[Alice In TX/MO]

When I was teaching in public schools, I purchased small family houses that needed fixing up. Did as much of the work myself as possible. I rent them out, and on the whole, I have had great long term renters.

I don't have to teach anymore.

 

[Alice In TX/MO]

Answer to the question above about buying houses on a teacher salary. We were a two income family. However, we are quite frugal.

I didn't have a mortgage on my home. I bought small homes at depressed prices for cash.

For example: a small home on 1/3 acre for $10,000. Did repairs myself. Rented it out. Saved for next purchase.

Purchased a small three bedroom house that couldn't be sold to anyone else. Not enough land for a new septic system after the laws changed. We owned the contiguous acteage. Only paid $25,000. Did clean up and repairs myself. Rented out for years to nice dependable family. Saved for next house.

 

[Alice In TX/MO]

To the person who asked for full disclosure, here is 40 years of following my plan.

PINCH PENNIES.

Work.

Pay off homestead ASAP.

Don't buy fancy cars every two years.

Buy low, sell a bit higher. Or buy low, pay cash or pay off ASAP, do the work yourself, and rent it out. Use income for next purchase.

Repeat.

Not rocket science, and I'm not posting my tax return or providing other personal info here. If I could figure out those basics, you can, too.

If you can't figure it out, I would recommend Dave Ramsey's book and classes.

By the way, I have 40 acres and a house for sale in southern Missouri. I will make a modest profit. Asking price is $119,500. Prices are low there.

 

[Alice In TX/MO]

I am not going off the grid. I like modern conveniences.

I am, however, building a SIPs house that will require very little heating or cooling. Think of it as a YETI house. Years of saving on electric bills are in my future. More money in my pocket.

Really, you don't need full disclosure of anyone's journey. As mentioned above, Dave Ramsey has it laid out in his book and classes. Don't borrow money for anything other than your primary residence. Don't accumulate any credit card debt. Save money. Have goals and a plan. Build a large nest egg. Spend less money than you make.

We had done all of these before he wrote the book. It a lifestyle choice.

That's it.