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HOA's (Homeowners Associations) can be the death of cash flow for many investors. But they don't have to be. Sometimes (although not often) they can even be beneficial. On this episode of The Good Stewards Podcast, we take a look at HOA's and how to evaluate them when looking at potential investments. Check it out:
Episode 7: Acquisitions
Episode 8: Due Diligence Episode 9: Leasing and Screening Episode 10: Long-Term Financing Episode 11: Putting Systems in Place Episode 12: Choosing Your Market Niche Episode 13: Maintenance and Collections Episode 14: How We Bought a Package of 97 Houses Episode 15: Raising Private Capital Episode 16: Using Data for Marketing
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Piles are another term for hemorrhoids by the way... anyways...  The world may not be collapsing before our eyes, but it kinda feels like it sometimes...
For this episode of The Good Stewards Podcast, we dove into the weeds of data. Boring? Yeah, sort of. But if you want to get into direct-to-seller marketing, particularly for real estate investors, this is definitely a topic you need to check out.
Episode 6: Creating a Scope of Work
Episode 7: Acquisitions Episode 8: Due Diligence Episode 9: Leasing and Screening Episode 10: Long-Term Financing Episode 11: Putting Systems in Place Episode 12: Choosing Your Market Niche Episode 13: Maintenance and Collections Episode 14: How We Bought a Package of 97 Houses Episode 15: Raising Private Capital I've written about and talked about the BRRRR strategy in real estate quite a bit before, but it's a damn good strategy so there isn't any reason not to discuss it again; especially for a new publication. My first article in the real estate magazine REI Ink, which a digital copy can be found online here or by ordering a physical copy here. The piece is titled "An Introduction to the BRRRR Strategy" and appeared in the February 2020 edition. You can also find the article by itself online here. As I briefly describe it in the piece, Essentially, the BRRRR strategy is just buy and hold, but it approaches real estate as a flipper would. The big difference is, of course, that instead of selling to convert the built-in equity into profit, the BRRRR investor refinances at the end of the process and uses that built-in equity as a down payment.
On this episode of The Good Stewards Podcast we dive into one of the biggest stumbling blocks that new investors have: Raising private capital. If you want private loans (and they're all but essential for BRRRR investing), this episode is for you!
Episode 5: Investing in a Recession
Episode 6: Creating a Scope of Work Episode 7: Acquisitions Episode 8: Due Diligence Episode 9: Leasing and Screening Episode 10: Long-Term Financing Episode 11: Putting Systems in Place Episode 12: Choosing Your Market Niche Episode 13: Maintenance and Collections Episode 14: How We Bought a Package of 97 Houses My first ever article for Thrive Global has been published. It's on a topic I've covered several times before, but never explicitly and directly. And usually I relate it to quitting smoking. Namely, it's the importance of desiring the path itself, not the goal. First I note how most things are much better everything yet even more and more people are anxious, depressed, etc. There are many reasons for this (like FOMO and social media), but a really big one is that there are so many choices and people are setting so many goals and living in what Scott Adams' calls "pre-success failure." As one example I give in the piece, Take for example the fact that something like 97 percent of dieters regain all the weight they lose within three years. This really shouldn’t surprise anyone. A diet is something we force ourselves to do in order to accomplish a goal. The very definition implies, or perhaps even infers, that dieting is unpleasant and something we don’t want to do. How can anyone possibly not do something they want to do in perpetuity? Instead, the key is to find a path you can enjoy staying on. In this case, a path of healthy eating and working out that you enjoy. It even works for quitting smoking as I can attest.
Please check out the piece!
Inthis episode of The Good Stewards podcast, we discuss how we bought a package of 97-houses, easily our biggest acquisition of all time. (I also wrote about this deal here.) Check it out!
Episode 4: BRRRR Rent
Episode 5: Investing in a Recession Episode 6: Creating a Scope of Work Episode 7: Acquisitions Episode 8: Due Diligence Episode 9: Leasing and Screening Episode 10: Long-Term Financing Episode 11: Putting Systems in Place Episode 12: Choosing Your Market Niche Episode 13: Maintenance and Collections With the Super Bowl just around the corner (and my adopted team of Kansas City in its first Super Bowl in 50 years) and the College football season having just concluded, it seems apt to republish this piece from my old blog about the worst sports year for an entire state; Washington in 2008.
