Real Estate Investing to Financial Independence
On this episode of Martinis and Your Money, I’m talking to Chad “Coach” Carson about how he built a real estate portfolio from scratch – with no background in real estate whatsoever – and about how this portfolio has afforded him the dream of financial independence. Chad’s story of hard work and determination was inspiring to me, and I hope it inspires you to achieve your own financial goals! Cheers!
What are we drinking?
Chad — Sam Adams Bonfire Blonde
Shannon — Mimosa with Cava
- In college, Chad was actually a biology major, not a business major.
- When he was 22, he chose to take some business classes and then decided to invest in real estate and acquire some rental properties.
- One of his business professors was the person who put up the money for Chad’s first property.
- He learned how to find good real estate deals, and that is one reason investors wanted to invest in him.
- 14 years later, Chad, along with his business partner, now have 90 property units in Clemson, South Carolina.
- His big picture goal from the very beginning was to purchase long-term hold properties.
- The first few years of being in business, he lived very frugally and saved most of the money he earned.
- He and his business partner also established personal relationships with their lenders.
- After purchasing 30 properties this year, they hired a 3rd-party management company to manage their 90 units.
- Chad’s ultimate goal for building his real estate portfolio was to achieve financial independence.
- In 2009, Chad took a mini-retirement and traveled with his wife for a few months before returning to work.
- Now he has decided to take another sabbatical and live in Ecuador with his wife and two children for an entire year starting January 2017.
- He plans to work remotely while in South America.
- Shannon says the clients she sees get results are the ones that put in the time and energy and work to achieve their goals.
- Chad put in the work and now, at 36, has the opportunity to travel with his family for an entire year.
- TAKEAWAY: Remember the importance of hard work in achieving your financial goals. If you dedicate the time and energy into learning, the same success is achievable for you!
Random Three Questions
- What’s your biggest financial indulgence?
- What is a movie that you could watch over and over again?
- What is one of your favorite TV shows from when you were growing up?
Connect with Chad: