Realtors are we Forgetting to Help Our Selves

Reblogger Frank Rubi
Real Estate Broker/Owner with Frank Rubi Real Estate, LLC.

This was one of my earliest post here on Active Rain. I posted this when the market was still cooking along. I feel this has more application today. Realtors do have to have a back up plan; most do not. Our rental properties will see us through the bumps in the road and retirement. If rental income helps your client why not yourself.

Original content by Frank Rubi

Realtors should not forget to help themselves.

As I was sitting at a closing table some years ago, I thought to my self I should have bought this property myself. What a deal. In our quest to get deals for others we often forget to include our selves in investments property. We to have to retire someday. I don't know when, but it will happen for all of us. Our children will need their educations paid. I like to play golf and go on very nice vacations. How can we afford these luxuries? We need to purchase investment property. If nothing else for tax reasons.

Over the past twenty years, I have own several property's. All have produced significant income and appreciation. The monthly revenue is a great cash flow. The property management is manageable. So why just help others become real estate wealthy and not our selves.

In order to work with real estate investors you need to be able to explain cost. How do you understand cost if you have never bought property before. How do you explain how to handle problem tenants? One of best case example, I do not and will never provide a refrigerator in any of my units. Why you should asked, in my region the courts have held if the (landlord's) refrigerator malfunctions all the contents are the landlord's responsibility and not the tenants. That being said if the tenant has food in the refrigerator the tenant would need reimbursement for their lost if there is an issue with the unit's refrigerator.

My whole point here is pay your self. We as Realtor's help many clients everyday but once in while don't forget to help your selves.

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Rainmaker
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Lindsey Hasford
Coldwell Banker Vision - Elk River, MN

If only our rental was a positive cash flow right now. :-) That day will come again, but for now we bumble along! You have a great point here.

Aug 09, 2008 07:28 AM #1
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Frank Rubi
Frank Rubi Real Estate, LLC. - Metairie, LA
Homes for Sale Metairie, La.

Lindsey, this is a re-blog thing. I still working on understand how this work or help. The rentals will help in time. It is not the stock market. Have a good weekend. We are off to soccer and golf today. The first day. The break was good while it lasted.

Aug 09, 2008 07:39 AM #2
Rainer
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Steve Homer
The HBH Group (Keller Williams affiliate) - Round Rock, TX

Frank:  The wife and I started out as investors many years ago.  We did our own property management and just moved into the professional services business in this area 7 years ago.  Since that time we have focused on servicing the needs of investors from all over the country while still increasing our personal holdings.  This is an absolute imperative for anyone seeking financial independence!

Aug 09, 2008 07:39 AM #3
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Frank Rubi

Homes for Sale Metairie, La.
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