Nothing wrong with flipping in my opinion but there is also nothing wrong with starting off by owning rentals. I started that way, but my first property was a 4 plex that I lived in for free while the tenants in the other three units paid all the bills and I still made $500 a month profit. When I sold 5 years later I made $200,000 (off a $6000 initial down payment) in profit off the equity and used that money through a 1031 exchange to buy a property. Making millions with rentals is far less risky and less work intensive. I did it while working a full time job.
Yeah it works and there's nothing wrong with that but Ryan's point is that this method is a long and slow way to wealth. Today he's got 550 rental properties and he started in 2015, that was 8 years ago.
Great video! This is a really comprehensive guide to building wealth, with lots of practical tips and advice. I particularly liked the emphasis on starting early, investing wisely, and developing good financial habits. Thanks for sharing!
Interesting on phase 2. I’m at that stage and I was thinking how I’m not making as much profit. Glad you shed some light on that area. Really will help me continue as an owner!
Passive income is myth, if you are just starting out. And like Ryan said, $200+ per month is going to make you rich. And tiring up that down payment is lame! Instead invest in yourself and business to make money first.
Nothing wrong with flipping in my opinion but there is also nothing wrong with starting off by owning rentals. I started that way, but my first property was a 4 plex that I lived in for free while the tenants in the other three units paid all the bills and I still made $500 a month profit.
When I sold 5 years later I made $200,000 (off a $6000 initial down payment) in profit off the equity and used that money through a 1031 exchange to buy a property.
Making millions with rentals is far less risky and less work intensive. I did it while working a full time job.
Yeah it works and there's nothing wrong with that but Ryan's point is that this method is a long and slow way to wealth. Today he's got 550 rental properties and he started in 2015, that was 8 years ago.
@@ronnickyjroy3 Yeah. He started a Capital fund and manages other people's money
@@ronnickyjroy3 Yes
Great video! This is a really comprehensive guide to building wealth, with lots of practical tips and advice. I particularly liked the emphasis on starting early, investing wisely, and developing good financial habits. Thanks for sharing!
Awesome, thank you!
Ryan, You are truly one of the most, if not the MOST inspirational person I've come across! I love this way of thinking: Make manage multiply!
Thanks so much for this information!!
Interesting on phase 2. I’m at that stage and I was thinking how I’m not making as much profit. Glad you shed some light on that area. Really will help me continue as an owner!
Glad it was helpful!
When do you decide you’re ready to start hiring? Financially wise.
Need some Tykes in the background!
Thanks Ryan, great material brother 👊
I appreciate it!
Hey Ryan! That was me playing on the bigger pockets b roll ya had 😂 would love to come on to talk to ya about Mid Term Rentals
Awesome! Email me at ryanpinedashow@gmail.com
Thank you for this!
Glad it was helpful!
💯 literally been thinking this!!
Cool!
FunTastic!!!
fire!
Thanks!
This is great.
Thanks, I’m glad you think so!
Build your cash cow before your cash flow
Passive income is myth, if you are just starting out. And like Ryan said, $200+ per month is going to make you rich. And tiring up that down payment is lame! Instead invest in yourself and business to make money first.
Absolutely!
250k net....right no problem, easy.
Ay man it’s simple not easy
dude said flip 10 homes in year 🤡
@@7betJesus 10 per year isn’t crazy, you start flipping 2 per year then scale up, don’t try to eat the cow in one bite, cut it into 8-10 Oz fillets
@@freeestyleobsessed how many homes did you flip last year?
Interesting
Thanks!
First