My new article for BiggerPockets is up, although I don't particularly like the name they chose for it. You cannot "avoid after-hour phone calls from tenants." But you there are "there are certainly ways to deal with these problems. You just have to have a plan going into it."
The article was originally titled a "Guide to Emergency Maintenance." And that's what it goes over, which is extremely important as many people considering real estate investment and property management are scarred to death of a tenant calling at 2:00 am with some emergency. The most important thing to do right off the bat is to accept that emergency maintenance will happen. It is a fact of life. Don’t cross your fingers and hope for the best. Accept it will come from time to time and plan how to handle it.
The article then goes into detail about the how of creating (and executing) a plan "to handle it." So check it out.
The piece also features Phillip's and my video from our YouTube channel on the same topic, which is worth checking out as well:
Comments
So I made a Facebook post calling for Trump to pardon Snowden and Assange. Then in responding to a comment saying Snowden was a traitor and Assange an enemy of the United States, I pointed out that 1) they were whistleblowers and 2) they're crimes pale in comparison to those in our government. Can we at least put Clapper (perjury), Brennan (illegal torture, spying on the Senate, perjury), Comey (stealing gov docs, being a douchebag everyone hates), Clinton Notice Clinton is just one of many and I even implied the hype around Clinton's emails was overblown ("muh"). But some liberals just aren't that tolerant of even mild disagreement. Indeed, this is becoming a major problem on the Left. For example: But I digress. So here's the response I got. (I remind you I referred to George W. Bush as a war criminal.) Explain the Clinton emails thing, please. And the "bullshit foundation". Do so with facts. I'll wait. Take your time. OK... her guilt was obvious so here goes, The email thing is pretty obvious although in and of itself, it was overblown. I mean, before Comey said he wouldn't bring charges for what amounted to no particular reason, he pretty much said she was guilty AF: Oh, but here's the thing, "OK, so you understand that she had a private server (they all do), and that of the 30,000 emails uncovered they found ZERO that were problematic?" And a bunch of other blather. Me again, What do you mean they found nothing? Many of the emails were marked confidential or top secret. You're not allowed to send confidential emails over a private server. You're also not allowed to delete 30,000 emails after receiving a subpoena (some of which had confidential information) and not all of which were recovered. But you must understand that I just "wanted justify whatever preconceived nonsense you want to conjure." Here's the full semi-coherent "rebuttal," Realize, that every email has a recipient, often times multiple. Even "deleted" emails ended up having recipients and trails. The endless series of baseless assertions and ad hominems almost convinced me. Indeed, it's weird that I keep getting told they found nothing when they found classified information, which was basically what they were looking for. (And it was probably hacked by foreign governments because it wasn't sufficiently secure.) Anyways, my response, Yes, it was investigated and she was found to have illegally used a private server, sent classified documents on it repeatedly and deleted emails after receiving a subpoena. I had no idea you got to delete emails you deemed not related to work after receiving a subpoena (even though several of them actually did contain classified information). Good to know. For all the liberals complaining about "whataboutism" and demanding conservatives "defend Trump without referencing Obama or Hillary" it's amazing how pretty much every defense of Hillary comes down to X Republican or Y member of the Trump administration did it too.
