Rental properties are passive ENOUGH!

Рет қаралды 4,170

Күн бұрын

⭐ Join Rental Property Mastery, my coaching & learning community:
www.coachcarson.com/RPM-YT
🎙️ Episode 297 - Learn how passive rental properties are compared to stocks/bonds, owning a business, or even a regular job. Remember, managing 10 tenants is a whole lot easier than managing 10 employees.
📄 Show Notes: coachcarson.com/passive-enough
🎬 Timestamps:
0:00 - Common objections
2:58 - Job vs. Rentals
8:49 - Earn $120K/yr working 2hrs/week?
10:21 - Biggest rental risks
13:39 - Businesses vs. Rentals
19:00 - Stocks vs. Rentals
20:45 - More passive = less control
25:25 - Which fork will you take?
28:49 - Sneak preview
🔗 Show Links:
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Пікірлер: 41

@fostjusk Жыл бұрын

I spend 2 hours a week on a 50+ unit portfolio that sustains our family. I don’t take leaky toilet phone calls, but I am involved in the property and asset management at an owner level. I self manage at 4% of gross rent and since I’ve taken on 10 other easy to manage properties to add to my business, I’ve offset this cost entirely. At 35 and a starter of a few businesses, the nominal return from rentals and net worth impact far surpass my entrepreneurial efforts and previous corporate career. Thanks Coach for helping me take the leap!

@CoachChadCarson Жыл бұрын

You're a fantastic example of how to build and systemitize your rental business Justin! I'm proud of what you've done. Thanks for sharing.

@CurtBagne Жыл бұрын

On point. People just assume I’m slammed with chores when they find out I have 27 units but it couldn’t be further from the truth. Getting a place fixed up and running right with good tenants does take some work, but once it reaches that point, not a lot of residual effort is required. Most issues can be fixed with a phone call.

@CoachChadCarson Жыл бұрын

Agreed! Thanks for sharing. There is a big gap between perception and reality on the topic of time required to own stabalized rentals.

@shsu7426 Жыл бұрын

Thank you, Coach! I’m a musician and beginner in becoming a landlord. Could you please advice on how to do book-keeping and what accounting ¿software for someone with one LTR, one STR and a piano studio (small business)? Thanks very much!

@CoachChadCarson Жыл бұрын

@@shsu7426 What a wonderful combo with music + real estate! I have used Quickbooks for 21 years and think it's the best option for real estate bookkeeping. With that said, for a very small portfolio I've also used spreadsheets (Google Sheets). For your musician business, you could use a free bookkeeping software like Wave Accounting (what I use for Coach Carson). I'll be doing a class on real estate bookkeeping in the future. Stay tuned!

@albinothug Жыл бұрын

Probably the best RE video ever made 👏🔥

@muhammaddaniyalisrar3879 11 ай бұрын

Excellent Advice and very knowledgeable videos! Keep it going! 😊

@CoachChadCarson 11 ай бұрын

Thank you for watching!

@billkellett311 Жыл бұрын

Awesome info Chad!! I’ve got 20 units with no debt, self manage long distance. Having a great team on the ground is the key. I spend 5 hours a week and love it!

@CoachChadCarson Жыл бұрын

Thanks for sharing! 5 hours per week, self managed long distance is fantastic!

@paulm8588 Жыл бұрын

I’m trying to accumulate but it’s so dam expensive in New York. Currently have one but looking to expand any info on other states ?

@dawsonhall5170 Жыл бұрын

Thanks for the videos Chad. I closed on my first home (condo) in March and I'm hoping to turn it into a rental property in June of 2024. I plan on using my company to provide housing for our long-term interns. Couldn't have done a lot of this without the wisdom you've provided.

@CoachChadCarson Жыл бұрын

Congrats on the condo! That first purchase is HUGE. You'll learn so much. Thanks for the kind feedback and best of luck with your next steps

@gonoenriquez26.2 Жыл бұрын

Right on the nail! I own a restaurant and takes me 60+ hours a week plus the stress that comes with it its insane 😊

@CoachChadCarson Жыл бұрын

Yeah - much more passive in your case! And having a restaurant business and investing profits into real estate is a classic strategy. Also something that McDonalds and Chickfila do profitably on big scale!

@Boris5Z Жыл бұрын

I agree. I have 6 rentals and get calls from tenants maybe once in 2-3 months. Some tenants never contact me. I do all mainainabce myself. Worst part of being a landlord is sending a rent increase letter. Had to replace a capacitor in the AC unit this summer and yes, unclog that dreaded toilet. So what? I feel proud for providing setvice to my tenants and they feel it. Plus, I enjoy fixing stuff and take pleasure doing it. Never had s problem with them paying rent. In my day job i am a teacher. I am at about 2.8k net monthly from my rentals which equates to about 50% of my teachers salary.

