Fit Rich Life Emily & James Lowery: Rethink The Rat Race w/ Real Estate | Episode 26
What if you could achieve Financial Independence in only 3-years of focused & dedicated work? Would you give it a shot? Well, that’s exactly what Emily & James Lowery did by utilizing the power of Real Estate.
In this episode, we cover all the things they did to achieve Financial Freedom in such a short period of time in addition to how their life has evolved over the last couple of years since reaching FI. We also share details on the tax advantages of Real Estate, their new Airbnb Online Course, and their Fitness, in addition to the Mindset & Resources necessary to jump into the world of Real Estate Investing.
James & Emily run the website/blog RethinkTheRatRace in addition to being Real Estate Investors & Digital Course Creators. Check out their newly released Remote Airbnb Management Course.
Key Highlights:
[00:01 - 15:05] Opening Segment
- How Emily & James define financial independence
How they became financially independent
- Emily & James’s background with money
Discovering Mr. Money Mustache
[15:06 - 30:11] Starting to Live By Example
- How Emily got into the FI movement
Having accountability and seeing other people’s progress
- How Emily & James aligned themselves to achieve their goals
Deciding to do real estate
[30:12 - 46:06] Don’t Have All Your Eggs in One Basket
- What cash flow FI is
- Real estate vs the stock market
The tax benefits of real estate
- The difference between short, medium, and long-term rentals
[46:07 - 1:05:52] How to Master Money
- Become the niche and go-to person in a particular area
- The different dynamic pricing tools you can use
- Emily & James’s course to develop an Airbnb business
How to get more into real estate
[1:05:53- 1:21:00] Approaching Real Estate Investing
- How much cash flow rentals bring in a year
- How much time you would spend per property
- Emily & James’s experience with their first property
[1:21:01- 1:42:13] Frugal Couple Hits Financial Independence
- The mindset you should have to get into real estate investing
- Why frugality is a powerful tool
- The reason why James stopped tracking their net worth
[1:42:14 - 2:01:50] Closing Segment
- What Emily & James are doing for fitness
- What Emily & James’s fit rich life is
Want to connect with Emily & James? Follow them on Instagram. If you're interested in the Airbnb Remote Management Course, head to Rethink the Rat Race!
Resources Mentioned:
The Shockingly Simple Math Behind Early Retirement by Mr. Money Mustache
Real Estate Investing, Money & Life (Coach Chad Carson Blog)
The House Hacking Strategy by Craig Curelop
Money Honey by Rachel Richards
Theragun Pro Handheld Massage Gun
Key Quotes:
“Become the niche and the go-to person in your area.” - James Lowery
“I know plenty of people that take the resources, and then turn that into an entire job of its own, and they just consume but never take action.” - James Lowery
“Anybody can invest in real estate. Mistakes will happen, but you just learn from them and move on .” - Emily Lowery
“You have to be able to delineate what you want for your personal life, and what you want for your business life.” - James Lowery
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Show Notes: www.alchemizelife.com/podcast/
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