Richard has written 176 article(s) for the BiggerPockets Blog.
Landlord Tenant by Richard Warren | February 6, 2012Several days ago I read a great post by Michigan landlord, Dennis Fassett, in the Biggerpockets blog section (article). It would have been hysterical if only it wasn’t so true. He discussed what he called The Boyfriend Disorder. He wrote about what happens when a prospective tenant shows up to view a property and has [...]
Real Estate Investing by Richard Warren | January 2, 2012 
I remember the auto parts commercial stating that you could prevent a costly engine replacement by simply changing the oil and filter on a regular basis. The tagline was “You can pay me now, or you can pay me later.” That certainly applies to real estate. Performing preventative maintenance on a regular basis can help [...]
Read the full article → Foreclosures by Richard Warren | December 5, 2011So many people have walked away from homes that are hopelessly underwater. With little prospect of recouping their losses, or faced with a difficult personal financial situation, they have made a decision to let the bank foreclose. Prior to 2007 this would have resulted in an income tax liability on the amount of any forgiven [...]
Landlord Tenant by Richard Warren | November 7, 2011 
As a real estate investor and landlord you need to have a strong and trustworthy team in order to have a strong and vibrant business. Operating as a one-man-band is fine at first and a majority of successful people probably started just that way. However, trying to manage all aspects of your business while taking [...]
Read the full article → Real Estate Investing by Richard Warren | October 3, 2011 
One of the biggest obstacles to success as a real estate investor is emotion. It’s part of being human. Imagine you are shopping for a new car. You do your research on the internet, you read reviews in various publications, calculate exactly the highest price you are going to pay and head to the showroom. [...]
Read the full article → Real Estate Investing by Richard Warren | September 5, 2011 
As a smart real estate investor you spend a tremendous amount of time deciding to purchase a property. Even in markets that are red-hot and fast-moving you analyze the situation and decide on your investment parameters so that you can pounce on a deal the moment you recognize it. But what about selling? Choosing the [...]
Read the full article → Real Estate Investing by Richard Warren | July 31, 2011 
Thinking back to the early 1990s I recall my first foray into the real estate investment jungle. I had a very good working knowledge of a few areas of the business, primarily finance and home renovation. In the areas where I wasn’t as strong I sought out experts who were. I learned what I could [...]
Read the full article → Real Estate Investing by Richard Warren | July 4, 2011Two-hundred and thirty-five years ago the founding fathers of our country signed the document that declared their intention to break away from the rule of the British monarchy. The colonists wanted to be able to govern themselves and make decisions for their own welfare rather than be subject to the desires of others. In short, [...]
Economy by Richard Warren | June 6, 2011I was the featured speaker at my local real estate club a few days ago. There was a good turnout with the typical mix of novice, moderately experienced, and well-seasoned investors. Before beginning my presentation on evaluating rehab properties, I provided a brief update on a fairly significant economic event that would happen at the [...]
Real Estate by Richard Warren | May 2, 2011 
You’ve heard the reports. Las Vegas leads the nation in foreclosures and unemployment. Some statistics say that Southern Nevada homeowners are more than 70% upside down with no hope in sight. Major construction projects have been halted and the massive City Center complex is not doing nearly as well as hoped for. Well, stop spreading [...]
Read the full article → Real Estate Investing by Richard Warren | April 4, 2011 
When you’ve been investing real estate for a long time you may reach a point when you are ready to sell. Perhaps you’ve had enough of the headaches of being a landlord, maybe you want to pursue other opportunities, or are ready for a lifestyle change. This is not to be confused with desperation to [...]
Read the full article → Real Estate News by Richard Warren | March 7, 2011 
The turning of a calendar page from one year to the next often brings with it a renewed sense of optimism. In recent years it was more like, “Oh no, here we go again.” Predictions would forecast more of the same. More foreclosures, more lost jobs, lower home prices, and more of the same old [...]
Read the full article → Real Estate Investing by Richard Warren | February 7, 2011 
I remember going to my first major league baseball game. I was ten-years-old when I went to see the New York Mets at Shea Stadium. That ballpark was located in the middle of nowhere, surrounded by auto salvage yards in the borough of Queens. It seems like stadiums of that time were located on whatever [...]
Read the full article → Commentary by Richard Warren | January 3, 2011 
Another New Year dawns. For many, the last several trips around the sun ended with a sense of relief when they were finally over. Will this year be any different? Some may feel the way baseball fans do every spring – this is a championship year! But is it? Or will they just see their [...]
Read the full article → Landlord Tenant by Richard Warren | December 6, 2010 
Most investors and a fair number of retail home buyers would never consider purchasing a property without a thorough home inspection. This is your opportunity to uncover problems and negotiate their resolution with the seller prior to closing the deal. The proper escape clause in your purchase contract also allows you to walk away from [...]
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Real Estate Optimism in the New Year?
by Richard Warren | January 3, 2011Another New Year dawns. For many, the last several trips around the sun ended with a sense of relief when they were finally over. Will this year be any different? Some may feel the way baseball fans do every spring – this is a championship year! But is it? Or will they just see their [...]