From $100K in Debt to Millionaire Real Estate Investor with Jaren JD Sustar | The Jake and Gino Show
Welcome to another enlightening episode of the Jake and Gino Podcast. Today, host Gino Barbaro is thrilled to have Jaren JD Sustar, a remarkable real estate investor and the vibrant host of the Finance Cowboy Show. By 30, Jaren flipped his financial script from being $100,000 in debt to building a net worth of over a million dollars through astute real estate investing. Now, he’s on a quest to help others achieve financial freedom.
Takeaways:
Increase your income and reduce expenses to overcome debt.
Focus on experiences and relationships rather than material possessions.
Seek mentors and network with successful individuals in the real estate industry.
Take action and overcome fear to start your real estate journey. Building a strong relationship with your spouse is crucial when pursuing financial goals. It is important to communicate effectively and paint the picture of your financial vision.
After buying your first rental property, the next step is to continue investing and scaling your portfolio. The BRRRR strategy, which involves buying distressed properties, rehabbing them, renting them out, refinancing, and repeating the process, can be a powerful method for growth.
Raising capital for real estate investments can be done through family, friends, coworkers, and hard money lenders. Building a brand and showcasing successful deals can attract potential investors.
Leaving your job should be a thoughtful decision based on your financial situation and personal fulfillment. It is important to create autonomy and have the optionality to choose whether to continue working or pursue other interests.
Reading books on personal finance, real estate, and business can provide valuable knowledge and insights for building wealth and achieving financial freedom.
Looking forward to the future, it is important to enjoy the fruits of your labor and focus on increasing your present happiness and fulfillment.
Chapters:
00:00 Introduction
01:12 Starting with Debt
03:16 Increasing Income and Reducing Expenses
04:31 The Impact of Spending Habits
05:23 Finding Motivation to Overcome Debt
06:19 The Role of Material Possessions in Happiness
09:01 Entering the Real Estate Journey
10:17 The Influence of Mentors
11:21 Paradigm Shifts in Real Estate
13:11 Preparing for Real Estate Investment
15:17 Building a Financial Foundation
18:32 The Importance of Accountability and Mentorship
21:12 The Time and Patience Required for Real Estate Success
22:21 Building Trust and Alignment with a Partner
23:14 Difficult Conversations about Debt and Spending
23:21 Building a Strong Relationship with Your Spouse
26:50 Painting the Picture for Your Spouse
26:57 The Next Step After Buying Your First Rental Property
31:20 Raising Capital and Building a Brand
34:33 Leaving Your Job and Creating Autonomy
38:29 Book Recommendations
39:20 Looking Forward to the Future
41:09 Gino Wraps It Up