Multiple Perspectives

In this episode of Multiple Perspectives [https://podcasts.apple.com/us/podcast/multiple-perspectives/id1511779490], host David Lofgren [https://www.linkedin.com/in/david-lofgren/] sits down with investor and educator Brian Feroldi [https://www.linkedin.com/in/brianferoldi/] to unpack the psychology behind successful investing. From his early mistakes in day trading to building long-term conviction, Brian shares how mastering mindset matters more than market analysis. Listeners will learn why financial foundations create psychological safety, how to seize opportunities during downturns, and the role of continuous learning and AI tools in building resilient investment strategies. What You'll Learn: * How to evolve from short-term trading to building sustainable wealth through long-term investment strategies * The Psychology First Principle: Why natural human emotions often lead to poor investment decisions * How to develop conviction in your investment thesis by thoroughly understanding business fundamentals * Why market downturns present opportunities and how to train yourself to act against emotional impulses * The "Personal Finance Foundation" framework for building psychological safety in your investment approach * How to strategically incorporate AI tools into investment research without compromising analysis quality * The "Network Effects Test" for evaluating competitive advantages in modern businesses * Why index funds remain the optimal choice for 99% of investors, and how to know if you're in the 1% Brian Feroldi is the founder of Long Term Mindset, a renowned investment strategist and financial educator with over 20 years of experience. Known for blending fundamental analysis with investor psychology, he helps individuals build conviction, resilience, and confidence in their investing. From early lessons as a novice trader to identifying opportunities in companies like Google, Netflix, and Chipotle, Brian has built a market-beating portfolio and now teaches others how to analyze businesses and invest successfully for the long term. If you enjoyed this episode, make sure to subscribe, rate, and review on Apple Podcasts, Spotify, and Google Podcasts. Instructions on how to do this are here [https://www.fame.so/follow-rate-review].  Episode Highlights: * [02:19] The Psychology of Early Investing Mistakes  Brian shares how his initial approach to investing focused on day trading and quick gains, leading to consistent losses that ultimately became valuable learning experiences. For high-earning professionals, understanding that even business education often fails to teach practical investing wisdom is crucial to avoiding common pitfalls. Rather than giving up after early failures, Brian recognized the stock market as a long-term wealth-building machine and committed to learning proper investment principles. He discovered that studying investing books and maintaining persistence through setbacks was essential for developing sound investment knowledge. This mindset shift from short-term trading to long-term investing became the foundation for his future success as an investor. * [13:40] Capitalizing on Market Fear  During the 2008-9 financial crisis, Brian identified Google as a strong investment opportunity when its stock had fallen 60% from its peak, demonstrating how market panic creates opportunities. High-earning professionals can learn that the most profitable investments often come when market sentiment is at its most negative. He explains how he similarly invested in Netflix during its 80% decline in 2013 and Chipotle during its 75% drop in 2015 due to the E. coli crisis. The key insight is that having deep knowledge of a company's fundamentals provides the conviction to invest when others are fearful.  * [31:20] The Critical Role of Continuous Learning  Brian emphasizes that modern investors have unprecedented access to educational resources through podcasts, YouTube, blogs, and other digital platforms. For wealth managers and finance professionals, the challenge isn't finding information but rather identifying quality sources and avoiding misleading content. He recommends starting with the company's annual reports and using AI tools to help analyze and understand complex financial documents. The focus should be on building genuine conviction through thorough research rather than making superficial investment decisions. This approach helps develop the deep understanding necessary to maintain positions through market volatility. * [34:49] Building a Resilient Investment Portfolio  Brian reveals that 70% of his net worth is in individual stocks, with the remainder in index funds for retirement accounts and cash reserves. For high-net-worth individuals, he stresses the importance of having a strong personal finance foundation, including zero debt and six months of emergency funds, before pursuing active investing. This conservative approach to personal finances provides the psychological safety needed to invest aggressively in stocks. The strategy involves holding about 30 companies long-term and allowing winners to become larger portfolio positions naturally through appreciation.   Episode Resources: * Multiple Perspectives is brought to you by https://equitymultiple.com/ [https://equitymultiple.com/?utm_source=famehost&utm_medium=podcast&utm_campaign=multiple-perspectives] * Brian Feroldi on LinkedIn  [https://www.linkedin.com/in/brianferoldi/] * Long Term Mindset Website [https://brianferoldi.kit.com/accountingebook] Multiple Perspectives is handcrafted by our friends over at: fame.so [https://www.fame.so/?utm_medium=podcast&utm_source=bcast&utm_campaign=masters-of-community-with-david-spinks?utm_medium=podcast&utm_source=bcast&utm_campaign=fame-client]

