How to avoid rental property problem disasters? If you ever thought about investing in real estate, renting out your home or a room in your home, you should read this! Earning money from income property can make you rich or cause you a lot of problems! Finding good a tenant is not easy, but you can avoid a lot of problems by just doing a few ...
Keep Reading
Here is an Investment Tip, You Can Take Advantage of Today
Your best investment is you! Typically, we talk about savings and investing in stocks, bonds, 401K, real estate and businesses. In dollars and cents, we can determine if it was a good investment or not. Pssst, the very best investment is you! If you don’t believe me, think about the lifetime of earnings you generate. We call that return on ...
Keep Reading
How to get rich without really trying!
If you invest as little as $2,000 a year in a tax deferred account for six (6) years, you will become rich! When you are twenty-two (22) years old, you are not thinking about retirement, but you should. Time is the most important part in investing, it balances stock market volatility, mistakes and you cannot make up time! What do you need to do? ...
Keep Reading
Cheap or Frugal, which Are You?
Rich people are cheap! I normally avoid generalizations, but here a few examples to prove my point. J. Paul Getty, a certified oil billionaire had a pay telephone in his home, Warren Buffet drives a Cadillac (replaced his 8 year old car last year), and Donald Trump has his wife cut his hair. Sure, you do not have to be rich to be cheap or frugal. ...
Keep Reading
Why I Love Taxes!
I love taxes which is a huge paradigm shift for me! I used to hate taxes so much that I used the tax code to reduce my taxes to zero. Yes, that is right, I paid zero taxes for a very long time legally! When you invest in assets, you can depreciate them and use depreciation to reduce your taxes. Is that the only way to reduce your taxes? No, ...
Keep Reading
The Pros and Cons of Investing in Rental Property or REITs
I love rental property! I bought my first home when I was twenty-seven (27) years old. My next investment was a nine (9) unit apartment building when I was thirty-one (31) years old. Over seven (7) years, I accumulated more properties. By the time I was thirty-eight (38) years old, I achieved financial freedom. Investing has its risks and ...
Keep Reading
Cash is not an investment
If you have an expectation of growth in your investment, forget cash! I am referring to cash investments such as money market accounts, interest bearing checking accounts, savings and certificates of deposits. It is merely a parking space for short term savings! Investing is expending money with the expectation of achieving a profit or material ...
Keep Reading
Is It Too Late to Buy a Home?
Are you too late to buy a home at a bargain price? Home values are going up all over the country and you may be too late! If you are looking for the perfect time to buy a home, you probably missed it. Similar to the stock market, timing the market is difficult if not impossible. Real estate is cyclical and it goes up and down! The best time to buy ...
Keep Reading
How to Buy Income Property
Buying income property is one of the best ways to reach your financial goals!. Income property is investment property bought or developed to earn income through renting, leasing or price appreciation. This can be a condominium, townhouse, home, apartment building, industrial property or commercial office building. Have you ever thought about ...
Keep Reading
How To Be A Bad Investor
Making mistakes is a part of being human. We all make them, sometimes at the most inopportune times, such as my friend getting into an accident while taking the road test for his driver’s license – that’s not a joke. When it comes to investing, there are countless mistakes that we as investors can and do make. Below I present three ways to be a bad ...
Keep Reading