In this episode of the Grit Behind the Grind podcast, host Eric Rowell interview Jon Chan, a real estate investor who transitioned from traditional rental properties to a lending-focused business model. Jon shares his journey, the lessons learned during the COVID-19 pandemic, and the importance of community and underwriting in real estate. He emphasizes the benefits of self-directed IRAs and the shift towards lending as a more efficient way to achieve financial independence. The conversation highlights the value of networking and the support found within entrepreneurial communities.
Takeaways
The pandemic prompted many to reassess their career paths.
Financial independence is crucial for personal security.
Owning rental properties may not be the best path to wealth.
Lending can provide more consistent returns than property ownership.
Self-directed IRAs offer flexibility in investment choices.
Understanding underwriting is essential for safe lending.
Joining a community can accelerate learning and growth.
Having a supportive partner can boost confidence in entrepreneurship.
Creating opportunities for others can be a rewarding aspect of business.
Focusing on a specific market can enhance business success.
Chapters
00:00 Introduction to Grit Behind the Grind Podcast
01:08 Jon Chan's Journey into Real Estate
03:06 The Shift from Rental Properties to Lending
06:21 Understanding Self-Directed IRAs and Lending
09:42 The Importance of Underwriting in Lending
12:52 The Benefits of Community in Real Estate
20:00 Transitioning from W-2 to Entrepreneurship
24:04 New Ventures in Lending and Market Focus
Resources for you:
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Guest Info:
Instagram: https://www.instagram.com/jonchanrei/
Linktree: linktr.ee/jonchanrei