Misc News

We live life forward; we understand backwards.
William James

When the race seems lost, when the odds appear unbeatable, when the pain is too much… run on – never quit!
Glen Cunningham

The following was written by the late Erma Bombeck
after she found out she had a fatal disease.

If I had my life to live over, I would have talked less and listened more.

I would have invited friends over to dinner even if the carpet was stained and the sofa faded.

I would have eaten the popcorn in the 'good' living room and worried much less about the dirt when someone wanted to light a fire in the fireplace.

I would have taken the time to listen to my grandfather ramble about his youth.

I would never have insisted the car windows be rolled up on a summer day because my hair had just been teased and sprayed.

I would have burned the pink candle sculpted like a rose before it melted in storage.

Your bookkeeping system can be quite simple. Do it in an accounts book, or, even better, use one of the many accounting programs available for your computer. (Quicken and Microsoft have excellent systems.) Set up your system so that you have two separate pages, one for income, the other for expenses.
If you have multiple properties, you don't need a separate checking account for each, but you do need a separate bookkeeping account for each.

The first rule of managing your real estate investment property is to set up a separate account for it Don't commingle your rental monies with your personal monies. It's too hard to keep them straight, and it can be difficult later on to explain things if the Internal Revenue Service has a few questions.

Most savvy landlords don't accept any late rent at all. If more than a day or two late, they call or check with the tenant to see what the problem is. With a good tenant, it's usually an over sight, and after that the rent's right on time . With a bad tenant, it'excuses. It the rent's more that a week late with out sufficent explanation, savvy landlords send an official notice.

Take a Look-See !

http://www.bornagainamerican.org/index.html

Sometimes we can learn more from a man’s errors than from his virtues.
Benjamin Franklin

Success has many fathers, but failure is an orphan.
Confucius

If you haven’t heard, last Friday (01/15/10) FHA has agreed to purchase loans that are created within less than 90 days from the previous purchaser. This waiver is for one year, beginning two weeks from now - 02/01/2010. Now gives the private investor has the same opportunities that were afforded banks and mortgage companies in a similar waiver that was given to banks and mortgage companies in the summer of 2008.

In other words, it is no longer a criminal act for a private investor to flip a property!!! This is more than just a tacit admission by the government that the private investor in the real estate industry is a REQUIRED element for a vibrant and prosperous real estate industry to function properly.