COACH!! That's my mentor. I've met him in person at a REI meet up in Charlotte. My wife and I acquired one property during my bootcamp with him 2 years ago. We're at 3 now. He's a great teacher!
This is probably one of the most important real estate episodes I've ever seen. The whole point of real estate and work in general is to help you live life.
I love the mindset here. It resonates with me. I only have 3 rental properties as part of my portfolio. One is a STR. Two of my properties are in an area where appreciation in equity and rent are good. This is a good buffer for inflation. I'm looking at adding maybe one more as a long term rental, and that's it. Stocks make up another portion of my portfolio. This provides me more than enough to live a comfortable life. My lifestyle doesn't require much money, so I don't need multimillion status. Plain little millionaire is fine.
@constellasian, I totally agree with you. I also like this mindset. I only have a duplex that performs very well and a paid of residence. My plan is to build an ADU, and that is it. Stocks are also a portion of my portfolio. A lot of people think that if you are not constantly scaling up buying more units, you have a limited mindset. My lifestyle doesn't require much money. It allows me to travel and do the things that matter to me.
I’ve been following BiggerPockets for a long time, and this is one of the best episodes I’ve seen. I wish I had watched something like this years ago-my rental portfolio might be in much better shape. Keep it up!
Always great to have a discussion with the Coach. May be the real measure of success is ROT... Return on Time... That's been mine. I took on this journey to get my time back to do what I enjoy.
These are the kind of episodes I love, It’s very relatable. Coach Carson is one of my favorite real estate investor, he keeps it simple , small and mighty!
This episode really spoke to me. I subdivide land and use it to build small multi-family from the ground up. Since I keep my land costs absurdly low and do the build myself, these small multis perform as well as a lot of larger properties and everything is brand new.
This is great stuff! I have a small portfolio of properties and always felt the need to keep getting more. That’s my ego talking. This video was a light bulb moment! Thanks!
Real estate is often touted as one of the best ways to build wealth for retirement. It’s like having a golden goose that keeps laying eggs in the form of rental income.
My goal was never to accumulate dozens of properties with small cash flow. My goal was to have 10 paid off properties before I retired. I came up short. I have 6 paid off rental properties and a nice 401k. These assets will fund my retirement.
@@coachingwithmissdee4948 I initially had 30 year mortgages, but I refinanced to 15 year loans when rates were low. I also had 2 other rental properties that I sold to pay down the mortgages. When I received bonuses from my W2 job, I also applied it to mortgages as well.
I had the fortune of having W2 income. When I received bonuses from sales or promotions, I paid down the mortgages. I also sold some undersireable properties and applied the proceeds to the properties I kept. Now that the properties are paid off, I am improving (i.e. roof, kitchen) to increase rents.
The fact that his honest enough to say he doesn’t understand the risk in bigger deals such as syndication deals is so refreshing. It’s so important to remember not to go into investments not knowing what you are risking. Thanks Chad for being so honest and providing a whole different view of RE investing!
I like the direction you guys are going, Chad Carson is more relatable to most of the guest that have come on lately. I would also consider having on "The Lumberjack Landlord" , Michael Zuber from one rental at a time and John Schaub.
This was one of the better bigger pockets! It would be nice to hear more about different real estate investors perspectives and experiences when they've reached this "midlife real estate crisis". My husband and I are in this exact same mindset. We've been investors for about six years now and are starting to think about what true success looks like and what we want to do with the second half of our life. Immediately we both talked about wanting to spend more time with the people we love. It's easy to chalk it up to being busy… But that shouldn't be an excuse. Our culture has made that a norm and acceptable, but is it really? The people you love our who matters! Let's build better relationships and take the time to actually listen and have conversations.
You’re speaking my language with this strategy. We have 2 great rentals, shopping for a third. Aiming to get to 5 or so here in Oregon. Thank you , it’s nice to know there are others who think RE investing can support a creative lifestyle.
