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rethinktheratrace

πŸ‘‰πŸΌ Follow @rethinktheratrace for more tips o πŸ‘‰πŸΌ Follow @rethinktheratrace for more tips on financial freedom with real estate! πŸ‘ˆπŸΌ

Sometimes our life looks extravagant like this picture of us on our Eurotrip in France πŸ‡«πŸ‡·

Other times we’re doing a live-in renovation and don’t have a kitchen for a month πŸ˜…

What’s crazy is that the unglamorous parts are what funds the amazing lifestyle that we have πŸ› 

Putting in the work and consistently making progress is much more reliable and replicable than some get-rich-quick scheme that only works for a few people for a few months πŸ“…

You can plan for tomorrow, but you need to start today ⏳
πŸ‘‰πŸΌ Follow @rethinktheratrace for more tips o πŸ‘‰πŸΌ Follow @rethinktheratrace for more tips on financial freedom with real estate! πŸ‘ˆπŸΌ

We launched our newest Airbnb β€˜Funky Flora’ at the beginning of May πŸŽ‰

During that month we had 5 bookings and 1 cancellation 🚫

That equaled 15 nights booked & 16 nights vacant, which we were happy with since we just launched it πŸ“†

Here’s the breakdown:
Income - $1,433.16 πŸ“ˆ

Total Expenses - $526.01 πŸ“‰
-Cleaning: $240 🧹
-HOA: $113 🏒
-Internet: $75 πŸ’»
-Insurance: $42 πŸ‘¨πŸΌβ€βš–οΈ
-Utilities: $41.13 πŸ’‘
-Misc: $14.88 🍊

Net: $907.15 πŸ€‘

You may notice that we’re missing a mortgage. That’s because we bought this place with cash. We don’t know the exact tax amount yet, but we are setting aside for that 🏦

We’ll continue to update you on this place monthly so you can see our real numbers as they happen! πŸ™‹πŸΌβ€β™€οΈπŸ™‹πŸ»β€β™‚οΈ
πŸ‘‰πŸΌ Follow @rethinktheratrace for more tips o πŸ‘‰πŸΌ Follow @rethinktheratrace for more tips on financial freedom with real estate! πŸ‘ˆπŸΌ

@jonjfarb coming in with the heat πŸ”₯

Who else is guilty of doing this? πŸ™‹πŸΌβ€β™€οΈ

The same concept can be applied to so many different things πŸ“

From evaluating potential rental properties and never making a move, to constantly running your numbers on a spreadsheet and never feeling confident enough to retire πŸ“Š

From listening to every unsolved murder podcast and never being confident enough to get away with it πŸ’€

Don’t get caught in the trap of analysis paralysis. Fortune favors the bold & the bold are making moves, not just learning about it πŸ’ͺ🏼
πŸ‘‰πŸΌ Follow @rethinktheratrace for more tips o πŸ‘‰πŸΌ Follow @rethinktheratrace for more tips on financial freedom with real estate! πŸ‘ˆπŸΌ

Managing short term & long term real estate remotely IS possible 🀳

Last year, we spent a month traveling around the Greek islands with our friends πŸ‡¬πŸ‡·

During that time, we hosted 11 guests at our 3 short term rentals and had our 8 long term rentals occupied, and we managed them completely remotely 🏠

We’ve created the systems so we can travel the world while minimizing our time & effort managing our properties ✈️

By self-managing our properties, we get to keep over $22,000/year in our pockets that would be paid toward property managers πŸ€”
πŸ‘‰πŸΌ Follow @rethinktheratrace for more tips o πŸ‘‰πŸΌ Follow @rethinktheratrace for more tips on financial freedom with real estate! πŸ‘ˆπŸΌ

House hacking is such a wealth builder and is a key reason we were able to reach financial freedom so quickly πŸ”‘

So many people buy as much house as they can afford and drain a ton of income into a house πŸ“‰

Sure, they appreciate, but you don’t see that money until you sell and historically homes appreciate at 4% per year πŸ“Š

That’s less than historic stock market returns and less than real estate investment returns 🏠

Instead of spending all your disposable income, you could be saving huge amounts πŸ’°

If Ginny only invests what she’s saving compared to Gary, and not a penny more, she’ll be a millionaire in less than 14 years πŸ€‘
πŸ‘‰πŸΌ Follow @rethinktheratrace for more tips o πŸ‘‰πŸΌ Follow @rethinktheratrace for more tips on financial freedom with real estate! πŸ‘ˆπŸΌ

Our friend @codydberman said it best πŸ—£

One of our favorite things about traveling is that it can humble you and make you appreciate what you have 😊

On the other hand, traveling can also motivate you to reach different goals and make changes in your life πŸ₯‡

We’ve been to at least 20 countries each, and with each new country, our love for traveling and appreciation for what we have grows even more πŸ›«
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