Forget fancy-pants calculus. The most important math is the stuff you learned in fourth grade. How do you know if an income property (rental property) is a good investment? In this article, I’m going to share three formulas I use when I’m analyzing rental properties.
When we first purchased a house, we thought the only expense would be the mortgage. Haha! Little did we realize that the mortgage is only the beginning. Homeowners pay for an absurd amount of operations, maintenance and repairs: Trash service. Water and sewer bills. Gutter cleaning. Termite treatment. Pest control. Power-washing. Replacing the siding, windows,…
The Law of Attraction says that if you think about something, you’ll attract it into your life. According to this theory, if you think about riches, you’ll attract riches. If you think about happiness, you’ll attract happiness. If you think about friendship, you’ll attract friendship. Of course, the Law of Attraction doesn’t explain everything. Sometimes,…
This was originally published in 2012 as a series of separate blog posts. For the sake of simplification, we have consolidated these blog posts onto this one page that you’re reading. Unless otherwise noted, the information has not been updated, so all numbers and information reflect 2012. I’m changing careers. Well, sort of. About two…
I spent the weekend slaying the distractions in my life. I flung the junk out of my file cabinet. I brainstormed goals for the New Year, ranked them, and eliminated most. Most of us are pulled in too many directions: too many goals to chase, skills to learn, career avenues to attempt. There are too…
I’m making a massive change in my search for my next rental house. I’ve spent the past year searching for another rental house within walking distance of Atlanta’s most vibrant city park. It’s one of the most desirable neighborhoods in Atlanta, especially among young professionals who want to live in walking distance to martini bars…
Today’s letter comes from a 25-year-old reader named Chris, who asks: “Invest for retirement or pay down debt? This may be more of a personal choice than anything, but I have been subscribed to the ‘pay down your debt before you invest’ camp for about a year now. I should have my debt paid off by…
When I started freelancing, I thought I’d reached the pinnacle of worker freedom. Every morning I pour a cup of coffee, pull on a warm fuzzy pair of slippers, and plod into my home office. I watch commuters battle the busy streets while I wear pajamas at my desk. I thought this was the goal. But it’s only…
“Hey Dad, you can change your own oil and save $20 bucks!” “Honey, that’s not worth my time.” My Dad and I had this conversation in high school, and at the time, I had no idea what he meant. How could saving money be a waste of time? Now I get it. Traditional finance advice…
I recently received a question from a reader named Briana, who asks: “Paula your story is definitely inspiring. I’m having a bit of trouble though. Since being laid off in January, I’ve been pursuing a “career” as a freelance writer, and while things are steadily looking up, the fact of the matter is I’m still…