I just came across a site and thought, this might be interesting. This site will tell you how many people have the same name as you in the U.S. "Well that would be weird for someone to have my name since it is so different," I thought. Little did I know that according to the U.S. Census Bureau, I don't even exist. But I can assure you, according to the IRS I do.
How many people have your name?
Wednesday, June 27, 2007
Wednesday, June 06, 2007
My Very First Rental Property
It's pretty exciting when you become a multiple homeowner for the first time. It can also be really scary too for first time investors that are investing in rental property. I remember when I bought my first rental home in Bartlesville, OK over 20 years ago. My wife and I were scared of how we were going to supplement the rent if it sat vacant, or what if we had a major repair?? How would we ever deal with that??
Well, I'm here to tell you that these feelings are all very common. I can be your coach, I can be your guide in this real estate jungle and I can also be your voice of reason if you are considering purchasing rental property. I have been investing in properties myself for the last 20+ years, and I also manage over 160 units, owned by other investors, here in Springfield. I can talk you thru the process and let you know what you can expect, I can help you with financing and most of all, I can be your REALTOR to purchase that home. Just contact me and we can chat about it or visit my web site at www.getpaul.com for more information.
By the way...it's not as scary as you think. :)
Thursday, January 18, 2007
I'm tired of Ice!
I love those hot summer days when I am sitting outside enjoying the warm air, the smell of the steak sizzling on the grill and that cold drink with lots of ice in my right hand; lots of ice please! But too much of a good thing can be a catastrophe.
As you have probably seen by now in our video podcast, we are in an ice storm. Everywhere you look there is ice. It is actually pretty to see it as the shrubs and trees take new shapes and the ice shimmers with many colors kind of like a prism. But that is only if you look closely, because if you look at what it has done to our area, it is devastating. It looks like a bomb has gone off right in the heart of the city.
When the storm hit, ice blanketed everything. It was interesting to watch at first, then as it started to accumulate the damage started to begin. The ice stuck to every kind of plant, shrub, and tree; oh the trees! Those beautiful wonderful trees just could not handle all of the weight and branches began to drop, one, two, then thousands upon thousands came crashing down. The sky continued to have blue flashes everywhere as the power transformers began to explode. All of the sudden, it was dark.
As you have probably seen by now in our video podcast, we are in an ice storm. Everywhere you look there is ice. It is actually pretty to see it as the shrubs and trees take new shapes and the ice shimmers with many colors kind of like a prism. But that is only if you look closely, because if you look at what it has done to our area, it is devastating. It looks like a bomb has gone off right in the heart of the city.
When the storm hit, ice blanketed everything. It was interesting to watch at first, then as it started to accumulate the damage started to begin. The ice stuck to every kind of plant, shrub, and tree; oh the trees! Those beautiful wonderful trees just could not handle all of the weight and branches began to drop, one, two, then thousands upon thousands came crashing down. The sky continued to have blue flashes everywhere as the power transformers began to explode. All of the sudden, it was dark.
Thousands of people, around 70,000 in Springfield alone were without power. No power, no heat. It will back come on I know it will, it always does! But this time, 8 days later and still thousands upon thousands are still sitting in the dark, cold, wary, and very irritable.
We are coming, I keep telling everyone; and we are as fast as my body will allow. I will not give up, I will not quit, and I will continue to take care of my owners and tenants alike. However, the tenant with the bedroom door that won't close just right is going to have to wait. Somehow I just don't think it is that big of a priority.
Monday, January 08, 2007
FIRE!
Well it finally happened. After 20 years of managing real estate investments, we had a fire. Not some little fire mind you, a real flame coming out of the roof kind of fire. One so hot that the heat from it melted the two cars in the driveway.
On January 5th about 5:30 am I get the emergency call all property managers fear. "Sir we have a fire." I immediately jumped out of bed, got dressed and out the door I ran. I called my office manager who also hurried to get to the home. Not knowing what to expect, it was an eerie site. As I approached the neighborhood, one could see the lights from the emergency vehicles at least a half mile away. There were 10 fire trucks, 2 ambulances, police cars, Fire Marshall, and 31 firemen. They were prepared. Truly a sight to see.
We are very blessed that no one was killed. Yes, killed. Within 90 seconds, that's right 1 1/2 minutes or less from having fatalities. If it was not for our hero of the day, Mike, this whole thing would be much different. You see, we always think of the damage the fire does, but often forget about the carbon monoxide that is emitted from the fire. Sometimes, people just don't wake up.
The home had smoke detectors, 4 of them actually, but the tenants took them apart rather than have to deal with that annoying beeping noise that tells us to change the battery. That little annoyance, almost cost these tenants there lives.
This experience teaches me how fragile life can be and to look for and appreciate every detail of my life, including the little things. Some times little annoyances can be big blessings in disguise, and I hope I never overlook them.
On January 5th about 5:30 am I get the emergency call all property managers fear. "Sir we have a fire." I immediately jumped out of bed, got dressed and out the door I ran. I called my office manager who also hurried to get to the home. Not knowing what to expect, it was an eerie site. As I approached the neighborhood, one could see the lights from the emergency vehicles at least a half mile away. There were 10 fire trucks, 2 ambulances, police cars, Fire Marshall, and 31 firemen. They were prepared. Truly a sight to see.
We are very blessed that no one was killed. Yes, killed. Within 90 seconds, that's right 1 1/2 minutes or less from having fatalities. If it was not for our hero of the day, Mike, this whole thing would be much different. You see, we always think of the damage the fire does, but often forget about the carbon monoxide that is emitted from the fire. Sometimes, people just don't wake up.
