Wed 9 Aug 2006
I completely forgot to post the results of the Carnival of Real Estate this week! The results come out every Monday, and this week we thank Property Grunt for hosting, and for featuring one of our posts 
The carnival is a great resource for all sorts of fresh real estate commentary. Check it out!
Tue 8 Aug 2006
Today I made a decision to fire one of my property managers. Saying it out loud and typing it here is solidifying that it really will happen and boy do I feel liberated!
I’ve been having issues with his performance for a while now. I’ve tried to improve the situation, I’ve given him the benefit of the doubt a few times, I’ve used our “incidents” as training opportunities, but we’ve come to the final straw. I had someone take some digital pictures of the buildings that he is managing and that was it. We have weeds, or maybe small trees at this point, six feet tall. I’m not interested in any excuse whatsoever. These photos simply serve as low-hanging tangible proof of several other issues that cannot be visibly seen. Not that I need proof, or even a reason to fire him. He’s not an employee. We have a contract in which either of us has a 30-day out.
Yahoo! I can feel the life force particles coming back to me already!
Mon 7 Aug 2006
I’d like you to meet Natalie! 
You’ll be learning more about Natalie as she posts questions about her real estate investing activities on this blog. Let’s see what she’s up to today… (more…)
Sun 6 Aug 2006
I was watching Joel Osteen this morning and he was talking about controlling your moods. He was encouraging us to live our lives not based on our emotions, but to live based on what we know. He went on to say:
“When you begin to have negative or discouraging feelings, shake them off. Even when you do not feel like it, choose to rule over that negative feeling anyway. Tell yourself: I’m going to be steady, immovable, and full of joy regardless of my circumstances. The more you do so, the easier it will become. Today, decide to be a more stable person and begin enjoying life — all of it!”
Those of us in real estate investing know that things don’t always go our way. We’ll have our offers rejected, troubles with lending, and difficulty finding deals in the first place. This is a numbers game. If we keep our heads about us, we know that as long as we keep up with our education, and keep doing the things we need to do, the deals will come. (more…)
Sat 5 Aug 2006
I found this post over at Matrix about appraisals. While I agree completely that the appraisal industry is ridden with fraud and overinflated appraisals can cause huge issues, I have noticed a reversal in this in the Phoenix and Tucson markets as of late. Maybe others in other markets have seen it as well. My appraisers are finding every reason to make the value as low as possible, I gather to protect their butts.
I’ve been through several purchases and re-finances lately. The purchases have all been new-build so the appraisal on the buy is easy. The builder’s lender uses the same appraiser for every home in the community. The appraisals come out of the appraisal machine, one after the next, for the exact sales price. The appraiser already has record of all the floor plans, he has all the comps because he’s done all the appraisals. There’s very little work involved.
Re-fis are a whole nother story. I’ve been buying these new-builds and re-financing them a short time later. I have tried several different appraisers, partly because I am trying to figure out the game they are playing. I get a different theory every time as far what upgrades affect value, how close in proximity the comps need to be, and in new communities where there are no resales, where do they get the comps, etc. (more…)
Wed 2 Aug 2006
It’s funny, I received my Social Security statement in the mail and my husband received a $78 severence check from his employer of several years ago on the same day. Both incidents slapped me across the face with a thought, “Have a Plan B.” In this day and age it’s necessary more than ever before to have a Plan B. Sometimes Plan B becomes Plan A in the blink of an eye.
Even if you’re close to retirement and you’re almost assured to receive Social Security benefits, this is no plan. It won’t be enough to even scrape by. If you’re working at a job, you could lose it at any time. This is not as solid of a plan as it once was. My husband’s solid job of 16 years at a Fortune 100 company ended one day with a letter in the mail. The place folded. Everyone got letters. And since then, my sister lost her government job, that was union by the way, and my dad who’s worked 38 years (?) at a large company is now training his replacement by email. She lives in China. He’s been told to cooperate. And as my friend so eloquently stated the other night, a man is not a plan either! Or a woman! (more…)
Tue 1 Aug 2006
I received my Social Security statement in the mail and decided to do some math just for fun. Let’s look at the numbers the government has presented me with.
The assumptions:
My Social Security statement tells me that they average out my annual earnings over all of my employed years and they assume that I will earn that same average amount, and will contribute that same average amount to Social Security, until I reach 62. I’m not “working” or contributing to Social Security through a paycheck anymore so the numbers they give me are way high. I expect the true payout, if there will be one, to be a fraction of what they currently estimate. Actually, I expect no payout at all. (more…)