Landlords

Landlord - An entity that owns real estate for cash flow, equity growth and appreciation

Cash Flow - The difference between rents collected and total expenses paid

Equity Growth - an increase in equity resulting from your tenant paying off your loan principal

Appreciation - an increase in value resulting from inflation and scarcity that may occur.

Property Manager - An entity that will allow you to retain your sanity

Although I know that many of you do a fine job managing your own properties, I do not share your abilities in this area. I may be the worlds worse property manager (I wind up either wanting to murder my tenants or bring them groceries). Building a rental portfolio, however is one of the quickest and safest routes to an early retirement and is the main vehicle that I am riding to total financial independence. Manage your own, or hire a management company, either way - don't pass up the fantastic benefits of income property ownership!

Interest rates are at a 20 year low and I believe that every serious Real Estate Entrepneur should be in a mad dash to create real cash flow. When you combine the current finance market with Jacksonville Florida's growth potential and availability of affordable "bread & butter" housing, the potential is almost unbelievable. I am building net cash flow at the rate of around $1,500 monthly each year. The equity growth and appreciation is there, but I treat it as just a "bonus". I'm doing it and so can you! I'll show you how...

If you ask my students, they will tell you that the underlying theme of my teachings is "look at the dollars - not the property". It has taken me many years to embed this theme into my consciousness, but now that I have, my real estate career is skyrocketing! Let me give you an example:

You can purchase a rental house on the south side of Jacksonville for around $80K and it will rent for about $800/month. Now this house will be around 25-40 years old, show medium wear and tear and have at least 10-20 year old mechanical systems. Many of you are fighting to find a property like this. Now I can sell you a property on the Northside for $50K that rents for $725/month. Most of these properties have been professionally renovated including new electrical, plumbing, central air, all wood cabinetry, ceramic tile and +FHA grade carpeting. Occupied by a Section-8 tenant, my house will out cash flow your semi-pretty house almost two to one. The government rental check will be in my mailbox on time every month and since my house is occupied by a tenant with everything to lose (government rent payments), and has new mechanical systems and finishes, many of the problems with management can be avoided.

Now if you are stuck on semi-pretty houses, I probably won't persuade you otherwise, I'll just retire in half the time you will. Why?....... Because I have learned to overcome my need for prestige and "look at the dollars"!

If owning rental property is a part of your plan, take a look at my "Properties" page. I can arrange low rate financing on any of these properties. I am selling them at 50-65% of appraisal, so cash flow will be substantial and down payments (if any at all) can be very small.

Best Wishes,

Your friend and fellow entrepreneur,

Joe Locklear