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Ep45 - Whiskey and Real Estate: Round Table Discussion with Erik Hitzelberger, Ryan Breznik, and Jared Kelley
Manage episode 301883891 series 2976410
Making money is not rocket science. It can be done in a variety of smart and creative ways. While building your wealth is possible in multiple means, having the right mindset and the power to take control of your finances can catapult you towards financial independence.
How to take control of your finances:
- Take action: Preparation meets opportunity.
- Expand your community: Your network is your net worth.
- Continuous education: Learn from mentors and doers.
On the Expert(ish) Podcast today, Ryan Breznik, Erik Hitzelberger, and Jared Kelley get together once again to talk about everything real estate over a couple of whiskeys. They will cover topics such as how to get started investing in property, how to mitigate risks, and their future plan to launch an incubator for people interested in getting into the real estate market.
Enjoy!
In This Episode
2:12 - Jared's take on how to start investing in real estate
4:02 - Erik's advice on how to build a passive income the fastest
6:23 - Ryan's perspective on why people are afraid to invest
12:19 - Smart and easy steps for getting started with rental properties
16:32 - An investor's mindset when dealing with risk
26:09 - Why time is an investor's best friend
35:04 - The definition of an incubator in real estate
44:52 - The power of Roth IRA
52:17 - How Ryan, Jared, and Erik view past mistakes
1:03:07 - Creative ways to get a toe in the water on property investing
1:14:13 - What's next for Jay, Ryan, Jared, and Erik
Favorite Quotes
"At the end of the day, our goal here is to create passive income that exceeds our expenses. The fastest way to start building that passive income is to acquire the assets that are going to pay for it. The fastest way to acquire the assets is to use other people's money." - Erik Hitzelberger
"The number one way to get into real estate is to find a dealer and find a way to make money on it. But don't always shoot yourself short. Maybe there are other options, other strategies that could make sense besides saving up a bunch of money." - Jared Kelley
"The money is the easy part. There's a lot of money out there and it's sitting on the sidelines and people would gladly give it to you if you can show them a way to turn a profit from. If you can put together the deal, the money will come." - Erik Hitzelberger
"Sometimes we forget that our trade or our knowledge is worth something and it doesn't just have to be money that's on the table. Buying is the number one thing to do. If you buy right, the money's going to fall." - Jared Kelley
"You don't have to jump all into this multimillion-dollar rental company. It doesn't need to be multifamily, that's not maybe a starting point for you. It could be for somebody if you find the right deal. But for those who are just starting out, it can be smaller steps." - Ryan Breznik
"The worst place you can have your money is in cash. The higher the inflation rate, the worse that is. Everyone should have a savings account to cover unexpected costs. After that, the money that you have is losing value every single day. “ - Erik Hitzelberger
"If you're not working on developing your own operational plan for your finances, no one else is. It's just sitting there. Time goes by and time's never on your side." - Erik Hitzelberger
"Don't beat yourself up about those past mistakes. But utilizing them and analyzing that portion of your life or where you are as an investor is important." - Ryan Breznik
"Somebody is going to control your finances. Somebody is going to control your time. I think that person should be you. You're doing yourself a huge disservice if it's not you. So take the actions, find the right people, get yourself educated, and get started." - Erik Hitzelbeger
How to get connected:
Connect with Expert(ish) Podcast Host JAY JOHNSON
Call (858) 925- 4536
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