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

The Lifestyle of Failure

Lifestyle of Failure

Have you ever wondered why some folks struggle financially while others seem to get better with each passing month? Let’s examine 4 different lifestyles describing the relationship these different groups have with money. The Lifestyle of Failure (illustrated below) The Lifestyle of Ordinary The Lifestyle of Success The Lifestyle of Success Secret First, let’s look at a cautionary tale of what not to do by looking at The Lifestyle of Failure. On the left-hand side we are measuring money. Less money is lower, more money is higher. On the bottom is time. The beginning on the left. Later to the … Read more

Ep 19: Norm and Norma Buy 10 Nomad™ Properties with House Hack Roommates

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 19. Today we’re going to continue with  Norm and Norma’s story. In the last episode, we went on a tangent and discussed the impact of requiring more reserves before buying additional properties for  Norm and Norma when Nomading™. In this episode, we’re going to talk … Read more

Overcoming Hurdles to Real Estate Investing

Most real estate investors face similar challenges, hurdles and obstacles: Where do I get my next down payment from? How do I overcome negative cash flow or improve the cash flow I have? How do I qualify for the best loans? How do I find what I’m missing (deals, dream team, partners, tenants)? How do I commit to achieving my real estate goals, get the courage to act despite fear, gain the capabilities I need or eliminate fears? This class helps you solve those challenges and more. Listen to the audio of this for free on the real estate investing … Read more

Ep 18: The Impact of More Reserves when Nomading™

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 18. Today we’re going to take a small tangent with  Norm and Norma’s story. In the last episode,  Norm and Norma utilized a combination of the Nomad™ strategy and short-term rentals. In it I mentioned that we modeled it with minimal reserves. Specifically, to “qualify” … Read more