Yes I want to know this too. Please someone explain how when you start acquiring 3+ rental properties how you begin paying off the loans, and why is it even good to pay them off early instead of using this cash to acquire more debt paid by tenants.
best video yet. refreshing perspective and my mindset this whole time. 26 closing on my first home next month. the freedom of time and energy is more valuable than the extra money in my opinion
Loved this episode… that is my philosophy! And I am happy, blessed and thankful to be living off of my rentals now and being Financially free with 13 paid in full rental properties. Now I am focusing more in the Stock Market as a long term investor👍👍Cash flow comes from our rentals… if I see another great opportunity will buy it, but is not the idea of accumulating… is doing your best with your resources. The best for me is living an easy, peaceful, family oriented life!🙏🙏
You need land property that will most likely appreciate as time goes on. Don’t touch your 401k and prep yourself wisely with real estate investing, I know cause I’ve gained a lot from this.
In my opinion, a housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living.
I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!
You are right! I’ve diversified my 450K portfolio across various market with the aid of an investment coach, I have been able to generate a little bit above $830k in net profit across high dividend yield stocks, ETF and bonds.
Much credit goes to *Izella Annette Anderson* for her significant contributions. She maintains an online presence, making it easy to locate her. While other advisors might pose challenges to find Zella has proven to be an excellent mentor throughout the year.
Thanks for the advice. The search for your coach was simple. I investigated her well before using her services. Considering her résumé, she appears competent.
Im 30 and debt free with a good job as a behavior analyst. Im building myself a small house on my inherited land as my “forever home”. It’s completely feasible I will have it paid off in 5 years, then I want to buy myself my first rental property and pay it off in less than 5, then my second in less time than that. I won’t have 100 doors by retirement but I will be doing well between my pension plan and roth IRA. I admire the people with the hustle to get 100 doors but personally I couldn’t handle that much debt looming over me. It is purely psychological for me
Good stuff and we all love Coach Carson. Having said that, it is rather annoying that you can't look straight at the camera, but read off a Teleprompter. I'm sure that you can convey the same message in your own words with having it always be scripted. Just some constructive advice as you take on the reins of bigger pockets. good luck.
Yea I was always a bit shy of saying I only want 5-7 houses I’m 50 years old and I need just enough to care for my loved ones after my divorce surf every spot from Mexico to Oregon and hand built a cabin for her -half way to snowbowl Arizona and so my 30 yr old girlfriend doesn’t have to take care of me Aloha from Hawaii 🌴
I've never asked "how many doors do you own or have you owned?", but the only reason why I would ask that question is to get an idea to the investor's experience in the space. If the investor has been "in the trenches", then I will probably learn quite a bit from that person. If they haven't, then what I learn from them may be minimal.
The answer to how to make it cool to set a goal and then stop is that you stop and start a podcast and sell courses of how to reach financial freedom. Yes and offer coaching and consultation services as well. And to keep the illusion of not stopping you then talk about what your students are doing. Finally you take a piece of the student's action. Three it is.😂
Rental cash flow pays my family's bills every month and has since 2017. So, that's not my story. But I think you're right that there are plenty of examples where your explanation is true, so I don't blame you for calling it out and having people be skeptical/cautious. Thanks for the comment.
Chad Carson's story is a powerful reminder that success isn't just about the number of properties you own-it's about building the life you truly want. 🏡✨ By focusing on a 'small and mighty' portfolio with fewer rentals but higher cash flow, you can achieve financial freedom without sacrificing your time. If you're serious about retiring early and living life on your terms, this episode is a must-watch! 🚀 #FinancialFreedom #RealEstateInvesting
I'm 56, life has already been a dollar store vacation with nothing to show. It's the suffering animals that fuel me. It's rolling coal until I'm carried away. Everything is for them now. 😿💔
Around $250,000 was made when I sold my flat in Rochester. That's why I was upset when my standard savings account yielded only $171 in interest. It was suggested to me to buy stocks after I conducted some study. Which stocks would be a good place to start?
