It is HOT in Phoenix! Both our first 112 deg F (44.4 deg C) day and the housing market. I am frustrated at not being able to buy a property. If you wait to see the place there are already multiple offers. So, we decided to change our strategy and make offers; sight unseen, based [...]
Earlier we discussed the concept of 'opportunity cost' primarily in the financial sense. But opportunity cost applies to all of life's choices. If you marry one person, you pass up the opportunity to marry another. If you vacation in the Caribbean on a cruise, you pass up the opportunity to ski in Switzerland. If you [...]
Thanks for the response, Sherman. We met Sherman at the local rose society meeting in December 2018. He immediately recognized Michelle as a fellow property manager since he had seen her in Lowe’s buying refrigerators all the time. Between the roses and the property management, we had a lot to talk about. One critical [...]
Our results to date are reported on a monthly basis on the “Standings” table on the Home page. We give you the current total value of [...]
Previously we made a low ball offer on a house in Mesa. We had toured the house and determined that there was significant work necessary to bring it into rentable condition; perhaps 20 to 30 thousand dollars. Also, there was something weird going on with the audio/visual wiring. The Roca house was bank owned, an [...]
So, how did I meet Jeff and why is he on TMP team? For 15 – 20 years Jeff and I attended the same church. We had a nodding acquaintance in all those years. Then Jeff became a “vicar” at the church along with his full time outside job. A ‘vicar’ is a pastor in [...]
REO is an acronym for “Real Estate Owned”. Generally, REO is good. You want to own real estate. You want to show real estate you own with lots of equity. It shows that you’re “rich”. Banks have REO for real estate that they own to conduct their business. But for a bank, OREO is [...]
Sherman Weekes, Property Manager Here’s a typical story from Michelle on operating as your own property manager. Cops show up at Apartment 2xx, on the second story. They have a warrant for resisting arrest and assaulting an officer. They knock and announce. Usually this is a no-knock situation. Break down the door [...]
At the End of March 2019 Our results to date are reported on a monthly basis on the “Score” table on the Home page. We give you the current total value of TheMonopolyProject (TMP) as a combination of cash held (bank deposits) and the estimated equity (current market value minus any loans) of the [...]
The first question is ‘how do we find a house to buy?’ Answer: Get a real estate broker. Yes, there is a difference between a broker and an agent. I will refer to them as ‘a broker/agent’. Buying is easy, seller pays the commission. But we will consider the complete buy/sell/buy cycle. [...]
