Robert Guthridge's Blog

On today’s episode of the InvestFourMore Real Estate Podcast, I speak with Tom Cafarella. Tom has been a real estate investor for a long time, but in the last five years, he has done some amazing things. He has bought over 500 properties to flip, wholesale, or hold as rentals. He has also started a real estate brokerage that has added over 20 agents in 2 years! On this show, I talk with Tom about how he has been able to buy so many houses and add so many agents. I will give you a hint: the two go hand The post Podcast 137: Buying More Than 500 Properties in Five Years with Tom Cafarella appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2Et5kpA via IFTTT

Dubious Fashion Trend Amongst Those Old Enough to Know Better At least IMHO, Mark Zuckerberg’s cardinal sin isn’t unleashing Facebook on the masses. Or, vacuuming up consumers’ personal data by the trilobite, then selling (“monetizing”) it to advertisers for gazillions. Or even providing a platform for foreign meddling in U.S. elections. Young Adult Attire No, I blame Zuckerberg for ubiquitous hoodies, at least amongst a particularly close-to-home demographic: my 3 teenage kids and seemingly all their friends. They say it keeps them warmer. I hope so. Because it certainly doesn’t make them looker cooler, or somehow non-conformist. . . P.S.: Of course, if my middle kid really wanted to be warmer, he’d stop wearing shorts in January. from RSSMix.com Mix ID 8230700 http://ift.tt/2rWcDDl via IFTTT

“I’m Not Being Rude . . . I’m Just Being a Realtor” It’s purely anecdotal, but my guess is that nobody can (and does!) end a conversation faster than a veteran Realtor. They/we aren’t being short or abrupt. Rather, we’re just juggling lots of balls, and know that, when a hard-to-reach client pops up on your caller ID — perhaps with a time-sensitive response to an offer — you may have 3-4 seconds to finish the call you’re on, and take theirs. “Thanks, But I Already Know How You Are” Other agents know that, and aren’t offended. But, I find myself periodically slowing down transitions with non -Realtors, just to avoid the perception that I’m rude. And of course, calling back when appropriate . . . P.S.: My hunch is that  family members of Realtors can attest to the above as well. And no , if I just talked to someone 10 minutes ago, I’m not going to preface my next call to them with another “How are you?” See also , “ ...

Next:  Costco Does Health Care “Your margin is my opportunity.” –Jeff Bezos [ Editor’s Note : Edina Realty is a subsidiary of a Berkshire Hathaway-owned entity.] For anyone horrified by spiraling U.S. medical costs, the just announced Amazon-Berkshire-JP Morgan initiative is welcome news. While the companies’ focus (at least initially) is to provide better care for their own employees, it’s hard to imagine any innovations not being applied more broadly. Auto (and Other) Bodies Here’s hoping that the field attracts still more would-be “disrupters.” My personal favorites: Costco, Apple, and Honda.** God knows, with the $3.3 trillion(!) Americans spend annually on health care — 50% more than comparable Western countries — the industry represents a ripe target . . . P.S.: Yes , Honda — if we can get 200,000 miles on our Honda Element, maybe the company can help us get 90+ years on our other bodies . . from RSSMix.com Mix ID 8230700 http://ift.tt/2DMwZkd via IFTTT

“Fake it till you make it.” –aphorism Personally, I’ve never felt comfortable with “fake it till you make it” — on either side of a professional relationship. As a client (or patient!), who wants to hire someone who’s faking it? (however convincingly). Would you want your brain operated on by an inexperienced surgeon? How about fly on a plane flown by a green pilot? “Customer as Guinea Pig” Thankfully, the stakes are lower in real estate sales. Still, as a newbie agent once upon a time, I elected to pay a seasoned agent to mentor me through my first couple of deals rather than risk making rookie mistakes at my clients’ expense. I made less money, at least for a little while. But, my clients got superb service, from my first day in the business. All of which is why I prefer the credo espoused by legendary Stanford and San Francisco 49ers football coach Bill Walsh (above) . . . P.S.: Of course, projecting confidence  is a prerequisite for any good professional...

The Easy Way . . . and the Hard Way The Buyer’s inspection revealed a material defect in the home that the Seller doesn’t dispute. Both parties want to stay in the deal. What are their options? Option #1 :  the Seller fixes the problem, prior to closing. Here are the related steps: Buyer and Seller negotiate an Amendment to the Purchase Agreement describing the work to be done — typically, by a licensed contractor — and further providing that, post-completion, the Buyer is to receive copies of the related invoice showing that it was paid in full.  If the issue requires a re-test — for example, radon remediation — Seller is to provide Buyer with documentation that the re-test results are satisfactory. [Optional]:  The Buyer checks out the reputation (or tries to) of the contractor hired by the Seller; The Buyer reviews the work performed, often as part of the walk-thru inspection just before closing.  If there are any issues regardin...

The housing market continues to operate in a very lean environment.  Home builders are building but are focusing their efforts on multi-family units to cater to a growing renting population.  Builders are also shy about placing big bets given the recent memory of the previous housing bubble.  Places where they can build freely like Arizona, […] from RSSMix.com Mix ID 8230700 http://ift.tt/2GqFxyW via IFTTT

Eyes may be the window to the soul. But, at least in the housing market — and specifically, when it comes to remodeled homes — it’s exactly backwards. Namely, the state of the home’s windows frequently tell you everything you need to know about the quality (or lack thereof) of the remodel. Cutting Corners? Show me a home that has high-quality replacement windows, and I’ll show you a home that’s been meticulously updated with fine finishes. Conversely, when I see a remodeled home with cheap, new vinyl windows — or ancient windows camouflaged by fancy, new window treatments — it’s typically the case that the Seller cut other corners as well. P.S.: As I like to tell clients, “there’s seldom just one cockroach.” from RSSMix.com Mix ID 8230700 http://ift.tt/2Er5T32 via IFTTT

