Monthly Archives: September 2013

September 30, 2013 · 8:45 am

It’s About People

This post isn’t going to concentrate on rental property management or buying the right investment property.  It’s going to focus on people.  Because isn’t that why we all work so hard for the money we make?  To take care of the people I love, that’s why I do work as hard as I do.

flood vicitims lyons co

This past week it was my honor to go with Samaritan’s Purse to Lyons, CO to help with the flood relief.  You can see the pictures on my facebook page.  The devastation was quite humbling but the spirit of the people there was quite powerful.  In addition to Samaritan’s Purse ( a Billy Graham Ministries inspiration) there were also secular volunteer groups there to help and help they did.

None of us know what tomorrow will bring.  We’re all working hard to provide and build our asset base.  But sometimes it is good to remember that it’s temporary and can be taken at any time.  People and relationships simply cannot be brushed aside to allow for more money and assets.  People and relationships can hold you together through a storm and strengthen your spirit after a storm.  Keep working hard towards your “Retirement worth having” but don’t forget who you hope will be there with you.  Because it won’t be any fun to be retired by yourself.

Leave a comment

Filed under Social Issues

September 25, 2013 · 8:30 pm

A Retirement Worth Having

Real estate investors, especially new ones, are constantly putting the proverbial cart before the horse.  Why are you picking investment strategies before you even know what the goal is?

A Retirement Worth Having is not about whether you are flipping or holding or selling notes.  It’s about a purposeful plan, as my friend on the west coast would say.  Seriously, I like to spend and hour to 90 minutes talking with my prospective clients finding out what their goals are, economically and lifestyle speaking, before I’ll even go out the door to show them a single possible rental property.  What’s the point, otherwise?  How can I match you with an income property that will help you to accomplish your Retirement Worth Having if I don’t even know what the cash flow or equity position will need to be?

Stop looking at possible rental houses until you know what you are trying to accomplish.  I’ve said this many times and I’m going to keep saying it.  Think about it.  It just makes sense.

Kansas City Investment Property
Chris Lengquist
Keller Williams Realty
Diamond Partners, Inc
Olathe, KS
913-568-1579

Leave a comment

Filed under Uncategorized

September 23, 2013 · 7:37 am

Rental Property Makes Money Four Different Ways

So you have been researching rental property and you are drowning in numbers.  Cap rates?  Cash on cash?  Internal Rates of Return?  Good grief.  What you need to know is that rental property makes money four different ways.

  1. Cash Flow Before Taxes
  2. Principal Reduction
  3. Tax Savings
  4. Appreciation

These four ways of making money with investment property are all intricately related.  For instance, the more cash flow the cash real estate investor goes for the more likely he’ll have little to any appreciation as compared to surrounding areas.  Likewise, the more appreciation a long term buy and hold investor goes for the less cash flow he’s like to accumulate (without a significant down payment) because these properties are usually in the nicer areas around town.

Sure, there are exceptions to the rule.  But what you need to decide as new investor (or experienced trying to re-start) is what the end goal is before beginning.

Give our team a call today to help you make a plan for a retirement worth having.

Real Estate Investing in Kansas City
Chris Lengquist
Keller Williams Realty
Diamond Partners, Inc
Olathe, KS
913-568-1579

3 Comments

Filed under 4 Benefits of Real Estate Investing

September 16, 2013 · 7:28 am

Housing Protection – Know Your Rights

There are seven protected classes when it comes to housing in the United States.  Not eight.   (More on “eight” in a minute.) But literally from the moment you sign up for real estate classes you are told about the seven protected classes.  Per HUD and a million other websites they are;

  • race
  • color
  • religion
  • national origin
  • sex
  • disability
  • familial status

Recently, as professional property managers, we have had to evict a couple people because despite trying to work with them they could  not or would not catch up on their rent.  And one of them was out of his lease and kind of a pain with so may phone calls (along with other issues) that we decided to move forward on the eviction.  Now this person has filed a racial complaint against us.

Never mind there is no basis in fact.  Never mind it’s not the way I choose to live my life, anyway.  (See this post from May of 2007.)  Never mind that we evict people of all kinds because they all have one thing in common that is not included in the seven (and here’s where we get to the eighth that so many tenants seem to think deserves to be in there) is that they don’t pay their rent on time or sometimes at all!

It is not your right, Mr. and/or Mrs. and/or Ms. Tenant, to live in somebody’s house without paying for the services.  Go ahead and check with HUD or your attorney or whomever you choose.  The eighth class you want, the one that says you can pay if and when you want, it not protected.

Leave a comment

Filed under Property Management, Social Issues