Wealth Formula Podcast

Lane is your classic highly educated, high wage earning professional. However, he doesn't throw his hard earned money into the stock market. Lane uses his money to buy houses and is gradually phasing out his own need to have a boss. At the age of 30, he's already more than half way to replacing the income generated by his engineering job. The best thing about Lane is that he knew NOTHING about rea...

This week's episode of Wealth Formula features the first of many episodes of "Ask Buck" where you, my fellow professionals looking to transform into entrepreneurs and sophisticated investors, ask me the questions that are on your mind. This week's topics include questions about cash flow versus cash reserves, topics in real estate LLCs, flipping versus cash flow investing and more. Ask your questi...

I approach everything in life similar to the way I approach business. One of my cardinal rules as an entrepreneur is to avoid working IN a business so much that I stop working ON it. For example, if you have a bakery, you don't want to be the one who is baking, doing accounting, and sales at the same time. If you do that, you become too busy to do anything else but daily tasks and, as a result, yo...

Wealth Formula podcast is not a real estate show. However, we do love real estate! Why? Because real estate is real. It's not a piece of paper and it's not a digital equity that you trade on Ameritrade that goes up and down with the whims of global emotion. It is an investment that allows us to own something that has nothing to do with Wall Street. We also love it because it can provide us with on...

Over the last several podcasts I have been impressed by the increasing number of listeners that are tuning in to the show and am really excited about the community we are growing together. For that, I thank you. This week I'm traveling but thought it would be a great opportunity for me to share more about myself with you. A few weeks back I was interviewed by Lane at "Simple Passive Cashflow Podca...

Solving the wealth formula is dissociating time from money. In other words, you no longer need to actively work in order to maintain a particular lifestyle. It is important to know that entrepreneurship is not required in order to get to this point. In fact, if you already have a high-paying job, your quickest way for you to gain financial independence may be to keep your job and focus your attent...

Ask any tax professional about the tax code and they will tell you that it is 90 percent gray. Then why is everyone being so conservative? Well, professionals have a terrible fear of being audited. They have a terrible fear of breaking the law. I get it. No one wants that kind of stress in their life. However, let's talk for a second about how the government creates the tax code and what it is mea...

To be a successful investor, you must have a personal investment philosophy. You need to think about not only the deal but whether or not it fits in with your own goals and your view of the world. In this week's episode of Wealth Formula Podcast, I give you my own framework for investing that has served me well for the last 7-8 years. As a reminder, you can leave questions for me by going to wealt...

I am not your typical physician if you have not figured that out. I am more of a "raging entrepreneur". That doesn't mean I've had only success. In fact, without question, I've failed lots of times but the difference between most people and me is that I keep trying until something sticks. I've used this same approach in brick and mortar multimillion dollar business enterprises, real estate, and…in...

This show is about Tax Free Wealth with Tom Wheelwright. So with all my posts about taxes and my special report, you are probably thinking I'm a little obsessed with this whole tax thing. Well, I am and it's in part because I read this book called Tax Free Wealth from Tom Wheelwright about 3 years ago. If you don't know Tom, you should. He is Robert Kiyosaki's tax guru and one of the Rich Dad advi...

I have talked about Jorge Newbery several times on my show in the past. It has always been in the context of his 12 percent yield mind blowing fund. But little did I know that before that, Jorge was a real estate prodigy making literally millions of dollars from dilapidated, rejected, apartment buildings and resurrecting them back to life. His story also reminds us of the importance of failures in...

No one wants to get old but it's better than the alternative. Imagine getting to that age when you are unable to take care of yourself and you start feeling like a burden on your kids. What do you do? These days, most people in this situation end up at an assisted living facility. When you think of assisted living facility, what kinds of images come to mind? Personally, I think of a sterile Soviet...

