The $10,000 Property Tax Problem

Property taxes can seem outrageous, and sometimes actually are!  I certainly thought so when looking at a notice from the county awhile back on a property I had purchased.  There had to be a mistake in the assessed value. It was way too high. Where did they get that number? The Realtor who assisted on the purchase told me to

My Biggest Mistakes in Real Estate Investing

I spent many years investing in real estate in south Minneapolis, buying run down–even condemned–duplexes and four-plexes. My husband at the time was the handyman, bringing these properties back to life along with a crew of subcontractors. We rented the updated and remodeled apartments through a government-subsidized housing program, Section 8. We chose this model of investing for several reasons.

How Much Money Is Needed To Invest in Real Estate?

Most people believe they need a large down payment to even start investing. IT’S NOT TRUE! It’s a big myth, and without any further information the majority of people stop right there. Does this sound familiar?  Is this you? The truth is there are a ton of ways to finance real estate deals. There are methods that are more sophisticated

Are You An Open Minded Investor?

One thing I notice about successful real estate investors is they have an open mind. That’s important because deals don’t always go as planned or turn out the way you expected. If you are stuck in your thinking or wanting to find deals that fit EXACT parameters, the process becomes much more difficult. These are the people who are the

In Real Estate Investing, you need to know your numbers. Do you know yours?

It is amazing that only 30% of Americans have a long-term financial plan that includes savings and investment goals. Aren’t you glad you are one of these people? Anyone who is investing in real estate has to know about the numbers. I’m talking about available cash, leverage, mortgage rates, and cash flow analysis, NOI, ROI and ARV, and so many

Be An Investor – Not A Landlord

What is the difference between an investor and a landlord? A Landlord owns rental property and has a tenant live in the property and pay rent. Many landlords are accidental – inherited the property, not able to sell, lazy, etc. Whereas, an Investor is someone who has a plan, is building on it and is a sophisticated business person. An investor has the foremost

NEST EGG – GROWTH OF PASSIVE INCOME

What are you doing to build up your nest egg?     People ask me all the time, what should I do? Is real estate the answer? The truth is, it is never just one thing.  It is diversification. I practice that today and have financial freedom. Although, that didn’t prevent a major financial setback as a result of a tough divorce–from

STICKY SITUATIONS REQUIRE BRAVERY

Have you ever had an agreement with someone and thought the rules and boundaries were unmistakeably clear? Then…when it was time to split the profits, or put in the money, it became sticky. In real estate deals, sticky situations happen: Suddenly, the boundaries got blurred, there was a misunderstanding or someone didn’t do what they were supposed to. Then the

How to Make Money In Real Estate

FINALLY…  The name of the sailboat I just spent a week aboard in the Virgin Islands. It takes teamwork and a smart captain to handle the ocean and its temperament. There was “rollers” (high waves) and definitely a sense of being off balance as the boat rocked to the side and I held on tight. Experience, a willingness to learn everyday and a childlike

LOW INVENTORY MEANS QUICK DECISIONS

Powerful people are adept and usually quite good at making quick, decisive decisions. It’s a matter of honing this particular skill and being able to trust yourself fully. What is it that lets one person come to a choice faster than another? What is decisiveness? The ability to discern, instantly, and make a choice between options. A firm or unwavering