#316: From Broke to Wealthy: A Real Estate Investor's Journey with Mark Perlberg
Are you struggling to build wealth despite a high income? You're not alone.
In this episode of Wealthy Wellthy, host Krisstina Wise sits down with Mark Perlberg to discuss the crucial difference between income and wealth. Krisstina, founder of Wealthy Wealthy and a seasoned real estate investor, shares her journey from high-income earner to near bankruptcy, and how she turned it around to build lasting wealth.
The main focus of this conversation is understanding that high income doesn't automatically translate to wealth. Krisstina and Mark delve into strategies for entrepreneurs and real estate investors to maximize their income while simultaneously building long-term wealth. They emphasize the importance of profit-first mentality, proper money management, and playing the long game in wealth creation.
Additional topics covered include the pitfalls of "get rich quick" mentalities in real estate investing, the importance of liquidity in navigating market changes, and practical tips for managing personal and business finances. The discussion also touches on tax implications for real estate investors and the value of experienced mentorship in wealth building.
Ready to transform your relationship with money and start building true wealth? Listen to this episode for actionable insights from Krisstina Wise and Mark Perlberg on how to create lasting financial success.
Upcoming Workshop
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Key Takeaways
10:50 First steps for entrepreneurs
15:26 Real estate investing strategies
21:42 Measuring wealth in real estate
29:04 Long-term real estate strategies
34:33 Lessons from market downturns
39:57 Biggest wins in real estate
43:15 Christina's approach
Memorable Quotes
"Income and wealth are two radically different distinctions, yet they get conflated all the time."
"Wealth is private and it's not obvious. I might have $10 million in net worth, but if I drive a Honda, people can't see my financial statements or bank accounts."
Whether you're just starting or wherever you are in your business, take away this realization: Yes, I need to grow my business, but I also need to build my wealth."
Real estate just has so much opportunity. But that's the long game and that's reaching out with the end in mind: How much wealth do I need from these different properties that's going to provide that passive cash flow?"
My biggest wins have been buy and hold. It's the antithesis of get rich quick. It's get rich slow. And if you have a get rich slow mentality in real estate, you can get rich."
Connect with Krisstina
Website - https://wealthywellthy.life/
Instagram - https://www.instagram.com/krisstinawise
YouTube - https://www.youtube.com/@krisstinawise
Krisstina's Book, Falling For Money - https://www.amazon.com/dp/0692560904/
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