Oct 28, 2019
In this episode of the Millionaire Mindcast, it's the first time in our podcast to have three (3) clever guests in one episode. We have David Lawver, Mike, and Jake who share incredible information on how to build wealth, the best way to position yourself in the market, how to prepare for the next downturn, and thrive during those tough times!
David, Mike, and Jake are experts in wealth building mastermind, and building wealth in all areas of life. They are the 3 of the smartest investing and wealth-building minds who excelled in financial and wealth pillars. Also, these amazing individuals are hedging and positioning themselves to capitalize on for the next downturn.
David Lawver is a Mortgage Lending Expert, and a Real estate Investor. David started out in real estate lending 15 years ago, and 7 years ago started getting into real estate investing. He believes that everything depends on your goals and skill set, market and resources that you’re in. Therefore, surround yourself with the right people, and ask questions. Ask and extract information but also take action with it.
Mike is a broker, investor, and also doing property management in LA. He was in the cosmetic industry before he got into real estate focusing on multifamily since 2002. He was looking for different types of investment he can invest in. For him, Multi-family is very management intensive and is the best way to build wealth over time. Mike believes that anybody can enter these markets, and you don't have to start with a ton of money.
On the other hand, the real estate market is a slow-moving market that we can look for indicators in the overall economy. For that reason, you can have plenty of time to make adjustments before the market gets too far away from you. Though it’s very hard to time the market, the only certainty is that there is a crisis coming.
Jake is a data machine and a data cruncher. He does
private equity real estate and is currently investing in the
secondary and tertiary urban core. He believes that there’s
urbanization of downtown America everywhere. Jake looking forward
to the next recession so focus on reflecting debt, and putting an
opportunistic fund right now.
Believed in yourself. There’s no one better and smarter than you. Don’t be afraid to take action. Go, invest, and learn more. It’s better to try than guessing what might be with that deal.
Some Questions I Ask:
In This Episode, You Will Learn:
Mastering the Market Cycle book by Howard Marks
● Aftermath book by James Rickards