Build Wealth w/ Real Estate: A 15-Yr Plan

Wealth Building Wednesdays
Keller Williams Realty Bayou Partners
Clint C. Galliano, REALTOR®

In the realm of wealth building, real estate stands out as a formidable avenue for creating long-term assets and generating passive income. A strategy that has been gaining traction among savvy investors was recently highlighted on the Bigger Pockets real estate podcast, offering a practical approach to real estate investment that eschews the allure of quick gains in favor of a more sustainable, long-term plan.

The 15-Year Mortgage Strategy

The essence of this strategy lies in the acquisition of rental properties financed through 15-year mortgages. The key here is not immediate cash flow but a long-term vision. The initial goal isn’t to secure properties that will rake in substantial profits from the get-go but to find homes that, at the very least, can cover their own expenses through rental income. Ideally, these properties should also allow for a small buffer to be set aside for maintenance and unexpected costs.

Year-by-Year Breakdown:

  • Year 1: Purchase your first rental property with a 15-year mortgage. Ensure the rent covers the mortgage and expenses, with a little extra for savings.
  • Year 2 and Onwards: Repeat the process, acquiring an additional property each year under similar financial arrangements.

The Long-Term Payoff

After 15 years, the mortgage on your first property will be fully paid off. This is where the strategy begins to reveal its true potential. The income from this property, no longer siphoned off to pay a mortgage, becomes pure cash flow or can be leveraged through refinancing to extract cash tax-free (note: always consult with a tax professional for personalized advice). This process is then repeated each subsequent year with the next property in line, creating a continuous stream of income.

The Perpetual Money Machine

This approach effectively creates a perpetual money machine. While it does require active management of the properties or the employment of a property manager, the financial rewards can be substantial. It’s a pathway to wealth that, in comparison to traditional career trajectories, offers the possibility of financial independence in a relatively shorter timeframe.

A Sustainable Approach to Wealth

While a 15-year commitment might seem daunting, it’s a blink in the grand scheme of a working life, which often spans 30 to 40 years or more. This real estate investment strategy offers a viable alternative to the traditional retirement plan, potentially allowing for an earlier and more financially secure retirement.

This strategy underscores the importance of patience, planning, and a willingness to look beyond immediate gains for long-term prosperity. Real estate investment, when approached with diligence and foresight, can indeed pave the way to financial freedom and a secure future.

Engage and Learn More

For those intrigued by this wealth-building strategy or seeking further insights into real estate investment, engaging with a knowledgeable professional can be invaluable. Whether through direct communication or following expert-led content, there’s a wealth of knowledge to be tapped into.

Click Here to see Clint talk about this strategy:

Clint C. Galliano, REALTOR®
Licensed by the Louisiana Real Estate Commission
Keller Williams Realty Bayou Partners
307 Bayou Gardens Blvd
Houma, La 70364
Each Office is Independently Owned & Operated

Clint C. Galliano, a native of Lafourche Parish, has lived in the Houma-Thibodaux area for over 36 years and is currently a REALTOR® with Keller Williams Realty Bayou Partners in Houma, La. He has been involved with real estate investing since 2017 and hosts the local Real Estate Investment Association. Real Estate is his passion. Clint previously worked in drilling fluids and drilling fluids automation for 28 years. He lives in Bayou Blue with his wife and two daughters.

Business – Open For Business as Clint C. Galliano, REALTOR®

As I have alluded to in the last few articles I have written, I have started my new career as a real estate salesperson licensed in the state of Louisiana.

My wife and I made the decision that since I loved real estate so much, why not jump in full time? So, I attended an online real estate school during the pandemic lockdown, then passed the test slightly less than a month after starting.

This new career is also a little out of my comfort zone because I am reaching out to people proactively to talk. Not something I have done on a regular basis outside of a close circle of friends. Time to grow. Time to expand my capabilities.

I am, little by little, becoming a more public person. I have doubled my Facebook friends list and continue to add people. I am making videos and live streams, (though not very good ones – LOL), for open houses and putting them out there.

I am enjoying this!

Why Keller Williams?

A few people have asked me why I chose the local Keller Williams team. I have a few reasons. The main one is that I am a fan of Gary Keller. I started reading his books when I began to educate myself on real estate investing. I like his approach to things. A lot of it dovetails with my own philosophy. I also like the way the company has and is adapt(ed/ing) to the changing world with the use of technology. KW also has some of the best training out there.

Then there is the family aspect of things. Family is one of the guiding principles of the company. Everyone here is very supportive and will do just about anything to help you.

And, on top of that, the company has a profit-sharing structure that is designed to ensure the long-term life of the company in addition to providing you and your beneficiaries with profit-sharing income.

