Flashback Friday Ep 45 - Your W2 Is Your Addiction: Make A Plan, Copy The Wealthy & Bet On Yourself

In this Flashback Friday episode, we welcome back Lee Johnson as he discusses the importance of doing thorough background checks and due diligence when vetting potential sponsors and investments, as well as investing with a long-term plan in mind. ________________________________ Interested in investing in small multifamily? Learn more about The Microfamily Mavericks mentorship program here: ⁠https://www.microfamilymavericks.com/casestudy⁠ Check out our podcast website! Thesharethewealthshow.com Want to leave feedback or suggestions on our show? Take our survey: https://s.surveyplanet.com/c1xu5qdv ________________________________ [00:00 - 12:35] Building Generational Wealth Preservation of capital is the first rule of the game How compound interest can grow Building a portfolio of assets to offset active income with passive income Conducting business under an entity (LLC) instead of personal name [12:36 - 19:25] Investing in Assets Becoming a paper millionaire by investing in assets rather than liquidating them Leveraging Hyatt legal plan to set up wills, living trusts, and irrevocable trusts Protecting assets with family office and taking out low interest loans against them [19:26 - 24:19] Why Your W2 Today is Your Addiction? Breaking addiction to a steady paycheck and benefits Why we should execute a goal Building up other streams of income for safety net [24:20 - 31:51] Closing Segment The final questions Diversifying income sources to create a safety net Buying real estate (Boardwalk) and adding houses for big payouts when people land on it in Monopoly Wealth means being able to call your shots on your own timing Needing a person in marketing to take business to the next level What’s next for Lee? Key Quotes “You have to be doing more than just raising capital in order to be in compliance with the SCC rules.” - Lee Johnson “The first rule of the game is preservation of capital.” - Lee Johnson Connect with Lee Johnson! valueinvestmentpartners.com LinkedIn   / passivereipros   Instagram   / value_investment_partners   Let’s get connected! You can find Nicole on LinkedIn   / nicole-pendergrass   Instagram https://www.instagram.com/nvestornikk... Facebook   / nvestornikki   or Visit her website https://noirvestholdings.com LEAVE A REVIEW & SHARE THE WEALTH by SHARING this EPISODE with someone who wants to learn the secret strategies of the wealthy and build an abundant life. You can listen to previous episodes of Share the Wealth Show here: https://podcasts.apple.com/us/podcast...