Convention -Take Aways (by Ray-N-Pa [PA]) Jun 8, 2025 11:30 AM
Convention -Take Aways (by plenty [MO]) Jun 8, 2025 12:24 PM
Convention -Take Aways (by Tracey Younes [TX]) Jun 8, 2025 2:42 PM
Convention -Take Aways (by 6x6 [TN]) Jun 8, 2025 7:20 PM
Convention -Take Aways (by zero [IN]) Jun 10, 2025 7:10 AM
Convention -Take Aways (by Ray-N-Pa [PA]) Jun 10, 2025 7:45 AM
Convention -Take Aways (by zero [IN]) Jun 11, 2025 8:47 AM
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Convention -Take Aways (by Ray-N-Pa [PA]) Posted on: Jun 8, 2025 11:30 AM Message:
Of over the dozen speaker who were at this year's convention, the dozen's round tables held, panel discussions with the brightest minds in the business, and even allowing over 200 attendees solve any individual's biggest landlord problems, I wanted to share to share the single biggest lesson I heard from the collective group that really was never directly said.
Yes it is 2025, yes the market is in transition, yes governments have taken away some person property rights (in both red and blue states alike), indeed it is tough to find good employees, yes there are lots of bad candidates out there wanting your home..........that is the status of the market where you are at.
Yet we still do what we do. Every place need housing, there is a need for you where ever you are at. The problems and culture we all face are the same. Yet more than 200 people elected to invest in themselves, their family's, and their futures to spend a weekend sharpening up their own real estate market tool chest.
For the benefit of those who did not attend, we learned how to leverage control of house in no less than three different ways using little to no money down so just in case the market does go down in your specific, your losses would be limited. We learned a variety of techniques on how to reduce the stress of being a landlord and how to manage the stress induced by residents and applicants. We learned six ways to market our units in a manner that increases income by reducing vacancies, we learned how to reduce tax liabilities, tilt the balance of power away from banks and closer to you as an investor, In short, we learned how to run our businesses that much more effectively .
None attendees had other priorities. Life is like that. There is truly only so much time out there. Every one has only a five pound bag but is carrying 10 pounds of stuff. But at some point in your life, you need to ask yourself........
DO YOU WANT RESULTS OR DO YOU WANTS REASONS?
On any given day I can read this or other sites: oh I am in a blue state, there are no one qualified around me, I don't have the money to grow, there are no jobs around here, I can't find employees, the market timing is off, or any other of thousands of excuses. Being retired from the military, I ponder does it matter? Would it really matter if you had a tenant who wasn't paying you? If the answer is no - then ask yourself, why do you think your business is any different. Your business model might even not only be causing drama, but it might be training your residents as well.
One of the biggest lessons that instill as a lead instructor to my residents, is accountability and responsibility. A couple of words that my fellow veterans have learned well over the years. If I refuse to implement these same principles into my own actions, my business model is broken. For many folks out there - your model isn't running in the manner that makes them happy. I am sorry - but we can't really help you. I seriously doubt as part of next years convention that we are going to round a 200 person working party and move your property out of a blue state like say Washington state.
It was simply awesome having that 200 member team looking at business model and giving me positive and negative feed back in the hope that I can IMPLIMENT and improve. The value of that feedback is incredible and I grateful. You will not get this same type of environment from your local investment group as they are direct competitors of yours.
You will either succeed or you will fail at this business. The choice is yours and ONLY yours. Additionally, the level of success is strictly yours. If you think you can do this strictly by policing yourself, awesome. You are a much better person than just about everyone else. But if you are feeling pain somewhere or somehow, the path to personal, professional, and economic growth is in your own hands.
