Month: August 2022
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Back of the napkin underwriting, the 50 percent rule.
It goes like this. “Yeah we were having lunch and we were just talking about some ideas and started writing them out on the back of a napkin. And now we have this multi-million dollar company, brand, or product.” All you need to know is what is the rent roll for a given property. If […]
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Why your decision making is keeping you stuck
Several years ago, I read the best book I have ever read on human decision making and the two type of decisions we make. One of the decision making types really doesn’t do much for you other than it helps you get through your day. The other type of decision is one that actually moves […]
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The criteria I used to create a million dollar portfolio with single family homes
As a new real estate investor a lot of questions may be running through your head. How do I know which property to invest in? What should I be looking at with each of the properties? And the list can go on and on. To help you get out of your own head and get […]
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Lessons learned from being a landlord…Going cheap cost you more
One of the goofiest lessons I learned and I say goofiest, because it never crossed my mind in a million years that this would happen. I had this tenant named Donna. Donna was a tenant for about three years. She was on section eight (government assistance). She had already gotten another apartment approved for her […]
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Lessons learned from being a landlord: My tenant died…now what?
At 26, I bought my first income producing rental property. It was a duplex about a mile or so from where I lived. When I purchased the property, I inherited tenants that had leases in place already. And as I have shared many times, outside of just buying the duplex I hadn’t thought much deeper […]
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Is the 1% rule still applicable in this market?
At 26, when I bought my first income producing rental property I wished I had known a few basic principles to investing in real estate. The only thing I knew was that everyone I had known growing up that owned real estate, which wasn’t anyone in my family, was rich to me. This was the […]
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It isn’t procrastination and it can be deadly unless you fix it now.
We have all had that moment in life when we get really excited about something, maybe it is dieting, getting out of debt, planning our day more effectively, redoing the kitchen, painting the bedroom, investing, etc. You name it. At that moment we get excited about doing the “thing”, but we don’t take any […]
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4 Ways Income Producing Real Estate makes you money
Are you still on the fence about investing your hard earned dollars in to income producing real estate? You can keep sending your money to Wall Street and be subjected to the highs and lows of your money constantly going up and down, and in many cases invested in to something you don’t know anything […]
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The one calculation that changed my life that I never learned in school
Like most of you I served my twelve years in K-12. Additionally, I spent another two years earning an associate’s degree in electronics and engineering. Then I moved on an achieved a bachelor’s and master’s degree in business. So I have spent a lot of time in the education system. In all of those hours […]
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What would an extra thousand dollar’s a month do for you?
My mentor asked me this question over a decade ago. What would you be able to do with an extra $1000 dollars a month? At the time, I thought, I could pay off my student loans quicker, my car note quicker, I could increase my savings rate. The question was a powerful one, because up […]