All Forum Posts by: Michael Lucero

Just keep it simple and do 22 at old and 9 days at the new rate and give the tenant a total amount owed and tell them the calculation.

Decide in your mind that you want to actually pursue it and stop being paralyzed. It all starts in the head, you have to be willing to take some risk or you can be stuck on the sideline letting others get deals, trust me, they prefer this. Shark or guppie, you decide.

This isnt rocket science, find a house that cash flows nearby if its possible and buy it, if you need more money for a down payment, save up, get a higher paying job, borrow from family. You have to do something yourself no one is going to do it for you.

I dont use signs, never needed them, i use online, but if i were to use signs im not sure why you would go with a conpany unless you wanted something unique which in dont think actually matters that much.

Half of what you are doing or more shouldnt be expected to change her mind, you are just showing her random dicussions with a banker and random people from a website and expecting her to change her value system? Why not have her read a widely accepted book that has transformed the mindset of many, such as rich dad poor dad, millionaire next door, etc. You also have to make it connect on an emotional level, talk/sell her on the lifestyle you can have if you do your stuff in the long term, whereas the life of rat race and standard two weeks off a year if you go the other route, after living in a house for a month or two, the honeymoon phase is over and its back to the grind. She isnt motivated by the same things you are.

She probably just needs to get educated on a very simple level of the true benefitd of being business minded and how it can help you live the life you want. Maybe she doesn't even know whats possible so of course she doesnt want it.

accidental charges, yes two days ago i found a double charge on my credit card for $112, called in and was out reimbursed. what i do now at month end is just download my credit card transactions to excel and review for any weird things and talk about them with my wife. I also see subscriptions being charged that we may no longer be using and we cancel them such as amazon prime or netflix, its like a reminder when u actually see the charge instead of forgetting about it like the companies want you to do.

My excel management was very tedious as in manually coding every charge to about 20 categories, which is a waste of time and i only did it to get a detailed idea of where we spend our money, i no longer do that.  

If you want an easier, more automatic thing use mint.com which pulls your statements and categorizes for you. Its a great free online budgeting tool.

A very good exercise is to track where you spend every penny for a few months. I assume a majority of your spend is through a credit card or debit card which you can download the activity to excel and parse thru it. Then u will have the info of where you spend, then identify which type of costs are necessary and which arent and get rid of some. This will take self discipline. Then also ask yourself if any remaining expenses can be lowered through contract negotiations or new service providers. In the past personally used a multitab excel to track all of this that i built myself. Now that i have my things in order i no longer categorize my expenses, its a waste of time, because i know the lifestyle i live will align generally with my budget that i set up over a few years.

are you doing due diligence to make sure these fourplexes would be cash flow positive? Its not just about buying the places.

run far away from those scaminars. 

 These are hilarious.