We’re a few weeks into 2014 and a lot of us are starting to feel the time crunch. Work, home, staying in shape, getting our finances in order, making time for family, making time for friends…oh, and remembering to stop and smell the roses from time to time. We’ve got a lot on our plates, don’t we? If you’re feeling overwhelmed, you’re not alone. Instead ...
Long distance relationships get a bad rap. They’re complicated, messy and simply don’t work, right? When it comes to real estate, however, distance is a good thing. Why? Think about it in terms of farming. Real estate investors grow wealth; farmers grow food. Successful farmers usually live apart from their farms (even if it’s just half a mile down the road). Gardeners grow their greens in their ...
It’s that famous holiday time! Most of you are probably still feeling stuffed of turkey and mac & cheese (although probably fewer people than in past years due to the ever-increasing numbers of vegetarians and vegans) and all you can think about is just hanging on until Christmas so you can enjoy a week or two off from life and work. I hear you. It’s exciting for me ...
Knowledge = power. Knowledge comes from education. Education comes from resources. Resources are everywhere! Easiest resource in my opinion? Books. Why? Because they hold a lot of information in a small package. Another bonus to books? You get advice straight from experts’ mouths. Can you imagine how much you would have to pay to attend a seminar by an expert that was long enough to cover everything in their books? Or ...
That’s right. I said it. Use your credit card. I’m sure most of you have heard the explanation of bad debt versus good debt. Bad debt is when you finance purchases like flat screen TVs, cars, vacations, or…look out, I’m about to say it… your own home. Good debt is when you finance purchases that will give you a return. Education is a big one. Another ...
Want higher ones, right? I don’t. Confused? I don’t blame you. You heard me right. I am just recently more impressed with 7-10% cap rates than 12%+ cap rates. I’ve had just enough experience in the rental property world to teach me that there is some real value in not ruling out those lower cap rates! What is a Cap Rate? A cap rate is a measure of ...
When a thunderstorm hits Atlanta, knocks off siding and parts of the roof of one of my rental properties, and I’m in Nicaragua. The Reality If I didn’t have a property manager looking over this house and I managed it myself, how would this have played out? I would have had to take the call from the tenant about the damage, coordinated with the insurance company’s inspector ...
Think about the math classes you have taken in your life. Huh? Think back to elementary school through high school and into college. How did your math classes work? You probably started by learning how to add. Then the teacher got sneaky and threw in a twist to addition and called it subtraction. Shut the front door, where was she going with this? She was leading you into learning multiplication. ...
To invest out-of-state or to not invest out-of-state? That is the question. You mean I might have to trust someone else to take care of my property? Have you lost your mind? Yes, I have lost my mind. Welcome to the idea of professional property management. Property managers don’t have good reputations (and rightfully so in most cases). I get it. I actually don’t argue the reputation because ...
