A good property management system

A good property management system   I have been out working on rentals a lot this past week. Contrary to what you hear about most landlords, I actually like working on our properties. The reason for this is because I get to see how our people are doing, how they are keeping the house up and if they are doing the four jobs of a tenant.   And just to…

Creative offers

Creative offers   Ashley and I were two broke kids straight out of college when we got started in real estate investing. We had a mound of student loan debt and no money in our pockets to invest. And because we had either been self-employed or full-time students while in school, we had no real, verifiable income. That fact, coupled with a high debt to income ratio from the loans,…

“What Box” is coming

“What Box” is coming   I’m often asked where I go to learn about real estate investing. Truthfully, Ashley and I have been blessed to meet, befriend and attend seminars with some the most creative real estate investors out there. And we go back to the same classes time and time again.     Chances are that if you are reading this column on Sunday morning in Bartow County, I’m…

The anonymity of a land trust

The anonymity of a land trust   When people are getting started in real estate investing, they often assume they need to form an entity like an LLC or an S Corp first thing. The two main reasons for this are to protect their assets from lawsuit and to take advantage of certain tax breaks.   In my opinion, due to formation and maintenance costs, neither of these entities are…

FOCUS like a lion

FOCUS like a lion   Ashley and I just got back from a mastermind meeting in Dallas, Texas. It was made up of real estate investors from all over the U.S. who are seeking to build better businesses by developing their systems and processes. Ya’ll, it was phenomenal!     Each investor gaves a 15-minute presentation where they told a little about themselves and their company. Next, they told the…

Tenants must be easy to work with

  So, we recently had tenant applicants do some things that were new to us. One walked out of the lease-up, and the other called us rude. Let me explain what happened and why each instance was actually good.   The first one happened on a Tuesday. We’d been trying to find the right tenant for a vacancy we have up in Dalton. We found some people who looked great…

Learn to create great deals

  I got a call from a newer investor recently, and he was about to do his first subject-to deal. That’s where you buy a house and leave the seller’s mortgage in place after closing. You then make payments on that mortgage until you either pay it off, refinance the house or sell the property.   The investor was looking for some guidance on how to set up and properly…

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…

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,…

What I learned at ‘What Box’

  Ashley and I just got back from the “What Box” seminar on creative deal structuring presented by Bill Cook and Pete Fortunato. It was great, but I’m not going to lie – by the time we got through with class, my brain was numb.   On the car ride home, we talked about the “aha” moments we’d had. One of the things I learned was there’s a difference between…