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<<<What have you done in your real estate business that made it possible to take 9 months off (mostly)?>>>
It’s applying the things learned from people like you, Miller, Schaub, Fortunato, etc.
My real estate has never been much of a “business” in the business sense, but more of an investment activity. One can spend a lot of time in things like heavy buying and selling, rehabbing, etc. Or one could just get rentals or joint ventures in place and watch them grow. Management is easy, most always done on the phone. I’ve got back up people for new rentals, should I need that, but a lot of my deals are hands off where I let someone else do the work and I put up perhaps a bit more money, so really nothing to do.
I hire most everything that needs to be done, except the initial rent up, but have trusted people that can do it. Even in rehabbing, I don’t touch a hammer or pick up materials, but it can still be time consuming. Don’t have any rehabs for now.
I’ve never worked real estate full time, so I could always take some time off.
First, I could argue to have a power of attorney so you have owner privileges with banks, etc. Just easier.
Second, if you pay off the lein, have them send YOU a satisfaction and YOU record it, then you know it’s done. Should be an issue. The originator doesn’t have to be in the picture, just the lender.
Jackie, I’ve had a few times when the lender did not send anything to anyone, until I asked for it, but was easy.
That’s a really good post and food for thought.
Yes, I’m talking off 9 months in 2018 to take my boat around the great loop. Easy to keep up with things via internet and email, and I’m almost 100% paperless, too (but you never get there). I’ve got some real estate friends that do the same. One guy has done this three times, working from his boat. She drives while he works and visa versa, works great and they take every other day off to enjoy the sites.
I like that profile.
And, heck, if there were a bit issue, just fly home for a few days.