Financial Freedom One House At A Time
Don’t get so busy you forget what you’re doing I got to do something I haven’t done in a long time the other day. I got to spend some one-on-one time with the guy who taught me most of what I know about real estate investing. His name is Bill Cook. The reason this was a rare opportunity for me is because Bill and his lovely wife,…
Why do an in-home interview? We have three properties on market right now for rent, and the quality and amount of applications coming in is great. This is a stark difference from the craziness we experienced in late fall of last year. Then, we had 200 applications submitted for just one property. And of those, only 20 percent were filled out completely, but most of the applicants didn’t meet…
Evaluating a big fat juicy deal How many of you romance the idea of getting that big juicy deal that nets you $75,000 or more in profit? I know I do. Logic dictates that in order to get bigger profits like this, you’re going to need to work with houses at higher price points. Right? Well, it just so happened that we got a call last…
Subject-to deals Subject-to seems to be the new buzz-word circling through many of the real estate investor teaching arenas. That’s because in our current market, subject-to deals present a great opportunity. Before I get into that, let me explain what one is. A subject-to deal is where you buy a house from someone with a mortgage in place. Instead of getting your own loan to pay off your…
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…
Investors make decisions a lot Most entrepreneurs have to make a lot of decisions daily. For real estate investors, those decisions can range from tenant selection to tile selection, and everything in between. Being able to make those decisions quickly and effectively plays an important role in your success. So today, I’d like to talk to you about three different methods I have learned to help make decisions…
Enough is too much Rent is due on the first and late after the fifth of the month, according to most residential leases. On the sixth, a letter of demand should be issued to any tenant who has not paid. That letter should read something like this: “Dear Mr. and Mrs. Tenant, The purpose of the letter is to let you know that we did not receive…
Rehabbing rentals It takes a different mindset to rehab a rental property than it does to remodel a flip property for resale. And the difference in landlords’ mentalities is vast. Take what I saw on a Facebook advertisement recently where a landlord was advertising their freshly-renovated house. This thing was nice. I’m talking HGTV nice. The bathroom had custom tile on the floor and the tub surrounds….
Inaction I was reading a Facebook thread today where one my friends were asking what we thought the No. 1 killer of success was. That’s easy — inaction. Inaction manifests itself in all kinds of forms. Sometimes it’s fear-based like when people are afraid to fail or even afraid to succeed. I can’t tell you how many times this very thing happened to Ashley and me when…
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…