Ep 92 – Starting Young & Buying Creatively | with RTR Client Guest: Ruchit Patel

One of the biggest things that can skyrocket your investing journey is starting young. Ruchit Patel is a young investor who discovered the power of real estate investing after moving to the United States for school.

After researching many different investment avenues, Ruchit realized that real estate investing could be the route forward for him to achieve the financial goals he has set for himself.

Listen in as Zach Lemaster and Adam Schroeder talk with Ruchit about how he became interested, what he’s doing now, where he’s going, and how Rent to Retirement has helped him along the way.


Wealth/Rental Calculator

Current Hotlist Properties


Transcript:

Adam
Hey, Rent To Retirement, it’s Adam Schroeder here for another episode. And I am once again joined by Zach Lemaster, the founder and CEO of Rent To Retirement and today we have a investor and a special guest, that is a Ruchit. You may have seen him on the YouTube channel, if you’re watching this now. He’s a commenter there. But he also has a build going on with us. He’s got big plans for his future, to put it mildly from the conversations I’ve had with them. So Ruchit, thanks for joining us today.

Ruchit
Yeah, thank you for having me, guys. I’m excited.

Zach
Ruchit is Adam’s number one fan. I think, if I’m not mistaken, based on his engagement on social media, but no, all kidding aside, we’ve I think we’ve all had conversations with you for many years. And it’s just really cool to talk to someone who’s passionate about real estate, who has a unique perspective of coming to this country later in life and realizing the opportunity here and deciding to take action. Based on that opportunity available. I think that’s a very unique perspective. And someone that just really can talk kind of high level about, you know, money and how you can be strategic to take control of your own finances, and you use real estate. But I mean, if you can just give us a little bit of quick background about yourself and where you’re from, where you’re headed. What what kind of things you’re doing in real estate right now. That’d be great.

Ruchit
Yeah, absolutely. So by education and occupation, I’m mechanical engineer. But if I talk about that would be completely wrong to our audience. So let’s talk about everything. Four and a half years ago, I came into this country spent a couple of years University model about money, not just trying to go paycheck to paycheck, survive ramen noodles and stuff, right? Then, around two years ago, two and a half years ago, I got a job, kept my lifestyle simple, I start seeing money in my bank account. And that’s when it might be exact to your summer of 2020. First time I asked myself, What do I do with the money? And another question, given my mind was, how can I make more using that money? We all know there are enough people in this world, getting paid to do nothing just to sleep and have fun with it, right? Like, why not me? So let’s figure that out. And then the entire journey started from there. And so first thing I started reading books, I started with all the amazing books like crypto trading, stock market trading, forex trading, that’s all gambling. But that’s when I was 24. Okay, first time, I wasn’t making money in America. And while going through it, I’m realizing that this is your gambling like, and there was a time of COVID are locked down. So volatility was crazy high. I read books on gold trading, network marketing, everything I can get my hands on. Because time is my w two job X amount of time, time is limited. I’m on visa, there are restrictions from government what I can do in this country, stuff like that. And while going through everything, nothing, McMahon’s made any sense. A couple of months goes by like what do I do now? And guess what, what happens? Now? You would think I learned about real estate, right? No. I opened my account in Robin Hood to do stock market trading, because I could not see any more options to make money. And every my friend, roommates were doing it all the time.

Zach
You bought Gamestop right? Is that what you did?

Ruchit
I’m fine with everything that I know. And I started and I was like, No, I’m smart person. I’m engineer. I can figure this out. I won’t go into Gamestop I will do something smart long term. Lease and we all said that and then the user interface just sucks to him. It’s like you know, being in Vegas all night, man. I just kept going going and I made so much money the beginning thousands and thousands of dollars coming every week until the day come where you want to hit something or or president with something crazy. Everything come down crashing and and it took me 18 months to realize this is not the way to go. So isn’t every good story has a lot of failure in it. Right? That’s my 18 Month $0 met.

Zach
Is that when you found real estate is that when you decided to go into the real estate aspect?

