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Real Estate Investing with Coach Carson

#304 - How a Couple Retired to Portugal Using Rental Properties in the US

Real Estate Investing with Coach Carson

Chad Carson

Investing, Business

4.9 โ€ข 613 Ratings

๐Ÿ—“๏ธ 14 August 2023

โฑ๏ธ 69 minutes

๐Ÿงพ๏ธ Download transcript

Summary

Episode #304 โ€“ Karen and Bob are students of mine who are closer to the traditional retirement age. They demonstrate how it's never too late to get started in real estate investing, found a niche to be successful in, and now live a fulfilling life in Portugal!

๐Ÿ”— Show Notes:

https://www.coachcarson.com/retired-to-portugal/

๐Ÿ”— Chad's New Book:

https://biggerpockets.com/smallandmighty

๐ŸŽฌ Timestamps:

0:00 - Intro

3:52 - Why Portugal?

5:44 - Leaving corporate careers

13:05 - Investment philosophy

17:59 - Diversifying with real estate

21:46 - Strategy for flipping houses

25:36 - Tips for working with contractors

27:30 - Getting started with rental properties

32:05 - Flipping houses vs rentals

38:07 - Benefits of manufactured homes

43:20 - Using rentals to move abroad

48:16 - No debt properties

52:19 - What they would have done differently

55:17 - Tax considerations for retired lifestyle

59:54 - Starting with real estate later in life

1:02:33 - Time spent on rentals

1:05:44 - Summary and closing

--------------------------
โญ Join Rental Property Mastery, my community of rental investors on their way to financial freedom:

https://www.coachcarson.com/rpmย 

โš’๏ธ Get my FREE Real Estate Investor Toolkit:

https://www.coachcarson.com/toolkit-podย 

๐Ÿ–ฅ๏ธ Learn with Coach (Courses, Books & more):

https://www.CoachCarson.comย 

๐Ÿ‘‹ Connect with Me:

๐Ÿ“ธย https://www.instagram.com/coachchadcarson

๐Ÿ‘ย https://www.facebook.com/coachchadcarson

๐Ÿฆย https://twitter.com/CoachChadCarson

๐Ÿ’ฐ DealMachine โ€“ Software to help you buy more real estate deals:ย https://www.coachcarson.com/dealmachineย 

Transcript

Click on a timestamp to play from that location

0:00.0

Well, we're in Porto, Portugal, right on the Duro River, where all the port wine comes from.

0:05.6

It's a wonderful, friendly town.

0:08.9

We've made so many friends here.

0:10.9

It's really a blessing.

0:19.9

Welcome to the podcast Real Estate Investing with Coach Carson.

0:22.8

I'm your host, Chad Carson.

0:24.1

You can also call me coach.

0:25.3

And this is a show to help you get out of the financial grind so you can do more of what matters.

0:29.6

Whether a brand new listener or a long-time listener, thank you for being back for another episode.

0:34.0

The title of this episode is how a couple retired to Portugal using rental properties back in the U.S.

0:39.8

This is an interview with former students and friends of mine, Karen and Bob.

0:43.7

They're actually someone I feature prominently in Chapter 3 of the book, The Small and Mighty Real Estate Investor.

0:49.1

So in case you haven't heard, that book is available.

0:51.2

It's available on bigger pockets and soon to be available on Amazon and other retailers. I'll have a link to that in the podcast description and the show notes. If you haven't got it yet, this is a guide to how to be a small and mighty real estate investor without getting thousands of units. How do you buy a few properties? Maybe 10, maybe 20, and have the lifestyle you've always wanted, including what Karen and Bob have done, moving to Portugal. And this is a really fun story for a couple of reasons. Those of you who started later in life, whether that was 40 years old, 50, even in your 60s or 70s, and you started investing later and you thought it was too late to get started. Karen and Bob have been doing investing for seven years now. They're in their mid-60s.

1:31.0

And as I'll tell you in this interview, they made a big transition for more of a traditional working in 9 to 5 in Silicon Valley, making good income, but getting burnout and getting

1:35.3

tired of that and trying to transition into a more entrepreneurial way to make money.

1:40.2

We both had long-term corporate careers.

1:43.2

I don't think we're your typical investor, Chad,

1:45.5

that you have on your podcast for kind of your late start investors, right? And so our approach

1:52.5

and our motivations were quite different, but we're happy to be here to tell you it's never

1:58.2

too late to start. So they talked about how they leveraged some of their existing retirement accounts and their traditional investments and shifted some of those

2:04.8

into the real estate investing world. So since we couldn't really, you know, get easily

...

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