Austin Business Journal released an article this morning titled "Austin City Council moves to tighten reins on short-term rentals"Political Significance: City council voted to approve an amendment to be drafted to City Code that governs STRs.

However, it had a similar effect on sellers, many of whom cannot stomach selling a home with an extremely low-rate mortgage just to buy another a 6-7% rate.According to the Wall Street Journal, “Almost 70% of households with mortgages have rates below 4%.”To drive it home, though, take a look at this chart of median single-family prices in Austin for 2022 (including December so far):The median single family home sold in November for around 20% less than the median home in May 2022, which appears likely to be the high water mark for some time to come.

This realization alone was a huge gain.One of this year’s big gains was overcoming analysis paralysis after years of educating myself about private real estate investing.The photo shows my initial entry in Brandon Turner’s Intention Journal, dated 1 Jan 2022.

I just try to reset myself and I'm trying to practice more journal-ing. 

So I kicked the habit - I stopped going to seminars and started to apply some of those ideas that were preached by speakers who were experts at extracting fees from me.I started to attend real estate auctions, studying the process - watching others make a lot of money - I decided to get a credit line - increase my credit card limits and started looking for properties (cheap- ugly buildings) in the neighborhood where real estate auctions were taking place - my primary goal at this time was to learn the market in the area where I wanted to control real estate - I would look at 50-60 houses (but made no offers - when agents would try to qualify me I just said "I have a small inheritance and will not need financing) - I kept a journal of the price per square foot,  comparing properties, and all comments made by sellers and agents (this helped me to find the seller dominate selling motive),  that was helpful - but I soon discovered that I was just looking for real estate in the conventional way  - I needed to do something else - so I started to look for owners of real estate who had problems (I applied Power Prospecting formulas) and at the same time studying creative real estate techniques from the old masters in the industry - became a member of the Washington Real Estate Exchange, hosted a real estate investor club and started to give mini creative financing seminars  while networking with those I wanted to emulate. 

Specifically, I'd like to hear how you deal with memorized transactions or journal entries, since in Appfolio it is quite a process.

Practice FSBOs script my listing presentation stuff like that. 8-9 morning ascent we chat our affirmations, write in our journal for ten min of things we are grateful for and things we want then we have a motivation message by one of the brokers or owners of the company. 9-12.

Thanks a lot I glad I made the discussion to purchase the journal and I know that I will more than exceed my goals.  

Our good friends Jabob Blackett and @Sterling White were the subject of this amazing write up in the Indianapolis Business Journal.  

Example (Dr = Debit, Cr = Credit):Purchase the property and rehab:Dr: Inventory - Acquisition Costs - $20,000Dr: Inventory - Rehab Costs - $80,000Cr: Cash (or loan) - $100,000Selling the property at a gain:Dr: Cash - $120,000Dr: Cost of Goods Sold - $100,000Cr: Inventory - $100,000Cr: Revenue (Sales) - $120,000Selling the property at a loss:Dr: Cash - $90,000Dr: Cost of Goods Sold - $100,000Cr: Inventory - $100,000Cr: Revenue (Sales) - $90,000In the third journal entry, your Cost of Goods Sold (an expense) exceeds your revenue which will translate to a net loss on your P&L.