So, you wanna be a landlord….

The realities of dealing with a nightmare tenant

 

By Buddy Kane

 

 

 

For those of you that read “Rich Dad, Poor Dad” and utilized this playbook to acquire rental properties prior to Covid, interest rate hikes, and the vanishing of real estate inventory, Bravo! You’ve done well in acquiring rental properties that now command increasing rents and low vacancy rates. It’s good to be you. Life is even better when using other people’s money to pay your mortgages down while collecting cashflow from a hard asset in an inflationary environment. Not to mention the eventual capital gain potential over the long term. This is the good news.

That being said, it’s important to be aware that every sparkling…

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Sometimes, as much as I prioritize self-awareness and looking inward, I still manage to surprise myself with a struggle I don't see coming. My recent focus on building up my Real Estate career has shown me some flaws in my perception of work, and specifically my own self-worth regarding the type of work I'm doing. 

I make stuff; welding and metalworking, woodworking, I make furniture and fixtures, I repair machinery and motors. I absolutely love it. What brought me back to Real Estate and drives me to keep at it is its ability to let me hold on to all those things I love as hobbies. I find that supporting my family by building things doesn't allow me to take joy from it like I did before I went into business for myself. Enter Real Estate, it…

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Volatility Appears to Be the ‘New’ New Normal  

Over the past few weeks, we have been witnessing a significant change in the financial landscape in the United States. During this time, we have seen the stock market come down from its recently achieved historic highs. As the price of stocks has decreased, the value of investors' portfolios, and 401K accounts, have been impacted.  

  • Whether this is a short-term or a long-term phenomenon remains to be seen.

  • The reality is that the rapid run-up in market valuations since the election in 2016 occurred much faster than is normal, and therefore the likelihood of a correction has been anticipated for some time.  

  • What had not been anticipated, or widely understood is the swiftness…

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CONTINUING EDUMACATION

“C.E.”

 By Buddy Kane

 

 

It’s that time of year again. The weather is breaking, the birds are chirping, and once again I’ve waited ‘til the last minute to complete my continuing education credits. There is something bittersweet about a mad dash to the finish line under the wire. I must enjoy getting it done this way or I would have already taken care of business like the responsible adult I aspire to be someday.

There’s a certain measure of gratitude that accompanies 11th hour urgency. Tasks become reactionary, in a full contact sport sort a way. I’m able to make tracks quickly when the only way to proceed is forward, and fast. Wisdom, and motivation come suddenly.

In this space, I tend to think out loud…

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You may have heard the term mill rates being thrown around when talking about taxes in certain towns. Tim Bray and Andrew O'Reilly provide insight on the importance of mill rates and why knowing them can help you determine where you want and can live. 


Did you know that you can have your taxes appealed every year? Listen to learn more - available EVERYWHERE you get your podcasts or click here. 


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IMPERSONATING TODAY’S AGENT

By Buddy Kane


Greetings...

 BK comin at you with another self-realization to help you all feel better about yourselves.

As the misfit I appear to be as an agent, I’m little more than an imposter in the local real estate industry and all its foibles. How could I possibly fit the mold of an accepted agent in this elite club even if I wanted to? I don’t close a volume of deals. I don’t receive Gold, Platinum, Titanium, Round Table achievement awards, and I don’t drive a Range Rover. I’m doomed to remain a mid to low level agent that leverages a real estate license as merely one stream of income amongst other revenue sources.

A “loser”, some may say. Guilty as charged, I suppose…

So why do I assume this…

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Season five of Netflix's Selling Sunset recently ended and one of the main cast members, Christine Quinn, just dropped a huge announcement that could change the real estate game. What are your thoughts on using cryptocurrency to buy real estate? Do you think it's a good idea or will it come down crashing?


Make sure to like and subscribe to our YouTube channel! 

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SHOW YOUR WORK

By Buddy Kane

 

 

 

Got a call last week from a past client interested in selling one of his properties. Having dealt with him previously, I was well versed in his fly by knight style and approach. Upon fielding his inquiry, I listened with an experienced awareness, knowing what cues to look for that would help me cut through an extended dialogue and boil it down to exactly what it was he wanted from me. What ensued from this point was an opportunity to apply an evolving philosophy I’ve learned the hard way over a longer period of time.

First, some background to provide context. Looking back on my student years, school was not my finest hour, aside from some extra-curriculars. Academics was never a strong suit of…

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Real Estate Taxes in Connecticut can vary greatly depending on the municipality and districts within them.  The graphic above illustrates the base rates for each town. Additional rates are applied to specific locations where services are provided.  These services can include public water, sewer, trash removal,  police services, or a firehouse.  A town or district with a lower Mill rate may not offer these services.  Your real estate agent will be able to help you to determine the services offered and their importance to you when purchasing real estate. The average property tax rate in CT for 2022 is $31.29 with the highest being Hartford at $74.29 and the lowest being Salisbury at $11. 

2022 Mill Rates CT High Low

How to Calculate Connecticut Property Taxes

The…

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Commercial Real Estate Taxes in Rhode Island vary greatly by town and are typically correlated to the services which each town provides.  A town with a lower Mill rate may not offer services such as public water and sewer, perhaps waste disposal, or a firehouse. Your real estate agent will be able to help you to determine the services offered and their importance to you when purchasing real estate. The average commercial property tax rate in Rhode Island for 2022 is 20.41 with the highest being Central Falls at 42.33 and the lowest being Little Compton at 6.04.  Please note that Property taxes can have a substantial impact on the cash flow of a property making it more or less appealing to a lender, investor, or potential owner occupant.  Contact a…

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