IN THIS EPISODE BRYCE COVERS:
- Why it’s important to work on building wealth for you and your loved ones.
- Different methods of making money in the US.
- Key niches to investigate in business ownership and real estate.
- Things to be aware of when searching for a financial advisor.
- Disclaimer - Bryce is not a lawyer or a financial advisor. The following episode is not advice, it’s for educational purposes only.
- Wealth is 1 of 5 core principles, if you grow financial wealth then this will also help in the other core areas.
- Which of these 5 principles is the most important to you is up to you and will probably change through life.
- Myths to bust;
- You need to have money to make money
- You need experience to make money
- You need good credit to make money
- When Bryce started he had no assets and negative net worth + unseasoned credit + no experience in real estate but he bought a mobile home park with these circumstances.
- Some might argue that building wealth is against theology but Bryce argues that the love of money is the root of all evil; it’s all about the person who has the money as it will amplify who you are.
- Your priorities are wrong if money is the be all and end all; it shouldn't be everything.
- On the path to financial freedom the end result isn’t the goal, it’s about the person you become during that self development.
- By building wealth you’re also able to spend more time with family and people you care about
- The goal is to work towards financial freedom by getting passive investments to pay for your living expenses.
- Once financially free you can leave your day job but many people want to keep working for enjoyment.
- There are three main ways to make money;
- Stock market and/or crypto currency
- Business ownership. The key here is to stick to the business plan and put in productive effort for at least 12 months and test your market first.
- Real estate. The key here is to find your niche, for example there’s a massive need for affordable housing in the US, especially mobile home parks.
- Senior living is also a big niche in the US as it’s growing with baby boomers over the next 10 years. Also millennial housing is another niche worth looking into.
- Bryce recommends the series on Youtube - Secrets of Money by Mike Maloney
- Mike Maloney is a gold and silver investor who covers a 10 episode series taking you through complex topics and making them interesting.
- Bryce has an Ultimate Goal Template, just email him for a copy - free!
DISCUSSED DURING SHOW:
T Harv Eker’s NYT #1 bestseller – Secrets of the Millionaire mind: https://www.amazon.com/Secrets-Millionaire-Mind-Mastering-Wealth/dp/0060763280
Millionaire Mind Intensive/Experience (FREE 3 Day Live Course) based off T Harv Eker’s NYT #1 bestseller – Secrets of the Millionaire mind: https://www.millionairemindevents.com/event-schedule/
T Harv Eker’s website: https://www.harveker.com/
Youtube series “the hidden secrets of money” by Mike Maloney: https://www.youtube.com/playlist?list=PLE88E9ICdipidHkTehs1VbFzgwrq1jkUJ
Robert Kiyosaki’s book - who stole my pension: https://www.amazon.com/Who-Stole-My-Pension-Looting/dp/1612681034
Bryce Bigger Pockets Article with tons of valuable links: “Warning: 5 Reasons the 2020 Recession Will Be Far Worse Than 2008”: https://www.biggerpockets.com/blog/5-reasons-2020-recession-completely-2008#comment-238342
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