How is this for a catch phrase…
Real estate is the most difficult thing you will learn how to do and the easiest thing once you do…
It’s certainly better than “the less I do, the more I make”.
Mike
Mike,
Just wondering, why don’t you sell those individual properties and get an apartment complex with a professional management company? Is it because you think that the expenses will be higher (even with the economies of scale working for you), or it’s difficult to find a good complex, etc?
Thanks!
I don’t have any intention of selling any of my rentals, but I certainly would be interested in an apartment complex or a mobile home park. I have been looking for over a year, mainly for a mobile home park, but haven’t been able to find one that will cash flow properly.
Mike
Fair enough, I was just thinking that you could “work less while making more” (:)) if you owned more doors under one roof, which would also allow you to get away from fixing toilets and such, since I doubt that’s your favorite part. Then again, I guess you’d have to sacrafice the potential leads you say that you get from such work…
I actually think Mike likes fixing toilets. :biggrin
As a matter of fact, I changed a wax ring today. I don’t mind working 3 or 4 hours in the middle of the day, it beats watching soap operas. So, the answer is yes, even if I bought an apartment complex or mobile home park, I would still work. I just have no desire to sit around the house every day and watch tv. Although, weather permitting, I am taking tomorrow off to go snowboarding!
Mike
There’s this to be said for fixing toilets:
It gets you inside the apartment to take a look at conditions and to check up on how the tenant is treating your place.
It also gives you a chance to check for damage that hasn’t been reported and get that fixed before it turns into major damage.
Your plumber is not going to call you to tell you there is a dog dish in the kitchen of your no pet rental. Nor will he report that there are men’s shoes in the closet in the studio that is supposed to only have 1 single lady on the lease.
Landlords who do not want their property trashed or turned into a flop house or a drug house will check on conditions frequently. Doing repairs is a really good excuse to check things out.
Hey I get fixing your own toilets being beneficial, just like doing your own work in your rehabs. Just not for me. :biggrin
I know Ron Legrand has been around for a while and our paths have crossed a few times, so he can’t be all bad or his course still would not sell everyday.
I have only taken a starter course of his years ago. It was basic info (It was just to up-sale me to a higher dollar course) so the information was not all that helpful.
After reading the info at this link below, it seems most people like his education, but some find no value in it? Go Figure.
http://realestatecoursereviews.com/review/index2.php?item_id=19
For me I like paying one price for all the education and not being upsold each step of the way, but that is just me. I am a full time investor and have been for over 4 yrs now and I love it.
If you choose Ron Legrand (or any other Guru) you will only get out of it what you put into it and that I will guarantee you.
Good Luck and I wish you success in your future.