Landlords

Charlotte Property Management Weekly: Drive + Drink = Lease + Option?

“Lease options might be the worst idea ever. Who would ever be a party to one? I tried one once and it was a complete disaster! I mean, I’m not a lawyer- there’s just so much that can go wrong; I don’t have firsthand knowledge of this mind you, but I’ve heard lots and lots of stories.” (Traditional Realtor)

“Combine two innocuous substances and “Walla!” A homemade bomb.” (Al Qaeda training manual quoting a MacGyver episode)

Charlotte Property Management Weekly: “Abe’s” Commercial Lease Negotiation Strategy Unveiled…

“I will get the lowest price per square foot for my new office lease.” (Charlotte Business Owner)

“I will not drop my initial offer for price per square foot for the new lease. It’s not worth it and I really don’t like this guy anyway.” (Charlotte Commercial Landlord)

“I will maximize this commission.” (Charlotte Commercial Real Estate Agent)

Charlotte Property Management Weekly: Former BOA CEO Ken Lewis Teaches Real Estate Investing

Ken Lewis is the man. You might have read and heard things in the news during the past year saying he is not the man, but they were all wrong. He’s got an unbelievable instinct for investing creatively. And he’s got the guts to execute.

If you live in Charlotte, you must heart Big Ken; it’s required. He built the entire town, kept the headquarters here as he grew Bank of America (BOA), and made sure his bank was actively involved in the community.

Charlotte Property Management Weekly: “Cash for Clunkers” Predicts a Cloudy 2010 Housing Market

“Can’t Believe You Still Have a Job” Award of 2009: Obama’s “Cash for Clunkers” sales forecasting team. As they projected a total 7-week program amount of $1B, they ran out of money before the first week was out and had to go begging Congress for $2B more.

If “prognosticatin’” is your game, and you’re off by that much, you probably need to find a new job- you just ain’t that good at it.

Charlotte Property Management Weekly: Is Rent-To-Own a Scam? Wait- Who’s Laughing?

“If you can’t spot the sucker in the first half hour at the table, then you ARE the sucker.” (Matt Damon in Rounders)

Back in 2006 when life was good and real estate sales were plentiful, I got a call from a friend of mine from New York City.

Charlotte Property Management Weekly: Santa Claus, Unicorns, & Risk Free Transactions (Or “How to Risk Manage Yourself Out of a Living”)

“I can’t do lease options. They are way too risky!” (Concerned Charlotte Realtor)

“That’s why it’s a short cut. If it was easy, it would just be the way.” (Paulo Costanzo in Road Trip)

Charlotte Property Management Weekly: Which is Better? Colts or Saints? Sale, Rental, Rent-To-Own, or a Combination?

Super Bowl time is here which means there will be rampant speculation about which team is better. Most people from Indianapolis don’t think there is anyway Peyton Manning will let them lose, while New Orleans fans think that destiny is on their side. Of course, no one knows exactly who is right, but that doesn’t stop them from arguing about it non-stop for two weeks.

Charlotte Property Management Weekly: The Tipping Point is Coming- Are You Prepared for Lease Purchase?

“I understand that qualified buyers are becoming scarcer by the day. More and more houses I list are sitting vacant on the market while the owner eats the mortgage every month. Do I just tell them to wait for the market to come back or is there something I can do?” (Charlotte Realtor)

“In sociology, a tipping point or angle of repose is the event of a previously rare phenomenon becoming rapidly and dramatically more common. The phrase was coined in its sociological use by Morton Grodzins, by analogy with the fact in physics that adding a small amount of weight to a balanced object can cause it to suddenly and completely topple.” (Wikipedia definition of “tipping point”)

“The Times They Are A-Changin’” (Bob Dylan)

Charlotte Property Management Weekly: Lies, Damn Lies, & Rent-To-Own Statistics: 5 Ways to Increase Your Odds of Sale

“I’m sorry. My Broker-in-Charge does not permit us to do lease options. She said the percent of people that actually purchase is 8%.” (Charlotte Realtor)

“Statistics are like a drunk with a lamppost: used more for support than illumination.” (Winston Churchill)

Wow- 8%! I still can’t get over that figure.

Charlotte Property Management Weekly: Tenant Tradeoffs: Another Piece of Chocolate Cake or Look Good With Your Shirt Off?

“I don’t like the prior bankruptcy on this prospective tenant, but they make great income. The other tenant has a 430 credit score, but has perfect landlord history. Should I accept either into the property?” (Charlotte Property Manager)

“If you can’t be with the one you love, love the one you’re with.” (Crosby Stills Nash & Young)

One of the main things I learned during my MBA classes was that business, like life, is all about tradeoffs.