Dan Baldini

August 25, 2017

Get educated and Get more ROI on your rental investments

Here’s an opportunity for you to take courses typically reserved for only licensed REALTORS. I’ve gotten permission from the Continuing Education school where I teach to offer this to you, my platform members…it will be the best $69 you’ve ever spent on learning advanced concepts related to your rental properties. Registration is now open for Merrillville and Indianapolis classes in November. Property Management Workshop – Indianapolis, IN Property Management Workshop–Merrillville, IN
August 25, 2017

5-Minute Friday

Good morning, Everyone! Here is your weekly 5 Minute Friday, highlighting a couple of the questions or issues posed to me this week. From Terri:   Does offering a house fully furnished change how much I can charge for rent? My Response: Terri–Thanks for the question.  The short answer is Yes, it can and will change how much you can charge for rent…..or rather, a better answer is it can and will change how much you will earn in rental revenue.  Here’s some things to consider when choosing to offer a property fully furnished or completely unfurnished: What is the actual market for furnished rentals in your area?  In most market segments across the country, especially in SFR’s (single family residences), furnished rental demand is a small sliver of the total demand.  As in less than 10%.  So, if you have a 4 bedroom home, if you offer it only fully […]
August 18, 2017

5 Minute Friday

Good morning, Everyone! Here is your weekly 5 Minute Friday, highlighting a couple of the questions or issues posed to me this week. From Peggib:   If a tenant moves out without telling you, cleans out cabinets, closets etc.  and leaves the key but also leaves some crappy furniture behind, are you required to store said items or can you just haul them away?  In this case, the tenant was a tenant at sufferance, but does that make any difference in your responsibility? My Response: Peggi–Thanks for the question.  You just brought up a situation which almost every landlord and property manager has found themselves embroiled in at one time or another.  This falls into the category of possible abandoned personal property.  However, it’s not always so straight forward.  Keeping in mind this is certainly not legal advice and may conflict with the State or local ordinance where your property is location, […]
August 10, 2017

5 Minute Fridays

(No, the title picture isn’t tilted by accident, it is intentional.  Interrupting Broca’s Region of the brain with unusual visual stimuli wakes up our brain matter.) Starting next week, I’ll be posting some fun new items for your consumption.  I’ve been asked to do this for some time now, and fortunately the schedule has cleared up enough to do it thanks to streamlined processes added this Summer. Here’s what is coming for you: 5 Minute Fridays (yes, 5 balls in the air…..) This is where I’ll be answering your quick questions in a rapid fire format.  What questions are fair game?  Questions which can be answered in  5 minutes or less, hence the name.  So, pleasse, no long drawn out deep rabbit hole questions.  (For those scenarios, you’ll be best served with this link http://danbaldini.com/resources/private-client-consulting/)   I guarantee that if you’re thinking of a question about your rentals or your property […]
August 3, 2017

Waikiki Waves + iphone6 = new iphone7 + Process Interruption….what a beautiful mathematical equation, eh?

Ahhhh….Paradise.  Waves, surfing, sunshine, sushi, and luau’s. This is the story of how I recently re-learned the principle of Process Interruption. I took the family on vacation to Hawaii this Summer; truly is Paradise on Earth.  One sunny afternoon, as the wifey and I are lounging on the beach, sipping Mai Tai’s, and watching the kids play with their boogie boards in the waves, she looks up from her book and says to me,”Why don’t you go in the water for a bit and join them?”  So I get up and go down to the waves and do what middle age men do best–I proceed to play like a big child in the waves with them (I gave up caring long ago what most of society thinks of my behaviors; the freedom is liberating…you should try it sometime.). And just like happens with little kids, after 15 minutes of frolicking […]
July 25, 2017

Meet your New Landlord: Wall Street

The Backstory to Now…. Clients who hire me to coach them before and during their first investment property transaction ask how and when and where all the money came from Wall Street to buy so many thousands of rental homes.  Answering them takes patience and detailed explanations as this is the first time in history such a platform of investment has occurred on such a massive scale. This WSJ article does a solid job of discussing the backstory, the history, and leads with some hints about where the industry of property leasing is headed.  After all, big investors have plopped $40,000,000,000 into buying 200,000 houses as rentals. Some questions for you to ponder as you read the article: As a small, private investor:  How can you compete with these powerhouse-landlords on pricing, marketing, and profit margins? As a property manager:  What lessons can you take away from the article on […]
July 21, 2017

Respect. It’s all about Respect.

