Real estate investing is a powerful tool for building wealth — but without firm personal finance skills, an investor could lose everything! On this episode of the BiggerPockets Podcast, we talk with CNBC correspondent Natali Morris about the financial skills you need to succeed. In this discussion with Natali, we talk about the limiting beliefs that stop a person from achieving success, the difficulty in raising children to be financially smart, how to keep your family “afloat” while building your business, and much more!
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This Show Sponsored By
We just wanted to give a shout out to our podcast sponsor on today’s show: RealtyShares. RealtyShares is a crowdfunding platform that allows you to invest in professionally managed properties without leaving your living room!
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A huge thanks as well to our Fire Round sponsor MileIQ.
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In This Episode We Cover:
- How Natali serves as “chief home officer“
- How she makes the finances work
- How she makes use of spreadsheets
- A conversation on convincing your spouse to invest
- Thoughts on shifting from the stock market to real estate
- What Natali does in real estate
- A conversation about turnkey real estate
- How she thinks of budgeting
- How Natali overcame a hard time in her marriage
- The “profit first” philosophy in business
- Why you should always pay yourself first
- Limiting beliefs and how to overcome them
- Avoiding the “buts” and “the problem is” phrase
- The importance of teaching kids the value of dollar and not spoiling them
- How she’s able to manage her time as a mom
- How debt causes stress
- And SO much more!
Links from the Show
- BiggerPockets Analysis
- BiggerPockets Calculators
- BP Podcast 151: Finding Your “Freedom Number” with Clayton Morris
- Be a Podcast Guest
- BP Podcast 162: How to Pay Less to the IRS with Amanda Han, CPA
- How To Track And Manage Your Rental Properties (blog)
- Confronting Your Limiting Beliefs About Wealth (blog)
Books Mentioned in this Show
- Profit First by Mike Michalowicz
- Rich Dad Poor Dad by Robert Kiyosaki
- Tax-Free Wealth by Tom Wheelwright
- The Book on Tax Strategies by Amanda Han and Matthew MacFarland
- The Opposite of Spoiled by Ron Lieber
- A Happy Pocket Full of Money by David Cameron Gikandi
- The One Thing by Gary Keller and Jay Papasan
- “What you resist persists.” (Tweet This!)
- “Your thoughts become things.” (Tweet This!)
- “What’s easy to do is easy not to do.” (Tweet This!)