While I am still in the process of writing my book, let me share some concepts from one of the chapters about 3 ways to make $96,000 a year of tax advantaged “passive” income (which would be the equivalent of making $192,000 at a W-2 job and giving 50% away to state, local and federal…
There is a lot to consider when determining whether you should rent out your primary residence. I have been getting this question more frequently of late, so let’s look at some things I discuss with my clients. First on the list is to determine the market rental rate for your property. Use Realtor.com, Zillow, contact…
What is the rat race, the matrix, the trap, the deception? Simply exchanging 5 for 2 for life. Work for 5 days to get 2 days if you’re lucky. We are trained from school age to exchange 5 days for 2 days. T.G.I.F. But, how does this happen? Most people are enticed into school debt…
In short, “No.” Similar to driving, you have to steer, accelerate, brake when necessary and so on, but do you really need to lay the asphalt or paint the lane markers? Both are involved and interacting with the road, but from very different roles. Ultimately you have to decide how much work you are going…
Let’s discuss an interest rate of 3.4% and an inflation rate of 6.8% (according to BLS.gov/cpi for December of 2021) and look at the outcome. Inflation eats away at the future purchasing power of a dollar. In other words, it buys less because it has been devalued. The same $1M today, will not buy $1M…
Cash-on-cash (CoC) is a way to measure the cash flow percentage derived from an investment that you made. Generally, cash flow investors will look at cash on cash returns, as a starting point when considering an investment or comparing multiple investments. Cap rates, IRR and ROI do not always rule the day, they are just…
These are in no particular order. Whether you are just getting started as a first time home buyer, investor or seasoned in the real estate space, I have found these to be great books to expand my knowledge and understanding of real estate, finance and personal growth. Buy, Rehab, Rent, Refinance, Repeat: The BRRRR Rental…
Simply defined, assets put money into your pocket and liabilities take money out of your pocket. Your primary residence is not an ATM machine, does not put money into your pocket and requires large capital contributions to keep and maintain. It is a roof over your head for you and your loved ones, not a…
Investing in real estate is not a scary as you have been thinking, and with a little bit of understanding and planning it can become a path to wealth. Over 20+ years ago my father-in-law, a real estate broker, gave me the basic vision for investing in real estate (or as I like to call…
Real estate can be a great investment opportunity. Property and real estate tend to build value over time, which produces a return on your initial investment. Another option is renting or leasing a piece of real estate and enjoying the renal income. That said, there are dangers and common mistakes that can easily be made…
