Author Archives

Garrett Scanlon

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Leadership is for Kids From One to Ninety Two

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Imagine you’re Ronald Reagan when he was 65 years old. You have just dedicated the last 20 years of your life implementing a policy of political leadership you hope will help your country and the world. All of your efforts to touch hearts and garner support comes down to a single vote at the national convention in 1976. The vote is 1,187 to 1,070 … and you lose.

Ronald Reagan (at age 70) at Camp David with Nancy Reagan, Photo courtesy of Ronald Reagan Library

Losing the primary at 65

Reagan had just lost the convention vote to be the presidential nominee to Gerald Ford. Reagan was 65 years old and had the financial security to retire in style. He had a large family, lots of friends, good health and many interests. He loved to spend time on his beautiful Rancho del Cielo in California, riding horses and working chores.  Ronald Reagan must have been tempted to ride off into the sunset and spend the rest of his days in well-earned retirement. Instead, he summoned the energy to put forth yet another campaign, and 4 years later became the oldest person elected President of the United States of America. Why did he keep leading? And why should we?

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Can We Learn from Reading Fiction?

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Many of us often learn more from reading fiction than non-fiction. It might have to do with an author’s literary license. or maybe it’s because fictional scenes can compile many events. Hopefully, you will gain some fun insight into the world of real estate from my new novel, Bedford Falls.

What is a Cap Rate? - Beautiful business woman with question mark above the head

Grisham isn’t losing any sleep over this, but the story goes like this …

When Danny Bedford, a firefighter and father of three young children, dies in a house fire while trying to rescue a baby trapped in the inferno, his ten year old son, Bally, comes to resent his father’s decision to take ‘too great of a risk’, and vows to always protect his siblings.

30 years later, Bally is a college sports legend and hometown hero. But disaster strikes his newest real estate development, The Neighborhood at Bedford Falls. Suddenly, Bally’s personal fortune and the careers of his entire family are put on the verge of collapse.

When a prayer is answered with a booming clap of thunder in Downtown Columbus, a sinister betrayal is revealed that will alter the Bedford family’s future for generations to come, and a kid on a bike must make the decision of his life.

A contemptible newspaper columnist, fair-weather allies, and the person who sabotaged The Neighborhood at Bedford Falls, all conspire to bring Bally to the brink of ruin.

That’s when Bally and his wife, Emily, retreat to the old neighborhood, where they learn new details about the shocking impact of Danny Bedford’s fall 30 years ago.

Their son Ryan, a renaissance priest, a beautiful violinist, and Tomorrow’s Cowboy, all have roles to play, if the Bedford family is to survive.

If you like stories of seemingly unconnected characters making huge impacts on the dreams of others, you might like this book.

Heroes are everywhere. But will Bally know where to look … when Bedford Falls?

Many of you, in real estate related fields …

might recognize yourself in some of the good characters of the book. Be confident, however, that all of the villains are purely made-up imaginations!

To learn more about Bedford Falls, visit Amazon.

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Why Investors Buy Apartments in Today’s Artificial Market

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Why people buy apartments in an artificial market

The main reason for owning multifamily property has changed …

Until recently, the top 4 reasons for buying apartments were:

  • Cash Flow
  • Appreciation
  • Principle Reduction
  • Tax Deferral

These reasons have flipped in order. Now, they are:

  • Appreciation
  • Principle Reduction
  • Tax Deferral
  • Cash Flow (if there is any?!)

The new, overiding motivation for owning real estate is Equity Preservation!

Why the change? One reason … Artificiality

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What is a Cap Rate? [Podcast]

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What is a Cap Rate? - Beautiful business woman with question mark above the head

Walking and Talking … Cap Rates!

(Podcast Transcript)

Cap Rates. You hear about them all the time, from people who specialize in investment real estate. They’ll says things like, “That property sold for a 6 cap,” or, “We’re looking for properties priced in the 9 to 10 cap range.” Today’s Walking and Talking podcast is all about Cap Rates!

Photo Courtesy of @istockphoto.com

Today, you will learn 5 things:

  • What is a cap rate?
  • The reason why so many people are often confused about cap rates.
  • The best way to remember how to easily calculate a cap rate for any investment property.
  • The five main factors that influence cap rates.
  • Why you should beware that all cap rates are not created equal!

