The title of today’s post is derived from the famous scene in the movie, The Godfather. It takes place when Michael Corleone rebukes his brother about an impending action the family is about to take to avenge the shooting of their father, “It’s not personal, it’s just business.” If it’s been awhile since you’ve enjoyed the movie, here’s a link to the clip…The Godfather. If you’ve been a landlord for more than one week, you know human beings, at times, can be messy. Messy in their housekeeping. Messy in their organizational ability to pay the rent on time and plan their household expenditures. And finally, messy emotionally as they juggle the demands placed on them by work, family, finances, and societal expectations. That is part of the human condition. It’s best to accept these shortcomings and embrace them for tremendous success in your rental properties. Or don’t accept these shortcomings and get […]
When I read the article, I started doing fist pumps in the air. It’s only 344 words. The biggest word he uses is responsibility. HERE’S A DUDE WHO GETS IT!!! HERE’S A DUDE WHO UNDERSTANDS WHAT I’VE BEEN FEELING, SAYING, YELLING ABOUT FOR SOOOOOOOO MANY YEARS NOW. ENTITLEMENT IS OPTIONAL. ENTITLEMENT IS STUPID. ENTITLEMENT IS A CHOICE. Man, that feels good…..(I mean, how many of us get pissed off when we have to interact with an entitled moron out there???) And then I reread the article again. And again. And then I stopped fist pumping and read it another time. It’s just 344 simple words but what he lays out as an argument about Entitlement are as complex as the Russian stacking dolls. ‘ Unstack a sentence and it leads to even deeper mental rabbit holes. What’s it have to do with real estate and investing? EVERYTHING. Literally….EVERY DAMN THING. Who among […]
I love the movie with Bill Murray, don’t you? It’s a cute story filled with humor, lovey-dovey moments, and makes you feel good about your life and the chance to control the ending. Real Estate investing is similar to the movie, too…..you have those moments of lovey-dovey, you feel good about your life and the chance to control the ending–your Financial Freedom. And like the movie, it can easily repeat itself to the point of being quite annoying. Expensive, too. See if you can identify with any of the Top 7 most repeated rental property Groundhog Day-esque moments: #7: Slamming a marginally qualified tenant into a vacant property because it’s been vacant so long that the spiders and ants have begun playing formalized games of cricket and soccer on your carpets. Two months later, you end up evicting that tenant and you’re now worse off than before. #6: Ignoring that […]
If you own or are considering owning high end apartments as rental properties, do yourself a favor and check out this article from the WSJ. When a reporter uses vocabulary including “rough conditions” and “slash rents” and “deep concessions” and “glut of supply” ALL in the same sentence, that’s a not-so-subtle hint of the valuable information in the news article. Luxury Apartment Boom Looks Set to Fizzle in 2017 – WSJ Certainly, every market segment from first-time renters to move-up renters to empty-nesters has an ebb and flow to it. It’s capitalism and the forces Adam Smith described centuries ago. What you do with this information is the critical point and take away. Depending on your current interests, this could also be a buying opportunity for some savvy investors to pick up units from distressed landlords. As always, here’s to your pursuit of Financial Freedom!