Interested in building giant wealth through multifamily real estate investing? Well, on today’s show, we interview someone who already has. Michael Becker is an experienced multifamily investor who’s mastered the genre and simplified the process for being successful! Michael shares what every new investor needs to know about avoiding the biggest mistakes in multifamily, how to invest no matter the market or how hot it is, four problems to watch out for that led to the last recession, and a lot more! You DO NOT want to miss the deep dive where Michael shares how he and his partners made $10M in profit using a combination of BRRRR, syndication techniques, private money, and prudent decision-making. If you’ve ever thought about moving into multifamily investing at some point, don’t miss this show!
Hot Home Trend: Color Block Your Kitchen Cabinets
By Melissa Dittmann Tracey, REALTOR® Magazine Getting a little mismatchy in kitchen cabinet color designs is no longer being viewed as an unfinished reno job, but instead perfectly stylish in fitting with today’s trends. These “tuxedo kitchens,” as they’re nicknamed, are where the upper cabinets may be in one color—like in all white—and then the […]
BiggerPockets Podcast 297: Mastering the Decision-Making Process with Business (and World Series of Poker) Champion Annie Duke
In today’s epic show, we interview World Series of Poker bracelet champion Annie Duke. Annie is a nationally sought-after speaker who combines her mastery of poker with a study of the cognitive sciences in a truly unique and brilliant way.
In this show, you’ll have your mind blown by Annie’s insights regarding following conventional wisdom (even if it doesn’t make sense), focusing too much on the results (and not enough on the right choice), and accepting a level of uncertainty to gain a HUGE advantage over your competition. Annie’s theories on “thinking in bets†are designed to help others navigate a world where we can’t be certain of an outcome, but still come out on top over time.
This is an absolute can’t-miss episode for those looking for strategies to overcome apprehension, fear, or uncertainty. Be sure to listen to this incredibly brilliant and powerful interview—and get the tools to take your next steps today!
How one CAI member helped clients during and after Hurricane Maria
San Juan, Puerto Rico: A work crew clears brush created by Hurricane Maria from a city park more than three months after the storm struck.Â
Hurricane Maria made landfall in Puerto Rico as a Category 5 storm on Sept. 20, 2017, bringing devastating winds and flooding and leaving much of the island in the dark. More than 70,000 homes were destroyed and the official damage tally in Puerto Rico and the Virgin Islands totaled $90 billion.
The effects continue to linger on the island one year later. Puerto Rico Electric Power Authority reported last month that power has been restored, though some residents deny that claim and say they must still rely on generators.
CAI member Robert MacKay, president of community management software company Manage My Nest, has helped his clients in Puerto Rico communicate with one another during and after Maria.
The company, which is headquartered in San Juan, did whatever it could on behalf of clients. This included using the platform to send out communications on clients’ behalves while landlines were down, working with suppliers to send necessary resources, facilitating and executing email blasts, and more. “There was no set menu—just whatever we could do to help,†says MacKay.
One community manager at a high-rise condominium used the platform at 6:00 a.m. during the hurricane to advise residents to stay away from windows and remain in hallways, he recalls. Nearly an hour later, they were able to alert residents that the windows were breaking and to go to stairwells.
MacKay is confident that the island will return to normal despite the widespread devastation. “The people of Puerto Rico represent a resilient culture. You could see people outside working together with FEMA to salvage what they could. People rationed diesel fuel with generators between communities. Residents in the community used a shovel and a wheelbarrow to clean the beach. It was amazing to see. They love their island,†says MacKay.
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Find Out the New, Hot Home Color for 2019
The paint company Behr has named its top pick for 2019’s Color of the Year. See the trending color in home design.
BiggerPockets Podcast 296: From Farm Boy Beginnings to $15M in Real Estate Holdings with Rock Thomas
What does it take to truly find financial independence? Money? Deals? Mentors? Or could it be something else entirely… something intangible? In this episode of the BiggerPockets Podcast, we sit down with Rock Thomas, a real estate investor and agent who shows others the simple mindset shifts needed to achieve financial freedom. In other words, it’s time to work on YOUR “money blueprint.†Through Rock’s story, you’ll learn the most important skills any individual needs to achieve in any field, the best way to find and attract mentors who can teach you the path, how to change your “operating system†to one that is far more successful, and so much more. With powerful stories, humor, and insight, Rock’s story is one you won’t want to miss!
Hurricane Florence: Will FEMA help your community?
Photo credit:Â Mark Hiebert
As community association managers and boards of directors prepare their residents for Hurricane Florence, they are burdened with the knowledge that the Federal Emergency Management Agency likely will not be there to support disaster recovery in their community.
That’s because FEMA classifies community association streets as private and won’t remove debris without prior approval.
