Money Archives

The BRRRR Method of Investing Explained

The Millionaire Next Door and Wealth Building

What is the BRRRR method? How can you use it to make more money renting out properties? In the book, Buy, Rehab, Rent, Refinance, Repeat, real estate agent David M. Greene explains how investors can gain more income if they use his BRRRR method. This strategy differs from a traditional method of investing by flipping distressed houses and refinancing them to buy another property. Keep reading to see if the BRRRR method is the right investment strategy for you.

Why All-Cash Offers on Houses Are Attractive to Sellers

What is the best way to pay for a house? Why is it smarter for you to make an all-cash offer on your house? In the book Buy, Rehab, Rent, Refinance, Repeat, real estate agent David M. Greene says that sellers are more inclined to accept all-cash offers on houses. Compared to your competition, you don’t have to worry about pulling out because of loans, appraisals, or possible inspections. Continue reading to learn why making an all-cash offers on a house is the smarter way to buy and invest.

The 6 Different Types of Home Loans

Are you having trouble narrowing down a home loan that’s right for you? What are the six different types of home loans? Whether you plan on renting out a house or living in a home, you’ll need to decide which type of home loan (or mortgage) best suits you. It all depends on your financial situation, but real estate agent David M. Greene lists six different types of home loans in his book Buy, Rehab, Rent, Refinance, Repeat. Let’s look at the six different types of mortgages to find out which one you need.

Buying a House Below Market Value Is Smart Investing

What are the benefits of buying a house below market value? How does it affect your real estate investment plan? If you’re using David M. Greene’s BRRRR method from his book Buy, Rehab, Rent, Refinance, Repeat, then you need to start by buying a house below market value. The BRRRR method emphasizes buying cheap properties because you can easily recover your investment later when selling the home. Let’s look at how buying a house below market value can make you more money, and how to find a good deal out of it.

The Psychology of Money: Quotes by Morgan Housel

Looking for quotes from The Psychology of Money? What is the secret to financial success? Most of us assume financial success depends on education and intelligence. But according to Morgan Housel, the author of The Psychology of Money, the key to financial success lies in understanding human behavior. Here’s a selection of passages highlighting some of the key ideas.

Investment Failures: Don’t Let Them Hold You Back

Have you ever made an investment that didn’t turn out the way you expected? What should you do if your investment fails? It’s easy to become discouraged when things don’t go as planned, especially when your money is on the line. However, that doesn’t mean you shouldn’t take risks. Investment failures do occur, fairly frequently, but if you keep trying, you could get lucky enough with one investment that it outweighs any failures. Here is why you shouldn’t let failure hold you back from trying again.

The Psychology of Money: Book Overview

What are the top financial lessons from Morgan Housel’s The Psychology of Money? How can this book help you change the way you view money and wealth? In his book The Psychology of Money, finance expert Morgan Housel argues against the conventional wisdom about financial success. He says that the key to financial success lies not in hard work and intelligence, but in understanding human behavior. Housel posits that when you understand how emotions and beliefs influence your financial decisions, you’ll make better financial decisions. Here’s a brief overview of the key themes.

The Power of Compound Interest: Grow Your Money

Did you know that you can use your money to make more money? How does putting even a small amount into an account that accrues compound interest help you grow your money? In his book The Psychology of Money, Morgan Housel discusses the power of compound interest. The key to maximizing your returns, Housel explains, is to invest as soon as possible and let your money grow over time. Here’s why compound interest is the best way to maximize your income and build wealth.

Success Is Luck, Not Hard Work or Know-How

Is financial success a matter of luck or know-how? What plays a bigger role? There are so many memoirs and self-help books out there by millionaires that teach readers how to follow in their footsteps—”they got rich by following these steps, and you can too!” However, what these books fail to account for is the role of chance in financial success. Here’s why success is luck, according to behavioral finance expert Morgan Housel.

You Can’t Make Financial Predictions Based on the Past

Do you look to history when trying to make financial decisions? Why is trying to make financial predictions based on past events a terrible idea? In his book The Psychology of Money, Morgan Housel says that many people will study past events in order to make financial predictions. However, Housel explains, this strategy doesn’t work because history is a series of unpredictable events, and studying it will not help you predict the future of finances. Here’s why you can’t use the past to make financial predictions.