Just this morning, I was having yet another conversation with a fellow educator about the frustration we have with students who have the brains, education, and resources to make deals—but who, month after month, do everything BUT make deals. 

We discussed people who spend big bucks on courses, set up their LLCs, draft land trusts, buy marketing/accounting/management software, attend REIA meetings religiously, have a color-coded filing system, get their real estate license, start a buyer’s list, concoct every conceivable question about every conceivable scenario in a deal… 

…in fact, do everything that it takes to be a successful real estate entrepreneur except make offers. 

Many of these people are successful in their other endeavors; many have good jobs, nice houses, great kids, you name it. But they can never seem to get to the point of actually buying a property, no matter what we tell them or how much time passes. 

What many of you seem to be waiting for is that NEXT bootcamp or the NEXT investor meeting or the NEXT meeting with their coach. 

And what you’re hoping for is that you’ll read something, hear something, or learn something that makes all the fear go away, makes you completely sure of yourself, and makes you 100% confident that the next step you take is the right one. 

I’m here to tell you, from the perspective of almost 2 decades’ experience, that the day you’re waitin ... Read More…

Does this sound like you? 

• You love going to association meetings and webinars, and hanging out in online fora reading about, asking questions about, and discussing real estate.
• You own several home study courses.
• You’ve been to multiple long-form workshops, seminars, and boot camps.
• You haven’t done a deal. 

If it does, I’ve got some good news and some bad news. 

The good news is, you’re not alone: 80% of all real estate newbies are in exactly this position. The bad news is, 80% of real estate newbies will never get out of this position. 

Now, I’ve never seen an actual study that says that only 20% of people who learn about real estate will ever do anything with that knowledge, but I CAN tell you that it’s a number that’s agreed upon by people who are in a position to observe (and fret about) the phenomenon. 

Group leaders and gurus who’ve been around for a while will tell you the same thing—about 1 out of 5 people who start their real estate education will never take it out into the real world and use it to make money. 

So what do we do with this sobering statistic? 

The first thing we should do is ask, “Why”? What is it that the 20% has or is or does that the other 80% doesn’t? 

Again, there aren’t studies that I know of that explain this, but I have a theory, and it goes like this: 

There are several psychological stages that a new i ... Read More…

 ==Legislative Update, 2026 #05== Wow, wins on 8 Major & Priority Important bills.

Action Items for 1 Minute Advocate.
2/10/26 11:21am Last Update this 1 Minute Advocate
Simple version: If the button is green, click it to Advocate now. If the button is blue,
click for information or advocate as you desire.
Explanation of 1 Minute Advocate. (Keep checking the 1 Minute Advocate during the week for any
updates.)
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There is often a huge amount to accomplish into one weekly update.
Mid Week Update:
We put interim updates here because it is quick and easy to update you on individual
items.
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Priority Major/Important Bills Action Map 2/10/26 11:21am Last Update
Important Bills Action Map 2/10/26 11:21am Last Update
(temporarily see Sneak Peak for initial list of 2026 Important & Minor Bills)

Here is the Full House email list updated for 2026 EmailListFullHouse. It is included in
each 1 Minute Advocate button just above the email form when needing to advocate to
full House.
When emailing please leave the BCC rpcsts@gmail.com in place which is how we track what’s happening.
Please forward back to us, NickNorman@yahoo.com, any non-automated responses you receive from legislators.
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Advocate Now:
Major bills
If you haven’t already please Communicate on these as soon as possible.

========================================================================
(new) Milestone Decisions:
Priority Major bills:
2026 Sneak Pe ... Read More…

A short sale in real estate happens when a homeowner sells their property for less than the amount owed on the mortgage. The lender, or mortgage holder, agrees to accept a reduced payoff amount instead of foreclosing on the property. Short sales often occur when homeowners are struggling financially and can no longer afford their mortgage payments, but they want to avoid the more damaging impact of foreclosure.

