Podcasts about aggressive retirement

We all go through challenging life experiences, be it the loss of a loved one, a serious illness, or painful divorce.And the last thing we need in those circumstances is to worry about money.But what is the best way to build the kind of passive income you need to make it through tough times without stressing about finances?Rachel Richards is the creator of Money Honey, a financial education platform that helps young women manage their money effectively and achieve financial freedom.Rachel achieved her own financial independence at the age of 27 with a portfolio of 38 rental units, and she is the bestselling author of Money Honey and Passive Income, Aggressive Retirement.On this episode of Financial Freedom with Real Estate Investing, Rachel explains how she and her then-husband leveraged real estate to reach a passive income goal of $10,000 a month in just three years.Rachel shares her definition of financial independence and describes how it gave her the opportunity to escape to Italy and heal from a painful divorce.Listen in for Rachel's insight on rebuilding after a challenging life experience and learn how real estate can give you the financial independence to pursue what you love!For full episode show notes visit: https://themichaelblank.com/podcasts/session384/

On this encore episode of the Passive Income Attorney podcast, Seth is joined by Rachel Richards as they talk about educating millennials on how to work their way out of financial despair, given the lack of financial education in the current system. Rachel is a former financial advisor who quit her job and retired at 27 by turning to passive income. She shares her journey, including her books, Money Honey” and “Passive Income, Aggressive Retirement.” Enjoy the episode! “Don't be a control freak; just accept you're gonna make mistakes, and that's a part of it.” HIGHLIGHTS: Here's a breakdown of what to expect in this episode: Motivation to learn financial independence and real estate investing in high school Wrongs of being a financial advisor, as told by Rachel Real estate investing as a plan B after quitting from being a financial advisor Passively investing in syndications versus direct ownership of single-family or duplex properties How to figure out your best investment strategy towards financial freedom What pushed Rachel to write her book And so much more!   ABOUT | RACHEL RICHARDS: At the age of 27, Rachel Richards quit her job and retired, living off $15,000 per month in passive income. Rachel is the bestselling author of “Money Honey” and “Passive Income, Aggressive Retirement.” She is a former financial advisor and a real estate investor with almost 40 rental units. By making the topic of money management fun, entertaining, and simple, Rachel has helped thousands of millennials work their way out of financial despair.   FIND | RACHEL RICHARDS: Passive Income Starter Kit: www.moneyhoneyrachel.com/bonus Instagram: www.instagram.com/moneyhoneyrachel Website: www.moneyhoneyrachel.com  

At the age of 27, Rachel Richards quit her job and retired. She is now living off $20,000 per month in passive income. Rachel is the bestselling author of “Money Honey” and “Passive Income, Aggressive Retirement.” She built a real estate portfolio of 38 rental units by the age of 26. She makes the topic of money management fun, entertaining, and simple for her 250,000+ millennial followers. We talk about the advantages of being an out-of-state landlord, her mental health journey during her busiest years, how she's reframed failure, and making sacrifices while scaling up. Rachel also shares some incredible investment hacks, like operating a cash-efficient boarding house and leveraging a real estate license to better survey a market's listings.Rachel helps women feel excited, capable, and confident about their financial futures. And listeners, just wait because Rachel is vulnerable, honest, and is going to help you just keep going right now, especially if you're going through something tough. This is the episode for you.To learn more, and for the complete show notes, visit: http://thanksforvisiting.meResources:• #STRShareSunday: @archhouse_wa• Passive Income: www.moneyhoneyrachel.com/passiveincome • Website: www.moneyhoneyrachel.com• Instagram: www.instagram.com/moneyhoneyrachel• Money Honey: https://amzn.to/3QhLVyH• Passive Investment, Aggressive Retirement: https://amzn.to/43E2OqhThanks for Visiting is produced by Crate Media.Mentioned in this episode:Hostfully | Sign up today and use coupon code THANKSFORVISITING to get 2 Free Guidebooks!Sign up at Hostfully.comMinoan | Minoan helps short-term rentals and boutique hotels enhance their appeal with their customizable, curated retail platform.Visit MinoanExperience.com and tell them TFV sent you!Hosting Business Mastery Method | Join us for our live, free, host masterclass and learn how to OWN your digital real estate!Sign up at hostmasterclass.com.TFVCON | Join us September 24-26 in Columbus, Ohio for TFV CON 2023!Grab your spot now at tfvcon.com.Breezeway | Breezeway is our favorite all-in-one property operations and messaging app. We use Breezeway to standardize our cleaning, maintenance, and inspection processes and automate guest messaging to deliver a quality experience. Their photo checklists make it easy to verify detailed work in real-time and make sure nothing falls through the cracks. Best yet, TFV listeners get free implementation!Sign up today at Breezeway.io/TFV

On this encore episode of the Passive Income Attorney podcast, Seth is joined by Rachel Richards as they talk about educating millennials on how to work their way out of financial despair, given the lack of financial education in the current system. Rachel is a former financial advisor who quit her job and retired at 27 by turning to passive income. She shares her journey, including her books, Money Honey” and “Passive Income, Aggressive Retirement.” Enjoy the episode! “Don't be a control freak; just accept you're gonna make mistakes, and that's a part of it.” HIGHLIGHTS: Here's a breakdown of what to expect in this episode: Motivation to learn financial independence and real estate investing in high school Wrongs of being a financial advisor, as told by Rachel Real estate investing as a plan B after quitting from being a financial advisor Passively investing in syndications versus direct ownership of single-family or duplex properties How to figure out your best investment strategy towards financial freedom What pushed Rachel to write her book And so much more!   ABOUT | RACHEL RICHARDS: At the age of 27, Rachel Richards quit her job and retired, living off $15,000 per month in passive income. Rachel is the bestselling author of “Money Honey” and “Passive Income, Aggressive Retirement.” She is a former financial advisor and a real estate investor with almost 40 rental units. By making the topic of money management fun, entertaining, and simple, Rachel has helped thousands of millennials work their way out of financial despair.   FIND | RACHEL RICHARDS: Passive Income Starter Kit: www.moneyhoneyrachel.com/bonus Instagram: www.instagram.com/moneyhoneyrachel Website: www.moneyhoneyrachel.com  

Huge cash flow after selling most of your real estate portfolio!? Many rookies assume that having more doors equates to more profit, but that's not always the case. The truth is, if you start identifying the best investing strategy for your property, you can make more cash flow while owning fewer units. Today's guest has had small and large portfolios alike and has succeeded with both! In this 300th episode of the Real Estate Rookie podcast, we catch up with past BiggerPockets guest, full-time real estate investor, and two-time best-selling author Rachel “Money Honey” Richards. After 2022 threw her several curveballs, Rachel made the tough decision to sell her thirty-eight-door real estate portfolio and start over. A nomad at heart, Rachel turned her attention to house hacking—a strategy that gives her a place to live while allowing her the freedom to travel six months each year. Whether you have one door or one-hundred doors, you won't want to miss out on the important lessons Rachel shares in this episode! She talks about beating analysis paralysis, using a solutions-oriented approach when looking for deals, and when it makes sense to use multiple rental strategies at once. But that's not all, we'll also get into creative financing, choosing a real estate niche, finding the best contractors for rehab projects, and more! In This Episode We Cover How to build (or rebuild!) your real estate portfolio from square one Beating analysis paralysis by finding your real estate niche How to apply a solutions-oriented approach to analyzing deals Using multiple rental strategies to maximize your cash flow Networking to find the best lenders and contractors for your properties Leveraging creative financing to help fund your real estate deals And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Retiring in 2 Years Through “Aggressive” Rental Property Investing with Rachel Richards Early Retirement by 30 with $20K/Month in (Actually) Passive Income Divorce: The Biggest Marriage and Money Mistakes to Avoid Rookie Reply: Creative Financing 101 with No Cash, Credit, or Credentials A Step-by-Step Guide to Estimating Rehab Costs w/ Master Flipper & Investor James Dainard (Part 1) Finding Contractors, Renovation Red Flags, and Estimating Rehab Costs (Part 2) w/ James Dainard How Nancy Rodriguez from ‘Love Is Blind' Hit Financial Freedom BEFORE Fame Books Mentioned in this Episode: The House Hacking Strategy by Craig Curelop Money Honey by Rachel Richards Passive Income, Aggressive Retirement by Rachel Richards Connect with Rachel: Rachel's BiggerPockets Profile Rachel's Instagram Grab Your Free Passive Income Starter Kit Check the full show notes here: https://www.biggerpockets.com/blog/rookie-300 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Rachel Richards is a former financial advisor turned real estate investor and bestselling author of two books! Her passion for financial literacy stems not only from her experience as a financial advisor, but also as a witness to the lifestyle that comes with financial freedom. Rachel has sustained her incredible success as an investor by diversifying her income streams and sticking to the goal-oriented mindset she established from the very beginning of her journey. Her most recent book, Passive Income, Aggressive Retirement, details her secret to freedom, flexibility, and financial independence!   Hear Rachel discuss: How she achieved financial freedom at the age of 27! Her early experiences buying rental properties both in and out-of-state How her first book came to fruition and the positive impact it has continued to provide The many lessons she learned as an independent investor and property manager Passive income opportunities that can be leveraged by anyone in today's economy   …and so much more!   You can learn more about Rachel and her work on her website: https://moneyhoneyrachel.com/. If you are interested in reading any of her books, you can find them online here: https://www.amazon.com/stores/author/B072M1ZD4X. Make sure to follow Rachel on social media as well (@moneyhoneyrachel) to keep up with her latest content!   Music: “Higher Up” by Shane Ivers

"Financial independence is so much bigger than quitting your job and traveling the world... Sometimes it's a matter of survival." - Rachel Richards, Author of "Money Honey" and "Passive Income, Aggressive Retirement"Passive income is the ideal wealth-building goal.  So how do YOU build it?Tune in for essential, transparent tips from Rachel about real estate investing, syndication and building the life you've dreamed of, especially when the dream crashes.Download her FREE guide to passive income at https://moneyhoneyrachel.ck.page/passiveincomeYou can also find her on Instagram @moneyhoneyrachelReady for more? Learn how to create multiple streams of passive income in my book, Building Indestructible Wealth. You can also access The Indestructible Wealth Builder, (the system I used to go from $300 to $8 million in net worth), and ...

Episode 197 talks about navigating divorce as an entrepreneur, featuring Rachel Richards of Money Honey Rachel Inc. Listen now! At the age of 27, Rachel Richards quit her job and retired. She is now living off $20,000 per month in passive income. Rachel is the bestselling author of “Money Honey” and “Passive Income, Aggressive Retirement.” She built a real estate portfolio of 38 rental units by the age of 26.She is a former financial advisor, and has been featured in CNN and Business Insider. By making the topic of money management fun, entertaining, and simple for her 250,000+ millennial followers, Rachel has helped thousands of millennials work their way out of financial despair.You can follow Rachel on Instagram, Facebook and TikTok. Download Rachel's Free Passive Income Starter Kit today!For full episode show notes, visit here. Listen to Rachel's 1st episode "How To Create Passive Income" here.Loving episode 197? Leave us a review if you're listening on Apple podcasts and be sure to follow us on Instagram, Facebook, Twitter and YouTube!Until next time, stay empowered, stay inspired and #staypoderosa ✨Get our exclusive Yo Quiero Dinero® merchandise available now!WANT TO KICKSTART YOUR FINANCIAL JOURNEY?Download our FREE 14-page guide covering all the topics you need to start making your dinero moves. Visit here. Become a member at https://plus.acast.com/s/YoQuieroDinero. Hosted on Acast. See acast.com/privacy for more information.

Today we've got guest Money Honey Rachel on! At the age of 27, Rachel Richards quit her job and retired. She is now living off $20,000 per month in passive income. Rachel is the bestselling author of “Money Honey” and “Passive Income, Aggressive Retirement.” She built a real estate portfolio of 38 rental units by the age of 26. AKA... She's a total baddie. And in this week's money tip, we're talking about my all-time favorite type of investment: index funds.Get the FREE Passive Income Starter Kit here: https://moneyhoneyrachel.ck.page/passiveincomeFollow Rachel @moneyhoneyrachel Find me on social media at @clobaremoneycoachPlease rate and subscribe to support this channel!Grab your free money guide here: https://www.thelazyinvestorscourse.com/guideJoin Clo Bare for a free investing class here: https://www.thelazyinvestorscourse.com/webinarTERMS AND CONDITIONS

Episode 169 talks about how to create passive income, featuring Rachel Richards of Money Honey Rachel Inc. Listen now!At the age of 27, Rachel Richards quit her job and retired. She is now living off $20,000 per month in passive income. Rachel is the bestselling author of “Money Honey” and “Passive Income, Aggressive Retirement.” She built a real estate portfolio of 38 rental units by the age of 26.She is a former financial advisor, and has been featured in CNN and Business Insider. By making the topic of money management fun, entertaining, and simple for her 250,000+ millennial followers, Rachel has helped thousands of millennials work their way out of financial despair.Download Rachel's Free Passive Income Starter Kit today!For full episode show notes, visit here.Loving this episode? Leave us a review if you're listening on Apple podcasts and be sure to follow us on Instagram, Facebook, Twitter and YouTube!Until next time, stay empowered, stay inspired and #staypoderosa ✨WANT TO KICKSTART YOUR FINANCIAL JOURNEY?Download our FREE 14-page guide covering all the topics you need to start making your dinero moves. Visit here. From money mindset, to budget basics, we've got you covered. Our GDPR privacy policy was updated on August 8, 2022. Visit acast.com/privacy for more information. Become a member at https://plus.acast.com/s/YoQuieroDinero.

