Just because you can, doesn’t mean you should

Just because you can, doesn’t mean you should   I was talking to an investor friend, recently, who was facing a conundrum. You see, he had become very specialized in one area of real estate. And the strategy he’d been using to buy on auction platforms, do minimum rehabs and resell was no longer working. Referencing the book by Spencer Johnson M.D., my friend said, “My cheese moved.”    …

Atypical Day

Atypical Day   I’m often asked what my typical day looks like as a real estate investor. And I am often at a loss on how to answer that question because, well… let me tell you about a recent day.   I started out at 5:30 a.m. at Calhoun Spine and Wellness doing my workout. That morning was a partner exercise, and I got to work out with my good…

Why do your renters need insurance?

Why do your renters need insurance?   I’ll never forget the story of my mother-in-law’s best friend. She was up in Ringgold when that tornado hit in 2011. She lived in a single-story apartment complex with easy access to town and the interstate. This was fantastic for her because she got lots of convenience without having to worry with any home or yard maintenance.   She was on the phone…

It’s a journey

It’s a journey   I’m often asked by newer investors how long it took for Ashley and me to get out of corporate America. It’s an interesting question, because neither she nor I have ever been part of anything corporate other than the entities we’ve set up. Truthfully, I’ve never had a “real job.” And when I tell people that, I get some rather puzzled looks.   What I really…

It came back to bite us

It came back to bite us   Having a well-thought-out tenant screening process is essential to your success as a landlord. If you haven’t developed this plan, you should really give it some thought.   Let me walk you through the major parts of our tenant selection process and then show you how not sticking to it resulted in us getting a house back in poor condition for the first…

A beginner’s struggle

A beginner’s struggle   Recently I was asked about the main struggles that Ashley and I faced when we began our investing journey.   These struggles really boiled down to two things. The first was where to get money for deals. You see, Ashley and I were broke kids with a mountain of student loan debt and no verifiable income when we started out. This meant that we weren’t good…

What’s in a day

What’s in a day   New and aspiring investors often ask me what a typical day looks like for us. I’m not sure we have “typical” days. Some are just smoother than others.   Take yesterday for instance.   I woke up and was at the gym by 6:15 a.m. (note: Ashley is there by 5:15 a.m. We play tag team on our workouts to make sure someone is home…

Lease option vs. lease purchase

Lease option vs. lease purchase   I got a call from an investor recently needing some help with structuring a deal. He was in the process of buying a property and wanted to do “one of those lease option, lease purchase things” as his exit strategy.   As we talked, I realized just how easy it is to get those two terms confused and how freely people use them synonymously….

The money is in the meter drop

The money is in the meter drop   How would you like to make $10,000?   Now, before you blurt out an answer, I’d like for you to consider a story that my good friend and mentor Gary Harper tells about a cabby he encountered. The title of his story is “The money is in the meter drop.” And it goes like this:     Gary was in the big…