August 27th, 2010
$100,000 is what you need to close your deal. And it’s a good one at that. Suppose you’re at the point now, where you have enough information on your deal and you have a few prospects of who you could approach as investors for your deal. What’s next is getting your investors to write you the check?
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August 18th, 2010
Many apartment or would-be apartment investors have come to me to learn how to do creative financing for their various reasons. Nearly all the reasons why a person would need creative financing are because:
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August 2nd, 2010
“Pain is temporary. It may last a minute, or an hour, or a day, or a year, but eventually it will subside and something else will take its place. If I quit, however, it lasts forever.”
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July 26th, 2010
When is the perfect time to leave my job to do real estate investing full time? That is a question for the ages (and for the brave!). Now that I am approaching a decade of leaving the corporate world to pursue a life as a full-time real estate investor, I can look back and honestly answer that question. I wish I had more space and time to write about this, but I don’t, so I’ll cover enough to get you thinking and in the right direction hopefully.
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June 23rd, 2010
The last blog, I wrote on two basic yet oh so important things to know like the back of your hand before you buy. In this blog, I want to share with you 2 very important things to watch after you buy. This will save you a lot of heartache and delays of getting paid a monthly check.
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June 7th, 2010
Since apartments are how I make a living, I pretty much look at numbers all day and every day. They’re either my financial or someone else’s. When I’m sitting down with property managers or clients, the focus is on numbers always – income collected, delinquent income, income we’re never going to collect, vacancy percentages, and cash left in the operating account at the end of the month, just to name a few. But after all these years, I am still not a “numbers guy”. That’s not my passion, but to look them over carefully and understand them is a necessary requirement in running a business profitably and responsibly.
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May 21st, 2010
Below is a short interview I did with my friend and client Blake. It shows that creative deals come and go, but the ones that come, you need to pursue with passion. Check it out. Excuse the grammar please!
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April 23rd, 2010
The Starbucks Factor is what they call it. When this highly successful retail chain of coffee hangout houses opens a new store anywhere…magic happens…transformation happens…cash flow happens. The neighborhood is about to become hotter and real estate values will benefit as well. I trust the Starbucks factor because I know that the company has done its homework – sophisticated market and demographic research that will show profitable indicators for a new store even before it buys the space and opens a store. That same demographic and market factor that makes Starbucks open a new store in a new neighborhood makes me want to own real estate nearby. I expect the neighborhood to have a prosperous future. How many Starbucks have you seen close up due to a lack of people?
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April 14th, 2010
Four years ago, there were many millionaire apartment investors nationwide, and I knew quite a few of them personally. But unfortunately today, most are no longer millionaires. Thousandaires perhaps. (I just made up a new word!) The way I look at life is a big educational journey. And the most priceless thing you can learn is life-experience. In other words, you can’t put a price on wisdom. I define wisdom as the application of your life’s experience. I know a few people who not only remained millionaires after the fall of the market, but are even prospering at this time. To me, these people have learned from their life-experiences and have applied their highly valued knowledge to their investing. I observed that they have certain traits and mindsets that no one else has. Here’s what traits I have observed in keeping up with today’s millionaire apartment investors. Traits you can surely adopt yourself – it’s not too late!
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March 26th, 2010
I’d rather have lower but steady cash flow than potentially higher cash flow, but it be inconsistent. Right? Let’s discuss this a little further. It’s a tough world out there for apartment owners right now. Even if you’re not an owner yet, you should pay attention to this as well. Even though we apartment owners are surviving the recession better than the average investor of other commercial real estate property types, we still are admittedly struggling with keeping tenants anchored in our apartments long term.
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