Want to reach financial independence through real estate? Here’s a conservative approach you can take to own cash flow positive rentals.
This article is Part 3 of The Airbnb Series. Before you read this, check out Part 1 and Part 2, and when you’re done, visit Part 4. Well, it’s happened. Eight crazy months, 42 guests, one police incident, and $19,000 in gross income. I’ve packaged the adventures, ideas and full disclosure of the numbers into…
Despite the fact that I have the best roommates in the world, I’ll occasionally remark, “I’m tired of having roommates.” And Will replies: “Are you $1,700 per month tired of it?” I don’t need to respond. The answer is obvious. The minor inconveniences — sharing a refrigerator, waiting to use the washing machine — pale…
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.