489: Construct Your Ideal Life, Enjoy the Fun Game of Entrepreneurship, House Hack and Master Real Estate to Build Long-Term Wealth with Coach Chad Carson

Chad Carson began real estate investing from scratch right out of college in 2003 at the age of 23. Since then, Chad and his business partner have bought, flipped, rented hundreds of properties in and around Clemson, SC. They currently focus on buy-and-hold rentals and private lending that produce regular monthly income.

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Chad focuses on using real estate income to retire early and do what matters. For example, in 2017 he traveled with his wife and two young daughters to live in Ecuador in South America for a year. He also enjoys working on local community projects like pedestrian/bike paths.

He talks with us today about house hacking and practice buying -- and has a very doable strategy that involves you investigating 100 properties in your area within a short period of time to learn by doing.

Quotes:                                                                                                                                   

“Real estate is a market-driven business. There is no U.S. real estate market—there's a San Francisco neighborhood market.” – Chad Carson

“The basics of real estate are: you're either going to try to buy low and sell high, or you're going to try to buy a property that has a really good ratio of rent to the price you pay for it.” – Chad Carson

“If you love the game, and if you love the process and just the doing of it, then I think you're going to stick with it.” – Chad Carson

Takeaways:

04:40 Understanding the nuances of a local real estate market, down to the street level, is key to making informed investment decisions.

14:14 Cold calling and researching 100 properties helps build confidence and uncover potential investment opportunities.

21:29 Real estate investing offers multiple entry points, from house hacking with low down payments to partnering with experienced investors.

25:42 Money for real estate investments is abundant if you can find and structure good deals.

28:26 Successful real estate investing requires loving the process and being willing to weather challenges.

Resources

Podcast: Play in new window | Download (Duration: 30:00 — 27.5MB) | Embed

Subscribe: Apple Podcasts | Spotify | Amazon Music | iHeartRadio | Podchaser | RSS

Filed in: Archive 2: 2017 • Interview • Making Money • Podcast • Real Estate

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