Dubious Fashion Trend Amongst Those Old Enough to Know Better At least IMHO, Mark Zuckerberg’s cardinal sin isn’t unleashing Facebook on the masses. Or, vacuuming up consumers’ personal data by the trilobite, then selling (“monetizing”) it to advertisers for gazillions. Or even providing a platform for foreign meddling in U.S. elections. Young Adult Attire No, I blame Zuckerberg for ubiquitous hoodies, at least amongst a particularly close-to-home demographic:  that’s all my 3 teenage kids and their friends seem to wear half the year. They say it keeps them warmer. I hope so. Because it certainly doesn’t make them looker cooler, or somehow non-conformist. . . P.S.: Of course, if my middle kid really wanted to be warmer, he’d stop wearing shorts in January. from RSSMix.com Mix ID 8230700 http://ift.tt/2rWcDDl via IFTTT

“I’m Not Being Rude . . . I’m Just Being a Realtor!! It’s purely anecdotal, but my guess is that nobody can (and does!) end a conversation faster than a veteran Realtor. They/we aren’t being short or abrupt. Rather, we’re just juggling lots of balls, and know that, when a hard-to-reach client pops up on you caller ID — perhaps with a time-sensitive response to an offer — you may have 3-4 seconds to finish the call you’re on, and take theirs. “Thanks, But I Already Know How You Are” Other agents know that, and aren’t offended. But, I find myself periodically slowing down transitions with non -Realtors, just to avoid the perception that I’m rude. And of course, calling back when appropriate . . . P.S.: I’m guessing family members of Realtors can attest to the above as well. And no , if I just talked to someone 10 minutes ago, I’m not going to preface my next call to them with another “How are you?” from RSSMix.com Mix ID 8230700 ...

Next:  Costco Does Health Care “Your margin is my opportunity.” –Jeff Bezos [ Editor’s Note : Edina Realty is a subsidiary of a Berkshire Hathaway-owned entity.] For anyone horrified by spiraling U.S. medical costs, the just announced Amazon-Berkshire-JP Morgan initiative is welcome news. While the companies’ focus (at least initially) is to provide better care for their own employees, it’s hard to imagine whatever results not being applied more broadly. Here’s hoping that the field attracts still more would-be “disrupters,” including personal favorites Costco, Apple, and Honda ( yes , Honda)  . . . God knows, with the $3.3 trillion(!) Americans spend annually on health care — 50% more than comparable Western countries — the industry represents a ripe target . . . from RSSMix.com Mix ID 8230700 http://ift.tt/2DMwZkd via IFTTT

“Guess Which City” Multiple Choice You can’t   always   tell which city you’re in, seconds after getting off the plane. But, sometimes you can (sometimes, you can tell seconds after getting on the plane. Exhibit A: Las Vegas). In that vein, see if you can guess where the airport with the sign above is located: A. Dallas B. Chicago C. Philadelphia D. San Francisco Answer : “D.” Sometimes, the clichés are right . . . P.S.: What does the Twin Cities’ airport, now swarming with Super Bowl 52 visitors, say about us? Let me put it this way:  a good chunk of the people at the airport are local, purple-clad volunteers. Somehow, I don’t see that happening in New York City (or at least, not with the same Midwestern cheer . . . ). See also , “ Airport Multiple Choice .” from RSSMix.com Mix ID 8230700 http://ift.tt/2no3DlK via IFTTT

“Fake it Till You Make It.” –aphorism Personally, I never felt comfortable with “fake it till you make it.” Who wants to hire someone who’s faking it? (however convincingly). Would you want your brain operated on by such a surgeon?” How about fly on a plane flown by a pilot who was (faking it)? Cue Real Estate Sales Thankfully, the stakes are lower in real estate sales. Still, as a newbie agent once upon a time, I elected to pay a seasoned agent to mentor me through my first couple of deals rather than risk making rookie mistakes at my clients’ expense. I made less, at least for a little while — but, my clients got superb service, from my first day in the business. All of which is why I prefer the standard of conduct — and mindset — espoused by legendary Stanford and San Francisco 49ers football coach Bill Walsh (above) . . . P.S.: Of course, acting confidently is a prerequisite for any good professional. from RSSMix.com Mix ID 8230700 http://ift.tt/2rSDMHy vi...

A few people in my coaching programs have asked about buying newly constructed houses as rental properties. I personally have never bought a newly constructed house as a rental, and I do not think most new houses make good rentals. There are a number of reasons why I do not like newly constructed houses for rentals, but the biggest one is it is really hard to get a good deal on them. When you buy a new house, you usually pay more for the newness of it than you would pay for a similar house that is a couple of The post Are New Construction Rental Properties a Good Investment? appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2BBw6ZF via IFTTT

A few people in my coaching programs have asked about buying newly constructed houses as rental properties. I personally have never bought a newly constructed house as a rental, and I do not think most new houses make good rentals. There are a number of reasons why I do not like newly constructed houses for rentals, but the biggest one is it is really hard to get a good deal on them. When you buy a new house, you usually pay more for the newness of it than you would pay for a similar house that is a couple of The post Are New Construction Rental Properties a Good Investment? appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2BBw6ZF via IFTTT

The Easy Way . . . and the Hard Way The Buyer’s inspection revealed a material defect in the home that the Seller doesn’t dispute. Both parties want to stay in the deal. What are their options? Option #1 :  the Seller fixes the problem, prior to closing. Here are the related steps: Buyer and Seller negotiate an Amendment to the Purchase Agreement describing the work to be done — typically, by a licensed contractor — and further providing that, post-completion, the Buyer is to receive copies of the related invoice showing that it was paid in full.  If the issue requires a re-test — for example, radon remediation — Seller is to provide Buyer with documentation that the re-test results are satisfactory. [Optional]:  The Buyer checks out the reputation (or tries to) of the contractor hired by the Seller; The Buyer reviews the work performed, often as part of the walk-thru inspection just before closing.  If there are any issues regardin...

