Secrets To Success From Finanical Master Greg Herlean
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What sparked Greg Herlean's journey into real estate?
Most people don't know they can use their retirement money to invest in things they know, like, and understand. There's over 100 million IRAs in the United States that have over $17 trillion in them. If you were to show me a new business that you were going to start, I could put my IRA, partner with you, And all the profits and distributions would go back into my IRA and I'd pay nothing in taxes. And I never knew before I heard someone talk about this, this was even an option. A bank wouldn't lend me money. My family had zero money. So for me, that's kind of where it started was understanding where money and capital is at.
How can retirement funds be used for investments?
My name's Rudy Moore, host of Living the Red Life podcast, and I'm here to change the way you see your life in your earpiece every single week. If you're ready to start living the red life, ditch the blue pill, take the red pill, join me in Wonderland, and change your life.
What's up, guys? Welcome back to another episode of Living the Red Life. Joining me today is Greg. He's a real estate master, financial master, and investor, and done a whole bunch of stuff. But we're going to focus on a couple of things today. He's been in the real estate game for a very long time, done over $1.4 billion. Yes, billion with a B in transactions and real estate and investing. And he's fixed and flipped over 450 homes, 2,000 apartment units. And we're going to talk today about the financial secrets that your financial advisor doesn't want you to know. So yes, I have your attention. And Greg, welcome to the show. Thanks for having me. I appreciate it. Good to be here. So Greg, let's just start.
What are the common misconceptions about investing?
Before we dive into these juicy secrets that everyone wants to know, give me a minute summary just on yourself, who you are for those who don't know you. A minute summary. Look, I have started from nothing. My dad was in the military. I was going that path that I think most parents want you to go. And I had a pivotal point in my life where I had to make a decision if I was going to go that direction. I decided not to. I dropped out of school. And and I got into real estate at 22 years old. Not only did I get into real estate, I also started a family and I have five kids. That's a big part of my why. But real estate has been a vehicle for me and I've been able to create massive wealth that way. to afford the five kids and the memories. But really, I mean, I started with nothing. My dad was in the military and got into real estate.
How do successful entrepreneurs leverage capital?
But I think what we're going to talk about today is really what catapulted me to the next level, learning how to avoid taxes and do things that I didn't really know was possible, nor did my parents know was possible 23 years ago. Yeah, it's funny, you know, just to dive straight in on the tax thing. Like, I think every entrepreneur that becomes successful, we'll go through this journey of like, we first learn how to make a lot of money and grow our business. And then we end up paying a lot of taxes. And then if we get pretty advanced, we go, oh, crap, there's got to be a better way.
What are the secrets financial advisors might not share?
And we partner with, you know, big companies. financial experts and people like yourself. And I've got lots of advisors that work with billionaires and you start learning all these legal, but more advanced tax strategies on how you can obviously write off stuff and do it all properly. So I'm excited to dive into some of that today and And also, you know, one thing that I know we're going to talk about that's interesting is how to actually leverage capital to in less typical means. Right. Versus just going to the bank. So super excited to dive in. But let's start with the main secrets. Right. So what are some of the main things most entrepreneurs don't know about about money?
What strategies exist for tax savings in investments?
Well, look, I think entrepreneurs, one of the most difficult and important things is raising money. And so being able to get capital or partners or leverage and where to go. And the typical places people go would be a bank or a friend or a family member, right? And that's usually where it would end.
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Chapters
8 chapters
1
What sparked Greg Herlean's journey into real estate?
0:00–0:30
2
How can retirement funds be used for investments?
0:30–1:29
3
What are the common misconceptions about investing?
1:29–2:26
4
How do successful entrepreneurs leverage capital?
2:26–2:56
5
What are the secrets financial advisors might not share?
2:56–3:39
6
What strategies exist for tax savings in investments?
3:39–4:53
7
How can listeners take control of their financial future?
4:53–6:14
8
What closing thoughts and takeaways does Greg offer?
6:14–24:03
Speakers
2 identifiedMore from Living The Red Life
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