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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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⏱ 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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📚 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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🔗 GET CONNECTED

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🎙 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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⚠️ 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.