I am, I change

I am, I change

I am, I change   Today, I would like to revisit a topic that I’ve written about before. It resurfaced recently.   Once upon a time I invited you into a night ritual that I had with my then 3-year-old daughter. She’s now 6. The ritual went like this:   I’d lay her on my chest while we sang songs and prayed.   Before I’d lay her down, I’d ask…

Lease option vs. lease purchase

Lease option vs. lease purchase

Lease option vs. lease purchase   I got a call from an investor recently needing some help with structuring a deal. He was in the process of buying a property and wanted to do “one of those lease option, lease purchase things” as his exit strategy.   As we talked, I realized just how easy it is to get those two terms confused and how freely people use them synonymously….

The money is in the meter drop

The money is in the meter drop

The money is in the meter drop   How would you like to make $10,000?   Now, before you blurt out an answer, I’d like for you to consider a story that my good friend and mentor Gary Harper tells about a cabby he encountered. The title of his story is “The money is in the meter drop.” And it goes like this:     Gary was in the big…

A reason why agents forget about investors

A reason why agents forget about investors

A reason why agents forget about investors   Ashley and I saw something last month and again this month that we haven’t seen in a long time. While out door knocking on the pre-foreclosures, we saw realtor signs in front of some of the houses being foreclosed on.   This happened a lot after the crash. Sellers would try to list their properties to get out from under a mortgage…

Transactional versus relationship-based deals

Transactional versus relationship-based deals

Transactional versus relationship-based deals   Real estate deals can be lumped into two basic categories. They are known as transaction-based and relationship-based.   Transaction-based deals are the ones where you really don’t meet anyone in person. You buy these properties in places like auction sites, the MLS and foreclosure auctions. This deal type is attractive because, for the most part, you can buy them from the comfort of your home…

A big fat jacket

A big fat jacket

A big fat jacket   Last week, we made an analogy between how you protected yourself from the elements as a kid when you played in the snow and how you should use that same logic to protect your assets. Both should be done in layers.   We talked about layers commonly used to protect financial assets — things like corporations and how the corporate shield is a great line…

They think differently than we do

They think differently than we do

They think differently than we do   Ashley and I were out knocking the pre-foreclosure doors in Whitfield county yesterday. While we were there, we had an interesting experience that I would like to tell you about.   The first couple of houses we went to were your normal $125-140k house in nice neighborhoods. I say “normal” because that’s the price range that the average person lives in in our…

Just get it in writing

Just get it in writing

Just get it in writing   I met with a seller recently who had a beautiful house in the Sonoraville area of Gordon County. When I say beautiful, I mean it. This house was immaculately kept and well maintained.   The seller was getting ready to move into an assisted living faculty and needed top dollar to provide for those accommodations for the remainder of her life.   Realizing she…

It’s a family business

It’s a family business

It’s a family business   I’ve got something on my heart that I really want to talk to you about. It has to do with a statistic I heard at a recent seminar. I heard that real estate investors, and entrepreneurs in general, get divorced from their spouses at a rate of 35%.   That means at least one out of every three people I see at a seminar is…

Don’t get so busy you forget what you’re doing

Don’t get so busy you forget what you’re doing

Don’t get so busy you forget what you’re doing   I got to do something I haven’t done in a long time the other day. I got to spend some one-on-one time with the guy who taught me most of what I know about real estate investing. His name is Bill Cook.     The reason this was a rare opportunity for me is because Bill and his lovely wife,…