I love this. thank you. God gave me the opportunity to invest in real estate when I was broke single mom with no income and babies. I've gotten about 28 under my belt and I'm actually happy and provided for! I feel just fine where I am, esp. as a woman, I want to spend my time with my family and making my house a home, and enjoying nature and I don't want to keep analyzing and finding the next best thing anymore, I'm tired! I'm eternally grateful that God provided for me way out of my situation, but I don't feel like I have to continue scaling up up up. ❤
Door count is just a simple flex. It’s bragging rights but for what? Reminds me of people who brag about owning a specific car. Just stay in your lane and build where you’re comfortable. If it’s 4,10,20… who cares as long as you can manage it all and it’s making money… that’s gold. If it consumes you and you stress? Is it worth it?
I personally want to keep building new construction / flips but get away from the rentals. I love building a beautiful product to give to an excited family
$120,000 for a family is not really a comfortable living anymore, and finding anything that cash flows $1000, at least as of late, is quite rare. So having a larger "door count" is going to be almost a necessity. That being said a quality door count is a better metric.
Thanks for the comment. My $120,000 example with $1,000 of cash flow / property was assuming they were paid off. Yes, you'd need more (usually ~ 3x more) to have same amount of cash flow with conservative debt. I give more examples like that in the book.
Depending on where you live 120k is good…larger door count is a headache…especially apartments…single family is definitely where it’s at…they don’t bother me at all…My 8 unit apartment it’s always something.
You brought on Coach Carson, you ran me off of bigger pockets because I was not the next. David Green and Coach Carson welcomed me in just like one rental at a time and many others and oh yeah they didn’t try to sell me a bunch of shit.
So which is it? You need to be 17-year-old phenom and own half the country in apartment housing or just a few rentals make up your mind. Bigger pockets you lost my viewership. I’ve moved on.
I love it. I like the idea of not really caring about door count. My goal was, the right amount of cash flow from the least amount of units.
Definately glad bp is head back to this mindset. Not the grow into oblivion mindset that serves only the ego. Good moves bp
COACH!! That's my mentor. I've met him in person at a REI meet up in Charlotte. My wife and I acquired one property during my bootcamp with him 2 years ago. We're at 3 now. He's a great teacher!
thanks Tony!! Good to see you! Proud of you for buying that property. Good luck going forward!
@@CoachChadCarson thank you so much for the reply. I hope you and your family are doing well.
This is probably one of the most important real estate episodes I've ever seen. The whole point of real estate and work in general is to help you live life.
Dave is such a smart dude. Love that guy.
I love the mindset here. It resonates with me. I only have 3 rental properties as part of my portfolio. One is a STR. Two of my properties are in an area where appreciation in equity and rent are good. This is a good buffer for inflation. I'm looking at adding maybe one more as a long term rental, and that's it. Stocks make up another portion of my portfolio. This provides me more than enough to live a comfortable life. My lifestyle doesn't require much money, so I don't need multimillion status. Plain little millionaire is fine.
@constellasian, I totally agree with you. I also like this mindset. I only have a duplex that performs very well and a paid of residence. My plan is to build an ADU, and that is it. Stocks are also a portion of my portfolio. A lot of people think that if you are not constantly scaling up buying more units, you have a limited mindset. My lifestyle doesn't require much money. It allows me to travel and do the things that matter to me.
I’ve been following BiggerPockets for a long time, and this is one of the best episodes I’ve seen. I wish I had watched something like this years ago-my rental portfolio might be in much better shape. Keep it up!
Excellent episode. Chad is the best. This sounds like a One Rental at a Time conversation. Michael Zuber is changing lives.
Appreciate that
So good to see you back on the show, Chad! Thanks for sharing your philosophy!!!!
great to be back as a guest! Thanks for watching.
Always great to have a discussion with the Coach.
May be the real measure of success is ROT... Return on Time... That's been mine. I took on this journey to get my time back to do what I enjoy.
Ultimately time is all we've got. I love the ROT idea!
These are the kind of episodes I love, It’s very relatable. Coach Carson is one of my favorite real estate investor, he keeps it simple , small and mighty!
This episode really spoke to me. I subdivide land and use it to build small multi-family from the ground up. Since I keep my land costs absurdly low and do the build myself, these small multis perform as well as a lot of larger properties and everything is brand new.
