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...]
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...]
The Most Important Lessons We Learned from Flipping a House
Most of you know that I am a real estate investor and that the income from my properties is a large part of my retirement budget. All of my properties are buy-and-hold rentals, but I've always wanted to try my hand at flipping homes. Well today we have a guest post from a friend of mine who did just that and shares all her ups and downs along the way. Amanda is … [Read more...]
Our Latest Timeshare Adventure
Has anyone ever taken a timeshare deal? It usually goes something like this: The timeshare company gives you some sort of great deal/offer In exchange you agree to listen to a pitch about their company and what it offers Obviously this must work because companies keep doing it. And what's really the risk anyway? Often the offer is something that costs the … [Read more...]
Help a Reader: Buying a Rental Unit in a College Town
Here's another email from a reader asking for some suggestions on a financial situation. Please read below and give him your thoughts... I've been thinking about purchasing a 3BR condo in my daughter's college town and renting it for the long term. The college is tight for their on campus housing slots and actually have to resort to a lottery for housing each year … [Read more...]
Help a Reader with Housing Advice
I recently had a reader email me and ask about buying a house. I suggested he write something up, I'd post it, and we'd let the ESI Money community weigh in on the subject. Here's his background/questions: I know home ownership is more than an investment but I am trying to ensure my first time purchase in the near future is not a money pit and something that can … [Read more...]
Stop Acting Rich: The House You Buy Determines Your Wealth
When I posted Stop Acting Rich Overview and Thoughts on Wealth, Habits, and Happiness I promised that I would follow up with some thoughts from Stop Acting Rich: ...And Start Living Like A Real Millionaire on home ownership and how it impacts a person's net worth. This is the fulfillment of that promise. :) There's lots to share, so let's get to it. How an Expensive … [Read more...]
Lessons from a Real Estate Expert
As I mentioned in my 30-day retirement update I'm walking a lot these days. The first month of retirement I would listen to music on the days I walked alone (long walks at 7 am before most of the family is up and about). But that got boring (listening to the same stuff over and over) and is less than productive (I know, we don't need to be productive every second of the … [Read more...]
How Much Should You Spend on a House?
If you look around the web there are a whole host of suggestions on what the "right" or "best" percentage of your income can be spent on a house. Today we'll look at a couple of methods that suggest what you should budget for a house. I'll also share what we've done through the years and my recommendations on what to spend when you buy. The Highest Percentage Most … [Read more...]
My Properties Have Appreciated Over a Quarter of a Million Dollars (Over 45%)
A few weeks ago my property manager emailed me to ask if I'd be interested in selling any of my properties. I told him I wasn't but I would be interested in their estimated value. I had heard the market was "hot" for rental units and I assumed mine had gone up in value, but I wanted a better estimate than they had "gone up." He said he'd have his real estate department … [Read more...]
