The quality of tenants occupying your rental property is extremely important…Get it right… and they will put cash in your pockets month after month while growing your net worth. Get it wrong… and they’ll seriously harm your cash flow. It’s worth getting it right.Now, before we jump into some tips for this, keep in mind that there are real advantages to having a good property management company handle the nuts and bolts of tenant screening for you. However, you may not be ready for that yet. And
Most folks don’t think of taxes as being something they can put to work for them. Isn’t the whole purpose of the tax code for the IRS to take away huge chunks of your hard-earned money?So how can the tax code be your friend?Well, whether you ever consider it your “friend” or not, real estate investing does allow you to get some real benefits out of the tax code. Quite a few, actually. We’ll touch on just a few today.First, though, we need to get really clear on an important issue…Profit Is in
How do you get rich? What do rich people differently from everybody else that enables them to become so wealthy?Great questions!And I’ve got some answers. I won’t try to cover everything here ‒ but I will give you 5 “Get Rich Habits” you can start putting to work for yourself right now…Hang Out With and Imitate Wealthy PeopleThe company we keep has a profound effect on how we think and act. It’s hard to become wealthy when practically everyone around you is stuck in a poverty/scarcity mentality.
How do you draw the line between taking care of yourself and having “positive self-esteem” (the good kind ‒ not the modern, wimpy snowflake kind)… versus being flat-out selfish, and self-centered to the point of being a real nuisance to society?It’s a good question. In part because it helps clarify your purpose in life ‒ what a lot of folks call your WHY. (Go here, here, and here for more posts that touch on your personal WHY… and “why” that matters a lot to your success.) Today, though, I