Hit Continue Reading and listen to the Audio:

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Every Story Needs a Hero

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Teenage Rock Climber

Any author, screenwriter, or playwright will tell you that every story needs a hero. The hero is on a journey. Then, a crisis occurs; an enormous threat or challenge that the hero must defeat or overcome. Out of a cast of characters, emerges a guide; an ally that comes alongside to help the hero. There are always high stakes and a call to action resulting in a climatic outcome, which always ends in failure or success.

For a story to resonate with us, it must always have these elements. Because, well, that’s life!

  • A Hero
  • A Journey
  • A Crisis
  • A Guide
  • High Stakes
  • A Call to Action
  • A Climactic Outcome

In this true-life story, you are the hero.

You might not think you’re a hero, because heroes do not always feel particularly heroic during their high school years. They haven’t even identified all of their super-powers yet! But, they do have super-powers. You do too. The problem is,

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My First Lesson in Commercial Real Estate – Walking and Talking

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Cover of the book Walking and Talking - 57 Stories of Success and Humor in the Real Estate World of Business. Walking and talking was an early lesson I learned in commercial real estate.

I will never forget the day I learned my first lesson in commercial real estate. It came shortly after I joined a team of 25 brokers at Coldwell Banker Commercial Real Estate. They ultimately became a who’s who of Columbus real estate that included Richard Schuen, Ed Joseph, John Hall, Don Matsanoff, Greg Schenk, Chuck Manofsky, Doug Goddard, Ted Hobson, Bob Matias, Benton Benalcazar and several others.

The Day I Learned About Walking and Talking

One of those brokers was Wayne Harer. Wayne played 10 years of minor league baseball for the Red Sox and Yankee organizations and actually won the

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Why Did I Write A Real Estate Novel?

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Bedford Falls_cover_EBOOK_rgb copy

I recently released my new book, Bedford Falls.

Every time I gave a manuscript of Bedford Falls  to a friend or colleague, they’d ask, “Why did you write a novel?” The setting of the story is the world of real estate in Columbus, Ohio – a place I know and love. But still, there are always trade-offs, and writing a novel takes a lot of time, energy, and focus. So, why did I write a novel?

I suppose the answer is, like so many of you in real estate, I like to connect.

 Why do you …

  • Organize golf outings,
  • Establish real estate groups, and
  • Launch so many charity events?

Because you are connectors. You bring people together. You gravitate towards being with others.

It’s time to reconnect! This makes for a good excuse to get together.

Over the last couple of years, when it was challenging to maintain relationships, I wrote Bedford Falls, with the idea that it would create a great opportunity to get together with friends and colleagues for breakfast, a cup of coffee, or who knows, maybe even a group-luncheon or two, where all of us can reconnect! I’m open to your suggestions!

That is why I wrote Bedford Falls, a novel.

And yes, you can order the Kindle version here at Amazon.

Or click here to order a paperback edition at Amazon.

 

 

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Have You Discoverd Your Rancho del Cielo?

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The great success of the show, Yellowstone, tells us that millions of Americans still yearn for the great outdoors. For Kevin Costner it is the Dutton Ranch. For Ronald Reagan it was his Rancho del Cielo. It might be time for you to discover yours, because he beauty of the land and the mountains, the rivers and oceans, still resonates with our primal desire to be in touch with nature.

10/10/1981 President Reagan horseback riding at Camp David Maryland. Attached to a blog post by Garrett Scanlon: Where is your Rancho del Cielo?

Rawhide! President Ronald Reagan loved working with his hands, and being outdoors. And, you can see from this photo, taken at Camp David in November of 1981, that he loved to ride horses.

Photo Courtesy of Ronald Reagan Library

“I’ve often said, there’s nothing better for the inside of a man, than the outside of a horse.”

 – Ronald Reagan on many occasions.

Rancho del Cielo

This picture of Reagan was taken 7 months after the 70-year old entered George Washington University Hospital to have a would-be-assassin’s bullet removed from his chest. Horseback riding at Camp David was therapeutic for Ronald Reagan. But, Rancho del Cielo was his true sanctuary.

He called it his “Cathedral in the Sky” (Rancho del Cielo is Spanish for Sky’s Ranch, or Heaven’s Ranch).  It is where he could sort out problems while riding his favorite seventeen-hands-high