I have an ideal self, and a present self.
My ideal self exercises daily. She hikes or climbs at least twice a week. She eats plenty of vegetables.
She explores ideas that fascinate her. She reads one to two books a week, making copious notes and annotations throughout. Brilliant blog posts emerge as the natural, organic outcome of this practice.
My ideal self is a prolific writer. She’s developed such strong habits that her articles write themselves. Her fingertips move across the keyboard in a state of flow.
She doesn’t get stressed out about the fact that she’s not publishing articles (or finishing course modules) as quickly as she’d like. She’s patient with herself.
She has no attachment to outcome.
My ideal self doesn’t entangle herself in tiny details and over-optimizations. She’s excellent at filtering out the noise and focusing on what really matters. She’s efficient, not because of productivity hacks but because of her relaxed, playful relationship with her work.
My ideal self is silly and funny and authentic with everyone she meets. She embodies grace, ease and humor.
My ideal self takes a “yes, and” approach to life.
And she doesn’t take life too seriously.
I’d like to meet her one day.
She sounds awesome.
Then there’s my present self.
She’s an effing trainwreck.
Her workouts are sporadic and half-a**ed. She gets outdoors maybe-every-now-and-again. She’s self-critical to a crippling degree. She fears failure. She gets mired in the small stuff. She spends more time getting distracted and futzing around than she spends reading and journaling. She’s frustrated at herself for not living up to her own expectations.
But she’s inching closer to becoming her ideal self everyday.
I also have a future self.
I don’t know much about her. I don’t know where she lives, what she eats, what music she listens to. Is she still a writer? Is she still a podcaster? Does she live on Mars? Does Twitter still exist?
I know nothing about her, other than her date-of-birth and Social Security number. She is, after all, my future self.
And — here’s the kicker — although I don’t know her, I take incredible care of her.
I invest so that she can financially relax.
I exercise (sometimes) so that she’ll be healthy.
I wear sunblock for her. I stay hydrated for her. I even wear earplugs at concerts and festivals — (and yes, also when I’m using my ridiculously loud blender) — just for her.
She’s a stranger. I’ll never meet her. But I’m always thinking about her.
My present self may be a trainwreck, but I’m happy knowing that my future self will be juuussttt fine.
Okay. Enough with this.
You know sh*t gets real when I start talking about myself in the third-person.
I can only handle the heavy stuff for so long. Let’s lighten the mood with this image of a cartoonishly large giraffe:
Ahhh, much better.
I’ve been quiet around here lately. And I’d like to explain why.
If you’ve been reading Afford Anything for at least a year, you’ve probably noticed that my “monthly” real estate income reports started trickling out every-two-months. And then every-three-months. And then every-who-knows-when?
And I feel guilty about this — so, so friggin’ guilty — because I promised you I’d publish these reports every month, and I’m letting you down.
And I hate letting you down.
But I don’t want to publish these reports in a vacuum — “Here are the numbers! Wham! Bam! Goodbye!” — like some cheap hooker just trying to finish the job. I want these reports to have context and meaning. I want you to learn, not just gossip about numbers.
This means I’ve committed to an ‘editorial calendar’ of producing at least one real-estate-related article per month. And I just don’t have the enthusiasm to write deeply and passionately about real estate every month, while also building a real estate course, answering questions about real estate on the podcast, etc.
You see —
Here’s the thing about writers: we write what’s on our minds.
Last year I wrote several articles about productivity and focus, because I needed it the most. I felt overwhelmed by the magnitude of creating this online course, and I needed to learn about focus so that I could become more focused.
These days I think about personal development often — and here I am, writing about the gap between my ideal self vs. my present self. I write about what I’m thinking about.
And here’s the thing: I don’t think about real estate. Like, ever.
I’m not passionate about real estate. I’m passionate about being sustainably unemployed — also known as financial independence. Real estate investing is a means to an end; it’s a delivery vehicle for the passive income that allows me to spend my days doing whatever I want.
So I’m struggling to write about it. But I enjoy talking about it.
