Net Worth: How You Doin’?

I saw a link that took me to this Motley Fool article that I found interesting.  I have been tracking my net worth for years.  Not that it is my end all be all.  But you can look at it from time to time and see clearly what is working…and what is not.

The author gives a pretty basic and easy to follow formula for figuring out what your net worth is and the graphic above is explained nicely as is how not to put too much emphasis on it.  It’s just another tool to see how you are doing.

Read the article and then take a few minutes to figure out where you stand.  It’s easier to know where you are going when you know where you are.

LLCs and your Rental Property

I’ve long been apathetic about LLC protection for your investment property.  Not that I thought it was bad.  Rather I just carry huge umbrella policies…you know, just in case.  But maybe I’ve changed my mind?  In any case and regardless of what side of the LLC argument you sit on for your rental properties, here is a link I suggest you go and read.

Liability Protection for Real Estate Investors

Now I’m off to gather more tax information.  🙂

Great Column

Some people are so much more eloquent when they rant than I am.  From today’s Washington Post…

 

The real foreclosure mess:  Lack of accountability for banks

Worth Reading & Worth Knowing

Regarding Fannie/Freddie going back to 10 and requiring two years worth of returns on existing properties I’m told by a very, very reliable source that there is a work-around to this problem.  Apparently Fannie rules stipulate that if you haven’t owned two years you can show leases that have been in effect “more than a couple months.”

Any mortgage people want to dig further in to this?  Back it up?  Argue it’s wrong?

*** *** ***

On the flip side of going back to 10 it appears that there is still another hurdle for today’s real estate investor to hurdle.

Government Cuts Out Private Sector In Foreclosure Market

New Web Page For Kansas City Cash Real Estate Investors

As most of you know by now I have started a sister web page.  Now that web page has a special page devoted to the Cash Investor.  I’d love to have you check it out.  Let me know your thoughts!

Kansas Foreclosure Homes Tour

I will be holding a Kansas Foreclosure Homes Tour on Sunday, August 15, 2010.  For all the details go to the Foreclosure Homes Kansas website.

Kansas City Named a Great City for Young Adults

A few days back I read on Yahoo! that Kansas City had been named one of the 10 Great Cities for Young Adults.  I read it, smiled and then moved on.  Others were impressed, as well.  No fewer than a handful of you have emailed me the link to make sure I saw it.  Civic pride, I guess.

I love my home town.  And I’ve been to most of these cities.  I think Austin is the greatest college town in America. The people down there are great and the emphasis on outdoors activities always makes me happy.  Plus, I like a cold beer over on 6th Street or in the Warehouse District.   And it’s always good fun to watch my Jayhawks whip up on their basketball team in their own city.  🙂  The BBQ leaves something to be improved upon.

My dad live in Charlotte.  So we get down there quite a bit.  A clean and growing city. Reminds me of Kansas City in so many ways. Don’t get me started on BBQ that has cole slaw on.  I’m sure that’s something Jesus wouldn’t do.

Chicago.  Enough said.  Love that town.  Maybe even more than New York.   Love the blues.  Love lakefront.

I haven’t spent much time in Houston.  Though I don’t really dig the site of refineries and hate mosquitoes that are as large as most mammals.

I’ve never been to Lansing.  But any place where Tom Izzo is the head coach is alright with me. He’s one of the best college basketball coaches of all time in my book.

New York?  God, how I hate the Yankees and everything they stand for.  But God also knows I just love the entire experience of each and every visit there.  The sensory overload feeling.  I thrive on it.

Never been to Portland.  My friend goes there a lot for business.  Says it’s really pretty but a ton of traffic and the entire city is overrun with hippies.  And yes, that is just the employee base that works for him.  Not just the homeless people that are everywhere…at least according to him.

Salt Lake City is just not on my list of places to hang.  Sorry.  Just never really considered it.

Washington, DC is my home away from home.  Regular readers here know I lived there 15 years.  Well, in the Maryland suburbs, actually.  The town has so much going on all the time.  The power.  The money.  The activities.  The history.  The importance.  The self-importance.  Some real idiots there, to be sure.  Some really great people, too.

I love my birth home of Kansas City.  Glad I live here.  And glad I’ve got to experience these other cities, well most of them anyway, too.

CC licensed image of Kansas City skyline as Night Descends courtesy of calebdzahnd via flickr.

APJF3XUY8PAV