Understanding a Short Sale

To fully grasp the concept of a short sale, it’s important to understand the dynamics between the homeowner, the lender, and the property’s market value. In a short sale, the property is usually considered “underwater,” which means that its market value is lower than the outstanding mortgage balance. This situation often arises due to a downturn in the housing market or an economic recession. Homeowners may opt for a short sale as a way to mitigate their losses and minimize the financial impact on their credit score compared to a foreclosure.

Special Considerations

A short sale, although a potential solution for homeowners facing financial difficulties, presents a unique array of challenges and considerations that need to be carefully evaluated.

1. Lender Approval: Approval from the lender is necessary for the short sale, as it involves receiving an amount that is less than the total owed. This process can be lengthy and complex, as lenders thorough ... Read More…

Smart real estate investors know that preventive maintenance isn't just about preserving property value—it's about avoiding costly emergency repairs and keeping tenants happy. A systematic, month-by-month approach transforms maintenance from a reactive scramble into a proactive strategy that protects cash flow and extends the life of every property asset.

Winter Quarter: January–March

January marks the perfect time for HVAC filter replacement and furnace inspection. After weeks of heavy heating use, systems need attention. Schedule professional HVAC servicing to ensure peak efficiency during the coldest months. This is also ideal for testing all smoke detectors and carbon monoxide alarms—a critical safety measure that takes minutes but could save lives.

February offers a window to inspect attics and crawl spaces for any moisture intrusion or pest activity that might have occurred during winter. Check insulation levels and look for signs of ice damming on roofs. This is also an excellent month to review insurance policies and ensure coverage remains adequate.

March signals the transition toward spring. As snow melts, inspect foundations for cracks and ensure proper drainage away from the building. Test sump pumps before spring rains arrive. Schedule gutter cleaning to remove winter debris and prepare for seasonal storms ahead.

Spring Quarter: April–June

April demands attention to exterior maintenance. Power wash siding, decks, and walkways. Inspec ... Read More…

Stepping into the world of small multifamily investing feels like crossing an invisible threshold. One day, residential single-family financing rules the roost. The next day, commercial real estate terminology starts flying around—DSCR, NOI, cap rates—and suddenly the game has completely different rules.

Most investors discover these lessons the hard way, through rejected loan applications, missed opportunities, and deals that looked great on paper but crumbled under scrutiny. Here's what separates those who thrive in small multifamily from those who stumble.

DSCR: The Number That Actually Matters to Lenders

Debt Service Coverage Ratio isn't just another metric—it's the lens through which commercial lenders view risk. While residential lenders care primarily about personal credit scores and W-2 income, commercial lenders focus on whether the property itself can cover its mortgage payment.

The standard 1.25 DSCR requirement means the property's net operating income needs to exceed the annual debt service by 25%. A property generating $50,000 in NOI can only support about $40,000 in annual mortgage payments. Many first-time multifamily investors make offers based on residential financing assumptions, only to discover the commercial loan they can actually obtain forces them to bring significantly more cash to closing.

Understanding DSCR upfront transforms how deals get analyzed. It shifts the focus from purchase price to sustainable cash flow, which is exa ... Read More…

 The 10% management fee catches every investor's eye. At first glance, handing over $150 from a $1,500 monthly rent seems like money that could stay in the bank. But savvy investors know the real calculation runs much deeper than that single line item.

The Hidden Costs of Self-Management

Time carries a price tag that rarely appears on spreadsheets. Consider the midnight maintenance calls, the hours spent screening tenants, and the weekend showings that interrupt family dinners. For professionals earning $50-100 per hour in their primary careers, those "saved" management fees quickly evaporate when converted to hourly rates.

A typical rental property demands 8-12 hours monthly for routine management—more during tenant turnover. That's $400-1,200 in opportunity cost for someone billing at $50 per hour, already exceeding most management fees before accounting for emergency situations.

Vacancy: The Silent Profit Killer

The difference between a 30-day vacancy and a 60-day vacancy on that $1,500 rental? Another $1,500 out of pocket. Professional property managers typically fill vacancies faster through established marketing channels, MLS access, and full-time availability for showings. Their networks often produce qualified tenants within days rather than weeks.