So TL;DR — I’ve decided to start talking out the monthly income reports. And in Classic Ridiculous Paula Style, I’ve created a video that’ll hopefully make you laugh, definitely make a mockery of myself, and possibly teach you something along the way.
Here are my monthly real estate income reports — November 2016 through March 2017 — in goofy movie form. 🙂
Enjoy!
P.S. – Don’t want to watch the video? Grab the transcript by clicking the yellow button below.
Click here to Grab a pdf transcript of the video
P.P.S. – If you enjoyed the video, make sure you subscribe to the YouTube channel!
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Shahnaz
Love reading your posts and I understand your challenge in writing about real estate, especially when you value your freedom and ability to be self sustaining above all.
I feel as though I am in a similar situation where I value my freedom the most, above all things. Pick up and go when I please. But this in itself places me in a state of flux, because my fear of starting my own pursuits is not from fear of failure, but fear of losing my freedom. I don’t want to be a slave to a company or even to my own business! How do find a balance in that? :/
Paula Pant
Ahhh yes, I understand exactly what you mean! A few tips that might help:
#1: Design a business that doesn’t depend on YOU to handle the day-to-day logistics. For example, if you’re a self-employed tennis coach or massage therapist or custom furniture designer, then your business depends on your personal involvement, because you’re getting paid for your expertise.
But if you design a business in which you’re selling a product or service, then your role is to (1) build the business; (2) set up the systems; (3) hire the team, and (4) let your team run the show. After your business is established, you don’t personally need to ship the boxes anymore.
#2: When you’re presented with a new business idea, ask yourself: “Is this scalable?” — which is another way of saying, “Does this depend on exchanging-an-hour-of-time-for-$X”?
If the business is scalable, then your role is to establish the initial momentum and then let your team take the wheel.
If it’s not scalable, you’re more likely to end up stuck.
Hope that helps!
JAW IV
You must of read The 4-Hour Workweek and or the amount of people getting tired of the 9-5 is growing. I’m reading that book for the second and it talks about some of the things you mention. I’m actually trying to set up some auto pilot businesses.
Lance @ My Strategic Dollar
Thanks for these tips. I look forward to looking into them!
Peggy Collins
I really need to ask myself the “is this scalable?” question. Great suggestion! So far all my self-employed pursuits are of an artistic nature (photography/art/jewelry), so it seems difficult to hand over the reins to a team.
Ms. Frugal Asian Finance
I was so excited to see your new blog post! Thanks for sharing!
Divnomics
We are currently making baby steps in the real estate world and have read a lot of articles here.
I like how you came up with the idea of the video, very original!
Lauren
Hi Paula,
Super stoked to wake up this morning to a blog post! While I’m sad to hear that you’re not passionate about real estate, as those are my favorite posts of yours, I can completely understand the reasoning behind the lack of activity on here. Girl has to have a life and your businesses should support that, not the other way around.
Anyways, I’m beginning on my own little real estate adventure, investing in buy and holds to create streams of passive income. Reading your blog has encouraged me to start my own. More so to document the journey and share our ups and downs with others.
Thanks Paula!
Paula Pant
Thanks Lauren!
I’ll start creating more YouTube videos about real estate, and I’ll continue chatting about real estate on the podcast. There will be plenty of real estate material coming from me. 🙂 🙂
I’m eager to write about other stuff … but who knows? Maybe that’ll change. At the moment, though, I’ve found that the best way to punch through my writer’s block is to write-about-what-I’m-thinking-about … and just follow that where ever it may lead! 🙂
Lauren
Yay more real estate material! Either way, whatever you’ll be writing about, I’ll be reading it!
Andrew@LivingRichCheaply
Oh you are definitely not a trainwreck…you could never have accomplished all that you have if you were! When faced with choices, I sometimes think…what would Paula do in this situation =)
Now that you’ve moved away from Atlanta, do you still do AirBnb or was that just an experiment. I own one out-of-state rental property (because I live in NYC and it’s way too expensive here). I’m trying to add to that portfolio but started to get interested in buying a property for the purpose of renting it out short-term. It does seem like much more work and riskier especially when you are out-of-state, but greater potential for higher returns. I did hear about a startup called Rented.com that claims to bid out the property to property managers who will pay a guaranteed amount. Anyway, just curious what you thought about short-term rentals for an out-of-state investor.
