Tim's blog

Late last week an application to join the Field Guide was submitted at the REITactics site. Several things happen when an application is submitted before I get any kind of notification. The phone number and email address are validated and a number of checks happen to identify anyone who was a member before and then decided it wasn't for them and requested a refund.

Every single person who wanted to invest or even just make a little money in real estate has reached the exact same point.

No matter how much knowledge they have accumulated; no matter how much confidence they have in their ability to spot a great deal; no matter what else is pushing them forward; their progress comes to a grinding halt.

For an extremely small minority it is just a little bump in the road. They easily get passed it and move on. For others it is much more formidable.

Of course I am talking about fear.

Recently, I was asked to negotiate the purchase of an apartment building on behalf of someone else. Handling the negotiations for others is something I have done from time to time over the last 25 years. After sitting down with my client and discussing their objectives in the deal I agreed to do it.
After my first conversation with the seller's representative on the phone I knew this was going to be an interesting and potentially frustrating deal to work through.
Not because of any inherent complexities of the transaction
Not because of any issues with title

This is one of the nicest e-mails I have seen and is so true:
I dreamt that I went to Heaven and an angel was showing me around. We walked side-by-side inside a large workroom filled with angels.

My angel guide stopped in front of the first section and said, 'This Is the Receiving Section.

Yesterday, an old friend and I were chatting on line about whether they should be adding to their current holdings or selling the ones they can to generate cash.
I make it policy to never, ever give anyone financial planning advice. I have a hard enough time planning and managing my own finances. I am not about to take on that task for someone else. However, we did talk in general terms about how buying right in any market probably makes sense if you have a longer term outlook.

I almost never get sick, I mean really sick. Sure, there is occasional sniffle or stuffy head, maybe a cough for a couple of days but really sick with a fever, headaches, etc. etc. etc.? Almost never as an adult.

Almost two weeks ago I woke up with a sore throat. I thought it was because of the recording we had been doing. No problem give it a day or two of rest and all would be well.

Well, no. Most of last week was spent on my back. As best anyone can tell it was a generic cold but for some reason it hit me hard. Except for short periods of time, I was out of commission.

This is wonderful! This is the new reality.

The state of the airline industry is pitiful and he lament about he should've "gone by car" is becoming the rally call of many. There are many times now when before I would've considered flying but now I will just get in the car and drive.

Yes, that probably does sound familiar to you. It is what Yoda said to Luke Skywalker in Star Wars: The Empire Strikes Back.

But, I am not talking about some kind of metaphysical failure here. I am talking about those who want to be real estate investors and yet never see much, if any success.

Over the last 25 years I have indulged a hobby. See, I have an electrical engineering degree and basically, deep down, way deep down because I push it down there, I think like an engineer.

As an investor, you know that time is money. You also know that every day a property sits unrented or unsold you are losing money. In the case of rents, a lost day of rent can never be made up.

So, what do you do when your local inspection office staff is slashed? What happens when you can't get the inspections completed in a timely manner?

This is a situation more and more investors are facing across the country as local governments deal with shortages of revenue. To the average homeowner, this type of situation is a minor inconvenience.

Last Thursday morning I spoke at a breakfast meeting of real estate investors. One of the questions that came up was about forums on the internet. The person asked me if there were any forums I could specifically recommend for general reading about real estate investing. I named several and noticed the pens flying to scribble them down. Which is great! I think everyone should have many sources they use for information. I happen to believe we maintain one of the best for our members but that is beside the point.

Then another person stood to ask a question.