Archive for April, 2013

April 29, 2013

Multiple Sources… update

Current count: 2 sources

As previously posted my house in San Francisco went on the market on 4/18. We had 3 days of open houses and have set an offer date for today… 4/29/13. The price on the house is set at $699k and we anticipate that it will go for far above that. I will not be able to disclose the different offers we get as we get them but I will let you know the offer we choose. We have heard some pretty exciting stuff about the bidding wars in San Francisco and can’t wait to find out. We are creating an offer for $1M.

Along with this I am working on looking at buying my next piece of property. I have engaged a real estate agent and have a list of about 30 potential properties. I organized them by purely what would be most financially lucrative to us based on the down payment amount. We are currently looking only at multi-units and trying to find somewhere that makes financial sense and somewhere we can “LOVE” to live in. Potentially we could by 2 different properties which would add 2 sources of income in the next six months or so. This alone would completely alter my husband and my financial future. And honestly it seems too easy. I definitely am thinking, “Wait, seriously? This is it?” I know, I KNOW… managing properties isn’t nothing but if it’s my “job” and I have 2 I think I can handle it, you know? Of course now I am thinking should I go get my real estate license? Or property manager license? Do I need certification? Long term if we are going to buy and sell properties it does seem to make financial sense that I either reduce the cost or make some money on buying and selling. So this is still definitely an option.

The other thing I got in my email inbox today is an offer for the 6 month Immersion Program starting in July for the Integrative Nutrition Program I just completed. And I am trying to be realistic about my financial goals and the birth of my baby. It is supposed to be an intense program and I definitely know that for at least a month I won’t be able to work on it at all. But this would give us another source of income.  YAY!

April 23, 2013

MITM’s First Podcast

Capture

MITM’s First Podcast: http://www.blogtalkradio.com/mitm

All right mogulers.  Get ready to be to be wowed by Jess and my first podcast.  Ok – so it may not be that exciting or at least the first 7.5 minutes of me trying to figure out technology aren’t, but what a great experience.  And call me crazy, but I love listening to these recordings of us.  I think that in a couple of months when we look back and our lives are radically different, it is going to be so much fun to listen to and look at our humble beginnings:)

Please enjoy our podcast.  Please follow our podcast.  Please let me know what you think of this awesome image / podcast cover I made today.  BTW – if you think that it is terrible you can let me know that too.  Please join us on our journey.  Let’s have this be an interactive adventure!

Ok that’s it for today.  Nighty night folks.

K

April 20, 2013

Multiple sources of income and my house for sale

I have read many, many books about making money and being an entrepreneur. One that I found most impactful was Rich Dad, Poor Dad by Robert Kiyosaki. It was the first time I realized that the corporate world and our education system really has been set up to have us constantly be in debt and have to keep working to keep making money to keep paying back money so we can get more debt so we have to keep working and on and on.

In line with that my husband and I bought a beautiful house in San Francisco in 2011 for a screaming deal. It is a 4 bed 2.5 bath, way bigger than we needed, but we figured that we could rent it to friends that we would live with to help reduce our monthly expenses. Let’s just say we learned a valuable lesson about personal space and renting to friends. April 18th, 2013 I put the house up for sale in San Francisco (http://www.redfin.com/CA/San-Francisco/30-Patton-St-94110/home/1727433) and I LOVE that house. I love San Francisco, I love walking places, I love everything about it. But I live in San Diego now and the time is right to sell… We can make a bundle of money and then invest it again. What makes this interesting is that now what do I want to do with that money? My husband is all for putting all or most of it into another property. But I personally am thinking about diversifying the money.

I just thought of a great idea… I am going to propose to my husband that we split the proceeds from the sale and he takes his half and invests it how he sees fit and I will take my half and invest it. And in 1 year from now we can check back in and see how it went. I do not have high hopes of him approving of this idea but hey… I will let you know what happens.

The gist is that I do want multiple streams of income. My husband has one stream of income from a corporate job that he loves and really makes a difference doing. I have one stream of income from my current corporate job, which days are numbered and before we put our house up for sale we have a rental income from our house in San Francisco, which makes 3 sources of income. And hey 3 IS better than 2. However, I would like to create 5 sources of income. 1 is my husbands and not passive at all. But the other 4 will be.

That is exciting… 4 passive streams of income… How will I do this?

April 20, 2013

Off to a Rocky Start

This is what it looks like when moguls in the making are learning how to create youtube videos.