I would like to thank everyone who has followed InvestFourMore over the last six months. In January, I was at a conference speaking on a panel, and I was asked if I use a blog to promote my business. I said no, I had never even thought about blogging. Maybe that jogged something in my brain because things have certainly changed! I think I have done pretty well for my first six months of blogging, aside from all the typos and grammatical errors. We have also been through a lot here in Colorado this summer. Here is an update on what is going on with me and the blog.
As most of you have seen on the news, Colorado has been devastated by flooding. We are right in the middle of it in Greeley and Weld county. I have been extremely lucky that none of my properties have been affected. In fact, none of my listings have been affected either, except for a very small amount of water in two basements. Unfortunately many other people have not been so lucky.
This was an amazing event we had the last week. Boulder and some mountain areas had over 15 inches of rain from this storm. We average that much rain in an entire year here! The probability of receiving that much rain from one storm is 1/1,000. Where I am at in Greeley the South Platte river is still flooding. It reached almost 20 feet, the previous record was 12.7 feet and flood stage is 10 feet. 3,000 homes in Greeley and Evans flooded and many of those were not in flood plains (no flood insurance). In Colorado almost 20,000 homes were flooded, 13,000 people evacuated, 1,000 rescued by helicopter (most since Katrina), 6 people killed and over 200 people still unaccounted for. In Weld county we had 132 bridges destroyed or damaged. It is a nightmare trying to go anywhere because traffic is diverted to only a few routes and many four lane roads are now two lane roads, because they don’t know how strong the bridges are.
For those of you who are familiar with the Big Thompson flood, this flood was worse. 140 people were killed in a flash flood in the Big Thompson Canyon in 1976. The water from this flood was higher and more destructive than in 1976. All the roads to Estes Park are destroyed and it may take a year or longer for some mountain towns to have access again.
In early August we had a massive hail storm that affected us personally. The hail damaged my personal house and multiple rental properties that I own. I have not repaired everything yet, so I don’t have a total damage figure, but so far we are looking at about $70,000 in insurance payouts.
We are mostly settled into the new house now. We bought it July 18th and it is such a pain moving and unpacking. With the storm that hit us, it has been a long process unpacking. We had damage to the roof, gutters, vinyl fence, stucco, trim, garage doors and more. We love the house and the kids do as well. We are on a much quieter street and that makes me feel much better about safety.
This summer I have been able to drive a Lamborghini Gallardo, Ferrari F430 and sit in a Lamborghini Diablo. I have always loved cars and I really like rare exotic cars. I had a goal to buy a Lamborghini Countach, but I learned I won’t fit in one. My new goal is to buy a Lamborghini Diablo, although I don’t have a time frame yet.
We switched InvestFourMore over to its own server from WordPress. For a while the email at [email protected] was not working right. If you happened to email me and I did not respond, it was probably during this time. Please email me again if I have not responded to any questions or comments.
I created my first product, which is the InvestFourMore REO starter kit. It has a lot of great information in it for anyone looking to get into REO. It also grants access to the InvestFourMore forum where I will answer all REO questions.
I hope to have some more products soon like kindle eBooks. There will be eBooks with multiple articles put together on certain subjects. I just have to find time to put them together! I may try to hire my nephew who is a high school freshman to work on putting some books together and help with proofreading the blog.
Even though my first product was on REO, the blog will continue to focus on long-term investing. I had a lot of people requesting info on REO and that is why I put the kit together. Hopefully I will have some more rental properties I can write about in the near future!
You may have noticed a lot of articles being published a couple of weeks ago. I have been going through my old articles and re-writing them. Any article that I changed significantly I published as a new article with a new title. Many of my old articles are updated with new info and better writing. A few of the articles I have updated are listed below:
Why an ARM is a great loan for investing in long-term rentals
Should I pay off my mortgage early or invest the money?
If any of you have any questions, suggestions or criticisms let me know! I love comments and hearing what you think. You can always email me, but chances are other people are thinking what you are thinking. If you post your thoughts as a comment it can help others as well.
You may have noticed I had ads running for a couple of weeks and then took them off. I was approved with WordPress ads, but they were very obtrusive and not very relevant to the blog. When I switched servers, we stopped running WordPress ads and applied with Google AdSense. I was approved this week by Google! We have some ads running now and will try to make them unobtrusive and more relevant to real estate.
I am planning to start a new blog with my mastermind group. It will be focused on personal improvement and how attitude change has helped the mastermind members improve their lives. That blog does not have a name yet, but I think it will provide a ton of great information and inspiration. I will update InvestFourMore once that blog is up and running.
I am still in the Jack Canfield coaching program and it is going great. It has taught me so many things about myself and how to improve my life. Some things it has helped with is delegation, focus, attitude, decision-making, goals, visualization and relaxing. I highly suggest personal coaching for anyone looking to improve their lives.
A huge change in my life has just occurred. For the last 30+ years my father has run the real estate team and flipping business. In September I took over the entire operation. I am now in charge of our 7 person team, our flipping business, my REO business and everything else. This will mean much more responsibility, but also more income, opportunities and control.
Hiring a Friend
Part of the reason I took over the business was because I will have more help now. My friend will start working for me next week. He has a great background in management and web design. I can teach him the world of real estate and he can get away from the corporate world. He is taking a massive pay cut and loss in benefits, but I think it will be well worth it.
I have not bought a long-term rental for quite some time (April), but I still want to have 100 by January 2023. My goal was to buy two more this year and I can still get there. I actually made an offer on a REO yesterday, but it was a low offer. Maybe I will have some good news in a few days when they accept my offer!
I did get a flip under contract yesterday, it will be the first flip on my own since I took over the business. I have five others that came with the business, two are set to close next week and the other three aren’t quite on the market yet.
This has been a fantastic year so far and things are continuing to improve every day. I have to attribute much of my success to my coaching and personal improvement commitment I started late last year. Even with all the major changes and challenges I am more relaxed and confident than ever.