Adulting Is Easy: Making Personal Finance & Real Estate Easy

Lauren interviewed Tom 10 months ago for episode 60 (posted in September 2021) and so much has happened since then that she just had to interview him again! Tom left his 9-5 in January 2022 at the age of 39 with 17 rental doors. The two discuss a bit about Tom's journey, then focus on what life has been like since he retired. It's not all awesome, either. Tom's very real about the ups and downs (but mostly ups) of retiring before you're 40. And Lauren asked some pretty tough questions.

About Tom:

Tom Brickman (The Frugal Gay), age 39, is a married dog dad from Dallas, TX. He recently retired from his 9-5 to work on Real Estate full time (20 doors), a resale business, and The Frugal Gay. Tom provides one on one coaching and covers financial literacy & getting that first real estate deal under contract. 

Connect with Tom:

https://thefrugalgay.com/

https://twitter.com/Thefrugalgay11

https://www.instagram.com/thefrugalgay11/

Sponsored by:

Jasmine Mortgage Team

https://www.jasminemortgageteam.com/

This week, Lauren interviews Jesse Cramer, an engineer-turned-wealth-manager, about the behavior of his clients who are new to investing, whether young, medium, or older. The two discuss goal-setting, the importance of diversification, mistakes new investors make, inflation, the role cash should play in your portfolio, and yes, crypto (surprising answer from Jesse there tbh). You'll learn a lot in this one.

About Jesse:

Jesse Cramer is the founder of The Best Interest, an investing blog with over 500,000 readers since 2018. He works full-time in wealth management in Rochester, NY, where he lives with his fiancée and their foster dogs.

Connect with Jesse:

https://bestinterest.blog/

https://twitter.com/BestInterest_JC

https://www.instagram.com/bestinterest.blog/

Sponsored by:

Jasmine Mortgage Team

https://www.jasminemortgageteam.com/

This week, Clint Murphy, Tom the Frugal Gay, and Lauren (Adulting Is Easy) talked about Twitter growth for #WealthWednesday. It was a nice break from the mindset, real estate, and other money-specific topics they've done. Of course, Clint Murphy is a fantastic thread writer, going viral with one about - of all things - Microsoft Excel. When we started these Spaces, Clint was at around 6k followers and he's now well over 100k. Tom had 1100 followers a year ago and now he's over 16k. Lauren's bringing up the rear with 15k followers. None of them could have had their growth without each other, groups, and threads. Listen to learn how to grow on Twitter.

Connect:

https://twitter.com/StephenCFU_

https://twitter.com/IAmClintMurphy

https://twitter.com/Thefrugalgay11

https://twitter.com/AdultingIsEasy

-- Please note that this information is meant to be just that. Please consult your accountant, financial advisor, and other professionals about your specific situation. --

This week, Lauren brings you her interview with Marianne from Spokane. The two discuss one town's short-term rental regulation journey, and there's a lot to learn! They talk about the importance of regulation, hotels vs STRs, and even how Marianne almost had 2 STRs of her own. In short, this episode contains a little of this and that as it relates to STRs/Airbnbs and you should listen if you're interested in learning more about this real estate investing niche.

About Marianne:

Marianne Bornhoft is an award-winning REALTOR at Windermere Manito in Spokane, Washington and has over 27 years of experience in both residential and commercial real estate. Marianne and her husband Chris own Bornhoft Real Estate which is a commercial brokerage. Their latest project is called Garage Lodge which is a 23-unit Garage Condo complex slated to have its groundbreaking next month.

Marianne was the Chair of Member Communications for the National Association of REALTORS and the 2013 President of The Spokane Association of REALTORS. She was also a past Director for the Washington Association of REALTORS as well as a past Director for the National Association of REALTORS.

Connect with Marianne:

https://bornhoft.com/

https://www.garagelodge.us/

https://twitter.com/spokanehouse

https://www.instagram.com/mariannebornhoft/

FREE Resources:

https://adultingiseasy.gumroad.com/

Sponsored by:

Jasmine Mortgage Team

https://www.jasminemortgageteam.com/

This week, Clint Murphy, Tom the Frugal Gay, and Lauren (Adulting Is Easy) opened #WealthWednesday by discussing the daily actions and thoughts that have contributed to their success over time. Of course, success has many meanings, and these three along with other speakers defined what success means to them. It can mean reaching your goals. It can meal the freedom to own your time. Listeners will pick up specific tips on how to set goals, create a plan, and execute on those goals. You'll also learn the importance of having an abundance mindset, clustering goals, exponential thinking, creativity, and constantly learning. We had some great question and answer time as well. This is one of our most successful #WealthWednesdays to date.

