Back from Chicago

Back from Chicago and happy to be physically present for the rest of this project.

I have the quotes for insurance, good news there, a total of about $700.00/year less than planned, everything is insurable except the roof on one duplex which we were planning to replace anyway. Given our hail situation here, I'm thinking of looking into high impact roofing. That may be a post of its own soon.

Still have not identifi...

New Home Office Deduction Loopholes You Need to Know for 2013

Gone are the days when home office deductions were an IRS “red flag”. In fact, the IRS has actually made it easier than ever for some taxpayers to claim home office deductions. For the first time ever, taxpayers now have an option in choosing how to deduct their home office expenses. Starting in 2013, taxpayers can now choose between the regular method and the new “simplified” method when calculating their home office deductions. First, it ...

Property Managers: What Do You Bring To The Table?

If you’re just starting your own property management business, it’s important to identify what you bring to the table. Is it your expert customer service? Affordable fees? Years of property management experience?

Whether you’re planning on managing multi-family units, rental homes, or commercial properties, the skills and experience you can identify and later offer

Early Days, Financing

When I first heard about this opportunity I discussed it with the banker. I use a portfolio lender and have all of our properties and a line of credit through this community bank. We also financed our personal home through this bank so they really know our business. The banker is a totally on-board trusted team member and I count on him to help me process these kinds of opportunities.

Our original business plan involve...

Play Detective With Your Fears

What Do You Do When You Don’t Understand Something You’re Interested In?

If you’re like most people you investigate it. You begin to talk to your friends and family about it, ask questions, research the internet, read books, attend seminars, workshops, and maybe even sign up for coaching or mentorship to help you improve at it.

In o...

How Do I Find a Mentor?

It is a Common Question on Bigger Pockets

How Do I Find a Mentor?

One theme that comes up regularly on Bigger Pockets is new investors wanting to know how to find a mentor. It's a common question because it is often recommended here on Bigger Pockets that newbies get a Mentor.

So How do you find a mentor?

1) You can pay for a mentor

2) Ju...

Control Your Future By Having Self Directed Retirement Accounts

In life, everything is bound to end. Your work, resources and investments, all will one day come to an end or someone else takes control. When working, you should ensure that retirement savings are prioritized. This will assure that in old age, you will never be a burden to your close ones, especially when it comes to financial status

Me (inside, OH S*%$)... outside "well, that's a little unexpected, let me call someone and see what's going on"

Seller - "maybe you should call my daughter."

Me "no worries", call daughter

Daughter "we...

So it's starts

So i had my first of many meetings today and got a lot of good advice. I was talking to my attorney and he advised me to contact the mayor of the city to get a few leads of houses the city is having trouble with to get into contact with the owners. Now I know in many markets bigger citys this would not be afftive but in a smaller market like I live i feel as tho it might be affective. If it works you will sure know about it. In my marke...

Real Estate Investor and A Realtor

Some people imagine that real estate investors and realtors do not rub along together harmoniously and while the two groups may not always see eye to eye, the idea that they are inevitably enemies is just an urban myth. The truth is that investors and real estate agents have a more harmonious relationship than many imagine or suppose that they might. Collaboration rather than confrontation is more likely in most cases, most of the time al...

Scarcity of Bank Lending Drives the Private Lending Market

Although the economy has shown some signs of improvement, there continues to be a scarcity of bank lending. Many entrepreneurs and businesses seeking capital are turning to private lenders, who may be able to offer more flexible terms and conditions to qualify for a loan. Investors can use their self-directed IRA accounts to finance private lending, creating arrangements that are mutually beneficial to both borrower and lender.

<...

Unmotivated Sellers Will Suck the Life Out of You

What is a motivated seller?

It's not someone who wants to sell. It's not someone that wishes they could sell. A motivated seller is someone who MUST SELL! From their point of view, they don't have a choice. They've got to get rid of their house as soon as possible.

More time is wasted talking to, conducting due diligence on, and meeting with unmotivated sellers than any other...

$100 Expense Reduction Challenge

Hopefully you've decided to join other BP members and the LeadingLandlord.com community in trying to reduce your expense by $100 per month per rental property. I'm offering a $20 Home Depot gift card to the first 10 people who can produce documentation of their $100 savings.

Here's a list of the ideas and suggestions you ...

How to Maximize Tax Benefits as a Real Estate Investor

Real estate is one of the few investment vehicles which allow a taxpayer to receive monthly cash flow and appreciation while claiming a tax loss on that same investment. As real estate investors, most of you may already be familiar with the various tax benefits you may be able to take advantage of under the depreciation rules allowable by the IRS. Although the tax benefits of real estate investing are great, there are some limitations to ta...

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