It’s been a while since I posted something to this topic. July I think. Mostly because I’ve found that when dealing with adults in commercial real estate the deal process is about as exciting as watching paint dry. And I hate painting. So let me bring you up to speed. We last left this thread with my last deal dead and me starting the lawsuit process for the return of my earnest money deposit. Well…
I Fought the Law – And – I Won
I just received three tickets in the mail. THREE! From the City of Harper Woods. It seems that the fine people in their Building Department believed that I was on the wrong side of the law when I bought two properties in their fine city earlier this year. And then again when I rented one of them a couple of weeks later. Three stinking tickets. And not the kind you can simply pay to make…
Off Topic Friday: Is it the Haves and Have-Nots, or the Will and Will-Nots?
I saw an interesting discussion on twitter last evening. As you might expect, there has been some serious discussion about the economy and the stock market (which are two DIFFERENT things BTW). As you may know, twitter is heavily populated by “Web 2.0” types that know far more about social media and the internet that I do (or maybe than I ever will). They’re in lots of different fields, and many are actually (gasp!) using…
Cash Flow ROCKS!
If you’re at all a regular reader of this space, you know that I’m a hawk for cash flow. Regular, boring, methodical cash flow. Not only that, but I have been boldly proclaiming far and wide now for over a year that southeastern Michigan is THE best investment real estate market in the country for buy-and-hold cash flow investors. And it continues to get BETTER. The real estate market here is still in absolute gridlock.…
Off-Topic Friday: Collateral Damage – Baby Boomers Forced to Delay Retirement
The Wall Street Journal this week highlighted a problem that’s only getting worse as the financial sector melts down. Baby Boomers Delay Retirement Declines in Assets Force a Generation to Face New Reality By KELLY GREENE Nancy Davis, a 59-year-old senior marketing manager for a law firm in San Diego, had hoped to ease into her retirement after her son finishes college in two years. But “I may be 70 before I retire at this…
Part II of Finding the Perfect Deadbeat
Yesterday I started a discussion on how finding, screening, and selecting tenants is Critical Success Factor #2 for being successful at owning rental properties. And I began to discuss the four steps that need to be taken to screen and select successfully. I talked about step 1 yesterday. That was Set expectations up front. I’ll finish up with the rest of the steps today. 2. Do not advertise your unit for rent too early. You heard that right. You can advertise…