Instagram Mini-Blog

thestealthyrich

This is kinda of big deal. I agree most people don’t get it. It’s hard for humans to think in big numbers over and the long term.
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But if you can think that way, you’ll fare better than 99% of people. Remember
money = time = freedom.
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I think many do get it at some level as there are few houses for sale. People realize trading a 3% mortgage for a 6% mortgage doesn’t make sense unless you have to move.
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#investments #financetips #moneytips #financialindependence #savings #save #debtfreeliving #rentalproperties #interestrates #interest #finances #personalfinance #financialgoals #savemoney #millionairemindset #debtfreedom #buildwealth #rentalproperty #thefed #earlyRetirement #Fire #financialfreedom #millennialsretireyoung #retireyoung #personalfinance #moneygoals #debtfreecommunity #debtfreejourney #success #sidehustle

thestealthyrich

𝐃𝐞𝐦𝐲𝐬𝐭𝐢𝐟𝐲𝐢𝐧𝐠 𝐇𝐨𝐦𝐞 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞: 𝐅𝐢𝐧𝐝 𝐓𝐡𝐞 𝐁𝐞𝐬𝐭 𝐑𝐚𝐭𝐞𝐬 & 𝐂𝐨𝐯𝐞𝐫𝐚𝐠𝐞! 🏡💡

Today, let's talk about something crucial to protecting your most valuable asset: 𝐇𝐨𝐦𝐞 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞! 💥🛡️ Finding the right coverage and rates can seem like a daunting task, but with these tips, you'll be well on your way to safeguarding your little money factory. 🧐📝

1️⃣ 𝐂𝐨𝐦𝐩𝐚𝐫𝐞 𝐐𝐮𝐨𝐭𝐞𝐬: Don't settle for the first quote you receive. Gather at least three different quotes from reputable insurance providers, and compare them to find the best fit for your needs and budget. 💼🔍 We use a broker and she shops rates and carriers everytime there’s a renewal. Lately it’s been rough with a capital R tho…

2️⃣ 𝐀𝐝𝐞𝐪𝐮𝐚𝐭𝐞 𝐂𝐨𝐯𝐞𝐫𝐚𝐠𝐞: Determine the right amount of coverage for your rental. Consider factors like rebuilding costs, personal property value, and liability protection to ensure you're adequately covered in case of unforeseen events. We like high deductibles and high general liability coverage.

3️⃣𝐂𝐥𝐚𝐢𝐦𝐬 𝐇𝐢𝐬𝐭𝐨𝐫𝐲: A company's claims handling process is vital. Research their reputation and customer reviews to ensure they're known for prompt and fair claim settlements.

In the end we aren’t insuring for a smashed garage door, or even a overflowing toilet. We just want to cover the catastrophic. Fire, tornado, meth house. Something with a total or close to total loss.

#investments #financetips #moneytips #financialindependence #savings #save #debtfreeliving #rentalproperties #buyandhold #insurance #finances #personalfinance #financialgoals #savemoney #millionairemindset #debtfreedom #buildwealth #rentalproperty #deductible #earlyRetirement #Fire #financialfreedom #millennialsretireyoung #retireyoung #personalfinance #moneygoals #debtfreecommunity #debtfreejourney #success #sidehustle

thestealthyrich

🏠✨𝐓𝐡𝐞 𝐏𝐨𝐰𝐞𝐫 𝐨𝐟 𝐑𝐞𝐧𝐭𝐚𝐥 𝐑𝐞𝐚𝐥 𝐄𝐬𝐭𝐚𝐭𝐞✨🏠

Hey there, stealthies! ✨ Today, I want to share something that has the potential to change your life, just as it has changed ours. Let me introduce you to the world of rental real estate! 🏠🔑

This is House 80 and yes it’s boring but it makes a ton of money.

