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