Archive
Take Time to Be a Dad: Recently I was riding with an experienced 81-year-old investor. He grew up a poor sharecropper in Mississippi. What he’d learned from his meager beginnings was how to work. I mean, really work. He would pick 300 lbs. of cotton a day. He kidded that he was the slowest out of his 12 brothers and sisters. You know, I always admire guys like him. Nothing was ever...
The four jobs of a tenant Rental property that produces a positive cash flow is the Alpha and Omega of real estate investing. To have positive cash flow, you need to have a tenant that pays well. But is that all that you need them to do? The Answer is an emphatic “No”. When we lease up a tenant, we tell them that we’re hiring them for four jobs. Think about that concept for...
Right now it’s 5:38 a.m. My back, hands and neck hurt, and I’m not the alert morning person I normally am. Straight up: I didn’t get enough sleep. I worked on three different rentals yesterday. It was a full day. Rental No.1: We had a busted pipe. When I got the call, it was 30 minutes till Home Depot closed. That meant if we didn’t get all the right materials on the way, the pipe...
The other day, Ashley and I were driving in the mountains of Tennessee. As we came into town, we stopped on a bridge that over looked a beautiful mountain river. Ashley said, “Joey! Look at the size of that buzzard!” I looked over to see a very large, dark bird in the trees over the river. Strangely, it had white tail feathers. I asked Ashley had she ever seen a buzzard with a...
When you put a house under contract to buy, you enter into a period known as “due diligence”. This gives you have a few days to check out the property. If you don’t like what you see, you can walk away with no questions asked. Most buyers will send a home inspector out to look at the house and an exterminator to check for termites. If you are purchasing the property as an investment, you...