The 4 Ways to Make Money with Rental Properties

The 4 Ways to Make Money with Rental Properties

For those of you who have been regular readers, you know that I’m starting to get a little more involved in the real estate world with rental properties.  As of this posting, I have a single-family home that I’ve been renting out for several years now and I recently purchased a duplex.  I think that owning rental properties is not only a great way to start an income stream, but it’s also a hedge against having almost all our eggs in the stock market basket with our 401(k)s and Roth IRAs. Although I’m now on my second property, I’m only now starting to get just how profitable investing in rental properties can really be. So without further ado, here are the four ways

The Rental Property Investment Chase [Part 3]

The Rental Property Investment Chase [Part 3]

It’s time for the final segment of this series.  In Part 1, I talked about how I decided that it was time to stop letting life pass me by and get back on track with finding another rental property.  In Part 2, we went over the deal that we had found on a good duplex.  Now, I want to give you an update on where things stand with the duplex. We closed on the property in mid-December (2015) and everything was actually pretty smooth for that fun ride.  Then I got right to work on it. First of all, let’s make it clear that I’m not the handiest guy. Wait, what, Jim??  You always come off as being wonderful at everything.  Tell

To Reveal or Not to Reveal My Numbers…

To Reveal or Not to Reveal the Numbers...

We’re coming up on a year of my site’s first post in a couple of months and with that, I’ve been able to really get to know you guys as well as some of the other financial independence sites out there.  As I’ve been investing a lot more of my time reading the other blogs, I’ve noticed that it really makes for an interesting read to see where people are at on their journey.  One of the dilemmas that I’m facing is whether or not I should reveal my numbers to continue building my site. When I’m referring to my numbers, I’m talking specifically about our net worth.  I’m thinking it would be nice to be able to show where we’re at

3 Mistakes I’ve Made as a Real Estate Investing Newbie

Mistakes and Lessons of a Real Estate Investing Newbie

I’ve learned that real estate rental property can be one of the best methods of passive income.  Instead of putting all your eggs in one basket with the stock market, you can set yourself up with steady rental income that can last a lifetime.  Additionally, you pick up some tax benefits and might even get some appreciation off the properties as some icing on the cake. Because of that, I’m starting to chase this a little more.  However, I’ve also made some mistakes as a newer investor.  The good news is that if you’re a newbie as well, maybe my mistakes and lessons I’ve gone through can be an opportunity for you to learn from them as well to avoid these same blunders. No investor

Why I Dumped TurboTax for an Accountant

Time to Say Goodbye to TurboTax!!

I started using TurboTax in the year 2000 and I’ve used it every year since then.  Going to a tax preparer didn’t make sense – it was expensive and TurboTax made it easy enough to do my tax returns myself.  All the TurboTax alternatives (H&R Block, TaxAct, TaxCut, etc.) are all similar in that can guide you through doing your taxes to make life smoother when doing your returns. Sure, sometimes I would stare at the screen for hours and try to figure out what the %^& they were asking me.  And sometimes it seemed easy enough that I would go through everything and submit my return pretty quickly because I was excited about my big juicy refund… only to receive a 1099-MISC about a day