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Updated almost 9 years ago on . Most recent reply

User Stats

147
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59
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Ryan Heywood
  • St. Helena, CA
59
Votes |
147
Posts

How do you reward yourself?

Ryan Heywood
  • St. Helena, CA
Posted
I'm curious as to how other people here on BiggerPockets tie rewards into their investment process. For example, I'm a car guy and could spend way too much money if I don't keep myself in check. Assets before liabilities, right? So, I've challenged myself to first invest in 5 rental units before spending a cent on my next vehicle. Anyone else do something like this? I would love to hear about it.

Most Popular Reply

User Stats

55
Posts
16
Votes
Zachary Curry
  • Real Estate Agent
  • North Miami Beach, FL
16
Votes |
55
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Zachary Curry
  • Real Estate Agent
  • North Miami Beach, FL
Replied

This is a personal belief. It doesn't matter if you work a 9-5pm or you are an investor. It is just a little more important as an investor to have and maintain discipline. Which in most cases is how people became investors. It is said we should experience life with abundance. This also entails setting a portion of profits for good works. 10% for local charities, churches, etc. You should always take a portion and put in savings for future transactions, and remove your initial investment capital with a three year cost of capital allotment (meaning in three years due to inflation money is worth less so you should add a premium to ensure you still have your working capital) then after that the sky is the limit.

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