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Here’s what we’re saying today on the episode. Is it possible to me be a millionaire in real estate? Yes. Is it easier to get there than Noble City thing else? Sure. But does being a real estate millionaire mean what you think it means? Probably not. Especially if most of your definition of that has come from social media or YouTube videos or Instagram or coaches and mentors or people who tell you how successful they are.

What would your life look like if you could replace all of your working? With simple and conservative investments that could do it for you. Over the last 13 years, we’ve helped thousands of clients transact over half a billion dollars in simple and conservative real estate transactions, allowing them to begin replacing their work income with real estate investment income.

Each week, we’ll be pulling back the curtain on the ins and outs of real time retirement based real estate transac. That will transform your financial future even if you have no real estate experience. This is replace your income with me, Kevin Clayson and Steve Earl. All right, well, hello everybody and welcome to Replace Your Income with Kevin and Steve.

Steve. What’s up man? I’m doing great. Ke. How’s it going today? Dude, I am fantastic. I wish we were in the office together doing the podcast, but at least I can still see you over video. Yeah, it’s great. It’s like a Chinese movie. Your lips are moving and the words are like three or four, you know, seconds behind.

It’s pretty cool. . That is pretty cool. That sounds really great. Uh, well, hey, I’m super excited for this episode. So yesterday Steve and I, we were talking and we had seen all of these articles. I’ve, like, recently I’ve seen podcasts and articles and YouTube videos, and they’re all using the same word, Steve, and what’s that word that we keep seeing floating around?

Millionaire, Millionaire. And it’s not like who wants to be a millionaire? It’s not that. It’s the, all of these real estate blogs and these real estate companies and podcasts and YouTube channels are always about how do you become a real estate millionaire? And by the way, if you’re listening, Family and friends out there.

Do you wanna know why you see stuff that says how to be a real estate millionaire? It’s cuz they know you’re gonna click, which is why we did this episode cuz we knew you’d click, but then we knew that when we had you here, we could have a real conversation about what it means to become a real estate millionaire.

Is it possible? And frankly does it matter? And that’s the discussion we wanna have today, Kevin, I think. I need, I need to make sure that you put like a red fast Ferrari or a Lamborghini, uh, with somebody sitting on the hood, big, big mansion in the background and holding like gazillion dollar bills and that kind of a thing.

Like that’s what it’s all about, dude. That’s what it’s all about. If we can become that, we know we’ve made it right. That’s how you know if you can sit in some sort of a convertible and hold a large stack of $1 bills, you know you’ve made it. And the reason why we joke about that is we know people like this.

You guys, there are people and it’s actually a lot of the real estate gurus that are like, look at the millions that we have. So two examples, just real quick because we just gotta. You know. Okay. Just so everybody knows out there, here’s what we’re gonna talk about today. We’re gonna talk about how you can actually become a real estate millionaire, the different ways that you could define being a real estate millionaire, and then we’re gonna really double down on does it matter if you’re a real estate millionaire or not?

And that’s what we’re gonna talk about. But here, straight up, let me tell everybody here. It is possible to become a millionaire, and it’s probably a quicker path with real estate than anything else. But then you have to pause and you have to ask the question, what does that mean? And what Steve is alluding to and what I’m talking about is we know a bunch of people out there, gurus, YouTube personalities, Instagram people, whatever, and they show you all of the money and they show you the life that they think you want to live.

And they say, This is how you become a millionaire, to be like me. But two quick. So one of these guys I happen to know personally had this, it was like a Instagram post or maybe it was a, the picture on the front of a YouTube video and, and he’s sitting in a convertible and he’s holding a fat stack of dollar bills.

Okay. It wasn’t a hundred dollar bills, it was dollar bills. And if you zoom closer, I don’t even know if they were all dollar bills or if he like got a bunch of paper and threw some dollar bills on either side of the paper and said, Look at the money that I make. That’s number one. Number two, I know another guy who used to go on stage and would tell you about how much money you could make and how much you could earn, and he would do this thing where he would literally bring tens of thousands of dollars.

