Lucas Thomas He Financial Planner – Build out a Financial Plan to create wealth and create the tomorrow you want
Investment Master – Build a Portfolio of the 3 Pillars of Wealth, Real Estate, Paper Assets, and Businesses
o, Stay on the Cutting Edge of Investing with me as I stay up-to-date on everything investment including: Crypto Currency (Bitcoin, Dogecoin, Ethereum, etc.), NFT (Non-Fungible Tokens), Stock Market Trends, Major Economic Trends (Politics, Business, International, Wall Street, Science, Technology, and more…!
- Realtor – Buy, Sell, Lien or Lease any form of Real Estate (Have Real Estate Licenses)
o Convert your Real Estate into Cashflow by turning them into Rentals
- Loan Officer – Find Financing for any form of Real Estate (Have Mortgage Licenses)
o Avoid Paying Taxes with a Cash-out Mortgage on your Home, Secondary Home, or Investment Property
- Retirement Guru – Take it from someone who could retire tomorrow if he liked
o Don’t Outlive Your Money, Prep your Portfolio to Maximize Your Elder Years
- Estate Actualizer – Build a Legacy to leave your family so they can prosper for generations
- Tax King – Limit Your Taxes in all the best ways possible
Episode Highlights Here:
Lucas:
My philosophy is you start in real estate and build a base. And then once you once that base gets you more wealthy, you grow more wealth, do some cash out refinances, you know, because if you buy something for 100 grand, then it goes up $300,000, you pull out a quarter million dollars you go buy 10 More of that thing. Lukas, what’s the number one secret to growing Three Pillars of Wealth? And what are the three pillars? Awesome. Three Pillars are paper assets, real estate assets, and businesses. My belief and this is an opinion, obviously, is that real estate is the number one asset. It’s the base for pretty much building into all the other assets. Because real estate allows you because it’s an age-old business, it’s easy to understand, it’s got great tax benefits, you don’t really have it doesn’t take it, you don’t need a rocket science degree to figure it out, buy a house, rent it, buy a house for cheap, sell it for more money than you bought it for. So really simple, like simple. It’s all simple stuff. But it’s just hard sometimes in the execution. And that’s where people get bogged down. So those are the three pillars. But basically, my philosophy is you start in real estate, build a base, and then once you once that base, gets you more wealthy, you grow more wealth, do some cash-out refinances, you know, because if you buy something for 100, grand, then it goes up $300,000, you pull out a quarter million dollars, you go buy 10 More of that thing. Or if you have money sitting around, that’s when you go into paper assets, and your paper assets, that’s gonna be your crypto, I just assume all paper assets, it’s money that sits somewhere, and it appreciates or pays dividends. So that’s gonna be dividends or interest payments. So that’s gonna be your bonds, crypto, bonds, crypto, stock market, and real estate notes. So if you get into seller finances and providing lending for other people, like I used to be in the mobile home industry, and I used to provide, I did a lot of seller financing. Because you can find markets that are on that banks won’t touch, and you can be the hard money lender on a lot of these things, which is a really good way to make money. But the problem with those is you have to have a big pile of money to get into those markets and those investments. So then you’re, and then your last one is going to be businesses, which is a great way to make money. The problem is his businesses have an 80% fail rate. And the problem with that is why would you go immediately into businesses when you can go into real estate where it’s simple, buy a house, resit, buy a house for cheap, sell it for more money than you bought it for, you know, you’re not reinventing any wheels. But with businesses, it’s like, well, I’m going to come up with a new app, I’m going to do this thing, I’m going to create this new, amazing thing. And it’s like, well, what happens if that doesn’t work out? And because of that high risk, it’s the top, it’s one of the top tier pillars, but you need that base to get into those tiers. So that’s why when, in my worldview, paper assets are where you store your money when you’re not using it. Real estate is going to be your main driver driving force. And then, once you get to a certain level of income and wealth, then you’re allowed to get into business.
Brett:
Got it? Well, that’s a ton of wisdom in a short period of time. So there are three pillars, there’s real estate, there are paper assets, and there are businesses, and real estate would be the base, maybe the safest, most tried, and true analysis of tax benefits. So it’s a good place to start. And then paper assets would be a good place to store in between maybe buying real estate deals and or when you’re just trying to save and build wealth to get to a point where you can buy a business or start a business. Is that a fair summary so far?
Lucas:
Yeah, exactly. And the reason I tear it like that is that some people want to jump a tear. And I’m like, I mean unless you got to like the next Google or the next Facebook or the next billion dollar idea. I mean, by all means, pursue it, but like, what, for the vast majority of us, we got to start on the Start at the lower tears. That’s one of the number one financial planning things I always train people on. It’s, it’s I know, I know what you want to do, but it’s like, I equate it to taking, you know, it’s like how do you eat an elephant? One bite at a time, as my old man used to say, you take one bite at a time, but if you take too big of a bite, you’ll choke and die.
Brett:
That’s a good analogy.
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About Lucas Thomas
Lucas Thomas He Financial Planner – Build out a Financial Plan to create wealth and create the tomorrow you want
Investment Master – Build a Portfolio of the 3 Pillars of Wealth, Real Estate, Paper Assets, and Businesses
o, Stay on the Cutting Edge of Investing with me as I stay up-to-date on everything investment including: Crypto Currency (Bitcoin, Dogecoin, Ethereum, etc.), NFT (Non-Fungible Tokens), Stock Market Trends, Major Economic Trends (Politics, Business, International, Wall Street, Science, Technology, and more…!
- Realtor – Buy, Sell, Lien or Lease any form of Real Estate (Have Real Estate Licenses)
o Convert your Real Estate into Cashflow by turning them into Rentals
- Loan Officer – Find Financing for any form of Real Estate (Have Mortgage Licenses)
o Avoid Paying Taxes with a Cash-out Mortgage on your Home, Secondary Home, or Investment Property
- Retirement Guru – Take it from someone who could retire tomorrow if he liked
o Don’t Outlive Your Money, Prep your Portfolio to Maximize Your Elder Years
- Estate Actualizer – Build a Legacy to leave your family so they can prosper for generations
- Tax King – Limit Your Taxes in all the best ways possible
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