Gracias por compartir la manera en que piensas. Espero alguna ves puedas visitar Puerto Rico y que hablemos en español. Yo hacabo de comprar un duplex, lo arregle y ya pude rentar el primer piso y con eso pago el morgage. Estoy aprendiendo y me da alegria el poder aprender de ti. Gracias, señor Cardson!
@@luisrivera5314 gracias Luis! Me encantaría visitar Puerto Rico y hablar de inmobiliaria contigo alguna vez. ¡Y felicidades por su compra de dúplex! ¡Genial!
I resonate with this so much! My parents were able to retire early with only seven properties they bought those seven properties in the 80s and 90s. They are now paid off and they generate $14,000 a month so without real estate they would not be able to retire, and not only did they retire. They were able to retire early that’s why I love real estate.
Hi I’ve been a real estate investor for 5 years now, actually it was Bigger pockets that inspired me to buy my first rental. I’m now at 16 single family rentals with my average cal rate of 13%. What I’m most proud of is I bought these all on seller finance utilizing the morby method by Pace Morby. I know he was a prior guest of yours. I’m now shooting for 150 units in the next few months and hopefully will purchase a larger multifamily in the next two years. Thanks for what you guys do, BP was my introduction to Real estate investing.
This was my favorite show! & He is my goal on my realestate journey. I have 2 doors currently and have already been able to travel full time for the past 2 years on the income. Cost of living for me in places like Colombia and Thailand is around $1500 per month living a great life. Great episode!
Pete Fortunato is definitely somebody to listen to super smart. I’m 54 gonna be paying off four of my rental properties that I bought 20 years ago the other three I should pay off in the next two years I’ve got 6 1/2% interest mortgages. Kids are out of my big house, so I’m selling that to facilitate. Buying a boat and going to cruise around the Bahamas and the Caribbean, before I get to old to enjoy the fruits of my labor. My son is mini me and will help me achieve this. Great video guys, sometimes your time needs to be monetize and when your older it’s worth way more!!!!!
Chad really speaks to me. I’m 62 years old, self manage 20 debt free units. Started in 2001. I love the lifestyle and love serving my Residents. Chads advice is advice to follow!!! Thank you Chad
It's a lot easier to manage and live off of (5) fully paid off properties, than 10 leveraged properties with double the tenants (and double the roofs, toilets, appliances, sewers, etc)
So so so many golden nuggets! Peeps, it is possible to work 2 hours a week because i work 4 hours a year per property. All about systems and processes. Keep up the good work!
That was a really good podcast! Really learned a lot about how to think about being in growth, or income phase, de risking when you feel it’s time, etc. I’ve thought about this topic a lot and loved hearing your brain storming about the whole idea
Loved this episode. It really helped more with my approach to real estate investing. Iam going to put more of a down payment and work on putting extra towards my mortgages.
Haha, I was the guy at the last BP meet up at a brewery with a beer in my hand only 3 doors under my belt. You nailed the person and the feelings. And I lol’d heavy at “thirst trap for dudes.” Also very accurate
Very rare BP does these interviews these days as I feel like they are mainly pushing towards syndications and large multi mainly. Love following Chad and his channel!
I’m with you coach! This is what I’m sharing on my new UA-cam channel! 😊I’ve got five properties which I affectionally refer to as my Cutie Pies! I’m too in the “ender” phase stacking cash to pay them off! It’s the only way to find peace of mind! ❤🎉. Congratulations on all your accomplishments! I’m hoping I receive your book soon! I’m on your launch team! 🎉😊
Love this episode and the "small and mighty" messaging. My wife and I have been so hyperfocused on acquisitions that we never paused to determine how much RE income is enough?
To me the difference of opinion is more about the fact that you all have a fundamentally different view of what a successful real estate investment career would look like than a lot of your original audience . I don’t have any issue with views changing as the economic climate changes but whatever the climate is I’m not going to be looking to get a job and do real estate adjacent businesses for 30 years while I wait for my equity to compound . That’s a fine path but that would be really far from a positive outcome for me. Whereas you all see that as a pretty solid outcome .
