Want to reach financial independence through real estate? Here’s a conservative approach you can take to own cash flow positive rentals.
Myth: If you’re supporting 5 people on 1 income (and it’s not a high income), you’re screwed. You’ll never become a business owner or an investor. You’ll be lucky just to pay the bills. Fact: Ladies and gentlemen, meet success story: Rental Randy. In my last blog post, I re-emphasized that the best way for…
Moderation is not my strong suit. I don’t just eat one chocolate-chip cookie — I either eat zero, or I eat the whole batch. I don’t just travel for a weekend — I either stay at home, or I hit the road for weeks/months/years. And apparently, I can’t just buy one or two houses. Afford…
This article is Part 1 of The Airbnb Series. When you’re done, check out Part 2, Part 3, and Part 4. “I wonder if …” The greatest adventures of my life usually begin with that phrase. When I say “greatest,” I don’t necessarily mean “best.” Sometimes I mean “weirdest-smelling” or “insanely-profitable” or “almost-gave-me-malaria.” “I wonder…
One Afford Anything reader asks: In my area, I can buy a quality house/duplex for $45,000 – $100,000. My partner and I want to get a house with great rentability. We’ll live in it for 4 years while I finish graduate school, at which point we’ll move. We hope to keep the place – as…
Note from Paula: Today I’m featuring a guest post from my friend Brandon Turner, who is officially The Tallest Guy I’ve Ever Met. I suggested that he write a post about “How I Got So Friggin’ Tall.” He countered by offering the juicy details on how he created $4,600 per month ($55,200 each year)…
Guess what? We did it again. We bought House #4, which represents our 6th rental unit in total! “Whoa, Paula, this is getting ridiculous.” Yeah, I know. Let’s meet the new rental, shall we? NOTE: This article was last updated in 2015 (and all numbers reflect that year). The Rental House First, the stats: It’s…
An Afford Anything reader recently emailed me about this dilemma: He’s upside-down on his home. He owes more than the house is worth. But he wants to take advantage of today’s low housing prices, which will let him move his daughter into the best school district in town. He can put 10 percent down on…
Renting out a vacation home is one step away from running a hotel.
Want answers to some real estate questions? Here’s the latest edition of Readers Ask. One reader asks: I have a long list of repairs and upgrades which my house needs, and I would like to find an impartial source for ballpark price estimates. What do you recommend? Those estimates will vary, depending on what part…
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.