Of of money on stage and let you play in it and let you be around it. But the funny thing was it wasn’t even his money. He borrowed it from somebody else so that the liquid cash could be on the stage so that you could feel like, Look, I wanna be a millionaire like that. And so here’s what we’re saying today on the episode.

Is it possible to me be a millionaire in real estate? Yes. Is it easier to get there than almost city anything else? Sure. But does real being a real estate millionaire mean what you think it means? Probably not, especially if most of your definition of that has come from social media or YouTube videos or Instagram or coaches and mentors or people who tell you how successful they are.

Right, Steve? Well, I tell you what, Kim, you’re hundred percent right and in, at the end of the day, like, we’re not here to like, to, to necessarily make fun of, of the fact that you can become a millionaire in real estate because you absolutely can. And in fact, if you do mil uh, real estate the right way. You will become a millionaire.

Like a million in real estate. Isn’t that huge? Quite frankly. Exactly. And so you absolutely there, but like you said, Kevin, it’s not the, that other people put in your mind about what real is for you in terms of all of the kind and that kind of a thing. We, we just have a much different, uh, perspective about real estate and what it can do for you.

Is it going to make you, we. It very well can, and it also can crush you if it’s not done properly. But if you do it right, you absolutely over, over, over time, you’ll become a multimillionaire. Yes, exactly. And here, and this is what I really wanna talk about, like how should one define being a millionaire when you look at real estate, Because there’s a variety of ways that you can define millionaire, right?

I don’t know about you, Steve. The first thing that comes to my mind, Is, I think most people think that being a real estate millionaire, maybe. And, and by the way, here’s, here’s what I want you guys to do. If you’re listening right now, I want you to ask yourself that question. Take a moment, pause the podcast.

If you need to have a brief moment of self-reflection and say, when you, and, and ask yourself this question, when you hear people talking about being real estate millionaires or having millions of dollars, In real estate or whatever. How do you define that? Like you see it, you take it in, you assume that it’s true.

That’s what a lot of us do. But have you ever actually sat back and said, What does that mean to that person? And that’s the key when somebody says, You could be a millionaire in real estate. How are they defining that? Because there’s a variety of ways to define it. How do you think you would define it if you’re listening, if I say, Do you wanna be a real estate millionaire?

How would you define it? And see, let’s talk about a couple ways that one could define being a real estate millionaire, and then let’s give little pathways of what one would have to do to achieve that definition. So what’s the first kind of definition of being a real estate millionaire that you can think.

Yeah. So in my mind one of the, the most common ways to define it is, you know, how much equity do you have in your properties? So if you own, let’s say that you own five real estate investments, maybe even including your, you know, your personal residents for that matter. Uh, which, which by the way, the government does not include your personal resident when they’re defining, you know, an accredited investor, uh, where you’ve gotta have at least a million dollars of net.

They don’t include your personal residence, but I think that I, personally, I think that you can, because you know, for most people their personal residence is their, their largest real estate investment, uh, for that matter, their largest investment of any of any sort. So, um, I feel like it is a, it’s a true asset.

So if you own 3, 4, 5 pieces of real estate, and let’s say that you have loans on them in excess of a million dollars, does that mean, do those loans make you a millionaire? Like personally? I don’t think so. I think it’s the equity that you have in those proper. That over time as you pay down those loans and as, as the value of those properties increase, uh, certainly that counts towards being a millionaire.

And by virtue of the fact that you have, call it a million dollars in equity in properties. Doesn’t necessarily mean that you’re rolling in the dough, right? , you’re flashing the bills and driving the fancy car because what does that million dollars of free and of, of free and clear real estate really mean in terms of what we always talk about, Kevin, which is cash flow.

Because cash flow at the end of the day is what you get to spend. Yes. Um, you don’t necessarily get to, you know, you can’t spend the equity in your property unless you, you know, you pull out a loan on it or you sell that property. And if you pull a, you know, a loan out on it, well now the equity’s gone in that property.