Do you want to work only because you want to and not because you have to?   Rachel Richards has built a real estate portfolio of 38 units by the age of 26 and is now passively earning $20,000 per month. In this episode, she tells us how she stopped trading time for money by investing and opening up passive income streams other than real estate. She also shares why she continues to work and find ways to challenge herself even after “retiring” and achieving financial independence.   Rachel Richards is the best-selling author of “Money Honey” and “Passive Income, Aggressive Retirement.” Listen in to know more about her journey!   [00:01 - 07:54] Living off of $20,000 in Passive Income Monthly Rachel on being a finance nerd and on her experience in the industry Why people should look for off-market deals This is how she found their first duplex From self-managing to hiring property managers to self-managing again The biggest mistake they made so far Don't be cheap! Owning real estate out of state   [07:55 - 14:15] Passive Income Strategies You don't have to own a rental property to generate passive income Self-publishing and making $4,000-$10,000 a month  Rachel's goal to make income more and more passive Being a limited partner Setting boundaries and being more intentional  Looking at opportunities in mobile home parks and self-storage Screening syndications and doing due diligence   [14:16 - 17:55] Creating Impact Through Her Work Living freely and having time for things that fulfill them Writing to inspire others, especially women Doing what serves them and the people around them   [17:56 - 19:06] Closing Segment Reach out to Rachel!  Step into the path of financial freedom with Rachel's FREE Passive Income Starter Kit! Links Below Final Words Tweetable Quotes   “Being cheap can cost you a lot more money in the long run. This is not the place to cut corners when you hire people like contractors and property managers.” - Rachel Richards “Don't be afraid to invest out of state. It really forces you to be an efficient property manager and owner of real estate.” - Rachel Richards “I want to make a big impact and help as many people as I can. That's what I'm passionate about, especially helping women.” - Rachel Richards -----------------------------------------------------------------------------   Connect with Rachel! Follow her on Instagram and visit her website, Money Honey Rachel. Get her FREE Passive Income Starter Kit, and check out her books, Money Honey and Passive Retirement, Aggressive Income, to know more about money management, personal finance, and investing!   Resources Mentioned: Rich Dad Poor Dad by Robert Kiyosaki HOLD by Steve Chader The Hands-off Investor by Brian Burke Connect with me:   I love helping others place money outside of traditional investments that both diversify a strategy and provide solid predictable returns.     Facebook   LinkedIn   Like, subscribe, and leave us a review on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on.  Thank you for tuning in!   Email me → sam@brickeninvestmentgroup.com Want to read the full show notes of the episode? Check it out below:   Rachel Richards  00:00 The great thing about moving away is that we've been forced to streamline, and systematize all of our processes and doing that has made self-managing so much easier. I was so afraid to move away. But owning real estate in another state is so freeing and it's a lot easier than I thought. So if that's anyone's hang-ups if you're listening, to don't be afraid to invest out of state, it really forces you to be an efficient property manager and owner of real estate.   Intro  00:27 Welcome to the How to Scale Commercial Real Estate Show. Whether you are an active or passive investor, we'll teach you how to scale your real estate investing business into something big.    Sam Wilson  00:39 Rachel is the best-selling author of Money Honey and Passive Income, Aggressive Retirement. She built a real estate portfolio of 38 units by the age of 26. Rachel, welcome to the show.   Rachel Richards  00:50 Hey, Sam. Thanks for having me.   Sam Wilson  00:52 Hey, pleasure's mine. Three questions I ask every guest that comes on the show: 90 seconds or less, where did you start? Where are you now? How'd you get there?   Rachel Richards  00:58 I started my real estate investing journey in 2017. My husband and I purchased our first duplex that year. And within two years, we scaled our real estate portfolio from zero to 38 units. When people hear that they make some assumptions. So I'll get those out of the way. I'm not a trust fund baby. And I never made six figures from a job or career. So let's see, where am I? Now I am now investing in syndications. I've invested in eight syndications as LP as a passive investor, and I'm now financially independent and living off $20,000 per month in passive income.   Sam Wilson  01:35 Wow, that is really cool. Congratulations and a job well done. Zero to 38 units in over how many months was that?    Rachel Richards  01:43 24.   Sam Wilson  01:44 24 months. Okay, so you're buying a property? We're actually more than one and a half properties a month.   Rachel Richards  01:50 It was six buildings. 38 doors.   Sam Wilson  01:53 Six buildings. 38 doors. That helps. So you're not, one and a half transactions every single month. Got it? Six buildings. 38 doors. That's cool. Absolutely. Love it. Is this tell me? Is this all you're based in Denver, Colorado? Is this all in Denver?    Rachel Richards  02:06 This was all in Kentucky where I lived for 20 years.   Sam Wilson  02:10 Okay, cool. So you had some experience, obviously, in the local market there? What did you do? I mean, to identify that many assets and that short of a time, what were you doing to do that?   Rachel Richards  02:21 So I've always been a finance nerd. And my whole life proud of it. And I read Rich Dad, Poor Dad in high school. I, after college, I was a financial advisor. I also took a couple of jobs, working with a real estate investor and learning from him, and then working under a realtor. So I did have some experience in the industry. And I read every book I could get my hands on. One of my favorite ones is this book called Hold by Steve Chader. That one was really helpful in learning how to analyze properties. One of the important things I think, for people to do right now is look for off-market deals because the market is so intense. The MLS is saturated and competitive. And it's really difficult to find good deals if all you're doing is looking at the MLS. One of the ways we found our first duplex was pretty much an off-market deal. So we looked at the withdrawn and cancelled and expired listings on the MLS. And I was reaching out to those list agents to find out what happened. You know, why did the seller take it off the market? Did they change their mind? Are they is it going to come back up? And I remember feeling like I was pestering this one list agent about this duplex for months. But really, I was just trying to be polite and stay top of mind. And when the seller was going to relist it, she reached out to me first and she said, Hey, this is about to come back on the market. Would you like to make an offer, which was really beneficial because I could make my offer before anyone else did. And that is how we got that first duplex.   Sam Wilson  03:45 Wow, that's cool. Now, did you self-manage these? Or do you self-manage these? Are these be plugged in the property management company? How do you handle that?   Rachel Richards  03:54 We self-managed until we got to about 26 units, I think. And here's the thing, my husband and I were working full time. So we were working 40 to 50 hours a week, I was writing my book in the evening. And we were acquiring and managing our rental properties on our own on the weekends and everything. So once we got to 26 units, we were like we definitely need a property manager. And we've made our share of mistakes, hiring property managers as well. But now to this day, we're back to self-managing.   Sam Wilson  04:20 Okay, that's really Yeah, that's interesting, because you at some point, you're right. You need that outside help. But it sounds like there were some mistakes made along the way where that help wasn't so very helpful.   Rachel Richards  04:30 Absolutely. This is our biggest mistake to date. So my mistake is that I tend to be too cheap and being cheap can cost you a lot more money in the long run. This is not the place to cut corners. When you hire people like contractors and property managers. You don't cut corners here. So what we did is we were looking for a property management company and we you know, they charge you anywhere from 10 to 12%. And we had this couple that was working for us doing things like maintenance lawn care, they were so hard working, some of the hardest working people we've met, and they always went above and beyond. So we figured let's make them employees of our company, and they can be our property managers. We can save some money and be a little more hands-on in the way that we are training them and managing them to manage our properties, felt like a win-win, right? It was not, it was not a win-win. It was a win-lose. So everything started off great. And then about six months in my husband went to pick up rent from the onsite lockbox is one weekend, and he noticed a lot of rent was missing. And it was not just the normal tenant or to paying late, it was a significant amount. So come to find out this couple had stolen $6,000 in rent that weekend. And we found out they had been squatting in vacant rooms and units in our properties for almost a year. Devastating. Yeah, it was one of those occurrences where I was like, we should quit. This is not meant for us. This is awful. And that lasted for a few days. And I got over it, but it was devastating and such a violation of trust. And the moral of the story is that, again, this is not the place to be cheap. You need to hire a licensed, insured, properly-permitted, you know, everything reputable property management company, because if we had done that, and one of their employees had stolen rent from us, they would have been liable for the damages, not us. So it's embarrassing to share. Because in retrospect, it seems so obvious. It's so naive of us to have done that, but I share it in the hopes that others will learn from my mistake.   Sam Wilson  06:24 Yeah, no, thank you for taking the time to share that that is painful. I mean, I'm curious, you said your husband had gone to pick up rent from the on-site lock boxes. Now you live in Denver, and these properties are in Kentucky. So were you flying back to go pick up rent monthly?   Rachel Richards  06:39 No, we were still living there at the time. So we only moved to Denver a couple years ago.   Sam Wilson  06:43 Got it. Okay, cool. Wow, that's really intense.   Rachel Richards  06:46 Yeah. Now, we're not quite that dedicated. But the great thing about moving away is that we've been forced to streamline, and systematize all of our processes. And doing that has made self-managing so much easier. I was so afraid to move away. But owning real estate in another state is so freeing, and it's a lot easier than I thought. So if that's anyone's hang-ups if you're listening, that don't be afraid to invest out of state, it really forces you to be an efficient property manager and owner of real estate.   Sam Wilson  07:16 You know, I've heard that and I, let's see, do I own anything? I own stuff that's four hours away. So it's, you know, I guess that's, I mean, obviously involved as a general partner on deals that are much further away than that. So I get it. Yes, I'm trying to remember what that state where you're mentioning, we're allowed to and maybe hearing this and going, Gosh, I can't quite wrap my head around it. But you does all the things you just mentioned, where it's like, oh, you know what, I've got to find a way to solve this without going to the property. Got a way, to find a way to solve this, we're now taking all electronic payments, there's no checks, there's no cash being dropped off, like this is the way we do business. That's, in fact, a very freeing, freeing thing to get in place. I think once you've done that, tell me about your self-publishing journey. I know you've written the book. And I know I read the title out here and we kick this off, and I can't remember what it was now. But tell me about the title of that book. And then tell me about what's in the book and why you wrote it.   Rachel Richards  08:08 Yeah, so one of the great things about passive income is that you don't have to own rental property to create passive income. And so a lot of the things that I hear from people is like, well, I don't want to be a landlord, Rachel, I want to create passive income, but I don't want to be a landlord. And the great thing is, you don't have to be a landlord to generate passive income. There's a lot of other ways to do it besides investing in real estate. I have found self-publishing to be an amazing way to generate passive income. So in 2017, I self-published my first book Money Honey and it was the thing I did because I used to be a financial advisor. All my family friends came to me for financial advice, which I loved. At the same time, I thought, Well, why aren't they learning on their own? You know, why aren't they reading books, listening to podcasts? And I had this aha moment where I realized, oh, yeah, personal finance is boring, right? It's overwhelming. It's complicated. It's intimidatin for most people. No wonder people don't like to learn about it. So I thought to myself, How can I make this topic sassy and fun and simple? And that's where the idea for Money Honey came from. So I wrote it. I was really excited. Something I felt very compelled to do. I didn't really think I was gonna make money to be honest. I was so hesitant to invest in it. So I spent like $560 on the book launch thinking I would never make that money back. It was just a passion project. But I published it in September 2017. And to my surprise, to this day, it just took off. It resonated with female millennials, it started selling, spread by word of mouth. I was making $1,000 a month in profit for the first year. And I launched another book. And last year, I believe I made about $99,600, or something and profit from my two books. I was like, so close to becoming a six figure author, but it's still really amazing to think you know, these books now bring in anywhere from four to $10,000 a month in passive profit and it's just an example of you know, you don't have to invest in real estate to create passive income streams.   Sam Wilson  10:05 Right. No, that's absolutely true. I mean, it can be books, it can be other businesses. It can be, you know, a variety of things that you do. Tell me on, since we're talking about the money side of things. I know you said you're making about 20,000 bucks a month off your rental property off a 38 units. That's over 500 bucks per month profit per unit.   Rachel Richards  10:26 Yeah, and it's not that's including all my passive income streams. Okay. Yeah. So at one point, when we had 38 units, we were making 10 grand a month from those 38 units. It was about $260 per door.    Sam Wilson  10:26 Got it. Okay. Yeah, I was gonna say that's, it sounds pretty incredible. 500 bucks a door in profit every single month. So that's really, really awesome. Now, you're a limited partner in eight syndications, why are you going this direction, and not buying more active real estate?   Rachel Richards  10:55 So great question, real estate investing for my husband and I was always a means to an end, we never wanted to build this huge empire. And our goal was to get to 10k a month in profit from our rentals. And once we did that we wanted to stop, that was sort of our fat fire number. We could become financially independent and not have to work anymore once we got that number. So in 2018, we achieved that, and we stopped acquiring real estate and it shocked some people, you know, they were like, Well, why not build an empire of 200 doors or 250 doors? And we were like, well, that's not what we want to do. So we stopped. And I'm proud that we were able to do that, because you can really get caught up in you know, enough is never enough. And sort of always moving that goalposts further, but we were able to stop and be intentional about what we wanted to do with real estate. So that was why we stopped acquiring. Now why we've transitioned things is because the goal is to always make the income streams more and more passive. And back then when we were building up this empire, we had a lot more time than money. We started off pretty broke, in my opinion. Again, we didn't have, like I wasn't a trust fund baby. I wasn't making six figures, we were just scraping the money together to get 20% down payments, right? We did have time and we were willing to hustle to make cash flow. Now that we have a lot more money, we would rather invest in syndications, which are a lot more passive. So last year, we sold three of our big multifamily buildings. And we've transitioned that money into syndications. And it's a much more passive way to directly own and invest in real estate. So that's why we sort of change strategies.   Sam Wilson  12:31 Gotcha. Let's talk about what you are investing in right now. Are there certain asset classes you're favoring? Where do you see opportunity as a passive investor?   Rachel Richards  12:42 So I favor multifamily, just because I'm so familiar with it. And I can easily analyze those syndications. So that's my comfort. However, I really want to invest more in self-storage and mobile home parks. Because I think there's a supply-demand thing with self-storage right now. And definitely with mobile home parks, because it's a scarcity thing. It's a limited resource. And there's only so many and you're not allowed to build any more mobile home parks. So I'm really wanting to invest in more mobile home parks.   Sam Wilson  13:07 Right, you obviously talk about mobile home parks, you know, commonly on this show, and you've hit a lot of the highlights that kind of go into why that's still a great asset class, a great asset class to be involved in how have you gone about picking the sponsors that you are working with?   Rachel Richards  13:24 Great question, because picking the sponsor is almost more important than picking which syndication you're investing in. Because really, when you're deciding to invest in a syndication, you're placing your money with the person, you're trusting the person, and you need to find somebody that has enough knowledge, who's done this before successfully, who has the experience, and who's trustworthy. I've heard horror stories of syndicators running off with you know, 50k of somebody's money. And yeah, they'll eventually get caught and get thrown in jail, but someone's not gonna get their money back. So I definitely want to find good trustworthy people. I was making the mistake at first to try to go on Facebook groups and LinkedIn and reaching out to people. But the problem with cold contacting somebody is that no one can speak for them. No one can vouch for them for me. So the best way in my opinion, to find good sponsors or syndicators is to be connected to them through a mutual contact or friend who knows them and trust them and has already invested with them. So that is what I now do. I have a good network. And a book that I really recommend is the Hands-off Investor by Brian Burke. It is so good. It's very dry. It's very technical, even for me, and I'm a finance nerd. But it's something if you read it, like have everything you need to know to screen syndicators and to do due diligence on a syndication.   Sam Wilson  14:43 Righ. Yeah, I think I've read that book before. It's been a while, but I'll put that back on the list. And we'll certainly make sure we reference that. And also the whole book by Steve Chader. Yeah, we'll reference both of those there in the show notes. Questions for you. You said earlier when you guys had hit you or number that you said, Hey, we had units, X number of dollars in passive income. And we don't want to grow any bigger. That's not what we want to do is go bigger. What did you want to do?    Rachel Richards  15:11 We wanted to just live a free lifestyle, we wanted to work when where and if we want, a lot of people get bothered by my use of the word retire, because I still work. I still work on my business, I teach women how to invest in real estate, I have books, I have courses, I have programs. But the thing is, I work now because I want to not because I have to. And we now spend a lot of our time hiking and traveling. And we have free time. And we work again, because we have the choice to work. And that's because we want to do so it's about having the time to do what is fulfilling to us and not have to trade our time for money anymore.   Sam Wilson  15:52 Right. Absolutely. So what does the next five to 10 years look like for you? Because let's presume I mean, at some point, forgive me for my projects, you might be like, I hate this guy. You know, at some point, you know, the book sales may drop off that income stream may dissipate. And then if you're doing courses or some other stuff along the way, do you just keep building some other things that are generating passive income along the way? Is that really the plan? Or is there something there that you guys are shooting big for?   Rachel Richards  16:18 There's I have a lot of ideas, I have a lot of ideas and not enough time to implement them all. But one thing I know about myself is if I'm not building and creating something, I'm bored, so I don't see myself ever stopping or slowing down from that regard, I want to make an impact. And I want to make a big impact and help as many people as I can. That's what I'm passionate about, especially helping women. So I want to write more books, that's for sure. One of my dreams is to write a fiction book, actually, I've thought about becoming a general partner and being a syndicator myself or helping to raise capital. So that's a thought that I have, I definitely want to continue finding ways to invest in real estate, maybe as a silent partner, hard money lender, just continue to find ways to just do more things and challenge myself.   Sam Wilson  17:02 Got it. I love that. I think that's the fun part about it. And I really appreciate how you guys have defined what it is that you want. I think a lot of people, you know, they keep doing like you said they keep adding on to keep moving the goalposts because they see, well, that guy has a billion dollars in assets under management, why shouldn't I? Like, you know, why should I go out and do this or do that. But in the end, it was not what it is that it serves you or the people around you, it's probably not that fulfilling. So you got to do what it is that's in your heart and in your goal list of things to do. So I really admire you and your husband's ability to set limits on it and say, This is what we're building. And then we're done. At least with the real estate, you know, portfolio part. Yeah, obviously, like you said, you're either building or you're bored. You're always gonna be building something.   Rachel Richards  17:47 I think that's my new tagline. I like that I'm either building or I'm bored...   Sam Wilson  17:52 Guys, that's me. I wrote, building or be bored. So yeah. So that's really, really cool. Rachel, I've certainly enjoyed this. Thank you for taking the time, really to come on today and share with us your story of what you have done, are doing in real estate, publishing and everything else. I think it's a really cool story. It's certainly inspiring to the rest of us. If our listeners want to get in touch with you, or learn more about you what is the best way to do that?   Rachel Richards  18:15 Yeah, thank you, Sam, you all can follow me on Instagram @moneyhoneyrachel. And what I'd love to do for your listeners is if anyone wants to download my passive income starter kit, I will give that for free so they can go to moneyhoneyrachel.com/passiveincome to download that.   Sam Wilson  18:33 Awesome. And we'll make sure of course that we put that also in the show notes. Rachel, thank you again. Appreciate it.    Rachel Richards  18:40 Thank you.    Sam Wilson  18:41 Hey, thanks for listening to the How to Scale Commercial Real Estate Podcast. If you can do me a favor and subscribe and leave us a review on Apple Podcasts, Spotify, Google Podcasts, whatever platform it is you use to listen, if you can do that for us, that would be a fantastic help to the show. It helps us both attract new listeners as well as rank higher on those directories so appreciate you listening. Thanks so much and hope to catch you on the next episode.  

Today's episode features Rachel Richards from Money Honey Rachel. At the age of 27, Rachel Richards quit her job as a financial advisor to pursue financial independence and currently generates $20,000 per month in passive income. Rachel is the bestselling author of “Money Honey” and “Passive Income, Aggressive Retirement.” She built a real estate portfolio of 38 rental units by the age of 26. Although she has an impressive portfolio, Rachel is not a "trust fund baby" and never even made 6-figures working in a W2 job. Rachel shares her story with us and mentions some of the ways that everyday folks can get into real estate investing. Surprisingly, it's easier than a lot of people imagine! Connect with Rachel:  @moneyhoneyrachel on Instagram  @moneyhoneyrachel on TikTok moneyhoneyrachel.com Free Passive Income Starter Kit Referenced in this episode:  Rich Dad Poor Dad by Robert Kiyosaki The Hands Off Investor by Brian Burke If you're interested in talking with Haley in further depth about your financial situation, schedule a free consultation here to see if financial coaching is right for you. Schedule free consultation here We want talk with YOU about your highs and your lows so we can normalize conversations about money with normal people. If you are interested in chatting with us and telling your story, or asking us questions, please reach out! Send us an email haley@priceofavocadotoast.com or reach out on Instagram @priceofavocadotoast Do you have a question for us or suggestions for future episodes? Check out our website, linktr.ee/thepriceofavocadotoast, where you can leave us feedback regarding what YOU want to hear more of! You can also email us at haley@priceofavocadotoast.com Follow us on Instagram, Twitter, and Facebook Music and producing done by Bearcatshark. Follow @bearcatshark on Instagram! Music available on all streaming platforms. 

At the age of 27, Rachel, a former Financial Advisor, quit her job and retired.  She is now living off over $15,000 per month in passive income.  Rachel has made a name for herself in the personal finance realm. She is the bestselling author of Money Honey and Passive Income, Aggressive Retirement. She has been featured on the Penny Hoarder and the New York Times and contracted to speak at colleges. She is a former financial advisor, and a real estate investor with almost 40 rental units.  Her valuable lessons have helped thousands of female millennials work their way out of financial despair. She has successfully done what no one has done before: made the topic of money management fun, entertaining, and simple.

Rachel Richards is a real estate investor, best-selling author, professional speaker, and business owner. She began investing in real estate in 2017 and currently owns 35 rental units. At age 27, Rachel is already retired and living off a five-figure monthly passive income stream. Richards published her first book, “Money Honey: A Simple 7-Step Guide for Getting Your Financial $hit Together,” in 2017. It has been sold and downloaded over 10,000 times and has over 400 five-star reviews on Amazon. Her book “Money Honey” is a sassy and humorous take on personal finance that has resonated with female millennials.In her newest book, "Passive Income, Aggressive Retirement," Rachel dives deep into the topic of passive income and financial independence. She explains why building self-sustaining income streams is so brilliant and doable for anyone and everyone. She outlines 28 different passive income models and how to start creating them.Listen in as they discuss:How Rachel got started in finance at a young ageThe model she currently usesTips and advice to achieve a lifestyle that suits youThe nest egg theoryPractical steps to financial independence Three things people lack when venturing into something newGo from a scarcity mindset to an abundant mindset knowing that you can have the best of both worlds if you increase your income ~ Rachel RichardsRachel also shares some of the worst advice she has heard given to millennials in her area of expertise.TIP OF THE WEEKMark: My tip of the week is to learn more and check out Rachel Richard's books, programs, and blogs at moneyhoneyrachel.com.Scott: Check out playhouse.so, it's a TikTok for Real Estate!Rachel: My tip is one of my all-time favorite books called The Millionaire Fastlane by MJ Demarco, it really helps shift my mindset and to be able to see the world not from the consumer perspective but from a producer perspective, snd how entrepreneurship can help you build massive wealth. So it's an eye-opening book and it also has some income ideas, I highly recommend that one.WANT TO LISTEN MORE?Did you like this episode? If so, tune into another one of our exciting episodes with special guest Kirk Chisholm as we discuss how to be innovative in the world of wealth management.Isn't it time to create passive income so you can work where you want, when you want and with whomever you want?

