Podcasts about ready investor one

Paul Thompson has been featured in numerous real estate podcasts and hosts his own podcast called Ready Investor One where he teaches the mindset and mechanics of real estate investing. He also manages a real estate mastermind community called MyFreedom Foundry where he helps investors forge their personal and financial freedom. In addition to owning rental property, his current real estate businesses includes a Hard Money Lending business and a newly founded land development company in Texas. He is the # 1 Best-Selling author of  ESCAPE: Money Mindset To Freedom With Stocks, Real Estate and Starting Your Own Business In our podcast, Paul shares how he got his wake up call to start his own real estate business and what made him pursue a life of freedom rather than working at his 9-5 job for the rest of his life. Paul also shares his best insights into what it takes to run a successful business, how to educate yourself as an entrepreneur, why real estate is the best wealth building tool, and why you need to start your business right now instead of waiting for the right moment! You Can Find Paul @: Website: https://pauldavidthompson.com/ TikTok: https://www.tiktok.com/@pauldavidthompson Instagram: https://www.instagram.com/pauldavidthompson/

Today's Guest is Paul Thompson.   Paul has been featured in numerous real estate podcasts and hosts his own podcast called Ready Investor One where he teaches the mindset and mechanics of real estate investing. Join Sam and Paul in today's show. -------------------------------------------------------------- [00:00:00] Intro [00:01:34] The challenges of ground-up development [00:05:18] Dealing with entitlements and negotiating with the city [00:10:02] The entitlement process and financing [00:11:48] The decision to pursue larger projects [00:13:38] Underwriting multifamily properties [00:20:45] Paul's journey from single-family investing to multifamily development [00:20:29] Challenges faced in ground-up development [00:21:14] Closing -------------------------------------------------------------- Connect with Paul: Facebook: https://www.facebook.com/pauldavidthompson180  Instagram: https://www.instagram.com/pauldavidthompson/  Twitter:https://twitter.com/WinCoreInvest  Linkedin: https://www.linkedin.com/in/paulthompson-wincoreinvest/ Web: https://pauldavidthompson.com/free-resources/   Connect with Sam: I love helping others place money outside of traditional investments that both diversify a strategy and provide solid predictable returns.     Facebook: https://www.facebook.com/HowtoscaleCRE/ LinkedIn: https://www.linkedin.com/in/samwilsonhowtoscalecre/ Email me → sam@brickeninvestmentgroup.com   SUBSCRIBE and LEAVE A RATING. Listen to How To Scale Commercial Real Estate Investing with Sam Wilson Apple Podcasts: https://podcasts.apple.com/us/podcast/how-to-scale-commercial-real-estate/id1539979234 Spotify: https://open.spotify.com/show/4m0NWYzSvznEIjRBFtCgEL?si=e10d8e039b99475f -------------------------------------------------------------- Want to read the full show notes of the episode? Check it out below: Paul Thompson (00:00:00) - The way it works in the development business is the longer you hold the land, the more money you make. So the sooner you sell, you can still make money, but you make less money. So like, well, we don't need to sell this this property right now. Let's go to the next level and do the horizontal development. Well, once you do that, you're like, Well, can't we keep some of it and do the multifamily side of it as well? And that's where we stand. Welcome to the How.   Sam Wilson (00:00:23) - 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. Paul Thompson has been featured in numerous real estate podcasts and hosts his own podcast called Ready Investor One, where he teaches the mindset of real estate investing. Paul, welcome to the show.   Paul Thompson (00:00:45) - Thanks for having me, Sam.   Sam Wilson (00:00:46) - Absolutely. The pleasure is mine. Paul There are three questions I ask every guest who comes on the show in 90s or less.   Sam Wilson (00:00:51) - Can you tell me where did you start? Where are you now and how did you get there?   Paul Thompson (00:00:55) - Where did I start? Cut my teeth in multifamily. I'm sorry. Come on. Teeth with single family and have since gone to multifamily. I did that as a way to escape my day job. I was a corporate guy. Recovered. I'm still recovering, I think, from being a corporate drone. And so now I have a portfolio of single family in Little Rock, Arkansas, where I live, but now I'm doing multifamily development in syndications in the Dallas-Fort Worth market.   Sam Wilson (00:01:24) - Wow. Wow. That's a big jump. What what was the thing that really compelled you to say? All right, we're going to go do something bigger.   Paul Thompson (00:01:34) - Well, I bought I bought and sold a lot of single family. Like I've gotten really good at doing that. If it can be done in single family, I've probably done nearly all of it and it became kind of pedestrian to me and I was playing it a bit safe.   Paul Thompson (00:01:49) - And if you really want to scale, which I did, then I wasn't sure that buying 100 single family properties was the best play and I wanted to jump off in the deep end. So instead of just buying an apartment complex, I decided to do a ground up development. So I just I really went for it.   Sam Wilson (00:02:07) - Wow. Okay. So you took on the ground up development project on your own. You said, All right, we're going to do a ground up development. It's a multifamily property. Uh huh. Whoa, whoa. Walk us through walk us through that. I mean, that's ambitious. Like that's I mean, just to get lending, to get investors, to get all those things lined up, you had to do a lot of things, right? What were they?   Paul Thompson (00:02:27) - Yeah, I'm still in the middle of it. So we'll we'll give you a full report in a couple of years when it's all said and done. But the learning and the process so far was that I was a member of a mastermind where we were working on mindset and trying to figure out kind of what our bottlenecks are and kind of designing our life.   Paul Thompson (00:02:49) - And I have a good life. I've nothing to complain about, but I felt like I had the potential to do a lot more. And I met a really good friend and he and I are still business partners at this mastermind. And he said, You know, I live in Dallas and I feel like we're in a good market. I really want to get into this land business. Interested in since you've done a lot of wholesaling and flipping and stuff, you kind of know the marketing side better than I do and our values aligned and we're still, you know, considered one of my best friends in the world and talked to him on a daily basis. And I really enjoy that business. So that's how it started. And then it evolved from there to, well, we've got the land entitled now. I mean, like let's we could just sell it. But the way it works and the development business is the longer you hold the land, the more money you make. So the sooner you sell, you can still make money, but you make less money.   Paul Thompson (00:03:41) - So like, well, we don't need to sell this this property right now. Let's go to the next level and do the horizontal development. Well, once you do that, you're like, Well, can't we keep some of it and do the multifamily side of it as well? And that's where we stand.   Sam Wilson (00:03:55) - Wow. What was the timeline from? Hey, here's an idea to when you identified a parcel that you said, Hey, this is a place where it will work.   Paul Thompson (00:04:04) - You probably took 3 or 4 months and made lots of offers not knowing we were doing. We did the I come from a kind of a wholesaling marketing background so I can do that. I don't necessarily say I enjoy it, but I know how to do it. And we sent lots of letters to landowners and we ended up finding a friend of ours that had a property and he's in the business and he had a property and said, This is a small one for me, probably smaller than I care to fool with. Would you guys be interested? I'll you'll pay me an assignment fee, but I'll show you the ropes and here's a good project for it.   Paul Thompson (00:04:36) - And that's that's been all we needed because that has then kind of dovetailed into a couple of deals.   Sam Wilson (00:04:43) - Right? So were you guys were you guys marketing for off market land then?   Paul Thompson (00:04:47) - We were.   Sam Wilson (00:04:48) - Gotcha. Okay. So yeah, I was wondering, I'm like, if you're going to, you know, again, if you're the DFW market, there's a property on the market. I mean, getting just the credibility with the brokers and with the sellers that says, Hey, we're going to take it's hard.   Paul Thompson (00:05:00) - Yeah, yeah.   Sam Wilson (00:05:01) - It would be hard. So finding it off markets probably a little bit. A smarter way to go about that. So you had the idea. Four months later, you acquire the land and then you're like, okay, we're going to go through entitlements. What are some things that you learned that maybe you wish you had known early on about entitlements?   Paul Thompson (00:05:18) - Lesson number one you don't buy land unless it's entitled. You can get it under contract subject to getting it entitled. And that's the way we do it now.   Paul Thompson (00:05:27) - But the first property we bought a little too quickly and it ends up we're going to be okay with it. But we had a surprise development in the middle of our process that the city didn't really want to do what we want to do with it. So we had to I mean, it's it's what they call it's in the county or in the Texas. They call it the edge. And it was kind of out in the county there. And that gives you options. You can annex into the city or you can stay in the county and it gives you some options. And basically we're running into some hassles with the city. And they're not. They say they want to do all the things you want to do, but then when it comes time to negotiate what they call the developer's agreement, they're like, well, we don't want to commit to anything. It's like, well, I'm not going to annex into the city unless you commit to something. And, you know, just that's that's the process of entitlement is dealing with the cities and going through the legalities and negotiating with lawyers who everybody typically means pretty well, but no one person has the say.   Paul Thompson (00:06:26) - So you're having to kind of like piece all this things together and even the people you're interfacing with, with the city, they're the city planner or the city attorney. They're not the city. They're just like employees of the city. And so this is really weird dynamic where you're trying to get the council to agree to something, but the council has no idea what you're doing. Because they're not involved in the conversations.   Sam Wilson (00:06:50) - So how do you how do you work around that?   Paul Thompson (00:06:53) - Well, you fight with the city planner. I say fight, but you have very pointed conversations with the city planner and especially the city attorneys. And you're like, no, the city does want to do this because they're going to get tax revenue. Does the city want tax revenue? Well, of course they do. Okay. Well, then this is how they get it. And you just have to play that game a lot and negotiate back and forth, have lots of meetings. Like, sometimes it feels like I'm back in corporate because I'm like, trying to, like, herd the cats a lot.   Paul Thompson (00:07:18) - And. And when it goes well, it's awesome. And when it doesn't, it's really frustrating.   Sam Wilson (00:07:23) - Yeah, man, I can only. I can only imagine what? How would you, other than waiting, you know, to close on the land, subject to whatever your plans are, getting entitlements done. What what else would you do to maybe expedite that process and or just kind of grease the wheels?   Paul Thompson (00:07:41) - I have learned that you don't expedite the process. No matter what you think you can do to make it go faster. The process is the process. And it's it's just government, right? So, like, you just can't make it go faster. So you basically have to negotiate with the seller to allow the and educate them that this is what it takes in any developer who's going who's worth their salt is going to do this, this, this same thing. They're not going to just buy it hoping and wishing that that that we're going to get the the terms we need from the city.   Sam Wilson (00:08:13) - Um, could you have gone to the city in advance and said, Hey, what do you guys want?   Paul Thompson (00:08:20) - Yes, we did.   Paul Thompson (00:08:21) - We can. And we did. And they said, we want this. This would be great. Let's annex. And then, you know, 18 months into the process, like, okay, well, we want you to help us get the financing. That'd be the only reason we actually annexed into the city is to help get a what they call a district created to do the financing. And they said, Yeah, yeah, we'll do that, but we're not going to promise we will. It's like, Well, then we're not going to annex to the city. Right, right.   Sam Wilson (00:08:44) - And you guys wanted to be annexed into the city for valuation purposes. Being attached to for.   Paul Thompson (00:08:52) - The financing, the city can help you qualify for financing. Public improvement. Financing.   Sam Wilson (00:08:57) - Right. Right. Which I'm sure is much more favorable terms than maybe what the street rates are.   Paul Thompson (00:09:02) - Yeah, right. Very much. It's a bond, right? So you raise a bond and the people who go and get the benefit of it, pay it back over time.   Sam Wilson (00:09:09) - Right. Very interesting. Okay, man, that's a lot. So you got through entitlement, you said. And so now you're, what, two years in at least? Yep, yep. Two years in, you get the land entitled. And then you came to a fork in the road. You said, Hey, look, I can sell this or we can go vertical with it. And it sounds like it sounds like you love hard things just from.   