If you want to buy a house, take a dream vacation, or pay for a wedding, a bit of planning goes a long way. How much of your paycheck is saved after paying your rent, food, gas, insurance, etc? We don’t need to calculate this number to the nth decimal place. Just a ballpark number will do as a first cut. Say you’re budgeting a $20k down payment on a house and you only have $5k in the bank. Okay, you’re $15k short. Not the end of the world. So how … continue reading.
Today I have Eric Bowlin, a real estate investor and blogger who lives in Plano, Texas. I first met Eric at the FinCon 2016 last September in San Diego where I got to hang out with him and share a lot of laughs. Eric’s a down to earth guy and at a young age has achieved financial freedom through rental real estate. Eric also writes about real estate on his blog over at Ideal REI so be sure to check it out. So without further adieu, let’s get on with the interview! … continue reading.
Each month I’ve been providing an inside look into my rental properties out of state. I detail my incomes and expenses as I receive them. With another year in the bag, here’s my cash flow report for months November and December. RP#1 Here’s the roll up cash flow summary for rental property (RP) #1. Here are the highlights: Rents paid minus the usual PITIM (Principal, Interest, Taxes, Insurance, and Management. Received a credit of $205 that I paid back in September since this was really a tenant caused issue. Expensive … continue reading.
People ask me all the time why I invest where I do. I don’t live in Kansas City and I don’t have a personal connection there. When I did my research though, I realized that it had strong real estate fundamentals so I looked to build a team there. I always tell people not to pick a real estate market based solely on personal preference or circumstance. Instead pick a market using objective factors that actually impact real estate demand and value. I look at 5 major fundamentals to understand a real … continue reading.
Remember the board game Monopoly? Roll the dice and then move your token (e.g. race car, thimble, etc.) around the board. If you land on open property, then you have the opportunity to buy it. Otherwise, pay the rent if someone owns it. And don’t forget to collect $200 as you pass GO. Looking back, Monopoly resembles the real estate world quite well. The board game has 4 sides with properties that increase in value as you travel around. Properties range from the very cheap to the high end luxury. 1 house on Baltic … continue reading.
So I’m a little behind this month in publishing my cash flow report. I know it’s nearly Thanksgiving, but hey, better late then never. Truth is, I’ve been on international travel for about a month now, with another week to go. My day job sent me to the freezing cold of Russia for 3 weeks. A California boy like me had little chance at fighting off the sub-zero temps so I caught a cold pretty quickly. Weeks later, I’m still trying to shake this off. After the business portion of my trip, I’m now in … continue reading.
I’m so excited to bring you Interview #3 of our investor series. These interviews showcase actual real estate investors who are investing from a distance. They’ll share how they got started, what their current strategy is, and advice for anyone looking to get started too. Today I have Dustin Heiner, a real estate investor and blogger from California. Dustin is a great example of an investor who has put in consistent action and hard work to build his portfolio to where he no longer needs his job. Dustin also writes … continue reading.