Yes, Trump was corrupt. So was Hillary. Indeed, it is blatantly obvious Hillary Clinton was guilty in the email scandal and that the Clinton Foundation was, at least in part, a pay-for-play scheme. Partisanship makes people stupid. So Phillip and I released a video for our YouTube channel on the new trend (meme?) of "Leaving California" where we amusingly (if I can't say so myself) explained that were were moving to California in order to leave California so we could leach off this meme. I then followed up with a BiggerPockets post asking whether real estate investors should leave too. It was one of my all-time most popular posts with 141 comments so far. And while most people agreed with me (probably two or three to one), there were a lot of butthurt Californians to say the least. I try not to be petty and I do hope California pulls its act together and reverses their downward trend. But given how many Californians (and "coastal elite" types) love to mock "Flyover country" and particularly the South, it's awful hypocritical to get so upset when someone makes fun of you back. And furthermore, I wasn't making fun of them. I was pointing out the many problems the state has and asking whether investors should flee. (My answer, by the way, was they should not, but of course that was ignored.) There were a few that actually made rational arguments. Most notably they mentioned the large GDP of California (that I discussed) or high returns from the past (which I discussed) or the continued population growth (from mostly poor immigrants, California has had seven straight years of internal outmigration). Some just merely asserted it, like this comment on our video, "As a California Real Estate investor who's selling their out of state properties to buy more properties in California I'd love to debate some of the misinformation you've stated." My request he start of by correcting us where we went wrong in the comments, of course, went ignored. Others went something like this, Blah, blah, blah. If I had a quarter for every article regarding California's demise. Even as far back as the early nineties, Time ran a headline regarding the shine coming off the Golden State. My investments in LA and SD have yielded 500%+ appreciation in the last 20 years, and my CAP rates are double digits. I'm not even going to get into the glaring numerical errors in the article. Stay in KC, I'll remain in Cali. Sorry, I couldn't help myself... But I must note that again there are the "numerical errors" (with something like 80 links for citations) that are not referenced. Of course, I don't say he should sell and mention that California had had great appreciation in the past so the comment belies an ignorance of the article's contents. It's almost like when you assume an article says "blah blah blah" your reading comprehension goes down. Regardless, because of California's extraordinarily strict building codes and increasing population (due to immigration), prices will likely rise. It just means the middle class will get shredded even more so. (Although probably not as they have in the past as affordability has become a huge problem. And cash flow is bad in California, so it wouldn't be my first spot to invest.) Or this, "This reads as merely anti-California propaganda. California leads in new job growth." (Well, not per capita. Indeed, it's not even in the top 10. And the problems of poverty, inequality, homelessness, commute times, a stifling political environment, housing affordability and inequality and just filth aren't going to be fixed by a large GDP (nor bans on plastic straws.) There's a bunch more like that, but I shouldn't be too harsh, though. I would say there were three agreements for every disagreement and two agreements from Californians or ex-Californians for every one disagreement. For example, comments like this, Great analysis. As a resident of the state, our family has seen many friends leave the state over the past few years and know many others who plan to leave but are waiting for their opportunity And of course, we should hope California's politicians right the error of their ways. Perhaps with Trump out, the hyper-liberalism of the past few years will subside since there's no super villian to oppose. Hopefully. California had the benefit of huge industries (Silicon Valley, Hollywood, the Cal Tech university system, tourism, etc.), near perfect weather, great amenities (beaches, mountains, Yosemite National Park, Napa Valley, etc.).
It really would be a pity if they pissed it all away.
Tulsi's right Donald. You did the right thing pardoning General Flynn. Now pardon Assange and Snowden.
Do it. Here's a good wholesome meme for you all for Thanksgiving: And here's a more appropriate (and funny) one for after your Thanksgiving feast:
The election has been over for three weeks now, but Trump has yet to concede and many on the Right are sure there was widespread voter fraud that stole the election from Donald while the Left continues to accuse him of wanting to be a "dictator" and pretty much every other terrible thing under the sun.