Good podcast. Definitely agree that depending on which phase in life is the investor in. Once retirement in place, cash flow is crucial which makes sense paying off debt. My only concern by having a property free and clear will allow tenants to access entire equity if we were to be sued.
I find this so relatable and I love the expression “small & mighty.” In Clemson, do rental rates also tend to JUST keep up with inflation, so far? I’m curious if the cashflow you and your partner will likely be making in 10 or 20 years, will likely feel like it’s keeping up with or exceeding inflation? In other words, in 10-20 years, is it likely that you will still be able to fully live off your cashflow from this same number of properties?
Thanks! Our rental rates have exceeded inflation lately. And we aren't just counting on rent growth. We are also still reinvesting and slowly buying or partnering on more deals. It's just more conservative. So, I'm not really worried about inflation like a lot of people are because I think I'll outgrow it or be flexible enough to handle it
No. I haven't been a professional real estate investor for many years. Sure it's a great tax benefit if you also earn a lot of active income. But my goal is to not NEED to make active income. So, not as necessary.
Congrats to BP on your sucess, your videos and interviews are very inspiring and have helped me a lot as well. In my humble opinion, I think the shows have reached a peak on innovation, yes the analysis bring new content, and I think those should keep up the good work. But I would like to see David's day to day when investing, i want to see you David or Rob out on the field doing your thing... how you interact with contractors, what projects youre involved in. If is Airbnb lets see it. Lets see the progress and how your deals evolve. That I thing would bring great value to you show. Lets bring it back to the drawing board. Much love for you guys. Please dont take this the worng way. Just wanted to throw that out there. Cheers from Florida.
I appreciate Chad's perspective on investing based on where your at in life and taking a knee when you've won the game. Chad talks kind of like he's winding down his investment career however he is still a young man and his chidren are still growing up so I have a feeling that Chad will come to a place where he wants to create a financial legacy to include his children and maybe grandchildren and end up turning it back up again. Thanks
If you started with 0 properties, but could allocate $200k/year towards investing in RE - what would you focus on? Multifamily? Be an LP? To get to $10k/month. How long should that take us, 3-5 years?
Hmm this is interesting... Jason Hartman states that Rental Properties should be refinanced until you die while this guy is stating the complete opposite. Basically if property value is going 10x than the debt makes sense but if the property value is stale than owning it makes sense and the debt does not!
Lots of different opinions out there. My main point was that if max growth is your only goal, then keep debt forever. But for most of us, it's about optimizing life - not becoming a 100-millionaires or billionaires. So, at some point when you have enough - less risk, more cash flow, and fewer properties makes a lot more sense.
Great show. I have been following this exact approach and wondering if I am stupid because know one talks about it. When you retire off your portfolio, risk and cash flow is a big factor in decisions. Yeah, I understand I could make more leveraging a bunch of properties, but I don't need more money and definitely don't need the risk.
I keep modeling this question with spreadsheet examples. My general conclusion is that as long as the investment you invest in beats the cost of your loan, leverage technically wins. But the additional risk is a real consideration. One way to reduce risk is to diversify. While I’ve concluded that I probably should leverage as hard as I can, I should also continue to invest in different kinds of investments that correlate as little as possible. Right now that means stock market and commercial syndication real estate. I’m also thinking about car wash and laundry businesses. I’m always on the lookout for new ideas. Also just trying to mix up my real estate. I started in multifamily. Now I’m looking at single family. Also I’ve started with distressed properties and neighborhoods but Id like to start developing more across the socioeconomic spectrum. There’s always that nagging question-could ALL of these fail simultaneously? Leverage is a bit of a house of cards.
Thanks for all you shared! Curious to know what would you do in my situation. I have 136K of student loans between 5.31 to 6.6 percent. And my biggest mortgage is 7 percent of 95K. I have 136K in cash. Should I pay loans or the 7 percent mortgage?
Instead of paying those off you could pay off new properties you buy at higher interest rates. Keeping those especially makes sense if you're still in growth mode.
Lol, the “if you need $10K a month and houses rent for $1800 and expenses are $800, then you’re 10 paid off doors away from having that number.” Example is wild. This is just a fancy and complicated way of saying, “Have two million dollars.”
