On being a landlord

Colin Firth
In no way am I suggesting Colin Firth is a sluggard of a tenant. I merely use his picture to illustrate 1) an actor and 2) the truth that the world can never have too much Colin Firth.

An actor, behind in his rent and  trying to stave off the insistent landlord said, “In a few years, people will point to this apartment and say ‘Jones the famous actor, once lived there.'”

“If I don’t get my rent tonight,” said the landlord, “they’ll be able to say it tomorrow.”

For the investor, having and holding rental property can be a great source of passive income if done correctly, or a huge headache if not. Ideally, according to property management gurus, a rental should generate at least $50 per unit above and beyond all expenses. Expenses include obviously the mortgage (principal and interest), PMI, insurance, property taxes as well as scheduled maintenance (hopefully to avoid unscheduled maintenance). Continue reading “On being a landlord”

Tidbit update

Three nuns are driving down the road when all of a sudden a vampire jumps out in front of the car and blocks their way.  The driver yells to the sister in the passenger seat, “Quick!  Show him your cross!”

The sister rolls down her window and yells, “Get out of the way, you bloody toothy git!” Continue reading “Tidbit update”

So freaking excited!

John DessauerJohn Dessauer, one of the premier teachers of multi-unit investing, has agreed to come do a Seattle event for me!

What’s the catch?  He is offering a coaching and mentoring package and if 15 people are interested, he will kick it off with a weekend in the wet.  His words actually were, “Seattle will be sleepless no more. :)”

Why John?  He’s a syndicated radio personality, author, has taught nationwide for many years and has a real estate portfolio to back up everything he says.   John is the creator of the “Divide and Conquer” system, which you have to see to believe!

He’s also a man who is in tune with current events and when he talks about investing, it’s feet on the ground NOW type of information, not just a system someone invented 6 years ago which *should* still work.

Interested?  Click here  for his coaching and mentoring, which is at a fraction of what you might pay to get into some other Titanium Level package.  You must follow that link, because that’s how we’re tracking Seattle’s interest.

Feel free to forward this post to any out of state investors you know.  We’ll be arranging meeting rooms in a hotel for their convenience.

Doing investing, Egyptian style

Treading some thin water here, so read between the lines.

Money doesn't grow on trees, but under certain conditions, floats upwards
Image: Gator.com

This is not a posting about the unsettling in the Middle East, although it will ultimately trickle down to both investment and “retail” real estate.  Rather one (or perhaps more) of the investing guru’s you may have heard of or encountered is offering not only real estate knowledge, but the possibility of even more money in the form of nutritional/well being products.  I know this because we have been offered this great opportunity (didn’t take it), have talked with several people who got in at that time, and was reminded again this morning when a young man who is working hard at his business sent me a lovely opportunity note.  I haven’t confirmed with him yet whether it was Company X, but I’m willing to bet that it is.  Company X is running in investor circles. Continue reading “Doing investing, Egyptian style”

Where’s the note?

I have a postcard which I mounted on my wall.  It says One by one, the penguins steal my sanity.  I think that’s pretty self explanatory, don’t you? 

Last week, they stole another piece of sanity pie and I totally enjoyed a class on ALTA title insurance.  Whoa, those are some pretty powerful penguins, I can hear you thinking to yourself.

Actually the class was enjoyable.  I learned things I hadn’t previously known.  That passes the acid test for was it worth my time?

The teacher digressed from the content topic with a recent experience she’d had sitting in a courtroom.  She had listened to an attorney argue for a reconveyance of a loan based on the servicing agency’s default.  They had not provided the documents asked for and no one had responded to the summons for the hearing.  Continue reading “Where’s the note?”

Comps and why you shouldn’t trust the Internet

The air in the room was thick enough to cut with a knife.  The man at the front, the one who held the answers to all questions was about to tell us how to value properties so we could then springboard into buying only the best of them.

He said ….

He said ….

He said …. Continue reading “Comps and why you shouldn’t trust the Internet”