Try Life On 83: Building Your Personal Economy with Paul David Thompson
Nov 8, 2024
Paul David Thompson, CEO of Real Estate 101 and successful real estate investor, shares his journey from the corporate grind to financial independence through real estate. He discusses using rental properties for passive income, the importance of mentorship, and the strategy of scaling from single-family to multifamily investments. Paul emphasizes the concept of building a personal economy and equity ownership to gain lifestyle control. His insights inspire listeners to rethink traditional career paths and embrace asset-building for freedom.
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From Scarcity To Corporate Comfort
- Paul grew up loved but financially limited and became first in family with a college degree.
- That shift raised his income but left him feeling like he was living someone else’s life.
Buy Income-Producing Assets First
- Buy assets that generate income so you can stop exchanging hours for dollars.
- Start small with a rental, collect rent, and repeat until you build meaningful cashflow.
Learn Through Mentors And Events
- Find mentors, attend conferences, read, and do the homework before scaling.
- Use local mentors as filters to test commitment and accelerate practical learning.
