Having been in the foster care system, Gena Lofton had a fear of being homeless. In her mind, the only way to elude such a circumstance was to own the land herself. Motivated by this fear, she focused on financial freedom – having sufficient passive income that covers all of her living expenses. Fast forward and she has achieved her goal after acquiring over 4,000 apartment units and other passive income assets. On this episode, she shares her inspiring story, her formula to financial freedom through debt and reducing taxes, and the key places to invest.
Key Market Insights
Grew up in the foster care system in Southern California, which created a fear of being homeless
Learned why passive income is important after reading Rich Dad, Poor Dad
Transformed many Fortune 1000 companies while at Ernst and Young management consulting
Shareholder of DirecTV for nearly a decade
Sold DirecTV to AT&T for 48.5 billion
Author of Escape the Madness! 10 Steps to Get Out of the Rat Race
Founder of Passive Income Advisors (PIA)
PIA: helps high-income individuals achieve financial freedom faster with “The Financial Freedom Formula F3” method
“The Financial Freedom Formula F3”: A method to replace higher taxed income with tax-efficient passive income through debt and reducing taxes
Get started in real estate: Read real estate books, look at real deals, understand the number (property’s cost, value, etc.)
Started buying properties in 2009-2010, left the rat race 2-3 years later
How to create passive income with no money: Leverage debt
Key Places: Near major transportation (including airport and metro line), commerce hub, new developments and attractions
Inglewood, California: Five miles east of Los Angeles International Airport and near Alameda Corridor
Locations near Dallas/Fort Worth and Federal Express
Investing in value-add real estate: Increase income for the sole purpose of getting new debt and getting all of the investments back
Presently investing in natural resources due to the lower prices up to date
Bull’s Eye Tips:
Winning Your Market: Look for diversification in industry. Do not go into an area with only one industry.
Daily Habit: Meditate
Tracking Marketing Changes: Stay actively involved with the apartment association that you invest in.
Escape the Madness! 10 Steps to Get Out of the Rat Race by Gena Lofton
Rich Dad, Poor Dad by Robert Kiyosaki
Plunder by Mark R. Levin
Stansberry Research Newsletter
Tweet This: “Fear will either motivate you or paralyze you.”
“Pioneers get slaughtered, settlers make a fortune.”
Places to Grab a Bite:
Connect with Gena:
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