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Afford Anything | Make Smart Money Choices

Ask Paula: I'm 48 and Retiring Next Year. Should I Buy More Rentals?

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Investing, Business

4.73.6K Ratings

🗓️ 28 January 2019

⏱️ 74 minutes

🧾️ Download transcript

Summary

#174: Should a 48-year-old New Yorker who’s retiring next year buy more rental properties? Should a Michigan-based first-time homebuyer use an FHA loan to buy a duplex for $135,000 that rents for $1,800 per month? Should a 40-year-old music professor who owns a duplex transfer his property into an LLC? Should a New Jersey condo owner sell her unit as For Sale by Owner? And should a woman who’s anxious about owning her own rental properties dive into real estate crowdfunding deals instead? I answer these five rental property questions in today’s podcast episode. For more information, visit the show notes at https://affordanything.com/episode174 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

You can afford anything but not everything.

0:11.0

Every decision that you make is a trade-off against something else and that doesn't just

0:14.4

apply to your money.

0:15.6

It applies to your time, your focus, your energy, your attention.

0:19.3

It applies to anything in your life.

0:20.7

It's a scarce or limited resource.

0:23.2

And so the questions are twofold.

0:25.2

Number one, what matters most in your life?

0:28.2

Number two, how do you align your daily decisions in accordance?

0:33.6

Answering these two questions is a lifetime practice and that's what this podcast is here

0:37.5

to explore.

0:38.5

My name is Paula Pant and the host of the Afford Anything Podcast.

0:42.4

Every other week I answer questions that come from you, the audience, of the episodes

0:47.9

in which I answer questions.

0:50.5

Half of them are questions about anything related to personal finance or financial independence,

0:56.0

investing, productivity, self-improvement.

1:00.2

The other half are questions that are specifically about real estate investing.

1:05.3

This is that one in four episodes that's specific to real estate.

1:09.9

So if you're interested in the topic of real estate investing, keep listening.

1:13.2

But if you're not, don't worry, three out of four of our episodes have nothing to do

1:18.4

with real estate whatsoever.

1:20.4

So check out our archives, listen to the vast majority of any of our other episodes, because

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