Real Estate and Beyond Blog: Harry F. D'Elia, Investor , Mentor, CSSN Radio Coach, REOs, Networker, ePRO, CDPE (Properties R Us LLC)

HI HARRY! MY TENANT HAS NOT PAID THE RENT IN THREE MONTHS. WHAT CAN I DO? ARIZONA PROPERTY MANAGEMENT

It has been my experience that many Americans are still going through rough times when it comes to money and jobs. American Corporations continue to cut jobs to save money on the bottom line and improve operations. Is there something wrong with it? No! However, it does have repercussions on the local economy. Furthermore, many large to mid-size companies are not giving annual raises due to cut backs.

Many people believe that property management is easy. Really? I receive a call the other day from a husband and wife that are having problems of their tenant paying the monthly agreed upon. I spent 45 minutes on the phone. I was able to earn their business. I now manage a property with a tenant being late on the rent. What to do?

I politely ask the owners to send me over a copy of the WRITTEN and SIGNED lease when it comes to Arizona Property Management. I need to know the terms of the contract between the landlord and tenant so I can enforce them. Well, she sent me over several Emails explaining the terms of the agreement. However, I still did not receive a signed lease between both parties.

I phoned the owner to personally ask for the signed lease. She informed me that the lease was never signed by neither party. This means we do not have a lease. We have tenants leasing a property without an executable lease. WOW! We have people practicing real estate without a license. The tenant owes the owner about $3,000 in rent, late fees, and other expenses.

Properties R Us LLC only charges $60 per month per door when it comes to Arizona Property Management. This is the best deal in Phoenix, Arizona, when it comes to property management.

Meanwhile, I am in discussion with current tenant who is currently overseas until next month. We need to have both sides to sign a lease to we have an agreement between both parties. Are you covering your assets? Oh! The owners do not have this asset in a legal entity just their personal names. Surely, they are need of my expertise when it comes to Arizona real estate investing.

Please call on me when you need affordable Arizona Property Management! Only $60 per month

$3,000 owed by tenant/$60 per month property management=This money would of paid for FOUR years of property management. Make the call Today

THE ROAD LESS TRAVELED IS LONG BUT JUST DO IT

Happy New Year 2012. I am writing my first blog of 2012. Many of you have been asking about Harry D'Elia. I would like to thank many of you for inquiring about my presence and well being. We all face challenges in life from time to time. Well, my challenge was last year about this time. I would like to announce that the roller coaster ride has ended for me and my family. It feels good to be normal and to get down to business. So, what happened to Harry that was so tragic.

My wife of 21 years embarked on a journey back to Louisville, KY, to settle her parents affairs. We only calculated her being gone for two months. It lasted nine months. Both of my inlaws were diagnosed with dementia. So, the plan was to empty the house and put it on the market for sale. It sounded like a logical plan when it comes to real estate. Right?

Well, we had to go through 40 years of personal belongings which is never easy. Then, we discovered the home had structural issues that had to be dealt with at the same time. This meant obtaining bids from licensed professionals in the local area and completing the work. We decided to enroll our kids into the public school system. I had to go back to Phoenix, Arizona to continue my real estate business and to take care of my inlaws. It has been a long road.

Also, I decided to join a new real estate company that offers full real estate and property management services to the public. I have never practiced property management. I had to learn this part of real estate from the grown up. Wow! I have a new respect for property managers. Currently, I manager well over 100 units and counting. I am now able to offer my clients a true ONE STOP solution when it comes to real estate

• ACQUISITION
• REHAB
• PROPERTY MANAGEMENT

My life was put on hold last March of 2011 when my father in law died. I flew out to Kentucky to bring my family back home. It was a long and hard trip. We buried my father-in-law with full military honors here in Arizona. It was a great day as they had arranged two planes to fly over his burial services. Picking up the pieces is never easy in one's own life. However, I believe we are a better family after it. I was learning a new part of real estate, closing deals, and taking care of my sick in-laws. I do not regret one thing about it.

3 LESSONS I HAVE LEARNED FROM THIS LIFE EXPERIENCE

1. FAMILY FIRST AT ALL TIMES IN LIFE
2. I CAN DO IT
3. ASK FOR HELP IN YOUR CIRCLE OF INFLUENCE

IT IS NICE TO BE BACK WITH MY AR FAMILY

HELLO HARRY! MY SECURITY DEPOSIT WAS SHORT $114 ARIZONA PROPERTY MANAGEMENT

Property management is one of those items that many real estate investors have decided to do it on their own until the tenant stops paying rent. Properties R Us LLC in Phoenix, Arizona, offers Phoenix Property Management for $60.00 per month. What do I get for $60 per month? I get this question a lot from real estate investors. I tell them cash flow.

