For more than twenty years, I’ve said many times that there’s nothing better than mailbox money. After all, instead of having to go out and labor for eight to ten hours a day just to earn a highly-taxed paycheck, who wouldn’t rather have checks magically appear in their mailbox each and every month?
Rent checks are one example of mailbox money. For instance, if you own ten single-family rental homes, and each one rents for $900 per month, this equals $9,000 being slid into your post office box each month. Sweet!
Another example is selling a home and offering your buyers owner financing. The buyers get the house and in return, they give you a secured note that obligates them to send you a monthly mortgage payment.
I never thought anything surpassed a mailbox full of money. Turns out I was wrong! I just made an incredible discovery. The thing that tops mailbox money is kept-man money!
What, exactly, is kept-man money? It’s when your wife goes out and hustles up a big, fat paycheck while the man – ME – sits around doing close to nothing!
Guys, let me explain how this came about. And if you play your cards right, you may be able to get a bundle of kept-man money of your own!
My very good friends, Gawain and Courtney Thomas gave birth to Hunter Thomas on October 16, 2015. Because Hunter was born premature, there were some complications. He was moved to Egleston Hospital’s ICU in Atlanta, where he’s been ever since. (Note: Hunter is going great and will be going home very soon!)
Because Gawain is like a brother to me, I’ve been staying with Hunter at the hospital every other night to give his parents a bit of a break. The thing is, the lack of sleep has made me slaphappy, as well as caused me to fall way behind on my daily to-do list.
Kim was fine with this…at first. But the further I’ve fallen behind, the higher her frustration level has grown. And fellas, we know that most wives, when they are at their wits’ end with their husbands, go shopping. OUCH!
This is exactly what Kim did. She went shopping – and spent $84,201. But lucky for me, Kim is a real estate investor first and a woman second! Did she waste money on a shiny red thing that honks and drops like a rock in value the second it’s driven off the dealer’s lot? Not a chance!
Instead, Kim bought a beautiful five-bedroom, three-bath home in Adairsville, Georgia, that comes complete with about $45,000 in raw equity. As my pappy always said, “Son, that dog will hunt all day long!”
Here’s the thing, I didn’t even know she was thinking about buying a house. This is how the call went: “Bill, I just bought a flip house in Adairsville for $84,201.” Stunned, I asked, “Where’d you get the money?” Kim answered, “I got a loan from one of our private money lenders.” I very cleverly retorted, “Oh.”
Kim’s goal for this house is to quickly polish and sell it. She’ll probably use this deal’s profit to pay off one of our rental homes, which will increase our monthly cash flow. Gosh, I love my wife. Even more, I L-O-V-E being a kept man!
So where is Kim right this very minute as I’m sitting at the hospital writing this week’s real estate investing column? She’s out looking at December’s foreclosures trying to slay her next deal!
And for all you wishing-you-were-me vultures out there, Kim and I are very much in love so you can’t have her. In fact, we’re quickly approaching our twentieth anniversary…as the Redhead and I journey forth toward forever!
Bill and Kim’s North Georgia Real Estate Investors Association meets on the 2nd Thursday of each month, from 7 to 9 p.m., at the beautiful Hilton Garden Inn off Main Street in Cartersville, Georgia. For more info, go to CashFlowREI.com.