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Mr Texas rules they go to check out our website M. R. T. X. R. E.com M. R. as in Mr T. exes in Texas R. E. is a real estate.com all right so tonight we\'re gonna talk about. Sort of 4 paths that are are mastermind folks go through or follow to create their wealth creator financial freedom to create their passive income. And again we\'re talking about buying hold for the most part and just for the crowd in if you\'ve never heard us talk about this before there\'s lots of ways to make money in real estate one you can go ahead at wholesale the contract right you can be out there to do marketing wholesaling I don\'t recommend that to anyone but people do it you can fix and flip houses again unless you have a construction background I don\'t recommend that to anyone you can buy and hold to be a landlord that certainly is something that we recommend to a lot of people. You can lend on properties can be just a passive investor right so will hold the note whether it\'s yours or brokering a note that\'s a good way to and then finally the fifth way which we always say is if you\'re actually using the fifth way to make money real estate you\'re pretty well off and that is D. presheaf. Basically using the depreciation on a property to pay off or to reduce your tax burden on something else it\'s very very successful in your life so we\'re gonna really focus on number 3 number 4 that is being a landlord being a lender. And so you know there\'s a lot of people I know the bigger pockets is very popular a lot of fan I\'ve never been on I don\'t really go on there once in awhile someone sent me an article read on to sort of go on I don\'t I don\'t have a lot of time to study my industry. I really don\'t we\'re just we\'re just working really really hard at it when something comes up we need to research yes we research but I\'m not really interested in hearing what other people are doing in Wichita or in Minnesota or Idaho none of that stuff works and the norm really interested I want to know about the Texas market place on about the economy in Texas I want to know about the lending rates in Texas I want to focus in on my market place so I don\'t really spend a lot of time seeing what other people doing around the country at some point we\'ll it\'s interesting but right now I\'m really hyper focused on what we doing. A lot of people come to me and say oh yeah this the disc I did this I saw this when I read this on the floor and I saw the video and again it\'s great but you need to first understand your market and so we\'re here in southeast Texas in South Texas and we love this market and we know this market very well we think that if your lender you\'ll do very well in this market as well as being a landmark so. Again well if you were a child you do the B. R. R. stuff like yes I\'ve done it before the book came out before the guy titled it yes yes yes yes we\'ve done. But. I hear it so much and I think what what it what are your goals then well yeah I\'m gonna do 100 you can do 100 like B. R. R. that\'s yet you can have 100 house sport package yes okay let\'s talk about that or I just want 3 or 4 much better or I do wanna Lind right I got a bunch of bunnies we\'re all golf meets and we all the engineering for Halliburton for 20 years and I\'m just going to be a lender right no pool some of our money into someone that\'s all good to. Well let\'s just start with the again the thing that we focus on first just to get 10 homes right so this is sort of that passive landlord brightens the couple or an individual. And we\'re gonna go get 20 prop 10 properties 20 doors that\'s kind of what our master my folks focus on that first 3 to 5 years let me get 10 properties. Totaling 20 doors. And I got to make sure so first before we do any of that we wanna make sure you have all the financial basics in your life taking care of like you have a Roth IRA you have a life insurance policy your kids college stuff is taken care of we\'ve got good strategies. Copyright Mr. Texas Real Estate.