FC2Video

Have you been deluged by requests from people that you don't know and that have no experience begging for private money? I swear that these people must be on crack or something stronger.

Every property has one - the one offer or deal that you can bank on to get your phone ringing when you have a vacancy. What's yours?

I love cap rates - they're a great way to screen multi-family buildings when you're trying to narrow down your list. They're also good for using as a frame of reference. For example, I talked to an apartment buyer in Southern California last week and told him we’re looking at cap rates in the 9-11% range here, while they’re in the 4-5% range there. But where they aren’t useful at all is in the actual purchase decision – because the cap rate does not take financing into consideration. And in this credit market, where there are few options and even less flexibility, financing terms and conditions are critical.

Who are you meeting with on a regular basis to bounce your ideas and strategies off of? Will they tell you that you're full of crap if you are?

How do you make a small fortune in real estate? Start with a large one and invest in Flint!

As much as I HATE confrontation, :)) I caused a ruckus in one of the landlord forums that I participate in when I got tired of all the complaining from people that bought rental houses in Flint and then complained about Flint being Flint.

This is a cash management tool that we've been using in our business for years.

Just about every investor that I know that's in rental properties has one. They are a royal PAIN and it would have been really nice (and more PROFITABLE) to have made a different decision. You can avoid doing it. Very easily actually. And if you knew what I know now, you'd realize that you can't afford not to.

Started a new job with my company today after being asked to "take one for the team". You can't be the master of your own destiny when you accept a paycheck from someone else.