Heartland on FIRE

Decision Point: What to Do with the Rental Property?

September 27, 2018 by Mr. Heartland on FIRE

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.

Seeing the Opportunity in Adversity

September 20, 2018 by Mr. Heartland on FIRE

“When one door closes,another opens; but we often look so long and so regretfully upon the closed door that we do not see the one which has opened for us.” – Alexander Graham Bell

When you are on the path to Financial Independence, Retire Early (FIRE) you need to be looking for every edge. This way of thinking allows FIRE seekers to uncover opportunities for savings and growth in everyday activities. Whether it be house or travel hacking, biking over driving, or making delicious home-cooked meals for pennies on the dollar, the FIRE lifestyle is centered around creative thinking for everyday issues. Housing, transportation and food are predictable everyday facts of life.

However, one facet of everyday life is not so predictable:

Adversity

How can FIRE thinking take advantage of that?

Escape the 9-5 Faster with the Boost-Glide Path to Financial Independence

September 13, 2018 by Mr. Heartland on FIRE

Can you take cues from a rocket launch to enjoy the benefits of F.I.R.E. on an accelerated timeline? [Read more…] about Escape the 9-5 Faster with the Boost-Glide Path to Financial Independence

Net Worth Update 9: Paul Bunyan Edition

September 6, 2018 by Mr. Heartland on FIRE

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.

Own a Home but Looking to Move? How to Save for the Next Down Payment

August 30, 2018 by Mr. Heartland on FIRE

A down payment for a house can be one of, if not, the largest single expenses in a person’s life. It’s no wonder many choose to rent instead of purchase. However, if you are like us here in the Heartland on FIRE household, you may be addicted to real estate and home ownership may be a very important goal for you. We figure we have one or two more houses in us yet. As with all goals, a well thought out and soundly executed plan is key to achieve your objective. The problem is, there are several options to consider. So let’s take a few minutes and run down some of them to see what may be the best option.

How to Compare Short Term Savings Strategies

August 23, 2018 by Mr. Heartland on FIRE

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.