Mr. Ed's Real Estate

02/17/2024

There are still good properties out there for investors . If you aren’t seeing them, here’s a few ideas.
1. Set up an alert for the MLS that meets your criteria.
2. Contact local towns to see how they get rid of their tax acquired property and get on any list they may have for buyers.
3. Contact your local code enforcement and ask if there are any properties that they would like to see a new owner for and contact them.
4. Facebook Marketplace and any printed local advertisers. Some won’t post online and these are often overlooked .
5. Look for vacant properties and contact the owners.

11/09/2023

Interest rates have tripled over the past 18 months, prices have softened, and expenses have risen. There are still good deals to be made but the strategy has to change. Those who have been cashing out on refinancing and increasing leverage may be in trouble. The low-interest 5-year commercial loans written in 2020 only have two years left. Many of those properties won’t be able to be refinanced again. There should be a lot of opportunities in the next few years. I’ve invested for 30 years now. I was paying 9.5% for bank money at one time and still making money. In every market there are opportunities. Generally, what the majority of people are doing and thinking, you want to be doing the opposite.

How can I help?

07/02/2023

With markets cycling now more caution and lower debt is the course of wisdom. High leverage can cause a collapse when vacancies go up and interest rates rise and prices drop. We are seeing all of these happening. So it could be the perfect storm if not prepared. My advice is to add to your vacancies projections. Don’t plan on being able to refinance in the near future. Make sure you have the reserves or the ability to handle a tenant not paying rent. Most modern day gurus have only been investing in real estate during an unprecedented bull market. Their basic premise is that you buy, rehab, jack up rents increasing value, refinance to get cash back and repeat the process. That worked well for the last 10 years or so. However, it may be a house of cards when the investment climate changes. If you are planning on this stategy, try to get firm bank commitment before you count on the outcome. Feel free to ask questions or if you disagree, I’d like to hear your reasons.

10/15/2022

An ancient wise man said, “to making of books there is no end and devotion to them can be wearisome to the bones.”

I wonder what he would say if he were alive today? Websites, podcasts, audio books, there’s a thousand times more information to distract us today.

Granted it is great to get educated by experts through podcasts and audio books.

I personally listened to 1000s of hours and much of my success is due to learning from others.

But a few months ago I unsubscribed to a half dozen podcasts that I listened to. For a couple weeks I missed them.

But then it was a huge stress relief. For me, I think they promoted a subconscious feeling of competition and discontent.

So my opinion is to use them to educate yourself but then concentrate on taking action and enjoy your accomplishments in comparison to yourself.

If you have a question or need some more information then listen to something more.

But then stop and apply and enjoy life.

09/03/2022

9 Ways To Save Money While Renting

By Kimberly Dawn Neumann
Aug 31, 2022

With inflation jacking up the price of groceries to gas and beyond, just about everything has gotten more expensive these days—and rent is no exception.

SOURCE:
https://www.realtor.com/advice/rent/ways-to-save-money-while-renting/

High rents are making it hard for renters to save money, but there are plenty of ways to sock away some extra cash.

08/27/2022

Home prices fell for the first time in 3 years last month – and it was the biggest decline since 2011.

- Home prices declined 0.77% from June to July, the first monthly decline in nearly three years, according to Black Knight, a mortgage software, data and analytics firm.

- While the drop may seem small, it is the largest single-month decline in prices since January 2011. It is also the second-worst July performance dating back to 1991.
“Further price corrections are likely on the horizon as we move into what are typically more neutral seasonal months for the housing market,” said a Black Knight executive.

SOURCE: CNBC

The sharp and fast rise in mortgage rates this year caused an already pricey housing market to become even less affordable.

08/10/2022

Do you love black?

Then this is for you 🤣😁

08/08/2022

Work hard.

Focus on your goals and take action.

If you don't see any results from your efforts, consider what actions you should take. 🧐

Start again.

Find ways.

Don't surrender.

Those who never give up are the ones who succeed. 😃

07/26/2022

Keep pushing.
You can make it happen.

I know you will.
Just take action.

07/18/2022

__According to data from DataReportal, the average American spends 7 hours and 4 minutes looking at a screen every day.

This is slightly below average and around 45 minutes longer than the British who average 6 hours and 12 minutes of screen time per day.

But it is nearly four hours less than the biggest screen-time consumers, South Africans, who average around 10 hours and 46 minutes a day.

On the whole, the biggest screen-time consumers are located in Africa, Asia, and South America.__

From what I have observed, the biggest obstacle for people achieving great things is screen time.

It may be social media, TV, or computer games.

TIP:

Make it a goal to cut your time in half and you may be able to use that time to reach your other goals.

07/10/2022

Consider the wisdom in this quote 🙂

“You don’t go to the brick maker to learn
about jewels.”

— George Clason, “The Richest Man in Babylon”.

When applied to real estate investing, you want to find someone who has successfully done what you hope to do. 💯

Don’t take advice from someone who has not already accomplished what your goal is. 😃