Really Simple Investing Podcast
If you're a young professional looking to build long-term wealth through simple investing strategies, or simply improve your money management skills, the Really Simple Investing podcast is for you. This podcast is for listeners seeking long-term financial well-being. If you are looking for uncomplicated strategies for investing, listening will provide you with insights and advice from experts in investing, financial literacy and personal money management.
The Really Simple Investing Podcast is dedicated to interviewing investors, authors, and leading financial authorities to provide listeners with straightforward and accessible ways to invest in stocks, bonds, mutual funds and exchanged traded funds. Plus, the podcast brings you insights from experienced traders in commodities, futures, options and even cryptocurrency.
You will be learning from successful investors' experiences, gaining insights into income-focused investing, and understanding low-risk quality investment opportunities like buying quality dividend paying stocks, holding index funds and income producing real estate.
The focus is on providing accessible investment strategies that build lifelong portfolios, achieve financial security and independence. If you are new to investing or simply want to learn more, listening to the podcast each week will bring you access to experienced investors, traders and educators who break down investing principles in ways that make it easy to start building wealth, even if you are starting at zero.
Really Simple Investing Podcast
Winning Strategies for Real Estate Investing And Why You Need Asset Protection
In this podcast we talk with Scott Smith, a real estate investor and asset protection attorney. Scott shares his journey into the legal field and how he got involved in real estate investing. He explains how he started investing in real estate while working as an attorney and eventually transitioned to full-time investing.
Scott Smith, with his background in law, realized the importance of asset protection while practicing as an attorney. He started investing in real estate to pay off his law school debts and found success in commercial properties. His goal wasn't just to become wealthy, but to achieve financial freedom that would allow him to pursue his passions, like mountain climbing and traveling.
Scott’s investment strategy, includes investing in commercial properties and syndications. Scott advises investors to focus on mastering one investment strategy before diversifying and to be cautious during market cycles.
Scott explains his initial focus on commercial properties and 1-to-4 rental unit buildings, and how his strategy evolved over time to primarily investing in syndication properties. He emphasizes the need to find experts in specific asset classes and diversify one's portfolio.
As Scott progressed, he shifted towards investing in syndication properties. He emphasizes the need to stay focused and master one lane of investing before branching out. Instead of syndicating his own deals, he works with syndication attorneys in his firm to help others structure their deals. By investing as a limited partner in specific asset like self-storage or gas stations, Scott diversifies his portfolio without the need for hands-on management.
One key takeaway from the episode is the importance of finding experts to invest in and the criteria for selecting them. Scott compares it to making a good hire as a business owner, highlighting the need for experience and a proven track record. Avoiding incorrect choices in investments not only prevents financial losses but also reduces high attrition rates.
When it comes to investing in syndication deals, Scott sheds light on the minimum cash amounts required. While he has seen syndications with minimum buy-ins around $50,000, he cautions against operators who are willing to accept less. Accepting lower amounts may indicate desperation on the operator's part, potentially leading to complications and challenges down the road.
Why Asset Protection Is Important
Asset protection, is a crucial aspect of maintaining and safeguarding wealth. Scott shares a personal story about a friend who lost $3 million in a lawsuit despite having insurance. This experience opened his eyes to the need for asset protection. He emphasizes that asset protection isn't limited to real estate deals but extends to partnerships, brokerage accounts, cash, and other assets.
Scott provides insights into retirement plans like IRAs and 401(k)s, explaining that while they offer some protection, they can still be vulnerable to lawsuits related to specific assets held within them. Scott also highlights the importance of estate planning and passing on wealth to future generations.
LinkedIn: https://www.linkedin.com/in/scott-royal-smith/
Twitter: https://twitter.com/royal_legal_law
Facebook: https://www.facebook.com/ScottRoyalSmithRLS
Instagram: https://www.instagram.com/royal.legal.solutions/
Website: https://royallegalsolutions.com/
YouTube: https://www.youtube.com/c/RoyalLegalSolutions
Learn how to make investing simple for anyone and get on a path toward wealth.
