Generating Wealth and Retiring Rich with Rentals
With a passion for researching and sharing the most important facts on real estate and economics, Kathy – Co-Founder and Co-CEO of the Real Wealth Network – is a frequent guest expert on such media as CNN, CNBC, Fox News, NPR, CBS MarketWatch and the Wall Street Journal. She is the author of the #1 best seller, Retire Rich with Rentals, and is host of The Real Wealth Show – which is a featured podcast on iTunes with listeners in 133 different countries. After working in the newsrooms of CNN, FOX, CTV and ABC-7, she became a certified personal coach through the Coaches Training Institute in San Rafael, California. In 2001, she took the coaching process to television and produced a cable show called “DREAM” which followed the process of six people going after their dreams over 90 days. Her show sponsor was a real estate expert and the segments they produced changed her life. After interviewing dozens of real estate millionaires, Kathy discovered their best strategies for creating passive income streams. She and her husband bought numerous investment properties and since then learned the highs and lows of investing that can only come from hands-on experience.
What you’ll learn in this episode:
*How a personal family financial crisis related to a 10-31 exchange and her father’s impending retirement led Kathy and her husband into this business
*How her husband’s health scare in 2003 – and her resulting financial fears – led her to create the Real Wealth Network, where her interviews with successful real estate investors – and learning about the power of passive income – helped lay the foundation for her own success as an investor
*The common denominator that all successful investors share despite their different methodologies: a wealth consciousness mindset
*How spending time with and immersing in the culture of successful investors helped her adopt a mindset of success for herself.
*How networking opportunities led to invitations to go to real estate investing seminars and boot camps, where she learned about the many ways to make money via tax liens, flipping and multi-family units.
*The power of leverage in making these investments.
*How a conversation on her show with famed Rich Dad, Poor Dad author Robert Kiyosaki – who warned of an impending bubble bursting in the market – inspired her to create a team in Texas to help people who wanted to sell their high priced properties in California find new investments in Texas. In doing so, Kathy helped hundreds, if not thousands of people avoid losses during a subsequent recession.
*Her current status, with 40,000 investors in the network, regular events and free webinars, a podcast with thousands of listeners – and recognition by Lloyd Blankenfein, CEO of Goldman Sachs, as one of the Top 100 Most Intriguing Entrepreneurs in the world.
*How a listener’s suggestion that she invest in a foreclosed subdivision led her and a group of investors to buy 27 waterfront townhomes in Portland, OR, renovate them and sell them at a great profit in the middle of the Great Recession.
*The factors influencing her purchase decisions: a great deal and experience of the management, including bringing a partner who has 30-40 years of experience.
*Essential advice for people just getting started and the importance of educating oneself through podcasts, books, information available via other media and connections with experienced investors
*Overcoming the “scarcity mindset” of those who want to start investing but think they don’t have the financial means
*The importance of taking advantage of her free webinars and the information imparted on her podcast and via the Real Wealth Network, which is free to join.
*Her philosophy on the most important things to remember even as you work towards great financial success.
Resources:
https://www.realwealthnetwork.com/learn/real-estate-news-podcast