Ask Paula: How to Make Smarter Real Estate Decisions

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Investing, Business

4.7 • 3.6K Ratings

🗓️ 4 October 2021

⏱️ 74 minutes

🔗️ Recording | iTunes | RSS

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Summary

#342: Russell is a busy professional who’d like to invest passively in real estate. Is there data he can use to compare this approach to owning and managing their own properties? Laura wants to purchase her first investment property in Miami. Should she cash out some RSUs and stock from her company to use as a down payment? And what type of mortgage is she eligible for since she already owns a home? Jordan and his wife own three properties and are under contract on a new house since they have a new baby on the way. Should he sell any of his existing properties to be in a stronger cash position, thus mitigating the risk of future fluctuations in his income as a real estate broker? Or should he keep his rental properties since his goal is to reach financial independence through rental income? Do you have a question on business, money, trade-offs, financial independence strategies, travel, or investing? Leave it here and we’ll answer them in a future episode. For more information, visit the show notes at https://affordanything.com/episode342 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Hey, big announcement before we get started.
0:03.0	Our course on rental property investing, called Your First Rental Property, is open for
0:08.4	enrollment now and will only be open for enrollment for the next 10 days.
0:13.6	For more details, go to affordanything.com slash enrol.
0:16.9	That's affordanything.com slash enrol.
0:19.9	If that said, onto our regularly scheduled program.
0:32.0	You can afford anything but not everything.
0:34.6	Every choice that you make is a trade-off against something else and that doesn't just
0:37.8	apply to your money.
0:39.1	That applies to any limited resource that you need to manage, like your time, your
0:43.1	energy, your focus, your attention.
0:46.2	Anything yes to something implicitly means saying no to all other opportunities and that
0:50.9	opens up two questions.
0:52.4	First, what matters most?
0:54.2	Second, how do you align your decision making around that which matters most?
0:59.6	Answering these two questions is a lifetime practice and that is what this podcast is here
1:03.5	to explore and facilitate.
1:05.4	My name is Paula Pan.
1:06.4	I am the host of the Affordanything podcast.
1:08.8	Every other episode we answer questions that come from you, the Affordanything Community.
1:13.2	From today, as with every one of these episodes, my buddy, former financial planner Joe Salcihi
1:19.6	joins me to answer these questions.
	...

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