Conversation

I was in the bank today chatting with a personal banker. The banker really envied me. Why?

1 - I have a few business accounts. I guess this makes it look like I'm running numerous businesses which seems to imply that I'm making a ton of money. Why else would someone need so many accounts? Answer: Record keeping. Running all of my flips, mortgages and rental through different accounts makes record keeping much easier.

2 - I am self employed. I get to set my own schedule and take as much time as I want to off! Not so fast.... I work evenings and weekends. I have to provide my own health insurance and I have no benefits. If you're looking for an 8-5 Monday - Friday with great benefits and 2 weeks of vacation, forget self employment. If your looking for 60 hours a week, working 6 days a week and no certainty of a paycheck..... look into self employment. (For the record, I love being self employed and never plan on working an 8 - 5 in a corporate environment.)

3 - Real estate investor = rich, right? I hope so. I'm far from rich right now. Hopefully, after a few sound investments, I'll see some big numbers in all of those bank accounts.