If you are still thinking about whether to jump into real estate investing or not, then this show will help you understand why you should make that shift right now! Today, our guest is Chris Odegard of theprolificinvestor.net, and he talks about conventional versus alternative investments.
Watch the episode here:
Listen to the podcast here:
Chris shares his investments were 100% conventional back then, and now it is 95% alternative. He talks about how you can use your 401K by using the in-service transfer to invest in alternative investments like real estate and notes. He also elaborates on the pros and cons of conventional and alternative investments. Tune in and start thinking out of that box!
Key Points From This Episode:
- Chris shares how he got into the real estate business.
- Chris says he’s now a prolific investor.
- Conventional investments are the ones that are publicly traded – stocks, bonds, and mutual funds; everything else is alternatives.
- How can you move from being a conventional investor to an alternative one?
- Chris elaborates how you can use your 401k in investing in alternative options like real estate or notes.
- What is an in-service transfer?
- What are the pros and cons of alternative investment?
- How to get conventional investors to invest in your syndications?
- Chris talks about the hierarchy of investors.
- Everybody is an investor and everybody is investing for their future.
- Chris’s predictions in the real estate market.
- The daily habits that helped Chris to achieve success.
- The number one thing that contributed to Chris’ success — having a child-like mindset.
- How does Chris like to give back?
“So, everything that’s publicly traded – stocks, bonds, and mutual funds, those are conventional investments. Everything else is alternatives.” [0:05:08]
“If we can show people how superior alternatives are, maybe they can make a purposeful move in that direction and see what they’re missing out on.” [0:07:54]
“If you’re only making 5% before inflation and taxes, you’re probably not even maintaining buying power in your conventional portfolio. And in the alternative world, 15 to 30% returns are just commonplace for us and some people’s minds just explode when you talk about numbers like that.” [0:12:35]
Links Mentioned in Today’s Episode:
About Chris Odegard
The Prolific Investor is Chris Odegard. Chris is an average guy who had a white-collar job in the corporate world and followed the only thing he knew for decades, conventional wisdom and conventional investments. This worked relatively well until 2009 when he experienced an illiquidity event where he lost 55% of his assets and thousands of dollars per month in cash flow. Then, Chris read Robert Kiyosaki’s Rich Dad Poor Dad, and his mind was opened to a different type of investing, investing in real assets and private deals mostly insulated from the volatility, risk, and taxation of the stock market. In just nine years, Chris recouped the 55% he had lost and multiplied it many times over and now shares his experience and knowledge with you through this alternative investment blog.
Love the show? Subscribe, rate, review, and share!
Join the Real Estate Syndication Show Community: