Payback Time21 Maalis 2023

S3E19 - Robin Binkley - Generating over $5K/month in passive income with real estate

Robin Binkley - Generating over $5K/month in passive income with real estate.

My next guest recently retired from her career in healthcare, to focus on real estate investing full-time. She and her husband put together a plan to leave their full-time jobs and now they are well on their way to achieving financial independence. In this episode, we talk about who you should network with, how to create a plan, how to execute the plan, and deep dive into the numbers in their business model. Please welcome Robin Binkley.

Key Timecodes

(00:43) - Show intro and background history
(01:47) - Deeper into her background and investing path
(04:20) - Understanding her business model
(06:11) - Deeper into her real estate business and numbers
(08:14) - How she transitioned from her career to that passive income business
(10:45) - How she handles unexpected costs, and how much is her revenue today
(12:30) - Is she full-time with that business today?
(14:07) - The importance of a people and relationship mindset
(15:49) - How to overcome the fear of the first step
(17:56) - How other investors can join her business
(19:12) - How to balance education and action to succeed in that business
(21:22) - Building a team based on confidence
(21:51) - A key lesson learned in her journey
(24:36) - The importance of a good CPA advisor to help with the taxes on that business model
(26:15) - One key action the listener can take today!
(31:23) - The worst advice she ever received
(33:26) - The best advice she ever received
(39:32) - Guest contacts

Payback Time Podcast

Payback Time is a podcast for investors. The goal of this podcast is to help make investing approachable and easy to understand. We will interview beginner and experienced investors and ask them to share stories on how they got started, what challenges they faced, what mistakes they made, and what strategy works for them today. The overall objective is to provide you with a roadmap that helps you become a better investor.

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