What's on the horizon?In response to a challenge presented by Praful Thakkar I am going to share my predictions for the Cody Wyoming market in 2017.As many may already know, Wyoming's greatest source of revenue is the energy industry which took a major hit in 2015. We were locally impacted as field workers left to find work in other states. This continued in 2016 and we saw a lot of upper-priced homes come on the market as upper-income employees moved to survive. Many of them had just purchased a 1-2 years prior! This didn't destroy our market, but we definitely saw stagnation.As a property manager, the impact was more profound. Due to the nature of the oil field industry, many employees are shifted around the country, making it difficult for them to set roots. The good news is, that ke... 01/16/2017

THE MANI'm not one to put another man on a pedestal. In fact, I try to avoid celebrating humans and their achievements because it seems far too many in our society are placed on pedestals for the smallest of successes. There's not better example of that than Hollywood where someone can be mediocre at their craft yet make millions and be treated like a god. Suddenly they can utter a 140-character tweet and be seen as philosophers. Or they can spend 30 minutes in front of a camera talking about a cause and seen as a Saint that will save the world. But I digress.The point of today is to celebrate a truly remarkable man, Martin Luther King Jr. He was not born into a special family. He was not handed wealth or privilege. He was not gifted with a skill that appealed to the masses. He worked h... 01/16/2017

If it's not in writing, it doesn't exist!If you want to protect your rental property, you must keep strong documentation. How should you do that? You could use a printed checklist. This is a simple way to walk through the rental, with or without the tenant, and document what you find. Here's a sample:  There are a couple reasons I don't like this. First, it's time-consuming. Second, you have to keep track of the paper. Third, it's not easy to read words on a page and correlate that to what you see with your eyes. I provide a paper checklist to all my tenants and encourage them to use it - or some other tool - to document the condition. But I personally prefer video or photographs.PhotographsBefore a tenant ever moves in, I document the condition of the home in detail. I take pictures of... 01/16/2017

January 10th, 2017 is the 100th anniversary of the death of William F. Cody, better known as "Buffalo Bill." It's a perfect opportunity to talk about a little mystery surrounding his death and burial. Enjoy!The legendThe City of Cody was founded in 1895 (officially incorporated in 1902) by the legendary William F. "Buffalo Bill" Cody, a man of many talents. He first visited the area in 1894 and learned some businessmen were interested in founding a City in the area. One of the biggest hurdles was finding a way to bring water to this high desert to ensure long-term sustainability for farmers and ranchers. Bill Cody used his significant funds and support for development of the Shoshone Dam, later renamed the Buffalo Bill Dam, the highest in the world at the time of completion. This succes... 01/11/2017

I don't mean to pat myself on the back but I've been working to make my first 100,000 points and finally got there tonight! I hope this post is encouraging to those attemptin to reah their own goals! Whether you are working towards your first 50,000 or 500,000 I am happy to help in any way I can.I'm working towards earning 500,000 points so I can earn a free ActiveRain account. But more importantly, I'm trying to develop the habit of blogging, developing my expertise as a REALTOR, and improving SEO for my web site.Thanks for all of you that have encouraged me these past few months and commented on my blogs and questions. Only 400,000 to go! 01/09/2017

What is ordinary wear and tear?  Typical definition of ordinary wear and tear is "That deterioration which occurs based upon the use of which the rental unit is intended and without negligence, carelessness, accident, or misuse, or abuse of the premises or contents by the tenant or members of his household, or their invitees or guests." In other words, ordinary wear and tear is the natural and gradual deterioration of the apartment over time, which results from a tenant's normal use of the apartment. For example, it is normal for carpeting or paint to wear out in the normal course of living. Carpets become threadbare and paint peels or cracks. Even the most responsible tenant can't prevent the aging process.Also, a court won't hold a tenant responsible for damage arising from using the ... 01/05/2017

THE SETUPAbout 30 years ago, a man walked into a real estate office looking to purchase some land. He was sent to the agent on floor duty, a seasoned REALTOR with a lot of experience.The customer looked ordinary. Dressed in jeans and an old baseball cap, he appeared to be of modest means, maybe a carpenter or some other trade. The problem is, he was standing in a real estate office in Jackson Hole, Wyoming where prices are anything but ordinary. The real estate agent took one look at him and knew he was out of his league. THE STANDARDBecause property is so expensive in Jackson, the real estate agencies shared a policy that all buyers must show proof of funds before they can look at property. After all, you don't want to spend your day showing multi-million-dollar properties to someone t... 01/02/2017

