Coach, this is a must see for so many of us trying to make sense out of the real estate game- this is a way that nobody talks about- such a lovely refreshing way to look at life and investing! Grateful to you for sharing!!
Great interview! Thanks for putting this up. Have become a huge fan of John since you introduced me to his book just a few weeks back. His approach really resonates in that we don't have to 10x as investors to be successful.
Glad you have also become a fan of John's work, Brent. It's definitely refreshing to know that keeping it simple can work just fine (or better than fine!).
I have read that book a bunch of times and it has helped me to learn a lot. Now I use some of what I learned and applied to build my portfolio to mentor my clients. Love what you do Chad.
I really appreciate Johns perspectives on real estate, I’ve attended his class (great) and read and re-read his book over and over, great training, great interview, Thanks
Coach great interview and really at these times it is sooo pertinent to living a purposeful life.. Money is one thing, quality of life is where its at! Appreciate your genuine content and positive message.
thank you, Elizabeth! Sounds like you are on the same page with aligning your investing and life goals. Sure is refreshing to hear someone like John who has done it for 4 decades!
Excellent interview Coach! It was the perfect length, covered a lot of ground regarding his experience(and yours), including what not to do, and why, with regard to putting all of your eggs in one or two baskets.
Tons of quality in there. I really love the idea of selling a partial interest to a trusted friend. My only complaint is that it wasn’t a 3 hour conversation. Really great stuff thanks Coach!
Yeah, I think the selling a partial interest is one of the most valuable nuggets he presented. It was how he owned part of free and clear houses early in his career. When you have a few trusted money partners, there are all sorts of creative possibilities.
Great interview Chad. I read his book years ago but should probably read it again. It would be great if you did a quick video about what books you have on your bookshelf. It looks like we have a lot of the same. Thanks!
All of your interviews are big time helpful, but I am placing this one in the TOP 5! Hearing 2 investors discuss how to navigate and evaluate risk helps us young pups. Thank you!
Thanks Rob! This was definitely my top 5 favorite interview just in terms of helpfulness to me. I have to pinch myself sometimes that I get to have conversations with smart people about topics I love to learn about!
I thank you for getting Mr. Schaub to share with us his insight and time during this uncertain time. He canceled his class with Peter Fortunato in April. It was good to hear his insight on the current crisis and the opportunity to come ahead. You save me money and time vs. attending the class. I suggest his friend Peter Fortunato as your next interview. The main lessons and take away from the interview are the following. 1. You can make as much as you want in the RE business the main question is how much do you want? What do you want to do when you grow up? 2. Making money is very important but how you make that money and the time cost may be as or even more important. 3. It's a game that most people can play vs. large apartment buildings or commercial buildings. 4. You have to learn what is safe and what is not safe. 5. Why are you trying to accomplish? and what is the minimum # of units to accomplish the goal with the least amount of effort? 6. Free and clear properties give peace of mind and simplified his business. 7. Most people only 5-15 houses is all they need. 8. Having some debt is good since interest rates are so low. 9. It's a financial strategy to have free and clear houses to have things people or banks to take away from you. You would want to separate the ownership to protect your assets. 10. What's the happy balance between cash flow vs. appreciation? 11. You can learn how to do it in an expensive market. Learn how to find a real deal and buy it with partial interest. 12. What are your thoughts after 7 recessions? We will be in a recession for at least 1-2 years. Upgrade your tenants. 13. Investors will be interested in real estate and with the low-interest rates very low they will want more income. 14. You need to embrace change and prepare for it. Selling part interest is a brilliant concept. 15. I like the idea of two people in one deal. 16. What the most rewarding part of being a real estate investor? It's been ability to have a high quality of life. You learn what's most important to you.
Thanks Chad I listened to this interview twice. Mr Schaub has such a refreshing and practical approach to investing and enjoying life. He oozes joy, satisfaction, and wisdom.
Great interview! My "challenge" is that I am starting late in the game (68 yrs old). It would be great to hear more about investing in the later years. What is the best plan for older investors?
