820: The Late Starter’s Guide to Retirement with Real Estate (40s, 50s, or 60s!) w/Kim Woolf Bosler and Kyle Mast

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 19 September 2023

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

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Summary

Can you start real estate investing in your 40s, 50s, or 60s? We’re here to prove that it’s 100% possible, even if you have zero real estate experience or feel like you’re getting a “late start” to rental properties. You don’t need a lot to begin, and if you have some of the basics down, you can go from zero rental properties to twenty like today’s guest, Kim Woolf Bosler, who started her real estate portfolio at age fifty-six, with six children and twenty grandchildren! But before we get into Kim’s fast-paced property story, we’ll chat with Kyle Mast, the financially-free CFP (certified financial planner) who already achieved financial independence with the help of real estate investing. Kyle is here to help show that even if you don’t have millions of dollars in the bank or rental property experience, you can STILL invest, no matter your age. He’ll talk about where to pull money from, how to increase your income in retirement, home equity, and more! After some solid tips from Kyle, Kim will share her story of going from primary residence owner to building a portfolio of twenty properties in a VERY short amount of time. Now she has the flexibility to live every day as she chooses and use all her extra income to spend time with her BIG family! You can copy Kim’s exact strategy by tuning into today’s episode! In This Episode We Cover: How to start investing in real estate in your 40s, 50s, or 60s Using your retirement accounts (like 401(k)s) to buy your first rental property Scaling your passive income FAST with out-of-state investment properties Home equity lines of credit (HELOCs) and leveraging yours to invest 1031 exchanges and turning taxable gains into a tax-free “dream house” And So Much More! Links from the Show Find an Agent Find a Lender 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 Davids's BiggerPockets Profile David's Instagram A Personal Finance Masterclass with Kyle Mast The Late Starter’s Guide to Financial Independence (Even in Your 50s!) RealWealth Connect with Kim: Kim's Facebook Connect with Kyle: Kyle's Twitter/X Kyle's Website Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-820 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	I think I would encourage people to ask themselves if they're a quote late starter,
0:04.0	why are you transitioning to real estate? If you're someone who is like a go-getter, go for it.
0:08.4	And especially if you have kids watching you do this awesome transition into something new and
0:12.7	exciting when you're 50 or 55, what a great example to show them of how you can make a transition
0:18.4	and learn a new skill. It's never too late, it really isn't. I mean, there's
0:22.0	expression on a milk carton, right? But that's not us. I think we get better, we get wiser,
0:27.5	we have more fun in life, we enjoy things more because we're not so uptight. I like this stage
0:32.6	in life. I really enjoy that I started later. What's going on, everyone? This is David Green.
0:37.5	You are host of the Bigger Pockets Real Estate Podcast here today with Henry Washington
0:41.7	co-hosting the show with me. There are many people out there that think that they are too
0:45.7	old or it's too late to start investing in real estate. Well, today, Henry and I are going to do
0:50.4	our best to debunk that myth. Today's show is going to be a late starter's guide to real estate
0:55.5	investing. It's all about the belief that it's never too late, whether in your 40s or your 60s.
1:00.8	There may be some mental hurdles you have and this conversation should hopefully help you clear
1:04.8	some of those blocks and start taking action that you need to start building well to prepare
1:09.2	yourself a retirement now rather than waiting even longer. In today's episode, it's going to be a
1:13.0	little different because we have not only one but two interviews with different guests. The first
1:17.4	part of the show, we're going to speak with Kyle Mast. He's a certified financial planner and a
1:21.4	regular contributor to Bigger Pockets money. Kyle's going to fill us in on how people that are
1:25.5	starting late may have some advantages when it comes to investing in real estate. And in the
1:30.1	second half of the show, we interview Kim Basler, who started investing at 56. She'll tell us how
1:35.1	she was able to build such a strong portfolio that set her and her husband up for retirement
	...

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