Afleveringen
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Lauren starts by asking why Vanessa dropped out of college. It turns out, sheâd be considering it for a year, but she felt she wasnât learning anything she couldnât learn in the real world. Vanessaâs father had asked her to join his real estate business, and sheâd finally made the decision to follow in his footsteps. Vanessa then shares her fatherâs story, who invested in real estate on the side while he was a police officer. Eventually, he took that side business full time. Vanessa shares more about what the GW companies do. They buy apartment buildings, renovate them, then refinance aka the BRRRR method. They raise capital to allow others to invest in real estate passively. Then, the two transition to talking about what itâs like to work with a family member. Naturally, Lauren asks about conflict resolution, and is pleased to find out that Vanessa calls her dad by his first name at work. Lauren clearly canât picture doing the same. Vanessa points out that she can ask all the dumb questions she wants. Looking forward, Lauren asks if Vanessa wants to have kids, and what the plan would be as far as them taking over the business. Sheâs also curious about how Vanessaâs boyfriend feels about her working with her dad. Vanessa also shares how the conversation went with her dad when she decided to leave school and come work for him. So, does she recommend working with your parents? Obviously, yes.
If you liked this episode, youâll also like episode 160 Turning Real Estate into More Businesses, in which Josh tells us about he and his partner Antoinetteâs ventures.
About Vanessa:
Vanessa Pannozzo is the Director of Operations/Co-Owner at GW (Generational Wealth) Capital Group of Companies. GW's mission is to create the "Costco", of Real Estate Investing, with a one stop shop for investors who are looking to invest in real estate, on a passive scale. In her 3+years in the industry, Vanessa has played a key role in building GW's property management from the ground up. As a Post-Secondary "Drop Out," Vanessa shares her relatable journey, offering insights into the challenges and triumphs of working closely with family. Vanessa is all about creating a welcoming space for women in the industry to connect, invest, and succeed.
Connect with Vanessa:
https://generationalwealthcreators.ca/
https://www.instagram.com/vanessapannozzo/
https://www.linkedin.com/in/vanessa-pannozzo-20bb5623a/
Connect with Lauren:
https://twitter.com/AdultingIsEasy
https://www.instagram.com/@adultingiseasyreal
https://www.housemoneymedia.com/
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BOY DO WE HAVE A TREAT FOR YOU THIS WEEK! Lauren puts out 2 weekly podcasts, one of course being Adulting Is Easy. The second is called the House Money Podcast. Here's episode 26!
House Money Weekly
In this weekâs House Money Weekly segment, Lauren and Alan have a special guest, Chris Luger from Heavy MetalMoney where they discuss blog 125, which is about the 3 essential skills every real estate investor should have. The 1st essential skill is being optimistic. Alan experiences people telling him they want to invest in real estate and what stops them is they worry about every disaster scenario they might face. Butwhat about potential amazing things? Alan calls these lottery tickets! He experienced this when the Nets moved to Brooklyn, and each of his properties there appreciated $1 million right away. The 2nd essential skill is being persistent, it is simple but not easy. Youâre always needing to follow up, with realtors, lenders, tenants, contractors, cleaners, etc. And the 3rd essential skill is to have a long-term focus. Know your long-term goal and hold on to it. Chris points out that part of this is delayed gratification. Chris adds that you need to be comfortable taking on risk. Lauren says you need to be confident. Alan says real estate over football.
Sign up for HMM newsletter & read the blogs:
https://www.housemoneymedia.com/blog
Mortgage Minute: Jasmine answers the question: When is the first mortgage payment due after you close a property?
Sponsored by: Jasmine Mortgage Team https://www.jasminemortgageteam.com/
Real Estate Is Easy Interview
Lauren interviews Paul, a project manager and sales representative for a couple of different roofing companies in Florida. Heâs currently working for Armored Roofing and Solar in the Tampa Bay Area, but they are also statewide in Florida. Lauren asked Paul what happens to their business when a big storm comes through, he shared that the typical 3 to 4 weeks replacement that they do would go up to 3 to 4 months. This is because of manpower, insurance companies, and supply. Paul details the longevity of roofs with the caveat that insurance companies have a lot of say here in Florida. He recommends getting a free inspection yearly and maintenance, which can extend the life of our roofs. Lauren also asked Paul how many different kinds of roofs are there and he answered asphalt shingle roof, tile, metal, galvalume, and rolled roofing for flat roofs. Lauren asked about the price difference between shingle,metal, and tile roofs for an 1800-square-foot single-family home. Paul shared that new investors or homeowners should look for a good inspector and know when the last roof permit was puller. For us to be a good partner with our roofer, we should know how to communicate well with them. Paul makes real estate easyby making himself available. The hosts agree to that because being available makes you respond quickly and can make the job easy.
Contact Paul: 727-688-1668
Guest Host Segment
Guest Host Chris talks about an issue he experienced whenhe waived an inspection. In 2020, he did not do an inspection of his new property and after a while, there was a problem encountered with the new property. The furnace basically could not be serviced. There was a recall, and it needed to be replaced. Your hosts share their insights about the issue and give adviceabout it.
