Everything You Want to Know About Real Estate Investing & REITs – Joy Schoffler

Summary
Real estate investing is another way for millennials to build their wealth other than the stock market and you don’t need to be ultra-wealthy to start.    

In this episode, Joy Schoffler, chief strategy officer for Upside Avenue and a leader in the financial technology community shares how she was able to take her family on an overseas vacation for a month for the last for 4 years, achieve a lot of her life goals and start one of Inc.’s 5000 fastest growing companies, by saving a little bit at a time and living conservatively.  Get her pro tips on real estate investing and learn how you can start early as now.

Resources
Key Takeaways
  • It’s not what you make it’s what you keep at the end of the day.
  • The more financial education I got, the savvier I save.
  • In real estate investing or life insurance policy look out for fees and commissions that has been taking off to investors money.
  • It is also important for investors to know what types of assets their REITs investing in.
  • Retail, office and new development projects may not be good type of assets for REIT.
  • Look for things that going to be good for up and down markets like mid-range apartments, senior living facilities and communities with asian communities.
  • Take advantage on free education, start investing and try the trial and error.  
  • Your money is not just money, it’s your kid’s college.  That’s your health. That’s your ability to make better choices for yourself.  
  • If your interested in real estate investing do your homework and make sure that the people have the experience and have the right kind of access in the right kind of deals.
  • There are public traded REITS and non traded REITS.
  • The decision to live more conservatively,save and invest allowed me for the last 4 years at least a month of overseas vacation with my family, achieve a lot of life goals and start a company.
  • Invest for cash flow not only for short-term gain but get yourself a passive streams of income coming in.
  • Small decisions that we make that’s how we do wealth and that’s how we change the generational poverty that we are in.
  • Save a little bit at a time to build up whatever your minimum is and put it somewhere you can’t touch.