The 3 Stages of Wealth Creation

[@sarahofer4368]

Patience: hang in there and keep calm even when the market is stormy.

[@robertspencer5219]

An alternative to house hacking is to buy a fixer-upper and live there during the renovations then sell and repeat. You also could rent it out and move to the next once you could afford that choice. If you have no control over your spending no income level will be enough ie; US Federal govt.

[@NextLevelLife]

The fixer-upper approach is definitely another potential option for the right person/situation :)

[@chriskimsey9605]

Shout out to Scott! I think his book set for life is highly underrated.

[@Kalarandir]

Fascinating! I am happily entrenched in stage 1 with no reason to move on to 2 or 3. I got my housing costs down to 20% of my budget, my travel down to a 5-minute walk from work and savings rate to about 50%. Now I am very happy and feel extremely wealthy. I have never heard of Scott, but his ideas are solid.

[@NextLevelLife]

That's awesome, Brian! Sounds like you're in a great spot (financially and otherwise). Keep it up :)

[@worldview2888]

I am not in the best situation. I just come in to say thank you for making this video.

[@TheFinancialIndex]

Great video as always 👍🏼

[@NextLevelLife]

Glad you enjoyed it :)

[@martainroth2588]

The 2 stages of wealth creation; 1. Figure out how to make something or purchase something for a small amount that you can sell for a large amount. 2. Find a bunch of people who will sell your items for a small wage so you can keep most of the profits.

[@hannathehappynomad]

Oh wow I just found out this is Scott from Bigger Pockets! That's why the voice is so familiar.

[@theprojectsguy]

How do you create those animations? They are really great, I would really like to know the process involved in making those! Can you make a video about that or just point out briefly, how you make those! I would appreciate that a lor❤

[@NextLevelLife]

By using a whiteboard animation program. In this case Videoscribe.

[@theprojectsguy]

@@NextLevelLifeThanks for the feedback! Two more thing, is it a paid program and can you do it on your mobile device?

[@ovispeech]

Great advises!

[@NextLevelLife]

Thanks!

[@AnthonySmith]

comment for the algorithm

[@hrhsophiathefirst4060]

I enjoy listening to Scott and Mandy on Bigger Pockets, although I am not currently a real estate investor, I was in the past and I would like to do so again when the market/personal funding allows. A duplex is the ideal scenario for 3-5 years to stack basically 70% of my income. Great video!

[@NextLevelLife]

That would be an excellent position to be in savings-wise, for sure! Thanks for sharing :)

[@jrb1737]

❤️

[@bluedouchemark4685]

1) Donald Trump 2) Joe Biden 3) wtf