You’ve got it in the form cash, which could count towards you calling yourself, you know, a, a millionaire. Right? Sure. So, so those are, you know, a few things that, that, you know, you need to look at in terms of the reality of, of. Being a, you know, a millionaire real estate investor, actually. Well, and so, and this is what’s interesting, um, I think that some people would even define it not as the equity, but they would define it by the amount of real estate that they own, even if it has, um, even if it has mortgages on it, right?

So, so look, somebody may tell you they’re real estate millionaire and they may put it out there, but let’s say that they own it cuz this would not be that hard to achieve that this was one’s definition, right? Look, you could own. Four or five properties in fairly conservative markets or like two properties in coastal markets.

And even if you have a loan that you’re servicing on those properties, you could say, Hey, I own, quote unquote, I own a million dollars of real estate. Right? Will you own the debt that’s helping to fund that real estate? But technically, your name is on the title. There’s a lean. The real estate, but your name is on the, on the title of a million or more dollars of real estate.

So somebody might define it that way. So again, ask yourself, when you’ve thought about, I wanna be a real estate millionaire, or I know real estate millionaires, or I aspire to be one, one day, what is that definition? Is it. That. Okay. Per, and by the way, this is, this is really important. W when I did that one solo episode, Steve, right before the election where I, I compared and contrasted like Trump housing policies and Biden housing policies, and one of the things we talked about was the 10 31 exchange.

And we talked about the fact that, and I can’t remember what it is that’s not fresh right now, but. The Now, the incoming Biden administration has talked in the past about eliminating the 10 31 exchange. For those listeners that are listening, if you don’t know what a 10 31 exchange is, we’ve touched on it briefly.

It’s a part of the tax code that allows you to roll proceeds from the sale of one property into the purchase of another one or two properties so that you don’t have to pay capital gains taxes on it. But when they were defining who they would eliminate the 10 31 exchange for. It was for people with the net worth in excess of X, Y, Z, and I don’t remember what that was, but the way they were defining that number was the amount of real estate you own.

They weren’t talking about the debt that you’re servicing or the equity in the property, right? So they were saying, Okay, well if you’re wealthy, if you are a millionaire and you own, I don’t remember, let’s use the number cuz I don’t remember what. You own a million dollars in real estate. The way their policy was classifying that, as in terms of how I read it, was if you own a piece of property or multiple pieces of property that in accumulation, if you were to sell them today, regardless of how much of that is debt versus how much of that would be income to you, if you have your name on properties that exceed a million dollars, you’re technically a millionaire and therefore you would not qualify under the 10 31 exchange rules.

So again, Even we have the government that’s gonna classify this concept of, of what’s a millionaire as not real dollars in the bank, but as just real estate that you own, that your name is on. And then Steve gave you another definition, which is equity in the property. I own a property that’s worth two 50, my loan is a hundred thousand on it.

I’ve got $150,000 of net worth. So then I might need eight properties to be a millionaire if I just look at what I actually own that isn’t debt, right? And if that’s what I’m gonna utilize, whether that’s my primary residence or not, if I’m just looking at equity and maybe assets in the bank, there’s another way someone could classify or qualify themselves as a millionaire.

So again, we’re not saying. What the right definition is. We’re saying this is the way people look at it and this is what you have to be careful of when you’re considering these ideas. Right? Yeah, exactly, Kevin. I mean, the way that we define it, right? Things don’t always, the reality always doesn’t reflect appearances.

Right. I know a guy, I chat with him, uh, not too long ago and uh, he told me like, quote, I’m the poorest rich person. I. And what he meant by that was is, hey, I’ve got a, I’ve got a bunch of real estate and I own it, and I, like, I literally, I own millions of dollars worth of real estate, but I’ve leveraged those to the max and, and they are growing in equity and his portfolio is gonna be awesome one day.

