Show notes
Alex Olson is a senior real estate broker. In this episode, he shares his insights on real estate as a wealth-building tool. He explains that when you look at your taxes after you've taken depreciation into account, real estate can be a very effective way to lower your tax burden. Alex also discusses the importance of networking and how it can help you become successful in the real estate business. [00:01 - 03:28] Opening SegmentAlex shares his background in real estate and how he has been helping people find properties.The importance of working with a knowledgeable real estate agent to help buyers find properties[03:29 - 14:08] The Key is Preparedness and Setting Up the Plan BBe prepared for a lot of stress and have a plan for what to do if things don't go as planned.Everybody starts off with what they want, which is often unrealistic and not in line with what the market is providing.Besides cap rates, factors such as cash flow, purchase price, and how much money will be put down should also be considered.[14:09 - 22:59] Optimizing Real Estate as a Wealth-Building ToolLike-minded individuals can successfully invest in real estate together.To find properties that are good investments, it is important to have a clear understanding of the local market and what type of property is being sought.Alex shares the joy of seeing property progress over time and how it can build wealth without the buyer even knowing. [23:00 - 31:16] THE FINAL FOURWhat is the worst job you ever had?Castrating hogsWhat’s a book that you’ve read that’s given you a paradigm shift?Am I Being Too Subtle? by Sam ZellWhat’s a skill or talent that you would like to learn?How to become a movie scriptwriterWhat does success mean to you?Independence from taking risksConnect with AlexLinkedin: www.linkedin.com/in/aolson Website: https://www.biggerpockets.com/users/hardworkinvesto LEAVE A 5-STAR REVIEW by clicking this link. WHERE CAN I LEARN MORE?Be sure to follow me on the below platforms:Subscribe to the podcast on Apple, Spotify, Google, or Stitcher.LinkedInYoutubeExclusive Facebook Groupwww.yonahweiss.comNone of this could be possible without the awesome team at Buzzsprout. They make it easy to get your show listed on every major podcast platform. Tweetable Quotes:“Our main focus, of course, is multifamily. Why? Because that's what everybody wants and everybody knows it does well in the market.” - Alex Olson“It all starts with the idea, and that's it. Once you have the idea, you figure out ways to get to it.” - Yonah WeissSupport the show