Posted on September 7, 2008 @ 1:56 pm - Written by BawldGuy
We live our lives, making our choices, living with our decisions. One of the decisions I made long ago, was to listen to others, but make my decisions and take the actions without caring what others think. Yeah, I know, everyone says that, but how many folks do you know in your circles who live it? Exactly.
It’s not that we don’t value others’ thoughts and/or feelings, or especially their input. But when it comes to perceived best interest, whether it’s self, family, friends, the decision maker must live with the consequences, good, bad, or ugly — not their critics. You can follow the road favored by the herd, which leads of course, to shearing.
What am I talkin’ about? You. Read the rest of this entry »
Posted on September 5, 2008 @ 11:30 pm - Written by BawldGuy
Every few weeks or so someone asks me if I’ve ever published a short list of some of what I call BawldGuy Axioms. My reply is typically something akin to, “That sounds like a good idea. I’ll see if I can’t make it happen.” Well, here we are. A baker’s dozen, selected at random.
The pics? If you see a connection between the pics and the axioms, stop reading, lay down, and take a nap. 
BawldGuy Axiom: We’ve all had tough questions for which answers were difficult to find. The answers that you’ll never find though, are to the questions you never knew to ask. The consequences can be severe.
BawldGuy Axiom: Garbage in, garbage out is just the modern way of sayin’ what Grandma taught me. One of her favorite sayings was, “‘Bout the time the farmer got the old mare to work without eatin’, she died.”
BawldGuy Axiom: Grandma said, “The farmer who plants wheat in the spring is not surprised when harvesting wheat in autumn.” Translation: Invest in real estate located in growth areas, and ya won’t be shocked when yer net worth grows impressively. Read the rest of this entry »
Posted on September 4, 2008 @ 11:16 pm - Written by BawldGuy
Let’s start out with some myth busting. There’s a movement in real estate wanting folks to buy into hi-tech marketing as the be all end all of selling properties these days. Garbage. Pure, unadulterated crappola. Unless we’re gonna call the local MLS hi-tech — stop right there. ‘The local MLS being represented as hi-tech’ may be the oxymoronic phrase of the year.
When Aunt Bea can do it, it ain’t hi-tech. Just sayin’…
Do we incorporate 21st century marketing when sellin’ local properties? You bet. Does it make the difference? Eh, sometimes. What sells real estate is perceived value attached to the right price, put in front of enough serious, qualified buyers.
What sells residential income property today, especially 20 units and smaller, is the same things that sold them back in 1969. You know, Woodstock, The Amazin’ Mets, my first year as a real estate guy.
Close yer eyes and imagine yourself as a seller of San Diego income property. We’ll keep it simple, and make it a rental home in a decent area of town. Read the rest of this entry »
Posted on September 4, 2008 @ 12:31 am - Written by BawldGuy
It’s so easy to talk about moving real estate equities from here to there like your rearranging furniture in the living room. In practice it takes real experience, knowledge, and expertise to pull off. Though I’ve ‘captained’ hundreds of tax deferred exchanges (stopped counting), each one has to be executed to near perfection ‘cuz that’s the only thing the IRS understands. It’s not rocket science, which is what so many real estate folk want you to believe. Still, do it with a cocky attitude and you’ll find out in real time what a bad day’s all about.
For the record, Brown & Brown has never, not once, failed to successfully finish a 1031 exchange. How do you know that’s true? ‘Cuz I’m alive, dude! What would you do if an agent messed up your exchange, costing you six figures in capital gains taxes? Exactly.
Let’s talk nuts and bolts first. How do you sell a property in a place like San Diego these days? That’s no walk in the park, as you may have guessed. It’s not like yer able to head over to the parts store like Grandpa used to, when the family jalopy needed work.
Gonna be brief tonight.
When selling property in a buyer’s market, which is also known for it’s relatively high prices, you must be serious. I’ll only talk tonight about the first step, which is simple as pie. Read the rest of this entry »
Posted on September 2, 2008 @ 12:13 am - Written by BawldGuy
As a teenager I’d lost a sale because the buyer thought the seller was making too much money. Seems he’d researched what the seller had originally paid for the home, and was aghast at the price from which the seller wouldn’t budge. A price, mind you, for which I had abundant evidence was very reasonable.
At the dinner table that night, Dad smiled as I complained long and loudly of the unfairness of losing out on a $222 commission. (Don’t snicker, that was a lot of money back then. A round of golf, including cart, was under $10, $1 got me three tacos, a burrito, and a large Coke at Taco Bell, and $5 brought me change after filling my tank.) After he tired of hearing me whine about my tragic loss, which was about 42 seconds, he dispensed the following advice.
“Focus on, and be concerned about being happy with your side of any business transaction, while being honest and behaving with integrity. If you care about how much the other guy might be making on his side, you’re looking through the wrong end of the telescope. You should rejoice any time you’re happy with a business deal while simultaneously the other guy is also excited.”
Read the rest of this entry »