Ritter on Real Estate Reverse Engineering the Wealth-building Strategies of the Rich with Lane Kawaoka
The traditional methods of building wealth, like investing in postgraduate degrees, working for up to 50 years in your W2 job, and putting money towards your 401(k) mutual funds are all good and well, but they’re not the best strategies out there. Why not begin with the end in mind and have multiple streams of income today? Today’s guest, Lane Kawaoka, can help you do just that. Lane uses his engineering degree to reverse engineer the wealth-building strategies that the rich use in his top 50 investing podcast, Simple Passive Cashflow. He owns 4,200 rental units and is the leader of the Hui Deal Pipeline Club, which has acquired over $350 million of real estate by syndicating over $40 million of private equity since 2016. In this episode, Lane shares his advice for doing what the rich do by diversifying into real estate and investing with private operators, and he explains why he believes you should not invest in retirement accounts, how taxes play into your investments and his three rules for investing. Tune in today!
Key Points From This Episode:
- Hear about Lane’s background and what sparked his interest in passive investing.
- Lane’s journey from his first passive investment to a business and a podcast about it.
- How the podcast originated because of the “dumb questions” his friends asked him.
- The virtual events that have adapted to COVID and the limited time of those with families.
- Do what the rich are doing by diversifying your investments into real estate.
- The benefits of investing with private operators and cutting out the middleman.
- Four reasons why Lane believes you shouldn’t invest in retirement accounts.
- How taxes play into real estate investing; using your passive activity losses to offset passive income gains from an asset or deal.
- Some of the lessons Lane has learned along the way, like letting every dollar work for you.
- The importance of educating yourself on the benefits of using podcasts and blogs.
- Why Lane believes that anybody can do real estate investing; it’s an endgame strategy.
- Lane’s three rules for investing: it must cash flow, be a hard asset, and be leverage-able.
- Keys to Success: the value of building organic relationships, why Lane is so proud of quitting his day job, and book to read.
- Lane’s one key to success: figuring out the next thing to do and executing it to completion
Links Mentioned in Today’s Episode:
Simple Passive Cashflow Podcast
The Millionaire Real Estate Investor
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Production by Outlier Audio