Follow Our Guest Host:
@MoneyHeavyMetal
https://www.facebook.com/MoneyHeavyMetal/
https://www.instagram.com/moneyheavymetal/
Follow House Money Media:
https://twitter.com/HouseMoneyMedia
https://www.instagram.com/housemoney.media/
https://www.youtube.com/@house-money
https://www.tiktok.com/@housemoneymedia
Follow the Hosts:
Lauren:
https://twitter.com/AdultingIsEasy
https://www.instagram.com/adultingiseasyreal/
https://www.youtube.com/@adultingiseasy
Alan:
https://twitter.com/RealEstateMaxi
https://www.instagram.com/realestatemaxi
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Zijn er afleveringen die ontbreken?
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What makes Chris the self-proclaimed Gas Biz Guy? Chris shares his origin story. It turns out his family was âin the business.â The name comes from his uncleâs plate from his Corvette. Lauren wonders what âgas bizâ really means, and Chris breaks down all of the businesses in that sphere, many of which he has personal experience in. In short, Chris was born an entrepreneur. Then, the 2 transition to discussing the personal finance reality of business owners. What follows is a gut-wrenching story about him being too broke to even file bankruptcy. His wifeâs credit card was declined. His kids couldnât receive their report cards because he didnât pay the tuition. Chris had to claw out of the Global Financial Crisis, and he did so by flipping gas stations, buying partners out of one of his businesses, and just good, old-fashioned ingenuity. So, Chris goes from lower than low during the GFC to very wealthy and retired only 8 years later. He tells that story in detail, which basically involved Chris accepting an unsolicited offer to sell one of his businesses (with a hand shake, by the way). Chris used the sale proceeds to invest in real estate. Then, Covid hit, and that obviously changed demand for gas quite a bit. Luckily, the demand for trucking increased, and Chris was able to scale that business quickly. Lauren canât help but ask what advice Chris has, having seen the downturns he has, for those of us who havenât lived through one. Surprisingly, Chris calls on Dave Ramseyâs program. Heâs a believer in strong defense by having low debt and holding onto some cash. Also, he recommends being ready to make money during downturns.
If you liked this episode, youâll also like episode 140: Thereâs More Than One Way to Be an Entrepreneur.
About Gas Biz Guy:
Chris Hellgeth is a 51-year-old entrepreneur whose journey from selling 10-cent single cigarettes led to a 30-year career transforming and supplying gas stations across Georgia. Despite facing setbacks like going broke and being a high school dropout, Chris rebuilt his life, achieving semi-retirement in 2016 and went back to work in 2019 after a three-year hiatus. Currently, he owns a successful fuel hauling company serving over 1000 gas stations in Georgia. Beyond business, Chris celebrates 23 years of marriage and is a proud parent of three. His story is a testament to resilience, determination, and a relentless entrepreneurial spirit that fuels both his career and family life.
Connect with Chris:
https://twitter.com/gas_biz
Connect with Lauren:
https://twitter.com/AdultingIsEasy
https://www.instagram.com/@adultingiseasyreal
https://www.housemoneymedia.com/
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Lauren and Cody kick off the interview by talking about what a CFPÂź is, and how someone becomes one. The curriculum covers a wide range of financial information. Cody describes financial planning as a bridge between your financial ecosystem and your familyâs goals and values. Cody argues that financial planners get a bad rap because of some financial advisors trying to take over management of your investments and sell you insurance on top of it. Some people even call themselves financial planners who donât do any financial planning. Lauren just has to ask about why he is so pro DIY investing â doesnât that mean he wouldnât have a job if everyone took the DIY approach? Thereâs actually a lot of demand for DIYers who need some planning help. To Lauren, Codyâs approach sounds like a nice middle ground. What matters for DIY investors is their time, temperament, and talent. Anyone interested in DIY investing must undertake the first step, which is data gathering. Temperament is important, too. When the stock market is down, do you skip dessert at a restaurant to save money? Lauren points out that you need to do the data gathering even if you end up hiring help. As you go through your data gathering, keep an eye out for evidence of what you value. Aligning your financial planning with your values is important. Cody then points out that balancing time, energy, and financial resources helps bring clarity to your life and financial plan. Lastly, Cody points out that our physical health, mental health, spiritual practices, relationships, and financials are interconnected. Your finances should be supporting your life.
If you liked this episode, youâll also like episode 149: Personal Finance is Personal with Mark Roussin or episode 131 Budgeting for Dummies.
About Cody:
Cody Garrett, CFPÂź, is an advice-only financial planner and educator passionate about helping DIY investors on the path to financial independence and through early retirement. As the owner of the Measure TwiceÂź brand, he specializes in comprehensive financial plan development and personalized education to help families implement their own well-informed decisions.
