While we’ve been here, I’ve been thinking about vacation pay. You see in my adult life, I have never worked anywhere that offered paid time off. That’s mainly because I’ve been working for myself since college.
But as I was sitting by the waves thinking about what to write, it dawned on me I do have paid time off. It comes from our rental income. You hear investors talk about how great mailbox money is. They’re referring to the rent checks they get mailed each month. But how good is a rent check sitting in your mailbox in Georgia if you are by the beach in Florida?
Because of this issue, we decided to move away from paper checks and start drafting rents from our tenants via ACH. This means that no matter where we are, with a few clicks of a button our rents will be moved directly into our account.
Instead of mailbox money, since it’s all digital, I’ve been calling it inbox money. And having it will give you paid time off no matter where you are.
Joe and Ashley English buy houses and mobile homes in Northwest Georgia. For more information or to ask a question, go to www.cashflowwithjoe.com or call Joe at 678-986-6813.