The 3 Principles of Successful Investing, with Clint Coons

Our guest is Clint Coons, attorney, real estate investor, speaker, and author. In this conversation, we talk about the 3 pillars of successful investing. We learn about how to protect your assets, how to minimize your taxes, and how to plan your business thoughtfully.

If you’re ready to take the leap and triumph in real estate investing, then this episode is for you!

Learn more about Clint and his journey at reiclarity.com!

“Real estate investors have to understand that there are more ways to make money than just that one little slice that they’ve convinced themselves.”

03:09

Clint’s father was a single-family real estate investor and he learned the basics of the industry from him. Clint wanted to do real estate investing to have passive income and eventually reach financial freedom.

According to Clint, one of the biggest mistakes that investors are making is overanalyzing deals. The best way to combat that is to make sure you have multiple exit strategies.

“You need to appreciate the risk, and then put together a structure or plan that is going to mitigate that.”

10:42

Clint shares his 3 principles about successful business planning.

  1. Asset protection.
    Appreciate the risk and prepare for it. Have the right insurance policy and know what’s covered in your policy and what’s excluded.
  2. Tax planning.
    Don’t focus only on reducing your tax burden. Not paying federal income tax limits the amount of money you can borrow and the loans you can get long-term. He explains the importance of forming the right entity and why having a C Corp is better than an S Corp.
  3. Long-term business planning.
    Educate yourself and find a mentor who understands your goals. When an opportunity presents itself, don’t just think about what it’s going to cost you but what it’s going to do for you.

Clint explains that a common mistake that investors make is that they only focus on one or two of these principles.

“Find those people that are doing what you’re doing, but they’re doing it better.”

43:40

At the end of the episode, Clint picks an action step from the REI Clarity Framework that is the most valuable to him. This is “Build a Team”.

Building his team was the most important aspect of Clint’s success in business. He explains that there is high-value and low-value work, and people are often trapped with low-value tasks. It’s important to be able to outsource these tasks and focus on high-value work.

Mentioned in the show:

  1. https://andersonadvisors.com/
  2. His LinkedIn
  3. www.shineinsurance.com/reiclarity
  4. The REI Clarity Framework

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity

Special thanks to Clint Coons for taking the time to share so many great insights with us

 
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Until the next time, We truly appreciate you listening.

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