Listened to this podcast and then sat down to read and the first thing I read was Prov 23:4 “ Don’t wear yourself out trying to get rich. Be wise enough to know when to quit.” 😮 Got the message today I think!😊 Great episode!
This was probably one of the best episodes. A different mindset in real estate that I hear very few talk about. You can tell his family is very important to him. Thank you for showing us how to “do what matters”.
This is the episode I needed! I’m at a crossroads where I saved enough to either buy my next property or (almost) pay off my current rental. This is what I needed, thank you!
I ordered Chads Book a couple of days ago. He is so down to earth and his approach really speaks to me: what is the minimum amount of doors 🚪 I can have to meet my needs and reach my goals? I know some people who calculate their cushion needed by taking their “Lean FI” number that represents the monthly amount they need to cover their regular lifestyle perhaps and then multiplying that by a number they feel comfortable with. So, if you can comfortably live and cover all your expenses on $50k right now, you could aim for having a cashflow from all your real estate/stocks/business/social security that is perhaps 3 times that amount, for example, to give you a cushion of safety. The higher the amount you are planning to live on, the lower the multiple needed. So, if you could live on $100K per year, then maybe you would only aim to have a total cashflow of two times that amount, rather than 3 or 4 times that amount.
So refreshing. This makes it feel much more reasonable to reach FI using real estate as a tool, instead of buying myself another job or building an "empire," and having time to freely pursue other passion and purpose projects.
Bro I'll be happy with 2-5k coming in. I can go travel the world, and be in the same beautiful places as the guys making millions, a few rentals, and a sailboat is all I need.
It's interesting that I came across this episode. I was thinking earlier today about how I'm more of a slow paced investor and I'm ok with that. I bought one property in 2019 and one in 2020. I finally feel like I'm ready for more and would like to do two this year. On the other hand I have a friend who just got into real estate this past year and already had four when I spoke with her last. People may not agree with my strategy but I prefer to buy my properties move in ready. I'm not into all the rehabbing, I want to put it on the market the same day I close. I've never really thought of this as a way to replace my current income but rather as a way to line something up for the day I decide I no longer want to work. So with rent inflation, appreciation on the property and pay down of loans I should be ready whenever that time comes . My first goal is to have five properties and I'll reassess when I've reached that.
Coaches reality on real estate investing is this…obtain the minimal amount real estate cash 💵 flowing possibilities that will maintain your quality of life and stay there. Don’t add properties just maintain them and pay them off for quality of mind and peaceful living. Too big of a real estate portfolio adds more responsibility and headaches. Small but mighty works for most investors ❤️👏🏿🙏🙌🏾👊🏽💵🇺🇸❤️💪🏾
I wish i knew a coach carter in life i am working 7 day work weeks to retire from my 9-5 job . With only $500 in rent coming in. Keep grinding everyone! Perseverance
I know I’ll have this problem of wanting to buy more than I need and try to grow at a rapid pace. I haven’t started investing yet, I’m in my research phase, but my goal is to actually not really go for the money, I just need enough for a comfortable lifestyle. I want to do it, not to buy fancy things, but to help get my family out of debt. Then, when the building is all paid off, I want to help as many lower income families as I can to get to a better place in life with cheaper rent. I’m looking to make connections with other investors right now and understand the process better, I am more of a visual learner, though this podcast helps me to easily understand the fundamentals more and more.
@@CoachChadCarsonyou're correct. After reading my comment I've decided to take it down. Congratulations to you and your family. Also I am from Greenville so I am familiar with Anderson S.C.
There are a couple. 1. Buy more properties than you need (like 15 if you want 10 in the end). Then sell the extras and use profits to pay off some or all of the remaining. 2. Rental debt Snowball - use extra cash flow to pay off one property at a time. Get it paid off fast. Then move to the next and the next. 3. Cash out refinance one property and use cash to pay off another. I talk in more detail about these in the book as well
I wish I had learned this earlier. I found, then passed on multiple properties because I didn't think I would want to 1. Flip or 2. Hold forever. I never considered buying, holding more than a year and then leveraging gains into a different property......better to learn now than never!
Hey everyone. It's fair game to decide whether you think I'm small or not. But just so you know, my 50 units are in a lower priced market and my rent averages ~ $750/unit. And we have kept that amount for many years now. With higher rents I would need fewer. My definition of small and mighty is "the least number of units you need to achieve your goals." The actual number will depend on your market prices, amount of leverage, and your personal goals.
He did say 33 buildings,obviously numerous are multi family to get to the 100 doors between his partnership. I’ve watched him for a couple years now. Definitely has a lot of valuable info,thanks Chad!
Listened to this podcast and then sat down to read and the first thing I read was Prov 23:4 “ Don’t wear yourself out trying to get rich. Be wise enough to know when to quit.” 😮 Got the message today I think!😊 Great episode!
I was thinking the same!
This was probably one of the best episodes. A different mindset in real estate that I hear very few talk about. You can tell his family is very important to him. Thank you for showing us how to “do what matters”.
This is the episode I needed!
I’m at a crossroads where I saved enough to either buy my next property or (almost) pay off my current rental. This is what I needed, thank you!
Buying the book! The interview really struck a cord with me and opened my eyes, thank you!!
Glad to hear it Karen! Thanks for ordering the book.
I ordered Chads Book a couple of days ago. He is so down to earth and his approach really speaks to me: what is the minimum amount of doors 🚪 I can have to meet my needs and reach my goals?
