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« Five Principles to Increasing Your Net Worth | Main | Principle 2: Minimize Expenses »

April 15, 2005


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Funny the joke about Ross Perot.

I have had one or more persons paying rent at my own house since I bought my first property. First a friend that I know since college and now my wife. From time to time other friends.

By using low rents, and bigger house that could be afforded independently, we have all enjoy the spare cash made available that doesn't have to go to a landlord or a bank.

I also have someone renting my basement. The rent money goes directly towards other investments. I have been renting space in my house for nearly 4 years now. Originally, this strategy helped me get out of debt. Then the strategy helped me build a pretty high net worth. Ironically, I shared my experience and recommended to the others the same strategy. Everyone use to laugh at me. In fact, I recommended this strategy to a realtor more then 3 years ago and he called me crazy. I was crazy until he bought his first house and paid the entire mortgage by renting the rooms in his house.

Wow Jose! How did you convince your wife to pay rent?

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