For sale by neighbor

For sale by neighbor   When I was a kid, we had a cassette tape of James Gregory. I remember listening to the different segments, laughing real hard, and rewinding the tape to listen to them again. (And to any of my younger readers, a cassette tape was like a small storage thumb drive for music that came before CD’s. And yes, I’m that old.)   One segment that sticks…

The family board meeting

The family board meeting   Investors talk a lot about the financial freedom that comes from having investment property. We glamorize going on trips, not having a J.O.B. and feeling like we are more in control of our future because of the passive income from rental properties. But are those the real reasons why we invest in real estate?   Let me clarify what I mean by that.    …

Real estate investors make people cry

Real estate investors make people cry   I sometimes hear people talking about real estate investors in a poor way. They will refer to us as vultures circling around. (I guess they see us as waiting for people’s homes to die so we can swoop in and greedily make massive profits off others’ misery)   And just like with any profession, there are some investors out there who care more…

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…

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…

Don’t get emotional when making an offer

Don’t get emotional when making an offer   If you read the title of this column, you probably already gathered that you shouldn’t get emotional when making an offer. And that’s true — when you get emotional, you tend to make a bad deal.     I’ve seen this concept play out in many ways. A newer investor will overbid on property. And since they’re excited about doing their first…

How we handled our rent increase

How we handled our rent increase   Last week, I talked to you about the increased property maintenance costs landlords are facing on their rental properties. We showed how some repairs are now costing 50% more than they did just a year ago. And we also talked about how price increases are prevalent on both property taxes and insurances. I concluded by showing you how landlords have no other option…

Why rents must go up

Why rents must go up   Price increases are staggering right now. I know everyone is feeling it at the gas pumps and at the grocery stores. But what about us landlords? I can say from personal experience that we are feeling it in lots of places. Let me explain. This last week I was on a call with Matt from Simple CFO. Simple CFO is a company that offers…

This does concern you

This does concern you   This week, I met with a seller who had a beautiful, brick ranch in a very desirable subdivision in Calhoun. The house was in very good shape. It needed some updating since it still had original fixtures throughout the house as well as wallpaper from its construction era. The kitchen needed some love too, but it had nice hardwood floors, a great living space and…