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Episode #7 – Amazing interview with L.D. Stauffer, The Humble Millionaire

In this episode of the High Return Real Estate Show, Jeff Schechter interviews L.D. Stauffer, The Humble Millionaire.

Questions Asked:

  • D. Stauffer’s background and history.
  • How does someone pull themselves out of a poverty situation?
  • How did you end up in real estate?
  • What were you reading that lead you to real estate and Indianapolis?
  • What are you doing to replicate yourself?
  • What are some things that have influenced you?
  • What advice would you give people to maximize their time and build a portfolio?

Key Lessons Learned:

Education and Mindset

  • The amount of money you have is very rarely tied to your education and more about tied to your mindset about money.
  • Mindset shifts are the most important aspect of changing your life around.
  • With no education, you are almost forced to become an entrepreneur.
  • The harder you work the luckier you become.
  • You are the average of the five people you spend the most time with.
  • The books you read and the podcasts you listen to count as influencers.

Real Estate

  • “If you want to be successful, if you want to be rich, you have to be in real estate.”
  • You don’t have to be a genius to get rich in real estate. Real estate has stability.
  • Indianapolis has a number of factors that make it one of the best places in the country to invest in.
  • The biggest obstacle in real estate is making your first deal.
  • Learn the process so you can then teach someone to do it for you.
  • Owning property is one of the few investments that can create a critical mass.
  • The easiest way to get started is to find a turnkey provider.

Wealth

  • One of the biggest keys to building wealth is being able to delay gratification.
  • People become slaves to their job if they work just to sustain their lifestyle.
  • Money is replenishable, your time is not.
  • Shiny toys may not make you happy. Experiences are what truly makes you happy.
  • Having “nice things” can actually be a burden.

 

Resources Mentioned

Think and Grow Rich

How to Win Friends and Influence People

The Tim Ferriss Show

 

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