Archive
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...
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...
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...
Trailers is as trailers does I’m a big fan of mobile homes. To me, they have the best returns, by far, of any investment in real estate today. But be aware, mobile homes are quirky. We have a doublewide on Berry Bennett Rd. It was a little rough when we bought it, but we got it rehabbed and looking nice. We did all the normal stuff like painting, new floor covering and new...