Connect with Cody:
https://twitter.com/MeasureTwiceMNY
Website & check list: https://www.measuretwicemoney.com/adulting
Connect with Lauren:
https://twitter.com/AdultingIsEasy
https://www.instagram.com/@adultingiseasyreal
https://www.housemoneymedia.com/
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Lauren comes out of the gate hot, asking exactly how Lindsay accumulated her $100k of debt. Basically, when she started making money, Lindsay blew through it, and ended up with all of her income going towards payments. Most people think of personal finance through payments. Lindsay didnât know what she should be doing. How did she eventually get on track? This is gut wrenching. Lindsay and her family were at the Route 91 shooting in Las Vegas, and she realized life is too short to spend your life doing things you donât like, for example, working a job you dislike. Basically, it was the opposite of YOLOing. She started by figuring out how much debt she had by listing it all out. She and her wife cashed out a small brokerage and lived frugally to pay off their loans. They used the debt snowball to help with small wins. Then, they started investing aggressively when the debt was just about to be paid off. Lindsay invests in both stocks and real estate, and Lauren asks why she has both. The peace of mind from diversification is a huge part of it. Also, you can do better than the 4% rule in real estate. The two walk through the real estate portfolio in detail. Primary hacking is a part of their strategy: buying a home with the plans to move in temporarily and make it an investment property later. Lindsay and Lauren then have a hypothetical situation about when to sell a property, and whether to do a 1031 exchange or not when you do. Then, they dig into the stock portfolio. Sheâs open about some early mistakes in trying to pick stocks, but that has made her a more confident investor now. Interestingly, Lindsay shares that sheâs come to appreciate her 9-5 partially because it helps funds her investments!If you liked this episode, youâll also like episode 138 with Justin from the Price of Avocado Toast and episode 126 with Bernadebt Joy called From Crying Over Net Worth to $1 Million Net Worth.About Lindsay:Lindsay Stamp is a 30-year-old stock and real estate investor who paid off $100,000 in consumer debt and is documenting her wealth building journey on X @lindsaystamp3. Lindsay hopes to show others that financial independence is attainable by consistently investing your 9-5 income over the long term.Connect with Lindsay:https://twitter.com/lindsaystamp3Connect with Lauren:https://twitter.com/AdultingIsEasyhttps://www.instagram.com/@adultingiseasyrealhttps://www.housemoneymedia.com/
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Brendan defines house hacking as making income off of a residence you live in. He took his first house hacking step around the age of 22. He started by playing defense with his finances. Then, he bought a duplex in a college town near where he grew up. Brendan and his buddy bought the place for $110k, then put a bit of sweat equity into it. They rented the top unit to students and also got 2 roommates for the unit they were in. With that first success under their belt, they moved onto another house hack in Cleveland. Whoâs managing these properties? Brendan manages the mid- and long-term rentals but does have a property manager for his short-term rental in Charleston. An interesting thing about Brendanâs portfolio is that he hasnât sold any properties yet! Lauren and Brendan also discuss a possible 1031 strategy in the future. Then, they get into pros and cons of house hacking. Obviously, these 2 thinks the pros outweigh the cons! In fact, they pretty much think everyone should house hack. Theyâve both also âprimary hacking,â which theyâve both done as well. Thatâs moving in with the intention of moving out and keeping that primary as a rental. Then, they move onto âlifestyle hacking,â buying an Airbnb to go there yourself. Lauren provides some cautionary words about this strategy, though. Note that you donât have to be in love with real estate to house hack. You donât have to house hack until death. Just try it once.
If you liked this episode, youâll also like episode 123: When You House Hack and It Has Mold But You Still Make Money.
About Brendan:
Brendan Bennett is a 27-year-old midwest investor based out of the Cleveland, Ohio market. His portfolio consists of 11 properties and 21 units with a mix of STR, MTR, and traditional rentals. Brendan is also a licensed real estate agent with eXp and is the VP of Revenue at Upright - a Hard Money Lender based out of Cleveland Ohio.
Connect with Brendan:
www.instagram.com/quadepropertygroup
Connect with Lauren:
https://twitter.com/AdultingIsEasy
https://www.instagram.com/@adultingiseasyreal
https://www.housemoneymedia.com/
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Happy almost Valentine's Day! This week, Lauren brings her husband Aric back to discuss an apropos topic. Using an Equifax article for inspiration, the two go back and forth asking each other financial questions. The topics range from income, credit, expenses, debt, goals, kids, and retirement. This episode brings a lot of levity and laughs between the two, who realize after almost 5 years of marriage and 9 years together, they know quite a bit about each other, but not quite everything!
If you liked this episode, youâll also like episode 113, where Aric and I discussed whether couples should have joint or separate finances last Valentineâs Day.
Article referenced:
https://www.equifax.com/personal/education/life-stages/articles/-/learn/money-questions-to-ask-your-partner/
About Aric:
Aric Aumond is a 31-year-old engineer, business owner, and real estate investor. Heâs also Lauren's husband of almost 5 years (together for almost 9). Aric enjoys red wine (although not as much as Lauren does), boating/fishing, playing the piano, and playing sports, like golf, tennis, pickleball, and volleyball.
