Thinking Out Loud About Real Estate

Everyone Has Their Own Theories About How To Sell Or Manage Real Estate

Since I have not been without a tenant for 53 years and have sold some buildings, I have some opinions. As I have said before, do not confuse me with facts as my mind is made up. You can have your truth, and I will have my truth. That is why betting was born.

Some time ago I stated that the number one thing Single Family Home Renters want is quick and efficient repairs. Repair personnel always want to be paid yesterday so to get those fast repairs, you have to be the fastest payer in the West. Happy, long term tenants.

Today, My Thoughts On Sending Information To A Real Estate Farm

Being a home owner (21 years in our present abode) I have been the recipient of so many Farming mail pieces. They always seem to stress, “Do I want to list my home as they are short of listings, prices have skyrocketed, they have a buyer just right for our house, etc.” and then, “Do I know anyone who wants to sell their house?”  Since I am licensed as a California Real Estate Broker, I will keep that information to myself.

I keep telling people they may be wasting time, postage and trees by sending me their beautiful mailers. We haven’t moved in 21 years, and we have no plans to. Still they come.

My Thought On Their Mailers:

I honestly believe that when John and Mary are in their house having a glass of wine and talking about the future that they never out of the blue say, “Let’s call that nice person and sell our house.” I believe that homeowners have already been looking at other areas, before they decide to call a listing broker. If they do, so what.

I would make some of my mailers information about areas that they might be considering for their next home. Be their move up, move out, move down, move away expert. When we lived in our last home, several neighbors moved to similar neighborhoods. For example, we were looking in Coto de Casa, Irvine, Stoneridge, etc.

We Would Have Liked Expert Information About Areas For Our Next Home

Be a next home person. Still keep sending the listing mailer’s; just once in a while mention interesting spots where we might look. Also, stress that we get PREAPPROVED so that we know at which price level we should be looking.

Real Estate Is A Game Of Niches

I know so many people that work one area hard and become the local expert. I started out thinking that I would sell everything from homes in all price ranges to commercial to business opportunities to land to apartments to exchanges and everything in between. I soon learned and specialized in apartment houses from 20 to about 100 units, children’s buildings in the LA Basin, and syndicated them to 10 Investors with tax advantages under the rules at that time.

I built my business by teaching at UCLA at nights to Investors, wrote a column in the Van Nuys Daily News, and spoke at Apartment Association meetings. I found out after many years, I liked the teaching more and so here I am, many years later. It has been a pleasure. I have gotten to know so many of you nice people. It has been a ride.