The housing market continues to operate in a very lean environment.  Home builders are building but are focusing their efforts on multi-family units to cater to a growing renting population.  Builders are also shy about placing big bets given the recent memory of the previous housing bubble.  Places where they can build freely like Arizona, […] from RSSMix.com Mix ID 8230700 http://ift.tt/2GqFxyW via IFTTT

On this week’s episode of the InvestFourMore Podcast, I speak with Stephane De Baets, who has created the first single-property REIT in the United States: Aspen REIT. Stephane has a ton of experience with large commercial projects in Europe, Asia, and the United States. His company bought a resort in Aspen Colorado, refurbished it, and now they are offering it as an REIT (Real Estate Investment Trust). On the show, we talk about how Stephane became so successful in real estate, why he started this REIT, and how it works. Click the green button below to listen to the podcast The post Podcast 136: The First Single-Property REIT in the United States with Stephane De Baets appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2F6mV5N via IFTTT

The ARV (after repaired value) on a house is one of the most important things to know when flipping houses. It is also one of the most important things to know when buying rentals or wholesaling properties. Many real estate investors have a really hard time determining the values on properties and rely on real estate agents or others to figure that out for them. As a real estate investor, you need to be able to determine the ARV yourself without having to rely on others. It is fine to confirm your values, but relying solely on another person is The post How Do You Determine the ARV (After Repaired Value) on a House? appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2rt5Pgt via IFTTT

Jordan Goodman is often called the money-answers man. He has been giving advice on money for decades after starting his own newspaper and working for Money magazine for 18 years. Jordan has been on just about every major network and many national radio shows talking about money as well. On today’s episode of the InvestFourMore Real Estate Podcast, I talk to Jordan about money and real estate. He has many great ideas and simple things people can do to save money, pay off their mortgage faster, or invest better with real estate. Click on the green button below to listen The post Podcast 135: Real Estate Money Questions Answered by Jordan Goodman appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2DSmZXl via IFTTT

On this week’s episode of the InvestFourMore Podcast, I speak with Stephane De Baets, who has created the first single-property REIT in the United States: Aspen REIT. Stephane has a ton of experience with large commercial projects in Europe, Asia, and the United States. His company bought a resort in Aspen Colorado, refurbished it, and now they are offering it as an REIT (Real Estate Investment Trust). On the show, we talk about how Stephane became so successful in real estate, why he started this REIT, and how it works. Click the green button below to listen to the podcast The post Podcast 136: The First Single-Property REIT in the United States with Stephane De Baets appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2F6mV5N via IFTTT

The ARV (after repaired value) on a house is one of the most important things to know when flipping houses. It is also one of the most important things to know when buying rentals or wholesaling properties. Many real estate investors have a really hard time determining the values on properties and rely on real estate agents or others to figure that out for them. As a real estate investor, you need to be able to determine the ARV yourself without having to rely on others. It is fine to confirm your values, but relying solely on another person is The post How Do You Determine the ARV (After Repaired Value) on a House? appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2rt5Pgt via IFTTT

Jordan Goodman is often called the money-answers man. He has been giving advice on money for decades after starting his own newspaper and working for Money magazine for 18 years. Jordan has been on just about every major network and many national radio shows talking about money as well. On today’s episode of the InvestFourMore Real Estate Podcast, I talk to Jordan about money and real estate. He has many great ideas and simple things people can do to save money, pay off their mortgage faster, or invest better with real estate. Click on the green button below to listen The post Podcast 135: Real Estate Money Questions Answered by Jordan Goodman appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2DSmZXl via IFTTT

On this week’s episode of the InvestFourMore Podcast, I speak with Stephane De Baets, who has created the first single-property REIT in the United States: Aspen REIT. Stephane has a ton of experience with large commercial projects in Europe, Asia, and the United States. His company bought a resort in Aspen Colorado, refurbished it, and now they are offering it as an REIT (Real Estate Investment Trust). On the show, we talk about how Stephane became so successful in real estate, why he started this REIT, and how it works. Click the green button below to listen to the podcast The post Podcast 136: The First Single-Property REIT in the United States with Stephane De Baets appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2F6mV5N via IFTTT

What Do California Brokers Call an “Office Administrator?” In the course of visiting (and occasionally working at) other Berkshire offices around the country, it’s interesting to note differences in culture, office layouts, and sometimes even vocabulary. Exhibit A:  in the Midwest, the (very) key person whose job it is to make sure Brokers’ day-to-day operations run smoothly — and generally backstop the Office Manager — is known as the “Office Administrator.” In California? They’re known as the “AC,” for “Agent Concierge.” P.S.: Edina Realty – City Lakes’ OA is the super-capable April Frahm. from RSSMix.com Mix ID 8230700 http://ift.tt/2DzBUZI via IFTTT

No 2nd Chance to Make a 1st Impression It’s always a judgment call whether to go ahead with a scheduled “Broker open” — held for fellow Twin Cities Realtors from 11 a.m. to 1 p.m each Tuesday — when winter weather intrudes (the Twin Cities is digging out from a fresh 8″ since noon yesterday). On the plus side, the marketing materials have already been distributed, the listing agent has already blocked out the time, etc. On the minus side, turnout is likely to be sub-par, and the homeowner may (or may not) have a had a chance to clear their walkway, steps, sidewalk, etc. The tiebreaker? If the Edina Realty branches have cancelled or delayed their weekly meeting — as many (including City Lakes) have today — I usually opt to scrub, and reschedule for the next Tuesday. P.S.:  At least anecdotally, I’ve always heard that U-Haul rentals leaving Minnesota don’t peak in the depths of winter, when you might expect. Rather, they peak in March-April, when the meeker amongst us de...