Interview with Money Honey Rachel Richards Real estate investor and author Rachel Richards is part of the Total Life Freedom community that I'm in. She is an amazing entrepreneur. At the age of 27, Rachel quit her job and retired. Living off over $15,000 per month in passive income, she has made a name for herself in the personal finance realm. She has been featured on Penny Hoarders and The New York Times and contracted to speak at colleges. She is a former financial advisor and a real estate investor with almost 40 rental units. Her valuable lessons have helped thousands of female millennials work their way out of financial despair, and she has successfully done what no one has done before: made the topic of money management, fun, entertaining, and simple. Rachel has also been featured on amazing top podcasts, like the FI show and Bigger Pockets. She has also been featured in Business Insider, CNBC, and in Forbes. In this episode, find out these things: How she was able to retire at 27 How she published her first book and why it sold so many copies What her main source of income is Things she learned from going viral on TikTok Six strategies for investing How long you have to stay consistent before you'll be successful Lessons Learned Almost everyone experiences impostor syndrome sometimes. It's normal. Focus on the next step. Consider the gifts you're withholding. How might those gifts help others? Keep going despite any doubters or detractors. The opinions of the people who aren't in the arena like you are don't matter. Have empathy and compassion for your haters. It's a sad person who has nothing better to do than harass someone online. Start as soon as possible. Rachel said even though she started real estate investing young at 24, she would have started even earlier if she could do it over. Be patient; be consistent, do the things you are doing. Never give up, believe in yourself. Don't wait for anyone to give you permission. You have permission. Just do it. Resources Read her books, Passive Income, Aggressive Retirement, and Money Honey 2nd edition (proofread by our own Jennifer Harshman). They're both amazing. Thank you again, Rachel, and thank you all for listening. I'm very thankful to have you guys along this journey, and I will see you on our next episode. Show notes and blog posts brought to you by Harshman Services and RealtorEmails.com John Schuchman is a licensed REALTOR® in Lancaster, PA with Berkshire Hathaway HomeServices Homesale Realty and a part of the Andrew Welk Group. The opinions shared on this show represent the opinions & values of John Schuchman and do not necessarily represent the opinions & values of Berkshire Hathaway HomeServices Homesale Realty. The opinions & ideas shared in this podcast do not guarantee or promise any results of success to the listener. 

At age 27, former financial advisor Rachel Richards quit her job and retired. She now lives off $15,000 per month in passive income. Rachel Richards is the best-selling author of “Money Honey: A Simple 7-Step Guide for Getting Your Financial $h*t Together.” She is an entrepreneur, professional speaker, and investor. In her newest book, "Passive Income, Aggressive Retirement," Rachel dives deep into the topic of passive income and financial independence. She explains why building self-sustaining income streams is so brilliant. She outlines 28 different passive income models and how to start creating them. For most of us, retiring at 27 sounds like a dream, and while it may seem unattainable, it's certainly not impossible, as we learn from Rachel. In today's episode, she sheds light on how real estate played a key role in achieving financial freedom. We learn about her real estate journey so far, the metrics she focuses on, and how she ensures that a property will ultimately be a worthwhile investment. Although the rental income she makes from properties is now passive, Rachel does not sugar coat the effort it took to get her into this position. Episode Links: https://theshorttermshop.com/ https://www.instagram.com/moneyhoneyrachel/ https://www.moneyhoneyrachel.com/ --- Transcript Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals. Michael: Hey everyone, coach Michael here from the Roofstock Academy just wanted to let everyone know we had Avery Carl on our show a while back and she was talking to us about short term rentals and she was actually kind enough to host me on her show as well. Theshorttermshop.com you can find that anywhere you get your podcasts, and I did an episode with her and it's titled dig your well before you're thirsty. We're talking a little bit about my story and some of my coaching background. So definitely go check that out. We want to support her show as well. You'll find the link in the description right below. Let's get back to the episode Michael: What's going on everyone? Welcome to another episode of the Remote Real Estate Investor. I'm Michael Albaum and today with me I have a very special returning guest Rachel Richards of money, honey and today Rachel's talking to us about syndications and also her thoughts, predictions, and where we are in today's market. So let's get into it.   Rachel Richards, thanks so much for coming back with me and hanging out. I really appreciate you taking the time.   Rachel: Yeah. Thanks for having me again. This is so fun.   Michael: Oh, my pleasure. You're one of the really fun one. So we're happy to have you back and so excited to hear and chat with you today, because we're talking about syndications and the current market conditions. So definitely, definitely excited to hear from you. For maybe our listeners that aren't familiar with what syndications are, can you just give us a quick two second definition? What is it, how do they work?   Rachel: Absolutely! Real Estate syndications are one of my favorite things to talk about right now. So let's say there is a $10 million apartment complex, and an investor wants to buy it but she can't afford it, she can form something called a syndication. This allows her to raise money from private investors, people like you and me. So we can pool our money together to buy this large piece of real estate that otherwise we all might not be able to buy. So we can pull our money together, buy this piece of real estate, the cool thing is we are not lending our money to this syndication or to the syndicator. So we're not earning interest, we're actually part equity owners in this syndication, which means we are entitled to a share of the profits. So and the other cool thing is we're limited partners, we are very passive investors. Once we do the due diligence, and we find this indication, and we analyze it and we send in our money. That's all we do. We're not managing tenants, we're not overseeing renovations or day to day operations, you just sit back and you collect a monthly or quarterly cash flow distribution and if the property's ever refinanced or sold, you get to share profits at that point as well, in addition to all the tax benefits you would normally get by owning real estate. So I'm super excited about them. It's one of my favorite ways to invest in real estate and one of the most passive ways I have found to own rental property.       Michael: Yeah, really sounds like it and so it sounds like you kind of meets all the definition of criteria of true mailbox money.   Rachel: Absolutely. It's definitely actual mailbox money.   Michael: That's awesome. All right, so let's dive a little bit deeper and talk about, you know, what are the mechanics involved behind actually getting involved in one of these syndications? Because I think a lot of people when they hear the word syndication, or they hear 10 million or $100 million apartment complex, they think, well, not for me only for somebody else. So how does somebody get involved with participating in syndication?   Rachel: The first thing to be aware of is, you really need to find a good syndicator and people refer to syndicators as different things, sponsors, operators, general partners, GPS. So all those terms mean the same thing. I've heard way a lot of horror stories about people sending in $50,000, to a syndicator. And then the syndicator running off with that money and it's truly scary. Yeah, it's very easy to get scammed and the thing is the syndicator eventually gets caught and gets thrown in jail, but investors typically can't recoup their money. So it's very scary, I don't know anyone that's personally happened to you, I've just heard about this happening online, and, and whatever. So you really need to find a trustworthy syndicator. This is a lot of money that you're sending to somebody, and you need to find an experienced and qualified professional. So let me put it this way, if you're going to spend five hours doing due diligence, make sure you spend one or two hours analyzing the deal itself, and you spend three or four hours doing the due diligence on the syndicator the person you're sending your money to.   Michael: Okay. That's a great way to say it. So really, we're evaluating the person or the operator of the company much more so than the deal itself.   Rachel: Absolutely. Because they're the ones who are ultimately in control of this asset. They're going to be overseeing the renovations managing the tenants. They did all the underwriting there anyone who found this deal negotiated this deal and they're going to be managing it the entire way through until you sell the property. You don't have control as a passive investor, you're not making decisions. So you need to trust that they know what they're doing. They're knowledgeable and they're going to get you the returns that they promised you.   Michael: Okay and you bring up such a great point that they are the ones kind of steering the ship and they should hopefully be the one ones who are experienced, I think of myself as a semi experienced person on the spectrum definitely on the on the ladder on the lower half of the rung when compared to operators and syndicators. But if I'm evaluating a deal, and I'm seeing numbers that really don't make sense to me, or I would underwrite it differently, I mean, how scrupulous should I be underwriting their deal, if they're the operators, they're the really experienced ones doing a massive deal.   Rachel: I would be very scrupulous, especially if it's your first deal that you're doing with that syndicator. So I'm the phrase verify her trust, verify, trust, but verify definitely applies here, I'm always looking at their assumptions, and then double checking. So when you are first looking at investing in a syndication, you will get a deal from a syndicator and they'll send you something called an investor deck, and it's normally a 30 or 50, page PDF presentation and shows you the property and not the pictures, the pictures, the financials and the comps and all this data and that's kind of what you have to review and to make your decision based off of, I'm going through all this data and I am asking myself, do I agree with that? Do I think that's right, do I think that's reasonable?   So there's a few, there's a ton of things I look for. But here's an example: A lot of syndicators who are not as experienced might put in a really large year one rent increase, whereas more experienced syndicators will gradually increase the rents over the three or five years of the hold up the investment term. So if you see, all of a sudden they're going from, you know, they acquired it in year zero, and they're increasing the rents up to the full max amount that they are projecting right away in year one. That's not a very reasonable projection, or a reasonable assumption. So that's something to look out for. Another thing is to just double check the comps in the area, they will have their own comps of you know, here are some of the other, for example, apartment complexes in the area. Here's what they're renting for. Based on these, here's what we think ours can rent for, I would just double check those, make sure the data is accurate. Make sure it's up to date, and they're not pulling comps that are from a year ago, or they're not pulling comps that are 20 miles away, you know, just again, trust but verify.   Michael: Okay, that's so good. That's so so good and I've seen a lot of the syndication, offering memorandums or pitch decks that that I've personally seen, we'll have like a deal track record, showing some of the other deals that they've done and what the returns have been and compared to what they were projecting. Is that something to expect from a syndicator? Is that something that you should have to go get on your own?   Rachel: I think it's something to expect and if it's not shown, I would certainly ask for it. I am very hesitant to invest with a syndicator, who hasn't already exited multiple deals, because then it's really hard to see what has his returns actually been that he's gotten for his investors or for her investors. So what that means if somebody has exited a deal is that they've purchased the asset through the syndication, and then three or five or 10 years later, they've already sold the asset. So all their investors' money have been returned. They know for sure what the actual return was compared to the projected return. The numbers are there, it's it's very black and white and when a syndicator send you those exit deals, it's very clear how the syndicator is doing. Now, here's the thing you want to ask them, though, is hey, are these are you showing all of your exited deals? Or are you just showing the best ones, right? Because they have a good one, they might only just show you the good ones. So one of the best questions I ask any syndicator when I'm sort of interviewing them or screening them is hey, what's the worst deal to date that you've ever done? And how did the returns compared to what you projected? What happened? What did you learn and what are you going to change going forward?   Michael: Oh, that's so good. That's so good and when you're interviewing and screening these folks, are you actually getting the main operational team? Are you getting their sales kind of inbound leads person that's going to tell you what you want to hear? I mean, how far up the food chain so to speak can you get with these some of these folks.   Rachel: You get the main syndicator you get the head honcho, so I'm not I'm never I'm never delegated or relegated to somebody, that's the sales person or the investor relations person. I'm talking to the main syndicator the main sponsors putting together the deal, and that's always who you should expect to talk to.   So basically, I go in anytime that you are introduced to a syndicator or you meet a syndicator, they should always be asking to have a call with you or to have a zoom with you have some type of initial 15 to 20 minute conversation. I feel like it's a red flag if they don't, first of all, a lot of them are required to have some type of preexisting relationship with you before advertising their deals to you. That's an SEC regulation for a lot of not all the time but most of the time, so keep that in mind. If they're not requesting an initial phone consultation, I think it's a red flag and even if they're not required to, it's nice to know that somebody wants to get to know you. They want to get to know your goals and they're giving you an opportunity to get to know them as well and to get to ask them about their experience and their history and what kind of syndications they do. So I think that's a really positive thing when they make the effort to set up a phone consultation with you.   Michael: Oh, that sounds so good as well to keep an eye out for all these great like red herrings kind of gotcha. things to look out for, I think is great.   Rachel: Yeah, it's lot of them.   Michael: It's, it sounds like there's a lot of them. Yeah and so what types of because I've seen that there are syndications for all kinds of different deals multifamily, industrial, self-storage, what kind of syndications are you investing in, it gets you excited.   Rachel: There's so many there are multifamily mobile homes, self-storage, industrial, office, you could kind of syndicate anything, I think, I don't think anything's off limits. The ones that I personally invest in or multifamily, because I'm very familiar with him having on so many multiple multifamily rentals myself, I had a portfolio of 38 doors at one point, by the time I was 26. So being able to analyze those and trust but verify those, it comes very naturally to me. Also, mobile home parks, I think are such a great opportunity right now. It's a supply and demand thing. There's a limited amount of mobile home parks in the US and they're not allowing anyone to create more mobile home parks. But affordable housing is very much needed. So I think mobile home parks is a really great opportunity and then self-storage, I think is a great place to be in because it's another supply and demand issue where there is not enough self-storage for people and people just continue to need a place to store their stuff. I have a self-storage unit, so   Michael: I do too.   Rachel: Yeah, it's like oh, my gosh, we've just been on the road and traveling since May. So it's killing us. They raised our rates by $30 a month and it's like, what what can we do, you know…   Michael: You don't really have much of a choice.   Rachel: You can literally just raise rates on you. So anyways, I think it's a really awesome investment opportunity. So I'm looking to get into that and one of my more unique syndication investments that I'm in is a laundromat in California, which is totally random. But I love that because when you don't have tenants, same thing with self-storage, there's no evictions that you have to go through. So there's no you know, landlord tenant rights issues and that's probably one of the only ways that I would want to invest in California is knowing that I'm not going to have landlord rights being restricted. So with a laundromat, there's no tenants, and it's actually been one of the best performing syndications I've invested in so far.   Michael: Really?   Rachel: Yeah.   Michael: Yeah, that's wild. So are you participating in like so the syndication owns the land or the physical building and the business are or they're leasing to a business?   Rachel: Yeah, they own the property on the business.   Michael: Okay. Oh, interesting.     Rachel: Yeah, it's super interesting. So my cash on cash return. I just looked actually this morning. My cash on cash return on that one so far has been 22%. Yeah.   Michael: Holy smokes!   Rachel: I know.   Michael: And what about rejecting?   Rachel: I think about the same, so.   Michael: But wow. I guess I've heard are like big businesses.   Rachel: Yeah, it's crazy. That one, I was started in November 2020. So so far, it's been amazing.   Michael: Nicely done. That's awesome. Good for you. But yeah, I'm talking back to the self-storage thing. I remember walking in, like, looking around thinking, there's no people here. But there, everyone's paying rent, like all of these units with locks in them are paying rent. It's incredible. No pipes to fix No tenant repair calls to worry about. So I'm like, I think it's a really interesting opportunity. So we were talking about at the beginning of the show how syndications really are the definition and embody so much of what people are searching for in terms of passive income or mailbox money. So it's passive investment, we get a lot of the tax benefits. We get a lot of the upside potential on the exit whenever that happens. But one of the things that we have with direct ownership, as you're very familiar, is loan pay down or leverage and so is there a way to really utilize leverage in a these types of syndication? Can I go to a bank and say, hey, I'm going to go invest in this deal can you give me a loan for it? How does that work?   Rachel: You know, that's a good question. I have never tried to do that. So my answer is that I'm not sure. I would have to get back to you on that.   Michael: Totally.       Rachel: Um, yeah, I don't know. I mean, I think it depends on the bank, you might be able to do with the hard money lender. That's a that's an interesting concept to look at. But, you know, one thing I do want to say about syndications, we've talked about a lot of the positives and I don't want to make it sound like it's this amazing thing.   Michael: The silver bullet.   Rachel: Yeah, like, oh, everything's perfect. There's a lot of cons as well, there's a lot of drawbacks to syndications and I'll list a couple of them. But just like with any investment, there is risk involved, right? Anytime you invest in something, whether it's the stock market or your own rental property or, or anything, you could lose your money. So it's the same thing with this, you could lose your money. And I also think it's a little riskier to because you're trusting another person, right?   It's not like you're relying on yourself, you're relying on another person. So, so there's risk. Also, another con is, I don't really think it's for beginners, this when you invest in a syndication as a limited partner, this isn't something that's for beginners, you really need to have a lot of knowledge and it's better if you have experience to it's better if you've already invested in your own rental properties, because you'll be able to do better due diligence, and you'll be able to do better analysis. Another con that we've already talked about, you have less control, you're not making decisions, which is both a pro and a con, right. You want to be a passive investor, but you have less control over how things are going. If things start to go downhill, there's not much you can do about it. If you notice the management is sliding and people aren't doing a good job, there's not much you can personally do about it.   And then the last con for investing in syndications as a limited partner, is that you have to be eligible to do so. So a lot of these syndications require you to be an accredited investor and a lot of them have minimums of 25 or 50, or $100,000, to invest. Now, when I was starting out as an investor, I was not an accredited investor and I by no means had that amount of money I started off basically broke, I had $10,000 that I scraped and scraped together, not an accredited investor. So there's no way I could have done syndication starting out. But later on in my journey, this is something I've been able to enjoy doing now that I have more money. So I think it's a strategy that you can be intentional about and think about when in my journey, can I start implementing this as a really passive stream of income.   Michael: Love it, love it, you know, I'm just about getting there myself. I'm, I'm gotten to the point where okay, my portfolio size, I'm kind of done with the whole buying and managing and owning thing. I'm ready to let someone else do it now and it sounds like this is the next logical progression.   Rachel: So exciting.     Michael: Thrilled. So Rachel, what's been your worst syndication that you've invested in?   Rachel: Um, I think I haven't looked at all of the numbers on all of them. But I'm pretty sure it's this one multifamily property in Louisville, Kentucky, which I'm so I'm so upset about I know cuz it's my hometown. It's my hometown and so I felt like I should have done, I should have known and I should have been able to do the due diligence. So here's what I think went wrong is that this was my second syndication I invested in and even though I have background in multifamily, I still wasn't, yeah, in Louisville, Kentucky, right. So embarrassing. That that didn't matter so much, because I still wasn't as well versed in what questions to ask the syndicator you know, what should I be looking for? How do I fact check that they know what they're doing and this was a new syndicator.   And I also just wasn't aware of how do I check that they're experienced? How do I check that, you know, I wasn't asking things like I've already talked about in the interview. So I was just kind of going with it. Even though I thought maybe the deal looked good. I wasn't doing the due diligence on the sponsor. So and then it quickly became apparent that things were like the closing, I think was delayed, and I wasn't getting communication from them for a while and I was like, What's going on, and then their reporting was, was not up to par. So when you get reports from your syndicator, it should be detailed financial reports, right? They should be like, here's what we projected, all these different numbers. Here's what you're getting, here's your distribution, here's how it compares. So you should clearly be able to see, are they giving me what they told me that they would get me in terms of a cash flow number. The reports from the sponsor were like, hey, we were able to trim the landscaping back and we repainted the outside, and it was kind of like, I don't need to know the operational stuff you all are doing, I want to know my results as an investor. So it was that kind of stuff and I was like this is kind of weird. But again, it came back to me just being a little bit inexperienced as a investor into syndications and not knowing the right questions to ask. So and I'm not losing money, I haven't lost money. I think so far the cash on cash return has been about 8%. So by no means is it performing badly. I mean, that's that's the worst one return. Yeah, that's that's not including any potential profits for from a refinance or sale. That's just the cash flow. So I'm in good shape. But yeah, I mean, there was definitely some things that I learned from doing that deal.   Michael: Okay. Okay. Well, that's great. Thanks for sharing and it sounds like on that one. I mean, if you had had a different operator, I mean, it doesn't sound like it's an asset issue. It sounds like maybe it's a more of an operator issue.   Rachel: Yeah. And he is experienced as a real estate investor, just not a syndicator, so…   Michael: So one doesn't necessarily translate well into the other.     Rachel: Exactly, exactly and I'm not gonna like bad mouth him, I think he's been, you know, really trying to make this work and really trying to do a good job, he just doesn't have the experience as a syndicator and that's not always a red flag. But what he should have probably done is partnered with a much more experienced syndicator that could have really partnered and teamed up with him on this deal and showing them the ropes. That's what I've seen other new syndicators do at least for their first few deals, so…   Michael: Okay, okay, awesome. Well, this has been super helpful and informative. But I want to switch gears here and I want to get what's going on inside your brain in terms of market insights. Where do you think we're going? How long it's going to take us to get there and what are you doing in the current market cycle and conditions where we find ourselves today?   Rachel: This is my favorite question, Michael. Because everyone's asking me this and, you know, a lot of people are really hesitant and really afraid to buy real estate in this market. So the reason I love getting asked this question is because I love this market.   Michael: What?   Rachel: Yeah, I love this market. I think it's one of the best markets to invest in real estate and there's a lot of reasons why and I'm personally investing in real estate right now as well and buying property in Denver, Colorado, which I personally think is one of the toughest markets. Everyone's using Colorado, the I mean, I know the housing market is just crazy everywhere. But the appreciation and the competitive. The competition here is just through the roof. So I say that because I'm putting my money where my mouth is, I guess, and I'm doing it. I'm doing it. So yeah, I get the uncertainty though I get the hesitation, I get that times are a little bit volatile.   So but I appreciate being asked this question. So I think there's four things that the market has going for it right now that makes it a great time to invest. So first of all, there's a lot of confusion about whether we're in a bubble and I, what I want to say, what I want to preface this with saying is that I'm not an economist, please take this with a grain of salt. I'm not going to just pretend like I know, I have a crystal ball and I know everything because I don't. But I don't think we're in a bubble, I think bubbles are driven by greed and fear and nothing. Bubbles are just driven by a lot of nothingness and they don't make sense, right? And that's why they pop and then prices fall. What we're in right now, I believe to be a supply and demand issue. So there's a lot of graphs out there, if you look at the US housing starts by decade over the past few decades, like the number of construction, the new houses being built. It's shocking. I've done some Instagram posts about it. But the houses being built, like if there were this is a silly number. But if there were 100 house 100,000 houses being built per decade, for the 80s 90s 2000s. Then in 2010, it dropped down to like 50,000, which that number is not right. But it went down to half basically. Michael: Yeah, yeah.   Rachel: I have no idea why I don't know why and what happened. But the fact that our housing construction dropped down to half in the last decade is alarming and because of that, that explains the entire housing crisis right now, that explains why the market is so high. There's not enough houses, it's a seller's market, this explains our entire problem and the thing is, that's not going to go away anytime soon. It's going to take years to catch up and to build enough houses where people finally have enough homes again, population is still increasing, maybe like very, very, very slowly. It's almost flatlining now, but it is still increasing and it's just a supply and demand problem. There's not enough houses to meet to meet up with demand. So that's what I think now. Could we have a market correction? Absolutely. But I don't think we're in a bubble. So that's my thoughts on that. I think that 2022 is going to be another year of real a lot of housing growth, maybe not as much as last year, but I just don't think this is going to stop. So, so that's reason number one.   Michael: I love that insight in that take.   Rachel: Yeah, um, reason number two, that I think it's a great year to invest is because inflation is creeping up. More it was slowly at first and now it's more quickly and erases slightly alarming. Yeah. I think the last report from December was 7%, that's 7%. I don't remember the last time it was that high.   Michael: I heard this is the the biggest, the most severe, it's been in over 40 years.   Rachel: Well, that explains it. I'm 29. So this is the highest inflation has been in my lifetime. Yeah, but that's a weird thing to say and with inflation, the best place to keep your money is in real assets, things like land and real estate. So that one that's easy to explain, I think, real estate's a great place to put your money right now, certainly not cash, I have too much in cash, I'm trying to figure out where, where to put it. So that's why I want to get more invested in real estate this year. So inflation is another reason. Also interest rates, interest rates were so low for so long, they don't have anywhere to go but up and as we are now seeing interest rates are starting to rise. My husband and I are under contract on an investment property in Denver, Colorado and it was like every week, our lender kept telling us you need to get your loan application in, we need to lock these interest rates because they're literally going up every single week and we'd already missed out on a couple percentage points because we couldn't get stuff in or we couldn't get stuff done, like within a week or two, you're like, oh, my gosh, interest rates are just rising really fast. So you know, it's a really great time to invest. So you can get that little interest rate locked in.   It's your we're not in the times of refinancing anymore, like we were in the last few years where you could refinance into a lower rate going forward, now's the time to buy real estate and lock in a low interest rate and get that low mortgage payment. So that's the third thing and then the final reason, I think it's a great time to invest in real estate is because this is my personal strategy. I do not invest for appreciation, I invest for cash flow and if you invest for cash flow, it does not matter if the market goes up or down. If the market goes down, and your property's already cash flowing, it will continue to cash flow. However, if you invest for appreciation, and the market goes down, you are you're going to lose money, you have lost money and I'm scared for a lot of investors who are trying to ride the high of the market going up and they're just investing for appreciation, because that's really risky, I think that.   We all saw what happened in 2007 and 2008, investors were doing the exact same thing. And then the market crashed, people lost money. They were foreclosed on landlords lost money. It was a disaster. But if you invest for cash flow, that's never going to happen. So there's that saying, you know, you you buy, you make money when you buy, not when you sell and there's another quote that I'll share, which is don't and this goes for all the reasons why now's a great time to invest. Don't wait to buy real estate, buy real estate and wait.   Michael: Ah, that's a good one.   Rachel: There we go, mic drop.   Michael: Rachel. Oh, that is really good, that is really good. Well, I love so much of what you just shared. But I have a follow up question for you. If you're investing for cash flow, how the hell are you doing that in Denver, Colorado?   Rachel: Good question, okay. If you are in a market like Denver, or California or an expensive market or a competitive market, my advice to you is you have to be creative. You have to look at a potential property very creatively, you're likely not going to meet the 1% rule. If you're just going to look at a property and rent it out to a long term tenant, which the 1% rule states that the monthly rent should be 1% of the list price. So a $500,000 property should bring in $5,000 a month in rent. Okay, now that's just a guideline that I use to determine if a property is overpriced or underpriced. It's not a black and white roll, but I post about it sometimes on Instagram or whatever and then people are like, you're kidding, right?   I'm not gonna find a 1%...   Michael: This doesn't exist.   Rachel: Exactly yeah, this doesn't exist in California like that. You're joking and I'm like, well, it does if you do two things if you are creative, and if you look for off market deals. So what I, what I mean when I say… Michael: Another mic drop.   Rachel: Yeah, thank you. When I say be creative, I mean look at it through another lens. So can you build an accessory dwelling unit an ADU on the property? Does the zoning allow for that where you could actually build a tiny home or another unit that you could rent out thereby increasing your cash flow would that be allowed? Could you convert a single family into a duplex? Could you convert a duplex into a triplex? Could you add on another unit by just making building another wall or making a very simple switch?   So these are ways you can increase your cash flow. One of my favorite methods that I personally have done and I'm doing again, is the rent by the room method.   Michael: Yes.   Rachel: Yes, if the zoning allows for it, if the city allows for it, if the HOA allows for, you have to check all these different things. But you can make any poor or good property into a cash cow by renting it out by the room. So take a single family house, four bedrooms, two baths, instead of just putting one tenant in there, or one family in there, or whatever, rented out by the room and put four tenants in there and now you've doubled your cash flow and now you meet the 1% rule. This is how people are doing it in Denver and you can house hack and do it this way and you can live in one room and rent out the other rooms and now you have a 5% down payment and now you have a cash on cash ROI, that's 30%. Or you don't have to live there and you rent out by the room. I mean, it's I get so excited because if you think outside the box, you can find a way to buy a cash flowing property in any market, I promise you that, so…   Michael: That's so good.   Rachel: Thank you that yeah, that's the first tip and then the second tip, and this is something that I specialize in and that I teach is you have to get off the MLS, and get off Zillow, and get off the couch. You have to go, you have to go out there and find off market deals because everyone right now is doing what's easy, right? Everyone who wants to invest in us, in real estate is working with an agent, they're looking at deals on the MLS, they're looking at deals on Zillow and they're sitting on the comfort of their home waiting for something to come up. That's what everyone else is doing and the market is so competitive, and it's so saturated, that you're just not going to find a good deal that way.   You have to be willing to do what others are not if you're going to find a good deal right now and that means doing things like getting probate leads, and getting Pre Foreclosure leads and driving for dollars and putting up bandit signs and there's a ton of other methods that you can use to find off market deals. And again, it comes down to being creative and going and spending the extra time and effort and getting off the MLS so that you can find the hidden gems.   Michael: I think that's so good for people to hear. Because I think I do think so many people look at the MLS and equate that with the market, what the real estate market is doing and you're so right like competition is fierce. There's a lot of owner occupants out there that are getting lower interest rates that it can afford to pay more with lower down payments and you're competing with them and so you've got to you've got to get creative, I love that. Did you see the SNL skit talking about millennials and Zillow?   Rachel: No!   Michael: Oh, it's so good.   Rachel: What is it?   Michael: It is basically like every millennial late at night watch, like getting online going. Looking at Zillow, like gets poured like oh, look at this 320, it's amazing. Like every millennial.   Rachel: That's so true. Well, one of my favorite pastimes is going on Zillow and looking at homes I can't afford so.   Michael: Yes, I think a lot of us do the same. We're all kind of sick in the head like that.   Rachel: Yeah, like, Oh, that $10 million waterfront property in California. Beautiful!   Michael: Yeah. Maybe one day maybe?   Rachel: My price range, yeah   Michael: Awesome. Well, Rachel, thank you so much for chatting with me again today. I really appreciate you coming on. If people want to get in touch with you have more questions have follow ups. Where's the best place for them to reach out?   Rachel: Thank you so much. Yeah, my Instagram is always great. So you can follow me @moneyhoneyrachel  both of my books money, honey and passive income, aggressive retirement are available on Amazon. And lastly, Michael, what I'd love to do for your listeners is if anyone wants to download my passive income starter kit, I will give that for free, so yeah…   Michael: Amazing, thank you so much.   Rachel: Absolutely. So you can go to www.moneyhoneyrachel.com/passiveincome to download that.   Michael: Okay and we'll post that definitely in the show notes below as well for anyone listening to this. Awesome, Rachel. Thank you again, always a pleasure to see you and look forward to keeping in touch, I can't wait to hear how this rent by the room goes for you.   Rachel: Thank you. Thanks for having me on again. It's so nice to hear to talk to you.   Michael: Thanks, take care, talk soon. All right well, that was our episode a big thank you to Rachel again for coming on and spending some time with me. Super interesting perspective on where we are in the markets really great insights on syndications and how to get involved if that's something you're interested in. I definitely can't wait to hear from Rachel going forward on how her rent by the room in Denver is going out in the Midwest out in Denver, Colorado.   If you enjoy the episode, feel free to leave us a rating review. Those are super helpful for us. We'd love to hear from you all and as always, we look forward to seeing the next one. Happy investing!

