The Road to Alternative Investments, Chris Odegard of The Prolific Investor
In a 24-hour period, Chris Odegard’s life turned upside down with divorce. From one day to the next, 55% of his assets were transferred out of his control, he became responsible for paying child support and had to start paying alimony.
- Exceeding the expectations of our youth
- Losing more than half your assets in your 40s
- Beyond its emotional consequences, divorce can result in the loss of more than half your assets, paying child support, and paying alimony.
- Choosing to work longer, reduce your lifestyle, or start down a different career path
- The effect of learning about real estate investments as compared to the 401K road to mediocrity
- “The teacher will appear when the student is ready.”
- The risks and rewards of starting over and starting to invest in alternatives or staying in traditional markets
- Expecting the up-sale at investment seminars
- Preparing yourself for others close to you to try to dissuade you from nontraditional opportunities
- Taking advantage of podcasts and YouTube to learn more about virtually anything
- National and local Real Estate Investors Association (REIA) partnership opportunities
- Starting investing in real estate with a college duplex purchased with his daughter
- Moving from a W2 job to the passive income of real estate investments
- Financial considerations of real estate investing versus securities in the market
- Changing your life by doing “the one thing” that is most important
Links referred to in the episode, and how to connect with the guest, Chris Odegard:
Get off Your A$$ and Manage Your Money: Why You Need Alternative Investments
National Real Estate Investors Association Local Search
Rich Dad Poor Dad book on Amazon
Rich Dad Poor Dad training organization
Gary W. Keller’s The One Thing book
Matt Foley: Van Down by the River – SNL (Chris Farley)
