Hello dear readers!
It’s Friday…okay, it’s basically Saturday as I publish this post. Details, details.
Anyways, here are 5 things I’ve been up to.
1) Heading to FinCon 2016!
I’m pumped that I’ll be heading to this year’s FinCon event in San Diego. FinCon is a conference geared for bloggers who are primarily in the personal finance and investing space.
I’m a new blogger, I’ll admit it. This month marks only the 6th month of this blog’s existence! I have a ton to still learn. What’s great about FinCon is that it brings together bloggers from all experience levels in a forum where you can actually talk face to face. As great as the internet is, some times you still need to step out the door and shake someone’s hand.
Here’s just a subset of real estate blogger/investors that I’m excited to meet in person.
- Amy – Yetinvesting
- Brian – Rental Mindset
- Michael – Financially Alert
- Eric – Eric Bowlin
- Alex – Cash Flow Diaries
Are you going to FinCon? Let me know so we can tag up and meet!
2) Real Estate Investor/Blogger Mixer at FinCon
So if you opted for the premium FinCon ticket, you got special access to the Pro Networking event on the first day. Well, I chose to buy the basic pass. Since I’m not going to the Pro Networking event, I thought, why not have our own little meetup between us real estate investors?
So that’s what happened! Brian from Rental Mindset and I decided to set up a little social mixer that’s free to anyone at FinCon who’s interested in real estate investing. If you’re interested in attending, send me a message at ob”at”outofstateinvestor.com and I’ll send you the details.
3) Quick Tip for Managing Rehabs from Afar
I love attending meetups. You learn a lot very quickly when talking to other experienced investors. This past week I attended a real estate meetup in Los Angeles and heard a great tip. This guy was a big shot investor who owns hundreds of properties across the country. He’s at a point where he doesn’t even employ property managers. He establishes his own companies to manage his portfolio in each city that he operates in. Yeah…talk about big time.
I asked him how he successfully managed his rehabs early in his career before he had the capital to build his own teams in place. His response was great and actually one that I haven’t heard of before.
Here’s what he did:
I hired an off-duty police officer to visit my rehabs to check on the contractors that I hired. The cop would go to the property, sometimes in uniform, and see what days the contractor was actually there and what progress was being made. For anyone who asked, he simply said he was my business partner. After the contractors saw him, my rehabs nearly always finished on schedule if not earlier.
What an amazing tip!
The next time you feel like you want a second set of eyes to oversee major work being done on your property, you may want to consider hiring an off-duty cop to just check things out. There are sites such as Off Duty Officers, Inc where I’m sure you can find someone to pay a visit to your rehab.
4) Launched A Spacecraft Towards An Asteroid!
Remember that movie Armageddon from the 90s? You know, the one where an asteroid the size of Texas is on a collision course with Earth and threatens mankind. Sound familiar?
And our only hope is sending a team of oil drillers led by Bruce Willis to dig a hole in the asteroid to nuke it to smithereens. Now you remember? Are you nodding your head in disgust? You should be.
The very premise of the movie was absurd. In the commentary, Ben Affleck says he “asked [director] Michael Bay why it was easier to train oil drillers to become astronauts than it was to train astronauts to become oil drillers, and he told me to shut the *uck up, so that was the end of that talk.” Yeah,… talk about absurd.
In Real Life
Last week I supported the launch of a robotic spacecraft on a mission to an asteroid named Bennu. Just as in the movie Armageddon, this asteroid is on a collision course with Earth. Well, sort of.
It’s got a 1-in-2700 chance of impact, which is fairly high when compared to all the Near Earth Objects (it’s #2!) we track. Though it’s not the size of Texas, it is over 5 football fields wide and the size of a small mountain. Don’t worry though, it doesn’t have nearly as much energy for a catastrophic impact.
So what are we doing about it? Well, unlike Billy Bob Thornton’s decision to send some oil drillers to save the day, in today’s world we’re sending a robotic spacecraft called OSIRIS-REx. Yes, the name is a long acronym, but basically it’s to study the role asteroids have played in shaping the origins of life. More specifically, OSIRIS-REx’s mission is to collect at least a 60 gram sample of asteroid material in a capsule to send back to Earth!
So I manned my station in support of this historic launch of OSIRIS-REx last week. Launch went smoothly and the spacecraft is now cruising on its way to Bennu. If all goes well, in about 7 years we’ll recover some asteroid material.
I’ve also got another launch I’m supporting as we speak, but this one’s going to just orbit the Earth and take really good pictures. I know, how boring of a mission does that sound. Well, we ran into some issues so it looks like I’ll be working over the weekend 🙁
5) Launched an Interview Series!
How am I to top the historic launch of a asteroid sample return mission? The answer is I can’t. So I’ll just spit it out. I launched an interview series on my blog this week! These interviews highlight actual real estate investors who own rental property. The purpose of these interviews is to showcase investors who live in a high cost of living area, hold a full-time job that is not in real estate, and still manage to invest in rental properties. As you’ll see from these interviews, many of the rentals that the investors hold are actually out of state.
Kicking off this series, Brian from Rental Mindset shared his background and thoughts on rental real estate. He lives up in the Bay area of CA, but that didn’t stop him from pursuing real estate investing.
If you are a real estate investor with properties that are not in your home town and want to be featured in an interview, send me an email. You can reach me here or just send a message to ob”at”outofstateinvestor.com.
How did your week go? I’d love to hear a highlight or two.
And if you’re attending FinCon, drop me a line. I’d love to connect!