29. The Power of Networks in Growing Your Wealth with Chad Ackerman
Chad Ackerman is a senior consultant working for a major bank as well as one of the co-founders of Left Field Investors. He has been a major contributor to the development of all of the Infielder tools we have been developing this year and is working towards his goal of financial freedom. In this episode, Chad discusses how he got started in passive investing, using velocity of money to increase his returns and why he uses Tribevest for group investing.
Chad talks about how he started in real estate with private lending and then started chasing the shiny object, as so many of us have. He discusses how his networking with multiple groups has helped him on each step of his journey – including how networks helped him find focus in his investing strategy.
Chad explains that using velocity of money in passive investing can be as successful a strategy as managing your own active real estate portfolio. He gives an example of this when you get a refi 2-3 years into an investment - you still own the investment and you can go invest the returned capital in a new deal, effectively earning two returns with the same dollar.
Chad talks about his decision to liquidate his old 401k and pay the taxes plus penalty so he could invest that money passively in real estate syndications. He explains how he expects that money to be recycled and grow so that he won’t need to add more capital in the future.
Chad discusses his experience with group investing through Tribevest. He says Tribevest increased his network, helped with diversification, and helped him learn to be a better investor. He also talks about how to set up a tribe for success.
Chad ends the podcast talking about his favorite metrics when analyzing a multifamily deal and how those metrics have changed as he has grown as an investor.
Podcasts he recommends:
To connect with Chad, you can email him at chad@leftfieldinvestors.com.
If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.
Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.
Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.