Posts Tagged ‘housing’

Thank You Councilman

February 3, 2017

The other day I saw a news story that frustrated me. I did not know the answer, just that I was frustrated. So, what do you do, Well I talk to my neighbors and friends. So I did. On social media. I know I know, read the story.

The story was about ice on the sidewalks blocking the paths of kids trying to get to school. Since it was in my city I shared it. When the Councilman saw it he immediately stated he had no idea it was so bad and asked that I report it to the special link the City had set up. I couldn’t figure out how to and told him so. He said he would take care of it.

I was frustrated because as a kid I walked to school all the time. Elementary school was 5 long blocks away. 5 streets to be crossed. The homeowners and shop keepers kept the paths totally cleared. If not; the neighborhood let them know which way was up. Sanitation workers would come by and clear the intersections with shovels so we could walk. I thought there was an ordinance here that said we had to do the same here. I was shocked to hear there is not.

After the Councilman said he would take care of it I said I was frustrated because I did not know what the answer is. Who should clean it and keep it clean. I understand the frustration after shoveling when the plow comes by and buries everything you just cleared. He replied “the answer is, it will be cleared by tonight.” Amazingly, it was. The crew sent did an awesome job.

That Councilman did a great job. He made a commitment after a bold public statement. He made it happen.

I thanked him on social media. I thought about thanking him in a handwritten note to the City Council. Not good enough I say, so I choose to publicly thank him here for stepping up when he saw a problem in our City and getting the job done.

THANK YOU COUNCILMAN CAVENER! Luke Cavener, Luke, I appreciate what you did that day. The crew worked late and hard because you helped make it happen. All the Best Richie Rich

Advertisements

An Investing Idea

November 15, 2016

I have a goal to own rental properties. Might be a good fit for me considering the business I am in. As a bonus I get to see many different business models for investing in housing. The other day I heard of one that I have not seen before.

I participate in a coaching program that offers more than just sales advice. We believe in a well rounded life that includes growth in 5 different areas. Spiritual, family, business, financial and personal are the 5 Circles we intertwine and balance. The founder of the company not only tells it like it is, he practices what he preaches. During the recession he liquidated $30,000,000 that’s 30 Million in real estate holdings to keep his business alive. He had one commercial building he left empty for a year. He was able to do this using an investment system that helped him succeed. Hmmm, he has captured my interest again.

So how’d he do it you say? I’ll tell ya. He would buy a property and hold it. He would not buy another property until he owed less than half on the property. Less than half! What about leverage, what about the great deal sitting in front of you. Nope he said, just wouldn’t do it no matter how badly it fried his backside. Considering he did not lose everything like others did I have to consider what he says quite seriously.

I am reminded of a call I received on day as the recession was beginning. The buyer wanted to buy million dollar properties for $500,000. I laughed and then asked why I would not buy them myself for that price. He said I could not buy them all. I loved that response. I can’t possibly buy every deal that comes to me. I only wish I could. There will always be another opportunity. So perhaps the 50% idea is not that farfetched as it sounds.

Some investors use a cash only model, some use the 20% down, some use 20% down that they borrow and many other models. I would prefer to be an all cash investor. Perhaps 20% down and then wait and be patient might be better. Hmm time to think. All the Best Richie Rich


%d bloggers like this: