Dude, when you're broke, buying rental properties is stupid. The most important thing you could do today is like fix your current situation. Start making some active income. Bigger pockets pushes a lot of this stuff. It's like, getting real estate investing. It's all about the passive income. Why would I want a rental property that makes $200 a month? Why wouldn't I just flip it and make $25,000? This makes no sense. I can build long-term wealth at any point. I think the perfect

example is if you buy a property, you improve the value and now you had a million dollars of equity,

you can sell this property and take a million dollar profit or this property would cash flow,

let's say, $50,000 a year and you can hold it long term. If I cash-led this thing, it would take

me 20 years of $50,000 a year in cash flow just to break even.

Bro, so dumb.

20 years a long time, man.

Well, let me add another point to this is I get a lot of people who ask me, what about my taxes?

I need to buy rentals to lower my taxes.

Like, you don't make money.

Why are you worried about your taxes? Welcome to The Rich Drummers Report where we talk real estate, business, and wealth building,

all while keeping it real.

No fluff, no BS.

I hope that you enjoy the show.

All right, guys, welcome to another episode of The Report.

Today, we are not in San diego but i am sitting in a

really nice podcast set here in los Vegas i just finished recording on his show i got my man ryan

paneda ryan welcome to the show happy to be here did yeah man uh pleasure to finally connect in person

i know we've been uh chatting uh on Instagram for about six months now. And

it's finally, it's good to connect in person, man. I got your tour, your office out here. And

dude, impressive setup you got, man. Yeah. There's a lot of stuff going on over here.

Yeah. Yeah. So with all your stuff going on, man, tell us what you've been up to today.

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