What is a rookie mistake people make on their first investment?
Tuesday, October 08
In my opinion, the biggest rookie mistake new investors make is paying too much for the property. You need to back your way into the price. Knowing what a house will sell for fixed up or if it is a buy and hold, what it will rent for, is the most important number you need to make your decision....
Expect Delays; Count on the Worst
Wednesday, August 15
My 81-year-old dad is the guy that drives his family nuts. We love him but if you go anywhere with him you must be ready to leave at least 20 minutes before you really need to leave. He always expects delays. Normally with him, we are the first to arrive and often stand around waiting for others ...
Cash Can Be a Real Killer!
Monday, August 06
I'm a big fan of Dave Ramsey. Here’s a man who started in real estate in his early 20s and he tells a great story about how he's at the gas station in his new foreign luxury automobile hoping that his credit card will work. He can’t afford to put gas in it because the bottom dropped out of his ov...
Lessons Learned from Surviving the Real Estate Cycle Downturns
Tuesday, April 18
Growing up, I can remember my Grandfather being so conservative (at the time, I called him cheap). He had distrust for banks, never spent money on investments, passed up numerous real estate opportunities, kept cash hidden, always had “back up jobs” and died with a ton of money. He often talked...
Real Estate is an Art Form: Think outside the Box
Thursday, April 06
I just got off the phone with an experienced builder who is interested in purchasing a track of land two blocks from a quaint, high-end downtown community in the mountains. He would like to build starter homes that would sell between $220,000 and $240,000. He proceeded to tell me how difficult i...
Money Popping up Everywhere
Thursday, March 23
I sure do miss the good ole days when my lending company was one of just a few available. I am sure investors and wholesalers miss the days of their low hanging fruit as well. More competition does and should create more and better options for us. As a rehab or small, new construction borrower...