Indeed, it's hard to believe there wasn't at least some voter fraud. When outlets like The New York Times say "there is no evidence" of it, it raises an eyebrow. After all, we know that several dead people ended up casting their vote for Biden (and probably a few or Trump too). And two men were charged with filing applications for thousands of homeless people to vote in California. And of course, it's happened in the past. The 1960 election was infamous for voter fraud in Chicago (although it was unlikely to be enough to have swayed the election), which also happened in the 1982 Illinois gubernatorial election and the 1987 Chicago mayoral election. (What the Hell is wrong with Chicago?) Further, the Heritage Foundation has a list of 1285 confirmed cases of voter fraud. And issues with mail-in voting caused 100,000 ballots to be thrown out. And add to that the general issues with ballot harvesting and electronic voting machines. And then of course, there's the fanatical hatred of Trump. Indeed, Arizona's Secretary of State said Trump was "pandering to his neo-nazi base than being @POTUS for all Americans." If she actually believed that, do you think she would be unwilling to cheat? And there's all sorts of weird anomalies about this election. - The late vote dumps that erased Trump's lead in the day (which, of course, don't "prove" fraud) - The Michigan postal worker who alleges he was forced to back date late-arriving ballots. - Allegations of trucks arriving in the middle of the night with ballots that were mostly for Biden. - Five Milwaukee wards with turnout of 89 percent; many, many standard deviations outside the norm. - And, of course, Trump becoming the first ever sitting president in the modern era to gain votes in his second election but lose. And he gained about 10 million votes over 2016! Of course, there have been a lot of bullshit claims too and it has been hard to sort the wheat from the chaff. For example, no, Wisconsin did not have over 100 percent voter turnout. And even the Trump campaign is distancing itself from Sydney Powell's extreme claims. Still, there's evidence of a bunch of shenanigans. The question is; how many? I don't like Trump. I think he's impulsive and shallow and caters to the neocons even though most of them hated him. But, of course, I despise the Democrats as well. And the election seems questionable to me. But there's a bigger problem. A new poll found "Roughly half of Republicans believe President Trump “rightfully won” the election, with 68 percent saying they had concerns about a “rigged” vote counting process in favor of President-elect Joe Biden." On the other hand, not long ago another poll found that, "Three-quarters of Democratic voters believe that the Trump campaign conspired with Russia to steal the 2016 election." (He didn't by the way.) We're getting to the point where neither side sees the other as legitimate. It used to be that you had a preference for the Democrats or the Republicans or perhaps, like me, you hated both. But now, it's intolerable. How can we live together if we can't accept our party losing an election? Perhaps peaceful secession is the only way out...
The answer to that question given by those at BiggerPockets who write the titles is "maybe" although for me it's really "yes, but it's much harder than it once was."
As my newest article points out, Yes, there are still deals on the MLS, even ones that hit the 70% (or 75%) rule. But they are very few and far between, and you have to keep your ear to the ground and act quickly to get a shot at those few diamonds in the rough.
Indeed, the most valuable part of having access to the MLS is its use in helping value properties (especially now). But yes, there are still deals out there, especially miss-listed properties.
To know how to catch those, check out the article. It also features this video we did for our YouTube channel, which is worth watching as well:
So I'm back to writing for ThinkRealty again after a long hiatus and my new article is up, "How to Resolve Tenant Disputes." As I note,
Every disagreement is between two (or more) opposing sides. But what if you put yourself on the tenant’s side to argue against something else entirely? By doing this, you can radically reduce the tension and hostility between you. After all, why would there be any hostility if you are on the same side?
My second article for them was also published (I will probably be publishing about an article a week). "How to Screen Tenants." (I believe my proposed title was "How to Screen Prospective Tenants" as it's a wee bit to late to screen someone once they are already a tenant.
Both also link to videos on our YouTube channel. The first one how to resolve tenant disputes:
So Jake Tapper had Fauci on his show about Coronavirus and thinks that Christmas is "probably not" this year. Fauci seemed less convinced at least.
So ummm yeah, fuck you Jake!
My latest article for BiggerPockets completes my three-part series on the best books to read (and in which order to read them): 1. Best Real Estate Books 2. Best Business Books 3. Best Personal Development Books It starts with the best book I know (or perhaps second-best, see below) on overcoming fear, 1. Feel the Fear and Do it Anyway by Susan Jeffers Then it lists nine more and a bunch of honorable mentions. Unfortunately, I got ahead of myself and somehow forgot about one of the all-time greats. As I note in a comment to the piece, I must have lost my damn mind and somehow forgotten about Dale Carnegie. How to Win Friends and Influence People as well as How to Stop Worrying and Start Living should both be added to this list. The article is still definitely worth reading (just remember to read the first comment too). So check it out!
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