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M A R E I
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Are You An Ender?
This term popped up again in videos from Bill Cook (this months speaker). Because I invested for 15 years and never got the term, I thought we should take a moment and explain what it means. Keep in mind that terms come and go based over time, but I really think they all mean about the same thing. Let’s start with some terms or acronyms you may have heard and work out way from there. BRRRR: Buy, Renovate, Rent, Refinance, Repeat. This was a term made popular by Bigger Pockets and its a fancy way of saying, acquire rental property for cash flow, get it cash flowing, get permanent financing on it, and then go buy another one. The goal of the BRRRR method over time is to build up your portfolio of cash flowing properties over time.
And F.I.R.E. stands for “Financial Independence, Retire Early.” The goal is to save and invest very aggressively—somewhere between 50–75% of your income—so you can retire sometime in your 30s or 40s. Using it in real estate, you are building up your portfolio of cash flowing rentals and at the same time working to pay off debt, so you can retire early.
To me, an Ender seems to be a person who has learned how to invest in real estate and create cash flows from different sources, maybe in BRRRR, but maybe also in other ways of acquiring rentals, or lending money, buying notes, or some other form of residual income. They put in the time and effort to get that cash flow coming in and with just a little management on their part, it keeps coming in. Then they can step back and enjoy life,“Do What Matters” as we heard from Coach Carson at last month’s MAREI Meeting. Yes, Coach Carson is an Ender.
But I was still not convinced I had it right, I reached out to Bill Cook, after all he’s where I first heard the term way back in 2015, to get his break down. Here’s what he shared:
Starter: less than 5 deals, just getting started and figuring things out.
Estate Builder: Realized that flipping and wholesaling are never-ending J-O-B-S. Estate Builders seek financial freedom. This occurs when your capital assets are working for you rather than you working for your capital assets.
Ender. An Ender has achieved his/her goal of financial freedom. Everything he/she needs financially is provided for in the guise of mailbox money: rents, notes, options, stocks, etc. It’s not to say Enders quit doing deals, far from it. It’s more of a case that they don’t have to do any more deals.
As my husband Don and I flip a lot of houses, it seems we are still in the Estate Building phase. We do have quite a few cash flow projects going in the form of notes and I also have affiliate programs online. But those will eventually run out as the notes get paid off and need to be replaced, or consumers of the affiliate product stop consuming. I would like to be an Ender in the next 3 to 5 years, that’s one of the reasons why I scheduled Bill Cook to join us while planning back at the end of 2019. Then we had Corona Virus and it seems that funding for investors, while not totally gone has become much harder and knowing just a few of Bill’s strategies is going to be vital to all of us in the next couple of years. So are you an ender? Do you want to be one? I do! Kim Tucker Co-Founder of MAREI
ARE YOU AN 'ENDER'? DO YOU WANT TO BE?
There are a lot of real estate terms you learn over the years, and I thought after 15 years I knew most of them. but back in 2015 when I went on a cruise, I kept hearing people talk about being an “Ender” and that was a totally new term to me.