So if you are interested in joining the Keller Williams family, get in contact with me here.

Clint C. Galliano, REALTOR®

I am working under Keller Williams Realty Bayou Partners, an independently owned and operated office serving the Houma, Thibodaux, Terrebonne Parish, Lafourche Parish, Assumption Parish, and St. Mary Parish areas.

If you are interested in buying in one of these areas, I would love to help you find the perfect home.

Go here to my website to search for properties. Or, if you are on a mobile device, you can also download my real estate app here.

  • If you are interested in selling your home or property, allow me to get it sold for you.
  • If you are an investor and want to acquire properties in the area, let me help you find the investment deals that fit your criteria.
  • If you currently manage your own rental property, but want someone else to take that on, give me a call. We can go over how we can help make your life easier.

And, as always, let me know what you think in the comments. Ask questions, tell your story.

If you like my posts, please share them with others and subscribe to this blog.

REI – How do Outsource Your Property Search

I hope you are all well during these crazy times.

We are still doing fine and have been able to go back to the gym, so that is a nice expansion on our workout routine from the lockdown.

I have completed my 90 Hour Real Estate Salesperson training course and will be taking the national and state exams this week. #WishMeLuck

Today I wanted to talk about outsourcing. As a real estate investor focused on expanding, you continuously search for properties. There are numerous ways to accomplish that on your own, whether it is “Driving for Dollars”, (drive around looking for vacant properties), searching the MLS, tax sales, or any of the other numerous ways to find properties.

There is an issue with all of these methodologies in that if you are doing them, what aren’t you doing to work on your business?

So, why not outsource your search for properties?

Put in a little effort to document your criteria in a Property Search One Sheet and share it with anyone and everyone. This allows other people to identify properties that meet your criteria and bring them to you, thereby increasing the input into your funnel.

The people you share it with can be family, friends, acquaintances, and even property wholesalers.

Here is something I put together as my Property Search One Sheet.

If you are an investor, let me know how your business is going in the comments or you can contact me directly here.

And, as always, let me know what you think in the comments. Ask questions, tell your story.

If you like my posts, please share them with others and subscribe to this blog.

Personal – More Change – Opportunity Awaits!

The oil and gas industry is in turmoil and service companies, in particular, are reducing their footprint in an attempt to weather the double-pronged attack of oil price wars and pandemic lockdowns.

Until yesterday, I worked for one of those companies, as some of you long-time readers may know.

I received a phone call from my manager, and HR, telling me that due to the current environment, my position was being eliminated.

It is not a bad thing. I only took the position back in January because I was unsure of what I wanted to do when my regional position was eliminated. I figured that they went through a lot of effort to keep me in the company and I didn’t have an immediate alternative plan, so I worked the job in Houston.

Then the pandemic hit and everyone was on lockdown. Luckily, I was able to continue working, from home.

BUT, during this time, I realized that I did not want to go back to Houston for work. We decided that I would continue working, as long as I could do it from home, and as soon as I was told that I needed to show up in Houston, I would resign.

It seems things have worked out for the best, because instead of just resigning, I am leaving with an early retirement severance package!

Because of this, I am now free to explore other opportunities…One will be to continue to be involved in real estate, but to a larger degree. I will continue to invest, but now I am pursuing a realtor’s license.

I will also be available to consult on any innovation projects that might come my way. This will allow me to flex my mental muscle “coming up with cool shit” as a colleague is fond of saying.

I will also look for small businesses that the owners are preparing to retire with no one to take them over. I will only pursue them if they are profitable. It should be easy to make a good deal on something like that when the options are sell at a discount or shut it down.

Here’s to the future!

REI – Private Lending with Keith Baker

I did another live stream for my local REIA group and wanted to share it here. The guest is Keith Baker, host of the Private Lender Podcast.

In this video, Keith Baker, Host of The Private Lender Podcast, talks to us about how he got started in private lending, things to watch out for when lending, and his outlook for the future.

Things you will learn in this video:

  • How Keith got into private lending
  • How private lending works
  • Difference between Hard Money Lenders, Private Lenders, and Banks
  • How Keith screens borrowers
  • Keith’s “Trademarked” 3Ps Strategy
  • Why it is good to say no sometimes
  • Why you should always follow your processes
  • What a self-directed custodian is

Resources mentioned in this episode:

You can contact Keith Baker at the following:

Keith Baker

Host, The Private Lender Podcast

The Private Lender Podcast

713-306-4478 cell email

He’d love to connect with you.

Shareable Quotes:

“You’re the CEO of your money, ACT LIKE IT!”

Keith Baker

“People get funny when they talk about their money”

Keith Baker

And, as always, let me know what you think in the comments. Ask questions, tell your story.

If you like my posts, please share them with others and subscribe to this blog.

