BiggerPockets Real Estate Podcast

Episode: Chad Carson: How to Retire with the Fewest Rentals Possible in 2026

Release Date: January 12, 2026
Host: Dave Meyer (with Brandon Turner)
Guest: Chad Carson ("Coach Carson")

Episode Overview

In this episode, Dave Meyer and Brandon Turner sit down with Chad Carson—author of The Small and Mighty Real Estate Investor—to discuss why building a smaller, thoughtfully chosen real estate portfolio can be the optimal path to financial freedom, even in the changing landscape of 2026. Chad shares actionable advice for both part-time and full-time investors on finding deals, negotiating, minimizing risk, and cultivating a sustainable, low-stress investing career that supports their desired lifestyle.

Key Discussion Points & Insights

1. The 2026 Real Estate Market: A Return to Fundamentals

• Shift to a More Balanced Market:

  • Chad and the hosts highlight that 2026 feels like a return to normalcy, away from the extremes where either buyers or sellers held all the power. (02:36)
  • “I feel more optimism in my own local market in the number of motivated sellers who are willing to play ball.” — Chad Carson [02:02]

• Delistings and Stale Inventory as Opportunities:

  • There is a record number of properties being delisted or sitting on the market, creating opportunities for investors willing to negotiate with motivated sellers.
  • “Those are people who listed the property, they didn't get the price they wanted … but some need cash and are willing to sell at a discount.” — Chad Carson [03:57]

2. Creating Deals vs. “Finding” Deals

• Deal-Making Mindset:

  • Success comes from creating deals rather than passively searching for bargains.
  • “You have to go create deals … you have to negotiate, you have to make offers.” — Chad Carson [07:39]

• Negotiation as a Superpower:

  • The ability to negotiate well—especially uncomfortable/low offers—remains a highly valuable skill.
  • “You can't be embarrassed making lower offers ... the realtor doesn't always know what the seller's going to do.” — Chad Carson [06:07]

• Multiple Negotiation Levers:

  • It’s not just about price—terms, timing, and creative structures (like seller financing or partnerships) can make a deal work for both sides.
  • “There are multiple levers that you can pull to design the deal.” — Brandon Turner [09:47]

3. Building a “Small and Mighty” Portfolio

• Rejecting the “Go Big” Mentality:

  • Chad’s philosophy emphasizes having the least number of properties necessary to meet your financial goals, rather than accumulating units for ego or status.
  • “It's about being a time billionaire, having the most time and not the most properties.” — Chad Carson [17:49]

• Lifestyle-First Investing:

  • The goal is flexibility and the freedom to enjoy life, not to be shackled to property management or constant growth.
  • “It's totally fine to have five properties or two properties if that’s enough.” — Chad Carson [17:49]

4. Investor Profiles and Recommended Strategies

A. The Part-Time (5 Hour/Week) Investor

• Strategy:
  • Focus on “boring” properties that are turnkey or need very light cosmetic work.
  • Avoid heavy rehabs and risky projects.
  • Be willing to put more money down (potentially 30-40%) to ensure stable cash flow, especially in current interest rate environments.
  • Prioritize good locations—even if returns look modest on paper.
• Key Insight:
  • “If you're going to get in this business, the number one thing you want to take care of is staying in the business as long as you can.” — Chad Carson [27:31]

B. The Full-Time (10+ Hours/Week) or Entrepreneurial Investor

• Strategy:
  • Can pursue deeper value-add deals (fixer-uppers, major rehabs, ADU additions, off-market direct mail).
  • May deploy “BRRRR” strategies to recycle capital.
  • Higher risk, but with greater upside potential.
• Key Advice:
  • “Those (big value-add) deals are out there … but they're going to start off really ugly.” — Chad Carson [35:57]

5. The Three Phases of an Investor’s Journey

• Starter: Just getting your first deals; focus on learning and survival.

• Builder: Actively leveraging and compounding; maximizing growth, employing more aggressive strategies.

