NOTE: This episode fell through the cracks in Sep 2024 *sorry about that* but you're getting it now!

Interestingly, Kris’s journey started with him wanting to be a surgeon. But he ended up becoming a teacher and becoming bored with the repetitive nature. Wanting a challenge and more money, he became a consultant and went to business school. Kris’s real estate investing journey began while he was still working full time. Lauren shares some personal stories she hasn’t shared before related to Kris’s journey. They talk about how each step in your career you’re learning skills and stacking them together. Lauren then transitions to personal finance, specifically curious about how Kris learned about money. For starters, he’s very goal-oriented, so much so that he set a goal of dunking a basketball when he was younger, and he actually did it. But goals don’t get you all the way there, you should surround yourself with people who don’t know the things you do. And anyone can be successful, like Kris, even in this challenging interest rate environment.

It's that time of year. Time to look back on Adulting Is Easy's FIFTH full year of podcasting.

About the listeners:

80% from the US (81% last year)

Others: Canada, UK, Australia, South

Gender (Spotify):

35% female (43% in 2023, 31% in

52% male (55% in 2023, 69% in

13% none specified

Age (Spotify):

0-17: 0%

18-22: 4%

23-27: 4% (down from 14%)

28-34: 32%

35-44: 11% (down from 26%)

45-59: 36% (up from 14%)

60+: 0%

Unknown: 4%

Where are you listening?

Apple: 55%

Spotify: 8%

Overcast: 7%

Browser: 23% (up a lot)

Castbox: 3%

Other: 5%

159: What To Do When You Inherit a

160: Turning Real Estate Investing

161: Beyond Broke: Unleash Your

162: Stop Stressing About Money (A

163: Overcoming Landlord Not-So

164: Move Yourself Physically,

165: Personal Finance Questions to

166: When You House Hack a House

167: Wealth Blueprint: Using Your

168: Keep Finance Personal: Get

169: Real Money is Made During

170: All About Roofs & Don't

171: Taking Over Dad's Real Estate

172: Hack Your Way to Wealth (Even

173: Passive Income with Andrew

174: Change Your Own Life: Make

175: Are Student Loans a Scam? How

176: Millions Locked in Retirement

177: Wedding Venue Business Breakdown

178: Bitcoin: Have Fun Staying

179: REPLAY: Think and Grow Rich

180: The Landlord Who Rents

181: Car Wash Cash Flow: Small

182: Equity Exchange: Selling

183: Net Worth: What, How, and Why

184: Small Expenses That Add Up

185: Financial Feast: A

186: Generating Side Income: Are

187: What if You Can't Pay for

188: REPLAY: Budgeting for Dummies

189: Fight All Day and Make Money

190: How Retiring at 44 Changed My

191: The Government Has Your

192: Paying Your Home Off is An

193: Credit Cards are Like

194: Real Estate vs Bitcoin

195: Lifestyle Design: The 5

196: TODAY

Coming up: The plan is for me to

Connect with Lauren:

https://www.realadultingiseasy.com/⁠⁠⁠

https://twitter.com/AdultingIsEasy 

https://www.instagram.com/adultingiseasyreal/

Brian and Lauren discuss college degrees, and whetherthey’re valuable or not, given Brian isn’t happy with his degrees. Spoiler, there’s inherent value in getting a degree. Lauren asks Brian to dive into what it was like to be in real estate during the bubble and leading up to the 2008 real estate crash. While he lost his job with a hard money lender, he was able to get another job in the real estate space, and that led to his current company, Spark Rental. Soon, the conversation transitions to lifestyle design. Brian and his family have lived outside of the country for years, starting in the UAE. He has borrowed the 5 freedoms framework to help with lifestyle design: 1) freedom from financial stress, 2) location freedom, 3) time freedom, 4) work freedom, and 5) financial independence. Interestingly, once you get the first 4 freedoms, you don’t usually need full financial independence. You are happy to do enough to cover any shortfalls. Brian brings it home by explaining why he likes real estate to achieve the 5 freedoms but notes it does not have to be everyone’s freedom vehicle of choice. He also dives into more detail about Spark Rental.

If you liked this episode, you’ll also like episode 44: All the Ways You Can FI or 77: FIRE in Your 20s.

