I am looking more

like if we bought one doing it in another 10 years. It would be save the cash first while still investing in mutual funds. Then, buy it. We could just put more in mutual funds instead.

This is why I’m excited about the rental aspect

My husband can indeed do the work. He just needs the motivation. lol Guys like Mr. Money Mustache and Lacks Ambition are doing all their work themselves, and I know that’s a huge advantage in staying ahead of the game and keeping a lot of the money in your own pocket rather than farming it out to someone else. If my husband wasn’t Mr. Super Genius at this sort of thing, I don’t think I would even be considering this as an option for us, but I see now, and even Dave extols this, how it can be a huge financial boost to us, but….we have to buy the rental with cash, and it’s got to be a deal. Like, a helluva deal to even be a consideration.

I don’t think I have the time for it

My youngest is 2 yrs old and my oldest 13. My hubby just can’t do things like dishes and has to limit even his cooking. He has a hard time standing long. It leaves me going from sun up to sun down. I also homeschool my younger kids. I do have a reliable guy I hire to work on our house. He is very reasonable and I have known him forever. He is who built my swing set. I think hubby could manage the renters. It’s the maintenance that red flags me. With rental properties you do get a pretty solid passive income though even if it’s not huge.

I know, and thank you

but I don’t think I can learn how to use all the right saw thingies in just one afternoon. I live in a crooked little cabin. I believe the trim sizes vary vastly in width since the house is crooked and that’s why my husband isn’t totally motivated in finishing the trim work.

Jacob from Early Retirement Extreme has the same mindset as Mr. Money Mustache

I’m fired up reading these guys blogs. The thing is, they are flipping brilliant (like mega i.q. type of brilliant) guys. They’ve figured out how to live large on less very early on. I need to order Jacob’s book from the library after I plow through the library books I have on my bedside table. I’m not down with how he and his wife separate their finances, but I like the way his brain works in a lot of other areas.

I wouldn’t do it

It cuts into your profit margin is you have to pay someone else. I know a lot of people pay property management companies to maintain and oversee the rentals, but that costs money. Also the best deals out there right now are for cheapo houses that have to be overhauled. If you can do it yourself, you’re keeping all those labor costs to nil. I don’t know, Keisha. Maybe you need to take a home improvement course yourself at the local community college and learn this stuff yourself. I’m actually thinking of taking a carpentery course myself. I’m sick of nagging my husband to finish with the trim in our house. Might as well figure out how to do it myself. How hard can it really be? I just need the knowledge. We have the tools.

See my hubby can’t which is why I think it’s a bad idea.

He is disabled. He has severe back and neck issues. They cause hand tremors. He worked as long as he could. We thought he would work till we paid the house off. It got worse faster than we thought so his work fired him from it. The house payoff took way longer than we thought. I know how to find great cheap properties. I just don’t know if maintenance and no pays would kill the plan.

Can you do the repairs yourself?

I know my DH can. You also want to buy a steal, but that’s what DR always talks about. One of the blogs I’m reading, the guy always advertises on Craigslist and rents for less than the going rate in his neighborhoods (I think his number is for 90% of the going rate but I have to go back and look. His blog is called Lacking Ambition). Anyway, his thought process is that in renting for less than others in his locale he can cherry pick his renters from a wider range, and the ones he does select end up staying for extended periods because they’re getting a better deal than most. Not bad. Ironically, I just stumbled across an email from a realtor wanting to show DH and I a nearby property with rental potential. How ironic is that? Gotta ask DH how this happened. I haven’t put the word out that this is a consideration. Quite frankly, I want to put more money into a couple of different funds I have in mind first and go for the rental after all that. I’m very excited and optimistic about our future right now. DH income is going up every month, our expenses are going down, and our future is looking very promising. It looks like a lot of us will be going forward this year. I think we’re all a lot smarter for what we’ve been through, so I’m excited about what 2017 will bring every single one of us on this group. :0)

Rental properties

What does everyone think of owning debt free rental properties? Hubby would love to own one. I am personally chicken of someone not paying or trashing the place. That blog really got me thinking about our long term since hubby is disabled and we have 7 kids.

Hi, I am new here

I actually have an HR degree and have done some professional resume writing. Mostly I do it for my friends and family. I do not think you need to pay someone all that money when alot of it can be done yourself. I would be happy to look at your husbands resume. Every resume I have redone has actually landed someone an interview. And one quastion – what you think about this service (online payday loans service with no credit check)? Thank yuo and best of luck to you!!

The word on the street is that things are about to go south with my husband’s job

He’s worked with this company for 13 years, and they’re in the process of consolidating 5 large companies down into 1 smaller one. In the past year, they’ve let go of 8 people, and they seem to just be making their way down the line. He has a resume that is functional, I suppose, but we’re looking into having his resume professionally written. Does anyone have any experience with this? I.E- was there a particular company that you used that you were pleased with, how much do you think is reasonable to pay for this service, etc? Also, does anyone have any thoughts on some of the extras that are offered in conjunction with the professional resume- cover letter, linked in profile, etc? We want to get moving with this process, but I don’t relish the idea of dropping $1k on a resume, cover letter, linked in profile, etc. On the flip side, if it gets him a job in his field in this crazy economy, it might be worth it to just bite the bullet and spend the money. I’d really appreciate any feedback from those of you who’ve had experience having your resume professionally done. Thanks in advance!