I know some people who calculate their cushion needed by taking their “Lean FI” number that represents the monthly amount they need to cover their regular lifestyle perhaps and then multiplying that by a number they feel comfortable with.
So, if you can comfortably live and cover all your expenses on $50k right now, you could aim for having a cashflow from all your real estate/stocks/business/social security that is perhaps 3 times that amount, for example, to give you a cushion of safety.
The higher the amount you are planning to live on, the lower the multiple needed.
So, if you could live on $100K per year, then maybe you would only aim to have a total cashflow of two times that amount, rather than 3 or 4 times that amount.
I am not looking for be a millionaire but to have the time to give to my family!!! This hit on the spot
I'm with you! It's staying clear on the why of wealth.
So refreshing. This makes it feel much more reasonable to reach FI using real estate as a tool, instead of buying myself another job or building an "empire," and having time to freely pursue other passion and purpose projects.
Bro I'll be happy with 2-5k coming in. I can go travel the world, and be in the same beautiful places as the guys making millions, a few rentals, and a sailboat is all I need.
We need more mixed use walkable communities ❤️🙏🙌🏾👏🏿
It's interesting that I came across this episode. I was thinking earlier today about how I'm more of a slow paced investor and I'm ok with that. I bought one property in 2019 and one in 2020. I finally feel like I'm ready for more and would like to do two this year. On the other hand I have a friend who just got into real estate this past year and already had four when I spoke with her last. People may not agree with my strategy but I prefer to buy my properties move in ready. I'm not into all the rehabbing, I want to put it on the market the same day I close.
I've never really thought of this as a way to replace my current income but rather as a way to line something up for the day I decide I no longer want to work. So with rent inflation, appreciation on the property and pay down of loans I should be ready whenever that time comes . My first goal is to have five properties and I'll reassess when I've reached that.
God Bless You Chad. Just start with one. Mindset Everything!
🙏
Fantastic interview!
❤
Mindset! Thank You Tony and Ashley.
Coaches reality on real estate investing is this…obtain the minimal amount real estate cash 💵 flowing possibilities that will maintain your quality of life and stay there. Don’t add properties just maintain them and pay them off for quality of mind and peaceful living. Too big of a real estate portfolio adds more responsibility and headaches. Small but mighty works for most investors ❤️👏🏿🙏🙌🏾👊🏽💵🇺🇸❤️💪🏾
This is the video I been waiting for! This is the way I have always looked at real estate.
Welcome to the Small and Mighty Team! Thanks for the feedback.
I wish i knew a coach carter in life i am working 7 day work weeks to retire from my 9-5 job . With only $500 in rent coming in. Keep grinding everyone! Perseverance
What a great pod. Thanks
I know I’ll have this problem of wanting to buy more than I need and try to grow at a rapid pace. I haven’t started investing yet, I’m in my research phase, but my goal is to actually not really go for the money, I just need enough for a comfortable lifestyle.
I want to do it, not to buy fancy things, but to help get my family out of debt. Then, when the building is all paid off, I want to help as many lower income families as I can to get to a better place in life with cheaper rent.
I’m looking to make connections with other investors right now and understand the process better, I am more of a visual learner, though this podcast helps me to easily understand the fundamentals more and more.
Thank you for this interview Chad.
if I wanted to grab more money I'd have spent my time on something other than this. I promise. Lol. It's been a labor of love.
@@CoachChadCarsonyou're correct. After reading my comment I've decided to take it down. Congratulations to you and your family. Also I am from Greenville so I am familiar with Anderson S.C.
@@wali2500 thank you for the dialogue. It's all good and I wish you the best of luck and appreciate you watching.
Coach Carlson is one True Character Human Been. Never heard one BS coming out of his.
Coach is the bomb 💣 epic interview 🙌🏾💪🏾👏🏿❤️👊🏽🇺🇸🙏
So what was the strategy to pay off properties?
There are a couple.
1. Buy more properties than you need (like 15 if you want 10 in the end). Then sell the extras and use profits to pay off some or all of the remaining.
2. Rental debt Snowball - use extra cash flow to pay off one property at a time. Get it paid off fast. Then move to the next and the next.
3. Cash out refinance one property and use cash to pay off another.
I talk in more detail about these in the book as well
I wish I had learned this earlier. I found, then passed on multiple properties because I didn't think I would want to 1. Flip or 2. Hold forever. I never considered buying, holding more than a year and then leveraging gains into a different property......better to learn now than never!
More doors more of the opportunity.
👀
Small and mighty, yet he has a 100 houses 😂
Yes, with a partner, and it’s taken over 20 years..
@@sarahgrillo9915 50 isn’t a small portfolio either!
He is talking about being small now for new people.
Hey everyone. It's fair game to decide whether you think I'm small or not. But just so you know, my 50 units are in a lower priced market and my rent averages ~ $750/unit. And we have kept that amount for many years now. With higher rents I would need fewer.
My definition of small and mighty is "the least number of units you need to achieve your goals." The actual number will depend on your market prices, amount of leverage, and your personal goals.
@@wali2500f I wanted to grab more money I'd have spent my time on something other than this. I promise. Lol. It's a labor of love.
He did say 33 buildings,obviously numerous are multi family to get to the 100 doors between his partnership. I’ve watched him for a couple years now. Definitely has a lot of valuable info,thanks Chad!