Public service announcement

Public service announcement

  I had an interesting time with contractors last week. We have five rehabs going right now, which means we are dealing with lots of contractors and many different schedules. And last week’ workflow was, well, inefficient at best.   I had one contractor go MIA. I chose that term because we didn’t know he was gone. He normally goes out, works and sends us his invoice when he is…

Why landlords need good tenants

Why landlords need good tenants

  I’m a firm believer in the idea that rental property is an essential part of attaining financial freedom. It’s different from any other capital asset you can purchase. I mean think about it: for what other asset can you get a loan for the purchase price? I’m not aware of any bank loans for stocks. But I do know a lot of programs geared toward obtaining mortgages.   Having…

Why master leasing to an investor was good for a military service member

Why master leasing to an investor was good for a military service member

  I recently sat down with a property owner who was about to become a landlord unexpectedly. You’d be surprised how often this happens. Their scenarios range from inheriting property to going through a divorce or even just experiencing a job transfer. This particular owner falls into the last category. He’s being deployed overseas and received about a months’ notice.   Like I said — unexpected landlord.   Before I…

The key to getting great tenants

The key to getting great tenants

I did something a little gutsy this week. I decided to do a Facebook live video were I walked the viewers through a house we had just gotten back from some vacating tenants. What made this move gutsy was the fact that I had no idea what the condition of the property would be. I just turned the camera on, unlocked the door and began filming.   The house was…

How to get a quality tenant

How to get a quality tenant

  I’m often asked how I’ve learned to successfully manage rental property. You see, every landlord takes a course in property management, either via the school of hard knocks, or from a good teacher.   I was blessed to learn my property management system from two great teachers, Bill Cook and David Tilney. And because of their philosophies and strategies, we have a track record of getting great tenants who…

The Proctor Doctor

The Proctor Doctor

  I’m a firm believer in chiropractors, and I’ve been going to them since I was 5 years old. During that time, I have witnessed them do some remarkable things. I’ve seen them break fevers, stop vertigo, heal migraines and much more.   One of the biggest of these things happened to me in Calhoun with Doctor Max Proctor. When I was 16, I was diagnosed with tendonitis in my…

Why master leasing makes sense

Why master leasing makes sense

  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,…

A tale of two rentals

A tale of two rentals

    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…

Mold is a four letter word

Mold is a four letter word

  If you’re in real estate in Georgia, chances are you’ve heard someone talk about black mold. Most of the time it’s a potential tenant complaining about their current landlord, how he doesn’t fix anything and that there’s black mold all over the property.   As and aside, here a word to the wise: Stay away from tenants like that. It’s not always the case, but most of the time…

Can you make money without money in real estate?

Can you make money without money in real estate?

  The other day I was reading a forum discussing myths in real estate investing. One of the contributors said the phrase “it doesn’t take money to make money” is the biggest myth in real estate investing today.   I disagreed with the contributor from the standpoint of personal experience; Ashley and I had no money when we started. We were broke kids, straight out of college, with a ton…