Congrats on this segment topic. I am 69 and sold my business after 35 yrs. Now I have proceeds from the sale of my business and 35 years of successful business experience. I have energy and have always been creative soooo of course I'm eager to learn this new adventure. I'm ready to leverage.
Great topic, very inspiring. Congratulations on your RE investment success, Kim! Would you please share your North Texas realtor Lauri Woodward's contact info? Thanks so much!
Thank you again BPs Wow you guys hit the nail on the head for me! I am at that age and not have anything going for my retirement, but I have equity on my first home, single mom, I have always wanted to start real estate investing but so scared to start. I live in Canada and housing market is crazy expensive right now. I want to Thank Kim for sharing her story and so humble she sounds! I am happy for you! I am going to take in every thing you said and carefully put it to work! Wish me luck! I will be on your show someday when I make it. Here I go to my vision board 😂
Great topic. I'm 60 now, and started in January of 2019 at age 56. I had some of the advantages discussed in this episode, but some significant disadvantages as well -- modest income and modest cash reserves. I started with a neglected 3/2 SFH. Did a combination BRRRR and house hack that, even with mistakes, costly surprises, and lessons learned set me up for purchasing a 4-flat to (again) house hack in February of 2022. The SFH cash flows nicely now, the 4-flat cash flows a little after expenses. (It's fully rented and I'm on a month-to-month in a small studio while looking for the next place to deploy capital. I can buy and move the moment I find the right property.) My advice is to just do it. You don't have to make perfect moves. I certainly haven't. Despite that, I've built more equity and income 4 years than I could have any other way. That alone feels good, but so does the building momentum. Thanks BP!
This is such a great episode here. I started at 46, also with RWN Kathy Fettke. I've topped out at 9 turnkey properties / 10 doors, and now am 52 yrs old. Still working on building my wealth for a comfortable retirement. I love listening to Kim's story - I feel like I'm totally on the same page as her. If/when I retire, I would like to gain REP status as well. Thank you for this episode - speaking for 50+ year olds!!
Great stories! We started late in life as well being immigrants, coming with no money. Starting investing 6 years ago and how have 6 properties(3 long term rentals, 2 short/mid term rental and one primary residence)
This was a great show! Thank you Kim for the shout out for Rent To Retirement for Turnkey Rentals and New Builds! That means a lot to us. Very cool to have connected with you over the years and to see how far you've come in such a short period of time, especially starting later in life. I always tell people, you can create a lifetime of wealth investing in real estate in just a handful of dedicated years if you have the right strategy & stay consistent! Great job Kim!
After blowing it in my 30s (early 2000s) due to mistakes and the crash, I picked myself back up with a career change that pays better, fixed my credit and leveraged up to 1 SFH rental and my primary residence. I wanted to have more by now but I'm not going to beat myself up over it. I just turned 50 this year. Monterey Peninsula
Such a timely episode! Thank you Kyle & Kim for dropping sooo many gems. I'm 41 yrs old & my son is 17 yrs old & is absolutely watching me and looking to replicate my process/journey to building wealth. As a str host I agree that str experience depends on your enjoyment of hospitality and service to others- such a key foundational point that people overlook or do not realize. Thank y'all so much ❤
Great video for getting started “late”. I would love to see a part 2 video talking about the operations aspect of this model. Do you have all rents being paid to you as an individual? Did you form an llc? Do you own the property as an individual or does the llc own it? If LLC did you form it before your first purchase or was it an after thought? Kim touched on property management what % do you plan into your model? What legal considerations did you think through if any? Tax considerations? What advice for someone who wants to make this next step on the operations aspect?
I love Bigger Pockets and the whole group. I've learned so much in watching podcasts for the last 3 years or so. My question is: What's the deal with the unmade beds in the background? I've seen this numerous times with the hosts of Bigger Pockets. Still giving ya all 6 stars, though! ❤
Great podcast, but I wouldn't call starting off by buying 6 properties isn't really starting out at 50 is it? That is how to jump start your property portefolio when you are already rich.
