The spices and seasonings of the gourmet real estate investor

Emeril can’t figure out where he made his mistake.  He thought he was getting a great deal when he bought a house and got a 10% discount.  However, he barely turned a profit on his investment.

Julia also is completely stumped.  She bought a house with a 25% discount.  However, after selling the property, Julia lost money.

Any cook can try to cover up a bad chicken with salt, pepper, oregano, lemon, paprika and more, but what do you have?  Still a BAD CHICKEN DINNER.

In the same light, a real estate investor who starts off with too small a discount on their purchase, can try to make up for it after the purchase with hard work, fancy improvements, and eye-catching advertising.  However, what will they still have?  Usually, they will still have a BAD INVESTMENT.

So what are the right spices and seasonings (discounts) every gourmet real estate investor should know about?  How should they be applied like gourmet chefs Emeril Lagasse and Julia Child? Read More→

Many people think that being rich is about having enough money to do whatever you want.  However, these same people miss an IMPORTANT POINT.  Having millions of dollars may make you “financially rich”.  However you will have lived a “poor life”, if you were a “slave to money” and did not have adequate time for family, friends, and the many other enjoyable things life has to offer.  The following stories illustrate this point.

Jack’s Story

Shortly after Jack turned thirty, he married his college sweetheart.  Jack was a sharp and thoughtful guy, as well as a meticulous planner.  Jack saw all the layoffs happening in the corporate world, and wanted to establish a safety net for his upcoming family beyond the fragile sanctuary of his day job.  He was determined to give his two kids a better quality of life than he had growing up.

Jack invested in rental homes.  He also bought a sandwich shop franchise.

Over the years, Jack did make money on his real estate investments.  However, he also found some very unpleasant surprises.  Tenant turnover was a big problem.  Repairs and re-renting the properties were eating up much of Jack’s time with his family.  Especially upsetting to Jack was the weekend and evening time these properties ate up.  This was time he would rather have spent coaching his son’s sports team and watching his daughter’s theatrical productions.

The sandwich shop also made money.  However, Jack was surprised at how hard it was  to find dependable employees.  Whenever an employee did not show up, Jack or his wife often had to fill in.  Several times Jack had to cancel or postpone the family vacations due to employee issues.

Yes, in the end, Jack’s investments made “good money”.  However, his investments had made a significant negative impact on his family life, as well as his ability to spend time with friends and on other things he loved to do.  There was many a time when he wondered whether all the extra money was worth the sacrifices he made.    Read More→