The First Second to Know Want to know who just got a plum, new job out-of-town? Is about to lose their current one? Getting divorced? Just had a financial windfall? Or, for that matter, any number of other highly personal news? Ask their Realtor . Loose Lips Sink  . . . Realtors Except, of course, that a good Realtor will never tell you. In addition to knowing how to price, stage, market, negotiate, draft contracts, and — at least occasionally — handhold , there’s one other quality that’s indispensable to being a good Realtor: Knowing how to keep a secret . P.S.:  And no, there’s nothing analogous in real estate to “attorney-client privilege” — that is, a court-recognized proscription against revealing information that a client shares with their agent. But a Realtor with any common sense who wants a thriving practice, hardly needs to be told to keep any sensitive client information confidential — not just the st...

Snow Day!! ( . . . and Night??) Professional photographers can digitally compensate for many weather conditions, less-than-ideal light, etc. But, near-white out conditions are the exception. Which is why my scheduled photo shoot near Cedar Lake this afternoon is a scrub. Ditto, apparently, for many Twin Cities schools today, virtually all local after-school activities, and even tomorrow’s weekly Edina Realty – City Lakes meeting (rescheduled from the usual 9 a.m. until after tour at 1:30 p.m.). The current forecast is for up to 10″ in the metro . . . See also , “Mail Carriers vs. Real Estate Photographers “; and “How Much is a Blue Sky Worth? “ from RSSMix.com Mix ID 8230700 http://ift.tt/2DycAmI via IFTTT

The ARV (after repaired value) on a house is one of the most important things to know when flipping houses. It is also one of the most important things to know when buying rentals or wholesaling properties. Many real estate investors have a really hard time determining the values on properties and rely on real estate agents or others to figure that out for them. As a real estate investor, you need to be able to determine the ARV yourself without having to rely on others. It is fine to confirm your values, but relying solely on another person is The post How Do You Determine the ARV (After Repaired Value) on a House? appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2rt5Pgt via IFTTT

Multi-Billon Dollar “Bug Bounty” “You know what a ‘bug bounty’ is? Someone says, ‘If you hack my system, I’ll give you a million dollars.’ So Bitcoin is now a nine-year-old multibillion-dollar bug bounty, and no one’s hacked it. It feels like pretty good proof.” –Chris Dixon, general partner at venture capital firm Andreessen Horowitz; “ Beyond the Bitcoin Bubble ,” The New York Times (1/16/2018). Just because something hasn’t happened yet, doesn’t mean that it can’t. Or won’t . Investors in the 1920’s watched stocks levitate so long that Yale economist Irving Fisher felt compelled to proclaim, “Stock prices have reached what looks like a permanently high plateau.” That, in early October, 1929. History is replete with other examples of tragically misplaced faith, including the supposedly unsinkable Titanic; France’s impervious-to-attack Maginot Line; and that “hotel in the sky,” the Hindenburg. Bitcoin’s Achilles Heel: Open Architecture But it’s the digital, not ana...

Gargantuan State + Local Tax Incentives = Pyrrhic Victory for “Winning” Bidder “Amazon Narrows Down List for HQ2 to 20 Cities” — Headline , Bloomberg.com (1/18/2018). Anyone hearing the news that Amazon had “narrowed” the list of contenders down to 20 cities might properly comment, “Good Lord! How many cities were on the original list??” (answer: 238). While I don’t doubt the wisdom of such an approach if you’re Jeff Bezos, it’s a good bet none of the competing cities feel likewise. That’s because, with such stiff competition, you’d expect the winning bidder to throw fiscal caution to the wind, and seal the deal with a truly historic tax giveaway. Housing Market Déjà Vu It all sort of reminds me of the housing market, post-bust, when banks dumping foreclosures would preside over feeding frenzies often involving dozens of Buyers. The banks’ preferred M.O.:  dangle an artificially low price in front of Buyers; announce a deadline for “high...

Craving “Clean Car Absolution” In Colorado — especially in mountain towns, in the Summer — a filthy car (ideally, a 4-wheeler carrying bikes or even a kayak or two) is a badge of honor, if not a sign of virtue. It tells the world that the occupant is an outdoor enthusiast, a risk-taker, an adventurer. In Minnesota, a filthy car — typically in Winter, after a thaw — sends a slightly different message. Namely, “I’m too busy — or indifferent — to get my car washed.” Scandinavian Roots In truth, in Scandinavian-friendly Minnesota (stoic, rule-abiding, etc.), a filthy car is often an irritant and source of consternation to their (too) tidy owners. How else do you explain the epic lines for car washes locally the last few days? Near my house near Lake Calhoun, at one point yesterday I calculated the line-up of 20+ cars translated into a 90 minute wait. Sorry , I don’t have that many emails to return or calls to make. And, with more than 6 inches of snow foreca...

  “Subject to” . .  “Statutory” . .  . “Cancellation” . . . Huh?!? [ Editor’s Note :  In addition to “statutory cancellation,” there is another legal status called “subject to statutory Rescission.”  At least in Minnesota, purchasers of condo’s and townhomes have a 10 day right to rescind while they review the related Association disclosures.   While that 10-day period is running, the convention is to disclose on MLS that “An Offer Has Been Accepted Upon:  Subject to Statutory Rescission.”] Once in awhile, Buyers will encounter a home that can only be sold “subject to statutory cancellation.” What does that mean? The home in question has been the subject of a first deal that went south, and the Buyer and the Seller are now fighting over the earnest money. You know that because one of the parties refused to sign a “Cancellation of Purchase Agreement,” which allows the Buyer to make offers on other properties, and fo...