Recently, one of my tenants informed me that they had suffered job loss and need to vacate the property before the end of the lease. Tenant gave me 30 day notice to vacate. However, this does not mean tenant can break the lease without the owner and tenant agreeing upon terms. The lease is a contract between two parties. Properties R Us LLC is the middle point of contact between the two parties.

I informed the tenant on what we can do and cannot do. I immediately put the unit back on the market for rent. I had one perspective tenant that loved the home. He put a nonrefundable deposit on the home. I informed the current tenant that I have found a replacement. Owners agreed to return security deposit based upon a MOVE INSPECTION. I think the tenat forgot this part of the agreement.

The maintenance department performed a move out inspection as scheduled. The tenant was being charged for the following items on the move out inspection:

We explained to the tenant that the following charges were part of the agreement. We do the best we can to please both sides. The new tenant is very happy with the unit. It is time to rent the other units out this weekend.

TOP 10 WAYS TO GET ONES FINANCIAL HOUSE IN ORDER BEFORE THE END OF THE YEAR

Everyone one I know including myself is cutting back both in business and personal budgets to overcome this dip in the economy. There is nothing wrong on reevaluating the budget here and there to save money. I am glad that people are going back to basics. I know many people that were using their house as an ATM machine. That was wrong. Here are my personal tips on money management

1. Overall Snapshot of my Financial Picture right now
2. Obtain a second quote on all of my insurances from insurance broker
3. Do not count on that bonus this year
4. Take better control of one's money
5. No more impluse buying
6. Pay cash no credit whenever possible
7. Obtain a copy of ones credit report to check for mistakes
8. Put money away for retirement
9. Purchase rental house for retirement
10. Put away money for college costs

IT IS GREAT TO HAVE A MENTOR IN MY LIFE. HOW ABOUT YOU?

Real estate is heating up. There are many more real estate agents entering the market because they see easy money. We have to love these seasonal agents. However, professional agents make the difference. Personally, I have had a mentor since I came into the business. I believe this is why I am still in the business.

Why have a mentor?

1. Accountability
2. Learn from a master in your field
3. Learn to reflect
4. Solve problems faster
5. One is not alone in life
6. Get an honest opinion
7. Brainstorm
8. Have balance in life
9. Friendship
10. Networking

Great Hints to Find a Mentor

• Do not settle for second best. One must have a direct relationship with the mentor. I would advise having a real person and avoid long distance mentoring.
• Set up realistic times to meet. There will be a time commitment for both sides.
• Ask for character references
• Complete a thorough background check on the individual

Conclusion

Having a mentor is the best investment at this given time in one's life in my opinion. I truly believe that the right mentor will have a direct impact in one's life personally, professionally and financially. 

OPEN QUESTION TO AR

DO YOU HAVE A MENTOR IN YOUR LIFE TODAY?

WHAT ARE YOU DOING ON MONDAY MORNINGS TO PREPARE FOR THE WEEK? TIME MANAGEMENT IS THE KEY

We all have different ways to start the beginning of the week. We have a set standard that gets us from Monday to Saturday each week. I have read a couple notes on how different people start their week. Let me share my little ritual each Monday morning.

1. Look over my schedule for meetings for this week
2. Reschedule any meetings missed the week before
3. Make a list of people to call on Monday
4. Follow up on offers made over the weekend
5. Search MLS for good deals
6. Post on Active Rain
7. Go over personal and business schedule with my wife to we are prepared for the week
8. Exercise for one hour
9. Fresh coffee made-Ah
10. Schedule Friday Night Fun day

This is how I start my Monday mornings.

How do you start your week off? I like #9 myself.

ARIZONA REAL ESTATE INVESTORS EDUCATE THEMSELVES FOR LONG TERM RETIREMENT PLANS

Real estate investors are realizing much more attractive returns due to the multiple income streams from real estate investment that include the following:

Appreciation: The Greater Phoenix area has a track record of steady appreciation between 5-6% in a normal market based upon historical data. This is an automatic savings account for many people. The offers opportunity down the road as one holds onto the property as the value continues to appreciate. This provides to open a line of credit to invest in other investments offered by Real Estate and Beyond Network.