Paula Pant
Thank you Andrew!
As an out-of-state investor, I’ve put my properties back on long-term leases. This is the most passive approach that I’ve found.
The best summary is this: Airbnb is the hospitality industry; rental properties are the real estate industry. Airbnb is an active service; rental properties are a passive commodity.
Or to phrase it another way: most of the work happens during transitions (from one guest/renter to the next). To minimize work, minimize transitions.
I’m not sure if I’m explaining that well … Does that make sense?
Andrew
Yes, absolutely. I was just curious to see if long distance short-term rentals could work with a good property manager. It definitely wouldn’t be as passive but if you have a good manager…could it be somewhat passive? The returns on short-term rentals are higher…but it probably is something that I might just avoid since I’m still somewhat inexperienced. Do you think you might try AirBnb in Las Vegas or do most visitors like to be right by the action where the casinos are?
Brian T
I have long term rentals in SJ CA and in Hawaii (Big Island). I have one short term rental in Hawaii also. It is not as profitable in the long run because of the high expenses in turn-over and up-keep. Whether it’s rented or not I’m paying for utilities ( Gas & electric), water, wifi & cable. Also, house keepers and a property manager. The occupancy rate is about 40%. In Hawaii the state law is you need a Hawaiian resident to manage vacation rentals. The going rate for propery managers is 35% of revenue!
The only benefit is I get to stay there when ever I want 😉 If it wasn’t for the fact it’s my vactional home I would not do short-term rentals.
Michael
I think these should be two seperate posts, the first half was very strong and should stand on its on.
Paula Pant
Thanks! I thought about that for a long time (whether to break this into two posts, or leave it as one).
I’ve been feeling guilty about how much time has passed since I published my last real estate income report; I didn’t want to publish a post that wasn’t an income report.
But at the same time, I know that only a fraction of the readers of this blog are intereted in the income report, and I didn’t want my first post (after a long absense) to appeal only to a segment of this blog’s readers.
So combining the two (#1 — a blog post that’ll appeal to everyone, and #2 — an income report that’s long overdue) seemed like the best way to serve the full audience appetite.
That said, though, I deliberated this inside my head for weeks. It was a tough decision.
I’m glad you like the first part!! 🙂
Brian - Rental Mindset
I agree that it’s never as bad or as good as people claim. This applies to real estate or pretty much anything else in life. Don’t just blindly listen to the pessimist or optimist, evaluate it for yourself!
My site is all about rental property investing, but like you, it’s not this crazy passion of mine. I just think more people should know how to use it to reach financial freedom. Yes it takes effort and you won’t quickly be rich, but it sure beats the other options. With some up-front investment, it can also be pretty passive (like you showed in your video).
Jessica Hinman
Your accomplishments are so inspirational! I’ve recently started following several different FIRE bloggers, and some of their most interesting posts are their personal monthly budgets. I know that you advocate a super simple budget of saving a certain percent and then not tracking what’s left over. Would you ever be willing to put together a personal monthly budget? It would be interesting to learn more about how you live with your passive (and non-passive) income.
Paula Pant
Hi Jessica!
You got it right! I don’t really have a budget … I just decide the amount that I want to save, pull that from the top, and relax about everything else.
(Note: I’m using “save” to refer to anything that improves my net worth — e.g. extra principal on mortgage payments, retirement contributions, literal cash in a savings account, etc.)
I wrote about it here — https://affordanything.com/2013/03/05/anti-budget-or-80-20-budge/
I’m happy with that approach, because my general life philosophy is:
#1: Figure out what you want to do
#2: Find the simplest way to do it
In other words, I avoid any excess complications. It’s that whole “done is better than perfect” thing.