Yes, you have to build wealth of a couple of million dollars. No doubt. But you could also have $2 million spread over 40 rental properties. Or 100. Or put it in the stock market. How you choose to arrange and allocate that equity makes a big difference for risk, income, and simplicity. And my main point was a simple allocation of that equity into 10 properties can work very well.
Thanks for having me on the show guys! It was a lot of fun and I hope everyone finds it helpful.
Also love your podcast.
Gracias por compartir la manera en que piensas. Espero alguna ves puedas visitar Puerto Rico y que hablemos en español. Yo hacabo de comprar un duplex, lo arregle y ya pude rentar el primer piso y con eso pago el morgage. Estoy aprendiendo y me da alegria el poder aprender de ti. Gracias, señor Cardson!
Love the small investor focus! David Greene is also good about providing advice that is easy to follow / applicable for many (Rob not so much).
@@luisrivera5314 gracias Luis! Me encantaría visitar Puerto Rico y hablar de inmobiliaria contigo alguna vez. ¡Y felicidades por su compra de dúplex! ¡Genial!
@@superhostreacts Thanks! I was impressed by both David and Rob, who is a funny dude. Laughed out loud 2 or 3 times chatting with him.
I resonate with this so much! My parents were able to retire early with only seven properties they bought those seven properties in the 80s and 90s. They are now paid off and they generate $14,000 a month so without real estate they would not be able to retire, and not only did they retire. They were able to retire early that’s why I love real estate.
Love this story! Thanks for sharing!
OUTSTANDING!!💢
Hi I’ve been a real estate investor for 5 years now, actually it was Bigger pockets that inspired me to buy my first rental. I’m now at 16 single family rentals with my average cal rate of 13%. What I’m most proud of is I bought these all on seller finance utilizing the morby method by Pace Morby. I know he was a prior guest of yours. I’m now shooting for 150 units in the next few months and hopefully will purchase a larger multifamily in the next two years. Thanks for what you guys do, BP was my introduction to Real estate investing.
This was my favorite show! & He is my goal on my realestate journey. I have 2 doors currently and have already been able to travel full time for the past 2 years on the income. Cost of living for me in places like Colombia and Thailand is around $1500 per month living a great life. Great episode!
One of my favorite shows, thanks BP Team and Coach C!
Our pleasure, thank you!!
Glad to hear that! Thanks for the feedback and for watching!
I love this simple approach to REI. All I really hear about is leveraging with debt.
Pete Fortunato is definitely somebody to listen to super smart. I’m 54 gonna be paying off four of my rental properties that I bought 20 years ago the other three I should pay off in the next two years I’ve got 6 1/2% interest mortgages. Kids are out of my big house, so I’m selling that to facilitate. Buying a boat and going to cruise around the Bahamas and the Caribbean, before I get to old to enjoy the fruits of my labor. My son is mini me and will help me achieve this. Great video guys, sometimes your time needs to be monetize and when your older it’s worth way more!!!!!
Chad really speaks to me. I’m 62 years old, self manage 20 debt free units. Started in 2001. I love the lifestyle and love serving my Residents. Chads advice is advice to follow!!! Thank you Chad
It's a lot easier to manage and live off of (5) fully paid off properties, than 10 leveraged properties with double the tenants (and double the roofs, toilets, appliances, sewers, etc)
So so so many golden nuggets! Peeps, it is possible to work 2 hours a week because i work 4 hours a year per property. All about systems and processes. Keep up the good work!
That was a really good podcast! Really learned a lot about how to think about being in growth, or income phase, de risking when you feel it’s time, etc.
I’ve thought about this topic a lot and loved hearing your brain storming about the whole idea
Glad it was helpful! I'd like to see it talked about more. Not a normal topic. Usually more about starting or growth
Reading Chad's book now it is next to me now. Excellent book!
Loved this episode. It really helped more with my approach to real estate investing. Iam going to put more of a down payment and work on putting extra towards my mortgages.
Glad it was helpful Craig. It's an approach that can help you sleep better at night.
Haha, I was the guy at the last BP meet up at a brewery with a beer in my hand only 3 doors under my belt. You nailed the person and the feelings. And I lol’d heavy at “thirst trap for dudes.” Also very accurate
Pretty cool! Thanks for sharing
Call it Door Discomfort 😅
There we go! I like that.
