393. How to Take a Measured Approach to Success

May 18, 2023

Are you prepared to take calculated risks and leverage your assets for long-term prosperity?

In this episode, Brian Penn stresses the importance of taking a measured approach to investing in real estate and avoiding overextending oneself. He shares an example of someone who had gone "whole hog" into real estate and had to buy his house out of foreclosure. His advice is to make sure every deal works in a positive way for you, cash flow at least breakeven, and get tax deductions at the end of the year. Brian touches on the importance of taking measured risks to avoid ending up penniless and stresses the importance of leveraging assets into appreciating ones. Let's dive in!

[00:01 - 04:04] Opening Segment

• The importance of taking a measured approach to investing in real estate

• It is possible to make a lot of money in real estate, but it is also possible to lose a lot of money if overextended

• Be aware of having enough reserves and not acting like a mortgage broker without a license

[04:05 - 08:15] Mitigating Risks and Understanding Exposure

• Have a plan B and C to understand your level of exposure

• Mitigate risks by understanding the sides of those risks

• Be aware of asset classes that are more exposed to market dynamics

• Don't go "hog wild" and take significant risks

[08:16 - 11:04] Leveraging Assets and Mitigating Risk to Avoid Dying Penniless

• Brian shares his investment philosophy

• How Brian's grandfather made a fortune in mattresses but ended up penniless

• How to leverage what you have into an appreciating asset

[11:05 - 13:53] Closing Segment

• Make sure to check Real Estate Success For You

• International and Chinese real estate investment

Connect with Brian:

Website: Real Estate Success 4 U

Key Quotes:

“If you don't take a very measured approach to investing in real estate, you can get hurt very badly.” - Brian Penn

“Be prepared for the bad times. It's probably not going to happen that often, but it will happen to you.” - Brian Penn

“If you can find a way to leverage what you have into an appreciating asset instead of a retirement pension, you're going to do better off in the long run.” - Brian Penn

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