So anyway … that’s why I don’t have a budget. 🙂
Jessica Hinman
Paula,
I totally get that. As a hopeful FIREer who’s investing in buy and holds, I’m always just curious about how much people who have FIREed are spending each month. My husband thinks $50k in passive income from our rentals would be too restrictive, but some of the FIRE blogs I’m reading have people living quite happily on $40k or less each year! Would you say the passive income from your properties totally pays for your expenses, or do you need the money from your blog or other active earnings to live off of? Do you have a ballpark dollar figure per month or year for your lifestyle?
Kelly Davis
You should do a post on your insurance you have for the rentals. More specifically, is it just an umbrella plan and where through? We only have 2 rentals and we are paying much more in insurance than you seem to be so I’d be curious to figure out if I can change our costs.
Candace
Paula you are such an inspiration.! Thank you for sharing
JJ Hahn
Paula, to be honest, I don’t give a kick if your posts are about real estate. I check out your website/blog regularly to see what you have posted period. I don’t care if its your personal income numbers or a different topic, I just like to read your perspective. This thing you have built is about you….. not real estate. You are magnetic. The post about your real self and future self makes total sense and isn’t about real estate. The gold is in you. Not the subject matter. You rock. Email me Paula-
(-from a fellow business chick with double digit tenants)
Paula Pant
Whoa, thank you JJ! That means a lot! I don’t know what else to say (this is the part where I’d normally just start talking in emoji’s, for lack of adequate words) …. really, heartfelt, thank you. 🙂
Sarah
Exactly how I feel! Paula you are a great inspiration. I’ve been following your blog for over a year now and you have been very helpful as we bought our first rental property in March and listed it on Airbnb at the beginning of July. I find your posts helpful on whatever topic you choose and I hope that you get some benefits out of writing them too. Thank-you.
snowcanyon
Thanks for the update!
Question- obviously the net for November to March was less than $2000. Presumably you have savings from earlier positive cash flow months to pay for repairs etc, but do you net enough to support yourself financially solely from the income properties, even with a slew of bad months?
Thanks again, very inspirational.
Jessica Hinman
I was wondering the same thing!
snowcanyon
I ran the numbers from January 2016-December 2016. I picked those dates because a full calendar year allows for tax and escrow payments and seasonal variability, such as high water bills in summer, late payments around the holidays, and vacancies Adding up the net profits from 1/16-12/16, I came up with -965.16 total net profit for the entire calendar year. Obviously this is only a one year snapshot, and I’m sure Paula had enough banked to pay for the negative cash flow and also fund her living expenses for that year.
Paula is smart, savvy, hard-working, and generally fantastic, and she adheres religiously to the 1% rule, but I could never handle 12 months of negative cash flow, so rental properties are not for me.
Feel free to recheck my math! Interested to see what others think, and what the total take has been since the beginning of the rental empire.
Laura
Me too! Thinking I should check out the prior posts to see what the annualized income was. I know she keeps track of her capital expenses vs when they will be required again, so a down year could theoretically be ‘planned’ for. But yeah, bit shocking to the casual reader….
snowcanyon
I know! I am interested in pursuing real estate as a means to FI, but my one rental, even though it always cash flows and rents like crazy (last time there was nearly a fight!), is just not giving me enough of a return to make it worth keeping.
I’d love to hear more from Paula, who has been so successful, on what her annual cash flow/ROI/cap rate actually is to help me plan for the future.
Hopefully she can elucidate more fully! If anyone runs all the numbers from prior posts let me know!
LadyFIRE
It is such a relief when ultra successful got-their-shit-together people admit they aren’t as amazing as their online presence makes them seem 😀 As an investor who also finds property nothing more than a means to an end, it’s great to hear that you can be dispassionate about it and successful. Especially since my coach is disturbingly into property, she LOVES this stuff to a weird level.
Larry
Congrats on taking care of your hearing. I am an old fart that didn’t (60s and 70s sex, drugs and ROCK AND ROLL) and believe me, a hearing deficit, even with hearing aids can be life altering.
Maven
Love the self-talk at the start, Paula! That caught me off-guard as something I don’t usually read from you. I’m actually going through the same thoughts recently and it was funny to see someone at it too. 🙂
Will go ahead and check out your vlog. 😀 I’m sure it’ll be great as I am also a fan of your podcast!
