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Jun 15, 2022

Calvin Chin is real estate coach who is focused on helping people create passive income so that they can create passive impact. Our mission in life is to create abundance in people not be focused on being rich but being wealthy in their time and energy. Calvin talks about his experience losing money in the AirBNB Market and how he learned from his mistakes. Listen in as he recommends his listeners who are interested in the AirBNB market take the same approach to focus on market with clear rules and partnerships that will help them avoid risks!



[00:01 - 03:42] Opening Segment

  • Calvin started from the Bay area and started investing in real estate while he was in the tech industry
  • He found that the corporate ladder was not fulfilling and decided to invest in real estate instead.
    • Calvin retired from their tech job to become a real estate investor full time
    • He and his partner were able to reach income replacement and then decided to leave their tech job because they wanted to start the new chapter of their life
  •  He has since invested in multifamily properties, Airbnb spaces, and long distance real estate.

 

[03:42 - 12:13] How to Hack Your Way to Financial Freedom

  • Being the CEO of your life
  • Calvin discusses how they used a roommate hack to get started in real estate investing and how it was a different experience than what they expected
  • Calvin and his partner found a flipper in San Francisco into investing resulted in a loss of 100,000 dollars
  • After learning from the experience, the couple decided to focus on avoiding future mistakes
    • Their philosophy changes and they learned from their mistakes
    • Gaining momentum and gaining confidence

 

[12:14 - 18:30] Utilizing AirBNB for success

  • Calvin shares that their journey was surrounding themselves with like-minded people that are doing real estate
  • He started out buying single family properties, then scaled up to buying multi family properties
  • Calvin discusses how he uses Airbnb to generate additional income
    • After realizing the potential of Airbnb, the team bought a military base and turned it into an Airbnb property that is now generating $2,000 a month
    • The team pays 15% to 30% of their gross revenue to their property manager
  • Getting the right people that fit the mold and not self-manage
    •  Calvin got her sister involved in the business because she is genuinely interested in learning about the business

 

[18:31 - 24:22] Partnership is the Key in Real Estate

  • The biggest risk for Airbnb is that the rules could change and the company could be shut down;
    • Airbnb has a backup plan in place to make sure it remains profitable even if this happens;
  • Calvin discusses the different regulations for each state can be minimal or tougher depending on the state the property is located
  • Partnership is key in real estate, as it is a team sport.
  • He shares an important lesson that he learned in real estate
    • He loves to outsource
    • He loves to leverage people if they love doing these things

 

[24:22 - 27:22] Creating Passive Income And Have A Purpose in Life

  • Calvin shares “Golden Handcuffs Security
    • He stresses doing monthly checks and being comfortable with the uncomfortable
  • He shares their story of how they went from focusing on real estate to having a purpose in life
  • He share how they started an organization called “Zen Coach University” which is focused on helping people create passive income and have a lasting impact in their community.

 

[27:23 - 29:14] Closing Segment

  • Calvin shares how he and his students achieve financial freedom
  • Calvin offers his coaching program on his website: Zen Coach University
  • Calvin shares where you can get in contact with him (links below)



Quote/s:

 

“I want to control the things I love doing and my superpower and I love to outsource and leverage other people if they love doing these other things.” – Calvin Chi



You can connect with Calvin through Website, LinkedIn, and Instagram



WANT TO LEARN MORE?

 

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Or send me an email at sujata@luxe-cap.com

 

Visit my website www.luxe-cap.com or my YouTube channel

 

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