Earn more & Save more or Invest differently ??
GenerationalwealthMD Blog
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1y ago
We are often told that the path to Financial Freedom is through earning more and saving more. In all likelihood most of us have been doing this to some degree. What I recently learned is that your asset allocation is the biggest determinant of portfolio  growth and passive income withdrawal in the long run. In other words, the annualized ROI (Return on Investment) of the different asset classes you are invested in has the largest impact on how fast you get to Financial Independence.  I wanted to do a deep dive today and run some examples of how your portfolio woul ..read more
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The Short Term Rental Craze - Why you should consider cashing in!
GenerationalwealthMD Blog
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1y ago
DOWNLOAD YOUR FREE SHORT TERM RENTAL CASH FLOW CALCULATOR   In all likelihood you have a friend or colleague who has purchased a property within the last year that they hope to operate as a Short Term Rental (STR). And if you're thinking - "What's all the hype about??" and you sense some FOMO creeping in, this post is for you. There has been an explosive demand for Short Term Rentals since the pandemic hit - with restrictions placed on air travel, the shift to working from home and need for social distancing, more and more people have been choosing Short Term rentals over hotels for ..read more
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Home Appraisal Tips
GenerationalwealthMD Blog
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1y ago
Like many of you, I am currently in the process of doing a cash out refinance to pull out lazy equity from one of my BRRRR (Buy, Rehab, Refinance, Rent and Repeat) properties. It's a great way to optimize returns and scale your portfolio.  I wanted to do a quick post to highlight what you can focus on in the appraisal process to ensure you have a successful refinance. Know what helps add to the value of your home: Increasing your home's square footiage is a sure shot way of increasing  it's value, but a simpler tactic is to  ensure that the square footage on record is accu ..read more
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5 ways Real Estate investing blows investing in Index funds out of the water
GenerationalwealthMD Blog
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1y ago
For those of you who know me, you know I am a hybrid investor. I invest in cash flowing rental real estate and in stocks/bonds. I like the liquidity and diversification that my stock portfolio provides. But I would say that I am a reluctant hybrid investor because I only really understood how superior real estate returns were much later in the game. Which is why in today’s post I want to focus on all the reasons Real Estate Investing is superior to Index funds, especially if you are a FIRE (Financially Independent Retire Early) enthusiast – and why you should give it serious consideration. &nb ..read more
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What Generational Wealth means to me - and why it should matter to you...
GenerationalwealthMD Blog
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1y ago
"The things you do for yourself are gone when you are gone, but the things you do for others remain as your legacy." Kalu Ndukwe Kalu 2020 was the year I finally turned things around - I went from Financially Stuck and being tethered to my job in medicine to understanding what Financial Independence would really mean for me and my family - and accelerating towards it. Today I am Financially Free - which means I can live life and practice medicine on my terms.  Passive income from my hybrid portfolio (predominantly from cash flowing rentals) will cover all my family's expenses including di ..read more
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How passive can direct ownership of rental real estate really be??
GenerationalwealthMD Blog
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1y ago
Last year I was doing a rehab on a local rental property I had just acquired, while working full time as a Radiologist and raising two kids under 6. I chose not to use a General Contractor for many reasons. While I was sourcing materials for the rehab and managing the crews, I also acquired three out of state rentals. My best friend was genuinely concerned that I was over exerting myself and asked me to slow down on the acquisitions. That's when it struck me that most people would be surprised by how much time it actually took me to acquire one out-of-state property using the systems I had in ..read more
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How to get creative with Financing for investing in Real Estate and how being Leveraged helps...
GenerationalwealthMD Blog
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1y ago
You are psyched about creating generational wealth by investing in rental real estate; but how much money do you really need to get started and what if you don't have tens of thousands of dollars in your savings account?? I'd like to start with the two most common approaches to investing in residential real estate and then discuss other creative financing options. Most people either use a conventional mortgage ( guaranteed by a private lender or the two government-sponsored enterprises—Fannie Mae and Freddie Mac) to purchase their investment property and others who are debt-averse may pay for ..read more
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Resources:
GenerationalwealthMD Blog
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1y ago
Books: Please find Amazon Affiliate links to books that shaped my financial outlook RICH DAD POOR DAD What the Rich Teach their Kids about Money that the Poor and Middle Class do not! by Robert Kiyosaki https://amzn.to/36uKC7L Tax-free wealth – How to build massive wealth by permanently lowering your taxes (Rich Dad advisor) by Tom Wheelwright https://amzn.to/2Mn5LtR Tax strategies for the savvy real estate investor by Amanda Han and Mathew Macfarland https://amzn.to/3aBq1QL ..read more
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How do you decide what YOUR OPTIMAL ASSET ALLOCATION should be?
GenerationalwealthMD Blog
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1y ago
Don’t put all your eggs in one basket! 10 years ago I was fixated on picking the best Dividend Aristocrats (best of the best dividend growth stocks) to add to my portfolio, I failed to realize that the biggest contributor to my portfolio’s overall return would be asset allocation. A 2000 study by economists Roger Ibbotson and Paul Kaplan concluded that more than 90% of a portfolio’s long-term returns were driven by its asset allocation. In other words, the selection of individual securities is secondary to the manner in which assets are spread across stocks, bonds, cash and other invest ..read more
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Are you maximizing your Rental property and Small Business tax deductions?
GenerationalwealthMD Blog
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1y ago
In America, there are two tax systems: one for the informed and one for the uninformed. Both are legal. Judge Billings Learned Hand I have always had a love-hate relationship with tax season… I do our our book keeping and I’m not a big fan of accounting, however I do love my tax refunds. And if you are a real estate investor or run a small business, it’s the time of the year Uncle Sam rewards you for stimulating our economy. I’m talking about tax deductions for eligible business expenses that are ordinary and necessary… A tax deduction (write- off) is an expense that you can deduct from taxab ..read more
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