Ms. Montana
I committed to writing 1 real estate post a month too, and it’s SO hard. I get asked about it a lot, and I know people have questions. But it’s almost boring to me because it seems so straight forward. Like writing instructions on how to clean my house. But I know it’s useful, so I try. Partly because I think most books on the topic stink. So simple, easy to understand, no spin advice is rare. Videos are a great solution!
Sarah Li Cain
omg I want to start making my videos like this instead of my usual let’s answer random reader questions. Who knew real estate can be so entertaining?
Ashley
Paula,
I’ve been missing the blog posts. So I was thrilled to see a new post!
I would love to see the blog feature articles on self-improvement and productivity, etc. I find these topics way more inspiring than the operational details of your real estate business, even though I am furiously saving for my first rental property.
I also enjoy the podcast, but prefer reading blog articles. My favorite episodes are deep thinking with Cal Newport and habit formation with Gretchen Rubin (I’ve listened to both a few times).
Keep up the good work!
Ellenor Davis
I am so happy reading your new post. You have good income, I am a blogger also and I hope I will reach your income some day. By the way great video 🙂
Karol
Hi Paula,
Do you have ETA for your real estate course?
Julie
I just want to say you look absolutely fabulous! All your hard work has paid off!
Roxi
I’m comforted to know I’m not the only one who talks about her future self. Sometimes “present me” will stumble across something “past me” did for “future me” and I actually thank her out loud. It’s great motivation for me to not procrastinate or half-ass anything.
Richard Hodsdon
Paula, Nice job with the post on your ideal self and present self: that is a great way to connect with your audience (in this case, me). I’m sure most self-aware people have dealt with such feelings, and it’s always good to know that we’re not the only ones who don’t always live up to their idealized version of themselves. Your video was a bonus – an enjoyable way to present a bunch of useful but (yawn) straightforwardly dry and to-the-point financial info.
I just started reading your posts so perhaps you’ve already discussed how you view potential for capital appreciation when determining whether a property is a worthwhile investment. This is pertinent in my case for two reasons: we’re in a rising market and who knows how long that will go on, and secondly, what advice do you have for those of us for whom ‘buy and hold’ has a shorter half-life than for a millennial.
My region has seen exceptional growth in home valuations, driven by a huge influx of tech workers, which is distorting the usual price/rent calculations: three years ago the average SFH in Seattle sold for $500k – this month the avg SFH crossed the $720k mark.
Condos are much less expensive but the build out has been of historic proportions, so condo & apt rents are plateaued, new rents faster and higher than old, and renters can be picky-choosey. Many double income folks who can afford the rent on a nicer home would qualify for a mortgage – I’ve had several tenants rush out to buy before they were locked out of their price range. Single family homes are more desirable as rental properties because of their scarcity, and were a reasonable value 4-5 years ago, but now unless you buy with cash (mostly) it would be hard to cover cost of ownership with a market rent.
Have you come to a point where market valuations have peaked and it’s time to either divest from your rental properties or do a 1031 exchange for another property? Although I am new to RE investing, I am part of the early baby boom and so need to think in short-to-mid term and have exit strategies for estate purposes.
Thanks.
Britt
While I enjoy all of your work, this one is a keeper that I’m saving in my e-mail so I can go back to. It is always great to hear that those you follow are normal people feeling the same normal emotions. You continue to be amazing and inspiring. So what if you don’t get them out all the time, that is okay. Keep it up!
tom
Hi Paula, I enjoyed seeing your video and it seems like we have a similar strategy. There are a few questions I hope you can respond to as they have been on my mind for a while now. Ok here goes: so I have three rental properties two being duplexes and one a single family home. I am in year three of real estate. I have been strategizing to get them paid off asap however my accountant mentioned that approximately 25% of my profits will go to uncle sam. I fnd this disturbing. So if I bust my butt to get them paid off and am making $800 a month off a unit does that mean its really only $400 in my pocket at the end of the day? What I mean is they say you shoukd subtract $200 from your monthly earnings for vacancy and repairs.but then if you take another 25% for uncle sam come tax time you at left with $400. Is this accurate? If this is the case I need to rethink my decision to invest in real estate and stop trying to grow and pay down the mortgages. Please clarify for me. I really hope you dont give me the safe response and say go ask your accountant. Thanks for your wisdom. Keep up the good work!!
