We enjoyed this excerpt written by Warren Buffett on real estate investing. We took away the following lessons: -“You don’t need to be an expert in order to achieve satisfactory investment returns.” -“Focus on the future productivity of the asset you are considering.” -“…I am unable to speculate successfully, and I am skeptical of those who claim Read more about Warren Buffett on Real Estate Investments[…]
A property owner recently emailed me to send them our “tenant relations program.” I responded with an email that began, “Our tenant relations program?” I asked. “Uh, we don’t have a tenant relations program. It is not a list of tasks that we do. It is more foundational than that. It is who we are and permeates all our relations with tenants.” The email went on to list what follows:
All of our service staff who relate to tenants (Brian, Ingrid, Sarah, Jessica, Julia, Marc, Luis, Matt & Kelly Kelly and the 30 vendors we employ on a regular basis such as plumbing or a/c service) have a service rather than a sales orientation. Jessica, for example, has worked as a genius at Apple. Luis, one of our two in-house handymen, is a paramedic/firefighter and spent seven years working for ServPro doing the same kind of work he assists us with. I was a pastor for 20+ years. We are all people people.
There are two main considerations: costs and safety. If you want a pool, it is a much more economical to buy a home with an existing pool rather than to install one. If you buy a home with a pool it may add $10,000 to the price whereas installing the same pool in the same house may cost $40,000 in today’s dollars.