Fighting for rental space

Fighting for rental space

Fighting for rental space   This year has been very strange as far as rentals go. First off, rent rates have skyrocketed. In 2018, we have seen two-bedroom, one-bath houses rent for as much as 3/2 floorplans were renting for just two years ago. With the spike in rent prices, odd things have started happening. For instance, we’ve had con artists trying rent people our houses.     In previous…

FiFa is a four-letter word

FiFa is a four-letter word

FiFa is a four-letter word   Well technically FiFa is not a four-letter word. It’s an abbreviation for the two Latin words Fieri Facias that translate to “you shall make happen,” which you’ll understand in a minute.     A FiFa is a lien issued by the clerk of court to a lawsuit winner who has been awarded a judgment. This lien becomes public record and gives the sheriff’s office…

Consider this before going full time

Consider this before going full time

  I had an opportunity this week to evaluate some qualities one needs in order to be successful as a full-time investor or real estate professional. It started Monday morning as I was heading to the office for our weekly staff meeting.   The project at forefront of my mind was completion of the rehab on a flip that was about to sell. We were running behind on it and…

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…

10 for 2

10 for 2

  Investing isn’t restricted to buying a stock or a piece of real estate. It’s more than that. Investing is a thought process where you use money and knowledge strategically to create more money.   This was perplexing for me, at first. I grew up believing that you were a slave to the dollar and money was something that ruled over you.     But one of my teachers, named…

Crazy as flip

Crazy as flip

  So, you’ve been telling everyone that you buy houses, and you’ve finally found someone who needs to sell their property quickly. After you inspect the house, you realize it needs work. But there could be a good profit if you fix it up and sell it. You get the seller to the kitchen table and structure the deal of the century. The seller accepts, and you close the deal….

Checking the state of your flock

Checking the state of your flock

  I was having lunch with a good friend and investor named Emmett, recently. We talked about the current market and strategies we’re implementing, and we discussed what we see our other investor friends doing.   One of those friends hasn’t done many deals lately because she got her start when the market was at the bottom. Now that the market is moving so much, she is afraid it will…

It’s not about you. It’s about them.

It’s not about you. It’s about them.

  I had two recent experiences that were the epitome of poor customer service. One was at a recent closing where the real estate professionals were bantering back and forth so loudly that the attorney and the buyer (the actual customer who is paying everyone’s salary at the table) couldn’t hear each other. The second was at a big box store where I had a less-than-enjoyable time picking up some…

Your contracts should evolve

Your contracts should evolve

  The phrase, “One size fits all,” is something that should never be applied to your contracts. It’s very important that your documents fit the individual deal you’re working on. If you get on the internet and get a generic contract, it may have verbiage in it that’s not compatible with the laws in your state. You don’t want that.     Each time you write a contract, the situation…

Seek out good advice

Seek out good advice

  The other day, Ashley and I were shopping for appliances for a flip. Normally it’s not a big deal. We use the same stove, dishwasher and vent hood on almost every house. But this time, it was after Black Friday, and everything was on sale. We pointed out some different appliances we liked to the salesperson. But on each one, they tried to up-sell us. And each up-sell added…