How To Create REAL Wealth And Live Life On Your Own Terms With Rich Fettke

Today's Guest: Rich Fettke Rich is a co-founder of RealWealth, a company that has helped over 60,000 members improve their financial intelligence and acquire cash-flowing income properties so they can live life on their own terms. He is a former vice president of the International Coach Federation (ICF) and a former owner of a large health club franchise with over 35 years of experience in business start-ups, management, and training. As a licensed real estate broker and an active investor, Rich was selected as a Rich Dad Author for his expertise as a Wealth Mindset Expert. He is passionate about helping people build real wealth and has authored the book, The Wise Investor: A Modern Parable About Creating Financial Freedom and Living Your Best Life. As an adventure athlete, Rich lives in Malibu, California, with his wife Kathy, where they invest, work, and play together.    Highlights From The Show: We begin the episode with Rich sharing his background story and how he ended up in real estate. Rich shares that 20 years ago, he was a business coach and was in a thriving practice and was on top of the world until he was diagnosed with melanoma and had about 6 months to live. He went through more tests to eventually find out it was a misdiagnosis, and after surgery and treatment, he was declared cancer free. Rich shares that his experience led to real estate with his wife, who was a stay-at-home mom. They connected with a mortgage broker who was also a successful investor who helped them set on the path of real estate investing. To get started, they cashed out a property they had in Dallas, Texas, which had appreciated, and bought five investment properties with good cash flow. That was the beginning of their journey to financial freedom, and they have created a group, Real Wealth, which has grown to over 64,000 members.    We then talk about Rich’s book, The Wise Investor, and the purpose behind it. He shares that his first book was Extreme Success and this second book came 20 years later. That was because he was running their company, Real Wealth, helping people invest in real estate while growing the company. He shares that the reason he wrote The Wise Investor was that he wanted to share investment lessons in a story or parable form to be more impactful. His coach planted the seed and was obsessed with the whole idea from the beginning. Rich started reading and listening to books and parables to create a story with which people would be engaged to emotionalize the information to create change. The book is more powerful than just a non-fiction factual book, and it conveys the lessons in a way that they sink in and lead to change in the rhythm.    Next, we talk about real wealth and what it means. Rich shares that real wealth is having both the money and freedom to live life on your own terms. According to him, real wealth goes beyond money. They don’t focus on just creating money but also on helping people use the money to live a fulfilling life, have the freedom of time, and be able to do what they want when they want to, and with the people they want to be with. Real wealth is a combination of money and time. It’s all about having enough monthly cash flow, especially on passive income, that supports your lifestyle so you can have the freedom to live and get the most out of every day. He also shares that their company and network are built on a culture that focuses on living life now, living on your own terms, and having the finances to do that. They use real estate as a wealth-building instrument and clients' definition of what their best life looks like to lead them to real wealth-building and financial freedom.     We then talk about Rich’s investment strategy in reals estate. He shares that they started with single-family investing and went up to four-unit properties. They have also been doing short-term rentals lately to increase their cash flow. According to him, it’s hard to get cash flow nowadays with a regular single family with the interest rates and the prices in the market. In addition to that, they started syndicating in 2010 for residential development, which allows investors to pool their funds, buy units together and invest in residential subdivisions, and everyone profits from that. He shares that their members also acquire multifamily properties from their property teams.        Lastly, we talk about the mentor in Rich’s book who compares wealthy people and poor people. Rich shares that this is big to him. Living in Malibu, California, he sees many rich people, but not all of them are wealthy. Wealthy people focus on a few things, and time is the most important asset that they focus on. They also value education over entertainment and put more effort into learning, becoming better, and growing. Entertainment is fine, but don’t let it get in the way of your education and growth. The mentor defines an asset as something that provides income, better health, more happiness, or more time, and liability is the opposite. It takes away from your income, health, happiness, and time. Rich also shares a lesson on how poor people operate on envy while truly wealthy people operate on inspiration from seeing others' success. According to Rich, when you turn your mindset from envy to inspiration, you start to birth what you want in life.    Make sure you don’t miss another amazing episode of the Just Start Real Estate Podcast with Rich Fettke and get valuable information on how to create REAL wealth and live life on your own terms! Notable Quotes:   “Real wealth goes beyond money. It is having both the money and freedom to live life on your own terms.” Rich Fettke   “Real estate is a wealth-building instrument, and it can help you create real wealth and get to financial freedom.” Rich Fettke    “A true asset is something that provides income, better health, more happiness or more time while a liability is the opposite.”  Rich Fettke   “When you turn your mindset from envy to inspiration, you start to birth what you want in life.”  Rich Fettke Thank You for Listening! Connect with Mike on Twitter, Instagram, YouTube, Linkedin, Facebook   Help Out the Show: Leave an honest review on iTunes. Your ratings and reviews really help, and I read each one. Subscribe on iTunes.   Resources and Links From Today's Show: The Wise Investor Book  Real Wealth Website  Rich’s Website Rich on LinkedIn Rich on Instagram  Rich on Facebook    More Resources From Mike: Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months WINNING DIRECT MAIL - How to CRUSH IT with direct mail! 7 Figure Investor Video Course - Scale your business to 7 figures. I'll show you how!