REI – Mortgage Rates, FED Prime Rate Cuts, and SBA Disaster Relief Loans Title

Mortgage Rate Trends in US

How are you doing? How are you handling the mis-named “social distancing”? We are going a bit stir-crazy. I am probably more used to the isolation and not being able to go anywhere from when I worked offshore in the oil and gas industry. This is a lot nicer than sitting on a floating rig that you have to fly for one to two hours in a helicopter to reach.

Feel free to reach out if you need to talk to someone. It actually helps with the isolation.

Now, on to the content…

Due to the statewide Stay at Home order here in Louisiana, our local REIA are not able to get together for our monthly meeting. So, I’ve decided to move it online, replacing it with a livestream. Since it covered topics that I think are relevant to a larger audience, I’ve decided to share it with this community, too.

In this video, Tim Blanchard, of Allegiance Home Lending, discusses how mortgage rates work, what the impact is from the Q1 2020 FED Interest Rates on mortgages and regular loans, and gives advice on utilizing SBA Coronavirus relief options.

Things you will learn in this video:

  • What affects mortgage rates.
  • What mortgage rates are based on.
  • What drives a change in mortgage rates.
  • How Lenders’ Credit Score Criteria have changed in this environment.
  • SBA Coronavirus relief opportunities for businesses.
  • SBA Streamlined Application Process
  • SBA Economic Disaster Relief Loan
  • Covers Lost Rent

Resources mentioned in this video:

You can contact Tim Blanchard at the following:

Tim J. Blanchard

Mortgage Advisor

Nmls #167432

Allegiance Home Lending, LLC

430 Corporate Dr Suite C

Houma, LA  70360

985-868-5950 office

985-790-5660 cell email

He’d love to connect with you.

If you like this type of content, let me know by leaving a comment.

And, as always, let me know what you think in the comments.

Ask questions, tell your story. If you like my posts, please share them with others and subscribe to this blog.

REI: Good Business

Today I’d like to pass on something I have shared in our local REIA group with regards to working with your tenants during this time of crisis, especially if they have recently become unemployed or furloughed.


If you have rentals and have not done so already, it might be a good idea to reach out to your tenants and check in with them. Due to various business shut-downs, lock-down, and stay-at-home measures, they may have become unemployed. Depending on their financial situation, it may make it difficult for them to pay their rent.

Below is a copy of what we sent out to tenants:

Hi, Tenant

How are you? We hope you and your family are staying healthy and getting by at the moment. While I don’t know exactly how the coronavirus situation has impacted you, I’m sure it has not been easy. Personally, my family and I are going a bit stir-crazy, but are taking the down time to ride our bikes and totally redo our landscaping, (who needs the gym, right?)

I imagine you are spending more time more time at home than usual, given the current circumstances. Maintenance people are tough to schedule right now due to safety concerns, but please do not hesitate to reach out if there are any maintenance issues so we can make your your extended time at home more comfortable.

If you have any other needs or issues, again, do not hesitate to contact us.Below is a link to a list of resources that may be helpful during this trying time:

Louisiana Family Resources


Clint C. GallianoJJRA, LLC

Since we currently cannot conduct eviction proceedings, (and to be honest, this is not the time to be evicting people unless you were already planning or in the process, more on that in a bit), I think it would be best to work with your tenant to see what they can pay, and accept that with the understanding that the balance is still owed. You can work out a repayment schedule over, say, 10 months or so, starting in May. This gives the current craziness time to settle down and should make the payments small enough so that it does not wreck their budget. This assumes your tenant is staying with you long-term.

Additionally, you should get this repayment agreement written up as an addendum to your lease. This will provide a paper trail of it.

***DISCLAIMER*** I am not an attorney and I do not play one on the internet. Please consult your attorney for proper legal phrasing.

Now, if you were already in the process of evicting someone or preparing to, one option you can try is “Cash for Keys”. This is obviously not without cost, but could possibly give you a quicker resolution than waiting to evict them. The way cash for keys works is that you offer the tenant you want to leave a lumps sum dollar value to vacate the property, leaving it in undamaged clean condition, within a certain number of days. You frame it to them as something to help them find a home that better suits them. And, unless there is already a lot of damage to the property, give them back their full deposit to expedite the process. This will help to keep them from damaging the property before leaving.

How are y’all real estate businesses doing?

Personal Improvement – Change Is Coming…

Merry Christmas! Happy Holidays! Happy Solstice! Happy Hanukkah! Joyous Kwanzaa! Yuletide Greetings! Joyeux Noël! Feliz Navidad! Season’s Greetings! Happy New Year! Joy! Celebrate! Be Merry! And most of all, wishing all of you who read this a new year full of peace and joy!