It’s the right approach’. I agree with this philosophy, similar to the 4 hour work week philosophy’
Very rare BP does these interviews these days as I feel like they are mainly pushing towards syndications and large multi mainly. Love following Chad and his channel!
Rents go up to hedge against inflation in paid off properties in addition to property values going up.
I’m with you coach! This is what I’m
sharing on my new UA-cam channel! 😊I’ve got five properties which I affectionally refer to as my Cutie Pies! I’m too in the “ender” phase stacking cash to pay them off! It’s the only way to find peace of mind! ❤🎉. Congratulations on all your accomplishments! I’m hoping I receive your book soon! I’m on your launch team! 🎉😊
Cutie pies! Love it. And thanks for your support, Alison. I'm hoping the book gets there soon, too.
Love this episode and the "small and mighty" messaging.
My wife and I have been so hyperfocused on acquisitions that we never paused to determine how much RE income is enough?
Great discussion on numerous topics
Small but mighty !!! Is an epic vision 🙌🏾🇺🇸❤️💪🏾👊🏽👏🏿
Preach!!! “It’s a tax write-off” lol, but you still spent the money!
not sure why it's such a mystery! lol.
Small and mighty investor that’s what I want to become! Ordered the book today
Spanish podcast that will be great 👍
gracias!
To me the difference of opinion is more about the fact that you all have a fundamentally different view of what a successful real estate investment career would look like than a lot of your original audience . I don’t have any issue with views changing as the economic climate changes but whatever the climate is I’m not going to be looking to get a job and do real estate adjacent businesses for 30 years while I wait for my equity to compound . That’s a fine path but that would be really far from a positive outcome for me. Whereas you all see that as a pretty solid outcome .
Amazing information. Keep it up
Good podcast. Definitely agree that depending on which phase in life is the investor in. Once retirement in place, cash flow is crucial which makes sense paying off debt.
My only concern by having a property free and clear will allow tenants to access entire equity if we were to be sued.
Thank you, this was a great show
Thanks for the knowledge and for sharing your perspective on the point of investing
I find this so relatable and I love the expression “small & mighty.”
In Clemson, do rental rates also tend to JUST keep up with inflation, so far?
I’m curious if the cashflow you and your partner will likely be making in 10 or 20 years, will likely feel like it’s keeping up with or exceeding inflation?
In other words, in 10-20 years, is it likely that you will still be able to fully live off your cashflow from this same number of properties?
Thanks! Our rental rates have exceeded inflation lately. And we aren't just counting on rent growth. We are also still reinvesting and slowly buying or partnering on more deals. It's just more conservative. So, I'm not really worried about inflation like a lot of people are because I think I'll outgrow it or be flexible enough to handle it
Coach is the bomb 💣 love ❤️ his content. Faithful follower of him and BP 🙌🏾🙏❤️🇺🇸👊🏽👏🏿🇺🇦👑
I love this perspective! I'm curious - do you have to pay income taxes on the $10k per month income?
Yes, but not all of it. Some of it is sheltered by depreciation. Overall I have a lower tax rate than the equivalent earned with active income.
Does the management structure still qualify for “full time real estate investor”?
No. I haven't been a professional real estate investor for many years. Sure it's a great tax benefit if you also earn a lot of active income. But my goal is to not NEED to make active income. So, not as necessary.
would love to hear it in Spanish
None of this works at 7-8% mortgage rates.
Congrats to BP on your sucess, your videos and interviews are very inspiring and have helped me a lot as well. In my humble opinion, I think the shows have reached a peak on innovation, yes the analysis bring new content, and I think those should keep up the good work. But I would like to see David's day to day when investing, i want to see you David or Rob out on the field doing your thing... how you interact with contractors, what projects youre involved in. If is Airbnb lets see it. Lets see the progress and how your deals evolve. That I thing would bring great value to you show. Lets bring it back to the drawing board. Much love for you guys. Please dont take this the worng way. Just wanted to throw that out there. Cheers from Florida.
