I have to laugh sometimes about this business. For the last eight years, its been a roller coaster of feast or famine. The deals are either so plentiful dropping like bikini tops at spring break, or their so few they seem like a skinny chick at a Jenny Craig meeting. Its a wave, people. And right now, we’re in the dessert waiting for a drop of water.
But guess what? There are people out there EVERY day buying deals. Did ya hear me? The deals are out there. Watch my two minute video below where to find out who’s getting all the deals!
Wanna be like the Donald? Buy yourself a couple mansions, a bunch of buildings, a trophy wife or two….oh wait, you don’t have the money for that? Well here’s how you get the money! Marketing, marketing, marketing! Its all about “the brand” people. From Coke, to Apple, to Trump, to yes, even Dr Dre (love those headphones) – you gotta have a brand. Did you know that creepy “Skeletor” of a thing, Bethenny Frankel sold her little brand for $50MIL. It wasn’t just a Cosmo mix, it was a Skinny Girl Cosmo Mix. Holy crap – if that ain’t marketing, I don’t know what is.
Here’s your 5 CRITICAL steps for marketing success:
I loved this report on CNBC last week. Now, if you think I’m going to go with the conventional wisdom of the Oracle of Omaha, or the Real Estate Goddess, you’re dead wrong. If you read the MSN article below featuring Vena, you come away thinking that all humans are cut out to be landlords. If you listen closely to Warren Buffet, he says (paraphrasing), “I’d buy up a couple hundred thousand houses if it were practical to do so”
Its true, rates are low and houses seem cheap but, landlording is friggin’ tough! Especially in towns like Baltimore where landlords are hated. And managing rentals just might be one of the worst jobs in all the job-universe. Tenants & Toilets is not for everyone. Period!
So, tread lightly my friends. Internalize this right now: You can not make a living owning 20 rentals with leverage. If you have to pay the bank, the property manager and save dollars for the inevitable vacancy or leaky roof, there ain’t a whole lot left over for you. If however you could own all 20 of the same properties with no bank financing, now – you are truly makin’ bacon. Go ahead, let it sink in. It ain’t glamorous, but I’ll be damned if it’s not the truth.
Ask yourself this…faced with a 3-month vacancy, would you sleep better at night if you owed the bank this month’s mortgage on the rental, or if you owed yourself this month’s mortgage on the rental? This country is littered with the carcasses of dead investors who thought they would strike it rich as landlords making $300/mo cashflow.
So Vena Jones-Cox, I respectfully disagree.
Read MSNBC’s article with Vena: “Investors Buying Homes by the Dozen.”
Watch the interview with Warren Buffett “Warren Buffett Wants Houses”
I’ve never been a huge fan of Tony Robbins, but I’m starting to come around. The guy is inspiring and usually delivers some pretty powerful messages. I know my site caters mainly to real estate investors – so this may seem a little off topic. I also know however that most of you are husbands or wives, or in relationships. I came across the link below in a recent Facebook post, and I thought – what the heck, I’ll have a look. Little did I know that I would be absolutely riveted 60-minutes later.
Yes – this is a long video. But if you’ve ever wondered why your life is just OK, why you seem to be in constant strife, why your relationship with your spouse is always on edge, or especially why you seem to endlessly hang-on to “baggage” – than I URGE you to take an hour of your life to sit back and watch this immensely powerful Tony Robbins video.
Click the above picture and you’ll be taken to the site with the video. Remember – its over an hour long.
Are you searching for one of the most elusive answers to life’s most perplexing questions? That is, “How can I live a prosperous life?” That is a loaded question indeed, eh? If you’re wondering like most American’s, why you make more money but never seem to have any, why you work hard but never seem to get ahead, and why you strive for simpler – but things just seem to get more hectic… – then listen up! This very important article is for you.
My good friend and most respected mentor; Steve Cook has written one of his most compelling essays yet. If any of the questions above ring true with you, you MUST read, “Prosperity Through Simplicity”
After reading the following, written by Steve,
…I was a slave and I willingly gave away my life, my future. I was consumed with thinking of ways to make money in hopes that one day I could make more,
I almost choked on my coffee. What do those words mean to you? If they ring true, I implore you to read the article.
Let me HEAR YOUR THOUGHTS! I really want to hear your comments!
<—– SEXY PEOPLE PROSPER BY SHARING. Please CLICK the FB BUTTON or SHARE via Twitter.
The following can not be considered whining, but rather a HUGE warning to those of you who are doing rehabs, or even to those who aspire to do rehabs. In a word folks, Flippers are hated. As proof, go to this link after reading this story and check out the PURE vitriol being spewed at lil’ ole’ me following a very kind and lighthearted story by NPR featuring your’s truly; Craig Fuhr. Talk about H’atorade!
But I digress.
This week’s Video Flip Tip is all about covering your ass. It’s getting tougher and tougher to sell a house following a flip. With each sale, I feel like I need to bend over and simply wait for the full proctological exam to commence. Its almost routine now that lenders, and even title companies are requesting a litany of information regarding every aspect of the deal. I mean, they’re demanding everything. If you choose not to give them what they want, they’re not doing the deal.
In this week’s video flip tip, I’m laying out EXACTLY what you need to do to protect yourself, and what you need to do to successfully and painlessly make it through the “digital exam.” If you like what you see, please comment below and share via Facebook or Twitter.
Remember….Super Sexy People Share. So click that FB button!
Click The Check Box for a Free Copy of My
“Cover Your Ass” Checklist!
The deals are coming fast and furious now. There are deals-a-plenty out there folks, so get off the fence, find a rehab to flip, get some good education, work your numbers, and invest in real estate. There will NEVER be a better time.
This is a story about my coaching student; Russell Sanders. Russell is a full-time employee of the federal government. He was tired of losing money doing RE deals, then he decided to join forces with me. Russ found this deal on the MLS – and we think it will be a doosey.
This house in Capital Heights, MD was vacant and bank-owned. The numbers are as follows:
Honestly, when I first saw this house, I thought – “heavy cosmetic.” I mean it really was not that bad – but it needed expensive items, like new windows, 2 new baths, a new kitchen, new doors, a new front entrance, new carpet, some new plumbing and updated electric. But seriously, its an easy rehab. I mean, easy in the sense that we won’t be gutting the place all the way back to the studs – which is refreshing for a change.
We’re about 3 weeks into the rehab and we’re seeing some serious progress. I have some great video (but I’m biased) of the progress we’ve made thus far. Man, I’m starting to love this technology stuff!
The basement here at Gunther is below grade, of course. While adding the new full-bath, I noticed a big old pipe next to the drain for the toilet, and was wondering what the heck it was. I got a lesson on plumbing that I thought I’d share with you. If you don’t like poop floating in your pretty finished basement you must see this extra-special REI video tip. In the second 1/2 of the video, I talk about how to properly remove a column in the basement. Check out what I learned!