The majority of my previous two posts have focused on home loans and how the game isn't in our favor while most of the population is tuned out. Guess what? It's the same in the commercial arena and no one notices it there either.
Read MoreWhen I was forty years-old, a friend asked if I wanted to invest in a commercial real estate deal. He was assembling a partnership to purchase a small retail building. At the time, I was a property manager, and my friend was a broker.
Investing in commercial real estate had been a goal, but my finances were a mess. Unfortunately, I had to wait. I couldn’t admit my poor financial situation, so I simply asked my friend to think about me for the next deal.
That embarrassing moment ignited a desire to be in a real estate deal. But to achieve that dream, there was one thing I needed to do—grow up.
Read MoreThere’s a well-established financial concept known as “pay yourself first.”
The idea is that to properly save for wealth an individual must first put aside a small portion of their income for themselves. That slice is often suggested to be 10%. Using the remaining 90%, the individual pays the mortgage, the bills, and buys groceries. But the “mine to keep” money must come off the top. If it doesn’t, there will never be enough to go around, and the individual will stay perpetually poor.
Read MoreIf you’re an aspiring writer, a struggling author, or a novelist who is ascending their way up the sales charts, then this article is for you. If you’re none of those things, this article also applies to bloggers, YouTubers, and anyone else who creates content.
Read MoreRecently, I overheard some friends talking about buying a new, bigger house. The housing market is hot and many people think they need to get in on the action. Perhaps it’s the fear of missing out (FOMO) that’s got so many people acting like ding-dongs when it comes to buying their next house, or they’re caught up in the latest trend.
Read MoreI was recently talking with a colleague who said he was close to retiring. Gil (not his real name) is in his early fifties and slightly quirky. He’s the type of guy who marches to the beat of his own drummer. Although he works for a large, corporate-think company, he sports a long beard and tattoos. He’ll freely talk about politics and other matters that most folks would shy away from. With his wife, he lives in the country – far away from the hustle and bustle of society.
Read MoreIn my late twenties, I had personal debt that soared to over $32,000. To ease the burden of various monthly payments, that debt was rolled into a second mortgage. As things happen, I ended up divorced (my first). As part of the settlement, that second mortgage became my responsibility. I’m not bitter nor blaming anyone. It’s the way life goes and how I ended up where I am today.
Read MoreIn the previous post, I mentioned the need to rebrand. Now, let’s talk about how to go about making it happen. Before we get too far down the road, let me state the obvious—I’m not a branding expert.
Had I been an expert, I wouldn’t have initially selected Building Income as a brand name, thereby necessitating a rebrand. However, I’m not afraid of change or some bumbles along the way. With that said, let’s get to work.
Read MoreIf you’ve never been here, then everything looks as it should. Feel free to skip this post and move on to the next article. However, if you’ve visited the site before, you might notice some big changes. It’s gone through a rebranding, and if you give me a few minutes, I’ll tell you why it happened.
Read MoreRecently, I was on the highway and spotted the little blips of paint separating the lanes.
I’ve seen them plenty over the years, but this time I really took notice. As I thought about those dashed boundaries, I had an epiphany:
Everything in the world is connected to the white lines on the road.
Allow me to explain.
Read MoreThere’s a correlation to the amount a person reads and their success in life. The average American reads one book a year while the average CEO reads more than one book a week.
Read MoreAn October 13th, 2018 article in the New York Times discussed how Jared Kushner avoided paying almost no federal income taxes several years running. According to the article, Kushner, who has a net worth of $324M plus, paid little to no taxes from 2009 through 2016. Just by my first two sentences, you can see the slant of the article – how things are tilted unfairly toward the rich.
Read MoreOn January 4th, I released The Side Hustle, a self-published crime fiction novel. I didn’t seek a publisher for this novel for a couple of reasons.
Read MoreOn the previous New Year’s Eve, I wrote a post (How Many Books Did You Read This Year?) that detailed the number of books I read (30) in 2017. This was in follow-up to an earlier post, You Are What You Read. Personally, the latter article is one of my favorites and in it I shared my personal reading plan.
Read MoreWhen most people learn that I formerly was a police officer, they raise their eyebrows and will usually say something like, “Really? Why would you quit?”
Read MoreA friend of mine, Andrew (not his real name), is married with two kids. A few years ago, his life was like many Americans – he carried consumer debt, had no savings, and was stressed out. Life was not turning out the way he’d hoped. Then he realized he was responsible for the mess he was in and set about to change things.
Read MoreI read the most astounding paragraph in the June 19th, 2018 edition of USA Today. In Wealth of Millionaires Surges 10.6% to top $70 Trillion for the First Time, David Carrig was reporting on the World Wealth Report 2018 recently released from global consulting firm Capgemini. It was the third paragraph of the article that really caught my attention,
Read MoreIf you’re looking to purchase an investment property, whether it be a residential single-family home or a commercial building, the purchasing process is very similar. While there are some differences between the two processes, I thought they are close enough that I thought we should take a quick run through to get a discussion in place for future articles.
Read MoreWe spend our lives with risk.
There is everyday risk like driving to and from work, school, or some event with our spouse. At any moment, we put ourselves on the road with other people who may or may not be in full control of themselves whether it be from alcohol, lack of sleep, or relationship induced stress. Some of these people are just plain morons who should not be allowed to drive - but they're given a license anyway and we willingly chose to get on the road with them.
Read MoreBecoming wealthy is not something that happens overnight. Sure, some people win the lottery or have a windfall of money from an unexpected inheritance, but you should not be holding your breath for something like that to happen to you.
Read MoreA blog focusing on growing wealth through commercial real estate investing and developing along with aggressive savings and personal responsibility.
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