In this episode of Multiple Perspectives [https://podcasts.apple.com/us/podcast/multiple-perspectives/id1511779490], host David Lofgren [https://www.linkedin.com/in/david-lofgren/] is joined by Andy Hill [https://www.linkedin.com/in/andyhillmkm/], Founder of Marriage, Kids and Money, to discuss how families can achieve financial independence while prioritizing time together. They explore the "Coast FIRE" strategy, why the traditional 40-year corporate grind might not be the only path to wealth, and how to use money as a tool to buy back precious family time rather than just accumulating assets. What You'll Learn: * How to reframe financial success beyond traditional retirement planning to create freedom earlier in life * The "Coast FIRE" strategy for building wealth while working less and enjoying life today * Why diversifying your life portfolio is as crucial as diversifying your financial portfolio * How to transition from corporate work to part-time entrepreneurship without sacrificing financial security * The framework for calculating exactly how much wealth you need to maintain your desired lifestyle * Why generational wealth transfer should focus on knowledge and values rather than just money * How to structure your finances to support a 20-25 hour work week while maintaining financial stability * The importance of challenging cultural narratives about success, wealth-building, and work-life balance Andy Hill is the Founder of Marriage, Kids and Money, a financial education company focused on helping families achieve time freedom. After experiencing corporate burnout while raising young children, Andy created content to document his family's journey from negative $50,000 net worth to over $1 million while building a lifestyle that prioritizes family time. Through his podcast, YouTube channel, and educational content, Andy helps families use intentional financial strategies to buy back time and create lives aligned with their values rather than just their bank accounts. If you enjoyed this episode, make sure to subscribe, rate and review on Apple Podcasts, Spotify and Google Podcasts, instructions on how to do this are here [https://www.fame.so/follow-rate-review].  Episode Highlights: * [08:33] Challenging the 40-Year Corporate Career Myth Andy Hill reveals why he believes the traditional American ideal of working hard for 40 years until retirement is fundamentally flawed. High-earning professionals often fall into the trap of delayed gratification, betting their happiness on the final 13 years of life after retirement at 65. This approach ignores that physical capabilities and health may be diminished by then, and places too much emphasis on a future that isn't guaranteed. Andy advocates for paying attention to money management early to buy back time in your 30s and 40s when you can fully enjoy it with family and maintain better health. * [18:26] The Solopreneur Philosophy for Life Design  Andy explains his intentional approach to building a "solopreneur" business that serves his life rather than consuming it. After transitioning from corporate America, he deliberately keeps his business small enough to generate the income needed for his family's comfort while preserving time for what matters most. His "glass jar" metaphor illustrates how he filled his life with the important rocks first—family, health, friendships, and time with aging parents—leaving only 20-25 hours per week for work. This approach demonstrates how redefining success can create a more fulfilling and sustainable lifestyle. * [23:12] Generational Wealth Through Knowledge, Not Just Money Andy shares his philosophy that generational wealth is better transmitted through teaching and modeling than simply leaving money to children. He references studies showing that inherited wealth typically fades by 70% after three generations because recipients lack the knowledge and motivation to preserve what they didn't earn. For his own children, Andy focuses on demonstrating a diversified approach to life success that includes strong relationships, health, and financial literacy. He emphasizes that putting all energy into one corporate job creates vulnerability, as companies can eliminate positions regardless of employee dedication and sacrifice. Episode Resources: * Multiple Perspectives is brought to you by https://equitymultiple.com/ [https://equitymultiple.com/?utm_source=famehost&utm_medium=podcast&utm_campaign=multiple-perspectives] * Andy Hill on LinkedIn  [https://www.linkedin.com/in/andyhillmkm/] * Marriage Kids and Money Website [https://marriagekidsandmoney.com/] Multiple Perspectives is handcrafted by our friends over at: fame.so [https://www.fame.so/?utm_medium=podcast&utm_source=bcast&utm_campaign=masters-of-community-with-david-spinks?utm_medium=podcast&utm_source=bcast&utm_campaign=fame-client]

