Archive
Start the ball rolling Does this scenario sounds familiar? Rent is due on the first and late after the fifth. After 5p.m. on the fifth, you send a letter of demand via email and a text that says the tenant needs to pay or move from the property by the ninth. If not, you’ll have to file dispossessory at court. On the morning of the ninth you get a frantic call from the...
What’s in a day New and aspiring investors often ask me what a typical day looks like for us. I’m not sure we have “typical” days. Some are just smoother than others. Take yesterday for instance. I woke up and was at the gym by 6:15 a.m. (note: Ashley is there by 5:15 a.m. We play tag team on our workouts to make sure someone is home with the kids). By 7:30 a.m. I was back...
Rolling in the dough Ashley and I recently had an interesting conversation with some friends of ours. They were talking about a new car they wanted to buy. And when I say new, I mean brand new. And based off what I could tell, the starting price on this vehicle was going to be close to $35,000. That was the starting price. As we talked further, our friends let us know that the...
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 necessary...
Lease option vs. lease purchase I got a call from an investor recently needing some help with structuring a deal. He was in the process of buying a property and wanted to do “one of those lease option, lease purchase things” as his exit strategy. As we talked, I realized just how easy it is to get those two terms confused and how freely people use them synonymously. To be clear, a...