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.
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.
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.
Have you ever walked into a 31-flavors Ice Cream and just stood there completely undecided? For anyone with a sweet tooth like me, you know how this indecision feels. There’s a plethora of options to choose from! From the classic Chocolate Chip Cookie Dough to the sweeter Pralines and Cream. I also love anything with a coffee flavor. 3 samples later and I usually just opt for the Chocolate Chip Cookie Dough. Similarly, when you’re picking a real estate market to invest in, the vast array of options can be overwhelming. There are your local … continue reading.
Welcome to my September 2016 cash flow report! Each month I document how my rental properties (RP) are performing in order to track my monthly cash flow. I share both the good and the bad, as well as any lessons learned from investing in out-of-state rentals. For these income reports, I’ll report everything as they occur. That means if no rent came in, there will be a big fat zero. The same goes if there were no maintenance issues for a given month. Without further adieu, let’s jump into this month. RP#1 Here’s the … continue reading.
Investing in real estate can be a risky business. Some risks are to be expected. When owning a rental, there’s going to be periods of vacancy. Heck, I just experienced over a 2 month vacancy. There’s also going to be maintenance and repairs that as the owner, you’ll need to budget for. While all rental properties are susceptible to these risks, other risks can be disastrous. Some homes are located in very high risk areas just waiting for a calamity to strike. Take what happened this past summer for example. The massive Blue Cut wildfire … continue reading.