But along the way, like he kind of overextended himself and got himself into a little bit of a, of a jam, but he, you know, he was able to pull it out and figure things out and, and is doing fine now. But I just remember him saying to me, Steve, I’m the poorest rich person I know, like everybody thinks that I’m super wealthy and.

In this real estate millionaire investment, they wonder how I did it. And they all think that this is so amazing and so awesome, and yet I’m barely getting by because ok. Because of, of the leverage now. Yeah. And that’s one of the, the important things, right, is that you always. You know, when we get back to the basics of real estate investing, like you, I love what you said earlier, Kevin, like real estate has made more millionaires in the United States than any other, uh, investment vehicle, right?

Yeah. And, and real estate, Obviously, we’re big believers in real estate. Especially when done properly, and it can be done properly in a multiple different, you know, variety of ways. You know, we believe in, in very, you know, conservative cash flowing rentals, single family properties, and we, we feel like that’s a great way for, you know, the regular person to go.

Because it’s a very safe and conservative and, uh, very proven, you know, way, way to move forward when you do it the right way. Cause even with single family, resident property, you can still get yourself into trouble. Sure. This podcast, Kevin, it’s a, it’s about this concept of, of what does it mean, right?

What does it mean to be a real estate, you know, millionaire, right. You’ve got to be so careful that appearances like things just aren’t what they appear to be in so many cases. In fact, you know a lot of people who kind of put themselves out there a lot of times. Zero of their income comes from real estate and they may or may not even own real estate.

They may have owned real estate in the past, but they put together some education and some different things and they set themselves up as kind of a guru. And that’s where, you know, the lion share of their money comes from. And even those who who do have real estate, and even when they do have large portfolios, the vast.

Majority of their income isn’t coming at that point in time from their real estate investments. And so, you know, you just have to take with a grain of salt, you know, how people position themselves. And I would, I would especially be, you know, just a cautious around people who are really setting themselves up, Hey, be like me and live this lifestyle that I’ve got.

And in many cases they do have that lifestyle. Yeah. But they’re, they’re just barely squeaking by, they’re living paycheck to paycheck or Right. You know, education program that they sold to, education program that they sold. Yeah. That, no, that’s great. Unfortunately, that’s the reality in, in many scenarios and situations.

And so, you know, you just gotta, like I said, you just gotta take with a grain and salt, you know, some of the things that you see and you gotta be cautious and, and vet, you know, anybody that you wanna work with. Because at the end of the day, like real estate education is, It is good to become knowledgeable and to become educated, and it is good to to, you know, to an extent understand what you’re doing and when you, when you position yourself with others who are going to assist you, I think it is good to kind of vet their situation and make sure whatever their appearances, whatever they’re projecting, also matches reality so that you can know that you’re working with individuals who kind.

Been there and gone through the ups and the downs of real estate and get the pain that’s involved with real estate investing. And they also get the phenomenal, incredible opportunity that we have in real estate in this country. Yeah. And so, yeah, I love that, Steve, and it’s super true. And so here’s something that I thought about Steve.

Tell me when you think of this. So, okay, so somebody may say, All right, I’m a millionaire if I own, if my name is on title of enough properties, that sort of. Have an equivalent value of a million dollars, regardless of the debt that I have on it. Somebody could say I’m a millionaire because I have over a million dollars of net worth or equity in the properties.

But I also, this is an opinion that I have held for a long time that I think that being a millionaire I, while it is quantitative, I think that. Far too often we think about it quantitatively instead of a qualitative approach to being a millionaire. Here’s what I mean by that. Could you be a millionaire in your mindset?

Now, here’s why I say that. I remember Steven, old client of ours, and I remember here was a guy, he had grandchildren that lived out of the state. And before he met Drey real estate, Before he did real estate, he was not a wealthy guy. Okay. It was just he, he had, he had about enough money, and this was back when we were doing real estate, when we could do properties that were, you know, less than what somebody buys properties for today.

