My favorite quotes from my podcast interview with Steve Lloyd…
Lots of lessons in these:
“I wanted to create a new lifestyle. I sold a big portion of my real estate and I went to the Fort Lauderdale Boat Show, and I came back with a 52 foot Horizon Motor Cap.” (04:09)
“I think there needs to be a balance. The wealth is created by the real estate that you hold, because with flipping you’re paying the highest taxes because it’s all short-term capital gains. There’s no tax benefit to it. So, I say everything in life is balance. So, maybe flip two, wholesale two, and keep one. You’ve got to build up that real estate portfolio over time.” (09:59)
“To me, you have to keep progressing. You have to better yourself physically, mentally, with your real estate. You have to go to these real estate meetings and learn and network.” (15:27)
“To me, there’s many things that I know and I could talk about, but I really hope people in their late twenties and early thirties are maxing out that self-directed 401(k).” (25:18)
“It’s really not hard to build a real estate portfolio.” (36:01)
“Once you get the money – the cash flow – then you can invest in other things, I believe. That’s how it’s worked for me.” (38:13)
“If something is burning you up in your life and it’s not working out, let it go.” (50:26)
More lessons throughout the interview.
Listen here:
s5e57 Your 50s is Where It’s At! with Steve Lloyd
Watch it on YouTube here:
VIDEO: s5e57 Your 50s is Where It’s At! with Steve Lloyd
Tom Zeeb
Traction Real Estate Mentors
