646: Building Wealth Like Warren Buffett & Lessons Learned from Billionaires w/Trey Lockerbie

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 9 August 2022

⏱️ 79 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Every investor has wondered how to invest like Warren Buffett. He’s arguably the best stock trader of all time—preaching the fundamentals of investing in equities, something that most modern-day investors seem to forget. We’re seeing the same thing in the real estate industry. With a runup of home prices and stock prices over the past two years, almost every investing strategy has worked. But, as prices begin to plummet, overconfident investors are starting to see the errors of their ways and that making money isn’t always easy. So in today’s risky environment, we have to ask: what would Warren (Buffett) do? Someone who’s been asking that question for years is Trey Lockerbie. He’s co-host of We Study Billionaires, where he interviews some of the best and brightest investors on planet earth. Trey has lived an interesting life. He was a musician, went on the road for years, started a kombucha brand, and now reads everything he can on how to build billion-dollar businesses and billion-dollar wealth. With the aura of fear many of us are feeling in the investing space, Trey brings in some much-needed clarity on what investors should and shouldn’t be doing right now. And he got some of this advice directly from top stock investor himself, Warren Buffett. While we do go deep into the coming opportunities for real estate investors, we also hear about how stock investing isn’t so different, and why the massive drop in cryptocurrency prices could be an opportunity for investors who are on the fence about blockchain. Regardless of what you invest in, how much you invest, or whether or not you’ve started investing, Trey can enlighten you on how to maximize the decision you’re about to make. In This Episode We Cover: Secret investing lessons learned at a dinner with Warren Buffett Understanding the “human” element behind why markets rise and fall Fear vs. greed and whether or not to buy in an overly pessimistic investing environment Why Bitcoin is becoming more attractive to real estate investors even as its price drops Inflation, money printing, and how the world’s debt works How high will interest rates go and what investors should prepare for Starting a business that can sell for millions (or billions) and how to get there And So Much More! Links from the Show BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast Get Your Ticket for BPCon 2022 Listen to All Your Favorite BiggerPockets Podcasts in One Place Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area David's BiggerPockets Profile David's Instagram Rob's BiggerPockets Profile Rob's Youtube Rob's Instagram Rob's TikTok Rob's Twitter Listen to Our Past Episode with “We Study Billionaires” Host Stig Brodersen Check Out Our Episode with Ed Mylett on Investing Opportunities in 2022 How I Hired Warren Buffett as My Real Estate Mentor “We Study Billionaires” Podcast Connect with Trey: Trey on Twitter Drink Some of Trey’s Superb Kombucha Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-646 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	This is the bigger pockets podcast show six forty six if you look at building your own business
0:06.2	You're building your own equity. That's probably your fastest best way to wealth
0:10.5	But it's highly concentrated right like all your time is in this one business
0:14.3	You're putting all the sweat equity into it. You're growing it
0:17.6	But the payoff could probably be worth more than anything else real estate
0:22.1	I think is the next step down from that where it's like it's definitely effort more so than stock market and it's definitely probably
0:28.6	The second best way to grow wealth, but it just takes a little bit less effort than you know, maybe
0:33.1	Running a day-to-day business yourself. What's going on everyone?
0:35.8	This is David Green your host of the bigger pockets real estate podcast here today with my good buddy and co-host Rob
0:42.0	Abisolo as we interview one of the hosts of the we study billionaires podcast
0:47.6	Tray Lockerby and today's show we get into the good
0:51.0	Nitty gritty and big picture stuff about what the heck is going on in today's economy
0:56.9	Rising interest rates
0:59.2	seller panic people that aren't sure for going into a depression or if this is a great buying opportunity
1:04.5	Stocks crypto real estate we get into some really good stuff by someone who makes his living
1:10.2	Steading very successful investors Rob. What are some of the highlights? This is to that to you from today's show
1:15.2	I mean Tray is a quite the impressive fellow. Well first of all, we should call him Tray Mr. Butter voice
1:22.0	Lockerby because very soothing so this is definitely a very very
1:26.0	Easy listening one, but you know very impressive fellow. I mean he is a songwriter
1:31.8	Relatively established it seemed like from from what we could take it you know pry out of them and used to tour with lady A
1:37.8	Then he's really got into the whole you know
1:41.6	He casually found himself at dinner with Warren Buffett and he's really made a guess a career
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from BiggerPockets, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of BiggerPockets and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.