The first home I ever purchased was an all-cash purchase in 2010 for a 2-bedroom 2-bathroom condominium in an abandoned complex. I will tell you more about that purchase after I provide more context. Before meeting my wife, all my…
Tag: rent
An important math formula to learn as a landlord is your cash flow. I first learned about this concept after reading Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do…
For tax purposes, the IRS defines rental income as passive income. The idea of generating passive income from rental property sounds great. Let other people pay your mortgage while you kick back in your chair with a pineapple drink in…
My wife and I prefer long-term tenants over short-term because it is lower maintenance and consistent rental income. However, we felt that one of our properties had enough room in our rear yard to add an Accessory Dwelling Unit (ADU)…
One of my favorite board games of all time is Monopoly. I remember everybody who played with me always trying to roll high numbers to get around the board quickly to race who was going to buy Boardwalk first. The…