PhREI Network Roundup | 10-29-2021

In today’s roundup, we’ve got a comparison of two short term rental automation tools, reasons why you shouldn’t buy property in a bad neighborhood, and a guide to intentional spending.

PhREI Network Roundup | 10-29-2021.

Carpe Diem MD

In this post, Ian Cook compares two popular tools for managing your short term rentals: Your Porter and OwnerRez. With these tools, you can automate much of the day-to-day running of your short term rental. Your Porter has a nice iOS based app which allows you to run your business from your phone. OwnerRez is computer based, and allows for a bit more customization. Which one is better?

Decide for yourself by reading the post on Carpe Diem MD: Your Porter Vs OwnerRez (Airbnb/VRBO)

The Darwinian Doctor

This week, I shared some more details about a crazy series of events involving the tenant in one of my duplexes in Indianapolis. How crazy? Well, it involved pitbulls, a car fire, and my tenant fleeing the state.

I expanded on the story and shared a few reasons why I now caution against buying property in rougher neighborhoods. Specifically, here were the reasons I discussed:

  • Bad neighbors
  • Higher crime rate
  • Lower price appreciation
  • Higher maintenance costs

Read all the details in the original post: 3+ Reasons Why You Shouldn’t Buy Property in a Bad Neighborhood

The Prudent Plastic Surgeon

In another great post about money, Jordan Frey shares a simple formula to practice intentional spending. Specifically, this will help you make sure your purchases actually are purposeful, rather than mindless.

Here’s the formula: Make sure the purchase fits into your financial plan, and the joy from the purchase is > or = to the purchase price.

It’s a little like Marie Kondo meets Dave Ramsey.

Read the post on the Prudent Plastic Surgeon: The Simple Formula to Practice Intentional Spending

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