All Forum Posts by: Brian Ristola

I'll check out eMyth. Thanks

Here is another one. This one really changed how I think about work life and long term plans....and I think has a lot to do with why I will not stay in unhappy/unfruitful work situations, and ended up starting my own businesses - Siddhartha - by Hermann Hesse.

The book was written over 50 years ago, IIRC and is not a self help, how to or such. It is more of a tale...but a real good one. When I lived in the city, I would pick up copies at used book stores and hand them out like a gideon to my friends or anybody that I thought was in the right mind to to grow from the book.

Am nearly finished reading this book and thought I'd post just to bump it up again.

It has been a very enjoyable read, and argues some core concepts about how we spend out time. I now longer look at email as my first daily activity. I try to make my communications less lingering by being straight ahead and trying to give solutions early in correspondence. I can see the results already.

Ferriss talks about folks who take mini-retirements, as others have mentioned in the above posts. Seems like a hard thing to do. I can however look back on when I was in the Peace Corps in East Africa and remember a couple great examples:

One day, I am waiting on a bus from my village and this other whitey (we stuck out like sore thumbs) walks out of the bush and onto the bus. After talking with him during the bus ride, I learn he works construction 8 months out of the year and travels for the other 4 months. nice.

Months later, I am on school break (I was a teacher) and chilling in a beach side bar on Zanzibar. Guy next to me starts chatting with me, and I find out he graduated from the same college as I did, just ten years prior. Worked a couple years in whatever field he had went to school for, got bored, quit and moved to Hawaii. He works 6 months at a time as a bartender, and travels the other 6. Puts his posessions in storage or with friends and just cruises.

I think certain real estate investing could make this happen. My current business keeps me pretty tied down. While I really appreciate doing my own thing, having my wife work with me, and being able to control my daily schedule, I do wish I was able to take off for more time.

The author of the 4hww takes a look at how you create your business. As I think about how I invest, I will take a look at how things can be streamlined as well as automated so I can create a bit more time-freedom for myself.

Agreed Eric...

If a person is not 'forced' to move, or hasn't lost their job, the value of what people's houses are worth is irrelevant...buy what you can afford or don't bother. People who had no business speculating on the homes they live in is stupid.

And about the car...if you can afford to buy the vehicle you want with cash, do so.. or finance it...if you could afford to pay cash...maybe taking advantage of 0% finance is sensible for the person who could otherwise buy with cash.

I think this society would be a lot better off if 18 year olds got a stamp on the back of their eyelids upon graduation that said - "Don't buy a new car" - 'Don't believe the security BS that you think you will have just cause you are making $400/month payments".

Somewhere along the line people became incredibly optimistic (read in denial) about their personal finances.

That is the core of the problem.

People fall on hard times, for sure, but 'hard times' at least those not self-inflicted are not the problem

It would certainly make sense that they are willing to take significantly less than their asking. They drop their prices when they need to move inventory, like other businesses.

One REO (two family dump) in my town was listed at $138K this summer. It is at $85K currently.

Certainly...I am not coming at this from a sit-on-the-sidelines passive angle. Just looking for some real world experience that someone has to share. Some of the folks on the forum seem to have a few rentals, and are not working full time at it...looking for some thoughts from that perspective.

Nor would I. I have interest to invest in REI regardless of tax advantage at this point...was just steered onto the REI path from someone with that perspective.

Wheatie...those numbers are ringing a bell...thanks.

Upon last years annual trip to the accountant, our acct. recommended investigating rental property. I was whining about how much of my businesses profits are eaten in taxes (I am self employed). He said several of his clients own rental units to 'create' a passive loss...depreciation, etc that gets counted against taxes, while the passive income doesn't get taxed in the same way that regular income does. Basically a way to be in the black, while legal showing that you are in the red.

Anyone out there get into REI investing for a reason such as this? Anyone able to comment on the practicality of this idea?

Anyone have a link to somewhat recent Rental data for the US. Looking for data with regard to vacancy, rental rates, etc....

check out MikeO's blog...that may give you an idea of some of this:

http://www.1minutetorentalpropertyriches.com/id53.html

To add:

Take a variety of key words, and see how they kick out results. Look closely at the pages that come up in the top 5-7. Do this across a few interests. Don't limit it to 'Florida Real Estate'... Also, do some keyword searches for very niche interests.

In my experience (former web designer, current owner of e-commerce site), these are what have brought home the bacon.

Extended Domain (what follows the .com)
Header tags
Title Tags
Alt tags
Content (not necessary to go crazy with keyword density)
Domain

and links to a certain degree all affect your SE placement.

Yep...I am up in the White Mtns. Hopefully it won't come to pulling the door. It isn't the end of the world though...installing a door can go smoothly.

Where are your properties located?