How to Finish the Wealth Building Game (And Avoid Falling Backwards)
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- Опубліковано 31 тра 2024
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🎙️ Episode 322 - Brace yourself for the thrilling leap into the financial ender phase - where the magic happens! This is where you'll prioritize financial freedom, slash risk, and craft a successful life that you've always dreamed of.
📄Show Notes:
www.coachcarson.com/enderphase/
🎬 Timestamps:
0:00 - Intro
1:12 - Winning the financial game
6:15 - Pruning your portfolio
8:29 - Trading/Exchanging property
9:48 - Sell the property/Pay taxes
10:37 - Rethinking your debt
12:51 - Operations of your rentals
15:38 - Chad's personal journey
24:07 - Real estate is a journey
26:25 - Outro
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Please give us systems!!! We are very much in need of this. Any system having to do with property management.
thanks for the feedback! I love the topic of systems and operating your rental business. So, I'll plan to bring more videos and interviews on that.
This is exactly where I'm at. Thank you. This is the part of investing most don't talk about.
Glad it was helpful. yes, no enough content for this stage of investor. I'm trying to help with that!
Thank you for speaking so often at UCREIA meetings, where we are members. You asked what else you can speak about. We’d enjoy knowing more about how to use technology to the best advantage! Apps, software, devices, tools, etc. for finding & evaluating deals, finding & evaluating tenants, property management, maintenance; financial management, … thanks! -Country Homes
Chad, Great content! Thanks so much for sharing your RE journey. I love the fact that you combined your RE investment with traveling and enjoying family life at the same time. You proved you do not need to give up one in order to achieve the other. Very informative.
Hi Coach Carson, since my childhood always wanted to own properties. Finally purchased my first home with a mortgage in 2007 then property values dropped and lost half of the value on my property. Which was devastating but hold on to the property and still today own the property as a rental. 2009 purchased my first rental with cash in phx metropolitan. Then till 2016 purchased 7 more most of which is free and clear now. I have total of 9 properties 8 of them are rental properties. Feel like I am stock now due to high interest and property values does not make any sense for a rental. I am 43 now and would love to have 20 properties before 50 but the way the market and the financial system is limiting and dont like to feeling. Now we moved to Pasific North west, property values are insane here and it just does not make any sense to buy here either. I really feel stock do not know what direction to go. I appreciate you and your contributions for all of us to learn.
One should verify that one is, in fact, liable to taxes before consenting to pay them. Title 26 subsection 7701(a)(1) defines "person" as anything but human. So if youre using a statutory entity like an LLC then yes, thats a "person" and is most likely liable. But, if youre human and dont fit that definition, then you should ask the IRS how you are liable. Asking for confirmation while communicating youre willing to pay avoids dispute and therefore threats of retaliation. Conditional acceptance is very powerful, and serves to hold our gov representatives honest.
Thanks Coach
I don’t know if you made this video just for me but I absolutely love this video and it really resonates so thank you for posting
I'm so glad to hear that! thank you for watching and for leaving a comment. More videos like this in the works!
Very helpful Thank you for sharing. I like your new book I'm reading it for the second time
Thanks Chad. This is a great video! I can relate to the up and down process to get to the top of the mountain. I learnt also to feel my body, understand when I can push hard and when it begs for rest. That helps to be more efficient when you're active and gives your body and mind the time to recover enjoying mini retirements
Great video still listening
Thanks Chad, good video. I would say my wife and I are entering that 'harvester' phase. As a buy & hold investor, it would be great to have more tools to evaluate if/when to sell. I consider all/most of our properties in good areas, with reasonable maint., yet how to keep re-evaluating this over time would be useful.
Thanks for sharing! That's a good idea for another video. ✍taking notes! I have some thoughts on how to evaluate it, but I'll work on organizing it so it's more useful.
And congrats on your own success and progress!
Thanks coach, I’m a newer investor, I have two long term rentals, the problem I’m having is just simply running out of money after 20% down and closing costs, and rehab costs…I’m currently waiting until October 2024 to refinance due to the seasoning period…any advice is much appreciated! Thanks and love the videos
I need a video on getting my second rental with very limited funds.
Can you do a lesson on 31 exchange ?
Great video, as always. Thanks. Just started this year, and your videos help a lot. Keep doing them.
thanks for watching and thanks for the feedback! It helps. Good luck.
I’m interested in the vetting process for PM’s.
Great topic suggestion. Thank you!
You have a great channel !
Thanks for the visit
I do not have many properties so I would like to figure out how to grow. What markets were you invested in to grow your portfolio and how did you find the MF units?
I invested in the south eastern US in South Carolina. There are a lot of good places to invest. But i like small cities in the suburbs of big cities