Rich on Money

I had a very interesting path from military officer to financial independence. It's definitely not a get rich quick story. It's really a story of making more, spending less, and investing the difference like a boss. I maxed out retirement accounts as well investing wisely and consistently in brokerage accounts and, of course, real estate. Interestingly enough, I paid off my primary residence, and my first 20 investment properties were paid off 15 years into my military career. On one income.

Let's talk through all the ways to legally cheat on your real estate when you sell. I'll cover the capital gains exclusion for primary residences, the 1031 exchange for investment properties, and to top it off, the stepped up basis strategy for paying no taxes on your real estate when you die. We'll also go over truth vs hype when it comes to LLCs!

Here is the entire closing process for a property that is purchased from a realtor's perspective. This goes all the way from making an offer, to a signed purchase contract, to actual closing. We will discuss inspections, title work, appraisal, and everything else along the entire process. You'll understand all the steps necessary to buy or sell a house and you'll probably know more about the process than most realtors do!

Perfect for new or newer realtors, but this is great for anyone.

I talk about the pros and cons of getting your real estate license - becoming a realtor, as a real estate investor. I talk about the costs associated with it, and what I've learned working as a real estate agent and realtor the last two years.

What happens if one of your rental properties catches on fire?

Or in my case, two or three fires over the course of a real estate investing career.

I'll talk about all aspects you need to consider in dealing with the insurance loss of a fire.

From dealing with tenants, renters insurance, your landlord policy, the fire department, and the city permit office. I'll give you everything you need to know to successfully deal with this difficult issue.

Stop getting ripped off by these investment advisors or money managers and their high fees.

I'll teach you about the most common fees they charge. You'll see how paying these fees can result is 7-figure losses over an investment lifetime!

Don't give all that money to a damn investment advisor. You can do it yourself and even make more money.

I'll show you what you should do with your money instead.

These are the 6 dangerous red flags that you must avoid if you are going to make money in real estate investing.

If you want to be a successful landlord, you need to avoid dangerous tenants, and anyone that falls into one of these six categories is a great place to start.

At the end of the day, having good rental criteria is the most important thing for being successful as a landlord.

This list will help you.

Here is the best money advice for teens you can get.

Warren Buffett and the S&P 500 index. That's the secret. I'll show you exactly what to do with that info.

Stay away from the lame hype like day trading and crypto.

Save early and often and retire with millions.

This is just me spouting some stories about various mistakes I've had in my life.

I think of these as some of the best things that have ever happened to me, because I learned from it.

In fact, if anything, I haven't failed enough in life. The most successful people try and fail a lot before they hit the things that work.

This is a podcast episode that is basically a collection of stories from my life.

Some are taken from my time in the military.

While I pretend I'm hoping to draw important lessons from each of these stories, I really just felt like telling these stories.

Who knows, maybe my girlfriend actually listens to these!