Ep 24: Norm and Norma Buy Free and Clear Rental Properties

Pro Tip: Listen to the podcast below and while you’re listening follow along with the charts below. Then, when you’re done, copy the  Scenario to your own Real Estate Financial Planner™ account to change any of the assumptions. Welcome to the Real Estate Financial Planner™ Podcast. I am your host, James Orr. This is Episode 24. Today we’re going to continue with Norm and Norma’s story. Norm and Norma have been sharing some of their ideas for achieving financial independence with some of their friends. One work friend in particular is a little surprised that they’re considering using mortgage debt … Read more

Ep 23: Norm and Norma Do Fix and Flips Then Invest in Rental Properties

Pro Tip: Listen to the podcast below and while you’re listening follow along with the charts below. Then, when you’re done, copy the  Scenario to your own Real Estate Financial Planner™ account to change any of the assumptions. Welcome to the Real Estate Financial Planner™ Podcast. I am your host, James Orr. This is Episode 23. Today we’re going to continue with  Norm and Norma’s story. In the previous episode, Episode 22,  Norm and Norma decided to buy properties that need work, rehabbed them and sold them to generate extra chunks of cash from capital gains. They took that extra … Read more

Ep 22: Norm and Norma Do Fix and Flips Then Invest in Stocks

Pro Tip: Listen to the podcast below and while you’re listening follow along with the charts below. Then, when you’re done, copy the  Scenario to your own Real Estate Financial Planner™ account to change any of the assumptions. Welcome to the Real Estate Financial Planner™ Podcast. I am your host, James Orr. This is Episode 22. Today we’re going to continue with  Norm and Norma’s story. For the last 13 episodes or so,  Norm and Norma really considered buying rental real estate in one form or another. That ranged from buying straight rental properties, to short-term rentals, to house hacking, … Read more

Ep 21: Norm and Norma Consider the BRRRR Method

Pro Tip: Listen to the podcast below and while you’re listening follow along with the charts below. Then, when you’re done, copy the  Scenario to your own Real Estate Financial Planner™ account to change any of the assumptions. Welcome to the Real Estate Financial Planner™ Podcast. I am your host, James Orr. This is Episode 21. Today we’re going to continue with  Norm and Norma’s story. In the last few episodes,  Norm and Norma were considering utilizing variations of the Nomad™ real estate investing strategy but they’re wondering how the Nomad™ real estate investing strategy might compare to some alternative … Read more

Real Estate Investor Rubicons

The recording failed so there is no recording. Topics discussed include: Definition of Rubicon and Milestone and how they relate to real estate investing Dan Sullivan’s The Gap and The Gain and Ben Hardy and Dan Sullivan’s The Gap and The Gain Charlie Munger’s idea that the first $100K is the hardest Math and a series of charts and tables showing why the first $100K is the hardest A discussion of ideas from Mike Summey’s book The Financial Security Bible: How to Build Wealth and Be Happy including: The Lifestyle of Failure The Lifestyle of Ordinary The Lifestyle of Success … Read more

First $100K Is The Hardest

First $1MM

Charlie Munger said: “The first $100,000 is a bitch, but you gotta do it. I don’t care what you have to do – if it means walking everywhere and not eating anything that wasn’t purchased with a coupon, find a way to get your hands on $100,000. After that, you can ease off the gas a little bit.” But, why? What’s the math behind his statement? Saving Your First $100K Let’s look at the math together. Assume for a moment that you’re able to save $10,000 per year. And, let’s further assume that you’re able to earn 7% per year … Read more

Ep 20: Norm and Norma Consider The Ultimate Real Estate Agent Retirement Plan™

Pro Tip: Listen to the podcast below and while you’re listening follow along with the charts below. Then, when you’re done, copy the  Scenario to your own Real Estate Financial Planner™ account to change any of the assumptions. Welcome to the Real Estate Financial Planner™ Podcast. I am your host, James Orr. This is Episode 20. Today we’re going to continue with  Norm and Norma’s story. Over the last few episodes,  Norm and Norma have really been considering utilizing the Nomad™ real estate investing strategy. In each of those episodes, they’re looking at buying 10 properties to live in that … Read more

The Lifestyle of Success Secret

Lifestyle of Success Secret

So far, we’ve already discussed how to fail, how to be ordinary and how to be successful in the previous 3 parts: The Lifestyle of Failure The Lifestyle of Ordinary The Lifestyle of Success The Lifestyle of Success Secret (illustrated below) Now, let’s examine The Lifestyle of Success Secret to see how financially successful folks deal with their Daily Standard of Living and their Overall Standard of Living. Same set as previous parts: money measured on the left and time measured on the bottom. Money increases from bottom to top. Time increases from left to right. The money they earn … Read more

The Lifestyle of Success

Lifestyle of Success

We’ve covered The Lifestyle of Failure and The Lifestyle of Ordinary. Now, we will move on to part 3 in our series on examining how folks handle their money and how it impacts their financial security by talking about The Lifestyle of Success. The Lifestyle of Failure The Lifestyle of Ordinary The Lifestyle of Success (illustrated below) The Lifestyle of Success Secret In the The Lifestyle of Failure, we saw people living beyond their means and using debt that led, ultimately, to bankruptcy. In the The Lifestyle of Ordinary, we saw people living below their means and investing but spending … Read more

The Lifestyle of Ordinary

Lifestyle of Ordinary

This is part 2 in our series on examining how folks handle their money and how it impacts their financial security. The Lifestyle of Failure The Lifestyle of Ordinary (illustrated below) The Lifestyle of Success The Lifestyle of Success Secret In the previous part, we discussed the The Lifestyle of Failure where people were using debt to live beyond their means. Now, let’s examine The Lifestyle of Ordinary. Just like before… on the left-hand side we are measuring money. Less money is on the bottom, more money is toward the top. Along the bottom of the chart is time. Earlier … Read more