All Forum Posts by: Steve Schneider

Hey Matt. Great discussion you are going to start here, I am very excited to see all the responses. A few of may favorite books so far have been.

- Set for life by @Scott Trench. This book changed the way I handle my money and look at creating wealth

- The Miracle Morning by Hal Elrod. Very motivating book that can certainly lead you to some great habits.

- Traction by Gino Wickman. Great book for getting you in the right mindset about business. Will most certainly help you scale once you have a larger portfolio. 

- 2 of @Brandon Turner's books The Book on Rental Property Investing and The Book on Managing Rental Properties. I use the book on Managing Rental properties as my procedural manual basically, very very helpful. 

Again, great post. All the best!

Steve

Welcome James! 

There is lots of learning to be done here. As stated above check things out under the education tab. Also just roll through the forums, there is so much good information on them. If you are looking for some books to read, send me a message and i'd be happy to share a few that I found extremely helpful. 

I agree with everyone above. You need to provide more information than that to decide if it is a good deal or not. Provide those numbers and I'd be happy to throw in my 2 cents. All the best.

Wow! So sorry to hear all this. Please keep us posted on how things are going. All the best and don't get to discouraged. 

I tend to agree with @Kevin Phu. 

@Scott Trench's Set for Life, changed something in my mind for the better. I always new I had to save money but was never good at it. This book has done wonders for me. I've read it twice now. 

The Miracle Morning - this is an unbelievable book as well and it has easily 4X my productivity in a day and made me a much happier person as well

I'd also add Traction by Gino Wickman as well. It is an excellent book on scaling your business and building the right systems to make it happen. I also keep this book close by. 

All the best and enjoy the ride!

Welcome Gordon. Glad to see another investor from Alberta join the BP community. Enjoy everything BP has to offer and if you have any questions feel free to reach out. Best of luck!

@Scott Trench thank you very much for the quick reply. That makes a lot of sense thank you very much for clarifying.

Once again, great job on the book. It was very helpful and certainly has us motivated. Can't wait to put all that info to work. 

Hi everyone,

I just finished up @Scott Trench book Set For Life. I was just curious if anyone has calculated there Real Net Worth as he describes it in the book. If so I was hoping to get some advice on a few questions I have in regards to it:

- When he talks about real assets what all applies in this model? Cash obviously, but what else would apply as a real asset? What about equity in rental properties or home equity lines of credit (extremely cheap money that can be used as a down payment for more properties). 

- What about other lines of credit? 

- What else would be considered an asset in his model?

Thanks for taking the time to read this post and thanks Scott for writing such a good book. It has really motivated my fiance and I to take the next steps towards financial freedom.  

All the best,

Steve

Couldn't agree more with @Ash Badry. Attend those meetups, read as many books as you can and listen to the podcasts on BP here. They are great! All the best and good luck with getting going. 

I agree with @Chris Eaker building a relationship is a great idea if you want tenants to stay long term. I feel a simple gift card to Home Depot would be perfect. I've also read of landlords doing the same thing at Christmas and birthdays. It's a very small price to pay to build that relationship (it's also a write off). 

All the best.