Why buy rentals?

Why buy rentals?   Boy, we’ve had a week — maybe more than a week. You see, it really started when Ashley’s water broke last Thursday. When that happened, I spent the following Friday trying to finish everything I possibly could. I knew our fourth baby would be here soon, and I wanted to get as much done as possible in final preparation for that impending event. And I wanted…

Death in a rental

Death in a rental   I was talking to a real good friend named Nicole recently, and she had something happen in one of her houses that she wasn’t sure how to handle. It’s a very delicate situation that you as a landlord may run into at some point. And I thought I would share her story, what she learned and what she plans to do in case you ever…

Riding the waves

Riding the waves   We’re down in the Florida panhandle at Navarre Beach this week. It has been beautiful while we’ve been here. Highs have been in the mid- to upper 80’s, and it has been mostly bright and sunny despite the forecast for thunderstorms. Don’t get me wrong: the storms are out in the gulf, but they seem to miss where we are every day aside from a few…

Why rentals are better than assignment fees

Why rentals are better than assignment fees   I read a great social media post this morning. It was from an investor who was writing to explain why long-term rentals are something wholesalers need to consider when they get houses under contract. And to support his position, he went through the numbers on a recent deal.   (Now, I went back to try find you the post so that I…

Time is money more than money

Time is money more than money   When I was first exposed to real estate investing, I was working for an investor down in Atlanta on his rehab crew. The guy’s name was Andy, and he had two of my friends and me doing everything on his rehabs that didn’t require a license, along with some stuff that probably should have. It was great for me. I was getting to…

Paying on-time is not a favor

Paying on-time is not a favor   We experienced an anomaly this month. We had three different tenants who experienced difficulties paying on time, and they all had different circumstances.     The first tenant actually did get his payment in on time. Truthfully, he was early. But the difficulty stemmed from the fact that his personal bank account had been closed down due to fraudulent activity, and the rent…

Is now the time to buy?

Is now the time to buy?   We did something very interesting the other day. We bought a bus. Now, it’s not a school bus. It’s a public, transit-type bus. The reason we were looking for one was because we plan to travel a lot more around the U.S. making the most out of the 18 summers we have left with our kids. As I have told you before, we…

Face to face

Face to face     Monday morning was super busy for me. You see, we had a closing where we were purchasing a double wide on it’s on land, and I needed to prepare closing docs, get a cashier’s check for that closing and also attend to my normal Monday morning commitments.   Due to labor shortages, my bank’s local branch had its lobby closed. As such, I had to…

Another statistic

Another statistic   Have you heard it said that 8 out 10 small businesses fail within the first 18 months? I have, and I just thought it was true. As a matter of fact, I went looking for it the other day and was kind of surprised as to what I found.   I found that statistic was stated in a Forbes article from 2013. But they gave no data…

To be, or not be free and clear

To be, or not be free and clear   I come from the Dave Ramsey school of thought when it comes to managing finances. I don’t like personal debt, and I prefer to pay cash for things. As a matter of fact, Ashley and I have never had a car payment during our marriage. We no longer have any student loan debt, and we only use our personal credit cards…