This was definitely 💯🔥🔥🔥🔥! Loved how BP brought 2 guests on, kyle & Kim in their later years & touched so many different ways to get started, pivot or transition. Lots of gems, already watched twice & taking notes. Let's get another 1 on the podcast soon. Thx again 4 all u do!!
Grateful for Kim's story. I'd love to know if she has a channel to follow. I'd love to follow her to learn more .Wish I would have met her..7 years ago. Thanks so much for sharing this wonderful info. I know there's hope.
Great episode! Really like the „there is an expiration date on a milk carton, bet we are not like that“ comment… If you spin that analogy on, we could also be exactly like that, as indirectly is mentioned right after…. There might be an expiration date on the carton (occupation/workinglife) but then the milk is still inside the carton. And only goes „off“ as milk… however, transforms into yogurt, then „expires“ out of that dstage and turns into cheese…. And boy don‘t we all love the cheese waaaaay more than the milk even though it tecnically already „expired“ twice😂
I took out a HELOC for the downpayment to buy a 12 unit property in Virginia Beach. Sold it 5 years later for nearly double what I paid for it. Also bought a 4 unit property using a loan from my 403b.
Not possible to cover all the expenses for a rental property in Northern Virginia. You need to put money from your pocket every month if you start now days. People who start 7-8 years ago they have some cash flow. It’s very hard to find any properties that even break even
I retire at 35 years old this year 2023 I purchase 3 new construction home I live in 1 property and I rent out 2 property to my parent and my sister. Each month I collect $9k as my retire income.
Are there banks that won’t recall the HELOC after you find permanent financing for your real estate investment. When I used a heloc to buy a property, the bank that put it into permanent financing made me close my HELOC 😕
Why do people want to be landlords? What the... If I'm old, I'm not touching my 401K, I'm moving to a condo on a beach, not managing anything, but my beer tab.
I found it interesting that they opened with borrowing against your primary home equity and retirement savings to purchase investment properties. These are fine fall-back options but, at that stage of life, hopefully you have plenty of time to maximize your career income and to accumulate a significant amount of non-retirement savings and other investments.
Thank you for sharing these steps! Sharing it w my son. I’m in book tour myself in NY today. Book on healing from divorce called “THE SUN ALWAYS PIERCES THROUGH” ☀️
So, let me sum up: Be established, have no debt, have significant assets - IRA, 401K, etc., have a well seasoned mortgage with a strong HELOC potential…then why am I going to risk anything with all these assets? Without this launching pad of financial bedrock, you’re basically screwed as a late beginner, yes?
I get that time in the market is more important than timing the market, but I can’t believe that these high RE prices and high Interest rates are sustainable. Those over 60 don’t really have time on their side. How can you promote people taking their nest eggs and investing in such a risky market?
David, what a poor background behind you, undone beds and a fan. Seriously, flip the desk around so that your camera is facing the wall instead an untidy hotel bedroom. No excuses
I think that's a reckless advice to give people WHO HAVE NO RESERVES, about taking line of equity on their PRIMARY home. If they have reserves already why not use that instead of paying to borrow their own money?
David, terrible background, bed is not made and a fan behind you.? What’s the message here.? As business entrepreneurs we know that “details matter” and your background is sending a careless lifestyle signal. That’s not the impression I have of David Green.
I started at 57 and now I 63 and own 3 rent houses. I'm happy just having the 3 and still working full time.
We are an often time overlooked demographic. Thank you for starting the investing over 50 conversation.
So many successful people start later in life with different businesses. Thank you for listening in and good luck with all of your goals and dreams!!
Congrats on this segment topic. I am 69 and sold my business after 35 yrs. Now I have proceeds from the sale of my business and 35 years of successful business experience. I have energy and have always been creative soooo of course I'm eager to learn this new adventure. I'm ready to leverage.