Connect with Lauren:
â â â https://twitter.com/AdultingIsEasyâ â â â
â â â â https://www.instagram.com/adultingiseasyreal/â â â â â â â â â â â
â â â https://www.housemoneymedia.com/
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Justine opens by telling a gut-wrenching story about giving VERY honest, public feedback at her corporate job. This left her feeling vulnerable to being canned, but she got a lot of respect from others in her role. The wheels of change had started to turn, but they started turning in earnest when she attended a personal finance training session. Thatâs when she started investing in index funds. Individual stocks and bonds followed. Justine then shares that she was once in an abusive relationship. She worked hard to overcome that trauma, and getting her finances in order was a big part of that. Interestingly, trading options reminded her of the emotion of that relationship. Then, the conversation transitions to Justineâs work with her clients, like whether sheâs seeing any similar drives or goals. The first thing to do is remove the word perfect from your vocabulary. Next, they work together to examine their money mindset. A big thing up front is HONESTY. In short, when starting out you often need to lay the mental and financial foundations before you invest. Thereâs up front work to be done. Then, Lauren and Justine transition to making the connection between physical and finance fitness. Again, Justine shows strength in the midst of vulnerability as she shares the story of when she moved her body to move past her abusive relationship. Itâs all about knowing yourself. Justine closes with words of encouragement. You will walk away from this episode feeling motivated to start or continue your journey.
If you liked this episode, youâll also like episode 94 called What Even is Financial Coaching?
About Justine:
Justine De Peralta is a former teacher turned Financial Educator, I am on a mission to help women and DV survivors reclaim their confidence and become Money Smart, Body Strong!
Connect with Justine:
https://twitter.com/msfinancialfit
https://www.instagram.com/missfinancialfitness
www.justinedeperalta.com
Connect with Lauren:
https://twitter.com/AdultingIsEasy
https://www.instagram.com/@adultingiseasyreal
https://www.housemoneymedia.com/
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Dan went to college for finance. He got into real estate when the company he worked for after college committed massive fraud. Dan saw what his colleagues were going through who relied on their sales income to live when that income was torn out from under them. Dan became interested in the financial independence movement. He learned that with real estate, a tenant can pay down your mortgage every month, among other great benefits. Dan did momentarily succumb to analysis paralysis while learning, but he was able to buy his first property after 3 years. Now, he has a house hack duplex in Chicago, a SFR in Milwaukee, and 3 townhouse/condos in Milwaukee. Naturally, the conversation transitions to what itâs like to buy in a Homeownerâs Association (HOA). Lauren then asks, why did Dan pick Milwaukee for investing when he lived in Chicago? What ensues is a funny story about a friend who knew nothing about the area suggesting it to Dan. Lauren also asks about goals â what does Dan want to get out of his properties? The answer is indestructible wealth. Then, the conversation transitions to Danâs podcast, Landlord Horror Stories. He proceeds to tell Lauren a story from his podcast. Like all of these âhorror stories,â the landlord always ends up feeling like real estate is worth it, even if you have to put up with some challenges.
If you liked this episode, youâll also like episode 123: When You House Hack and It Has Mold But You Still Make Money.
About Dan:
Dan is a real estate investor based out of Chicago running a humble portfolio of 5 doors. He also hosts the Landlord Horror Stories podcast. A show that combines storytelling, history, and real estate.Currently Dan is working on Season 2.
Connect with Dan:
https://podcasts.apple.com/us/podcast/landlord-horror-stories/id1633686856
https://twitter.com/ResilientRei
Connect with Lauren:
â â â https://twitter.com/AdultingIsEasy
â â â â â â â â https://www.instagram.com/adultingiseasyreal/â â â â â â â â â â â â â â
https://www.housemoneymedia.com/
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Are people more stressed than they used to be? Yes! Some of it has to do with awareness because of how much information we have access to. Naturally, we as humans are affected by our environment. Our stressors arenât as obvious as they once were, i.e. email vs predator. Lauren asked about the difference between stress and anxiety. While stress hormones are necessary for survival, weâre really overloaded with them now. Keep in mind that stress differs whether itâs in your conscious or subconscious mind. Itâs obvious that we can only truly examine our conscious mind and our body. These things are giving us clues all the time. On the bright side, we all have the same nervous system so weâre all going through these same sensations. As the conversation transitions to our relationship with money, Lea gives some tactical examples of things to look out for and ways to better your relationship with money. Start with a discrete place, like checking your credit card statement, and examine how youâre feeling. Keep in mind that your money stories, which may be adding to your stress, are not your fault. An interesting tip Lea gives is to watch Real Housewives or something like that and examine the feelings you have about their money. Whatâs the first action you should take? Recognize that your relationship with money starts with you. Learn to monitor how you feel about money. Lea closes by talking about how we define happiness and gives us another way to think about it.If you liked this episode, youâll also like episode 161 (last weekâs) and 74 Empathy and Shame in the Personal Finance Community.About Lea:Lea Durante, a Family Nurse Practitioner turned Integrative Health Coach, wields quick, science-based techniques for potent mental and physical transformations. Having trained at the University of California, San Francisco School of Nursing and amassed over 50,000 patient encounters, Lea recognized the limits of traditional healthcare to achieve vibrant wellbeing. This insight led her to pioneered innovative solutions, employing cutting-edge science for self-directed body-mind-spirit integration, stress reduction and burnout recovery. Her methods draw from the latest advancements in nervous system regulation, subconscious reprogramming, neuroplasticity, and more. Lea guides individual clients in her signature coaching work âThe Integration Experienceâ and tailors impactful wellness programs for corporate teams. As a co-host of the From Your Center podcast, she shares resources, tools, and inspiration weekly. She lives in Idaho, with her husband and 2 sons and finds joy in reading, gardening, yoga, and jumping on the trampoline with her kids.Connect with Lea:https://www.linkedin.com/in/lea-durante-np/https://www.instagram.com/lea.durante.np/https://www.leadurante.com/Free eBook : 5 Secrets to Vibrant Health: https://www.leadurante.com/ebook Free Nervous System Quiz: https://www.leadurante.com/quizFrom Your Center (podcast): https://www.leadurante.com/podcastEmail: [email protected] Connect with Lauren:https://twitter.com/AdultingIsEasyhttps://www.instagram.com/@adultingiseasyrealhttps://www.housemoneymedia.com/
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Adam started coaching over 20 years ago. He bridges the gap between financial advisors and therapists. Money can bring up feelings of fear, guilt, and shame. Itâs OK to get help from others to summon courage. Ask yourself what your feelings are. What is coming up for you, even listening to this episode? You could also do journaling. Itâs especially important to recognize shame, anxiety, and avoidance. Adam tells a gut-wrenching story about how one of his clients realized money killed both her parents. If you donât face your emotions around money, it will affect you physically. You also should recognize what beliefs youâre passing on to your kids, because youâre likely to pass down some of the same thoughts and feelings that your parents passed on to you. And be kind to yourself â weâre all figuring this out! None of us were taught this. Thereâs really no inherent reason you should know about money. Invite a friendly relationship with your finances.