In this episode of Multiple Perspectives [https://podcasts.apple.com/us/podcast/multiple-perspectives/id1511779490], host David Lofgren [https://www.linkedin.com/in/david-lofgren/] welcomes Seth Williams [https://www.linkedin.com/in/seth-williams-2ba52067/], founder of REtipster [https://retipster.com/], an online community that offers real-world guidance for real estate investors. Seth shares how real estate investors can stay ahead of the market's evolution curve and how he moved from land flipping to commercial development. He also offers insights on adapting strategies to situations, evaluating self-storage opportunities, and leveraging creative financing. The conversation offers a behind-the-scenes look at how independent investors should respond to shifting market dynamics while pursuing sustainable and value-driven approaches to building wealth. What You'll Learn: * How to identify and capitalize on land investment opportunities  * Why successful real estate strategies must evolve beyond traditional flipping models * The framework for transitioning from land flipping to commercial development * How to evaluate self-storage development opportunities  * The "Passive Partnership" model for scaling land investments  * Why diversification across real estate strategies becomes crucial as markets mature * The strategic shift from pure speculation to value-add development in land investing * How to adapt investment strategies when market inefficiencies begin to disappear * The key principles for analyzing and executing self-storage development projects * Why creative financing and development expertise are becoming essential in modern real estate investing Seth Williams is the founder of REtipster, a prominent real estate education and content platform, and a successful land investor who achieved financial independence in his mid-30s. With extensive experience in land flipping and self-storage development, Williams has evolved from identifying undervalued land opportunities to developing full-scale commercial properties, including a 170-unit self-storage facility. Known for his innovative approach to real estate investing, he has successfully adapted his business model from simple land flips to more complex development projects and now serves as a land deal funder for other investors. Episode Highlights: * 11:51 Apathy Over Value: The Hidden Key to Land Investing  Seth reveals that successful land investing isn't about finding owners who don't know their property's value but rather identifying those who are apathetic about ownership. He explains how this investor-seller dynamic creates opportunities to acquire land at 10-30% of market value from motivated sellers who prioritize convenience over maximizing returns. The strategy particularly resonates with inherited properties where owners have no emotional attachment or practical use for the land. To execute effectively, investors must focus on making the transaction process extremely simple and fast, offering quick closings and cash payments.  * 13:26 Evolving Beyond Traditional Land Flipping  As markets become more efficient and competition increases, Seth describes how successful land investors must evolve beyond simple buy-and-flip strategies. This evolution requires developing creative approaches like property subdivision, entitlement work, and full-scale development to maintain healthy profit margins. The transition from passive to active investment strategies reflects a broader trend in real estate, where adding value through development becomes essential as pure arbitrage opportunities diminish.  * 17:00 Self-Storage Development Framework   Seth outlines a comprehensive framework for evaluating self-storage development opportunities, starting with a thorough market analysis of existing facilities and demand patterns. The approach emphasizes professional validation through feasibility studies, which provide detailed financial projections and identify potential blind spots in the investor's analysis. This systematic evaluation process helps mitigate risks in larger-scale commercial real estate development projects. Professional investors can apply this framework to assess similar development opportunities across various asset classes.  * 28:09 Creative Partnership Model  Seth shares an innovative approach to land investing where experienced investors fund deals sourced by active operators, creating mutually beneficial partnerships. This model allows investors to leverage their capital while benefiting from operators' deal-sourcing expertise, typically splitting profits 50/50 or 60/40 depending on contribution levels. The strategy is particularly effective in markets where traditional bank financing for land deals is limited or unavailable. For high-net-worth individuals, this represents an opportunity to scale their real estate portfolio without handling day-to-day operations.  Episode Resources: * Multiple Perspectives is brought to you by https://equitymultiple.com/ [https://equitymultiple.com/?utm_source=famehost&utm_medium=podcast&utm_campaign=multiple-perspectives] * Seth Williams on LinkedIn  [https://www.linkedin.com/in/seth-williams-2ba52067/] * REtipster Website [https://casmoncapital.com/] Multiple Perspectives is handcrafted by our friends over at: fame.so [https://www.fame.so/?utm_medium=podcast&utm_source=bcast&utm_campaign=masters-of-community-with-david-spinks?utm_medium=podcast&utm_source=bcast&utm_campaign=fame-client]

