As the PhREI network, we decided to start a weekly roundup to share new activity from across the network. Enjoy!
Ian Cook of CarpeDiem MD discusses how to finance your short-term rental property. He suggests 10% down, and goes over conforming versus non-conforming loans. He details Freddie Mac and Fannie Mae second home eligibility requirements as well. There’s a lot of good information in this post that will help you learn more about financing in general, and especially when it comes to second home-buying.
Daniel Shin of Darwinian Doctor basically shows you how to get rich (with time). There are six steps: map out your income and expenses, grow the gap, save an emergency fund, pay off high interest debt, invest regularly and wait. Now you know the steps, BUT… you still have to learn how to use them to get rich. Check it out!
It took me a LONG time to learn about what a 401k is and now that I do, I know how important it is. Simply put, it’s a tool to help you save and invest for your retirement. You want to retire? Who doesn’t! My goal here is share with you 5 simple, wealth-building reasons why you need to invest in your 401k.