Build Big Wealth One Rental at a Time - with Michael Zuber
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- Опубликовано: 3 авг 2024
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🎙️ Episode 295 - What makes a small and mighty real estate investor so powerful? Why does the gradual approach of acquiring 1 property at a time turn into a blue chip stock later on? Gain valuable insights on how many properties it takes to reshape your real estate investment unlock long-term success.
📄 Show Notes: www.coachcarson.com/michaelzu...
▶️ Next Video: One Rental at a Time with Michael Zuber
• One Rental at a Time w...
🎬 Timestamps:
0:00 - Intro
3:44 - The one rental at a time approach
8:13 - Bigger isn't always better
13:02 - What is the best financing and why
20:25 - What is the ideal buy box
24:38 - Transitioning to the next investing phase
33:18 - The state of the economy
43:41 - Being a buy and hold investor
48:20 - Using turn key rental companies
50:14 - Syndications
54:46 - Michael's advice on first 4 rentals
55:20 - How to connect with Michael
55:52 - Outro
🔗 Connect with Michael:
• Michael Zuber's RUclips:
/ @onerentalatatime
• Michael Zuber's Podcast:
podcasts.apple.com/us/podcast...
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Two legends in one video! This resonated with me. Back in 1998 my mentor sold me on single family houses. I was debating whether or not to go higher, and then i read John Schaub's book. 72 single family houses later, i haven't looked back.
Thank you! Wow. What a run! Congrats.
Thank you so much
I just put my biggest rental property on the market. I'm looking to go from 6 to 5 properties. The hassle factor is the main thing and if it sells for what I want I plan to turn my STRs in LTRs and spend 2 years traveling full time.
Great episode, Chad! There are definitely different schools of thought on the best way to go. The two most important considerations in my opinion are: (1) the individual investor’s personal situation (amount of time they have to invest, family obligations, resources, skills, etc.) and (2) the market they want to invest in (some markets are great for small multi family, some are better for 5+ unit buildings, and others for single family rentals, commercial properties, etc.). Personally, I wanted to quit my job and do real estate full time. And in my area, small to medium multi’s are the best way to go. So, that lead me to scale to 150 units in 5 years. I agree though that scaling endlessly and mindlessly is not the way to go. I also agree that having just a few rental properties that are fully paid off by the time you retire you WILL be light years ahead of 90% of the population. Great pointe guys!
Wow! I’m so glad to hear another perspective on going at it slow and steady. I’ve heard so many on increasing your wealth « by borrowing from your equity» the so called BRRRR method. I really appreciate that paying down your debt gives you more cash flow and more security on not going over your head. Most of what I’ve seen don’t talk about loss of income when you have a rental. It really only takes one horrendous tenant to set you back years: nonpayment, refusal to vacate, damages to the property that would take thousands and thousands of dollars worth of repairs, subletting and unauthorized pets, etc. Thank you for introducing me to someone I can relate to and emulate!
you're welcome! And thank you to you for watching and for replying. It's great to hear from you. Welcome aboard the small and mighty train!
Thank you so much for your knowledge and the details for every situation!!!!
Zuber is awesome…. Your episode about paying off debt (2 eps ago) is on repeat for me. This one will be the same.
You’re one of the only guys out there talking about playing small in real estate and it’s super refreshing, down to earth, awesome advice. Appreciate you!
Nice
Thank you Austin! Means a lot.
I discovered both of you during covid. I ended up taking action right away. Now have 6 rentals in the single family arena. For multi family, I just go down the private reit or LP route. Stick to basics and if it works, keep doing it. Why scale up if you’re not familiar or have extensive experience there where there is a lot more room for mistakes? SFH is a dummy slow and steady approach,… only skill is discipline, buying in class B or A areas, and patience!
I’m just tapping in I’m eager to learn everything I can this is my last resort to change my life at this age!! Thanks for this!
Love the collaboration. 2 of my favorites
thanks for the support!
Thank you !!
100% ❤️🔥
Thank you so much for these great interviews and for covering people in their sixties. I would love to hear more about late starters and suggestions. Is there still hope? I am currently renting. What do you need to consider to decide between renting or buying your first home for personal use versus for cash flow in your early sixties? Love your shows and the experts you interview. So valuable!
