The current education system is failing to prepare students for entrepreneurship. While it excels at readying them for a shrinking job market, it falls short in equipping them with the skills and knowledge required to thrive as entrepreneurs. As a product of this system, I find myself at 40, desperately unprepared for the entrepreneurial journey into real estate I now embark upon.

Charlie Munger famously said, “In my whole life, I have known no wise people (over a broad subject matter area) who didn't read all the time — none, zero. You'd be amazed at how much Warren reads — and at how much I read. My children laugh at me. They think I'm a book with a couple of legs sticking out.” This wisdom underscores the importance of continuous learning, especially through reading.

In light of this, I have created a reading list to provide myself with the education I should have received. This plan spans several critical areas, focusing on cultivating the right mindset, maintaining good health, building wealth, and developing essential skills. These areas I see as crucial for success as an entrepreneur include personal development and philosophy, psychology, influence, wealth, investing, economics, business fundamentals, entrepreneurship, business strategies, advanced investing, market analysis, specialized business skills, and building enduring companies.

To make this journey manageable, I have planned to read one book every two weeks, completing the list in a year. While I'm not a super-fast reader, I believe this pace is achievable and allows for deep reflection and material application. Here's my curated list of the best 26 books to guide me on this journey:

Personal Development & Philosophy

1. Mindset: The New Psychology of Success by Carol S. Dweck
2. Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones by James Clear
3. Man's Search for Meaning by Viktor E. Frankl
4. Meditations by Marcus Aurelius
5. The Power of Now: A Guide to Spiritual Enlightenment by Eckhart Tolle

Psychology & Influence

6. Thinking, Fast and Slow by Daniel Kahneman
7. Influence: The Psychology of Persuasion by Robert B. Cialdini
8. Drive: The Surprising Truth About What Motivates Us by Daniel H. Pink
9. How to Win Friends and Influence People by Dale Carnegie
10. Antifragile: Things That Gain from Disorder by Nassim Nicholas Taleb

Wealth & Investing

11. The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness by Morgan Housel
12. Rich Dad, Poor Dad by Robert Kiyosaki
13. The Millionaire Real Estate Investor by Gary Keller
14. Tax-Free Wealth: How to Build Massive Wealth by Permanently Lowering Your Taxes by Tom Wheelwright
15. The Book on Rental Property Investing by Brandon Turner

Economics & Business

16. Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics by Henry Hazlitt
17. The Goal: A Process of Ongoing Improvement by Eliyahu M. Goldratt
18. Only the Paranoid Survive by Andrew Grove
19. The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses by Eric Ries
20. Zero to One: Notes on Startups, or How to Build the Future by Peter Thiel with Blake Masters

Entrepreneurship & Business Strategies

21. The ONE Thing: The Surprisingly Simple Truth Behind Extraordinary Results by Gary Keller and Jay Papasan
22. Traction: Get a Grip on Your Business by Gino Wickman
23. Good to Great: Why Some Companies Make the Leap and Others Don't by Jim Collins
24. Built to Last: Successful Habits of Visionary Companies by Jim Collins and Jerry I. Porras

Advanced Investing & Market Analysis

25. The Most Important Thing: Uncommon Sense for the Thoughtful Investor by Howard Marks
26. Mastering the VC Game: A Venture Capital Insider Reveals How to Get from Start-Up to IPO on Your Terms by Jeffrey Bussgang

By taking control of my education, I hope to prepare myself to succeed as an entrepreneur in the real estate industry. This journey is challenging, but with a well-structured reading list and a commitment to continuous learning, I am optimistic about overcoming the obstacles and achieving my goals.

 

At Housatonic Holdings, we recognize that landlords play a pivotal role in promoting sustainable living within rental properties. As the stewards of residential spaces, you have the unique opportunity to enhance property value, attract eco-conscious tenants, and contribute to a healthier planet by implementing environmentally friendly practices. Here’s a practical guide tailored to help you integrate sustainable strategies into your rental properties.

