Afford Anything

Tag: rental property

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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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#352: Ask Paula: Should I Pull Money from My Emergency Fund to Invest or Pay Off Debt?

Anna and her husband have volatile income, but Anna thinks that having 18 months of living expenses is unnecessary. She’s torn between paying off her student loans ($30,000) or investing the money. Mentally, she always figured she would pay off her debt first, but wouldn’t investing pay off in the long run?

Charlotte and her husband are taking a phased approach to financial independence, where they need to bridge two gaps before they each turn 59 ½. How can they calculate how much they need at each phase?

Elle has a retirement plan in place, but her company is adding a Roth 403(b) option soon. Should she stay the course or adjust her strategy in these last five years before retiring?

Sara wants to purchase land and build her dream house by refinancing her rental property and turning her current home into a second rental. How can she improve this plan?

Joe Saul-Sehy, my friend and former financial planner, joins me to tackle these questions on today’s episode. Enjoy!

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The Cheapskate’s Guide to Kitchen Renovations (+ Rental Income Report)

Some people are addicted to booze; others gambling.

Me? Home renovation.

Three months ago, we finished a $13,000 remodel on Rental House #4. To celebrate, we told our contractor to demolish a kitchen in a different house.

Call it a victory lap.  🙂

We’re renovating House #2, and we’re coordinating everything — from demolition to final clean-up — […]

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Written By Paula Pant

How I’m Making an Extra $3,450 Per Year with Three Weeks of Part-Time Work

Last month, one of our rental properties looked like this:

Today, the same property looks like this:

Renovating this rental property took three weeks, cost $13,648, and increased our rental income by $3,450 per year. We worked roughly 38 hours, spread across those three weeks.

Want to learn more about maximizing rental […]

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Written By Paula Pant

Revealed: Our Bottom-Line Results from the Last Two Months …

Let’s open the books … again.

Every month I reveal my income, expenses and bottom-line results from my real estate investments.

This month’s update is long overdue (it’s a 2-for-1!) because I’ve been trying (unsuccessfully) to write a deep-dive lesson to accompany this article.

I don’t want to merely publish numbers; I want to add insight like “how […]

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Written By Paula Pant

Why the One Percent Rule Matters (When Buying a Rental …)

Hey, I have a question for you.

You buy a rental property. Congrats. How long will it take before the property pays for itself?

“Uhhhh…. ??”

Okay. I thought so.

By the end of this article, you’ll know how to calculate this figure.

In the process, you’ll understand why the One Percent Rule matters … […]

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Written By Paula Pant

The Ultimate Guide to Hiring a Property Manager

Last month, I pocketed $7,461.43 from my rental properties — after expenses — and spent 5.5 hours looking after these investments. That’s $1,356 per hour.

That story is below.

But before we dive into those details, I’d like to highlight one event that made last month special.

Nope, it’s not the income.

Nope, it’s not the […]

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Written By Paula Pant

Real Estate Investment Report: How I Earned $5,604 in Five Hours

Once a month, I share my rental property investment numbers.

I hope that this gives you more insight into whether or not buy-and-hold real estate investing is a path you want to pursue.

(Also, I’m trying something new this month by directly putting the net income — not the gross, the net — into the headline, […]

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