property management

January 22, 2015

Pull the trigger and ride the bullet.

If you are going to fire a gun, there is an old saying:  Pull the trigger and you ride the bullet. In other words, you take full responsibility for what happens not just at the time when the bullet blasts out of the muzzle of the gun, but for the entire flight of that bullet–where it goes, what it impacts, and beyond. In real estate investing, responsible investors practice this principle.  They know full well that they, NOT someone else, is responsible for everything that occurs on/in/around their units.  In addition, they are responsible for making sure that they have the financial resources available to fix things that go wrong, replace parts that wear out, and the shear guts to make the tough decisions. Also in real estate practice, responsible agents practice this principle.  It has become quite fashionable for agents to provide counsel to Buyers and Investors on the […]
January 27, 2015

Source of Income Amendment

The City Council of Indianapolis is at it again…. They are debating again the Source of Income Amendment that was voted on twice now and defeated twice.  If you’ll recall, I wrote about this idiocy and ignorance of risk/return and rental properties back in August 2014.  They are holding a Rules and Public Policy Committee tonight at 5:30 pm in Room 260 of the City County Building.  If you can attend, please attend and speak out on behalf of your Rights to Liberty and the Pursuit of Happiness. Here’s the link to that prior post….https://danbaldini.com/dont-you-dare-treat-income-sources-differently/ This is like a mental venereal disease that won’t go away…unless, perhaps, we VOTE OUT the Councilmen and Councilwomen who actually side with this socialistic collectivistic agenda. NOW THAT’S an idea that IS worthy of debate!
January 30, 2015

I’m a sucker for watching The Outlaw Josey Wales every time it is on TV. My absolutely favorite scene is the “Missouri Boat ride”.   Josey is riding for his life, chased by the infamous Red legs.  But instead of hustling, he naps.  One cool cat.  Watch the clip below then read on….     https://www.youtube.com/watch?v=t-KEnU9TBmQ&app=desktop
February 3, 2015

How to Maximize your Rental Revenue from real estate

Each landlord we work with has a unique problem—filling their rental vacancy.  On the surface, It may seem like a unique problem to only this industry.  But when you apply business topology, the problem becomes quite common. In fact, there are at least 3 other industries who have almost the exact same problem. Unsold inventory. Billboards, hotels, and airlines all HATE unsold inventory because the moment when time passes, it is utterly worthless. As soon as the date changes on a hotel room with vacancies, that hotel cannot make up the lost profit.  Same with the radio station with unsold advertising slots for radio commercials. Same for airliners that taxi and take off with seats missing rear ends sitting in them. Same for landlords. Which is why we are a strong proponent of aggressive and early marketing of properties with vacancies coming up soon.  Think about the math here…. If you rent a […]
February 6, 2015

How to Hire a Property Manager Correctly…

Below is an unaltered, unedited email from Ken Anderson, a Client of Polaris Property Management.  Enjoy.} On Feb 4, 2015 7:08 PM, “Daniel Baldini” <dbaldini@polarisbrokers.com> wrote: Hey Ken, I need a favor from you, please. You have a unique situation as a landlord whereby you switched from an owner to landlord with a management guy, fired him, and hired us. I’d like to have your first-hand observations of the differences between the guy you used to use and your experience with Polaris. Would you be willing to type out your thoughts (even if simple, run of the spout stuff without editing) so we can help others understand why they should consider hiring us in the future? It would mean a lot to have it in your words, in your ideas… Dan Baldini, MBA (Ken’s response….) Sure. Here you go.. To whom it may concern, In the fall of 2013 I […]
February 17, 2015

New Tax Laws that affect Real Estate Investors and Landlords

The IRS has issued new guidance and regulations that will complicate your tax returns this year and will alter your decisions on how you operate your real estate investment properties.
March 4, 2015

Polaris Property Management wins Best In Class from FC Tucker

FC Tucker Agents: Thank you for entrusting Polaris Property Management with your Client’s rental properties. We are honored and humbled to once again receive the “Best In Class” award for property management. Here’s to continuing the delivery of premiere property management services in 2015!   Dan Baldini is the Founder of Polaris Real Estate & Polaris Property Management, LLC and is also an Adjunct Professor in the College of Business Finance Department at Butler University in Indianapolis where he teaches Real Estate Investing. Dan focuses his practice on the residential real estate markets including Indianapolis, Carmel, Zionsville, Fishers and other surrounding areas. Dan continually seeks out new resources for Team training and education in order to keep all the Team members skills on the leading edge of real estate best practices. He is an active real estate investor himself, owning and managing a portfolio of investment properties in the Indianapolis markets. A resident […]
April 8, 2015

Meth houses

Our daily interactions with Clients, peers, and prospects is always wickedly weird and unpredictable…. I got this text message from a friend of mine after he calls and I click ‘decline’ on my phone… Uh-Oh…..                 You can tell this isn’t going to be a good conversation ending well….                           Take Away:  When your Spidey-Sense goes into orbit, listen to it!!!
April 9, 2015

Good Property Management is more than managing homes….

Some days, we feel like ping pong balls getting batted back and forth over a net that keeps rising higher and higher.  We bounce between tenants, landlords, real estate agents, government officials, lenders, inspectors, appraisers, and contractors.  It can make your head spin if you lose focus on the Goal. “What is the Goal?”, you ask? Simple but complex.  Yes, it’s a paradox wrapped in an enigma. The Goal is this:  Assist our Clients move towards their objectives. Sometimes that Goal is to increase wealth by generating capital appreciation of an asset.  Sometimes it is to generate cash flow for living expenses.  Sometimes it is to simply liquidate a property and harvest the equity. Thank you, Mr. McKnight, for inviting our team to assist you in reaching your Goal.  It was truly our pleasure to serve you.     Dan Baldini is the Founder of Polaris Real Estate & Polaris Property Management, […]
June 9, 2015

The Cost of Your New Water Heater will make your blood boil.

Landlords and Home Owners–get ready to open your wallet deeper. All water heaters available for purchase after April 16, 2015 will be taller and wider than prior models in order to achieve the required efficiency ratings ordered by The Department of Energy (DOE) back in 2010.  The law is just now in effect. Most manufacturers report that the retail price will increase 25%. But that’s not the only cost you could be incurring.  The new sizes of the tanks will make replacement a logistical challenge in tight spaces.  It may require reframing a utility room, doors, and HVAC run changes. So be prepared for the new costs and inconveniences, swallow hard, and realize there is not a dag nabbit thing you can do except stomp your feet and pay up. Dan Baldini is the Founder of Polaris Real Estate & Polaris Property Management, LLC and is also an Adjunct Professor in the College of Business Finance Department […]