Ask Paula - When Should I NOT Use the One Percent Rule for a Rental Property?

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Investing, Business

4.7 • 3.6K Ratings

🗓️ 4 January 2019

⏱️ 58 minutes

🔗️ Recording | iTunes | RSS

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Summary

#170: When should you NOT use the one percent rule for rental property investing? In today’s episode, I encourage two callers to violate the One Percent Rule for real estate that they already own. WHAAATTTT? Why would I say that? Especially given that I’ve gained a bit of a reputation as The World’s Most Staunch Advocate of the One Percent Rule? (Long title, I know, but someone’s gotta wear it.) And if you’re not going to use the One Percent Rule, how should you make decisions about your real estate investments instead? Find out in this podcast episode. Enjoy! For more information, visit the show notes at https://affordanything.com/episode170 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	You can afford anything but not everything.
0:10.9	Every decision that you make is a trade-off against something else and that doesn't just
0:14.3	apply to your money.
0:15.5	It applies to your time, your energy, your focus, anything in your life that's a scarce
0:20.8	or limited resource.
0:22.4	You need to know how to allocate that in the way that fits with you with what you want.
0:27.8	And so how do you do that?
0:28.8	How do you align your daily decisions in accordance with your priorities?
0:33.3	Answering this question requires a lifetime of practice.
0:35.8	There's no simple answer.
0:37.3	And this podcast is here to explore how to do that well.
0:40.6	My name is Paula Pant.
0:42.4	Happy New Year's.
0:43.4	This is the Afford Anything Podcast and we are normally a weekly show.
0:47.0	We air every week on Monday but on the first Friday of the month we air a first Friday
0:51.8	bonus episode.
0:52.8	So welcome to 2019.
0:55.6	This is our January 2019 first Friday bonus episode.
1:00.6	If you are joining us for the first time because you've set a New Year's resolution to get
1:04.4	better with your money and now you're downloading finance podcasts to figure out how you can
1:09.0	do that.
1:10.0	Welcome.
	...

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