On this episode of the Passive Income Attorney podcast, Seth is joined by Rachel Richards as they talk about educating millennials on how to work their way out of financial despair, given the lack of financial education in the current system. Rachel is a former financial advisor who quit her job and retired at 27 by turning to passive income. She shares her journey, including her books, Money Honey” and “Passive Income, Aggressive Retirement.” Enjoy the episode! “Don't be a control freak; just accept you're gonna make mistakes, and that's a part of it.” HIGHLIGHTS: Here's a breakdown of what to expect in this episode: Motivation to learn financial independence and real estate investing in high school Wrongs of being a financial advisor, as told by Rachel Real estate investing as a plan B after quitting from being a financial advisor Passively investing in syndications versus direct ownership of single-family or duplex properties How to figure out your best investment strategy towards financial freedom What pushed Rachel to write her book And so much more!   ABOUT | RACHEL RICHARDS: At the age of 27, Rachel Richards quit her job and retired, living off $15,000 per month in passive income. Rachel is the bestselling author of “Money Honey” and “Passive Income, Aggressive Retirement.” She is a former financial advisor and a real estate investor with almost 40 rental units. By making the topic of money management fun, entertaining, and simple, Rachel has helped thousands of millennials work their way out of financial despair.   FIND | RACHEL RICHARDS: Passive Income Starter Kit: www.moneyhoneyrachel.com/bonus Instagram: www.instagram.com/moneyhoneyrachel Website: www.moneyhoneyrachel.com   CONNECT | SETH BRADLEY: Get Started | Download The Freedom Blueprint: http://www.attorneybydesign.com Subscribe and Leave a Rating and Review: Apple: https://podcasts.apple.com/us/podcast/the-passive-income-attorney-podcast/id1543049208 Spotify: https://open.spotify.com/show/5a0Qp9G2x337nZCDWoVgoO?si=MKn01_t8Tfu0JBZCnagrCw Join EPIC | The Esquire Passive Investor Club: https://passiveincomeattorney.com/join-the-passive-income/ Join | The Passive Income Attorneys Facebook Group: https://www.facebook.com/groups/passiveincomeattorneys Follow Us: Website:  https://passiveincomeattorney.com/ LinkedIn: https://www.linkedin.com/in/sethpaulbradley/ Facebook: https://www.facebook.com/passiveincomeattorney Instagram: https://www.instagram.com/passiveincomeattorney/

On this episode of the Passive Income Attorney podcast, Seth is joined by Rachel Richards as they talk about educating millennials on how to work their way out of financial despair, given the lack of financial education in the current system. Rachel is a former financial advisor who quit her job and retired at 27 by turning to passive income. She shares her journey, including her books, Money Honey” and “Passive Income, Aggressive Retirement.” Enjoy the episode! “Don't be a control freak; just accept you're gonna make mistakes, and that's a part of it.” HIGHLIGHTS: Here's a breakdown of what to expect in this episode: Motivation to learn financial independence and real estate investing in high school Wrongs of being a financial advisor, as told by Rachel Real estate investing as a plan B after quitting from being a financial advisor Passively investing in syndications versus direct ownership of single-family or duplex properties How to figure out your best investment strategy towards financial freedom What pushed Rachel to write her book And so much more!   ABOUT | RACHEL RICHARDS: At the age of 27, Rachel Richards quit her job and retired, living off $15,000 per month in passive income. Rachel is the bestselling author of “Money Honey” and “Passive Income, Aggressive Retirement.” She is a former financial advisor and a real estate investor with almost 40 rental units. By making the topic of money management fun, entertaining, and simple, Rachel has helped thousands of millennials work their way out of financial despair.   FIND | RACHEL RICHARDS: Passive Income Starter Kit: www.moneyhoneyrachel.com/bonus Instagram: www.instagram.com/moneyhoneyrachel Website: www.moneyhoneyrachel.com   CONNECT | SETH BRADLEY: Get Started | Download The Freedom Blueprint: http://www.attorneybydesign.com Subscribe and Leave a Rating and Review: Apple: https://podcasts.apple.com/us/podcast/the-passive-income-attorney-podcast/id1543049208 Spotify: https://open.spotify.com/show/5a0Qp9G2x337nZCDWoVgoO?si=MKn01_t8Tfu0JBZCnagrCw Join EPIC | The Esquire Passive Investor Club: https://passiveincomeattorney.com/join-the-passive-income/ Join | The Passive Income Attorneys Facebook Group: https://www.facebook.com/groups/passiveincomeattorneys Follow Us: Website:  https://passiveincomeattorney.com/ LinkedIn: https://www.linkedin.com/in/sethpaulbradley/ Facebook: https://www.facebook.com/passiveincomeattorney Instagram: https://www.instagram.com/passiveincomeattorney/

Welcome back to Don't Retire... Graduate! Today's guest has had an amazing journey that led to retiring at age 27. Rachel Richards is the best-selling author of Money Honey and Passive Income, Aggressive Retirement and is here to tell her story and share her tips on how you can create your own passive income streams.  In this episode we'll talk about: How Rachel retired at 27 with $20,000 of monthly passive income Self-publishing tips for personal finance writers Why Money Honey was written to begin with Seeing market dips as a sale on stocks and an opportunity for a good deal The misconception of how you lose money in the stock market The value of time in growing wealth  Strategies for creating passive income streams and retiring early  The steps you take to designing your dream life Having a plan for what you want to do with your time in retirement, whether you're retiring early or at a traditional age The importance of writing down your goals Recognizing if a financial advisor is a fiduciary or a scammer Free budgeting worksheet: www.moneyhoneyrachel.com/worksheets  Visit brotmanmedia.com/podcasts for a full transcript of this episode. About Rachel Richards: At the age of 27, Rachel Richards quit her job and retired, living off $15,000 per month in passive income. Rachel is the bestselling author of “Money Honey” and “Passive Income, Aggressive Retirement.” She built a real estate portfolio of 38 rental units by the age of 26. She is a former financial advisor, and has been featured in CNN and Business Insider. By making the topic of money management fun, entertaining, and simple, Rachel has helped thousands of millennials work their way out of financial despair. Links: www.moneyhoneyrachel.com www.facebook.com/MoneyHoneyRachel www.instagram.com/moneyhoneyrachel

This week we're going to be talking with Rachel Richards. Not only does Rachel talk about how she was able to accomplish so much financially at such a young age, but she also talks about some of the struggles and obstacles in her way of making that happen. Which I know all of us can relate to as entrepreneurs.    Here's a little bit about Rachel if you don't already know her... At the age of 27, she quit her job and retired, living off of over $15,000 per month in passive income. Rachel's made a name for herself in the personal finance realm and is the best-selling author of the books "Money Honey" and "Passive Income, Aggressive Retirement". She's a former financial advisor and a real estate investor with almost 40 rental units. Her valuable lessons have helped thousands of female millennials work their way out of financial despair. She's successfully done what no one's done before, make the topic of money-management fun, entertaining, and simple.   I'm so excited to talk with her on the podcast today. I know you're going to get so much out of this interview and really see yourselves in her journey. She is not unlike you. There is nothing miraculous about what she was able to accomplish. She was savvy and applied her knowledge, and loves and has a passion for doing the same and sharing that knowledge with you.   >>> Connect with Rachel Richards on IG @moneyhoneyrachel >>> Find Rachel's programs here https://www.moneyhoneyrachel.com/ >>> Rachel's Real Estate Investing Bootcamp link: www.moneyhoneyrachel.com/re-course >>> Download Rachel's FREE Passive Income Starter Kit https://www.moneyhoneyrachel.com/bonus  >>> Money Honey: A Simple 7-Step Guide for Getting Your Financial $hit Together: https://amzn.to/33fwtc6 >>> Passive Income, Aggressive Retirement: The Secret to Freedom, Flexibility, and Financial Independence (& how to get started!): https://amzn.to/2FltLtt >>> The Miracle Morning by Hal Elrod: https://www.amazon.com/Miracle-Morning-Not-So-Obvious-Guaranteed-Transform-ebook/dp/B00AKKS278/ref=sr_1_1?keywords=the+miracle+morning&qid=1637168218&s=digital-text&sr=1-1   >>> Text me!: https://my.community.com/shannonweinsteincpa >>> Fitnancial Solutions Accounting Suite: https://www.fitnancialsolutions.com/accounting >>> Find me on IG @shannonweinstein: https://www.instagram.com/shannonkweinstein >>> Catch me in-person on YouTube: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ >>> Featured in Yahoo Finance! Read more here: https://finance.yahoo.com/news/10-bookkeepers-accountants-watch-2021-113800161.html >>> Chat About This Episode in the Keep What You Earn Community - https://www.facebook.com/groups/fitnancial   The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

About Rachel Richards At the age of 27, Rachel Richards quit her job and retired, living off $15,000 per month in passive income. Rachel is the bestselling author of “Money Honey” and “Passive Income, Aggressive Retirement.” She built a real... READ MORE The post $15,000 in passive income | Rachel Richards appeared first on .

