As you probably know, I'm a big fan of real estate investing.I currently own three properties with five buildings and a total of 14 units. We purchased them when we lived in Michigan a few years after the real estate meltdown of 2007-2009 and as a result we got them at great prices.As such, they churn off a good amount of income plus have appreciated quite nicely.I … [Read more...]
The Characteristics of Successful Investors
I think most ESI Money readers know I'm a big fan of The Millionaire Next Door (it's on my list of the only five money books anyone needs to read).In case this is new news to you, the reason I'm a fan was that I read it as a younger man, did what it advised, and became wealthy as a result. Pretty simple.Some of you may know as well that the book's author, Dr. Thomas … [Read more...]
Nine Investing Strategies Millionaires Use to Accumulate Wealth
Today we continue to review the findings from my first 100 millionaire interviews.Before we proceed, let me know if you'd like to do a millionaire interview. I'm always looking for more millionaires to learn from.To get everyone on the same page, here are the posts we've already done regarding the first 100:Findings from 100 Millionaire Interviews: The Numbers … [Read more...]
Five Tips for Growing Wealth Through House Hacking
When I wrote How to Go from Zero to Millionaire I detailed what I would have done differently financially if I had to do it all over again.But after some time and thought, I realized there are a couple things missing even from that re-writing of history. One of them: I would have gotten into house hacking.Many of you have probably heard of house hacking, but for those … [Read more...]
Crowdfunding Real Estate Investment Options
As you might imagine, I get a lot of questions here at ESI Money.I can't possibly respond to them all (hey, I'm retired and want some free time!), but when I see the same question over and over again, I usually do one of two things...I either write a post about it if I'm familiar and/or experienced with the issue or ask someone who is familiar/experienced with it to … [Read more...]
Dividend Investing Will Always Beat a Side Hustle
The following is a guest post by Millionaire Mob, a blog focused on ways to better your financial future through passive income, dividend investing and travel hacking.As many of you know, I am a big fan of side hustles and have also talked a bit about dividend investing (including offering specifics on it from a friend of mine.)Personally, I don't think it's a … [Read more...]
Deciding the “Pay Down Mortgage or Invest” Debate
Today we have a guest post from Your Money Blueprint.There's been a bit of discussion recently on whether paying off your mortgage or investing was better -- both here at ESI Money (see Which is Better: Paying Off a Mortgage or Investing More?) as well as on Rockstar Finance (see Money Match-Up: Pay Off Debt Versus Invest and here Money Match-Up: Pay Off Mortgage Versus … [Read more...]
10 Steps to Making Money in Mobile Home Investing
I love featuring authors and bloggers who have a special expertise I think ESI Money readers would be interested hearing about.As you know, I'm an investor in real estate but my places are more traditional -- homes and small apartment buildings.Today's guest poster is an expert in mobile home investing, something I find fascinating and might have investigated a bit more … [Read more...]
Which is Better: Paying Off a Mortgage or Investing More?
Here's a topic that's likely to cause a good bit of debate.I love these sorts of questions. :)Recently I have been receiving a lot of emails around the subject of whether it's better to pay off a mortgage or keep the mortgage and invest instead.For example, here's one I recently received from a reader: One question my husband and I always wrestle with a bit is the … [Read more...]
Recent Expensive Real Estate Costs
If you've read this blog for more than five seconds, you know I'm a big fan of real estate investing.Because of my real estate investments, I have been able to retire early (though I was financially independent before I had my properties).My 14 units provide the majority of the income that allows me to spend almost $100k annually without dipping into my assets.And … [Read more...]
