Achieving a lifestyle of freedom in your 40s might seem impossible, but Tony Lopes made it a reality and is guiding others to do the same. In this episode of Zen and the Art of Real Estate Investing, Jonathan chats with Tony, the CEO of Dirty Boots Capital, author of “Freedom at Risk,” and a real estate investor and consultant. Tony’s journey was inspired by his father, who balanced a full-time construction job with real estate investments, and his mother’s reminder to take off his dirty boots, which inspired the name of his company. Tony holds a mechanical engineering degree and an MBA, bringing a blend of technical expertise and business acumen to his real estate pursuits.
Jonathan and Tony start their conversation by delving into how a layoff steered Tony toward real estate investing. Tony underscores the abundance of free information available for new investors, his own learning journey through trial and error, and the common pitfalls where investors often get stuck. He discusses overcoming psychological barriers, strategically positioning yourself, and using current market conditions as an educational tool before diving in. Tony also outlines the value of networking and building relationships, knowing your unique skill set, and his growth from a fourplex to his current success. Finally, Tony explains why he wrote “Freedom at Risk,” his focus on investing in landlord-friendly states, assessing property distress, and learning from investing despite higher interest rates.
Some of the points Jonathan and Tony explore more in-depth include:
- When you start investing, don’t be afraid to make mistakes. Take advantage of all the free resources available, including podcasts like Zen and the Art of Real Estate Investing.
- Macroeconomics matters more than politics when you’re an investor. Don’t focus on politics. Instead, consider factors like demographics and migration patterns.
- Don’t get stuck in spreadsheet analysis. One of the best ways to learn is to do and make mistakes while you do it.
Tony Lopes believes that experience is the best teacher, and he outlines how to acquire it without going broke.
If you want to learn more about Zen and the Art of Real Estate Investing Podcast, check out https://zenandtheartofrealestateinvesting.com/podcast/158/.