All Forum Posts by: Eric Taylor
Eric Taylor has started 6 posts and replied 112 times.
Post: Can Rich Dad Poor Dad beat up Dave Ramsey?
- Investor
- Mission, TX
- Posts 117
- Votes 40
Originally posted by @Steve B.:
In an appreciating market Kiyosaki leverage theories are usually best.
In a depreciating market Ramseys debt-free theories are usually best.
The long term problem with Kiyosaki is that without an exit strategy, in a cyclical market, you will always encounter what is traditionally called "gamblers ruin". A lot of people on this forum are going to find that out the hard way, as many did in 2008.
Post: Re: Why I Don't Like Cheap Properties
- Investor
- Mission, TX
- Posts 117
- Votes 40
It is an age old argument: 6 properties valued at 3 million vs 20 properties valued at 3 million. For me each property comes with a possible headache/risk hence I prefer the former strategy.
Timely and encouraging post.
Post: Make the wife understand
- Investor
- Mission, TX
- Posts 117
- Votes 40
I truly feel your pain. I impotently watched as my wife spent our investment returns of 1500$ per month over a 12 year period. You gotta fight the good fight now and attempt to create a way whereby investment money/ returns get re-invested. Gotta try the win=win argument. Good luck. It took me 12 years.
Post: Buy and Hold Rentals
- Investor
- Mission, TX
- Posts 117
- Votes 40
Research the properties in your intended are and daily perform calculations as per BP to determine the quantitative values of a property. Do know what the properties in that area rent for, . In short do the math on all prospective properties to get a quantitative feel for that market.
Post: What happens when my portfolio lender says, "No more loans."
- Investor
- Mission, TX
- Posts 117
- Votes 40
It is kinda like a stop sign. I would pause, review my holdings and debt, redo my calculations, and proceed based upon what the data says.
Post: Can I build a tiny house and rent it out as a vacation rental?
- Investor
- Mission, TX
- Posts 117
- Votes 40
As long as you realize that you will be helping to cover some of anticipated costs and not making money, you will be fine.
Post: Buy and Hold, Does It Really Make Sense?
- Investor
- Mission, TX
- Posts 117
- Votes 40
I am completely appalled by the prospect of purchasing a run down fixer upper, fixing it up and then selling it. But that is the beauty of REI, different strokes for different folks. I am a buy and hold type of guy. Give me cash flow that incrementally increases each year and appreciation. For me it is about net worth. An extra 40K is cumbersome, and not pertinent to my long term goals. Great post.
Post: I make $1000+ a day...would like to get enough passive income to quit day job
- Investor
- Mission, TX
- Posts 117
- Votes 40
The only rule I subscribe to in life is that: You Do Not Have Bills Until You Have Kids!!!!
Thus simplified calculations for a single person are dwarfed mathematically by the addition of a family.
Post: What would YOU do with MY $100,000??
- Investor
- Mission, TX
- Posts 117
- Votes 40
Key questions you need to address for yourself prior to investing 100K
1) How much time do you have to spend? Less time suggests Buy and Hold vs Stock market index fund.
2) Risk tolerance? Can you lose the 100K and still be OK financially?
3) Can you sleep well with 200K vs 400K vs 900K worth of mortgages?
4) Aside from the money, do you have any other skills that would be handy in the world of REI? Do you like dealing with tenants?
5) Relax, do your research, and start with a small project