Stick Like Glue Radio #183 On this special episode of Stick Like Glue Radio, I interview best-selling author and coach, Kathy Fettke. Kathy is the author Retire Rich with Rentals and helps people create wealth and freedom with real es-tate. Don’t miss this powerful show!
Stick Like Glue Radio www.getjimpalmer.com
On this special episode of Stick Like Glue Radio, I interview best-selling author and coach, Kathy Fettke. Kathy is the author Retire Rich with Rentals, and helps people create wealth and freedom with real estate. Don’t miss this powerful show!
Main Questions Asked:
- Talk about helping people to retire early.
- Talk about being a mortgage broker.
- Do you have a team of people on your payroll who are overseeing the properties?
- What is the biggest fear that holds people back from buying their first property?
Key Lessons Learned:
- Creating real wealth has less to do about money and more to do with living the way you want with both time and money.
- 80% of new jobs created are for women over the age of 55, which are most likely retail.
Real Estate Investing
- Cash flowing real estate is an option for baby boomers and empty nesters as they retire.
- You don’t have to be wealthy to get into real estate investing, but you do need to have down payments.
- Example: A down payment on an $80K property would be $16K.
- The areas to look for are emerging areas.
- It is possible to qualify for up to 10 conventional loans at 4.5-5% interest rates if you have a good 2-year job history and can show savings and reserves.
- It’s been easier for people buying investment properties to qualify for loans than a homebuyer.
- You can buy 10 properties with $250K investment, which is $20-25K on each property.
- This will give you 10 financed properties. If you take all the cash flow from the 10 properties and pay off one, you will have it paid off in two years.
- In 12 years, you will own 10 properties outright.
- This will give you a million-dollar portfolio free and clear that cash flows about $10K per month.
- Kathy oversees the property managers, and the benefit is learning the best practices. This becomes a mastermind of property management teams that learn from each other.
- The biggest fear is taking on an investment that will make them busier and will end up fixing and flipping.
- The solution is to treat real estate the same way you treat your business, and have other people do the jobs you either aren’t skilled at or don’t want to do.
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