It was super hard to leave my job. I was so programmed to be a cog in the wheel It took me 3 or 4 years to finally work up the courage to quit. It was a great union job, great benefits. I was scared about losing everything including my wife and kids. Then i realized, even if i lost everything, i would never lose my wife and kids, what mattered most. After i realized that, i quit the next week.
So many people say to dive into real estate late in life for "passive" income. Like you highlight, there's a HUGE learning curve that's taken for granted. There's no get rich quick schemes! If so, everyone would be doing it! It is somewhat self-leveling. It takes time and effort. At 60 yrs old, I don't think I have the energy to be on that learning curve!!! I did the conventional thing and worked EXTREMELY hard (and inefficient). But now, continuing on that avenue until retirement is likely my best bet.
This is such a good comment, thank you for sharing. When you say "im 60, and it may take me 5 years to acquire enough properties to change my life" let me just remind you, that you'll be 65 in 5 years regardless. Its only too late to start something if youre gone already. ;) good luck.
RN here… My husband & I own rental properties. I wish we would have started watching your videos years ago. Being a nurse I’m always making checklists and documenting stuff. I plan to read The Checklist Manifesto.
I'm balance sheet rich but cash poor. I've been buying apartment buildings with my own money, doing substantial value add, and then saving to buy another. It's a real grind. I really have had no interest in trying to raise money, but it seems like that is becoming the only option unless I want to keep W2 grinding for twenty years.
If you are doing a substantial value add, refinance your invested capital out of the deal and move right into the next one. No reason to wait for saving up to get the next one
You can learn something no matter what. He took this $10 to $10,000 and sure he learned something. I learn something in my job from the greenest of people because everyone approaches things differently and figured out something that you never thought of and we all think differently and solve problems differently.
Awesome video and awesome guest! Got a TON out of this. And CONGRATS to you both!!! 🥳 So happy for you 🥰 I just found out you got married in this video! God bless you both. ❤️
I don’t think you can tell someone financial situation by lookin at there bank account, I keep all my money in stocks and real estate and only have the minimum to not overdraft in my bank
Stocks, bonds, real estate are all happy stories on the way up. There are lots of sad stories on the way down, 50% drop. Since 1971 it has been an unending bubble, never looking back. Benefits are stocks, bonds, real estate, as the bubble inflates. Will it all go on forever? Study history. It does not grow forever. Leverage is very dangerous when there is a down turn, margin calls, defaults, foreclosures. Firefighters work one week a month and always have a side hustle but don't want to pay taxes as a tax paid employee. Great job.
Such great content! I love seeing different perspectives from real estate investors. For myself, I find that flipping to raise capital and using that money to finance rentals is what has been working best.
I believe that I've found my niche buying places that are too rough for the average person, but too expensive for investors with cash who can afford to pay over asking price. Being a GC is helpful for this strategy because I feel like I can buy deals that would make no sense for anyone who works with a GC on rehabs. Plus I love the work. And the numbers work well for my wife and I.
I wish some of the big guys would interview people with smaller portfolios. They only show these guys that own 1000 doors or flip 100 houses a year. I make a good living with 6 houses and now I live on an island and manage those houses. This guy has a good message about grinding and making it happen, but he is wrong that most rentals only make $200 a month. I'd never buy a rental with a return like that. They market this show like it's for newbies but then Ken always starts talking about buying 200 unit buildings. This show is for advanced investors.
Funny you just described me. 6 single family homes at 34 years old. All paid off except primary residence. Trying to determine if I should refinance them and get more or enjoy my time spearfishing, hunting, working out, studying the bible and gardening. These guys will never be satisfied. If you do not have Jesus in your life you will be filling that void with wanting more and more.
I feel like I'm doing the Ken's sister investment plan. But who knows what the future will bring. I'm just really looking forward to taking a break from remodeling houses (which I quite enjoy most of the time) and probably doing another deal in the next year or two, or maybe even in a few months.