This reminds me of a fable by Aesops. A fox walks up to a lioness and asks her how many children she has. The lioness says ‘two’. The fox laughs and says, ‘only two? I have ten!’. The lioness says, ‘But I have lions.’
Totally agreed. We got debt on rentals in the first 10 years and got freaked out every time repair issues popped up. Once we were able to cash out refi at sub 3% on the primary home, we paid off all rentals and felt much easier without the debt. Now, not only we are ok with repairs, but also able to do some upgrades for the rentals. Tax on positive cash flow is still cheaper than debt interest paid to the bank. Sleep well at night is the bottom line
thanks for sharing your experience, Kenny. A mature rental portfolio is a LOT less stressful than early on. No doubt. I'm with you.
Love it
@nguye1971 can you clarify how income tax on positive cash flow is cheaper than interest on debt? the minumum tax rate is 10% and debt interest rates are around 7-8%
Great advice on syndication.
Buy one at a time . Beautiful. Thanks.
I needed this!!!!! Thanks Coach!!! Zuber is AMAZING!!!!
No doubt! It was fun talking to Michael.
Wow thank you
Thanks for the opportunity to talk shop!!
Enjoyed it Michael! Let's do it again.
@@CoachChadCarsonanytime!!
Coach Carson, great interview/conversation with Mike Zuber. Thanks so much to both of you for being so honest and sharing your knowledge for us to learn. My takeaway: bigger is not always better, RE is not easy but it is worthy. Do-The-Work
Excellent talk.
Thanks Coach!
Coach I love this episode, it speaks volumes , to what I have been doing over the past 3years I now have 3 rental 2 free and clear the 3rd as a 30year fixed rate ,I am think about my fourth , soon . Thanks for all you do , for us small investors,
Would love if you can talk about the best way to manage new debt when you are sure the deal make sense and cash flow but just how to overcome the fear,
When I look at over expenses,.
Nice!
If I may ask, how logn ago did you start buying?
Awesome, to learn from two Coaches simultaneously. My private real estate mentors.
great info !!! 👍👍
One Rental at a Tme book! Read it over and over when first started investing. Now will take a look again. We purchased all our rentals cash startimg 2010, when plethora of foreclosures and auctions were cheap. We have 8 now. All cash. Can't do that now. Great session.
Hell yeah so all that monthly going to you congrats hopefully I do that soon too😊
2 of my favorite here. Thank you for your time!
Our pleasure! thanks for watching, Gono!
Awesome
Thank you
2 people I admire in the same video. Wonderful! 😄
Great video. I truly enjoyed the back and forth dialogue between you guys. I love the small & mighty approach to rental property investing. Thanks for the awesome content and looking forward to reading your book when it becomes available.
Thanks Larry! I always appreciate your support. Small and mighty investors unite!
Wonderful episode! Thanks Coach.
Love the episode with you and Michael are so down to earth ..you speak my language... thanks a million, can't say enough...:)
excellent advice, thank you!
We are on our 2nd rental, we pay them entirely off before we proceed, (5years total, 2 more years to go). Thing is we're gonna be 60 by then and I wonder how much more effort we are willing to put in to become semi- rich vs. enjoying life with a bit less $$.. we're in Canada so all is 5year financing, so we're simply done before re- financing.
I’ve been watching you both for several years. Love you content. Keep it up!!
Thanks for watching and for the feedback, Jeff!
Great content! Thanks guys!!
Thanks for watching!
Very helpful Thank you for sharing
Great stuff here. thanks!!
My pleasure! thanks for watching.
Amazing would be an understatement thank you
Thank you!
Thank you coach. Good advice. I really need to hear this as a newbie investor
Glad it was helpful, Susan! Thanks for watching.
I'm in SC too, and I bought your book, Carson. I'll let you know my thoughts after I am done reading it. ❤
Do what matters! Great motto!
Thanks Coach
You bet! Thanks for watching
Another gem! Great job Chad!
Thank you!
Zuber is great. Thx for the content!
Glad you enjoyed it! thanks for watching.
Thank you so much
Great content!
Great info
Love it.
It's great when two favorites get together to lay out the truth about the market and not just push the rosy, buy buy buy no matter what mindset.
Thanks for watching and for the kind feedback!
