Self Help 2
How To Be Rich
I had a couple of ideas to write about today, but I’m going to try, for the moment, to stay on the topic of the self-help book I had been working on.
For people that didn’t read the first letter my self help book is based on advice from someone that doesn’t know better than you. Like relationship advice from someone who has never had a successful relationship.
I know someone who purchased inexpensive single family homes in Alabama. He paid all cash because the homes weren’t eligible for bank loans. He bought three homes for less than $100,000. The properties had a good cash flow, enough that he was able to make 15% annually on his investment without managing the property himself. It could be considered passive income, depending on how generous you were being with the term. The properties appraised well and he was able to take a loan against them for the full amount he invested. The properties paid 15% and the loan charged 5% and he had all of his money back. When he told me I thought, “Oh, that’s what rich people do.”
It's only slightly more complicated than it sounds.
My father once said that writing books is really hard, but any idiot can make a million dollars in real estate. He did not however answer the question of whether any author could make a million dollars in real estate.
I’ve never met anyone that made a living in real estate and consistently churned out thoughtful, sensitive poetry. But I believe it’s possible.
People with good passive income streams seem to spend a lot of their creative energy thinking about it.
Allen Ginsburg said he didn’t want to work, he just wanted to stare at the clouds.
Victor Hugo, when asked if was difficult writing The Hunchback of Notre Dame responded, “My dear, it is either easy or it is impossible.” Or that’s what I heard.
I also believe Carl Jung said a stranger can see in an instant something it would take you six months to learn about yourself. But I’ve never been able to find the actual quote.
When talking to authors about their financial situations I’ve been struck that most authors, particularly poets (dividing all authors into journalists and poets) are not good at basic math.
I’m great at math, but I’m a terrible judge of character.
I wrote an article about the protesters that was scheduled to publish but the magazine and I couldn’t agree on edits. It wasn’t unfriendly, it was just a regular disagreement between regular people. And it was quickly too late as we’ve been flooded with more video and information on the riots since. I might rewrite it and send to paid subscribers.
I might also send some content soon from other substacks I like, though not political content. Poems. I think I’ll start sending out original poetry if I can get my poet friends to contribute.
Hoping to setup some interviews soon as well that will be interesting for paid subscribers. Stay tuned for that.
I’d like to include some sexworker content but I think I’m going to keep that to my OnlyFans page. If you’re a paid subscriber just send me an email if you’d like a free subscription to my OnlyFans.
The above offer is not available to family members.