The world of real estate is kind of a cult. Members of this cult tend to think that pretty much anything outside of real estate is just a waste of money.
I used to subscribe to this religion. And, for the most part, I still kind of do. My portfolio is largely real estate and I truly believe it is the most tax-efficient consistent way of building wealth out there.
But it’s not the only way. I’ve made plenty of money as an entrepreneur and I know that you can make a lot of money in other kinds of business as well.
The key to making money in any of these endeavors is to know what you are doing. I know how to start businesses and I know how to make those businesses profitable, but I don’t really know how to buy them or know which business to invest in.
It’s good to know your weaknesses because they are often not insurmountable. If you don’t have the expertise, you just need to find someone who has it that you can trust.
But prior to that, Zulfe spent decades in mergers and acquisitions at the largest banks in the world and was the chief investment officer of a sovereign wealth fund in the Middle East that acquired multibillion-dollar businesses on a regular basis.
My goal in bringing him on board is to develop a broader platform of investments in the Wealth Formula ecosystem and, frankly, in my own portfolio. I want to create a platform where all of our investments are of institutional grade whether that be in real estate or any other asset class.
A platform like this for individual retail investors like us does not currently exist. I know that there are plenty of offerings outside of real estate that you see on a regular basis through the podcast ecosystem but I must tell you that I am wary of most of them.
Too many people have been ripped off because the people raising money are either unwilling or unable to do the level of due diligence needed to make sure that an opportunity is real or economically viable.
Hopefully, we can change that with what we are rolling out with the help of Zulfe. He introduced me to today’s podcast guests so I feel comfortable exposing you to them. These guys, in particular, are in the commercial transportation industry and this week’s podcast will focus on an asset class that you are probably unfamiliar with but is dominated by institutional money: the commercial airline industry.
This is one of the areas in which we are currently doing due diligence and my guests today have been identified as a potential partner for our group.
Make sure to tune in. This industry is fascinating and I believe worth consideration as a future addition to your portfolio. Start learning about it now.