ACP
Hey Paula, I think your present self is pretty damn sexy and smart…and smart is the new sexy anyway…so give your present self a bit of an awesome kick as it’s giving your ideal self a run for it’s money! So the train-wreck is, at most, a mild derailment I’d think 🙂
DNN
I just found you from Smart Blogger. I have to say I’m proud of you after partially reading your blogging business success story. How long did it take for your blog to take off after walking away from your $25k a year office job in Colorado?
tom
I think Paula Pant checked out:(
Denise
I love how your post starts off describing your ideal self. It’s funny how that ideal self is probably similar for most women. I read it and thought yeah..that sounds like my ideal self too! That self that does and it all and is all to everyone that counts on her. But like you said, our real selves fall short…but we recognize that and we course correct and keep striving to get there everyday…I just wish time would slow down…although that is just how we perceive it too. Everything starts in our own minds…
Brian
I love this! Your writing is superb and most of us long time readers are here not because of the plain information you might share with us, but because we get to know you and most importantly we share your values and passions. So when I read you is like someone hijacked my brained and tuned it all wise and funny and gave me some great advice in life in general.
I guess I just want to say thank you.
Gst Certification
Great article! Adding you to my list of subscriptions. I appreciate honest, straight forward dialogue.
Steve from Arkansas
Hey Paula, you left one thing out about the present, real you. I’m a voracious podcast listener subscribed to dozens of them. And without a doubt, you have the most awesome laugh in the business. It’s almost musical! You have a great podcast voice and on air presence as good as anyone I’ve listened to but when you laugh it’s, just the best laugh ever. Definitely the laugh of a good person that loves life and is living it well. I’m an old boomer and kids like you make me feel good about the future, keep up the good work!
Camelia
Hey Paula,
It´s great to have you back in the blog! I learned so much from your video and had a ton of fun also at the same time hahaha. I love your style. Please keep on going that route.
I know that real state income can be like a roller-coaster sometimes, but at the end of the day all comes to how much ROI are you making.
I can get an idea from the numbers you shared but still can´t get the full ROI picture…
1- Could you share with us what´s your last year´s ROI from all your rental properties as a whole?
2- What´s your average ROI since you started with real state?
3- What´s the “industry average” ROI? 8% maybe? Less?
Thanks for the work you put on your blog and wish you the best!
Tasha
Hi Paula. Fellow RE investor here. What bookkeeping sofrware do you use? Thx for sharing your income reports!
Erin Millard
Hi Tasha – Paula uses Less Accounting. She goes into more detail on this page: https://affordanything.com/real-estate-investment-cash-flow-report/
Julie
Hi Paula,
Thank you so much for the explanation. It makes total sense. I also appreciate your dedication to those of us that are wanting to learn from you and are voracious in gobbling up every word you write/utter/emote. Loved the video! Quick question – what is the bookkeeping software you are using to generate your reports?
Erin Millard
Hi Julie, Paula uses Less Accounting. She goes into more detail on this page: https://affordanything.com/real-estate-investment-cash-flow-report/
Julie
Thank you Erin!
I appreciate the info!
Richard
An awesome piece of article. Bookmarking this page to read again. Keep writing this type of articles. It helps me.
Tânia
Hi Paula! Thanks for another inspirational article! I also invest with the goal of achieving financial independence still young and having the time and money to do just what I like.
Durga
Your Caring for your self future shows you how caring you are and how independent you want to make you in the future.
Donna Freedman
I think that Current Paula is pretty awesome.
See you at FinCon17.
wendy
Thanks, that was a good relatable blog post and a fun video!
Looking forward to meeting you in Ecuador.
