Escaping The Rat Race With Real Estate Investing
Have you been trying to find ways to escape the rate race at a young age instead of waiting until you’re 65 to retire? Emily and James were able to quit their jobs and escape the rat race in their 20s. They came on the podcast to discuss how they used real estate investing to leave their jobs and travel the world.
Guest bio: James and Emily were just two regular people, working regular jobs, living in a regular town when they found the financial independence movement. They went all in and focused on real estate buying their first property in 2017. Within two years they had 10 units and enough cash-flow to leave their jobs. Now, they’re still two regular people, but they live an extraordinary life of travel and adventure while self-managing their small portfolio.
Resource Links For This Episode
- Rethink The Rat Race Website: Rethinktheratrace.com
- Instagram: @rethinktheratrace
- Twitter: @rethinkratrace
Show Notes & Episode Guide
- 1:17 — Martin starts by asking Emily and James how they escaped the rate race and quit their jobs in their 20s. How did they manage to retire at 28 instead of waiting until 65?
- 2:38 — Emily and James discuss how they found the FIRE movement that inspired them to retire early. How exactly did James convince Emily to focus their resources on retiring early? Emily talks about what it took to get on board with this journey.
- 5:05 — How did they realize they could quit their jobs instead of waiting?
- 6:06 — Emily and James began the journey in 2016 and retired in 2019. How did they make this happen? They share the sacrifices that they had to make.
- 8:14 — They share the details about their first real estate investment and what got them started on this journey. Then they jump into their experiences with handling real estate issues that come up.
- 11:35 — How did Emily and James know that 11 rental units were enough to retire on? They share how they moved to Europe to reduce their expenses.
- 13:52 — We discuss the idea of house-sitting in Europe and how this could help you save some money on your living expenses.
- 16:04 — Did they hire a property manager to watch their rental units on Airbnb? We discuss real estate issues and property management problems that could arise.
- 20:15 — Emily and James discuss how many of their properties are on Airbnb and how many are short-term rentals. Are they hands-on or hands-off with their management?
- 22:00 — How did they manage Airbnb rentals remotely? What does the setup look like? How did they find the right staff that they could trust with cleaning? They break down tips for finding the right staffing.
- 26:43 — Is hiring friends and family for your real estate business a good idea? We dig into this complex topic.
- 28:30 — How do you find the right area for an Airbnb property to invest in? They share their formula for finding the right location and unit.
- 32:00 — We discuss how you can make really good money by renting out your place during the busy season to escape town.
- 33:21 — How do you get five-star reviews for your Airbnb property? Emily and James share their secrets to ensure they always get five-star reviews.
- 38:08 — How does someone try to do what Emily and James could pull off? What advice do they have for rookies?
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