What I Am Buying Today.

[ken-do-nim]

(10-01-2021, 07:37 AM)fenders53 Wrote: This is one of the most important topics discussed on this forum.  Diversity in your income stream is VERY good.  Real Estate has been solid for centuries.  Being a landlord is not for everyone.  Maybe it doesn't fit one's personality?  I was glad I did it but my career required I keep it small.  You can hire out property management as well if you do it on a larger scale.  I am convinced a side hustle of some sort is important if you don't have a huge and secure wage.  Even then things can change.  Mike and I lived through the 70s-80s.  Major employers just went away on fairly short notice.  More than one way to get along in the world is smart.  Just find something you find interesting.  I repaired cars on the side when I was in my 20s.  Wages seem silly now, but I invested half of it so not so silly with decades of compounding.

Just depending on a DGI port for the bulk of my income would not give me comfort.  I've seen the rug pulled too many times.

I live in a 1 family that started out as a 2 family.  One thing I've been wrestling with is when I move out (min 4 years), should I convert it back to a 2 family first before I start renting it?  I'll have to figure out how much rent I'd collect with it as it is vs. doing the conversion job ($150k?).

I'd love to spend my retirement publishing gaming supplements that people can print on demand and get passive income from that as well.