• Harvester: Focused on maximizing cash flow, reducing leverage, simplifying the portfolio, and reclaiming time.

  • Paying down debt or selectively selling rather than always reinvesting.
  • “Instead of keeping my portfolio at 70% debt to value, now we’re more like 15 or 20% … I’ve freed up $1200 or $1500 per month with zero risk.” — Chad Carson [38:43]

• Key Takeaway:

  • “Where you fall within this framework is so important to your decision making … It’s not that it’s bad advice, but there are just so many different things you can do in real estate.” — Brandon Turner [41:49]

6. Measuring Success: Incremental Wins Over Time

• Long-Term Compounding:
  • Financial freedom isn’t binary; each property brings incremental improvement.
  • “Every step, every property you acquire is an incremental improvement. And that’s awesome.” — Dave Meyer [22:59]
• Focus on Survival:
  • Emphasizes the importance of avoiding negative cash flow (“alligators”) and staying power over flashy returns.
• Boring Real Estate as the Path to Freedom:
  • “You need to keep it boring. Don’t try to get your excitement from real estate.” — Chad Carson [23:07]

Notable Quotes & Memorable Moments

• On Creating Deals:
  "It’s more about being a dealmaker than it is just waiting on the market to tell you what to do."
  — Chad Carson [08:57]

• On Negotiating in Today’s Market:
  "Learn how to negotiate. There’s going to be way more motivated sellers … you couldn’t even practice this two or three years ago. This is a new opportunity for you."
  — Brandon Turner [12:56]

• On Lifestyle-Focused Investing:
  "To me it’s about being a time billionaire and having the most time and not having the most properties."
  — Chad Carson [17:49]

• On Playing Defense:
  “You have to be conservative while also moving forward and growing ... I want to have wealth and cash flow over the long run, forever—not just this fly-by-night, get really big, really fast, and then crash and burn kind of thing.”
  — Chad Carson [20:21]

• On Investor Comparison:
  “The strongest investors know themselves … to acknowledge that, you know what, I have transitioned where I have enough wealth, it’s time to take some risk off the table.”
  — Chad Carson [41:58]

• On Long-Term Perspective:
  “The more long-term thinking you are, the more long-term investor you are, it’s just—it’s a calming effect. You don’t have to worry about the ups and downs as much.”
  — Chad Carson [43:19]

Recommended Action Steps for Listeners

• Decide Your Investor Type:
  Identify if you’re a “5-hour” (part-time) or “full-time/entrepreneurial” investor and select strategies accordingly.

• Embrace Negotiation:
  Sharpen negotiation skills and get comfortable making bold offers; it’s the highest-paid skill in real estate today.

• Prioritize Sustainability:
  Focus first on staying power—don’t over-leverage, and be conservative with financing.

• Choose Quality Over Quantity:
  Invest in properties you’d want to own for 10+ years, in strong locations, even if it means putting more money down.

• Play Your Phase:
  Apply the appropriate Starter, Builder, or Harvester mindset to your decisions—avoid FOMO and “advice overload.”

Timestamps for Critical Segments

• State of the Market / 2026 Opportunities: 02:02 – 05:14
• Deal Creation & Negotiation Skills: 06:07 – 12:55
• Small and Mighty Philosophy: 17:49 – 22:23
• Investor Profile Strategies (5hr vs. Full-Time): 24:22 – 32:05
• Harvester Phase & Liquidity/De-leveraging: 38:43 – 41:16
• Final Advice & Mindset for 2026: 43:19 – 44:21

Episode Tone & Style

• Conversational, Candid, and Practical:
  The hosts and Chad openly share their own mistakes, pivots, and evolving philosophies.
• Encouraging but Grounded:
  Advice is optimistic about opportunities in 2026, but emphasizes realism, risk management, and patience.

This summary highlights all key tactics, concepts, and philosophies discussed in the episode, offering both a roadmap and a mindset reset for anyone seeking financial freedom through real estate—no matter the size of their portfolio.