Paul Thompson (00:09:31) - No, like, actually I'm lazy. Like, why did I sign up for this? But then you look at the the potential profits know like, oh yeah that that adds like a whole nother zero to your profit. And I was like, okay, maybe it's worth it.   Sam Wilson (00:09:44) - Right? Right. Zero zeros are important. So you decided to go vertical. Like what? What was the next I mean, because at this point you're a lot of money in you're a lot of money and you're a lot of time. Yeah. Any any idea how many acres is this project?   Paul Thompson (00:10:00) - The whole thing is 36.   Paul Thompson (00:10:02) - 13 of it will be developed into multifamily and the other 23 will sell as townhomes. And basically we'll sell it, put what they call paper lots, we'll sell it 20, we'll sell the 23 acres to a builder to do the townhomes and the duplexes and whatnot. A build to rent model.   Sam Wilson (00:10:19) - Got it. Got it. Okay, cool. But still, so you got see and even so, you've already gotten all your, like you said, paper lots. I mean, the place is basically drawn up at that point. Right, right, right, right. Forget what I was going to ask you. It was about a oh amount of money that you're in on a project like this. Like what? What would you budget if you were to turn around, do this again? Maybe you already are doing this again. But we.   Paul Thompson (00:10:40) - Are. Um, I mean, you need access to, you know, probably tens of thousands if not hundreds of thousands of dollars to pay for and pay for entitlements.   Paul Thompson (00:10:54) - And the studies and like, it's not uncommon for our earnest money deposit to be like 70 grand. Yeah. So it's not trivial amount of money. This is probably not something that you stumble into as a newbie having no experience, right? Um, yeah. And which is what we were, we were newbies and had no experience, so we made some mistakes along the way. But we were, you know, I'm in my 40s, my business partner is in his late 30s and we have established businesses otherwise. So this is not like the only thing that we're relying on. This is I think of business development and kind of like when you come in investing, single family and existing multifamily are more stable and defined, but then you can have these bigger projects that you kind of go go for gold. And this is what this is. This is a much bigger play, a longer term, and I'm not looking for immediate near-term cash flow. This is like like life changing wealth potential.   Sam Wilson (00:11:47) - Right, Right.   Sam Wilson (00:11:48) - No, absolutely. Clearly, you have the long game, the long game in mind. And I kind of suspected the answer to your, you know, or yeah, I suspected your answer to the question, which was, hey, you know, you could be hundreds of thousands of dollars in on this project by the time you get to entitlements. So we kind of learned plan B of it where you're going to sell that, you know, the other 23 acres off to developer, you guys are going to build the multifamily property on the 13 acres. But you liked it so much that now you're going back and you're doing it all over again.   Paul Thompson (00:12:18) - Yes, we are under contract on other projects and we're negotiating on with the cities to see if they're willing to play ball. And we make a decision right before our earnest money goes hard if the city is willing to to play or not. And we've gone on our contract on multiple occasions where we've had the property under contract, earnest money approaching, going hard, but we can't get up, can't get it back and we have to back out and tell the seller that this is like we explain this on the front end, that this is a risk of this.   Paul Thompson (00:12:52) - And most sellers that own that kind of land are sophisticated enough to kind of get the game enough that they understand. And they and I was still out money because I paid for all kinds of studies. And, you know, sometimes you can be out 30, 50 grand and realize this is not a viable deal.   Sam Wilson (00:13:09) - Wow. Wow. Man, that's tough. That's tough. What is what you talked about the financing side of things. But what is it like underwriting multifamily mean in today's environment? It's an ever changing environment, especially buying land developing. I mean, that's a long a long time time frame. There it is. What's a what's a strategy or how are you kind of offsetting or compensating for some of that unknown that we seem to have right now.   Paul Thompson (00:13:38) - So we take the we pay for market studies, which again, it can be 5 or $6000 and they and they provide like like a 60 page report on what's happening in the marketplace given where you are. And you take they give you a range of what things will rent for, you know, say a three, two or rent for, you know, 1600 to 1800.   Paul Thompson (00:13:57) - So we will run the numbers at 1500. So we kind of round down and we do our valuations based on that. And you determine what your NOI is based on, the number of units you think you're going to get, which again is, you know, this in a given like you think you're going to get 200 units, but you only get 188. So you you do like the 80% number of that and then you do these engineering estimates, which they call an opinion of probable cost. And you and you really got to understand the assumptions that they're making because most of the engineers are trying to do right by you and they make really, really, really conservative numbers and they make it super expensive. So they're so you have to kind of dial that into reality. Which is a whole process to learn. But once you kind of get your costs of what you think it takes. I went to an actual builder and said, What does it cost to build something? And they said, In today's market, it's $135,075 per square foot, so budget for 185.   Paul Thompson (00:14:54) - Okay. So we budget for 185 and then we determine, okay, like what's the going rate, determine the value? Well, we we run the conservative side of the cap rate. So in Dallas, it can be as low as four and a half. Five. We run it a five and a half, five, 5.8.   Sam Wilson (00:15:11) - That's a lot. That's a lot. A lot, A lot of things to consider there. Love. I love the the ambition and the just hey, we're going to go for it and figure it out. But it sounds like it sounds like you've done this, though, strategically. I think that's that's it. Maybe I'm wrong. Does that sound right? I'm going to say.   Paul Thompson (00:15:29) - I did because I can't defend myself in the event that I didn't.   Sam Wilson (00:15:35) - Love it. I love it, man. That's that's really, really cool. One of the other things, though, that it looks like you've done just from going through our show notes and then talking here before we kick this off, was that you've also just focused the side of your business on the capital raising side into other opportunities.   Sam Wilson (00:15:51) - Is that still something you do and if so, why? When you are apparently so busy already on your own deals?   Paul Thompson (00:15:57) - Well, my role in my own deals is that I'm the capital raise and the capital stack guy. So that's that's my angle. So my business partner is more of the finding the deals and analyzing and dealing with it with the the engineers and whatnot. I'm more of the the CFO role, right? So that's, that's where I sit. And whether it's for my own deal that I'm developing or for somebody else's RV park or somebody else's multifamily, I like getting to know investors. I like the marketing side of that because you're dealing with typically very consummate professionals and they're super curious about the business and they're not experiencing it yet. And they asked typically very shrewd questions based on their level of sophistication. They just don't know this business yet. And I enjoy that process of hosting webinars and meeting. I do a lot of Zoom calls with with investors to understand, you know, what they're after and what their goals are.   Paul Thompson (00:16:52) - And like, you know, this may not be a good fit for you, but, you know, down the road there might be something else that is.   Sam Wilson (00:16:56) - Sure. No, that's really, really cool. Anything that you have previously been investing in that you're now just like. Not interested in anymore.   Paul Thompson (00:17:06) - Yeah. So I ran an experiment for a while, though, where I was running with what I call mid term rentals, where I take basically you're focusing on traveling nurses, traveling professionals, and you're using Airbnb to market it. And I still have three units that do this with because I've already put the investment in the process in place, but I don't enjoy that business. That to me is personally exhausting. Like I have just three of those and I spend more time thinking about those than I do the other 40 long term rental units I have in Little Rock.   Sam Wilson (00:17:36) - Wow.   Paul Thompson (00:17:37) - Right. So even though they're only turning over once every 6 to 12 weeks, we have to turn it over every time because someone has lived there oftentimes for months at a time and it needs a major cleaning.   Paul Thompson (00:17:49) - And so after the cleaning, we have to go there and look at it and say, is this good enough? And nine times out of ten, it's not like it needs a little bit more. And so we have to get the cleaner back over there or me and my wife will do the last few minute items. I don't enjoy that part of it. That's not the kind of business I want to be in long term. But it's good to know I ran an experiment and it's a great model if you're that kind of operator. I am not that kind of operator. And so you need to know your pros and cons like, like what are you good at? And that is not what I'm good.   Sam Wilson (00:18:14) - At, right? No, that's really cool. I love I love that. And it's funny how different, different investing styles fit different personalities where it's like, you know what? There's people got a I got a buddy of mine that he loves the mid term rental thing. I mean that's all Yeah.   Sam Wilson (00:18:29) - Is mid term. It's a good business. A good business. Great makes great money. It it at scale and that's his thing. Yeah. You know doing capital raising like what you and I do and then you know getting involved in ground up development would not be his thing. So I think that's what's fun about this business. We all all get to choose. What has it been like for you? What are some systems that you either have implemented that you really liked and or systems you're still working on inside of your business that you're refining?   Paul Thompson (00:18:57) - I have found that I am a high startup, low follow through personality. This is like a real thing. This is like somebody came up with those words before I did, right? Like, this is a thing that people have and I am that person. I love dealmaking. I love deal structuring. I love putting things together, but I don't want to operate the deal. That's not my strength. I'm a visionary, not an operator. Right? So I need an operator.   Paul Thompson (00:19:20) - And for an example of the mid term rentals, I have completely outsourced the management of that to a good friend of mine and she does an amazing job. She gets 15% of all revenues, so she gets paid very well to do that and she does a great job and we still get pulled in occasionally to take care of things. So we're having to train our our cleaner, our local cleaner to look at things the way we would look at things. And so we have created her a checklist. And she's so good that we're afraid to run that by her too much and be too critical because we don't want to run away. Right? So that's something that me and my wife are working on. My wife likes to like fiddle with these things. And to me it is a money in money out box. But she likes to make a nice place to live. I care nothing about that. My wife does. So we have to like marry those two approaches and my wife can think about what the what kind of flowers that we're planting and I can think about, you know, what what the process is, the checklist for the cleaner to make sure that they're cleaning underneath the furniture because people have been there for a long time.   Sam Wilson (00:20:23) - Right, right, right. Yeah. If you have hardwood floors or whatever, you don't you don't want to get on your hands and knees and see nothing but dust.   Paul Thompson (00:20:29) - Right. Which is what happens if we let just the cleaner do what she would normally do because she turns over Airbnbs that are like 2 or 3 day stays. They don't get that dirty. When someone lives there for six months, it gets dirty. It needs a full overhaul. So what her checklist for a midterm is completely different than for a short term?   Sam Wilson (00:20:45) - Yeah, absolutely. Absolutely. Very, very interesting. Paul, I love what you're doing. This is I mean, you got your hands in a lot of different things, everything from long term rentals, mid term rentals, land acquisitions, entitlements, now doing massive development projects, it sounds like. Yeah, it sounds like you stay a fairly busy. This is this has been certainly enlightening to have you here come on the show and just share with us today. I appreciate your time.   Sam Wilson (00:21:10) - If our listeners want to get in touch with you and learn more about you, what is the best way to do that?   Paul Thompson (00:21:14) - The best way to get a hold of me is that my website. Paul David Thompson. Com. I think you'll drop that in the show notes. But it is spelled the way you might expect. I say this a lot, but I have a curse of a common name, so I had to use all three of them to make sure I got my own domain. All David thompson.com.   Sam Wilson (00:21:32) - That's awesome. Paul We share the same middle name. I like it. This is great. Thank you again for coming on the show today. I do appreciate it. Appreciate it. Sam 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.   Sam Wilson (00:21:56) - 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.  

Paul Thompson, Consultant, Fund Manager of One Call Capital and author of the book, ESCAPE: Money Mindset To Freedom With Stocks, Real Estate and Starting Your Own Business, has become a well-known figure in the world of real estate investing. From his own unwavering desire to escape the confines of a traditional 9-5 position and build a thriving entrepreneurial career in real estate to his unyielding determination to achieve financial freedom, Paul shares his personal experiences and invaluable insights to empower others who yearn for a similar path.  Having felt the limitations of a corporate job firsthand, Paul embarked on a mission to unlock the secrets of real estate investing. His extensive knowledge and practical expertise have since made him a sought-after guest on various real estate podcasts, and he has even established his own successful podcast, Ready Investor One, where he imparts the essential mindset and mechanics required for real estate investment success and empowers individuals to achieve personal and financial freedom.  Paul's commitment to helping individuals break free from the shackles of a 9-5 job led him to create the vibrant My Freedom Foundry real estate community. Within this community, he guides and supports aspiring entrepreneurs through the diverse landscape of real estate investment strategies and forging their own paths to financial success and wealth building.   Drawing from his own journey, Paul specializes in assisting busy professionals who yearn to transition out of their traditional 9-5 positions and embark on an entrepreneurial path in real estate.   You can connect with Paul directly on LinkedIn or reach out to him via email (the story behind his email address promises to be an intriguing tale). https://www.linkedin.com/in/paulthompson-wincoreinvest/ toolsoup@gmail.com www.pauldavidthompson.com To learn more, visit:https://billbymel.com/Listen to more episodes on Mission Matters:https://missionmatters.com/author/bill-bymel/