@davidr4523 Жыл бұрын

As a real estate investor with a large portfolio, real estate is rarely passive since you are almost always engaged in one of the following real estate activities 1. Acquiring new property 2. Selling or leasing property 3. Rehabbing or constructing 4. Maintenance on property 5. Building your real estate team. If you really want to have a passive real estate business as a investor, you need to 1. Purchase newer or updated properties. 2. Purchase A or B level properties 3. Purchase properties fully rented 4. Automate your business from rent collection to maintenance request 5. Have a strong real estate team you can trust.

@CoachChadCarson Жыл бұрын

Thanks for sharing. I agree with most of those. I've saved a lot of time because I'm NOT buying, selling, or rehabbing a lot - #1, #2, #3 on your list. A stable buy and hold portfolio that doesn't change much (maybe only 1 or 2 properties per year) is very passive.

@mikekroupa Жыл бұрын

Great video. Looking forward to the book. Do you know if the book will be offered in a Kindle format?

@CoachChadCarson Жыл бұрын

Thanks! Yes - Kindle, Audible will be available August 22. BiggerPockets will also have an audio version of book as well

@Hawk2phreak Жыл бұрын

I really appreciate your perspective on real estate investing and I don't see many people showing that smaller might be better but I couldn't agree more. I purchased my first rental with the goal of creating an empire but after several years of managing a large portfolio for a very successful family and seeing how much work it is, I realized pretty quickly that smaller really would allow me to live the life I wanted without the added stress and work load of a large portfolio. If making money was my end goal I sill think a property empire is the way to go but freedom of time and having the means to do what is my goal in life. This is a random coincidence but my wife and I went to Spain a few years back and as we sat there watching the sun set over the hills of southern Spain we had this simultaneous moment where we turned to each other and decided right then that we were moving there in future.

@CoachChadCarson Жыл бұрын

Wow - lots in common, including the Spain experience! Thanks for sharing. I'm not surprised, but it's so wonderful to hear that there are so many small and mighty investors out there! Congrats on your success!

@pawelwisniewski6849 Жыл бұрын

Looks like you decided to be life manager and not big real estate manager Congrats

@zeekflash6924 Жыл бұрын

Coach , do you , acquire property from , sub-to ? Creative financing , a video would be nice

@CoachChadCarson Жыл бұрын

I used Subject to earlier in my career but not lately (mainly because I don't need to anymore). I have an order video on subjectto that is still relevant: kzfaq.info/get/bejne/r8p-ZpdylrzOcps.html but I need to make a new one

@anamukherjee7383 Жыл бұрын

Hey Coach, I am your subscriber, really like watching your channel. Can you suggest a good tax consultant in Las Vegas.

@CoachChadCarson Жыл бұрын

Thanks for subscribing! Unfortunately I don't have a good recommendation for you in Vegas for a tax consultant.. but you the CPA I interviewed in this video has a firm that works all over the country: kzfaq.info/get/bejne/d5h0ktNj2t-6YIU.html

@anamukherjee7383 Жыл бұрын

Thx so much. Looking forward to reading your new book.

@dfrank2044 Жыл бұрын

Buen contenido coach. Has considerado invertir en España? Como ves el Real Estate allá, se puede invertir igualmente como en Estados Unidos? Gracias

@CoachChadCarson Жыл бұрын

Gracias! No tengo ganas de invertir afuera del EEUU ahora. Yo entiendo el mercado, las leyes, y la cultura mejor que en España. Pero si hay buenas oportunidades. Tengo amigos que compraron casas. Este canal es bueno para estudiar como hacerlo en España: youtube.com/@Librealos30

@dfrank2044 Жыл бұрын

@@CoachChadCarson Gracias Coach, veo que has aprendido a hablar y escribir bien el Español. Felicidades

@faze_fresh1236 Жыл бұрын

Hello Coach, you don’t think that corporations and big gov will jack up insurance, taxes, utilities and eliminate write-offs in order to wipe out cash flow do you?

@CoachChadCarson Жыл бұрын

I think those costs will all increase. But as long as rental rates increase as much or more, cash flow will be fine.

@castlerc Жыл бұрын

22 years sold off a lot now just 8 rentals. All on the same street, so not hard. Will be paying off most in a month or two. 54 years old, empty nester. Buying a power cat a going to cruise the Bahama’s and Caribbean. 100k positive/year. I’ll never run out of money. Yes hard but worth it.

@CoachChadCarson Жыл бұрын

Thanks for sharing! And congrats on your hard work and success. It's amazing what's possible with a strong, small portfolio like that.

@zeekflash6924 Жыл бұрын

Think there’s a lot more competition, nowadays with KZfaq & mentorship’s .. 20 yrs ago , u couldn’t just go find a mentor , and people didn’t understand how real estate investing worked

@CoachChadCarson Жыл бұрын

@@zeekflash6924 When I started 21 years ago there were a lot of education and mentorship opportunities and people still knew about real estate investing. The education just happened at local in-person meetups, with CD courses, and on the radio. KZfaq is definitely great, but the fundamentals haven't changed.

@zeekflash6924 Жыл бұрын

@@CoachChadCarson Mentorship’s are , worth it .. guess it’s all about wher u are in your journey.. thaank u for your .. education, coach 😀