I did a thing this week, I sent my book to the editor.   In some ways it feels like a major step on a new and uncomfortable experience. Writing a book has been on the long life list of things I wanted to do someday. I know this isn't the summit. The manuscript will come back in a couple weeks marked and dismantled, but I am excited for that. It means someone else is going to see something I spent 3 months writing and another month editing. It's out of my hands and further down the path. I strongly encourage taking a look at your someday-maybe list. With the thanksgiving holiday coming up it might be a great time to sit down with family and review/revisit/create that someday-maybe list. I love talking about the someday-maybe list, the dream list (maybe you have another name for it), but taking the steps to do the thing is a different kind of experience. I highly recommend it! I'm definitely at a checkpoint and ready for a snack still a ways off from the summit. What is something on your someday-maybe list that you would like to take action on? Website for this episode: https://ordinarysherpa.com/052Subscribe to the email List:  https://ordinarysherpa.com/subscribe/ Earlier this year I participated in a Book-writing Mastermind call that Rachel Richards led. She was one of few who inspired me to write a book.  Her authentic and audacious voice in the financial space made the content fun, simple and welcome change from the stuffy and dry tone more common in the space.  At the age of 27, Rachel quit her job and retired, living off over $15,000 per month in passive income. Rachel has made a name for herself in the personal finance realm as the bestselling author of Money Honey and Passive Income, Aggressive Retirement. The reason I invited Rachel on Ordinary Sherpa was watching her navigate a season of location independent lifestyle with her husband and dog.  She set out for months  living vivaciously in AirBnbs, making a second side following as a hiking influencer exploring the peaks and valleys of the western United States. Key Takeaways Never underestimate the parenting benefits of having a strong-willed child.  Look at Rachel as an example of what is possible Times have changed but the way we look at retirement hasn't.  Rachel made space to change the narrative and offer insight into what retirement could look like for a millennial.   How many sources of income do you have?  We are taught that having a salaried full-time position equates to job security and income security. Rachel disagrees with that approach because you're completely dependent on a single source of income.  Much like we are advised to diversify our investment portfolio, Rachel also highlights the value of diversifying your income.  She shared at least 5 different sources of income she has and how that has shifted over the past few years. Passive Income is not a get rich quick scheme.  It's front loading the work so later we do not have to trade time for dollars.  In addition to her book: Passive Income Aggressive Retirement, she also offered all of my listeners a free bonus.  Passive Income starter kit available at moneyhoneyrachel.com/bonus Spending 6m exploring the western United States had highlights and shadows.  While it was an amazing experience overall, the stress, cancellations and maintenance issues they had to work through with various Airbnb and VRBO rentals was extremely taxing.  Rachel indicated she is seeing a shift back to hotels for this reason.   When spending 6m traveling around the country you also don't have a social life where you can go meet up with friends in the evenings. It was her and her husband together 24/7 for six months straight. So you gotta make sure you really do like your person that you're with. Traveling is hard on dogs.  While her dog Chloe adjusted after a couple months, having things like gates, lots of chew toys, and leaving them with some of their shirts helped ease the initial anxiety. As referenced, episode 036 | Traveling with Pets that might also be helpful resource  While the initial plan was to hike in many of the national parks, they realized that wasn't feasible due to the restriction with dogs on hikes.  Since they had no interest in boarding their dog, they readjusted their overall travel plans and still made a few day hikes to a couple national parks.   Maybe it was David Goggins book Can't Hurt Me that sparked her interest to inflict pain and set out to tackle all the 14ers in Colorado.  She summited her first 14er in March completing Quandary and would not recommend doing in winter.  To prepare she referenced the website 14ers.com and many forums and Facebook groups, but really it's about doing steep elevation hikes. “Well, it's one of those things where you don't grow unless you force yourself to be uncomfortable, whether it's physical or emotional or whatever, but I think it just comes back to that.” To Connect or Follow Rachel Richards:Website:moneyhoneyrachel.comInstagram: @moneyhoneyrachel Tik Tok: @moneyhoneyrachel Books: Money Honey; Passive Income Aggressive Retirement

In today's High Impact Interview with Rachel Richards, she is sharing how she would teach a child how to own a cash flowing asset. Rachel believes owning real estate in the form of rental properties is a wealth building journey every young person should learn to do. If you missed yesterday's episode, we have Rachel Richards, a retired Millennial who quit her job and lives off of $15,000/month in passive income. Rachel is the bestselling author of “Money Honey” and “Passive Income, Aggressive Retirement.” She is a former financial advisor and a real estate investor with almost 40 rental units. By making the topic of money management fun, entertaining, and simple, Rachel has helped thousands of millennials work their way out of financial despair. Connect with Rachel here: https://buff.ly/3ka1Onj Get her books here: https://buff.ly/30X4puz - Passive Income, Aggressive Retirement https://buff.ly/319lHa4 - Money Honey

Today's Show Sponsor: The Next Generation Real Estate Summit The Next Generation Real Estate Summit is a two-day virtual event curated for the next generation of real estate investors, mainly those in their 20s and 30s. The goal of the Summit is for you to have all of the tools, resources, knowledge, and network to buy your first investment property! We'll accomplish this through various speaker sessions, networking opportunities, and workshops! For a limited time, use this link to get $100 off your ticket! In today's show, we have Author, Real Estate Investor, and Passive Income Enthusiast, Rachel Richards! At the age of 27, Rachel Richards quit her job and retired, living off $15,000 per month in passive income. Rachel is the bestselling author of “Money Honey” and “Passive Income, Aggressive Retirement.” She built a real estate portfolio of 38 rental units by the age of 26. She is a former financial advisor, and has been featured in CNN and BusinessInsider. By making the topic of money management fun, entertaining, and simple, Rachel has helped thousands of millennials work their way out of financial despair. If you got value out of today's episode, please head over to Itunes to give it an honest rating & review. Connect with the host, Bailey Kramer! --------------------------------------------------------------

Rachel Richards. At the age of 27, she quit her job and retired, and now living off over $15,000 per month in passive income. She is on a mission to empower female millennials to take control of their financial future.Financial coach for millennials. Bestselling author of "Money Honey," and "Passive Income, Aggressive Retirement." Real estate investor with almost 40 rental units. A former financial advisor with a BS in Financial Economics from Centre College.And she believes we are in a financial education crisis we're going to talk about and so much more.In our conversation, we discussed:Way to approach the entire concept of retirementPassive income streams and royalty incomeWhere you invest in a rental property?Connect with Rachel Richardshttps://capitalgainstaxsolutions.com/empowering-female-millennials-to-be-in-control-of-their-financial-future-with-rachel-richards/Love the show? Subscribe, rate, review, and share!Here's How »Join the Capital Gains Tax Solutions Community today:capitalgainstaxsolutions.comCapital Gains Tax Solutions FacebookCapital Gains Tax Solutions Twitter

I got to interview Rachel Richards. At the age of 27, Rachel Richards quit her job and retired, living off $15,000 per month in passive income. Rachel is the bestselling author of “Money Honey” and “Passive Income, Aggressive Retirement.” She is a former financial advisor and a real estate investor with almost 40 rental units. By making the topic of money management fun, entertaining, and simple, Rachel has helped thousands of millennials work their way out of financial despair. We spoke about: 1:00 Getting into real estate. 2:45 Helping with financial literacy. 7:10 Motivated by fear. This episode is sponsored by Nova Zora Digital experts in digital marketing. Check out Real Talk Podcasting for all things podcasting. *Disclaimer: The views and opinions on Roman Prokopchuk's Digital Savage Experience are those of the guest's alone as their own, and the host's alone as his own. Information provided by the guest is fact checked to the best of our abilities. By providing background information to the show, the guest acknowledges that it is as accurate as possible. The show does not endorse, promote, or is in association with the guest's business interests.* --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/roman-prokopchuk/support

Your real estate license can do a lot more than just helping clients buy and sell their properties. If you're a real estate agent, pay attention to this episode because Rachel Richards is about to unveil the secrets to acquiring 40 properties in 3 years with only $20K and a REALTOR's license. Key takeaways to listen for Why you should consider house hacking How REALTORS can quickly build up a portfolio Is owning rental properties 100% passive? What is syndication? Resources mentioned in this episode Dream Big: Know What You Want, Why You Want It, and What You're Going to Do About It Money Honey: A Simple 7-Step Guide For Getting Your Financial $hit Together About Rachel Richards At the age of 27, Rachel Richards quit her job and retired, now living off $15,000+ per month in passive income. Rachel is the bestselling author of Money Honey and Passive Income, Aggressive Retirement. She is a former financial advisor and a real estate investor with almost 40 rental units. She has been featured on CNBC, Business Insider, and BiggerPockets Podcast. By making the topic of money management fun, entertaining, and simple, Rachel has helped thousands of millennials work their way out of financial despair. Connect with Rachel Website: www.moneyhoneyrachel.com Instagram: @moneyhoneyrachel Facebook: Money Honey Rachel   Connect with Leigh Please subscribe to this podcast in iTunes or in the Podcasts App on your phone, and never miss a beat from Leigh by visiting https://leighbrown.com. DM Leigh Brown on Instagram or on Twitter or any social networks by clicking here. Subscribe to Leigh's other podcast Real Estate From The Rooftops! Sponsor If you're tired of doing real estate alone, enroll in  Leigh Brown University and be sure to use your special “CSIRE” discount code at checkout for $10 off your subscription.

Rachel Richards. At the age of 27, she quit her job and retired, and now living off over $15,000 per month in passive income. She is on a mission to empower female millennials to take control of their financial future.Financial coach for millennials. Bestselling author of "Money Honey," and "Passive Income, Aggressive Retirement." Real estate investor with almost 40 rental units. A former financial advisor with a BS in Financial Economics from Centre College.Connect with Rachel Richards:https://www.expertcresecrets.com/episode43Love the show? Subscribe, rate, review, and share!Here's How »Join the Expert CRE Community today:expertCREsecrets.comeXpert CRE Secrets FacebookeXpert CRE Secrets Youtube

Planning to retire before you reach 30?At age 27, Rachel Richards, author of Money Honey and Passive Income, Aggressive Retirement, retired and is now living $15,000 passively per month.Since finance can be overwhelming or intimidating, Rachel thought to make financial topics sassy, fun and simple. This is to make a complex topic into something that is easily digestible and can resonate with women and young people.Ultimately, she believes that anyone, at any age, on any income can achieve financial independence.Build relationships with other accredited investors.Check out the networking guide at simplepassivecashflow.com/networking See acast.com/privacy for privacy and opt-out information.

Planning to retire before you reach 30? At age 27, Rachel Richards, author of Money Honey and Passive Income, Aggressive Retirement, retired and is now living $15,000 passively per month. Since finance can be overwhelming or intimidating, Rachel thought to make financial topics sassy, fun and simple. This is to make a complex topic into something that is easily digestible and can resonate with women and young people. Ultimately, she believes that anyone, at any age, on any income can achieve financial independence. Build relationships with other accredited investors. Check out the networking guide at simplepassivecashflow.com/networking

Rachel Richards is the bestselling author of Money Honey and Passive Income, Aggressive Retirement. She is a former financial advisor and a real estate investor. Most impressively, at the age of 27, Rachel quit her job and retired, living off over $10,000 per month in passive income. She has helped thousands of millennials work their way out of financial despair. Tune into this episode to learn how Rachel retired before the age of 30, and how you can too! Bizz Banter Website: bizzbanter.com Bizz Banter Instagram: instagram.com/bizzbanter Music by Marc Wavy: https://www.youtube.com/c/MarcWavy/featured --- Support this podcast: https://podcasters.spotify.com/pod/show/bizz-banter/support

“Give yourself the gift of solitude to masterfully serve the multitude.” – Dom Brightmon Today's bonus episode features the host himself sharing 30 lessons that he learned from being alive on Earth for 30 years in celebration of his 30th birthday.   Key Thing's You'll Learn: One of the keys to sustainable success. The quickest way to advance in your life. What you can do to program your mind for achieving success.   Dom's Site: https://www.dombrightmon.com/about-me Dom's Books: https://www.amazon.com/Stay-Course-Performers-Sustainable-Success/dp/1733854509/ref=tmm_pap_swatch_0?_encoding=UTF8&qid=&sr=   The opening track is titled “Omen” by Mama Muoi Chin.   Resources Mentioned:   Supreme Influence by Niurka: https://www.amazon.com/Supreme-Influence-Change-Power-Language/dp/0307956873/ref=rvi_4/136-1225831-2593917?pd_rd_w=7v1SS&pf_rd_p=c0296674-5a83-4ad6-b035-0702d2b359df&pf_rd_r=SWE63EH7JQ90S6HS2S49&pd_rd_r=6cf45b88-2ff0-4dcd-82e0-43797e4c7792&pd_rd_wg=HSh3b&pd_rd_i=0307956873&psc=1   21 Laws of Leadership by John C. Maxwell: https://www.amazon.com/21-Irrefutable-Laws-Leadership-Anniversary/dp/0785288376/ref=tmm_hrd_swatch_0?_encoding=UTF8&qid=&sr=   15 Laws of Growth by John C. Maxwell: https://www.amazon.com/15-Invaluable-Laws-Growth-Potential/dp/1599953668/ref=tmm_hrd_swatch_0?_encoding=UTF8&qid=&sr=   Act Like a Success, Think Like a Success by Steve Harvey: https://www.amazon.com/Act-Like-Success-Think-Discovering/dp/0062220322/ref=tmm_hrd_swatch_0?_encoding=UTF8&qid=1630901232&sr=1-3   Passive Income, Aggressive Retirement by Rachel Richards: https://www.amazon.com/Passive-Income-Aggressive-Retirement-Independence/dp/1706203020/ref=tmm_pap_swatch_0?_encoding=UTF8&qid=1630901340&sr=1-3   As a Man Thinketh: https://www.amazon.com/Man-Thinketh-Poverty-Power-Paperback/dp/B0022LZII4/ref=sr_1_21?crid=K480CRPG08I1&dchild=1&keywords=as+a+man+thinketh&qid=1630904023&s=books&sprefix=as+a+ma%2Caps%2C235&sr=1-21   Ask Outrageously!: The Secret to Getting What You Really Want: https://www.amazon.com/Ask-Outrageously-Secret-Getting-Really/dp/1523082712/ref=tmm_pap_swatch_0?_encoding=UTF8&qid=1630905948&sr=8-1   You May Also Like…   Ep. 301.5 (SelfieCast) – “3 Tips to Creating Success” with Dominique Brightmon (@DomBrightmon): https://www.goingnorthpodcast.com/ep-3015-selfiecast-3-tips-to-creating-success-with-dominique-brightmon-dombrightmon/   SelfieCast #2 – “3 Ways to Uncover Content” with Dominique Brightmon (@DomBrightmon): https://www.goingnorthpodcast.com/selfiecast-2-3-ways-to-uncover-content-with-dominique-brightmon-dombrightmon/   221 – “Righteous Leadership” with Dr. Ray Charles (@TheDrRayCharles): https://www.goingnorthpodcast.com/221-righteous-leadership-with-dr-ray-charles-thedrraycharles/   #GNPYear3 Bonus Episode 5 – “Money Honey” with Rachel Richards (@MoneyHoneyRach): https://www.goingnorthpodcast.com/gnpyear3-bonus-episode-5-money-honey-with-rachel-richards-moneyhoneyrach/   115 - "Little Boxes, Big Profits" with Hunter Thompson (@CashFlowCFC): https://www.goingnorthpodcast.com/115-little-boxes-big-profits-with-hunter-thompson-cashflowcfc/   #GNPYear3 Bonus Episode 2 – “Attention Management” with Maura Nevel Thomas (@mnthomas): https://www.goingnorthpodcast.com/gnpyear3-bonus-episode-2-attention-management-with-maura-nevel-thomas-mnthomas/   Ep. 304 – “Tranquil Triumphs” with Mike Carr (@mikecarratx): https://www.goingnorthpodcast.com/ep-304-tranquil-triumphs-with-mike-carr-mikecarratx/   128 - “The Adventures of Teacherman” with Brian D. Neal (@BrockSteel1): https://www.goingnorthpodcast.com/128-the-adventures-of-teacherman-with-brian-d-neal-brocksteel1/   48 - "Unlocking Greatness" with Charlie Harary (@CharlieHarary): https://www.goingnorthpodcast.com/48-unlocking-greatness-with-charlie-harary-charlieharary/   Ep. 306 – “Be The SPARK” with Simon T. Bailey (@SimonTBailey): https://www.goingnorthpodcast.com/ep-306-be-the-spark-with-simon-t-bailey-simontbailey/   Ep. 371 – “The Power of Pivoting” with Monica Ortega (@monicagoesshow): https://www.goingnorthpodcast.com/ep-371-the-power-of-pivoting-with-monica-ortega-monicagoesshow/   139 - "Take Focused Action & Get Results" with Brian J. Olds (@BSNSpeaks): https://www.goingnorthpodcast.com/139-take-focused-action-get-results-with-brian-j-olds-bsnspeaks/

