Weekly Roundup - January 12, 2014

The first full week of 2014 has now flown by and it sure was a busy one for me.  We finished drilling another well and I was able to head home early Thursday morning.  I finally got home around 4 am and promptly crashed in bed with my wife for an hour before she had to get up for work.  As usual I haven't really gotten a chance to relax the first few days as it was busy with taking care of things since I'd been gone.  I've paid property taxes, renewed my license, done paperwork for work, worked out, and my favorite was looking at rental properties on Friday.  Blog activity has been a little slow this past week but I'll get a chance to reply to comments and get some more posts up soon.  My wife and I went to the nearby drive in theater last night.  It's truly a great find and I love when we get to go enjoy 2 movies for the price of 1 as well as spend some time outdoors.



I was able to find 2 properties that are on the short list and one that is at the top of that list.  My wife and I are going to go check it out tomorrow and if she's okay with it we'll be putting an offer in.  The house looks to be in great condition and really just needs some fresh paint to make it rent ready which is great.  While it's going to take a good bit of money for the down-payment, the yield on it should be great and provide $200+ in positive monthly cash flow which is awesome.  And the best part about it is that someone else will be building the equity for us in the property and paying the mortgage payment month after month.  There's still a lot of things to take care of and investigate more, but things are looking really good on that front.

Thanks again to everyone that read, commented, or shared a post through the social networks.  I can't thank you all enough and you all help to keep the personal finance conversation in the forefront.

Now on to the links!

2013 Full Year Review by All About Interest

My Watch/Wish List by The Fast Weekly

How to buy when there is blood on the streets by Dividend Growth Investor

My goals for 2014 by Dividend Mantra

Earnings season:  Everyone have their brackets and draft picks in? by Pulling Ourselves Up Financially

What if the future is better than we think? by A Wealth of Common Sense

Developing a game plan using sector weighting by Retire Before Dad

Mindless accumulation by Done by Forty

Monthly Review:  December 2013 by Dividend Growth Machine

Quick initial review of companies by Dividend Growth Stock Investing

My son is ready for early retirement by Mr. Money Mustache

I hope all have a great rest of the weekend!

Comments

  1. Pursuit,

    Thanks for the mention!

    Good luck on finding the right rental property and closing! Very exciting time for you guys. :)

    Best wishes.

    ReplyDelete
    Replies
    1. DM,

      I think rentals are a great additional source of passive income. Plus you get to use leverage by using other people's money. Essentially you get to put say $20k down (25%) but get the cash flow off of the full 100% value of the property. That's a huge advantage and can juice the returns a lot.

      Thanks for stopping by!

      Delete
  2. PIP,

    Thank you very much for including me in your roundpup.

    Best Regards,

    Dividend Growth Investor

    ReplyDelete
  3. PIP,
    Thanks for including my piece this week. Nice list of reads here. As for the rental, good luck with putting in an offer. That can be hectic. Don't be afraid to lose it, there will always be another.
    -RBD

    ReplyDelete
    Replies
    1. RBD,

      That's something I need to remember. We're still discussing what's the best route to go. I've wanted to move much faster on this than my wife, but I have to remember that there's always other opportunities. Luckily she's slowing me down on this. I want to make sure that the outlook is great because that's a large amount of extra debt to take on, even though the mortgage will get paid by the tenants.

      Thanks for stopping by!

      Delete
  4. My wife and I love the drive in. It is one of the great American traditions that is, unfortunately, slowly disappearing.

    Thanks for including my post!

    ReplyDelete
    Replies
    1. Done by Forty,

      I wish I had found the drive-in earlier, but I'm glad I at least found it. It really is a great time and we always enjoy ourselves there. Although some summer nights make it a little unbearable, being in Texas.

      Thanks for stopping by!

      Delete
  5. Hi JC. So exciting you found a potential rental. It's amazing when a tenant is building equity in YOUR asset for you. I hope it works out, but like RBD said......don't worry if the deal doesn't work. Their is always another potential deal. Of course, thank you mentioning my post this week.....I really appreciate it!
    -Bryan

    ReplyDelete
    Replies
    1. Bryan,

      I've found a few but my wife is doing her best to slow me down a bit on it because I'd go out and buy 2 rentals as soon as I had the cash for the 2nd downpayment. This is a big step though so for our first one I want to make sure it's a slam dunk. Even if we have to sacrifice a little bit of cash flow on it.

      Thanks for stopping by!

      Delete
  6. Hi PIP,

    a lot of stuff to read...
    I think I have to use more my mobilphone to read all the things...
    To read everything at home, I don´t have enough time!

    regards
    D-S

    ReplyDelete
    Replies
    1. D-S,

      I hear ya! Whenever I'm home there's always something else begging for my attention that I just don't get to keep up with blogs and writing on my own as I'd like. Of course those days at home are always filled with other things.

      Thanks for stopping by!

      Delete
  7. PIP,

    Thanks for the mention. Good luck on the search for a property. I think rental income is a great compliment to our dividends. I hope to add another one this year myself maybe later in the year.

    ReplyDelete
    Replies
    1. AAI,

      I have to agree with you on that one. At first I thought it was pretty risky, but like most things when it comes to investing, if you do your homework you can mitigate a lot of the risk. There's still a few things we're trying to work out but hopefully we can add a property to the passive income mix.

      Thanks for stopping by!

      Delete

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