The key to getting great tenants

The key to getting great tenants

I did something a little gutsy this week. I decided to do a Facebook live video were I walked the viewers through a house we had just gotten back from some vacating tenants. What made this move gutsy was the fact that I had no idea what the condition of the property would be. I just turned the camera on, unlocked the door and began filming.   The house was…

10 for 2

10 for 2

  Investing isn’t restricted to buying a stock or a piece of real estate. It’s more than that. Investing is a thought process where you use money and knowledge strategically to create more money.   This was perplexing for me, at first. I grew up believing that you were a slave to the dollar and money was something that ruled over you.     But one of my teachers, named…

Seven Houses till Sunday

Seven Houses till Sunday

  Boy, do we have a full plate right now. We have four active rehab projects, plus three rentals houses we need to fill. Put it all together: yep, that’s seven open properties. Woohoo!   Rehab No.1 is located on Rush Chapel Road. Painting and light installation was completed Tuesday which meant I had to get cabinets and flooring ordered and delivered so the guys could keep moving forward.  …

Making an offer

Making an offer

Making an offer is sometimes intimidating for a beginner – mainly because you’re scared the seller will accept, and you have no idea what to do next. Or you’re scared you’ll mess something up.   Either way, I totally understand.   But something that gave Ashley and I confidence was to realize that you aren’t contractually bound by anything just because you made an offer.   An offer, is just…

Flip the Script

Flip the Script

  As I was going through the TSA checkpoint at Hartsfield International Airport, I got an opportunity to practice some principles I learned from Dale Carnegie in his book, “How to Win Friends and Influence People.”     As we waited in the crazy long line at the security check, I noticed some of the TSA agents didn’t look thrilled to be at work.   I decided to interfere with…

Crazy as flip

Crazy as flip

  So, you’ve been telling everyone that you buy houses, and you’ve finally found someone who needs to sell their property quickly. After you inspect the house, you realize it needs work. But there could be a good profit if you fix it up and sell it. You get the seller to the kitchen table and structure the deal of the century. The seller accepts, and you close the deal….

How to get a quality tenant

How to get a quality tenant

  I’m often asked how I’ve learned to successfully manage rental property. You see, every landlord takes a course in property management, either via the school of hard knocks, or from a good teacher.   I was blessed to learn my property management system from two great teachers, Bill Cook and David Tilney. And because of their philosophies and strategies, we have a track record of getting great tenants who…

Pareto’s Principle

Pareto’s Principle

    Vilferado Pareto was an Italian economist in the late 1800s. While working at the University of Lausanne, in Switzerland, he noticed that income was unevenly distributed throughout Italy. After researching the issue, he determined that approximately 80 percent of the land in Italy was owned by 20 percent of the people. This led Pareto to investigate other countries where he discovered a similar statistic ⎯ 80 percent of the…

Don’t be stupid

Don’t be stupid

  I’ve been blessed to have a great friend — but an even better mentor — by the name of Bill Cook. He’s the man who taught me most of what I know when it comes to property management, creative deal structuring and running a real estate investing business. And to this day, he challenges me to be better.   You may be asking how Ashley and I earned the…

Read everything you sign

Read everything you sign

  We’re doing a property right now that has a propane furnace, so we went to see Ms. Sue over at Calhoun LP Gas. She got me taken care of and scheduled their guys to bring me a tank the following week, weather permitting.   As we were doing the paperwork, Ms. Sue noticed I was reading everything and remarked that that was fine, but that it was just their…