Right. When we were around the a hundred thousand dollars mark, you know, it’s like right after the crash when real estate was really. I remember he had this ira and it was, uh, it was, you know, he, he had it in a self-directed sort of situation and he was past the retirement age and he was sort of facing retirement and saying, I get some social security.

I’m gonna draw on this a hundred ish thousand dollars, and that’s what I’m gonna live off of. And that’s what I have to get me from now to the end of my. He was a widower. Um, but he had grandchildren that lived out of the state and, and he was not somebody that had a chance to go and visit them a lot cuz he didn’t feel like he had a lot of money to work with.

Right. He had his sort of fixed income, he had some money in, in an ira, but he was really worried about all of that going away. And I remember Steve, we helped this guy buy a free and clear property and that free and clear property started to generate just enough income so that he felt like his principle was intact.

It was safe in this, this piece of real estate, but it was generating this income that he could draw off of cuz he was past, you know, 59 and a half and he book. A flight to go visit his grandkids and all of a sudden felt like he could go visit them whenever he wanted to because he had a property that was generating income.

And I remember feeling like this guy just became a millionaire in mine’s. That from the standpoint of most people, when we wanna achieve real estate, millions or millions in general, we think that, that we’re attaining some level of financial freedom. That’s ultimately what we’re associating that term of millionaire with, right?

We’re associating with, uh, some form of financial freedom. Well, if we’re gonna talk financial freedom, all of a sudden it does take on a different meaning than just a millionaire. Cuz millionaire, yes, we can. That’s quantifiable. But I don’t get there like you, like we’ve already demonstrated, we know, quote unquote millionaires on paper or else, else, otherwise, that are the poorest, quote unquote millionaires you’re ever gonna meet.

Right. Which is, if they stop working today, they don’t have, they’re, they’re not the definition of the millionaire next door from Thomas Stanley’s book where they could stop working today and maintain their exact standard of living every day forever. Right. That’s kind of. The, the definition of real wealth.

Well, this man, this older man, he who we helped by this piece of real estate here, this guy was, he was now a millionaire mindset from the standpoint of he unleashed freedom through one property that gave him everything he could possibly want at that point in his life and more. And I wish that more people viewed their real estate, their real estate journey to millions or otherwise.

Through those lenses, Steve, which is why we created this podcast, Replace Your Income, because that for us is what it boils down to, right? It isn’t the quantifiable millions as much as it is the quantifiable freedom number. We’ve had Mike Fritz talk about a freedom number O on the podcast. We’ve had Alan Aquina talk about, uh, what do you call it, like the.

Woohoo number or so what was it? It was like the, Do you remember what Alan’s term was for it? Like the financial freedom number? Yeah, I, Yahoo Number, whatever it was right there. There’s these numbers. Yes, you could put a number to it, but at the end of the day, you and I are on the same side of this coin, which is.

While, while you may have the ability to achieve real estate millions, because real estate is awesome and it’s probably more likely to get you to whatever your definition of millions is, probably more likely than almost anything else that you could do for all of the reasons we’ve talked about on this podcast.

But at the end of the day, what you ought to be focused on, my friends, is this. Income replacement number. How do you get to the point where you could stop working today and your real estate and your investments could continue to maintain your current standard of living for as long as you wanted to without you feeling like you had to continue?

To work. And if you wanna work, awesome. You’ve got this income that’s being generated for you that can just maybe add to the life that you wanna live. But that’s the point, is that we don’t want you to think about being a millionaire like others or millionaires. We just want you to think about being you.

Like what’s the definition for you? And then real estate can help you obtain it. And that’s really the key of what I think, Steve, you and I both feel. Yeah. At the end of the, the day, for us, it’s more about that freedom than it is about any particular number. Right? A million dollars. Like what does that, what does that even mean?

If your annual budget for the way that you live is a million in $1, well then you’re, you’re living paycheck to paycheck and you’re not free. Right? As, as opposed to the individual who lives on. You know, a hundred thousand dollars a year and they make, or their real estate is generating 120,000 a year, like they’re food.

