Envelope Overwhelm

ChooseFI | Financial Independence Podcast

Jonathan Mendonsa & Brad Barrett | Choose FI Media, Inc

Business, Investing, Careers

4.8 • 5.2K Ratings

🗓️ 30 August 2019

⏱️ 60 minutes

🔗️ Recording | iTunes | RSS

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Summary

Real estate looks easiest when you're not doing it — and scariest when you finally run the numbers. Brad and Jonathan tackle listener questions on cap rates, property decisions, and automating personal finances to the point where money management takes minutes, not hours. Key Topics: Understanding Real Estate Investment [00:01:00] Real estate as an investment vehicle, not speculation The math behind cap rates and how it informs rent vs. sell decisions Personal Finance on Autopilot [00:03:30] Streamlining finances through automation Minimizing time spent on money management Cap Rates Explained [00:33:50] Using cap rates to evaluate property investment profitability Framework for decision-making on rental properties Q&A with the Community [00:44:30] Listener questions on financial management and real estate investing Key Takeaways: Use cap rates as a framework to evaluate real estate investments effectively [00:34:47] Set up autopay systems for recurring expenses to streamline financial management [00:15:45] Regularly review and eliminate unnecessary fees to enhance financial health [00:16:46] Quotes: "Appreciation is speculation." [00:01:52] "Never rely on financing to justify a mediocre deal." [00:39:06] "To get ahead, simply start." [00:39:07] "Pay no unnecessary fees; be intentional." [00:15:45] Terminology: Cap Rate: The ratio of net operating income to property asset value, used to evaluate investment performance [00:35:03] PMI: Private Mortgage Insurance, required when a borrower puts down less than 20% for a mortgage [00:48:31] YNAB: You Need A Budget, a budgeting tool that helps users track expenses and plan financial goals [00:12:34] Action Items: Evaluate your current properties using the cap rate formula [00:35:00] Look into automating your financial transactions to simplify processes [00:15:00] Related Resources: CIT Savings Account [00:12:54] M1 Finance [00:12:54] Chapter Markers: [00:00:00] Introduction [00:01:00] Understanding Real Estate Investment [00:03:30] Personal Finance on Autopilot [00:33:50] Cap Rates Explained [00:44:30] Q&A with the Community [00:56:30] Conclusion

Transcript

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0:00.0	Welcome to the ultimate crowd sourced personal financial. This is your Friday Roundup.
0:06.0	You're listening to Choose Applied Radio.
0:10.0	The blueprint for financial independence lives here.
0:21.0	If you're looking to unlock the secrets to financial independence and early retirement,
0:26.0	you're in the right place.
0:28.0	Stay tuned and join a community of like-minded people who are getting off the answer.
0:33.0	And taking control of their lives in the pursuit of financial independence.
0:37.0	Choose FI, your home for financial independence online.
0:41.0	All right guys, welcome to the show. Today we're going to be doing a deep dive.
0:55.0	Maybe not. We're going to a superficial dive into our takeaways from this wonderful episode with Paul Apanne talking about building a framework
1:04.0	for starting to look at real estate. Not as a speculative Brad Barrett investment.
1:09.0	Sorry buddy, that one has a lot of legs. Not as the belly flop of financial investments,
1:14.0	but as a investment vehicle and so many people in our community have leveraged or used real estate to reach financial independence,
1:22.0	either as their main focus of the strategy or as a significant leg of the tripod that we wanted to go back to this
1:29.0	and really up our own skill sets to keep up so that we don't just wall off this and just focus on the other side,
1:34.0	but rather we can start to embrace really this important investment strategy as it fits our own lives.
1:40.0	Tell me with this, I have my co-host Brad here at the end of the day. How you doing buddy?
1:44.0	I am doing quite well Jonathan. I love how much you're enjoying beating me down here on my...
1:50.0	It's a two-h street.
1:52.0	Yeah, not two-h.
1:53.0	I do joke at you quite plenty, so I'm not too worried about it, but it's absolutely true.
1:57.0	And that's one thing Paul said. Appreciation is speculation. I thought that was a beautiful quote,
	...

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