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Afford Anything | Make Smart Money Choices

Ask Paula - The Real Estate Episode

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Investing, Business

4.73.6K Ratings

🗓️ 8 April 2019

⏱️ 75 minutes

🧾️ Download transcript

Summary

#187: Sarah needs $36,000 per year in rental income to reach FIRE (Financial Independence, Retire Early). She owns several rentals. When can she comfortably consider herself FIRE? AyV wants to rent out his primary residence. Should he renovate? Anonymous lives in a high-cost-of-living city, but she found a small city nearby with Class B and C+ multifamily properties. These properties need a little work. How can she estimate repair costs? Carly bought a property that underperformed the one percent rule. It’s appreciated in value. Should she sell? Erin is trying to decide if she should buy a $270,000 personal residence in northern Virginia, or a $50,000 rental property in Huntsville, Alabama. Nancy wants to buy rental properties from overseas, but she’s having a tough time finding real estate agents who take her seriously as a buyer. What should she do? I answer these six questions in today’s final Ask Paula - Real Estate episode. Enjoy! For more information, visit the show notes at https://affordanything.com/187  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.

0:10.8

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

0:13.6

apply to your money.

0:15.0

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

0:18.6

Anything in your life that's a limited resource, if you're directing it towards one thing,

0:22.1

you are not directing it to something else.

0:24.0

There's a trade-off always.

0:25.8

And so the questions become twofold.

0:27.6

Number one, what are your highest priorities?

0:30.7

Not what the society tell you that they should be, but what are actually the biggest priorities

0:35.6

in your life?

0:36.6

Where do you want to direct your time, money, attention, energy?

0:39.5

And number two, how do you change your life so that the decisions that you make on a daily

0:44.3

basis reflect that bigger vision?

0:48.0

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

0:51.2

to explore.

0:52.2

My name is Paula Pat and the host of the Affordable Care Foundation podcast.

0:55.5

And today is the final episode in which I will exclusively and only answer questions

1:03.4

about real estate investing.

1:04.6

Now to be clear, I will continue to answer questions about real estate investing in future

1:10.1

episodes.

1:11.1

Every other episode, I answer questions that come in from the audience.

...

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