|
|
Dear Family and Friends,
Since our last newsletter things have been really great. Mary Jane and I got to spend the last few days of September at a life changing convention and then went to our executive rental house in the mountains of South Carolina. This place is nestled in the trees overlooking a golf course and is very peaceful. We only wish we could have had a few more days there.
We also started a new business, in addition to the other businesses as we are big believers in establishing multiple streams of income. Kevin and Don have both joined us in this new business adventure.
Kevin and his family are getting settled in over at Don's house until they can get a place of their own. Claudia already has a job at a medical center here in Warrenton. Amy has decided she really likes her new job. Kristina has also started a new part-time job in addition to the two businesses she has. David continues to work with us in our businesses.
The leaves have started to change, creating one of the most beautiful times of the year here in Virginia. We were planning to take my mom for a drive to see the leaves next week but decided to squeeze in a shorter drive the day I wrote this because a hurricane was headed our way and we weren't sure if any leaves would be on the trees after hours of wind and heavy rain. The good news is she really enjoyed that ride.
The Hurricane has come and gone and we were very blessed to escape with only minimal issues.
Quote of the month: "Some people cause happiness wherever they go: others whenever they go!" - Oscar Wilde 1854-1900
To my accountability buddies, things haven't changed since last month. I must say I am disappointed in my efforts concerning this goal.
Kevin and Mary Jane
P.S. If you'd like us to cover a specific item of interest in our newsletter please feel free to ask. Also, if you have a lesson learned you would like to share we'd be happy to consider adding it to a future newsletter.
|
|
The Smartest Kind of Income
Most people spend their lives trading their time, "hours", for compensation. This compensation includes immediate payments, insurance benefits, and retirement benefits. However, there is a smarter way to work, it is called residual income.
Residual income is essentially doing something once that earns compensation many times. For instance think of your local insurance agent. He/she sells you a policy once, and each time you renew that policy he/she gets another check. This is also the case for many actors. Think of the people who acted in Happy Days, Friends, Cheers, etc. Those shows haven't been produced for many years but continue to be broadcast and sold on DVDs. Each time this happens many of those actors continue to receive residual income. Heck the estates of Michael Jackson and Elvis both continue to receive residual income and they're dead. Now that is working smart!
You can approach this type of income with some types of real estate investing; for instance rental properties. You buy it once and can receive income forever. But even this is not true residual income because you have to deal with tenants and maintenance issues. If you have a larger property, such as a 100+ unit apartment complex or manufactured housing community, then you can hire a manager to take care of all that day-to-day stuff but you still need to manage the manager.
So with all this said, is there a way for you and I to earn this smarter type of income without changing careers? The short answer is: "there sure is". This is the new business Mary Jane and I are so excited about. If you'd like to know more just contact us via our contact information below and we will be pleased to introduce it to you. It may not be a good fit for you but if it is, it can change your life!
|
|
Large Players Scooping Up Single Family Homes
Peter Vekselman, http://coachingbypeter.com/mki/, recently shared some information with us concerning the changing single family housing market that we think is worthy of sharing with our readers.
From Peter: "Of the estimated 12 million rental homes nationally, the vast majority are owned by small investors. Historically, home sales have been one-off purchases but that has changed with the foreclosure Tsunami.
Fannie Mae and Freddie Mac started selling foreclosures in bulk earlier this year and the pilot program of 2,490 houses is expected to expand into hundreds of thousands in the coming months.
A few months ago, Warren Buffet made a statement to the effect that if he had a good management model for foreclosed houses, he would be buying them by the thousands. Apparently, a few private money funds think they have just such a business model.
Waypoint Real Estate Group in Oakland, California has purchased more than 2,000 houses since 2009. Recently Waypoint signed a deal with Menlo Park, California based GI Partners. The private equity firm has invested $200 million and has an option to invest another $200 million. Waypoint Real Estate Group is expected to accelerate its purchase of single-family homes.
Another big player in the game is Colony Capital which currently owns about 3,000 rental houses with plans to reach 5,000 by the end of the year and 10,000 by the end of 2013. With several smaller players also buying up foreclosures, this will be an industry game changer.
