Chairman's Corner with Renny Diedrich: Real Estate Investment

 Renny Diedrich  |    April 10, 2013

Real estate investment — what does that mean? Real estate investing involves the purchase, ownership, management, rental and/or sale of real estate for profit. It’s safe to assume that’s a definition we’d all agree with. But is that all it really is? No! I recall that during my interview produced by the WRA to introduce me to our membership, I was asked what homeownership meant to me. Homeownership means safety, security, family, fun, friends and relaxation. Real estate and homeownership mean investing in oneself and building a balanced financial portfolio. The financial investment element is something we can all hope to achieve. But the investment is more than just a financial one. Property owners want their investment to increase in value, and in the case of rental property, want that investment to supplement monthly cash flow. By acquiring real estate, we also make investments in our neighborhoods, communities, cities and states. That investment, in my opinion, goes far beyond the dollars and cents. It gives us a sense of who we are. My husband and I have purchased several homes over the years and have enjoyed the ups and survived the downs. Treat and manage real estate like any other long-term investment, and most likely, you will be rewarded financially and emotionally!

At the WRA, we are in the final stages of our Strategic Planning. You were e-mailed a survey last month, and we were fortunate to get some very valuable feedback. We will be finishing up within the next couple of months and look forward to sharing the results with all of you. A big “thank you” goes to Dan Kruse, Strategic Planning Chairman, for his dedication in accomplishing this mission!

We had another successful REALTOR® & Government Day event this year at the Monona Terrace in Madison on March 20, 2013! Our legislative team of Tom Larson, Joe Murray and Cori Lamont picked six important issues for us to discuss with our legislators. I am not sure if your legislators were as surprised as mine when we asked for their help in helping us raise the level of experience and professionalism in our industry. We were fortunate to have Gov. Walker speak and answer several questions from the group. We were also fortunate to hear from Justice Patience Roggensack. We have supported Justice Roggensack in her re-election to the Wisconsin Supreme Court. There are three important reasons for our support: her record on cases supporting property owners is 69.5 percent, her support on WRA-filed amicus briefs is 77 percent, and she opposed efforts to require an attorney at every closing. 

Right around the corner is the Mid-year Conference in Washington, D.C. If you have not attended this event before, I would encourage you to book this trip. It is great to share the REALTOR® and homeowner message with our friends in Washington. If you are interested in participating, please let me know, and I can discuss with you about what you have to do to apply.

Mint App

Since we are talking about investing, I thought I would share another one of my favorite apps. It is called Mint. This app, as well as its website, is amazing! Mint provides a great way to aggregate all of your real estate, bank accounts and investment accounts in one spot. Mint automatically updates with your accounts to keep your balances accurate. It also helps you to develop a budget, tracks your spending, and alerts you when bills are due and when an account has a low balance. Mint is an awesome tool and money resource, unless your spouse buys something you didn’t want them to! And best of all, Mint is free! Initially, you will take some time to input your information, but once you do, you are all set. You can access Mint from your laptop, iPad or iPhone. Enjoy!

Renny Diedrich, WRA Chairman

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