Why the U.S. was Downgraded…
“Why the U.S. was downgraded…
- U.S. Tax revenue: $2,170,000,000,000
- Fed budget: $3,820,000,000,000
- New debt: $ 1,650,000,000,000
- National debt: $14,271,000,000,000
- Recent budget cuts: $ 38,500,000,000
Let’s now remove eight zeros and pretend it’s a household budget…
- Annual family income: $21,700
- Money the family spent: $38,200
- New debt on the credit card: $16,500
- Outstanding balance on the credit card: $142,710
- Total budget cuts: $385 ” – Anonymous
Those glib, self-serving dip-wads in the Congress and Federal Government are killing us. Thanks to Josh Mettle’s Blog for this enlightenment!
Donald Trump on Entrepreneurs (Brutal!)
Donald TrumpMost people would be entrepreneurs if winning were guaranteed. .... And that is the reason why most people don't become entrepreneurs. They simply fear failing more than they desire winning.
MIDAS TOUCH – Why Some Entrepreneurs Get Rich and Why Most Don’t
Investors: Heads-up! It’s Time to Buy
Just in case you’re not paying close attention… It’s time to buy!
Here’s some evidence:
Steve Sjuggerud’s Daily Wealth: Those Fools… The Housing Bust is OVER
“In America, the bursting of the housing bubble isn’t halfway over. It’s COMPLETELY over.”
Steve Sjuggerud’s Daily Wealth: You Don’t Believe My Housing Argument? Here’s Proof…
“Right now is the moment to make your deal. The time for extraordinary deals like this will pass… quicker than you think.”
Wall Street Journal: It’s Time to Buy That House
“[W]hen mortgage rates are taken into consideration, houses are the most affordable they have been in decades.”
MarketWatch.com: Now Might Be the Best Time Ever to Buy a Home
“[R]ents remain sky-high in the U.S. right now, and in many markets it’s actually cheaper to buy a home than rent a two-bedroom apartment.”
AG Beat: The state of long term real estate investing – the perfect storm is here
“If you have the wherewithal to invest now, do it. Do it wisely, but do it now.”
JP Morgan Market Insights: Housing: A Time To Buy
“[T]he numbers tell us it is a time to buy.”
Best Articles: The Housing Bust is Over
“You may be surprised to hear it, but thanks to lower mortgage rates and lower home prices, homes are affordable… They’re just as affordable now as they were right before they boomed in the 2000s.”
I’ll be out inspecting property and making offers on January 2nd. Hope to run into you! 🙂
Steve Jobs: Principles of Business
Steve Jobs
- Do what you love.
- Put a dent in the universe.
- Kick start your brain.
- Sell dreams not products.
- Say no to 1,000 things.
- Create insanely great experiences.
- Master the message.
“For Landlords, This Could Be The Perfect Storm”
My son and investment partner, Josh Mettle, publishes an exceptional Mortgage Blog as well as a print newsletter. In the Spring issue of his print newsletter, he said something very important for landlords that I want to share here:
“…I should mention that rental properties are about as good a hedge against inflation as you can possibly get. I’m personally getting pretty nervous about the money printing and inflationary actions of the Federal Reserve. One of the first things that goes up in an inflationary environment is rent and, as a landlord, you have the benefit of making your fixed mortgage payment as you steadily keep raising rents to keep up with inflation.
We also have a very unique and pro-landlord situation brewing today as many people’s credit has been damaged and many others have just been convinced by the media that it might just be better to rent. I personally think that is a bad decision, but for landlords this could be the perfect storm. More…
Ordinary Income vs. Capital Gains
It often pays to “venture” outside of your area of expertise and inspect the thoughts of other professionals. Fred Wilson is an investor, venture capitalist and professional blogger living in NYC. On May 2, 2011, he posted a blog about the difference between ordinary income vs. capital gains which is really worth reading for income property investors:
“Today, I’d like to talk about ordinary income vs capital gains. This is not tax advice. I am not a tax lawyer or a tax accountant. I hope both tax lawyers and tax accountants show up in the comments as this is important and complicated stuff.
When you think about the various ways you can make money, two ways predominate. You can provide services to others and get paid for those services. That is ordinary income. And you can invest in something; shares of stock, a building, a domain, and then sell it later for more. That is a capital gain.
The distinction is important, at least in the US, because these two kinds of income are taxed differently. Ordinary income is taxed at the full federal, state, and local tax rates. We live in NYC and according to our accountants, we pay a marginal fully loaded tax rate of 47.62%. That means we keep about half of the ordinary income [my wife] and I generate. More…
Money Quote on Entrepreneurs
Fred Wilson [investor, venture capitalist, blogger]"Entrepreneurs don’t need degrees like lawyers and doctors do. They are credentialed by virtue of their track record."
Entrepreneurs are Different (and so are Great Landlords)
We all instinctively sense that entrepreneurs are different. But what is it that makes an entrepreneur tick? What makes an entrepreneur successful? What is the entrepreneurial mind-set? Let’s explore the elements of the entrepreneurial DNA.
You may have a day job, but if you are an income property owner you are also an entrepreneur. But be careful, if you use your employee brain to deal with your entrepreneurial endeavors, you could fall short as a landlord. Here’s why: More…