Let's begin with some definitions:leanFIRE: Retiring on just enough to exist. You may have to:eat dog foodlive in a musty basementkeep the thermostat at 55 in the dead of winterBut you don't have to work.fatFIRE: Retiring with way more than you need. You can:go to Taco Bell every night for dinner (skip the $.99 menu and go for the big-ticket items!)enjoy … [Read more...] about When leanFIRE Goes To fatFIRE: Lifestyles Of The Dirty And Smelly
home flipping
Live-In Flip Update: 9 Months In
We moved into our latest home in November of 2019. The home is a dated, split-level with 1970s paneling, ugly wallpaper, carpet everywhere, and snot yellow walls. Fun!:Oh, throw in some cigarette stench and a dilapidated pool. This is the home only a flipper can love. But that's what I am, so we bought it. It's time to provide an update on our progress.While Mindy … [Read more...] about Live-In Flip Update: 9 Months In
A New Mortgage With A Side Of Lucky Market Timing
Back in September, Mindy and I bought another home to live-in flip. Getting a good deal meant that we'd have to pay cash and close quickly. Here was our plan to come up with $350,000+ and what we'd do after:September 2019: Sell $100,000 in stocks, borrow $200,000 from our HELOC, sell the Acura NSX ($45,000) and use cash savings to fund the home purchase.January 2020: … [Read more...] about A New Mortgage With A Side Of Lucky Market Timing
The Why Of DIY
We're BIG do-it-yourselfers. I love to look at a dated home and imagine the possibilities.Give me your teal toilets.Show me your brown bathtubs.Let me tear out your 1970s decor.I shall make it beautiful.The sense of accomplishment I get from doing the work is incredible.The home we just completed in Colorado was our biggest effort. Here is the before … [Read more...] about The Why Of DIY
Five Tips For Finding Your Next Frank Lloyd Wrong Home To Flip (with Video)
Live-in flips are how Mindy and I built the core of our nest egg. The huge advantage of a live-in flip is that unless you're making loads of money, you don't have to pay taxes on the gains. As long as you've lived and owned the home for 2 of the past 5 years, a married couple can make up to $500,000 in profit and pay NO taxes (the limit is $250,000 for the unmarried). And if … [Read more...] about Five Tips For Finding Your Next Frank Lloyd Wrong Home To Flip (with Video)