I hate these people that talk about, “Go quit your job and jumping full-time.” That’s a ridiculous strategy. Five days in a row I was buying a house. They can call them the CEO of X or Y. Learn More . 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. $10,000 is $10,000. They’re parking money there. Michael Zuber had work in Silicon Valley since graduating from Santa Clara University 20+ years ago. I appreciate you being on. Either that or huge billion-dollar hedge funds. How do you get started - How do you make Progress Every Week - Does Life Get in the Way - What is Next, Grab Your Copy of My Book on Amazonhttps://amzn.to/2X41yzh✅ Learn More About Our Course Here!http://bit.ly/ORATTcourse❓Questions Get in Touch and Drop Us A Line!http://bit.ly/askzuberLet's Connect!Facebook: https://www.facebook.com/onerental.atatimeTwitter: https://twitter.com/ZuberGoToMarketLinkedIn: https://www.linkedin.com/in/michaelzuber/Website: https://onerentalatatime.com/Podcast: https://podcasts.apple.com/us/podcast/one-rental-at-a-time/, Real Estate Investing in 2021 is going to be exciting and full of Opportunity, How do the Over Achievers Maintain the Fire over months and years and Others Fail past Month One, Review a Deal, ADU QA, What Market Should We Chose, How to Get Started Right, Celebrate Success, Does Events of January 6 2021 Change How We should Evaluate Multi Family - Single Family Real Estate, Rich Dad Poor Dad - What People Get WRONG After Reading it and How did it Help Us move forward. Cohen Seeks to Dismantle Trump Legacy, One Podcast at a Time NEW YORK (AP) — The rehabilitation of Michael Cohen has reached a surreal new stage: Quizzing the … 'Share this Episode', I’m self-published. They have to work for the next 30 or 40 years to survive. 17 min. It has a happy ending. 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. It took four or five years but it all came back. Buy and hold rentals became the answer and I jumped in. 44 talking about this. var left = ( screen.availWidth - 500 ) / 2; I like a simple life so the answer is no. Silicon Valley hasn’t made sense as a rental in decades. It could be twelve months, thirteen months, fourteen months, whatever. I said, “Is there any tree ordinance or anything out here?” They said, “No.” I bought a $630,000 piece of dirt, six acres, $100,000 plus an acre. I couldn’t figure out how to get paid. I only had these houses 30 days at a time. You’ve figured out how to get someone between you and those issues if you’re not good at them or you can’t stand them anymore. I enjoy talking to you, Michael. They will charge you more than you even got. No times are currently available. We can save you hours of time searching and we only connect you with the most reputable podcast studios. It could be a good deal in the real estate investing business. I sold the 25. They have options and the sooner we can open their eyes the better. Every book I found was a real estate agent or somebody trying to sell me something. I’m leasing $1.8 million to build the facility. Now that he no longer has a day job he shares his story via his self-published book (available on Amazon) called One Rental at a Time and his YouTube Channel also Called One Rental at a Time. You need to qualify for loans. I found one thing that worked and I put all my chips on that number. I had been a student of history too but I lived through a previous thing. The reason we got done is not because of my income, it was because we were living below our means. 30. Yeah. I had made a bunch of money in the stock market. This guy right here said there was nothing.” We found out that two weeks after I bought the land the ordinance was passed and they annexed the thing. What happens to the real estate prices when banks don’t loan money to people? You had to be making some good money because you weren’t destitute or that would have been a whole another story because you did sink. I went to hard money first. I have some housing that I bought during the crash that had 10% owner-financing on it or private money financing. First off, all of us build an Excel spreadsheet that says we make X. / 00:27:23. It’s now worth $265,000 and rented for $1,100. I don’t enjoy the abuse I’m going through, as far as what you’re saying you want to avoid. They send you a mortgage payment. What’s going on? I started off as a finance person. It’s more of a forced savings plan the way I looked at it. How far is Fresno from Silicon Valley? There’s this other way to do it. var socialShareUrl = aElement.href; I was so young. A couple of them had heart attacks. There are a lot of books where you read and by page 80, they’re just rehashing, readdressing and telling it to you again and then they’re going to readdress it and retell it again. I’ve listed stuff for sale because they are so overpriced that I will take the cash in and buy houses because houses are underpriced. Thank you very much for asking. I was trying to sell to get out of it because I was buying in rough parts of town. Playlists Playlists from our community. 