Wealth Busters

"How to invest your first $1,000 in 2024!" - Eric Pan of Ericnomics

Hey everyone! Welcome back to another episode of Wealth Busters! Today, we hang out with Eric Pan, better known as Ericnomics, a personal finance whiz with over 200,000 followers on Instagram and TikTok. Eric’s got an impressive background in traditional finance, hedge funds, and crypto, and now he’s sharing his journey with us. We chat about everything from his days working at banks and hedge funds to making the leap to full-time content creation. Eric opens up about the intense and sometimes toxic work culture in finance, offers a peek into the hedge fund world, and explains some of his thoughts and strategies in Crypto.Timestamps00:00 - Introduction and Eric Pan's background01:08 - Transition to full-time content creation02:17 - Eric's journey in finance and crypto03:27 - Experiences in traditional finance04:17 - Explanation of AML and KYC05:09 - Worst job experiences in the bank06:06 - Toxic work culture in finance07:17 - Explanation of buy side vs. sell side07:57 - Working with billionaires in hedge funds10:10 - Purpose and greed in hedge funds10:37 - Qualifications for investing in hedge funds12:13 - Hedge fund strategies and long/short explanation14:13 - Use of Bloomberg Terminal in hedge funds15:07 - Example of satellite imagery in hedge funds17:32 - Pressure and stress in hedge funds20:10 - AI in finance and hedge funds21:13 - Transition from hedge funds to crypto24:08 - Qualified custodians in crypto25:27 - Importance of qualified custodians26:32 - Edge in crypto investing27:01 - Crypto VC investments and risk tolerance29:17 - Eric's personal crypto allocation32:39 - Crypto market volatility33:19 - Passion for educating and content creation34:41 - Goals and measuring success37:15 - Building a business in content creation38:18 - Fire round: Investing advice for beginners39:52 - Investing in 202441:08 - Travel plans and points usage42:32 - Japan travel highlights44:04 - Culture and safety in Japan45:53 - Stocks and crypto investments for July47:10 - Final words and closing remarks

"Every Canadian wants to go to the States!" - Erwin Szeto

Hey everyone! Welcome back to another episode of Wealth Busters! Today, we've got Erwin Szeto, a top real estate investor and podcast host, joining us to chat about the ins and outs of the real estate game. We dive into everything from the challenges of being a landlord in Canada to the exciting opportunities waiting in the US market. If you're looking to get the scoop on smart investing, this episode is for you.

"I was Homeless and Now I am a Real Estate Millionaire" - Ray Glymph

Join us in this inspiring episode as Ray Glymph shares his incredible journey from facing homelessness to owning 140 doors in real estate. We dive deep into Ray' strategies, setbacks, and successes along his path to becoming a real estate mogul.Timestamps 00:00 Introduction and initial question about becoming homeless.01:14 Continuation of the discussion on the backstory of becoming homeless, impact of 9/11.02:28 Discussion on escaping homelessness, first jobs, and the start in real estate.04:15 Conversation on financial strategies and pitfalls in real estate investment.06:38 Strategy for maintaining a W-2 job and investing in real estate.08:46 The challenges of running restaurant and bar businesses alongside real estate.10:35 Overview of managing 140 doors and real estate strategies without partners.10:51 Opinions on joint ventures and syndication deals in real estate investing.13:13 Discussing the secrecy of a new deal and strategies in real estate capital raising.15:37 The considerations and challenges of managing a large-scale real estate deal.17:51 Recounting a previous real estate deal and the strategy behind it.19:50 Benefits of triple net leases in commercial real estate.20:11 Discussion on the analytical approach to real estate deals.22:36 Specifics of managing a mixed-use property and tenant relations in West Virginia.24:59 Financial outcomes of the discussed real estate deal and cash-on-cash returns.27:25 Advice on managing properties with negative cash flow.29:16 Reflections on real estate investment strategies and the importance of managing debt wisely.31:41 Further advice on real estate investment and managing challenging properties.34:05 Discussion on Airbnb and short-term rental challenges.36:08 The operational and financial realities of managing Airbnb properties.37:08 Concluding thoughts on real estate investment and the importance of good deals.39:32 Strategies for balancing growth and stability in real estate investing.41:48 Discussion on navigating the current economic climate in real estate.43:33 Closing remarks and where to find more information.

"I Made $10,000,000 with Airbnb Arbitrage" - Humza Zafar

Humza Zafar is the latest guest on the Wealth Busters PodcastHumza has a an incredible story from being unemployed to running an 8 figure Airbnb Arbitrage business in a couple of yearsI today's episdoe Hamza explains the strategies and mindsets he used to get where he is today as well as advice for investors in the Canadian Real Estate market Timestamps 0:00 - Introduction and Revenue Insights  0:56 - Welcome to Wealthbusters Podcast  1:30 - Guest Introduction and Background  2:30 - Journey from Canada to the U.S.  3:10 - Scaling the Airbnb Business  5:33 - Insights on Airbnb Industry and Competitors  7:57 - Financial Strategies and Managing Overheads  10:18 - Importance of Profitability and Business Growth  12:40 - Case Study: Moving Furniture and Restructuring Portfolio  15:00 - Class A vs. Class B/C Properties  17:18 - Challenges and Opportunities in Airbnb Arbitrage  19:40 - Utilizing Fast Income for Long-term Investments  22:07 - Case Study: Buying Property in Dallas  24:21 - Alternative Rental Models like PadSplit  26:40 - Strategy for High-End Airbnb Clients  28:46 - Canadian vs. U.S. Middle Class  31:01 - No-Party Policy in Airbnb Business  32:43 - Quitting the 9-to-5 Job  35:08 - Traveling and Living in Dubai  37:33 - Insights on Airbnb Business in Dubai  39:52 - Focus and Expansion in New York  42:20 - Starting Airbnb Arbitrage in 2024  44:45 - Selecting Profitable Cities and Locations  47:09 - Business Credit Card Recommendations  49:32 - Interior Design and Furnishing Tips  51:53 - Overview of New Coaching Program  54:20 - Conclusion and Future Plans

"Formal Education will Earn you a Living, Self Education will Earn you a FORTUNE!" - Jeff Wallis

Jeff Wallis is the latest guest on the Wealth Busters PodcastJeff is a 20+ year Sales Expert and we touched on a variety of things such as- How to Dominate in Sales- How Jeff has been using Stock Options to speed up his retirement goals- Investing in new assets for the first time in your 40’sTimestamps Introduction of Jeff Wallace - 00:52Discussion on Career Transition and Sales Experiences - 03:15Jeff Discusses Sales Role and Income Potential - 05:35Questions on Sales Strategy and Income Details - 07:41Detailed Discussion on Compensation and Sales Expectations - 08:20Hiring New Salespeople and Traits to Look For - 10:15Career Advice and Sales Strategy - 12:41Jeff's Approach to Sales and Strategy for Success - 14:59Investing Strategy and Retirement Planning Discussion - 17:17Reflections on Sales and Investment Strategies - 19:41Jeff's Personal Investing Journey and Strategies - 22:06Discussion on Financial Independence and Investment Shifts - 24:26Investing Insights and Real Estate Discussion - 26:40Real Estate Strategies and Income Streams - 28:55Reflections on Investment Strategies and Starting Late - 31:13Challenges in Investment and Real Estate - 33:32Advice on Investing and Career Planning - 35:46Jeff's Experience and Learning in Stock Option Investing - 38:04Detailed Discussion on Stock Options and Investment Growth - 40:19Jeff's Reflections on Stock Option Success and Strategy - 42:41Future Plans and Investment Goals - 44:46Closing Remarks and Reflections on Financial Education - 47:03