I’m generally a patient person. Let’s face it….to succeed or even survive in property management and leasing you must have a reservoir of patience to interact with all the craziness of our industry. I’m also generally an understanding person. Life happens, I get it. We are all humans and screw up. So I’m a patient and understanding person…Until I’m taken advantage of by someone for these traits of generosity. At that inflection point, I transform into what my title company rep infamously nicknamed me: “BB Baldini.” Ball Buster Baldini. When I reach that level, the gloves come off and it’s not pretty to be on the receiving end. So when a Client or vendor jerks me around for payment or is acting in an in-congruent manner with the expectations set between our two entities, it’s Go Time. Unless resolved correctly, it ends with me firing them. Is that mean? Is […]
Freshmen and seniors at about 200 colleges across the U.S. take a little-known test every year to measure how much better they get at learning to think. The results are discouraging. At more than half of schools, at least a third of seniors were unable to make a cohesive argument, assess the quality of evidence in a document or interpret data in a table, The Wall Street Journal found after reviewing the latest results from dozens of public colleges and universities that gave the exam between 2013 and 2016. Ouch. Double Ouch. https://www.wsj.com/article_email/exclusive-test-data-many-colleges-fail-to-improve-critical-thinking-skills-1496686662-lMyQjAxMTI3MDA4NjcwMzY0Wj/ I bring this new article to your attention for the following reason: Rental properties involve, fortunately or unfortunately, human beings. As I have written about human beings in other articles on this site, we are messy creatures–physically, emotionally, and mentally. (I mean, come on….if we weren’t, we wouldn’t have jobs in leasing, property management, real estate, court […]
The real estate market is having a record-breaking year. Agents are selling their listings in literally hours on the market instead of weeks and months. Yet when reading some of the comments on various social media posts like Twitter and Facebook, you’d think the world was falling apart, planets are about to collide and millions are about to die Agents complaining about how other agents aren’t changing their status in the BLC fast enough to reflect accepted offers. Agents complaining about how inspection responses from Buyers are ridiculous and out of control. Multiple offer scenarios and issues with paperwork. Buyers complaining about a lack of homes to buy. I’m calling Time Out. Let’s all take a deep breath and drop our shoulders a half an inch before we all get a migraine. Perhaps it’s time we reflect on just how damn good we have it. We live and work in a […]
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 […]
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 […]
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
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?
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 […]
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 […]
All, Here’s the YTD rental stats for the areas we track in Indianapolis and surrounding communities. 2017 has started off strong with stable pricing, stable DOM, and stable inventories. Indy Rental Stats YTD Stay focused my friends, as I don’t anticipate this staying the status quo into Q3 and Q4. More about those expectations at a later post.