Paul Thompson has been featured in numerous real estate podcasts and hosts his own podcast called Ready Investor One where he teaches the mindset and mechanics of real estate investing. He also manages a real estate mastermind community called MyFreedom Foundry where he helps investors forge their personal and financial freedom. In addition to owning rental property, his current real estate businesses includes a Hard Money Lending business and a newly founded land development company in Texas. He is the # 1 Best-Selling author of ESCAPE: Money Mindset To Freedom With Stocks, Real Estate and Starting Your Own Business Links: Watch this episode on YouTube https://youtu.be/WVzx3oHlxwE Contact the guest here https://www.pauldavidthompson.com Paul's list of preferred Midterm Rental Furnishings https://docs.google.com/spreadsheets/d/1qvllm6bt8-YOY3cQpvPY48ZK-Q__3urXohpmGDd4cuw/edit?usp=sharing Looking to Buy or Sell in Central Oklahoma visit https://www.OklahomaRealEstateShow.com Email Landon Whitt Landon@okcreal.com

Today's episode features real estate expert Paul David Thompson from the Ready Investor One podcast and PaulDavidThompson.com Paul found his proficiency for building teams in the corporate world but knew that he was meant to run his own business. What started as a single investor in Little Rock, Arkansas has now morphed into an enterprise. He walks us through his systems which allow for him to offer over 1,000 offers on homes every week and how he works with others to help them recreate his success. Sit back and listen to this great breakdown of creating a Real Estate Powerhouse! Links From the Episode Paul David Thompson Website Ready Investor One Podcast Join the Community We'd love to hear your comments and questions about this week's episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! Grab our FREE Budget Planner Join our Facebook Group Leave us a voicemail Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please subscribe and leave a rating/review! >> You can do that by clicking here