Real asset investing is not limited to the rich. In fact, if you look at the crowdfunding movement on the internet, you can now invest in just about anything you want. Crowdfunding laws in recent years were intended to rectify the "unfair advantage" that the more affluent had to investments with greater profit potential. But… don't forget, the opportunities to invest in real assets were there even...

It has been a crazy couple weeks for me. As some of you know, I am aggressively pursuing some deals in a couple of great US multifamily markets and I'm getting really close to getting some under contract. That's good news for me and for my investors! If that sounds interesting to you, make sure you sign up for my investor club on wealthformula.com and I can tell you about what I'm up to…only cavea...

When I finished my training and figured out that I had to invest money somehow, the hardest thing for me was figuring out who to trust. The first apartment building I bought was a 14 unit building in the southern suburbs of Chicago. I would now characterize that as a C- to D+ area. My broker was the guy who sold me my house and I trusted him. The idea of specialization on the broker side never occ...

Everyone defines wealth a little differently. My own definition of wealth is in the form of an equation wealth=time. Time is my currency of choice. It gives me the freedom to do whatever I like with my life. For the last 2 days, I took my three little girls (8,4,2) sledding in in the afternoon while most of my friends were at work. We had a lousy winter in Chicago--cold but not very snowy. We had...

My investor club is for "accredited investors." What is an accredited investor? Well, it's not something you apply for like it sounds. Being an accredited investor is just something you are or you are not...like you are either pregnant or you are not. An accredited investor is a defined by our friends at the SEC as someone who makes a minimum of $200,000 ($300,000 if filing jointly) or has a net w...

The ideal business is not one that is necessarily glamourous. I have a cosmetic surgery business that is uncomfortably glamorous for me--I'm not a really flashy guy. Nevertheless, my plastic surgeons do a great job of making people get over their body hangups. It's not just about changing a person's physical appearance, it is actually more about changing their mental state. That translates into th...

In the 1980s, you could get double digit returns on your savings. Interest rates were that high. That said, inflation was out of control as well so the real value of earnings might not be as attractive as it is at first glance but certainly better than today. Today's economy punishes savers be eroding there wealth through inflation while not providing and significant interest. That's why Robert Ki...

I recorded this interview with Reed Goossens several weeks ago but could not figure out where to put it because it is focussed on investing the USA for foreign investors. I did not want to leave all you Yankees out for a whole week so I decided to broadcast this as a bonus episode. Going back an listening, This is actually not just a show for foreign investors. It's also a very interesting immigra...

I'm going to Belize next weekend. Actually, by the time you get this message, I will already be back. I'm looking forward to seeing some of you there at the field trip. Our Mahogany Bay Village investment opportunity in Ambergris Caye, Belize with its world class luxury affiliation is active and we are fast and furious on the raise. So if you are interested in this opportunity, don't miss out. If...

Wherever you stand on the political spectrum, you must admit that the Trump presidency has already demonstrated that it is going to do things differently over the next 4 years. Curiously, history shows us that presidents have very little to do with the state of the economy. Mostly, they are just in the right place at the right time or vice versa. Let's take Bill Clinton for example. Clinton's term...

Today's show is another opportunity that is open to non-accredited investors. David Sewell was previously on my show to talk about his turn-key business in Panama where you can literally buy coffee farms for long term cash flow. That show was a great hit and many of you actually bought some land I hear. David is a very smart guy with a great heart and he actually has a new opportunity about which...

Can Trump turn it around? Is he the new Reagan? Who knows. What I can tell you is that he faces substantially more challenges than Reagan did. He did not enter office in the middle of a giant asset bubble as we have now. He had a sluggish economy and high inflation but at least he had monetary policy to work with to get things under control with Paul Volker.

Robert Helms and Russell Gray are known best as "The Real Estate Guys." This radio show and podcast is the number one real estate show in the world. Many of you already know them and listen to them. What most of you probably don't know, however, is that Robert and Russ are also very good at real estate development. In fact, they are currently developing the first Hilton in Belize which will be the...