Apr 19 2023
Replacing an MD Income With Passive Income With Zach Lemaster
Are you tired of relying solely on a 401k for retirement? Have you considered real estate investing as a means to achieve financial freedom and generational wealth? In this episode, we have Zach Lemaster, founder and CEO of Rent to Retire, sharing his journey in real estate investing. From leaving the Air Force to building a successful private practice, Zach and his wife diversified their portfolio over 15 years to replace their active income with rental income. They discuss the benefits and risks of investing in commercial and turnkey properties, emphasizing the importance of building a competent team and finding the right partners. Tune in to gain valuable insights into real estate investing and take control of your financial future!Let's dive in! Key Highlights:[00:00 - 05:16] Rent to Retirement CEO Shares Journey to Replacing Two Doctor Salaries with Real Estate Portfolio• Meet Zach Lemaster, founder and CEO of Rent to Retire, with an enormous real estate portfolio spanning multiple markets• Learn how Zach started his journey in real estate investing after leaving the Air Force and moving to Colorado outside of Denver• Discover how Zach and his wife diversified their investments and strategically built their portfolio over time to replace their active income as doctors[05:17 - 10:13] Real Estate Investor Shares Path to Financial Freedom and Changing Deals in the Market• Understand how real estate investing offers control over one's financial future and can help achieve lifestyle goals• Learn about the fundamentals of real estate investing, such as focusing on areas with population and economic growth and positive cash flow• Discover why starting with single-family or small multi-family properties before trading up is recommended[10:14 - 15:11] Real Estate Investor Shares Advice on Mitigating Risk and Building a Balanced Portfolio with Multiple Asset Classes• Learn about the risks involved in commercial real estate deals and why they require different financing• Understand how partnerships can be beneficial for money and operational support, but should be carefully considered• Discover the importance of deal flow in relation to asset class and strategy, and how due diligence and investor-savvy brokers can help[15:12 - 20:03] How to Find Undervalued Real Estate Deals and Invest in Turnkey Properties for Passive Income• Discover the key to finding undervalued real estate deals: marketing dollars and reputation building• Learn about various marketing methods, such as billboards, posters, TV commercials, mail, banded signs, driving for dollars, and interns knocking on doors• Understand the concept of turnkey investing, and how it offers an easy entry into real estate ownership with fully renovated and professionally managed properties for passive income. Discover the important metrics for good turnkey investments, such as at least a 10% cash on cash return, appreciation, leverage, tax benefits, and compounding over time Key Quotes:"It's much harder to obtain financing for those if you don't have a baseline." - Zach Lemaster“Turnkey is a property that is in a market that we've identified to be productive, landlord friendly legislation, low taxes, future population, economic growth.” - Zach LemasterDownload our FREE ebook, The Definitive Guide To Passive Real Estate Strategies.Check out our Multifamily Syndication Group, and sign up for our NEWSLETTER.Wa