OK, ok, full disclosure, this one is really for me. When recently analyzing a real estate investment opportunity, I added an expense that is not considered an operating expense and it totally through off my evaluation of the #s and almost resulted in a very offensive offer. Sometimes offensive offers are required, but always take … Continue reading Real Estate Investing Terms: Net Operating Income
A friend of mine recently asked to see a blog post about our first few acquisitions. Starting to provide him with those links (on what I consider my wife and mine's first buy and hold deals and not my false start), I realized I never posted about our very first deal. How rude of me! … Continue reading We Will Never Sell This Rental Property…SOLD!
I recently found myself in an advisory roll for a couple individuals, Eric & Jolene. Complete strangers to me but Eric & Jolene reached out for some advice on purchasing their first duplex, happy to provide. To my knowledge these newbs at real estate investing don't know one another as one lives in North Carolina, … Continue reading Should I Buy This Duplex?
One of the more common questions I see or hear. "I don't have a lot of money and by that I mean, I have approx. $10k and I want to invest in Real Estate. Where do I begin?" Some people will tell you to wait until you have more money, $100k even. I'm not that … Continue reading I Have $10k to Invest in Real Estate. Where Do I Begin?
Go out there and get to work. Just go do it, stop asking people what you should do...You're not dead. If it doesn't work, adjust, change courses and do something else.
"Blue 42...Hot Route - RED 7 RED 7...settttt HUT!" In 2008 I fell in love with who is now my patient & caring wife and awesome mother to our children. She grew up (in-laws still reside) not far from Clemson, SC, so naturally she is a Tigers fan. Myself, I was blessed to be born … Continue reading How Collegiate Football Success Affects Real Estate Appreciation [case study]
I love this time of year. Time to reflect and time to focus on setting goals for the New Year. I took the above photo at my parents' over Christmas. Don't recall ever experiencing a sunset quite like this growing up there but then again I probably wasn't looking as a teenager. Wish the camera … Continue reading Time to Reflect, Time to Set 2018 Goals and Begin Pursuit
*Repost from December 2016; as we get into the holiday season, childhood family traditions become nostalgic and lead me back to this little story... "If you can move the house by the end of the month, you can just have the whole thing!" ____________________________________________________________ As the year is coming to an end, the sights, sounds, … Continue reading How to Find REI Opportunities: Just Ask
I hear this question a lot. The quick answer is No. Since the World Series (Congrats to the World Champion Houston Astros!) just wrapped up, I'll use some baseball analogies to help answer this question. Long has been the day since this 5'8, 120 lbs high school junior kept the pine warm for those starters … Continue reading Does Your Realtor Analyze Deals Before Bringing Them to You?
If you're keeping up with us, you know we've traditionally purchased SFR and small MFRs, but through some hard work, late nights and leveraging relationships, we were able to step into the Apartment Complex realm and the anticipated return on this turnaround project is better than any personal acquisition yet. Here's how we did it... … Continue reading Purchasing Our First Apartment Complex
Shortly after the letter was delivered via Certified USPS mail (signature on delivery), I received a phone call. Although short-lived, I was excited to learn the current occupant was willing to sign a lease. ____________________________________________________________ Back in November I wrote a blog titled My First Tax Deed Purchase and described the situation of an … Continue reading Results from Certified Letter to Unknown Occupant [Letter]
I'm eventually going to find the right lending partner(s) to have a long lasting relationship with and as we focus on our next acquisition, I selfishly wanted to create this punch list for my own future reference. ____________________________________________________________ In recent posts I've expressed my horrible experiences with a couple of unorganized lending institutions. As we … Continue reading How To Prepare for a Residential Loan Application for REI (spreadsheet)
And now for the after....we now have properly screened tenants (which are paying rent on time), an improved property and a decrease in criminal activity for the neighborhood. ____________________________________________________________ In February I posted a horrific scene of a recent tax deed purchase in Pensacola that turned into an eviction, that turned into the tenant destroying … Continue reading Evicted Tenant Destroys Property – 6 Month Follow-Up
Recently I discovered how to invest in Real Estate using a Self Directed IRA, commonly referred to as SDIRA. Now that we're a little further down the road with this one, I wanted to document our experience in hopes that it helps others. Keep in mind I'm not a legal or accounting professional and this … Continue reading How We Used Our IRA to Invest in Real Estate
When opportunities arise, we tenant proof our rental properties as much as possible. This usually means putting in hardwood or tile flooring. As properties turn-over, a hard surface floor is not only easier to maintain but should last longer (through multiple tenants). We are also finding this to be true in our personal home where … Continue reading Product Review: Hoover FloorMate® Deluxe Hard Floor Cleaner