The Real Estate Way to Wealth and Freedom

Anything in this life that’s worthwhile doing, will likely take a a lot of work and effort. But it’s this exact mindset that keeps us from pursing those worthwhile things. Maybe you want to travel the world, but you only know one language, don’t have a clue about international travel, and can barely afford a…

Scott Hollister is a former teacher in a small rural town in Connecticut. His real estate interests started after reading a few books on Real Estate Investing.  Scott graduated with student debt and didn’t like the thought of paying his debt back over 20 years.He knew he could overcome and offset his “bad” decision to borrow money for college by educating himself and sticking to sound investing principles. Since leaving teaching, Investing in Real Estate has become his full time passion.

We, as individuals, each have our own ideas of what success means to us. We look into the future and imagine ourselves happy, healthy, wealthy, and on top of the world. We like to envision what our lives will be like when we have no worries, stress, or responsibilities. If I asked you to picture…

Mark Willis, is a CERTIFIED FINANCIAL PLANNER™, a #1 Best Selling Author and the owner of Lake Growth Financial Services, a financial firm in Chicago, Illinois. Over the years, he has helped hundreds of his clients take back control of their financial future and build their businesses with sophisticated, tax-efficient financial solutions. He specializes in building custom-tailored financial strategies that are unknown to typical stock-jockeys, attorneys, or other financial gurus. As co-host of the Not Your Average Financial Podcast, he shares some of his strategies for investing in real estate, saving and paying for college without going broke, and creating an income in retirement you can’t outlive. Mark works with people who want to grow their wealth in ways that are safe and predictable, become their own source of financing, and create tax-free income in retirement. Key Points The chosen asset asset class of the wealthy - real estate Diversifying vs. non-correlated assets 3 Ways people build wealth - real estate, business ownership, & paper assets The safe withdrawal rate from your 401(k) or IRA is only 2.5% (with a 90% success rate) The shortcomings of real estate investing Being your own bank Whole life insurance - how it can help you with financial transactions Lightning Questions What was your biggest hurdle getting started in real estate investing, and how did you overcome it? Mark's own mindset got in his way - understanding how money works. Do you have a personal habit that contributes to your success? Choose health every day. Do you have an online resource that you find valuable? Audible What book would you recommend to the listeners and why? The Bank of Yourself Revolution by Yellen If you were to give advice to your 20 year old self to get started in real estate investing, what would it be? Learn to think like a banker. Resources Visit Audible for a free trail and free audio book download! Not Your Average Financial Podcast LakeGrowth/Schedule (Be sure to mention The Real Estate Way to Wealth and Freedom for a free book!)

Getting started investing in real estate can be a mental challenge for some people. There are people who know they want to invest in real estate, but get caught up in the weeds looking at only one page of the book. So with that, today we're going to paint a full picture of how real estate investing can benefit you, and provide you with some points to focus on.

Welcome to episode 95! To date, we've had so many great guests on the podcast from big time investors like Rod Khleif, Vinney Chopra, Ivan Barratt, Joe Fairless, & Brian Burke to thought leaders like Keith Weinhold, Damion Lupo, and Ben Leybovich, young guns Lane Kawaoka and BiggerPockets Vice President, Scott Trench, to professional capital raisers, Rich Dad Advisor, Darren Weeks, and David Thompson. Each of these guests have shared with us their journey, background, and invaluable lessons they've learned. There are some common qualities, actions, advice, and paths we've learned from every one of these real estate professionals. We're going to highlight some of these and break then down into a step by step guide to get you started investing in real estate, and grow your portfolio.

No matter how much money one has, at some point they will run out of their own money to invest in real estate. It happens to everyone, both big time investors, and first time house hackers. The difference in those who continue to grow their real estate empire and those who don't or can't, is the ability to execute creative financing or use other people's money by raising capital.

Edna Keep, a former financial adviser, has built a real estate portfolio to over 437 doors with a value of $47 million over the past nine years. All except the first two properties were bought with the help of other people’s money. Edna, along with her husband, Warren, an own 14 doors personally and the rest with joint venture partners. Most of these partners are passive investors looking for a great rate of return without being actively involved in generating it.