Happy New Year!We've had a blessed year in 2016 but now it's time to say goodbye to the oldand welcome in the new. We look forward to what the future holds for our family, our business, our community of Cody, Wyoming, and the entire country.  God bless you and have a wonderful 2017! 12/31/2016

The Better Investment?Many owners have approached me over the years to express an interest in purchasing an investment home. A question often asked is what type of home they should buy: long-term rental or vacation rental?It Depends.There are a lot of different factors to consider but I'll narrow it down to a few primary concerns:1. Which one costs more? A vacation rental wins this one, hands down! You have to buy it, furnish it, cover the utility expenses, pay for landscaping, and possibly even pay 25 - 50% of your income towards management fees. You can also experience greater expenses due to the high rate of turnover and increased damages, plus you have to regularly upgrade certain things like towels or bedding. Suddenly, $300 a night doesn't seem like enough! A long-term rental cost... 12/30/2016

Documenting a TransactionDo you have a plan for maintaining copies of all records? In the State of Wyoming, real estate agents are required to maintain all files for a minimum of seven years after the transaction was closed. This is easy when it comes to our contracts, addenda, and emails. But have you considered backing up your text messages?Recording Text MessagesI use a free mobile app called SMS Backup+ (click here for review) that automatically emails a copy of every text message sent or received. Once it is in my email account, it is labeled with the contact name and/or the phone number and then sent to my archives. I can easily retrieve any text message by searching for the author's name, phone number, or key words in the text message itself. It's important for me as a property m... 12/30/2016

Emotional Support AnimalsNOTE: I am not an attorney. Be sure to consult an attorney before creating a policy for your office or rental to ensure you are in compliance with the law.Emotional Support Animals (ESA) are animals "prescribed" to an individual suffering from an emotional disability such as stress, anxiety, depression, mourning, etc. The ESA does not have to be specially trained, certified, or registered. In other words, any off-the-shelf animal may be considered an ESA. I've seen dogs, cats, ducks, turkeys, llamas, and even snakes. As far as housing is concerned, a Landlord or Property Manager cannot discriminate against an applicant or tenant with an ESA because they are protected under Fair Housing Law (Fair Housing Law is not the same as Americans with Disabilities Act (ADA... 12/29/2016

The average income of a REALTOR is $45,000 which is less than the average income nation-wide. Even a successful REALTOR will make less than $100,000 a year and that's before paying all their expenses! Most agents do not have medical insurance, dental insurance, or any kind of a retirement account. It wouldn't take much to impact their livelihood if life takes a turn for the worse.Are you prepared?As you know, some agents work hard and make good money in this business but most of them treat it more like a hobby. Even the successful ones tend to forgo building long-term wealth. Suddenly they turn 65 and realize they can't continue enjoying their current way of life unless they continue working.The most successful REALTOR I've ever personally met was in real estate for 35 years. Every time... 12/27/2016

When can a Landlord evict a Tenant?The law varies from state to state. In some places like San Francisco, it is illegal to evict your tenants just for the sole purpose of renting the home for a higher rate. Read this article for an example.When can I evict?In the great State of Wyoming, evictions can take place if the Tenant fails to pay an outstanding charge or violates the terms of the lease agreement. Depending on the violation, you may have to give the Tenant 30 days to rectify the situation or as little as three days.The key is to know the law and follow it. As a member of the National Association of Residential Property Managers (NARPM), we hold ourselves to a higher code of ethics and ensure all parties are treated honestly and fairly.If you are looking for professional property ... 12/27/2016

LITTLE PONDAngie grew up in Cody, Wyoming (population 9,000) but I was born and raised in a small logging town of Gates, Oregon. After 21 years of service in the Air Force and many trips to Cody, we knew this is where we wanted to settle.Despite having grown up in a small town, I had forgotten much over the years. One thing I learned quickly is that many small-town folks are far more educated, traveled, and accomplished than I ever would be. In fact, Cody happens to be one of those towns that attracts successful people looking to settle down after an accomplished life.BIG FISHGovernor Al Simpson lives here. I've met him many times at restaurants, Sleeping Giant Ski Resort, and the grocery store. Despite being one of the best Governors in recent history, he's very down-to-earth and you w... 12/26/2016

