Equity Rich or Cash Rich - Which is Better? | Episode 34

In the 34th episode of the Pull the Trigger Podcast, Dan Crosby and Scott Innocente discuss a quote they recently saw from a so-called "guru", and share the many reasons they do not agree with it. Using examples taken from personal experience, Dan and Scott share some insight on why being cash-rich is not always the best decision, and why there is nothing wrong with being equity-rich as a real estate investor.

Hi I’m Scott Innocente, a real estate investor and investor-focused real estate agent in Windsor Ontario.  A little about myself, I worked at a government job for 11 years, needless to say, I was unfulfilled.  I was caught with the terrifying prospect of working at this job for 35 years and retiring having never gained financial freedom.  I thought about ways to get out, another job, maybe?  But every time I thought of another job, the same problem reared it’s ugly head: 35 years of working for somebody else all for a relatively mediocre paycheck.  I realized that I didn’t want another job, I wanted something for myself, something challenging, exciting, and something potentially lucrative. I stumbled upon Rich Dad Poor Dad and that was the beginning of a shift in my mindset.  I finally realized that there was another way.  I didn’t HAVE to work for 35 years.  I didn’t HAVE to stick it out a job that was unfulfilling to me.  I didn’t HAVE to stay in the middle class forever.  I CAN get out of the rat race if I just do a few specific things, buying real estate being one of them.  Once my mindset shifted, it was over, I could never look back. I started buying real estate in 2016.  I set a goal for myself of $4000/month of passive income and I’m 75% of the way there.  I got my real estate license in 2017, I quit my job that same year and started helping others see the light and achieve their dreams of financial freedom.  Dan and I have since started collaborating to help others “pull the trigger” on life, to stop thinking and start doing. It’s all about mindset, if you can just get the click to happen, it’s over.  One the click happens then it’s a matter of PULLING THE TRIGGER.  Once you start pulling the trigger, then financial freedom becomes simply becomes a matter of time.  I’m here to help you get that click, and once you get the click, I’m here to help you accelerate your mindset shift to higher and higher levels, because mindset and action is what it’s all about.

Here's a little about Dan:

Dan Crosby is a real estate investor, serial entrepreneur, and car enthusiast. Dan is the founder and CEO of Canadian Protein, one of Canada's largest e-commerce supplement brands with a market capitalization of more than $100 million, and Coachwood Capital, a real estate investment firm with more than $100 million in assets under management.  Dan also owns Coachwood Golf & Country Club as well as the limo company Luxxis VIP.   Dan discusses business advice, entrepreneurship, and the mindset that led him to a $200 million net worth and how he plans to get to $1 BILLION on this channel.  Follow Dan on his path to a $1 BILLION net worth!   Links to Dan’s businesses:  https://linktree.com/dancrosbyceo