You don't hear this often - I want you to be average! That is, I want you to be the average of the people you spend the most time with. Over time, like it or not, you will become the average of the five people you spend the most time with. The question becomes, is …
When analyzing rental real estate returns you should at least consider the tax implications and the cash flow. Over time, I have changed my analysis approach here and there but I do like to keep it pretty simple still. You can get bogged down in the analysis if you get too in-depth on it. The …
Continue reading Rental Real Estate Series: Part 3 – Analyzing Rental Real Estate Returns
When the rental market is great it’s easy to look past what may be your two highest expenses when you own rental real estate. You may not even have these expenses when the market is really good. However, over the long term these will creep up on you and when they hit it can be …
Continue reading Rental Real Estate Series: Part 1 – The Largest Landlord Expenses
By now you have the bulk of your budget figured out, it’s all coming together. However, it likely feels like you don’t really know where money is going and when. That is normal at this point. We are now going to put it all together from a cash flow perspective, which is when we determine …
For budgeting purposes the income side of the equation can actually be quite confusing at times. If you are an employee, does it mean how much you get deposited in your account or is it your gross? If you are commisison income, is it the gross commission income or is it after taxes? If you …
No matter the source, you need to have a priority established for all money. Otherwise you’ll probably squander it. It’s human nature, like buying a TV with your tax refund...it’s found money right! It’s bound to happen that you receive an extra dollar some day. Ideally today! It could be a bonus, inheritance, gift, commission, …
Continue reading How to Budget Series: Part 2 – Priorities for Extra Income
Nearly everyone wants to make more money. Far less people will. Your ability to make more money hinges on your knowledge, skills, and abilities - if you were to intentionally use them at the utmost highest level I believe you can make more money. You may just need to change your approach.
The vast majority of people feel they would be happier if their income was higher. If you are making $50,000 a year then things would be so much easier if you just made $75,000. If you are making $500,000 a year then things would be so much easier if you just made $750,000. There are …
You want income when you aren’t working? Sounds like you need that income to come in passively. Unless you are somehow going to live off the land in the middle of nowhere with no need for supplies, tools, energy, transportation, entertainment, or anything from another person you will most likely need income. Even the …
Making more money isn’t what any of us really want. Remember when $100,000 sounded like a whole lot of money? I do, that’s for sure. If you were handed $100,000 today I think you could spend it pretty easily on just a few things. What if you were given $10,000,000? That would be harder to …