“Give yourself the gift of solitude to masterfully serve the multitude.” – Dom Brightmon Today's bonus episode features the host himself sharing 30 lessons that he learned from being alive on Earth for 30 years in celebration of his 30th birthday.   Key Thing's You'll Learn: One of the keys to sustainable success. The quickest way to advance in your life. What you can do to program your mind for achieving success.   Dom's Site: https://www.dombrightmon.com/about-me Dom's Books: https://www.amazon.com/Stay-Course-Performers-Sustainable-Success/dp/1733854509/ref=tmm_pap_swatch_0?_encoding=UTF8&qid=&sr=   The opening track is titled “Omen” by Mama Muoi Chin.   Resources Mentioned:   Supreme Influence by Niurka: https://www.amazon.com/Supreme-Influence-Change-Power-Language/dp/0307956873/ref=rvi_4/136-1225831-2593917?pd_rd_w=7v1SS&pf_rd_p=c0296674-5a83-4ad6-b035-0702d2b359df&pf_rd_r=SWE63EH7JQ90S6HS2S49&pd_rd_r=6cf45b88-2ff0-4dcd-82e0-43797e4c7792&pd_rd_wg=HSh3b&pd_rd_i=0307956873&psc=1   21 Laws of Leadership by John C. Maxwell: https://www.amazon.com/21-Irrefutable-Laws-Leadership-Anniversary/dp/0785288376/ref=tmm_hrd_swatch_0?_encoding=UTF8&qid=&sr=   15 Laws of Growth by John C. Maxwell: https://www.amazon.com/15-Invaluable-Laws-Growth-Potential/dp/1599953668/ref=tmm_hrd_swatch_0?_encoding=UTF8&qid=&sr=   Act Like a Success, Think Like a Success by Steve Harvey: https://www.amazon.com/Act-Like-Success-Think-Discovering/dp/0062220322/ref=tmm_hrd_swatch_0?_encoding=UTF8&qid=1630901232&sr=1-3   Passive Income, Aggressive Retirement by Rachel Richards: https://www.amazon.com/Passive-Income-Aggressive-Retirement-Independence/dp/1706203020/ref=tmm_pap_swatch_0?_encoding=UTF8&qid=1630901340&sr=1-3   As a Man Thinketh: https://www.amazon.com/Man-Thinketh-Poverty-Power-Paperback/dp/B0022LZII4/ref=sr_1_21?crid=K480CRPG08I1&dchild=1&keywords=as+a+man+thinketh&qid=1630904023&s=books&sprefix=as+a+ma%2Caps%2C235&sr=1-21   Ask Outrageously!: The Secret to Getting What You Really Want: https://www.amazon.com/Ask-Outrageously-Secret-Getting-Really/dp/1523082712/ref=tmm_pap_swatch_0?_encoding=UTF8&qid=1630905948&sr=8-1   You May Also Like…   Ep. 301.5 (SelfieCast) – “3 Tips to Creating Success” with Dominique Brightmon (@DomBrightmon): https://www.goingnorthpodcast.com/ep-3015-selfiecast-3-tips-to-creating-success-with-dominique-brightmon-dombrightmon/   SelfieCast #2 – “3 Ways to Uncover Content” with Dominique Brightmon (@DomBrightmon): https://www.goingnorthpodcast.com/selfiecast-2-3-ways-to-uncover-content-with-dominique-brightmon-dombrightmon/   221 – “Righteous Leadership” with Dr. Ray Charles (@TheDrRayCharles): https://www.goingnorthpodcast.com/221-righteous-leadership-with-dr-ray-charles-thedrraycharles/   #GNPYear3 Bonus Episode 5 – “Money Honey” with Rachel Richards (@MoneyHoneyRach): https://www.goingnorthpodcast.com/gnpyear3-bonus-episode-5-money-honey-with-rachel-richards-moneyhoneyrach/   115 - "Little Boxes, Big Profits" with Hunter Thompson (@CashFlowCFC): https://www.goingnorthpodcast.com/115-little-boxes-big-profits-with-hunter-thompson-cashflowcfc/   #GNPYear3 Bonus Episode 2 – “Attention Management” with Maura Nevel Thomas (@mnthomas): https://www.goingnorthpodcast.com/gnpyear3-bonus-episode-2-attention-management-with-maura-nevel-thomas-mnthomas/   Ep. 304 – “Tranquil Triumphs” with Mike Carr (@mikecarratx): https://www.goingnorthpodcast.com/ep-304-tranquil-triumphs-with-mike-carr-mikecarratx/   128 - “The Adventures of Teacherman” with Brian D. Neal (@BrockSteel1): https://www.goingnorthpodcast.com/128-the-adventures-of-teacherman-with-brian-d-neal-brocksteel1/   48 - "Unlocking Greatness" with Charlie Harary (@CharlieHarary): https://www.goingnorthpodcast.com/48-unlocking-greatness-with-charlie-harary-charlieharary/   Ep. 306 – “Be The SPARK” with Simon T. Bailey (@SimonTBailey): https://www.goingnorthpodcast.com/ep-306-be-the-spark-with-simon-t-bailey-simontbailey/   Ep. 371 – “The Power of Pivoting” with Monica Ortega (@monicagoesshow): https://www.goingnorthpodcast.com/ep-371-the-power-of-pivoting-with-monica-ortega-monicagoesshow/   139 - "Take Focused Action & Get Results" with Brian J. Olds (@BSNSpeaks): https://www.goingnorthpodcast.com/139-take-focused-action-get-results-with-brian-j-olds-bsnspeaks/

In this episode, Rachel Richards, bestselling author of "Money Honey" and "Passive Income, Aggressive Retirement", shares easy guides and strategies of getting our finance in order. She shares the success story of how she was able to retire at the age of 27 with multiple streams of passive income. She shares fun ways and ideas of sustaining and growing passive streams of income with the goal of achieving financial freedom. FIND ALL IMPORTANT INFORMATION AND LINKS FROM RACHEL RICHARDS HERE: https://linktr.ee/moneyhoneyrachel Follow Rachel Richards on Instagram: https://www.instagram.com/moneyhoneyrachel/ Thank you for joining me on this MIRROR TALK podcast journey. Kindly stay connected by subscribing or following on any platform. Please do not forget to leave a review and rating. Let us connect on Instagram: https://www.instagram.com/mirrortalk.podcast/ More inspiring episodes and show notes here: https://mirrortalkpodcast.com/ I love you, I see you, I appreciate you.

Enjoy this Summer Money reboot episode with Rachel Richards. It's true; passive income is the name of the game. At only 27 years old, former financial advisor Rachel Richards has made a name for herself in the personal finance realm. In 2019, Rachel quit her job and retired, with over $15,000 per month in passive income! She is the bestselling author of “Money Honey” and “Passive Income, Aggressive Retirement” and shares what you need to know to start building passive income right now. In this episode, you'll learn why passive income is possible and necessary to building sustainable wealth.LinksRachel's website https://www.moneyhoneyrachel.comPassive Income Aggressive Retirement by Rachel https://amzn.to/3fEHIlrEpisode SponsorsMeet the eco-friendly, FREE online shopping service called Olive. When you shop with Olive, you'll get consolidated, cardboard-free deliveries from over 100 of your favorite fashion sites. And you can return any items you don't want without ever leaving your home! Check it out at http://www.shopolive.com and enjoy!Make it the year you finally cross life insurance off your list, and get protection for your loved ones. Go to http://www.policygenius.com and get started. You could save 50% or more by comparing quotes and start the new year with one less thing to worry about.FOLLOW & SHAREBe sure to FOLLOW and SUBSCRIBE to never miss an episode– bit.ly/millennial-moneySign up for my weekly Let's Talk Money email newsletter https://bit.ly/letstalkmoneyemail Ask ShannahHave an Ask Shannah question, submit it here https://www.mmoneypodcast.com/contact-me/ Get SocialShannah on Twitter https://twitter.com/shannahgameShannah on Instagram https://www.instagram.com/shannahgame/See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Rachel Richards is a financial coach for millennials. She is the bestselling author of "Money Honey," and "Passive Income, Aggressive Retirement." Rachel is a real estate investor with almost 40 rental units. Throughout her professional career, she has experienced significant jobs in the field of finance particularly working as a financial analyst, finance manager, financial consultant, and sales manager.  She graduated from Centre College with a Bachelor's degree in Financial Economics finishing top of her class.  [00:01 – 04:15] Millennial Financial CoachLet's get to know Rachel RichardsRachel shares about her life and love for travel[04:16 – 09:14] Passive Income, Aggressive RetirementStarting Honey Money as an introvertPersonal Finance is BoringFinancial Independence: Working Because I  Want ToRachel talks about changes in time and costs of living [09:15 – 15:12] Exploring Passive Income StreamsPassive Income StrategiesE.L.F (Easy, Lucrative, Fun)How to Grow Your Business[15:13 – 21:31] Going Practical with MoneyChanging mindsets, saving quicklyHow to Make More MoneyTime Commitment: What do you do from 5 to 9?[21:32 – 30:38] THE FINAL FOURWhat's the worst job that you ever had?Working at American Eagle and a cruel real estate working experienceWhat's a book you've read that has given you a paradigm shift?The Millionaire FastlaneThe 5 Love LanguagesWhat is a skill or talent that you would like to learn?Become fluent in Italian What does success mean to you?Helping people achieve their financial dreamsPutting actions behind your wordsConnect with Rachel. Links available belowResources MentionedHoney MoneyPassive Income, Aggressive RetirementPublishedYou Must Write a BookTweetable Quotes:“If I can just help one person, that's all I want to do ” - Rachel Richards“There really isn't such a thing as a 100% passive.” - Rachel Richards“Being too cheap and cutting corners can cost you more money in the long run.” - Rachel RichardsConnect with Rachel through moneyhoneyrachel@gmail.com, Facebook, Instagram, or LinkedIn. Check out https://www.moneyhoneyrachel.com/ and https://www.moneyhoneyrachel.com/bonus and get advice from the Millennials' Financial Coach!LEAVE A 5-STAR REVIEW by clicking this link. Support the show (https://www.buymeacoffee.com/weissadvice)

Since yesterday was the 4th of July, we're talking about financial independence with someone who has achieved it at the young age of 27. Rachel Richards is a former financial advisor, a real estate investor with almost 40 rental units, and the bestselling author of “Money Honey.” She has also written “Passive Income, Aggressive Retirement” which we're covering today as we discuss the lessons Rachel has learned on her way to financial independence. Rachel quit her 9-5 job and now lives off over $15,000 a month in passive income and she spends her time doing whatever she feels like- whether that's traveling the world with her husband or hiking the Rockies with her dog. Learn how setting up streams of passive income to achieve financial independence is more attainable than you think! During this episode we enjoyed a M-43 Tart Strawberry by Old Nation Brewing! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you're not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money! Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Real estate investing can be a way to build up a passive income, but is it the right move for you? Learn about some of the different options you have and what you need to discuss before jumping in!   Is Real Estate Investing Right for Us?  We've been talking a lot this season about building and diversifying your income streams.  Part of it is in reaction to the past year or so we've had. With some industries being hit hard with job losses and hours cut, having another source of income – even if not full-time- can soften the blow.  We spoke about working from home with Modern Frugality creator Jen Smith. We also talked about entrepreneurship and building a portfolio of income streams with author Michelle Jackson. Today we're talking about another opportunity to build an income stream – real estate investing. If you've ever watched shows on HGTV or followed DIY influencers on social media, it looks fun and exciting, right?  These transformations can be dramatic and then when they go ahead and sell those houses, sometimes those numbers look tempting. Or the idea of owning properties and having rental income looks like a passive way to earn more.  But is that really the case? What does real estate investing really involve? How can we get started? How can we be smarter with how we invest?  I'm happy that Rachel Richards is joining this episode. She's an author and real estate investor with over 30 properties. With the income their properties are generating, she and her husband are able to be financially free.  In this episode we get into: different ways to invest in real estate Understanding what's really involved with investing and finding properties A peek of how one couple got into investing and how they grew it  Are you ready?  Let's get started!  Resources on Real Estate Investing Are you thinking about getting started with real estate investing? Here are some handy resources to get your finances in shape and learn more about it! Best Budget and Money Apps: Personal Capital, Tiller, Mint Jumpstart Your Marriage and Your Money Passive Income Starter Kit from Rachel Richards Passive Income, Aggressive Retirement by Rachel Richards The Book on Rental Property Investing How to Invest in Real Estate Afford Anything Podcast by Paula Pant Buy and Hold by Steve Chader Bigger Pockets Podcast Thank You to Our Sponsor Coastal! Support for this podcast comes from Coastal Credit Union! If you're living in the Raleigh Durham area and looking to bank better, come check out Coastal today. Slash Your Phone Bill with Republic Wireless! Thanks to our new sponsor Republic Wireless. If you're looking to hit your family's financial goals faster, optimizing your expenses is the way to go. Chances are you're paying too much for your smartphone and not getting the value you deserve.   Same thing happened to me years ago. Wanting to become debt free faster, I switched to Republic Wireless and saved big time.  Nationwide coverage, fantastic phone options like the Samsung Galaxy and Moto g, plus seriously affordable prices (plans start at $15/month!) make it a smart choice for families looking to save without sacrificing value.  See all they have to offer at Republic Wireless!  Support the Podcast! Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it. Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share. Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your rating and review on Apple Podcasts. Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together! Music Credit Our theme song is from Staircases. Additional music by various artists from Audiio.

Real estate investing can be a way to build up a passive income, but is it the right move for you? Learn about some of the different options you have and what you need to discuss before jumping in!   Is Real Estate Investing Right for Us?  We've been talking a lot this season about building and diversifying your income streams.  Part of it is in reaction to the past year or so we've had. With some industries being hit hard with job losses and hours cut, having another source of income – even if not full-time- can soften the blow.  We spoke about working from home with Modern Frugality creator Jen Smith. We also talked about entrepreneurship and building a portfolio of income streams with author Michelle Jackson. Today we're talking about another opportunity to build an income stream – real estate investing. If you've ever watched shows on HGTV or followed DIY influencers on social media, it looks fun and exciting, right?  These transformations can be dramatic and then when they go ahead and sell those houses, sometimes those numbers look tempting. Or the idea of owning properties and having rental income looks like a passive way to earn more.  But is that really the case? What does real estate investing really involve? How can we get started? How can we be smarter with how we invest?  I'm happy that Rachel Richards is joining this episode. She's an author and real estate investor with over 30 properties. With the income their properties are generating, she and her husband are able to be financially free.  In this episode we get into: different ways to invest in real estate Understanding what's really involved with investing and finding properties A peek of how one couple got into investing and how they grew it  Are you ready?  Let's get started!  Resources on Real Estate Investing Are you thinking about getting started with real estate investing? Here are some handy resources to get your finances in shape and learn more about it! Best Budget and Money Apps: Personal Capital, Tiller, Mint Grow Your Stash Faster: High Yield Savings with CiT Bank Free 401(k) Analysis: blooom Jumpstart Your Marriage and Your Money Passive Income Starter Kit from Rachel Richards Passive Income, Aggressive Retirement by Rachel Richards The Book on Rental Property Investing How to Invest in Real Estate Afford Anything Podcast by Paula Pant Buy and Hold by Steve Chader Bigger Pockets Podcast Key Takeaways Before we wrap up, I want to share a few key takeaways I got from speaking with Rachel and preparing this episode. Find a way to diversify your income streams.  Research and discuss how active or passive you want to be with real estate investing. How does it fit in your big picture and financial plan? Run the numbers. You have to be really objective with real estate. What down payment can you afford? What cashflow do you expect (and need)?  We really just scratched the surface today so if you want to discuss this more – ask questions, swap ideas, and talk about your progress for the year– don't forget to join us in the Thriving Families group on Facebook. We're all about helping one another out with our family and financial goals.  Hope to see you there! Thank You to Our Sponsor Coastal! Support for this podcast comes from Coastal Credit Union! If you're living in the Raleigh Durham area and looking to bank better, come check out Coastal today. We've been Coastal members for a few years have been happy with their services. They have wonderful services and accounts to make saving easier including their competitive money market accounts! Slash Your Phone Bill with Republic Wireless! I'm so happy to announce our new sponsor Republic Wireless. If you're looking to hit your family's financial goals faster, optimizing your expenses is the way to go. Chances are you're paying too much for your smartphone and not getting the value you deserve.   Same thing happened to me years ago. Wanting to become debt free faster, I switched to Republic Wireless and saved big time.  Nationwide coverage, fantastic phone options like the Samsung Galaxy and Moto g, plus seriously affordable prices (plans start at $15/month!) make it a smart choice for families looking to save without sacrificing value.  See all they have to offer at Republic Wireless!  Support the Podcast! Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it. Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share. Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your rating and review on Apple Podcasts. Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together! Music Credit Our theme song is from Staircases. Additional music by various artists from Audiio.  

At age 27, former financial advisor Rachel Richards quit her job and retired. She now lives off $10,000+ per month in passive income. Rachel Richards is the bestselling author of "Money Honey: A Simple 7-Step Guide for Getting Your Financial $hit Together." She is an entrepreneur, professional speaker, and investor. In November 2019, Rachel released her new bestselling book, "Passive Income, Aggressive Retirement," where she dives deep into the topic of passive income and financial independence. She explains why building self-sustaining income streams is so brilliant (and not to mention doable for anyone and everyone). She outlines 28 different passive income models and how to start creating them. Follow Rachel on social media! Facebook: Money Honey Rachel Instagram: @moneyhoneyrachel Download Rachel's passive income starter kit at moneyhoneyrachel.com/bonus --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app (https://anchor.fm/app)

At age 27, former financial advisor Rachel Richards quit her job and retired. She now lives off $10,000+ per month in passive income. Rachel Richards is the bestselling author of "Money Honey: A Simple 7-Step Guide for Getting Your Financial $hit Together." She is an entrepreneur, professional speaker, and investor. In November 2019, Rachel released her new bestselling book, "Passive Income, Aggressive Retirement," where she dives deep into the topic of passive income and financial independence. She explains why building self-sustaining income streams is so brilliant (and not to mention doable for anyone and everyone). She outlines 28 different passive income models and how to start creating them. Follow Rachel on social media! Facebook: Money Honey Rachel Instagram: @moneyhoneyrachel Download Rachel's passive income starter kit at moneyhoneyrachel.com/bonus --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app (https://anchor.fm/app)

Rachel Richards is an incredible example of financial success at a young age. As a Cutco/Vector sales rep, Rachel succeeded at a level high enough to pay her way through a private college, Centre College in Kentucky, and graduated debt-free with a degree in Finance. She worked as a Financial Advisor for a while, then moved over to working in the Real Estate industry, where she developed the skills to successfully invest in rental properties. By age 27, Rachel and her husband had accumulated 6 properties and 38 total units. Rachel is the author of two bestselling books, Money Honey, and Passive Income, Aggressive Retirement. Rachel also facilitates the Get Your Financial $hit Together course for Cutco TLA reps each fall. Her passive income from her rental properties, royalties, and online courses is now $15,000+ per month, more than enough to cover her personal expenses. This has enabled Rachel to “retire” from her formal work and pursue her passion of teaching others about financial independence. Rachel is currently traveling around the United States with her husband and dog, while continuing to teach women and Gen Zers about money management. To get access to all episodes and free resources, visit  ChangingLivesPodcast.com

At the age of 27, Rachel Richards quit her job and retired, living off $15,000 per month in passive income. Rachel is the bestselling author of “Money Honey” and “Passive Income, Aggressive Retirement.” She is a former financial advisor and a real estate investor with almost 40 rental units. By making the topic of money management fun, entertaining, and simple, Rachel has helped thousands of millennials work their way out of financial despair.

At the age of 27, Rachel Richards quit her job and retired, living off $15,000 per month in passive income. Rachel is the bestselling author of “Money Honey” and “Passive Income, Aggressive Retirement.” She is a former financial advisor and a real estate investor with almost 40 rental units. By making the topic of money management fun, entertaining, and simple, Rachel has helped thousands of millennials work their way out of financial despair.

