What’s in a name?

What’s in a name?

  I was reading a thread online this week in which a real estate professional was questioning why an investor would create a company instead of running a sole proprietorship using their own name.   That’s a great question. And for many real estate professionals, it could be somewhat confusing because we see a lot of brokerages named after their owners. Take one of the biggest names in realty today:…

Paid time off

Paid time off

As I write this, I am sitting in the Destin area of Florida in a town called Miramar Beach, and today has been the best day of our vacation.   That being said, getting here wasn’t easy.   The last workday before left was beyond full. I left the house at 7 a.m. to make my first stop at the Calhoun Home Depot to pick up a large order for…

Trucks and trailers

Trucks and trailers

  We just did a land-home deal over in Adairsville. During the course of the purchase, the sellers found themselves in need of a truck. They were moving to Florida after the sale and were planning to live in a travel camper until they could decide where to buy and settle down.   They already owned a vehicle capable of pulling the camper, but something went wrong with it a…

Don’t forget to remember your expenses

Don’t forget to remember your expenses

  Every industry has expenses associated with the cost of doing business. In real estate, however, those cost may not be as apparent, especially for new and aspiring investors. I know this because I got to explain some of those expenses to two different investors involved in two different deals this week.   I would like to talk you through both scenarios so you’ll be better prepared to account for…

Private money

Private money

  I had an interesting experience recently. I went to lunch with a banker after I had inquired about how a business line of credit worked since I had never applied for one before.   I was expecting the rep to showcase what products the bank had for investors and explain what kinds of qualifications and stipulations would go along with each.   That’s not what I got.   Lunch…

Learn to create great deals

Learn to create great deals

  I got a call from a newer investor recently, and he was about to do his first subject-to deal. That’s where you buy a house and leave the seller’s mortgage in place after closing. You then make payments on that mortgage until you either pay it off, refinance the house or sell the property.   The investor was looking for some guidance on how to set up and properly…

Consider this before going full time

Consider this before going full time

  I had an opportunity this week to evaluate some qualities one needs in order to be successful as a full-time investor or real estate professional. It started Monday morning as I was heading to the office for our weekly staff meeting.   The project at forefront of my mind was completion of the rehab on a flip that was about to sell. We were running behind on it and…

Oh pool-ease

Oh pool-ease

  Ashley and I had a first recently. We bought a house with an in-ground pool in the backyard. Now we’ve bought houses with above-grounds pools many times. But that’s an easy situation to remedy. Depending on the style of pool, you can either take a razor knife to the side or post a picture of the pool on social media with a line that reads, “Free — come and…

The smartphone: an important investor tool

The smartphone: an important investor tool

  I went to pull my iPhone out of my pocket at a house the other day. My phone tumbled out of my fingers and began to topple toward the floor. I have pretty good reflexes, though, so I brought my right foot up and caught the phone in the same manner one would stall a soccer ball or hacky sack.   That particular action may sound odd for this…

Moores Scary

Moores Scary

  Have you ever started on a property just knowing it was going to be a homerun? I know we have. One that sticks out in my memory was a 2,000-square-foot, three bedroom, three full bath, brick ranch on eight acres.   We purchased this house for $40,000 and did a jam up rehab, including custom tile, hardwoods and new counter tops. We put a new roof on it, installed…