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BiggerPockets Real Estate Podcast

716: FIRE by 27 Using the "Chick-Fil-A Rule" of Real Estate w/Greg Cullen

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.816.5K Ratings

🗓️ 19 January 2023

⏱️ 71 minutes

🧾️ Download transcript

Summary

Financial independence is something that people spend decades trying to achieve. For the average American worker, this can be a slow grind, saving a few hundred dollars a month, hoping to be financially free at sixty-five so they can finally enjoy retirement. The problem? You spent three or four decades at a job, waiting to do what you want. If you’re going to crack the code to financial freedom, retire early, and live and work on your terms, you might want to follow Greg Cullen’s strategy. Greg has been hustling since he was a teenager. He was bringing in a full-time salary at age sixteen after building a sign-spinning business with over a dozen workers. He always knew the key to success was finding smart ways to make more money. So, when Greg was offered a full-time salary, he turned it down for a sales job with no cap on commissions, allowing him to save money at a far faster rate, and reach financial freedom well before the age of thirty. But Greg didn’t need some colossal empire of cash-flowing rentals. Instead, he’s financially free with only ten units, all of which he bought in under a decade. So how did someone like Greg, without real estate experience, scale his income up so fast? In this episode, you’ll learn what Greg did to purchase properties at lightning speed, the Chick-fil-A rule of real estate you should adopt, and how failing is the only successful way to hit financial freedom early. In This Episode We Cover: Why choosing a commission-based job, with uncapped earnings, beats a salary almost always Sign spinning and creative ways Greg made big money as a teenager The Chick-fil-A real estate rule that all investors should follow when picking a rental property market Common investing hurdles and how to deal with massive burnout when trying to make more money The laws of power that every entrepreneur, investor, or employee must know to level up What to do when real estate partnerships go wrong and turning a stressful situation into a killer deal And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch Listen to All Your Favorite BiggerPockets Podcasts in One Place Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area David's BiggerPockets Profile David's Instagram David’s YouTube Channel Rob's BiggerPockets Profile Rob's YouTube Rob's Instagram Rob's TikTok Rob's Twitter Hear Our Interview with “The 48 Laws of Power” Author, Robert Greene Books Mentioned in this Episode The Concise 48 Laws Of Power by Robert Greene Rich Dad Poor Dad by Robert Kiyosaki Connect with Greg: Greg's BiggerPockets Profile Greg's YouTube Greg's Instagram Greg's TikTok Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-716 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

This is the Bigger Pockets Podcast.

0:02.0

Show!

0:03.0

716!

0:05.0

I made plenty of mistakes with real estate too.

0:08.0

It could be with contractors, could be with partnerships,

0:11.0

could be with some properties too.

0:14.0

But the way that I always thought about it was

0:17.0

lean into the mistakes that you could potentially make.

0:20.0

Lean into the potential.

0:21.0

And if it doesn't work out, you can probably also just sell things

0:24.0

and make it work.

0:26.0

But it's gonna be okay.

0:28.0

That's honestly like what I've always told myself.

0:30.0

If something happens, just keep moving forward.

0:33.0

What's up everybody?

0:34.0

This is David Green and that is my partner Rob Abasolo

0:36.0

spaszing out if you're watching on YouTube

0:38.0

as he tries to mimic my smooth movements

0:41.0

of showing the show number.

0:42.0

Your smoothments.

0:43.0

The smoothments.

0:44.0

Man, that's why we have you.

...

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