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Millionaires Unveiled

98: Net Worth of 1.8M - 52 Single Family Rentals, $67K Monthly Rental Income

Millionaires Unveiled

Jace Mattinson

Investing, Millionaire, Financialplanning, Business, Self-improvement, Education, Finance

4.8872 Ratings

🗓️ 9 September 2019

⏱️ 45 minutes

🧾️ Download transcript

Summary

Today's episode features Chris with a net worth of $1.8MM. Of the $1.8MM, 70% is invested in real estate. Together with his business partner, they own 52 single family rentals. He discusses all things real estate including his first deal, self managing all the homes, financing, due diligence, sending mailers, etc.. He collects about $67K monthly in rental income and nets about $11K monthly. Beyond real estate, he has 14% of his net worth in cash, and 16% in retirement accounts.

Transcript

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0:28.0

It was something that I really thought I could see alive at the end of the tunnel on a way to not necessarily retire early but become financially free at a young age because I you know my dad and my father-in-law both worked very successful careers where they worked at the same job for 30-plus years and I think they were happy but I just for me that was not something that I wanted to do so this I saw as a way to kind of control my own destiny and really do it in a way that I controlled most of the variables. You're listening to the Millionaires Unveiled Podcast, where you'll hear the stories and interviews of everyday

0:35.7

millionaires.

0:36.7

We'll unveil their decisions, their strategies, and their current portfolio allocation.

0:44.0

Now to your hosts, Clark Sheffield and Jace Matinson.

0:48.0

Alrighty, welcome back to another episode of the Millionaires Unveiled Podcast, where we tell the stories and strategies of everyday millionaires and unveil their current portfolio allocations.

0:58.6

This is episode number 98.

1:01.6

I was recently reminded of Thomas Stanley's quote from the

1:04.7

millionaire next door, before you can become a millionaire you must learn to

1:08.4

think like one. One of our goals is to share the thoughts of

1:11.6

millionaires and help each of us connect to someone

1:13.6

with whom we resonate.

1:15.1

So we're appreciated with those who are willing to share their stories with others.

1:18.3

If you're one of those who hasn't been on the show but would like to share your millionaire story

1:21.6

or if you're someone who's close to becoming

1:23.3

a millionaire please email us at millionaire's unveiled at gmail dot com and we'd love to

1:27.9

feature your story and investing insights on today's show we have Chris

1:31.9

he has a current net worth of 1.8 million, 70% of which is in real estate.

1:37.0

He and his investment partner have around 50 single family rentals all in Texas and in fact all within a short distance of each other.

1:44.0

We get into the nitty gritty with him on what he rents his houses for,

1:47.0

how much they cost, and how he's been able to grow his net worth.

1:51.0

Last week on the show we had Courtney. She's in her 30s and lives in

1:54.6

Canada with her wife and child. She has a net worth of about 1.2 million and is

...

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