Our Project House Progress – 3 Weeks In!!

Oh my word, has it really only been three weeks since the house closing? Liz and I have absolutely been busting it over there – I’ve been working early mornings, she’s been working late nights, and we’ve both been putting in our fair share of hours on the weekends…

So what the heck have we been working on? What progress have we made so far?

Well, if you follow me on Facebook, you pretty much know EXACTLY what we’re doing and where we’re at with the progress. I’ve been uploading videos, pictures, and sending posts about what we’re working on each day. If you just said to yourself, “UGH! I’ve been missing out! I want to see what’s going on!!”, then you’d better start following us on Facebook! Simply like and follow my page here.

For the rest of you that prefer to follow via post updates like this…then here . . . → Read More: Our Project House Progress – 3 Weeks In!!

Flip Houses or Rent Them? Which is the Better Investment?

Have you ever thought about this? This debate gets almost as heated as the topic, “Should you pay your house off early?” (which, by the way, I definitely think you should!)! The question we want to focus on today is, “Should you flip houses or rent them?”

There are people that make $80,000+ a year flipping houses, and then there are those that earn $10,000 a year by renting them out. So which option is best? Well, before we dive into the answer, there are a few questions that need to be answered first.

Here’s what we’ll tackle in this post: With which option do you earn the most money? Which has the best tax benefits? What is the best long term investment? (look at time and money) Flip Houses or Rent Them? Which is the Better Investment?

Liz and I constantly find ourselves in this debate (even today). She . . . → Read More: Flip Houses or Rent Them? Which is the Better Investment?

Our New Rental House Project! Video Walk Through!

rental house project

Hi all!

In case you missed it, Liz and I purchased a new rental house project on Thursday!

It’s definitely going to take some work:

wood paneling, shag carpet, and dog, cat, and smoke smell!

Check out the video below where I walk you through the house to get a complete view of the “before” footage!

How We Just Scored a $100,000 House for Just $75,000

deal on real estate - house image

Are you looking for deals on real estate, but can’t seem to find them? Sure, the market’s hot right now, but that doesn’t mean that there’s no deals to be had – you’ve just got to dig wider, deeper, and probably get a bit creative with your digging style! If you’re constantly on the lookout for a deal on real estate, then you might want to incorporate this new strategy we discovered with our last rental purchase.

How We Found a Crazy Deal on Real Estate

We put our John Hancock on the documents just yesterday. We’re officially the new owners of a 3 bedroom, 1 bath house and we only paid $75,000 for it!

“How the heck did you land such an amazing deal?” you might ask.

I’m ready to teach you, my friend. Hopefully you can use this same method and buy a screaming deal of your own . . . → Read More: How We Just Scored a $100,000 House for Just $75,000

How to Flip a House: From the Search to Sold!!

flip a house

Have you ever thought about flipping houses for some extra income? The people on TV make it look pretty easy, but is it really a viable means to making some additional dollars? Personally, it was never in our plans, but my sister and brother-in-law have made it a speedy reality. Less than three years ago, they bought their first flip house, earned more than $35,000, and have gone crazy with four more flip houses since!

In this post, written by my sis from VHHomeFlips.com, they’ll teach you:

How to find cheap houses How to calculate the offer The best ways to renovate on a budget How to sell it for HUGE profits!

If you want to flip a house for some extra income, there’s nowhere better to find the information you need than right here. Enjoy!

How to Flip a House: From the Search to Sold!!

Why do we . . . → Read More: How to Flip a House: From the Search to Sold!!

We Just Missed a $40,000 Opportunity…and We’re NOT Letting It Happen Again

Find a deal on a house

The idea was planted in our heads over two years ago. Robert, the grandson and caretaker of the woman next door, asked us if we’d ever be interested in buying the house once his grandmother passed away.

“Of course!” I would always say. And we left it at that.

