No one likes paying taxes. And that goes doubly for bootstrapping entrepreneurs trying to build income without the safety net of a W2 job. But Uncle Sam sees it differently. The IRS expects self-employed people to pay double FICA taxes, covering both the employee’s...
Guest Author
What Bills Help Build Your Credit?
You probably know that skipping bill payments can drop your credit score. The reverse is also true — paying your bills on time can positively impact your credit. But that's only true when creditors or others report to the credit bureaus. Find out what bills help...
What Happens If My Tenant Goes to Jail?
No landlord thinks their tenant will end up in prison. And yet. Rental properties come with plenty of upsides, like consistent passive income and investing in an asset that is likely to appreciate in value over time. But they come with their fair share of risks and...
How to Compete with Cash Real Estate Offers
Beaten by a cash offer on your last real estate offer to purchase? You’re not alone. The percentage of cash offers in real estate markets across the country have surged to 25% per the National Association of Realtors, up from just 15% a year ago. Still, you don't need...
The Role of Dividends in Financial Independence/Retiring Early
For just about any investor, the goal of putting their money to work is to eventually stop working. To reach financial independence and be able to cover their living expenses with their investment income, and maybe retire early. In order to do this, you need to save a...
Can Landlords Charge Tenants to Replace the Carpets?
Carpets don't stay pristine forever. Often landlords have to replace them between every single tenancy. But should landlords always pay for replacing ruined carpets? Can they ever charge tenants to replace them? Here’s what landlords need to know about carpets,...
10 Financial Lessons from Star Wars: The Mandalorian
Master Yoda once said, “What you have learned, always pass on.” Or something like that. Like Yoda, The Child (aka Baby Yoda or Grogu) in “The Mandalorian” already knows how to use the Force. Let him become your teacher — and learn, too, from the title character, the...
How Do 1031 Exchanges Work? Defer Taxes on Investment Properties
Owning that first rental property is a huge milestone for investors. It lets you dip your toe into the market, gain experience in property management, and build confidence in your judgement. But for ambitious landlords, the first property marks just one step on a...
What Is Due Diligence in Real Estate, and How Do You Do It?
In short, due diligence in real estate means “do your homework.” This goes beyond looking for the “perfect” property, whether for your personal residence or an investment. Due diligence means conducting thorough research to ensure the home is a good investment before...
Real Estate Contingencies: A Guide for Buyers & Investors
Real estate investors and buyers need protection when entering a sales contract for hundreds of thousands of dollars. Price comprises just one piece of the puzzle. Buyers and sellers must agree on all aspects of the transaction, and contingencies in real estate offers...