I was sitting around the campfire last weekend, enjoying the warmth of the flames and the comforting crackle of burning wood. My cousin, a financial advisor brimming with enthusiasm, leaned over and brought up a topic that’s been buzzing incessantly on social media: Roth IRA conversions. He insisted that I should convert my Traditional IRA…
I originally wrote this about fake financial gurus in Sept, 2021 a few weeks before I retired at age 42. I’ve made some updates to formatting, but left everything else the same. Oh no, not another fake guru talking about FIRE. I have never really paid attention to all the websites and YouTube videos around…
Oh no, I’m 27 and being sued! In 2007, I made a bold move. After years of following a well-calculated strategy in real estate, I decided to take a leap outside my comfort zone. I had already built up a small portfolio of homes. These homes were my key to early retirement. I always bought…
Imagine waking up tomorrow without a job—how long could you sustain your lifestyle before panic sets in? For many, the answer lies in their emergency fund, but determining the “right” amount isn’t always straightforward. An emergency fund is often touted as a financial necessity, but how much you need and what constitutes an emergency fund…
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…
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…
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…
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…
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…
Real estate is a wonderful investment for many reasons. One of the best reasons is leverage and the ability to buy with no money down. You can buy as asset with other people’s money and have other people’s money pay for the loan. When I was first learning in the late 1990s I stumbled across…
Should you max out your 401k? It’s an intimidating idea. Before jumping into why you should max out your 401k, let’s step back. If you are under 50, you are allowed to contribute up to $22,500 to your 401k. This does not include employer contributions. It is also the 2023 limit. There are other nuances…
This was originally published 10/12/2021, a few weeks before I retired at 42. Last month, I wrote that we were almost ready to retire. In the next week, I plan to formally announce my retirement to my employer. I have started to tell a few close people at work. The reactions are consistent. Let’s just…
We love to read to our kids and teach them to read. (Admittedly, my wife does a much better job of it than I do, she’s great actually). There are several go-to books that I love to read them. Dr. Seuss’ “Oh The Places You’ll Go” is actually the first book I read to my…
There is a big fear that keeps people from being landlords. People are afraid that a tenant will destroy rental property. Yes. It happens. Every landlord has horror stories. The stories aren’t myths. Landlords exchange horror stories. You think you’ve done a great job screening tenants. But don’t worry about whether or not tenants will…
Should you hire a rental property management company to manage your rental house? No, in most cases you did not need to. When I started buying houses in my early 20s, I was adamant that my real estate business did not interfere with my day job or my social life. It sounds like a property…
