The BetterLife Podcast: Wealth | Real Estate Investing | Life
#35: Brody Fausett
Episode guests
Podcast summary created with Snipd AI
Quick takeaways
- Having a clear vision of your dream lifestyle will serve as a strong motivation and guiding force throughout your real estate journey.
- Reverse engineer your goals by determining the amount of passive income needed to live your dream lifestyle.
- Assess your current financial situation to determine how much you can allocate towards real estate investing and what strategies will work best for you.
- Invest in your knowledge and education in real estate investing to develop a solid understanding of different strategies and take action.
- Surrounding yourself with like-minded individuals in mastermind groups can help you dream bigger, achieve success, and leave a lasting impact.
Deep dives
Step 1: Define Your Dream Lifestyle
Start by envisioning and defining your ideal lifestyle. What does your dream day look like? Where do you live? What is your work schedule? What does your family life look like? Having a clear vision of your dream lifestyle will serve as a strong motivation and guiding force throughout your real estate journey.
Step 2: Reverse Engineer Your Goals
Take your dream lifestyle and reverse engineer your goals. Determine the amount of passive income you need to live that lifestyle. Break it down into different levels: covering basic necessities, replacing your current job income, and reaching financial freedom. This will give you a clear roadmap to follow and measurable targets to strive for.
Step 3: Understand Your Current Financial Position
Take stock of your current financial situation. Assess your income, expenses, assets, and liabilities. Understand where you are starting from in order to chart your path to becoming a millionaire through real estate investing. This will help you determine how much you can allocate towards investing, how much cash flow you need to generate, and what strategies will work best for you.
Step 4: Educate Yourself and Take Action
Invest in your knowledge and education in real estate investing. Read books, listen to podcasts, attend seminars, and learn from experienced investors. Develop a solid understanding of different investment strategies and choose the ones that align with your goals and resources. Then, take action and start investing in real estate properties that generate passive income and move you closer to your millionaire goal.
Pivot Books: Free to Focus, Millionaire Success Habits, 10x is easier than 2x
Three books that have had a profound impact on my life are Free to Focus by Michael Hyatt, Millionaire Success Habits by Dean Graziosi, and 10x is easier than 2x by Benjamin Hardy. Each of these books has provided valuable insights, practical strategies, and a mindset shift that has propelled me forward in various aspects of my life.
Pivot People: Inspirational Sales Leader
One individual who significantly influenced my life is an inspirational sales leader from early on in my career. He taught me the importance of setting goals and encouraged me to write them down every day. This simple habit has helped me stay focused, motivated, and accountable to my goals.
Pivot People: Supportive Spouse
Another pivotal person in my life is my supportive spouse. Her discipline, dedication, and ability to lead by example have inspired me to be the best version of myself. She consistently demonstrates the importance of perseverance, hard work, and personal growth, which has had a profound impact on my mindset and approach to life.
Surviving the Maui Fires: A Personal Account
The podcast episode features a personal account of a man's experience during the devastating fires in Maui. He describes the chaos and the impact it had on him and his community. The lack of communication during the crisis highlighted the importance of having effective communication channels in place. The episode also highlights the resilience and strength of the community, as well as the role of individuals who stepped up to provide support and assistance.
Dreaming Bigger and Faster: Leaving a Lasting Legacy
In the podcast episode, the guest discusses the importance of dreaming bigger and faster in order to achieve success and make a lasting impact. He emphasizes the value of surrounding oneself with like-minded individuals in mastermind groups, sharing experiences and knowledge. The guest shares his aspirations of leaving a legacy that inspires others to live bigger lives and achieve their dreams, citing the influence of his own grandfather as a role model for hard work and faith.
Brody Fausett is a real estate investor, ultramarathon runner, teacher, and founder of Real Estate Investing School.
In this episode, Brody breaks down how he went from rookie door-to-door salesman to reaching millionaire status before age 30 – and makes the case that you can achieve your goals a lot faster than you might think.
Brody also talks about:
- Running a 174-mile ultra marathon through the desert with his pregnant (!) wife
- How doing missionary work overseas changed his outlook on life
- His experience selling security systems door to door
- How he built massive wealth quickly through house hacking, rent-by-the-room, short term rentals, and other real estate strategies
- Generating over $1M cash from just one house
- Why he takes every Wednesday off work
- Moving his family to Hawaii based on intuition
- His first-hand experience in Lahaina when the wildfires swept through town
- How his wife appointed herself "Director of Distribution" and helped deliver supplies to families displaced by the fires
- Conspiracy theories surrounding the Maui wildfires, Oprah, and blue roofs
- The books, people and quotes that have helped him live a better life
Brody's Charitable Cause:
Mana Mentors, which "mentors young people through surfing and skateboarding to achieve physical, academic and mental health goals" – and which is currently helping with Lahaina wildfire relief*
*All ad revenue from this episode is donated directly to the charity of the guest's choice
Connect with Brody:
- Brody's Instagram
- Real Estate Investing School Instagram
- Real Estate Investing School Website
- Brody and Andrea's Couples Goal-Setting Retreat
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