The home had smoke detectors, 4 of them actually, but the tenants took them apart rather than have to deal with that annoying beeping noise that tells us to change the battery. That little annoyance, almost cost these tenants there lives.
This experience teaches me how fragile life can be and to look for and appreciate every detail of my life, including the little things. Some times little annoyances can be big blessings in disguise, and I hope I never overlook them.
Thursday, December 28, 2006
Investor or Idiot?
Real Estate Investors amaze me. First I suppose we need to define what an "investor" is. Most people consider themselves one if they plop down a few thousand and buy a home. Congratulations, you own a home therefore you are an investor. Please. You own money pit that will drain you dry.
At best you are just ignorant or you are an idiot. In the last year or so I have seen more people come up with the oddest strategy to determining if a property is a good value. They will do everything to make a home work, except doing the math. One buyer recently said, "This home is so pretty, everyone would want to live here so this has to be a good buy." She will probably be in the middle of a foreclosure in about 12 months.
An investor is one who has studied the market, the home to be purchased, understand what rate of return is and how to figure it. They are making, that's right, making their money work for them. This is not guess work, it is having an understanding of the environment around you. All aspects, from the job economy, industry statistics, the mechanics of the homes, and the true cash on cash value.
I have seen more people get into the real estate investing game in the last few years than ever before. I have also seen more people loose their shirt because of having insomnia and getting sucked into late night TV. There is nothing easy about real estate investing. The pros at it make it look easy. That's why they are pros. They understand how the market reacts, what the public wants, and they do their homework.
Real Estate can be the best investment one can make. It can also be the worst. I just met with a couple who lost, yes lost, over $50,000 when they had to sell a duplex. They didn't know what they were doing when they bought it, and it wiped them out. "Real Estate always goes up in value," they said. "That was an expensive lesson," I responded.
You can do this real estate investing venture. Just learn. Find someone who is not just a real estate agent, but one who knows investing. Most real estate agents are not investment strategist! I can help. If you decide that investing is for you, call me or email me and I can send you some names of people that can assist in your area.
At best you are just ignorant or you are an idiot. In the last year or so I have seen more people come up with the oddest strategy to determining if a property is a good value. They will do everything to make a home work, except doing the math. One buyer recently said, "This home is so pretty, everyone would want to live here so this has to be a good buy." She will probably be in the middle of a foreclosure in about 12 months.
An investor is one who has studied the market, the home to be purchased, understand what rate of return is and how to figure it. They are making, that's right, making their money work for them. This is not guess work, it is having an understanding of the environment around you. All aspects, from the job economy, industry statistics, the mechanics of the homes, and the true cash on cash value.
I have seen more people get into the real estate investing game in the last few years than ever before. I have also seen more people loose their shirt because of having insomnia and getting sucked into late night TV. There is nothing easy about real estate investing. The pros at it make it look easy. That's why they are pros. They understand how the market reacts, what the public wants, and they do their homework.
Real Estate can be the best investment one can make. It can also be the worst. I just met with a couple who lost, yes lost, over $50,000 when they had to sell a duplex. They didn't know what they were doing when they bought it, and it wiped them out. "Real Estate always goes up in value," they said. "That was an expensive lesson," I responded.
You can do this real estate investing venture. Just learn. Find someone who is not just a real estate agent, but one who knows investing. Most real estate agents are not investment strategist! I can help. If you decide that investing is for you, call me or email me and I can send you some names of people that can assist in your area.
Sunday, December 24, 2006
End of an Era
We knew it was going to happen sooner or later, but yesterday December 23, 2006 was that day. Bea Black also known as Mimi, was laid to rest in Norman Oklahoma. She was the only grandmother I really knew even though she wasn't mine by blood, she was my wife's. She was 94.
Mimi was full of life, spirit, and creativity. I remember when I first met her 21 years ago and I thought this woman is no ordinary grandmother. She was vibrant and colorful, she even wore a turban the our wedding. But the thing I remember when I first met her was she accepted me with open arms. She wrapped her arms around me, which made me nervous at that time, and said, "welcome to the family and pay no attention to that man over there." She was speaking of her husband, A.D. who was known for razzing new green members of the family. She was supportive. She was caring. She was loving. She was Mimi.
As we were leaving Norman Oklahoma, we realized we may not come back. Although it is a town full of memories, the remaining family members have moved to different locations and have paved the way for other new families to begin their legacy. The Blacks were fine people. We loved them very much; will miss them but know that they too have gone on to be with Our Lord and Savior, Jesus Christ. I will never forget her.
Mimi was full of life, spirit, and creativity. I remember when I first met her 21 years ago and I thought this woman is no ordinary grandmother. She was vibrant and colorful, she even wore a turban the our wedding. But the thing I remember when I first met her was she accepted me with open arms. She wrapped her arms around me, which made me nervous at that time, and said, "welcome to the family and pay no attention to that man over there." She was speaking of her husband, A.D. who was known for razzing new green members of the family. She was supportive. She was caring. She was loving. She was Mimi.
As we were leaving Norman Oklahoma, we realized we may not come back. Although it is a town full of memories, the remaining family members have moved to different locations and have paved the way for other new families to begin their legacy. The Blacks were fine people. We loved them very much; will miss them but know that they too have gone on to be with Our Lord and Savior, Jesus Christ. I will never forget her.
Friday, November 24, 2006
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