One Investment Choice Won't Fit All; Avoid These Pitfalls In Yours with Joe Bauer

damottaleonardweb
Apr 12, 2022
3 min read

Joe Bauer, fitness expert and investor, joins The Prosperity Perspective to share his insight from a life that took him from coast to coast and brought him real estate ownership from Idahoan family homes to his 60-square foot traveling van. And while he admittedly experienced mistakes along the way, he shares with host Liam Leonard the best ways to invest, stressing the importance of identifying real estate investment opportunities that fit your lifestyle.

3 Key Takeaways:

How Joe trained his mother to be the fittest 65-year-old Cross Fitter in 2021
The one piece of advice Joe would give to listeners thinking about investment
Why it may be better to keep real estate as a secondary source of income

Listen to the Full Episode:

Show Notes:

[0:20] Joe Bauer introduces himself

Joe grew up as a homeschooler when it was not cool before attending high school and college
Joe found an affinity for working out and built 3 personal training business locations
After that, Joe felt he was hitting the ceiling with the income he could make and turned to real estate
He pursued his real estate education, lived in a van with his girlfriend for four years
He developed The Get Better Project, an online, at-home fitness program with minimal necessary equipment

[2:40] What metrics do they use to determine the fittest 65-year-old?

They enter into a worldwide CrossFit program called A Worldwide Open and the CrossFit Games

[3:54] Where did Joe invest his income once he began to make additional profit?

He invested in cash flowing units until the downturn hit him with foreclosure
- "What I learned was that the locations of those properties I was investing in were not suited for a long-term Joe." -Joe Bauer
- "I was so interested in moving quickly into making myself successful in real estate that I made moves that were too fast." -Joe Bauer

[5:57] Would setting reserves or other methods have been enough for Joe to bridge the gap and stay in real estate?

Joe explains how his financial and occupational situation created the perfect storm

[8:25] What way does Joe look for properties today using his past experiences?

"I had to educate myself more on how to get loans that will be suitable for long-term cash flow." -Joe Bauer
"Not having your primary income dependent on your real estate investments gives room to research and roll your income back into real estate." -Joe Bauer

[10:32] What asset class or allocation is Joe attracted to?

First, they look for areas where they like to spend their time personally
"Definitely always look for two to four-family rental properties because you can qualify for personal financing and you can use them to gain preferential financing." -Joe Bauer
You can also use them as an Air BnB because there is a lot of software available to you on the income and entry fuel of Air BnBs

[12:30] As Joe plans to build his business, how does he determine how much to put back into it?

"We are trying to put 50% into marketing dollars just to grow it as much as possible." -Joe Bauer
Understand that everyone has a different lifestyle cost
Joe's problem right now is centered around hiring new coaches and handling clients that monetize their time

[16:27] What one piece of advice would Joe give to listeners thinking about investment?

"If I had to talk to my 20-year-old self, I'd say to invest in things that you find passion in. And if that's different from what others tell you, that's okay. Just make sure you explore it fully." -Joe Bauer
Find different avenues to make money in your area of passion and then invest in real estate without being a full-time real estate investor

[18:20] Joe shares the best ways you can connect with him

"This is my passion project. So I don't care if people want to reach out and ask questions!" -Joe Bauer

See our resources section to connect with Joe!

About Joe Bauer:

Joe is a CrossFit Games coach to the 2021 first place fittest 65+ women in the world, a CrossFit competitor himself, a ten-time ultramarathon runner, and two-time Ironman, with a Kinesiology degree, and runs the Get Better Project, his online workout, nutrition, and coaching program while living and traveling in a Sprinter van for the last 4 years.