Congratulations and all the best in this new chapter of your journey.😊
Great topic, very inspiring. Congratulations on your RE investment success, Kim! Would you please share your North Texas realtor Lauri Woodward's contact info? Thanks so much!
Oh my gosh, thank goodness there is still hope
But how does a finance advisor play into real estate investing? I'm curious.
This is just the motivation I needed. Time to stop hesitating and take that step towards real estate success.
I'm impressed by the positive feedback. I'm definitely reaching out to LUCY ROSE CARTER to get my real estate journey on the right track.
yes
Love this! Glad it’s not too late for us! Just turned 60, Have one property and going for #2
Thank you for being my inspiration.
Thank you again BPs Wow you guys hit the nail on the head for me! I am at that age and not have anything going for my retirement, but I have equity on my first home, single mom, I have always wanted to start real estate investing but so scared to start. I live in Canada and housing market is crazy expensive right now. I want to Thank Kim for sharing her story and so humble she sounds! I am happy for you! I am going to take in every thing you said and carefully put it to work! Wish me luck! I will be on your show someday when I make it. Here I go to my vision board 😂
Great topic. I'm 60 now, and started in January of 2019 at age 56. I had some of the advantages discussed in this episode, but some significant disadvantages as well -- modest income and modest cash reserves. I started with a neglected 3/2 SFH. Did a combination BRRRR and house hack that, even with mistakes, costly surprises, and lessons learned set me up for purchasing a 4-flat to (again) house hack in February of 2022. The SFH cash flows nicely now, the 4-flat cash flows a little after expenses. (It's fully rented and I'm on a month-to-month in a small studio while looking for the next place to deploy capital. I can buy and move the moment I find the right property.)
My advice is to just do it. You don't have to make perfect moves. I certainly haven't. Despite that, I've built more equity and income 4 years than I could have any other way. That alone feels good, but so does the building momentum. Thanks BP!
And thank you for sharing your story! The road can be bumpy at times but worth it!
This is such a great episode here. I started at 46, also with RWN Kathy Fettke. I've topped out at 9 turnkey properties / 10 doors, and now am 52 yrs old. Still working on building my wealth for a comfortable retirement. I love listening to Kim's story - I feel like I'm totally on the same page as her. If/when I retire, I would like to gain REP status as well. Thank you for this episode - speaking for 50+ year olds!!
Jenny CONGRATULATIONS!!!! I hope we meet at en even sometime!! Kim Bosler
Great stories! We started late in life as well being immigrants, coming with no money. Starting investing 6 years ago and how have 6 properties(3 long term rentals, 2 short/mid term rental and one primary residence)
That's so wonderful to hear!! Congratulations!!
That is soo great !! Congrats🎉
Great podcast!!! I’m 51 and Kim’s story just motivated me more!!!! Both guests fabulous! 🥰😊
You are so young!!!
Not the messy bed background David Greene 24 😂 did you bring your own box fan to the hotel…. Lol cute!
This was a great show! Thank you Kim for the shout out for Rent To Retirement for Turnkey Rentals and New Builds! That means a lot to us. Very cool to have connected with you over the years and to see how far you've come in such a short period of time, especially starting later in life. I always tell people, you can create a lifetime of wealth investing in real estate in just a handful of dedicated years if you have the right strategy & stay consistent! Great job Kim!
After blowing it in my 30s (early 2000s) due to mistakes and the crash, I picked myself back up with a career change that pays better, fixed my credit and leveraged up to 1 SFH rental and my primary residence. I wanted to have more by now but I'm not going to beat myself up over it. I just turned 50 this year. Monterey Peninsula
Such a timely episode! Thank you Kyle & Kim for dropping sooo many gems. I'm 41 yrs old & my son is 17 yrs old & is absolutely watching me and looking to replicate my process/journey to building wealth. As a str host I agree that str experience depends on your enjoyment of hospitality and service to others- such a key foundational point that people overlook or do not realize. Thank y'all so much ❤
What a super lady and a great, inspiring guest. I want her as my mentor!
