Archive
They happen. What, evictions? Sometimes. If you’re a landlord, chances are you’ll have to file for an eviction at some point. I’d like to walk you through what you should do when filing for dispossessory so you won’t feel as unprepared as I did the first time I had to. Start by notifying your tenant that they haven’t paid by giving them a letter of demand. This letter informs your...
Work to learn, not to earn: There are concepts that have truly life-altering effects. For us, the idea of working to learn, not to earn was one of them. This notion came from a book we read called “Rich Dad Poor Dad” by Robert Kiyosaki. If you’ve never read that book, please do. It’ll change the way you look at money, your job and investing forever. In the book, Robert talks...
How to make your top offer: When you’re looking to buy an investment property, it’s important not to get emotional while evaluating the deal. Let me warn you, failure to keep your emotions in check will cost you big time. Ask me how I know. One of the worst deals Ashley and I ever did was a result of us leaving our excitement unchecked. When we were new investors, we wanted so...
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...
Do your notes need to carry interest? I was at worship the other day with a five-yea- old who was trying to sell his Rubik’s Cube. I didn’t know they still make those things, but for fun, I played along and asked him how much he wanted for the toy. Tyner: “Nine hundred sixteen”. Me: “Nine hundred sixteen what?” Tyner: “Cents.” Me: “OK, how about this; I can pay you 10 cents...