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From The Blog...

January 16, 2018

Everything Else is Irrelevant

There are very few Be-All, End-All things in real estate investing, but this is one of them. This cuts to the marrow, to the bone, to the essence of why The United States of America has grown and continues to grow more Financially Free individuals than the world has ever seen.  It’s not due to our abundant natural resources, nor our exceeding ability to innovate, nor even our financial prowess.  None of those factors matter as much as property rights.   Hint:  It’s why The Founders chafed under British rule….go back and read your history books again.  The Declaration of Independence.  The US Constitution.  The Amendments to The Constitution.  The 50 different State Constitutions.  They all contain deep breaths of these components for a Free Life. Even today, we still struggle to protect these property rights.  Without overthinking it too much, here’s four immediate threats to landlords and investors: Over-reaching HOA […]
January 16, 2018

“MY INSURANCE CLAIM WAS DENIED”……oh crap!

Whether we like it or not, insurance companies are not your “friend” in the rental business.  Yes, they provide a valuable product and provide coverage for you when the proverbial “SHTF”.  But, they also limit their potential exposure to paying out claims. One method they use is to limit paying out claims when a home has been vacant for an extended period of time and a claim is filed.  If you are the unfortunate landlord or investor who has this occur, expect the insurance adjuster to do his best “Inspector Jacques Clouseau” to determine how long the home has been vacant.  They will research the mls for listing status changes, they will research utility records for usage or non usage, etc.  They WILL find out. So, a best practice is to make sure you know precisely what your policy dictates on this issue.  And yes, dictates is the appropriate word […]
January 11, 2018

File EARLY this year!!!

This year is the year to DEFINITELY get all your ducks in a row, get all your paperwork in order, and get your tax returns filed as early as January 27th! Here’s a concise article from a local CPA firm explaining why. Don’t put your Financial Freedom in jeopardy–heed their advice. Don’t be a victim of tax identity theft: File your 2017 return early  
December 6, 2017

#1 Question asked by Landlords in 2017….here’s how to get the answer Correct

The real estate market continues to be on a red hot tear.  Bank accounts are fat, vacancies are low, and demand is still sky high for rental units. Fat, Low, and High.  Happy Dance times. Three market conditions that always, always, always, lead investors and landlords down the path of asking this #1 Asked Question: “Should I continue to rent my property or should I Sell it?” It’s a Simple question with a sometimes Difficult answer. Emotions come into play.  Emotions like fear, greed, regret, anxiety.  “What if I sell it and the market goes up another 10% next year?” “What if I keep renting it and the market goes to Hell-in-a-Handbasket?”   The harder answer to conjure up for most of my landlord and investor clients are the logical ones, like this all-encompassing question you should be asking: “How do I determine, OBJECTIVELY and with FINANCIAL NUMBERS, if Selling […]
November 29, 2017

The Dichotomy of Tenants & Toilets

Ahhh….tenants and toilets.  The two things absolutely critical in rental properties. Each is a dichotomy, too. Tenants provide the Revenue….Toilets provide the means to take waste of out your house. Tenants can break down and not behave….toilets can also break down and not behave. Both can create icky mucky messes that you have to clean up. Some messes are simple to clean up, such as a tenant paying rent late or a toilet clogging up. Some messes are ultimate disasters, such as a tenant trashing a property beyond recognition or a toilet on 2nd floor of a home overflowing for days into 1st floor of a home. Smart Landlords plan for Tenants and Toilets to misbehave and budget accordingly with both money resources and time resources.  Money resources including paying for well-drafted lease agreements and professional services like property management and vendors.  Time resources such as mid-lease audits and preventative […]
 

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