Great video for getting started “late”. I would love to see a part 2 video talking about the operations aspect of this model. Do you have all rents being paid to you as an individual? Did you form an llc? Do you own the property as an individual or does the llc own it? If LLC did you form it before your first purchase or was it an after thought? Kim touched on property management what % do you plan into your model? What legal considerations did you think through if any? Tax considerations? What advice for someone who wants to make this next step on the operations aspect?
Great video. Love this channel. I'm starting in my 40s. Blessings to you all.
I really connect with this video. Even if you're starting in real estate later in life, you can still learn and make a change.
Very true! Thank you for your kind words!
Amazing episode, so much great info. Thanks!
I agree that it's never too late to start your real estate investing journey! Thank you for your wisdom
Thankfully that is true. I wish you all the best in life!!
I love Bigger Pockets and the whole group. I've learned so much in watching podcasts for the last 3 years or so. My question is: What's the deal with the unmade beds in the background? I've seen this numerous times with the hosts of Bigger Pockets. Still giving ya all 6 stars, though! ❤
Absolutely worth the ⌚. So many gems here. Thanks as always! ❤
Great podcast, but I wouldn't call starting off by buying 6 properties isn't really starting out at 50 is it?
That is how to jump start your property portefolio when you are already rich.
I am 54 and the first thing he said excluded me from doing this.
Wow, starting off with a 6 home purchase. I was a late starter but had to do it one at a time. Still working on it.
I started at 52, made 1.2 million in 6 years
That is great!!
How did you begin ? I am 53 and started a family very late in life.
Divorced and work construction. TIA😊
@@Sara-kt6qf I bought the building I was renting for my business very low, renovated it and rented it out to my business. Look for great deals.
You stay in a hotel with a box fan? Well, I guess that’s how you stay rich. 😆
😂
This was definitely 💯🔥🔥🔥🔥! Loved how BP brought 2 guests on, kyle & Kim in their later years & touched so many different ways to get started, pivot or transition. Lots of gems, already watched twice & taking notes. Let's get another 1 on the podcast soon. Thx again 4 all u do!!
I started at 52, at 63 I'm sitting pretty.
I work with over 50’s too ❤❤❤
Great guests and topics. Thanks! 😊
Thank you so much and all the best to you as well!
Great episode, Kim looks 46 right now! I wish she would have said how old she is today:)
I am 63 with 20 grandkids. :) thank you for the nice comment; it must have been the lighting because I do look like a gramma. lol
Left one out. Plenty of knowledge but now finally make enough to do something about it
Epic panel and investment education 🙏💪🏾❤️👏🏿🙌🏾🇺🇸💔🔥
I need this advice. I'm in my own way!!
Grateful for Kim's story. I'd love to know if she has a channel to follow. I'd love to follow her to learn more .Wish I would have met her..7 years ago. Thanks so much for sharing this wonderful info. I know there's hope.
Super awesome episode with Kyle and Kim. I learn a lot from the two of them. Thanks for having them on the show. Thanks
I am so glad you liked it! I wish you the best!!
You guys are great! Thank you!
Great episode!
Really like the „there is an expiration date on a milk carton, bet we are not like that“ comment…
If you spin that analogy on, we could also be exactly like that, as indirectly is mentioned right after….
There might be an expiration date on the carton (occupation/workinglife) but then the milk is still inside the carton. And only goes „off“ as milk… however, transforms into yogurt, then „expires“ out of that dstage and turns into cheese…. And boy don‘t we all love the cheese waaaaay more than the milk even though it tecnically already „expired“ twice😂
Very helpful Thank you for sharing
Great Video! Very Motivating!
Great show.
Its nice to see this video with a mature woman. I get tired of seeing videos of young people successes.
Great show!
Great stuff.
The market is so crazy right now the prices.. its discouraging.
Great advice.