Jordan Goodman is often called the money-answers man. He has been giving advice on money for decades after starting his own newspaper and working for Money magazine for 18 years. Jordan has been on just about every major network and many national radio shows talking about money as well. On today’s episode of the InvestFourMore Real Estate Podcast, I talk to Jordan about money and real estate. He has many great ideas and simple things people can do to save money, pay off their mortgage faster, or invest better with real estate. Click on the green button below to listen The post Podcast 135: Real Estate Money Questions Answered by Jordan Goodman appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2DSmZXl via IFTTT

People strive to be rich and wealthy, but what might be more important is financial freedom. To me, financial freedom means being able to do whatever you want, whenever you want. I haven’t quite reached financial freedom yet, mostly because I have some very expensive tastes like exotic cars. Financial freedom means something different to everyone because everyone has different expenses, hobbies, responsibilities, and desires. To achieve financial freedom, you must know how much money you need every month to live the way you want to live. It could be $5,000, $20,000, or $100,000 depending on what you want to The post How to Achieve Financial Freedom appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2DDfOSZ via IFTTT

Purple Caps, Purple Jerseys, Purple Clipboards (Huh?!?) It’s hard to miss all the purple attire (the Minnesota Vikings’ team color) on display locally in advance of the NFC Championship game this Sunday in Philadelphia — and the Super Bowl here two weeks later. Still, I thought swapping out regular clipboards for purple ones at Park Nicollet (where my wife is a physical therapist) might be just a bit much. According to my wife, that’s not a nod to the Vikings and Super Bowl 52 — apparently, Park Nicollet’s long-time corporate color is also purple. See also , “The Last 3 Minutes of the Viking-Saints Game in 4 Texts .” from RSSMix.com Mix ID 8230700 http://ift.tt/2DlF92E via IFTTT

Jordan Goodman is often called the money-answers man. He has been giving advice on money for decades after starting his own newspaper and working for Money magazine for 18 years. Jordan has been on just about every major network and many national radio shows talking about money as well. On today’s episode of the InvestFourMore Real Estate Podcast, I talk to Jordan about money and real estate. He has many great ideas and simple things people can do to save money, pay off their mortgage faster, or invest better with real estate. Click on the green button below to listen The post Podcast 135: Real Estate Money Questions Answered by Jordan Goodman appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2DSmZXl via IFTTT

Listing Agents Who Call the Buyer’s Lender As a Buyer’s agent, how can you tell if the listing agent (representing the Seller) is taking your client’s offer seriously? They call the Buyer’s lender — specifically, the lender on the Buyer’s Pre-Approval letter — and verify key information. Like, whether they’ve previously worked with the Buyer; the type of loan being applied for (conventional, FHA, etc.); and any other circumstances likely to affect that Buyer’s creditworthiness — and therefore their odds of getting a mortgage. Qualifying the Buyer — and the Buyer’s Lender When I’m the listing agent, I also like to vet the lender , their institution (if it’s not a “name brand” like Wells Fargo or U.S. Bank), and generally get a feel for whether they know what they’re doing. As I tell my selling clients, when I receive an offer, before I call them, my first call is to the Buyer’s lender. P.S.:  A good omen is when you reach the lender on their cell, first time. On a wee...

Bitcoin vs. Abstract of Title Mystified by Bitcoin and the technology that undergirds it — something called “blockchain computing?” It’s just a digital version of the millennia-old, “analog” system used to track real property ownership rights. Called an “abstract of title,” it’s a cumulative listing of all the previous owners of a particular parcel of land, and the dwelling(s) on it. By contrast, “Torrens,” the more modern evidence of real property ownership, dispenses with the cumulative history, and simply shows the current owner. Simple, huh? from RSSMix.com Mix ID 8230700 http://ift.tt/2DfrABV via IFTTT

Each webinar will cover one essential aspect of your real estate business, and show you how to use RPR data and reports to realize the full potential of every transaction. You’ll hear from REALTORS® who have successfully used the app to lead clients to the closing table, as well as pick up strategies for working smarter in the new year. from RSSMix.com Mix ID 8230700 http://ift.tt/2DqGuGq via IFTTT

Each webinar will cover one essential aspect of your real estate business, and show you how to use RPR data and reports to realize the full potential of every transaction. You’ll hear from REALTORS® who have successfully used the app to lead clients to the closing table, as well as pick up strategies for working smarter in the new year. from RSSMix.com Mix ID 8230700 http://ift.tt/2AU7n2t via IFTTT

People strive to be rich and wealthy, but what might be more important is financial freedom. To me, financial freedom means being able to do whatever you want, whenever you want. I haven’t quite reached financial freedom yet, mostly because I have some very expensive tastes like exotic cars. Financial freedom means something different to everyone because everyone has different expenses, hobbies, responsibilities, and desires. To achieve financial freedom, you must know how much money you need every month to live the way you want to live. It could be $5,000, $20,000, or $100,000 depending on what you want to The post How to Achieve Financial Freedom appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2DDfOSZ via IFTTT

Every year, I write at least one post and do a podcast about my goals for the upcoming year. I also talk about my previews goals and how things went in the previous year. This episode of the InvestFourMore Podcast is all about goals, with details on my business. I had a lot of goals for my real estate team, house flipping, rentals, my blog, and my personal life in 2017. I accomplished some of those goals, did not accomplish others, and had some surprises as well. In 2018, I want to build on 2017, change a few goals, change The post Podcast 134: My Goals and Plans for 2018 appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2D8npf1 via IFTTT

Square Pegs into Round Irregular Holes The input field on MLS for room sizes asks for two numbers:  the room’s width and its length. Which works great if a room is rectangular. But what if it’s not? If the room has a dormer, is L-shaped, curved, or otherwise defies a standard “width x length” measurement, it’s a bit more challenging. Squaring the Circle I don’t know about other Realtors, but my usual way of dealing with such a room consists of three steps:  1) break the room up into “constituent” rectangles that capture its dimensions; 2) total up the square footage of said rectangles; and 3) convert that into a width and length that equal the same square feet. Is that kosher? Put it this way:  I’ve never had an issue in 14 years representing Sellers (Buyers, too). Plausibility Test In practice, my experience has been that if a home’s square feet and room dimensions seem plausible (if not conservative), Buyers are fine with it. And if the stats do not s...