Congrats! And probably a lot less risk and hassle, too! Keep it small, keep it all! Thanks for watching.
What do u build? Duplexes? Triplexes? Fourplexes?
@dr.brycebanner5676 Yes exactly that, and now I have a 6 unit in the pipeline.
How much is it costing you to build these multi families?
I second the question above. What is your average cost to build a new multi family aside from the cost of land. And what area are you investing in?
This is great stuff! I have a small portfolio of properties and always felt the need to keep getting more. That’s my ego talking. This video was a light bulb moment! Thanks!
Coach Carson is my favorite! His videos really inspire me.
This guy has great books behind him - Vagabonding, How to Think LIke Da Vinci, Ferris, Cal Newport, etc.
Real estate is often touted as one of the best ways to build wealth for retirement. It’s like having a golden goose that keeps laying eggs in the form of rental income.
My goal was never to accumulate dozens of properties with small cash flow. My goal was to have 10 paid off properties before I retired. I came up short. I have 6 paid off rental properties and a nice 401k. These assets will fund my retirement.
My question to you is, what strategies did you use to get them paid off?
@@coachingwithmissdee4948 I initially had 30 year mortgages, but I refinanced to 15 year loans when rates were low. I also had 2 other rental properties that I sold to pay down the mortgages. When I received bonuses from my W2 job, I also applied it to mortgages as well.
The idea of paying off a house is such a big goal of mine. I admire you! You sound like you did things the Dave Ramsey way or close to it.
I had the fortune of having W2 income. When I received bonuses from sales or promotions, I paid down the mortgages. I also sold some undersireable properties and applied the proceeds to the properties I kept. Now that the properties are paid off, I am improving (i.e. roof, kitchen) to increase rents.
You maybe didn't reach your goal mark of 10. But you achieved enough to give your life back time to live. Which is priceless. So you've won.
The fact that his honest enough to say he doesn’t understand the risk in bigger deals such as syndication deals is so refreshing. It’s so important to remember not to go into investments not knowing what you are risking. Thanks Chad for being so honest and providing a whole different view of RE investing!
I like the direction you guys are going, Chad Carson is more relatable to most of the guest that have come on lately. I would also consider having on "The Lumberjack Landlord" , Michael Zuber from one rental at a time and John Schaub.
thanks for the feedback, Nate!
Really great to see this opinion coming back to the main show. Very relatable to I think more of your target audience, thanks for the insight.
I think you're right. Many investors in BP audience want free time and freedom, not the biggest empire.
This was one of the better bigger pockets! It would be nice to hear more about different real estate investors perspectives and experiences when they've reached this "midlife real estate crisis".
My husband and I are in this exact same mindset. We've been investors for about six years now and are starting to think about what true success looks like and what we want to do with the second half of our life. Immediately we both talked about wanting to spend more time with the people we love. It's easy to chalk it up to being busy… But that shouldn't be an excuse. Our culture has made that a norm and acceptable, but is it really? The people you love our who matters! Let's build better relationships and take the time to actually listen and have conversations.
You’re speaking my language with this strategy. We have 2 great rentals, shopping for a third. Aiming to get to 5 or so here in Oregon. Thank you , it’s nice to know there are others who think RE investing can support a creative lifestyle.
Excellent, always good to hear from Chad 🇹🇩
Absolutely love C-2 zoned multi use properties!!! In opportunity zones even better.
Chad's the man I just bought his book 2 weeks ago and love it so far also goooo Gamecocks 👌
Thanks for getting the book Steven! And I'm a Clemson fan, but unlike most - I respect the Gamecocks, too :)
@CoachChadCarson Yes I know you are a Clemson fan that's why I'm messing with you but hopefully, both teams do well this year.
💪
@@stevencoyote746 i agree! Here's to a good season!
Best Episode on Bigger Pockets Ever!
Omg podcast like these keep me motivated. I just need to start!
I love that...what gets measured get done.❤
This is a great conversation
High value content. Thanks!
