Jim Pfeifer is back on the show today to talk about a variety of topics with Brian and John. Jim has given up most of his financial advising licenses because of his preference towards alternative investments. He especially likes real estate syndication, so he provides an explanation of it and how exactly he is involved in it. We also get to hear Jim’s thoughts on the economy and the large debt bubble that currently exists in the USA. He shares his insights on why he thinks real estate investing is superior to the stock market, but also why he is getting out of multi-family home investments.
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Covered Topics:
- The outlook of the stock market and real estate investing.
- Real estate syndication and why it is attractive.
- The different approach that Jim takes compared to the guys when investing in real estate.
Show Notes:
- 01:04 – What’s been happening lately.
- Selling the first house that Brian and John completely overhauled.
- Two houses that the guys picked up yesterday.
- 04:12 - Introducing Jim Pfeifer.
- 05:45 - What Jim is focusing on these days.
- Getting out of the multi-family market and why Jim is doing this.
- Mistakes that were made when he purchased these units.
- The complexity of win-lose situations.
- Transitioning from paper assets into real assets.
- 11:13 – The perspective Brian and John take towards managing property versus Jim’s perspective.
- Using property managers and Jim’s desire for cash flow.
- Looking at things passively instead of actively.
- A situation where Brian and John had half the tenants leave a multi-family building.
- 16:24 – What Jim has been doing and what his goals are.
- His new real estate company that started with ten investors.
- An explanation of real estate syndication.
- Jim’s reliance on people that he knows, likes, and trusts.
- The conflicts of being a financial adviser and being involved in alternative investments.
- 23:31 – How Jim makes money with real estate syndication and a deeper look at the topic.
- Becoming a full-time investor to replace his financial advising income.
- Realizing that he shouldn’t learn new things about real estate if he isn’t going to use that knowledge very often.
- Looking at what income assets are producing instead of how much they are worth.
- 27:50 – What Jim sees coming in the stock market.
- The federal government’s concern about not having another crash, causing a credit cycle.
- The debt bubble and its contributing factors.
- Jim’s views on the economies of other countries and generations.
- The difficulty of getting a loan now.
- 35:28 – A discussion about the book Prosper! by Chris Martenson and Adam Taggart.
- Resources being finite but the economy growing forever.
- Items that John and Jim bought after reading this book.
- 39:41 – Jim’s other alternative investments.
- Investing in farms in Belize and Panama.
- Marijuana and CBD investments.
- Mobile home lending in Alabama.
- More areas that Jim is looking at investing in.
- 45:44 – Real estate and investing podcasts that Jim likes listening to.
- 49:07 – Closing remarks from Jim.
- Believing that everyone should have some opportunity to invest in real estate.
- Achieving time freedom.
- Brian and John’s philosophy towards doing this podcast and investing in real estate.
Topic Takeaways
- There are several advantages to real instate investing over the stock market, and the only way to get started is to take action.
- Real estate syndication is great for passive investors.
- Stay informed about what is happening in the economy. Darker times may be approaching.
Tweetable Quotes
“In real estate, we can control a lot of what’s going on at a particular property… There are more things in control than if you just bought stock in some company.” (Tweet This!)
“I’m not as into ‘what are my assets worth?’ I’m into ‘what are my assets producing?’” (Tweet This!)
“The way people handle their finances, they just do what everyone else does… I don’t want to be that guy. I don’t want to do what everyone else does. I want to do what makes sense to me, makes me money, and gives me freedom.” (Tweet This!)