In this episode of Multiple Perspectives [https://podcasts.apple.com/us/podcast/multiple-perspectives/id1511779490], host David Lofgren [https://www.linkedin.com/in/david-lofgren/] is joined by John Casmon [https://www.instagram.com/jcasmon/], Owner of Casmon Capital Group, to discuss how professionals can transition from direct real estate investing to commercial syndications. After experiencing corporate bankruptcies firsthand, John discovered the power of commercial real estate as a path to financial control. He shares his evolution from duplex owner to commercial syndication expert, revealing why small properties hit natural scaling limits and how treating real estate as a business rather than just an investment changes everything. What You'll Learn: * Why most people don't realize passive commercial real estate investing is even possible * How limited partnership structures work and what makes a truly passive investment * Why John believes small properties can't generate enough revenue to operate professionally * The three-pillar due diligence framework: team evaluation, market analysis, and deal assessment * How to use the seller's story as a lens for analyzing financial performance data * Why John emphasizes that matching narrative to numbers beats perfect projections * The characteristics of John's preferred investment strategy: B-class value-add multifamily deals * What risks every apartment investor should identify before making investment decisions John Casmon is the Owner of Casmon Capital Group and host of the Multifamily Insights podcast. After experiencing corporate bankruptcies at General Motors and a second company, John transitioned from marketing and advertising into real estate investing to gain more control over his financial future. Starting with a duplex and scaling through direct property ownership, John discovered the limitations of small-scale investing and pivoted to commercial real estate syndications. He specializes in B-class multifamily value-add deals in Midwest markets, focusing on properties that are already profitable but have potential for enhancement through strategic improvements and professional management. Episode Highlights: * [00:08:52] The Passive Investment Misconception John Casmon reveals that most people don't even realize passive commercial real estate investing is possible, thinking real estate investment only means being a landlord or house flipper. High-earning professionals often assume they need to buy rental properties directly, not understanding they can invest in larger apartment buildings through syndications. John explains how limited partnership structures work, where general partners handle all operations while limited partners provide capital and receive returns without day-to-day involvement. This passive approach allows professionals to benefit from real estate's cash flow, appreciation, tax advantages, and leverage without the headaches of property management. The key insight is recognizing that investing in commercial real estate doesn't require becoming a full-time operator. * [00:36:41] The Story Must Match the Numbers Framework John emphasizes that commercial real estate fundamentally differs from small rental properties because it operates as a true business rather than just an investment. With only two units generating perhaps $2,000-$2,500 in gross rent, there isn't enough revenue to hire professional property managers, contractors, or staff. Commercial properties generate tens of thousands or hundreds of thousands monthly, enabling professional operations with dedicated on-site managers, licensed and bonded contractors, and systematic business processes. John notes that when you transition to commercial scale, you can tap into corporate experience and run properties like professional organizations rather than individual investments requiring personal involvement in every maintenance issue. * [22:50] - Essential Factors for Developing Market Cycle Opinions John outlines his approach to due diligence by first understanding the seller's story, then using that narrative as a lens to analyze financial data. When a broker explains why a property is for sale - whether it's a long-term owner whose property manager passed away or a syndication group exiting after improvements - John looks for evidence of that story in the trailing twelve months of financial performance. If occupancy is declining due to management issues, it should show in the numbers; if rents have been increased through renovations, that should be visible in the rent roll. John emphasizes that without understanding the story first, investors are just guessing when reviewing financial statements, but the narrative provides the framework for identifying what to look for in the data. Episode Resources: * Multiple Perspectives is brought to you by https://equitymultiple.com/ [https://equitymultiple.com/?utm_source=famehost&utm_medium=podcast&utm_campaign=multiple-perspectives] * John Casmon on LinkedIn  [https://www.linkedin.com/in/multifamily-apartments-john-casmon/] * Casmon Capital Group Website [https://casmoncapital.com/] Multiple Perspectives is handcrafted by our friends over at: fame.so [https://www.fame.so/?utm_medium=podcast&utm_source=bcast&utm_campaign=masters-of-community-with-david-spinks?utm_medium=podcast&utm_source=bcast&utm_campaign=fame-client]

