Charlotte Property Management Weekly: The Top 3 Reasons Why Good Property Managers Matter More Now (Reason #2)
Traditionally, this could be considered a “lowering” of standards; however, in today’s market, I would argue that it is understanding, collecting, and interpreting tenant data better. Tenant selection has become more of an art and less of a science.
And this makes it much harder!
Learn MoreCharlotte Property Management Weekly: Top 6 Miscellaneous Tips for Rent-To-Own Deals
5. What about the much publicized “higher rental rates” you hear about that rent-to-own arrangements command? I don’t see evidence of this. Does this ever happen? Sure. Does it happen often in competitive markets? No. As an example, try to list your rental home for $200 above market rate as a “rent-to-own” and see what your response rate is. There are plenty of rent-to-own opportunities at market rate rent (or below).
Learn MoreCharlotte Property Management Weekly: Signs of the Times: Layaway and Rent-To-Own Are Back!
If you owe the bank $100, that’s your problem. If you owe the bank $100 million, that’s the bank’s problem.
(J. Paul Getty)
This can easily be reworded to fit today’s real estate market:
“If you can’t get financing to buy a house, that’s your problem. If millions of people can’t get financed, that’s the home seller’s (and their real estate agent’s!) problem.” (Brett Furniss)
Learn MoreCharlotte 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)
Learn MoreCharlotte Property Management Weekly: “Terms” of Endearment- The Key to Selling Real Estate Buyers
If you were offered both of these jobs, which one would you take?
Job #1: $80K annually
Job #2: $30K annually
Duh, the $80K one.
Now let’s look at the job descriptions:
Learn MoreCharlotte 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.
Learn MoreCharlotte 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.
Learn MoreCharlotte 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.
Learn MoreCharlotte Property Management Weekly: Innovate Quickly or Die! In Real Estate?
“Financial Crisis
Stalled too many customers
CEO no more”
(Haiku twitter message posted by just fired CEO of Sun Microsystems, Jonathan Schwartz, 2/4/10)
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.
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