In 2015, Paul Thompson wanted out. His corporate ofice had become a sufocating cell. Paul decided to start buying rental houses, build passive income and break the chains of Corporate America. He was so successful, he secured 20 deals in his frst 18 months of investing. Since that time he has acquired more than 2 dozen rentals without bank fnancing. Now he teaches others how to raise money from regular people that have some funds to invest. In addition to coaching others and still investing himself, Paul hosts a podcast to educate others. Ready Investor One ofers tips, hacks, insights and more for listeners interested in creating opportunities for passive income. “Level Up Your Life through real estate investing.” Get in touch with Paul: www.pauldavidthompson.com     If you want to know more about Dr. Jason Balara and the Know your Why Podcast: https://linktr.ee/jasonbalara

Real estate investing gives us the opportunity to take control of our money and escape the false security of a traditional job. There are so many avenues we can use to gain freedom through real estate, provided we take that first step.    Many people who dream of becoming real estate investors spend so much time analyzing that first deal that they never take action, missing out on great opportunities in the process.    On the other hand, when they’ve gained some experience, the same investors under-analyze their subsequent deals, leading to short-cuts on due diligence and expensive mistakes. The correct approach is finding balance between taking action, making smart decisions and being cautious.    If we surround ourselves with the right people, borrow money the smart way, and follow a process, we can take decisive action while protecting ourselves.  What are some of the costly mistakes we avoid by taking these steps? How can we approach private lenders for capital for deals? In this episode, I’m joined by real estate investor, consultant and podcaster, Paul David Thompson, as he shares his transition from the corporate world, and the lessons he learned from buying 18 houses in 18 months.    Three Things You’ll Learn In This Episode   Why hiring contractors won’t always be perfect Hiring contractors is the hardest part of this business, and it’s a part of the process we’ll never quite perfect. The good ones are expensive and always start their own flipping operations. Everyone else can be difficult to work with. Instead of trying to perfect hiring contractors, we have to develop a system that allows us to maximize working with each contractor.   How to get money for deals without asking for it We get money for deals, not by asking for it, but by offering a solution to a problem. Private lenders have a financial goal or hurdle, and our deal holds the key to making their lives easier. This is what we have to leverage.   The dangers of borrowing money in our personal capacity Taking out commercial real estate mortgages in our own personal names might seem like a good idea because of seemingly lower interest rates. The problem is the bank can call the loan at any time and freeze our line of credit, leaving us with no money. This is going to happen to many investors in the wake of the pandemic, so be prepared.   Guest Bio-  Paul David Thompson is a real estate investor, consultant, podcaster and president of Wincore Invest. He teaches busy professionals how to escape their day job. He helps his clients design a real estate investment strategy that fits their needs, whether that's taking control of investments, reducing taxes, accelerating debt paydown, or leveling up in their investing game.   For more information and to learn about working with Paul, visit https://www.pauldavidthompson.com and listen to his podcast Ready Investor One on your podcast platform of choice.    Text INVESTOR to 33777 to get Paul’s free guide. 

Episode: 109 Paul Thompson Join David Pere and Alexander Felice with Paul Thompson as they talk about getting out of the rat race through real estate and some cool strategies to reduce your tax burden through self-directed IRAs. Paul is an investor, real estate expert, podcaster and coach. His real estate journey began with a strong desire to leave his day job and have more control over his life. He saw the potential in the real estate space as a way to achieve financial independence. He is now a successful full-time real estate investor who no longer depends on a day job. His podcast show, “Ready Investor One” touches on topics about the mindset and mechanics of investing to help others who also want to become financially independent and gain control of their life. In this episode, Paul generously shares his tried and tested tricks in the business. You don't want to miss this! About Paul David Thompson: My name is Paul David Thompson, and I'm a full-time real estate investor that no longer depends on a day job. I show busy professionals how they can follow a simple plan to build wealth with real estate. Outline of the Episode: [02:28] Getting out of the rat race and gaining more control over your life through real estate investing. [08:07] Why being a wage earner is like a modern version of wage slavery? Be careful not to get trapped! [09:06] What are the three most harmful addictions in the world? [13:02] The difference between a real estate entrepreneur and a classic buy and hold investor. [16:17] Don't go cheap with your contractor! Always choose quality over price. [22:04] Connecting with like-minded people through conferences. [23:47] How to limit your taxes through self-directed IRAs. [26:03] Buying low-end properties, then using somebody else's IRA to take title. [35:19] To get a solo 401k, you have to have earned income somehow with your business. [40:10] Keeping a significant amount of capital in something that you can't mess up. Always have an emergency fund! [45:00] Buying properties at a discount, then making improvements to force appreciation. [47:00] Inbound marketing versus outbound marketing [50:43] Getting good at finding leads and powering through the pandemic. [53:39] Paul Thompson's book recommendations - Advice to an 18-20-year old: Read everything you can get your hands on! - Recommended resource(s): Awareness by Anthony De Mello https://amzn.to/2GQyxQv The Millionaire Fastlane by MJ DeMarco https://amzn.to/35rC16e ABC's of real estate by Ken McAlroy https://amzn.to/35rylBC Building Wealth One Home at a Time by John Schaub https://amzn.to/2Finyil - Resources: Website - https://www.pauldavidthompson.com/ Facebook - https://www.facebook.com/pauldavidthompson180/ Instagram - https://www.instagram.com/pauldavidthompson/ "Awareness" by Anthony DeMello - https://www.demellospirituality.com/book-shop/ “The Millionaire Fastlane” by MJ DeMarco - http://www.themillionairefastlane.com/ "Building Wealth, One House at a Time" by John Schaub- http://www.johnschaub.com/johns-books/ “The ABCs of Real Estate Investing” by Ken McElroy - https://kenmcelroy.com/books/ Follow our journey! Blog - https://www.frommilitarytomillionaire.com/ YouTube - https://www.youtube.com/c/Frommilitarytomillionaire/ Facebook - https://www.facebook.com/groups/1735593999901619/ Instagram - https://www.instagram.com/frommilitarytomillionaire/ - Advice to an 18-20-year old: Read everything you can get your hands on! - Recommended resource(s): Awareness by Anthony De Mello https://amzn.to/2GQyxQv The Millionaire Fastlane by MJ DeMarco https://amzn.to/35rC16e ABC's of real estate by Ken McAlroy https://amzn.to/35rylBC Building Wealth One Home at a Time by John Schaub https://amzn.to/2Finyil - Sponsors: Investor Carrot https://www.frommilitarytomillionaire.com/carrot Audible: https://www.frommilitarytomillionaire.com/audible - 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.