About Brian:

Brian Davis is a real estate investor and personal finance writer. After graduating from University of Delaware in 2003 with two useless bachelor’s degrees and an even more useless minor in anthropology, he fell headfirst into real estate finance by accident. He promptly went on a property buying spree from 2005-2008. It was what you might call a “learning experience,” all of the lessons expensive. Eventually, Brian tired of land lording and unloaded his own portfolio of rental properties. Nowadays he only invests passively in real estate. Along with his wife and daughter, Brian spends most of the year abroad living by his own rules. He loves writing, hiking, cooking, pairing wine with said cooking, scuba diving, and occasionally surfing (badly). Most of all, Brian loves showing others how they too can create their ideal lives through real estate investing and lifestyle design.

Connect with Brian:⁠

https://sparkrental.com/

⁠⁠https://www.facebook.com/sparkrental/

⁠⁠https://www.instagram.com/sparkrental/

⁠⁠https://x.com/sparkrental/⁠

Connect with Lauren:

https://www.realadultingiseasy.com/

⁠⁠⁠https://twitter.com/AdultingIsEasy 

https://www.instagram.com/adultingiseasyreal/

Which is the better investment – real estate or bitcoin? Is bitcoin even an investment? Or is it currency? A commodity? Lauren challenges her friend Rajat about bitcoin and he challenges her about real estate. The result is a rich debate about two different investment options that have minted millionaires. Naturally, real estate (and the stock market) have been around quite a bit longer and thus have a bigger track record to fall back on. Lauren educates Rajat about real estate, and he educates her about bitcoin. Let us know which you think is better when you’re done listening!

Connect with Rajat:

https://www.youtube.com/@rajatsonifinancehttps://x.com/rajatsonifnance

Full, original conversation:

https://youtu.be/A-hsooaDILU?si=Xa0LyhFqNKPno9j1

Connect with Lauren:

https://www.realadultingiseasy.com/⁠⁠⁠

https://twitter.com/AdultingIsEasy 

https://www.instagram.com/adultingiseasyreal/

Brett opens up by defining what credit cards are, then he gets into the pros and cons of credit cards. The main pros are travel insurance, consumer protection, and rewards. The main con is the high interest rate and propensity for people to spend money they don’t have, the “poison” of personal finance, if you will. Both Brett and Lauren are using 0% credit cards right now to carry balances, but they arenusing these responsibly and will pay them off before the interest hits. Credit cards are like fireworks. If you play with them responsibly, you’ll get a beautiful show. If not, they’ll blow up in your face. How do you know which cards are best? It depends on what you’re looking for: cash rewards or travel ones. Lauren asked about annual fees, and Brett point out that you can get more value than the annual fee in most cases. Then, Brett casually drops into the conversation that he has had over 100 credit cards since he was 18, 13 years ago. Right now, he’s using his Chase Sapphire for everything, including a rental car recently in Denver. When a hailstorm rolled through, the damage was covered by the credit card! How does having so many cards affect your credit? It turns out it’s not too serious of an impact, usually 5-7 points. Lauren then asks about how credit card limits work. Interestingly, Brett points out that you can transfer credit lines to different cards with the same provider. Lauren asks Brett to explain how credit card companies make money if they’re able to give Brett all these rewards! They make money on interest, late fees, and processing fees as well. Lauren then shares a consumer protection win of her own. Brett closes by reminding people that they’re using their credit card every day. They should analyze whether they’re actually using the right one.

About Brett:

Connect with Brett:

Twitter @brettholzhauer

Biz2Credit.com

Upgraded Points

Connect with Lauren:

https://www.realadultingiseasy.com/⁠⁠⁠

https://twitter.com/AdultingIsEasy 

https://www.instagram.com/adultingiseasyreal/

Lauren kicks off by asking who should even buy a home. Homeownership is not necessarily always better than renting. You should consider your lifestyle and how long you want to live there. Dale believes your primary residence is an asset AND ALSO THAT YOU SHOULD PAY OFF YOUR HOUSE AS SOON AS POSSIBLE. It’s an emotional investment then, not a financial one. Lauren asks what Dale’s thoughts are about investment properties. They both agree that “primary hacking,” buying a home, living in it for a short time, then buying and moving into a new home, then renting the first one out is a good way to get started. The lowest interest rate loans are those on primary residences. Your risk tolerance is a huge factor here. The two then transition to discussing timing the real estate market. Some people just aren’t wired to build wealth. Or maybe they’re just not in the right circles. Networking with the right people is important, and also reading the right books can help with mindset. Then, they go back to discussing buying a home, and how much home you should buy. Perhaps you should look at it through the eye of primary hacking. Buy houses that would make good rentals. If buying in an HOA, make sure you’re permitted to rent the property out per the bylaws. Lastly, they talk about avoiding buyer’s remorse and taking action. Dale recommends you THINK BIGGER.

