Rob’s Blog and Flog

Far be it for me to come up with a new years’ post on new years day. Thought I’d wait a while, since this is a blog-without-readers. Without any readers, there’s nobody to complain if I don’t do the obligatory. I’m semi-sure someday somebody will find this blog and find it entertaining, but in the meantime, well, “Hi Rob, you sure do look great in that mirror”.

In 2008, I will have 4 financial focuses. The Day job, the Online efforts, the Real Estate, and the Muse

1: The Day Job. As of January 1st, I’ve changed jobs. For the last 4 years I’ve worked for the same company - the longest stretch I’ve ever managed in my life. Thanks to all of those people who put up with me both in the Bermuda and Canada offices, with varying degrees of tolerance.

The new day job is a project I’ve been involved with since it’s inception - Virtual IT. Some old friends wanted to open a consulting company in the Toronto market, and convinced me to join in as the guy in charge. Fancy that. Thanks guys for your trust and faith in me -it’s a refreshing change from my last post. I’ll be writing more about Virtual IT, and our product, Virtual IT Office - VITO, in future blog posts, but for now, take a peak at our Flat Fee IT service, and give us a call if you think we can help

2. Online efforts. I’ve been puttering around for years with this online make money thing. It’s currently barely paying its expenses (hosting and domain registrations) - but nowhere near the time value I’ve put in to it. It’s safe to say I’ve lost small amounts of money every year in half hearted attempts to build a second income. In 2008, this is going to change. Something better than a run-of-the-mill proxy site or MFA site will get built, released, and monetized.

I’ve learned my limitations, which I suppose is good. I’m an ideas guy. I’m a big picture guy. I’m not a repetetive tasks guy. I’m not a mundane day-to-day grind guy. So, I’ve hooked up with a details guy, a project management, ITIL certified, details geek. The first project is in the works. Who knows if it will see the light of LCD, given past results, but if it does, it should be great.

3. Real Estate Back in April of last year, I bought some income property - a duplex in Leslieville, near the Beaches (The Beach?) in Toronto. Well, at least I tried to buy it. As luck would have it, I bought it from a slumlord who changed his mind about selling. After he signed the deal.

Naturally, I’m suing for specific performance. I want this house - it’s a dump, but a fixable dump. Two new kitchens, two new bathrooms, a new roof, get rid of the 80’s dusty rose carpet, and I’m mostly done. Perfect “Flip this house” material, except my goal is to live in one half, and have a tenant pay most of the expenses.

Meanwhile, my deposit is stuck in trust. Can’t get it back, or I lose by default. This is a significant portion of my liquid funds, so it will be difficult to go looking for anything else in the meantime. Damn you Mr. Kissana! Karma’s a bitch…. give me my house!

The courts are moving at a glacial pace, but as my girlfriend says - every month the value of the house goes up, and I don’t have to pay for it. Free equity? Maybe. I just want my house.

4: The Muse. By now, most people have read or at least heard of the Tim Ferriss bestseller The Four Hour Workweek. It resonated with me - it fits in well with my “Freedom 40″ plan - 10k a month passive income. I have a few ideas, one of which sounds great to everyone I bounce it off. I’ll be kicking the tires a little bit more on this idea, and if it’s truly as great as as I think it is, I’ll be moving forward with it.

There you go - 4 things to focus on, moneywise, in 2008. If I bat a 500, I should be doing well. If I bat 1000, I’m well on my way to Freedom 40.