Don’t get emotional when making an offer

Don’t get emotional when making an offer   If you read the title of this column, you probably already gathered that you shouldn’t get emotional when making an offer. And that’s true — when you get emotional, you tend to make a bad deal.     I’ve seen this concept play out in many ways. A newer investor will overbid on property. And since they’re excited about doing their first…

Face to face

Face to face     Monday morning was super busy for me. You see, we had a closing where we were purchasing a double wide on it’s on land, and I needed to prepare closing docs, get a cashier’s check for that closing and also attend to my normal Monday morning commitments.   Due to labor shortages, my bank’s local branch had its lobby closed. As such, I had to…

Friends, family and business

Friends, family and business   I was talking to a landlord recently who had been put through the wringer by her tenants. You see, she had bought a freshly remodeled, four bedroom, 2 1/2 bath, 2,000-square-foot home and paid retail price for it.     Now, this landlord was not a hedge fund, and she was not a high roller looking to put lazy money to work. She was just…

Another statistic

Another statistic   Have you heard it said that 8 out 10 small businesses fail within the first 18 months? I have, and I just thought it was true. As a matter of fact, I went looking for it the other day and was kind of surprised as to what I found.   I found that statistic was stated in a Forbes article from 2013. But they gave no data…

Something is missing

Something is missing   My first nonretail job was as a residential painter in college. I then worked for a handyman and then a custom home builder. I finally landed on a rehab crew remodeling both rentals and flips for an investor in Atlanta, which is where I got exposed to real estate investing.   And since my background is in construction, one of my jobs in our company is…

Problem solving a poor baby

Problem solving a poor baby   We had a bad night this week. As a matter of fact, it was one of the worst I can remember in our child rearing career. And it all started while we had the kids working at a flip project we just finished on Sunday.   Real estate investing is our family business. As such, we try to get the kids involved as much…

Sitting at the laundromat with my bank account drained

Sitting at the laundromat with my bank account drained   So, I learned some very valuable lessons this week at the laundromat. First, laundromat has an “O” in it which is contrary to how I say it — “laundry mat.” Next, the machines there have come a long way since I was kid. They have timers on the washers now, which is awesome, and the dryers are very efficient. I…

What exactly do you do?

What exactly do you do?   I have to confess that I’m guilty of something. I don’t do a lot of self promotion. Here is a case in point: This particular column marks the beginning of my sixth year writing this weekly article about real estate investing and then posting it to my blog. Yet I have friends and family who have no idea that I do it. I just…

An investor needs a blue pen

An investor needs a blue pen   Ashley and I have been blessed to have had some of the best real estate investor teachers in the world. What differentiated guys like Jack Miller, Peter Fortunato, Dyches Boddiford and David Tilney, along with their seminars, from others was they were not in the seminar business.   What I mean by that is I’ve been to classes before that are a sell-a-thon…

Dealing in benefits

Dealing in benefits   I was out door knocking recently, and I came across a seller in a precarious position. You see, she was thousands of dollars behind on her mortgage, she was older and the house was too much for her to take care of. Oh, and she was two and half weeks away from being foreclosed on.   When I first knocked on her door, she admitted she…