Real Estate: The Secret to Wealth for Gym Owners?
You can teach a great squat. But do you want to be coaching the 5-a.m. class when you're 70?
If not, you might want to think about other ways to generate long-term wealth—and for some gym owners, investing in real estate just might be the best way to do that.
Here, Mike Warkentin speaks with two gym-owner-turned-investors to learn exactly how and why they've used real estate to grow their wealth. Two-Brain founder Chris Cooper shares his experience investing in commercial real estate while Two-Brain Fitness Business mentor Jeff Smith covers the residential side.
Plus, you'll get a glimpse into what the Two-Brain Tinker group has to offer gym owners who are ready to start seriously growing their wealth.
Links:
Beyond the Whiteboard
AGuard
Gym Owners United
Timeline:
1:02 – Chris Cooper’s journey into real-estate investing.
5:34 – Owning your gym’s building: risk vs. reward.
11:29 – Who should consider buying?
13:12 – How to get the inside scoop.
15:07 – Commercial or residential?
18:27 – Figuring out what’s possible.
20:27 – Real estate: cheaper—and safer—than other retirement savings options.
25:32 – How Jeff Smith got into the real-estate game.
26:37 – Risk management.
29:28 – Jeff owns a bunch of residential properties. So why does he still rent space for his gym?
35:05 – The “BRRR” strategy
38:41 – Not a get-rich scheme, but the next phase in the entrepreneurial life cycle.
42:10 – How to bridge the gap from gym owner to wealth accumulator.
43:18 – What happens in the Tinker group—and how to get in.
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