There are many things you can invest in.
Your Practice (of course), real estate, the stock market, bitcoin, and much more!
Recently I interviewed Michael Zuber, author of One Rental at a Time.
Here is a quick excerpt from our podcast (https://yourpracticegrowth.com/podcasts).
“You know, that was about an 18-month journey from trough to peak to trough, and I realized that it wasn’t Warren buffet, even though in the middle of that, I felt like I was smarter than everybody else. So I humbly walked to a Borders bookstore in early 2000.
And I found a little purple book, and it was called Rich Dad, Poor Dad.
I read (it) 10, 11, 12 times back to back. And it changed my mindset. It introduced a concept that I am still embarrassed to say I didn’t know and that was a rental property. But it didn’t tell you how. It doesn’t tell you how to do it. It just talks about a condo in Oregon and a condo in Hawaii that Kim and Robert got at the beginning.
So I spent the next year trying to figure it out and ultimately started buying rental properties… I happen to live in the most expensive part of the world, the Bay area. And I couldn’t make it work here. So I ended up finding a market two and a half hours away in Fresno, California.
And I have been investing there ever since the book. So the book gives you more details about our beginning but tells you the 15-year journey from the first purchase. Through financial freedom, which for us was 15 years, we replaced two six-figure incomes. We started, before the crash, we got out of housing, into apartments (using) 1031 exchanges.
We were buying hand over fist in 2010… The wife exited about six years ago now, and I left about three years ago now. And you know, I have spent the last three or four years trying to help people see the power of, you know, rental properties.”
The moral of the story? You can invest in many things, but whatever you invest in, be patient and follow the process.
Then return the favor and teach others how to do it. That is why we enjoy sharing this blog with you.
Have a great week!