It’s my cleansing. If you’re flipping the houses and doing the contracting, then you’ve got to deal, you sell it, you make a one-time check cash and you’ve got to do it again. The supply of apartment buildings, of quality, of size is so small that when you triple, quadruple or quintuple the people that want them, the prices go up and they’re beyond price for perfection in my market. I had to do something else. We had to figure it out because stuff was being sold for land value. It is a wonderful feeling. They’re going to get rid of the four-bedroom, two-bath, two-storey with the pool. Families combined together to make a stronger rental unit, a stronger probability that you’re going to get your money all the time because you got multiple people. They will charge you more than you even got. I have a goal to try to create something that outlives me by 100 years. We also interview real estate investors and business owners to gain insight into how you too can reach your goals of financial freedom. They are cycles and it’s going to pass. He rents it for at least twelve months so he has an argument for capital gains. Welcome to One Rental at a Time Enroll Now. They have to work for the next 30 or 40 years to survive. Let’s say I was making $1,000 or something like that. It took me fifteen years and 175 rental doors to be financially independent to cover my net and then some. Many podcasters in NYC have a difficult time finding quiet space. I made a decision a long time ago that I was not going to go into the music business for almost the same reason. He would loan me at 18% plus $2,000 kicker. That’s what your spreadsheets are for. My first private lender was not only a hard money lender. Michael Zuber tells his story of how he went from being an executive to retired using long-term rentals as a side hustle. I don’t know why I was doing that either. I moved out. Yet, I did 100,000 to 200,000 miles a year because it paid the bills. Featured Courses. We spend a year looking in the Bay Area, nothing works. How do we know what book we want to read? AP 9 Jan 2021. One of the greatest things you said was you have to live below your means. NEVER Forget: One Rental at a Time (It is That SIMPLE) Regular price $25.30 Sale price $25.30 Sale. I didn’t have anything else to talk about. Did you ever have that moment where you’re like, “My bottom line says I’m supposed to make this much but because of the liabilities, I’m not making that much?”. To make $3,000 a month from an owner-finance house or a rental, it’s not a huge obstacle in the world. One Rental at a Time Works Available until . Here’s the good news and the reason why I’m bringing this up is that maybe it works the same in apartments. I’m like, “I didn’t know what that was.” I had never lived in one and I never saw one. People don’t let you use their money because you don’t pay them back. Part of what we want in this business is freedom. What are you thinking? If I sell a house to a guy and he puts $10,000 to $20,000 down, now they got two people sincerely interested that this thing goes right, me and the guy that’s living in it as the owner. Everybody thinks they’re different and unique. You’ve got to figure out something else. I had a job that paid more than most. We’re not worried about you understanding the concept. She’s 100% in. I’m glad you said that because I’m selling one or two books a day and I have no idea if that’s good or bad. If I make some money, I break even, I can afford to write a check for a few times, I’m losing every month, just hang on and it will be fine. Michael Cohen says his podcast “Mea Culpa” is changing the minds of listeners who supported President Donald Trump. / 00:27:23. Silicon Valley hasn’t made sense as a rental in decades. I had a student there and I learned that that’s one of the few places. I had the toys, cars, watches, clothes, the ridiculous expensive belts and all that stuff. Book a call with our team: https://go.oncehub.com/morrisinvest. We highly recommend Rent a Podcast as the equipment quality, roominess of the studio, and accommodating attitude of Jeremy and Crystal make for an optimal experience. }, COPYRIGHT © 2021 1000HOUSES.COM, A DIVISION OF COMMERCIAL MUSIC. If you just get one rental this year, and then one rental next year, and then one the year after that, you’ll be following the same path that we did in our journey. Also, Michael has a special interest in helping kids 15-25 see that they do not have to hold a corporate job for 40 years and pray for a good 401K. If you can manage it from two and a half hours, you can manage it from two and a half continents. As you’ve already highlighted, if it works once, do it again. There are many ways to do this business. I was and she gets a lot of credit because this business will test you. Michael puts out great, easy to digest content every day. We’re going to send everybody to 1000houses.com/zuber. Fresno for the most part, at least as a rental, has been doing well. I was a real estate investor. I’m going to let that deal pass because 15% is too much to pay.” If you’re buying a $200,000 house for $100,000 and you only got five days to consummate the deal, who gives a damn how much the money is. There’s also a Kindle version, which is all on Amazon. var top = ( screen.availHeight - 500 ) / 2; You have to work on the systems and on it as a business owner does. You had everything under control. No one in that neighborhood could get a loan to save their life even if the house would qualify for a loan. We live significantly below our means and we started buying one rental at a time way back in 2002 to 2003. 