Investing in rental properties is not just about owning a piece of land. It's about creating a legacy, building wealth, and unlocking financial freedom for yourself and your loved ones. 💰🔓

Why should you dive into rental real estate? 🤔 Here are some reasons that will inspire you:

1️⃣ 𝑷𝒂𝒔𝒔𝒊𝒗𝒆 𝑰𝒏𝒄𝒐𝒎𝒆: Imagine having a steady stream of income without having to trade hours for dollars. Rental properties provide you with that opportunity! 💸⏰
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2️⃣ 𝑨𝒑𝒑𝒓𝒆𝒄𝒊𝒂𝒕𝒊𝒐𝒏: Over time, real estate has proven to be a solid investment, with property values generally increasing. It's like planting a seed today and reaping the benefits tomorrow! 🌱📈
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3️⃣ 𝑻𝒂𝒙 𝑨𝒅𝒗𝒂𝒏𝒕𝒂𝒈𝒆𝒔: Who doesn't want to save on taxes? Rental real estate offers numerous tax benefits, making it a savvy investment choice. 🧾💡
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4️⃣ 𝑪𝒐𝒏𝒕𝒓𝒐𝒍: Be your own boss! Owning rental properties gives you control over your investments, allowing you to make decisions that align with your vision and goals. 🎯🕴
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5️⃣ 𝑮𝒆𝒏𝒆𝒓𝒂𝒕𝒊𝒐𝒏𝒂𝒍 𝑾𝒆𝒂𝒍𝒕𝒉: Investing in rental real estate can create generational wealth, ensuring financial security for your family and future generations. 🌳👨‍👩‍👧‍👦

So, what are you waiting for? Take that leap of faith and start building your real estate empire today! 🌟🏰 Remember, it's not just about the property, it's about the life you envision for yourself and those you love. 💞

#RentalRealEstate #InvestmentGoals #FinancialFreedom #PassiveIncome #GenerationalWealth #RealEstateEmpire #DreamChasers
#interestrates

thestealthyrich

Another reason why housing is crazy (and usually a good investment) is be because we don’t build enough. Apparently a problem most Anglo countries share. One reason might be because we have an aversion to high density… so we just can’t pack them in like the rest of these countries tend to do.
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Oh well, just means you should buy some more properties as “rare” desirable assets tend to go up in value!
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Which banks are going to fail this weekend?
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Wild times…
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#investments #financetips #moneytips #financialindependence #savings #save #debtfreeliving #rentalproperties #buyandhold #thestealthyrich #finances #personalfinance #financialgoals #housingshortage #millionairemindset #debtfreedom #buildwealth #rentalproperty #inflation #earlyRetirement #Fire #financialfreedom #millennialsretireyoung #retireyoung #personalfinance #moneygoals #debtfreecommunity #debtfreejourney #success #sidehustle

thestealthyrich

Principal paydown for 2023 so far… almost to 1 million total. Going to be grand…
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#investments #financetips #moneytips #financialindependence #savings #save #debtfreeliving #rentalproperties #buyandhold #principal #finances #personalfinance #financialgoals #savemoney #millionairemindset #debtfreedom #buildwealth #rentalproperty #biggerpockets #earlyRetirement #Fire #financialfreedom #millennialsretireyoung #retireyoung #personalfinance #moneygoals #debtfreecommunity #debtfreejourney #success #sidehustle

thestealthyrich

How many of you millionaires out there feel poor?

$1 million is definitely not the same as it used to be.

Our secret to feeling poor, is to throw every extra $$ into oncome.prodicing assets and retirement accounts.

Our personal operating accounts are always running on empty so it feels like we still need to hustle.

The second we get paid, have a distribution event, or get cash of any kind, we transfer it to purchase an asset, or to our retirement accounts where we mentally can't touch it for a long time.

The other secret to always feeling poor is to hang out with friends that are actually rich. You know what they say..... The only thing better than having a boat is having a friend with a boat.

#investments #financetips #moneytips #financialindependence #savings #save #debtfreeliving #rentalproperties #buyandhold #principal #finances #personalfinance #financialgoals #savemoney #millionairemindset #debtfreedom #buildwealth #rentalproperty #biggerpockets #earlyRetirement #Fire #financialfreedom #millennialsretireyoung #retireyoung #personalfinance #moneygoals #debtfreecommunity #debtfreejourney #success #sidehustle

thestealthyrich

Our resident of 6 years is leaving us......

Easy money G.

Here is how The Stealthy Rich screen and qualify tenants.

The second largest expense of owning a rental property is turnovers. The first is selecting a bad tenant.

The Stealthy Rich love rental properties because we retain almost complete control of our investments. We can use our knowledge and expertise to supercharge our investment returns in a way other investment vehicles don't let us.

The one variable of owning a rental property you can not completely control is the actions of the tenant. This is why tenant screening and selection is so so so important. Here is how The Stealthy Rich screen tenants.