🇪🇨 🇪🇸 coach loves his Latino people 🙌🏾🙏👏🏿💪🏾🇪🇸🇪🇨
Witty , hilarious, and educational. Mahalo!
I appreciate Chad's perspective on investing based on where your at in life and taking a knee when you've won the game. Chad talks kind of like he's winding down his investment career however he is still a young man and his chidren are still growing up so I have a feeling that Chad will come to a place where he wants to create a financial legacy to include his children and maybe grandchildren and end up turning it back up again. Thanks
Another epic interview with an amazing real estate entrepreneur 🙌🏾🙏🇺🇸👊🏽⛏️💪🏾❤️👍
Please do an episode in Spanish!
If you started with 0 properties, but could allocate $200k/year towards investing in RE - what would you focus on? Multifamily? Be an LP? To get to $10k/month. How long should that take us, 3-5 years?
I’m in the same boat and also curious.
good episode
Hmm this is interesting... Jason Hartman states that Rental Properties should be refinanced until you die while this guy is stating the complete opposite. Basically if property value is going 10x than the debt makes sense but if the property value is stale than owning it makes sense and the debt does not!
Lots of different opinions out there. My main point was that if max growth is your only goal, then keep debt forever. But for most of us, it's about optimizing life - not becoming a 100-millionaires or billionaires. So, at some point when you have enough - less risk, more cash flow, and fewer properties makes a lot more sense.
@@CoachChadCarson Thank you for the information. 😀
Great show. I have been following this exact approach and wondering if I am stupid because know one talks about it. When you retire off your portfolio, risk and cash flow is a big factor in decisions. Yeah, I understand I could make more leveraging a bunch of properties, but I don't need more money and definitely don't need the risk.
I keep modeling this question with spreadsheet examples. My general conclusion is that as long as the investment you invest in beats the cost of your loan, leverage technically wins. But the additional risk is a real consideration. One way to reduce risk is to diversify. While I’ve concluded that I probably should leverage as hard as I can, I should also continue to invest in different kinds of investments that correlate as little as possible. Right now that means stock market and commercial syndication real estate. I’m also thinking about car wash and laundry businesses. I’m always on the lookout for new ideas. Also just trying to mix up my real estate. I started in multifamily. Now I’m looking at single family. Also I’ve started with distressed properties and neighborhoods but Id like to start developing more across the socioeconomic spectrum. There’s always that nagging question-could ALL of these fail simultaneously? Leverage is a bit of a house of cards.
Depends on how you want to spend your time.
Thanks for all you shared! Curious to know what would you do in my situation. I have 136K of student loans between 5.31 to 6.6 percent. And my biggest mortgage is 7 percent of 95K. I have 136K in cash. Should I pay loans or the 7 percent mortgage?
How about Real eshaming!!
How do I use my equity to buy another house? I have 130k equity
Why is your hand blue
Can there be a whole niche of podcasts in spanish!!! Id be happy to host them 😅😅
I love the idea! My spanish isn't good enough to host one, but I'd love to be a guest:)
Coach Carson !
👋
One rental at a time is where I found you and I need to get your educational program sir
So get $10,000 @ month cashflow, retire in peace? So i need 16 single family house to do that.
I hit my number but the number went up!
those old moving goal posts!
Muy buenos escucharlos acerca de como superarse en usa
All of our loans are between 3%-3.75%. 30 yrs treasury is 3.9% LOL.
Instead of paying those off you could pay off new properties you buy at higher interest rates. Keeping those especially makes sense if you're still in growth mode.
🤘
❤
ppl really use Threads? Lol
Lol, the “if you need $10K a month and houses rent for $1800 and expenses are $800, then you’re 10 paid off doors away from having that number.” Example is wild.
This is just a fancy and complicated way of saying, “Have two million dollars.”
Yes, you have to build wealth of a couple of million dollars. No doubt. But you could also have $2 million spread over 40 rental properties. Or 100. Or put it in the stock market. How you choose to arrange and allocate that equity makes a big difference for risk, income, and simplicity. And my main point was a simple allocation of that equity into 10 properties can work very well.
REAL shame lol
Threads???? Bp Doesnt like free speech?
Third
First