It was a few weeks ago when I thought about one of my friends...I hadn't talked to him in some time. I messaged him via Facebook to see what was going on. I asked if we could chat sometime soon and catch up. He responded that he was swamped at work and really didn't have any time to talk right now. Then he sent me the following words: "Coronavirus is killing me in … [Read more...]
Why You Should Invest in Real Estate
I've been meaning to do a real estate post for some time now. I'm finally getting to it with this one. In my walks around the neighborhood I've been listening to The ABCs of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss and really enjoying it. The book is a good, solid primer on real estate investing and I wish I had read it before I got … [Read more...]
Why I Bought Rockstar Finance After I Retired
Here's a fun post I think you're going to enjoy. I liked rereading the article since it was like visiting a bit of history. As many of you know, I bought a financial curation website called Rockstar Finance at the end of 2017. I worked on it for a bit over a year, growing and monetizing it, then sold it for over twice what I paid for it in March 2019. Since then, … [Read more...]
Five Reasons You Should Invest in Storage Units and Three Ways to Do So
I've shared on various posts that I have a ton of cash laying around at the present moment. I have found a use for some of it in private real estate lending, but there's still plenty left over. I'd love to buy some more rental apartments, but both markets I'm interested in (my current home of Colorado Springs and where my current units are in Grand Rapids, MI) are way … [Read more...]
How to Invest in Private Real Estate Lending
I have mentioned from time to time that I'm making 10% back on money ($125k so far) I've loaned to a friend who's buying real estate. Some of you more perceptive (and interested) readers have picked up on this and sent me notes. Here's an example of one I received recently: From reading your money blog I see that one of your income streams comes from lending money to a … [Read more...]
The Pros, Cons, and Alternatives of a 1031 Exchange
I have been considering various options for my real estate investments. My preference would be to buy more rental units, but both markets I'd consider (where my current places are in Grand Rapids, Michigan or my current city of Colorado Springs) are waaaaaaay over-priced IMO. And I'm more of a value buyer when it comes to real estate. I could just call it quits and sell … [Read more...]
Seven Ways to Invest in Real Estate to Get Across the Retirement Finish Line
As regular readers know, I'm a big fan of real estate investing. For those who don't know, you can get caught up by reading why I got started in real estate, how my real estate investing plan came into being, and the results I've had from real estate investing. The summary: It's been awesome and I wish I had bought more when I had the chance! I've been thinking about … [Read more...]
What You Need to Know about Fundrise and DiversyFund
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...]
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