#62 with Leanna Haakons: How You Can Become Financially Free Investing Outside of Real Estate

Millennial Millionaire Real Estate Podcast

English - August 31, 2020 19:32 - 1 hour - 134 MB - ★★★★★ - 56 ratings
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Previous Episode: #61 with Rachel Richards: Retired at 27 & Living Off of $15k of Passive Income per Month

Next Episode: #63 with Antoine Martel: Scaling to 15M in Multifamily Assets & 100 Flips a Year by Age 25

In this episode, Jonathan Farber interviews Leanna Haakons in a unique episode that focuses on newcomers to the real estate market. Leanna is a sales and marketing entrepreneur helping businesses connect to all types of investors. In this episode, we dig into topics like building a portfolio, determining your best investment, finding the best mortgage, and more!

Top Takeaways:

Building a portfolio of investments - 9:20 - 20:20

The best place to start is with any free money from your employer

Your investment classes should align with your goals

The time and energy you have to put into your investments will determine your return

The stock market returns an average of 7-8% year over year with inflation but is very hands-off

Real estate can provide a much higher return but will nearly always require more work

Many real estate strategies can be systematized over time to reduce the workload

Investing for appreciation or cash flow - 22:00 - 32:00

House hacking - buy the building, live in one unit, and rent out the rest

Cash flow markets are great for this - midwest states with stable property values

Young investors nearly always want cash flow in order to replace their income

Appreciation is most useful for building wealth and increasing net worth

Airbnb/vacation rental works well in more expensive vacation markets

A “second home” can be bought at 10% down and part of the year

Finding the best mortgage for you - 50:55 - 1:05:30

Especially as a first-time buyer, a mortgage broker can be a huge benefit

The huge diversity of lenders and mortgage products necessitates some hand-holding

For a more experienced investor, local lenders are the way to go

Calling multiple different banks will give you as many different options

Resources:

fullfocusplanner.com

Book by Leanna Haakons: Young, Fun & Financially Free

Book by David M. Greene: Long‑Distance Real Estate Investing

Social Links:

Connect With The host, Jonathan Farber Here!

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Facebook Group: Real Estate Mentorship Mastermind

https://www.facebook.com/groups/860025821084224/

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Schedule a time to talk: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr

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