'width=550,height=420,left='+ left +',top='+ top +',location=0,menubar=0,toolbar=0,status=0,scrollbars=1,resizable=1' I got to my 30th birthday and I realized that I was already making more money than my parents had ever seen. I did it 450 times in a row and my average profit per house was $15,000 to $20,000. No, now that I’ve exited the workforce, I’m looking for those kinds of things. I made it red instead of purple. Through some luck and 15 years of time, we were able to find financial freedom. You have a way of making complicated things rather simple to understand. I bought every freaking thing I could during that crash. They call it down to 400 and said, “You’ve got to put this out.” I never intended to write a book. Were you married when you started this journey? Why real estate? Most of the people that made my income spend it all. There are a lot of lessons to be gotten out of listening to someone’s life story, which is why I prefer History channel or autobiography channel over sci-fi movies and stuff. What have I done?” My doctors were my investors. Share on FacebookShare on TwitterShare on Google+Share on Linkedin. We buy this house on Norris Drive. Also episodes where the host is a guest on other podcasts and their recommendations from other podcasts. You’re the owner directing somebody who is handling everything, which means you get the weekly report, the every other day report, the quarterly or whatever report you want. Did you buy it at 50% of its value? If you are a landlord of affordable housing, if you look at the Monopoly board, think of the light blue and the orange that is on that side of the board. If so, One Rental at a Time will transform your life, just as it has transformed my life and the lives of thousands of others. If the loan is sub 6%, I’m going to keep it until it runs out. You read that thing from a cruise ship or from your kid’s college football game, wherever that is. $3,000 and it was $40,000 less and the rents were tripled. We Study Billionaires - The Investor’s Podcast Network, The Investing for Beginners Podcast - Your Path to Financial Freedom, Everything Real Estate Investing Show with Sean Pan. I was buying houses, some of them with the owner finance note and selling the note usually at the same closing within an hour. Did you buy it at a steep discount? They send you a mortgage payment. They can call them the CEO of X or Y. He says, “Just owner finance them. It is if they’re telling you the truth on the pro forma, which they’re not. var left = ( screen.availWidth - 500 ) / 2; I’ve documented how do you learn the market, how to run the numbers, how to build a team, how to create the business. That house turns out great because I’ve already used it as an example. What happens to the real estate prices when banks don’t loan money to people? No signup or install needed. I didn’t have time for any extra stuff. I was in day trading and then the tech wreck happened. I told them I was writing a journal not to myself but to our audience. I don’t enjoy the abuse I’m going through, as far as what you’re saying you want to avoid. It made the deal. They’re just not for me.”. I coach seven people that are living in one place and investing way someplace else because where they live doesn’t make any sense to invest. I chose storages because it is the path of least resistance to a renter. You got your ass kicked. ← Partnering With Your Seller with Tye Glover, Passive Apartment Investing with Lane Kawaoka →. We are known for many wonderful things here in NYC; unfortunately easily accessible quiet places are not one of them. You don’t have all the liabilities that come from the back fence, the backyard to the front curb in the mailbox to the front yard and all that’s in between. 12% was not good but good enough. Because I was offering the financing and it was the most beautiful thing I’d ever seen in my life. If I'm differentiating myself by that one small thing, that means it makes it easy for me to rent my places out. You’ve got a geek that goes into real estate that writes a book. On this episode of Investing in Real Estate, Michael Zuber is back to share his incredible journey from life behind an accountant’s desk to creating financial freedom through real estate investing. I’ve seen Fresno and I live in the Bay Area. I’m worried about you getting it so fast and turn it around so fast. Could you have been that guy and not do cocaine and take care of yourself or is it impossible in that job to do that? Join the Real Estate Investor Summit Community: My Life & 1,000 Houses: Failing Forward to Financial Freedom. When did you come to that conclusion and why? You had the income. I went to hard money first. I didn’t even know the word hard money back then. Copyright © 2020 Apple Inc. All rights reserved. I’m like, “Who is this guy? We both got this figured out.” He wanted to go that way and I wanted to go that way. Years later, it will start to pick up steam. Retiring Using Rentals: There are many ways to make a living and good income in this business. I had been a student of history too but I lived through a previous thing. You had a tragedy and you sat down to catalog your life and apparently you don’t know what else to talk about but real estate and everything related to it.” It was true. I went to Borders with tail between my legs. We went all