cover art for The Wealth Elevator: Basement Floor #02

The Wealth Elevator

The Wealth Elevator: Basement Floor #02

Season 1, Ep. 2

In this episode of The Wealth Elevator podcast, Lane explores the foundational "basement level" of The Wealth Elevator, emphasizing the challenges of information overload for higher net worth individuals. The discussion covers personal experiences, the traditional linear path of financial success, and the importance of discernment and financial tools. Lane addresses distinguishing between good and bad debt, the significance of budgeting, and the value of building a financial foundation. He encourages listeners in the basement to appreciate the process, emphasizing the eventual financial growth. The episode concludes with a preview of upcoming discussions on the wealth elevator's other floors.

More episodes

View all episodes

  • 423. 2024 Q1 Quarterly Market Update: -30% in values, cap rates vs interest rates, tenant fraud

    In this podcast, we discuss the current economic climate, providing insights into investment strategies while leveraging a decade of experience in real estate investing. We touch base on the market downturn of 2021 to 2023, the possibility of a market bottom, and how these market cycles affect our future predictions. We underscore the value of diversification and the importance of developing a well-rounded investment strategy to weather market uncertainties. We also dive into how something external, like interest rates, can significantly impact the market and what investors can do to navigate these changes effectively. The discussion further includes an overview of challenges faced in commercial real estate caused by things like fraudulent tenant applications and inflation. Join us as we dissect and interpret these market trends, giving an in-depth review of how this shapes various asset classes and current investment theses.00:01 Introduction and Market Update Overview00:16 My Investment Journey and Market Observations01:14 The Importance of Diversification in Investments01:45 The Impact of Market Cycles on Investments02:15 The Evolution of My Investment Strategy02:33 The Importance of Trust in Investment Partnerships03:05 The Journey to Better Investment Opportunities03:32 The Importance of Adapting to Market Changes04:16 The Current State of the Economy and Market04:37 The Impact of Inflation on Investments05:48 The Importance of Understanding Market Cycles06:25 The Impact of Interest Rates on Real Estate Investments12:09 The Challenges of Fraudulent Tenants in Real Estate16:09 The Future of Commercial Real Estate37:37 The Importance of Taking Action in Investments45:00 Conclusion and Final Thoughts
  • 422. Ask Lane: Blackstone, China, diversification, saving taxes, market shifts, solo401k

    Join me as we explore some interesting topics during this month's office hours Q&A session. We discuss the state of real estate, taking into account a report from Blackstone, where it revealed $200 billion of undeployed capital waiting for investment opportunities, marking a potential recovery in the real estate market. We also address the method of zigging when everyone else zags, the approach taken by contrarian or sophisticated investors. Other points explored include China's property slump, long-term population growth trends, and the value of investing in basic necessities. We also discuss investment strategies that revolve around real estate recovery, capital markets, tenant risks, commercial assets, and more. Lastly, we delve into a Q&A session discussing complexities of tax planning, retirement accounts, and overseas workers in CPA firms. Watch to understand more on income fund introduction and its benefit.00:02 Introduction and Overview00:07 Current State of Real Estate Market01:30 Comparing Real Estate Trends in Different Countries02:42 Transitioning from Small Deals to Institutional Investments03:52 Upcoming Market Update and Office Hours Announcement04:23 Introduction to the Income Fund04:31 Challenges in the Current Real Estate Market06:50 Shift in Investment Strategy08:07 The Impact of Institutionalization on Rental Property Ownership09:52 Introduction to the Steady Eddy Income Fund11:06 Diversification in Investment Strategies12:57 Approaching Taxes in Investment Strategies21:55 Exploring Other Investment Opportunities23:56 Understanding Self-Directed IRAs and Solo 401ks25:43 The Challenges of Self-Directed IRAs25:58 The Benefits of 401k Investments26:16 Understanding Solo 401k Providers26:39 The Importance of Business in Solo 401ks27:04 Investment Strategies for Different Net Worths28:00 The Concept of Legacy Money28:50 The Dilemma of Retirement Plans29:28 The Reality of Saving and Investing30:36 Strategies for High Net Worth Individuals31:05 The Importance of Concentrated Returns31:55 The Chessboard Analogy for Investment33:24 The Evolution of Personal Investment Strategies39:55 The Role of Connections in Wealth Building44:10 The Impact of AI on the CPA World46:58 The Advantages of Investing Through a Fund50:19 Current Market Cycle and Investment Opportunities
  • 421. Understanding Student Loan Debt and Home Loan Approval w/Jan Miller #421