One step at a timeThose with prior military experience will recognize the image above. This "Hell Tower" may not seem like much but most people get a knot in their stomache when they find themselves standing at the bottom and looking up to the top. It's a great reminder of how to set goals.Your goals must be realistic. In the illustration above, you could say, "I'm going to jump over this tower!" Is that realistic? You could jump and jump and jump and never make it past the first rung. You will eventually lose all motivation and give up. The next time you find yourself at a similar obstacle, you will start knowing you've alredy failed.Your goals must be realistic!There are big goals and little goals. When you have a big obstacle, like this tower, you have to break it into smaller steps ... 12/26/2016

Larry Johnston challenged us to write about new ways to stay connected. My first response? I have trouble disconnecting and now you want me to find new ways to connect?!?WHAT'S THE BIG DEAL?The image above is a joke (sort of). Even though we are in the small town of Cody, Wyoming, we do have access to all the latest technology and I try to take advantage of it. Unfortunately, many of my clients do not have email or internet, or they are just too busy to use it regularly. I could post 10 blogs, send a dozen emails, and every other trick in the book and they may never see any of it because they have busy lives and communicate by other means.As a property manager, I send monthly reports to all my owners showing their account activity. I email them regularly and send newsletters quarterly. ... 12/25/2016

Merry Christmas!We hope you were able to spend time with family and celebrate this important day. It looks like I'm working but kids are playing with toys and Angie is working on a puzzle and watching a movie, so I'm sneaking in a couple more blogs before the week ends.REAL ESTATE FORECASTNobody has a crystal ball but we can make some educated guesses (some of us less educated than others). Here are some of my predictions for real estate in Cody Wyoming and Powell. Strong sales. Last year was really good, particularly for lower-priced homes. A lot of first-time home buyers and investors ate up the inventory. Upper-priced homes were still a little slow due to an increased inventory after oil took a hit. Expect oil (and other businesses) to make a big comeback in 2017 which should help mo... 12/25/2016

Pencil or pen?I'm sitting at my desk thinking of a topic for a blog. Before my brain even kicks in, I look down at my desk and see a pencil, that archaic writing utensil that has outlived its usefulness with the invention of pens, typewriters, and the word processor.But has it? I suppose it depends on your situation. If you lose electricity, modern technology is wiped out in an instant and the most powerful computer in the world becomes a paper weight. But the pen will still work! Unless the ink is dry or your children have taken them all apart to create blow guns, lock picks, and other devious devices!The point is, we often find ourselves attracted to a new piece of technology that promises to solve all our problems (no more pencil sharpener! Type faster than you can write! Spell check... 12/25/2016

 I'm writing this post in response to a challenge issued by Grant Schneider. His challenge was to describe a business goal or action that didn't work out and how I did it correctly the second time. THE FOUNDATIONI got my Wyoming Real Estate license in 2010 and started in Property Management almost immediately. I had a lot of experience managing people, assets, and funds while serving in the military for 21 years but managing rental properties was a whole different animal.  THE FAILUREWhen I bought American West Realty & Management, we had a portfolio of 114 rentals. I knew it was improtant to familiarize myself with the owners, the tenants, and the properties themselves. So I started calling the tenants and scheduling a quick introduction and walk-through.One particular tenant was 30 mi... 12/21/2016

Christmas in Cody, WyomingI'll start with a favorite of Angie's and our kids. It's not as fancy as you'd see in the big city but this home is a local favorite. They seem to add a little more each year and we have fun looking for the new additions. It plays 7-8 different songs with The Grinch being a family favorite. Enjoy! Another favorite is a local business, Cody Trolley Tours, owned and operated by Greg Pendley. In the summer time the Trolley takes visitors through a tour of the historic town of Cody, Wyoming, founded by William "Buffalo Bill" Cody in 1901. In the winter our city holds a contest for the best Christmas decorations. Locals are taken on a guided tour with the Trolley and allowed to vote on their favorites. For the more adventurous party crowd, the Trolley can be rented ... 12/20/2016