Life if full of choices. There are countless paths you can take. There are even many different paths you can take that will lead to the same destination. As with anything else, life is a balance of paths. When taking on a new challenge, you are faced with what I like to call the Learn-Do…

Clayton Morris is a former FOX News Anchor who left the #1 cable news show in the world after achieving financial freedom through real estate investing. He now devotes himself to helping others buy their first rental property, build passive income, and achieve financial freedom through his turnkey rental real estate company, Morris Invest. After some epic failures he’s learned how to build a meaningful life, and he shares these lessons on his top-rated podcast, Investing in Real Estate with Clayton Morris. At age 13, Clayton saw his dad lose his job. Ever since then he had a fear about money, and he always knew there had to be a more entrepreneurial way of creating wealth. He got into real estate investing to secure a future for his family so they didn’t have to go through the same financial pain as he did growing up. After years of success building up an enormous amount of passive income through real estate investing, Clayton started Morris Invest because he realized his passion is in helping first time real estate investors learn they don’t have to just work for a paycheck, and they don’t need $1 million to achieve financial freedom. Key Points How to calculate your Freedom Number Going from a high profile job as a cable network news anchor, to a full time real estate investor Be, Do, & Have process Understand your "why" Money, people, and a deal - you only need 2 of these to get started Lightning Questions What was your biggest hurdle getting started in real estate investing, and how did you overcome it? Lack of education on where to start. Do you have a personal habit that contributes to your success? Clayton journals and meditates every morning. Do you have an online resource that you find valuable? Slack.com What book would you recommend to the listeners and why? The Four Spiritual Laws of Prosperity by Edwene Gaines If you were to give advice to your 20 year old self to get started in real estate investing, what would it be? Block out all distractions. Buy and hold real estate is the number one way to build wealth. Resources Visit Audible for a free trail and free audio book download! Morris Invest

Success doesn't just happen. There is rarely such thing as an overnight success. More often than not, success is the result of many many small habits over a long period of time. The saying goes "How do you eat an elephant? One bite at a time.". There's a lot of noise out there today about flip this, flop that, crypto this, etc. Many online marketers would have you believe buying their system will guarantee you immediate success. You know the type of people I'm talking about, those who come across your news feed with luxury cars, beautiful people, and high rise penthouses. They make it seem like it's just one little step you must take in order to achieve success like they have. And let me spoil something for you - they all have some little secret they would love to share with you... in exchange for your credit card number. This is not the path to success. In fact, I'll prove it to you. Think of someone who you consider successful and look up to. I bet this person has a skill they are very good at. Perhaps that person is a great computer programmer and built a business that solves peoples problems. Or maybe this person is a brilliant networker and connects people with solutions. Maybe this person is a mechanical engineer and has hundreds of patents on alternative energy devices. Whoever this successful person looks like to you, chances are they have worked hard over a long period of time to get where they are. Think of some of the richest business men and women here in the U.S. - Warren Buffet, Bill Gates, Jeff Bezos, Sam Zell, and Abigail Johnson, just to name a few. These people have all created, built, and grown businesses from an early age. They didn't just magically fall into success overnight. So what will success look like for you? Whether you recognize it or not, your actions every single day will determine your success years down the line. What you do now, has a huge impact on what you do tomorrow, and the next day, and the next, and so on and so on. This is just one of the many reasons it's important to have goals. Your goals will keep you on track and make sure you're progressing in the direction you want. But, a goal without action is just a dream. The action is the most important part of the recipe. You must take massive action to achieve massive results. There are many people who advocate for daily habits, morning routines, and daily goal setting, from Grant Cardone to Hal Elrod, these people have habits they have developed over their lifetime that have led them to where they are today. So how can you start making success a habit? Follow these four steps: Identify your reasons why. What drives you? What motivates you? What gets you out of bed? Set goals that you think you can't reach. Huge goals. Your goals should be so big that they scare you. Write them down every single day. Yes, every day. You want these to be at the front of you mind at all times. Not just every January for your new year resolution. Develop a plan to reach those goals. Do something every single day that gets you closer to your goals. Have fun. Don't forget, life is a journey. Half the fun of it is the chase. Live for today, but don't forget tomorrow. I hope with this, you're on your way to success as you define it!

