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    How Much Cash Flow Do I Need to Retire?

    If you want to retire, you’re going need enough cash flow to cover all the expenses in your life. So in order to determine exactly how much cash flow you need you’ll need to do an extensive and in-depth analysis of your personal finances. It’s your job to comb through your bank statements, credit card statements, cash transactions and all records of your spending to determine exactly how much money you spend in a month (or a year). Your monthly (or yearly) cash flow will need to equal or surpass that amount before you can safely retire. Your Minimum Requirement is Net Zero Cash Flow Cash flow is literally just the amount of cash flowing into your bank account minus the cash flowing out of your bank account. The absolute minimum you need to retire is net zero cash flow…

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    Best Luggage Racks for Your Airbnb Guests

    Most of your Airbnb guests will be living out of their suitcase while they stay with you. If they are forced to keep their suitcase on the ground then that will be a real inconvenience for your guests. This is why we keep luggage racks in all our Airbnbs. Choosing the best luggage rack for your space isn’t rocket science, but there are a few things I like to keep in mind when we buy one for a new listing. Do you need a luggage rack? The truth is that a luggage rack is not one of the most important decisions you will make as a host. Your beds, amenities and interior design are all far more important. Luggage racks are just one of those nice to have items that can make your guests more comfortable, or make your place…

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    The Reigning Best Thermostat For Airbnb Hosts

    The best thermostat for your Airbnb has the same characteristics of other great appliances. It’s easy to use and hard to break. But lots of thermostats have these two characteristics. We’ve started using the Nest thermostat because not only is it easy to use and hard to break, but it helps us save on our utility bills, and we can watch and even control it from the comfort of our own home. The peace of mind of knowing what’s going on in our listings when a guest is there is worth the higher price tag of the Nest. If you don’t need that peace of mind, then I’ll argue that you should go for a low cost thermostat with an easy to use interface. Does You Thermostat Even Matter? Yes, and no. Your thermostat must work and it must be…

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    How To Persevere in Blogging: Article 100

    I wouldn’t call my life a big raging success, but I’ve set out to do lots things and I’ve achieved some of them. This is the 100th article published on Unbound Investor, so I’m going to spend the rest of this essay pretending like I know something about blogging and perseverance. I’m not sure what I’m trying to say in this article, I just wanted to reflect on what it took to get to 100. Here are some of my random thoughts and lessons: New bloggers spend a long time writing to nobody 10 articles is more than it sounds like Keyword research is super important It’s much easier to write what you already know than it is to write about something you need to learn Making your first dollar online is super exciting, but your second dollar is not…

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    How to Increase Listing Views on Airbnb

    The two keys to increasing your listing views on Airbnb are performing better in search, and improving your click through rate. Performing better in search is a somewhat complicated thing, but I have gone in depth about it in the past. Search results take many factors into account, including reviews, response rates, cancellations, engagement and filters. Improving your click through rate is all about how your listing looks when it appears in a search result. That means your title, reviews, rating, price and Superhost status. It’s not always easy to see exactly how to increase your views, so today we’ll look at the most important items to critique. What is a View? Just so we’re on the same page, let me define a view. A view is when someone views your listing page. This can happen either when someone clicks…

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    Book Review: Buy Then Build

    Buy Then Build is a great resource for investors looking to buy a business. The author, Walker Deibel, is a self proclaimed “acquisition entrepreneur,” which is what he calls the intersection of entrepreneurship and investing. Overall, I strongly recommend the book for anyone interested in buying a business for the first time. Real Estate Was Too Slow I became interested in buying a business after setting some pretty over the top financial goals. Kate and I were making $70,000 a year from our Airbnb investments, allowing Kate to quit her job. But we wanted to create $350,000 of yearly income over the next two years, and real estate investing wasn’t going to get us there. As I continued researching the most lucrative investments, the one that clearly seemed to be the best for both short and long term was business…

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    Taking a $40,000 Salary To Extreme Wealth

    It’s Christmas time 2020 while I’m writing this, and to treat myself I decided to write an abbreviated version of a fun idea I had when I first started this blog. There are millions of humans in our world that make a yearly salary of approximately $40,000 USD. Some of them will go on to become extremely wealthy, while others will eventually declare bankruptcy. I thought it would be interesting to explore what takes a person making $40,000 per year into extreme debt, no wealth, some wealth, or extreme wealth. How much can our actions, our personal finance knowledge/execution and our investing knowledge/execution really affect our eventual net worth? Let’s find out. How To Turn $40,000 Per Year Into Extreme Debt First, it’s important to understand how a person ends up in crippling debt. Financially speaking, being in a spot…

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    The Best Safe For Your Airbnb Guests (And You!)

    I don’t think every Airbnb needs a safe, but I can say from experience that your guests visiting from outside the country will benefit from one. They will likely be traveling with important documents, like passports, and are also more likely to be traveling with cash. The best safe for your guests can be programmed with a custom code (by them) and, of course, must be secure. Our Airbnb Safe Experience We don’t provide safes for our guests, but I have been to a few Airbnbs that did have a safe. Kate and I live and operate our Airbnbs in the U.S. I don’t recall ever staying in a U.S. based Airbnb with a safe, but we have had safes in our rentals outside the states. Related: How to maximize profits in your Airbnb. The most memorable for me was…

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    My Growth Mindset Story (So Far)

    Today, I just wanted to write down some thoughts. I’m not sure how coherent this article is, but there’s no doubt that your mindset plays a paramount role in your ability to achieve financial success. Here are some random excerpts from my mind. Before Investing We bought our first investment property late in 2017. That whole year, Kate and I had been reading books, listening to podcasts and generally taking steps towards our first investment. But I graduated from University in 2012 and I had been working full time for about 5 years before that first purchase. Honestly, it’s really hard for me to remember what life was like before that switch got flipped. We had a dog, we both went to work and came home, and in the evenings we tried to spend time with friends and family or…