Ep 19. The Ultimate Real Estate Retirement Plan w Chad Carson

14 Replies


Chad Carson has never had a “real job.” Instead, he has parlayed his experience helping with his father’s rental business into his own real estate rental business.

Now, Chad owns enough real estate that he’ll never have to work at a real job. In fact, when we spoke to Chad, he called us from Ecuador — where he’s been living for a year in order to submerse his children in the Spanish language. His rental business ran itself while he was away. He was able to take an extended vacation and truly delve into the area — and now his children are bilingual!

Chad’s take on “mini” retirements is very interesting. He obviously loves what he does, but he also enjoys spending time with the people who matter most: his family. Real estate provides him the opportunity to work at his own pace.

This episode gives you an alternate look at early retirement — it doesn’t have to be permanent.

Listen here or on your favorite podcast player.

Awesome goal! We are going to attempt a month in Florida next winter while running the management back in Wisconsin. Seeing someone do it from Ecuador makes me very optimistic I can make it work!

Originally posted by @Chris May :

I'll admit I didn't listen to the podcast but have a question anyway! How did Chad get his first properties if he never had a real job?

 You missed the part of the fathers rental portfolio. So basically sounds like inheritance!

Originally posted by @Anish Tolia :
Originally posted by @Chris May:

I'll admit I didn't listen to the podcast but have a question anyway! How did Chad get his first properties if he never had a real job?

 You missed the part of the fathers rental portfolio. So basically sounds like inheritance!

 That's kinda what I was thinking. Honestly, I don't find those kinds of real estate success stories very interesting. If you have the business basically handed to you, there's not really any learning to be had. It's those first few properties that you have to really bust your butt for... if those are just handed to you then the hardest work is basically done for you.

Originally posted by @Chris May :
Originally posted by @Anish Tolia:
Originally posted by @Chris May:

I'll admit I didn't listen to the podcast but have a question anyway! How did Chad get his first properties if he never had a real job?

 You missed the part of the fathers rental portfolio. So basically sounds like inheritance!

 That's kinda what I was thinking. Honestly, I don't find those kinds of real estate success stories very interesting. If you have the business basically handed to you, there's not really any learning to be had. It's those first few properties that you have to really bust your butt for... if those are just handed to you then the hardest work is basically done for you.

He bird-dogged properties in GA for $2,000 per property.  He then moved to SC and flipped properties and bought rentals using owner financing and private money lenders.

His story is episode 84 on the BP real estate podcast and it's one of the best episodes.  His BP blogs on creative financing and life balance are excellent as well.  Anish, let's go after the bad guys instead.

Originally posted by @Chris May :
Originally posted by @Anish Tolia:
Originally posted by @Chris May:

I'll admit I didn't listen to the podcast but have a question anyway! How did Chad get his first properties if he never had a real job?

 You missed the part of the fathers rental portfolio. So basically sounds like inheritance!

 That's kinda what I was thinking. Honestly, I don't find those kinds of real estate success stories very interesting. If you have the business basically handed to you, there's not really any learning to be had. It's those first few properties that you have to really bust your butt for... if those are just handed to you then the hardest work is basically done for you.

Good example of why you should verify what others write. Chad bird-dogged, kept costs very low (including living in his friend's spare room) and built up his business. There wasn't any mention of an inheritance in the episode. 

Originally posted by @Chris May:
Originally posted by @Anish Tolia:
Originally posted by @Chris May:

I'll admit I didn't listen to the podcast but have a question anyway! How did Chad get his first properties if he never had a real job?

 You missed the part of the fathers rental portfolio. So basically sounds like inheritance!

 That's kinda what I was thinking. Honestly, I don't find those kinds of real estate success stories very interesting. If you have the business basically handed to you, there's not really any learning to be had. It's those first few properties that you have to really bust your butt for... if those are just handed to you then the hardest work is basically done for you.

 Should've just listened to the episode. I definitely sold this guy short! Sounds like he really hustled in the early years.

Sorry Chad!

Wow. This podcast meant a lot to me. Sometimes i get too competitive with myself and others and lose touch w my goals and reasoning. I’ve been following coach Carson for around a year now and am looking forward to his book coming out soon!

hey @Chris May , thanks for listening to the show. I didn't get an inheritance of money to help me start. In fact, other than those first birddog deals where I earned a fee, my father was never financially involved in any of my properties. But as most people know, having strong support from mentors early on is better than getting money. So, I was definitely fortunate in that respect to be able to call my father for ideas and help. That is one of the reasons I love BP and a share a lot of info myself. We could all use help and support from more experienced investors early in our career. Because I didn't have a job with regular income, I used private, seller, and occassional commercial financing to buy my first flip and rental deals. hope that helps!

@Chris May I got nothing against @Chad Carson . And he rightly admits being in a RE family is a great leg up even without financial help. Im not trying to take anything away from anyone but having a well off family in general provides a safety net that many others dont have. The playing field is never level and nobody really makes it solely on their own merits. 

Originally posted by @Anish Tolia :

@Chris May I got nothing against @Chad Carson . And he rightly admits being in a RE family is a great leg up even without financial help. Im not trying to take anything away from anyone but having a well off family in general provides a safety net that many others dont have. The playing field is never level and nobody really makes it solely on their own merits. 

 Haha. Just read your post thinking "this guy gets it." I just realized you're in Berkeley... like minds.

@Mindy Jensen THANK YOU, THANK YOU, THANK YOU for making the point that while you can invest with low and no money down, and even make money with these strategies, that you have to be in a position to have reserves, have good credit, connections, etc. (Ep. 19). I have been driving myself crazy because I am putting myself in a position to have low or no personal debt and be able to invest with leverage when it makes sense... I’ve read so many articles where people want to jump in with $1,000 and turn into the next Big RE investor overnight. While hard work and determination will make you money there is nothing wrong with taking the slow(er) path to wealth.... no offense to those doing it with no money, but everyone has their own methods that work for them...

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