Real Estate

18 Houses in the First 18 Months with Paul Thompson

Start slow—or take off like a rocket? When it comes to real estate investing, the choice isn’t the same for all. This week, our guest Paul Thompson made a clear choice: Rocket! After realizing the fragile nature of his six-figure salary, he set out to replace his salary with passive income—as quickly as possible. This led him to average a new home purchase every month for the first year and a half, and soon he had true financial freedom and quit his 9–5. This show is packed full of actionable tips, including some never-before-heard-on-this-podcast strategies for finding deals with the use of virtual assistants, Craigslist, and cold calling! This is one episode for which you’ll need to take some notes, so grab a notebook and let’s get into it!

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In This Episode We Cover:

  • Paul’s backstory prior to real estate investing
  • His first deal doing the BRRRR method
  • What is escape velocity?
  • P.I.L.E. (Passive Income greater than your Living Expenses)
  • How he manages his properties
  • Finding private money lenders through BiggerPockets
  • His system in making offers
  • Things he looks for in each deal
  • How to negotiate for seller financing
  • Subject-to explained
  • Why does he L.I.E. every day?
  • His interesting thoughts about money
  • How he balances his time
  • The third-party catalyst
  • And SO much more!

Links from the Show

Books Mentioned in this Show

Fire Round Questions

Tweetable Topics:

  • “How many deals do you have is the wrong question to ask. It’s how much cashflow are you generating?” (Tweet This!)
  • “Never assume that what is important to you is important to the other party.” (Tweet This!)
  • “There is plenty of money for the things you really want.” (Tweet This!)
  • “You don’t want cash, you want what cash can give you.” (Tweet This!)

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