Live Q&A with Paula on Real Estate and Travel

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Investing, Business

4.7 • 3.6K Ratings

🗓️ 28 November 2016

⏱️ 61 minutes

🔗️ Recording | iTunes | RSS

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Summary

#53: This episode is a little different. Instead of interviewing a guest, this podcast episode is a recording of a recent talk I gave in Equador. The audience wanted to know more about the context surrounding the decisions I've made regarding business, investing, and money. In other words, why I've only spent three years of my life in a 9-5 job, and why I've dedicated so much of my time to travel. There is a lot of real estate talk as I take Q&A from the audience, but the idea behind releasing this talk is for you to see how any investment can help you design your life around your values. Money and investments are just tools that you can use to craft a certain lifestyle. Here are some of the highlights from the talk: • How I was introduced to the concept of freelancing, and how it helped me quit my job and buy real estate • My real estate investing strategy in a nutshell - buy what no one else wants to buy • The risk of being too excessive with renovations as an investor, and how I've managed renovations • How I use the One Percent Rule when running numbers on a property • My original goal for owning rental properties (and why I don't want 100's of units) • The surprise deal that came about because of my blog • The opportunity cost of investing in real estate instead of the stock market • Why the next rental won't be in Vegas (where I live) • Why I'm not in any hurry to buy another property • Why I would buy apartment complexes in cash if I had a billion dollars • The benefit of diversifying into a different city and how to do it • Retailers I recommend buying from when it comes to kitchen materials • Financing without W2 income • Why I'm against high-leverage • The other projects I'm working on (why my focus isn't on real estate investing right now) • "Pearls of wisdom" from traveling • My favorite travel destinations • Why I started a blog and my thoughts on monetizing • Real estate isn't a passion - it's a tool Enjoy! -- Paula Resources Mentioned: • Cash Flow Reports for Rental Properties • The course I'm working on - VIP List • HUD Home Store __________________________ I also want to take a moment to thank the sponsors for this episode. First, huge thanks to Nerdwallet. Their new app lets you have one-on-one conversations with financial advisors. You can chat about anything related to money, such as retirement, investing, insurance, or paying off debt. You'll get personalized, one-on-one advice -- available at no cost to you. Check it out at no cost to you by visiting http://nerd.me/paula _________________________ If you've been listening for a while, you've heard me interview many best-selling authors. Before I interview these guests, I need to read or refresh my memory of their books. Sitting down to physically read the books can take a long time. That's why I listen to their audiobooks, thanks to my subscription to an audiobook service called Audible. If you want to give them a try for free, head to http://audible.com/trynow for a free 30-day trial. _________________________ To see the slides from Paula's presentation, go to https://affordanything.com/episode53 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.
0:11.3	And that's true, not just for your money, but also your time, energy, any scarce resource
0:16.9	in your life.
0:18.2	So how do you make decisions about how you're going to direct those limited resources?
0:23.8	What type of life are you going to create by the way that you interact with your money,
0:29.6	your time, your energy, your focus?
0:32.5	By the way that you make your choices, what life will you lay out?
0:36.9	My name is Paula Pan, host of the Affordable Care Podcast, where we tackle these questions.
0:43.2	Today's episode is a little different than usual.
0:47.0	Rather than interview a guest on today's show, I've decided to share with you a talk
0:51.7	that I recently gave.
0:53.8	Now as you're going to hear, this talk is fairly audience interactive.
0:58.4	I begin by asking them what they want me to speak about because a lot of times when I go
1:02.6	up in front of crowds, people want me to talk about real estate that tends to be where
1:06.5	the conversation goes.
1:08.3	It's not that I really want to talk about it necessarily.
1:10.8	It's just that that's what people seem to always ask me about.
1:14.0	This talk was special because a lot of people asked me to share my life story so that they
1:20.8	could understand the context of the choices that I've made about my own work, my nine to
1:25.9	five job.
1:26.9	I've only been in a nine to five job for three years in my entire life.
1:30.4	I talk about that a little bit.
	...

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