This article might strike you as a bitch-and-moan session, and it is that in one bit, but please read through to the end as it’s quite valuable.  I promise. Arethra Franklin nailed it with her legendary song…”Give me a little respect….”  {It’s OK if her voice just popped into your head and you started wiggling those hips around and your index finger started pointing up in the air. Move and Groove, baby….} Earlier this week, I attended a “mandatory” training session for a group I joined.  The training session was to give new members a platform to ensure success in the group, so “training”, right? Registering and attending cost me a nominal amount of money but it also cost me, most importantly, 3 hours of my time from 3:00 until 6:00 pm on a business day. Three hours of prime time to do other tasks like Prospecting, Strategic Planning, or […]
July 13, 2017

Good legislation….finally.

The Indiana General Assembly finally passed clarifying language on occupancy standards. If you’ve had to battle this issue with prospective tenants applying for your property, crack open an adult libation to celebrate.  This new language offers you better protection from Fair Housing lawsuits alleging discrimination due to disparate impact against families with children. Beginning on July 1, 2017 the below state-wide occupancy standard will go into effect. Sec. 7. (a) The residential landlord-tenant statute (as defined in IC 32-31-2.9-2) does not prohibit an owner or landlord from refusing to rent a rental unit on the basis of a reasonable occupancy standard. (b) For purposes of this section, an occupancy standard is presumed reasonable if: (1) it permits two (2) individuals per bedroom; and (2) the owner or landlord: 9100 Keystone Crossing, Ste 725, Indianapolis, IN 46240 (A) does not include infants less than one (1) year of age in the […]
July 11, 2017

Professional Development

October and November begins the next round of jet airplanes and hotels for conventions for me.  Coming up are the annual conventions at NAR and NARPM.  (NAR=National Association of REALTORS; NARPM=National Association of Residential Property Managers).   These events are opportunities to add some jewels to the aging Crown of Knowledge and also exceptional networking events with leaders from all over the country and world.  Here’s a brief list of some of the convention sessions I plan on attending: Business Development Session – Empowering Teams and Individuals Ethics Future-Proofing Your Business Buying, Selling and Expanding Your Reach Office Policies & Procedures for Managing Litigation Top 10 Operational Reports for your Business Lawsuit Waiting to Happen – Navigating HUD’s New Guidelines for the Use of Criminal Records in Rental Decisions 7 Steps of Successful Leadership Maintenance – Tips from the Trenches – War Stories & Lessons Learned Take a guess which one […]
July 7, 2017

All is Well….Nothing to See here….

Unemployment is down.  The Stock Market is soaring.  Everyone is happy. But should they be? It’s times like these when that trusty Spidey-sense starts to tingle…play the real estate investment game long enough, and you see the telltale signs of impending mayhem ahead: Everyone and their brother suddenly thinks real estate is easy money.  (We can tell by the phone calls and referrals we get on this qualitative point.  And the calls and referrals are coming hot and heavy right now….) Folks who shouldn’t be buying rental properties are buying them up faster than Fidget Spinners. (Always a dead give away when the question gets asked,”How many months of PITI do you have in reserve for when this property goes vacant?” and the buyer has that deer-in-the-headlights-look.) Banks easing their lending standards to allow for more marginal buyers. (No income, no doc loans are back.  Yes, seriously, they are.) Yup….it’s […]