If you liked this episode, youâll also like episode 156, Financial Independence Doesn't Have To Be Extreme, or episode 74 Empathy and Shame in Personal Finance Community.
About Adam:
Adam Koren helps people who hate dealing with their money. He has been coaching for more than 20 years, and brings care, clarity, and sanity to personal finances - especially for those who experience avoidance, shame, and confusion about them. Adam specializes in providing judgment-free emotional support to help people untangle their unique money challenges.
Connect with Adam:
https://adamkoren.com/
https://www.instagram.com/adamkorencoaching/
https://www.facebook.com/akoren
https://www.yelp.com/biz/adam-koren-financial-coaching-oakland-2
Connect with Lauren:
â â https://twitter.com/AdultingIsEasyâ â â
â â â https://www.instagram.com/adultingiseasyreal/â â â â â â â â
â â https://www.housemoneymedia.com/
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Joshâs partner, Antoinette, got him into real estate investing. As a professional referee, he was very focused on his career, but he got involved in the real estate business during Covid. Antoinetteâs background is in a sales career, and Josh actually motivated her to follow her dreams like he had. When Lauren asks Josh about their âwhy,â he makes a great point that your why may change over time. You may not know where you want to go when you start. The opportunity recently presented itself to build new duplexes, so in addition to their health business, theyâre building as well. The goal is to help Joshâs mother retire with these new builds by the end of 2024. Josh and Antoinette have a partner on these deals, which they found by introducing themselves to others as real estate investors. So, do some networking and make being an investor part of your identity (not just your 9-5, if you have one). The two then transition to talking about short-term rentals (STRs), which the couple have in the Orlando area. The experience with STRs led them to the health care business of group care homes. Theyâre leveraging othersâ knowledge with this new venture as well, seeking counsel, not advice. It pays to know people! Lauren points out how careers are non-linear, and you can combine your skills and network to take your life to the next level. Josh rounds out the interview by going into more detail about their group home business.
If you liked this episode, youâll also like episode 132, a fellow Floridian who is using real estate to retire, or episode 128 about managing your properties from abroad.
About Josh:
Her doesn't like bios, but he does like long walks on the beach.
Connect with Josh:
https://www.youtube.com/@FearlessAndFreeFi
https://www.instagram.com/fearlessandfreefi/
Connect with Lauren:
â â â https://twitter.com/AdultingIsEasyâ â â
â â â https://www.instagram.com/adultingiseasyreal/â â â â â â â â
â â https://www.housemoneymedia.com/
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Lauren starts by asking Ruthie how you inherit a property. Itâs important to have a plan for your assets. You can leave property to others through a will or trust. Another way is from rule of law. It sounds like you should choose the will or trust route. There are some obvious benefits from inheriting a property. You donât have to come up with the money and go through the process of buying one! Unfortunately, there are downsides too. Firstly, someone who is most likely close to you has died and thatâs sad. You donât get to choose the property. Also, there can be complicated family dynamics. Pro tip: have conversations before you pass awayabout what your wishes are! Transfer as much knowledge as you can. Also, when inheriting a property, you also often inherit tenants. Itâs imperative you do networking and build your team. Laurenâs number 1 takeaway is to get an appraisal when you first inherit the property. Try to physically go there too. At the end of the day, you need to decide if having the inherited property fits into your life at the time you inherit it. If not, itâs OK to sell!
If you liked this episode, youâll also like episode 33 (5 Talks You Should Have with Your Parents) and 38 (Financial Abuse).
About Ruthie:
Ruthie is new to the Twitter / X space, and is just starting to build her connections to others who are inheriting âmom & popâ rentals. You can find her on Twitter at RuthieRentals.
