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…

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…

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…

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.  …

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…

It’s not about you. It’s about them.

It’s not about you. It’s about them.

  I had two recent experiences that were the epitome of poor customer service. One was at a recent closing where the real estate professionals were bantering back and forth so loudly that the attorney and the buyer (the actual customer who is paying everyone’s salary at the table) couldn’t hear each other. The second was at a big box store where I had a less-than-enjoyable time picking up some…

Rotating out

Rotating out

  “The Ranger Regiment is the U.S. Army’s premier large-scale special operations force, and is made up of some of the most elite Soldiers in the world,” according to goarmy.com.   For the past two and half years, I’ve had the pleasure of having a Ranger work for me. His name is Miles McGuire and he’s currently my project manager.   During our time together, Miles has told me stories…