Ruchit
While things were going up and down and I’m like, Man, I don’t want this live every day my mood is depending on what happens early morning in California. 6-630 In the morning market opens red or green, big tech mine how am I more Whatever you will be on that day, right? And I’m constantly looking at data and options and everything. 18 months and things go bad while and once in a while things go really bad. So I give up on Robin Hood, and then try to figure out something else. And I come back, right? While doing that, February or March last year, I keep. I was constantly googling how to make money, how to make money online, like looking for every single web post. And sometimes something about real estate pops up. And there are many other investment company there pops up. And I keep calling them keep talking with them. And they all said good things. I didn’t believe in any of that. Including our tour, by the way, including Eric. Last year. I think BiggerPockets website showed up the header from some random comments. I clicked on a link. I think it must be commenting on someone’s question. I click on that. It went to our to our page, I see amazing reviews good inventory, so I shouldn’t upon mind. And they were like, Yeah, you can invest your money back 20% down. You get the equity in a house as the debt paid down, you get the cash flow and appreciation of house with an average of five. And I’m like, No, are you kidding me? That’s too good to be true. Right? Like, again, I had no clue. I was that beginner. And I didn’t talk with Eric for another five months. Or anyone I mean, and then the more I learned I’m like, that sounds true. Maybe everyone’s saying that it’s possible, you know, online, all the youtubers and everything. So I call Eric again and say, Hey, is it really true? All I need to do is give you the down payment. 20%, and then someone pay for the house, someone you meet cash flow, and house appreciates. It’s my money. Like, and he was like, oh, yeah, that’s how capitalism works. That’s normal. And that’s how we do work. My everybody is motorists in America. And he’s like, there is no answer. But you can say there was a big turning point. And it literally is only a year ago, I was complete beginner.

Zach
So let me stop you there because this is a beautiful story. And I love it, I want to unpack it a little bit. It sounds like what you really figured out. And this, by the way is, you know, I’m glad that you had kind of consistent conversations with with people on our team. But really what it sounds like you figured out is just the benefits of owning rental real estate in general. I mean, this isn’t something that’s obviously, you know, unique to our company by any means. But real estate, I mean, we talked about the four ways you can earn income, right? This is from the cash flow, everyone thinks about cash flow, and sometimes focuses too much on cash flow. But there’s also appreciation, you can use leverage, which means you’re putting down a small portion to own 100% of the benefits of real estate. So you can stretch your capital further, you’re using leverage, and you can expand that to multiple, multiple properties. And then you get the tax benefits and depreciation, the tenant paying that loan down for you. I mean, all those things combined together. I mean, it was very eye opening for me as well. When I kind of saw like one or the first I remember the first time I actually ran the numbers, not just on a one year analysis, but when I actually looked at where I want to be in five and 10 years. And I said okay, once I could kind of conceptualize and say, five or 10 years if I have 10 houses, and there’s a very modest depreciation at 5% per year and the loans being paid down at two to 3000 per year and more year after year, and cash flow is going up because rents are going up even slightly. I was so conservative, but then when I saw the picture 10 years later is like holy cow. There’s nothing else that compares to that. And then I learned later about the tax benefits do you have an expedite that? But anyways, going back to your story, came to America for about four years ago started making monies and then decided like what are you going to do with your money and we’ve had all these different rabbit holes right? You looked at all these different things and ultimately decided on real estate but let’s dive into that a little bit more like what what is it about real estate? Was it just a simple fact of oh, you can actually earn income multiple different ways? Or I mean, what else attracted you towards starting to be a real estate investor?

Ruchit
Yeah, yes, I can talk about that. So stability, consistency, repeatability controllability, right? If even if you own Apple stock one of the greatest empire ever built how much money you make it still comes down to how good the show is on Tim Cook max or Steve Jobs max right in that company. And anything can happen like some supplier in Taiwan could not make chips for six months and Intel stock goes down by 30% you see my point amount of time we spend making money and saving money from from a W2 job and like it doesn’t make sense to me just putting money like that. So amount of predictability and consistency interested brings is unbelievable. There is no margin call and look at America is one of the greatest economy ever right? I mean, yes, things are not looking good from a medical perspective but from outside perspective, countries fine. Look at the interest straight. Like I tell people, if I borrow 10,000 or $1,000 from you today, but I tell you, I will give you back after 20 years, what we lose and they’re like, Screw you, right? That’s not worth it. That’s for Saito Bank is doing, right, giving money 345 percent interest that’s free money. That’s literally free money. Most people have no clue how inflation or interest rate looks like in European country or Asian countries, like this is nothing. Economic cannot be better than this. It’s just unbelievable. And we have to make use of it.

