Breakaway Wealth: Episode 21 – One of the most powerful paths to financial freedom is real estate, and just about anybody can do it. What are some of the misconceptions people have about investing? Why is raising money for real estate a lot easier than people think? What are the biggest mistakes investors make?
On this episode, real estate investor, entrepreneur, and author, Mike Conlon shares on his path to financial freedom and why real estate is the perfect wealth-building vehicle.
“If you start small, it’s hard to make a big mistake.” –Mike Conlon
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Three Things We Learned from this Episode
- Traditional so-called “wealth building strategies” don’t make you wealthy
The truth about the stock market, 401ks, and the buy-and-hold strategy is that it’s better than doing nothing, but it isn’t the best option. You’ll never get wealthy. You’ll have just enough money to live, but not your ideal lifestyle.
- Why there’s a huge opportunity to raise capital for real estate investments
The number of people looking to get out of the stock market is high right now, and those people are looking for alternatives. Real estate is perfect for that. If you’re in it, those people can become your investors and partners.
- Locations to avoid when it comes to investing deals
Don’t invest in small one-company towns. If the company closes down or relocates, that will affect you and jeopardize your investment.
Real estate investment is one of the best ways to break away from the conventional money-making methods that don’t really help you get wealthy. With a recession looming, the opportunities in investing will rise, and the ones that will win are the ones that are ready to take action immediately. If your money is tied up in Wall Street, you won’t be able to deploy it when the opportunities arise. You can start investing right now. Just get in the game, take action, and you’ll be able to take advantage of the downturn.