April

April 28, 2017

Situational Awareness & Your Personal Safety

Today’s blog post is related to your personal safety.  PLEASE PLEASE PLEASE take a few minutes to read this information and incorporate it into your personal and company protocols. Dear Colleague, I am writing to share tragic news from South Bend, where a REALTOR® was brutally attacked and raped last Thursday afternoon while photographing a vacant home (not preparing to show the home or meet a client as the article says). The REALTOR® is a member of the Elkhart County Board whose Association Executive, Julie Alert, told us that an alarm sounded during the attack which caused the attacker to flee and neighbors to call the police. Police arrived to find the REALTOR® unconscious in the basement of the home. No arrests have been made.  Please take a moment to share this news with everyone you know in the industry, so that it may serve as a reminder that safety precautions are […]
April 25, 2017

If you are in the real estate business and don’t own rental properties….smh.

I was chatting with a lady at a local association meeting who was nervous about her retirement coming quickly in less than 10 years.  She was, as many folks just like her, not prepared financially to put up her spurs and sip on a fruity beverage on a beach.  After lots of dialogue, it hit me like a ton of bricks. This person owned zero real estate besides her home.  And she is a licensed REALTOR.   Why would a person in the industry not take advantage of the unique opportunity they have to increase their wealth?  It boiled down to ignorance and fear for her. Literally sat there shaking my damn head…. So, the question on the table is this: Should you invest in rental properties for income when you retire? My short answer is this: 90% of you in this audience probably fall into the damn ignorant stupid foolish category if you […]
April 18, 2017

Surprising things once you retire…..

We’re all racing towards Financial Freedom. Here’s an interesting article by a fella who arrived there early and the 10 things that surprised him once he quit his job. Enjoy and here’s to your pursuit of Financial Freedom! http://www.businessinsider.com/early-retiree-shares-10-things-that-surprised-him-after-he-quit-his-job-2017-4?utm_content=bufferdc7c8&utm_medium=social&utm_source=facebook.com&utm_campaign=buffer-ti
April 18, 2017

What if the rental market had a “Correction?”

Here’s the latest rental stats….like previous months, not much of a surprise as the rental market metrics continue to be strong. YTD Rental Stats But what if the rental market in your area had a major correction? How would you survive if the rental prices for your properties dropped by 30%? Do you have sufficient cash reserves to ride out extended vacancy months of 3, 4, even 6 months? Do you know what your Break Even is on each of your rental units? And Here’s the most important question: If you don’t know the answers to these questions, what do you think your mental anxiety will be like and your level of stomach acid will be like when we DO have this correction?  
April 10, 2017

Truths in Property Management

A number of years ago, I went to the Indy 1500 Gun Show with a buddy. He was in the market for a specific rifle; I was looking to buy a .40 caliber pistol. We wandered for two hours among the booths and tables and came upon a re-seller dealer from northern Indiana who was selling almost exclusively Glocks. And they were priced very aggressively. (Side note: If you’ve never been to a gun show, it’s truly one of the bucket experiences to complete, even if you’re not a firearms enthusiast. You have thousands of people walking around buying and selling and trading everything from firearms to ammunition to hunting and camping and survival gear to even jewelry. And every single person is on their best behavior saying,”pardon me” or “I’m sorry” or “excuse me” when they accidentally bump into you. Very polite and well-mannered people.) Anyways, I find a […]
April 7, 2017

Renters Now Rule Half of U.S. Cities

52 out of 100 largest U.S. cities were populated by more renters than homeowners in 2015, according to U.S. Census Bureau data. Think this may, just may, have serious financial implications for landlords, investors, and other stakeholders in these communities and beyond? Uhhhh, Yup. Here’s the full article published 3/23/17 about this trend: http://m.nreionline.com/multifamily/renters-now-rule-half-us-cities?NL=NREI-21&Issue=NREI-21_20170324_NREI-21_750&sfvc4enews=42&cl=article_4&utm_rid=CPG09000005928948&utm_campaign=8879&utm_medium=email&elq2=2497704fe62a40cbac47d1c8bd97e3b9 So, what’s the takeaway for you? We are in the midst of another mega demographic shift, but this time from multiple age groups.  Both baby boomers and Millennials this time around are contributing to this shift. The rental market should stay extremely strong through 2030.  That’s another 13 year bull market run for landlords. Home inventories will remain tight for renters to buy.  This means your renters who will soon become home buyers, will certainly be looking for an option to do an early lease termination.  Smart landlords will have their leases updated to offer this […]