Zach
I love that perspective, because you are talking about there’s so many of you know, in this is normal, this happens, right? So many of us that are hyper focused on what’s happening in our small bubble, which could even be considered our small bubble as the US of what’s going on right now, economically, speaking of like, interest rates are going up, pending and you know, there’s 40 year high inflation once again, in June, and then there’s like, you know, possible pending recession right around the corner, which, again, it could be argued that we’re even already in recession to some degree. But I mean, you know, it’s interesting to hear your perspective of looking at the outside in saying, you know, all things considered, there’s still a lot of opportunity. And that’s, I think, what’s allowed you to not, that’s not slowing you down from your investing, right? You’re still going going going, how can you be more successful and prep yourself for the future and be successful investors still in today’s market? Right?

Ruchit
Yes. And listen, COVID happened. That’s out of American government control. Lockdown happened, no one could work in a factory for two years, price of goods bound to be increased, because demand is exactly same. And supply went down, right. And if people were not ready for that, it’s like, that’s not government problem. If interest, interest, rate hike is coming, tax hike is coming. That’s just obvious cycle of economics, right? I mean, and keeping your lifestyle simple. Keep saving money investing and inherited which time works for you. Or there’s another thing real estate, right? Time is working for you. When stock market is flat, your money value is decreasing by inflation, harder said it is constantly going up with time and an inflation. So another thing is it states it’s amazing. Out of all the millionaires in America, and if you make a pie chart, like how they became millionaire, and the biggest pie is real estate period this morning, right and precise, like, Listen, I’m not trying to make billion dollar no other if I just want to make few million dollar just do what people are doing in America, right? That’s how I Google things.

Zach
Simplify it. Yeah, buy a few houses and buy a few more. Right?

Adam
You got a wheel, you don’t have to reinvent it.

Ruchit
And Adam, like, give me an example of any business which can cash flow from day one, right? There is no example. Most business makes money after five to 10 years. And there are more things like with any product or any investment there always be competition, right? What is competition have for human living in a house? None. For the next few 100 years? I don’t think human will find alternative of houses. Until that is an I don’t think we can make more Planet Earth. You think about it. Like what do you want out of your business? Monopoly? No competition, cash flow from day one tax benefit everything.

Adam
One of the things I love is you whenever I spoke with you, you know, it was your capital at the moment is slightly limited, but you’re still wanting to move forward, and you’re finding ways to go out and get what you need to continue on. When you look at your real estate journey. Like, you know, you look out 510 15 years from now. What are you seeing in your portfolio? Kind of what is your overarching goal for four years? Do you have a number that you’re hoping to hit? Or are you kind of Let’s blow it out of the water and see how high we can go?

Ruchit
No, that’s a good question. I should have it but I am not who I am by planning that long. When I came into this country, I quickly learned that you when you change countries, everything is new, right? The way you walk on a sidewalk, the way you hold the door for someone when you say thank you, when you say sorry, everything is different. You are adapting to it. And I told myself, I want to live day to day and explore all possible opportunities, right? And give best today. So if you really asked me 15 years later, that’s more than half of my life. No, I don’t think that long. But if you ask me, What will I do like now? Keep every single dollar I make in real estate. If best deal possible, and if I keep doing that for 15 years, I don’t think I have to worry about my future. Right? So that’s how I’m taking my life. It’s different perspective, right? You get my point. No, but yeah, but if you really ask 5, 10, 15 years later, like, Man, I want to make 10, 20, 30,000 a month, just is crazy, right? And just never have to trade time for the money, basically pretty much that.

