949-392-1999
SHOW NOTES FOR EPISODE 051 – RETIRE RICH WITH RENTALS WITH KATHY FETTKE
From near tragedy to real estate mogul, Kathy Fettke, real estate investor and author of Retire Rich With Rentals, shares her story of how real estate investing helped her overcome tough times to create passive income and wealth for generations to come. In this episode, Kathy Fettke shares how she survived a serious health scare with her husband, the crash of 2007 and some of the biggest challenges of her life. She shares how, today, through smart passive real estate investing, she now has the freedom to enjoy an active lifestyle and quality time with her husband and daughters.
What You Will Learn
- How real estate investing helped her through extremely difficult times
- It’s important to not let emotion drive your real estate decisions
- How passive real estate investing can allow you to live the life you’ve always dreamed
- Are we in another economic bubble and, if so, how do you prepare for it?
- Why real estate investing is the best hedge during tough economic times
- How to follow industry economic shifts to find the best places to invest
Our Guest
Kathy Fettke
Kathy Fettke is the author of the #1 best seller, Retire Rich with Rentals, and is host of The Real Wealth Show podcast. In 2001, she became a certified personal coach and later took the coaching process to television, producing a cable show called “DREAM” which followed the process of 6 people going after their dreams over a 90-day period. Kathy noticed a reoccurring theme on her show: most people didn’t have time for their dreams because they were too busy working to pay the bills. Her show sponsor at the time was a real estate expert and the segments they produced changed her life. After interviewing dozens of real estate millionaires, Kathy soon discovered their best strategies for creating passive income streams. Shortly thereafter, she and her husband began purchasing investment properties and since then learned the highs and lows of investing that can only come from hands-on experience.
With a passion for and expertise in research, real estate and economics, Kathy Fettke is a frequent guest on such media as CNN, CNBC, Fox News, NPR, CBS MarketWatch and the Wall Street Journal. In her free time, Kathy enjoys travel, hiking, rock climbing, skiing, figure skating and surfing. She lives in Malibu, California with her husband, Rich, and their two daughters.
More About Kathy
- Started off not really interested in real estate
- Had job at ABC News
- Had kids, she quit job
- Invested 10% of their income
- Bought big home in Northern California
- Her husband wrote successful book and was billed as “the New Tony Robbins”
- Husband diagnosed with melanoma and given 6 months to live
- He was an extreme athlete and she couldn’t believe it was happening
- She had to go from stay-at-home to bread winner
- Her dad was a dentist and investorwho was successful in real estate
- Had to rent out rooms in their house to exchange students to cover the mortgage
- She had had a radio show called “The Edge” and she decided to revitalize it as means to make money
- Started inviting wealthy people on show to share heir stories, took on sponsors – one was a real estate investor and she did special advertising segments for him – she learned much about successful real estate techniques
- Her show grew, she was asked to speak at events
- Got the news that her husband was OK
- Business continued to grow along with her real estate investments
- She saw signs that the real estate bubble was coming (2006)
- Sold all their California real estate (except their home) and bought properties in Texas
- Moved to Malibu because daughter is an actress but still keepst business in Northern California
Biggest Mistake
- When they sold California properties to buy properties in Texas, emotional ties caused them to hold on to their personal home. If they had sold they would have made over a million dollars
The Coming Economic Boom
- She sees another crash coming like in 2007
- We’re in a massive bubble
- Dow is 60% over value
- If you’re 30, you might want to take the gamble but if you are 50 plus, you don’t want to gamble with your hard-earned life savings
- Tech stock valuations are ridiculous
- Square (the phone app), IPO valued at $7-9 billion, never once showed a profit
- The cycle we’re in in now is attracting money in silicon valley that mirrors the Internet bubble burst of 2000-2001
- Government will try to control with low interest rates, quantitative easing
- People need to retrain to work in new industries (Tesla, etc.)
- Major industries are moving – Hollywood (to Pittsburgh, Atlanta) and Silicon Valley (Austin, Miami) – major opportunities for investors
How Will Coming Crash Affect Real Estate?
- People will always need a place to live so real estate in one of the best investments in a crash
- Major cities will be hit hardest
- Look to invest in markets were rentals will be strongest
How do 50 Plusers Get Started in Real Estate Investing Today?
- What you’ve heard in the past doesn’t apply today
- Baby Boomers are major influencers
- As we retire, we’re taking out money out of the market
- Companies don’t have as much access to cash
- Cannot be passive about your money
- Bonds aren’t a good idea any more
- You need collateral-based investments – real estate provides that, the stock market doesn’t
- Get educated, learn all you can and take advantage now
- Start buying small and grow it
What is Ahead for Her Business?
- She is living on passive income today
- Focusing now on helping others to do the same
- Creating videos with experts sharing their expertise
- Funds generated from their education efforts donated to charities
Rap-It-Up
- Favorite real estate book: The Science of Getting Rich by Wallace D. Wattles
- Favorite business book: Extreme Success by Rich Fettke
- Favorite app: Podcast App
- If you had to start all over, knowing what you know, and you only had $1,000, what would you do to launch your real estate investing business?
- Money is not important – It’s about relationships and education
- Make contacts with people who can help you financially and can mentor you
Her Book
How Can People Reach Kathy
- RealWealthNetwork.com
- Her Podcast on iTunes: The Real Wealth Show
- Free phone consultation: 888-RW-Network or 925-280-2830
IF YOU LIKED THIS PODCAST, we would love if you would go to iTunes, Stitcher, GooglePlay and iHeartRADIO and Subscribe, Rate & Review our podcast. This will greatly help in sharing this podcast with others seeking to learn real estate investing as a means to achieve a successful retirement.
Check out our other podcasts at olddawgsreinetwork.com.
Get a FREE copy of our 3-Minute Rental Property Analyzer at olddawgsreinetwork.com.
Episode Sponsor: Meno Studio – menostudio777@gmail.com
