Times they are a changin’……again. A new study by Pew Research Center shows that young people are choosing to live with their parents in a higher amount than ever before in modern history….even higher than living with a romantic partner. Why the change? Pew researchers suggest several factors, including declining employment among young men in recent decades and lingering effects of the recession. But the researchers said that the chief reason is a “dramatic drop in the share of young Americans who are choosing to settle down romantically before age 35” either with a spouse or a partner. “Forming a new family is not nearly as important as it was for young adults,” said Richard Fry, a senior researcher with Pew, a nonpartisan think tank that conducts public-opinion polling, and does demographic research. So what does this mean for Landlords and Investors? It could mean the following: Your rental properties with a target demographic of this age group may be tougher to fill due to financial constraints of the tenants moving out of […]
It’s Race Weekend! Indianapolis buzzes excitedly during the month of May with the Indy 500. If you’ve never attended, it is a highly recommended ‘bucket list’ item. Over 300,000 spectators watch 33 drivers strap themselves into horizontal rocket ships zipping at 230 mph around a 2.5 mile oval. It is simply a spectacle to watch. Before the weekend activities commence, I thought it would be enjoyable to compare how the best racing teams win this pinnacle event with how the best investors, landlords, and property managers win their own pinnacle event–their Financial Freedom. Rules of Racing As with every kind of sport, there are rules, regulations, laws, and customs that must be obeyed. Some of the rules are for playing fair with each other, some are there to provide a base level of safety, and some are there to provide an element of controlled risk/enjoyment for the players. Just like in the […]
Good afternoon, everyone! We’ve updated our monthly market report for Indianapolis and all the surrounding areas. Click the link below for all the April 2016 stats! Dan Baldini Rental Stats 2016 Indianapolis markets
Margin–that critical component Margin….What comes to mind for most real estate investors, landlords, and property managers is financial concepts, such as Profit Margin. Or maybe Gross Margin. Or, if you are a particularly deep financial geek–Contribution Margin. And that’s all well and fine. Yes, savvy investors fuel their Financial Freedom by keeping a focused eye on their financial margins because without them, let’s face it, losing money on rental properties flat out sucks. What I’m offering to plant in your fertile mind today is a different kind of margin. In some very very smart people’s minds, like Dave Ramsey for example, it is one of the best kinds of margin. The kind of margin I’m mentioning here is margin for the unplanned. Unplanned expenses. Unplanned sources of emotional pain. Ultimately, Unplanned changes in your overall plan for Financial Freedom. Unplanned expenses: In my experience in counseling hundreds of real estate investors […]
All, Here’s the Q1 2016 Indy area Rental Stats. So far, it’s been a bountiful harvest! As always, if we can be of any assistance, call or click. Q1 2016 Indy Area Rental Stats Please note: Our firm puts these numbers together not by city, but by school system/area.
Yes, it is sometimes necessary to fire a Client…. In fact, it is one of the best actions you’ll ever do for your property management business. You work hard to earn Landlord business. You advertise your services, you interview, you scrap and scrape to retain your client’s when the proverbial SHTF (and it frequently does in the business of managing other people’s rentals.) You work excessively long hours. You even, sometimes, have to rebate back fees or stroke a check when someone in your company or a vendor screws up royally. We’ve all done it. But…..there comes a point where you grit your teeth with some clients when you wish you never wrote their business, isn’t there? Again–we’ve all done it. I certainly remember more than a few clients early on in our property management company’s history which I wish I would have terminated our services earlier rather than later. […]