Let’s get this out of the way right up front. I do not offer nor should anything on the site be construed as legal, tax, business or investing advice. The only license I have currently, and plan to have, is to practice medicine. Nonetheless I feel that I have some valuable insights and experiences that could be useful to fellow investors in their educational journey.
I have found that the most helpful blogs, youtube channels, podcasts etc., all have a component dedicated to answering user questions. As a content creator, there is no better way to validate that your material is connecting with your audience than to get their direct feedback. It’s for this reason I’m encouraging all of my website visitors and email subscribers to click on the Ask Dr. Meadows tab to leave a voicemail comment or question. I will do my best to give some useful educational tips and guidance, but will be sure to stop short of direct advice.
With that out of the way let go to our first question. It comes from Andrew, who is a veterinarian that currently owns 1 cash flowing rental property. He is preparing to buy his second but is wondering if he should give private mortgage lending or real estate crowdfunding a try. Let’s listen in.
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Podcasts have been an absolute godsend in my investing journey turning an otherwise nonproductive commute into prime learning time. In the arena of real estate, BiggerPockets.com has been the most useful as I have gleaned plenty of actionable advice and inspiration from the talented roster of guests that owners Brandon Turner and Josh Dorkin bring on. I had the honor to be a guest myself on episode 219 and gave my insights on some of the more passive investing strategies suitable for time constrained busy professionals. We focused specifically on 3 arenas including turnkey rental property, private mortgage lending, and real estate crowdfunding. The latter seemed to strike a particular cord with the audience as I received a plethora of email inquiries wanting to know more details about my experiences. They all basically boiled down to two questions:
- What platforms do you use?
- What have your results been?
There are a plethora of crowdfunding sites out there and the proliferation continues as both investors get more comfortable with the concept and the real estate entrepreneurs get past the negative stigma of raising capital online. In total I am on nine different sites but in the accompanying video, I am going to highlight just three of them that I feel have distinct profiles in terms of the types of deals they offer, and meet the following criteria:
- The platform has been in existence for a minimum of 3 years
- I have been investing on it for at least 2 years
- I have had at least 1 successful exit on a deal
I hope after viewing it, your interest will be piqued sufficiently to seriously explore this emerging asset class and start participating. Be sure to check out our interviews with the CEOs of 2 of the 3 platforms mentioned in the video here.
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Podcast have been absolutely essential in my growth as an investor. When you reflect back on Robert Kiyosaki’s Cashflow quadrant, he states that the core value of the investor needs to be knowledge. Since you are deploying your hard earned capital, you need to have an adequate understanding of the potential benefits and risks of whatever investment you choose to participate in it.
Podcasts have proven to be superior in terms of the efficient delivery and ultimately consumption of useful investment information-particularly when compared to books and even video in my experience. I often digest an episode during my morning rituals and work commute transforming this otherwise mundane period into prime learning time.
Invest Like a Boss is relatively new on the podcast scene but has quickly shot to the top of my list whenever they release a new episode.
Dr. Kenyon Meadows introduces his blog AlternativeFinancialMedicine.com, “the cure for low yields”. Focusing on alternative high yield alternative assets with monthly returns, the site aims to educate viewers to the vast array of investment options beyond traditional stocks and bonds. A particular emphasis will be placed on real estate and online lending including rental property, peer to peer lending and equity crowdfunding.
The content will primarily be video and include expert interviews, product reviews, and Dr. Meadows’ personal investment experiences.
Download a free sample chapter on Hassle-Free Rental Property from my upcoming book, Alternative Financial Medicine. As a busy professional, you don’t have the time or management bandwidth to devote to a rental portfolio but want to enjoy all of the financial benefits of ownership. Well run turnkey companies handle finding a property, renovating it, placing good tenants and provide ongoing management so that you can focus being an investor in a cash flowing asset rather than a landlord.
We also want to foster as much interactivity as possible so don’t forget to click on the Ask Dr. Meadows tab and leave me a voicemail question or comment. I will respond either via email or, for particularly relevant questions, via a posted video response so the whole community can benefit.