144: Alternative Investments: How to Determine Which Option(s) Are Right For You with Kirk Chisholm

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.6 • 2.9K Ratings

🗓️ 28 September 2020

⏱️ 79 minutes

🔗️ Recording | iTunes | RSS

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Summary

Kirk Chisholm is a fee-only investment advisor with a secret passion - finding new and different ways to invest money. Kirk shares his Big List of 75 Alternative Investments with us today - and more importantly, how to vet the investment vehicle to see if it's right for you. Not everything is a great fit for every person, and you certainly don't have to choose everything on the list. Play to your strengths when choosing investments and don't discount passion for an idea. If you HATE the thought of learning more about that investment vehicle, you won't put forth the correct amount of effort necessary to master it. Kirk also dives into how to sell these types of alternative investments - including at significant discounts if it's an illiquid asset that you need to liquidate fast. Secondary markets exist for all asset classes, and there are ways to pick up a good deal on the secondary market as well. If you're looking to diversify your portfolio, today's show is a can't-miss episode! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Against the Rules with Michael Lewis Podcast The Big list of 75 Alternative Investments Check the full show notes here: https://www.biggerpockets.com/moneyshow144 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the BiggerPoggas Money Podcast, Show Number 144, where we interview Kirkchism from Innovative Advisory Group and discuss alternative investments.
0:09.0	I think real estate is a great overlay for all of this conversation even though we're trying to talk about
0:13.7	alternatives. If you're buying real estate, it's illiquid. If you have to sell, you're going to get a crappy price. If you have to buy, you're going to get a crappy price.
0:24.0	If you're patient, like in around here in Massachusetts and most places in the country,
0:28.8	it is a seller's market.
0:30.8	Hello, hello, hello, my name is Mindy Jensen, and with me as always is my smashing co-host
0:35.2	Scott Trunch. Wow, what another forceful introduction from Mindy, thank you.
0:39.1	Scott and I are here to make financial independence less scary, less just for somebody else
0:44.9	and show you that by following the proven path, you can put yourself on the road to early financial
0:49.2	freedom so you can get money out of the way and leave your best life.
0:53.6	That's right.
0:54.6	Whether you want to retire early and travel the world, go on to make big-time investments
0:57.2	in assets like real estate or alternative options like mineral rights, structural
1:01.2	settlements, or 73 more.
1:03.1	Or start your own business will help you
1:04.7	build a position capable of launching yourself
1:06.9	towards those dreams. Scott, I'm super excited for today's show because we're talking to Kirk Chism. I've known him for several years and he's an advisor, a financial advisor, who has a passion for alternative investments.
1:28.8	I'm not talking about Bitcoin. Oh wait, I am talking about Bitcoin and horses, at mineral rights, and all sorts of things that you
1:36.2	didn't know you could invest in. Or at least I didn't know you could invest in.
1:39.6	Yeah, I mean he is a great framework and wealth of experience investing in these types of things.
1:45.3	And I just learned a ton from Kirk today, so I'm excited to bring him on.
1:48.9	I am super excited to bring him on to, we don't get into the ins and outs of the individual investments so much as the framework and the mindset around what you need to be thinking of before you jump into these alternative investments.
	...

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