To a big extent, good property management boils down to a series of good decisions. Well laid out procedures and policies are the basis of good decisions. Your lease agreement should have those policies all laid out in very plain, explicit language. When you do a lease with your tenant, you need to hit on all [...]
Continue reading...26. November 2008
Last Saturday we had an excellent session of Wealth School. Many of the participants shared the break throughs they had experienced since beginning the course in August. We reviewed the repair estimating exercise for the REO properties we looked at during the prior session. Some of the important lessons were as follows: You must balance the money [...]
Continue reading...23. November 2008
One of our Wealth School participants told me that she had some money in her IRA that she would like to use for her real estate investing so that she could use some of the cash flow now. In his article "Self-Directed IRA Investing: Invest to Protect Your Retirement" , IFAZ blogger points out that self [...]
Continue reading...19. November 2008
Do you ever see overgrown properties with, perhaps, boarded up windows? Have you ever thought that there might just be a incredible bargain to be had with a property like this? I have bought some great deals this way. Recently a student of wealth school asked about how to track down the owner of house overgrown [...]
Continue reading...17. November 2008
When you invest in cash flow properties, the name of the game is passive income. The money you make without working. The money that comes in as a result of the business system you have created. Passive income is thing of beauty. You know, I can make more cash flipping properties. But the income from flipping houses is [...]
Continue reading...13. November 2008
During the last Wealth School session, one of the issues that came up was the challenge of getting a pre-approval letter to submit along with offers on bank-owned properties. Now, it’s best if you have cash, and can show bank statement as proof of funds. But what if you aren’t in that position? The point we [...]
Continue reading...12. November 2008
One of my goals is to buy a certain number of properties each month. The total number is important, what’s important is that I have the goal, and take the actions that support that goal. But however you slice it, I won’t buy any house in which I’ve not made an offer. The bottom line is [...]
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29. November 2008
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