Retire Early With Real Estate: How Smart Investing Can Help You Escape the 9-5 Grind and Do More of What Matters
Retire Early With Real Estate: How Smart Investing Can Help You Escape the 9-5 Grind and Do More of What Matters
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Overview
Fans of The 4-Hour Workweek will love these tried-and-true real estate strategies to help you escape the 9-to-5 work grind, retire early, and do more with your life!
Are you stuck in the rut of a 9-to-5 job? Would you like to do more with your life than just work to pay the bills? Consider this your comprehensive guide to achieve financial freedom using real estate!
Retire Early With Real Estate provides practical methods to quickly and safely build wealth using the time-tested vehicle of real estate rentals. Experienced real estate investor and early retiree, Chad Carson, shares the investment strategies that he used to create enough passive income to retire at 37 years old.
Packed with specific strategies, tips, and techniques, this book will help you forge a new path toward your retirement. Learn from more than twenty real estate investors and early retirees profiled in this book—retiring early is possible with a step-by-step strategy at hand! Whether you’re brand new or already investing, you can apply these lessons to retire early and live the life you want.
Inside, you’ll discover:
Product Details
| ISBN-13: | 9781947200029 |
|---|---|
| Publisher: | BiggerPockets Publishing |
| Publication date: | 09/13/2018 |
| Series: | Financial Freedom , #2 |
| Sold by: | Barnes & Noble |
| Format: | eBook |
| Sales rank: | 543,497 |
| File size: | 6 MB |
About the Author
Table of Contents
Table of ContentsBEGINNINGS:
- Introduction
My Motivation to Retire Early Using Real Estate
Put Money in Its Place
- The Money-Life Manifesto: Do What Matters
The True Cost of Living
A Life That Matters (My Definition)
iii. My Story - A Sprint Up the Real Estate Mountain
- Why Massive Real Estate Empires Aren’t Always Better
Real Estate Sweet Spots
A Place Called Enough
- How to Read This Book
Part 1: Why Real Estate Investing?
Real Estate Investing is an I.D.E.A.L.Vehicle For Early Retirement
Chapter 1: Why Real Estate Is the I.D.E.A.L. Investment
Income
Depreciation
Equity
Appreciation
Leverage
Chapter 2: Four Reasons Early Retirees Should Invest in Real Estate
Control
Timing
Tax Benefits
Simple & Understandable (Like Buffett Recommends)
Part 2: A Map of the Financial Mountain
Destination Early Retirement (aka Financial Independence)
Chapter 3: Getting Clear On Your Retirement Destination
Is Retirement the Right Word?
A Clear View of Financial Independence
Your Financial Independence Number
Chapter 4: How Much Wealth Do You Need to Retire Using Real Estate?
No Real Estate Retirement Calculators Needed
7 Debt-Free Properties & a Comfortable Early Retirement
Living Beautifully on $58,000 Per Year
Chapter 5: But Don’t Wait On Happiness - Enjoy the Peak AND the Plateaus
Plateau #1 - Self-Sufficiency
Plateau #2 - Mini-Retirement
Plateau #3 - Semi-Retirement
Plateau #4 - Early Retirement
Plateau #5 - Traditional Retirement
Part 3 - Preparations For The Climb
The Fundamentals of Building Wealth
Chapter 6: The Story of the Savings Gap
How to Become Rich
Chapter 7: Simple Math = Shorter Path to Financial Independence
Chapter 8: Why You Should Cut the Big Expenses
You Can Afford Anything, But Not Everything
Chapter 9: The 5 Wealth Stages - What’s Yours?
