Ep 276: Early Retirement by Age 35 ($10k/mo) Through Real Estate

59 Replies

Great podcast.  If you liked "Vacuum the truck", you should check out his videos on Youtube.  Fun little graphical journey.  I love how he appeals to the higher end renter - I suspect that's how he squeezes the sponge on his cash flow.

Great show guys!!! Foolishly, the number of doors I’d have before age 30 had been my goal, now its 10k in passive income. Gotta get more return from what I already have!!

I liked the podcast...great content and funny.  Take action was the message.  Bryce is smart, articulate, hard working, and witty.

I struggled to follow the underwriting though and rents were not discussed...$1,000/door cash flow, 23 doors, only $10,000/mth cash flow.  Comparison was made to other members who look for $300/door fully loaded (all expenses, vacancy, management, capex) with $1,000/door (that may not be fully loaded...don't know).  I didn't loose the forest through the trees but the trees are important in investing and lend credibility to the story.  Regardless, I really enjoyed the podcast and learned a lot.

Originally posted by @Michael Durham :

Where do you live that you can retire off 10k/month. I want to move there now!

 Where do you live that you can't live off $120K/year, tax deferred? Sure, it might be lower middle class in NYC or SF, but you can still survive. 

Originally posted by @Paul B. :
Originally posted by @Michael Durham:

Where do you live that you can retire off 10k/month. I want to move there now!

 Where do you live that you can't live off $120K/year, tax deferred? Sure, it might be lower middle class in NYC or SF, but you can still survive. 

Las Vegas, Salt Lake City, and then Northern Michigan in the summers.

Originally posted by @Michael Durham :
Originally posted by @Paul B.:
Originally posted by @Michael Durham:

Where do you live that you can retire off 10k/month. I want to move there now!

 Where do you live that you can't live off $120K/year, tax deferred? Sure, it might be lower middle class in NYC or SF, but you can still survive. 

Las Vegas, Salt Lake City, and then Northern Michigan in the summers.

 If you're going to maintain three residences, that's a different story. Anyway, I think if someone is good enough to build up $10K/month in cash flow, they might as well keep going and make sure they are very comfortable. Then they can live in three different places.

You can have a very nice lake home in MN and a nice pool house in Vegas off less than $6k a month. So unless SLC is way more expensive, $10k should do all 3 nicely. 

I just made mine rentals first so I could fix them up the way I wanted them at 25% off. Plus you write off all the travel between them then. 

Just got off my brother’s sailboat in MN and let me tell you. I miss Vegas more and more even in the summer. So friggin muggy here. And the FN bugs! But they do have the last Rocky Rocco’s outside of Wisconsin except for a reported Spokane, WA location. So I’ll be in BP,MN tomorrow having some of the best pizza available. 

So I listened to this podcast again for the third time just tonight and totally missed that first part where @Brandon Turner mentions how difficult refinancing has been for his recent conventional refinance and he had to write an essay on why refinancing is a good thing.  Hahaha, HILARIOUS!!  I couldn't stop laughing!  Brandon - can I borrow your essay in case I have that same problem?!  

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