People leave a voice mail; we call them back the next business day. In my experience, there simply haven’t been any emergencies. There’s also a tendency in real estate to do everything yourself. I suggest you confine your activities to acquiring property, finding deals and putting them together, because that’s where you make your money. (more…)
Letting Your Business Get Out of Your Control and Run You (2)
Posted by at October 17, 2012Letting Your Business Get Out of Your Control and Run You
Posted by at October 13, 2012
Bookkeeping, making phone calls, and dealing with tenants and potential buyers can keep you busy and stressed out. Remember, most investors get into real estate for one big reason—freedom. The rewards can be awesome, the wealth incredible, the vacations glorious. (more…)
Being Unclear Whether You Want to Sell or Rent a Property
Posted by at October 9, 2012
Owning rental property can be the best wealth builder around, but you need to decide whether you want to sell it and make the big cash, or rent it and build wealth slowly. If you want to sell, sell it; if you want to rent, rent it. (more…)
Being Frightened to Do Large Deals (3)
Posted by at October 5, 2012
About two weeks after this entrepreneur died, Bill called his widow and said, “I’m Bill. I knew your late husband. I know your son. I’m very sorry to hear about what happened. I know you have some real estate—would you like to get rid of it?” (more…)
Being Frightened to Do Large Deals (2)
Posted by at October 1, 2012
He’s been divorced seven times and his fifth wife didn’t sign the release form, so I have to chase her down to close the deal. In contrast, a commercial buyer asks for the numbers, goes to closing in 45 days, and has the bank wire the money immediately. (more…)
Being Frightened to Do Large Deals
Posted by at September 27, 2012
Suppose I’ve got a building for sale that’s worth $5 million, and you can buy it from me for $3 million. Would you put a contract on it? Does it feel too big for you? But think about it: What’s the difference between a $500,000 deal and a $5,000,000 deal? (more…)