I recently used a wholesaler to put a contract on an investment property. I also recently failed to put a contract on a different property using a wholesaler as well. So it hasn’t been all smooth sailing!
As part of sharing my experiences in purchasing this new investment property I wanted to discuss the use of wholesalers and my personal experience with them. I think you will find it interesting.
Continue reading “Buying Another Rental Property: Wholesalers”
What can we learn about our finances from the game of Cricket? Actually, a lot. There are seven factors that influence how successful a Cricket player will be and these same seven factors apply to investing and your finances as well.
Continue reading “Success Factors for Cricket Similar to Investing”
I recently watched a funny reality television show while I was flying on a business trip. The biggest thing that stuck out to me was that in Japan, beer is very popular.
By the way, I am usually not interested in television shows unless they are about blue-collar workers or prison. I don’t know why but those types of reality shows are very interesting to me. Locked up Abroad, Inside the World’s Toughest Prisons, World’s Most Dangerous Prison, Alaska Fish Wars, Alaska State Troopers, Most Dangerous Catch, Ax Men, Swamp People, Mountain Men, and Ice Road Truckers are the types of shows that sucker me in. I really don’t get it. I’m a CPA who likes running and sports. So why am I obsessed with these reality shows?
But the one I watched recently while flying was called “Better Late than Never.” and it was pretty interesting. Another reality show for me to watch…
Which brings me to another strange obsession: the Japanese obsession with beer!
Continue reading “Why is Beer So Popular in Japan?”
I have been working towards buying another investment property for some time now. I want to buy one by 2017 and I think I’m about to succeed in the month of October (or maybe November). I’ve written about the two houses that I didn’t get when I was using a real estate agent. I also wrote about my adventure on memorial day where I spent a lot of time researching a house offered by a wholesaler. But I think this one is going to work out!
One of the things I have been learning at work lately is how beneficial it is to plan ahead and to have a backup plan if the situation changes on you suddenly. So I’m writing out some of the steps I’m taking to plan for adding another investment property to my portfolio. Maybe some of my readers can offer improvements on these as well! I’m always open to suggestions.
So here are some of my thoughts. Continue reading “Preparing for Another Rental”
I was reading an interesting post about having a financial epiphany and realized there were some very interesting comments from some heavy hitters in the personal finance blogging community and some who have newer blogs. Financial Samurai, Mr. Tako, Financially Alert, and others were talking about various inflection points in their financial independence journey. All of these bloggers are financially independent and have written extensively about their personal journey and their philosophy of investing and creating passive income (among other things). As I’ve mentioned before, getting to read about how other people progress to their net worth goal can be very exciting and instructive. It’s like having multiple successful mentors who will share with you the lessons they’ve learned in becoming financially free.
Continue reading “What is the Best Financial Decision You Have Made?”
It is very rare to feel like you are really making as much money as you deserve. That is just human nature. But there is something much worse than having a vague feeling that you may not be making as much as you should.
And that is knowing with absolute certainty that you make 20% less than others in your position. Ouch!
Earlier in my career I worked at a company that wasn’t very disciplined or logical in their salary structure. They had various people in special rotational programs, lured people from other companies by offering higher than market rates, and had no structured approach to salary increases for strong performers. It was very much a fend for yourself system which rewarded those who made the most noise or were willing to job-hop.
I didn’t realize this until after three years with the company and by that time I was way behind the curve!
Continue reading “5 Ways to Negotiate a Higher Salary”
Recently I wrote a post discussing why I thought it makes much more sense to continue working at one’s career while also being a successful investor. Why would you set a goal to only save one million?
I found a comment by one of my readers to be very interesting. His only comment was the title of this post: “Who wants to work for 45 years and then have $10M?”
That got me thinking – does anyone really want to save $10M, or are most people really trying to earn enough to retire?
Continue reading “Who Wants to Work for 45 Years and Then Have $10 Million?”
Being a patient investor is very difficult. There always seems to be someone who pops into our life that was able to seemingly quickly and easily obtain some financial goal.
As an aside, I usually find that these seeming successes are really just a poor decision to make a large debt-financed purchase.
But when these things happen while you are slogging along dilligently investing week in and week out it can be a bit demotivating. It is tempting to think, “what is all of this careful and disciplined investing really getting me after all?” These kinds of thoughts weigh heavily on us when we see others who have a seemingly carefree attitude towards their finances and purchasing decisions.
Keep Your Eyes on Your Goals
The best thing to do in times when you are not feeling motivated is to review your goals. It is important to test your goals and your plan against your personal values and lifestyle.
Continue reading “Motivation to Stay Disciplined”
I have heard a lot of excuses for not investing in the stock market. I probably never heard more of them than during the years from 2000 to 2012. “My 401(k) balance keeps getting lower!” and “I don’t even want to see my account statement.” were all I heard when it came to stocks. I had a close friend sit me down and ask me what he should do – he was sincerely concerned about his investments and was considering selling all stocks.
But investing patiently for the long-term in stocks is still a wise move even in difficult markets like the early 2000’s.
Sure, this was a dismal time for the market with ups and downs that went roughly nowhere. Many people were investing with the hopes of getting 8-12% return on their money. Instead, they got almost nothing.
What is an investor to do in times like these?
One answer: Dollar Cost Averaging.
If you haven’t heard of this strategy keep reading. If you are familiar with this strategy, I still think you will find this example and analysis interesting. I have been practicing this strategy for years but was still surprised by how powerful it is!
Continue reading “How to Earn 4.7% Investing In Stocks When the Market Returns 0%”