Like a drug addict searching for more of his narcotic of choice, the pursuit of certainty is my vice and the source of nearly every anxious moment I have… As an entrepreneur and someone who routinely takes on sizeable risks, I crave certainty. And I …
Turning a Basement Into a Rental Unit
The latest real estate renovation for investment purposes we completed was a basement suite. More specifically, it was the basement suite for a half-duplex (built in the 1960s) in the inner city. The premise behind the reno was to turn a single unit investment property …
What is Your Wealth Model?
Nathan Bedford Forrest was a conflicted man, and a brutal general for the Confederate Army during the American Civil War. He was a ruthless tactician and a racist. Federalist William Tecumseh Sherman (another infamous general from the Civil War) famously dubbed him ‘that Devil Forrest.’ …
Finding the Silver Lining Amidst Chaos
Anxiety seeped through their voices. I heard devastating stories while speaking with many fellow entrepreneurs this past week. Some are left in precarious positions requiring a big dip into their personal savings to keep their employees paid and business afloat… Although a cash call to …
Invest in the Efficiency-Obsessed Entrepreneur
The market is shifting from aggressive growth-focused companies (scale before profit) to ones who actually generate profit… right from the commencement of commercialization. The renewed focus on the bottom line, I think, was brought about by WeWork’s failed IPO. Or perhaps that was the straw …
What I Learned After Reading Bitcoin Billionaires
After reading “Ugly Americans” (a personal top 50 book), and “Rigged” many years ago, I became a fan of author Ben Mezrich. He has a penchant for writing fascinating entrepreneurial stories, typically based on real-life events. So when Bitcoin Billionaires was released over the summer, …
Get Ready to Pay When a Tenant Leaves
This year has served as a good reminder. 2019 has been one of high tenant turnover, and managing rental properties has been time-consuming. Almost every rental property we manage has had a transition from one tenant to the next, which reminded me of just how …
The Buyer Shouldn’t Address The Elephant in the Room – That’s Your Job
A friend of mine and fellow entrepreneur is a ‘sensei of the sales process.’ The guy is a natural closer. He does it in such a casual yet skillful manner that when describing how he closes tough deals, you get the urge to pull out …
How Real Estate Investors Spot a Motivated Seller
Every buyer or real estate investor wants a motivated seller because it often results in getting a pretty good deal on the property… however, it’s not always easy to spot a motivated seller, at least not before negotiations begin. Over the years, I’ve figured out …
Live Poor in Your Twenties
Every second Friday, my neighbor beneath in the old and somewhat run-down apartment complex I lived in during my early-twenties would return from the oilfields. Middle-aged, he was a bachelor and raging alcoholic. He’d get in at about 6PM, and like clockwork, by about 8:30 …