449 | Rubber Ducks and Systems for Land Investing

ChooseFI

Brad Barrett | Choose FI Media

Financialindependence, Investing, Firemovement, Passiveincome, Frugalliving, Personalfinancepodcast, Daveramsey, Careers, Business, Earlyretirement, Habits

4.8 • 5K Ratings

🗓️ 7 August 2023

⏱️ 75 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In this episode: determining your FI goals, real estate investing, land investing, liquidity, and proof of concept.

Whether you are new to FI or have achieved it, you have probably noticed a big change not only in how you live your life, but how you perceive yourself. You may be more intentional and strive to make changes in all areas of your life, not just financial ones. This week we are joined by our friend JT Olmstead to discuss the ins and outs of land investing, as well as talk about the importance of having the right mentality to accomplish your goals and become the best version of yourself. While on the journey to FI, you may feel momentum and motivation to keep pushing towards your FI number, but oftentimes the journey doesn’t end when you get to the finish line. A large part of this journey is learning from failures, changing your goals, and changing your plans as you change! Though your plans and goals may not always be accomplished the way you think, having the right mindset throughout this journey will be just as beneficial to you as having plans in place.

Timestamps:

0:56 - Introduction
5:20 - Determining Your FI Goals
11:34 - The Top End of Your Capabilities/The Skill Of Saying No
22:01 - Real Estate Investing
27:43 - Transitioning to Land Investing
32:16 - The Intersection of FI and Real Estate Investing
42:12 - Personal Proof of Concept/Land Investing
48:17 - Liquidity/Structuring Buying and Selling Systems
59:52 - Resources For Land Investing/Where to Start
62:59 - The Hot Seat
72:12 - Conclusion

Resources Mentioned In Today’s Episode:

More Helpful Links and Resources:

Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
Keep learning or start a new side hustle with one of our educational courses
Commission-Free Investing with M1 Finance

Transcript

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0:00.0	Hello and welcome to ChooseUpFight.
0:01.8	Today in the show, we have long time
0:03.5	five community member, JT Olmstead here,
0:06.0	and I actually met JT this Memorial Day
0:08.8	at Camp Five, Mid-Atlantic,
0:10.8	and we had just an amazing conversation,
0:13.2	and I knew I had to get them on the podcast.
0:15.5	It's interesting because my biggest financial failure
0:19.1	is in land speculation,
0:20.8	which I've documented many times here on the podcast,
0:23.4	and in a fascinating turn, JT is actually a land investor,
0:28.4	and he's built this amazing business
0:30.8	with incredible systems, and I was fascinated,
0:34.1	and I almost actually just stopped the conversation
0:36.1	and said, all right, I wanna go in as like a white belt
0:38.6	to the conversation we have on the podcast.
0:41.1	So I stopped it there, and we're picking up today.
0:44.0	So this is gonna be fantastic.
0:45.9	Welcome to ChooseUpFight.
0:48.0	JT, I'm so happy to have you here.
0:56.9	This should be fun.
0:57.8	Yeah, thanks for having me.
	...

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