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.
[Read more…] about Decision Point: What to Do with the Rental Property?
August came and August went. And with it, I now have a child in Kindergarten! What a mind job! While I begin to adjust to yet another reminder that I am getting old, let’s take a step back and dissect the month that was.
We have a potentially lucrative investment opportunity on the horizon. It will take an aggressive savings strategy to be able to jump on it. So, I wanted to walk through our thought process on how we plan to attack this ambitious short term savings goal.