These large private money funds are buying up distressed houses by the thousands at cheap prices. However, they are not planning to rehab and flip them. These houses are being turned into rentals and professionally managed.
The rental market is bound to see major changes as institutional buyers look to purchase at 50 percent discounts and rent for positive cash flow for a few years while prices appreciate and then they will sell at big profits."
Our question: While the current market presents a terrific buying opportunity do the trends above indicate a forever change to the single family housing market?
|
|
Laughs and Interesting Stuff
The Bathtub Test
During a visit to my doctor, I asked him, "How do you determine whether or not an older person should be put in an old-age home?"
"Well," he said, "we fill up a bathtub, then we offer a teaspoon, a teacup, and a bucket to the person to empty the bathtub."
"Oh, I understand," I said. "A normal person would use the bucket because it is bigger than the spoon or the teacup."
"No" he said. "A normal person would pull the plug.
Do you want a bed near the window?"
The Blonde and the Barking Dog A blonde & her husband are lying in bed listening to the next door neighbor's dog.. It has been in the backyard barking for hours & hours. The blonde jumps up out of bed and says, "I've had enough of this". She goes downstairs.
The blonde finally comes back up to bed and her husband says, "The dog is still barking, what have you been doing?"
The blonde says, "I put the dog in our backyard, let's see how THEY like it! Two Blondes With Hammers... Lynn & Judy were doing some carpenter work on a Habitat for Humanity House.
Lynn who was nailing down house siding, would reach into her nail pouch, pull out a nail & either toss it over her shoulder or nail it in. Judy, figuring this was worth looking into, asked, "Why are you throwing those nails away?"
Lynn explained, "When I pull a nail out of my pouch, about half of them have the head on the wrong end so I throw them away."
Judy got completely upset & yelled, "You moron! Those nails aren't defective! They're for the other side of the house!"
My Mom Passed Away
A blonde goes into work one morning crying her eyes out.
Her boss asked sympathetically, "What's the matter?"
The blonde replies, "Early this morning I got a phone call saying that my mother had passed away."
The boss, feeling sorry for her, says, "Why don't you go home for the day? Take the day off to relax & rest."
"Thanks, but I'd be better off here. I need to keep my mind off it and I have the best chance of doing that here."
The boss agrees & allows the blonde to work as usual.
A couple of hours pass & the boss decides to check on the blonde.
He looks out from his office & sees the blonde crying hysterically... "What's so bad now? Are you gonna be okay?" he asks.
"No!" exclaims the blonde. "I just received a horrible call from my sister. Her mother died, too!
|
Projects and Opportunities
We have a pair of duplexes in a good neighborhood Lynchburg VA and are looking to wholesale for approximately 60% of after repair value. The units require only minor repairs. The two buildings will generate $1,100 each per month in rental income and should be worth between $180k and $200k when rented. We are asking $85K but accepting all offers. For a full executive summary contact us as soon as possible. Click here to view a video of the properties.
We are selling our 4 bedroom, 2 bath, home in Columbia SC. Approximately 2,000 square feet. Interior was totally renovated a three years ago. Granite in the kitchen. New appliances installed during the renovation. Asking $92k, recently rented for $1050 monthly, new estimated rent will be $1150 per month.
Mary Jane assures me we will have the title to the manufactured home that was abandoned in one of our manufactured housing communities this month. Now we have to decide if we are going to fix it up and sell it or sell it as is.
We are continuing to locate used mobile homes, set them up in our communities, and sell/rent them. If you want to get into the rental housing business for around $15,000 then this may be the opportunity for you.
Individuals interested in working with us on any of these opportunities should contact us via the methods below.
Did you know that you can invest in real estate from your IRA or other retirement account? You can also use your stock portfolio to invest without ever selling your stock? (Think leverage, leverage, leverage!). These investment secrets aren't well known but they are perfectly legal. Contact us and/or click on this Investment Secret link to learn more.
|
|
|
|
|
We are always willing to share information with you so please feel free to contact us
Driscoll Enterprises Inc. 332 West Lee Hwy., Suite 200, Warrenton, VA 20186
703-398-1188 or 800-887-0001 info@DriscollEnterprisesInc.com |
|
|
