158: Are You Under Leveraging? Finance Friday with Investor and Agent Wayne Loux

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.6 • 2.9K Ratings

🗓️ 1 January 2021

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

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Summary

Happy New Year! With the first 2021 episode of Finance Fridays, we take a look at Wayne Loux’s investments, income streams, and overall finances.

Wayne is like many of our listeners: working a W2 job, but also supporting himself and his family by having 1099 income from being a real estate agent. On top of that, Wayne has over 10 rental units, spread throughout different multifamily properties. He also has solid retirement savings and cash on hand.

With all this income, Wayne wanted answers on whether or not he should lessen his time at his W2 job, take more cash out from equity in the multifamily properties he owns, and other common real estate investment questions.

Scott and Mindy go through different strategies that can help Wayne grow his portfolio. From 1031 exchanges, to setting up self-directed IRAs, and cash-out refinancing to build an out of state portfolio.

These are questions we hear from many investors on the BiggerPockets forums, so stay tuned because Scott and Mindy just might answer a question you’ve had!

In This Episode We Cover

How to value your time as a high-earning professional
Putting family over work, even if it means stepping away from an income stream
Which investments should you put money into when all your bills are being paid?
SEP IRAs and Self-Directed IRAs
Using 1031 exchanges to lower your tax burden when investing
Finding jobs that can scale your income (and leaving those that don’t)
Whether you’re over or under leveraging your current portfolio
How to speak to your partner about big financial steps
And So Much More!

Links from the Show

Check the full show notes here: https://www.biggerpockets.com/moneyshow158

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0	Welcome to the Bigger Pockets Money Podcast, show number 158 Finance Friday edition, where
0:06.6	we interview real estate agent Wayne Lux and talk about re-evaluating a rental portfolio
0:11.2	to generate more income and re-evaluating W2 Employment to spend more time with the family.
0:16.1	Two of the five or six properties, I would say, have seen greater appreciation because
0:21.5	we purchased them around 2007-2008.
0:24.6	And then the rest was thanks to you guys actually because bigger pockets was introduced to me
0:30.3	by a friend of mine and a colleague and she said, you gotta listen to them because you're
0:36.0	doing everything that they do, but you don't have any real focus right now.
0:42.3	Hello, hello, hello, my name is Mindy Jensen and with me as always is my ex-cell spreadsheet
0:46.9	love and co-host Scott Trunch.
0:49.0	I always love your formula for introductions Mindy.
0:51.9	Thank you.
0:52.9	I can't hear it inside.
0:59.9	Mindy, I can't hear it at all.
1:06.9	Mindy always laughs at those because Mindy will have one of those things and she'll say,
1:12.0	maybe this would be a good putt and I've always like, I got a formula for that ex-cell
1:16.8	putt.
1:17.8	Sorry, I'm gonna go with this but if I use her and just say, I'm gonna go with this
1:22.8	intro.
1:23.8	She won't laugh as much but if I give her a different, I don't know, a new pun on the
1:27.7	spot, I get her going.
1:29.7	But you are my ex-cell spreadsheet loving co-host.
	...

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