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From The Blog...

September 28, 2016
vampire

Vampires and your Rental Properties

If you’ve ever read any of the feel-good books like Tuesday’s With Morrie or self-help books like Stephen Covey’s 7 Habits of Highly Effective People, you already know about the concept of “vampire time-suck“. This is the person or situation that sucks the valuable time (aka “your blood”) out of you by attending certain meetings, taking certain phone calls, and completing to-do’s.  If you think even for 30 seconds here, you can mentally picture that co-worker or vendor or daily/weekly job task that fills this time-suck, can’t you? Me too. Why do I bring this up today? Because one of my property management Clients reminded me how this concept intersects with the financial concept of “discounting value of money”. Here’s the basic concept:  A dollar earned or saved today is worth more than a dollar earned or saved in the future.  It’s the method used to bring future projected cash […]
September 8, 2016
bubble

Are we in another Housing Bubble already?

  Kids like bubbles.  Even dogs like bubbles. Real Estate Investors typically don’t like bubbles.  But it doesn’t have to be that way if you think about it…. A recent article on CNBC highlights the possible statistics pointing to another Housing Bubble for specific States and Cities in the US. However, unlike the last major bubble, the underlying forces causing this bubble are distinctively different. Here’s the full article link:  http://www.cnbc.com/2016/08/29/were-in-a-new-housing-bubble-why-its-less-scary-this-time.html My favorite Take-Away paragraph from the entire article is this…. “Rental demand, especially for single-family homes, is very strong and is an attractive income stream for individual investors and current homeowners. As millennials age into their prime homebuying years, more than ever before they are choosing to rent single family-homes, because they either don’t meet mortgage credit requirements or are unable to save for a down payment because rents are so high.” So, if you’re worried how the housing […]
August 30, 2016
flexible

Why Flexibility is more important than Rigidity in your Operations….

Things happen when you run a rental property operation.  That’s why there’s the phrase you see on bumper stickers that says “**** Happens.” As such, two primary choices present themselves:  Be absolutely rigid and unbending in your policies and procedures….or…..Be absolutely flexible and have strength in your policies and procedures. What I mean is captured in this video below. As you watch it, consider the possible scenarios in your minds and do the metaphorical application to your rental properties, your tenants, and your landlord clients if you are a property manager.     So….Is your operation flexible and strong enough to break your ‘cement blocks’? Or will you end up crushing all 27 bones in your hand?
August 26, 2016
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Crowdfunding for Your Real Estate

You’ve heard of Crowdfunding for all kinds of funky new products and companies, but real estate?  No, you’re not doing a double take. Yup.  It’s here. Check out this article about crowdfunding and how it can impact your Retirement Plans. http://money.usnews.com/investing/articles/2016-08-23/pros-and-cons-of-real-estate-crowdfunding-for-retirement  
August 22, 2016
scale

The Most Feared Activity for Landlords

Over many years of coaching Landlords, Investors, and Real Estate Agents I’ve come to this conclusion: Your Dreams and Nightmares are always about THE SAME THING. Your most dreamed about issue?  It is always making large amounts of money so they can have Financial Freedom.  It’s you visualizing their bank account balance swelling up.  It’s you visualizing your ROI numbers and seeing it start with a larger integer than last year. Your most Nightmarish issue?  It is always procrastinating the grunt work of actually running the financials on your rental properties.  It’s “stepping on the scale”.  It’s the attitude of “What I don’t know can’t hurt me, right?”  “If I don’t look at the numbers, they’ll certainly improve on their own….” I’ve learned that I can ask clients to run a simple worksheet and they don’t want to do it.  They’d rather talk to 10 life insurance salesmen than actually get a […]
 

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