Zach
Your excitement is contagious. Routine. And I love that I love having someone that’s excited about real estate and is passionate, because because we are I mean, everyone in our team is excited and a believer about what real estate can can do. And we’re not sitting here saying it’s all you know, rainbows and sunshine, because there’s challenges, there’s always challenges. But there’s also, you know, there’s always opportunity and opportunity in challenges, and we’re always learning this is a lifelong journey. I mean, this is the way at least I look at real estate is that it’s a lifelong journey. And it’s really a way to create generational wealth, you know, for future our future for our kids and our kids to go into create a better life. I think that’s what every parent wants is for their kid to have a better life than they did, and have that education and resources and benefit ahead of them. So I just love your excitement. And you know, this is this is good to kind of have these type of interviews sometimes as well.

Ruchit
I want to follow up on what Adam said about me not having typical some time and how I approach it right like, what are in very quickly I realized the first three months in in America, I realize if you are good Hustler, if you are smart, and you willing to put hard work this country appreciates, like, you don’t need that much of luck to be really successful, like country of 1.5 billion people India and China. It takes a lot to be successful. Okay, there are enough smart, hard-working people. America, it didn’t look much like few months down the line. I was just me being me. I was keep getting more respect and reward from professors. I even got full funding from university. I mean, I was like, doing anything extra. I’m just being me. And quickly I learned that if you are a good Hustler, people appreciate like this country helps you a lot and and so many books are including Robert Kiyosaki all the books they always, like sanctums finish the conversation but question initiates right? And I don’t have money. How do I get money? This is America, there are enough rich people out there. Keep if you knock 1000 doors, you will get money. Simple as that. I tell people you want to be rich. Go in Silicon Valley, knock all the multi-million dollar houses, ask 100 People How did you make money, one of them will will see young younger than in you invite you inside and might even give you a quarter million dollar to try something simple. Right?

Zach
I mean, that’s yeah, the hustle aspect is really what it’s about. Do you think that was a competitive advantage for you coming into this country having to, you know, not be already stuck in a mindset, you know, already like, I mean, it kind of it as I’m hearing your story, it sounds like you were able to I mean, everything is new, as you mentioned, but also that is like, right away, you see the opportunity, right? And you realize that just from the perspective of where where you’re coming from that if you put in the time and energy and education, I mean, the sky is limitless, right? Do you think that was an advantage to you?

Ruchit
Well, absolutely. Like even on a campus of 1000 acre all the big university, what most people do, they go to same building, same department with same friends every day. And they boast about oh, I am in that university big of a campus. Right? But hey, like, Did you explore this or that if there are 500 acre of campus 100 building what I used to do, I used to go every different building all the time, make friends across more than 10 departments, right? And just with that mindset, exploring there is so much to see here and and I was fine making mistake. I was learning English and everything and, and quickly, I realized that if I don’t mistake right now, I will be sampled all my life, right? So better look bad, or get embarrassed right now. For next 30 Better years.

Zach
Yeah, same goes with investing, right? Make those makes make those mistakes now, that way you can be more successful in the future. Well, there’s no doubt I mean, we’ll maybe shift from mindset a little bit there’s no doubt you’re you’re very passionate about about real estate investing and just opportunity in general rooted, it’s awesome. And there’s no doubt you’re going to be a highly successful person throughout your entire life. You know, we’re excited to be on that journey with you and see where you’re going. But let’s talk a little let’s zone in a little bit on real estate specifically, can you talk about you know, once you decided to invest with with rent, retirement and kind of, you know, can you talk a little bit about things that we were able to assist you with now that this is a huge plug for us, but I’m just kind of curious from your perspective, like, you know, what, what things did you find that were beneficial and what what are you doing in real estate right now?

