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Archive for October, 2012

Video

15-Year-Old Landlord Buys Second Rental House

Do you know a teenager that can’t find a job?

Meet 15-year-old Willow Tufano who created her own “shovel-ready” job.  She’s a landlord who just bought her second rental house with her partner/mother.

Thanks to the KCM Blog for passing on this inspiration.

Post

More Evidence of the Housing Recovery

Sherwin Williams Co. stock chartHow do stock market pro’s know the housing market is recovering?  They look at stocks like Sherwin Williams (SHW) because share prices of companies that offer housing-related goods and services are “on a tear.”

According to Jeff Clark who writes the “Market Notes” for Dr. Steve Sjuggerud’s Daily Wealth blog:

“As today’s chart shows, there’s a safer way to bet on the housing boom… Sherwin Williams (SHW) is one of the world’s largest paint and coating producers. The stock is in a “slow and steady” uptrend. Its share price has more than doubled in the last 12 months. And it just reached a new all-time high.”

As the housing market is recovering, some investors are buying real property and some investors are buying housing-related stocks.  It’s all good.

Links

Smokers suck!

cigarette buttsI don’t know why a landlord would put up with smokers.

Smokers cause huge damage to property and they stink the place up and scare away nice tenants.

I just got an apartment back that reeked.  It took a full paint job and a ton of chemicals to finally make the apartment livable.  We lost a couple weeks rent because we had to shut the apartment up and bomb it with anti-smoke concoctions, clean every square inch, and then air it out.

By the way, the lady that lived in that apartment, who repeatedly lied when we tried to find out who the smoker was after numerous complaints and notices, wanted her deposit back!

Luckily, we were able to save the carpet.

We have a little complex in escrow at the time of this writing, that is full of smokers.  It’s nasty.  We have a big job ahead of us.  But we’ll be able to raise rents significantly just by getting rid of the smokers and the stench.

That’s what real estate agents call upside potential!

Links

Professionalism

house keyI ran into an old friend a few nights ago. His name is David Read and he’s the real estate broker that sold my son, Josh his first home.  It was a view condo.  Josh was 20 years old and I was a single mom going to school.

Dave treated us like we were special.

Josh made a bundle of money off of that first home.  He lived in it for a couple of years, then he rented it out for a couple of years, then he renovated it and moved back in, then he sold it for a $65,000.00 profit.

It’s doubtful that Josh could have “saved” $65,000.00 in the same time period.  Plus when you factor in the tax benefits and the benefits of having his tenants pay his mortgage down, Josh figures that he pretty much lived in the condo for free for the years that he lived there.

The experience also made Josh a believer, so I was able to recruit him as my real estate investment partner and that has worked out pretty good too!

Dave got Josh off to a great start in life, by helping him buy that first home.  And it wasn’t easy, because Josh was a 20 year old punk kid :), he was a commissioned salesman at Lifestyles 2000 Fitness at the time, and Dave had to work hard to find Josh that first loan.

Here’s what I learned from Dave’s professionalism and kindness:

1.  Show up at the close (or go over the HUDs in detail beforehand so your clients know what to expect when they sit down to sign hundreds of pages).

2.  Make your clients feel special.

3.  Solve problems.

Not necessarily in that order.