Archive
Six degrees and six vacancies... Oh shazbot! It’s six degrees outside. Well not exactly. Technically it’s in the teens, but with the wind chill, it feels like six degrees. Needless to say, this is not normal weather in Georgia. There’s ice and snow everywhere. And as I lay in bed this morning, all I could think about was all the ways this weather could affect the six vacant houses we have...
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...
As a beginning investor, you’ll find yourself doing all kinds of projects you aren’t equipped for. When you are in one of these situations, make sure it’s because you have to, not because you’re being cheap.