In today’s episode, Krisstina interviews Trent LaMonica. Trent is a financial adviser and he helps his clients create an investment plan for achieving their long-term financial goals.
Krisstina and Trent dive into the conversation on how to make your money sprout like this is the last spring season!
Trent shares his fun fact: “I’ve been working and receiving a paycheck since I was 12, so that’s sort of woven into the fiber of my being: understanding and participating in the economy.” Trent LaMonica (33:20). And Krisstina could attest the same for herself! These two really signify what it means to work hard and how far your work ethic can (and will!) take you.
Here’s one last little nugget for you to carry for the day: “You should always take pride in your work. No matter what it is.” Trent LaMonica (34:10).
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3 Topics Mentioned in Episode:
- Getting started in real estate investing (securing financing).
- Maintaining cash flow for opportunities (bridge loans - collateralizing your securities).
-Divesting yourself from your investment real estate (1031 into REIT also using a REIT as a point of entry for the real estate market).
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Fun Take-Aways from Episode:
—> Did you know you could use your stock portfolio to buy real estate without selling any stock?!
—> Also, there is a 1031 exchange option that can be a smart place to invest your money in the sale of a real estate asset!
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Favorite Moments:
“Everyone is interested in getting into [real estate], so we talked about a few strategies that aren’t necessarily well advertised… we help our clients move through those important things so that they can live a life they want to live…” - Trent LaMonica (2:33).
“I can’t help but feel there is a significant amount of pressure to get into real estate…I feel that some people aren’t necessarily prepared for the good, the bad, and the ugly. With any asset, with any investment, clarity, and transparency are critical to getting in there… You need to have advocates.” Trent LaMonica (21:45).
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