I was the one that said the piece about the healthcare

I’ve had the discussion about what things cost on your own—I was out at 16, she’s 22 and knows that she needs it…we were without for a bit before cobra kicked in and she saw what it cost for her meds–without insurance. She also knows that 2 part time jobs without benefits will not cover all her bills and college. She is finally working towards a goal.

On the other side of the coin, I have a friend that has 2 kids that are getting ready to get phased off his insurance, both have dead end jobs, no benefits and no clue. one of them has been married/divorced and both graduated with useless degrees.

Oh man, sorry to hear it is so rough, hang in there!

And I gotta say I disagree with whoever posted that they would drop their child from health care. Young adults think they are invulnerable and may not choose to pay the high price of a private policy. God Forbid, something bad could happen, and they could end up denied surgery, or stuck with a pre-existing condition. There are just too many stories of people who don’t have the money to pay who get turned down for treatments.
Deny any other thing you want, but not health insurance.

I guess that would be some better

I just really hate to see her/them struggle when they don’t have to, and the fact that her father and I can be “good parents” to let her struggle. That just eats at me. I know I have to let this play out but sleep has eluded me for the past two nights just thinking and restraining myself.

I’ve been debating the question of whether a college education is a requirement today, regardless of what field she goes into

I have to say, I think a college education really has become as critical today as a high school diploma was 20 years ago. She may not ever become a mortician, she may not even work in her degree field. But I’m trying to remember the last job application I filled out which did NOT require at least a Bachelor’s degree or some kind of at least vocational training. It doesn’t actually matter what the degree is. Rather, it shows future employers that the job candidate has not only the brains, but the discipline, to set their eye on a distant goal (ie, the opposite of “instant gratification), and work to get it. I easily believe that being a woman of color sets her up for more challenges than a young white man would face in her shoes. But even the young white man would have a heckuva time getting any job worth more than minimum wage, and with promotion potential, without a college degree. Those of us who are self-employed often came to this place after working in the professional realm (either blue-collar or white-collar) for a number of years. She has to start somewhere, and starting off even self-employed is already tough enough. Trying to do it without a college education just makes it harder. And good luck getting a blue-collar or white-collar job without either a bachelor’s or very specialized certificate training in hand. In this jobs market, she needs every ace up her sleeve she can get. Dropping out of school isn’t a guaranteed hard road, but it sure doesn’t pave the way to success.

You are so right about one thing, at least in my case..

I do not understand about being a black woman. But we can sympathize and empathize about being mothers.

I agree that we should, to the degree we have been blessed and worked hard, we should make arrangements for those left behind. Now, to leave a trust fund baby? Not necessarily. That which is not worked for is not always appreciated.

Of course, we shouldn’t want our children to suffer. Surely you are asking this tongue in cheek. You write so lovingly about your dd and your love for her and her abilities. I quite confident she is quite capable of whatever she puts her mind to.

I know in our family, my dad worked hard all his life, most of his adulthood he was self-employed till retirement in 2009. There were many years both my brother and I were not involved in my dad’s business. My dh joined my dad 2 different times as an employee. The last time was in 2000 and has been there ever since. Now we own one of the 2 businesses my dad started so I understand the part about a family business and passing it on.

In my dad’s case he didn’t know for a long time that either of his kids would join him in business. I guess that is where I am coming from …. don’t assume she will want to be a part of it just because you saw it as a ticket to a secure future, as secure as it can be in today’s times. But just because she doesn’t want to be part of it now, if that is the case, doesn’t mean she won’t later, just like finishing college.

Our dd has also been blessed by a business that she has not ever really shown an interest in running. Does that mean I should “force” her into the family business just because it’s there, running and viable? I don’t believe so. If her giftedness is not in the field of self-emploment & running a retail establishment (which is one of our businesses) … to me that is like putting a square peg in a round hole.

However our dd loves children and being with them. She works part-time in a church preschool 5 days a week and loves being with the children. It is hard work in it’s own way and so underappreciated and underpaid.

Our dd is in a different situation than yours. She has congenital physical health issues (not mentally impaired) that make it more difficult to work full time in a physically demanding job like retail. Because of her health we have had to make arrangements so she has some income coming in besides her own via the preschool and the disability she receives. She has a heart condition that usually leads to a shorter life expectancy so we may outlive her. However, we are helping plan her financial future in the event we both preceed her in death.

Dd was not interested in college and we felt it was not a pre-requiste to what she wanted to do, whether she worked with children or in the family business.

I wish your daughter the best and I hope you have some peace soon about her situation.

We are Christopher, and I think you and her dad have done a wonderful job of it….

Living in the South, in an area that is 75% African American, I can honestly hear what you are saying about the struggles a black woman has without a higher education, or marketable skill at minimum… The lady who has a booth next to ours is a black woman who has worked hard to own her own business, and in her words, become a roll model to many young women to break the stereo type that befalls these young ladies in the deep South…

Would it have been easier if he were a fellow student? I was thinking about that….I mean, I know she isn’t my child… but I heard the exasperation in your writing, and she became “our child ” LOL… and I thought, ” I would feel a lot better if he were in college”….

Just call me Mama 🙂

Pun totally intended :)

Aren’t we supposed to plan for our heirs? I have worked hard to leave her something, same as people did for me… We really are supposed to want our children to suffer? I am not asking her to do something she is physically or mentally incapable of doing.