For landlords, rental properties draw small margins, so it's important to set the rent at a proper price. The best place to start is to scope out other rental properties in the neighborhood to determine a competitive starting point. Then, landlords should use online tools to compare their property to others. Certain properties and areas will have small pockets of higher-priced housing, so … [Read more...]
Financial Freedom Report May 2020
Here is May 2020 report on my path to financial freedom. This is part of an ongoing journal about exactly HOW I am achieving financial freedom in less than 10 years. Side Hustle Big Events Collected first rent for 2nd SFH rental property Continued side contract consulting work Started advertising affiliate / side hustle websites Real Estate Hustle Rental Properties (2) Gross … [Read more...]
The Core Four
Bonus Material: Get the full calculator that will calculate your returns to retire in 10 years or less The core four of investing are the four things that you can do to keep yourself laser focused on your goals so that you can better achieve them. It doesn't necessarily matter what you invest it, what matters truly is how you invest. There are four things you have to keep in mind when making … [Read more...]
U.S. Homeowners Four Times as Likely to Be Equity Rich Than Underwater
A new study that was conducted by ATTOM Data Solutions has revealed that approximately 14.5 million residential properties within the US were considered equity rich. Only 3.6 million were considered to be underwater. This means that US homeowners are actually four times more likely to have an equity rich property compared to one that is underwater. It is important to note, however, that these … [Read more...]
America Saves: The U.S. Savings Rate is Rising!
Although the pandemic has been quite harrowing on the majority of US families, there is one important positive that has come out of the national crisis. American families are officially saving more now than they have in a 39-year time span! This may be a win when it comes to added preparation, but economists fear that the sluggish spending associated with these high savings levels could wreak … [Read more...]
What New Investors Should Know About Buying Their First Property in a Recession
Many novice investors are under the impression that a recession is not the best time to start investing. Contrary to this belief, a recession can be the ideal time to make some of the best deals. Unfortunately, the kicker is that these deals are not highly secure during this time. Since we have been in a seller's market for the past decade, investors can expect a large shift in their investing … [Read more...]
Real Estate Investing Partners: 4 Types of Partnerships (& 5 Secrets to Success)
When working in real estate there a few types of deals to consider for making partnerships that can be advantageous to your goals. You can have an active partner where both parties are working towards a similar goal filling in each other's weak spots. You can get a loan partnership where the other party puts up the money for you to do the work. Another solid partnership is an equity deal where … [Read more...]
Get Your Financial Crisis Action Plan Ready
According to Richdad the world is on the verge of an economic collapse. For years he was sure that the global economy would fail before the federal reserve kept things going by introducing quantitative easing. He say this method was a cop out and just prolonged the inevitable which he says is happening right now. He feels that the Covid Crisis while not a conspiracy is just a smoke screen for … [Read more...]
Unlimited Wealth: The Many Types of Capital
When we think about wealth, we often think about financial capital. In times when financial capital is limited or diminished, we should be looking at other types of capital that we can attend to. The possibilities for wealth creation are abundant and one has to look at unconventional means of generating capital, beyond just economic capital and financial capital. During the downturn like we are … [Read more...]
The Biggest Myth About Income You Literally Can’t Afford to Buy Into
Nobody gets rich working a full time job unless they have a side business to go along with it, but at the end of the day of working that full time job, you probably don't have the stamina to even think about starting something that requires time and energy. Then you have responsibilities outside of your full time job, like kids to take care of. You need to earn money for the type of lifestyle that … [Read more...]