Real Estate Investing Tips for 2024 - Ken McElroy, Jaren Sustar
In this episode of the Rich Dad Radio Show, guest host Ken McElroy fills in for Robert Kiyosaki, discussing the transformative financial journey of Jaron Sustar, also known as the Finance Cowboy. Starting with a significant amount of debt due to student loans and consumer choices, Jaron and his wife decided to break the cycle of living paycheck to paycheck. By focusing on real estate investment, they managed to become millionaires by the age of 29. Throughout the episode, Jaron shares insights on overcoming financial hurdles, the importance of financial education, leveraging other people's money for investments, and the power of networking to find and fund deals. The discussion also covers common misconceptions about real estate investing and practical tips for aspiring investors looking to scale their operations and achieve financial freedom.
Why Watch?
- Relatable Journey: Sustar’s transition from being over $100,000 in debt at 22 to becoming a millionaire by 29 through real estate is both inspiring and attainable. His story is a testament to what's possible with the right mindset, education, and action.
- Practical Advice: The discussion provides actionable advice on real estate investing, from overcoming the initial financial hurdles to scaling a successful investment portfolio. Sustar’s methodology, focusing on distressed properties and leveraging other people's money, is laid out with clarity and precision.
- Inspirational: Sustar's background as a pastor's son and a college athlete underlines the power of discipline, faith, and commitment to achieving one's financial goals. His story is a motivational push for viewers at any stage of their financial journey.
- Rich Dad Philosophy: The episode reinforces the core principles of the Rich Dad philosophy, highlighting the importance of financial education, taking action, and leveraging debt as a tool for wealth creation.
00:00 Introduction
01:37 The Path to Becoming a Millionaire by 29
05:21 The Power of Mentorship and Real Estate Investing
09:01 Building a Supportive Network and Overcoming Mental Barriers
13:55 The Importance of Choice and Seeking Opportunities
18:44 Debunking Real Estate Investment Myths
19:28 Understanding the Real Estate Deal Process
21:06 The Art of Finding and Analyzing Deals
24:17 Leveraging Other People's Money (OPM) for Investments
30:46 Scaling Your Real Estate Business
Facebook: @RobertKiyosaki
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Twitter: @TheRealKiyosaki
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Instagram: @TheRealKiyosaki
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Disclaimer: The information provided in this video is for educational and informational purposes only. It should not be considered as financial advice or a recommendation to buy or sell any financial instrument or engage in any financial activity.
The content presented here is based on the speaker's personal opinions and research, which may not always be accurate or up-to-date. Financial markets and investments carry inherent risks, and individuals should conduct their own research and seek professional advice before making any financial decisions.
6:44 that's what I need. A friend who has done it at least once. I'm all alone out here. 5:58 I've read rdpd 8 times as well as all his other books and you definitely can't learn how to get into good debt just by reading his 1st book....
19:23 hitting the nail on the head!!
Thanks once again for the financial information Ken and Rich Dad Team.
Awesome show Ken.
This is an episode you have to watch twice. I'm going to replay it so I can write down notes. Great job
Thank you!!
congratulate your success I think you also have good wife and friends to support you Thanks your sharing 😊
Awesome show today! Thank you both
I just started to listen to this but I am on the same path. Rich dad poor dad was the book I read. So always a believer about investing and then in 2020 my husband went to work for Churchill Mortgage and they follow Dave Ramsey's method because the owner of Churchill Mortgage and Dave Ramsey are friends. And they Ramsey is for people who just do not know how to control their spending but even I don't agree to buy homes and try to pay it off. So it's a blend of both worlds so long as you understand and know what you're doing.
Thx!!
Definitely hyped up almost forgot my rich dad poor dad book but guess now its the time
Read it!!
@@Iamkaden 🫡
14:10 what spots? 500 per seat minimum summits?
Real estate here in lower SC seem to be holding out well, even maybe rising.
0:41 what's up Ken! Just bought your book ABCs of real estate
Great show!
Thank you!
13:27 amen!!!!!
How do I even get into real-estate?
Read Ken McElroy book on real estate
Can we get a video, podcast or something about first time real estate and how to get in? I understand that's the hardest part and that's where i'm at, as well as 90% of the rest of us
12:04 well thanks for being honest. Its true. You gotta get that missing piece. Show up at these places with like minded people!
0:06 oh that's me but I have no choice
Hii sir
12:32 are these folks willing to help young men trying to make it in real estate even if they dont already have a portfolio???
Where is Robert, I don 't see him lately, is he sick or on vacation?
He literally said hes public speaking in new zeland and Australia
9:45 you didnt do that bro. Your boy from rotc called you in on it. Unlike me, I'm trying to get in without an invitation or friends or family. My friends and family hate when i talk about the rat race and how i wanna get out 😢
Getting rich by creating inflation for the majority
Conglomerate companies create inflation more than an average real estate investor.... 🎉
Jaren...you are about to have your world completely turned upside down if this is what you think is going to keep you going in the next 2-3 years...This WAS a great plan 10-15 years ago, but we need to look at the current situation, and the charts...Oh, how the times have changed...