I made this video to talk about that topic: ruclips.net/video/irJWjhlVS-k/видео.html John Schaub, who I interviewed here, actually helped his dad start in his late 60s or early 70s. So, it's not too late! But you do need to be careful and conservative to make sure you preserve the nest egg you do have. But there are ways to do that in real estate.
@@CoachChadCarson Thank you for your kind reply. I watch your youtube videos regularly. Thank you for providing awesome information. I will most definitely watch the video you recommended.
Great interview with Mr. Schaub. I appreciate his middle ground attitude, it really is about appreciating and having a great life and then giving back in the future.
I"d like to see you interview Fixer Jay from Redding, Calif. Maybe he'll even tell you the two most common sounds he hears on his rental properties are the scraping sound of a car hood being raised, and the pull tab on a can of beer as it's being opened! :) John Schaud will even attest that Jay is one funny dude, as well as a fountain of knowledge.
Yeah that would be a good interview. I’m reading one of his books now and I don’t invest the way he does but he’s definitely a street smart guy with good advice.
Very informative interview Coach! I’m curious, since I’m currently looking to start investing and using the BRRRR approach, have you had the same experience with forcing appreciation as John mentioned? I was surprised to hear he doesn’t do any rehab given his success in the business. This may be relevant with the triplex you’re currently working on.
That was an interesting point John made about not doing rehabs. My understanding after studying him for years isn't that you can't do those value-add, BRRRRR type deals. He just finds that his time is best spent buying a deal at a 15-20% discount that needs no work instead of one at 30% below ARV that requires a lot of work, moving parts, etc. That extra 10% of discount is probably from your time managing the remodel and project. So, John looks for nicer or newer properties in well-chosen locations and then trys to get at a reasonable discount. It's hard to get the best houses in the best neighborhoods at huge discounts that work with BRRRRs, but these deals still make a lot of money over the long run (as John has shown).
Brrr deals are cash and time intensive and the most critical part is the refinance, so the numbers have to be perfect or a significant amount of your cash will stay locked in the deal. Thats what i hear anyways.
Great interview. I totally agree with him, free and clear homes is the way to go. My portfolio is local and that is so much easier. I think you learn with time. I'm 30 years in and have done it all but have settled on single family homes also. You really have to figure out how much you need or want. Remember every property you add is more work and effort. I am all about life worth living! Enjoy the journey!
Great interview, Chad. I suggest you interview some experts that don’t believe in the FIRE movement. It will be interesting to have Dave Ramsey or Suze Orman on your show. Keep up the excellent job you are doing. Your interviews are very educational and fun.
![BLACK BAG - Official Trailer [HD] - Only in Theaters March 14](http://i.ytimg.com/vi/Du0Xp8WX_7I/mqdefault.jpg)
Great interview Chad. I read John's book in the early 2000s and it started me into real estate investing. I hope to take his course someday
I definitely recommend it! The course was fantastic.
Coach you consistently provide quality content, thank you!
thanks for watching, Sam!
Coach, this is a must see for so many of us trying to make sense out of the real estate game- this is a way that nobody talks about- such a lovely refreshing way to look at life and investing! Grateful to you for sharing!!
Great interview! Thanks for putting this up. Have become a huge fan of John since you introduced me to his book just a few weeks back. His approach really resonates in that we don't have to 10x as investors to be successful.
Glad you have also become a fan of John's work, Brent. It's definitely refreshing to know that keeping it simple can work just fine (or better than fine!).
I have read that book a bunch of times and it has helped me to learn a lot. Now I use some of what I learned and applied to build my portfolio to mentor my clients. Love what you do Chad.
Glad you liked it too!
Thanks Chad, these interviews are highly engaging and informative. Very much appreciated.
Glad to hear it! Thanks for watching, Doug.
Really enjoyable interview. Great perspective! Thank you!
Glad you enjoyed it! thank you for watching.
I really appreciate Johns perspectives on real estate, I’ve attended his class (great) and read and re-read his book over and over, great training, great interview, Thanks
Totally agree! I appreciate you watching and commenting.
Glad I stumbled on your videos. I've read many books on real estate and John Schaub's was the best.
Thanks for watching!
