In this episode of the Deep Wealth Podcast, Jeffrey Feldberg speaks with Stephanie Walter, a fintech expert, and CEO of Erbe Wealth. Stephanie is a legacy cash flow specialist, capital raiser, syndicator, real estate investor, and has a wealth of experience in business and wealth management.
Stephanie shares her knowledge, experience, and strategies about the wealth mindset, the power of real estate syndication, and the imperative of diversification in wealth creation.
Redefining the ‘Wealth Mindset’
Stephanie noted that much of wealth creation hinges on a person’s mindset towards their financial ability. There is a profound distinction between the “abundance” and “scarcity” mindsets, and this difference often delineates the wealthy from the rest.
The scarcity mentality, which is unfortunately more common, holds the belief that one’s gain comes at someone else’s expense. In contrast, the wealthy usually operate from an abundance mindset, firmly believing that ‘there’s enough for everyone’.
There was also a mention of the “accumulation” mindset that many people have – the notion that accumulating wealth or assets is key to financial success. This idea involves the long-established practice of putting money in 401ks and IRAs, with the hope of gathering a significant nest egg for retirement.
However, the wealthy person looks at money with a “utilization” mindset. They believe their money should be used and controlled, thoroughly understanding the investment strategies and the ensuing financial implications, such as taxation, even before getting into the investment.
The Power of Real Estate Syndication
The conversation delved into the world of real estate syndication, allowing us to see the great potential of this investment vehicle.
Syndication involves a professional group of people coming together to buy, for instance, an apartment complex, thereby allowing individuals to own part of an asset that they might not have been able to afford alone.
Stephanie’s experience in real estate syndication has yielded returns between 20% to 40%, significantly outperforming other forms of investments like mutual funds. She emphasized that investing in real estate syndication brings about substantial tax benefits as investors gain from depreciation which is a non-cash expense deduction.
The Need for Diversification
Any conversation about wealth creation will be incomplete without talking about diversification – spreading your investment across various assets to mitigate risk. Stephanie cautioned against investing heavily in the business alone. By investing a small amount consistently in other promising sectors, you can grow a decent portfolio over time. Even a small initial investment can be the basis for a rewarding journey in creating wealth.
To close the conversation, Stephanie advised that entrepreneurs should take the leap sooner rather than later – whether to start their business or begin their real estate investment. She urged listeners to unlearn the traditional concepts of money they were taught and embrace new paradigms of wealth that could be passed onto the next generation.
Be it in re-evaluating your mindset, understanding the power of real estate syndication, or appreciating the importance of diversification, the path to deep wealth can be navigated with the right knowledge and guidance. As Stephanie Walter has shown, the journey to wealth can indeed be an empowering and enlightening experience.
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