Welcome Back!!! Sorry I am posting this episode on Tuesday instead of Monday this week, but last week my wife had our baby, so it was a long, exciting week!!! In this episode, we interview Paul Thompson and Cody Dover. Paul has been on BiggerPockets, raised hundreds of thousands of dollars, and is currently the host Ready Investor One. Cody is managing tons of deals in Arkansas! He is flipping, wholesaling, wholetailing, and even talks about how he and his business partners are buying an Airbnb right now! If you are interested in the Impact Investing Model we talked about in the show, you can access that on Paul's Podcast! Important links from the show: Paul's Podcast: https://podcasts.apple.com/us/podcast/ready-investor-one/id1343930864 Paul's Bigger Pockets Episode: https://www.biggerpockets.com/blog/biggerpockets-podcast-283-18-houses-in-the-first-18-months-with-paul-thompson Paul's Website: https://www.pauldavidthompson.com/ Little Rock Property Buyers: https://propertybuyersar.com/ DM CODY if You Have Questions: https://www.instagram.com/cody.dover/ Paul's Offer: If you want the free guide from Paul on how to make offers you can text the word “Investor” to 33777. --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/austin-glanzer/support

Are you following a default life plan? Growing up, many of us believed that true success came from degrees, a corporate job, buying a house, and working the 9-5 until retirement. You can choose this path and you might find fulfillment. Or you lead a life by your design, filled with passion, success, achievement, and true freedom. Paul Thompson followed the default life plan of going to school and working in a corporate job. He had money and a loving family, he was living a comfortable life. What Paul didn’t have was time, fulfillment, and true freedom, but he kept working due to fear and uncertainty. Paul finally realized that he wasn't creating his own dream, he was creating someone else's dream. Paul began buying cash flowing rental properties. He built a business of buying property at deep discounts and creating residual streams of income so he didn't have to rely on clocking into a job. Paul swore that he wouldn't live a default life anymore, and began to lead a life by design. Today, Paul is a real estate investor, entrepreneur, loving husband and father, mentor, and host of the Ready Investor One podcast. On this episode of the #IAmMovement podcast, Paul and I discuss how he transitioned from creating someone else's success to creating his own, how he achieves fulfillment by helping and teaching others, and why the one percent rule is extremely important when buying real estate.

Are you following a default life plan? Growing up, many of us believed that true success came from degrees, a corporate job, buying a house, and working the 9-5 until retirement. You can choose this path and you might find fulfillment. Or you lead a life by your design, filled with passion, success, achievement, and true freedom. Paul Thompson followed the default life plan of going to school and working in a corporate job. He had money and a loving family, he was living a comfortable life. What Paul didn’t have was time, fulfillment, and true freedom, but he kept working due to fear and uncertainty. Paul finally realized that he wasn't creating his own dream, he was creating someone else's dream.  Paul began buying cash flowing rental properties. He built a business of buying property at deep discounts and creating residual streams of income so he didn't have to rely on clocking into a job. Paul swore that he wouldn't live a default life anymore, and began to lead a life by design. Today, Paul is a real estate investor, entrepreneur, loving husband and father, mentor, and host of the Ready Investor One podcast. On this episode of the #IAmMovement podcast, Paul and I discuss how he transitioned from creating someone else's success to creating his own, how he achieves fulfillment by helping and teaching others, and why the one percent rule is extremely important when buying real estate.

In 2015, Paul Thompson wanted out. His corporate office had become a suffocating cell. Paul decided to start buying rental houses, build passive income and break the chains of Corporate America. He was so successful, he secured 20 deals in his first 18 months of investing. Since that time he has acquired more than 2 dozen rentals without bank financing. Now he teaches others how to raise money from regular people that have some funds to invest. In addition to coaching others and still investing himself, Paul hosts a podcast to educate others. Ready Investor One offers tips, hacks, insights and more for listeners interested in creating opportunities for passive income. “Level Up Your Life through real estate investing.”   Podcast Highlights Who is Paul Thompson? Paul was a normal average person working in corporate America trying to climb the corporate ladder. Eventually he realized that the ladder he was climbing was against the wrong wall and needed to find a way out. He started looking for way to replace his income and considered a lot of opportunities including a new job and buying a franchise, but he decided to go down the path of real estate investing. He purchased 18 properties in the first 18 months, but took the process one step at the time. Real estate investing can be uncertain but it can be done with less risk than starting a business. Neural science has proven that to make any lasting change, you have to have one of three things: you have some sort of an epiphany, you change your environment, or you take baby steps. For most people they need the epiphany which is what happened with Paul. He realized that the freedom to choose what he does with his time was what he really wanted and had to do something to make that a reality. Teaching Children Kids do what they see, not what they hear. Paul wants to be an example for his children and for them to remember the time he spent with them. Kids don’t really care about what you’re doing for income, they care about how much time you spend with them. Real Estate Investing Day One Paul was actually laid off from his job which is usually quite a rough event in someone’s life, but for Paul it was the fourth happiest day of his life after his wedding and his kids birthdays. He had already been planning for the day when he would put in his resignation so he was quite ready by that time. One of the very first influencers that Paul had found was J Massey and one of the things that J talks about a lot was private money, so that’s what Paul focused on at first. He met a local wholesaler and a private money lender and managed to put a deal together that made sense for everyone involved. As Paul has expanded and gotten more savvy his criteria has gotten more strict but finding the right kinds of properties has actually gotten easier. New Ways Of Thinking Paul has codified his mindset around money. Most of the things that we’re taught about money is wrong. You’re taught to be an order taker and to finance all your consumer activities. We hear the cliche all the time that time is money, but only people who are not entrepreneurs think that way. You have to switch your mindset and recognize that the money isn’t in the time, you use your time to set up systems that scale and separating your time from your money. When people ask Paul how he makes money he tells them he doesn’t make money, his money makes him money. Paul has found his zone of genius is in taking information and breaking it into smaller pieces that allow other people to make transformations in their lives. Ready Investor One Real estate investing is a game and Paul teaches listeners how to take the individual approach and how to

In 2015, Paul Thompson wanted out. His corporate office had become asuffocating cell. Paul decided to start buying rental houses, build passive incomeand break the chains of Corporate America. He was so successful, he secured 20deals in his first 18 months of investing.Since that time he has acquired more than 2 dozen rentals without bankfinancing. Now he teaches others how to raise money from regular people thathave some funds to invest.In addition to coaching others and still investing himself, Paul hosts a podcastto educate others. Ready Investor One offers tips, hacks, insights and more forlisteners interested in creating opportunities for passive income. In this interview, Paul and RJ break down the importance of mindset, buying properties subject to the existing mortgage and owner financing.

