In today's episode of the Cashflow for Life podcast, Andrew is joined by Oscar Setiawan, whose journey from the proprietor of Chicago's only authentic Indonesian restaurant to a successful real estate investor is nothing short of inspiring. Oscar shares the pivot that led him from the culinary world to real estate, driven by a blend of entrepreneurial spirit and a quest for financial destiny control. His transition was fueled by recognizing the limitations within a conventional job and the desire for a life where he could dictate his own success. Oscar's story begins with his innovative leap into restaurant ownership, aiming to fill a niche in Chicago's diverse culinary scene, and transitions into his calculated dive into real estate investing, showcasing his adaptability and entrepreneurial acumen.

Throughout the conversation, Oscar provides insight into his strategic approach to real estate investment, emphasizing the importance of area selection and the willingness to adapt strategies based on market conditions. He candidly discusses the challenges faced during the 2020 pandemic when his restaurant business was hit hard, and how he shifted focus towards real estate to maintain financial stability. His journey is a testament to the resilience and creativity required to thrive in the face of adversity. Oscar's evolution from a restaurant owner to embracing real estate full-time illustrates the critical role of flexibility and foresight in navigating the unpredictable waters of entrepreneurship.

Oscar offers some insights into his latest venture, a unique blend of personal passion and strategic financial planning, aimed at securing his daughter's educational future. The creation of "God is an Investor," a streetwear brand, signifies a novel approach to teaching financial responsibility and entrepreneurship to the next generation. This initiative not only underscores Oscar's commitment to his family but also his innovative spirit in exploring new avenues for growth and investment.

Listen now and enjoy!

What You Will Learn In This Show:

• How Oscar moved from owning Chicago's only authentic Indonesian restaurant to becoming a successful real estate investor.
• The significance of area selection in real estate, how to adapt investment strategies based on market conditions, and the importance of resilience and creativity in overcoming challenges.
• Insights into the entrepreneurial mindset that drives success across different industries.
• The dynamics of different real estate markets, including the challenges and strategies for investing in single-family homes versus multifamily properties, and how to identify profitable investment opportunities.
• The concept of generating active income through real estate flipping and wholesaling, and how this strategy can be used to build a portfolio of rental properties for long-term wealth and cash flow.
• How family goals can intertwine with business ventures to teach financial responsibility and entrepreneurship.
• Oscar's experience during the COVID-19 pandemic, and the importance of having flexible business strategies that can adapt to unforeseen circumstances.
• The value of good bookkeeping and financial management in real estate investing, and how Oscar's venture into creating a bookkeeping service helps real estate investors manage their finances efficiently.
• The concept of lifestyle investing, where the focus shifts from just accumulating assets to creating a portfolio that supports your desired lifestyle.
• And much more...

Resources:

God is an Investor