The Man Who Mentored a Billionaire

As a boy my interests were in sports, music and movies.   I had this rotating dream of being like Dan Fouts of the San Diego Chargers, Chris Cornell of Soundgarden and Harrison Ford from the Indiana Jones films.  How wonderful to be as wealthy and famous as these guys!  But did I ever play football?  [...]

Bandit Signs: Ugly, Unprofessional and Illegal

Fresh out of my very first real estate investment seminar in 2001 I went directly into the local print shop and had 50 ‘We Buy Houses’ signs made up.  Al Lowery, the instructor, promised that these signs would generate hundreds of calls from desperate, motivated homeowners.  Early one morning I put every one of these [...]

Flushing out the Flakey Cash Home Buyer

“They say money talks.  All mine ever says is goodbye.” – Red Skelton
My father-in-law is an excellent negotiator.  He expects a deal wherever goods and services are exchanged.  This includes Best Buy, although I’m told they don’t negotiate prices.  From his Ford Expedition to the tux I wore at my wedding he will always ask [...]

Dress for the Business You Want, Not the Business You Have

I worked in TV news for 15 years before I got into real estate.  I was commonly referred to as the “cameraman”, but I liked the title “photojournalist” much better.  Because I was behind the scenes the dress code wasn’t nearly as strict as it was for the on-air “talent”.  Many of my colleagues chose [...]

Performing an Autopsy on a Dead Real Estate Deal

Last week I played doctor.  This week it’s forensic pathologist.  Admittedly, I’m not very good at either one.  I let a real estate deal flat line and the cause of death remains unclear.    Fortunately, there is a lot that can be learned when you dissect a paper corpse.  The writers of CSI could have never [...]

Real Estate Recovery Roadblock #3: Banks and their unlikely business partner, Uncle Sam

“Little else is requisite to carry a state to the highest degree of opulence from the lowest barbarism but peace, easy taxes, and a tolerable administration of justice: all the rest being brought about by the natural course of things,” Adam Smith, author of ‘Wealth of Nations’, 1776
Read these recent headlines from major metropolitan newspapers [...]

Real Estate Recovery Roadblock #2: The FHA 90-Day Seasoning Requirement

There are certain seasoning requirements I absolutely love.  For example, if I’m cooking halibut on the grill I must coat it with olive oil and add Emeril’s Essence.  And no rib eye tastes right to me without McCormick’s Montreal Steak seasoning.  For other great recipes see the Food Network website.  But on to business…it’s time [...]

Real Estate Recovery Roadblock #1: The Appraisal Process

It would be easy to slam the Home Valuation Code of Conduct (HVCC) in this post.  Yes, the NAR and other real estate organizations blame this so-called voluntary code for road blocking the real estate recovery, and I agree with them.  If you’re not familiar with the code or its origins, read the ‘Washington Report:  [...]

The Top (3) Real Estate Recovery Roadblocks

Last fall my wife made me a delicious lunch to take with me to the office, which of course I forgot.  The next day she put my car keys in the lunch cooler so I would remember to grab it.  Needless to say, discussing stuff like real estate recovery roadblocks and the Case-Shiller Home Price [...]

Real Estate Values Set by the Golden Rule

I was thinking that this post should be called the 57 day blog sabbatical since my last entry was August 3rd.  But, that’s a topic for another day.  I think I’ll title that one ‘Do busy real estate entrepreneurs really have time to blog’?
We’ve all heard about the golden rule.  It’s from The Bible.  Matthew [...]