In this episode of Multiple Perspectives [https://podcasts.apple.com/us/podcast/multiple-perspectives/id1511779490], host David Lofgren [https://www.linkedin.com/in/david-lofgren/] sits down with Jeremy Roll [https://www.linkedin.com/in/jeremy-roll-655107], President of Roll Investment Group, to discuss the current state of commercial real estate investing and market cycle positioning. Jeremy shares his contrarian perspective on why he believes we're approaching an end-of-cycle reset, the challenges he sees facing multifamily investors, and his personal strategy of holding treasuries while waiting for what he considers better opportunities. Whether you're a seasoned investor or exploring alternatives to traditional markets, this episode offers Jeremy's insights on his approach to protecting capital and positioning for what he anticipates will be the next cycle. What You'll Learn: * Why are California real estate markets experiencing low transaction volumes? * The challenges facing investors who entered the market between 2020-2022 * Why Jeremy is concerned about pivoting to private credit at this time * The strategy behind holding treasuries despite low yields * How do you develop independent market cycle opinions? * What factors should new investors research before investing? * The significance of Warren Buffett's current cash position * Jeremy's approach to education and due diligence in alternative investments Jeremy Roll is the President of Roll Investment Group since 2007, leading alternative investment opportunities in the $500k-$25M range with over $500 million in current assets under management. He is also the cofounder of For Investors by Investors (FIBI), California's largest non-institutional real estate investor meeting series with 12 chapters and over 30,000 members. A staunch advocate for cycle-aware investing, Jeremy has been featured on over 200 podcasts sharing his insights on market timing, due diligence, and risk management. His investment approach emphasizes predictability and lower risk, shaped by his experience navigating the dot-com crash and subsequent market cycles. Jeremy also serves as an advisor for Realty Mogul and has invested in companies including StartEngine, Thrive Market, and ROM Technologies. Episode Highlights: * [06:26] - The Private Credit Pivot Problem Jeremy explains why he's concerned about investors pivoting to private credit and debt investing at what appears to be the end of an economic cycle. He shares his own experience doing hard money lending from 2009 to 2022, stopping just before the first interest rate hike. Jeremy warns that while debt investing may seem safer, values decline dramatically during downturns as uncertainty increases, and loan-to-value ratios can quickly become problematic when property values fall. He cautions that many investors are being reactive rather than proactive, jumping into these alternatives without considering whether they'll perform well through a potential cycle reset. * [09:42] - Smart Money Strategies for End-of-Cycle Positioning When asked what smart money does at the end of a cycle, Jeremy outlines his personal strategy of holding treasuries despite not liking the yield. He explains the tax efficiency benefits for California residents and describes his recent small Bitcoin position as a probability-based bet on the four-year cycle pattern. Jeremy emphasizes that investors can either take advantage of end-of-cycle opportunities if they're willing to accept high risk, or stay on the sidelines with cash-like investments. He stresses that all speculative assets, including Bitcoin, silver, and gold, typically crash during end-of-cycle resets, making timing crucial. * [22:50] - Essential Factors for Developing Market Cycle Opinions Jeremy provides a framework for new investors to develop their own market cycle opinions rather than simply following others' advice. He recommends talking to experienced investors who have seen multiple cycles, studying stock market charts and PE ratios, and understanding why successful investors like Warren Buffett are holding significant cash positions. Jeremy emphasizes the importance of recognizing that we're potentially in a record-long economic cycle and understanding what that means for future opportunities. He stresses that investors must be 100% educated on current cycle positioning before making investment decisions, as sponsors will always have compelling business plans regardless of market timing. Episode Resources: * Multiple Perspectives is brought to you by https://equitymultiple.com/ [https://equitymultiple.com/?utm_source=famehost&utm_medium=podcast&utm_campaign=multiple-perspectives] * Jeremy Roll on LinkedIn  [https://www.linkedin.com/in/jeremy-roll-655107] Multiple Perspectives is handcrafted by our friends over at: fame.so [https://www.fame.so/?utm_medium=podcast&utm_source=bcast&utm_campaign=masters-of-community-with-david-spinks?utm_medium=podcast&utm_source=bcast&utm_campaign=fame-client]