Connect with Ruthie:
https://twitter.com/ruthierentals
Connect with Lauren:
â â â https://twitter.com/AdultingIsEasyâ â â
â â â https://www.instagram.com/adultingiseasyreal/â â â â â â â â
â â https://www.housemoneymedia.com/
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It's that time of year. Time to look back on Adulting Is Easy's FOURTH full year of podcasting.
(BLOOPERS at the end)
Audience: more than doubled again; getting morethan 2000 listens per month, and almost 40k in total
About the listeners:
81% from the US (83% last year)Others: Canada, UK, South Africa, Australia, Cambodia,Germany, Spain, Netherlands, Mexico, Sudan, Switzerland, Philippines, UAE,Japan, India, Ireland, Israel, Denmark, Ghana (new), Belgium, Puerto Rico, Argentina, Sweden, Italy, France (new), Nigeria, Peru, Romania, Greece, New Zealand, Costa Rica, Colombia, Bahrain, Bolivia, Oman, Czech Republic, Brazil, Poland,Namibia (new), Singapore, Norway, Russia, Finland, Turkey, Austria, Portugal, Uganda (new), Zambia (new), Pakistan, Croatia, Saudi Arabia, Hong Kong (new), Lithuania (new), Kenya (new), Sierra Leon, Kuwait, Chile (new), Morocco (new), Malaysia (new), Ukraine, South Korea, Dominican Republic, Taiwan, Iceland, Jamaica, Slovakia, Malawi, Indonesia, Qatar (new), Uruguay, Iraq, Ecuador, Thailand (new), Latvia (new), Aruba (new),Lebanon (new), St. Kitts and Nevis, Hungary, Iran, Republic of Moldova (new), Fiji (new), Maldives (new), Paraguay (new), Algeria, Vietnam, Liechtenstein, Mongolia, Faroe Islands (new), Ethiopia, Egypt, Bulgaria (new), Belize (new), Zimbabwe (new), Honduras (new), Tanzania (new), Kazakhstan (new), Guatemala (new), [We lost Bangladesh]
Gender (Spotify):43% female (31% last year, 29% in 2021, and 69%in 2020)55% male (69% in 2022 and 2021, 49% in 2020)2% No non-binary or unspecified (past: 0%)
Age (Spotify)0-17: 0.3% 18-22: 5%23-27: 14.5%
28-34: 36.8% 35-44: 26.5%45-59: 14.5% 60+: 1.5% Where are you listening?Apple: 66%Spotify: 16%Overcast: 5%Browser: 3%Google podcasts: 3%Castbox: 2%Other: 5%
107: Financial Impacts of Divorce with Chris108: Value-Add House Hacking109: FIRE Off the Grid with Steve on Speed 110: Real Estate Agent Perspective111: Getting Paid in Tips with Barbara112: Itâs Not Too Late for Real estate113: Couples and Finances114: Self Managing 87 Rentals 115: Dividends with Dividend Dream116: Land Flipping 117: Real Estate as a Side Hustle â Top 5118: Friends, FOMO, and Finances with Money with Katie â Top 5
119: Cost Segregation120: Go to the investing Gym But Donât Get An Investing Tattoo with Decade Investor (Kolin)121: Manager STRs While Working Full Time122: Finding Passionate Income with Brian Luebben
123: House Hacking STRs with Mold124: NFL Players Side Hustle Too with Devon Kennard125: Optimize my Airbnb126: Crying Over Debt to $1 Million Net Worth127: Retiring from the 9-5 â Top 5128: Managing STRs from Abroad129: The Easy Way to Get Wealthy with Wealth Dad â Top 5130: Life in a Personal Finance Wind Tunnel131: Budgets for Dummies with Athena â Top 5132: STR Arbitrage133: Retiring While Blind at 32134: Success Mindsets (Growth Guide Episode 100)135: NFL Player to House Hacker to STR Host136: Should you invest your emergency fund?137: Serving Tables, Showing Up, and Hustling 138: Wake Up Call 139: The Future of STRs140: Online Businesses with Eric141: STR Cleaners142: Investing for Your Kids with Budget Dog143: Dividends with Dividend Dave144: Entrepreneurial Mindset and a Dog Resort Abroad145: Entrepreneurial Misadventures to 6 Figure W2146: 6x Your Returns with Credit Card Rewards147: 51k in Debt to House Hacking148: A Million Bucks by 30 with Alan Corey149: Personal Finance is Personal and So Is Investing150: REPLAY of Episode 87151: Our Financial System Runs on Bonds152: Mobile Homes May Be the Future of Affordable Housing153: Doing Your First Deal with Your Family154: Small Business Exit to Accredited Investor and Beyond155: Nerding Out Over Airbnb Stock 156: Financial Independence Doesnât Have To Be Extreme157: Regulating Personal Finance Influencers158: TODAY
Thanks to Touchstay for their sponsorship, also Steadily Landlord Insurance, Nexus, and Summer!
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Note: Tom had some internet issues early on in the interview, sorry about that!
