REI075: Financial Planning + Real Estate Investing w/ Mark Willis

The Intrinsic Value Podcast - The Investor’s Podcast Network

The Investor's Podcast Network

Business, Education, Investing

4.6 • 592 Ratings

🗓️ 21 June 2021

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Robert Leonard and Mark Willis talk about how to properly manage real estate properties, proactively use equity, tax reduction strategies, other creative real estate funding solutions, and much, much more. Mark is a Certified Financial Planner (CFP), a three-time #1 best-selling author, and the owner of Lake Growth Financial Services, a ﬁnancial ﬁrm in Chicago, Illinois. He is also the co-host of the Not Your Average Financial Podcast. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 03:51 - Why many financial advisors and planners don’t recommend real estate to their clients and why Mark made the switch to real estate. 06:39 - How to properly manage real estate properties. 12:23 - What it means to “proactively” use equity and how to do it. 15:48 - How real estate plays into someone’s tax strategy and what the other components of a tax strategy are. 19:59 - The benefits of doing financial planning and preparations one can do to achieve early retirement. 29:11 - What the worst and most common mistakes people are making financially. 32:11 - What the very first thing to look at when assessing one’s current financial position and where to begin in one’s personal finance journey. And much, much more! *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. Get more FREE content from Robert. Get a FREE audiobook from Audible. Mark Willis’ podcast, Not Your Average Financial Podcast. Chad Carson’s book Retire Early with Real Estate. Michael Blank’s book Financial Freedom with Real Estate Investing. All of Robert’s favorite books. NEW TO THE SHOW? Check out our Millennial Investing Starter Packs. Browse through all our episodes (complete with transcripts) here. Try Kyle’s favorite tool for picking stock winners and managing our portfolios: TIP Finance. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: Fiscal.AI Connect with Robert: Website | Instagram Connect with Mark: Facebook | Twitter | LinkedIn | Website Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Transcript

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0:00.0	You're listening to TIP.
0:02.3	On today's show, I chat with Mark Willis to talk about how to properly manage real
0:06.9	estate properties, proactively use equity, tax reduction strategies, other creative real estate
0:13.4	funding solutions, and much, much more.
0:16.3	Mark is a certified financial planner, a three-time bestselling author, owner of late growth financial
0:22.2	services, and co-host of the Not Your Average Financial Podcast. Not many financial planners
0:28.8	recommend real estate to their clients. Because of one of the things Charlie Munger says is
0:34.7	most important, and that is incentives. Most financial planners aren't
0:39.2	incentivized to advise their clients on real estate, so they don't. When I heard Mark is a financial
0:44.4	planner and actually recommends real estate, I thought it'd be interesting to sit down and have a
0:48.8	conversation with him about it. So, let's get right into it.
1:01.3	You're listening to Real Estate Investing by the Investors Podcast Network, where your host, Robert Leonard, interviews successful investors from various real estate investing niches to help
1:06.6	educate you on your real estate investing journey.
1:22.7	Hey, everyone. Welcome back to the Real Estate 101 podcast. As always, I'm your host, Robert Leonard. And with me today, Mark Willis joins me. Welcome to the show, Mark.
1:28.1	Hey, thanks, Robert. Glad to be on.
1:30.2	Take it a minute or two and give us a quick rundown on your background and how you got to
1:34.7	where you are today.
1:36.2	Well, imagine you're in the military and your first day on the job, so to speak, is to be
1:43.7	parachuted into the front lines of a war.
1:47.0	That's sort of what it felt like when I started in the financial services industry in 2008 and
1:52.0	nine. The world was coming undone. We weren't sure if we were going to be open the next day
1:57.6	for business as a world. The global economy was in shutdown mode. It felt
	...

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