In my last “one percent” post I discussed my decision to go without a television and the impact it had on my life. This post will deal more with the income side of things, which is what we typically think of when we hear about the one percent these days. There is a good chance that you and I fall into this one percent income group even if we have modest incomes, but remember, modest is relative. Read the rest of this entry »
After making the comment in my last post that I was selling shares to have additional cash on hand for rehab of the property I’m buying, it might seem a little odd that I’m making a purchase a day later. In my defense I did make a comment that I would continue to fund my Roth IRA for this year and would make additional investments in that account. That is what happened today. I transferred some cash over to the Roth and picked up a few shares of Realty Income Corp. (O) Read the rest of this entry »
Wow! Looks like I’m going to start my first real estate investment soon. My realtor called late in the afternoon and notified me of a closing date for next week. I’m not going to lie, I’m really excited about this! I think this is going to work out well and I’ve done enough homework to make me feel comfortable with the project I’ve decided to undertake. Read the rest of this entry »
Back in November I wrote a post about due diligence when contemplating real estate investing, focusing on how I attempt to mitigate the risks of purchasing a foreclosure. Besides looking at single family residences instead of multi-family ones not much has changed since then. I’ve looked at dozens of additional properties since that time and feel like my skill of evaluating a home for potential purchase has improved. Since my due diligence phase is over, a contract has been signed, and a closing date is just around the corner I thought it would be a good idea to consider the risk of actually purchasing a foreclosure. The risks are real, but just as in stock investing there are ways of limiting those risks. Read the rest of this entry »
For several years I have been intrigued with real estate as an investment. I can remember watching shows on T.V. (back when I owned one) of people flipping houses that honestly didn’t need much work. It seemed like a way of making decent money and since I had not found my way to stock market investing (not that I had any money even if I had found my way) real estate offered and investment vehicle in which I felt comfortable with and not intimidated by. Sure, there are plenty of ways to lose money in real estate just like there is in stocks and the past few years have exposed the folly of those who overextended themselves and made purchases of properties at exaggerated values only to watch the wealth they believed themselves to be creating vanish. Read the rest of this entry »