Millennials, known as the stereotyped generation, are actually the ones suffering the backlash of today's economic crises. Get out of this trap with today's episode with Rachel Richards. Rachel is a full-time real estate investor who "retired"  27. As a millennial, she will share with us the pressures of her childhood and how she overcame society's imposition towards her and her generation. Let's jump right in and learn how to become financially independent at such a young age—without a trust fund!   [00:01 - 9:27] Opening Segment I introduce today's guest, Rachel Richards Passive rental income Best selling book ‘Money Honey' Rachel's money culture growing up Being poor and surrounded by Wealth Sparked by the feeling of not fitting in Fear as a motivator and a mindset change Fear of not having enough money Abusive boss as a turning point to take action Women should not be abused anywhere in any form! [9:28 - 22:37] Getting Started as a Millennial Female or Older Two levels to establish before venturing out Tracking your expenses Creating a budget plan Having financial education crisis while being expected to know how to survive Being a full-time investor Being retired and financially independent as an interchangeable term Rachel talks about her other passive incomes Lessons learned from COVID-19 Income diversification to safeguard your finances Rachel talks about her other income streams that contribute to Diversification Shoutout to my Podcast Producers: Streamlined Podcasts Use promo code: MICROEMPIRES and get a discount [22:38 - 39:22] Keeping it Cool During the Pandemic and the Foreseeable Future Rachel talks about the effects of the pandemic on her investments Having multiple properties with multiple tenants “Live below your means” attitude Real estate as a means to an end Rachel talks about how the economy is dying and how passive income could serve as an alternative Getting started in real estate investing House hacking Wholesaling Getting comfortable with being uncomfortable: Sacrificing time, money, or comfort [39:23 - 49:25] Social Media and Millennials Rachel shares her insights on social media and its effects Glamourous life's pressure People's prejudice especially on women when it comes to finances Hard work and determination  Having wealth as an opportunity to create impact Spreading knowledge and helping others [49:26 - 51:07] Closing Segment How to connect with Rachel See links below Download a free passive income starter kit Tweetable Quotes: “We are truly in a financial education crisis. At no point in our lives are we taught how to manage our money, and then we are left as young adults to figure it out all on our own.” - Rachel Richards “Having a salary in a full-time position does not equate to income and job security.” - Rachel Richards “When you become wealthy, you are giving yourself the opportunity to make a difference in the world.” - Rachel Richards Resources Mentioned: Money Honey Rachel Mint Fundrise You can connect with Rachel through Instagram and you can find her books Money Honey and Passive Income, Aggressive Retirement on Amazon. You can also get a free passive income starter kit by visiting www.moneyhoneyrachel.com/bonus.   You can connect with me on LinkedIn, Twitter, Instagram, and Facebook. I'm excited to hear more about you. I'm excited to know more about you. Also, feel free to shoot me an email at jennifer@micro-empires.com. You can call or text 213-973-7206 TELL US WHAT YOU THINK! LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes.   This podcast is about YOU.  We all have a story, whether your story is a lot like mine or totally different. Maybe you have a good job, but you know in your heart that you want more.    Let's Work Together   Subscribe to download my FREE eBook, "3 Steps to Pivot and Thrive: Using Micro-Risks to Build Your Micro Empire." Click https://micro-empires.com/coaching and I'll see you there!

At the age of 27, Rachel Richards quit her job and retired, living off $15,000 per month in passive income. Rachel is the bestselling author of “Money Honey” and “Passive Income, Aggressive Retirement.” She is a former financial advisor and a real estate investor with almost 40 rental units. By making the topic of money management fun, entertaining, and simple, Rachel has helped thousands of millennials work their way out of financial despair. Rachel shares her knowledge of financial tags that can rise up and block us from financial freedom, money mindset and adding income in addition to cutting expenses. There is help and hope as we walk out of one of the worst years of financial hardship we've seen. Rachel has developed a course in addition to her amazing literary works.  You can get in touch with Rachel at www.moneyhoneyrachel.com and follow her on Instagram at https://www.instagram.com/moneyhoneyrachel/    Sign up to get our weekly email www.TearOutTheTags.com          JOIN THE MISSION, FOLLOW Tear Out the Tags by Embldn Label   Instagram: https://instagram.com/embldnlabel/ Podcast Instagram: https://instagram.com/tearoutthetags/ Facebook: https://facebook.com/embldnlabel   THANK YOU FOR LISTENING Bee Evans  

At the age of 27, Rachel Richards quit her job and retired, living off $15,000 per month in passive income. Rachel is the bestselling author of “Money Honey” and “Passive Income, Aggressive Retirement.” She is a former financial advisor and a real estate investor with almost 40 rental units. By making the topic of money management fun, entertaining, and simple, Rachel has helped thousands of millennials work their way out of financial despair. Rachel shares her knowledge of financial tags that can rise up and block us from financial freedom, money mindset and adding income in addition to cutting expenses. There is help and hope as we walk out of one of the worst years of financial hardship we've seen. Rachel has developed a course in addition to her amazing literary works. You can get in touch with Rachel at www.moneyhoneyrachel.com and follow her on Instagram at https://www.instagram.com/moneyhoneyrachel/ Sign up to get our weekly email www.TearOutTheTags.com JOIN THE MISSION, FOLLOW Tear Out the Tags by Embldn Label Instagram: https://instagram.com/embldnlabel/ Podcast Instagram: https://instagram.com/tearoutthetags/ Facebook: https://facebook.com/embldnlabel THANK YOU FOR LISTENING Bee Evans

Why you don't need a ton of money to create passive income streamsThe true meaning of passive income and why it's different than MLMThe importance of knowing your ideal client on a deep level and knowing who you are as a business owner before you begin to create passive incomeDifferent ways you can create income streams including online courses, renting out storage space and even coin operated machinesOnly 27 years old, former financial advisor Rachel Richards has made a name for herself in the personal finance realm. In 2019, Rachel quit her job and retired, with over $10,000 per month in passive income! She is the bestselling author of “Money Honey” and “Passive Income, Aggressive Retirement.” She has been featured on the Penny Hoarder and the New York Times and has been contracted to speak at colleges. Rachel is also a real estate investor with 35 rental units. Her valuable money lessons have helped thousands of millennials work their way out of financial despair. She has successfully done what no one has done before: made the topic of money management fun, entertaining, and simple!Download the FREE Income Starter Kit: https://www.moneyhoneyrachel.com/bonusFacebook: www.facebook.com/moneyhoneyrachelInstagram: www.instagram.com/moneyhoneyrachelWebsite: www.moneyhoneyrachel.comBooks are on Amazon in ebook, paperback, audioDownload your Soul Client Attraction workbookhttps://www.theelevatedentrepreneur.net/next-level-client-attraction-workbook-opt-in

At the age of 27, Rachel quit her job and retired, living off over $15,000 per month in passive income. Rachel has made a name for herself in the personal finance realm. She is the bestselling author of Money Honey and Passive Income, Aggressive Retirement. She has been featured on the Penny Hoarder and the New York Times and contracted to speak at colleges. She is a former financial advisor and a real estate investor with almost 40 rental units. Her valuable lessons have helped thousands of female millennials work their way out of financial despair. She has successfully done what no one has done before: made the topic of money management fun, entertaining, and simple. [00:01 – 02:13] Opening Segment I introduce and welcome the guest, Rachel Richards Rachel shares what she is currently up to and her plans for the future [02:14 – 15:12] The Money Honey, Rachel Richards Rachel talks about her background and how her story began Grew up in a wealthy county with a family that always has to stick to a tight budget. Rachel's career trajectory The journey of writing her books and becoming a best-selling author Reaching one person at a time [15:13 – 21:22] Generating Passive Income Rachel talks about how they were able to generate close to $15,000 in passive income She started looking for other streams of income in 2017, aside from her w2 job. Why they chose real estate for their investing vehicle Income diversification [21:23 – 30:12] Making Personal Finance Fun and Reaching Financial Freedom Rachel shares her approach to making personal finance fun to attract people The need to sacrifice something to reach your financial freedom Rachel's journey to financial freedom Achieving balance and setting your priorities Communication is key in their relationship [30:13 – 39:26] Get Your Financial $hit Together Rachel talks about her course, https://course.moneyhoneyrachel.com/get-your-financial-hit-together (Get Your Financial $hit Together). Facing a moral dilemma of ‘why should I charge people money to help them with their money?' Is this course a fit for you? Find out now! [39:27 – 44:29] The Financial Independence, Retire Early Movement Rachel shares her thoughts on the FIRE movement [44:30 – 49:54] The Contrarian 3-Pack What would you say is the most contrarian investment you've ever made? Joining a mastermind. What's your favorite activity to do with your friends and family outside of work? Hiking What actions, whether within work or family, offer you the most fulfillment in life? Personally, it's traveling and reading. Business-wise, creating content in a way where I know, I'm genuinely helping people and doing it for the right reasons. Connect with Rachel online. See the links below. Tweetable Quotes: “I think we get way too caught up in comparing where we are now to somebody's 10-year --- we're comparing our present selves to somebody else that's been doing this for 5, 10, 15 years and who now has a lot of success.” – Rachel Richards “Maybe you are not gonna create a life-changing book the first try or do something that's gonna impact hundreds of thousands of lives the first try. But after you consistently create content and hone your craft over a few years, you can absolutely get to that point. You just have to get started.” – Rachel Richards “It's so important to understand that sacrifice has to be made one way or another if you want to achieve financial freedom. This isn't some get rich quick scheme. There's no easy road you can take when it comes to achieving this.” – Rachel Richards   Resources Mentioned: https://amzn.to/2FXVtNJ (The Motley Fool Investment Guide for Teens) https://amzn.to/2Hw2DJm (Money Honey) https://amzn.to/3mpiLvd (Passive Income, Aggressive Retirement) https://amzn.to/3os0zmw (Rich Dad Poor Dad) https://katymoses.com/woman-on-fire-transformational-mastermind/ (Woman on Fire mastermind) You can connect with Rachel...

Only 27 years old, former financial advisor Rachel Richards has made a name for herself in the personal finance realm. In 2019, Rachel quit her job and retired, with over $10,000 per month in passive income! She is the bestselling author of “Money Honey” and “Passive Income, Aggressive Retirement.” She has been featured on the Penny Hoarder and the New York Times and has been contracted to speak at colleges. Rachel is also a real estate investor with 35 rental units. Her valuable money lessons have helped thousands of millennials work their way out of financial despair. She has successfully done what no one has done before: made the topic of money management fun, entertaining, and simple! You won't want to miss this episode of the All-In Podcast. www.instagram.com/moneyhoneyrachel Connect with Nate www.natepeo.com www.procurvia.com https://www.linkedin.com/in/natepeo/

For this episode, I am happy to welcome Rachel Richards on to the show! Only 27 years old, former financial advisor Rachel Richards has made a name for herself in the personal finance realm. In 2019, Rachel quit her job and retired, with over $10,000 per month in passive income! She is the bestselling author of Money Honey and Passive Income, Aggressive Retirement. Rachel is also a real estate investor with 35 rental units. Her valuable money lessons have helped thousands of millennials work their way out of financial despair. She has successfully done what no one has done before: made the topic of money management fun, entertaining, and simple! Rachel gave us a bit of her background, telling us that she paid her way through school by selling Cutco Cutlery and therefore, had sales experience. This, coupled with her passion for teaching people about finances, is what led her to become a financial advisor. She said she didn't last long because she wasn't a fan of cold-calling people for clients. She had always been interested in real estate investing and had read a ton about it, so she worked for a time with another investor, and then a real estate agent. These experiences gave her the confidence to get into investing on her own and in 2017, Rachel and her husband bought their first duplex when she was 24 years old. I asked Rachel to give us the details of her first deal - how she found it and how she financed it. Because she had her real estate license by this time, she said she had an advantage, because she had access to the MLS. She found the property she wanted, but the listing was expired, so she contacted the agent and found out that the owners were going to list it again once they had done some work to it. Because Rachel stayed in contact with the agent, she called Rachel a couple of days before it was listed again and gave her the chance to make an offer. They financed it conventionally, having both saved money after college for the down payment, and they managed to get a seller concession for the renovation that they had to do. Rachel started writing her books while she was still working full-time and managing their rental properties, so we talked about how that came about for a bit. She said her family and friends had been asking her for financial advice for a while and she wanted to take this topic, which was normally boring and confusing, and make it fun and simple for people to understand. She said it felt like her first book, Money Honey, was always inside of her and she tried to make finances easier to learn about by sharing her own stories and mistakes. We also discussed Rachel's second book, Passive Income, Aggressive Retirement, in which she discusses twenty-eight different passive income models that anyone can get involved with, regardless of age or station in life. I asked Rachel to describe how she proceeded with her investing as she moved forward from the first deal. She shared with us that the different ways having her real estate license benefited her. She continued to monitor the MLS for potential deals, using subscriptions and saved searches so that she would get email notifications for properties she was interested in. She felt like this gave her a real time advantage, as she could be at a property within 30 minutes of it being listed. Even though Rachel and her husband are no longer actively investing because they have the rental income they wanted to achieve, Rachel is still very passionate about teaching others about financial literacy so she is invested in creating online courses. The first one that she has created is called “Get Your Financial $hit Together” which you can check out by following the links below. Join me as I interview this incredibly impressive investor and financial guru as she shares some of the secrets of how she earned financial independence! Don't miss today's episode with Rachel Richards on the Just Start Real Estate Podcast! Notable Quotes: “To me, real estate is one of the best tools for building long-term wealth. From an early age, I knew that this was going to be my path to financial independence.” Rachel Richards “From a very early age, I tried to save 50% of my income.” Rachel Richards “Just get creative… there are ways you can do this.” Mike Simmons “The last thing you want to do is operate from a place of panic and desperation.” Rachel Richards “I just try not to take myself too seriously.” Rachel Richards “I am not afraid to admit when I am making mistakes and doing embarrassing things.” Rachel Richards “Having my real estate license was brilliant because I was the buyer's agent on all of our deals and would get a significant check at closing, which helped us continue investing.” Rachel Richards “There are some things you can't be cheap with, like property management.” Rachel Richards “Hopefully someone will learn from my mistakes.” Rachel Richards “For us, real estate investing is a means to an end.” Rachel Richards “The way I define passive income is that it is money that is earned with little or no ongoing effort.” Rachel Richards Links: Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months Rich Dad Poor Dad Money Honey: A Simple 7-Step Guide For Getting Your Financial $hit Together Passive Income, Aggressive Retirement: The Secret to Freedom, Flexibility, and Financial Independence (& how to get started!) Get Your Financial $hit Together Rachel's Website 7 Figure Flipping Return on Investments Just Start Real Estate JSRE on Facebook Mike on Facebook Mike on Instagram Mike on LinkedIn Mike on Twitter

Rachel Richards has learned the hard way how to assemble a portfolio of passive income vehicles so she has been able to retire early and enjoy life. In this interview with Jordan Goodman, she will explain the many ways to generate passive income from royalties, securities, coin operated machines, e-commerce and real estate rentals. She will also warn listeners about the three most deadly mistakes to avoid in building a portfolio of passive income. Bio: At the age of 27, Rachel Richards quit her job and retired, living off $15,000 per month in passive income. Rachel is the best-selling author of Money Honey and Passive Income, Aggressive Retirement. She is a former financial advisor and a real estate investor with almost 40 rental units. By making the topic of money management fun, entertaining and simple, Rachel has helped thousands of millennials work their way out of financial despair. Her website is www.moneyhoneyrachel.com

Rachel Richards has learned the hard way how to assemble a portfolio of passive income vehicles so she has been able to retire early and enjoy life. In this interview with Jordan Goodman, she will explain the many ways to generate passive income from royalties, securities, coin operated machines, e-commerce and real estate rentals. She will also warn listeners about the three most deadly mistakes to avoid in building a portfolio of passive income. Bio: At the age of 27, Rachel Richards quit her job and retired, living off $15,000 per month in passive income. Rachel is the best-selling author of Money Honey and Passive Income, Aggressive Retirement. She is a former financial advisor and a real estate investor with almost 40 rental units. By making the topic of money management fun, entertaining and simple, Rachel has helped thousands of millennials work their way out of financial despair. Her website is www.moneyhoneyrachel.com

Only 27 years old, former financial advisor Rachel Richards has made a name for herself in the personal finance realm. In 2019, Rachel quit her job and retired, with over $10,000 per month in passive income! She is the bestselling author of “Money Honey” and “Passive Income, Aggressive Retirement.” She has been featured on the Penny Hoarder and the New York Times and has been contracted to speak at colleges. Rachel is also a real estate investor with 35 rental units. Her valuable money lessons have helped thousands of millennials work their way out of financial despair. She has successfully done what no one has done before: made the topic of money management fun, entertaining, and simple!

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Are you familiar with the concept of “making money while you sleep?” If not, chances are you'd like to be. Many would argue that there's no such thing as true, passive income, but my guest this week would beg to differ. Rachel Richards knows a thing or two about generating passive income. She's the bestselling author of “Money Honey” and “Passive Income, Aggressive Retirement”. Rachel quit her job as a financial advisor at age 27, and today lives off of $15,000 per month in passive income. This includes close to 40 rental properties. According to Rachel, just about anyone can build a passive income stream, and she's here to show us how to get started. You can find the show notes for this episode at https://maplemoney.com/114 Did you know? You can now transfer money overseas with TransferWise directly from your EQ Bank Savings Plus account. Not only will you benefit from earning 1.70% interest on your savings, but you'll pay far less for international money transfers. While other banks have a habit of sneaking in markups and extra charges, that's not something you'll have to worry about with EQ Bank. Visit https://maplemoney.com/eqbank to start saving money today.

Reaching financial independence and retiring early is the holy grail of personal finance. But what does financial independence really mean, and how can we achieve it? Our guest today has some ideas. Rachel Richards is a former financial advisor and bestselling author of Money Honey and Passive Income, Aggressive Retirement. She is also a real estate investor with over 35 rental units, as well as a professional speaker, and an entrepreneur. Rachel is well-known for retiring at the age of 27 and living off $15,000 per month in passive income. In this episode, Rachel shares her early foray into real estate and the mindset shift that occurred when her and her husband bought their second property and realized it was the way to achieve financial freedom and realize her dream of retiring early. She talks about the process of writing two books, scaling her real estate business, and creating multiple streams of passive income, as well as learning from her mistakes. Rachel also shares some advice for those looking to manage properties out of state, write a book, or share their unique gift with the world. Tune in today!

