Guest: Paul David Thompson, host of Ready Investor One podcast

Full-time Real Estate Investor

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1% rule

Monthly rent > 1% cost to purchase and rehab

Proof of concept

# of doors irrelevant, only for ego

Goal should be cashflow & net worth with paying down of principal

Use podcasts and Biggerpockets for education (in addition to reading books)

Biggerpockets great for beginners

→ after that, networking with other experienced investors to continue growth

Mentor stressed mindset first

Book referral: Building Wealth One House at a Time, by John Schaub

Text “investor” to 33777

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https://www.moneyunder30.com/best-investment-apps

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Idea behind the industry

The “too busy” investor

The undisciplined investor

The “it’s too hard to learn” investor

Betterment

Robo-advisor and financial advice

automates the investment process from start to finish.

give you a personalized portfolio of low-cost index funds.

They help you decide how much to invest and sync with your bank so that you have the option of regular automatic contributions. 

uses a complex algorithm

option of speaking to a financial expert.

Pricing

$0 minimum and 0.25% annual fee for the standard account; $100,000 minimum and 0.40% annual fee for the premium account.

Stash

Beginning investors

Stash allows you to invest in fractions of shares, which means you can start with as small as 1 cent.¹

They offer you a choice of roughly 1800 single stocks and ETFs.² So there is a lot to choose from based on your desired risk, financial situation, and lifestyle.

Offer financial education.

Pricing

Beginner – This plan is $1/month and offers a personal investment account, bank account access⁴, and financial education.³

Growth – This plan is $3/month and offers all the features of the beginner plan, plus accounts with tax benefits for retirement⁵ investing.³

Stash+ – This is a $9/month plan that offers everything the other two plans offer, plus a debit card, custodial accounts (UGMA/UTMA) for up to two of your children⁶, and monthly marketing insights.³

Acorns

Beginning investors

automatically invest your spare change.

links with your credit and debit card and automatically “rounds up” the spare change to the next dollar on every purchase. You can also sign up for Acorns Spend and get a debit card that will round up in real time.

For example, if you bought a latte for $3.60, they’d automatically deposit 40 cents to your investment account, which can potentially add up to quite a lot every month.

Based on your desired risk, Acorns gives you the choice of five different portfolio options, which were created by Nobel Prize-winning economist Harry Markowitz.

M1 Finance

offers automated investing in pre-selected portfolios, or you can choose from any stock or ETF.

M1 is meant for people who like the idea of automating their investments, but still want some say on where their money is going. M1 Finance allows investors to choose from any stock or ETF.

Unlike robo-investors, you’re not restricted to their pre-selected ETFs, but they do offer preset templates for beginners. You can also set up recurring automatic deposits on a weekly or monthly basis, or any custom time frame you desire.

Pricing

Free of charge; 

$100 minimum to open an account and $500 minimum to open a retirement account.

Pros

Less effort

Cons

Lack of control

Fees

Ability for “true” profit (accounting for inflation, etc)

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Taking tips

Everyone, especially as of late, is looking for the next big score.

The advent of investing apps and low to no commissions has flooded the market with people wanting to make a quick profit.

Profit is not bad and tips are not bad. Inherently

It is only when desire for profit leads to blind tip taking

The mind will then start to create a reason for the tip. False support for the action.

It’s a drug. It’s exciting. IT’S GAMBLING.

Research is golden.

Like I said before, tips aren’t inherently bad. Blindly taking them is.

If in your research or educational journey, someone you follow shares insight on an opportunity or shares their watchlist….RESEARCH

Why? If you take Bob’s tip to buy or sell, now you’re trading/investing based on Bob’s style. Which means if Bob isn’t there, what do you do?

Similarly, if you’re trading based on a discord group, Facebook group, or a Motley Fool type service..what happens when you don’t have them.

What if Bob didn’t even research but instead got a tip from someone else. Now you’ve gotten a tip from a tip. Who was the original source and what did they see? What was their reason for telling Bob?

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Secret Leaders IG

Yourheights.com

Dan Murray-Serter IG

CEO and Founder of Heights, the brain supplement company, Dan Murray-Serter

Use code “marketadventures” 1 word, to get $10 off

Forget taking loads of different supplements. Say hello to the Smart Supplement—the 20 essential nutrients for a healthy brain and body. Heights. Easy to take. Easy to remember. Easy to give your brain and body exactly what they need.

DESIGNED BY NEUROSCIENTISTS AND DIETITIANS, BECAUSE YOUR BRAIN DESERVES EXPERTISE.

Dissatisfaction and passion can both lead to burnout

Are you being fulfilled?

Does your passion make you want to work nonstop?

Be proactive

Eat the frogs

Scheduling

Making time for yourself in the schedule, NOT WORK

Getting hardest things of the week out of the way

Having the right tools to handle the situation when they arise

Value of laughter

Jellitology

Help remove stress

Brain care > aesthetic care

Follow people that give you positive feelings  

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CEO and Founder of Heights, the brain supplement company, Dan Murray-Serter

Secret Leaders IG

Heights Brain Supplement (yourheights.com)

Use code “marketadventures” 1 word, to get $10 off

Forget taking loads of different supplements. Say hello to the Smart Supplement—the 20 essential nutrients for a healthy brain and body. Heights. Easy to take. Easy to remember. Easy to give your brain and body exactly what they need.

DESIGNED BY NEUROSCIENTISTS AND DIETITIANS, BECAUSE YOUR BRAIN DESERVES EXPERTISE.

Background in marketing and advertising

1st business success Grabble

Realizing when the business has run its course. When it’s time to call it quits

Understand the true value of partnerships

He and his lifelong business partner have a chemistry that make the process that much more practical

1 likes challenge of business : 1 like challenge of experience and relationship

Imposter syndrome

Fight back by focusing on your strength

Although he wasn’t a medical expert, he has an ability to commit to learning

Writing, branding and storytelling of own experience allows you to be true to what you say and feel less like an imposter

Men have trouble admitting mental health

Strength is the willingness to be vulnerable

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Find Both Books HERE. Secret of the Ages & Reminiscences of a Stock Operator

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WHAT’S THE KEY: Learn → test → “perfect” → Scale up = $$$

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Beginner's Stock Investing Course

Free Audiobook

Stocks pull back a bit from last week’s rally as investors rotate out of Tech stocks, more positive vaccine news as Canada has now approved the Pfizer vaccine after the UK approval, Facebook and other Tech giants are STILL being sued, and (most important to me) The EU passed another Coronavirus relief bill! Hopefully this puts some pressure on the US to do the same ...In this episode we talk about...

Mindset

Admit shortfalls and commit to family wealth building

Family budget, financial management plan

Books, audio, courses

Assets

Buy a stock for christmas

Invest in a REIT

Put together a plan to purchase a rental property and start the process

Collect list of agents, commit to driving around to look at properties, etc

Buy a vending machine, atm, etc. 

Call or text me directly at 786-254-1413

Instagram @marketadventurespodcast

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WHAT’S THE KEY: Learn → test → “perfect” → Scale up = $$$

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The Level Up REI Podcast

Free Audiobook

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What are the rules? Who are the other players? How do you win?

2 ways money is earned?

Buying and selling

Buy low-sell high

Sell high-buy low

Numerous ways, but those 2 underline each

Spreads, all forms of options, etc

Dividends

definition

Stock definition

Trading vs investing

Day-trading

Swing-trading

Option

Investing

Dividends

Equity, ownership

Wealth protection

Instagram @marketadventurespodcast

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WHAT’S THE KEY: Learn → test → “perfect” → Scale up = $$$

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This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app