Ep 0058 How Real Estate Can Lead to a Life of Abundance and Freedom with Chad Carson

Written by Rocky Lalvani

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Family | Finances | Real Estate

How Real Estate Can Lead to a Life of Abundance and Freedom

Invest in real estate, retire early, do what matters.

Money Learnings: Chad’s dad was an entrepreneur and his mom was a dentist. They had money growing up and by watching his father’s business he was able to see success and failure. The conversations around money were very transparent. Chad is teaching his kids deliberately about money and instilling a work ethic and to be thankful for what they have. He is focused on teaching them gratitude.

Take away: Take the time to be self aware of your skills and be purposeful with your desires and dreams.

Action step: Explore how real estate can fit into your wealth plan. If you already are involved what other niches can you explore?

Highlights from this episode:

Invest in real estate, retire early, do what matters.

Chad originally thought he would go into medicine but decided he didn’t want to invest 8 more years in school and incur a lot of debt.
He was focused on having autonomy, flexibility and freedom to pursue what matters to him.
Real estate has allowed him the autonomy to live life on his terms. He teaches others to do the same.
Money is just a tool that allows you to do what you want with your life.
Chad has taken multiple mini retirements in life to examine if he is on the right path.
Make sure you pick the right building to build your life. Too often we put our ladder on the wrong building.
Everything that’s good in life could have an excess or deficiencies. You have to find the balance with money and everything else.
Chad’s current mini vacation is living in Ecuador for the past year. It’s allowed him to slow down and enjoy life.
What happens to your happiness level when you simplify your life?
Why we should get rid of obligations in life.
With real estate you have to put the work in up front but over time it becomes systematized and easy so you can reap the rewards.
What are the red flags with renters?
The importance of financial reserves to handle issues that will happen.
House hacking as a way into real estate.
What’s the key ratio of purchase price to rent to go by?
The risk with commercial retail properties.
Remember Dave Ramsey and Donald Trump both went bankrupt with real estate.
The advantages of private money financing options instead of using banks.
Chad’s story of how he started out in real estate with no money.
How relationship can help you achieve success.
Who should not get involved with real estate?
Self awareness of your talents and skills are important to determining what niche is perfect for you in real estate.
What is it like going through a crash in housing market?
Make sure you have margin in your deal and life because things go wrong.
Why you need to be flexible and ready to pivot.
You have to live life for a purpose.
And so much more!