Real estate investors make people cry I sometimes hear people talking about real estate investors in a poor way. They will refer to us as vultures circling around. (I guess they see us as waiting for people’s homes to die so we can swoop in and greedily make massive profits off others’ misery) And just like with any profession, there are some investors out there who care more…
Why buy rentals? Boy, we’ve had a week — maybe more than a week. You see, it really started when Ashley’s water broke last Thursday. When that happened, I spent the following Friday trying to finish everything I possibly could. I knew our fourth baby would be here soon, and I wanted to get as much done as possible in final preparation for that impending event. And I wanted…
Riding the waves We’re down in the Florida panhandle at Navarre Beach this week. It has been beautiful while we’ve been here. Highs have been in the mid- to upper 80’s, and it has been mostly bright and sunny despite the forecast for thunderstorms. Don’t get me wrong: the storms are out in the gulf, but they seem to miss where we are every day aside from a few…
Why rentals are better than assignment fees I read a great social media post this morning. It was from an investor who was writing to explain why long-term rentals are something wholesalers need to consider when they get houses under contract. And to support his position, he went through the numbers on a recent deal. (Now, I went back to try find you the post so that I…
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…
How we handled our rent increase Last week, I talked to you about the increased property maintenance costs landlords are facing on their rental properties. We showed how some repairs are now costing 50% more than they did just a year ago. And we also talked about how price increases are prevalent on both property taxes and insurances. I concluded by showing you how landlords have no other option…
Why rents must go up Price increases are staggering right now. I know everyone is feeling it at the gas pumps and at the grocery stores. But what about us landlords? I can say from personal experience that we are feeling it in lots of places. Let me explain. This last week I was on a call with Matt from Simple CFO. Simple CFO is a company that offers…
This does concern you This week, I met with a seller who had a beautiful, brick ranch in a very desirable subdivision in Calhoun. The house was in very good shape. It needed some updating since it still had original fixtures throughout the house as well as wallpaper from its construction era. The kitchen needed some love too, but it had nice hardwood floors, a great living space and…
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…
To be, or not be free and clear I come from the Dave Ramsey school of thought when it comes to managing finances. I don’t like personal debt, and I prefer to pay cash for things. As a matter of fact, Ashley and I have never had a car payment during our marriage. We no longer have any student loan debt, and we only use our personal credit cards…