BiggerPockets Real Estate Podcast

How to Retire Early with Fewer Rental Properties Than You Think w/Chad Carson

Aug 14, 2024

Chad Carson, an early retiree and real estate expert, shares his journey from working 80-hour weeks to enjoying financial freedom. He discusses redefining success by focusing on a smaller portfolio that creates significant passive income while allowing for personal fulfillment. Listeners learn why having hundreds of rental doors isn't always ideal, and Chad emphasizes aligning investment strategies with life goals. He encourages reflection on personal aspirations and offers insights on achieving a balanced and satisfying real estate experience.

50:46

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Episode guests

Chad Carson

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Episode notes

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Quick takeaways

Real estate success should be defined by personal goals and lifestyle preferences rather than merely counting the number of properties owned.

Investors must reverse engineer their desired lifestyle to strategically align their investment decisions with achieving financial independence and personal fulfillment.

Evaluating time commitment and focusing on cash flow can lead to a more balanced life, ultimately redefining success beyond just financial returns.

Deep dives

Redefining Success in Real Estate Investing

Success in real estate investing is often mistakenly measured by the number of doors owned. Many investors subscribe to the belief that a higher door count equates to greater success, equating bigger numbers with better results. However, the true philosophy espoused in the episode suggests that personal goals and lifestyle preferences should guide investment decisions. By focusing on creating a portfolio that aligns with individual aspirations, investors can find fulfillment beyond merely collecting property.

Intro

2min

Redefining Success in Real Estate: A Life-First Approach

3min

Identifying Aspirations in Investment

10min

Redefining Success in Real Estate Investment

23min

Finding Fulfillment Beyond Finances

6min

Exploring Investment Philosophy and Personal Insights

2min

The Balance of Conservative Investing and Personal Goals

5min

You want to retire early, so you come up with a plan. “I’m going to buy ten rental properties and call it quits, then I’ll never have to work again.” Within a decade, you’ve got your ten rental properties, but now you want more. You buy another ten, then a big apartment complex, and now you’re raising money to buy even more. You have zero free time, investors to answer to, and a lot of stress. This wasn’t what you wanted. Let’s take it back to where you are now: how do you actually make it to early retirement?

At the height of Chad Carson’s real estate investing career, he was working eighty-hour weeks flipping homes, buying rentals, and dreaming of a financial freedom-enabling portfolio. But when the market crashed, he took a step back and asked, “What do I really want?” Thus, the small and mighty investor mindset was born. Now, Chad is retired early in his forties, working just two hours per week and making six figures in passive income. Want to do it, too?

Today, Chad discusses how you can build a small and mighty portfolio with fewer rentals, more cash flow, and ultimate time freedom. We’ll show you how to reverse engineer your goals to build the real estate portfolio you ACTUALLY want to own, why having hundreds of doors isn’t completely worth it, and the “metrics of success” you can use to measure your progress toward financial freedom.

In This Episode We Cover:

How to retire early (like Chad) with a small real estate portfolio

Why “door count” isn’t an accurate measure of success in real estate investing

Reverse-engineering your financial freedom and how to start working toward it today

Discovering your “why” and how NOT to get stuck in the day-to-day drudgery of adult life

Measuring your progress toward financial freedom with the “metrics of success”

Knowing when is “enough” and why winners know when to quit

And So Much More!

Links from the Show

Grab Chad’s Book, “The Small and Mighty Real Estate Investor”

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