Joey Poltor

REAL ESTATE ENTREPREURS HELLO!

Well, first of all if you havent watched my new baby please watch the video blog below as she is the cutest.

I just wanted to hit on a couple key points today. I wanted to tell you how great of a job you are doing and how proud I am to have you read my thoughts. Just by reading this, I know that you are just like me in the fact that we want more out of life and we are willing to work for it. If that isnt a description of you, PLEASE STOP READING THIS!!!

I have an appreciation like no other for people like us. I just hope you realize that we are in the worst economy since the GREAT DEPRESSION right now and if you are still standing tall with your own business, keep it going! When the market and economy turns we will be an unstoppable force. Here in Charleston, In 2007, there was around 7000 Realtors in the area and now we are under 2000 with a bunch of inactives. What does that tell you? That those of us that are left are willing to put in the work! Stop a second, give yourself a pat on the back! Congratulations!

Well, with that being said, if you know of anyone that wants to buy or sell here in Charleston or wants a renter or anything, let me know, we can all use a bit more business.

Keep working hard and believe in abundance! Believe in the universe and believe in yourself. Love everything and everyone! Be kind, rewind and all of that too!

For your viewing pleasure

Well, I am writing this one today as we all know that this recession is hurting all of us. I will tell you as a landlord of ten rental units we are hurting as well. Renters think that landlords have all of the money in the world and that the landlord just takes this money and flies off to Aruba with it on the weekends. Well, I am going to St. Croix for the weekend but it is on the AF Reserves dime. The truth of the matter is that most landlords only make $100-200 per month on their rental properties if that. I have run into and even have my own rentals that just break even and even negative cash flow on the mortgage payment. Most people just allow these to fall through to foreclosure while the respectable people try to make up the difference.

The difficult part of this is that in todays economy renters are losing work and getting ripped off which doesnt give them the ability to pay their rents which in turn sucks the landlords dry. I know the feeling as I am owed about $4k right now and am considering eviction on a couple of tenants that have always been good tenants until they were put out of work. I wish that I could help more but it isnt practical.

I know you are thinking,"You have to treat it as a business, and kick them to the curb!" I disagree with that feeling. While, Yes it is a business, more than likely I wont be able to rent the properties immediately to another tenant due to the market and these are good people. When you have worked with someone for years they become more than a tenant, and when they are having a hard time, you want to help.

If the people are bad people, drugs and drinking all of the time, kick them to the curb. Trust me I have been there as well, and I have no remorse over kicking people to the curb that are a drain on society, I even kicked a guy out on Christmas Day before. When I was in the military and just beginning this, there was a rumor about me that I shut the electricity off on my own sister's place. Thats not true at all, and my sister and I have a great relationship, but I am no stranger to bad people and doing what is necessary.

The balance is here that you have these good people that are having hard times like all of us and they have to go. It is too bad because in any other circumstances this would never happen. I try to help but once it starts to hurt the pocketbook, it has to become a business once again.

Tell me what you think and how you handle your property.

Check out my blog at www.InvestingRocks.com

Well we are going through with it and here it is. Wish us luck with the new brokerage! Check out the logo and send us some new business.

Hope you like it, if not, keep it to yourself as this is it for now anyways. Have a great Fathers day all of you real estate entrepreneurs. I just ordered our first shipment of signs today.

Check out the original post at www.investingrocks.com and our business site at www.CharlestonRealEstateInvesting.com

Thanks a bunch

So this is a very important post to me and I wanted to go briefly over it with you. Over the past few years, I have had the opportunity to meet with some very important people and these meetings have been vital in my growth as an adult as well as a real estate entrepreneur.

At one time, I was getting personal advice from a man who won the entrepreneur of the year award by a major entrepreneurial organization, had exposes in upper end magazines, and was an overall great individual. I am still in contact with a President of a local bank and was on an acquaintance relationship with the Lt Governor of the State. How did all that happen? Well, people like me and I am a helpful person. Eventually, it just ended up happening and I am very grateful for all of my experiences. One of the greatest experiences I have ever had has been to sit down multiple times with an actual billionaire who made his money in real estate. I wanted to share just a bit of this information with you. Would you like to learn something?

This man, was so brilliant that I couldn't even understand the way that he thought. All I know was that I was so awestruck at the time spent with him that it took me years to even grasp his words. He thought on so much of a greater level than I have ever seen. We talked about world economics and he even warned me about this recession that we are currently in.

He warned me of over leverage and what it was causing which was all correct and he also explained to me this. He explained that it doesn't matter how much money you make this year or even over the next couple of years. What matters is how much money you have in ten and twenty years. What he meant is what is happening to everyone right now. All of these real estate "millionaires" had so much and now that the market has corrected they are losing everything. Now I over leveraged a bit but not to the point where we were not able to manage through the down times. We are actually still able to grow and put money away but had I now been given that information, perhaps we would be in the same position that 12.5% or 1 in 8 people are in these days; foreclosure. I hope that it is not too late for you and just heed those words. A self made BILLIONAIRE is definitely someone to listen to. Thanks a bunch Jack

Well, there are a couple points to this post. First of all, I have experienced great success from all that I have learned and what I continue to learn from everyone in my life. From people with more real estate experience than me to watching my four year old little girl and how she enjoys life and everyday experiences.

The point that I was trying to show in what I had learned from Jack was that it doesnt matter how much money you make this year. If you lose it in a year than you might as well never have made it.

So good luck, make mistakes and keep pushing forward.

Check out our website at www.investingrocks.com and www.CharlestonRealEstateInvesting.com