Cheers
Shine
Very inspiring! I just came across your blog/website. You are very intelligent and seem very knowledgeable. I love real estate and plan on purchasig more properties in the near future. Thank you so much for this.
Phil @ PhilanthroCapitalist
I enjoyed this. It was the first article I’ve ever read from Afford Anything, so I wasn’t exactly expecting so many apologies regarding the lack of real estate income reports.
If it means anything, I forgive you.
The thing about your past, present, and future selves reminds me of Hal Ersner-Hershfield’s “future-self continuity” (the extent to which “current you” identifies with “future you”). It also reminds me of A Christmas Carol, but I have nothing interesting to say about that.
You might want to work on seeing “future you” as less of a stranger, because high future-self continuity encourages decision-making in the present that will benefit you in the future — HOWEVER it looks like you’re doing better than 99% of people. More worrying is probably not what you need.
🙂
Phyllis
I loved the video format Paula – great idea! I found it much more engaging than the typical blog posts you see. The editing was amazingly well done and it definitely made me laugh 🙂
Fatcat
I’d like this a lot better if I could just READ it with no subscription. It’s not really writing if it’s a video, so your current self cheated a little. Still, I’ll take the extra time and watch it because I am interested in how you do this.
Fatcat
Sorry about the whining. I did enjoy the video once I sat down and watched it. Honestly, you don’t have to write huge interesting blog posts and work so hard, we just want to see the numbers. 🙂
Erin Millard
If you (or others) prefer reading, we provided a copy of the transcript (the orange button right underneath the video). I know it’s not the exact same as a blog post, but we did take readers into consideration. =)
JZ
Thank you so much for doing what you do. My wife and I are both a point in our careers where saving money has gotten a lot easier (knock on wood) and have been looking for ways to put it to work. Thought about a few small start-ups, but realized that without something keeping us locked into it, we’d probably bail on it during one of the low points after the ‘honeymoon’ was over. Our thought is that real estate is a little too difficult to bail on during a low-point, and hands off enough in general that the desire to abandon will pass and we’ll stick with it.
I have several friends with rentals, but (as you pointed out) there really isn’t a consistent story to tell and hearing their experiences really has only made me more reluctant to plunge in. I do think I’m starting to understand why their stories vary so much, and you’ve helped with that as well (one of them goes cheap on everything, and he seems to always be in maintenance mode, whereas the other goes with high-end materials and approaches – resulting in less frustration and a more attractive property that rents quicker despite the higher price he charges for rent) You’ve laid out the foundation and general expectations very well. Thank you for what you do… enjoy your nap. 🙂
Mr. Hammocker
Thanks for the honest post. It’s always good to know where we have come from, how we are currently doing, and where we hope to be. Our hero should be us 10 years from now.
John @ The Millennial Plan
Hey Paula – was wondering where your updates had gone to! I regularly reference back to your posts on home renovations and just general real estate advice. Hope you’ll be posting more regularly, but if you guys ever swing through Tokyo on your travels definitely give me a shout!
Donna
I like it when you do a “Pant Rant”
Marshall
Congratulation on working towards your financial independence, I hope to also get there in a few years, mine method is more online investments/stock investments/trading.
Are you finding that with increasing home prices that its hard to find decently real estate that you can make an acceptable return on?
Jack the Investor
Wow, this shows the potential, but it is reallllllyyyy hard to get on the ladder for first time buyers. I am gonna check out the rest of the blog as I’m sure you have addressed some solutions to this all too common problem.
Thanks for this post!
Ashish
Hey Paula, Thanks for sharing updates on managing finance. This gives me lots opportunities to learn from you and the way your advices that comes handy in all your awesome blogs. Really appreciate all you your writings!! Thanks 🙂
Van
Watching this video, I noticed you moved to Las Vegas. Does that infer that you are no longer doing the Airbnb since you have stated that you could not find a reliable house cleaner? Just curious, as we are in the process of putting an apartment in our basement but have not decided if it will be a rental or an Airbnb. Thanks!
Neide
the post is very honest. Thankyou.
It’s always good to know where we have come from, how we are currently doing
Luisa
I loved your post! Thank you.