I’m sitting here between Christmas and New Year’s Day contemplating the future. To paraphrase Game of Thrones, “Change is Coming”.

As many of you know, we decided to start investing in real estate as a buffer to the ups and downs of my chosen industry, Oil and Gas Exploration. I was able to make it through some of those ups and downs in the past, maybe by luck, or because what I was working on was important. At one point, I did take a demotion and worked in the field (offshore, on the rigs, for about a year, but was able to move out of that role and on to greater things.

Which brings us to current times. Things have dipped again.

I usually take the last two to three weeks of the year off since I usually don’t use all of my vacation throughout the year. I was sitting at home and my supervisor called and asked if I was at the office. Since I wasn’t, he asked if I could come in. This told me that something was up because his office is over 100 miles away and if he is at my office, then it must be my turn.

And it was, but with a twist. I was offered a choice between an early retirement package or a rotational position working in Houston.

My darling wife and I contemplated the choices for a couple of days. Ultimately, we decided that it would be best to take the position in Houston. While we would be OK with me not working for a while, ultimately, it was our need of medical insurance that swayed our decision. Speaking of medical insurance, my next article will cover my experience in trying to get a quote for it and the fraud potential inherent in the Louisiana Medicaid Program.

Working a rotational job in Houston would mean finding a place to stay when working and time away from the family, but it also would mean that for two weeks out of every four, I would be off of work and free to do as I please.

This should allow for catching up on projects around the house and more opportunity to generate passive income.

The down side is that I will not be in town for some of the Bayou Real Estate Investor Networking meetings. I will continue to organize them, but will have to rely on other members to host when I cannot attend.

Additionally, if any of you live in or around North Houston / Humble / Kingwood and know of decent rentals at a good price, please contact me!

And, as always, let me know what you think in the comments. Ask questions, tell your story.

If you like my posts, please share them with others and subscribe to this blog.

Personal Finance – Why You Should Regularly Review Your Insurance

Actual Numbers. Blanks are where numbers were not needed.

Today’s topic is about reviewing your insurance coverages and ensuring that you are properly covered at the best rate. It also touches on customer service and some things that caused me to look for a change.

Isn’t it crazy that it is December already? The end of the year, the end of the decade. Here at the Galliano household we are busy buying Christmas gifts for the family and coordinating our schedules for band concerts, choir concerts, and a birthday.

It is also about paying year-end bills…we have property taxes on our rentals, but that is covered easily by the rent. We also have property taxes on our residence and another property. We can’t do a whole lot about what we are paying on those taxes.

Then there is insurance. Since we paid off our mortgage years ago, we have to purchase homeowners’ insurance outright. AND, since we originally moved into our house right before Christmas, our insurance comes due at Christmas time.

On top of that, our auto insurance is due on 02-Jan-2019. So that totals up to a lot of bills at the end of the year.

The current (as of this writing) agency we use has been providing me with insurance for around 20 years. But I am not happy with them. Over the last four to five years, my “agent of record” has changed at least four times. And the only way I find out about it is if I call with a question. On top of that, when the renewal notices came in this year, they totaled to a little over $6000! I asked for a quote at a lower home value, because the company we are covered with has an auto-escalate policy and increases the coverage value every year, thus increasing the premium. The renewal value was for $291,000. My home is probably worth about $250,000 on a good day.

I also asked for an increased deductible, increasing the deductible from $1000 to $5000. They couldn’t do that. They could only do two percent. So I asked the agent to quote me for coverage on a more accurate home value. Two to three days later, I get a quote for a home value of $232,000. Yes, it was $1000 or so cheaper than the renewal quote, but it was not for the home value that I requested. Because of this, my search for a new provider began.

One of my fraternity brothers offered to give us quotes. In going through that process, we were able to get the coverage we wanted at much lower rates. Between the home and auto coverage, it only cost us $3,744, for a savings of $2,347 between the two. That is almost $200 per month of savings! That will cover a trip to Disneyworld for Mardi Gras! LOL

Tips for Insurance

Below are some tips for getting the most for the least when dealing with insurance:

  • Review your policies annually to ensure accurate coverage – Make sure you aren’t paying for a home value above the replacement cost of your home
  • Try to pay your policy in a lump sum – Some providers will give you a discount for paying in full
  • It pays to shop prices every once in a while
  • Ensure you have a good relationship with your agent – Find an agency that provides you with a single point of contact and will notify you of any changes
  • Your home value is not your home replacement value
  • Depending on the age of your vehicle, you may not need comprehensive and collision insurance
  • Be in a financial position to be able to pay your policies lump sum

And, as always, let me know what you think in the comments. Ask questions, tell your story.

If you like my articles, please share them with others and subscribe to this site.

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