In 2015, Paul Thompson wanted out. His corporate office had become a suffocating cell. Paul decided to start buying rental houses, build passive income and break the chains of Corporate America. He was so successful, he secured 20 deals in his first 18 months of investing. Since that time he has acquired more than 2 dozen rentals without bank financing. Now he teaches others how to raise money from regular people that have some funds to invest. In addition to coaching others and still investing himself, Paul hosts a podcast to educate others. Ready Investor One offers tips, hacks, insights and more for listeners interested in creating opportunities for passive income. “Level Up Your Life through real estate investing.” Key Points Having a job is like being dirty – no shame, but don’t wallow in it! Start with something you understand (single family, flips, apartments, land, etc.) Being a deal maker, not a real estate investor Invest in yourself, then your network, and finally in assets Lie every day – Learn, Invest, and Enrich someone else’s life Lightning Questions What was your biggest hurdle getting started in real estate investing, and how did you overcome it? Paul had to first overcome his fear of failure. To overcome that fear, Paul figured our what that exact next step was. Do you have a personal habit that contributes to your success? Paul is always learning, and putting knowledge into his mind. Do you have an online resource that you find valuable? https://www.youtube.com/ (Youtube.com) What book would you recommend to the listeners and why? https://amzn.to/2DR15FC (Rich Dad Poor Dad) by Robert Kiyosaki https://amzn.to/2SCo2Ve (The Big Leap) by William Danko If you were to give advice to your 20 year old self to get started in real estate investing, what would it be? Don’t goof around, but do something with the internet and information age. Resources Visit http://m/gp/product/B00NB86OYE/ref=as_li_tl?ie=UTF8&tag=jacob0ee-20&camp=1789&creative=9325&linkCode=as2&creativeASIN=B00NB86OYE&linkId=100a9d2905599266aa7088bba0a33d55 (Audible) for a free trail and free audio book download! Learn more about Paul https://www.pauldavidthompson.com/ (here) Find Paul’s special offer to you at https://www.pauldavidthompson.com/jacob/ (www.PaulDavidThompson.com/Jacob/) https://www.pauldavidthompson.com/ (Ready Investor One podcast)

In 2015, Paul Thompson wanted out. His corporate office had become a suffocating cell. Paul decided to start buying rental houses, build passive income and break the chains of Corporate America. He was so successful, he secured 20 deals in his first 18 months of investing. Since that time he has acquired more than 2 dozen rentals without bank financing. Now he teaches others how to raise money from regular people that have some funds to invest. In addition to coaching others and still investing himself, Paul hosts a podcast to educate others. Ready Investor One offers tips, hacks, insights and more for listeners interested in creating opportunities for passive income. “Level Up Your Life through real estate investing.”   Podcast Highlights Who is Paul Thompson? Paul was a normal average person working in corporate America trying to climb the corporate ladder. Eventually he realized that the ladder he was climbing was against the wrong wall and needed to find a way out. He started looking for way to replace his income and considered a lot of opportunities including a new job and buying a franchise, but he decided to go down the path of real estate investing. He purchased 18 properties in the first 18 months, but took the process one step at the time. Real estate investing can be uncertain but it can be done with less risk than starting a business. Neural science has proven that to make any lasting change, you have to have one of three things: you have some sort of an epiphany, you change your environment, or you take baby steps. For most people they need the epiphany which is what happened with Paul. He realized that the freedom to choose what he does with his time was what he really wanted and had to do something to make that a reality. Teaching Children Kids do what they see, not what they hear. Paul wants to be an example for his children and for them to remember the time he spent with them. Kids don’t really care about what you’re doing for income, they care about how much time you spend with them. Real Estate Investing Day One Paul was actually laid off from his job which is usually quite a rough event in someone’s life, but for Paul it was the fourth happiest day of his life after his wedding and his kids birthdays. He had already been planning for the day when he would put in his resignation so he was quite ready by that time. One of the very first influencers that Paul had found was J Massey and one of the things that J talks about a lot was private money, so that’s what Paul focused on at first. He met a local wholesaler and a private money lender and managed to put a deal together that made sense for everyone involved. As Paul has expanded and gotten more savvy his criteria has gotten more strict but finding the right kinds of properties has actually gotten easier. New Ways Of Thinking Paul has codified his mindset around money. Most of the things that we’re taught about money is wrong. You’re taught to be an order taker and to finance all your consumer activities. We hear the cliche all the time that time is money, but only people who are not entrepreneurs think that way. You have to switch your mindset and recognize that the money isn’t in the time, you use your time to set up systems that scale and separating your time from your money. When people ask Paul how he makes money he tells them he doesn’t make money, his money makes him money. Paul has found his zone of genius is in taking information and breaking it into smaller pieces that allow other people to make transformations in their lives. Ready Investor One Real estate investing is a game and Paul teaches listeners how to take the individual approach and how to