Tips and Strategies for Sustainable Property Management

1. Energy Efficiency Reducing energy consumption is one of the most effective ways to promote sustainable living in rental properties. Here are some strategies:

• Upgrade to LED Lighting: LED bulbs use up to 75% less energy than traditional incandescent bulbs and last up to 25 times longer (ENERGY STAR).
• Install Smart Thermostats: Smart thermostats can learn the tenant's schedule and adjust the temperature automatically, reducing energy use and saving money on utility bills (ENERGY STAR).
• Enhance Insulation: Proper insulation in walls, attics, and floors can significantly reduce heating and cooling costs.
• Improve Airtightness: Seal gaps and cracks around windows, doors, and other openings to prevent drafts and maintain a consistent indoor temperature.

2. Water Conservation Water is a precious resource, and conserving it is crucial for sustainable property management:

• Install Low-Flow Fixtures: Low-flow showerheads and faucets can reduce water usage by up to 50% without sacrificing performance (EPA WaterSense).
• Fix Leaks Promptly: A small leak can waste a significant amount of water over time. Repairing leaks quickly can save water and reduce utility bills (U.S. Geological Survey).
• Install Water-Efficient Appliances: Equip properties with water-efficient dishwashers and washing machines.

3. Waste Reduction Minimizing waste is essential for sustainability:

• Provide Recycling Bins: Ensure tenants have easy access to recycling bins and provide information on local recycling guidelines (RecycleCT).
• Encourage Composting: Offer compost bins and educate tenants on composting food scraps and yard waste (EPA).

4. Sustainable Transportation Encourage tenants to choose eco-friendly transportation options:

• Provide Bike Storage: Install secure bike storage facilities to promote cycling.
• Promote Public Transportation: Highlight the availability and benefits of local public transportation options.

5. Eco-Friendly Property Practices Simple changes in property management can make a big difference:

• Use Green Cleaning Products: Use environmentally friendly cleaning products for property maintenance (Green Seal).
• Support Local and Sustainable Brands: Source materials and services from local, sustainable businesses (Sustainable CT).
• Landscaping with Native Plants: Use native plants that require less water and maintenance for landscaping.

Aligning with Housatonic Holdings' Values

At Housatonic Holdings, we are committed to sustainable development and community well-being. By adopting these eco-friendly practices, you can attract tenants who value sustainability, reduce operational costs, and enhance the appeal and longevity of your properties. Your proactive approach not only contributes to environmental conservation but also sets a standard for responsible property management, reinforcing our collective goal of creating a positive impact on our communities and the planet.

Conclusion

Sustainable property management is about making informed choices that collectively have a significant impact. By following these tips and strategies, landlords can lead the way in promoting eco-friendly living, aligning with the values of Housatonic Holdings. Embracing sustainability not only benefits the environment but also enhances the quality of life for your tenants and the value of your properties. Let’s work together to create a brighter, greener future.

At Housatonic Holdings, we believe that renters have a significant role to play in fostering a sustainable lifestyle. As tenants, you can make impactful changes in your daily habits to support a healthier environment while enjoying a comfortable, eco-friendly home. Here’s a practical guide designed to help you adopt sustainable living practices in your rental property, aligning with our values of quality, comfort, and environmental responsibility.

Tips and Strategies for Sustainable Living

1. Energy Efficiency Reducing energy consumption is one of the most effective ways to live sustainably. Here are some strategies:

• Upgrade to LED Lighting: LED bulbs use up to 75% less energy than traditional incandescent bulbs and last up to 25 times longer (ENERGY STAR).
• Unplug Electronics: Many electronics consume energy even when turned off. Unplug devices when they are not in use to save energy (U.S. Department of Energy).
• Use Smart Power Strips: These can automatically cut off power to devices that are not in use, reducing energy consumption.

2. Water Conservation Water is a precious resource, and conserving it is crucial for sustainable living:

• Report Leaks Promptly: A small leak can waste a significant amount of water over time. Inform your landlord immediately if you notice any leaks to save water and reduce your utility bills (U.S. Geological Survey).
• Take Shorter Showers: Reducing shower time can significantly decrease water usage.
• Use Water-Saving Habits: Turn off the tap while brushing your teeth or washing dishes.