    Check out our past deals, future ones, and join our community: this podcast, the host discusses potential changes to investment laws and how they might impact commercial real estate investors and others. The host interviews a student loan expert who describes the challenges of seeking a home loan when you have significant student loan debt. They also discuss loan forgiveness programs, refinancing options, and the pros and cons of private versus federal loans. The expert also covers income-driven repayment plans and the benefits of staying in federal loans. The host highlights the importance of using third-party consultants for financial advice.00:02 Introduction to the Podcast00:10 Upcoming Changes for Credit Investors00:20 Understanding the Tax Relief for American Families and Workers Act00:43 Implications for Commercial Real Estate Investors00:50 The Impact of the Tax Cut and Jobs Act01:21 How to Leverage Tax Benefits01:39 The Importance of Cost Segregation and Recapture01:48 Predictions for the Future of Tax Legislation02:09 The Role of Cost Segregation Studies in Real Estate Investing02:24 Understanding Real Estate Professional Status02:38 The Potential Impact of New Legislation03:00 How to Navigate the Political Landscape as an Investor03:25 The Importance of Strategic Investment Planning04:19 Changes to the Accredited Investor Definition04:53 The Challenges of Investing in Single Family Homes05:11 The Importance of Building Net Worth05:56 The Struggles of the Middle Class06:56 The Impact of Student Loans on Financial Stability07:23 The Importance of Alternative Investments07:57 Interview with Jan Miller, Student Loan Consultant08:38 Understanding Student Loan Forgiveness14:45 The Challenges of Getting a Home Loan with Student Loan Debt22:35 The Risks of Refinancing Student Loans26:12 The Importance of Personalized Student Loan Advice35:14 Conclusion and Final Thoughts
  • 420. Passive Investing in Syndication: Vetting People and Operators #420

    In this podcast episode, we discuss how to vet people who are doing syndication deals for passive investors. We provide resources to predict where interest rates are heading, with a focus on that provides chart-based predictions. This episode also examines the concept of risk, especially among novice investors transitioning from traditional rental properties to syndications and private placements. The host shares his personal life experiences that relate to risk, reward, and the search for 'alpha'. The segment wraps up by emphasizing the importance of diversification in investment and mentions potential strategies for higher net worth investors.00:01 Introduction and Announcements00:10 Predicting Interest Rates: Tools and Resources00:59 Understanding Risks in Syndications and Private Placements01:35 The Concept of Risk and Diversification02:22 Personal Reflections: Life, Relationships, and Investments03:45 The Importance of Experiences and Shared Moments05:28 Investment Strategies: Risk-Reward Profile and Diversification05:52 The Future of Investing: Diversified Funds and Single Asset LLC Deals06:42 Conclusion and Show Wrap-up
  • 419. Tax Planning Q&A with CPAs - C-Corp vs S-Corp, deducting HELOC, and REPS #419