If you liked this episode, you’ll also like episode 149: Personal Finance is Personal, and so it investing.

About Dale:

Dale Wills is an experienced real estate developer who has been involved in the industry for more than 25 years. He is the owner and founder of Centra Companies, and since 2011, he has overseen the development of more than 1,500 homes. He recently established Centra Capital Partners, a real estate syndication company partnering with accredited investors to build wealth through the ground-up single-family home developments in the Midwest.

Connect with Dale:

https://centracapitalpartners.com/

https://www.facebook.com/CentraCompanies

https://www.instagram.com/centracompanies/

https://x.com/dalerwills

https://www.youtube.com/channel/UCkXyXiIUnUEFvX4mVJ4F98A

https://www.linkedin.com/in/dalerwills/

Connect with Lauren:

https://www.realadultingiseasy.com/⁠⁠⁠

https://twitter.com/AdultingIsEasy 

https://www.instagram.com/adultingiseasyreal/

Estate planning is probably the least sexy topic in personal finance, but we need to talk about it. Death comes for all of us. David opens by telling us about the estate issues after his parents passed away, which made him passionate about this topic. Estate planning involves more than just wills, and it’s not just for rich people. The goal is to leave a legacy, not a mess. Professionals you need in your corner: accountant, lawyer, and financial planner. The professionals are there to help the executor settle your estate. Then, the conversation transitions from general ideas to Lauren’s situation specifically. It’s embarrassing, but she doesn’t have a will. Luckily, Lauren has encouraged her parents to get one, which they’ve just done, and she will have hers done by the end of 2024. Something else to consider: your digital footprint, like emails and passwords! David suggests having an envelope with everything your executor and beneficiaries need in it. Also, communication is key. An interesting trend is children fighting over estates before the parents pass away. Remember, that if you don’t have a plan, the government has one for you. Lauren shares a tough conversation her grandmother had about her estate going to her uncle instead of her mother. David continues the story he kicked off with, about fighting over his parents’ estate with his siblings. Even if you don’t want to go to a lawyer, do it online! Just do something.

If you liked this episode, you’ll also like episode 33: 5 talks you should have with your parents (one is about estate planning) and episode 159: what to do when you inherit a property or bequeath one.

About David:

David Edey is a Certified Executor Advisor with over 35 years of experience in the financial planning industry, specializing in estate and legacy planning. He is the author of the bestselling book, "Executor Help: How to Settle an Estate, Pick an Executor, and Avoid Family Fights," and hosts the Executor Help Podcast, guiding individuals to secure their legacies and maintain family harmony.

Connect with David:

www.davidedey.com X: https://x.com/DavidEEdey

Facebook: https://www.facebook.com/prepareyourexecutorprotectyourfamily

Linkedin: https://www.linkedin.com/in/david-edey-cea-b524342/

YouTube: https://www.youtube.com/channel/UCSpPucTHVEVN1AjXrSAl5Fg

Connect with Lauren:

https://www.realadultingiseasy.com/

https://www.instagram.com/adultingiseasyreal/⁠⁠

As the son of an immigrant, Lauren asks about how that shaped his life. Like many of us, Tony was under the impression that if you got to school and if you get a good job, you will be successful. That illusion was shattered when he was laid off. Even with a good job, it’s hard to pay even regular bills and also save money. The rules of the game have changed, and for the first time ever the upcoming generation is not better off than the one before it. Over half of young people 18-29 live with their parents. Lauren and Tony emphasize the importance of getting started, and not living in the past. Tony walks through how he got started investing in real estate. The concepts are the same and numbers you run today are the same as they’ve always been. If you’re not sure how to start, network and learn from others, whether it’s investing in real estate, businesses, stocks, or anything. Tony closes by reminding us that our goals should be our own, not anyone else’s!

If you liked this episode, you’ll also like episode 189: Fight All Day and Make Money and 174: Change Your Own Life: Make More & Pay Off Your Debt.

About Tony:Tony Lopes is first-generation American, CEO of Dirty Boots Capital, real estate professional, bestselling author, coach, and speaker. He earned a BS in Mechanical Engineering and an MBA from UMass. He worked in the defense industry for 19 years managing multi-million-dollar programs while simultaneously building a portfolio of residential income properties. His investments, coupled with his understanding of markets and economics allowed him to retire at age 44. What really drives Tony is sharing his knowledge and experience so that others can achieve financial independence and enjoy the same level of freedom he does.

