Passive Wealth Principles

In this episode of Passive Wealth Principles: What I Learned, join your host Jake Harris as he delves into an enlightening conversation with Brian Luebben. Discover Brian's journey of breaking free from the corporate world and pursuing a lifestyle of financial and location independence. Together, they explore valuable insights and actionable strategies for building passive wealth.

Key Takeaways from the Episode:

• Aligning Goals with Lifestyle:
• Brian's realization that climbing the corporate ladder wasn't aligned with his desired lifestyle. He explores real estate investing and generating passive income through house hacking. Learn how he built a geographically independent and scalable business that allows for travel and freedom.
• Active Income vs. Passive Income:
• Embracing the idea of active income as a foundation for passive wealth. Understand the significance of actively building a business while keeping lifestyle goals in mind. Discover the balance between active income and geographic independence with remote work opportunities.
• The Journey of Growth:
• Recognizing that growth comes with challenges and personal development. Brian shares his experiences with panic attacks and existential crises during his journey. Embrace the concept that the best games in life are not winnable and require continuous effort.
• Strategies for Success:
• Start with active income and gradually work towards passive income. Build a strong foundation and implement systems for consistent and predictable results. Brian recommends resources for personal growth, including "The Buddha and the Badass" and "Essentialism."

What You’ll Learn in this Show:

• How to align your goals with your desired lifestyle.
• The importance of active income in building passive wealth.
• Strategies for overcoming challenges and embracing growth.
• Tips for building a geographically independent and scalable business.

Stay Connected:

• Visit https://passivewealth.com/ for upcoming content and courses.
• Join the Passive Wealth Tribe Facebook group for engaging discussions and networking opportunities. - https://www.passivewealthtribe.com/group
• Follow Jake Harris on Instagram for additional insights and updates. @jake.realestate

Conclusion:

Tune in to this thought-provoking episode of Passive Wealth Principles: What I Learned to gain valuable insights and inspiration from Brian Luebben's journey towards building passive wealth. Remember, active building can pave the way for financial independence and the lifestyle you desire. Keep striving and building towards your goals.

Fed up with seeking others' approval and feeling trapped by society's rules? Want to shape a life and business that truly reflect what you care about? In this Passive Wealth Principles podcast episode, Jake Harris chats with Brian Luebben, an entrepreneur and the voice behind the Action Academy podcast. Brian shares how he journeyed toward financial independence and the freedom of working anywhere. His key advice? Be clear about your dreams and then make them happen. It's not just about picking the right way to make money, but knowing where you want it to take you. Brian suggests finding what you love and turning it into a business, while also enjoying the journey and gaining new skills. So if you're ready to set a clear direction for your life and take bold steps to reach your goals, don't miss this uplifting episode!

In this new "What I Learned..." episode of the Passive Wealth Principles Podcast, Jake Harris breaks down his interview with Chris Seveney, the CEO & Founder of 7e Investments. With over 25 years of experience in the real estate industry, Chris is a wealth of knowledge in the field of note buying and distressed debt. 

As always, Jake dives deep into their conversation to uncover the key takeaways and insights shared by Chris in his interview. 

He highlights Chris's expertise in acquiring distressed debt at discounted prices and restructuring them into performing assets. Despite challenges in the industry, note buying can still be lucrative when approached strategically.

He also talks about the three P's of underwriting: property, person, and predicament. Evaluating the property's condition, understanding the borrower's circumstances, and assessing the underlying predicament are crucial for successful note investments.

You will find out that note buying offers passive investment advantages, as investors are not responsible for property management or tenant issues. Jake explains how vacant properties can increase their value and shares tips on due diligence to avoid scams and identify reliable borrowers.

Throughout the episode, Jake also talks about loan types, workout systems, and the role of asset managers in note buying. 

Join Jake in this enlightening episode of the Passive Wealth Principles Podcast to uncover valuable insights into note buying and passive wealth-building strategies from Chris Seveney's interview.

Listen now to find out more!

What You’ll Learn in this Show:

• Distressed debt and note buying can offer opportunities during times of bank failures and high-interest rates
• Buying notes allows investors to avoid the responsibilities of property management and tenant-related issues
• Due diligence is essential to identify scammers and ensure a successful note investment
• Learning about different types of loans and how they work is important for successful note investing
• And so much more…

On today's episode of the Passive Wealth Principles Podcast, Jake Harris interviews Chris Seveney, the CEO & Founder of 7e Investments. Chris is a real estate professional with over 25 years of experience. He has a successful track record in building multimillion-dollar portfolios through property construction and rehabilitation. 

