Ah, property management companies – the answer to anyone wanting to get into real estate without the headaches, right? The thought makes sense. Rental properties are a great way to help diversify your investment portfolio and earn a solid cash flow. The only problem… managing the properties. Now, some folks like the idea of running the operation and handling any repairs themselves. The good news is that they tend to make more money on their properties every month since they’re doing all the work. However, not all of us want to do this. The other side of the coin has the masses that just want the investment for the returns it can provide. These folks want someone else to handle
When I was younger, I used to think that a lot of the business opportunities out there weren’t for me. Maybe they weren’t worth the effort or they would take too much money to start. As I’ve gotten older (and a little smarter), I’ve realized that’s not the case. It’s simply a matter of just opening your eyes and then plucking out those opportunities. A number of years ago, I started playing FreeCell on my phone when I get a few minutes of time here and there. Since most games take me under 5 minutes, it’s a perfect filler for me. I found an awesome solitaire suite years ago and have carried my stats with me from phone to phone.
I’m pretty excited to see that our net worth has grown over $70,000 in just three months since I wrote the post $1 Million Net Worth… Now What?. It’s great to see my money continuing to grow, but there’s still a downside to it. Most of the money is tied up in the stock market right now and it’s a bull market right now. No one has a crystal ball to tell us if this is only the beginning. The gains could just keep rolling in for years to come. It’s also possible, however, that we’re at the top of the market and a recession is just around the corner. I don’t know what’s going to take place in the
Financial regrets, I’ve had a few… As I guy in my early forties, I sometimes take a moment here and there to reflect on how my path in life has gone. I don’t dwell – I just try to look back at my mistakes and learn from them to make for a better future. And maybe the “regrets” part of “financial regrets” is a little excessive. If you’re a regular follower of my blog, you know that we’ve recently surpassed the million-dollar net worth mark. We’re in good financial shape right now and now we’re just continuing down the path we’ve been going to expedite our mission and reach financial independence as soon as possible. However, there are some things that, if done differently, could have put
Let’s be honest, the idea of making money with real estate is intriguing. Even if you haven’t gotten into the real estate game, you likely know or have heard that rental properties can be a great investment. There are some great advantages to owning rental property, but is there really a secret ingredient to making money with real estate rentals? There’s definitely an essential secret sauce, but here’s the deal – it’s not really that much of a secret. In fact, you’ve probably heard it before… You make your money when you buy your rental property. And by that I mean, if your end game is to be making money with real estate rentals, your calculations need to be correct out of the chute or you’re probably
So, you’re going down the right path on the road to financial freedom slowly but surely, but you want to make sure that you’re protecting your assets in the meantime? Well, hopefully, this post will help you with some ideas! I’ve noticed that as I’ve started to build up my assets, my needs have started to morph as well. I now have rental properties, multiple LLCs, and growing and expanding savings, investment, and retirement accounts. And, as the accounts continue to grow, a lot of the money is starting to work more for me instead of the other way around. But, I now have a lot more to lose than when I first started down this journey. Making sure that I don’t