3. Waste Reduction Minimizing waste is essential for sustainability:

• Recycle Properly: Follow your local recycling guidelines to ensure you are recycling correctly (RecycleCT).
• Compost Organic Waste: Composting food scraps and yard waste reduces landfill waste and creates nutrient-rich soil for gardening (EPA).
• Reduce Single-Use Plastics: Opt for reusable bags, bottles, and containers to cut down on plastic waste (NRDC).

4. Sustainable Transportation Choosing eco-friendly transportation options can significantly reduce your carbon footprint:

• Use Public Transportation: Public transit reduces the number of vehicles on the road, decreasing traffic congestion and emissions (American Public Transportation Association).
• Bike or Walk: For short trips, consider biking or walking instead of driving. This not only reduces emissions but also promotes physical health (Centers for Disease Control and Prevention).
• Carpool or Use Ride-Sharing: Sharing rides with others can lower your transportation costs and reduce environmental impact (RideShare).

5. Eco-Friendly Home Practices Simple changes in daily habits can make a big difference:

• Choose Green Cleaning Products: Many conventional cleaning products contain harmful chemicals. Opt for green cleaning products that are safer for your health and the environment (Green Seal).
• Support Local and Sustainable Brands: Buying from local and sustainable brands reduces the carbon footprint associated with transportation and supports the local economy (Sustainable CT).
• Grow Your Own Food: Even in urban settings, you can grow herbs, vegetables, and fruits in small spaces using containers or community gardens (USDA).

Aligning with Housatonic Holdings' Values

At Housatonic Holdings, we are committed to sustainable development and community well-being. By adopting these eco-friendly practices, you can help create a healthier living environment, lower your utility costs, and contribute to the broader goal of environmental conservation. Your efforts in sustainable living not only enhance your quality of life but also support our mission to build greener, more resilient communities.

Conclusion

Sustainable living is about making small, everyday changes that collectively have a significant impact. By following these tips and strategies, renters can lead more eco-friendly lives, aligning with the values of Housatonic Holdings. Embracing sustainability not only benefits the environment but also enhances the quality of life for everyone. Let’s work together to create a brighter, greener future.

Presidential election years often bring a unique blend of anticipation, uncertainty, and a bit of drama to the economic stage, including the housing market. The NYC metropolitan area and its surrounding regions within a two-hour commute are no exception. Let's explore the historic rent price performance during and after the election years for the past five presidents and what this might mean for the 2024 election season.

Joe Biden (2020-Present)

• Election Year (2020): The COVID-19 pandemic added an unexpected plot twist to the housing market narrative. Urban areas like NYC saw rent prices drop as residents sought refuge in the suburbs, leading to increased demand and rising rents in suburban and rural areas within a two-hour commute​ (iPropertyManagement.com)​​ (The Mortgage Reports)​.
• First Year (2021): As the economy began to recover, urban rent prices in NYC started to stabilize and rise. Surrounding areas continued to experience high demand, keeping rent prices elevated​ (iPropertyManagement.com)​​ (The Mortgage Reports)​.

Donald Trump (2016-2020)

• Election Year (2016): Rent prices in the NYC metropolitan area remained relatively stable, much like the calm before the storm. While market activity saw some hesitation, rent prices overall remained steady​ (iPropertyManagement.com)​​ (Sacramento Appraisal Blog)​.
• First Year (2017): Post-election, rent prices began to rise more steadily as economic policies under the new administration became clearer, boosting consumer confidence. Urban areas, particularly NYC, saw continued demand and rising rents, with suburban areas experiencing similar growth​ (iPropertyManagement.com)​​ (Sacramento Appraisal Blog)​.

Barack Obama (2008-2016)

• Election Year (2008): The financial crisis had a profound impact on rent prices, leading to significant volatility. Many areas saw decreases in rents as the housing market struggled​ (The Mortgage Reports)​​ (Sacramento Appraisal Blog)​.
• First Year (2009): Following the election and the implementation of recovery policies, the housing market began to stabilize. Rent prices in the tri-state area started to recover slowly, with both urban and suburban areas showing gradual improvement​ (The Mortgage Reports)​​ (Sacramento Appraisal Blog)​.
• Re-Election Year (2012): Rent prices continued their upward trend, with steady increases observed throughout the region. Post-election, the market remained stable with ongoing growth in rental demand and prices​ (The Mortgage Reports)​.

