House Hacking 101 | Vol. 12 “If you have decent credit, a stable job, and a small amount of savings, you can enter the world of homeownership. And if you’re smart about it, you can enter the world of real estate investing at the same time and start hacking your living expenses.” – Brandon Turner …

Rent vs Own – The Ultimate Showdown | Vol. 11 Don’t wait to buy real estate. Buy real estate and wait. -Unknown Every few years, a debate erupts over the merits of homeownership. Financial gurus and economists publish articles declaring homeownership is for suckers. [Picture me fuming.] I’m sure these articles perform as clickbait, but …

Last week, we hosted over 10,000 KW associates and guests at our mid-year conference, Mega Agent Camp. We packed it in. We hosted panels of top producers on everything from lead generation to wealth building. We did a deep dive on the market and economy. And we revisited SHIFT, highlighting the tactics most relevant for today. 

If you want to truly understand something, teach it. Ironically, learning almost always happens in reverse. First, we teach because of how much we know. Then, when we enter the classroom we find out how much there is to still know. All it takes is a question from a curious student to expose what we don’t know at all, or what we know but don’t really understand. 

Last fall, I read an obituary for Don Justo Gallego Martínez. His remarkable story reminded me of a significant business idea  – The Principle of Attraction. Fundamentally, it’s about flipping the script. Instead of hunting for what you want, leverage a strategy to attract it into your life.

Last year we enjoyed the second-best real estate market in history. And going into 2022, most pundits projected another banner year with 5.9 million sales. In other words, it was supposed to be the fourth-best year ever. Today, mortgage interest rates are up roughly 200 basis points and pending sales are plummeting. The specter of inflation has everyone jumping at shadows. Most prognosticators are now asking whether or not we’ll reach 5 million home sales. Is the sky really falling?

I’ve been playing up my whole life. Growing up in Memphis where my dad had made a name for himself in business, I was “Larry’s son.” I trailed my outgoing sister in high school and teachers often said, “Oh, you’re Jan’s little brother.” My friends growing up were all sports, honor roll, and student government leaders.

In early winter, Gary Keller often shares his calendar for the following year. This is how we sync our writing days. A writing day for us means blocking 10 am to 4 pm. A big block of time to do deep work. So it makes sense to coordinate long before mundane meetings can encroach on our time. Busy people tend to have busy schedules. So we get ahead of it. 

This week I caught up with Tom Wheelwright on his brand new book The Win-Win Wealth Strategy: 7 Investments the Government Will Pay You to Make. The question on my mind was how can equity-rich homeowners avoid capital gains when selling? 

Make no mistake. A recession is coming. It’s just a matter of when. And, now is the time to learn from past mistakes so we can avoid them.