Podcast Summary: Brody Fausett on The Money Game With Ty Thorne
Episode Title: Brody Fausett: Founder of Real Estate Investing School
Host: Tyler Thorne
Release Date: June 22, 2022
Introduction
In this episode of The Money Game With Ty Thorne, host Tyler Thorne welcomes Brody Fausett, the founder of the Real Estate Investing School. Brody is recognized as one of the top rising real estate investing coaches in the country. The episode delves into Brody's journey, his mindset on money and success, strategies in real estate investing, and the importance of educating the next generation about financial literacy.
Mindset on Money and Success
Brody opens the conversation by challenging the conventional notion of financial success. He emphasizes that true freedom lies not just in accumulating wealth to retire early but in creating a lifestyle that offers both financial and personal fulfillment.
Brody Fausett [02:49]: "It's really not about that because you can get to a spot where you have enough passive income to replace your active income or retire early or whatever, and then you can actually sit on the couch or you can be busy doing something you don't really care to do and it's not fulfilling to you."
Tyler echoes this sentiment, highlighting a common misconception among new real estate investors who aim solely for financial freedom without considering personal fulfillment.
Tyler Thorne [03:12]: "I don't think you're going to grind to that point and create that much success in such a tiny window and then be okay to not build, not create."
Brody further elaborates on the importance of continuous growth and fulfillment over merely achieving financial milestones.
Brody Fausett [04:02]: "I think we're designed that way. I think that's how God built us is like, hey, like, you're on this earth to go maximize your potential and reach your potential."
Early Life Influences
The discussion shifts to Brody's upbringing, shedding light on how his early experiences shaped his financial mindset. Growing up in a lower-middle-class household with five siblings, Brody had to contribute financially from a young age, paying for sports equipment, his phone, and insurance.
Brody Fausett [08:19]: "And so I feel like all that played a big role in it. And just naturally, I've always had this mindset of... building up this freedom, you know."
Brody credits his mother's entrepreneurial spirit and his grandfathers' work ethics for instilling in him the values of hard work and financial independence.
Brody Fausett [12:20]: "She always knew how to chase her dreams... and so we work on these life lessons continuously with our kids."
Entering Real Estate Investing
Brody shares the pivotal moment that led him to real estate investing. While searching for a college home with friends, he found an opportunity that not only provided housing but also generated passive income.
Brody Fausett [16:18]: "It's like, hey, I'm going to go take advantage to go get ahead in life now and go, like, go through the pain now for an easier tomorrow versus do what's easy today for a hard tomorrow."
This initial success ignited his passion for real estate, driving him to educate himself further and expand his investments strategically.
Investment Strategies and the Lifestyle Filter
A significant portion of the conversation revolves around the concept of the "lifestyle filter." Brody emphasizes that every investment decision should align with one's desired lifestyle and time freedom.
Brody Fausett [20:24]: "It first starts with the lifestyle... Does it come through the filter? And if it's yes, you go all in on it."
He contrasts this with the common approach where investments are made based on opportunities without considering lifestyle implications, often leading to burnout and lack of fulfillment.
Brody introduces his "Passive Six Figure Game Plan," a six-step strategy focused on low-to-no money down investing to build substantial passive income through real estate.
Advice for Aspiring Investors
When asked about starting in real estate, Brody underscores the importance of mindset over sheer skill set. He advises beginners to adopt a resilient mindset, focusing on quality investments that align with their financial and lifestyle goals.
Brody Fausett [33:33]: "It's more about the mindset of, like, I'll be successful no matter what. I will find a way to make this, make this happen and get this done."
He also cautions against trying to time the market, advocating for consistent investment in quality deals regardless of market fluctuations.
Brody Fausett [38:25]: "You're never going to time it. The second thing is like, I never invest based on appreciation."
Family and Financial Education
Brody and Tyler touch upon the significance of instilling financial literacy and investment principles in children from a young age. Brody shares personal anecdotes about involving his daughter in real estate tasks, teaching her responsibility and the basics of property management.
Brody Fausett [42:20]: "But it's from the standpoint of we're teaching them, like, they have to run everything, you know, if they want what comes out of the property."
He believes that early exposure to financial concepts and real estate operations fosters a sense of responsibility and empowers the next generation to make informed financial decisions.
Closing Thoughts
In wrapping up, Brody reiterates the importance of clarity in financial goals and maintaining a consistent, disciplined approach to real estate investing. He encourages listeners to seek education, leverage available resources, and align their investments with their desired lifestyles.
Tyler Thorne [48:10]: "For everybody listening, take notes, listen to this over and over again, Adjust the mindset, get clarity, and go follow Brody to get some super technical stuff on how you can go execute in real estate in your life."
Brody provides listeners with resources to further their real estate education, directing them to his website and Instagram for more information and support.
Notable Quotes
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Brody Fausett [02:49]: "It's really not about that because you can get to a spot where you have enough passive income to replace your active income or retire early or whatever, and then you can actually sit on the couch or you can be busy doing something you don't really care to do and it's not fulfilling to you."
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Tyler Thorne [03:12]: "I don't think you're going to grind to that point and create that much success in such a tiny window and then be okay to not build, not create."
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Brody Fausett [20:24]: "Does it come through the filter? And if it's yes, you go all in on it."
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Brody Fausett [33:33]: "It's more about the mindset of, like, I'll be successful no matter what. I will find a way to make this, make this happen and get this done."
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Brody Fausett [38:25]: "You're never going to time it. The second thing is like, I never invest based on appreciation."
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Brody Fausett [42:20]: "We're teaching them, like, they have to run everything, you know, if they want what comes out of the property."
Conclusion
This episode provides invaluable insights into the intersection of mindset, strategic real estate investing, and the pursuit of a fulfilling lifestyle. Brody Fausett's experiences and philosophies serve as a guide for aspiring investors aiming to achieve financial freedom without compromising personal satisfaction. Through disciplined planning, continuous education, and a clear vision of desired outcomes, listeners are empowered to take control of their financial destinies.
For more information and to access Brody's Passive Six Figure Game Plan, visit BrodyFausett.com or RealEstateInvestingSchool.com.
Note: All quotes are attributed with their respective timestamps as per the podcast transcript.
