Unlocking Wealth Beyond Real Estate: A Conversation with Steve Selengut

 

Episode: In this episode, we’re breaking away from the traditional real estate discussions to explore an intriguing investment avenue – stocks, securities, and closed-end funds. Dan sits down with Steve Selengut, a seasoned investor with a unique perspective that challenges conventional real estate thinking. Steve shares insights into his investment journey, influenced by his father’s real estate background and how it shaped his income-focused approach. Get ready to delve into a conversation that could change the way you view wealth creation.

Guest: Steve, a seasoned investor with over 50 years of experience, evolved his career from pension investment to managing a successful investment business. His journey was inspired by his father, a real estate developer, teaching him the crucial importance of cash flow. Steve’s investment philosophy centers around income focus, profit-taking, and building a diverse portfolio of high-quality assets. With a background in managing over $110 million in capital, he shares his insights on the podcast, offering a unique perspective on stocks, closed-end funds, and navigating the intricacies of the investment landscape.

Big Idea: In this episode Steve discussed his income-focused investment strategy. Drawing parallels between real estate and his closed-end fund approach, Steve emphasizes the importance of consistent cash flow for sustainable growth. By prioritizing income over market value, he introduces a methodology that mitigates risk and offers a practical alternative for investors seeking stable returns.

 

 

    

Dan: Nice. So we’re taking it different direction completely than like 98% of the guests on the show and we’re going to be talking about buying stocks, securities, closed-end funds, the kind of investments that quite frankly a lot of real estate investors who are probably listening are like, “I’m never going to do it or I did it and got burned and I’m getting out of it.” But to anyone having those thoughts right now stay tuned what Steve and I are getting ready to talk about is interesting and that’s coming from like my own background as a fully committed real estate investor and operator. So why don’t you maybe, Steve, give the evolution, brief evolution of your career what you do today, and maybe you even tuck in this little bit of the story about your dad that we were talking about before the show.

Steve: Yeah. I think that’s a that’s really a good place to start. It might, some of your audience might even know like a Patcong in North West Jersey where my father was a real estate developer. He had probably a thousand homes in the development over the years on like Patcong and I never wanted to go there because of all the time, he spent in planning Board meetings and talking to town officials and just he seemed to be working 24 hours a day. And of course what happened to me, I wind up in a different area working pretty much the same amount of time. But a lot there were a lot of parallels when I look back at it and in listening to like I said to some of your podcasts, he owns land, he built homes, he ensured those homes. He gave people the mortgages. He had rentals. He sold and resold again, and he even owned a Lumberyard with his attorney so that they could get a break on the supplies as that they went into building houses.

 

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Resources mentioned in this episode:

https://TheIncomeCoach.net/

 

For Access to Real Estate Deals You Can Buy & Sell for Profit:

https://AccessOffMarketDeals.com/podcast/

 

Steve Selengut & I Discuss Unlocking Wealth Beyond Real Estate:

  • Income-Focused Investing: Steve’s strategy centers on prioritizing income generation over market value, creating a resilient investment portfolio.
  • Closed-End Funds: Understanding the role and benefits of closed-end funds in income-focused investment strategies.
  • Market Volatility: Embracing market volatility as an opportunity for strategic trading and maximizing returns.
  • Quality Criteria for Investments: Steve discusses key principles and criteria for selecting high-quality investment options.
  • Realized Returns vs. Paper Returns: Differentiating between realized returns, focusing on income growth, and the potential pitfalls of chasing paper returns.

    

Relevant Episodes: (There are 237 Content Packed Interviews in Total)

 

The transcript of this episode can be found here.
Transcripts of all episodes can be found here.