Here’s a clip from the Set and Forget Michigan Rental Property Seminar that I gave this past weekend. Property Selection is Critical Success Factor #1 for being a successful – and happy – rental property owner. The other half of the equation is Tenant Screening – which I consider Critical Success Factor #2.

I like to give my investor group as much information as possible on a project before we spend too much time or any money on it. I also like to make the process as little work as possible for them. So this morning I visited the building to get an early assessment of the repair costs for the vacant units.

Or should they? My take on this and the situation here.

And I laughed at the other guys and their purple Chivas bags. I now know WHY they had Chivas bags. These damn keys will drive you to drink.

They do. It’s time out of my schedule. It’s time away from my family. But dammit as much as I’d like to think that I know everything, I don’t. So I continue to spend the time and money on seminars and books and courses and lunches with people that are smarter than me. And the funny thing is – it pays off. yep – POSITIVE ROI! 🙂

10,000 DOW and everyone is orgasmic about the stock market being “back”. If you listen to the mutual fund peddlers over the weekend you’d never now that the market is STILL 50% BELOW IT’S HIGH.