Archive
Succession plan I think most parents want to leave an inheritance to give a better financial life to their children and grandchildren. But should that wealth transfer happen haphazardly? Or should there be some real forethought as far as how the inheritance should take place? What I’m talking about here is how you should be training your children and grandchildren to inherit the...
Atypical Day I’m often asked what my typical day looks like as a real estate investor. And I am often at a loss on how to answer that question because, well… let me tell you about a recent day. I started out at 5:30 a.m. at Calhoun Spine and Wellness doing my workout. That morning was a partner exercise, and I got to work out with my good friend Kate Derrick. For 40 minutes, she...
Don’t kill the golden goose I was talking with an investor the other day who had just received some really great news. His portfolio of rental properties had an equity value of over $1 million. I asked him how he found this out, and he told me he’d been working with a financial advisor who had challenged him to find fair market values for each piece of property he held. ...
Cool it, buster When you own rental property, there are a lot of expenses you should plan for. Most people understand making payments on their mortgage and property taxes monthly, but there are sporadic expenses you should be saving for monthly as well. They include things like vacancy and repairs. The savings we set aside for paying these costs is something we call a rental’s “expense...
Robbing Peter to pay Paul We just had our first real hot days for this year, which means landlords are about to get calls about air conditioning not working properly. Now, there are some normal things that can happen when central units go from being “off” during springtime to “on” full blast in the Georgia heat, and these typical malfunctions can hinder a unit’s ability to cool....