Lauren kicks off by asking what the difference is between a financial advisor and a financial planner. Interestingly, they can be very different or very similar. Tom thinks anyone who panicked during the toilet paper shortage should have a financial planner (those that panic!). Also, he thinks people with complicated portfolios, like maybe doctors, as well as second generation wealth. Of course, given Tomâs licenses and certifications, Lauren had to ask about them, like the FINRA ones or the CFP. Tom believes the barriers to entry are important in this space. What about personal finance influencers? Lauren wants to know! Turns out, like almost everything, social media has positives and negatives. How do you tell the good advice from the bad? Tom suggests reading credible books, like perhaps some from Bogle. (Lauren would also recommend The Simple Path to Wealth and Psychology of Money.) As far as regulations go, regulating socialmedia influencers might do more harm than good, according to Tom. Now that Tom has left his career, heâs loving podcasting for the Money Happy Hour. Sometimes, he records about hot takes, like when Dave Ramsey said itâs easy to get 12% returns in index funds.
If you liked this episode, youâll also like episode 37 about Advising Fees with Jude Boudreaux.
About Tom:
Tom the Savings Captain had a 30-year career in financial services as an Advisor and leader with several large investment and stock brokerage firms. Tom holds several FINRA licenses and his CFP designation.
Connect with Tom:
https://twitter.com/SavingsCaptain
https://thesavingscaptain.com/
Connect with Lauren:
â https://twitter.com/AdultingIsEasyâ â
â â https://www.instagram.com/adultingiseasyreal/â â â â â
â https://www.housemoneymedia.com/
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Rachael starts by discussing what financial independence is: being work optional. Youâve built up enough assets that they provide you enough income that you no longer need to work. But what if you like working? You donât have to have traditional financial goals of completely stopping work at any point. Lauren points out that your feelings about work may change, and you should be ready if that happens. Then, they transition to discussing the FIRE (financial independence retire early) movement. Again, Lauren cautions against assuming a steady state for too long, you may (and probably will) change over time. Lauren asks Rachael how to give ourselves permission to spend now, meaning your life canât all be about delayed gratification. You need to know what you value and what brings you joy. You need balance on the hustle side as well as the spending side. Donât forget to check in with yourself regularly: do you enjoy how youâre spending your days? Rachael and Lauren close by discussing goal setting, and Rachael points out that looking at the year as a whole can be intimidating, so she plans quarterly.
If you liked this episode, youâll also like episode 77: FIRE in your 20âs.
About Rachael:
Rachael Camp is a Certified Financial Planner, a personal finance blogger, and the founder of Camp Wealth - a financial planning firm for high earners and business owners.
Connect with Rachael:
https://www.rachaelcampwealth.com/
https://twitter.com/camp_wealth
https://www.linkedin.com/in/camprachael/
Connect with Lauren:
â â https://twitter.com/AdultingIsEasyâ â â
â â â https://www.instagram.com/adultingiseasyreal/â â â â â â â â
â â https://www.housemoneymedia.com/
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Brad Freeman aptly named his company Stock Market Nerd because thatâs certainly what he is â in a good way! Brad is fascinated with stocks because you can be wrong a lot and still bevery successful. He believes in leaving no stone unturned when it comes to researching stocks. Itâs a little obsessive actually. For him, knowledge is both power and comfort. Researching stocks to try to outperform the market, to Brad, is a full-time job. He shares what heâs learning in his newsletter. Brad also pointsout that at 26-years-old, he can take on more risk than most people. He'll decrease his exposure to single stocks over time (he owns 18 stocks right now). Brad shares his own holdings and others in his newsletter. Everyone should have their own approach, according to Brad. Lauren poked at an old wound asking about a time when he was wrong â it was Teladoc (and therefore transformative M&A). Finally, Lauren just had to ask about Airbnb. The two discuss their thoughts on the short-term rental market and how that affects Airbnb. Lauren, of course, has some thoughts to share on this topic!
If you liked this episode, youâll also like episode 90 Stock Market History with Brian Feroldi.
About Brad:
Brad Freeman is an independent equity analyst who runs Stock Market Nerd. Brad started out working at an RIA & wrote for the Motley Fool before going out on his own. He covers a wide range of stocks within traditional "growth" & "value" buckets as well as macroeconomics. Equity research is a passion of Bradâs and leaving no stone unturned is a prerequisite for his stock picking.Connect with Brad:
https://twitter.com/StockMarketNerd
https://www.stockmarketnerd.com/
Connect with Lauren:
â https://twitter.com/AdultingIsEasyâ â
â â https://www.instagram.com/adultingiseasyreal/â â â â â
â https://www.housemoneymedia.com/
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Trina graduated from college in 2009, and there were not very many jobs available. She continued working in the service industry when she graduated. Trina loved gardening in her own yard, so her customers started asking her to plant their own flowers. Her first year (Apr-Jun), she generated $10,000 in revenue. She decided that the following year, when she turned 30, sheâd be full-time. She met her goal and generated $175k the first year she was full time. Trina knew from the beginning that this landscaping company would be a steppingstone. She wanted it to be a lifestyle company or sell it within 5 years. It took 8, but she did it! Interestingly, Trina studied constantly about how to be a leader. She learned a lot about herself and did a lot of work on herself while she was running the business. The business operations werenât the hard part â it was the people. Trina is a big believer in setting goals, and one of those was becoming an accredited investor. Like her other goals, she hit that, too. The two go into detail about Trinaâs goals and how she sets them. In the near term, she wants to spend the nice months in Arizona (she lives up north). Sheâs also, of course, working on her online business. Her big goals push her on her smaller goals.