Great interview! Thanks 😊
Glad you enjoyed it! John is one of my favorite teachers.
Very helpful Thank you for sharing
skip Baltic and Mediterranean Ave properties, get properties like St James Place and Kentucky Ave, and get to Park Place and Boardwalk by the end!
Coach great interview and really at these times it is sooo pertinent to living a purposeful life.. Money is one thing, quality of life is where its at! Appreciate your genuine content and positive message.
thank you, Elizabeth! Sounds like you are on the same page with aligning your investing and life goals. Sure is refreshing to hear someone like John who has done it for 4 decades!
I ordered his book Chad. It came in the mail yesterday. Can’t wait to get started.
It's a good one!
Start with the end in mind, keep it simple, create processes, be deliberate. What a great interview!
Well summarized! Thanks for watching, Larry.
Excellent interview Coach! It was the perfect length, covered a lot of ground regarding his experience(and yours), including what not to do, and why, with regard to putting all of your eggs in one or two baskets.
Glad you enjoyed it! I enjoyed this conversation with John as much as anyone.
Tons of quality in there. I really love the idea of selling a partial interest to a trusted friend. My only complaint is that it wasn’t a 3 hour conversation. Really great stuff thanks Coach!
Yeah, I think the selling a partial interest is one of the most valuable nuggets he presented. It was how he owned part of free and clear houses early in his career. When you have a few trusted money partners, there are all sorts of creative possibilities.
Makes sense. Thanks again
This stuff is gold. Definitely my style. Thanks Chad. Another great one!
Glad you enjoyed it, Rich! I can definitely see your approach aligning with John's.
Awesome interview!
Thanks!
Great interview Chad. I read his book years ago but should probably read it again. It would be great if you did a quick video about what books you have on your bookshelf. It looks like we have a lot of the same. Thanks!
Thanks for the video idea about books on my bookshelf. I'll do that soon.
All of your interviews are big time helpful, but I am placing this one in the TOP 5! Hearing 2 investors discuss how to navigate and evaluate risk helps us young pups. Thank you!
Thanks Rob! This was definitely my top 5 favorite interview just in terms of helpfulness to me. I have to pinch myself sometimes that I get to have conversations with smart people about topics I love to learn about!
I thank you for getting Mr. Schaub to share with us his insight and time during this uncertain time. He canceled his class with Peter Fortunato in April. It was good to hear his insight on the current crisis and the opportunity to come ahead. You save me money and time vs. attending the class. I suggest his friend Peter Fortunato as your next interview. The main lessons and take away from the interview are the following.
1. You can make as much as you want in the RE business the main question is how much do you want? What do you want to do when you grow up?
2. Making money is very important but how you make that money and the time cost may be as or even more important.
3. It's a game that most people can play vs. large apartment buildings or commercial buildings.
4. You have to learn what is safe and what is not safe.
5. Why are you trying to accomplish? and what is the minimum # of units to accomplish the goal with the least amount of effort?
6. Free and clear properties give peace of mind and simplified his business.
7. Most people only 5-15 houses is all they need.
8. Having some debt is good since interest rates are so low.
9. It's a financial strategy to have free and clear houses to have things people or banks to take away from you. You would want to separate the ownership to protect your assets.
10. What's the happy balance between cash flow vs. appreciation?
11. You can learn how to do it in an expensive market. Learn how to find a real deal and buy it with partial interest.
12. What are your thoughts after 7 recessions? We will be in a recession for at least 1-2 years. Upgrade your tenants.
13. Investors will be interested in real estate and with the low-interest rates very low they will want more income.
14. You need to embrace change and prepare for it. Selling part interest is a brilliant concept.
15. I like the idea of two people in one deal.
16. What the most rewarding part of being a real estate investor? It's been ability to have a high quality of life. You learn what's most important to you.
Awesome summary points! Thank you Pete. This is great. And I like the idea of getting Pete on an interview. I'll work on that.
Solid Info sirs... thank you
My pleasure. Thanks for listening, Jacob.