Ruchit
Yeah, absolutely. I mean, there are two things I really want to talk one is just how our two are helped me and everything. And second, there is so much talk about market going down and crash and everything right and how I look at American market not knowing history of America, I also want to talk about that crash summer, first call in February with Eric, then I was like, that’s not too good, too good to be true. It cannot making money cannot be that easy. So I didn’t believe in real estate or anything. I kept watching more YouTube, and kept calling more people. And eventually, July or August, somewhere, I think I got a random email from Eric again saying, Hey, how you doing? And I was like, Let’s go on a call. Quickly, I learned in America that if you can act dumb, I mean, I didn’t have to act. I was dumb. But if you can act dumb and willing to show vulnerability and ask question, make mistake. Some many times, especially old people who are 40 Plus, you know, they like to teach, they like to share their ideas are not transferred the knowledge and I kept doing that with, with our to our people. The stupidest dumbass question you can think of I kept asking all of us, and I mean, half an hour at one time, but there might be 567 weeks in a row. I’m gonna call with RTR, especially Eric. And I haven’t put down any business with our tool, but they just kept answering the same question on again and again and again, until I was absolutely sure if I do this for 25 years, it would be awesome. And so literally any question you can think of, I asked him and, and then I said to him, Okay, this is the money I held, let’s do something. And he said, Okay, let’s do something. So what I used to do, you guys won’t believe this, every single day, when the artwork is later come out. And I’m clicking on the inventory. And looking at it every single day, like I was looking at it so much I can, I can even see a typo or, or there is no Miss information in a percentage I can like, without using the calculator, I can tell that’s wrong. I was looking at numbers so much. And then and then get coral thing came out there were YouTube videos, Eric mentioned about Cape Coral. And he said, Hey, if you are willing to wait one year, or more than a year, there is amazing opportunity here to make money, which is like a lot of equality. And I said, Wait a minute, wait a minute, that cannot be true. Are you telling me that by signing this contract, and putting only 10 20% down and waiting a year or two years? I can get $60,000 activity in a house? And he said yes, I said that’s equal equivalent money of someone working 40 hours a week with a good job in most part of America, and then I can get paid just to sleep over two years my signing contract right now. And he said yeah, that’s how we’d work. Capitalism. Right.

Zach
I mean, potentially, you know, there’s there’s potential risks with that and stuff. But no, but I mean, the people coming full cycle actually, every single person that’s that’s completed those projects have had over six figures of equity position and thanks to the market that’s just knowing the market right being in the right place, right time.

Ruchit
So I said, Let’s go we do it. And when they when I used to find all the all the things, contract paperwork, and man, I was so scared. It’s like, what is someone trying to drive me what this this is a scam, right? Again. I’m new in the country, I have to look at everything with a with the eye of detective. I have to think in a way everyone trying to attack me sometimes, because it’s my hard money. I’m one click 1000s of dollar get transferred. You know, it was very emotional for me when first time I met the click to buy the lot in Cape Coral. And every time I go on a call with RTR or people in Florida, and they keep helping me sometime. I will ask them like bread. If I find it here, show me all the ways you can screw me over. And he’s like, Why do you ask? I said I want to know how to learn about the contract how everything works, right. And I was very scared person. But no. Like I said the thing about all two arrays, the transparency and educative mindset. I remember YouTube videos from Zach where he always mentioned Oh, yeah, come on, come talk to us. We are here to teach. And I was like, Oh, I like that. I will call them more. And then I give a call and people keep teaching me and I think that’s amazing way to make a business and a value out of it. Like one of the speeches Warren Buffett gave and he said, all the biggest Empire are not made by smart people. They are made by people who care about customers and all the long term wealth and that’s what I saw with all too and I was like, okay, cool. I want to work with these people. And I want to keep doing this with these people. So that Yeah, but of course things are looking great. And man people talk about market coming down or crash or or inflation going up. But again, once you find the contract, it’s the hardest set price go up with the time even my house is not built yet. It’s unbelievable. So I think I forgot what was the question but yeah.

Zach
Yeah, you answered it. Yeah, I asked you to fold you know about You know what RTR how that’s been how we’ve been assistance to you. And I think the, you know, listen, I really appreciate that feedback of just offering, you know, education, because that’s very important. And that’s absolutely the culture we tried to build here is we’re all passionate about real estate. But more importantly, we’re passionate about helping other people. Yes, this is a business and we’re all here to make money. But making money is a lot more fun when you’re making money with other people, right? And there’s always, in helping other people be successful. At the end of the day, that’s what’s rewarding to all of us. We could do many other things. And we’ve many of us have left other professions to participate in this business. Because we enjoy this right? We enjoy real estate, and we enjoy teaching other people how to do and that’s at the end of the day. That’s, that’s what’s really the reward for us. So who should I appreciate that that really, you know, connected with me very deeply. And I sincerely appreciate that. And the other thing we talked about is the real estate aspect, what you’re doing is you’re doing the new construction and coral in the land that you bought, I’m sure it’s appreciated significantly now. Right? So you have some immediate equity and land land is never a bad thing to own.

