Long-Term Wealth: Surviving and Thriving in a Challenging Economy
Wealthy Way
Ryan Pineda
4.9 • 2.2K Ratings
🗓️ 11 December 2024
⏱️ 10 minutes
🧾️ Download transcript
Summary
A tough economy challenges us to think strategically and focus on resilience. Long-term success isn’t just about surviving—it’s about adapting, innovating, and staying ahead.
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About Ryan Pineda:
Ryan Pineda has been in the real estate industry since 2010 and has invested in over $100,000,000 of real estate. He has completed over 700 flips and wholesales, and he owns over 650 rental units. As an entrepreneur, he has founded seven different businesses that have generated 7-8 figures of revenue.
Ryan has amassed over 2 million followers on social media and has generated over 1 billion views online. Starting as a minor league baseball player making less than $2,000 a month, Ryan is now worth over $100 million. He shares his experiences in building wealth and believes that anyone can change their life with real estate investing.
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Transcript
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| 0:00.0 | So when you talk about the bad economy, like literally during the bad times or coming out of the bad times when everyone's wounded. |
| 0:08.2 | A little bit of both. |
| 0:09.1 | Got it. |
| 0:09.4 | A little bit of both. |
| 0:10.6 | Because like that's where I think we are now. |
| 0:12.4 | Yeah. |
| 0:12.6 | We're like coming out of this time. |
| 0:14.5 | So for example, for both your, what you just said, the gold business that I had, it was the absolute worst economy. I mean, |
| 0:21.8 | everything was like horrible. It was 2007, eight, nine, 10, 11, 12, 13, right? It was the worst. |
| 0:27.6 | I was making more money during that time than anybody because I had so much money. I was able to, |
| 0:33.1 | you know, buy people's whatever for nothing. For nothing and they were happy selling it and I was able |
| 0:39.7 | to sell it right away and make all that money right away if it was a great economy I still could have |
| 0:43.5 | made money but nowhere near people wouldn't have sold as much so that's a way during a bad economy |
| 0:48.6 | where someone that has money could buy something from someone and sell it to someone else and make a lot |
| 0:53.0 | of money but the way you make a lot of money. But the way you make |
| 0:54.6 | a lot of money long term in a bad economy is, let's just say you're not good at buying and selling |
| 0:59.5 | stuff, but you have a lot of extra money. Well, what happens in a bad economy? Real estate drops. |
| 1:03.6 | Things drop. So you could now take your money and buy a whole lot of stuff for really cheap, |
| 1:08.6 | you know, 10, 20 cents on the dollar. And then you might not be able |
| 1:11.0 | to sell it right now because it's a bad economy. But five, eight years from now, you might |
| 1:14.4 | get 10 times what it's worth. And that's how you can make a lot of money. So you could make money |
| 1:17.7 | both ways, like right? Right. One is bad or buying it and just waiting a little time and then |
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