Podcast #108 – Rocky Lalvani recalls 2000 & 2008 corrections and regrets not getting started earlier with a little marriage family advice

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YouTube Link: https://youtu.be/v0fB-e3579E

Text “simple” to 314-665-1767 to download the Hui Google Drive files and the 2018 Rental Property Analyzer

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Pardon the grammar – I’m an Engeneer, Enginere, Engenere… I’m good with math! Here are the Show Notes:
Currently have 5 rentals and 80k of income and trying to paying off rentals because near retirement
Also flips properties where the goal is 20k profit
He outsources much of the work
Got rentals in 2011 and regret not doing it earlier
Got hammered in 2008
Got out of the market in 2000
Interest rates are very low which is different that past times which means a good time to lock in loans, stocks are pretty high
Real estate is not for everyone and might have a wrong skill set
If you don’t want to do the work be a hard money flipper but only make 10% (you need to have the money)
Don’t lend to someone doing their first flip
Need to hire a virtual assistant – 5 properties can manage by self
Let go of politics
Marriage advice
Begin with the end in mind – He already knows his legacy and just lives it
Teaching kids financial principals – mindsets and habits
To teach a 12-year-old – give them money
To teach a 30-year-old – they need to want to fix the money problem
Letting go to be happy
richersoul.com

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