Want to know more about world travel and tenants?
Welcome to the latest installment of Readers Ask.
Today I want to share two questions that AA readers posed last week.
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Author: Paula Pant
Home Renovating: The “During” Stage
Four months ago I declared that we’re renovating a 3-bed, 2-bath rental unit. You can see the “before” photos here.
For the past 120+ days, contractors have torn out load-bearing walls, reinforced the foundation, fought water damage, ripped out floors, torn away drywall and filled several 30-yard dumpsters to the brim.
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Know Your Buyers: My $2,700 Mistake
One of my rentals is back on the market. Last time, it took me three months to find a tenant. That’s because I made a crucial error which cost me $2,700 in lost revenue.
You see, if I needed to rent a home, I’d check Craigslist. It’s the only place I’d […]
To Do More … Do Less
Welcome to the New Year. It’s been quiet around Afford Anything through the holiday season, but don’t worry: I’ve got big plans for this site in 2013.
Which leads me to a topic I’ve been wanting to chat about for awhile: there are more worthy goals and worthwhile pursuits than we […]
Readers Ask: What If I Can’t Hit One Percent?
Many of my readers are rental property investors (or aspiring investors). But not all of them live in “cheap locations.”
Several readers have asked what how to invest if they live in a place where houses don’t meet the One Percent Rule.
Let’s answer this question by featuring Brian and Kristin, a couple in Arlington, […]
Why I Buy a Daily Latte
Yes, it’s true. “Don’t buy lattes” may be a personal finance cliché, but I literally buy a Starbucks coffee every day. I pay $1.78 for a tall (which is Starbucksian for “small,”) plus 54 cents for a refill. Daily damage: $2.32.
That’s $71.92 per month, if I go daily (which I […]
How I Collect $3,000 Per Year in Passive Income from One Rental Property — with No Money Down
My former partner and I bought our third rental property in May.
We paid $0 down. We collect $15,000 per year in revenue. After expenses, including the financing, we pocket $3,000 per year in passive income from this rental property.
Not bad, eh?
NOTE: This article was last updated in July 2016 (and all numbers […]
It’s Not “Luck.” It’s Lifestyle Design.
A few years ago I went camping in southeastern Utah with a group of friends.
“I love this place,” I said, gazing at the towering sandstone canyons. Then, ever so casually, I commented, “Hmm. Maybe I’ll come live here for a summer. Just two or three months. Could be fun.”
One […]
Why Being Yourself Is a Disruptive Act
We ought to spend time and money in a way that’s aligned with our values. In reality, our spending habits are often tied to other people’s expectations of us.
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Humans are social creatures. The people in our lives influence us, both consciously and in subtle ways we never realize. We […]
I’m Trying Something Insane: My $30,000 Experiment
You know that expression: “Whatever your renovation budget … double it?”
That happened a few months ago. I predicted that renovating one of my rental units would cost about $5,500 and would raise the rent by an extra $150 per month. I was waaayy off base.
In reality, the remodel cost $17,021 […]
