The more time I spent at the property, seeing the # of kids riding their bicycles through, I'm happy we got him out and giving us a chance to clean up and improve the neighborhood. In a November 2016 post titled My First Tax Deed Purchase I talk about just that and the unknown tenant … Continue reading Evicted Tenant Destroys Property
Given that it has been 2+ years since we went through the process of purchasing our primary residence (and the Pensacola real estate market seems to be recovering), I was optimistically hopeful dealing with banks wouldn't be as painful this time around...boy was I wrong! ____________________________________________________________ In AH BANKS! Pardon My French - Part 1 … Continue reading AH BANKS! Pardon My French – Part 2
I wanted to save money, she wanted the comfort. Another DIY that solved a problem. ____________________________________________________________ Why we own the Nest Learning Thermostat: It bothers me to leave the HVAC running when we are not at our primary residence in Pensacola. Not as extreme as my dad, but I am focused on turning off our unit … Continue reading Product Review: Nest Learning Thermostat
It could have been that my wife passed the exam on her 1st try and I was convinced I wouldn't - we like to compete! ____________________________________________________________ Many Pensacola RE investors are also licensed Realtors. Being a life student (PMP, MBA, Six Sigma, MCP, BS, etc.), I thought it was only natural for me … Continue reading Should I or Should I Not Get My Real Estate License?
Growing our net worth is one of the main reasons we invest in real estate. I also think it is important to calculate your net worth on a routine basis; I calculate ours quarterly. This helps me keep track of our goal obtainment and also encourages me when months go by where we're paying down … Continue reading How To Calculate Your Net Worth [Spreadsheet]
One of the best and simplest home improvement things we've done & for our sanity! ____________________________________________________________ Why we own it: It's inevitable. We pack up to leave, day trip for shopping, the beach, out of town for the weekend, a short trip to the grocery store or to grab a bite to eat...it never fails. … Continue reading Product Review: Kwikset Smartcode 913 Deadbolt
Starting this year I thought reaching $1,000/month in cash flow was out of reach, thought I was shooting high, but early mornings, late nights, and a great team made our goal a reality before I knew it. ____________________________________________________________ Put me in Coach! We started 2016 with only one unit and set out with a goal … Continue reading 2016 Results & 2017 Focus
"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, and smells of Christmas often remind me of those precious childhood memories. Forcing me to reflect and think about love ones who have passed … Continue reading How To Find REI Opportunities: Just Ask
We consider appreciation extra icing and don't acquire based on assumed appreciation, but we also don't want to be put in a position to exit a property and be required to bring money to closing. ____________________________________________________________ If you've been following us you know we have adopted a tripod of investing criteria we use to analyze … Continue reading How We Use Our Tripod of Adopted Investing Criteria
Do I just walk up, knock on the door and tell them you're in my house? Start paying rent or leave? How well do you think that will go over? ____________________________________________________________ Like many states, Florida is a tax deed state, meaning, if you own the tax deed (or win it at the county tax … Continue reading My First Tax Deed Auction Purchase [Letter]
Not really even month 1, weeks 1 & 2 we received our first service calls. Broken A/C in unit B and leaky sink in Unit A. I initially thought...Fun Times Ahead! but quickly reminded myself we bought these units knowing repairs and deferred maintenance were on the forefront. _________________________________________________ In April of this year, I wrote the article … Continue reading How We Used Our IRA to Invest in Real Estate [6 Month Follow-Up]
Hopefully this relationship will continue to build, but playing a key role on the team, I plan to start interviewing additional companies now, identifying that backup option just in case. ____________________________________________________________ Our Pensacola Real Estate investing is focused on buying & holding (B&H) properties for short-term cash flow and long-term wealth building. While the team … Continue reading Successful REI Takes A Team: Our Roster
I received the email no landlord wants to receive. "It's the 11th of the month, Unit A hasn't paid rent yet. Do you want us to start the eviction process?" ____________________________________________________________ Being my first eviction and at times a hard ass, my initial reaction was, rent is due on the 5th, it's the 11th, why … Continue reading My First Eviction Turned Into Greater Cash Flow
Because we focus on buy & hold rental properties in Pensacola, Cash Flow is the most important metric we look at when considering an acquisition. _____________________________________________________________ Caution: This post goes technical real quick and my geeky side does come out 🙂 Most people, even some experienced Realtors, think cash flow is the gross revenue generated … Continue reading Real Estate Investing Terms: Cash Flow [example]
As I continue to talk with more & more people about our buy & hold real estate investing in Pensacola, I find myself running into a similar question: How do you know how to do this? How do you know how to successfully invest in buy & hold real estate? Fair question. I have spent … Continue reading How Do You Know How To Invest in Real Estate?