Do you keep a supply of food on hand?

[Timothy W.]

This is not to be apocalyptic but to bring back to the front of people's minds a tradition that seems to have been lost recently. People used to keep pantries with significant stores of preserved food on hand in the case of emergencies or a temporary loss of income. I have personally experienced times when I've not had the money to buy food and have had to not eat for a day or two and/or eat for about $1 a day. Having been through that, whenever I sell a property or do a deal that flushes me with quick cash one of the first things I do is increase the preserved food stock.

In real estate, investing and just life in general for that matter, you have to anticipate the possibility that you may be without capital for a while for some unforeseen reason. I have a sense we are especially prone to this in real estate as not many other investment vehicles may need unexpected repairs and in the event of a natural disaster hitting your portfolio, you're not only dealing with the damage to your home but the income from your portfolio is instantly gone until you reach an insurance settlement and repairs are done.

For these reasons, I personally think it's smart for a person in the feast/famine lifestyle of real estate investing to keep at the bare minimum a one month supply of nonperishable food on hand. It's ridiculously easy to accomplish - even for apartment dwellers. I was able to create a stock that I could put inside an 18 gallon rubbermaid tub that could be pushed into the back of a closet. If anyone wants some photos of how I did that, I could put that together.

So let's hear it. Do you carry at least a 1 month supply of nonperishable food on hand? If not, speak up and within 7 days I'll help you get set up to where you can say yes. I'm willing to work with folks on this to get this set up. A 1 month supply is not the end game, but it's an easy start that most folks can handle.

Tim

[Rich Weese]

I wish I could find my previous posts on this subject, but as most know, I'M NO TECHIE!!
This is a subject I'm real involved in. I don't mean to Proselyte here, But I'm Mormon. Our leaders have suggested all members have up to a TWO year supply of food, 6 months of expenses in reserve cash, as much water as possible and some way to prepare and rotate the food.
My wife and I have done that. When we had 6 kids at home, I bought 20 acres in S. Utah and was fully self sufficient.Installed 1/2 acre pond,12 ft deep, with rubber liner, 60 ft tall wind generator, auto tracking solar panel system, batteries, a 300 ft deep well, low voltage elec, solar fridge, timber on the acreage, a 24x30 basement UNDER a garage for food storage, sleeping bags, pillows, guns, ammunition etc.
Now, my kids are grown and gone. I still have more than 2 year supply of food and lots of water, as well as cash, gold and silver.
PLEASE, don't forget the water. You can LIVE a long time with no food, not so long with no water. This is really important.
Three examples.
1. Wifey and I were in Cancun during Wilma. It destroyed all 5 of our condos. We were without elec for 9 days and without running water for 30 days!!

Before you say it can't happen in U.S.

2. St. George , Utah had a forest fire TWO HUNDRED miles north that burned up the electric substation and transmission lines. No elec for 4 or 5 days. That means, no gas pumping ability, NO groceries(all cash registers are down) , no elec stoves, and a lot of other problems.

3. Also S. George. The dam that supplies water broke New Years eve 20 years ago and went roaring down Virgin River Gorge, damaging I-15. It is the only HWY between Vegas and no. Utah No trucks were making trip. People panicked and emptied the grocery stores in half day.

I always have felt that it is good to plan for the worst and hope for the best.

If there is enuff interest in this subject, let me know and I can post or blog in greater detail. Pm or vote for post to let me know of interest. Above all, follow Tims' suggestion. It is like insurance. You don't expect an accident or medical problem, but you have insurance... This only makes sense. Good luck. Rich in FL.

p.s. If you're in my area and we incur an emergency, you're welcome to come share my stuff-not cash and gold/silver!