Real Estate Wealth: Performance Beats Location

Yeah, that's true.

And I mean, it's true.

It's an interesting perspective of having control, right? Because the There's a lot of faith, so to speak, in the stock market we have here in the United States to long-term growth.

But once again, there's no guarantees that there won't.

There has been, of course.

There's always been historically significant drops in the market.

If that's at the wrong time, it's very, very scary if something that takes place.

Do you have other assets? Do you have other ability to help get through things? And I've been a big believer that people should be creating oil wells.

So the concept of an oil well, you can actually truly invest in oil wells, but literally finding ways where you don't necessarily have to be in the business, but you are either an investor in a business or you're investing in other businesses that are generating cash flow.

where you don't have to actively work in it, but you could still generate cash flow for retirement purposes.

And one of the most beautiful things that real estate has is you can use depreciation to offset against rental income.

So you don't typically have taxable, you do at a certain point, but you don't necessarily even have taxable income that comes through it.

That's what makes it an amazing part because we're willing to invest.

That's the risk we take.

As you and I both know, not all rentals work great.

I mean, sometimes things can go well, you could have a bad road or you can't get them out.

You could have damage, you got maintenance.

There's other things around it.

So I'm kind of curious for you, because you talk about the scalable real estate systems.

What does that mean when you say scalable real estate systems?

While I get to that in a moment, let me just have one moment about the control thing, right? Like both for stocks and for real estate and other assets, maybe.

When I say control over real estate, what I really mean is like I hold title.

But at the time when I was looking at it, there were real estate investing trusts that you could do.

There were syndications if you qualified as an accredited investor.

So these options, not to necessarily having to invest in California existed, but you have very little control.