What Are You Full Of?

Posted by on 1:09 pm in Real Estate Investing | 3 comments

            Every real estate investor, entrepreneur, business owner – in fact, every person – is full of something. What you are full of determines what you cannot contain. For example, if you are full of enthusiasm and gratitude, you can’t be full of entitlement and cynicism.             As you are developing your real estate investing playbook, ask yourself this question: What am I full of? The answer will determine what type of deals, if any, you will be doing. If you’re full of a sense of entitlement and have bought into the myth that...

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Black Swans

Posted by on 2:56 pm in Real Estate Investing | 0 comments

            The economic crisis in 2007 through 2009 that was spawned by the housing market collapse has been referred to as a “black swan” event, an occurrence that deviates beyond what is normally expected of a situation and is extremely difficult to predict. Every real estate investor must have a black swan emergency procedures manual as part of his or her playbook.             One of my friends who owns and operates a very successful business in Houston, Texas had their business tested to the limit. Their emergency business continuity...

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Remember the Main Goal

Posted by on 4:52 pm in Real Estate Investing | 3 comments

            I was talking with a friend and fellow investor from another state who was asking some pretty detailed questions regarding entity reorganization. As we worked through the questions and the situation, I had to remind this investor what the main goal of her entity was, which is also the main goal of real estate investing: acquiring assets that generate cash flow and/or grow in value. When you are assembling your playbook as a real estate investor, please remember that the main goal of being a real estate investor is acquiring...

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Seek Simplicity

Posted by on 6:31 pm in Real Estate Investing | 0 comments

            Throughout the remainder of 2017, I want to devote several posts to a common theme: building a playbook that real estate investors can rely on as a consistent resource. To begin, I want to talk about an overarching principle I see based on my vast experience working with real estate investors across America. Seek simplicity!             Whether you’re just getting started in real estate investing, designing a marketing campaign, structuring a deal, or putting together the terms of a contract, whenever possible, seek simplicity....

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Big Enough to Know Better, Small Enough to Matter

Posted by on 5:36 pm in Real Estate Investing | 0 comments

            In my previous post, I discussed important information directly applicable both to people suffering from Hurricane Harvey and anyone else who has a significant property damage claim to file with their insurance carrier. I said that in my next post, I would focus on other potential insureds besides the fee simple owners of their primary residence. Those other two categories are lienholders (private lenders who have money secured by collateral that has now been damaged by a major event), and landlords and rehabbers.             If...

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Disaster Recovery

Posted by on 6:36 pm in Real Estate Investing | 3 comments

            As I write this email, the disaster in Texas due to hurricane Harvey continues to unfold. It is causing major devastation, the impact of which will be felt for years to come. I recently spoke to a client of mine who has over 30 years of experience in the property and casualty adjusting arena. He shared with me some important initial steps that homeowners in any sort of disaster should immediately enact.             Once there is damage to your property, you need to file a claim with your homeowner’s insurance carrier immediately....

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Seldom-Practiced Success Principle

Posted by on 6:55 pm in Uncategorized | 17 comments

            A few months ago, while having lunch in Tampa, Florida with a client and friend, we were talking about fundamental principles in our businesses. My friend shared with me how he had been working with some new real estate investors and helping them overcome some challenges they had experienced after having some good initial success in their business.             After spending a significant amount of time redesigning their marketing campaigns and many other aspects of their business, he casually mentioned, “By the way, are you guys...

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A New Search Technique

Posted by on 2:41 pm in Real Estate Investing | 3 comments

            Just as necessity is the mother of invention, experience is a great teacher of new tactics, particularly unpleasant experiences. Two recent situations compelled me to do online research with the office of the Secretary of State in two different states. I found that one of the more effective tools to narrow things down and better identify a problem was to search the names of the organizers and the statutory agents for the entities rather than only searching the name of the entity itself.             While searching on the Texas...

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Happy to Announce a Victory for Landlords

Posted by on 5:01 pm in Real Estate Investing | 1 comment

On Monday, August 7, 2017, the 11th District Court of Appeals in the State of Ohio unanimously issued a written decision wherein they reversed the earlier decisions affirming the finding by the Ohio Civil Rights Commission that a landlord named Helen Grybosky had committed housing discrimination. This case has gone on for nine years. Briefly summarized, an administrative law judge working for the Ohio Civil Rights Commission found that Helen Grybosky and her son Gary had discriminated regarding households with children and people with...

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If You Love Someone, Read This

Posted by on 6:08 pm in Uncategorized | 3 comments

            Last week was awkward. It was the first of several meetings with a lady who had suddenly lost her husband, and she’s looking for help and guidance. The harsh reality is that he died with no life insurance coverage in place.             That same week I had a meeting with another lady who had also lost her husband but was fortunate enough to have been the beneficiary of a large life insurance policy. Even in her case, that policy was scheduled to lapse less than 30 days from when her husband suddenly died.             I’ve seen it...

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