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Millionaires Unveiled

355: Net Worth Of $6.5M - Finding Balance Between Investing & Spending; When Another Million Doesn't Change Happiness Levels

Millionaires Unveiled

Jace Mattinson

Investing, Millionaire, Financialplanning, Business, Self-improvement, Education, Finance

4.8872 Ratings

🗓️ 29 April 2024

⏱️ 41 minutes

🧾️ Download transcript

Summary

Summary

Eric is a real estate investor with a net worth of $6.5 million. He is in his mid 40's and shares his journey from being an empty nester to building a successful real estate portfolio. He started investing in real estate after reading Rich Dad Poor Dad and gradually grew his portfolio over the past 18 years. Eric primarily invests in single-family properties, with a total of 55 houses and a 10-unit apartment building. He leveraged low interest rates to grow his portfolio and currently has a 50% loan-to-value ratio. Eric is now transitioning to more passive investments, such as real estate syndications, to enjoy a more hands-off approach and focus on lifestyle.

Transcript

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0:00.0

Yeah, it's, you know, it's interesting every time I put a goal on paper, it was achieved and, you know, I started looking back at those goals and I think, man, maybe I should have set higher goals because I didn't think I would be able to achieve the ones I put on there, you know, like 10 houses. And then when I own 10, I'm like, okay, what about 20, you know, what about,

0:23.6

okay, 50.

0:24.7

And so, you know, the goals have been, you know,

0:28.7

something about riding it down and putting it on a spreadsheet

0:31.5

and calculate how to get there and just taking step by step.

0:35.2

At some point you've got to ask yourself, you know, when is enough enough, you know, or how much more

0:42.0

effort do I want to put into reaching another number and how much happiness will that bring so you know I hear a lot of your people talk about shifting goals shifting gears and just focusing on more fulfilling things

0:56.8

of charity work and that kind of thing.

0:59.7

So that's kind of where we want to go as well, you know, but you also need balance in life, you know,

1:05.9

it's no fun to die with a big pile of money and if you can't enjoy it along the way.

1:14.2

So you just try to find that balance between investing and spending.

1:18.2

Welcome millionaires and future millionaires.

1:21.0

You're listening to the millionaires unveiled Unveale Podcast. The show

1:24.2

where you'll hear the stories and interviews of everyday millionaires will

1:27.9

unveil their decisions, their strategies, and their portfolio allocations.

1:32.1

Now to your host Jay Smattinson.

1:37.0

Welcome back to another episode of the Millionaires and Ville

1:40.3

podcast. This is episode 355.

1:43.0

Stace, how's it going?

1:45.0

What's going on your world?

1:46.0

You know, I have two tiny additions to intro tonight that decided they wanted an opportunity to try to fund the Ross this year.

1:54.0

So I'm just hoping we don't have any tiny baby snores in the background for our

...

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