- Survival
- Stability
- Saver
- Growth
- Income
Part 4 - The Climb
The Ultimate Real Estate Wealth Building Plans
Chapter 10: The House Hacking Plan
Benefits of House Hacking
My First House Hack - Merry Christmas to You
The Fourplex Results After Some TLC (Tend Love & Care)
The Next Steps After Your First House Hack
Chapter 11: The Live-In-Then-Rent Plan
Example of the Live-In-Then-Rent Plan
Next Steps For the Live-In-Then-Rent Plan
Chapter 12: The Live-In-Flip Plan
Example of the Live-In-Then-Flip Plan
Next Steps For the Live-In Flip Plan
Chapter 13: The BRRRR Plan
Example of the BRRRR Plan
Chapter 14: The Rental Debt Snowball Plan
Example of the Rental Debt Snowball Plan
The Amazing Momentum of a Debt Snowball
The Benefits of a Debt Snowball
Chapter 15: The All Cash Rental Plan
An Example of the All-Cash Plan
The Overall Results of the All-Cash Plan
Objections to the All-Cash Plan
Chapter 16: The Long-Term Hold Plan
Example of Long-Term Hold Plan
Results of The Long-Term Hold Example
End Strategies For The Long-Term Hold Example
Chapter 17: The Short-Term Hold Plan
Short-Term Hold Example - Buy 3, Sell 2, Keep 1
Chapter 18: The Trade-Up Plan (Compounding Wealth Tax-Free)
Example of The Trade-Up Plan
Final Thoughts on the Trade-Up Plan
Chapter 19: The Private Note Plan
The Benefits of Private Notes
The Two Primary Types of Private Note Investing
Private Money Lending
Example of Private Money Lending to Grow Wealth
Discounted Note Investing
Example of Discounted Note Investing To Grow Wealth
Challenges and Reality Checks With Private Note Investing
Chapter 20: The Retirement Account Plan
The Types of Retirement Accounts
The Power of Tax-Free Compounding
My Approach - Pre-60 and Post-60 Retirement Plans
The Best Investments Inside a Retirement Account
Chapter 21: How to Mix & Match Plans For Synergistic Results
Sequential Combination of Wealth Building Plans
Parallel Combination of Wealth Building Plans
Don’t Overthink, Just Go Build Some Wealth
Part 5 - The Peak
Strategies to Create an Unending Supply of Retirement Income
Chapter 22: A Retirement Plan That Works
The Retirement Withdrawal Phase
The 4% Rule & Traditional Retirement Planning
A More Conservative Approach (Don’t Touch The Principal)
Build An Income Floor, Then Invest For the Upside
The Cost of Living in Retirement
Chapter 23: How to Build a Retirement Income Floor Around Real Estate
The Most Conservative Approach to a Real Estate Income Floor
Case Study of an Income Floor With 7 Free & Clear Houses
Building an Income Floor With Private Notes
Case Study of Private Notes as an Income Floor
Chapter 24: Strategies to Invest For the Upside in Retirement
Rental Properties As Upside Investments
A Short-Term Rental Ladder For Favorable Capital Gains Income
Real Estate Options For Low-Risk Leverage
Real Estate Limited Partnerships
Chapter 25: How and When to Access Your Retirement Accounts
General Retirement Account Challenges and Strategies
Roth IRA Conversions (aka a Backdoor Roth IRA)
Roth IRA Conversion Case Study: 45-Year-Old Early Retirees
How to Access Retirement Funds Early (If Necessary)
Chapter 26: How to Have True Security in Retirement
Invest in Your Greatest Asset (You!)
Be Flexible in Retirement
Expense Lifeboats
Income Lifeboats
Decision-Making Lifeboats
A Life Without Absolute Security
Part 6: The Vehicle of Real Estate
How to Pick The Right Market, Run The Numbers, & Find Good Deals
Chapter 27: How to Pick the Right Market For Your Investment Properties
Big Scale (Macro) Location Criteria
Small Scale (Micro) Location Criteria
Chapter 28: Riches are in Niches
Property Niches
Seller Niches
Rental Niches
How to Find YOUR Niche
Chapter 29: How to Run the Numbers - Back-of-the-Envelope Analysis
The Financial Snapshot - Income and Equity
Income - Financial Snapshot Calculation #1
Equity - Financial Snapshot Calculation #2
Putting it All Together – The Entire Back-of-The-Envelope Process
Chapter 30: How to Find Good Investment Property Deals
Target Property Profile - How to Identify Your Ideal Property
It’s a Numbers Game - Don’t Give Up Too Early
Lead Generation Strategies to Find More Opportunities
Make Offers - Don’t Be Afraid to Ask
Be Prepared to Close
Part 7: The Real Estate Retirement Challenge
Your Next Steps to a Retire Early Using Real Estate
Chapter 31: The 7-Step Real Estate Early Retirement Challenge
The Next Step is the Most Important
- Get Clear on Your Why (What Matters?)