    Get the latest insights on 2023 financial reports for consumer and business finances. This script covers discussions on the impact of tighter monetary policies, the recession phase of the wholesale trade in the U.S., and predictions for an economic rebound in 2025. Discover why certain markets will flourish despite financial hardships, the effect of raising interest rates on the commercial real estate sector, and the impending shift of iconic Disney characters entering the public domain. The session also touches on the importance of diversifying into different sectors to secure long-term wealth, tax planning strategies, filing statuses like Real Estate Professional status, and nuances of active vs passive income. Questions from attendees shed light on aspects of setting up LLCs, real estate investments, tax deductions and more. Tune in for a comprehensive analysis of current economic trends and valuable advice from the experts at Unified Global.00:00 Introduction00:00 Economic Outlook for 2023 and Beyond00:07 Impact of Monetary Policies on the Economy00:42 Predictions for the Real Estate Sector01:34 Disney Characters Entering Public Domain02:06 Intellectual Property and Real Estate Investments02:44 Investing in Businesses and Real Estate03:18 Podcast Introduction and Webinar Announcement03:36 Tax Questions and Answers Session04:14 Introduction of Tax Advisors04:24 Unified Global Group Overview06:40 Discussion on Active vs Passive Income10:46 Understanding Real Estate Professional Status20:31 Tax Implications of Paying Children through LLC23:39 Managing Self-Directed Solo 401k25:06 Tax Deductions for Long Term Rentals25:53 Discussion on K1s and Tax Packages29:56 Transitioning from Primary Residence to Rental30:15 Understanding Property Taxation30:36 Exploring Tax Implications of Property Rental31:16 Debunking Misconceptions about Property Tax31:49 The Role of CPAs in Property Taxation32:01 The Impact of Property Rental Duration on Tax32:55 Strategies for Maximizing Property Rental Income34:02 Exploring Tax Deductions for Seminars and Retreats34:27 Understanding the Role of LLCs in Tax Deductions35:10 The Benefits of Consulting LLCs35:33 The Importance of Record Keeping in Tax Deductions36:07 Understanding the Hobby Loss Rule43:29 The Pros and Cons of Rent-to-Own Sales44:33 Understanding the Role of LLCs in Property Sales46:58 The Importance of Accurate Record Keeping in Property Sales01:00:18 Understanding the Short-Term Rental Loophole01:02:23 Closing Remarks and Contact Information
  • 418. Office Hours: Jan 2024 - Picking CPA, Accredited Investor Tips, Q&A #418

    In this week's episode, we discuss the current financial climate, future investment strategies, and share tips on diversifying your investment portfolio. We delve into the Federal Reserve's actions, possible interest rate cuts, and the impact on property investment. An interesting comparison between commercial and residential real estate markets is also discussed. Strategies for 2024 are highlighted, with a preference for more secure, conservative deals. We also tackle the crucial subject of taxes for investors; from suitable CPAs to tax strategies using LLC documents and much more. Furthermore, the importance of pursuing investments based on values rather than mere outcome-driven gains is emphasized, ensuring the the goal is significant, stable growth over time.00:00 Introduction and Federal Reserve Update00:19 Impact of Interest Rates on Property Investments01:30 Market Predictions and Investment Strategies02:18 Tax Tips for Investors03:41 Investment Opportunities and Market Trends04:37 Office Hours: Q&A Session07:49 Investment Strategies for 202412:19 The Importance of Diversification in Investments14:54 The Role of CPAs in Personal and Business Taxation17:58 Investment Decisions for Accredited Investors24:57 Conclusion and Future Plans
  • 417. Coaching Call 1.5M Net Worth - Sell my California Home? Maximizing Equity

    Join the Hui Deal Pipeline Club and secure a personal one-on-one call with Lane! valuable investment strategies with financial expert Lane Kawaoka where he talks about seven different ways to increase income through investments. Focusing on the importance of leveraging equity, Kawaoka guides you towards financial independence with strategic advice to diversify investments, use debt wisely, and safely leverage to a larger net worth. This coaching call clarifies the idea of utilizing self-directed IRA's, loans, business funds, and more. Walks through a thoughtfully crafted flowchart to assist in understanding where to get your money first. The conversation covers tax strategies, various investment opportunities, and future financial considerations. Anyone looking to navigate the road to financial independence should listen in to gain valuable insights and guidance.00:00 Introduction to Investment Concepts00:24 Understanding Equity and Financial Independence01:18 The Flow Chart of Investment01:21 Understanding Annual Savings and Emergency Savings02:38 Tapping into Home Equity and Retirement Accounts03:43 Understanding Tax Implications of Investments05:45 Coaching Call with Eric Begins06:04 Eric's Investment Journey and Current Situation07:01 Eric's Personal and Financial Background15:53 Planning for Home Equity and Renovation Costs21:22 Understanding Potential Returns from Alternative Investments23:54 Discussing Financial Ecosystem and Investment Options24:53 Understanding the Importance of Financial Wellbeing25:25 Exploring the Concept of Emergency Savings25:42 The Role of Business Entrepreneurs in Investment26:28 Balancing High and Low Risk Investments26:32 The Difference Between Business Owners and Job Owners27:11 The Impact of Entrepreneurship on Personal and Financial Growth28:15 Understanding Asymmetric Risk in Real Estate28:30 The Role of Real Estate in Financial Stability28:49 The Importance of Investing in Your Own Business29:03 The Potential Risks and Rewards of Business Investments29:25 The Impact of Technology on Business and Investment29:37 The Role of Social Media in Business Growth33:37 Understanding the Importance of Financial Sophistication34:53 The Role of Networking in Investment Success39:31 The Importance of Building a Cohesive Investment Group44:08 The Role of Communication in Investment Planning
  • 416. Real Estate Syndications in 2024 for New Investors: Strategy, Roles, Taxes, Due-diligence #416