Adam
He’s not selling it to the same price point as if he was selling to me.

Zach
Oh, you’re selling to Adam? Yeah, make sure you give them a mark them up a premium on that one. So and no, we’re all I mean, we’re all all of us are basically building.

Ruchit
One more thing I want to say. I mean, people might think our two are sponsoring me keep I keep talking about our two or one more thing I want to say is, when I paid money down for Cape Coral, I had enough money left for another Lord, okay. And I keep calling out to or I keep calling Eric and say, Hey, I have money left, let me buy this house, I want to buy their house, buy this house, and they were like, Richard, you are young, have a patient wait, when the best deal come for someone like you, we will give you so I want to I want to say is I never felt pressured. Not only that, even when I say to all to or that I want to buy that they were like, no, no, it’s not for someone like you, we will wait. And I wait few months and eventually ended up buying another lot very nearby in Cape Coral again, and that, again, I appreciate it almost double. And I’m giving it. So. So when I see a title of, there are many other people they say a strategic partner or strategic investment partner something like that. Right? And I’m like, awesome. Let me give a call and indica strategy with them. And that’s what they do. I never felt like they are pushing me to do business. Right. They are literally planning my future, using their wisdom. So yeah, it’s been great journey. Looking forward to many more years.

Adam
You mentioned at the beginning of your you know, when you came over to the US, you’re reading about forex, you’re reading about stock trading, what real estate books, if any, have you read that you feel helped you in your journey?

Ruchit
Yeah, I can talk about that. So because of bigger pockets, and many other YouTubers, Brandon Turner, there is so much resource already that no one is really going to books anymore. There is so much out there. It’s unbelievable. But I did go library and find some Brandon Turner book. I tried to read a fall off, and I got really bored of reading it for customers way more interesting. But like I said, I think in the current world with the internet, if someone doesn’t enjoy reading podcasts are there. So I didn’t really read any book on that. But definitely, I was hearing so much about Rich Dad, Poor Dad and Robert Kiyosaki from all successful people. I didn’t go back and read that and you know, just to read it, but I think I’m a part of generation. So they were generation where majority of people read Rich Dad, Poor Dad implemented it become very successful. Now those people are on YouTube, sharing the knowledge, and I’m gaining from them, you know, some part of next generation you can say that. So I’m not the book generation anymore. But yeah. But I did read Rich Dad, Poor Dad. So I can also say, oh, there was my turning point, you know, because most people say, including Brandon Turner, right? From BiggerPockets.

Zach
Yeah, that one is, I mean, obviously, it probably goes down in history is the most influential real estate book. And it’s, it’s really not even, in my opinion, a real estate book, right? It’s just more like an investing and way to think about money. But but huge. But yeah, so many, so many resources out there. 100% and I think it really comes down to actually just doing to that. I want to talk a little bit Richard about your mindset about taking action. And and I really would try to hit this point home probably annoyingly. So. Some point sometimes. But I mean, it really comes down to you can read and you can listen to all the podcasts and network and pay for courses and do all this stuff. But at the end of the day, you just got to do it right. I mean, nothing will be better than firsthand and knowledge and especially, you know, going through making mistakes and you know, people are fearful of that but that’s I mean that’s part of the game and that’s how you get into being a successful investor. We may So many mistakes. We’ve lost a lot of money. But you know, we didn’t we didn’t know that stop us. But we did that through doing so. let’s I mean, getting your opinion on that. As far as you’re, you’re you’re a doer. Right. You’re an action taker. What What kind of advice would you have for someone that is maybe listening to this? That is in the same position? You were a while ago, wondering, is real estate Right? Or what do I do next? Am I educated enough to take action?