Well about three months ago, the grandmother passed on and it was my intention to speak with Robert again to affirm that I was interested in the house. But…

When he was home, I wasn’t… When he was doing yard-work outside, I was at work.

We just never seemed to connect naturally like I had hoped…

And then, he was suddenly out of the house and his mother (the actual beneficiary of the estate) was there cleaning up and moving stuff out! I decided enough was enough so I knocked on the door and introduced myself.

To make a long story . . . → Read More: We Just Missed a $40,000 Opportunity…and We’re NOT Letting It Happen Again

How to Buy a House In a Ridiculously Expensive Area

buy a house in an expensive area

“Seriously Derek… All your posts talk about people buying houses for $100k and $150k. What kind of fairy tale land is this? I live in California where the cheapest house known to man is $700k. How in the heck can I afford to buy a house?”

If you live in New York, Boston, Seattle, San Francisco, San Diego, or any other ridiculously expensive area, then this post is for you. Because today, I’m going to show you how it’s possible to purchase your very own house on almost any income.

Want to buy a house in an expensive area? Step right up and let’s get crakin’.

How to Buy a House in an Expensive Area

Let’s say that you have your heart set on buying a house (and you absolutely refuse to move to a lower-cost area), what all can you do to make it happen?

The Rules of Buying . . . → Read More: How to Buy a House In a Ridiculously Expensive Area

Free Mortgage Payoff Calculator – How Fast Could You Pay Off YOUR Mortgage??

mortgage payoff calculator

You paid off your credit cards, student loans, your car. You saved up a solid emergency fund and now you’re investing 15% for your retirement. Holy crap, you’re rocking it!! And now it’s time to start paying off your house! Woot woot!!

FYI – If you’re not quite up to this step yet (ie. you still have consumer debt), be sure to use this debt snowball tool for help! And then come back to this post when you’re in a better position to slay your mortgage!

How Fast Could You Pay Off Your Mortgage?

Alright, so now you’ve got a 15-year, a 30-year, or maybe even a 50-year mortgage (hopefully not though!). What if you started throwing some extra money at it? How quickly could you pay it off? I bet you’d be surprised!

Related: Should You Pay Off Your Mortgage Early?

In January of 2015, I made the decision . . . → Read More: Free Mortgage Payoff Calculator – How Fast Could You Pay Off YOUR Mortgage??

Should You Pay Off Your Mortgage Early?

pay off your mortgage early

You just received a $100,000 inheritance (Woot woot!). You want to be smart with it…so buying a Ferrari is out of the question. But should you pay off your mortgage early? Or, should you put the money into the stock market to earn more interest over time?

This is the age-old question…

Should You Pay Off Your Mortgage Early?

Ask almost any financial advisor and they’ll tell you to put your money into the market…

Here’s their reasoning:

You’re likely paying just 4% (or less) interest on your mortgage loan, and the market has historically earned 7-8%. Thus, it only makes sense to put your money in the stock market and earn more. The interest on your home is tax deductible, so it makes more sense to keep it and save money on taxes.

It sounds completely logical at first, and many people go along with their reasoning (including members . . . → Read More: Should You Pay Off Your Mortgage Early?

Rental Properties – Are They a Curse or a Blessing?

are rental properties a smart investment

“You’re going to buy a rental property??” …my broke friend exclaimed. “I had a buddy that tried that… The tenants didn’t pay the rent, they trashed the home completely, and he lost tens of thousands of dollars. You won’t see me buying a rental property any time soon.”

More often than not, this was what I heard from people when I let them in on my investment plans a few years back. It wasn’t very encouraging to say the least…and it honestly took some of the air out of my sail for a while…

Are Rental Properties a Smart Investment?

Ignoring all of the “wise advice” from my friends and neighbors, I went ahead and bought a rental place anyway.

So what’s the verdict? Has land-lording been a complete nightmare? Has my rental house been burned to the ground? Or are all of my friends just complete idiots that knew . . . → Read More: Rental Properties – Are They a Curse or a Blessing?