Real Estate Investing Basics: Foundational real estate concepts, including "house hacking" and moving forward after a first investment.The Difficulty of Change: Fear of the unknown, fear of failure and resistance to change prevent people from investing.Real Estate News and Commentary:An eviction in Koreatown, Los Angeles, that resulted in a firebombing attempt.The trend of school districts, such as the Monterey Peninsula Unified School District, providing employer-subsidized housing.What it means to "decommodify real estate."Financial Advice Critique: Bad Advice: Dave Ramsey's financial principles, particularly his view on debt and the idea of a 50-year mortgage.
7 Steps to Financial Freedom: A financial plan that focuses on:
Mastering self-education (pay cash for depreciating assets, borrow for appreciating assets).Mastering credit (checking your FICO score and building credit for cheap capital).Building an "opportunity fund."House hacking.Understanding the velocity of money (using the BRRRR system: Buy, Rehab, Rent, Refinance, Repeat).Moving from high-tax wages to low-tax business income.Achieving financial sovereignty (passive income exceeds expenses).Key Principles of Real Estate Success: See a lot of houses, make a lot of (non-binding) offers
Five Key Characteristics of Investing in Residential Real Estate: Income, Depreciation/Tax Benefits (with mention of IRS Section 121), Equity Buildup, Leverage, and Appreciation. Section 121 is highlighted as a way to exclude up to $250,000 of capital gain per owner-occupant from taxation from the sale of a principal residence.