Hey you wild women! At only 27 years old, as a former financial advisor, Rachel Richards has made a name for herself in the personal finance realm. In 2019, she quit her job and retired, with over $10,000 per month in passive income! She is the bestselling author of “Money Honey” and “Passive Income, Aggressive Retirement.” She has been featured on the Penny Hoarder and the New York Times and has been contracted to speak at colleges. Rachel is also a real estate investor with 35 rental units. Her valuable money lessons have helped thousands of millennials work their way out of financial despair. She has successfully done what no one has done before: made the topic of money management fun, entertaining, and simple! In This Episode, You Will Learn About: How Rachel made her mark in a male dominated industry Creating relatable, fun content to cater to the female audience “You don't have to be great to start, but you have to start to be great.” -Zig Ziggler: The importance of executing ideas to make progress with action Overcoming imposter syndrome Acknowledging your fears as a sign that you care Learning to be selective and proactive with your time Why you need to take your email list seriously and build it from the beginning How Rachel found her love of the financial world from an early age Why she quit her job: Creating independence and flexibility Overcoming societal expectations of women in the workforce Stepping out of your comfort zone Creating a business using consistency and dedication The definition of passive income How Rachel created her monthly passive income using multiple revenue streams The most common financial mistakes women make Where to start with managing your finances: How to decrease expenses and increase income Utilizing daily affirmations to change your mindset How societal expectations and imposter syndrome impact women's relationship with finance Bucking the trend of undervaluing yourself: Showing up with confidence and learning not to fear rejection The necessity of creating projections for your business to prevent initial over spending How Rachel maintains a work/life balance by staying true to her core values Anyone at any age can achieve financial freedom Resources: Website: Money Honey Rachel Instagram: @moneyhoneyrachel Facebook: Money Honey Rachel Books: Money Honey and Passive Income, Aggressive Retirement Course: Get Your Financial $hit Together Freebie: Passive Income Starter Kit Public Shout Outs: The Motley Fool Investment Guide for Teens: 8 Steps to Having More Money Than Your Parents Ever Dreamed of by David Gardner and Tom Gardner Mint YNAB Buffer Later Tailwind What it means to be a WILD woman: Being non-apologetic, independent and figuring out how to do things yourself. ~ Rachel Richards ---- Renée Warren is an award-winning entrepreneur, a 7-figure business starter, and the founder of We Wild Women, a business dedicated to helping women launch their dream business. She previously founded an industry-recognized PR agency that worked with funded technology startups from South Africa to San Diego. She's a mom to Irish Twins (not planned), a published author, and a drummer. Rate, review, and subscribe on Apple Podcast "I love Into The Wild, and think it's the best thing since sliced bread."

Welcome to Conscious Millionaire Epic Achiever Podcast, with your Host, Marcus Aurelius Anderson... Rachel Richards: Passive Income for Aggressive Retirement! At age 27, Rachel Richards quit her job and retired, living off over $10,000 per month in passive income. She's a bestselling author of two books, a professional speaker, and a former financial advisor, and she's helped thousands of female millennials out of financial despair. SUBSCRIBE IN ITUNES And, download your free gift today... Get the High Performer Formula to Make Millions – Click Here! Please help spread the word. Subscribing and leaving a review helps other entrepreneurs and business owners find our podcast… grow a high-profit business that makes an impact. Help your friends Become a Conscious Millionaire! They will thank you for it. Conscious Millionaire Network has over 2,000 episodes and 12 Million Listeners in 190 countries. Our original Conscious Millionaire Podcast was named in Inc Magazine as one of the Top 13 Business Podcasts!

Today our expert guest is Rachel Richards, a 27-year old former financial advisor who's made a name for herself in the personal finance realm when she quit her job in 2019 and retired with over $10,000 a month in passive income. She's the best-selling author of “Money Honey” and “Passive Income, Aggressive Retirement.” She's been featured on The Penny Hoarder and the New York Times and has been contracted to speak at several colleges. Her money lessons have helped thousands of millennials work their way out of financial despair. She's done the impossible—making the topic of money management fun, entertaining, and simple. Being financially responsible from a young age, Rachel and her husband were able to buy a duplex in Kentucky after graduating from college debt-free. They saved up enough money for a downpayment in a few years and began their real estate journey. In that same year, Rachel also published her first book, “Money Honey,” which became another valuable income stream. By last year, they had 35 rental units and two books making significant amounts of money and allowing Rachel to retire. Now, she wants to help others duplicate what she's done. Everyone's situations are going to be different, and your path likely won't be exactly the same as Rachel's, but she does have some advice for getting started. The first thing you need to do, before you start thinking about passive income, is to make sure everything else is in order financially—that your high-interest debts are paid off, you have money in emergency savings, and that you're prepared for when there is a recession. The next step is to start thinking of how you can diversify your income. If one piece of your income dries up, you still have other income streams coming in. And that's where you start thinking of passive income. When you're first starting out with passive income, the first question to ask yourself is: Do you have more time or more money? If your answer is neither, ask yourself which you can free up more of, because you will need one or the other to create passive income. If you're trying to free up money there are two main approaches: Spending less or making more. Reducing your expenses is important but there's a hard limit to how much you can do there. The flip side of that is increasing your income, which has unlimited potential. Rachel's main avenues for passive income were through real estate and book royalties, but those are far from the only options. In her book, “Passive Income, Aggressive Retirement,” Rachel outlines 28 different passive income models—there is something out there for everyone, and you only need to find the one or two that work for you. Coin-operated vending machines and laundromats are two popular models of passive income. If you have a skill that you are knowledgeable in you can create an online course and generate income through that. There are so many options, and there is something for everyone.   The Biggest Helping: Today's Most Important Takeaway “Anybody can do this. I am no more special or smart or hardworking than anybody else out there. Anyone at any age and on any income can absolutely achieve financial independence.”   --   Thank you for joining us on The Daily Helping with Dr. Shuster. Subscribe to the show on Apple Podcasts, Stitcher, or Google Play to download more food for the brain, knowledge from the experts, and tools to win at life.   Resources: Learn more: moneyhoneyrachel.com Passive Income Bonus Kit: moneyhoneyrachel.com/bonus Read: “Money Honey” Read: “Passive Income, Aggressive Retirement” Instagram: instagram.com/moneyhoneyrachel Facebook: facebook.com/moneyhoneyrachel   The Daily Helping is produced by Crate Media

Episode: 101 Rachel Richards   Join David Pere and Alexander Felice with Rachel Richards as they talk about creating passive income. With the pandemic trying to bring everything down, it's essential that we're prepared for the worst. Rachel shares her experience of being financially free at 27 years old!   In this episode, you'll learn: Different passive income options, including book royalties and launching a course. The control you have over problems with real estate. Finding fulfilling things to do when you're financially free. Having an exit strategy and not putting all your eggs on one basket. Don't let yourself act out of desperation! Transitioning from rental income to portfolio income.   ~   About Rachel Richards:   Only 27 years old, Rachel quit her job and retired, living off over $10,000 per month in passive income. Rachel has made a name for herself in the personal finance realm. She is the bestselling author of Money Honey and Passive Income, Aggressive Retirement. She has been featured on the Penny Hoarder and the New York Times and contracted to speak at colleges. Her valuable lessons have helped thousands of female millennials work their way out of financial despair. She has successfully done what no one has done before: made the topic of money management fun, entertaining, and simple.   ​Rachel has a Bachelor of Science in Financial Economics from Centre College. She has held roles as a financial advisor, a real estate analyst, and a senior finance analyst.   Rachel is based in Colorado with her husband and dog. - Advice to an 18-20-year old: You can't start a business selfishly, you need to solve a problem - Recommended resource(s): Hold: https://amzn.to/38MOyRd   ~   You can find Rachel Richards on… Website: https://www.moneyhoneyrachel.com/ Instagram: https://www.instagram.com/moneyhoneyrachel/ Facebook: https://www.facebook.com/MoneyHoneyRachel/   Get Rachel's book here: https://www.amazon.com/Passive-Income-Aggressive-Retirement-Independence-ebook/dp/B081DH1V97 - Invest with us here: https://www.frommilitarytomillionaire.com/investors/ - Real Estate Investing Course: https://www.frommilitarytomillionaire.com/teachable-rei Recommended books and tools: https://www.frommilitarytomillionaire.com/kit/ Become an investor: https://www.frommilitarytomillionaire.com/investor/ - SUBSCRIBE: https://bit.ly/2Q3EvfE - Website: https://www.frommilitarytomillionaire.com/start-here/ Instagram: https://www.instagram.com/frommilitarytomillionaire/ Facebook: https://www.facebook.com/groups/militarymillionaire/ - My name is David Pere, I am an active duty Marine, and have realized that service members and the working class use the phrase "I don't get paid enough" entirely too often. The reality is that most often our financial situation is self-inflicted. After having success with real estate investing, I started From Military to Millionaire to teach personal finance and real estate investing to service members and the working class. As a result, I have helped many of my readers increase their savings gap, and increase their chances of achieving financial freedom! - Click here to SUBSCRIBE: https://bit.ly/2Q3EvfE to the channel for more awesome videos! THIS SITE IS INDEPENDENTLY OWNED AND OPERATED. ALL OPINIONS EXPRESSED HEREIN ARE MY OWN. THE VIEWS EXPRESSED ON THIS SITE ARE THOSE OF THE AUTHOR OR THE AUTHOR'S INVITED GUEST POSTERS, AND MAY NOT REFLECT THE VIEWS OF THE US GOVERNMENT, THE DEPARTMENT OF DEFENSE, OR THE UNITED STATES MARINE CORPS.  

Rachel Richards was able to retire at the young age of 28 years old. Not only is she no longer working unless she wants to, but she is living off of $15,000 a month in passive income. Rachel now owns over 40 real estate properties across the spectrum from duplex real estate to multi-family complexes. She is also the author of two Amazon Best Seller's ‘Money Honey' and ‘Passive Income, Aggressive Retirement.' Rachel makes the idea of retirement at an earlier age a lot more attainable with her straightforward and actionable advice. In addition to her incredible books, she is offering our listeners her free passive income starter kit, which can be found at www.moneyhoneyrachel.com/bonus!

If I said, “Name the best quote from Jerry Maguire,” what would you say? If you said, “You complete me,” you're close … but no cigar. The best quote is, of course, “Show me the money!” Today we're going to be tackling the always-popular topic of MONEY … specifically, how to build passive income streams so you have the option of retiring and pursuing the things that matter to you most. My guest today is Rachel Richards, who is a former financial advisor who is now a real estate investor, business owner, and professional speaker. At 27 years old, Rachel quit her job and retired, living off $10,000+ per month in passive income. Rachel is also the bestselling author of two amazing books: Money Honey and Passive Income, Aggressive Retirement. When I say “bestselling,” I mean it. Rachel's books have hundreds of reviews on Amazon, and she's done a great job of not only writing books but also getting her message out there with creative marketing. I make it my goal to have interesting guests on this podcast, and Rachel is no exception. This is a wide-ranging conversation, where we touch on passive income, being an owner vs. an employee, how a book can help your business explode in success, her book marketing strategies, real estate investing, and much more. Make sure and grab Rachel's Passive Income Starter Kit at https://moneyhoneyrachel.com/bonus. You can check out Rachel's books on Amazon: Money Honey and Passive Income, Aggressive Retirement, as well as connect with her on Facebook, Instagram, and Twitter. You can find the full show notes here: https://kentsanders.net/179 Need a ghostwriter for your next project? Learn more here: https://inkwellghostwriting.com. *** If you enjoyed this episode, we'd love for you to leave a review on Apple Podcasts. It helps more people discover the show, which helps us create better content and resources. Subscribe and grab your free gift: https://kentsanders.net/subscribe Follow Kent: Facebook: https://facebook.com/kent.sanders Instagram: https://instagram.com/kentsanders Twitter: https://twitter.com/kentsanders

Bestselling author of "Money Honey," and "Passive Income, Aggressive Retirement." Real estate investor with over 35 rental units, professional speaker, and entrepreneur. Former financial advisor with a BS in Financial Economics from Centre College https://www.linkedin.com/in/rachelhoperichards/

About This Episode: Only 27 years old, former financial advisor Rachel Richards has made a name for herself in the personal finance realm. In 2019, Rachel quit her job and retired, with over $10,000 per month in passive income! She is the bestselling author of “Money Honey” and “Passive Income, Aggressive Retirement.” She has been featured on the Penny Hoarder and the New York Times and has been contracted to speak at colleges. Rachel is also a real estate investor with 35 rental units. Her valuable money lessons have helped thousands of millennials work their way out of financial despair. She has successfully done what no one has done before: made the topic of money management fun, entertaining, and simple! Find out more about Rachel at:Money Honey Rachel Passive Income, Aggressive Retirement: The Secret to Freedom, Flexibility, and Financial Independence (& how to get started!) Money Honey's Twitter Instagram Bonus from Money Honey See the Show Notes: www.jeremyryanslate.com/724 Sponsors: Gusto: This episode is sponsored by Gusto. Run your payroll the easy way, the same way we do at Command Your Brand. You'll get a. $100 Amazon Gift Card just for running your first payroll! www.jeremyryanslate.com/gusto Audible: Get a free 30 day free trial and 1 free audiobook from thousands of available books. Right now I'm reading "The Science of Getting Rich,"by Wallace D. Wattles, about building real wealth. www.jeremyryanslate.com/book  

About This Episode: Only 27 years old, former financial advisor Rachel Richards has made a name for herself in the personal finance realm. In 2019, Rachel quit her job and retired, with over $10,000 per month in passive income! She is the bestselling author of “Money Honey” and “Passive Income, Aggressive Retirement.” She has been featured on the Penny Hoarder and the New York Times and has been contracted to speak at colleges. Rachel is also a real estate investor with 35 rental units. Her valuable money lessons have helped thousands of millennials work their way out of financial despair. She has successfully done what no one has done before: made the topic of money management fun, entertaining, and simple! Find out more about Rachel at:Money Honey Rachel Passive Income, Aggressive Retirement: The Secret to Freedom, Flexibility, and Financial Independence (& how to get started!) Money Honey's Twitter Instagram Bonus from Money Honey See the Show Notes: www.jeremyryanslate.com/724 Sponsors: Gusto: This episode is sponsored by Gusto. Run your payroll the easy way, the same way we do at Command Your Brand. You'll get a. $100 Amazon Gift Card just for running your first payroll! www.jeremyryanslate.com/gusto Audible: Get a free 30 day free trial and 1 free audiobook from thousands of available books. Right now I'm reading "The Science of Getting Rich,"by Wallace D. Wattles, about building real wealth. www.jeremyryanslate.com/book  

Only 27 years old, former financial advisor Rachel Richards has made a name for herself in the personal finance realm. In 2019, Rachel quit her job and retired, with over $10,000 per month in passive income! She is the bestselling author of “Money Honey” and “Passive Income, Aggressive Retirement.” She has been featured on the Penny Hoarder and the New York Times and has been contracted to speak at colleges. Rachel is also a real estate investor with 35 rental units. Her valuable money lessons have helped thousands of millennials work their way out of financial despair. She has successfully done what no one has done before: made the topic of money management fun, entertaining, and simple! Disclaimer - A lot of the ideas given in the book are from the US perspective since Rachel is based there. However, 90% of the ideas she talks about can directly translate to something in India as well.  Always interested in Finance, got excited about compound interest in 6th grade! So many resources available for people to know about money (books, blogs and podcasts) and knowledge gaps still existed. To bridge the gap, Rachel wrote a her first book (Money Honey - A simple 7 Step Guide to get your financial shit together) to help individuals get to grips with an intimidating topic.  Step 1 - Change your narrative and relationship with money. Start appreciating what all money has given you and start with affirmations that you have enough money and that money is abundant.  Step 2 - Make a budget to get a sense of your current financial situation and figure out where to cut back. Cutting expenses is great. Now, it is time to figure out what can be done to increase your income. "There is no cap on how much income you can make in a year". To make a real impact on your budget, focus on both. Decreasing expenses and increasing income.  Step 3 - Differentiate what kind of income to generate. Passive Income or Active Income. Active Income - Trade your time for money. Passive Income - Invest a bunch of time at once and little to nothing thereafter.  What are the different passive income streams - a. Rental Income b. Portfolio Income - Dividend. (Large pool of money required) c. Royalty Income - Books, Online Courses, Songs, Podcasts d. Coin Operated Machines – Vending Machines, Food Dispensers, Laundramats (US Specific) e. E-Commerce - Blog, Podcast, Substack (How can I outsource), Ad-Money, Affiliate Marketing and Drop Shipping.  How to make an investment in Real Estate without a large downpayment? a. Invest in a REit. (Real Estate Investment Trust), to get the exposure to the returns from Real Estate without having to make a large investment. In India, Embassy Parks has a REit. (You check out more details here -  b. Owner Financing - Ask the owner of the property to finance a portion of the loan. c. Broking - Identify promising real estate properties and pitch it to investors for a profit share or brokerage cut.  d. Wholesaling - Go identify Real Estate Deals and sign a contract. Later, identify an investor and assign the contract to them for a fee. Like broking. Books –  Money Honey: A Simple 7-Step Guide for Getting Your Financial $hit Together  Passive Income, Aggressive Retirement: The Secret to Freedom, Flexibility, and Financial Independence (& how to get started!) Passive Income Bonus Kit - www.moneyhoneyrachel.com/bonus Reach out to Rachel –  FacebookInstagramTwitterWebsite Reach out to Naga –  Twitter - @n1n3stuff / @PassionPeop1 (https://twitter.com/ThePassionPeop1 ) Sound Attribution and Credits - Music from Pipo and Wowa(you should check out thier music on Spotify here - https://open.spotify.com/artist/6zZPxLiRfbGUnoEAJmfJJN) from Unminus. All music other than the jingle on the episode is under the CC0 License and downloaded from freesound.org , freemusicarchive.org and unminus.com Warning - Please consult a professional advisor before you make any financial decisions. Any opinions shared on this podcast should not be considered as professional advice and is for informational purposes only.    Follow The Passion People Podcast on Twitter You can follow us and leave us feedback on Facebook, Instagram, and Twitter @eplogmedia, For advertising/partnerships send you can send us an email at bonjour@eplog.media. If you like this show, please subscribe and leave us a review wherever you get your podcasts, so other people can find us. You can also find us on https://www.eplog.media/thepassionpeoplepodcast DISCLAIMER: The views expressed on all the shows produced and distributed by Ep.Log Media are personal to the host and the guest of the shows respectively and with no intention to harm the sentiments of any individual/organization. The said content is not obscene or blasphemous or defamatory of any event and/or person deceased or alive or in contempt of court or breach of contract or breach of privilege, or in violation of any provisions of the statute, nor hurt the sentiments of any religious groups/ person/government/non-government authorities and/or breach or be against any declared public policy of any nation or state. See omnystudio.com/listener for privacy information.

I can't begin to tell you how much I enjoyed this episode with Rachel.  Successful doesn't begin to define her.  This is by far one of my favorite interviews of all time!Bestselling author of "Money Honey," and "Passive Income, Aggressive Retirement." Real estate investor with over 35 rental units, professional speaker, and entrepreneur. Former financial advisor with a BS in Financial Economics from Centre College. moneyhoneyrachel.comthepositivesidepodcast.comJeremy@jeremytodd.com

Only 27 years old, Rachel Richards quit her job and retired, with over $10,000 per month in passive income! She is the bestselling author of “Money Honey” and “Passive Income, Aggressive Retirement.” Rachel is also a real estate investor, professional speaker, and former financial advisor. She has successfully done what no one has done before: made the topic of money management fun, entertaining, and simple! “when you are an entrepreneur you have to be proactive about your calendar. Do not let your calendar rule your life. Everything you say yes to means you are saying no to something else. So you have to be proactive with your big goals and priorities and put those on your calendar first otherwise your calendar will fill it with everyone else's big goals and priorities. So just make sure that you are protecting your time”…[Listen for More] Click Here for Show Notes To Listen or to Get the Show Notes go to https://wp.me/p6Tf4b-7s5