    We are diving into a syndication webinar that would be beneficial for novice investors. Subscribers of our club can join the monthly office hours to ask personal financial questions or learn further about open offerings. Besides, we also hold educational sessions about syndication deals and due diligence every third Saturday of the month. We share reports from institutional investment firms such as BlackRock, Barclays, Fidelity, Morgan Stanley in our weekly newsletter. For those attending our meetup in Las Vegas from January 12th to 13th, prepare to get a grand exposure and learning experience. Check your emails for the invitation to our 'Ask the CPA' tax questions session on January 9th. It's a good time to be interviewing CPAs and attorneys to prepare for the tax season. Looking forward to meeting you all in Las Vegas, especially those of you who are first-generation seven-figure net worth individuals!00:00 Introduction and Welcome00:10 Joining the Wealth Elevator Club00:16 Monthly Office Hours and Syndication E-Course00:39 Weekly Newsletter and Institutional Reports00:53 Upcoming Las Vegas Event01:10 2024: A Big Year Ahead01:16 Tax Planning and CPA Interviews01:36 Looking Forward to Las Vegas Meetup01:51 Changing Mindsets and Creating Memories02:36 Podcast Conclusion and Final Call to Action
  • 415. Investing in the Future w/ Dr. Roger Blackwell: Insights on Real Estate, AI, and the Workforce

    In this engaging conversation, we take a deep dive into diverse topics like real estate trends, the influence of AI on job displacement, and the evolving structure of the workforce. Our guest, Dr. Roger Blackwell, a former marketing professor and acclaimed author, shares valuable insights on macroeconomic trends and their impact on the real estate market. We also touch base on how the economy is expected to behave with the advancements in AI and the importance of personal growth in this fast-paced world. Educational values, the shifting middle-class paradigm, and current demographic trends also make a crucial part of our discussion. Tune in for a broad perspective on how the future of investing is shaping up.00:00 Introduction and Overview00:12 The Taylor Swift Effect on Real Estate00:40 Investing in Real Estate: Long-term Perspective01:44 Economic Predictions for the Upcoming Year02:07 Challenges in Commercial Real Estate02:46 The Impact of Interest Rates on Real Estate03:18 Exploring Other Investment Sectors03:35 The Future of Real Estate Investing04:56 The Importance of Networking in Investing06:10 The Shift to Alternative Investments06:44 Interview with Dr. Roger Blackwell07:35 Understanding the Impact of Macroeconomic Trends08:48 The Role of Inflation in the Economy14:44 The Impact of AI and Technological Advancements on the Workforce16:45 The Importance of Adapting to Technological Changes19:47 Focused Education and Job Opportunities21:46 The Importance of Education and Diligence21:53 Success Stories: From Janitor to Engineer, From Poverty to Neurosurgery22:17 The Prosperity Paradox: Understanding Economic Mobility23:27 The Power of Focused Education and Skill Sets24:23 The Changing Landscape of White Collar and Blue Collar Jobs25:52 The Rise of Automation and the Role of Human Workers32:36 Investing in Essential Services and Solving Societal Problems35:39 The Impact of Population Trends on Workforce and Economy40:08 The Role of Family Stability and Education in Prosperity42:02 The Importance of Facts Over Opinions in Education42:22 Final Thoughts: The Power of Planning and Kindness