Ruchit
Yeah, I can talk about that. So yes, I was very hesitant to do anything, but then I asked myself why I am hesitant. Okay, I get the answer, which comes as a question that, oh, I want to do this, but I don’t know how to do that. Okay, let’s make a phone call with someone, right? I mean, once I found a call to or it was easy before that, I have to spend hours and hours online, just to find one small answer. But I like asking yourself, like, if you want to do something, why are you not doing it? And let’s say you have some questions, some, there is some hesitancy in you. And you go find the answer. And you keep like, I tell people, you know, many people complain about being what is the word overthinking or analysis, paralysis, isolation, you better be a guy who’s who’s paralyzed by analysis, rather than being reckless, right? So no problem. Keep digging deep, until you are comfortable, right? When I was comfortable, I went for it until I wasn’t comfortable. I didn’t believe in anything simple. So there is a guy named Dan Pena billionaire in Ireland, or Scotland. And he said, in a capitalistic democracy country, you are only 2000 phone calls away from being multimillionaires. That’s absolutely true. I want to learn about something make 100 phone calls to real estate agent can we’ll pick it up, one will teach you everything you want to learn about tax or 1031 Exchange or anything. Call 100. Lawyers online first session is always free. I do that all the time. Ask all stupid questions, they have to answer, right?

Zach
Adam, we need to start charging Ruchit for doing uh [laughs]..

Ruchit
You are doing this for 2000 times you are multi-million or three here in America, it has to happen. Like Simple as that. So that all I do is just keep making phone calls.

Zach
You take action, right? It’s not it doesn’t stop at a phone call. I mean, that’s that’s just you actually taking action and then implementing what you learn. And then and then learning more and then finding people that are kind of in that mentorship setting or, or people that are in the position you want to be and and just leveraging that that relationship and learning more. We’re let’s talk about your future route. I mean, where do you see yourself? What’s the next final week? You said? It’s a little far ahead. But I mean, what’s like, What’s your why? What’s the goal here? What are you trying to accomplish? And is real estate the way to get you there?

Ruchit
Yeah, so I always thought it would be very cool to go back to school. But how money as a backup, like, you know, in university, everyone is broke. Imagine going there with the passive income with you like, wow, right? I mean, anyhow, jokes aside, like I, I’ll be honest, I’m not mad for the blue world. That the diplomacy, the sophistication, the formality and everything, I’m not good at that. Or maybe I just never learned American crops maybe, right. And when I was in university, sitting 12 hours a day in library, I did that every day for years, and I loved it. And if I don’t have to make money, or if I win the lottery tomorrow, that’s what I would do. Simple as that callbacks, cold handling PhD program. Just keep studying. So I don’t see real estate is a plant is a future I see as a bridge, this is me, this is where I want to be. And a bridge is mostly money for most people. And if money can come without working, awesome, let’s do work on that. And then I will do whatever. So that’s how I look at it. And I keep my life shallow, very simple. I don’t let it inflate at all. So I can you know, call it a day very quickly. And not after 20 years, maybe last year. So yeah, once I see a few $1,000 A month is a cash flow. Oh, just go back to school. I mean, I don’t think more than that. I’m too young to think more than that.

Adam
There’s a big shock. He wants to learn more [laughs].

Zach
I love that.

Ruchit
No, I mean being not being a geek and life possible. I strongly believe that people can argue with me good luck, period. And Warren Buffett was saying what to call Columbia. He said something. I guarantee you I spend most time in library than anyone else in the entire world. And if you do that, you will be billionaire. I guarantee you that but also no one will do that. That’s why you guys are not rich. Simple, right?

Zach
Are we willing to do what no one else with do? Yeah.

Ruchit
Yeah. If you want to live like nobody else tomorrow you like nobody does right now. Yeah, it’s very simple. Both and speaking of mindset, I have to say, when I learned about real estate and money and everything, I also constantly read and hear and or podcast about mindset of champions, like UFC world champions, boxing world champions, very rich people, successful businessman, military people Navy Seal, how the push to push all the limits how they do it, right? ultra marathon runners like so every day money real estate mindset of champions, I’m constantly feeding myself that from internet every day, couple of hours. When you do that for two to four hours, it turned into something.

Zach
We gotta make you a motivational speaker. I think that’s that could be your calling. I don’t know. I love it.

Adam
Absolutely. Well, Ruchit, is there anything else you want to share with our listeners before we wrap it up here?

