As a Real Estate Investor... Can You Evict a Tenant in December? - 08/30/09 11:44 PM
I can't tell you how many times I have spoken with new real estate investor who wants to know what it takes to purchase a rental property.
My response is now almost pure reflex.
Instead of starting a discussion on how to find great properties, or evaluate them for their cash flow potential, I ask this real estate investor if they'd be able to evict a non-paying tenant in the middle of December... and then I stand back and watch their reaction.
I can tell in the first 2 seconds whether they are going to make it as a landlord. 
If they … (2 comments)

Incompetence... It seems to be everywhere... how Real Estate Investors can deal with it! - 08/29/09 04:06 PM
In early 2007 I wrote a couple of articles that dealt with finding good lenders who understood what we do, the risks and how they are managed and rewards for executing per our plans.  In these articles I discussed how important good... no "great" lending relationships are to the life of every real estate investors business.
Well, it is as true now as it was then.
Without "great" lending relationships obtaining the capital to grow our business is next to impossible.
So, where does the incompetence part come in?  From an experience I am going through at this very moment and it centers … (2 comments)

Contrarian Real Estate Investors... - 08/23/09 08:07 PM
For the most part I have considered myself a savvy and yet contrarian real estate investor. Not unlike those "professionial" investors in the financial world who are selling when others are buying and buying when others are selling.
Historically, I have mostly invested in areas where most real estate investors were not investing... at least not in droves. And the one time I did invest where many real estate investors, mostly speculators, were investing... my business took a $100K bath.
LESSON LEARNED... Stick to my CRITERIA!
Getting back to this contrarian point of view... Over time I came to realize that this … (1 comments)

Black Flies... and the Art of Success as a Real Estate Investor - 08/19/09 11:02 PM
Pete... She yells... these buggers are drawing blood!  My only comment was "keep moving and they aren't so bad."
Just minutes before I found myself standing in front of a huge pile of leaves, sweating and being totally engulfed by the scourge of an early Maine summer.  Black Flies... everywhere... and as Vicky (my wife) indicated they draw blood!
I had not noticed them while I was working as I was constantly moving... working to get the yard raked (my immediate goal) of the previous years leaves.  Once I stopped... all bets were off however.
So... as a real estate investor what's … (0 comments)

As a Real Estate Investor... Are You a Gazelle or a Lion? - 08/12/09 08:35 AM
It seems that, everywhere you turn lately, the news of our economy only gets gloomier and gloomier.
While I attribute much of this "sensationalism" on the media desperately trying to make a buck by out-doing one another with "I have the BEST worst news", there is a strong underlying truth that can't be denied... we are in some challenging economic times.
As real estate investors it can sometimes be difficult to stay focused, to go out into our market and do battle with renters, buyers, lenders, contractors, politicians and a whole host of others keen on advancing their agenda at the expense … (1 comments)

No Excuses... - 08/10/09 06:48 PM
I have the extremely good fortune of receiving a variety of newsletters and other information I consider critical to both my personal and business development.  Many times the information that is provided in these newsletters only confirms those things that I have already learned, sometimes the hard way.  But in almost every newletter or online E-Zine that I receive there are a number of things that totally reinforce things I must be doing to ensure my success... and I would like to share one of those with you in the blog post.
In a recent E-Zine the discussion centered on excuses.  … (2 comments)

Newbie Real Estate Investors... and What To Do With Them... - 08/08/09 09:55 PM
As a real estate agent I am sure that you have experienced more then your share of real estate investors who just heard some real estate "guru" promise that you can become a millionaire, quit your job, purchase boats and airplanes, be surrounded by beautiful people... all in just days, weeks, months.  Just add water, and there you have it an instant real estate millionaire.  NOT!
For most real estate agents, they head for the hills when these newbie real estate investors walk in the door.  And you know why!  First you will have to listen to how this real estate investor … (2 comments)

The Real Estate Investors Mantra... - 08/04/09 11:52 PM
In one of my previous posts I spoke briefly about what I believe is the mantra for all successful real estate investors.
Simply put... this mantra "You Profit When You Buy" says a lot about what a real estate investor is thinking when they ask you, their real estate agent, to make what seems like stupidly low offers.   
For many real estate investors and almost all real estate agents, this concept of "profiting when you buy" seems out of reach on almost every deal... with real estate investors that just don't seem to understand what it takes to purchase "right" and "profitably'... and … (0 comments)

Who Moved My Cheese? - 08/02/09 09:05 PM
I am sure many of you have read the book in the title written by Spencer Johnson.  If you haven't I would highly recommend it.  The premise as provided by Amazon is this...
"Change can be a blessing or a curse, depending on your perspective. The message of Who Moved My Cheese? is that all can come to see it as a blessing, if they understand the nature of cheese and the role it plays in their lives. Who Moved My Cheese?is a parable that takes place in a maze. Four beings live in that maze: Sniff and Scurry are mice--nonanalytical and nonjudgmental, they … (4 comments)

Are Your "Associations" Killing Your Chances for Success? - 08/01/09 12:37 AM
As I was growing up I had an uncle who would always say...
"Peter... if you want to know who a person really is... just watch who they hang around with."
And he was right... those who were struggling always seemed to be surrounded by others who were struggling and those who enjoyed success always seemed to associate with other successful people.
During my seminars I will ask participating real estate investors to write down the names of the 6 people they associate with the most.  I ask them this to get them thinking about where and from whom they … (5 comments)

 

Peter Giardini

Baltimore, MD

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