Life Lessons on Prosperity with The Wealthy Gardener author John Soforic
Guest: Dr. John Soforic was a once chiropractor with 200k in student debt. He retired at 49 with a retirement income of $240,000. He then wrote a book for his son in college: The Wealthy Gardener: Lessons on Prosperity between Father and Son. The book became an Amazon bestseller, hit #46 worldwide on audible, and has been translated into 6 languages.
Big Idea: Generational Wealth is not just money, equity, or numbers on the balance sheet. One very critical component of wealth his the knowledge on how to steward that wealth, a critical piece missing from so many estate plans. John viewed this challenge in his own life as he sought to inspire his 19 year old son to absorb and learn the wisdom he’d discovered over the decade of building his own wealth. And so The Wealthy Gardener was born.
I listened on audible myself and then found myself immediately recommending the book to a few friends of mine who are early in their real estate investing career. I’d describe this book as the “Rich Dad, Poor Dad” for the new generation, but with a greater focus on real estate and the mindsets needed to create a wealthy life. John and I discuss real estate, my juvenile delinquent past, our shared experience of having a child attend Temple University, and of course his book, The Wealthy Gardener. Please enjoy this conversation with John Soforic.
Episode 231: Insights from Crowdfunding Expert Adam Gower
Guest: Adam Gower, a seasoned real estate crowdfunding and syndication expert hailing from Central Coast California, has embarked on an extraordinary journey in real estate finance. His diverse experiences, from dwelling in Beverly Hills to navigating the California Coast’s tumultuous waters, have uniquely sculpted his perspective on real estate investing. Within his captivating background lies an intriguing PhD thesis, delving into the historical intricacies of banks underwriting financing during the 1904-1905 Russo-Japanese war. Adam’s profound knowledge of financial history and its practical application to real estate investment is genuinely enlightening
Big Idea: In this episode, Adam Gower, a real estate crowdfunding and syndication expert, discusses the evolving landscape of real estate financing, emphasizing the importance of risk management, adapting to changing market dynamics, and leveraging syndication and crowdfunding opportunities for real estate investors.
This Episode of The REI Diamonds Show is Sponsored by the Deal Machine. This Software Enables Real Estate Investors to Develop a Reliable & Low Cost Source of Off Market Deals. For a Limited Time, You Get Free Access at http://REIDealMachine.com/
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Resources mentioned in this episode:
View the Episode Description & Transcript Here:
Adam Gower & I Discuss Crowdfunding:
• Market Migration Trends: Exploring the migration of people from California to Florida and its potential impact on the real estate market.
• Risk Management: Drawing lessons from historical financial practices to highlight the crucial role of risk management in modern real estate investing.
• Changing Real Estate Dynamics: Understanding the impact of fluctuating interest rates, insurance costs, taxes, and other factors on real estate investments.
• Principal-Agent Conflict: Emphasizing the importance of active management and hands-on involvement in real estate deals to maximize returns.
• Syndication and Crowdfunding: Exploring the legal aspects and online visibility needed to attract investors through crowdfunding and syndication, along with strategies for scaling real estate businesses.
Relevant Episodes: (There are 231 Content Packed Interviews in Total)
• How to Make $300K/Year Investing in Mobile Homes with No Money Down
• Kevin Bupp on Mobile Home Park Investing
• 10 Years Ago Today-The Birth of D.E.I.
• Jefferson Lilly on Mobile Home Park Investing
Dan Breslin: Welcome to the R.E.I Diamond Show. I’m your host, Dan Breslin. And this is Episode 200 with Life Lessons on Prosperity with The Wealthy Gardener author John Soforic.
If you are into building wealth through real estate investing, you are in the right place. My goal is to identify high-caliber real estate investors and other industry service providers. I’d invite them on the show and then draw out the jewels of wisdom, those tactics and mindsets, and methods used to create millions of dollars or more in the business of real estate.
Dr. John Soforic was once a chiropractor with more than $200,000 in student debt. He retired at age 49, with a retirement income of $240,000 per year. He then wrote a book for his son in college, The Wealthy Gardener: Lessons on Prosperity Between Father and Son. The book went on to become an Amazon bestseller. Hit number 46 worldwide on Audible and has been translated into six languages.
Generational wealth is not just money. It’s not just equity or numbers on a balance sheet. One very critical component of wealth is the knowledge on how to steward that wealth, a critical piece missing from so many estate plans. John viewed this challenge in his own life as he sought to inspire his 19-year-old son to absorb and learn the wisdom he discovered over the decade or more building his own wealth. And so, The Wealthy Gardener was born.
I listened on Audible myself and then found myself immediately recommending the book to a few friends of mine who are early in their real estate investing career. I describe this book as the Rich Dad Poor Dad for the new generation, but with a greater focus on real estate and the mindsets needed to actually create that wealthy life.
John and I discussed real estate, my juvenile delinquent past, our shared experience of having a child attend Temple University and, of course, his book, The Wealthy Gardener. Please enjoy this conversation with John Soforic.
Episode Sponsored by the Deal Machine:
Driving for Dollars Software to Build a Team of Drivers, Manage Routes, & Even Automate Marketing. Free Access at http://REIDealMachine.com/
Resources mentioned in this episode:
John & I Discuss Life Lessons on Prosperity:
How to Pass on Generational Wealth
Overcoming Challenges in Life
Building a $20K Per Month Portfolio
The Wealthy Gardener
Relevant Episodes: (There are 200 Content Packed Interviews in Total)
- Getting High Return on Investment through Co-Living Rentals with Johnny Wolff
- Leverage to Larger Deals Using Family Office Wealth with Richard Wilson
- John Matheson on How to Access Commercial Credit
- How to Find Motivated Sellers with David Lecko