tuesdays tip: Tuesday's Tip #58: The Cash Tree - 05/13/08 09:15 PM
Values tumbled in the first quarter of 2008. The median price for a single family home dropped 7.7%. That's the largest drop in 29 years, according to Kathleen M. Howley of Bloomberg.com. If you have a $150k house, there's a good chance you just lost about $11k of equity in your … (3 comments)
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tuesdays tip: Tuesday’s Tip #48: Keep Good Tenants - 03/04/08 08:02 PM
I’ve been working closely with my property manager over the past several months. He’s been helping numerous investors across the country to turn their properties around and straighten out their cash flow.
Why? Cash flow investors have been screwed by property managers in Indianapolis for years now. Rents have not been … (1 comments)
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tuesdays tip: Tuesday’s Tip #47: Be Resourceful - 02/26/08 02:52 PM
If you’ve ever been in the rental business, you know how expensive it can be to rehab a property after a tenant moves out. You try to fix things well and put in nice things and tenants destroy them. You put in something cheap and end up replacing it four times … (2 comments)
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tuesdays tip: Tuesday's Tip #46: Invest with Courage - 02/19/08 03:26 PM
It seems as if there isn’t a day that passes where you can read about more bad news on the economic front. Banks are writing down more debt, oil prices are jumping on the news of a falling dollar, and some even believe we're headed for a total meltdown. It's a … (1 comments)
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tuesdays tip: Tuesday’s Tip #41: Reserve Funds - 11/14/07 12:13 PM
Sorry for the delay in sharing Tuesday’s tip until today. As they say, “It’s better late than never.”
As we’ve been saying for quite a while now, it’s that time of year when properties are more fun to purchase. Given the changes in weather and lack of desire for most buyers … (0 comments)
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tuesdays tip: Tuesday’s Tip #40: Investor Financing Options - 11/06/07 09:22 PM
The bad news is endless these days. The economy is rough, lenders are suffering, the US dollar is fading, and foreclosures are abounding. Pick up a paper, turn on the news, or read online and you're bound to find it. The reality is frustrating, but it's still reality.
The good news … (0 comments)
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tuesdays tip: Tuesday’s Tip #39: Think a Little - 10/30/07 10:22 PM
I had a great talk with a successful investor today. He’s the kind of guy everyone respects, because he’s a hustler. His work ethic is never in question and his investments are returning as desired. He’s invested right, and it has paid off for him.
What’s funny though is that, at first … (5 comments)
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tuesdays tip: Tuesday’s Tip #38: Set Your Property Apart - 10/23/07 09:46 PM
What makes Apple customers go back to them over and over again? Is it the genius bar? Is it the user-friendly systems? Is it how trendy it all is? All of the above?
What about BD’s Mongolian BBQ? Is it the shirts that say “We do it on a grill.”? Is … (1 comments)
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tuesdays tip: Tuesday's Tip #37: Timing & Planning - 10/17/07 09:32 PM
You know things are crazy when you can’t spare 30 minutes to write Tuesday’s Tip on time…sorry about Tuesday’s Tip coming out on a Wednesday.
Speaking of timing, we’re headed into a special time of year for investors. While most investors are enjoying the holidays and spending like crazy, this has become … (0 comments)
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tuesdays tip: Tuesday’s Tip #36: Create a Filter - 10/09/07 09:22 PM
As an investor, birddog, home-owner, or realtor, you probably look through a lot of properties in the midst of your property search. If you’re anything like me, you may even be looking at hundreds of them daily. So, with that many properties and numbers coming across your desk, what separates the … (0 comments)
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tuesdays tip: Tuesday’s Tip #35: Property Insurance - 10/02/07 10:28 PM
Insurance is one of those things investors don’t seem to think about very much. It’s easy to let an insurance agent set everything for you on your properties and to miss out on gaining the necessary knowledge in the meantime. That can be a big mistake.
Most of us have heard stories … (2 comments)
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tuesdays tip: Tuesday's Tip #34: Win-Win Real Estate Investing - 09/25/07 11:17 PM
I've recently been doing some work with an investor who has negotiated tons of short sales over the years and who works with home-owners in pre-foreclosure. Having done some of the negotiations myself, I know how challenging they can be and so, I have a pretty deep respect for someone who … (4 comments)
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tuesdays tip: Tuesday’s Tip #32: Creative Thinking - 09/18/07 09:30 PM
While I’ve never read the book, I was sent a great little excerpt from Michael Michalko’s book, Thinkertoys: A Handbook of Creative-Thinking Techniques. I thought this was a more appropriate time than ever to share this, given the nature of the current real estate market.
