Mexican Getaway (Living the Landlord Dream)

Mexican Getaway (Living the Landlord Dream)

 

When I grow up, I want to be on Jeffrey Taylor’s team.  Tomorrow while we’re shoveling snow in Chicago, Jeffrey will be heading up a group of resourceful landlords to a beach in Cancun.   Not just any beach but the beach outside the Marriott Resort CasaMagna Cancun.  It sounds…like something…good enough…to eat.  The website describes it as “an elegant oceanfront Mexican resort with Caribbean ambiance ideally located 10 minutes from the shopping district.”  Where the heck did I put my passport???

For the past 26 years, a group of property owners and investors have been meeting in exotic--and warm-- locations.  In some years they even take cruises (the stuff of my vacation dreams).  All current and future landlords are invited to join them.

They meet to network and learn how to strengthen their businesses through an excellent resource called MrLandlord.com, founded by Jeffrey Taylor.  Taylor is the author of "The Landlord's Survival Guide: How to Successfully Manage Rental Property As a New or Part-Time Real Estate Investor," a long-time landlord guru and facilitator of comprehensive landlord training seminars.

Isn’t it great to know that being a successful landlord does come with instructions? And drink umbrellas?

Most landlords, big and small, tend to be independent operators.  There are no real “professional” organizations like other occupations with big conventions and association meetings.  It’s true that “being your own boss” is one of the major attractions to owning investment property.  However, being a landlord can be an isolating business--IF you are not intentional about connecting with others who are doing the same things you’re doing.  Just like with dentists and lawyers and accountants, there’s always a value to getting together and sharing ideas so each person doesn’t have to re-invent the wheel.

This idea applies to landlords whose investment property is their sole source of income.  But just as much, it applies to the landlords who work a full-time job in addition to managing their rental properties after their workday is done.  These owners spend a big chunk of the day with non-landlords who might not understand the unique issues we face and the creative problem-solving required in managing our rentals.  The website says, “When you are working 40 to 60 hours or more a week, your creative mind burns out and grows stagnant….And you end up losing more than you gain from poor, uninspired productivity.”

Meeting with other landlords also helps you to be more accountable to yourself.  Seeing through direct association how managing property can be done well always helps me to try to tighten up areas in my operations which could use some improvement.

Topics for this getaway will include reducing expenses, maximizing cash flow, asset protection, creative financing, building multi-million dollar portfolios and streamlining management procedures through the use of technology.  Registration includes seminars, workshops, &  roundtable brainstorming sessions over four days. And suntan lotion. jk

Can you believe the expenses for this lovely excursion can be tax-deductible for investors because this professional development conference is considered to be a business expense? That's Living the Landlord Dream!

As much as I joke about it, being a landlord is awesome.  I wouldn’t give it up.  Being a successful landlord who networks with other successful landlords in warm, tropical places would be even better.  I’m not there yet, but I’m glad to know these types of activities exist to give me something to aim for.  God willing, I plan to be on that beach within the next four years.  With an extra slice of pineapple on the edge of my mango margarita.  And you can hold me to it.

 Would you choose to vacation with other landlords?

 

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