LOVE THIS PODCAST!! PLEASE DO A FOLLOW UP EPISODE AND DIVE DEEP MORE IN THIS TOPIC! WE WANT TO KNOW MORE 😊😊😊😊
Coach Carson is one of the best out there.
Appreciate you!
How do you pay off all these rentals wit low down payment? In the end, you only own debt paid by tenants.
Yes I want to know this too. Please someone explain how when you start acquiring 3+ rental properties how you begin paying off the loans, and why is it even good to pay them off early instead of using this cash to acquire more debt paid by tenants.
I am from Peru! So nice to hear that is on top of his list🎉🎉🎉 that comes hand in hand with his investment philosophy🎉
Great discussion
best video yet. refreshing perspective and my mindset this whole time. 26 closing on my first home next month. the freedom of time and energy is more valuable than the extra money in my opinion
I appreciate this philosophy myself.
Chad and Dave, amazing episode. ❤❤ the different REI perspectives.
Good lord… thank you. Some of David Greene’s advice was good. But what he preaches does not align with what 99% of RE investors are looking for
Excellent 🎉
Great show! 100% agree!!!
Good episode dudes
Chad is amazing!! Wealth of knowledge.
very kind! Thank you.
Loved this episode… that is my philosophy! And I am happy, blessed and thankful to be living off of my rentals now and being Financially free with 13 paid in full rental properties.
Now I am focusing more in the Stock Market as a long term investor👍👍Cash flow comes from our rentals… if I see another great opportunity will buy it, but is not the idea of accumulating… is doing your best with your resources. The best for me is living an easy, peaceful, family oriented life!🙏🙏
Coach Carson is awesome- so relatable
Great info. Thanks.
thanks for watching!
Man speaking right to my heart! Got me motivated to pay off our portfolio
You need land property that will most likely appreciate as time goes on. Don’t touch your 401k and prep yourself wisely with real estate investing, I know cause I’ve gained a lot from this.
solid episode!
In my opinion, a housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living.
I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!
You are right! I’ve diversified my 450K portfolio across various market with the aid of an investment coach, I have been able to generate a little bit above $830k in net profit across high dividend yield stocks, ETF and bonds.
@@hunter-bourke21Do you mind sharing info on the adviser who assisted you?
Much credit goes to *Izella Annette Anderson* for her significant contributions. She maintains an online presence, making it easy to locate her. While other advisors might pose challenges to find Zella has proven to be an excellent mentor throughout the year.
Thanks for the advice. The search for your coach was simple. I investigated her well before using her services. Considering her résumé, she appears competent.
Yes , time to do what makes you happy is the goal which requires time & passive money.
Chad is the man!
Im 30 and debt free with a good job as a behavior analyst. Im building myself a small house on my inherited land as my “forever home”. It’s completely feasible I will have it paid off in 5 years, then I want to buy myself my first rental property and pay it off in less than 5, then my second in less time than that. I won’t have 100 doors by retirement but I will be doing well between my pension plan and roth IRA. I admire the people with the hustle to get 100 doors but personally I couldn’t handle that much debt looming over me. It is purely psychological for me
So good! I really vibe with Chad's Small and Mighty ethos! Now only if I could just get started 😭😂
Great content.
Good stuff and we all love Coach Carson. Having said that, it is rather annoying that you can't look straight at the camera, but read off a Teleprompter. I'm sure that you can convey the same message in your own words with having it always be scripted. Just some constructive advice as you take on the reins of bigger pockets. good luck.
Iave 25 doors about 15 properties and I have being retired since 2015
Dave! Love your style, but please remember that there’s a camera on you. Please look at the camera!
Good video and I loved the points and mindsets. Everything was great except for those clemson helmets 😂 🤙🤙🤙🐓🐓🐓
Yea I was always a bit shy of saying I only want 5-7 houses
I’m 50 years old and I need just enough to care for my loved ones after my divorce surf every spot from Mexico to Oregon and hand built a cabin for her -half way to snowbowl Arizona and so my 30 yr old girlfriend doesn’t have to take care of me
Aloha from Hawaii 🌴
I've never asked "how many doors do you own or have you owned?", but the only reason why I would ask that question is to get an idea to the investor's experience in the space. If the investor has been "in the trenches", then I will probably learn quite a bit from that person. If they haven't, then what I learn from them may be minimal.