What’s not understood by FEMA and many members of Congress is that the local municipality may have mandated the developer privatize streets in the community, resulting in association residents bearing the financial, legal, and operational responsibility for maintaining and insuring the streets. The residents have to pay for the streets when their neighboring community may not. These residents pay the same local property and federal taxes as everyone else, but they are being penalized because their streets are “private.â€
So when CAI’s government affairs team hears a monster hurricane is heading toward the coast with a dangerous storm surge, damaging winds, and catastrophic rainfall, we step into high gear contacting members of Congress, governors, and FEMA officials. We plead with them to consider providing explicit guidance to first responders to remove debris from private property following the storm because it will likely be an immediate threat to public health and safety. We followed the same routine preparing for and recovering from hurricanes Harvey and Irma in 2017 and Hurricane Matthew in 2016.
Understandably, FEMA usually waits until after the storm wreaks havoc to give guidance to first responders. Yet it becomes very difficult for managers and board members to appeal to their governor, FEMA, and Congressional representatives to authorize debris removal on private property while trying to navigate the destruction and loss that tends to follow a hurricane. It is preposterous to ask residents who are trying to deal with the devastation of loss following a disaster to call their Congressional representatives to get help.
The Disaster Assistance Equity Act will solve this inequality. If you aren’t facing Hurricane Florence, you can prepare your community for a future disaster by contacting your Congressional representative and urging them to co-sponsor the legislation.
For more perspective from CAI’s government affairs team and tips for requesting assistance from FEMA, visit the CAI Advocacy Blog.
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Community Associations Prepare for Hurricane Florence
Community association homeowners in the path of Hurricane Florence are readying disaster preparedness plans.
Florence is forecasted to make landfall between South Carolina and North Carolina as a Category 3 or 4 storm late Thursday night or Friday morning and could stall over the region, bringing catastrophic flooding similar to what the Houston area experienced last year with Hurricane Harvey. As of Tuesday afternoon, more than 1.5 million people are facing mandatory evacuation in coastal areas due to destructive winds and a dangerous storm surge, though Florence’s impacts will be felt far inland too.
Crane Pointe Homeowners Association residents Dennis and Susan McGaha have done everything possible over the past three days to secure their home in Hampstead, N.C., which is located in between Surf City and Wrightsville Beach, just a few miles from the coast. The McGaha’s preparedness plan included securing all loose items—from pool floats to flowers—and adding window shutters and extra drain pipes.
Additionally, the couple gathered their most valuable possessions: family pictures. Every framed memory now lies in a plastic box, enclosed in one of the most secure rooms: the laundry room on an elevated space. The couple also has a weeks’ worth of sealed medicines and clothes.
When it comes to their neighbors’ preparedness it’s a mixed bag. While some have already headed inland, others have not installed a single shutter, according to the couple.
While homeowners like the McGaha’s prepare for the worst, additional storms behind Florence also are threatening more of the East Coast as the Atlantic hurricane season hits its peak.
Homeowners should include the following items in their disaster preparedness prep:
• Water—one gallon of water per person per day for at least three days for drinking and sanitation
• Food—at least a three-day supply of nonperishable food
• Battery-powered or hand crank radio and a NOAA Weather Radio with tone alert
• Flashlight
• First-aid kit
• Extra batteries
• Manual can opener
• Cell phone with chargers and a backup battery
CAI encourages all communities and their residents to be ready for Hurricane Florence and beyond. Associations, management companies, and business partners should review and compare their disaster plans.
The post Community Associations Prepare for Hurricane Florence appeared first on Ungated: Community Associations Institute Blog.
How to Understand Home Staging Pricing and Proposals: Do’s and Don’ts
By Audra Slinkey, Home Staging Resource A lot of real estate agents are looking for a good, reliable home stager that can magically transform their listings into the price point their seller is hoping to achieve. The trouble and confusion sometimes comes when the real estate professional asks a few home stagers to “bid” or […]
BiggerPockets Podcast 295: Using the Web to Land 8-12 Deals a Month with Melissa Johnson
Are you interested in learning how to flip 8-12 houses a month at $30k a pop? Well, this episode may be just what you’ve been looking for! On today’s show, we interview Melissa Johnson—house flipper extraordinaire and owner of the company Lead Propeller, a service that provides websites to help motivated sellers find real estate investors. Melissa provides some incredible information regarding how they find motivated sellers, how they negotiate deals, how they sync up with the best contractors! You won’t want to miss the three things your website NEEDS to generate seller leads, as well as the exact process to estimate rehab costs! Melissa and her husband Danny run the podcast Flip Junkie, and in this episode, they pull back the curtain to reveal the secrets to their business. Don’t miss out on your chance to learn from a seasoned pro!