The first rule of a rental property that is intentionally purchased is that it must be cash flow positive. You want to hold assets that are putting money in your pocket every month, not assets that are taking money out of your pocket each month. When you're evaluating an asset, it's useful to ask the question, would I buy this today? And if you wouldn't buy it, that doesn't necessarily mean sell it.
#417: Our first anonymous caller is getting married. What are the financial considerations the couple should be thinking through since there is a large income gap between them?
Our second anonymous caller is concerned about her ability to continue working due to major depression. Should she consider disability insurance?
Carly is an accidental landlord and would love to keep her rental property. The problem? It’s losing money right now and she’d probably take a loss if she sold it. What should she do?
Shelby has an amazing opportunity to relocate to Tokyo for work, but she’ll have to take a pay cut. How should she think about her investment options?
Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode.
Enjoy!
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For more information, visit the show notes at https://affordanything.com/episode417
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