All Forum Posts by: John Lindemann

@Michael Slockers - It was an awkward conversation to say the least.  I told him that the fence wasn't right and that for me to get any return on my investment that it would have to be fixed.  The way that it was just did not solve the problem and that I would expect a buyer to ask me for a fence allowance.  If I wanted to give an allowance then I would not have paid to have the fence fixed!

Fortunately for me, I have a good relationship with my tenant and he is a generally upstanding person.  At first he told me that he was not going to fix it and that I could just keep my money and hire somebody else.  I explained to him that I really wasn't trying to get out of paying him, I just needed the fence fixed.  After some conversation he agreed to fix it, and he has.

@Stone Teran - In my case, from what I have seen...I really do think I will have more free time.  I expect free time to continue to decrease until I am able to be self-employed, which may be many years from now.  At that point though, if I have structured my business to be able to run efficiently with only the time I have outside of my normal job then...I should have set myself up to have significantly more free time when I can quit my job.  I'd estimate about 8-9 hours per day more free time :).  But, I know I'll fill some of that time with more investing!!!

To all - I want to further clarify "free time".  As several have mentioned above...you must make time for family, and for life in general!  Don't let life slip by you without making the most of every moment.  When I say I don't have "free time" to me that means I don't have time to spend hours on my bicycle or watch as much TV as I used to...but I make time for a quick 30 minute workout and 10 minutes of YouTube before bed :).  Sometimes my "workout" is cardio mowing or wind sprints while watering the new sod, LOL.  I don't have time for a two hour date night each week with my wife, but I try to give her my full attention during our 20 minute dinners.  I don't have as much time to spend with friends but I try to give them a quick call while driving to work on my flip.  The key is FOCUS, when you are doing something, do what you need to do and do it with all you've got.  Use all the minutes you have.

Hopefully when I get to the part where my free time increases then I'll be able to spend more time with my family and friends than I would have if I had a regular job.  That's the dream.

I've heard @Joshua Dorkin and @Brandon Turner talk about being a good employee on their podcasts.  When you are working your 8-5, focus.  When you are spending time with your family, focus.  When you are investing, focus.

When you are busy you will have to say "no" to things.  Choose carefully what you are giving up.

@Carey Edmund any luck with this?  how did you generate your list based on the criteria?  did you use a specific website service?

I was reading chapter 7 of Kiyosaki's "Rich Dad Poor Dad" and he was discussing about the lack of balance in new investor's lives.  I'm definitely living the lack of balance.  I feel like I'm constantly running from one thing to the next and having to work very hard to keep all the plates spinning.  Most of the time I feel energized and encouraged because I'm working hard and I'm succeeding.  Occasionally I get worn down and need a break.  I have learned to take that break because when I take a moment to set all the spinning plates down then I don't break them and I rebuild my energy to pick them all up again and spin them like crazy!

My wife is also very successful in her career and we have had a lot of conversations recently about balance.  I've encouraged her in that we are in the time of our lives where we can work hard for a short time and reap benefits for the rest of our lives.  Kiyosaki's words tonight echoed my feelings and helped me to put words to my thoughts.  BUT...it's not easy, sometimes it plainly sucks.

I wanted to encourage those who may be feeling like we do.  You'll get through it.  This is your time.  You have arrived.  Push hard, be successful.

Winners play to win, they don't play to no lose.  Set your sights high, achieve what others can't even dream of.

I made the diagram below to represent my story so far.  I would bet many people's looks very similar.  I love working hard but I'm working hard so that my future will allow for more free time with my family!  When it's time to work, work hard.  When you have downtime be sure to savor the moment.  Like Dave Ramsey says "Live like no one else, so you can live like no one else!"

I'm currently looking for properties in Tulsa, Coweta, and Broken Arrow.  Oklahoma City is my "next frontier"!

@James Swiech my floor had some missing tiles on it too.  I bought some new tiles from Lowe's and filled the holes then put my new laminate over it.  Easy peasy...cheap!

Is it not legal to remove it yourself, DIY?

I've read that as long as you aren't sanding on it or scraping it then it isn't too big of a deal. In my one rental that had concern about the possibility of asbestos tile (judged purely on the likely age of the tile) we just put new flooring over the top of it. I read a lot about it because I did not want to risk tenants health and everything said the best idea is to just leave it be if possible but that removal was generally not considered a big risk. 

@Michael Slockers SOW! SOW! SOW!  Oh I wish I done a clearly written SOW!!!

I am meeting with him tonight to figure out how to resolve.  Fortunately he is a decent person in general and hopefully we can both walk away happy.  I'd much rather pay him the full amount for a properly repaired fence vs. not pay him anything or a reduced amount.

I do have high expectations but because of that I typically seek the opinion of my wife on such things because she usually has a better eye for what the "typical" home buyer or renter will be happy with.  In this case, she also said it was not acceptable. :(

I'm considering going into the home inspection business.  This is really appealing to me for many reasons and I'm hoping there might be some other inspectors on here that could provide some advice on becoming an inspector in Oklahoma, specifically the Tulsa and Broken Arrow markets.

I took a practice test on InterNACHI's website this morning and passed it without any pre-study.  I tend to have a very good memory for laws and regulations and I have a eye for details.  Every time I've paid for a home inspection I have noticed the majority of the inspectors comments and...every time I have noticed issues that they did not.  Not being negative here, just noting that I'm attentive to details.

If anybody is a home inspector or can put me in touch with someone who would be willing to be a mentor for me I would greatly appreciate your advice.

Thanks!

My advice...make a contract for the snow removal.  How long does he have to remove it?  Where is he to put it?  What happens if he doesn't do it before the city cites him/you?

I have another tenant that mows several properties for me, including our personal residence.  I figured...how bad can he mess it up?  Yeah...he scalped it so badly that he didn't have to mow for 3 weeks.  He made it right though, didn't charge me for that mowing and profusely apologized.  He owns a lawn mowing company though and it wasn't him it was one of his new employees that did it.  They still do my mowing.  Everybody makes mistakes after all.