Ruchit
Just just one small thing about real estate market and 90% people are very scared of it. And when you ask them why people think market will go down. And all they say is because everyone’s saying it all. All they say is it’s high too much. But they just don’t know how market is in other country where population is very high. So let’s let’s talk about India for just one minute. 1.5 billion people. There are pockets in India, where population density is so high, just like Li right, Ella has created and city and Manhattan. When people keep coming for more opportunity, they have to live somewhere. There is no alternative of living as a human, we have found alternative of milk, okay, and everything in this world. But not leaving in price can keep going up for decades without a problem. And same for America. Regardless what Americans think hundreds of 1000s of people are coming into this country from outside and they all have fire in their belly. And they’re willing to put the work in. And appreciation is not going anywhere. We might see a deep for couple of years. But yeah, the the price of land in America is not going anywhere. And yeah, that I strongly believe that we’re able to take any actions add on, feel free to put my information in the description. I’m willing to talk with anyone about completely new perspective.

Adam
And when you talk about, you know, getting money, you mentioned interest rates earlier, I remember earlier this year, whenever my wife and I went to Belize, and think I drove our drivers have crazy because I was asking them about, you know, we would see things being built. And I would ask them about you know, their housing market and everything. And this was back when we had you know, two and a half 3% interest rates. And they were all paying every single person there was paying 13 14% for their for their money to build to add on to their homes, because it was so expensive to build that nobody ever knocked their house down to rebuild a bigger one. They just made a new part of their house. But it was all when they heard how cheap our money was it I think they nearly drove off the road.

Ruchit
There is no cash flow in most countries, if only in America, nothing in England, nothing in India. India is third biggest economy in the world interest rates are more than 10%.

Zach
And that’s just a huge prospective thing. You know, I mean, there’s so much we hear all this noise and what you were talking about earlier, simple supply and demand. Yeah, there’s a huge housing shortage right now. And those are the places you want to invest in where you’re going to have, you know, people that are going to rent your house and where you’re going to have likely a fairly stable type of investment. But ultimately, I mean, yeah, there’s so much news and noise out there with just looking on social media. And the news is like, yeah, turn that stuff off. Because the fundamentals of real estate don’t change it. I remember beyond and now it seems like distant history but 2020 and march 2021 COVID. Just like you know, people thought that the world was ending and it did come to a halt to some degree, but real estate did exceptionally well then.

Ruchit
People said they are constantly looking at noise and everything so it’s like the SEC simple question. If you want to learn about football, would you go to Tom Brady? I’m sorry, the earth right? You want to learn about basketball? Would you go to LeBron James answer is yes. If you want to learn about ice hockey, would you go to Lebron James? answer is no. Right? Where I’m going with this not that many people really know what’s happening and so why listen to those people all I do is make a phone call to X but that’s all you need to know. It never matters what most people are thinking money has no soul economics has no soul. Most people say I feel that will happen guess what money has no feeling okay? So it doesn’t work that way. It just follows the fundamental growth up center in fact, Darwin’s cycle and and people should only listen to experts.

Zach
Ruchit, I love it. That is that is so key is talk to the people that are truly working and successful in the field and in place that you want to be you know, and if that’s real estate, talk to those Real Estate Professionals, and the people out there doing it and that are congruent with your goals. But now this has been a pleasure to have you on. We’re, you know, we’ve enjoyed all of us talking with you for the many consultations that we have. But I mean, we, we enjoy talking real estate, we enjoy helping people. And it’s really cool to get your perspective of someone coming into this country, you know, later in life just fairly recently, and bringing us kind of a real world perspective on just the opportunity to invest in the States and especially right now. So this has been a pleasure to have you on Ruchit. Thank you.

Adam
All right. Well, thank you so much, everybody, head on over to rent to retirement.com That’s rent to retirement.com. See our inventory. You know, you can get as into it as Ruchit did and scan every single brochure and look at what all is there scheduling an appointment to have a consultation with one of the strategists. We’re happy to help you out and help you figure out your journey that’s at renttoretirement.com. If you have any questions, email to podcast at rent to retirement.com. That’s podcast at rent to retirement.com. We will answer it on air in one of our future episodes. And again, if you would like to leave us a review on whatever podcast platform you listen to. we’d greatly appreciate it. And we’ll talk to you on the next episode.

Posted in

Rent To Retirement

Find Us On:

Subscribe to Our Newsletter