Afford Anything

Tag: real estate

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#379: Invest Anywhere: 4 Benefits and 5 Challenges of Long-Distance Real Estate Investing

Welcome to our First Friday bonus episode.

Once a month, Afford Anything presents a special feature called Invest Anywhere, in which we teach our audience how to invest in real estate from thousands of miles away.

We kickoff today’s episode by discussing current market conditions. Yesterday the Fed raised interest rates by another 50 basis points, which means mortgages are more expensive than they’ve been in years. Additionally, jittery investors worried about an impending recession led the stock market to its worst day of the calendar year so far.

How should we interpret the current market conditions? Is this a good time to buy an investment property? We cover this in the first 20 minutes of today’s episode.

Next, we discuss 5 challenges associated with investing in long-distance real estate investing: (1) fear, (2) accountability, (3) traction, (4) stress, and (5) relationships.

We elaborate on each challenge and offer solutions.

Finally, we discuss 4 benefits to investing out-of-state: (1) competitive ability, (2) diversification, (3) returns, and (4) repeatability. We elaborate on four types of diversification: economic, strategy, business cycle, and asset based.

Enjoy!

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#373: Invest Anywhere: The 5 Ways Real Estate Makes Money

On the First Friday of each month, we air a special bonus episode.

Historically, these episodes have been the same as our normal weekly shows. They alternate between interviews and community Q&A episodes.

But for more than a year, I’ve wanted to create something special, something that makes these monthly bonus episodes stand out […]

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#368: Ask Paula: Talk Crypto To Me

Alex is curious about cryptocurrency. How should she analyze the returns promised by different platforms and where can she go to  learn more about crypto in general?

Grace wants to buy a manufactured home for rental income. Should she calculate her returns differently for a manufactured home?

Thomas and his wife have parallel goals of saving for a down payment and contributing to retirement accounts.  How should they balance both of these goals?

In today’s episode, former financial planner Joe Saul-Sehy and I tackle these tough questions.

Do you have a question on business, money, trade-offs, financial independence strategies, travel, or investing? Leave it here and we’ll answer them in a future episode.

Enjoy!

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#358: Ask Paula: Should I Invest in Index Funds More Actively?

Where is the balance between the risks and potential returns of actively and passively investing in index funds?

Where do you place your savings after you max out your retirement and HSA accounts?

How do you finance building a rental unit when there’s already a home on the lot?

Is it more beneficial to buy back pension time with post tax deductions or a 457b plan? Or should I not buy back pension time at all?

In today’s episode, former financial planner Joe Saul-Sehy and I discuss the purpose and practice of mindful money.

Do you have a question on business, money, trade-offs, financial independence strategies, travel, or investing? Leave it here and we’ll answer them in a future episode.

Enjoy!

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#354: Ask Paula: How Do I Make Sure I Don’t Spend the Money I’ve Invested?

Charlie in Cali has enough money saved to pay cash for a house, but she and her husband decided to finance their home, instead. They’d rather invest the money and arbitrage the spread.

But one problem: how can they keep themselves from touching this investment?

Jay is choosing between Fidelity and M1 Finance and has questions about tax loss harvesting.

Nicole and her siblings will be inheriting some properties that they eventually plan to sell. How should they set up or organize these properties among so many owners? Should one person take the lead? Do they need a shared business account? Also, how should they evaluate a property and make sure they get a good deal when they sell?

Ed owns three homes, two of which he plans to sell in the next few years. He plans to live in them long enough to establish residence and take the capital gains exemption when they sell. Is his plan for handling the taxes solid?

We answer these four questions in today’s episode.

Enjoy!

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Written By Paula Pant

The eerie similarities between owning rental properties and running an online business

In June, I flew to Atlanta and toured a few of my rental units. This was the second visit I’ve made to these properties in four years.

During that visit, I met with my property manager and a few of my tenants, and I had lunch with my contractor. He and I met at a suburban Atlanta strip mall. 

We ordered a basket of spicy chicken wings and fries, then took out a water-logged spiral notebook and planned a $20,000 renovation.

Here’s what the early brainstormed edition of those plans looked like:

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Written By Paula Pant

We Have Exciting Your First Rental Property News!

Heyyy!!

Guess what guess what guess what guess what? (Can you tell I’m excited?)

Ahem. Clears throat, pulls self together.

Enrollment for the Fall 2019 semester of my favorite course in the world, Your First Rental Property, is open now!!

✨😀🍩🥳📣🙌🤩🍻🔔💥

If you’ve dreamed of owning rental properties but you want a step-by-step roadmap to show you the ropes (whoa, how’s that for a mixed metaphor?!), this is the course for you!

If you’re thinking:

“Awesome! Could this course help me run faster, jump higher, reduce wrinkles, and build six-pack abs?!”

Uhhhh … nope. Not yet.

But if you’re thinking:

“Awesome! Could this course help me avoid losing tens of thousands of dollars in dumb novice mistakes as a real estate investor?”

HECK YEAH!

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By Paula Pant

7 Expensive Rental Property Investing Mistakes to Avoid

My readers and podcast listeners regularly reach out to me to say that they’re afraid to invest in rental properties because they don’t want to put their life savings at risk on a deal.

I get that – but, if you approach real estate investing the right way (with risk management in mind), then you […]

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Written By Paula Pant

This was Every Landlord’s Nightmare …

The excellent, the normal, and the terrible. Two weeks ago, I saw them all.

I’d like to share the harrowing story. It’s a story of triumph, resilience, and late-night burritos. A story that immersed three days of my life — and is now over, chapter closed, with nothing else needed for at least another […]

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Written By Paula Pant

15 Insightful Books about Investing, Money, Work and Life

I love to read. If you share my enthusiasm, you might enjoy this variety of books about money, work and life that I recommend.

Feel free to scroll, or click on one of these links to skip ahead to your favorite section.

Productivity Books Money Mindset Books Investing Books Real Estate Books

Productivity […]

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