SPC102 - Starting from nothing + Losing an Apartment + Transitioning from Active to Passive Income with Pat Hiban

YouTube Link: https://youtu.be/dSNwXUhxpLE

Please help the show by leaving a review: http://getpodcast.reviews/id/1118795347

Download the FREE 2018 Rental Property Analyzer for free: https://simplepassivecashflow.activehosted.com/f/14

Pardon the grammar - I'm an Engeneer, Enginere, Engenere... I'm good with math! Here are the Show Notes:

$480k horizontal income

Podcast is not simple passive cashflow

Used commissions to invest into real estate

Started out trading tome for money, working 40 hours a week, and was left with a $100 every week

Sold timeshare presentations

Danny got 3-4 of these a day and was the leader at the time and Pat beat him

Went to college and went to real estate sales where he is making commissions

Discovered horizontal lines - bought SFHs and moved to apartments and other buildings/businesses

Lost 2/3 of initial investment

LTI - After you pay your bills - currently $200K a year

Moving around current investments

18% lawyer loan, some private equity notes, apartment building syndication

Crossed over at age 46 to financial freedom number

Works 3 days a week (Tuesday-Thursday)

Chose to not work as much in 40s

Look where the poor creative lives because that is where the transitioning area is

Robert Kiyosaki says don't buy where there are crane

Alchemist talks about the beginner's luck - Pat started investing in non-real estate investments in 2008 - 50-100K here and there and 50% of them failed

Rip and duplicate things that are working

Real estate rockstar podcast!

Hosted on Acast. See acast.com/privacy for more information.