Really love your content and easy to absorb delivery. Would like to hear some perspective about mature new real estate investors who have to build but may or may not have 10 years. Is real estate a pass or what strategy other than lending money can one effectively use? Thanks Coach, keep up the great work
Thank you for the feedback! We have been talking more about investors who start late in life. Have you seen this short: ruclips.net/user/shortsK4a5QVV31Nk or this full interview: ruclips.net/video/i_Vap22_p8M/видео.html ? We talk about it in there and I have another episode in a few weeks coming specifically about this topic.
But in short - 10 years is plenty of time. The path you will take within real estate depends on your current financial resources and what you have the interest in pursuing. Rentals or lending can both do well.
Great episode. Thanks
Thank you
Great advice
Thank you
Hotels are packed. And rates and fees sky-high. Just spent thepast few months on the road and they are not giving many discounts for extended stays.
Watching this in September at almost 8% and may go higher
Coach or Mr Zuber, can either of you expand your thoughts/knowledge on the “legacy” issue, or can you steer me in the rt direction of how to do just that. My wife and I have been fortunate enough to own free and clear (4) small multi-units (12 doors). But we’ve begun thinking of how we will leave our two sons the properties so that they will not be hit with taxes. Please advise and thank you in advance. Love your channels.
This is awesome! This is how I think about approaching this as a first time landlord. I have posted my scenario thoughts on a couple of other well known forums and everyone says I should not be paying cash for one single home and should be putting 20% down on 4 properties and comments like that. This validates how I feel. Thank you!
I've known people who take the all-cash approach and do just fine. Here's a podcast I did on the subject: www.coachcarson.com/real-estate-investing-without-debt/
2 legends of my line 🤑😇🏃♀️💡🏡
Thank you! It means a lot.
I have a question for the masters. Where are these deals, and how do you compete with the scores of other bidders/investors, of which there are countless? Unless it boils down to, and I suspect it alway has, who do you know, and more importantly, who do you have the necessary influence/pull with? Because that's the feeling I'm gettin' here, gentlemen, oh, excuse me, legends.
Maybe you need to look in a different area
Great show! I think for many, it’s their ego talking when they talk about hundreds of doors.
For most people, a handful of doors will be more than enough.
Do you recommend new constructions that are offering lower interest or do you recommend existing home in a more desirable locations?
Either. You just want to buy value - whether it's new or existing. And long term value comes from 1. the income and 2. The equity Growth. So the key is learning how to analyze those things.
Hi if you take a 30 year morgage will this be intrest only or repayment? As an investor?
30 year mortgages are typically amortized, meaning they'll be repayed in full over 30 years.
@CoachChadCarson so it's a repayment mortgage?
Thank u coach 🙏
@CoachChadCarson coach if your paying over 30yrs are you not paying more in term of the length your stretching over
Coach can I ask when your growing your portfolio for income would advise to use intrest only. Until you have hit a number to make you finical free. Would you then advise to switch to repayment over 25 years?
@@shazshaikh66 I personally like to keep my payment as low as possible on all mortgages (using interest only or 30-year, whichever is possible). Then I use cash flow to grow to whatever number makes sense. After that, use all cash flow to start paying off some or all of the debt. And then live off the cash flow! That's the point.
👍
This shows the difference between a wealth mindset that leaves a legacy and pure greed. My FOMO has bitten me in the behind more times than I can tell you. It's nice to sleep at night knowing that we have paid off almost all debt including our rental house. For us, it was a good decision. When my spouse had health concerns and it looked like he might not be able to return to work, it was good to know we had exit options without losing everything. That said, people who are leveraged to the teeth are one roof or furnace away from something really bad happening. I don't like that kind of "excitement." I'd rather do my excitement on vacation in small doses. But not everyone thinks like us....clearly!
Well said! Keep excitement for real roller coasters, not real estate!
I really want to watch this episode but I just can’t listen to his voice. I’ve clicked on it three Times to listen and left. Your guest needs to fix his mic and I wish this video could be re-recorded with better audio equipment.
How do you run numbers, how to step by step start investing, how do you understand your market and market rents, how to confidently know how to rent out your rental? It's easy to talk confidence but to show others to make a break through is crucial I've tried several mentors and all they did was try to steal money from me or talk me into circles is there anyone who can help me understand step by step what to do?
Stop going to gurus. Just read a few books. "Building wealth one rental at a time" is all you need.
Haha Grant that bastard always saying go big
He's an addict