Have you ever worried about how you’ll make ends meet during retirement? Even with a 401K plan, many people cannot support their needs with those funds alone. There is a better way, and today’s guest is here to share how he’s earning passive income in order to build a safer and more comfortable retirement plan!
On this episode of Investing in Real Estate, I’m conversing with new investor, Josh Koth, about how he began his career in investing, and how real estate has helped him consistently reach his financial goals. Josh is sharing all his tips on earning a passive income; it's all here on Investing in Real Estate!
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Josh always knew that real estate investing was an avenue he was interested in pursuing. However, he observed his uncle manage apartment buildings for years, and became aware of the commitment that is property management.
He saw the opportunity in investing, but he realized that if he could hire a property management team, a huge burden would be lifted. Today, he operates on that principle. He never considers a deal, unless he knows he can work with a property manager.
When he started assessing his goals, Josh first calculated his Freedom Number. He decided that if he were to acquire 10-15 rental real estate properties, he would easily be able to support his lifestyle. Once he had a clear picture of where he was going with his real estate journey, he felt confident that his goals were achievable.
Additionally, he planned to replace all of his active income as a self-employed photographer with passive income through buy and hold real estate. Josh recently acquired two additional properties, and is seeing his goals come to fruition. Now he’s decided to adjust his goal, and instead match his active income by 2017.
On today’s show, Josh is elaborating on how he found financing as a self-employed individual. We’ll also go into the details of how he finds the best deals in his area, and his experience pulling all of the funds out of his retirement account.
We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family.
On this episode you’ll learn:
- What is the importance of a trustworthy property management team?
- Can you find traditional financing if you’re self-employed?
- What are the two rules Josh follows in real estate?
- Is it risky to pull funds from a retirement account?
- And much more about buy and hold real estate!