Mindful Money 027: Terrie Schauer - Real Estate Investing, Building Mindful Wealth & Getting to Enough
Terrie Schauer is a property manager, real estate investor and property-management coach with over twenty years of experience. She holds a Masters and PhD from Oxford and a PhD. She is the leading authority on applying mindfulness principles to real estate investing, and has written the #1 bestselling book on the topic, Mindful Landlord .
Today, Jonathan and Terrie discuss real estate investing, mindful wealth and the concept of getting to ‘enough.’ Terrie reflects on her own entrepreneurial journey, struggling with privilege and advice she has to offer on holistic wealth, financial freedom, and investing.
📺 Watch on YouTube
Key Takeaways
01:06 – Jonathan introduces today’s guest, Terrie Schauer, who joins the show to share the lessons her father instilled in her about money and entrepreneurship
06:10 – Struggling with privilege and earning success
11:29 – How Terrie got involved in property management and real estate investing
18:18 – The Mindful Landlord
20:58 – The type of real estate Terrie invests in
23:03 – Recognizing and getting to ‘enough’
27:55 – Terrie provides the single most important piece of advice that led to her success
30:38 – One piece of real estate investment advice to avoid
34:54 – Terrie’s next project
36:16 – The last thing Terrie changed her mind about and one thing that she would like people to know about her
37:39 – Jonathan thanks Terrie for joining the show and let’s listeners know where to connect with her
Tweetable Quotes
“My dad used to say two things. The first sentence was, ‘In life you can be a hammer or an anvil. Be a hammer.’ And the other is, ‘If you want more money, make more.’” (04:43)
“As an investor, I’m also very transparent about the fact that I started investing with my parents’ money and then that turned into something else after a while. But, I went to see dad for the down payment, and it was dad who co-signed my first couple mortgages. So I had an easier road through that than a lot of people who don’t have that support.” (10:48)
“Coming from a combat sport/martial arts background, if you want to succeed in that environment, your mindset has to be so clean. And I really went through a ten year development period where I was building my martial arts career. But at the same time you have to build your mind into something very strong.” (19:42)
“Getting to enough has nothing to do with luck in the sense of being cognizant of it. I think that we live in a context that’s always trying to push us for ‘more, more, more.’ So, how did I know what was enough? Well, it was a lot of work. It was a lot of introspection and a lot of mindfulness.” (23:26)
“And so it’s not about the dollar figures. It’s about what network are you gonna build and are you gonna get the specific knowledge that you’re gonna be able to implement in your market. And then the best way of doing that is talking to previous grads of whatever program it is.” (32:40)
Guest Resources
The Real Estate Investing Club Podcast
Mindful Money Resources
For all the free stuff at Mindful Money: https://mindful.money/resources
To buy Jonathan’s first book - Mindful Money: https://www.amazon.com/Mindful-Money-Practices-Financial-Increasing/dp/1608684369
To buy Jonathan’s second book – Mindful Investing: https://www.amazon.com/Mindful-Investing-Outcome-Greater-Well-Being/dp/1608688763
Subscribe to Jonathan’s Weekly Newsletter: https://courses.mindful.money/email-opt-in
Capture the most important benefit of an advisor – behavioral support – without the 1% fee: https://courses.mindful.money/membership
For more complex, one on one financial planning and investing support with Jonathan or a member of Jonathan’s team: https://www.epwealth.com/our-team/berkeley/jonathan-deyoe/
Website: https://mindful.money
Jonathan on LinkedIn: https://www.linkedin.com/in/jonathandeyoe
🎙️
Podcast Production & Marketing by FullCast