- Calculate Your Financial Independence & Retirement Income Numbers
- Determine Your Wealth Stage
- Pick a Real Estate Wealth Building or Retirement Income Plan
- Create a Target Property Profile
- Create a Plan to Find Good Deals
- Get Ready to Close
Chapter 32: Final thoughts
Appendix:
Appendix A: Profiles of Real Estate Early Retirees
Paula Pant - FI at age 31 to 35
Craig & Jane Horton - FI at age 51 to 60
Sam Dogen - FI at age 31 to 35
Felisa Savage - FI at age 41 to 45
Matt in San Diego - FI at age 36 to 40
Richard Carey - FI at age 41 to 45
Eric Bowlin - FI at age 26 to 30
Douglas Orr - FI at age 26 to 30
Ricky Cameron - FI at age 46 to 50
Dave Boroughes - FI at age 36 to 40
Graham Stephan - FI at age 26 to 30
Liz Schaper - FI at age 41 to 45
Mauricio Rubio - FI at age 41 to 50
Brandon Turner - FI at age 26 to 30
Joe Olson - FI at age 26 to 30
Seth Williams - FI at age 31 to 35
Elizabeth Colegrove (still in process)
Doug and Traci Burke (still in process)
Kat Horn (still in process)
Elizabeth Willard Thames (still in process)
Clayton Morris (still in process)
Appendix B: Survey Results from 844 Real Estate Investors - “How You Use Real Estate to Retire Early”
What People are Saying About This
“In Retire Early With Real Estate Chad not only takes you thru the process of using real estate investing to achieve your financial goals, he shows you several paths, how to combine them to suit your needs and, perhaps most critically, how to enjoy the journey along the way.”
—JL Collins, bestselling author of The Simple Path to Wealth
“In the sometimes murky world of real estate there is no one that we trust more than Chad Carson and this resource he has put together is nothing less than a roadmap to real estate success. Chad shares with painstaking detail how you can build a comprehensive real estate portfolio. It simply works. The remaining question is will you take action?”
—Jonathan Mendonsa & Brad Barrett, Founders of ChooseFI.com & the ChooseFI Podcast
“Clear, actionable, easy-to-understand guide to real estate investing, with fascinating case studies of ordinary people who have reached financial independence at an early age.”
—Paula Pant, Founder of AffordAnything.com and the Afford Anything Podcast
“Real estate investing has always been a mystery to me. It's daunting, confusing. This book shines a light in the darkness. Chad Carson carefully explains not only different approaches to building a real-estate empire, but also how to use that empire to achieve your financial goals. If you're at all curious about getting started with real estate, this book is a must-read.”
—JD Roth, founder of GetRichSlowly.com
“One of my biggest financial regrets is that I didn't get started in real estate investing sooner. But I didn't find my mentor until later in life. With this book, Coach Carson becomes a mentor to his readers and gives them the wisdom, tips, and practical advice needed to succeed as a real estate investor. In particular, his ‘5-Step Real Estate Early Retirement Plan’ is pure gold, a great overview and guide for anyone wanting to retire early with the help of real estate.”
—John, Founder of ESIMoney.com
“Chad is an excellent teacher and thought leader in the real estate investing space. He knows how to explain new concepts and ideas in a way that is easy to understand and implement. If you're looking to expand your horizons and greatly enrich your financial future, Chad is someone worth paying attention to.”
—Seth Williams, Founder of RETipster.com
“Chad is one of the most passionate and genuinely nice people I have ever met in the real estate space. I deeply admire the lifestyle he's set up for himself and his family through his strategies, and I urge you to soak up every last word of his! Financial freedom is possible through real estate!”
—J. Money, Founder of BudgetsAreSexy.com
“Most real estate books take a short-sighted approach to owning property and building a portfolio. Retire Early with Real Estate covers it all, and then some. From the ‘whys’ to the ‘hows’ to the ‘what-ifs’, you'll find everything you need to pursue your own financial independence in this in-depth resource. As an accidental landlord myself, you can bet I'll be using Chad's advice for years to come.”
—Phillip Taylor, CPA and founder of FinCon Expo and ptmoney.com
Interviews
The overarching metaphor I'm playing with is a mountain climb. Retirement (or early retirement) is the peak. And the meat of the book is how to plan and execute the climb.
Part 1 - Prepare reader for the climb to retirement using real estate (define the destination, teach real estate benefits and fundamentals) Part 2 - Show reader how to climb and the different potential routes (various real estate wealth building strategies). Part 3 - Show reader what to do at the top (how to use real estate income and equity to live in retirement). Part 4 - Share real-life profiles of investors who used real estate to retire (purposely sharing different ages, types, etc to catch as many readers as possible). Part 5 - Action Guide/Closing - to help reader compile and put into action what they just read.
While that's all the main focus of the book, a theme I weave throughout my writing is to succeed with money and real estate in order to do what matters in life. So, my own story and the profiles will emphasize the interesting stories behind the real estate, like my trip with my family to live in Ecuador and perhaps other ways people contribute to society and do interesting things because they have free time.The demographic that I've resonated a lot with when writing this content on BP and my own blog is the 25 - 45 crowd. A subdemo are the 50-somethings that are behind or anxious about retirement planning. Real estate is presented as an alternative and better way to retire than main stream strategies (volatile stocks/bonds, low interest CDs and annuities, etc).