Jillian Johnsrud & Chad Carson - Small and Mighty Real Estate Investing
Aug 23, 2023
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Real estate investors Jillian Johnsrud and Chad Carson discuss the benefits of small real estate investing and challenge common notions of leveraging debt. They emphasize the importance of aligning real estate with desired lifestyle and share personal examples of community involvement and positive impact. The episode also includes a discussion on Chad Carson's new book on practical steps and philosophy for smaller investors.
Achieving financial freedom through real estate investing is possible with a smaller portfolio of properties that generate consistent rental income.
Optimizing real estate investing for faster financial independence involves creating an income floor with properties that offer lower management intensity and responsible tenants.
Paying off debt in real estate investing reduces risk, increases income stability, and provides greater peace of mind and flexibility in financial journey.
Deep dives
The concept of being a small and mighty real estate investor
In this podcast episode, Chad Carson introduces the concept of being a small and mighty real estate investor. He challenges the notion that bigger is always better and emphasizes that it is possible to achieve financial freedom through real estate investing without the need to own a large number of properties. By focusing on a smaller portfolio of properties that generate consistent rental income, individuals can attain financial independence with less effort and risk. Chad shares his own experience of owning a limited number of properties that provide a significant portion of his passive income, allowing him and his family to live a flexible and fulfilling lifestyle.
How to optimize real estate investing for a faster financial independence
Chad discusses how real estate investing can be optimized to achieve financial independence at a faster pace. He introduces the concept of creating an income floor, where individuals focus on acquiring rental properties that generate sufficient cash flow to cover their basic expenses. By carefully selecting properties that offer lower management intensity and attract responsible tenants, investors can streamline their real estate portfolio and reduce the time and effort required for property management. This approach allows them to shift their focus from constantly growing their portfolio to enjoying the benefits of financial freedom and pursuing other personal goals.
The benefits of paying off debt in real estate investing
Chad highlights the benefits of paying off debt in real estate investing. While leverage can be a useful tool for wealth building, he emphasizes the importance of reducing risk and increasing income as investors approach financial independence. Paying off mortgages and reducing debt allows investors to free up cash flow, providing a more stable and consistent income stream. By eliminating the need for large mortgage payments, investors can also experience greater peace of mind and flexibility in their financial journey.
The opportunity to make a positive impact in the community
Chad and Jillian discuss the unique opportunity that real estate investors have to make a positive impact in their communities. By investing in properties in their own towns and developing relationships with tenants, investors can gain firsthand insights into local issues and be catalysts for change. Chad shares his personal experience of getting involved in community projects, such as building walking and biking trails, to create a more livable and accessible environment. This sense of purpose and contribution adds a fulfilling dimension to real estate investing, going beyond financial gain and creating a virtuous cycle of caring for tenants and the community.
The release of Chad Carson's book, 'The Small and Mighty Real Estate Investor'
The podcast episode concludes with the announcement of Chad Carson's book, 'The Small and Mighty Real Estate Investor.' The book aims to provide readers with a guide on how to approach real estate investing as a small and mighty investor. Chad's book offers a combination of philosophy and step-by-step execution, helping readers understand the principles and practical strategies for achieving financial independence through real estate. The book's release is anticipated on July 20th, providing readers with a valuable resource to navigate the world of real estate investing and pursue their path to financial freedom.
On today’s episode of the Financial Independence Podcast, I welcome back Chad Carson from CoachCarson.com!
Chad just released a new book, The Small and Mighty Real Estate Investor, and I wanted to get him back on the show to talk about it.
I’m not a real-estate investor myself though. So rather than interview him myself, my real-estate-investor friend, Jillian Johnsrud, did the interview for me!
You may know Jillian from Montana Money Adventures, or her new podcast – Retire Often.
She did a fantastic job, so I hope you enjoy their conversation as much as I did!
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