Understanding your position on The Wealth Elevator can be instrumental in determining the steps needed to advance on your wealth-building journey. In this episode of Zen and the Art of Real Estate Investing, Jonathan interviews Lane Kawaoka, the author of “The Wealth Elevator” and CEO of The Wealth Elevator. Lane’s expertise lies in real estate syndications, accredited investor banking, and tax strategies tailored for first-generation millionaires. He aims to guide these individuals from their initial investment stages to achieving financial freedom.
As Jonathan and Lane begin their conversation, Lane recounts his early start in real estate investing during his 20s and his subsequent property purchases after renting out his first home. They discuss the advantages and challenges of Lane’s out-of-state rentals, his transition into syndications, and his motivation for writing “The Wealth Elevator.” They also examine what Lane terms “the forgotten years,” the common theme of valuing time over money, and the levels of The Wealth Elevator. Lane outlines three aspects to consider in real estate syndications, potential pitfalls in syndication investments, and his rationale for diversifying his portfolio beyond real estate. The discussion extends to Lane’s coaching approach, setting realistic expectations for syndications, relying on experts, how a portfolio evolves with increasing wealth, and why investing alongside average investors may not be ideal.
Jonathan and Lane cover more in-depth:
- The Wealth Elevator has several floors, and Lane explains how to figure out which one you’re on.
- There are three main factors to consider when considering investing in a syndication.
- At $1-3 million of net worth, it’s time to start transitioning your focus toward long-term wealth-building.
Lane Kawaoka offers an innovative way to envision where you are on the wealth path with The Wealth Elevator.
If you want to learn more about Zen and the Art of Real Estate Investing Podcast, check out https://zenandtheartofrealestateinvesting.com/podcast/157.