Podcast: Play in new window | Download (Duration: 23:05 — 31.7MB)
Subscribe: Apple Podcasts | Android | Email | Google Play | Stitcher | TuneIn | RSS | More
Where I live, $40,000 doesn't even come close to a down payment. But Clayton Morris learned early in his career that real estate investing doesn't require millions of dollars, or even six figures. Clayton found that there are many parts of the country where $40,000 is enough to buy a home in cash. After a small investment, it can turn into a cash flow machine! Learn more in this week's episode.
What We’re Chatting About This Week
This week we start off by learning how Clayton Morris, a Fox News anchor, started in property investing. Like most business founders, his start was a humble one when he purchased a condo in his old building that had belonged to a smoker and was completely dated. He got his hands dirty and did much of the work himself to fix up the unit and sell for a fix-and-flip profit.
But he later learned that fix and flips are like a job while buy and hold is an investment. Properties in some areas of the country go for as little as $40,000 and can easily turn out a $800 cash flow. That's profit you can keep or reinvest. It's easy to see how this can scale. For the cost of a $400,000 home, you could bring in $8000 per month. To match my $10,000 monthly income goal, I would need 13 of these properties.
It is unlikely I would start buying 13 properties off the bat, but buying one investment property at that low cost is very viable. Who knows what the future could hold?
This Week’s Sponsor
This week features Personal Capital, which I have personally used since October 2012. Shortly after signing up, I looked at my portfolio and investment fees in the free portfolio analyzer and found I was overpaying on my fees! I made a few changes based on what I learned in my Personal Capital dashboard to save $300 per year. So far, that is worth nearly $1,500 not including investment gains. Did I mention it's free? Give it a try today.
This Week’s Guest
Clayton Morris is the news anchor on America's number one morning show FOX & Friends on The FOX news channel. He's also a real estate investor and the president of Morris Invest, helping people build passive income and true legacy wealth. Clayton is also the host of Investing in Real Estate podcast, which has a laser focus on buy and hold rental properties. The podcast utilizes expert interviews, case studies with normal everyday investors, and Clayton's own methods for achieving passive income.
- Morris Invest
- Morris Invest Facebook
- Morris Invest YouTube
- Investing and Real Estate Podcast with Clayton Morris
- Freedom Checklist
Other Resources Mentioned
Get the FREE Personal Profitability Playbook
Earn more, spend thoughtfully, grow your wealth, and live a better life through mindful personal finance.
Real estate, my favorite topic. Will definitely listen to this on my drive somewhere this weekend. Just sold my largest property in SF this summer. I had to get rid of it to simplify life!
I’d love to reinvest the proceeds into 100% passive income sources.
Sam
Are you looking outside of the Bay Area to reinvest, or trying to stay local?
Very interesting!!
It is always a pleasure to hear how somebody has created a business from nothing
And 40.000 USD is a doable amount.
Thanks for the inspiration:-)
It’s exciting stuff!