3. Finding just the right amount of debt, the impact of COVID-19, and the power of BRRRR | Chris, half of The Stealth Rich

Grab your pen and paper, because I talk for over an hour to Chris, one of the two awesome guys behind The Stealthy Rich.  They have changed how I run my numbers (price to rent ratio as my 1% rule number) and the type of loans we use, which enabled us to buy house #4 (portfolio loans!).  They both have full-time jobs with a heard of kids ( 7 combined).  Besides keeping no personal debt, we all agree that the second most important ingredient to our success "secret sauce" is a work from home job.  These two have been making working from home, no-contact showings, and mailing handwritten letters like your grandma cool since before COVID.

My FAV highlights: 

• Even the seasoned wrestle with how much debt and the ideal mortgage length
• To make money in real estate, you have to break free of that boat anchor called personal debt.
• The favorite way Chris & Dave find houses to buy with crazy Yellow Letter campaigns 
• Their boring (I say brilliant) “rinse and repeat” method of remodeling.
• The benefits of keeping cash on hand, because VTSAX & Chill is GREAT, but you need to be ready for emergencies.
• The best wear layers when buying LVP floors. (In case you are wondering, since this interview, I HAVE learned that you can, in fact, find LVP with a 20 mil wear layer or more, for under $2/sq foot).
• "Refi till you die” is overrated.

LEARN MORE: 

But Dave Ramsey says debt is dumb even in real estate

BURRR method

Cash on Cash Returns

Portfolio Loans

Jerry Puckett & their exact yellow letters

The Mad Fientist & the 4% rule

MMM on emergency funds here & here (and why I hate it here)

My take on mortgage forbearance programs 

Property managers 

1% rule & why it matters

Rent to Price Ratio with The Stealth Rich

Rent analysis with Rentometer