Checklist Manifesto is a great book to make you to start thinking in lists. It is the process of making something that can be complicated easier and most importantly create replicable results as E-Myth mentions. As always, great content. Thanks everyone and Rich Dad number Two (Ken)
Great video! I appreciate Tarl mentioning that he tried to get his family to invest in real estate, because I've tried to do the same for my brothers and sisters, but they felt it was too risky or they didn't have the capital to do it. Also, I wish Tarl talked more about why and how he transitioned from just house flipping to investing in rentals. It sounds like it's because of the shift to being more hands-off and being able to travel more. Maybe for the next interview. 😃
Ken. When your sister gets tired of dealing with tenants have her reach out to me. Well put together a good owner finance deal where she gets comfortable monthly payments and she can pass on the note to her kin. Win win for everyone. 👍😁
I'm sorry, I don't know the woman's name but I love seeing her on your channel. Real estate seems like such a boys club and I love hearing a beautiful woman add to the conversation. Thanks
I like BP but man they loathe wholesaling lol they act like wholesaling didn’t put most of them on and they cater to those who already have money. Good show but man that’s annoying about them. I’ve been around BP literally since they started because they started in my city.
This is Tarl. I love wholesaling. I make plenty of content for BP, and I dont know a single time ive ever said wholesaling was bad. Wholesaling is awesome, but its a tool in this business and transaction based only. It only gets you so far, but its something we do all the time as a part of our business.
That is not true. Different problems back in 2011. No one knew where the market was headed then still, people were cautious, and money/financing was VERY hard to get.
Read The Millinaire Next Door. If you are a hot, young, good looking babe you can always marry a rich guy. Inherit it, marry it, or earn it. Earning is hardest. Excellent video. Ken, you are so excellent. Great job. Thanks for all your good deeds.
Being afraid of what others would think if you failed is huge! Thanks for all your great videos.
Long term strategy is always the best. Real estate is slow but it can yield the biggest profit.
It was super hard to leave my job. I was so programmed to be a cog in the wheel It took me 3 or 4 years to finally work up the courage to quit. It was a great union job, great benefits. I was scared about losing everything including my wife and kids. Then i realized, even if i lost everything, i would never lose my wife and kids, what mattered most. After i realized that, i quit the next week.
When did you quit and what came of it?
Love Tarls content. He’s real and absolutely relatable.
So many people say to dive into real estate late in life for "passive" income. Like you highlight, there's a HUGE learning curve that's taken for granted. There's no get rich quick schemes! If so, everyone would be doing it! It is somewhat self-leveling. It takes time and effort. At 60 yrs old, I don't think I have the energy to be on that learning curve!!! I did the conventional thing and worked EXTREMELY hard (and inefficient). But now, continuing on that avenue until retirement is likely my best bet.
This is such a good comment, thank you for sharing. When you say "im 60, and it may take me 5 years to acquire enough properties to change my life" let me just remind you, that you'll be 65 in 5 years regardless. Its only too late to start something if youre gone already. ;) good luck.
RN here… My husband & I own rental properties. I wish we would have started watching your videos years ago. Being a nurse I’m always making checklists and documenting stuff. I plan to read The Checklist Manifesto.
What a real conversation. Really like this and it was very inspirational! Thanks guys.
This is one of the best and authentic discussions I’ve listened to. Thank you.
I relate to him so much, and it gives me some relief seeing that he has met success after all.
I'm balance sheet rich but cash poor. I've been buying apartment buildings with my own money, doing substantial value add, and then saving to buy another. It's a real grind. I really have had no interest in trying to raise money, but it seems like that is becoming the only option unless I want to keep W2 grinding for twenty years.
If you are doing a substantial value add, refinance your invested capital out of the deal and move right into the next one. No reason to wait for saving up to get the next one
Hind site is always 20/20 but great job Tara. Confidence/ Risk is a big thing for many - especially when you have a family.
You can learn something no matter what. He took this $10 to $10,000 and sure he learned something. I learn something in my job from the greenest of people because everyone approaches things differently and figured out something that you never thought of and we all think differently and solve problems differently.
I love Ken's analogy of hiting singles as he describes the success of his investments!
Рррррр
Pounding the pavement and making it happen. This is awesome.
Awesome video and awesome guest! Got a TON out of this.
And CONGRATS to you both!!! 🥳
So happy for you 🥰
I just found out you got married in this video!
God bless you both. ❤️
Awesome wealth of knowledge, Thank you Ken! Also love the poster in the background, Im a fan of Jocko. Discipline equals freedom.
I don’t think you can tell someone financial situation by lookin at there bank account, I keep all my money in stocks and real estate and only have the minimum to not overdraft in my bank
Love Tarl! Good interview - thank you for all you do!
I love the content Ken I would love to hear more of the stories from rags to riches makes very good content and insight on what can be done
Thank you guys for this amazing content!