And, and that’s really what it’s all about. We, we have a, an associate that, uh, that we work with Mike Chamberlain. And that’s not how much you make. It’s how much, Yeah. At the end of the day, it’s what debts have you uncovered yourself with? What are, what are your expense? What does it take for you to live comfortably and do the things that you want to do?

I, I tell the story. You know, I’ve told the story a couple of times about my son who went and served a mission down in South America and he lived off of the rent of one property. So for two years he literally, he was financially free. He lived on less than $400 a month, and that property was paying for it.

So if you can figure out how in the United States to live on $400 a month and you can buy one property and it can cash flow of $450 a month. You are financially free, my friend. That’s right. You are. You’re gonna have kinda that millionaire mindset, right? I mean that It’s gonna feel that way cuz you’ve got freedom.

Right. And, and you don’t need the million because you’ve created the freedom with, with hundreds. Now at the end of, at the end of the day, you know, you may want to have additional excess. Maybe you have some, you know, some philanthropic hopes and dreams of being able to contribute to different, you know, your favorite charities, to your favorite organizations, and, and maybe you want to, you know, help your children and your grandchildren.

And so you wanna have some, some access. And those are, those are all awesome goals and all of. Once you’ve replaced your income with real estate, uh, which is our objective, like you’re not just gonna stop, right? The beauty of of doing real estate, the way that we do it is whether you like it or not, you’re gonna, you’re gonna continue to increase in wealth and in cash flow.

Like there’s, there’s no way around it. You gotta, if you have a mortgage and it’s fixed, And that that payment’s not gonna increase. Well, you, your, your rent is going to increase when you have that property paid off, that rent is gonna continue to increase and the property’s going to continue to increase in value.

And so your wealth and your cash flow, whether you like it or not, is going to continue to increase. And so if you continue to execute the plan and your income replacement, uh, estimate goals. If time is a little bit on your side, uh, the inevitable is you will become wealthy and you will create excellent cash flow.

Absolutely. And you know, just to kind of wrap up the episode, sometimes people may also think that being in a millionaire is you’ve got a million dollars in the bank. Right? Well, the other two definitions that I know of is you got a million dollars in the bank, or you get a million dollars in residual income.

Well, if you’re generating a million dollars in residual income every. I don’t know what kind of lifestyle you feel like you need to have that is so much money on a monthly basis. It’s awesome if you got it. And if it, if it’s, I got a million dollars in the bank, who in their right mind is gonna keep a million dollars in the bank?

right? That’s not where you’re gonna keep that money. And so again, when you hear people say, Become a really real estate millionaire, what’s that definition? Is it owning a million dollars of real estate regardless? What the debt servicing is on it. Is it owning a million dollars of equity in your real estate?

So you own multiple properties, maybe own 5, 6, 7, 8, 9 properties, depending. Maybe it’s less than that. Depending on whether your properties are free and clear, whether or not they’ve got leverage, whether, which markets that they’re in. Is it you? You have a million dollars of residual income coming in every month because you own so much real estate that you’ve got all of this residual income coming in?

Or is it that you’ve got a million dollars sitting in the bank? What is. That people are using as this thought of being a millionaire? Well, For Steve and I and for this Replace Your Income podcast. If you haven’t read the book, uh, The Millionaire Next Door, we highly recommend that you read the book. The Millionaire Next Door, The Millionaire Next Door, may give you a different outlook and a different version of what you ought to be considering and thinking about.

You know, the millionaire next door says, Look, there’s millionaires that look really wealthy on the surface, and this book does all this research. It says, Look, the people that that claim to be millionaires or that look like millionaires, here’s the lifestyle they have versus those that are actually millionaires, meaning they’re financially.

Free. If they stop working today, they could maintain their exact standard of living in perpetuity. And here’s the kind of lifestyle that they have, the kind of cars that they drive, so on and so forth. And it’s really, it’s a fascinating study and it’s all based in. Research and data for Steve and I, what we would like you to achieve is that millionaire mindset from the standpoint of what is it that you need to do with your real estate?

