Social entrepreneurship is a buzzword today.
The idea of growing a business that produces profit while improving the lives of customers and the community is attractive. Not only that, businesses that have a social component tend to outperform those that solely focus on financial gain. Businesses deliver more holistic solutions when they focus on that keep both as priorities.
A real estate landlord is the original social enterprise.
Landlords house the homeless
Renters do not have a home by definition. In the truest sense of the word, they are “homeless”. They rely on others to provide housing for them. …
Seek maximum returns
Real life and finance actually have a lot in common. The concepts that drive good financial decisions also drive good life decisions for maximizing effort and minimizing wasted time.
Look at the time to complete a project through the lens of finance to make better real time decisions.
Any time you spend doing one thing is time you cannot spend doing something else. If the potential payoff an activity is significantly smaller then it isn’t worth the effort.
This is opportunity cost.
Opportunity cost is the idea of losing out on potential gains from an…
Work smarter not harder
With work, daily life and expenses it’s easy to feel financially behind. Even high earning professionals with salaries over US$80,000 can feel like they are not making progress financially.
You’re not alone.
The solution is to make some money moves that propel you forward by design. There is one asset class that is treated differently than all the others. It essentially is the teacher’s pet of the IRS giving those who take advantage direct access to the financial fast track.
Real estate investing.
Let me be clear: I’m talking about owning property that is intended to…
Track the pennies and the pounds will take care of themselves
Property owners tend to hire for a lot of one-off jobs. The task is often short in duration or otherwise does not require full-time attention so hiring contract labor is appropriate.
But paying contractors can be a headache!
Some contractors don’t want to legally report their income to the authorities. As a property owner needing to track expenses to maximize tax write-offs, this makes it very difficult. In the United States, you are required to report any pay any monies paid to someone over $600 per year. …
“Build an audience.”
“Grow in public.”
“You can sell your products on the internet.”
I’ve been trying and failing to build an online audience for many years now. I’ve hopped from platform to platform, each with lackluster results. The idea of getting on a content generating hamster wheel with little to no chance of growing my business didn’t sound that great.
Nevertheless, I know that having an online audience is one of the single most valuable assets in the digital age.
Each platform has it’s own personality. To be successful on social media you have to be social. You have…
There are two kinds of investors: invest in what is versus invest in what ought to be. One is a dreamer, while the other is a pragmatist. As an individual, decide where is the best place to put your money.
Here’s the thing, the world is changing so quickly that if you aren’t aggressively seeking ways to exponentially grow your money, you’re losing. And losing big. Government debts are rising and money printing is at staggering heights. This means that every day your currency becomes less and less valuable.
Pragmatic investing can no longer cut it. Dividend plays, value stocks…
Owning income-producing real estate is secretly one of the most lucrative investments hidden in plain sight. Ironically, everyone knows about it and understands how it works yet few move forward to purchase. Property management and maintenance can be a source of a headache but it also holds the key to profitable investments.
There are small changes that, when implemented, make on-going management stress-free.
The key is to think about real estate investing as a business. Businesses thrive on systems and standardization. The more unique each asset in the portfolio, the harder it will be to systematize and operate.
Have you ever wondered how some people can constantly reinvent themselves and thrive in every situation? The people that defy all categorization? The ones with endless confidence to achieve everything they want?
I have a hunch that they leverage something I’ve dubbed chronic curiosity. It’s the constant pursuit of knowledge and thriving in what brings genuine interest.
I’ve found success by following bursts of inspiration in areas where I have genuine curiosity. For example, I have a conquerer type personality with chronic curiosity. Once I “conquer” something, I pretty much lose interest in it. …
Makes the compounding effect even better
They say that compounding interest is the eighth wonder of the world. Over time, it compresses your activities and accelerates your output. Instead of your output being 1:1 with input like on a linear scale, the results of your efforts produce exponential returns.
Compound interest is an accelerant, but being purposeful in activities makes the end result even more powerful. If you concentrate your efforts in these areas, your output will be monumental.
High leverage activities
High leverage activities are the things that effectively multiply yourself. When you have a high degree of leverage…