Connect:

https://twitter.com/StephenCFU_

https://twitter.com/IAmClintMurphy

https://twitter.com/Thefrugalgay11

https://twitter.com/AdultingIsEasy

-- Please note that this information is meant to be just that. Please consult your accountant, financial advisor, and other professionals about your specific situation. --

This week, Lauren interviews Sam about his new book Buy This, Not That. They cover what a financial samurai is (see core principles below) and then dive into three different ways to allocate net worth, with the main difference being how much you want to bet on yourself. Learn how to take action with 70% probability of success (and why that's enough) and also how to "forecast your misery." This was a fun conversation and you'll definitely love it.

Core Financial Samurai Principles:

1) Never fail due to a lack of effort

2) Always maintain an abundance mindset

3) Depend on no one but yourself to succeed

4) Know you deserve only what you’ve earned

5) Give without asking for anything in return

6) Know there’s often a solution to a difficult problem

7) Think in probabilities, not absolutes

About Sam:

Sam Dogen started Financial Samurai in 2009, a personal finance site about helping you reach financial independence sooner rather than later. He worked in investment banking for 13 years before negotiating a severance in 2012 to break free from the corporate world. During the pandemic, Sam wrote a new book entitled, Buy This, Not That: How To Spend Your Way To Wealth And Freedom. When Sam is not writing, he's busy playing with his two young kids in San Francisco.

Connect with Sam:

https://www.financialsamurai.com/

Buy the book:

https://www.financialsamurai.com/btnt

Sponsored by:

Jasmine Mortgage Team

https://www.jasminemortgageteam.com/

This week, Clint Murphy, Tom the Frugal Gay, and Lauren (Adulting Is Easy) answered audience questions on #WealthWednesday. Our first was a great one about building a side hustle while keeping your 9-5. We talked goal setting and mindset when answering this one. Then, we transitioned more to real estate-specific questions, like what we would do if we were starting now. Naturally, house hacking came up as potentially the best option. We talked out of state investing, property management, numbers, and more. This was a really good one!

Guide mentioned by Lauren (free): https://adultingiseasy.gumroad.com/l/AnalyzingLTReGuide

NOT Sponsored by BiggerPockets, but they sure were mentioned a lot. Check them out for helpful resources.

Connect:

https://twitter.com/StephenCFU_

https://twitter.com/IAmClintMurphy

https://twitter.com/Thefrugalgay11

https://twitter.com/AdultingIsEasy

-- Please note that this information is meant to be just that. Please consult your accountant, financial advisor, and other professionals about your specific situation. --

This week, Lauren interviews Rod Khleif about how to get and keep the right mindset to invest in real estate. He talks about his experience, which includes losing $50 million in 2008 and bouncing back from that. Rod's life and business experience combine to make this an excellent episode with actionable things you can do NOW to take action and succeed in real estate.

About Rod:

Rod Khleif is a multiple business owner and philanthropist who is passionate about business, high performance, real estate and giving back. Rod soared from humble beginnings as a young, impoverished Dutch immigrant to incredible success. Rod brings authenticity and insight to his approach to business, mindset, real estate, success and life.

Connect with Rod:

www.rodslinks.com

Discount for upcoming training ($197 for 3 days in July):

Text Rodfriend to 72345

FREE guide on analyzing a rental property: https://adultingiseasy.gumroad.com/l/AnalyzingLTReGuide

Sponsored by:

Jasmine Mortgage Team

https://www.jasminemortgageteam.com/

This week, Stephen Wealthy, Clint Murphy, Tom the Frugal Gay, and Lauren (Adulting Is Easy) discussed how to analyze real estate deals on their #WealthWednesday Twitter Space. The group talked about a specific deal, which metrics to look out for, how to manage risk, what our financial targets are, and more!

Guide mentioned by Lauren: https://adultingiseasy.gumroad.com/l/AnalyzingLTReGuide

Connect:

https://twitter.com/StephenCFU_

https://twitter.com/IAmClintMurphy

https://twitter.com/Thefrugalgay11

https://twitter.com/AdultingIsEasy

https://twitter.com/Blind__Luck

-- Please note that this information is meant to be just that. Please consult your accountant, financial advisor, and other professionals about your specific situation. --

This week, Lauren brings you her interview with Taylor Jones. If you're curious about the WHAT and the HOW behind short-term rental/Airbnb setup, this episode is for you. Taylor does an amazing job talking technology, renovation, furniture, supplies, and costs.

About Taylor:

Taylor Jones is a short term rental investor, property manager, and avid golfer. He helps lead acquisitions for Superhost Labs as they build out one of the country's biggest short term rental portfolios.

Connect with Taylor:

https://superhostlabs.com/

https://twitter.com/MrJonesSTRs

FREE Supply Checklist:

https://adultingiseasy.gumroad.com/l/STRsupplylist

Sponsored by:

Jasmine Mortgage Team

https://www.jasminemortgageteam.com/