On this episode of The Most Dwanderful Real Estate Podcast Ever, Dwan talks about how to pay off your rentals. Contrary to what a lot of other real estate investors do and tell others to do, you should pay off your rentals before paying off your own assets. When you close your first deal, go ahead and quit your full-time job and use the profits from that deal to pay yourself a weekly salary to be a full-time real estate investor. Then when you close your next deal, you can give yourself a raise and/or save up until you can pay cash for another rental property. Once you have 3 rentals paid for and you’re on the way to the Power of 13, then you can start paying off your own assets.
Dwan and Bill just welcomed a new grandbaby and kept little Benjamin’s older sisters for 9 days at their house, so they are still recovering. This August also marks 30 years since Dwan’s life was turned upside-down and she began her life as a single mother trying to find her way. Dwan also shares on this episode about her recent health issues and the continuing journey to find out what is going on. She would appreciate your prayers, and of course she will keep her loyal listeners posted as she starts to get some answers.
If you haven’t heard, Dwan has dropped the fee to join the Dwanderful.com Membership Site, so now you have access to the document library, pop-up training calls, and the chat box for FREE!
Time Stamped Show Notes
- 1:37 – Dwan has decided to fully embrace the crazy and make her hair different shades of purple.
- 5:13 – There won’t be any alcoholic drinks with Dwan for a few more weeks. She has been really sick the past couple of months and is still getting tests done to determine the cause, so she is just sticking to her live enzymes for a while.
- 9:13 – Dwan and Bill’s son and his wife just had their third baby, so Dwan just finished watching their 3 and 4-year-old girls for 9 days.
- 13:24 – The doctor has Dwan on a low dosage of steroids to help reduce some of the inflammation she is experiencing, which is making her very irritable and emotional. She asks for listeners to pray for her as she continues testing to figure out what is going on to make her feel so sick.
- 17:03 – It was 30 years ago this month that Dwan’s life was turned upside down.
- 19:11 – Hopefully in future episodes, Dwan will be experimenting more with wine.
- 20:31 – This is also at least the 20th year that Dwan has been teaching.
- 22:55 – Dwan talks about how to pay off your rentals by paying yourself a salary. Before paying your own assets off, you should focus on paying cash for rentals or paying them off.
- 27:39 – Dwan is an active member of the Women in Wholesaling Facebook group, and she encourages members of that group and her podcast listeners to just get out there and make it happen.
- 30:19 – Dwan has made all of the mistakes in this industry so you don’t have to.
- 32:15 – If you haven’t signed up for the Dwanderful.com site (which is now FREE), you are missing out on the document library, chat box, and pop-up live training calls. Your assignment is to download the rental agreement and look up the relevant codes for your state and to download the lingo document if you haven’t already.
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