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Afford Anything | Make Smart Money Choices

Ask Paula - How Do I Hire an All-Star Rental Property Team?

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Investing, Business

4.73.6K Ratings

🗓️ 28 August 2017

⏱️ 37 minutes

🧾️ Download transcript

Summary

#92: If you're interested in real estate investing, and if you've wondered how to assemble an all-star team, today's episode is for you. I'm hosting another edition of Ask Paula, in which I tackle three audience-submitted questions about building a team as a real estate investor. Salome from Cincinnati asks: Who are the people I'll need on my real estate team? How much will I spend in paying them? And how can I find them? Doug from Louisiana asks: I've saved $20,000 as the downpayment on a rental property. Should I use this money? Or should I look for a loan that can cover a larger chunk of the financing? Also, how should I look for a tenant? Should I handle this myself, or hire a property manager? Patricia from California asks: I live in Bay Area. I cannot buy a house here. I want to buy a rental property in Baton Rouge, Louisiana, and I've identified the specific property/neighborhood in which I want to invest. How can I start assembling a team from out-of-state? For a full list of resources from this episode, visit http://affordanything.com/episode92 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

You can afford absolutely everything you want all the time, just kidding.

0:12.4

You can afford anything, but not everything.

0:15.5

Every decision that you make is a trade-off against something else.

0:17.6

So if there's something that you really want, whether that's travel or an early retirement

0:21.5

or to send your kids to college, if there's something that drives you, you can afford it

0:26.3

even if you don't necessarily recognize that you can.

0:29.8

It's just that you can't afford everything.

0:32.6

So the question becomes, what decisions are we going to make, what's most important to

0:36.5

us, and how do we align our day-to-day actions with those decisions?

0:41.4

This is the Affordable Care Podcast, which is dedicated to finding the answers to those

0:44.9

questions.

0:45.9

And today, I am taking questions that you, the listeners, have sent in.

0:49.5

Now, I recently did a real estate episode, and I don't like to do too many of those

0:52.8

consecutively because this is, like, hashtag not a real estate show.

0:57.0

And when I want to emphasize a point, I put a hashtag around it for some reason.

1:02.8

But I've been getting a lot of real estate questions, and so, hey, that's what we're going

1:06.2

to talk about today.

1:08.0

And actually, I like these questions that I've been getting because they're kind of cool

1:11.0

because they, well, as you'll hear, they lead into ways to think like an investor.

1:18.3

So even for those of you who are listening who might not be interested in real estate,

1:22.5

hopefully, what you get out of this show, out of today's episode, are ways of thinking

1:27.6

about a problem or ways of addressing or solving a problem.

...

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