306: Achieving FI with Fewer Doors: The Small and Mighty Real Estate Portfolio w/Chad Carson

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 22 July 2023

⏱️ 55 minutes

🔗️ Recording | iTunes | RSS

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Summary

Financial freedom with only a handful of rental properties!? So many real estate investors are convinced that amassing units is the key to bigger profits, but the truth is that a strategy involving fewer doors can be just as—if not more—effective. Today’s guest is an advocate for the “small and mighty” real estate portfolio that allows you to create passive income, pursue your passions, and achieve financial independence on your terms! Welcome back to another episode of the Real Estate Rookie podcast! Today, we’re sitting down with Chad “Coach” Carson to discuss his latest book, The Small and Mighty Real Estate Investor. Enjoying the flexibility that many rookie investors dream of, Chad and his family live abroad while his property managers handle the day-to-day operations of his rentals stateside—allowing him to spend very little time on his business each week. If you want to achieve financial freedom without becoming enslaved to your real estate business, this is an episode you won’t want to miss! Chad speaks on creating passive income through real estate, how to enjoy a two-hour workweek, and why accumulating more units shouldn’t be your end goal. He also talks about the three phases in every real estate journey and why the final phase is the key to unlocking your financial independence! Remember to pick up Chad’s new book and use code “SMALL306” at checkout! In This Episode We Cover How to build a small real estate portfolio that supports your financial goals The three important phases in every real estate journey Lean FI, fat FI, and why you should know both numbers before investing The people and systems you NEED to create passive income from your rentals Arriving at “enough” when scaling your real estate empire And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Become a (Small) Multifamily Millionaire in 7 Steps w/ Brian Murray and Brandon Turner Books Mentioned in the Show Retire Early with Real Estate by Chad Carson Get Your Copy of “The Small and Mighty Real Estate Investor” and Use Code "SMALL306" for 10% Off Connect with Chad: Chad's BiggerPockets Profile Coach Carson Podcast Chad's Instagram Chad's YouTube Check the full show notes here: https://www.biggerpockets.com/blog/rookie-306 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Real Estate Rookie Episode 36.
0:04.7	I think the common theme is mostly small multi-units, although I have 10 units, 12 unit buildings,
0:11.2	I think you can grow into that as well over time. But I think the common theme is figuring out,
0:16.8	and here's a definition that I didn't mention earlier of a small and mighty investor.
0:20.7	A small and mighty investor is someone who has the least number of properties possible
0:26.4	to still meet their goals.
0:27.8	My name is Ashley Care, and I am here with my co-host, Tony Robinson.
0:31.8	And welcome to the Real Estate Rookie Podcast, where every week, twice a week, we're bringing you
0:35.8	the inspiration, motivation, and stories you need to hear to kickstart your investing journey.
0:40.2	And while most episodes we talk specifically about Real Estate Investing,
0:44.7	today's episode is obviously about Real Estate, but we also talk a lot about mindset.
0:48.9	And I think we challenged some well-accepted notions in the world of Real Estate Investing
0:56.3	about building a big portfolio, and why everyone should be doing that.
0:59.5	We bring on Coach Chad Carson, who's an author in the Bigger Podcast ecosystem.
1:03.7	He has a new book, The Small and Mighty Real Estate Investor, and we bring him on to talk
1:07.4	all about what it means to be small and mighty.
1:09.7	And I think it really translates the conversation that we have about
1:16.0	keeping up with the Joneses, and not in sense of you guys want to go buy everything that's new
1:21.0	and flashy, but in a sense, you want to go and buy as many properties as another investor,
1:27.1	so that you can keep up and you can build this mighty and large portfolio.
1:33.9	So we talk about how Chad went into that kind of phase of like
1:39.6	growing, scaling, growing, and scaling, and realized, wait, why am I doing this again?
	...

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