Archive
How to get started in real estate investing? So what’s the best way to break into real estate investing? You may think you should start by getting approved for a loan. Maybe you think you should meet with contractors, realtors or even lawyers first. Perhaps you should buy one of those seminar packages who come with a mentor that will tell you exactly what to do next. Here is a...
You need to protect your assets, trust me: When people are getting started in real estate, they often assume they need to form an entity like an LLC or an S corporation 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...
Mom and Dad got one: I’m so proud of my mom and dad. They just bought their very first income producing property – and they did it very creatively. In early fall 2005, my mom and dad broke ground on a house. At the time, my brother-in-law, Michael, was their builder with myself and two other friends making up his crew. We had a track record of building custom homes in a gated...
Easy on the people, hard on the problem I learned my property management system from David Tilney. He has a fantastic course that will change the way you view land lording in general. One of the things David says is, “Be easy on the people but hard on the problem.” Truthfully, when I heard this, I had no idea what David was saying. My first real-world teacher, whom I’m...
Seek out great Agents The other day, a young agent contacted me about a deal down in Cartersville. It was a great deal, and since the agent brought it to my attention, I made my offer through him. As I was going through the paperwork, I noticed something called an “Exclusive Buyer Brokerage Agreement.” Be careful of these. As this particular document stated, “the buyer hereby...