in. That’s why it didn’t work for me. Listen & laugh as we tell the stories you only THOUGHT you knew. Everybody is a syndicator now. In the middle of a recession, your rents were going up. They knew facts on my life. You have the insurance, you didn’t have to think about that for a while. They went up during the housing crash. That’s for billionaires.” He goes, “No, Michael.” He pats me on my shoulder and said, “Come on. I need to go check that out. You had to do the math and figure out what 30 days’ worth was. In his book, One Rental at a Time, he shares his fifteen-year journey from a single house on Norris Drive in Fresno, California to financial independence and ultimately retirement. I don’t care who you are. Read it now. Because that’s a whole different interface. For more infor What we did was we lived below our means. It worked for me and it can work for you too. Real-Time Episodes being played now. I almost quit. In a sales job, if you’re very good at it, you can make great money because there’s this thing called accelerators. It was going in and out. Get it and lock up that $100,000 worth of equity or whatever it is that you think is good. This got to be the most expensive university on the planet. I’m going to use that if you don’t mind. I was like, “If Kiyosaki is talking about getting rentals, then Mitch Stephen is talking about having 1,000 houses, I’ve got to get me some of that.” I read your first book. What can you do with $1,000?” There’s something to do about it. She goes, “That sucked. That’s a pretty good place to do that because, by California standards, they still have some affordable houses down there. He always Rich Dad everything. We’re going to tell you what they’re not telling you. We survived the crash and we actually prosper because rents went up. If you turn this around out of my $7,500 a month, how much am I going to be able to keep?” He says, “You will be able to keep it all every month.” I said, “I don’t care if all it takes is ten minutes, I’m in.” I did the math, I was going to get the money back in a month and a half. Thus Michael Sponsors a monthly Book Report Challenge and Sends out $100 each month to the best Book Report. I never missed a payment and all this income but the bank said no because I was the devil. I didn’t know what it meant to have a bank say no. Most of them, some substance that I wanted no part of. Go to the bank then and get out of the 15% loan or call your friends and tell them, “Who wants to make 10% or 8%?” or whatever, but fix it later. Hopefully, those of you out there that are operating on a shoestring and they’re trying to figure out the mindset of this game, this podcast and Michael’s podcast, what’s the name of your podcast? In his book, One Rental at a Time, he shares his fifteen-year journey from a single house on Norris Drive in Fresno, California to financial independence and ultimately retirement. People get stuck sometimes like, “I’m not going to pay that guy. Put it over there.” At a point in your life where you’ve got $100,000 a month cashflow or more, does it ever make sense for me to say, “I’m going to buy that $5 million complex for $5 million cash so I can spend all the money when it comes in because it’s going to come in again next month?”, We’re at a different season of our investing career. I was very good at it. return false; During the recession, the rents would go up, which means it makes rentals recession-proof as well. How many have you got?” They said, “You’ve got 140. I go all in and I figure it out. After Self Publishing a Best Selling New Release on Amazon called "One Rental at a Time" The Journey to Financial Independence through Real Estate I learned I had to do more. Maybe it’s a high paying job, but it’s a job that is most highly taxed and you can’t leave. One of the questions I asked that coach was, “You want $10,000?” He was telling me, “I don’t want you to be mad if I solve this problem pretty fast for the $10,000. It’s not going to take too long to straighten you out.”. These are all the syndicators and the Grant Cardone wannabees of the world. Watch those 37 little videos and it will blow your mind. There are a couple of answers to that. That guy’s book had an effect on me too. Playlists Playlists from our community. There’s hardly anyone out there that invents wrappable money for people like me where I can borrow the money to buy a house say $50,000 and then I can sell it on a wrap mortgage for $100,000. As a matter of fact, I want to read your book. I worked 60 hours a week and then traveled 40 to 50 hours on top of that. It’s a good book. It’s only available on Amazon. If that reaches one, two or three people and it changes their lives, then it’s worth writing the book.” I was hoping that it would help one, two or three people. I want the audience out there to know, for once in your life, not making a lot of money could work for you well. I will teach you.” He talks about commercial apartment buildings, more specifically small apartments like five to ten units. Curated Podcasts Recommended by media. I thought $10,000 at the time was expensive. I learned in the last recession that I was buying houses at the lower of the low because the bank stopped loaning money. We have a 60-day eviction that we’re staring at and then we have a $15,000 remodel after this is done. They have to rent. Some people ask me if they could read it. I borrowed every penny I could.
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