How Rich People Use Debt to Build Wealth | 1243

Epic Real Estate Investing

Matt Theriault

Education, Business, Investing, How To

4.8 • 955 Ratings

🗓️ 17 November 2022

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

We all know that debt is bad and risky. Is it? Of course not! But the people using it can be. If you get this wrong you’ll struggle to get wealthy while you’re still young enough to enjoy it. But when you get it right you can compound assets, and that traditional 40-year plan your parents, and grandparents, followed can be collapsed into 4 or 5 years. No foolin’! When you leverage debt, you get to take a small portion of your own resources to acquire a large portion of someone else’s. Listen to this episode, and you’ll be the smartest person at the table the next time the subject comes up. Are you ready? Let’s go! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is terio media.
0:04.0	Want to get wealthy the way rich people do it?
0:07.0	Watch this. Welcome to the all new epic real estate investing show
0:15.8	the longest running real estate investing podcast on the interwebs
0:19.9	your source for housing market updates, creative investing strategies,
0:23.5	and everything else you need to retire early.
0:27.3	Some audio may be pulled from our weekly videos and may require visual support.
0:31.8	To get the full premium experience, check out Epic Real
0:34.8	Estates YouTube channel, Epic REI. TV. If you want to make money in real estate, sit tight
0:42.1	and stay tuned. If you want to go far, share this with a friend.
0:46.4	If you want to go fast, go to re I ACE.com.
0:50.9	Here's Matt.
0:51.9	70% of the American economy is based on consumer spending.
0:56.1	The true lasting American value. People are spending money they don't have on things
1:01.0	they don't need to impress people they don't like. They max out their credit cards and
1:05.2	spend the rest of their lives paying 22% interest on something that cost $14.75 and they didn't
1:11.6	care too much for it when they got a home in the first place.
1:14.0	That's not a good use of debt.
1:16.2	That will not make you wealthy, but that's how most people use it.
1:19.7	So debt gets a bad rap.
1:21.7	But like the brilliant yet diabolical Amy Dunn, debt has some very redeeming
1:26.7	qualities when executed correctly. Like you can get richer and wealthier using debt than you can
	...

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