Since 2016, Chris has focused on investing in mortgage notes, acquiring over 500 notes valued at over $25 million across forty states. He holds a bachelor's degree in Civil Engineering from Worcester Polytechnic Institute and a Masters in Real Estate Finance from Georgetown University. Chris is known for his honesty, integrity, and professionalism in the industry. He hosts the podcast Creating Wealth Simplified and is a top-ranked contributor on the site Bigger Pockets.

During the episode, Jake and Chris delve into the intriguing world of note buying. They discuss the advantages of note investing, particularly its passive nature and the potential for generating steady income. 

Chris shares stories of both successful ventures and challenges he has faced in the note-buying space. They explore instances of scams related to the foreclosure process and note buying, including a case involving a former professional athlete. 

The conversation concludes with a focus on the nitty-gritty details of Chris's approach to working with distressed notes, turning them into performing assets and adding value for investors.

Enjoy!

What You’ll Learn in this Show:

• How note-buying aligns with a more passive investing lifestyle compared to other real estate ventures
• The challenges of owning properties
• The potential for both active and passive involvement in note buying
• Building a strong team is crucial in the note-buying business
• Investing in systems and software is important for scalability and efficiency.
• A crazy note-buying story involving scammers and attorneys.
• And so much more...

Resources:

7einvestments.com 

Biggerpockets.com/users/7einvestments 

Podcast: Creating Wealth Simplified

Youtube Channel

Chris’ LinkedIn

Twitter: @ChrisSeveney

Email: [email protected]  

Books

The 6 Types of Working Genius: A Better Way to Understand Your Gifts, Your Frustrations, and Your Team

On today's episode of the Passive Wealth Principles podcast, Jake flies solo to answer some of the many questions listeners have had concerning recent financial news. You're no doubt aware of the crisis currently facing the US banking system, from the failure of Silicon Valley Bank and Signature Bank, and the collapse of Bitcoin. Jake is also going to discuss some questions he's received on the concept of passive real estate investing. This is an episode you do not want to miss.

Join Jake for this fascinating discussion.

Enjoy!

What You Will Learn in this Show:

• The pros and cons of syndications and funds.
• Crowdfunding as an alternative for passive investing.
• The concept of an accredited investor and the criteria for becoming one.
• The options available to non-accredited investors.
• And so much more...

Resources:

Jake Harris website

In this new "What I Learned..." episode of the Passive Wealth Principles Podcast, Jake Harris breaks down his interview with Charles Kao, a successful real estate investor and entrepreneur.  As always, Jake shares some of the insights he gained from his fascinating conversation with Charlie.

You will find out more about Charlie’s incredible professional journey (starting from working on his father's real estate projects during his childhood to acquiring sophisticated investment experience in the Fortune 500 world, and ultimately establishing his successful investment portfolio) as well as about some challenges he had in his personal life.

You will learn that patience and persistence are essential to building a successful real estate investment portfolio. You will also find out that building a strong team and leveraging industry professionals is crucial to success.

Another valuable lesson from the interview is the importance of building a team of trusted advisors, including attorneys, accountants, and property managers. Kao explained that having a strong support network can help investors navigate the complexities of real estate investing and make better-informed decisions.

He also discussed his approach to property management, which involves creating a positive tenant experience through regular communication, responsive maintenance, and fair pricing. He emphasized that treating tenants well can help reduce turnover and improve the profitability of a real estate investment.

Listen now to find out more!

What You’ll Learn in this Show:

• The importance of thorough market research before investing in real estate
• How to build a team of trusted advisors to navigate the complexities of real estate investing
• The value of prioritizing tenant satisfaction for long-term profitability
• The evolving landscape of real estate investing, including the role of technology and new investment vehicles
• The importance of staying informed and adapting to changing market conditions to maximize returns.
• And so much more...

Resources:

Charlie Kao | The Importance of Values and Priorities in Real Estate Investing

On today's episode of the Passive Wealth Principles Podcast, Jake Harris interviews Charles Kao, a real estate investor with an eight-figure portfolio of investments in self-storage, multifamily and other properties. 

Charlie shares his journey from working on his dad's real estate projects as a child, to gaining sophisticated investment experience in the Fortune 500 world, and finally building his own successful investment portfolio.

During the interview, Jake and Charlie discuss how his business model and employee structure have changed over time, with a focus on key investment principles that have helped him achieve success in real estate. 

Jake and Charlie also dive into some of the personal challenges that Charlie has faced, including a cancer diagnosis, and how these experiences have influenced his approach to investing and life more broadly. Charlie shares his strategies for coping with difficult situations while still maintaining focus and productivity, the importance of a strong support system, and the ways in which personal experiences and values can shape one's approach to real estate investing and business in general.