With the election finally over and done with, I feel I should delve into some less important topics such as that alternate universe of escapism we call sports. Although, those suffering from the agony of athletic ineptitude and deprivation that those living just to the north of me are, may disagree about this topic’s level of importance. What I'm obviously referring to is the epicly bad year Washington residents are experiencing when it comes to sports. Despite all the whining you've heard from Philadelphia or Chicago or Cleveland over the past 20 or 30 years, nothing even comes close to comparing with the absolute horror experienced by Washington sports fans in 2008. We'll start with baseball. I figure I should get the boring sports out of the way quickly so I can end on a bang. And the only thing more consistently boring than baseball is bad baseball. The Seattle Mariners make for a brilliant example of both the former and the ladder. They went an AL worst 61-101. Ichiro is still doing his thing, but everyone else is just stuck in fail mode. The Mariners have now missed the playoffs seven straight years. Moving on to football, things get more entertaining but certainly get no better for either Washington’s professional or collegiate teams. The Seattle Seahawks, playing in Mike Holmgren's final season, have been riddled by injuries and are now just 2-8, which will almost assuredly end their run of 5 straight division titles. Even worse is the fact that those two wins are twice as many as both the University of Washington and Washington State combined! Washington can at least say they've lost star quarterback Jake Locker to injury, but does that excuse being 0-10 and losing six straight by 20 points or more? How about Washington State, they did beat 1-AA Portland State, but have been simply atrocolicious (words don’t describe how bad they’ve played so I made one up that would) in league play. They rank last out of 114 College teams in scoring defense (giving up an other worldly bad 50.2 points per game) and are second to last in scoring offense (13.9 points per game). Yes they are being beat by an average of 36.3 points per game! In Pac-10 play they've given up 60 points four times, along with 58 and 59 and have been shut out three times! They are truly boys amongst men. Thank God for these two teams that they play each other next week in the annual Apple Cup - A game I almost want to make the six hour drive to just to see how awful a game of college football can actually be. Basketball gets a bit better, than a whole lot worse. Their college teams were actually pretty decent last year, but have graduated some good players and are expected to be middle of the pack this year. The Pro Team, well they were bad, real bad, and then they were gone. In the 2007-08 season the Seattle Sonics went 20-62, the second worst record in the NBA. However, Sonic fans knew it would be a bad season; they traded away Ray Allen and Rashard Lewis for a bunch of picks and young players. Plus they had just drafted Rookie of the Year Kevin Durant who averaged over 2o points a game in his first season. The future looked bright. Too bad that future now looks bright in Oklahoma City. In 2006, after failing to convince Seattle to help pay for a new stadium, Howard Shultz decided to sell the team to Clayton Bennett. Bennett subsequently held the city hostage by demanding they either build a new stadium or he'd move the team to Oklahoma City. First of all, cities shouldn't be helping private owners pay for new stadiums in the first place, but this case is particularly awful. Not only was there a Dog Day Afternoon like hostage situation, but it appears the plan from the beginning was to move the team, as the new Sonics co-owner Aubrey McClendon told an Oklahoma City newspaper "we didn't buy the team to keep it in Seattle." Unfortunately, unlike the movie, Clayton Bennett will probably not be shot in the face at the end. So yeah, Washington and Seattle got screwed by Bennett and his cronies. And unfortunately, for perhaps the millionth example that karma doesn't exist, Bennent is doing just fine and all the rest of Washington's sports teams have utterly collapsed into an unwatchable mess of athletically inept garbage. But hey, cheer up Washington sports fans, there's always next year (well for all your teams but the Sonics that is).
A few weeks back, I posted the first part in The Good Stewards Podcast's series on property management about leasing and screening. This week, we go into what do when you have a tenant in place; namely maintenance and collections. Maintenance in particular is important as that is virtually your only form of customer service for tenants once they start leasing from you. Good maintenance equals tenant retention. So take a listen!
Episode 3: BRRRR Refinance
Episode 4: BRRRR Rent Episode 5: Investing in a Recession Episode 6: Creating a Scope of Work Episode 7: Acquisitions Episode 8: Due Diligence Episode 9: Leasing and Screening Episode 10: Long-Term Financing Episode 11: Putting Systems in Place Episode 12: Choosing Your Market Niche |
Andrew Syrios"Every day is a new life to the wise man." Archives
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