Thanks Chad I listened to this interview twice. Mr Schaub has such a refreshing and practical approach to investing and enjoying life. He oozes joy, satisfaction, and wisdom.
Agree! Glad you like it, too. Thanks for listening!
Great Interview...buying the book right now!
It's a good one!
It’s so interesting to listen to his forecast on the other side of Covid. It shows that no one truly knows what can happen in markets.
Thanks Chad!! What a valuable interview and a wealth of information.
Thanks for watching, Scott!
Excellent interview
thank you Ankush!
Closing on my second home on 2 days and my third one week after. Thank you for all the tips.
Great Gono! Congratulations on your progress. I appreciate you sharing!
Great guest, great book, simplicity is the answer. FI number more important than Unit number
Well said - "FI number more important than unit number". Can I borrow that?! :)
Great interview! My "challenge" is that I am starting late in the game (68 yrs old). It would be great to hear more about investing in the later years. What is the best plan for older investors?
I made this video to talk about that topic: ruclips.net/video/irJWjhlVS-k/видео.html
John Schaub, who I interviewed here, actually helped his dad start in his late 60s or early 70s. So, it's not too late!
But you do need to be careful and conservative to make sure you preserve the nest egg you do have. But there are ways to do that in real estate.
@@CoachChadCarson Thank you for your kind reply. I watch your youtube videos regularly. Thank you for providing awesome information. I will most definitely watch the video you recommended.
John is by far the best.
Definitely awesome!
Great interview with Mr. Schaub. I appreciate his middle ground attitude, it really is about appreciating and having a great life and then giving back in the future.
Well said, Alex! Thanks for the feedback.
John Schaub seems like such a solid guy. Good interview!
he is! Great person as well as smart investor. Thanks for watching.
I"d like to see you interview Fixer Jay from Redding, Calif. Maybe he'll even tell you the two most common sounds he hears on his rental properties are the scraping sound of a car hood being raised, and the pull tab on a can of beer as it's being opened! :) John Schaud will even attest that Jay is one funny dude, as well as a fountain of knowledge.
Awesome interview! Learned so much! Thanks for doing that Chad!
Yeah that would be a good interview. I’m reading one of his books now and I don’t invest the way he does but he’s definitely a street smart guy with good advice.
I love the two most common sounds! Lol. He knows his customers well. And thank you for the suggestion. He'd be a great guest to have on.
Very informative interview Coach! I’m curious, since I’m currently looking to start investing and using the BRRRR approach, have you had the same experience with forcing appreciation as John mentioned? I was surprised to hear he doesn’t do any rehab given his success in the business. This may be relevant with the triplex you’re currently working on.
That was an interesting point John made about not doing rehabs. My understanding after studying him for years isn't that you can't do those value-add, BRRRRR type deals. He just finds that his time is best spent buying a deal at a 15-20% discount that needs no work instead of one at 30% below ARV that requires a lot of work, moving parts, etc. That extra 10% of discount is probably from your time managing the remodel and project. So, John looks for nicer or newer properties in well-chosen locations and then trys to get at a reasonable discount. It's hard to get the best houses in the best neighborhoods at huge discounts that work with BRRRRs, but these deals still make a lot of money over the long run (as John has shown).
Brrr deals are cash and time intensive and the most critical part is the refinance, so the numbers have to be perfect or a significant amount of your cash will stay locked in the deal. Thats what i hear anyways.
Would certainly recommend interviewing peter Fortunato as well
Thank you! I've love to interview, Pete.
Great interview. I totally agree with him, free and clear homes is the way to go. My portfolio is local and that is so much easier. I think you learn with time. I'm 30 years in and have done it all but have settled on single family homes also. You really have to figure out how much you need or want. Remember every property you add is more work and effort. I am all about life worth living! Enjoy the journey!
Totally agree! Thanks for sharing your perspective.
Great interview, Chad. I suggest you interview some experts that don’t believe in the FIRE movement. It will be interesting to have Dave Ramsey or Suze Orman on your show. Keep up the excellent job you are doing. Your interviews are very educational and fun.
Great suggestion! That may take some work getting Dave or Suze, but I love the idea. Time to up my game on the interviews:)