In evaluating rental properties, it is important to account for unknowns and other operating costs. A lot of new investors optimistically evaluate properties and do not consider all potential costs. Once they realize what it costs to own and maintain the property, they may end up realizing that the numbers don’t work. Two important questions: […]
Magnolia was property No. 5 and it is by far my favorite property. Depending on who you ask, this may or may not be a good investment. We ran into a few hiccups and made some stupid mistakes on this purchase. However, it still checks all the boxes. It fits perfectly within our investment criteria. […]
In my post, “How to Prepare to Buy Your First Rental Investment Property”, I mentioned that FOCUS is key when it comes to investing in real estate. There are so many property options and paths you can choose from. This is the reason why many people, like myself, get stuck in analysis paralysis and delay […]
Buying rental property is my favorite way of building wealth. Stocks are great, but real estate investing adds a little spice to the wealth-building journey. Rental property investing is not as passive as investing in stocks, but if you hire a property manager, you won’t have to deal with broken toilets or angry tenants. Your […]
If you want to get started on your financial freedom journey and retire early, you must read the following books. Rich Dad Poor Dad by Robert Kiyosaki. You may have already read this book, but if you have not, I highly recommend you do. This is my all-time favorite book. I was 20 years old […]
So you are making more money than you spend. You have extra cash available each month, what then? When it comes to extra cash, I know three types of people: A) The ones who can’t have cash and will spend it all. The moment they have extra cash, they go on a shopping spree. B) […]
There is a lot of talk about budgeting, but you do not hear about net worth tracking as much. Budgeting is just one part of the wealth equation. Budgeting tracks your income and expenses which is key. However, tracking your net worth tracks your wealth. It gives you a complete picture of your finances. Are […]
If you have been reading real estate books, you may know what private lenders are. For those of you who do not, private lenders are individuals like you and me that have spare money to invest. They can lend money to you at a higher interest rate for a shorter period so that you can […]
Buying property cash may or may not make sense in certain situations. If you ask Dave Ramsey, the answer is yes, but if you ask me, the answer is… Depends. If you have read any of my real estate investing blog posts, you know I am a big fan of using debt to buy real […]
Do you need one to start investing? No Should you consider opening an LLC or Corporation before you buys? Definitely. Depending on your circumstances, an LLC may be a must-have. I am not a lawyer and I would highly recommend you do your research or talk to a lawyer beforehand. If you ask me “Katherine, […]