| November Notes
November is the month of the American holiday known as Thanksgiving. Traditionally it offers a time where we may count our blessings and acknowledge our thanks wherever appropriate.
Since I spend a big part of my life in property management, there are many things I am thankful for as it relates to our business and this industry. I thought, as an investor, you might enjoy considering these "blessings" we all share in the real estate business.
1. Technology It was not that many years ago that we were managing properties with a spreadsheet. Before that, it was vanilla folders full of paper! I have almost forgotten the pain of trying to find information in those bulky files. Then the improvement offered with spreadsheets. Now, powerful application programs that allow us to manage efficiently and much more attentively.
2. Working and being licensed in landlord friendly states If you ever feel frustrated with what you are told you can not do in Indiana or Florida as a landlord, just talk to somebody who is an owner in California or New York. Owning rentals, managing rentals, and dealing with problems is so much simpler in what we call "landlord friendly" states.
3. Finding and keeping great contractors! Through the years we have made a few friends. These are the great people that figure out how to keep your tenant happy while offering a very fair value for their services. People who can be trusted. We are thankful for all they do for your investments.
4. 24 hour emergency service that does not go through my cell phone. Not so many years ago, after-hours service meant my phone ringing and awaking me from a quiet slumber. In a grogy stae I needed to remember the right questions to ask to determine if an emergency really exists. Finding a professional company who can screen calls to determine if a call is truly an emergency, knowing what contractors to dispatch, and only awaking me if it is a dire emergency, has changed my life! Funny how most of these calls can wait until morning. Now I get a regular nights sleep.
5. Owners who refer other investors to our company. Frankly, we do not have a big marketing budget. When you refer us to somebody it is the highest form of flattery, plus you are likely sending us an investor like you. Somebody who we are happy to help!
Five simple things I am very thankful for this November. What are you thankful for? Be sure and take the time to let the people involved know. It is a great way to spend this month!
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