Rental Yield: The percentage yield from the rental income. This can be calculated as either gross or net. Experienced real estate investors use the net method.

Inflation: Inflation has a direct relationship with rents since rents increase as inflation increases. Mortgage payments are set in stone on a 30-year fixed mortgage. Currently, the Phoenix market is experiencing heavy foreclosure activity. There are plenty of renters here in the Valley of the Sun.

Leverage: If used correctly, this is one of the ways many people increase one's personal wealth. Leverage does involve risk that must be considered into the equation.

Principal Reduction: An investor will be in much great position if one uses the monthly cash flow to pay down the principal of the loan over a period of time. So, the principal of the loan decreases as the appreciation of the investment increases over time. Again, this is part of the leverage as discussed above.

Distressed Homes: Educated investors seek distressed properties to take advantage of the equity opportunity. The Real Estate and Beyond Network provides services to find, fix, finance and fill with a tenant. We have provided a one stop shop for our real estate investors. Please feel free to visit www.deliateam.com to search for homes.

Tax Advantages: One of your best partners in real estate is Uncle Sam. Everyone has an Uncle Sam on their side. The US Government forces all real estate investors to depreciate one's residential investment. Plus, one can deduct any expenses to the property such as any improvements, property management fees, closing costs, etc. The Real Estate and Beyond Network has a CPA to go over these tax advantages for every investor.

Retirement: The rules have changes on Wall Street. Many people are looking at real estate to be part of their retirement plans. However, many people shy away from real estate because one does not understand the power of real estate. The Real Estate and Beyond Network is here for you. We walk people from A to Z when it comes to real estate investing. Learn more on how to use Self Directed 401k monies to purchase real estate for retirement.

Leave a Legacy: Webster's dictionary defines legacy as money or property bequeathed to another by will. Tell me which parent does not want to better the next generation. We all strive for leaving a legacy. We at the Real Estate and Beyond Network strongly believe in this philosophy.  

SUNDAY PHOTO

Here is a kitchen that was installed by one of my investors that does this for a living. He purchased all the cabinets on Craigslist for $500. Wow-it pays to shop on Craigslist when doing Phoenix Fix and Flips. I informed him that I purchase all of my items on this site. So, he did the same. This kitchen really stands out. It was on the market for eight days and received full market offer. Real estate is a team sport. Sharing each other's resources makes it happen for everyone on the entire team.

ARIZONA SHORT CLOSES ON THE LAST DAY SELLERS MOVE IN 24 HOURS OR NO SALE

Here is a picture of a closet full of shoes that were left behind from a family that needed to move in 24 hours or my buyer was not going to purchase the home. The seller had plenty of warning to move from this house. Yes, it was a divorce situation. The Ex-wife was getting back at her husband by refusing to move. I informed the selling agent that we need to ensure the house is empty before 5 PM.

Well, there were three moving trucks and nine people moving items from this home. There were things everywhere both in the front and back yard. Some of the neighbors were willing to buy items from the lady to relieve the load.

I was able to conduct the final walk through with items still left in the home. However, the ex-wife said she had enough and left the remaining items in the home. Yes, it was mainly junk. So, we secured the home by installing new locks. My crew started the next day to trash this home out.

Just another Done Deal with Delia.

GARAGE SALES GREAT BARGAINS AND GREAT PLACES TO DO REAL ESTATE

It is that time of year again. I am starting to see garage sale signs all over the Phoenix area. How many people love garage sales? Personally, my wife and I have a garage sale one time per year in order to remove junk from our house. Plus, it shows our kids not to be pack rats. Furthermore, it is a great way to make a few hundred bucks in a few hours depending on what one has for sale.

We have been doing garage sales for the last seven years. It is a great way to meet people in your neighborhood. I have a stack of cards ready to hand out to every person who comes my way. Hey, it is my house so I pass out my card. I have received on great lead each year. Now, I have some people that  refer me because they met me at a garage sale.

It pays to clean! A garage sale is another great sign that people might be moving. So, I stop at a few garage sales as I am driving around on the weekend. I always ask the people their motivation for the sale. There are times when they are moving and they do not have a Realtor. Great place to obtain listings and buyers.

Tell us more about your experiences when you attend neighborhood garage sales.