Connect with Tony:

https://dirtybootscapital.com/

https://freedomatriskbook.com/

https://www.linkedin.com/in/tony-lopes-far/

https://www.youtube.com/@dirtybootscapital

https://www.facebook.com/FreedomAtRisk/

https://twitter.com/FreedomAtRisk_

https://www.instagram.com/Dirty_boots_capital

Connect with Lauren:

https://twitter.com/AdultingIsEasy

https://www.realadultingiseasy.com/

https://www.instagram.com/adultingiseasyreal/

Chrissy opens up by telling us about her new book, Ladyshark, which is all about becoming a millionaire in your 30s. Why would you want to become a millionaire in your 30s? Freedom! But does being a millionaire mean you’re successful? Not necessarily. Chrissy talks about how her father, an immigrant, shaped how she perceives the world. The two touch on networking and its difficulty and importance. In keeping on the immigrant track, Lauren wonders if immigrants actually work harder or if that’s a stereotype. Chrissy thinks it’s about the parenting style more than anything, and she’s taking a lot of cues from her parents when parenting her own children (baby ladysharks). Lauren asks Chrissy why she became a lawyer. She shares a harrowing tale of her father’s rental unit experience with a lawsuit. She helped navigate that situation and came out inspired. Chrissy also ended up investing in real estate, even after this rough experience. Lauren asks about balance, and Chrissy suggests listening to yourself and your body.

If you liked this episode, you’ll also like episode 171: Taking Over Dad’s Real Estate Business with Vanessa. We’ve also had some ladysharks on the House Money Podcast, so definitely head over there as well.

About Chrissy:

CHRISSY GRIGOROPOULOS is the founding and managing attorney of The Grigoropoulos Law Group PLLC. She is also the corporate Real Estate Broker of Property Shark Realty, Inc, as well as the CEO of IME Sharks, Inc. Chrissy has vast experience in criminal defense, primarily handling high profile criminal cases and large exposure personal injury and third-party workers’ compensation matters. She also appears as Trial Counsel to other law firms, litigating their personal injury lawsuits in New York courts, at arbitrations and mediations.

Connect with Chrissy:

Theladyshark.com

https://grigorlaw.com/

https://twitter.com/grigorlawgroup

https://www.instagram.com/chrissygofficial/

https://www.youtube.com/@cgrigor.7552

https://www.linkedin.com/in/chrissygrigor/

Connect with Lauren:

https://twitter.com/AdultingIsEasy

https://www.realadultingiseasy.com/

https://www.instagram.com/adultingiseasyreal/

Hey everyone! Lauren has been having quite the summer, and with a couple of trips, buying/renovating a new primary, and a move we're doing a replay this week. Fear not, though, this is our most popular episode of the last couple of years so if you haven't listened yet, you'll love it. If you have listened, you may just love it again.

Show notes:

Athena got into the personal finance content creation world to help the Latina community (and everyone) learn along with her. She’s passionate about helping her community because of the wage and income gaps present. Athena discusses the importance of diversifying income streams, as well as her investment portfolio. Since she literally wrote the (for dummies) book on budgeting, of course Lauren and Athena dove deep into this topic. The first method they talked about was zero based budgeting. The second was the 50/30/20 method, Lauren’s favorite. The third budgeting method discussed was the cash envelope method, Athena’s favorite. Finally, they talked about the pay yourself first budget, which is often not thought of as a budget at all! She offers tactical tips for sticking to a budget, like having groceries delivered. Athena also recommends an accountability partner, which can even be anonymous. Everyone should have a budget because it’s the foundation on which all personal finance goals are based.

About Athena:

Connect with Athena:

⁠⁠https://twitter.com/accordingathena⁠⁠

⁠⁠https://www.facebook.com/moneysmartlatina/⁠⁠

⁠⁠https://www.instagram.com/moneysmartlatina/⁠⁠

⁠⁠https://www.slate.com/paydirt⁠⁠

Subscribe to the Adulting Is Easy YouTube channel: https://www.youtube.com/@adultingiseasy

If you liked this episode, you will also like Episode 144 with Jannese from Yo Quiero Dinero called You Should Have Multiple Streams of Income and 56 with Jrod called Simple Financial Advice.

Donate to the show: ⁠⁠https://cash.app/$AdultingIsEasy⁠⁠