Category: How to be rich
-
How the middle class is getting screwed and 10 things you can do to stop it.
It doesn’t take a math wizard for you to look at your checking account and know that your dollars aren’t going as far as they used to. And the current administration is telling you that things are better economically and you know this just isn’t true. The real problem though is the middle class that…
-
What is DSCR and why it is so important in real estate investing.
When I first started investing in income producing real estate. There was so much I didn’t know or even understand. My first several properties that I purchased I just wanted to be able to charge and earn in rental income twice as much as the mortgage payment. I wasn’t overly sophisticated on all of the…
-
This is a huge advantage that you don’t even know you have.
This morning I read one of the headlines on a popular financial account that I follow on twitter. It said this: Around 1.4 million Britons could lose a fifth of their disposable income if mortgage rates stay at current levels according to the Institute for Fiscal Studies. The reason this jumped out at me is…
-
3 mistakes new investors make when buying their first investment property.
We all make mistakes especially when it is the first time we are doing something. These mistakes usually don’t have long term consequences. Well, we hope not at least. Most mistakes can be over come. However, when it comes to investing in real estate if you can prevent these mistakes you will be way better…
-
How to to turn $30 thousand dollars in to $500 thousand.
A lot of us didn’t learn this math in school because it isn’t taught this way. Instead you attend school from age 5-18 taking a bunch of classes and courses that they tell you are important and you learn later in life that they really weren’t that important. What I have done here is outlined…
-
Demystifying Present Value: Unlocking the Power of Financial Evaluation
Present value, in finance and investment, refers to the concept of determining the current worth of a future sum of money or a series of cash flows, discounted to reflect the time value of money. It is a method used to evaluate the profitability or attractiveness of an investment opportunity. When it comes to real…
-
How can I save and invest more money?
Author James Clear in his monumental best selling book, and the one book I highly recommend everyone read at least twice has a lot to say about the 1% rule. The 1 Percent Rule states that over time the majority of the rewards in a given field will accumulate to the people, teams, and organizations…
-
Why you will Never be able to Save yourself in to wealth.
One of the old adages I have heard a million times is this exact phrase. You can’t save yourself in to being wealthy. Translation: You can’t only save money and expect to accumulate wealth. It is impossible. The money you made yesterday is worth less than it is today. And it will be worth less…
-
In honor of Tax Day, let me tell you how much you actually pay each year in taxes.
Today is Tax Day 2023. As you are scrambling to make sure you file your taxes remember this. It wasn’t until 1913 when the 16th amendment was ratified which gave Congress the legal authority to tax all incomes. Up until that point there were no federal taxes. Up until then it was only done at…
-
The one calculation often overlooked in real estate investing.
We all know that the current real estate market is highly competitive and as a real estate investor it is getting harder and harder to find deals that cash flow. With some of the deals I have done recently my cash flow has been solid, but not like it used to be. So one of…