The First Second to Know Want to know who just got a plum, new job out-of-town? Is about to lose their current one? Getting divorced? Just had a financial windfall? Or, for that matter, any number of other highly personal news? Ask their Realtor . Loose Lips Sink  . . . Realtors Except, of course, that a good Realtor will never tell you. In addition to knowing the local housing inventory, knowing how to market, negotiate, etc. there’s one other quality that’s indispensable to being a good Realtor: Knowing how to keep a secret . P.S.:  And no, there’s nothing analogous in real estate to “attorney-client privilege” — that is, a court-recognized proscription against revealing information that a client shares with their agent. But a Realtor with any common sense who wants a thriving practice, hardly needs to be told to keep any sensitive client information confidential — not just the standard “price, terms, and ...

People strive to be rich and wealthy, but what might be more important is financial freedom. To me, financial freedom means being able to do whatever you want, whenever you want. I haven’t quite reached financial freedom yet, mostly because I have some very expensive tastes like exotic cars. Financial freedom means something different to everyone because everyone has different expenses, hobbies, responsibilities, and desires. To achieve financial freedom, you must know how much money you need every month to live the way you want to live. It could be $5,000, $20,000, or $100,000 depending on what you want to The post How to Achieve Financial Freedom appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2DDfOSZ via IFTTT

This Offer is Only Valid Until Noon, January 16” [ Editor’s Note :  The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced.  If you need legal advice, please consult an attorney.] At least in Minnesota, where I sell real estate, deadlines are incorporated into Purchase Agreements, Counter Offers, and other binding contracts much less than you might expect. I think there are three reasons for that. One . They’re unnecessary. Until the other side accepts in writing , the other party may retract whatever it is they’ve proposed. At any time. So, just to pick a not-so-hypothetical, if the Seller is  v-e-r-y slow to respond to the Buyer’s offer, the Buyer can simply withdraw it (and presumably, pursue another property). Two .  Deadlines can backfire. What does an aggressive, savvy listing agent do when they get an offer that expires in 24 hours — especially if...

The “Minnesota Miracle” (Actually, Miracle #2) No , I wasn’t lucky enough to be at U.S. Bank Stadium for yesterday’s thrilling win. But, my 18 year-old son, Jordan, was. We traded these texts as the game furiously see-sawed the last three minutes (I was watching on TV at home): Me:   #$@!%!  (New Orleans scores touchdown to go ahead). Jordan : !!!!! (Vikings kick field goal to re-take lead). Me : #$@!%! (New Orleans kicks field goal to go ahead). Jordan : “WOW!!” (Vikings touchdown pass to win game as time expires). Stefon Diggs’ improbable, game-winning touchdown catch has already been dubbed “The Minnesota Miracle.” Of course, if you’re old enough (I am), the original “Minnesota Miracle” referred to then-Governor Wendy Anderson revamping the state’s education system in the ’70’s. from RSSMix.com Mix ID 8230700 http://ift.tt/2DkOF9k via IFTTT

Bracing For “Super Bowl Stupor” in the Twin Cities Especially if the Minnesota Vikings are in the Super Bowl — held in Minneapolis February 4 — it’s practically guaranteed that little else will happen here the week or so before (and if they should win, the week after!  ). Which begs the question:  should Twin Cities home sellers who are teed up to go list their homes now, or wait until after the Super Bowl? For the most part, I agree with the consensus amongst my colleagues, which seems to be to list now**. However, I’d recommend switching to “TNAS” (“Temporarily Not Available for Showing”) once Super Bowl Stupor kicks in in earnest. **Main advantage:  less competition from later-this Spring listings. from RSSMix.com Mix ID 8230700 http://ift.tt/2r49X6t via IFTTT

The showing by Ross Kaplan (612-926-8005) ( rosskaplan@edinarealty.com) at 2725 France Ave S, Minneapolis, MN 55416 (KeyBox# 32172172) began 01/12/2018 9:17AM –email sent automatically by electronic lockbox. What’s the best way for a listing agent (representing a Seller) to ensure that they’ll connect with the appraiser sent out by the Buyer’s lender? Note: to listing agents (and their clients!): you want that to happen, for a host of reasons.** The listing agent can always leave a packet of materials for the Appraiser, including an updated Comparative Market Analysis (“CMA”), in the home. However, that doesn’t guarantee that the Appraiser will review the listing agent’s analysis carefully, or fully appreciate their key points. Another strategy is to email the materials to the Appraiser in advance. Also OK, but subject to the All of which is why personally meeting the Appraiser is preferable. In-Person Meeting The catch is, Appraisal appointments can be made last-minute,...