Step 1. We require each applicant over 18 years old to submit a complete application (we use the TAR 2003 form), copy of driver's license and social security card, proof of income (check stubs for 2 months), and pictures of any pets. Google the application referenced above. It is a Texas Association of Realtors form and free online.

Step 2. Verify the information on the documents submitted. This means we do the following:.

1. Call 2 previous landlords. Why 2? Because a current landlord will tell you anything to get rid of a bad tenant. We are looking for a long term, stable, no issue tenant.

2. Call and verify employment dates. Honestly is a virtue and any false information in our application shows us what we may he dealing with in the future. We are looking for great income and stable work history here.

3. Look at the at the check stubs provided and make sure they match the disclosed income amount on the application. We require a tenant to have income of a minimum of 3x rent to qualify. Make sure the stubs tell the true story.

Step 3. We use mysmartmove.com for background, identity, eviction and credit verification. We log into the website and add our property info and email a link to the tenant to complete the application process.

This is where they pay the application fee, which is the cost of the background and credit check. We automatically deny anyone applicants with evictions, rental related credit collection issues, or violent felonies. We don't have a minimum credit score requirement.

thestealthyrich

ChatGPT for the win… maybe soon it can cold call for me. Just incredible tech.
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This week I had to give a presentation and I didn’t want to write it. It was an obscure specialized topic. I just typed it into ChatGPT and within seconds it wrote it better than any of my first year associates could’ve.

#mindblown #chatgpt #realestate #brrrr

thestealthyrich

In case you're wondering how it works.....

@milanicreative nails this one.

One step at a time.

One small challenge at a time.

One question at a time.

Baby steps.

When we started buying houses 15 years ago we had no idea how it would affect our lives.

The first one was a 40k beater that rented for $700 a month.

We've been through well over 100 houses and double the apartments since then.

All one step at a time.

Years of patience has created equity in the tens of millions.

All with simple, easy to follow steps that even a broke college student could follow (that was me).

Very little risk and very little capital that grew into something that is hard to even recognize.

Small and simple steps over a long enough period.....

The power of compounding..... It works the same with effort as it does with money.

#investments #financetips #moneytips #financialindependence #savings #save #debtfreeliving #rentalproperties #buyandhold #principal #finances #personalfinance #financialgoals #savemoney #millionairemindset #debtfreedom #buildwealth #rentalproperty #biggerpockets #earlyRetirement #Fire #financialfreedom #millennialsretireyoung #retireyoung #personalfinance #moneygoals #debtfreecommunity #debtfreejourney #success #sidehustle

thestealthyrich

Hilarious. They are coming for our gas stoves now. They are being banned in certain states, and getting talked about at the federal level. This reminds me a little of the paper straw thing. Half our houses we own have gas stoves and our tenants love them. This seems a little misplaced as natural gas is a cheap, reliable source of energy. If they really want it they can…

COME AND BAKE IT!
😂😂😂

#naturalgas #rentalproperty #stove #gasstove

thestealthyrich

This man is my hero, and exactly how we roll as well. We are 10 years in the experiment and doing great. Nobody know we are the owner on over 50 doors. It avoids so many awkward conversations and everybody is happier…

“Hey can I get new granite countertops, Mr Chris?” Me: “let me ask the owner, not sure if he will go for that..”
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It works great… 😝😝😝

thestealthyrich

Just cranking away on principal pay down… going like clockwork. Just another way of forced savings.
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#investments #financetips #moneytips #financialindependence #savings #save #debtfreeliving #rentalproperties #buyandhold #principal #finances #personalfinance #financialgoals #savemoney #millionairemindset #debtfreedom #buildwealth #rentalproperty #biggerpockets #earlyRetirement #Fire #financialfreedom #millennialsretireyoung #retireyoung #personalfinance #moneygoals #debtfreecommunity #debtfreejourney #success #sidehustle

thestealthyrich

How close are we to breaking something?
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We are about to find out!
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#investments #financetips #moneytips #financialindependence #savings #save #stockmarket #fed #buyandhold #finances #personalfinance #financialgoals #savemoney #millionairemindset #debtfreedom #buildwealth #rentalproperty #inflation #earlyRetirement #Fire #financialfreedom #millennialsretireyoung #retireyoung #personalfinance #moneygoals #debtfreecommunity #debtfreejourney #success #sidehustle