Joseph is a multifamily investments specialist, leading group acquisitions of over $15MM in real estate and providing asset management services to a portfolio of 253 units and growing. Joseph is a former lieutenant in the Israeli Defense Forces (IDF) and over 17 years of leadership experience in the software industry, 12 of which working for…

Determining value of real estate is both a science and an art. From the initial analysis through more in depth due diligence, real estate investors are constantly determining the value of properties and searching for properties that are undervalued.

Dr. Matt Motil is a real estate investor and agent. He's had the pleasure of working with hundreds of investors from all over the world and helped them to grow massive wealth and passive income through remote real estate investments. Dr. Matt leads a retail real estate team working with buyers and sellers servicing all 50 states. When he has the spare time, he teaches college courses as an adjunct professor at a handful of colleges and universities. Before real estate, Dr. Matt spent 17 years as a project manager and licensed engineer in the construction industry building bridges, highways and industrial plants throughout the United States. Through research and firsthand experiences, he's leveraged his passions to become an author, mentor, and teacher, and he helps people all over the world unlock their passions to achieve their highest potential. From getting fired, to teaching others how to fire their boss, Dr. Matt brings a high level of energy and raw personality with his approach to financial freedom. Key Points From getting fired, to teaching people fire their boss Transitioning from an engineering career to a full-time real estate investor An overnight success, years in the making A formal degree in business, with no idea how to start a business How to break out of the middle class Holding onto mistakes, because you spent a lot of time making them Lightning Questions What was your biggest hurdle getting started in real estate investing, and how did you overcome it? Matt's biggest hurdle was himself. By being consistent, that voice eventually quiets down. Do you have a personal habit that contributes to your success? Morning routine Do you have an online resource that you find valuable? BiggerPockets and podcasts, both real estate and business What book would you recommend to the listeners and why? Rich Dad Poor Dad by Robert Kiyosaki Man on Fire by Matt Motil If you were to give advice to your 20 year old self to get started in real estate investing, what would it be? Start now. It's going to work out. Fail faster. Resources Man on Fire by Matt Motil DrMattMotil.com

People go their whole lives deferring income, experiences, and happiness, in hopes of cashing in on those things "one day". They forego living a quality life in hope of one day living that life they dream of. But why? Why do people put all of their eggs in a basket 30 years into the future? Is it just because this is "normal"? Here are some common life deferral mindsets and actions: Invest only for appreciation far into the future Save, save, save only to build a nest egg for retirement Forego life experiences - travelling, learning new things, picking up new hobbies, & spending time with family, - in hopes of doing those things some day. Spend all of your energy shrinking, rather than growing The Dalai Lama was asked what surprises him the most in a recent interview, he offered this insightful response: “Man. Because he sacrifices his health in order to make money. Then he sacrifices money to recuperate his health. And then he is so anxious about the future that he does not enjoy the present; the result being that he does not live in the present or the future; he lives as if he is never going to die, and then dies having never really lived.” Another common example of life deferral is investing in a government qualified retirement account, like a 401(k), Roth IRA, or 403(b) retirement plan. One restriction with these types of plans is you are not able to access your money until age 59 1/2 or later. You are deferring income now, in hopes of reaping the benefits in the future. But why defer income now? What if there was a way to invest now, realize the benefits now, and still build wealth in the future? Investing in income producing real estate is a great way to both build wealth and achieve financial freedom long before your retirement years. The income producing part of this is vital. It's a huge differentiator between investing in real estate and government qualified retirement plans. The two key pieces here are wealth building and financial freedom. Let's break these down and understand why each is equally important. Building wealth for the future is what people who invest in retirement accounts are doing. This wealth will be part of your legacy you leave behind to the things, people, and causes you value. Building wealth will allow you to impact the world in the ways you want. Achieving financial freedom is equally important, but much less common. Simply put, financial freedom gives you the ability to do what you want, when you want, where you want. Achieving financial freedom from passive income, will allow you to retire from an earned income, and now do whatever it is you want. When you combine financial freedom and wealth building, you won't have to defer experiences into your retirement years when you are not as able to do the things you want. Now just because tomorrow isn't guaranteed, I don't recommend putting your life savings on black at the roulette table. By understanding that your time is precious, you'll instead carefully and prudently invest your time and money. You'll treat your time as your most precious resource. These are the best years of your life. Don't waste them blindly following what society says you should do. Blaze your own path. Create your own story.