All Forum Posts by: Donald Dickerson

In Houston, we have the RICH group which meets the first Saturday of the month. 

The website is richclub.org

It has all the info you need. Not only is it a place to meet others, but it provides a lot of educational materials and other resources. 

I explain to my tenants who want to do handyman stuff that I issue work orders, receive bids, and select who does the job. If I select the tenant, he has to give me an invoice and I pay accordingly. The rent and or security deposits are separate completely.

Letting your emotions dominate your decision making process. This can happen very easy, so never let your guard down.

The Condo where I own doesnt like the signs inside, so I put mine out on the street where the condo has no authority, but it gets attention, and causes ppl to drive in to take a look.

Do you have a 4 rent sigh posted anywhere near the condo? I have a condo and I always put up a sign near the front entrance, and I always get more calls than I can handle. 

Do both! House Hacking would be perfect for you!

IOW, buy a duplex, triplex or 4 unit and live in one of the units and rent the other units. 

The other units will pay your mortgage so you can spend your money on more important things like musical instruments and accessories. 

Welcome Anthony! BP is a great place to learn! Houston has a good real estate club called RICH. Real estate Investors Club of Houston. You can google them and get their address. They meet on the First Saturday of the month. That's where you will meet a lot of like minded folks to build a great network.

Another question: I have a property that I owner financed, so how do I track the net worth on that property for my purposes?

So far, I have just been using the payoff balance as the asset value.

Thanks Steve Vaughan ! I really wasn't asking how to become an accredited investor, just wondering what it takes. My assets (no liability) are getting close, and it's mainly because of my properties, not other stuff.

Thank you Jon for that explanation. That was the one I was trying to remember but couldn't. It's not that I have a million dollar house or anything like that, I was just trying to pin down if I could include the value of my house to my other assets to obtain my actual net worth to be a millionaire.

Stupid exercise I know, but hey, I like doing the math, and I believe in keeping track. At the end of every year, My wife and I look at our net worth and compare it to the years past, we look at our goals that we set last year, mark off the ones that we have achieved, look at the ones we haven't achieved yet, and set new ones for the coming year. 

By doing this, and keeping a record of it, it gives us a road map to follow through the year. When things come up, we see something that we might want, we look at our goals, and ask, will doing this help us attain our goals, or will it get us off our track that we set on January 1st.

Thanks to everyone else for the advice too! I like to keep on learning!