George W. Bush (2000-2008)

• Election Year (2000): Rent prices were relatively stable during the election year, reflecting the calm that often precedes significant economic shifts​ (Sacramento Appraisal Blog)​.
• First Year (2001): Following the election, rent prices began to rise again, although the economic downturn following the dot-com bubble led to slower growth​ (Sacramento Appraisal Blog)​.
• Re-Election Year (2004): The housing market was more stable, and rent prices saw modest increases during the election year. Post-election, the market continued to improve, with steady growth in rents in NYC and nearby regions​ (Sacramento Appraisal Blog)​.

Bill Clinton (1992-2000)

• Election Year (1992): Rent prices remained stable during the election year, with some regional variations depending on local economic conditions​ (Sacramento Appraisal Blog)​.
• First Year (1993): Following the election, rent prices began to rise more consistently as the economy improved​ (Sacramento Appraisal Blog)​.
• Re-Election Year (1996): The housing market was strong, and rent prices saw significant increases during the election year. Post-election, the upward trend in rents continued, reflecting strong economic growth and housing demand in both urban and suburban regions​ (Sacramento Appraisal Blog)​.

Key Takeaways for the 2024 Election Season

1. Short-Term Volatility: Rent prices can experience volatility during election years due to uncertainty and shifts in market sentiment. This is often more pronounced in urban areas like NYC, but suburban and rural areas within a two-hour commute can also be affected​ (iPropertyManagement.com)​​ (The Mortgage Reports)​​ (208.properties)​.
2. Post-Election Stability: Generally, rent prices tend to stabilize and often increase following an election as economic policies become clearer and consumer confidence improves. This trend is observed both in the city and its surrounding regions​ (208.properties)​​ (Sacramento Appraisal Blog)​.
3. Regional Variations: Different regions within the tri-state area may react differently to election years, with urban areas showing more pronounced volatility and suburban/rural areas demonstrating more stability. Areas within a two-hour commute from NYC, such as parts of New Jersey and Connecticut, may see varied impacts based on local economic conditions and migration patterns​ (208.properties)​​ (Sacramento Appraisal Blog)​.

Conclusion

While presidential election years bring a certain level of uncertainty and volatility to the housing market, the long-term fundamentals tend to prevail. Renters and investors should keep an eye on local market conditions, economic indicators, and policy developments rather than focusing solely on the election cycle. By staying informed and adapting to changing circumstances, individuals can navigate the real estate landscape effectively, regardless of political dynamics. After all, even in the face of election-year uncertainty, the rent must go on!

Understanding the intricate dynamics of the rental markets in Connecticut and New York is pivotal for strategic investment and community development. In 2023, we've seen significant fluctuations in Fair Market Rents (FMRs) across various counties, with notable increases in Litchfield, Fairfield, and Westchester counties, among others. These adjustments reflect broader economic trends, including the evolving preferences of renters, shifts in work habits, and the challenging balance between supply and demand.

The competitive landscape of the rental market is increasingly shaped by the limited supply of new construction, changing rental preferences, and the return to office work, influencing migration patterns back to metropolitan areas. Additionally, the economic climate and government policy play crucial roles in shaping the rental market's future. For example, fluctuations in rent prices and the anticipation of increased listings in New York City hint at a market that is constantly adapting to new challenges and opportunities.

At Housatonic Holdings, we are keenly aware of these market dynamics and the potential they hold for strategic investment. Our approach is to capitalize on the supply-demand imbalance by diversifying our portfolio to include a mix of small apartments, townhouses, and multifamily units, catering to the varied preferences of our tenants. We also emphasize enhancing the value proposition of our properties through upgrades and improved tenant services, ensuring we stay competitive in a fluctuating market.

