Our final question to day comes from steve i pollow. I have been best in real state for about 20 years, and am looking to purchase my sixth property. The problem is that the tenants that live there are paying, sometimes substantially below market rent. And now you run into a problem of if you're going to purchase the property and need to have market rents to have it cash flow,. You would need to really d ut the tenants lives, sometimes, raising a rent from 600 to 12 hundred. So i just wanted to know what your advice was, or what your feelings are, because i believe that this happens a lot. Anyways, i really do appreciate your show. Learned
#390: We start this episode with two anonymous callers who have opposite problems: one says her bills are too high, while the other is worried that she’s saving too much.
Anonymous (“Izzy”) saves A LOT. She wants to relax about her spending more, and start including more joy into her life. How should she approach the next 10 or 20 years, so that she can enjoy her financial security?
A different anonymous caller (“Starlight”) has the opposite problem: her expenses are mounting. Her bills make her uncomfortable. She wants to shake up her investments so that she can tap her assets in order to make her payments. Ideally, she’d also like to buy a house in Europe within the next 10 years. How should she do this?
John liked the episode with Bill Bengen, where we discussed the 4% rule. However, he questions whether that rule should really be applied to the FIRE community.
Steve is a landlord who needs his property to cash flow, but doesn’t like to raise rents. What should he do?
Do you have a question on business, money, trade-offs, financial independence strategies, travel, or investing? Leave it here and we’ll answer them in a future episode.
Enjoy!
For more information, visit the show notes at https://affordanything.com/episode390
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