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Real Estate Investing with Coach Carson

#338: Should I pay down debt or buy more rentals?

Real Estate Investing with Coach Carson

Chad Carson

Business, Investing

4.9613 Ratings

🗓️ 8 April 2024

⏱️ 17 minutes

🧾️ Download transcript

Summary

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

https://www.coachcarson.com/rpm

🎙️ Episode #338 – The age-old question of: should you keep acquiring properties or shift gears to pay down existing debt? Coach and Erion talk you through the nuances of this decision, exploring key milestones, income goals, and lifestyle considerations to help you navigate your unique path to financial freedom.

📑 Show Notes:

https://www.coachcarson.com/paydownorbuymore/

🔗 Connect with Erion

🎬 Timestamps:

00:00 - Buy a New Property or Pay Down Debt?

00:18 - Join my exclusive community

00:50 - When to Start Paying Off Debt?

03:35 - Real Estate as a Source of Income

04:53 - When to Focus on Income

05:37 - Maximizing Return vs. Income

09:12 - Investing to Achieve Financial Goals

12:12 - The Importance of Long-Term Thinking

12:36 - Setting Investment Income Goals

16:17 - How to Connect with Us

16:34 - How to Pay Off Rental Property Debt Quickly

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

🖥️ Learn with Coach (Courses, Books & more):

https://www.CoachCarson.com 

👋 Connect with Me:

📸 https://www.instagram.com/coachchadcarson 

👍 https://www.facebook.com/coachchadcarson 

🐦 https://twitter.com/CoachChadCarson 

💰 DealMachine – Software to help you buy more real estate deals:  https://www.coachcarson.com/dealmachine 

Transcript

Click on a timestamp to play from that location

0:00.0

So you saved up some cash as a rental investor.

0:02.0

Maybe it's 50,000 bucks, maybe it's 100,000 bucks.

0:04.6

But now you're trying to decide, should you take that money and buy a new property,

0:08.4

or should you use that money to pay down debt on your existing rentals?

0:12.1

That's the question we're going to tackle in today's episode of Ask Coach,

0:14.8

and we're getting started right now. Today's question comes from Aaron Amin, a member of my private coaching community called Rental Property Mastery.

0:30.3

If you haven't heard of Rental Property Mastery, it's the place where I coach and help small

0:34.0

and mighty real estate investors to buy more properties, to raise more funds,

0:37.9

and to turn their rental properties into passive investments so they can achieve financial freedom.

0:42.7

You can check it out or join at the link below in the podcast and YouTube description.

0:46.6

To help me discuss this question, I brought on my friend and one of the smartest real estate

0:50.1

investors and professionals I know, Arian Shi Hai. He's from Houston, Texas, and he's also known

0:55.2

as the investing architect. Now, let's go to our conversation. I want to ask you, and let's have a

1:00.7

discussion here about when is it the right time to start paying off some of your debt on your

1:06.2

rental properties, and when is it time to just keep buying more? That's a great question. But I just want to

1:12.7

make a clarification first that this question is only useful in the context of an investor's

1:18.3

individual journey towards financial freedom. So I have no interest in discussing the debate

1:23.6

between like people who are leveraged maximalists, like they just want, you know, you should

1:27.5

always be leveraged for the rest of your life and the Dave Ramsey people that you should never

1:31.3

have any debt like that debate to me. It's, it's never going to be resolved and it doesn't lead to

1:36.1

anything worthwhile anyway. But I think within within the context of a person's journey or

1:42.2

investors journey, I think there are some critical times when

...

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