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Get Rich Education

332: Financial Freedom With Four Single-Family Homes

Get Rich Education

Keith Weinhold

Realestateinvesting, Income, Passiveincome, Money, Business, Wealth, Investing, Careers, Realestate, Kiyosaki, Real, Rich, Creatingwealth

4.3602 Ratings

🗓️ 15 February 2021

⏱️ 42 minutes

🧾️ Download transcript

Summary

Today’s guest reveals how he gets $10,755 of monthly cash flow with four SFHs. They’re long-term rental tenants.

Get our free newsletter here: www.getricheducation.com/letter

I tell you why a man with $20 million of debt is a financial winner, making analogies to Brett Favre and Cy Young.

Ryan Chaw of Sacramento, CA joins us. A full-time pharmacist, he’s age 29, on track to retire from real estate income by age 31.

Unusually, he invests in California single-family homes (SFHs). It’s not an area known for cash flow. 

He rents them to carefully-screened college students. He self-manages, but hasn’t visited his properties in over a year.

In areas like Stockton, CA, he gets $3,000 rent from a $300K SFH.

Ryan uses his “PRIME” Method: Placement of ads, Review applicants’ social media, Identify tenant type, Measure responsiveness, and Ensure proof of income.  

He has 17 tenants in four SFHs. 

Ryan gets money for down payments with his W-2 job. He also uses a HELOC to reset his leverage and create arbitrage.

He travels the world too. He won’t delay all gratification.

Resources mentioned:

Show Notes:

www.GetRichEducation.com/332

Ryan Chaw’s free guide:

www.NewbieRealEstateInvesting.com

Mortgage Loans:

RidgeLendingGroup.com

New Construction Turnkey Property:

CashFlowAndGrowth.com

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eQRP.co

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Transcript

Click on a timestamp to play from that location

0:00.0

Welcome to Get Rich Education. I'm your host Keith Winehold. Learn how to achieve financial freedom with as few as four single family homes and with long-term tenants. This tactic does not include the high maintenance of short-term rentals or conversions to an assisted living home, which is really like a business. This innovative technique even works in such an unlikely part of the nation. Also,

0:23.6

take a person that's $20 million in debt. Why is that person probably a financial winner today

0:30.0

on Get Rich Education? Hey, is your IRA in a real estate syndication? Yikes, a 37% Ubit tax could hit you, but you still have a chance to set up your EQRP and avoid this.

0:43.7

Did you make too much money in 2020 and need more deductions? Now federal law lets you set up an EQRP in 2021 and get deductions for last year. Yeah, retroactively.

0:54.6

Even put old IRA and 401K money in Bitcoin, gold, or your own business.

0:59.1

Get control of all of your retirement money, tax and penalty-free.

1:02.7

Text EQRP in all-capital letters to 72,000.

1:09.4

You're listening to the show that has created more financial freedom than nearly any show in the world. This is Get Rich Education. Thank you. Welcome to GRE from Tallahassee, Alaska, Alaska, and across 188 nations worldwide.

1:39.0

I'm Keith Weinhold.

1:40.3

This is GetRous Education back for the 332nd consecutive week here to help you build your wealth.

1:47.4

You know, being one of those, I guess, long-running shows here with a substantial listenership,

1:54.6

we attract all those best known names to come alongside me here on the show, Grant Cardone and Robert

2:00.5

Kiyosaki and so on.

2:02.3

But a while ago, I listened to your feedback. You told me that you love hearing from those

2:08.3

type of guests, because sure, that's great wisdom. But you also told me that it can be

2:12.6

difficult for everyone to relate to people with eight-fig nine figure net worse, and that it helps you

2:19.3

if I bring more of a get rich education listener like you onto the show, because that is more

2:25.4

relatable. And that's what we're doing here today. We're going to talk with a young investor that's

2:29.8

been doing real estate for about five years now. He works full-time as a pharmacist, and he has created

2:37.0

almost $11,000 in cash flow per month. So that's an extra 120 to 130K per year for him, and he's doing

2:46.0

it with just four single-family homes, and his properties are about a one hour drive from where he lives.

2:53.3

He self-manages.

...

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