Dealing in benefits

Dealing in benefits   I was out door knocking recently, and I came across a seller in a precarious position. You see, she was thousands of dollars behind on her mortgage, she was older and the house was too much for her to take care of. Oh, and she was two and half weeks away from being foreclosed on.   When I first knocked on her door, she admitted she…

King me

King me   The other day, I was having some alone time with my 8-year-old, and he wanted to play a game of checkers. As we got the game out, which was one of those nice wooden ones, I noticed that we didn’t have all of the wood playing pieces.   My son looked at me sheepishly and confessed that he had lost some of them. But he told me…

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.”    …

Empathy versus sympathy

Empathy versus sympathy   Empathy and sympathy are two very similar words that have related meanings. They both have to do with understanding someone else’s feelings. That being said, you have to focus on one versus the other when it comes to making offers.   The late, great, Zig Ziglar has a story he uses to illustrate the difference between the two concepts. He talks about when he sold Saladmaster…

Expenses Escaped

Expenses Escaped   Ashley and I have been blessed to have Peter Fortunato as one of our main teachers since we got into real estate investing.   When it comes to creative real estate transactions, Pete is like one of those guys that does chainsaw wood carving. He walks up to something that looks like a stump to everyone standing around, cranks up his creative chainsaw mind and begins to…

Abraham: father of many nations, rockstar negotiator

  I recently read a book called “Negotiate This! By Caring, But Not T-H-A-T Much.” I really liked the author Herb Cohen. Not only is he funny, but he has some impressive negotiating credentials, like being hired to successfully negotiate a hostage crisis for the White House.   This book has a lot of great suggestions. In one section, Herb uses a biblical example to illustrate some key negotiation tactics….

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…

Flip the Script

  As I was going through the TSA checkpoint at Hartsfield International Airport, I got an opportunity to practice some principles I learned from Dale Carnegie in his book, “How to Win Friends and Influence People.”     As we waited in the crazy long line at the security check, I noticed some of the TSA agents didn’t look thrilled to be at work.   I decided to interfere with…

Security is the foundation of every deal

  Peter Fortunato is arguably one of the most creative real estate deal structurers on the face of the planet. The way he crafts deals is nothing short of mind blowing. If he knows some key information, he can take a single house and give you at least 10 ways to construct a lucrative deal for both the buyer and seller. Every time I get to hang out with Pete,…

Take emotion out of it

I was talking to an investor recently about a property tax lien sale. These take place when counties auction off the tax liens that have accumulated due to unpaid property taxes. It’s a good way for local government to recoup some of their lost funds.   For investors, it’s a great opportunity. If you know what you’re doing at the tax sale, you’ll get either a guaranteed 18 percent return…