All Forum Posts by: Brad Mcleod

i am a little leery of John T Reeds advice as he has not done a real estate deal in this decade. He seems like a bright guy and does have a good angle (dwell on negative) to bring in viewers.

that said - I have a slightly different story.

I signed up for RichDad coaching over 4 months ago and have been through 16 weeks of their mentoring. I have also read and underlined most of the RichDad books and listened to all of their CD's and all of their podcast.

I have found the program to be helpful - but it will not be the magic silver bullet to make you a real estate superstar. That is something that you will have to do - each and every day.

I have learned alot - and my real estate coach - Travis - has a lot of real world experience in single family homes and apartment. He challenged me each week to perform daily actions and we set goals. I did a ton of homework and feel like I have gained alot in the past 4 months.

in the end - the program is more about you - and what you will put into it. If you go to a gym and spend a ton of money and think that the Gym is going to make you an Arnold Schwarzenegger - then your sadly mistaken. Arnold put in a lifetime of discipline and money and time to get to where he is at. You will have to do the same.

I would spend $4k again tonite if I knew that I could push myself closer to my dreams and goals.

Today I have 7 quad apartments and 1 single family house - all 100% rented - this is because I devote myself to daily action, I learn through programs like RichDad and others books and CD's and Podcast - and get out there and get the job done. I say that with full humility having worked hard through sweat and backache to get to that point.

I encourage all of you to take the time to learn as much as you can to gain your financial freedom. I will be happy to answer any questions anyone has on the program (or others.. I have a full bookcase of books, CD's, DVD's and cassettes).

all the best to you all in investing 8)

I agree wholeheartedly.

I spent a fair amount on the RichDad coaching but in the end, I had to get up off the couch and get the job done. The RD coaching pushed me - but I also had to push myself.

Getting out there and driving the streets, writing down addresses, writing letters, talking to owners, making offers and finally getting to a closing - are all made up of daily actions that you have to take to move yourself forward.

The courses help - but in the end - you have to help yourself.

Success for April 2008

Renting the last of our vacant apartments. We are now full. 28 for 28.

A great success - but we have to keep doing all the little things that make a difference to keep them rented.

I am an Atlanta investor and my business partner and I specialize in quad apartments for the past 2.5 years.

We both got our start a few years back in single family rentals and gradually migrated towards apartments.

We are always looking for new investors to team up with and practice an abundance mentality and like to help others.

Look forward to meeting more of you and meeting local ATL investors.

I saw this post and had to read and respond.

This is an excellent point about mindset that I beliece that some investors overlook. Dealing with the rollercoaster highs and lows of real estate can be a real challenge as you try to navigate minefields and make your way to the other side.

Tiger Woods and Michael Jordan are great examples of perserverance, focus and determination. They got that way through their daily habits and commitment to greatness.

I posted up a list a few months back on our blog (link below in signature) of my Top Ten Self Development Books for a Real Estate Mindset.

post up your list of books and CD's that you use to help maintain and improve your real estate mindset.

I like to download podcast from:

Internet Business Mastery - Jay and Sterling

Internet Marketing Secrets - Michael Campbell

Internet Marketing podcast with Mike Filsaime

I listened to 2 episodes of the Mike Filsaime podcast today and also have a great interview with Mike Litman and Mike Filsaime that I have listened to several times.

I am reading the new book "The E Code" by Joe Vitale at this moment which is helping me as I work on my blog.

any feedback or comments on my blog would be much appreciated.

Yes, absolutely. I would raise their rent some each year regardless but would always go back and run the numbers (inflation, mortgage note, water bill, taxes, security light, maintenance, etc.) and make sure the numbers work to positive cash flow.

the last thing you want to do is to not raise the rent for 3 years and then get a bump up on your water bill or taxes and then have to raise the rent all in one shot.

easier to do it gradually over the years keeping pace with inflation and expenses.

Brad McLeod

I got my start when I decided to rent our first house instead of selling it. I got off to the rocky start renting to Gypsies - but have rallied and rented to the same person for 4 plus years.

I eventually gravitated to quad apartments and now have 7 that are almost fully rented (27 out of 28) and am learning as much as I can everyday.

Brad McLeod

Things we do for additional revenue

1. We spray for bugs for a charge of $15 per unit. It may not sound like much but when you add up several units - it is good money. It only takes about 10 minutes to spray so about $90 an hour minus the supplies.

2. We charge $10 a day late fee up to %10 of gross rent fee.

3. We also do odd jobs for other nearby apartment owners and make small fees on these jobs (gutter cleaning, painting, hauling off trash, cleanups, mowing grass, etc.). Many landlords may scoff at this as it is not an effective use of your time. But believe it or not - it is an excellent way to get to know other landlords in your area and they will often contact you first if they want to sell their unit.

Brad McLeod

I dont mean to be morbid but will post up this story. I am saying a little prayer before I post this.

We bought our first quad and had closed the deal. I was not able to get the keys to the quad from the owner at the closing but she promised to get them in a few days. No problem.

4 days later I got a call from a very concerned friend who told me that one of my tenants - and her friend - had not made it to church over the weekend and wanted to tell me as that was not her nature. She was very worried about her as she had knocked on her door and noticed her car in the driveway.

I was very alarmed and went right away (it was about 8:00 at night). We got there and knocked on the door. No response. I had no keys so I nervously called a locksmith. He can in about 30 minutes and jimmied the lock. The top safety latch was latched - so you can imagine what that meant. She had to be inside because you cant latch a safety latch once your outside. The locksmith looked at me and said "I am done, it is yours from here". I leaned into the door and knocked through the safety latch and found the tenant had committed suicide by hanging herself. It was beyond horror. It was a very sad night.

It was my first quad apartment and I was new to the market. We rallied and got back up and going and now have 7 quads in that area. It was a very rough start and challenged our will to keep going. We are glad we overcame a horrible start and are now prospering.

Brad McLeod