It’s that time again, time for another Net Worth index update. This should get more and more interesting as time goes on and there is more data to chart. Over the coming months I am sure a story will develop. Because I am a proponent of extreme investing, I believe that these updates will be very interesting at some point. That is just a function of the leverage that I’m using. Hopefully, the leverage will work for me in a positive way and not a negative one!
This month there is a lot going on even though the index value is fairly stable.
Continue reading “October Net Worth Index Update”
While researching a potential rental property purchase, I stumbled across an interesting filing with the land records. Basically a homeowner deeded the house to his children upon his death.
I hadn’t come across it before and I was intrigued. It made me wonder about the best way to transfer wealth to my kids or their kids (when they have some).
Here are some thoughts on distributing wealth to family.
Continue reading “Distributing Wealth Wisely”
I am still young and can take big risks when investing. Or at least I like to think so. But hey, I’m also still of the opinion that I haven’t hit middle age.
The point is that from an investing standpoint, most people who are younger than forty should be focusing their portfolio on growth and that means taking measured risks.
Risk is something that I have always loved. I’ve always been interested in snowboarding, skateboarding, biking, and all types of extreme sports.
I like taking big risks and have done so in the past
Continue reading “Extreme Investing”
I wanted to share how I created this blog and how anyone can create their own blog. I have been interested in blogging for years and this is the fourth one I have started. It is so easy and fun to start a blog that everyone should consider doing it.
The first blog I made was a satirical website having to do with global climate change at www.gwarm.blogspot.com. I no longer have the sign-in information so it is frozen in time. It gets a lot of comments from bots which is actually pretty funny.
The next blog was a chronicle of my journey to get ready for a triathlon. Continue reading “Start Your Own Blog”
One of the coolest things I’ve read recently came from a blog that I had never visited before. It was an article discussing large gains in Net Worth. This has been something I’ve been thinking about lately since creating my Net Worth goal.
Basically the main point is that there is a significant amount of wealth to be made through “doing deals.” The typical path to wealth is to be frugal and save over the long-term. This can work, but the post advocates looking outside that typical path to take appropriate risk by doing deals that will more rapidly increase your Net Worth. Although I do advocate growing wealth slowly over time, I have also see the significant impact that doing wise deals can have on one’s Net Worth.
Continue reading “Path to Millions: All About Deals?”
I am not even going to try to convince you to buy a used car in this post. This post assumes you know it is wise to that and want to know the secret to buying used cars. If you are struggling with understanding why you should buy a used car, then you need to question if you are really making good choices with your money. If you live in an apartment but bought a brand new car for more than $30,000 then you should stop reading: this blog is not for you.
Actually – you are the person this blog will really help! Most finance bloggers and personal finance junkies like me don’t even need this post. But they will still find it interesting. What I am about to reveal is the biggest secret to buying used cars.
Continue reading “The Secret to Buying Used Cars Everyone needs to Know”
This month I’m trying to buy another rental property. I’ve been thinking through how to do this with 100% financing but I haven’t made the effort to look for private funding yet.
Private funding is when you get a loan from someone you know rather than getting a loan from a bank. The good thing about it is that you don’t have to deal with a bank and the stringent lending standards most banks follow. This lets you and the person lending you the money work out the details of the loan and the interest rate.
Private funding is great for the lender as that person is able to get a high interest rate on the money they lend. For instance, lending to a real estate investor at 8% interest is much better than having that money in a checking, savings, or certificate of deposit account.
But since I haven’t done the work to build up a list of people willing to invest with me, I am working on trying another method.
Continue reading “100% Financing”
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”
As I have written before, I have a rental property about an hour from my house. It isn’t the best investment but since I used to live there with my wife, I decided not to sell it and let a tenant pay off the mortgage.
I use a property manager for this rental, partly because of the distance to my house, and partly because I don’t enjoy working on houses. You really should read my story about the 10 reasons you should use a property manager! It’s pretty funny and hopefully it will keep you from trying to manage a property from a long distance.
When I first got a property manager they were able to find a tenant within one month. Finding a tenant that fast was really a good result considering we had previously had months of vacancies. But this past month our tenant left so we were left with another vacancy!
Continue reading “New Tenant!”
I was recently talking to my older brother about investing in our 401(k) and was hoping to encourage him to invest more in it. I am a finance blogger and employed in the field of finance so I figured I could offer some thoughts from the things I’d been writing about recently and convince him to increase his savings.
I didn’t realize that he would actually be the one encouraging me!
Continue reading “401(k) Discussion”