#35: The Rental Debt Snowball Plan - How to Get Free and Clear Rental Properties
Real Estate Investing with Coach Carson
Chad Carson
4.9 • 613 Ratings
🗓️ 29 April 2019
⏱️ 34 minutes
🧾️ Download transcript
Summary
Episode #35 - The Rental Debt Snowball is a strategy to help you pay off mortgage debt faster so that you can own receive a steady stream of passive income using rental properties. This episode outlines how the Rental Debt Snowball Plan works, including an example with 3 rental houses that get paid off in under 13 years & produce $25,000 of yearly income.
For a companion article & show links visit: https://www.coachcarson.com/debt-snowball-plan/
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Transcript
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| 0:00.0 | Welcome to the Coach Carson podcast. |
| 0:10.4 | This is a show all about investing in real estate, achieving financial independence, |
| 0:15.2 | and doing more of what matters. |
| 0:17.5 | My name is Chad Carson. |
| 0:18.8 | You can also call me Coach Carson. |
| 0:22.2 | Really happy to have you here. |
| 0:28.5 | Today's show is really going to hit at the intersection of retiring early or achieving financial independence and real estate investing. So the main topic of this show, of course. And we're going to |
| 0:34.4 | talk about the rental debt snowball plan. So this is essentially a kind of a big |
| 0:40.4 | picture strategy or a tool that you can use in your building of wealth and real estate. |
| 0:46.4 | And it's specifically something you can use to get your properties free and clear of their |
| 0:51.4 | debt. You might have heard of a debt snowball or a debt avalanche. |
| 0:57.2 | There's lots of other terms for this, particularly like if you listen to Dave Ramsey or other |
| 1:00.8 | personal financial radio show hosts and people like that, they talk about getting your credit cards |
| 1:06.4 | paid off or getting your personal debts paid off using this exact tool. Well, the same tool can be applied to rental properties. |
| 1:13.6 | And so that's what we're going to dig into. |
| 1:15.4 | I'm going to show you an example and explain some of the benefits of doing that. |
| 1:19.7 | Before we get into the meat of the show, though, I want to start off and remind you of where |
| 1:23.9 | a lot of the action happens with the online world of Coach Carson, and it's at my |
| 1:29.2 | newsletter. So if you go to my website, Coach Carson.com forward slash newsletter. You can see that |
| 1:36.1 | there's a real estate investing toolkit that you get when you subscribe to my email newsletter |
| 1:40.0 | and it includes some practical things like my closing checklist that I use, a deal analysis sheet with all the formulas that I use and some other goodies that I think you'll find very helpful. |
| 1:50.8 | And you get that right when you subscribe. |
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