Archive
What if I fall? The other day I was building a pole barn with a buddy of mine. In case you don’t know, a pole barn is a roof on stilts. It may or may not have a loft, but it defiantly won’t have sides. You use them to park an RV or store tractors and other farm equipment. The one we were working on was pretty big. It measured 36 by 40 feet. It was about 22 feet to the ground from the...
Credit Fraud: I can’t stand a thief. Call me crazy, but I’ve always felt it’s more natural to go to work than to try to take something that’s not yours. In this day and age, thieves are getting smarter and working harder to take what belongs to you. This past month, I received a strange letter in the mail. It was from the IRS. Any time I get an IRS letter I ask my CPA about it. He...
Take Time to Be a Dad: Recently I was riding with an experienced 81-year-old investor. He grew up a poor sharecropper in Mississippi. What he’d learned from his meager beginnings was how to work. I mean, really work. He would pick 300 lbs. of cotton a day. He kidded that he was the slowest out of his 12 brothers and sisters. You know, I always admire guys like him. Nothing was ever...
The four jobs of a tenant Rental property that produces a positive cash flow is the Alpha and Omega of real estate investing. To have positive cash flow, you need to have a tenant that pays well. But is that all that you need them to do? The Answer is an emphatic “No”. When we lease up a tenant, we tell them that we’re hiring them for four jobs. Think about that concept for...
Right now it’s 5:38 a.m. My back, hands and neck hurt, and I’m not the alert morning person I normally am. Straight up: I didn’t get enough sleep. I worked on three different rentals yesterday. It was a full day. Rental No.1: We had a busted pipe. When I got the call, it was 30 minutes till Home Depot closed. That meant if we didn’t get all the right materials on the way, the pipe...