293: How to Retire Early With Real Estate & Do What Matters More with Chad Carson

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 23 August 2018

⏱️ 74 minutes

🔗️ Recording | iTunes | RSS

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Summary

Have you ever thought about retiring early, traveling, and living your best life now? On today’s show, we interview Chad Carson, author of the new BiggerPockets Publishing book Retire Early With Real Estate. Today Chad shares how he and his partner were able to accumulate 90 units and live purely off the money generated by their portfolio! In this episode, learn how Chad got started and the steps he took to elevate his business and which strategies he used to make $120,000 on one flip! Chad’s story covers the gamut of flipping, wholesaling, buy-and-hold, and more. If you want to know what it looks like to retire early with real estate (including what you may be doing wrong right now, and how to change that), this is an episode you definitely want to download now! In This Episode We Cover: Chad’s strategies for retiring early through real estate If focusing on cash flow or equity is the smarter move How to control your budget If offense or defense is more important when it comes to building wealth How Chad made $120K in one flip How tax-lien strategies work — and what Chad did to capitalize on them Why “starter” investment homes aren’t always the best choice to stick with How to transition from wholesaling to other investment strategies How many hours you can expect to work each week once you’ve retired early with real estate How “the stack” can help you grow your portfolio fast and efficiently How house hacking can lead to an early retirement And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Webinar BiggerPockets Podcast 084: Getting Started with Creative Finance and Designing Your Ideal Lifestyle With Chad Carson BiggerPockets Podcast 141: 7 Ways to Find Incredible Real Estate Deals with Chad Carson BiggerPockets Store BiggerPockets Money Podcast The Shockingly Simple Math Behind Early Retirement – Mr. Money Mustache Books Mentioned in this Show Retire Early With Real Estate by Chad Carson 4-Hour Work Week by Timothy Ferriss Building Wealth One House at a Time by John Schaub Big Shifts Ahead by John Burns Wooden by John Wooden Fire Round Questions What is the best advice you got when you where first starting out or before you purchase your first investment? How long do you spend each day, working with real estate? Can you retire early with a few paid off rentals? Can I really retire early on 4 duplexes? Is house hacking to early retirement a viable strategy? Real estate or Roth IRA? How do you set your criteria for rental property investing? Tweetable Topics: “Our core skill as an investor is figuring the value of real estate.” (Tweet This!) Connect with Chad Chad’s BiggerPockets Profile Coach Carson Website Chad’s LinkedIn Profile Chad’s Facebook Profile Chad’s Instagram Profile Chad’s Twitter Profile Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Bigger Pockets Podcast, Show 2 93.
0:05.0	I didn't have a really good strategy starting off.
0:07.0	I just started buying this and I bought this little, in the south, we have these textile mills and
0:12.0	usually the most run-down areas in town and you have these
0:14.2	old 1920s houses millhouses and we bought those because they were cheap and they
0:18.6	look great and the numbers looked awesome on paper but we especially during the vacancy periods in 2008 and 9, we found out that like, not only do you have a lot of vacancies because we had a lot more turnover, we also had a lot of capital expenses on those old properties, and so we we're still I call these like my
0:33.7	bubble gum on the bottom of my shoe properties like I still have them like I I
0:37.3	can't I'm kind of pulling the properties off and trying to like throw them in the trash can
0:40.7	but like sometimes they like still stick on my my shoe and I keep pulling it off and so the issue of that is it's easier to make mistakes on
0:48.2	underestimating repairs when you and cash flow numbers up front. The other alternative which I was more successful
0:54.6	with this by chance was buying. You're listening to Bigger Pockets Radio,
0:59.6	simplifying real estate for investors large and small.
1:03.7	If you're here looking to learn about real estate investing
1:06.3	without all the hype, you're in the right place.
1:09.5	Stay tuned and be sure to join the millions of others
1:12.4	who have benefited from bigger pockets
1:14.4	dot com your home for real estate investing online what's going on everyone
1:19.2	this is Brandon Turner today's host of the biggerger Pockets podcast here with my barking
1:24.5	dog in the background did you hear that David oh yeah my dog's like going
1:27.2	crazy anyway here with my barking dog in the background Mr David Green
1:30.5	how you doing David that was funny.
1:34.0	I'm doing good man.
	...

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