Rachel Richards on what it really takes to succeed with syndicated deals

At age 27, former financial advisor Rachel Richards quit her job and retired. She now lives off $15,000 per month in passive income. Rachel Richards is the best-selling author of “Money Honey: A Simple 7-Step Guide for Getting Your Financial $h*t Together.” She is an entrepreneur, professional speaker, and investor. In her newest book, "Passive Income, Aggressive Retirement," Rachel dives deep into the topic of passive income and financial independence. She explains why building self-sustaining income streams is so brilliant. She outlines 28 different passive income models and how to start creating them. For most of us, retiring at 27 sounds like a dream, and while it may seem unattainable, it’s certainly not impossible, as we learn from Rachel. In today’s episode, she sheds light on how real estate played a key role in achieving financial freedom. We learn about her real estate journey so far, the metrics she focuses on, and how she ensures that a property will ultimately be a worthwhile investment. Although the rental income she makes from properties is now passive, Rachel does not sugar coat the effort it took to get her into this position. Episode Links: https://theshorttermshop.com/ https://www.instagram.com/moneyhoneyrachel/ https://www.moneyhoneyrachel.com/ --- Transcript Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals. Michael: Hey everyone, coach Michael here from the Roofstock Academy just wanted to let everyone know we had Avery Carl on our show a while back and she was talking to us about short term rentals and she was actually kind enough to host me on her show as well. Theshorttermshop.com you can find that anywhere you get your podcasts, and I did an episode with her and it's titled dig your well before you're thirsty. We're talking a little bit about my story and some of my coaching background. So definitely go check that out. We want to support her show as well. You'll find the link in the description right below. Let's get back to the episode Michael: What’s going on everyone? Welcome to another episode of the Remote Real Estate Investor. I'm Michael Albaum and today with me I have a very special returning guest Rachel Richards of money, honey and today Rachel's talking to us about syndications and also her thoughts, predictions, and where we are in today's market. So let's get into it.   Rachel Richards, thanks so much for coming back with me and hanging out. I really appreciate you taking the time.   Rachel: Yeah. Thanks for having me again. This is so fun.   Michael: Oh, my pleasure. You're one of the really fun one. So we're happy to have you back and so excited to hear and chat with you today, because we're talking about syndications and the current market conditions. So definitely, definitely excited to hear from you. For maybe our listeners that aren't familiar with what syndications are, can you just give us a quick two second definition? What is it, how do they work?   Rachel: Absolutely! Real Estate syndications are one of my favorite things to talk about right now. So let's say there is a $10 million apartment complex, and an investor wants to buy it but she can't afford it, she can form something called a syndication. This allows her to raise money from private investors, people like you and me. So we can pool our money together to buy this large piece of real estate that otherwise we all might not be able to buy. So we can pull our money together, buy this piece of real estate, the cool thing is we are not lending our money to this syndication or to the syndicator. So we'r