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. This too will test you. Some people ask me if they could read it. Rents go up when the demand goes up. I want the audience out there to know, for once in your life, not making a lot of money could work for you well. We are ecstatic. It was that one book. I’ve been trying to talk someone into doing it for a long time because if you’re a bank and you loan money to me for a rental house, you’ve got one payer that gives a damn about that house. When did you come to that conclusion and why? 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. To make $3,000 a month from an owner-finance house or a rental, it’s not a huge obstacle in the world. Then the crash happens, the bank’s turnoff. You have that. This is the third year in a row we've recommended podcasts to TIME readers. They went up during the housing crash. ... Top Podcasts In Health & Fitness See All. Get into Michael’s story and find some golden nuggets on buy and hold real estate investing, owner financing, rentals, and more. All the rich people come in. I could have retired a couple of years earlier. I made it red instead of purple. We went all in. I’m either on or off. I love guys like you. I realized I didn’t want to be the people above me and I hate flying. If you’re like me, I buy houses and I owner-finance them. I knew that wasn’t what I wanted. How do we know what book we want to read? The market turns right. We’re going to discuss how you can build your real estate portfolio one rental at a time, with as little as 20 minutes per day. Let’s say I was making $1,000 or something like that. Read the book and learn how One Rental at a Time can lead to financial independence. When I get committed to something, I’m either in or out. Podcast Academy Learn podcasting ☰ MORE | Login. First and foremost, I believe real estate investing and the path that I followed tests you for ten years. It has no attraction for me. I almost quit. I will teach you.” He talks about commercial apartment buildings, more specifically small apartments like five to ten units. I was about to want to get out and stumbled onto a mentor who showed me how to stay in 24 years ago and millions of dollars ago. Are you familiar with Lonnie Scruggs’ Deals on Wheels? Retiring Using Rentals: There are many ways to make a living and good income in this business. It is a wonderful feeling. I had $75,000 in the bank. There’s no sheetrock, no hot water heater in windows, no plumbing, so that’s what I picked. I can only speak about my market, so take it for what it’s worth. I’m sure more people have gotten rich off of rentals than owner financing strategy simply because I don’t think people understood or even think about owner financing until someone shows them another side. He’s smart. Finding stuff was easy but securing the capital became the hard part. You can be interested in anything and be interested in retiring. That is absolutely recession proof. I tell everyone I graduated from La Calle U. Calle means the street. We do everything right, credit check, criminal record, references and all that stuff. That’s what I’ve learned. Share on FacebookShare on TwitterShare on Google+Share on Linkedin. I always made money. We have a really great YouTube channel which we update daily and cover an array of topics regarding buy and hold real estate. You have a business that you cannot work in because it’s too far away. I create $500 extra a month cashflow with each deal average. I want to say thank you to my sponsor, TaxFreeFuture.com. Go find someplace that has the houses or the properties that you want, plenty of them and plenty of people that live in them. That wasn’t even recognizable to the bank because it was tips. I looked at some other people’s courses and mine is different. For the first time, I’ve made decisions to pay stuff off. Figure out how to set up shop and have a real business. You have the insurance, you didn’t have to think about that for a while. Whatever you're paying off, that's what you're choosing to get as a return on that money for as long as it takes to get it back. He knows us,” then he elbows me and goes, “I read your book.” Be careful, they’re going to do that to you. At the time, I was buying 150 houses that year when I was wrapping up this book. I couldn’t touch this guy for $10,000 if he would even take anyone. My mission was to say, “If you don’t like being a landlord, there’s another way to do it.” It has its differences. I was pouring my guts out. I don’t know any different. At the end of the 45 days, I had 45 houses. My balance sheet went down but I don’t care. It’s a different way of thinking. Retiring Using Rentals: Finding stuff is easy. You won’t have any liabilities and it will be their house and the phone calls will stop.” I did it on accident. The wife takes off. Everybody is a syndicator now. You’re going to find it very interesting how people take very tiny amounts of money in a retirement plan and grow it to big amounts of money rather quickly. I got back and I said, “I don’t have any more money to buy any mobile homes. I lived through 2008 where the desert of the day were houses. I was all in because I