Stocks, bonds, real estate are all happy stories on the way up. There are lots of sad stories on the way down, 50% drop. Since 1971 it has been an unending bubble, never looking back. Benefits are stocks, bonds, real estate, as the bubble inflates. Will it all go on forever? Study history. It does not grow forever. Leverage is very dangerous when there is a down turn, margin calls, defaults, foreclosures. Firefighters work one week a month and always have a side hustle but don't want to pay taxes as a tax paid employee. Great job.
Such great content! I love seeing different perspectives from real estate investors. For myself, I find that flipping to raise capital and using that money to finance rentals is what has been working best.
I believe that I've found my niche buying places that are too rough for the average person, but too expensive for investors with cash who can afford to pay over asking price. Being a GC is helpful for this strategy because I feel like I can buy deals that would make no sense for anyone who works with a GC on rehabs. Plus I love the work. And the numbers work well for my wife and I.
My point is, I agree that it's interesting to see the different perspectives and I appreciate you sharing yours!
I wish some of the big guys would interview people with smaller portfolios. They only show these guys that own 1000 doors or flip 100 houses a year. I make a good living with 6 houses and now I live on an island and manage those houses. This guy has a good message about grinding and making it happen, but he is wrong that most rentals only make $200 a month. I'd never buy a rental with a return like that. They market this show like it's for newbies but then Ken always starts talking about buying 200 unit buildings. This show is for advanced investors.
Funny you just described me. 6 single family homes at 34 years old. All paid off except primary residence. Trying to determine if I should refinance them and get more or enjoy my time spearfishing, hunting, working out, studying the bible and gardening. These guys will never be satisfied. If you do not have Jesus in your life you will be filling that void with wanting more and more.
I feel like I'm doing the Ken's sister investment plan. But who knows what the future will bring. I'm just really looking forward to taking a break from remodeling houses (which I quite enjoy most of the time) and probably doing another deal in the next year or two, or maybe even in a few months.
Danielle did a good job on this one
It always makes me think of that commercial from around 2008 - “How do I do it all? I’m in debt up to my eyeballs. Somebody please help me!”
great interview!
Awesome Show.
Checklist Manifesto is a great book to make you to start thinking in lists. It is the process of making something that can be complicated easier and most importantly create replicable results as E-Myth mentions. As always, great content. Thanks everyone and Rich Dad number Two (Ken)
Most people don't understand the meaning of BUILD WEALTH and they don't have patience.
Great Interview!!!
Tarl is a badass
I like this guy.
Very helpful Thank you
Great video! I appreciate Tarl mentioning that he tried to get his family to invest in real estate, because I've tried to do the same for my brothers and sisters, but they felt it was too risky or they didn't have the capital to do it. Also, I wish Tarl talked more about why and how he transitioned from just house flipping to investing in rentals. It sounds like it's because of the shift to being more hands-off and being able to travel more. Maybe for the next interview. 😃
Ken. When your sister gets tired of dealing with tenants have her reach out to me. Well put together a good owner finance deal where she gets comfortable monthly payments and she can pass on the note to her kin. Win win for everyone. 👍😁
Howdy Yarber
I’ve been inspired
I'm sorry, I don't know the woman's name but I love seeing her on your channel. Real estate seems like such a boys club and I love hearing a beautiful woman add to the conversation. Thanks
Sexist
The richest man in the world is not the one who has the most, it’s the one that needs the least. Maybe not the right channel for the quote, lol.
Ken is like a good looking version of Saul Goodman
slipping jimmy
FLIPS DONT WORK! . . . . ?
HOW SO?
Awesome
I like BP but man they loathe wholesaling lol they act like wholesaling didn’t put most of them on and they cater to those who already have money. Good show but man that’s annoying about them. I’ve been around BP literally since they started because they started in my city.
This is Tarl. I love wholesaling. I make plenty of content for BP, and I dont know a single time ive ever said wholesaling was bad. Wholesaling is awesome, but its a tool in this business and transaction based only. It only gets you so far, but its something we do all the time as a part of our business.
I wish it was 2011 again. It would starting in Real Estate so much easier than this ridiculous market.
That is not true. Different problems back in 2011. No one knew where the market was headed then still, people were cautious, and money/financing was VERY hard to get.
Upper lower income is NOT poor. If you don’t qualify for financial aid, your family was rich
14:44
Read The Millinaire Next Door. If you are a hot, young, good looking babe you can always marry a rich guy. Inherit it, marry it, or earn it. Earning is hardest. Excellent video. Ken, you are so excellent. Great job. Thanks for all your good deeds.
prices are so high now in day for most middle class people it’d take years to be able to get a house
H
Bitcoin is the future investing in it now is the wisest thing to do now especially the current rise