DO YOU WANT RESULTS OR DO YOU WANT REASONS? --67.140.xx.xxx |
Convention -Take Aways (by plenty [MO]) Posted on: Jun 8, 2025 12:24 PM Message:
Indeed! Don't be a victim, go for Victory! --172.56.xxx.xxx |
Convention -Take Aways (by Tracey Younes [TX]) Posted on: Jun 8, 2025 2:42 PM Message:
My take away from my first, Mr. landlord convention, although I’ve been using their products for over 15 years from their website, it’s one thing to be a landlord, and it’s another thing to be an intentional, good homeowner/landlord. After letting my husband take the lead in repairs and overseeing them (except for the administrative side)for the last 15 years, I had a rude awakening when he passed away unexpectedly last year on how much work he wasn’t able to get done. It overwhelmed him, in addition to having his own restaurant business, And I knew when we retired he didn’t want anything to do with being a landlord anymore. But I wish I would’ve asked more questions, and insisted on finding a contractor that could help us in keeping up with these properties better, because I was faced last year, immediately following his passing, with having to renovate two residential properties(including a new roof on one), and one large commercial restaurant space all within the same time. In addition to listing the restaurant for lease and finding my first ever NNN long term tenant situation (wow, what a learning curve). I decided then that I don’t want to be the landlord that doesn’t take care of the properties well enough, leading to more drama and stress for me. I want properties that give me and my residents peace of mind. Renovations are only the start, and I learned this week, how to train (or retrain) my residents how to be a part of the solution to helping keep their home in great shape, instead of the problem. I’m learning how to be a good landlord that cares about their residents, but sets boundaries so that there is less drama for everyone (and of course, more income!). My restaurant renovation is ongoing, and the drama in dealing with our city and new requirements and permits is very real, but I did it right by finding a 10 yr NNN lease type business tenant, because he is the one mainly having to deal with most of these expenses & issues, as the one given permission to do the renovations. As a couple of experienced contractors and investors have reminded me, it’s only money, and it’s part of the learning curve to gaining experience. Tomorrow it will not look as overwhelming. The other thing I was reminded of and learned about, is how to make my equity in my ownership of these properties start working for me as well…instead of it stagnantly sitting there and only settling for a rent check. Through teachings on Notes, Private Lending and Creative Deals, we can make 10-20-30% and more on our equity funds or cash, utilizing self directed Roth IRA and other tax strategies. Thanks to our expert speakers - and they want to point out, that, even if you’re not labeled as “the greatest speaker”, you can still be the greatest teacher, if your main concern is conveying to us the practical processes that you’ve learned along the way. We appreciate you just as much as any great speaker. Thanks for stepping in and taking the time to teach others. --72.133.xx.xxx |
Convention -Take Aways (by 6x6 [TN]) Posted on: Jun 8, 2025 7:20 PM Message:
Thank you, Ray. --73.19.xxx.xx |
Convention -Take Aways (by zero [IN]) Posted on: Jun 10, 2025 7:10 AM Message:
The convention did help to relight the fire in us.
Some of the speakers were dead on with what I needed. Some gave us insight that we weren't ready for. Even the ones that we had no interest in gave us something to consider.
By far tho, the best part of the convention was the interactions with the other people there.
I feel that I got more out of sitting down with other like minded people this year that any time in the past.
But I was more prepared in the sense that I knew a few of my weak points and sought out advice on the topics at hand. --107.147.xx.xx |
Convention -Take Aways (by Ray-N-Pa [PA]) Posted on: Jun 10, 2025 7:45 AM Message:
Amen zero.....
It is safe to say that in many locations the market, both rental and real estate, are in either flux or transition. So to ask a dozen people what are you doing to prepare or react to your market..........
Interestingly, absolutely none of them said wait for the real estate market to fall. They all see where they can make money in the market in hand instead of waiting two years for the appraisals to reflect the market. Most said, yes, a downturn is great to shop, but so is an upturn - but the best time was when the market was unstable.
So I had a takeaway in the form of diversification. I thought it meant having SFH, MFH, commercial and OGM all at the same time. That is indeed part of the total picture, but so is having multiple acquisition strategies because the ones that most everyone else is using are not getting properties to sign my PSA.
That twist with the upside-down house was awesome when you mix in the right of first refusal into the mix. Basically, if I can't buy this off of you today, I'll get the bite at the apple when you do decide to sell at the price that someone else is offering. That is control of a property without ownership
--98.17.xx.x |
Convention -Take Aways (by zero [IN]) Posted on: Jun 11, 2025 8:47 AM Message:
The upside down house story was interesting.
As long as you are above water while you wait it is a sure thing as nearly all RE goes up in value.
Sometimes, as Mr. Petty said, waiting is the hardest part. --107.147.xx.xx |
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