cash flows

September 28, 2016

Vampires and your Rental Properties

If you’ve ever read any of the feel-good books like Tuesday’s With Morrie or self-help books like Stephen Covey’s 7 Habits of Highly Effective People, you already know about the concept of “vampire time-suck“. This is the person or situation that sucks the valuable time (aka “your blood”) out of you by attending certain meetings, taking certain phone calls, and completing to-do’s.  If you think even for 30 seconds here, you can mentally picture that co-worker or vendor or daily/weekly job task that fills this time-suck, can’t you? Me too. Why do I bring this up today? Because one of my property management Clients reminded me how this concept intersects with the financial concept of “discounting value of money”. Here’s the basic concept:  A dollar earned or saved today is worth more than a dollar earned or saved in the future.  It’s the method used to bring future projected cash […]