I took out a HELOC for the downpayment to buy a 12 unit property in Virginia Beach. Sold it 5 years later for nearly double what I paid for it. Also bought a 4 unit property using a loan from my 403b.
Love this topic
Good show 👍
Not possible to cover all the expenses for a rental property in Northern Virginia. You need to put money from your pocket every month if you start now days. People who start 7-8 years ago they have some cash flow. It’s very hard to find any properties that even break even
David, It doesn’t stop at 55 years of age!… oh, you did say whether 60 in your intro! Good job!… lol
Soon this will be called Smaller Pockets
I retire at 35 years old this year 2023 I purchase 3 new construction home I live in 1 property and I rent out 2 property to my parent and my sister. Each month I collect $9k as my retire income.
How do the current interest rates impact using your equity??
Loan again my retirement is over 9% so if it’s not growing at 9% I’m losing money
Could just move to a self directed and invest in real estate
The idea that someone who isn't even 40 is talking about how 'late to the game' he is...hilarious.
Where/how do you find property managers on your city?
David Green I looked in a wheel guess is buying in Florida I as well would like to buy property in Florida as well
I chose to self directed 401k
If you had 20k in HYS what would you do next?
Are there banks that won’t recall the HELOC after you find permanent financing for your real estate investment. When I used a heloc to buy a property, the bank that put it into permanent financing made me close my HELOC 😕
How many liens did you have on the HELOC property? Most banks will only be 1st or 2nd lien.
Why do people want to be landlords? What the... If I'm old, I'm not touching my 401K, I'm moving to a condo on a beach, not managing anything, but my beer tab.
I found it interesting that they opened with borrowing against your primary home equity and retirement savings to purchase investment properties.
These are fine fall-back options but, at that stage of life, hopefully you have plenty of time to maximize your career income and to accumulate a significant amount of non-retirement savings and other investments.
Thank you for sharing these steps! Sharing it w my son. I’m in book tour myself in NY today. Book on healing from divorce called “THE SUN ALWAYS PIERCES THROUGH” ☀️
So, let me sum up: Be established, have no debt, have significant assets - IRA, 401K, etc., have a well seasoned mortgage with a strong HELOC potential…then why am I going to risk anything with all these assets? Without this launching pad of financial bedrock, you’re basically screwed as a late beginner, yes?
I get that time in the market is more important than timing the market, but I can’t believe that these high RE prices and high Interest rates are sustainable. Those over 60 don’t really have time on their side. How can you promote people taking their nest eggs and investing in such a risky market?
crap, i just started at 39. i suck.
Like it
David, what a poor background behind you, undone beds and a fan. Seriously, flip the desk around so that your camera is facing the wall instead an untidy hotel bedroom. No excuses
😂
How about you keep on focusing on backgrounds, while the rest of us listen and learn from the content presented.
Pretty sloppy, what kinda business is he running 😂
@@dutchmafiakingsavage comback
I am74
If you purchase a home you can withdrawal without any consequences
Damn, 50? You’re damn near dead but it’s better late than never.
I think that's a reckless advice to give people WHO HAVE NO RESERVES, about taking line of equity on their PRIMARY home. If they have reserves already why not use that instead of paying to borrow their own money?
Test
Finally someone not in diapers telling their story, lol,
Terrible episode! I get the impression Kim was storytelling and is not an actual investor. Starting to seem fraudulent.
I know first-hand that Kim's story is real. I am the Realtor who found the 6 properties in Burleson, TX she mentioned.
She didn’t really explain anything and it’s like you had to pull it out of her. 🤔
That's alot of assuming.
David, terrible background, bed is not made and a fan behind you.?
What’s the message here.?
As business entrepreneurs we know that “details matter” and your background is sending a careless lifestyle signal. That’s not the impression I have of David Green.
Did anyone catch the opening where @davidgreene24 said it’s, “Nether too late”? This guy is brilliant. You gotta listen out for the nuggets. Nice…🎉
This chick just got lucky with timing... bought right before housing market doubled...