Archive
Last week I talked about how repairs on rental property you own can kill your cashflow. So far this year, our rental repairs have consisted of three field lines, one roof, lots of AC calls, a water heater, a water main and a big subfloor repair. All these amounted to about $30,000 in out-of-pocket expense. Think about that number for a second. If you had $30,000 in repairs, like we...
Many people make the claim that owning rental property is the best way to get out of the rat race and achieve long-term financial success. I happen to be a proponent of rental property. That being said, I’d like to challenge the above statement and see if it’s completely true. I will do that with a tale of two rentals; both scenarios took place last weekend. It was the best...
Gary Keller, founder of Keller Williams Realty, wrote a fantastic book called “The One Thing.” In it, he challenges some modern ideas about multitasking, its effectiveness and its impact on the successfulness of your career. His basic conclusion is that multitasking is a farce. He sights a study performed on college students to determine their effectiveness while...
I read a familiar story with Ashley and the kids last night out of the biblical book of Numbers. In chapter 13 we read that Yahweh had just led the children of Israel out of Egypt, they’d organized themselves into an army, and were planning to spy out the Promised Land. They chose 12 men for the recon mission inside of Canaan. Among them was Kaleb, son of Jephunneh. Their job was...
Today is a bittersweet day. We had a Lonnie Deal payoff for the very first time in over six years. It’s bitter because we just lost the $275 income stream this deal was paying us and now we have to go out and replace that money. It’s sweet because I just got a text from my good friend named Mike Hicks. Mike’s a smart investor up in the Rossville area. Recently, his beautiful wife, Teah,...