BTM171: Escape the High Wage Earning Trap with Dr. Jeff Anzalone
High income earners are the most privy to financial mistakes, contrary to popular belief. This is why a professional making 500k a year and a professional making 50k a year can both live a “broke” lifestyle. At the end of the month, both are drowning in debt, neither have anything left over and the higher earner isn’t much happier.
On today’s episode Daray interviews Dr. Jeff Anzalone (between surgeries) who lays out solid advice for anyone embarking on the process of getting out of debt and into passive cash generating assets.
Key Points From This Episode:
- How high-income earners can use real estate to invest passively
- Properly setting up a game plan to pay off debt efficiently
- What every professional can and should be doing to lower their taxes
Links Mentioned in Today’s Episode:
Recommended Book:
The Bible
Think and Grow Rich by Napoleon Hill
Rich Dad, Poor Dad by Robert Kiyosaki
Listen to these books for free with Audible!
Lifestyle Design App:
BTM166: The Pursuit of Financial, Location and Time Freedom for Immigrant and Ex Wall Street Trader Linying Zou
Today’s guest, Linying Zou is on a mission to achieve one thing – help people achieve freedom in their lives, by breaking free from the constraints of money, time and employers.
On this episode, we discuss exactly how Linying was able to achieve this feat in her own life. As a former Wall Street trader, her initial dream was to become a partner at her firm but she quickly realized that she was a pawn and had no true way to wealth if she kept down that track. After a few failed entrepreneurial partnerships and a 6 month trip halfway across the world she decided that it was finally time to settle on real estate as her wealth building vehicle and has been on a trip to her freedom number ever since.
Key Points From This Episode:
- How Linying’s immigrant upbringing affected her financial future
- The importance of a “freedom number” and how to calculate it
- Why Linying attributes her success to her “miracle morning”
- The decision Linying made to start investing in multifamily apartments
- How you can use real estate to replace your income and travel the world
Links Mentioned in Today’s Episode:
Recommended Book:
Rich Dad Poor Dad by Robert Kiyosaki
Miracle Morning by Hal Elrod
Listen to these books for free with Audible!
Lifestyle Design App:
BTM163: Wealth & Freedom Investing in Mobile Home Parks with Andrew Keel
Andrew Keel currently manages 21 manufactured housing communities across nine states. His expertise lies in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs.
On today’s episode Andrew and I discuss the key differences between investing in manufactured homes and the parks that they occupy. With time, Andrew became skilled as an investor and realized that he could switch his model of earning income to one that better suited his desired lifestyle — This wasn’t before tons of trial and error, most notably 18 months of prospecting with zero deals done. We’ll have a discussion on the mindset it takes to overcome such hurdles and how he’s taking that mindset to the next Ironman competition.
Key Points From This Episode:
- Going bigger, faster to get to your goals
- How Andrew preserved through 18 months with 0 deals
- The similarities between Ironman competitions and the real estate business
- The difference between mobile homes and mobile home parks
- How to create a “forever cash” machine
- Why it’s important to stay as lean as possible for as long as possible
Links Mentioned in Today’s Episode:
Recommended Book:
Deals on Wheels by Lonnie Scruggs
Listen to this books for free with Audible!
Lifestyle Design App:
BTM153: Millennial Immigrants Build $57 Million Portfolio in 24 Months with Philip Michael
Philip, today’s guest, moved to the US in 2014 and started investing in real estate in 2016. As a writer, he leveraged his his skills to win writing competitions for ends meat and eventually landed on SiriusXM radio and Tv since he couldn’t yet work legally in the U.S.
Fast forward a couple months and along with his nephew/co-founder FC Barcelona star Martin Braithwaite, Philip built a $57M+ real estate portfolio in less than 2 years – including one of a few NYC high rises owned by “Millenials of Color”.
On today’s episode we discuss Philips journey to success and the wisdom he’s gleamed along the way.
Links Mentioned in Today’s Episode:
Recommended Book:
Think and Grow Rich
Listen to these books for free with Audible!
Lifestyle Design App:
BTM130: Listen To This If You Want To Get Started In Real Estate
How do I get started in Real Estate?
How should I begin my investing journey?
How much money do I need to get started?
On this episode of the Before The Millions Podcast, we are answering all of those questions as they pertain to you. You may be overwhelm with all of the real estate strategies or confused as to how to get started but by the end of this episode you will leave with a crystal clear strategy and a commitment to that strategy…
Download this weeks freebie! –> Real Estate Newbie’s Guide here to follow along with the exercises in the episode.