Rich Dad Radio Show: From Broke Pastor to Real Estate Millionaire
Episode: From Broke Pastor to Real Estate Millionaire
Release Date: February 20, 2025
Host: Jaren Sustar
Guest: Cameron Cathcart
Introduction
In this compelling episode of the Rich Dad Radio Show, host Jaren Sustar welcomes Cameron Cathcart, a former youth pastor who transformed his life through real estate investing. Cameron shares his inspiring journey from struggling to provide for his family on a modest income to executing over 500 real estate deals and achieving his dream of living in Hawaii.
Cameron's Background and Initial Challenges (01:58 - 03:31)
Cameron Cathcart begins by recounting his life as a youth pastor, a role he cherished despite its financial limitations. Coming from a family deeply rooted in ministry—with his father, brother, grandfathers, and even his great-grandfather serving as pastors—Cameron naturally gravitated toward the church. However, the financial strain became apparent when his first daughter, Riley, faced a severe allergic reaction in 2018. The resulting $15,000 hospital bill was a pivotal moment that compelled Cameron to seek a more lucrative path to support his growing family.
Quote:
"I felt like just a massive failure as a father, as a husband. I wasn't providing the way that I wanted to provide for my family." — Cameron Cathcart [03:31]
The Turning Point: Embracing Real Estate (03:31 - 18:41)
Determined to change his family's financial future, Cameron immersed himself in learning about wealth-building through various podcasts. A pivotal moment was discovering Brandon Turner's insights on the Bigger Pockets podcast, specifically Brandon's goal of using real estate to move to Hawaii. Inspired, Cameron set a clear vision for his future and began taking actionable steps toward real estate investment.
In Fall 2019, Cameron and his wife purchased their first property. Despite numerous challenges, including unexpected repairs and personal hardships, this initial venture taught them invaluable lessons. Their perseverance paid off with a successful second purchase in January 2020, where they achieved a profitable return and began to see the potential of their real estate endeavors.
Quote:
"I buy a 10X journal... And the very first thing I put every single morning and every single evening is live in Hawaii." — Cameron Cathcart [11:45]
Scaling Up During COVID-19 (18:41 - 28:14)
The onset of the COVID-19 pandemic significantly impacted Cameron's career as a teaching pastor, leading him to fully commit to real estate. During the church's closure, he dedicated 60-70 hours a week to investing, successfully closing approximately 30 deals in just a few months. This intense period of growth solidified Cameron's decision to leave his pastoral role and pursue real estate full-time in May 2020.
Quote:
"Once we knew we had this, even though we didn't make money on the first house, we knew that we can do it." — Cameron Cathcart [16:02]
Strategic Vision and Daily Practices (28:14 - 44:11)
Cameron emphasizes the importance of having a long-term vision. Attending a Maui mastermind hosted by Brandon Turner, he participated in a transformative exercise led by Rich Fecky, where he envisioned his future self living in Hawaii. This practice of daily visualization and goal-setting kept Cameron aligned with his objectives, reinforcing his commitment and hard work.
Quote:
"Every single morning, I'm realigning myself with what are the actions that I need to take today that align with that future vision of myself." — Cameron Cathcart [20:30]
He outlines his systematic approach to finding and securing deals, focusing on building relationships with key connectors such as wholesalers, real estate agents, property managers, and others who could supply him with investment opportunities. Cameron's methodical follow-up and genuine relationship-building were crucial in generating a steady stream of profitable deals.
Quote:
"It's all relationship-based. Go make connections, do everything you just said. It is literally completely free to just take some sweat equity." — Cameron Cathcart [38:28]
Funding Strategies for Real Estate Deals (44:11 - 45:04)
When discussing the financial aspects of his ventures, Cameron highlights the significance of both hard money lenders and private money sources. Early on, he partnered with Faster Funds Lending, which provided substantial funding based on deal quality. Additionally, Cameron cultivated relationships with private lenders, allowing him to secure gap funding and expand his investment capacity.
Quote:
"If you have a good deal, the money is easy... I've never struggled with finding money because I've always been really good at finding deals." — Cameron Cathcart [44:11]
Balancing Faith and Wealth (45:04 - 51:08)
A significant portion of the conversation delves into Cameron's ability to balance his newfound wealth with his faith. He reflects on biblical teachings and aligns his financial pursuits with his spiritual values, ensuring that his quest for wealth does not overshadow his relationship with God and his family. Cameron emphasizes that his identity remains rooted in his faith and personal integrity, not in his financial success.
Quote:
"My identity is not in money. My identity is not in that I live in Hawaii... My identity is in Christ. And my family and being a good dad." — Cameron Cathcart [47:36]
Cameron believes that wealth, when pursued with the right mindset, can be a tool for good—enabling him to bless others and contribute positively to his community.
Conclusion and Key Takeaways (51:08 - End)
Cameron’s journey from a struggling youth pastor to a real estate millionaire is a testament to the power of vision, hard work, and strategic relationship-building. His story underscores the importance of setting clear goals, maintaining discipline, and staying true to one’s values while pursuing financial success.
Final Quote:
"If you have a good deal, the money is easy to get... I've never struggled with finding money because I've always been really good at finding deals." — Cameron Cathcart [44:11]
Cameron concludes by encouraging listeners to build genuine relationships and stay committed to their visions, assuring them that financial success is attainable through dedication and integrity.
Notable Quotes with Timestamps
-
Cameron Cathcart [03:31]:
"I felt like just a massive failure as a father, as a husband. I wasn't providing the way that I wanted to provide for my family." -
Cameron Cathcart [11:45]:
"I buy a 10X journal... And the very first thing I put every single morning and every single evening is live in Hawaii." -
Cameron Cathcart [20:30]:
"Every single morning, I'm realigning myself with what are the actions that I need to take today that align with that future vision of myself." -
Cameron Cathcart [38:28]:
"It's all relationship-based. Go make connections, do everything you just said. It is literally completely free to just take some sweat equity." -
Cameron Cathcart [47:36]:
"My identity is not in money. My identity is not in that I live in Hawaii... My identity is in Christ. And my family and being a good dad." -
Cameron Cathcart [44:11]:
"If you have a good deal, the money is easy to get... I've never struggled with finding money because I've always been really good at finding deals."
Final Thoughts
Cameron Cathcart's story is an inspiring example of how determination, strategic planning, and aligning one's actions with a clear vision can lead to extraordinary financial success. His ability to transition from ministry to real estate, while maintaining his core values and faith, offers valuable lessons for anyone looking to transform their financial future.
For listeners seeking to embark on a similar path, Cameron's journey emphasizes the importance of continuous learning, networking, and maintaining a resilient mindset. By setting clear goals and taking consistent action, financial freedom and the achievement of personal dreams are well within reach.
Thank you for tuning into this episode of the Rich Dad Radio Show. For more insights and resources on real estate investing, visit the show’s website or follow Jaren Sustar and Cameron Cathcart on their respective social media platforms.