The answer to how to make it cool to set a goal and then stop is that you stop and start a podcast and sell courses of how to reach financial freedom. Yes and offer coaching and consultation services as well. And to keep the illusion of not stopping you then talk about what your students are doing. Finally you take a piece of the student's action. Three it is.😂
Rental cash flow pays my family's bills every month and has since 2017. So, that's not my story. But I think you're right that there are plenty of examples where your explanation is true, so I don't blame you for calling it out and having people be skeptical/cautious. Thanks for the comment.
Chad Carson's story is a powerful reminder that success isn't just about the number of properties you own-it's about building the life you truly want. 🏡✨ By focusing on a 'small and mighty' portfolio with fewer rentals but higher cash flow, you can achieve financial freedom without sacrificing your time. If you're serious about retiring early and living life on your terms, this episode is a must-watch! 🚀 #FinancialFreedom #RealEstateInvesting
I'm 56, life has already been a dollar store vacation with nothing to show. It's the suffering animals that fuel me. It's rolling coal until I'm carried away. Everything is for them now. 😿💔
Around $250,000 was made when I sold my flat in Rochester. That's why I was upset when my standard savings account yielded only $171 in interest. It was suggested to me to buy stocks after I conducted some study. Which stocks would be a good place to start?
Dave what is your usta player rating?
Doors matter if you are trying to become a centimillionaire. If you just want to leave your job a few doors can do it.
I love this. thank you. God gave me the opportunity to invest in real estate when I was broke single mom with no income and babies. I've gotten about 28 under my belt and I'm actually happy and provided for! I feel just fine where I am, esp. as a woman, I want to spend my time with my family and making my house a home, and enjoying nature and I don't want to keep analyzing and finding the next best thing anymore, I'm tired! I'm eternally grateful that God provided for me way out of my situation, but I don't feel like I have to continue scaling up up up. ❤
Door count is just a simple flex. It’s bragging rights but for what? Reminds me of people who brag about owning a specific car. Just stay in your lane and build where you’re comfortable. If it’s 4,10,20… who cares as long as you can manage it all and it’s making money… that’s gold. If it consumes you and you stress? Is it worth it?
Thanks for this simplistic perspective. All other viewpoints on having 1000s of properties stress me out just thinking about it honestly.
In other words, you’re saying have a life don’t be too greedy! but in reality, I’ve picked nothing from this content!
🤘
Dave AND Coach?? we are blessed today
I personally want to keep building new construction / flips but get away from the rentals. I love building a beautiful product to give to an excited family
Great episode. Please look into the camera. Almost the whole time you were looking down.
$120,000 for a family is not really a comfortable living anymore, and finding anything that cash flows $1000, at least as of late, is quite rare. So having a larger "door count" is going to be almost a necessity. That being said a quality door count is a better metric.
Thanks for the comment. My $120,000 example with $1,000 of cash flow / property was assuming they were paid off. Yes, you'd need more (usually ~ 3x more) to have same amount of cash flow with conservative debt. I give more examples like that in the book.
Depending on where you live 120k is good…larger door count is a headache…especially apartments…single family is definitely where it’s at…they don’t bother me at all…My 8 unit apartment it’s always something.
Can’t listen to someone who tells people to call him coach 😂😂😂
You brought on Coach Carson, you ran me off of bigger pockets because I was not the next. David Green and Coach Carson welcomed me in just like one rental at a time and many others and oh yeah they didn’t try to sell me a bunch of shit.
So which is it? You need to be 17-year-old phenom and own half the country in apartment housing or just a few rentals make up your mind. Bigger pockets you lost my viewership. I’ve moved on.
I am from Peru! So nice to hear that is on top of his list🎉🎉🎉 that comes hand in hand with his investment philosophy🎉