Real Estate Investing Blog

You know, Michelle & I have been managing tenants in our lease-option houses for a long time.  And I thought I knew “the ropes”.  That is, until I talked to our friend Mike B. 

I’m embarassed to admit this, but I’ve be letting scads of landlording money slip through my fingers.  Why, because I didn’t keep up with late fees, billing tenants for repairs, and when I had to take them to court, I made dumb landlord compromises I didn’t need to because I didn’t have the full history of the tenant in front of me.

Besides, I wasn’t billing the tenant every time I sent them a late notice or sent someone out to the house, etc.  Why? I know when I put it like this, it sounds like I’m just totally careless landlord.  But I’m not, it’s just that I get busy, want to get things handled and then don’t remember to put it in my quickbooks.  In fact up until recently I didn’t even know how to used quickbooks to bill a tenant–heck I didn’t even know I could.

Well, Mike created some templates I can just upload into quickbooks, and start using immediately.  He’s created most all the categories needed and I can create an entry with the push of a single button and create an invoice to be paid with another…and a lot more stuff also.  It is really totally awesome.

Bottomline–for the first time, I really feel in control of lease-option finances.  If you want to find out more about this stuff, just go to this link.

Like most of us, I hate doing the books–I’d rather just go out an make money.  The lesson learned here is that I can increase my net cashflow by 15-30%, just by using these templates–it’s easy and really a no brainer.

Richard Odessey, www.InvestorWealth.com

I got an email from Roy Roberts suggesting “two times and days” for our real estate investing teleconferences.  His suggestion was “Maybe you could [try] a 10a.m. EST, and maybe a 10 a.m. PST [Saturday].  You might actually [have more serious investors attending] on a saturday because a person needs to be more serious to listen to  it.  But now don’t stop the replays for those who sign up [for your Thursday evening calls], because I  know that I, for one, really benefit from this service.”

Well - here is my initial response.  We actually have had (one time) Saturday calls, and while the attendance roster is light on that day, it is SO True, that the ones who show up are definitely eager beavers and usually have tons of questions. 

For weekday evening calls - we have done two of them, usually 8:30p Eastern and then again at 8:30p Pacific.  The stats on that is, there are usually more people in attendance on that late call - and they are not necessarily all in California! 

What do you think? Do you prefer one call or two?  Do you prefer a weekday evening or Saturday? OR Do you prefer to listen (or watch in the case of video) the replays?  AND one more question, How do You Learn Best?

Best of Success!
Michelle

Welcome Everyone! Michelle Odessey here.

Well the InvestorWealth.com Real Estate Investing Blog begins here.  I will be writing about markets, tips, trends, best practices, successes, gotchas, AND How To’s on Marketing, Short Sales, Bankruptcy, Pre-Construction, Subject-To, Lease Options, Multi-Units, Commercial Property, Land Development, and Building Your Funding Network. 

I will include topics about leadership, the success mindset, goal setting, focusing your energy, your efforts, and your resources, developing strong business networks, and making it all work within an ACTIVE and joyful family life.

I ENCOURAGE YOU to enter responses, questions and comments.  Email me with questions and ask me to write about topics you want to know about.

Sometimes I will respond with an audio or even a video.  In fact, if you want to send me those too, I’ll include them and respond to those as well.

Well - Here we go!  Keep those cards, letters, emails, audios & videos coming.

Best of Success to You!
Michelle