In this episode of How to Lose Money, we interview a successful full-time surgeon who looked to real estate investing as a way to earn passive income. Anyone looking to earn passive income through investing will learn what to avoid and tips for success in this sector.
Mark Wolgin is an orthopedic spine surgeon who has been investing in real estate since 1996. Through aggressively paying down the mortgage balances and using 1031 exchanges, he ended up with several rental houses in Texas, Nevada, and his current location Georgia. While pursuing real estate investing, Mark has kept his day job.
This is an essential topic to cover because paying taxes is something all entrepreneurs and self-employed people have to do. Making a lot of money is great, but you have to plan for paying taxes. This includes putting money aside, keeping track of expenses, and working with a seasoned CPA. In this episode, Joe offers great advice that will hopefully save you time, money, and hassle.
Joe Saul-Sehy is the creator and co-host of the award-winning Stacking Benjamins podcast, one of the top personal finance podcasts in 2016. Joe is a former financial advisor (16 years) and represented American Express and Ameriprise in the media. He was the “Money Man” at Detroit television WXYZ-TV, appearing twice weekly. He’s appeared in Bride, Best Life, and Child magazines, the Los Angeles Times, Chicago Sun-Times, Detroit News and Baltimore Sun newspapers. He’s also appeared online in more than 200 different places, including CNBC.com and WSJ.com.
Investing in single family homes can be extremely profitable. However, there are many warnings to consider before jumping into this sector. In this episode, Kevin Bupp tells the thrilling story of how he owned 122 single family homes and shares tons of actionable advice for others thinking about this sector.
Kevin Bupp is a Florida-based Real Estate Investor, top iTunes podcast host and serial entrepreneur with over $40 million of real estate transactions. His extensive investment experience spans the gamut of apartment buildings, single-family homes, office buildings, raw land, condos, and his favorite and by far the most profitable, Mobile Home Parks. With over 16 years of experience, Kevin now educates investors to locate, acquire, and create “higher than average” returns from this widely-misunderstood niche of Mobile Home Park Investing. He shares his expertise through the Mobile Home Academy and as the host of The Investing for Cashflow Podcast which has become one of the hottest podcasts on iTunes, often in the top 100!
Reed Goossens is a serial real estate entrepreneur and founder of RSN Property Group. As a native Australian, Reed moved to the US to pursue his investing career.
A qualified structural engineer and project manager, Reed has been involved with construction and real estate since 2007. Reed’s expertise includes project management, property development and key stakeholder management. Reed has been involved in the development and acquisition of over $500 million worth of real estate and infrastructure across four continents; Australia, North America, Europe and South East Asia. After gaining valuable experience working in the engineering and construction industry, Reed decided to pursue his passion for real estate development and investing by starting RSN Property Group.
Let's face it. Entrepreneurship isn't always glamorous. But the temporary pain is so worth it for the long-term rewards of working for yourself. Jim's story will inspire you that you can make it through absolutely anything, as long as you never give up!
Jim Palmer is a marketing and business building expert and in-demand coach. He is the founder of the Dream Business Academy and Dream Business Coaching and Mastermind Program. He is the host of Dream Business Coach TV, the hit weekly Web TV show watched by thousands of entrepreneurs and small business owners, and he is also the host of Dream Business Radio, a weekly podcast based on Jim's unique brand of Smart Marketing and Business Building Strategies.
Jim is a cancer survivor, has been married for over 37 years and has four grown children. Recently, Jim and his wife Stephanie JUST SAID YES to their dream of living on a boat. Join their adventure, which is chronicled on Our Floating Home.
Frank Cottle is CEO of Alliance Virtual Offices and Chairman of the Alliance Business Centers Network. He is a recognized expert on flexible working, the virtual office movement and 'third place' working. Prior to creating the Alliance brand, Frank successfully operated his own portfolio of business centers in multiple locations across North America.
Frank has spent almost the past 30 years delivering business services that are finely tuned to the workplace needs of startups, entrepreneurs and growing SMBs. Over the years he has worked with tens of thousands of business owners and, coupled with a unique global management perspective, has become the go-to authority on flexible and remote work.
Many of us go through a crisis in our personal lives that overflows into our work lives. We have to know how to handle these difficult seasons and not let the difficult seasons define our entire lives. Joe's story is full of hope and inspiration, despite going through something very hard.
Joe Apfelbaum is the CEO and co-founder of Ajax Union, a digital marketing agency based in Brooklyn. He is a public speaker, certified Google Trainer, and published business author. Joe enjoys speaking and writing about a broad range of business topics in his seminars, webinars and articles. Joe is the host of the popular podcast CEO Mojo and has been featured on popular podcasts including Hal Elrod and New Customer Machine. He is also the producer of GrowTime.tv. Joe is a member of the Board of Directors of the Entrepreneurs Organization in Brooklyn, a group with over 11,000 CEO’s and a contributing member of the INC Business Owners Council, a community of the fastest growing companies in the United States. Joe is proud of all his accomplishments, but most of all he is proud of his successful foodie wife and beautiful amazing kids.
Is it possible that being good at your job isn't always enough? In this episode, Stephanie tells a different kind of "How to Lose Money" story...
Based in Dallas, Stephanie Chung and Associates offer sales training, executive coaching, and small business mentorship services nationwide. Among her products is the “High Ticket Selling Made Simple” course, designed to help small business owners sell more and make more. As a former sales executive in the aviation and private jet industry, Stephanie has mastered the art of high ticket selling and has mentored, coached and developed some of the highest paid, most elite, sales professionals in the country.
Serving business leaders, entrepreneurs, and sales professionals, Stephanie Chung uses her proven executive coaching and sales training expertise to get the job done. Chung is an executive coach, trainer and advisor backed by more than 25 years of team management, business development, and sales leadership experience. Chung is also a public speaker, a contributor on ABC, CBS, NBC and author of “Profit Like a Girl: A Woman’s Guide to Kicking Butt in Sales and Leadership” and “Embrace the Suck: How to Grow and Succeed in Business”.
House flipping has become mainstream thanks to shows on HGTV and TLC. However, flipping houses is not always a sure path to wealth, as our guest Tyler Sheff explains! Though we talk about real estate on this episode, we offer actionable tips that any entrepreneur in any industry can benefit from.
Tyler Sheff is the CEO of Cash Flow Guys which is a company focused on helping people escape the rat race by building wealth in long term hold real estate. As an Educator, Coach and Master Facilitator of Robert Kiyosaki’s CashFlow 101 Game; Tyler hosts workshops online and in the Tampa, FL area to teach busy people how to escape the rat race by acquiring assets creatively. Tyler is a huge advocate of financial independence and helps others achieve just that.
As a syndicator and investment realtor, Tyler helps people invest in larger projects that most never thought would be possible. Tyler and his team acquire, stabilize, and then provide clean, safe affordable housing to those in need when it matters most. As the host of the Cash Flow Guys Podcast, Tyler teaches the public how to avoid common pitfalls found in real estate investing and inspires others to take massive action towards their goals.