Self-managers juggling day jobs frequently stretch vacancies by limiting showing times to evenings and weekends, inadvertently filtering out quality tenants with traditional work schedules.

Leasing Fees an ... Read More…

RE Investing in 2026

Yesterday I posted about how the real estate market changed in 2025 and shared my predictions for 2026. I’ve been thinking about the the human response, the conversations, and quiet head-nods so far this year — so...have you been thinking "What if..."?

Here’s what I see shaping 2026:

• Slower sales and less competition create more motivated sellers

• More motivated sellers lead to better prices and better terms

• Better terms create real opportunities — if you know how to structure them

Ironically, these are exactly the conditions investors say they want — especially buy-and-hold investors. Yet now that they’ve finally arrived, fear is quietly pushing a lot of people to the sidelines.

When the market shifts away from low supply and frantic demand, we often start “what-if-ing” our way into a very costly decision: doing nothing — right when some of the best deals of our investing lives could be made.

You’ve probably heard these questions (or asked them yourself):

• What if I buy at a discount and prices drop even further?

• What if I negotiate great seller financing on a rental, but rents soften?

• What if I lock up a wholesale deal and there’s no buyer?

Those questions are normal. Healthy, even.
But here’s the truth: they’re all UNanswerable.

Wouldn't it be a shame if you miss out in 2026 simply because you don&rs ... Read More…

The BRRRR strategy—Buy, Rehab, Rent, Refinance, Repeat—gets talked about like it’s a cheat code. Done right, it can recycle capital and scale a portfolio. Done wrong, it quietly turns into a long-term hold you never planned for… or worse, a cash-eating monster that blocks your next move.

Let’s cut through the hype and talk about where BRRRR actually breaks—and how to protect yourself before you ever write an offer.

When BRRRR Works (Briefly)

BRRRR works best when all five legs are solid:

• You buy well below true after-repair value (ARV)

• Rehab is tight, scoped, and controlled

• Rent supports real operating expenses, not fantasy numbers

• Refinance terms are known in advance

• Your timeline matches lender rules and market reality

Miss just one? The whole thing wobbles.

Common BRRRR Failure Points (Where Investors Get Stuck)

1. Appraisal Gaps

This is the silent killer.

You underwrite to a $200K ARV. The appraisal comes back at $175K. Lenders don’t care about your receipts, sweat, or granite countertops—they care about comps. That gap can:

• Reduce your cash-out

• Force you to bring money to closing

• Kill the refinance entirely

Translation: You’re stuck longer than planned.

2. Rehab Overruns

Almost every BRRRR deal dies by a thousand “small” overruns:

• Hidden plumbing

• Electrical updates required by inspection

• Scope creep (“Since we’re a ... Read More…

 The Real Work Starts Before Things Go Wrong

How smart housing providers handle tenant issues—and stop most of them from happening

Most rental problems don’t explode overnight. They smolder. A late payment turns into avoidance. A vague excuse turns into silence. And before you know it, you’re frustrated, underpaid, and wondering how things went sideways so fast.

The truth? Strong landlords win before the crisis—through early communication, airtight documentation, clear options, and disciplined escalation. And the very best ones stack the deck upfront with better screening and real reserves.

Let’s walk through the full playbook.

Start Communication Earlier Than Feels Comfortable

The biggest mistake landlords make is waiting. Waiting feels polite. Waiting feels reasonable. Waiting is also expensive.

The moment rent is late—even by a day—communication should begin. Not aggressive. Not threatening. Just clear and professional.

Early communication does three things:

1. It shows the tenant you’re paying attention

2. It creates a record

3. It gives the tenant a chance to course-correct before panic kicks in

A friendly reminder quickly followed by formal written notice (per your lease and local law) sets expectations. Silence, on the other hand, teaches tenants that deadlines are flexible. Courts don’t reward flexibility—they reward documentation.

Document Everything (Because Memory Is Not Eviden ... Read More…