We have more struggling sellers, harder … (1 comments)
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tuesdays tip: Tuesday’s Tip #32: Emotional Buying is for the Birds - 09/11/07 11:14 AM
It’s easy as a new investor to get excited and let your emotions dictate your decisions. I spend a lot of time trying to get investors focused on the details and then the big picture, but end up spending a lot of that time on calming them down before they make … (0 comments)
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tuesdays tip: Tuesday’s Tip #31: Get Organized - 09/04/07 10:58 PM
As an investor, it’s absolutely essential that you prepare for the different scenarios that will come your way as you are looking at investment properties and investing for your future. As a real estate investor, getting rehab estimates, good market comparables, running and analyzing numbers, and getting the team in place … (0 comments)
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tuesdays tip: Tuesday's Tip #30 - 08/28/07 03:26 PM
One simple question can change everything. It’s a question that many young, would-be entrepreneurs ask as they’re dreaming of building their own business. It’s also the same one that their skeptics, who are living the “safe life”, are asking. Real estate investors, mothers, attorneys, children, pilots, and everyone else in between … (1 comments)
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tuesdays tip: Tuesday's Tip #28 - 08/14/07 07:43 PM
Today, I spent some time talking with a new investor about getting started in investment real estate. He asked for some ideas on where and how to start. Of the numerous questions I asked as we talked, the discussion revolved around two questions:
How much money, in cash or credit lines, … (0 comments)
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tuesdays tip: Tuesday's Tip #27 - 08/07/07 09:57 PM
As a birddog and a realtor, I spend an incredible amount of time on the phone with sellers of investment real estate here in Indianapolis. I sort through so much garbage in a day’s time, it is unreal. As I’ve said repeatedly, everyone’s got an “investment property for sale”, but no … (2 comments)
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tuesdays tip: Tuesday's Tip #26 - 07/31/07 12:12 PM
Join RepealPropertyTaxes.com and Advance America in repealing property taxes here in Indiana. While taxes are significantly cheaper here in Indiana than they are in most areas of the country, they’ve still gone up over 450% in the past 26 years and it’s time for a permanent change.
Indianapolis has maintained … (2 comments)
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tuesdays tip: Tuesday's Tip #24 - 07/17/07 11:24 PM
It’s not very often that I come across an investor who has poor credit these days. The majority of the investors I pre-qualify are sitting nicely with credit scores in the 700s. While it isn’t absolutely necessary for your credit to be this high, it definitely helps quite a bit. This … (3 comments)
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tuesdays tip: Tuesday's Tip #23 - 07/10/07 05:13 PM
FAQ’s
Q: When investing in real estate, what makes for a good investment?
A: It has to make money.
Q: How do you make money in investment real estate?
A: Through long term cash flow, quick flips, rehabbing, etc.
Q: How do you avoid losing money in investment real estate and … (3 comments)
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tuesdays tip: Tuesday's Tip #20 - 06/19/07 10:33 PM
How many properties would be too many properties for you? That depends on who you are, what you know, the resources you have, and the people on your team.After a great conversation with one of our newest investors last week, I realized how much more important it was to help protect … (4 comments)
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tuesdays tip: Tuesday's Tip #18 - 06/05/07 04:12 PM
Found on the NAHB website.As someone who likes to run numbers and find deals, I’m always interested to see what kinds of numbers work in other areas of the country. The diagram above shows the tax rates per $1,000 of value in the US from 2005. The more I looked, the … (0 comments)
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tuesdays tip: Tuesday's Tip #13 - 05/01/07 10:17 AM
Market comparables are subjective. Don’t believe me? Find a bank owned property in a nearby state and call five different realtors or appraisers in the area to ask them what they think the property is worth. Tell them you’re from out of town and trying to figure out what it would … (0 comments)
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tuesdays tip: Tuesdays Tip #4 - 02/27/07 06:15 AM
Stay the heck out of Sacramento, California. Wow.
I thought we were in bad shape here in Indianapolis when our foreclosure rates placed us #1 in the country, but even then we weren’t experiencing anything like that of what the poor home owners of Sacramento are suffering right now. Their home prices were … (7 comments)
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tuesdays tip: Tuesdays Tip #3 - 02/20/07 08:05 AM
Imagine with me.
You’ve just purchased your first investment property. You ran the numbers until you could no longer feel anything from the finger you were using to push the keys on the calculator. It felt monotonous, but you felt good that you had done your homework.
You finished the rehab and the … (3 comments)
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