In today's episode, Cody and Justin bring you an interview that is guaranteed to be a new one for you. This is the story of Jimmy Ridenhour who, unlike most of our guests, has no blog, book, podcast or ever been on a podcast. That doesn't mean his story isn't remarkable. Jimmy's story starts out with a very tragic start that involves murder and family turmoil but he amazingly finds his way to success and has an unmatched amount of positive vibes when you meet him in person. After that tragic start, Jimmy landed on his feet literally as a mailman at age 18. While most people his age were racking up college debt, he was bringing in upwards of $80k a year while he put in 70+ hour weeks. This allowed him to purchase his first home for $125k and have it paid off at age 23. Now he's 27 with five properties and already has an income stream that would allow him to be financially independent if he wanted. This is a can't-miss episode! Episode Summary Jimmy was born in the outskirts of NYC Migrates to Arkansas around 3 years old His father gets murdered while going to sell his car Life becomes chaos as his mother struggles with depression and substance abuse Splits time between his mom & grandparents until 12 then moves to grandparents full time He started learning work ethic and business from the new family he was living with From age 12 to 16 he saved $5k from small-town jobs He decides to follow in his Aunt's footsteps in working at the Post Office to hopefully have her normal life vs his chaotic one He creates a postal profile at age 16 in hopes of one day becoming a postman Then his grandmother passed away and his grandfather developed Alzheimer's At 18 he's eligible to take the postal exam & scores high enough to get hired right away He starts working 70+ hours a week At age 20 he buys his first house for $125k which he paid off at 23 through high savings rates and house hacking via a roommate Saving $80k in those three years while making a range of $50-80k per year He talks about shaking the scarcity mentality but also keeping his very low budget lifestyle He's currently making 55k per year His boss sold him his second house for $50k and which he puts $13k in for fixes Gets deeper into BiggerPockets and starts crushing podcasts while delivering mail for work Finds his 3rd home through a family member for $30k and knocked out all the fixes himself Finds his 4th home for $40k which appraised for $65k that only needed a quick paint job He discovers Paul Thompson from Ready Investor One and got involved in his first Wholesale purchase for $47k, invested $20k, sold it three months later and profited $18k even though he contracted out 90% of the work He highly recommends doing all the work yourself in the beginning so you can negotiate better with contractors and protect yourself from getting taken advantage of. His plan is to end up with 12 rental properties total His expenses are currently so low (~$1300/mo) that he's already financially independent with the 5 houses he has He's currently cash flowing over $2k per month through his rentals at age 27 Recommends using Mr. Landlords how to find a good tenant scoresheet when filtering out tenants He manages all but one property and is now experimenting with the one property manager to hopefully someday step away and allow all his properties to be managed His #1 tip is to just get started because you'll learn so much from the first house And trust me you won't want to miss this week's wildcard question about the most insane date Jimmy has ever been on! Key Takeaways Your past can't define you. Jimmy had an incredibly rough start and is still somehow so far ahead of almost anyone I know. This financial independence journey isn't reserved for kids with parents who taught them the value of money at a young age or who paid for their college.

The first portion of this podcast is feedback from last week's episode: The Low-Hanging Fruits of FI. Anonymous talks about Project FI and tells us about calling to get cell phone data reports. Cody's mom asks us to clarify how WiFi works. Luke from Forming the Life talks about the power of automation. Jeremy corrects Cody about AskTrim and mentions Truebill. Mike weighs in about Sling TV for watching football. Emily tells us about saving money on groceries with Checkout 51. Camp FI South The second portion of this episode was recorded LIVE from Camp FI South! Whitney Hansen of Money Nerds, Paul Thompson of Ready Investor One, TJ and I all asked the attendees to share their #1 takeaway from Camp FI. Enjoy! Doc G – “Knowing that you have a group of people to support you at a hard time in life, who come to the world with the same worldview is really magical” “Content creators tend to shout at the world, but there a lot of people out there who are whispering and if you listen closely you can learn a lot.” Contact him at Diversefi.com! James Lowery – “You don't need as much… it seems like it takes a long time to see any progress, but then once you notice the progress it's already taken off at that point” Contact him at RethinkTheRatRace.com! Ruth Bresnahan – “Personal growth is the most important thing. If you're not experiencing personal growth, then your quality of life will go down no matter where you are in the journey” Justin Taylor – “Stop being so focused on this large nest egg number…giving me that confidence to step away and make it all work out” Contact him at Saving-Sherpa.com! Captain DIY – “Remove the idea of the nest egg number and take away the money aspect. Learn to enjoy the journey… The FI journey itself is such a growth experience” Contact him at DIY2FI.com! Doug Nordman – “I did not expect the level of interest in raising a money-smart kid… I've learned as a blogger that when you get the same questions over and over again you probably should write about it” Contact him at The-Military-Guide.com! Stephen Baughier – “I appreciate you guys coming this weekend, and all of the other people who are listening who have come to a Camp FI previously this year, I appreciate you for being a part of this and hopefully we'll have a successful 2019 and make more connections.” Contact him at CampFI.org! Join the Community We'd love to hear your comments and questions about this week's episode. Here are some of the best ways to stay in touch and get involved in the FIRE Below Zero community! Join our Facebook Group Sign up for our newsletter Leave us a voicemail Links from the Episode Camp FI ______ Project FI Unreal Mobile Ask Trim Truebill Sling TV Project FI Ready Investor One Money Nerds Forming The Life Diversefi Rethink The Rat Race Saving Sherpa Diy2fi The Military Guide Fly to FI (Cody's Blog) Half Life Theory (TJ's blog)

In this Episode David talks with Paul Thompson out of Little Rock Arkansas.  Paul is the host of the podcast “Ready Investor One” and also runs a mastermind called “Level Up Your Life Mastermind”.  David and Paul talk about how there are so many ways of purchasing Real Estate Creatively as well as how they are TONS of ways of selling Real Estate… also, Creatively.   

In this Episode David talks with Paul Thompson out of Little Rock Arkansas.  Paul is the host of the podcast "Ready Investor One" and also runs a mastermind called "Level Up Your Life Mastermind".  David and Paul talk about how there are so many ways of purchasing Real Estate Creatively as well as how they […]

Jamie sits down with Paul David Thompson, the host of "Ready Investor One".

This show is all about the mindset and mechanics of how to achieve financial independence through investing and will focus primarily on real estate. Today we're going to set the stage and talk mindset. I want to help you make a switch in mindset from thinking about exchanging your time for money to investing your money for time If your job or business stopped paying you... would you still do it? Or maybe let's make it a little more interesting. If you had all of your basic expenses met what would you do with your time? Would you still work the same job? This really drives at the fundamental question of "What is it you want out of your life?.... What do you really want to do with your time? The Top Five Regrets of the Dying: A Life Transformed by the Dearly Departed by Bonnie Ware I wish I'd had the courage to live a life true to myself, not the life others expected of me. I wish I hadn't worked so much. I wish I'd had the courage to express my feelings. I wish I had stayed in touch with my friends. I wish that I had let myself be happier. The first step is to start investing in the most important asset in your life. Warren Buffet says "Ultimately, there's one investment that supersedes all others: Invest in yourself" That's right, it's you. I call it "Investor one." which is why this podcast is called "Ready Investor One". You are the most important asset in your life. "You can have everything in life you want if you will just help other people get what they want." - Zig Ziglar Once you make that switch your life will never be the same. Believe that you need to invest in yourself. You can be wildly successful. The secret is you need to change who you are. You will transform yourself into someone worthy and capable of being successful. Ready Investor One Credo You're invited to meet your future. You can prepare to meet your future ready to play Or be caught blindsided unprepared to play the game. investor one: the choice is yours You are in control. You are the hero.