The Real Estate Financial Planner Blog

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First $100K Is The Hardest

First $1MM

Charlie Munger said: “The first $100,000 is a bitch, but you gotta do it. I don’t care what you have to do – if it means walking everywhere and not eating anything that wasn’t purchased with a coupon, find a way to get your hands on $100,000. After that, you can ease off the gas a little bit.” But, why? What’s the math behind his statement? Saving Your First $100K Let’s look at the math together. Assume for a moment that you’re able to save $10,000 per year. And, let’s further assume that you’re able to earn 7% per year … Read more

The Lifestyle of Success Secret

Lifestyle of Success Secret

So far, we’ve already discussed how to fail, how to be ordinary and how to be successful in the previous 3 parts: The Lifestyle of Failure The Lifestyle of Ordinary The Lifestyle of Success The Lifestyle of Success Secret (illustrated below) Now, let’s examine The Lifestyle of Success Secret to see how financially successful folks deal with their Daily Standard of Living and their Overall Standard of Living. Same set as previous parts: money measured on the left and time measured on the bottom. Money increases from bottom to top. Time increases from left to right. The money they earn … Read more

The Lifestyle of Success

Lifestyle of Success

We’ve covered The Lifestyle of Failure and The Lifestyle of Ordinary. Now, we will move on to part 3 in our series on examining how folks handle their money and how it impacts their financial security by talking about The Lifestyle of Success. The Lifestyle of Failure The Lifestyle of Ordinary The Lifestyle of Success (illustrated below) The Lifestyle of Success Secret In the The Lifestyle of Failure, we saw people living beyond their means and using debt that led, ultimately, to bankruptcy. In the The Lifestyle of Ordinary, we saw people living below their means and investing but spending … Read more

The Lifestyle of Ordinary

Lifestyle of Ordinary

This is part 2 in our series on examining how folks handle their money and how it impacts their financial security. The Lifestyle of Failure The Lifestyle of Ordinary (illustrated below) The Lifestyle of Success The Lifestyle of Success Secret In the previous part, we discussed the The Lifestyle of Failure where people were using debt to live beyond their means. Now, let’s examine The Lifestyle of Ordinary. Just like before… on the left-hand side we are measuring money. Less money is on the bottom, more money is toward the top. Along the bottom of the chart is time. Earlier … Read more

The Lifestyle of Failure

Lifestyle of Failure

Have you ever wondered why some folks struggle financially while others seem to get better with each passing month? Let’s examine 4 different lifestyles describing the relationship these different groups have with money. The Lifestyle of Failure (illustrated below) The Lifestyle of Ordinary The Lifestyle of Success The Lifestyle of Success Secret First, let’s look at a cautionary tale of what not to do by looking at The Lifestyle of Failure. On the left-hand side we are measuring money. Less money is lower, more money is higher. On the bottom is time. The beginning on the left. Later to the … Read more

The Best Real Estate Investing Strategies

Real Estate Investing Strategies

Over the years, I’ve seen several articles, blog posts and podcast episodes that share with you the best real estate investing strategies. But, none has really taken a mathematical approach. That’s what I intend to do here using a comprehensive list of the best real estate investing strategies and the Real Estate Financial Planner™ software to do the math. Creative Financing Owner Financing (including Richard Roop’s The Ultimate Strategy™) Wrap Financing including Pre-Foreclosures Loan Assumption Rent-To-Own/Lease-Option Family including Master Leases * Sandwich Lease-Options Agreement-For-Deed Family Subject To including pre-foreclosures Buy and Hold including Short-Term Rentals and assisted living Quick Turn/Flip … Read more

Real Estate Financial Planner™ Podcasts

Welcome to the Real Estate Financial Planner™ family of podcasts. FREE Real Estate Investing and Real Estate Financial Planning™ Podcasts FREE Real Estate Financial Planner™ Podcast FREE REFP Inside the Numbers Available for Purchase REFP Advanced Available for Purchase Premium Invitation Only REFP Insider FREE Nomad™ Real Estate Investing Podcast Check out the descriptions of them below. City-Specific versions of the Real Estate Investing and Financial Planner™ Podcast FREE Select your city to get a combination of recordings of live real estate investing classes, interviews and localized content including models of a variety of real estate investing strategies using numbers … Read more

How to Speed Up Saving for Retirement

Not willing to wait 40 years to achieve financial independence? Maybe you’re not 25 years old anymore and you NEED to speed up the saving process. If you’d like to learn how to speed up saving for retirement, then read on because we cover that topic in detail below. Defining Retirement Money Requirements So We Can Optimize Before we can optimize our speed saving for retirement, it is important to understand the retirement money requirements. To be able to support yourself in retirement you need enough money to cover your expenses. Seems obvious enough, but let’s look at the component … Read more

Stability for Real Estate Investors

Was reading Shane Parrish’s Farnam Street email newsletter yesterday about Stability and wanted to expand on it for real estate investors. Shane points out that there are two types of stability: passive and active. He goes one to talk about how passive stability requires no intervention while active stability does require intervention. In general, real estate has active stability. If you don’t pay taxes on your property—even if it is free and clear—you’ll lose it. However, I think some parts of real estate investing can be broken down as passive or active. For real estate investors, here are some examples … Read more