You will gain valuable insights into Charlie's investing style, including how he built his real estate portfolio while still working a high-income W-2 job. 

Tune in to this episode and learn from Charlie's experience and expertise in the world of passive wealth principles!

Enjoy!

What You’ll Learn in this Show:

• The role of Charlie's corporate experience in preparing him for success as a real estate investor.
• The types of properties that Charlie focused on early in his investing career, and how his strategy has evolved over time.
• The importance of work-life balance for Charlie and how he has achieved it through his real estate investments
• The ways in which personal experiences and values can influence one's approach to real estate investing and business in general
• And so much more...

Resources:

Twinoakscap.com 

Twin Oaks Capital YouTube Channel

Books

Maximum Achievement

In this new “What I Learned...” episode of the Passive Wealth Principles Podcast, Jake Harris breaks down his interview with Kurt Buchert,  a real estate investor who became a Certified Financial Planner (CFP) after graduating from Louisiana State University with a Bachelor's degree in Finance, Real Estate and Commercial Banking.

As always, Jake shares some of the insights he gained from his fascinating conversation with Kurt.

You'll find out a little bit about Kurk’s journey into the real estate investing world and how he started his career as a house hacker before "house hacking" was actualy a thing.

Jake will also talk about the crucial importance of building systems for your business and some of the huge life hacks that allowed Kurt to save a lot of valuable time

You will also learn more about the concept of “who not how” and why we should not ask ourselves the question of how do we do it, but who could do that for us and create effective systems that ltimately allow us to work on the business, not in the business.

Jake will also talk about some of the systems that Kurt uses now for managing his rental portfolio and so much more.

Listen now and enjoy!

What You’ll Learn in this Show:

• A little bit about Kurt’s story and professional background
• What “house hacking” means and how Kurt became a house hacker at the beginning of his real estate career
• The crucial importance of building systems for your business
• Some huge life hacks that allowed Kurt to save a lot of valuable time
• About the concept of “who not how”
• And so much more...

On today's episode of the Passive Wealth Principles Podcast, Jake chats with Kurt Buchert, a real estate investor. Kurt became a Certified Financial Planner (CFP) after graduating from Louisiana State University with a Bachelor's degree in Finance, Real Estate and Commercial Banking. Fun fact: Kurt was the youngest CFP in Louisiana at the time. After achieving financial freedom at age 30 and taking a year off, Kurt realized he needed a purpose, and that was investing in real estate.

He talks about his journey into real estate investing. He also talks about how his spray foam business failed in the first 60 days, how he turned it around, and the important lessons he learned after selling it for pennies. You'll learn about his $5,000 gold bet. He'll also share practical strategies to make Airbnbs more profitable and his successful system as a virtual landlord.

Kurt is also a voracious reader. He'll explains how reading has had the biggest impact on his success, and recommends 'The Psychology of Money' by Morgan Housel, among many other books. He'll go into the process of hiring an au pair and explains why it was the greatest decision.

Join Jake and Kurt for this fascinating discussion on the path to achieve financial freedom by 30, house hacking, and stock market investing.

Enjoy!

What You’ll Learn in this Show:

• About his professional background. 
• The importance of building a saleable business. 
• The day-to-day life of a real estate investor.
• Why you should avoid individual stocks.
• How reading has had the biggest impact on his success. 
• And so much more...

Resources:

Kurt Buchert

In this new "What I Learned..." episode of the Passive Wealth Principles Podcast, Jake Harris breaks down his interview with Cody Littlewood, an entrepreneur and investor. Cody is a software programmer and designer. He has worked with leading commercial real estate companies, including JLL and PropertyRadar.

As always, Jake shares some of the insights he gained from his fascinating conversation with Cody.

You'll learn more about Cody's entrepreneurial journey, which started at a young age, his career background, and how he got started in real estate investing. Cody has a private equity real estate firm that focuses on multifamily properties in the Southeast.

Jake talks about Cody's tax principle of passive wealth and the approach Cody recommends for businesses, similar to coding. He also discusses digital nomads, specifically Cody's fascinating experience living in Argentina while earning US dollars.

 Listen now and enjoy!

What You’ll Learn in this Show:

• Why Jake loves travel and food.
• How to write your taxes in a big lump sum.
• The reality of hacking.
• The importance of a systematic approach to problem-solving.
• What you can do to learn more about passive wealth.
• And so much more...

Resources:

Cody Littlewood LinkedIn