Each webinar will cover one essential aspect of your real estate business, and show you how to use RPR data and reports to realize the full potential of every transaction. You’ll hear from REALTORS® who have successfully used the app to lead clients to the closing table, as well as pick up strategies for working smarter in the new year. from RSSMix.com Mix ID 8230700 http://ift.tt/2DqGuGq via IFTTT

Each webinar will cover one essential aspect of your real estate business, and show you how to use RPR data and reports to realize the full potential of every transaction. You’ll hear from REALTORS® who have successfully used the app to lead clients to the closing table, as well as pick up strategies for working smarter in the new year. from RSSMix.com Mix ID 8230700 http://ift.tt/2AU7n2t via IFTTT

In the last 15 years, the “golden age of consumerism” has ushered in unprecedented access to real estate data, empowering homebuyers and sellers to potentially or partially manage their experience, yet the perceived value of working with a REALTOR® has skyrocketed. Why and how? from RSSMix.com Mix ID 8230700 http://ift.tt/2FoWvgy via IFTTT

Realtor Showings, Previews, and “Quasi-Showings” A Realtor showing is straightforward: it’s when an agent privately takes their client through a “For Sale” property. Just the Realtor and client (no homeowner), usually for an hour — much less, if it’s a “pass” for the client. Similarly, a public open house is self-explanatory: it’s when agents throw open the doors to all comers, typically for two hours on a weekend afternoon. So, what’s an “ open house showing?” (my term). It’s when a Buyer’s agent meets their client at a Realtor open house. Win-Win; Substitution Effect As a listing (and open house hosting) agent, I like such quasi-showings, because represented Buyers are invariably pre-qualified, more motivated, etc. Too, the more traffic at an open house, the better: serious Buyers don’t know that the other people checking out the house may only be neighbors, are months (or years) away from buying, etc. So, what’s the advantage of an “open house showing” for Buyers? (especi...

Coming Soon Near Lake Calhoun: Two New Towers or One? “Bader Development of St. Louis Park wants to build two 22-story apartment towers near Lake Calhoun on the western edge of Minneapolis, the largest residential project proposed in the city in years. In documents made public by Minneapolis city planners on Friday, [Bader said it] envisions a makeover of a 4.5-acre property that is the site of the 65-year-old, 21-story Calhoun Tower apartments.” –“ In massive project, developer proposes two 22-story apartment towers near Lake Calhoun” ; Star Tribune (1/5/2018). Does the news story above sound familiar? To readers of this blog, it does. Consider the following: “Purchased last December by Bader Development, Calhoun Towers is getting a top-to-bottom renovation. First up:  5 just-completed units in the now-subdivided penthouse that rent for $5,200 – $6,500 a month. Slated for later 2018:  a new tower on the north side of the two acre parcel, where there’s now a...

Every year I write at least one post and do a podcast about my goals for the upcoming year. I also talk about my previews goals and how things went in the prior year. This episode of the InvestFourMore Podcast is all about goals with details on my business. I had a lot of goals for my real estate team, house flipping, rentals, my blog, and my personal life in 2017. I accomplished some of those goals, did not accomplish others, and had some surprises as well. In 2018 I want to build on 2017, change a few goals, change The post Podcast 134 My Goals and Plans for 2018 appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2D8npf1 via IFTTT

Each webinar will cover one essential aspect of your real estate business, and show you how to use RPR data and reports to realize the full potential of every transaction. You’ll hear from REALTORS® who have successfully used the app to lead clients to the closing table, as well as pick up strategies for working smarter in the new year. from RSSMix.com Mix ID 8230700 http://ift.tt/2AU7n2t via IFTTT

Realtor Showings, Previews, and “Quasi-Showings” A Realtor showing is straightforward: it’s when an agent privately takes their client through a “For Sale” property. Just the Realtor and client (no homeowner), usually for an hour — much less, if it’s a “pass” for the client. Similarly, a public open house is self-explanatory: it’s when agents throw open the doors to all comers, typically for two hours on a weekend afternoon. So, what’s an “ open house showing?” (my term). It’s when a Buyer’s agent meets their client at a Realtor open house. Win-Win; Substitution Effect As a listing (and open house hosting) agent, I like such quasi-showings, because represented Buyers are invariably pre-qualified, more motivated, etc. Too, the more traffic at an open house, the better: serious Buyers don’t know that the other people checking out the house may only be neighbors, are months (or years) away from buying, etc. So, what’s the advantage of an “open house showing” for Buyers? (especi...

Coming Soon Near Lake Calhoun: Two New Towers or One? “Bader Development of St. Louis Park wants to build two 22-story apartment towers near Lake Calhoun on the western edge of Minneapolis, the largest residential project proposed in the city in years. In documents made public by Minneapolis city planners on Friday, [Bader said it] envisions a makeover of a 4.5-acre property that is the site of the 65-year-old, 21-story Calhoun Tower apartments.” –“ In massive project, developer proposes two 22-story apartment towers near Lake Calhoun” ; Star Tribune (1/5/2018). Does the news story above sound familiar? To readers of this blog, it does. Consider the following: “Purchased last December by Bader Development, Calhoun Towers is getting a top-to-bottom renovation. First up:  5 just-completed units in the now-subdivided penthouse that rent for $5,200 – $6,500 a month. Slated for later 2018:  a new tower on the north side of the two acre parcel, where there’s now a...

“Everyday Savings,” Indeed You could be excused for thinking, at least momentarily, that “Whole Foods + Amazon” had aggressively cut prices on salmon. After all, Jeff Bezos (“your margin is my profit”) had already slashed prices on ground beef, fresh turkey, avocadoes, and a few other loss (?) leaders. Math Machinations Alas, it was not to be. The sign’s fine print indicated that $4.99 was the price for a measly  six ounces. Do the math, and that’s $13.31 per pound. Costco ain’t going out of business yet . . . P.S.: If Amazon decides this form of, shall we say, slippery advertising works, look for these knock-offs: “Cherry Pie $4 (a slice)” “Gas $1 (per quart)” “Fly Minneapolis – Chicago for $49! (every 100 miles)” from RSSMix.com Mix ID 8230700 http://ift.tt/2CHess3 via IFTTT

I flipped 26 houses last year, which was just short of my goal of 30. I also bought 4 rental properties in a very hot real estate market in Colorado. Many people are worried that the real estate market will crash because prices have risen so much in many areas of the country. Many real estate investors went bankrupt in the last housing market crash, and there will be real estate investors who go bankrupt if the market crashes again. If housing prices drop, that does not mean all real estate investors will lose everything. Investors can do many things The post How to Protect Yourself from a Real Estate Crash appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2CU0Pqy via IFTTT

