Heartland on FIRE

Blazing a Trail Towards Financial Independence

Blazing a Trail Towards Financial Independence

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Thank You Notes from the Heart(land)

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Happy Thanksgiving!!

A year ago today, this blog did not exist.  November marks the end of my first year of blogging on this site.  It’s been a hell of a journey so far and I can’t wait to see where this whole thing goes.  So, to get into the Thanksgiving spirit, I thought it would be help to write out a list of Thank You notes for those that are responsible for the existence of this blog.

***Cracks Knuckles***

***Piano Softly Plays***

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Patience is the Smoldering Heart of the FIRE

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The flames of the FIRE (Financial Independence Retire Early) movement can spread rapidly.  Just like a campfire stacked with kindling, the flames are tall, flickering, and bright at first, but over time, these flames subside leaving the dull glow of smoldering coals.

But you don’t cook on the flickering flames.  This short blast of high heat would scorch the outside, leaving the inside raw.  You do your cooking on the coals,  sustaining just the right level of heat over a longer time.

Having an open mind, self evaluation, and taking bold action are critical to igniting the FIRE and the bright dancing flames of the initial burn.

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Decision Point: What to Do with the Rental Property?

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Rental property:  It’s a popular path to develop passive cash flow for many in the Financial Independence Retire Early (FIRE) community.  When a property is purchased at the right location and for the right price it can certainly be a lucrative investment.  But when that rental property is your former primary residence… and was not purchased with long-term rental in mind, the numbers can be a bit more dodgy.  This is the predicament we here in the Heartland on FIRE household are in.  We just renewed our tenant for 6 months and the clock is ticking on whether to keep renting or to try and sell the house.  We can’t be the only folks who have faced this dilemma, so I figured posting our thought process and analysis may be a useful exercise for others.

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