2 Ways Your Money Mindset Affects Your Real Estate Investing Success

Posted by Chris Clothier on Wed, Nov 7, 2018

Do you have a healthy relationship with money?

If you’re the type of person who’s even reading this blog, it’s safe to say you’re probably on the right track. You’re thinking about investing if you aren’t already—building your financial future and securing the very best not only for yourself but for future generations.

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Topics: money management

Cutting Down on Your Financial Burn Rate

Posted by Chris Clothier on Fri, Aug 31, 2018

Finding success investing in real estate isn’t always as clear cut as it seems: it’s not enough to just have a good property with a good tenant managed by a good company. If you want to grow your investments, increase your passive income, and meet your financial goals, you’ve got to dive deep into money management and financial strategies.

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Topics: money management

5 Sacrifices Real Estate Investors and Entrepreneurs Make to Achieve Success!

Posted by Chris Clothier on Tue, Feb 21, 2017

Do you look around and get frustrated when it seems like everyone else is doing so much better financially than you are? Does it seems like you’re struggling to scrimp and save and make it to next month while your friends and fellow investors are killing the game every time?

Maybe you feel like you’re falling behind. Despite your best efforts, you just don’t feel good enough. Maybe you feel like you finances never catch up with your goals. The expenses keep adding up and the profits never have the traction to give you a solid footing.

It’s frustrating. It’s disheartening.

But you have to ask yourself: are your money habits secretly killing your chances at financial freedom?

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Topics: money management

Rent Money Pros & Cons: Weighing 3 Ways to Get Paid

Posted by Chris Clothier on Thu, Sep 29, 2016

In real estate investment, there are endless ways to run your business. Because yes, it’s a business. Ultimately, deciding how you want to run it is down to what you prefer and what you enjoy. One of the most important elements is how you handle rent money. If you’re landlording, you deal with this directly—if you have a property manager, they handle it, but you should still be in the know about the process.

After all, certain ways of taking and processing your rent payment may be more efficient and can even increase the chance of your tenants paying on time. They may also have negative effects you may not have considered…

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Topics: money management

Conquering 6 Real Estate Investment Money Myths

Posted by Chris Clothier on Tue, May 3, 2016

Misconceptions in the world of real estate investment are all-too easy to come by.

Some are generated by what we think seems like common sense—it just seems logical, so we don’t stop to think about how it really is—or it comes from years of misinformation being passed around. Whatever the reason, myths have caused many an investor to make big mistakes in the biz.

It’s also stopped some folks from getting started at all!

One of the biggest barriers to getting started in real estate investment is money. Money is, for many of us, a big motivator for getting involved in investing in the first place. We’re dreaming of leaving our desk jobs for financial freedom, or trying to build up a strong retirement and secure a financial future for our children.

For whatever reason, money tends to play an important role. So there’s no surprise that there are quite a few misconceptions about money’s role in investing. We’re here to address a few:

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Topics: money management

6 Key Budgeting Tips for Real Estate Investors

Posted by Chris Clothier on Sun, Dec 27, 2015

The mention of the word budgeting can dry up any conversation in record time. But hey! Finance is important, especially to real estate investors. Budgeting is one of those things we all have to do, no matter how tedious it can be. A solid budget and a close, attentive grasp on your finances is key to success as a real estate investor, after all!

When it comes to money management, there’s no room for cutting corners. In the real estate investment game, no matter what kind of investor you are, the unexpected can throw a wrench in your plans. Anticipating those moments with smart money management and budgeting means that you’ll be able to handle anything that gets thrown your way. As the year winds down, there’s never been a better time to start thinking ahead.

6 Important Budgeting Tips for Real Estate Investors

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Topics: money management

The Best Insights on Saving to Start Investing in Real Estate

Posted by Chris Clothier on Wed, Dec 23, 2015

So you want to get started in those whole real estate investment thing: but you’re a little worried about cash. Maybe you’re young and kind of broke. Maybe you just haven’t had the savings rate you would like. You don’t see how you can possibly save the capital you need to get started in the foreseeable future. It’s overwhelming and maybe you just don’t know where the begin!

But hey—there's good news! Many now-successful real estate investors were once in that same boat.

There are savings strategies that yes, demand work and sacrifice, but they will help you build up your capital so you can start investing sooner rather than later.

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Topics: money management

4 Ways Your Investments Can Teach Your Kids

Posted by Chris Clothier on Sun, Sep 6, 2015

It’s never too early to start imparting wise money-ways to the next generation. Teaching children about money can be a challenge. When it comes to investing it can be even harder since we have been trained for years that our investments are private and fear of loss keeps us from sharing with those around us.  Especially our children!

My kids love being a part of our real estate investing.  They want to visit the houses and see the work done.  They have no idea the behind the scenes, but there will be plenty of time for that later.  As for now, I want to teach them to be positive and brave and to respect money and investments.

There are plenty of philosophies on how best to educate and responsibly teach kids about finance. Some earn money through chores. Some have a weekly or monthly allowance. Some pay a small fine for trespasses, from slipping with a swear to putting bugs in their older sister’s bed.

Even as real estate investors, teaching our children how to handle money responsibly isn’t easy. Money and finances can be complicated — but that doesn’t mean we can’t use our wisdom from investing in real estate to impart good principles for the future of their money management.

While these tips primarily target younger children, remember that you can always impart your financial wisdom, whether you’re talking to 12-year-olds and teenagers or your grown children.

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Topics: money management

6 FREE Money Management Apps for Real Estate Investors

Posted by Chris Clothier on Fri, Aug 28, 2015

For real estate investors, money management is a big deal. After all, when you’re trying to save up for anything: your next big purchase, a vacation, retirement...it’s important to know where your money is going and if it’s being used most effectively. There are a lot of financial apps out there, but not all of them are worth their salt.

We’re looking at money management apps that are known for their high satisfaction rates, innovative approaches or useful features that shake up the way we plan our finances. And by the way: they’re FREE.

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Topics: money management