Video Closed Captioning:
good morning good afternoon good evening
folks michael’s uber one rental at a
time back with this special guest that i
highlighted on the daily financial news
dion how you doing buddy
howdy mike ready for round two thanks
for the invite absolutely man thank you
for stepping up helping out uh this is a
question this is probably the most
common question i get it just comes in
different flavors right
what about this what about this and this
folks is does age matter am i too young
am i too old did i miss out did i do
this so when you when you hear the word
does age matter dan what do you think
actually this question came up in my
live stream last night
somebody said
i just turned 40 am i too late
so that it’s it’s the flavor of the
question where you know i’m 18 can i
start or what does my age matter and the
answer is yes
but you’re only going to get older yeah
exactly so you don’t have a time machine
you don’t have a time machine right um
no benjamin button here exactly so they
say the best time to plan a tree 20
years ago the second best time today
and the person who asked about 40 i made
it to 40 without ever having a thousand
dollars in the bank it was in a ton of
debt a single parent with three kids not
making a lot of money and so i could
have just kept on that same path and now
i would be 50 with a bunch of debt and
not making a lot of money so i started
investing i mean seriously can you
imagine your life
i mean like you didn’t do this like like
for example you’ve talked about that
first house you wanted to get rid of and
you couldn’t which turned out to be your
launch pad let’s just assume somebody
bought it and you never came back can
you imagine what your life would be like
today is that just frightening
it’s
it’s depressing and here’s why
this is gonna this is gonna sound
probable i try to be
not warm and fuzzy but i try not to be
mean this is what’s this gonna be the
meanest thing i say all week probably
the most depressing thing is thinking
that my life would end up like the
people’s lives around me oh yes if they
don’t work chasing the weekend and
they’re they they hate friday or mondays
they dread mondays they look forward to
fridays um
i’m not quite to where every day is
saturday but i don’t know what day the
week it is i’ll do work on a saturday or
a tuesday it doesn’t matter because
build a life you don’t want to escape
comes from making work optional yeah so
that you’re not working a job you have
to for the money
um
so yeah if if i was able to sell that
house and never got investing in real
estate i would never invest in stocks to
me that’s a form of gambling and it just
doesn’t excite me the way real estate
does now so i would be working towards
no pension
with
so
so so security possibly at the end if
it’s still there when we get there
um
no that’s terrifying and yeah
no i mean i sit here now as someone
who’s nearly 50 and realized my journey
you know now is 21 or so years in the
making i go back to that again that
first house i had where the tenant just
screwed me over and if olivia simply had
said instead of keep going
we’re done with it sell it i would have
suffered another loss after suffering
150k loss totally depressed i’d still be
working i’d be traveling even though i
hate airplanes i’d be on an airplane
every freaking day i would probably end
up killing myself just because i worked
so hard and did things i did not enjoy
decades earlier
now i mean it when i say every day
saturday if i didn’t know who i was
talking to i’d have no clue what day it
is
um it’s it’s it’s it is it’s frightening
because i know if i didn’t if that would
have gone differently
i’d be i would be working myself into
the grave
the worst part of what you just said
about
if you if you that first deal went that
way
and you didn’t have the support of your
spouse and you got rid of it and you
were still working
it wouldn’t be that you are working
currently it would be that you have to
work exactly
and and that person that said hey i’m 40
am i too late right now if they haven’t
started they probably have to work yeah
by the time they’re 50 it will be
because 10 years or less you can get to
four and that completely changes your
whole life makes work optional
and i want people to hear that again say
that one more time is that people need
to internalize that it doesn’t you could
be 50 the same answer if you got 10 same
after within 10 years the average person
can reach financial independence and
make work optional just by buying a
rental every couple of years if you did
it every two years that’s five in ten
years but four is life-changing that
that’s where i was at four properties
when i was making more money than i was
making as a police officer after
everything so my take home as a police
officer was less than my take-home with
four properties and i was in a small
town so it wasn’t like i was making a
ton as a cop there yeah
and so if you’re 18
if you’re 40
if you’re 60
delaying the longer you wait
10 years is 10 years it
what i’ve told people because i’ve asked
this so many times
and i pretty much the same answer the
only person i say is if you’ve been
given a
like if you went to the doctors and they
said you had three years left to live
forget it it’s not three years is not
10. just go enjoy the rest and do what
you want but other than that corner case
start doing i had somebody start at 60.
it doesn’t matter what do you want you
want your life to be better start at 60
do you want to give four properties to
your four kids great awesome goal get
going get off your ass
yeah well that’s that’s the point to
getting starting at getting started and
the analogy i like is
try turning the wheel of a car when it’s
parked
yeah once the car is rolling you can
steer and direct it a lot easier get one
or two properties and then you start
experiencing appreciation principal pay
down um rental income on your tax report
you know tax statements so that you your
debt to income starts to be less
important and just just taking those
first few steps
is the hardest part and getting getting
started
is so much harder than
making a six or seven year decision
where you’re just changing the type of
investing you’re doing yeah which is why
i i think it’s important that we’re
making the content we are because the
majority of the people that watch my
channel i haven’t seen a poll on yours
like 64 of the people on my channel
don’t have a rental yet so this is the
the information gathering stage which is
get the basics learn your market and
then start making offers yeah what i can
tell you about my channel is my opinion
every everybody that follows or most
people follow the channel and watch you
know five videos a week they’re in the
real estate business they want to do
this i you don’t come to my channel for
entertainment right i don’t edit videos
no walk out music none of this stuff i
just talk to experts like yourself that
are doing deals every week we’re in this
business so i think that’s what makes my
channel unique and also probably means
it doesn’t grow as fast because i don’t
do entertaining things i guess so i
don’t know well there’s a lot of
information exchanged too when you look
at the facebook group where
you’re even the experts that come on the
show aren’t the only people answering
questions there are people that just
pipe up and say yeah yeah i’ve got this
many units and this type of investing
strategy in your your situation here’s
my answer and you don’t get that
anywhere else yeah it’s amazing yeah
yeah the facebook group is going to
probably go down as one of the best
things i’ve created and it was it was a
happy accident i created it as a
repository for faqs and it has so far
exceeded my expectations so i’m glad we
do it so thank you for being a part of
it nice yeah i look forward to the
questions in there sometimes i look for
questions so anybody watching questions
in there become topics for the three
amigos on thursdays you got it and dan
how can people find you
right here on youtube don’t talk
financial freedom and tuesday afternoons
4 p.m pacific for live streams that’s
awesome man thanks again