Mortgage rates are always a hot topic in the news. Whether they are up or down they are newsworthy. There is a way to save on your mortgage and get a better great rate, regardless of whether rates are rising or falling. Mortgage points have always been a source of confusion, and fear for many…
In my few decades as a real estate investor, I’ve had my fair share of mortgages. I’ve seen it all, from the highs of property booms to the lows of market crashes. I’ve navigated through fluctuating interest rates, tricky loan terms, and yes, the dreaded Private Mortgage Insurance (PMI). Early in my career, I even…
Buying a house can be intimidating, especially if you need more money to make a down payment. But it doesn’t need to be that way. In my several decades as a landlord and real estate investor, I have purchased more than a dozen homes, with a total of $800 out of pocket. I bought my…
Welcome to Dad is Fire. Usually, the about me section of a blog is to tell you who I am and to talk about myself. This blog isn’t so much about who I am, as it is what I am. So what am I? I am someone who was raised by a dad who treated…
Real estate is a vast field with countless niches, making it challenging to determine where to start. When I was a teenager, I used to go to the library and read books on real estate. I also stalked the for sale ads and for rent ads in the newspaper. One piece of advice I remember…
In my conversations with my kids, one topic that frequently comes up is the idea of knowing when enough is enough. It’s a lesson that, while simple, holds profound significance for our happiness. Understanding when we have enough is not just a practical consideration; it’s a powerful mindset that can transform our lives. It shifts…
When my wife was pregnant with our first child, I put a lot of thought into what life lessons to teach our kid. I was in my late 30s and stewing over how old I would be as they grew up. I kept thinking, if I die while they are young what do I want…
When it comes to choosing a mortgage, one of the most significant decisions homeowners face is whether to opt for a fixed-rate mortgage or an adjustable-rate mortgage (ARM). While fixed-rate mortgages offer the comfort of predictability with a consistent interest rate throughout the loan term, ARMs provide flexibility that can be appealing, particularly for those…
As a Chartered Financial Analyst with over 20 years of experience in real estate investing and financial services, I’ve seen firsthand the financial advantages of owning a home versus renting. I have rented to hundreds of families over the years and I’ve seen thousands of applications from tenants to rent. I have also owned homes…
When buying a house, many people are aware that they can negotiate the price. Some might even consider asking for a home warranty to be included in the deal. Home warranties are a common negotiation point because agents often receive commissions for selling them. But here’s the thing: you can negotiate much more than just…
Have you ever wondered why an old, worn-out car does not have the same value as a brand-new one? The same principle also applies in real estate, called rental property depreciation. As a real estate investor, you must understand this principle in detail, which is important for your financial success. Correspondingly, rental property depreciation primarily…
I want to be a good dad and I try hard to be one. It’s not easy but I try to be present. I love my kids and my wife very much. Nearly my entire motivation for wanting to retire early is to have time to spend with them, and to just be present. That’s…
How to screen tenants? This is one of the most frequent things people ask me. Finding a tenant and then screening them scares people. It shouldn’t. I’ll write a post and share my application in the future. For now just know I screen people before meeting with them and walking them through. This gives them…
As a Chartered Financial Analyst (CFA) with over 20 years of experience in finance, including managing Investment Risk and Investment Product Teams, I’ve seen countless individuals make costly mistakes with their 401(k) plans. A 401(k) is a powerful tool for building retirement wealth, but many people fail to optimize its potential. Below, I’ll outline some…
So many people assume they need a real estate agent. But have you ever thought, “Do I need a real estate agent to buy a house?” The short answer to that question is “no.” While real estate agents can undoubtedly provide value and expertise, motivated buyers can handle this process themselves. The first few houses…
I’m a seasoned real estate veteran with over 20 years of experience and a Chartered Financial Analyst (CFA). Throughout my career, I’ve always found assumable mortgages intriguing, yet there was seldom a compelling reason to seek them out. Now, the tide has turned. After enjoying historically low rates for several years, we’re witnessing a sharp…
