In this episode Larry discusses the importance of buying and holding and being a landlord as compared to being a hamster on a wheel working as a “wholesaler”.
With that said; also think of this as planting a garden, your properties are the seeds.
The tenants got to work for you each month in order to bring you money, this should be remembered when making decisions on how they need to be treated. Larry believes in treating his tenants like “clients”.
Many new investors believe that they themselves need to be able to “afford” the mortgage which is simply not true. Landlord mindset should dictate that the tenants pay your mortgage, not you.
Larry also discusses how the tenants that occupy all of his properties have provided his retirement income while at the same time paying off the loans on these properties which in turn creates equity in them.