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The BetterLife Podcast: Wealth | Real Estate Investing | Life

#10: Justin Donald

The BetterLife Podcast: Wealth | Real Estate Investing | Life

Brandon Turner and Cam Cathcart

House Flipping, Multifamily, Real Estate, Wealth, Investing, Business, Real Estate Investing, Self-development, Entrepreneurship, Rental Properties, Health

4.8767 Ratings

🗓️ 15 May 2023

⏱️ 102 minutes

🧾️ Download transcript

Summary

Justin Donald has been called "The Warren Buffett of Lifestyle Investing" by Entrepreneur.com. He's the author of The Lifestyle Investor: The 10 Commandments of Cash Flow for Passive Income and Financial Freedom and leads the Lifestyle Investor Mastermind.

Topics covered:

  • Traditional college education vs. apprenticeship
  • The 3 most important lessons to teach kids about money
  • Using leverage to buy assets with little of your own cash
  • Mobile home park investing vs. other types of real estate
  • How to invest in "the next big thing"
  • Diversification vs. specialization when investing
  • Finding the right operator to run a business
  • 7-minute guide to buying a mobile home park

To book a free Strategy Session with Justin's team about your Lifestyle Investor Journey, visit LifestyleInvestor.com/Strategy.


Justin's charitable causes:
- Love Justice International, which fights human trafficking
- Tim Tebow Foundation

Transcript

Click on a timestamp to play from that location

0:00.0

And I just know that this season is short term.

0:05.0

It might feel long, I might feel a little burnt out, but I also know that the next season,

0:11.0

that's not going to be the case. I'm going to figure out a way past it. I'll figure out systems

0:14.0

so that I'm not the one there, and I'll figure out a way to have assets that produce income.

0:19.0

And so later on, when I have a family, there's no way

0:22.1

I'm going to be working in the evenings and on the weekends. I had zero desire for it then,

0:25.9

and I have zero desire for it now.

0:32.0

Welcome to A Better Life with Brandon Turner. That is me, where world-class guests share

0:36.9

their wisdom on building a better life.

0:39.0

Join me as we explore the habits, the actions, and the beliefs that have guided their journey

0:42.8

with the aim of helping you apply those lessons to your own. Justin Donald. So first of all, a couple years ago, you reached out to me and were like,

1:08.2

hey, I would love to chat with you sometime. And I'm like, who's this guy? And then you follow back again and again. And I'm like just ignoring your,

1:14.8

you know, texts and calls and all that. And finally one day I decide, okay, I'll give this guy a shot.

1:20.2

And so we talked about, you know, this is my side of the story. I'm sure it was nothing like this. But no, but then we never actually really got to

1:27.8

connect the way we wanted to. And then we have a buddy named Hal Elrod, who is also coming on the show

1:32.9

soon. And Hal, I invited him to dinner. I said, hey, bring, bring somebody if you want, if you know

1:37.1

anybody cool. He said, well, I don't know anybody cool, but I'll bring Justin Donald. He brings Justin Donald with. And we went to dinner. And we had an

1:44.8

amazing night. And I was like, this guy is legit. So here we are now a year later. And I don't

1:50.8

have it's been a whole year yet. It's been like half a year. Maybe has it been a year? I don't know.

1:54.4

When did we, when was that dinner? Yeah. You know, it probably hasn't even been a year yet. And what a killer dinner that was. That was fun. That was a blast. And now we're besties and, uh, you know, that's right. That's what we, it was a crazy, uh, surreal moment of like epic food. But then there was, you know, the issue in the kitchen with one of the shifts. Yeah, that was gnarly. You know, he like collapsed. Yeah. Literally passed out. Yeah. That was. While making food.

2:18.4

Yeah.

2:18.7

That's how hard we worked him.

...

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