Accidental Landlord

martinis and your money

Accidental Landlord

Today I am talking to Philip Taylor who runs the blog site and also started the financial blogger conference, FinCon. PT started the conference four years ago with 250 bloggers, in 2014 he enjoyed 600 registered attendees and he expects 700 to register in 2015. When I reached out to PT to join my show, I thought he might want to talk about his unexpected success of starting a conference from scratch; however, he really wanted to discuss his newfound love of real estate investing.

What We’re Drinking

Philip Taylor – Blue Moon Beer

Shannon – Deep Eddy’s Cranberry Flavored vodka with a splash of soda

Podcast Notes

  • PT realized that when a career in football was not in his cards he would need to pursue a career in public accounting
  • He started his corporate career with 10 years in internal accounting where he saved money and paid off his student loans
  • PT explains how he became an accidental landlord through owning another property
  • Shannon asks PT if he was concerned with having too much debt in owning two properties, both with mortgages on them
  • To check out PT’s real estate ups ands downs, check out his site
  • Resources PT likes for real estate owners: Transunion, Chase Quickpay
  • PT shares best practices for picking the right tenants and protecting yourself as the landlord at the same time
  • PT shares different ways to invest in real estate other than just direct investing
  • Make sure you make the 1% rule achievable before you pull the trigger on an investment
  • PT explains why a starter home is a great first property to maintain

Random 3 Questions PT Answered:

  1. If you could see a band live, which band would you want to see?
  2. If you could have another job than what you are doing, what would it be?
  3. If you had $1MM dollars, what would you do with it?

Do you follow PT? If you were not doing what you are doing, what else would you do?

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Shannon is a financial planner who left a “traditional” financial services firm to start her own company, The Financial Gym, because she felt traditional financial services firms did not have the tools or resources to help people in their 20s and 30s who are starting out and trying to build assets while also managing debt. She realized that the key to long-term personal financial success is a commitment to financial fitness and making smart financial choices. Through her blog, Financially Blonde, her book, Train Your Way To Financial Fitness, her podcast, Martinis and Your Money and The Financial Gym, Shannon is committed to making financial fitness fun, easy and accessible for everyone.

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