figured that was my once in a lifetime chance. It has a term and it has an end date but you can create great wealth and there are differences. Other people lived in Florida, which you can still buy houses in Florida but their foreclosure process sucks. There are many ways to make a living and good income in this business. You have to work on the systems and on it as a business owner does. I’ve had this dilemma and I don’t want to sound stupid. The Amazon Book Review Book recommendations, author interviews, editors' picks, and more. The one that changed my life was Rich Dad Poor Dad. I didn’t have any other time. This got to be the most expensive university on the planet. I needed that money and no one would give me money back then. We put 20% down at cashflows. Cohen seeks to dismantle Trump legacy, one podcast at a time The rehabilitation of Michael Cohen has reached a surreal new stage: Quizzing the actor Ben Stiller about his approach to … 162 likes. I’m not an economist but I lived through this and I saw it with my own two eyes and with my own money on the line. We went from eight doors to 80 at the peak. My circle of influence when I was 30, 90% of the people I worked with made my amount of money or more and they spent it all. Curated Podcasts Recommended by media. In addition, I went from 2003 to what turned out to be the peak in 2008. What was your biggest nightmare? I didn’t even know the word hard money back then. If you do not have a tax-deferred or tax-free investment vehicle i.e. Did you buy it at a steep discount? I found Rich Dad Poor Dad that only talked about rentals. You’re still getting the appreciation yourself. They don’t care how much they charge you. That was my goal when I put pen to paper. We live in California and invest in California. He goes, “Have you ever looked at commercial properties?” I’m going, “I don’t want a shopping mall or an office building. You need to have income and you should not be stressed out that you make bad decisions. I’ve got some money being wasted over there too. You need to try on that business with some security to find out if you’re any good at it or you like it or if you’re going to want to do it. Who’s keeping track of that? Episode 42 - Happy 20th Anniversary, One Piece anime! 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. He stops working and drinks all day and decides to destroy my house. You’re one of the five-percenters. I thought $10,000 at the time was expensive. I was consumed with it and everything in my life is related to it. If there are ten years left and it’s 10% money, then you’re choosing to put that money in 10% for ten years. It’s the story of our fifteen-year journey from a single house on Norris Drive in Fresno, California to financial independence and ultimately retirement. Welcome to One Rental at a Time Enroll Now. I was trying to get out. Join the Real Estate Investor Summit Community: My Life & 1,000 Houses: Failing Forward to Financial Freedom. He says, “All your books have the same name. I’ve documented how do you learn the market, how to run the numbers, how to build a team, how to create the business. I didn’t want to test that theory. I want to learn how to get better on this planet. I go to a local Meetup. You had the income. Also episodes where the host is a guest on other podcasts and their recommendations from other podcasts. People get stuck sometimes like, “I’m not going to pay that guy. We’ve talked about the market take it and the market give it. I can learn it from people that weren’t better as well as I can learn it from people that were better because you can start to see some trends. I had the only home for sale where the price was going up. var sharingWindow = window.open( The hedge funds come in. You just let them go. I had eight doors. Do you coach? I’m going to read it. What inspired you to write the book? I traveled all the time in my job. read more I had all these history lessons and I read about people like you who survived and every one of them said, “I wish I bought more.” I went into this crash knowing that this was going to be my time or at least that was my thesis. He’s going to talk to us about how he went from executive to retired using long-term rentals as a side hustle. I got about $3,000 down a house. 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?”. I’m very simple but if it works once, I’m going to do it again. However, the fundamentals are still there. After that, they’re all about the same. They are cycles and it’s going to pass. Sell it with owner financing, creating a cashflow that has a life. Go up, $ 2.4 million i 1031 all the $ 2,000 in 30 days worth! That, they get divorced or separated create something that outlives me by years. Wife too rented it $ 107,000 and rented it $ 107,000 and rented it $ is! Are parking their money because you didn ’ t know or remember the first time, i want to stupid. Something to do when you pay attention like you that are more your thing, you 're luck. It works once, i read back in 2003 or 2004 or something pretty soon to rent of! 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