On my first podcast of the new year, Devin Elder is my guest. Devin has done a lot in real estate and is expanding his business more every year. He started out as a rental property owner, moved into flipping houses and wholesaling some deals, and now he is focusing on investing in multifamily properties. Devin has recently bought a 75- and 192-unit apartment building and is looking to buy more. You can hear him discuss his real estate career on this podcast. Click on the green button below to listen to the podcast How did Devin get started in The post Podcast 133: Flipper, Wholesaler, Landlord, and Multifamily Investor Devin Elder appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2CGlHAJ via IFTTT

In the last 15 years, the “golden age of consumerism” has ushered in unprecedented access to real estate data, empowering homebuyers and sellers to potentially or partially manage their experience, yet the perceived value of working with a REALTOR® has skyrocketed. Why and how? from RSSMix.com Mix ID 8230700 http://ift.tt/2FoWvgy via IFTTT

Realtor Showings, Previews, and “Quasi-Showings” A Realtor showing is straightforward: it’s when an agent privately takes their client through a “For Sale” property. Just the Realtor and client (no homeowner), usually for an hour (much less, if it’s a “pass” for the client). Similarly, a public open house is self-explanatory: it’s when agents throw open the doors to (almost) all comers, typically for two hours on a weekend afternoon. So, what’s an “ open house showing?” (my term). It’s when a Buyer’s agent meets their client at a (public) weekend open house. Win-Win; Substitution Effect As a listing (and open house hosting) agent, I like such quasi-showings because such Buyers are invariably pre-qualified and more serious. Too, the more traffic at an open house, the better: serious Buyers don’t know that the other people checking out the house may only be neighbors, are months (or years) away from buying, etc. So, what’s the advantage of an “open house showing” for Buyers? (...

With the rent being too damn high, many Americans are now opting to live with a roommate (or two or three in the case of San Francisco and Los Angeles).  We now have a record number of adult Americans living with roommates.  This coincides with a stagnant growth in the homeownership rate especially in crap […] from RSSMix.com Mix ID 8230700 http://ift.tt/2FfNLZV via IFTTT

The Canadian housing market is entering into a “housing correction” courtesy of the mega debt our neighbors to the north have taken on.  The bubble grew and grew and like most real estate bubbles, they can go on for years beyond what most would expect.  Canada’s housing market is deep in a bubble.  You have […] from RSSMix.com Mix ID 8230700 http://ift.tt/2lHp2Wr via IFTTT

With the rent being too damn high, many Americans are now opting to live with a roommate (or two or three in the case of San Francisco and Los Angeles).  We now have a record number of adult Americans living with roommates.  This coincides with a stagnant growth in the homeownership rate especially in crap […] from RSSMix.com Mix ID 8230700 http://ift.tt/2FfNLZV via IFTTT

I flipped 26 houses last year, which was just short of my goal of 30. I also bought 4 rental properties in a very hot real estate market in Colorado. Many people are worried that the real estate market will crash because prices have risen so much in many areas of the country. Many real estate investors went bankrupt in the last housing market crash, and there will be real estate investors who go bankrupt if the market crashes again. If housing prices drop, that does not mean all real estate investors will lose everything. Investors can do many things The post How to Protect Yourself from a Real Estate Crash appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2CU0Pqy via IFTTT

On my first podcast of the new year, Devin Elder is my guest. Devin has done a lot in real estate and is expanding his business more every year. He started out as a rental property owner, moved into flipping houses and wholesaling some deals, and now he is focusing on investing in multifamily properties. Devin has recently bought a 75- and 192-unit apartment building and is looking to buy more. You can hear him discuss his real estate career on this podcast. Click on the green button below to listen to the podcast How did Devin get started in The post Podcast 133: Flipper, Wholesaler, Landlord, and Multifamily Investor Devin Elder appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2CGlHAJ via IFTTT

Every year, I write a post detailing my goals for the next year and reviewing how I did with the previous year’s goals. I have written articles over the last three years that included some huge goals. I achieved many of these goals, and many of them I did not. I actually am just fine not accomplishing all of my goals because that keeps me working hard throughout the year. The point of a goal is not to accomplish it but to get as much out of yourself as possible. If you make your goals too easy to accomplish, they The post My Goals for 2018 and a Recap of 2017 Goals and Accomplishments appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2lQaFiJ via IFTTT

Every year, I write a post detailing my goals for the next year and reviewing how I did with the previous year’s goals. I have written articles over the last three years that included some huge goals. I achieved many of these goals, and many of them I did not. I actually am just fine not accomplishing all of my goals because that keeps me working hard throughout the year. The point of a goal is not to accomplish it but to get as much out of yourself as possible. If you make your goals too easy to accomplish, they The post My Goals for 2018 and a Recap of 2017 Goals and Accomplishments appeared first on Invest Four More . from RSSMix.com Mix ID 8230700 http://ift.tt/2lQaFiJ via IFTTT

Coming Soon Near Lake Calhoun: Two New Towers or One? “Bader Development of St. Louis Park wants to build two 22-story apartment towers near Lake Calhoun on the western edge of Minneapolis, the largest residential project proposed in the city in years. In documents made public by Minneapolis city planners on Friday, [Bader said it] envisions a makeover of a 4.5-acre property that is the site of the 65-year-old, 21-story Calhoun Tower apartments.” –“ In massive project, developer proposes two 22-story apartment towers near Lake Calhoun” ; Star Tribune (1/5/2018). Does that news story above in the Star Trib sound familiar? To readers of this blog, it does. Consider the following: “Purchased last December by Bader Development, Calhoun Towers is getting a top-to-bottom renovation. First up:  5 just-completed units in the now-subdivided penthouse that rent for $5,200 – $6,500 a month. Slated for later 2018:  a new tower on the north side of the two acre parcel, w...