When Mindy and I first moved to Colorado, we spent $400,000 on a nice house. We had just completed a huge remodel and wanted a place that didn't need any work. We'd enjoy Colorado life.But we weren't happy with our new neighborhood. Many of our neighbors didn't share our values. The high school kids who lived around us had nicer cars than us. No one mowed their own lawn, … [Read more...] about Oops I Did It Again
Hey look, JL Collins, author of The Simple Path To Wealth, is out with a new book:How I Lost Money In Real Estate Before It Was Fashionable is JL's true story of a disastrous real estate transaction. Short of being electrocuted, everything that could have gone wrong went wrong. And then some.The story starts with JL trying to decide whether he should buy a Porsche or … [Read more...] about JL Collins And The Difficult Path To Wealth
Live-in flipping is a great way to make large amounts of money tax-free. You have to live somewhere, so why not live in a home that will help make you rich?In this post, I'll share:How I got started with home flippingMy deals including my numbersMy best tips for live-in flippingLearning How To Get My Hands DirtyI never planned to be a DIY home flipper. I just … [Read more...] about How To Successfully Flip Homes For Fun And Profit!
Today's guest post comes from Leif over at Five Year FIRE Escape. Leif bought a home, but now questions the purchase...Have you heard the sad, sad news that us millennials will be stuck renting forever? I know. How unfair. And here’s some more sad news: If you do own a house, it sucks in retirement. From your math teachers to your parents to the random … [Read more...] about To Rent Or Own: An Odd Tale Of Buyer’s Remorse
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)