Live & Flip

Mastermind

On Tuesday night I had another great mastermind meeting.  What is mastermind?  A mastermind group is a gathering of like minded folks looking to better themselves. Not to impressive looking in, but its an amazingly powerful tool if used right.  Here's how it works. On a regularly scheduled interval.  Say once a week, you meet up either in person or via phone conference like we do.  The group then goes into a brainstorming, motivational, goal setting, problem solving, life enriching session.  ...

Newsflash Genius, your a Landlord

This month really hasn't gone great as far as my rentals go.  I have one non paying tenant that I will be evicting.  I have the deposit at least, but still chaps my hide I haven't received one payment from them.  The gentleman I talked to last time ended up being thrown in jail himself.  Hard to make money for rent behind bars. On my other property there was a water leak from the water heater in the basement.  It caused a decent amount of water damage.  I take partial blame for this one.  My ...

Networking

As I continue to learn the game of Real Estate,one item keeps cropping up over and over again.  Networking.  I am beginning to believe that is the single most important aspect to do well in this field. Networking is how you find the folks to get started, how you find the members of your team, how you find deals and sell deals. Let me give you a scenario that just happened to me about 30 minutes ago.   I get home and notice that the abandoned property to the north of me has a truck parked o...

Spoke to soon

My last post I mentioned all is going well with the rentals.  Well, I finally ran into my first SNAFU.  To be honest its not a big deal yet, but since its my first major issue (other then repairs) its kinda of a big deal for me. I have not received payment for rent on my 2nd rental.  Since there was a bit of confusion as I transfer responsibility to me from the last owner, I had to be sure rent was not sent to him first.  Rent certainly wasn't sent there.  Little hard to send rent while sitti...

My Big Break II

In an earlier post My Big Break I wrote on how I have now purchased three rental properties.  I apologize for the delay, but I wanted to present this info to the folks at the Beer and Pancake meetup before posting on here.  I know, I know who cares if five people know before hand.  Meh, call me strange. Any who, its a fairly simple processes.  I got in contact with a rehabber in my area.  He is able to purchase properties for as low as 40 cents on the dollar.  He then fixes up the property, ...

Beer and Pancakes

I'm taking a page from Kendric's blog www.livelearninvest.com and taking a moment to talk life.  This last weekend I went to Scottsdale, Arizona on a "Business" trip.  Really its gathering of very motivated business folks from around the nation.  These folks come from a excellent forum called The Fastlane to Millions.  Don't let the name full you.  Its not a get rich quick site, but a group of folks who employ business techniques to provide themselves the ability to live life to the fullest. ...