How many properties is it? How much residual income is it in order to get you to that point of. Freedom where you can say, I don’t need to replace all of my income, but I need to, when I stop working, my income’s gonna decline by 30%. So I need my real estate to make up 40%, right? Because I want even a little bit more than when I was working.

That may be your millionaire mindset number and that freedom number. For others of you, it may be, how do we replace all of your working income with simple and conservative real estate? Some of you, it’s just gonna be, Look, I’m fine. I’m more than, Okay. I just wanna add real estate to the portfolio because I want the freedom of my, uh, the mind freedom to know that I can leave something to my loved ones, and that may be the way that you feel like a millionaire because of the wealth that you are generating and creating.

No matter what real estate can get you there, and we think that simple and conservative single family residential real estate and some of the best markets in the country where the vast majority of the heavy lifting and hard work is done for you, but where you can increase predictability through the conservative nature of this real estate.

We feel like that’s the way you can get there, but it doesn’t happen over. It happens over time and it’s little by little one property at a time, hitting real estate singles that can help you achieve that level of freedom that maybe you are seeking. So for Steve, for me today, what we hope you guys do is maybe you clicked on this episode cuz it said Millionaire, and that’s a buzzword and people like to know what that word is about.

Well, Ask yourself the question, How would I define real estate? Millions for me? And do I even need real estate millions? Or is it just that bit of freedom that I’m searching for? And then ask the question, how does real estate help you achieve whatever that is for you? Any final thoughts and words, Steve?

Yeah, I mean, I, I would end with this. It, it’s an exciting journey to work towards achieving that freedom. Whether it’s millions, whether it’s hundreds of thousands, whatever the case may be, right? Whatever. What you just were talking about, Kevin, whatever that that freedom number happens to be for you, it’s an exciting, exciting journey.

It, it can be boring in moments, it can be painful in moments, but there are, there are some exciting times when you’ve owned a property. You know, after that four or five year mark, things start to get very exciting. I’m in the beginning stages of buying two more properties for my portfolio out. Out in Memphis, and maybe a third we’ll see, you know, maybe, uh, the first part of next year.

But it’s an exciting thing to be building this little portfolio and, and actually, you know, not to be, be saying stuff like, I, I’ve just bought my hundred 61st property. It’s like, oh, you know, I’ve got my, my, my small handful, my, my little portfolio that’s building and growing and knowing. That it’s happening and that in a short period of time, the reality, the the, the theory becomes reality and the theory becomes reality for everyone who gets involved and who, who jumps in and, and gets to work and kind of has that discipline and the endurance to, to, to, to work it, to make it through.

It’s pretty cool. It’s pretty fun, Kevin, as you know. It is awesome. All right, well thank you so much everybody. Uh, thank you for tuning in to replace your income. We will see you next week. Uh, hope that you’ve enjoyed this episode and, uh, hope that you have a very merry Christmas. That you’ll have Christmas, a little bit lid, probably in a couple days when this episode drops.

So we hope you have a really merry Christmas. Uh, we love you. We appreciate you, we’re so thankful for you and that we get to have these conversations with you and have these conversations together. So have a wonderful holiday season. Thanks for tuning in. Tuning in. Try to create that definition of real estate millions for you, and then find a way that you can get after it bit by bit, little by little.

And go read The Millionaire Next Door if you haven’t yet. Do that over the Christmas. All right, everybody. We’ll see you next week. Thanks so much for listening to Replace Your Income with Steven. Kevin, if you’re not subscribed already, be sure to head over to your favorite podcasting platform and do that now.

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We’ll jump on a quick call and put a free and personalized income replacement estimate report together for you. Your report will show you a step by step plan of how you can begin replacing your income one property at a time, starting right. With the resources you already have, it only takes a few minutes, but could change the trajectory of your entire financial future.

So until next time, just remember income replacement for you and your family may only be one property away. See you next week.