If you liked this episode, youâll also like episodes 144 and 95, which are about entrepreneurship.
About Trina:
Trina Julian started a landscaping company in 2015 with the purpose of building it and selling it. Trina saw it as the fastest way to 10X her income and get off the economic floor. It worked! Now sheâs building an online business because Trina wants to live abroad and have more freedom to travel the world. So, she started Trina Julian, the company, earlier this year. Her vision is to instill belief in all people that they can design the life they want. Follow her on Twitter (@TrinaJulian) and sign up for the best weekly sales tips to 10X your income at trinajulian.com.
Connect with Trina:
https://trinajulian.com/
https://twitter.com/TrinaJulian
Connect with Lauren:
â â https://twitter.com/AdultingIsEasyâ â
â â https://www.instagram.com/adultingiseasyreal/â â â â â
â https://www.housemoneymedia.com/
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Since Brett bought his first house in 2022 and his first investment property in 2023, Lauren had to ask about investing in this current environment. Brett did this deal with his grandparents, and it was a great entry point for all of them! Interestingly, the deal is out of state for all of them. Brett breaks down his numbers of his first (primary) home, a townhome. Then, the two transition to breaking down the rental deal, and start by talking about working with family. His grandparents were doing a 1031 exchange of some land. They looked at 15 homes in one day before they bought a single-family home. Why would his grandparents want him in on their deal? He handles a lot of the paperwork. Heâs taken on more of the mortgage and brought a personal line of credit to the deal. And there are estate planning benefits as well! A huge advantage is going through thisadventure with his grandparents. And he bought of out state (he lives in Florida and his grandparents live in California) in Missouri because housing is still affordable there. Unlike Lauren, Brett likes real estate and loves the stock market. Lauren canât help but wonder if heâll change his mind over time.
UPDATE: Brad did collect rent for Nov 1
If you liked this episode, youâll also like episode 26 where I interviewed Brett about his student loans or 116 about land flipping.
About Brett:
Brett Holzhauer is a self-proclaimed personal finance nerd. He currently works at M1 where he is the Content Marketing Manager. Before that, he was a personal finance reporter at CNBC and Forbes. Along the way, he has been on his own financial journey. He successfully paid off $80,000 in student loan debt, while buying his first home in South Florida in 2022, and just recently completed his first investment property purchase in September 2023.
Connect with Brett:
https://twitter.com/brett_holzhauer
Connect with Lauren:
â https://twitter.com/AdultingIsEasyâ â
â â https://www.instagram.com/adultingiseasyreal/â â â â â
â https://www.housemoneymedia.com/
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Lauren opens by asking the obvious question, as she often does: whatâs a mobile home? Rachel touches on the history of mobile homes and manufactured homes. They started as a home for rich people to take with them on their vacations! Now, theyâre not moved very often in their lifetimes. Theyâre usually set on blocks, wheels removed, and hitches removed. Rachel points out that since 1976, HUD got involved and created some standards throughout the industry. Rachel shares how she became âMobile Home Girl.â It started with wholesaling, which is what sheâs doing (again) now. Lauren asks about how Rachel handles depreciating assets, financing, and insurance. She also rents out the homes and seller finances them as well, with lease options. Lauren straight up asks: whatâs different about investing inmobile homes versus other asset classes? Interestingly, you need to build rapport with the park managers! Lauren shares that both her grandmothers live in mobile homes, and asks about co-ops, and Rachel explains what those are and how they work. Why hasnât Rachel bought a whole park? Turns out, itâs a different business! Thereâs not as much freedom. Rachel is kind of enough to walk through numbers on not one, but two deals: her first deal and a very recent one. Lauren and Rachel end the interview speculating about the future of manufactured housing. The hope is that they are a part of the affordability crisis, along with tiny homes.
If you liked this episode, youâll also like episode 117 real estate as a side hustle and finding your tribe online.
About Rachel:
Rachel Hernandez is an award-winning mobile home investor with over ten years of experience. As an author and blogger, her books have hit #1 on Amazon and her blog has been featured as one of the Top 20 Real Estate Investing Blogs. Rachel is also the #1 writer for Mobile Homes on Quora. She has been featured in MHVillage,Forbes, Experian, and various real estate publications and blogs. Her podcast, Adventures in Mobile Homes, is recognized as one of 30 Asian American Podcasts to Support and was nominated for a 2020 Golden Crane Award by the Asian American Podcasters Association.
Connect with Rachel:
https://adventuresinmobilehomes.com/
https://twitter.com/mobilehomegurl
Book Mentioned: Her story is in JL Collins new book Pathfinders
Connect with Lauren:
â â https://twitter.com/AdultingIsEasyâ â â
â â â https://www.instagram.com/adultingiseasyreal/â â â â â â â â
â â https://www.housemoneymedia.com/
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