π― JOIN THE BE WEALTHY MASTERMIND
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Diversification Makes You Rich. It Won't Make You Wealthy. | Brett Tanner + Katelyn Mitchell
Brett and Katelyn are recording live from Apple Mountain Resort in Georgia, two weeks after their family office closed on the 285-acre property. Before they get into their ten-things series, Brett lays out the argument that most agents and investors build portfolios the wrong way: lots of small bets feel safe, but they'll cap your wealth and bury you in management units. The episode covers five of ten things the wealthy gladly overspend on, and the real estate investor lens runs all the way through it. Brett's 130-unit portfolio versus Apple Mountain's one management unit makes the point better than any spreadsheet. Part two drops next week with the remaining five.
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β± TIMESTAMPS
0:00 Intro
0:37 Apple Mountain Acquisition
3:05 Auction Due Diligence
9:44 Three Ways to Make Money
15:36 Concentrated vs. Diversified Bets
18:27 Wealthy vs. Fake Rich
22:42 Four Spending Categories
24:43 Time: Buying It Back
32:12 The Highest Dividend
36:00 Two Scorecards of Life
41:29 Health and Longevity
46:48 Sleep as an Investment
53:17 Learning and Skills
55:06 Paying for Expertise
1:00:30 Building a Mental Model
1:05:14 Kids Education and Exposure
1:08:45 Raising Non-Entitled Kids
1:14:38 Trusted Advisors
1:18:27 CPA and Tax Strategy
1:22:38 Estate Attorney and Fiduciary
1:27:30 Episode Wrap and Preview
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π BOOKS & RESOURCES MENTIONED
- The Millionaire Real Estate Investor by Gary Keller
- The Millionaire Next Door by Thomas J. Stanley
- The Psychology of Money by Morgan Housel
- The Almanac of Naval Ravikant by Eric Jorgenson
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π GET CONNECTED
Website: www.BeWealthy.com
YouTube: youtube.com/@bewealthybrett
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Facebook: facebook.com/brettbewealthy
X/Twitter: x.com/bewealthybrett
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π FREE RESOURCES
Some links below are partner or affiliate links. Be Wealthy may earn a commission at no extra cost to you.
Free Tools & Downloads: https://www.bewealthybrett.com/resources
Cost Segregation Studies & 45L Tax Credit: SingleFamilyCostSeg.com
Infinite Banking Education: SaveLikeaBank.com
Self-Directed IRA: MaxOutRetirement.com
Trust & Entity Structure: SetupMyEstate.com
Off-Market Deals & Direct Mail: TheMagicMailers.com
1031 Exchange: Exchange1031Now.com
Bookkeeping & Financial Services: BooksOffMyPlate.com
PPC & Digital Marketing for RE Investors: ScaleMyDeals.com
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π ABOUT THE SHOW
The Be Wealthy Podcast brings entrepreneurs the strategies to grow their business, then teaches them how to think about their money. Because wealth is far more than money. It's freedom. Hosted by Brett Tanner & co-pilot Katelyn Mitchell.
Mission: Get Free.
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β οΈ DISCLAIMER
Be Wealthy and its affiliates do not provide tax, legal, or accounting advice. This material has been prepared for informational and entertainment purposes only. You should consult your own tax, legal, and accounting advisors before engaging in any transaction.
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ABOUT THE CONVERSATION
Brett and Katelyn recorded this one on-site at Apple Mountain Resort, the 285-acre golf and residential property their family office acquired two weeks prior. Brett makes the case that diversification is a path to getting rich, not wealthy, and that concentrated bets, executed well, produce the compounding that actually builds wealth. From there they cover the first five of ten things the wealthy actually overspend on: time, health and longevity, learning and skills, kids education and exposure, and trusted advisors. Part two drops the following week.
May 27 202659 mins