Recent content by thumbs

Very impressive! Keep at it and thanks for posting!

Good for you! That day will come before you know it. Enjoy the journey along the way!

I think this is sound advice. One you are settled, you may find a neighbourhood nearby that suits you better.

Nicely done!

I feel the OP's pain. I have several residential rental properties that are professionally managed, and one I manage myself. I have learned over the years that I am not a very good landlord. If you can find a good property manager, I would suggest you go that way. The $300 below market value...

You asked "how do I even know what on track is?" I would recommend you do some reverse engineering. How much do you want to have at 57? Then do the math and figure out how much you need to save and invest each year, month or week to get you there. Some assumptions will need to be made, but at...

Awesome. Good to hear things are back on track! Keep us posted on your progress.

Great advice here. I have been actively buying rental real estate since 2010 and really enjoy it. I think the thing you need to figure out is if it suits your personality. Don't just chase returns. Finding, negotiating, and financing a property gets me excited. I have not taken the time to...

I feel like this is less of a financial question. Do you want to be a landlord? It's certainly not for everyone. Also, how in love are you with the house? If things didn't work out with the girlfriend, would that be the house you would want to move back into? Or could you be just as happy in...

I'm glad to hear that things are getting back on track. I bet the whole process of losing your job would have been much more difficult than it was if you didn't have that war chest stored up.

Way to go Penny6! Continue to keep us posted.

Way to go! Savour the feeling. You've earned it.

How much of the 1.6 million is in your personal house and savings and how much is in your two rental properties? 1.6 million generating 3k per month gross seems low to me.

Would you have room to cut expenses if needed? I am learning towards taking the RIF package.

I haven't read all the replies... but I didn't see anyone suggest switching to cash. The OP's issue seems to be sticking to the budget, as much as tracking his spending. That's what my wife and I did a few years ago, and have never looked back. Cash and will power.