What comes first — the loan or the deal?

What comes first — the loan or the deal?

  The two main obstacles most beginner investors experience are “Where do I find a deal?” and “How do I pay for it?”   This situation feels a lot like the age-old question, “What comes first — the chicken or the egg?” In order to buy a house, you need to secure funds to pay for it. But in order to secure those funds, you need to have a deal…

Why landlords need good tenants

Why landlords need good tenants

  I’m a firm believer in the idea that rental property is an essential part of attaining financial freedom. It’s different from any other capital asset you can purchase. I mean think about it: for what other asset can you get a loan for the purchase price? I’m not aware of any bank loans for stocks. But I do know a lot of programs geared toward obtaining mortgages.   Having…

Abraham: father of many nations, rockstar negotiator

Abraham: father of many nations, rockstar negotiator

  I recently read a book called “Negotiate This! By Caring, But Not T-H-A-T Much.” I really liked the author Herb Cohen. Not only is he funny, but he has some impressive negotiating credentials, like being hired to successfully negotiate a hostage crisis for the White House.   This book has a lot of great suggestions. In one section, Herb uses a biblical example to illustrate some key negotiation tactics….

Why master leasing to an investor was good for a military service member

Why master leasing to an investor was good for a military service member

  I recently sat down with a property owner who was about to become a landlord unexpectedly. You’d be surprised how often this happens. Their scenarios range from inheriting property to going through a divorce or even just experiencing a job transfer. This particular owner falls into the last category. He’s being deployed overseas and received about a months’ notice.   Like I said — unexpected landlord.   Before I…

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….