As we look toward the future, we recognize the importance of adaptability and strategic planning in responding to economic indicators and migration trends. Our investment strategy is designed to not only navigate but thrive in the face of these changes. By closely monitoring local economic trends and adjusting our approach accordingly, we aim to continue providing high-quality, sustainable living spaces that meet the needs of our communities and ensure the longevity and success of our investments.

In conclusion, the rental markets in Connecticut and New York present a landscape rich with opportunities for those willing to navigate its complexities. Through a combination of market insight, strategic investment, and a commitment to community and sustainability, Housatonic Holdings looks forward to shaping the future of real estate in these vibrant regions.

At Housatonic Holdings, our commitment to creating quality, comfortable, and sustainable homes is embodied in the 'Pretty Good House' concept. This philosophy drives our approach to real estate development and property management, ensuring that our tenants enjoy superior living conditions while positively impacting their communities and the environment.

What is the 'Pretty Good House' Concept?

The 'Pretty Good House' (PGH) concept is a practical, balanced approach to building and renovating homes. It focuses on achieving high levels of energy efficiency, comfort, and sustainability without unnecessary complexity or excessive costs. The goal is to create homes that are "pretty good" in every aspect—functional, durable, environmentally friendly, and affordable.

The PGH concept emphasizes:

1. Energy Efficiency: Reducing energy consumption through effective insulation, high-performance windows, and efficient heating and cooling systems.
2. Comfort: Ensuring a comfortable indoor environment with consistent temperatures, good air quality, and quiet living spaces.
3. Sustainability: Using sustainable materials and construction practices to minimize the environmental footprint.
4. Affordability: Balancing the upfront costs of construction or renovation with long-term savings on energy bills and maintenance.

How Housatonic Holdings Applies the PGH Concept

At Housatonic Holdings, we have embraced the PGH concept as a cornerstone of our real estate strategy. Here’s how we incorporate these principles into our projects:

1. Thoughtful Renovations

Every property we acquire undergoes a thorough assessment to identify areas for improvement. Our renovations focus on enhancing energy efficiency, such as upgrading insulation, installing energy-efficient windows, and modernizing HVAC systems. By prioritizing these upgrades, we create homes that are not only more comfortable but also more economical to live in.

2. Sustainable Materials

We choose materials that are durable, low-maintenance, and environmentally friendly. This includes using recycled or sustainably sourced materials, low-VOC paints, and energy-efficient appliances. These choices help reduce the environmental impact of our properties and contribute to healthier living environments for our tenants.

3. High Standards of Comfort

Comfort is a key aspect of the PGH concept. We ensure that our properties provide a comfortable living experience by maintaining consistent indoor temperatures, reducing noise through soundproofing measures, and improving indoor air quality with proper ventilation systems. Our goal is to create a home where tenants can relax and thrive.

4. Long-Term Affordability

By focusing on energy efficiency and durable materials, we help tenants save money on utility bills and reduce maintenance costs. The PGH concept emphasizes cost-effective solutions that offer long-term benefits, making our homes affordable in the long run without compromising on quality.

5. Community Impact

The benefits of the PGH concept extend beyond individual homes to the broader community. Energy-efficient, sustainable homes contribute to lower overall energy consumption and reduced greenhouse gas emissions. By improving the housing stock in our target areas, we also boost local property values and foster a sense of community pride.

The Tenant Experience

For our tenants, living in a 'Pretty Good House' means enjoying a home that is well-built, comfortable, and affordable. It means lower utility bills, fewer maintenance issues, and a healthier living environment. It also means being part of a community that values sustainability and quality of life.

Our tenants can take pride in knowing that their home is part of a larger effort to create a more sustainable and equitable real estate market. At Housatonic Holdings, we believe that everyone deserves a "pretty good" home—one that meets high standards of efficiency, comfort, and sustainability without the high costs typically associated with premium housing.

Conclusion

The 'Pretty Good House' concept is more than just a building philosophy; it's a commitment to creating better homes and stronger communities. At Housatonic Holdings, we are proud to apply this concept to our properties, ensuring that our tenants enjoy superior living conditions while contributing to a more sustainable future. By focusing on energy efficiency, comfort, sustainability, and affordability, we provide homes that truly make a difference—for our tenants, for our communities, and for the environment.