Why A Solid Personal Finance Strategy is Key to Successful Real Estate Investing

In this episode, @thefinancesavior shares how getting a solid grip on your personal finance strategy can translate into growing your real estate portfolio in the most efficient way. We cover everything from boosting income, tax benefits - like the 1031 and 721 exchange, diversification, using other people's money, and hedging against inflation. Check out Salvador Bentolila at: https://www.thefinancesavior.com https://www.instagram.com/thefinancesavior/ ---- Transcript Before we jump into the episode, here's a quick disclaimer about our content. The remote real estate investor podcast is for informational purposes only and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.   Michael: Hey, everyone, welcome to another episode of the real estate investor. I'm Michael Albaum, and today I'm joined by my co host, Tom Schneider, and a very special guest with us, Salvador Bentolila, and he's gonna be talking to us today about his real estate investment journey, personal finance, and how he's married the two into his own personal coaching business. So let's jump into it.   Michael: So Salvador, thanks so much for taking the time to hang out with us today. Really appreciate it.   Salvador: Yes, thank you so much for having me. So we're looking forward to this conversation? And, yeah, I mean, hopefully, it's gonna be a productive and helpful topic for everyone, in terms of the intersection between real estate and personal finances.   Michael: I don't doubt it. I don't doubt it. So I know you and I kind of go back because you're a member of the Rootstock Academy. But for all of our listeners who might not be familiar with your story, your background would love for you to kind of bring everybody up to speed about how you got involved in real estate, which and what you're doing now, because you're kind of doing some interesting things.   Salvador: Yes, yes, absolutely. So personal finances has always been a topic of interest for me. And it kind of accelerated accelerator when I moved to the US. About six years ago, I started realizing how complex the system is here, it can get complicated, very quickly. So I started, I started reading a lot, taking courses helping friends and family. And over time, as I you know, I still work at my regular day job and started to get to know more people and eventually, you know, personal finances is one of those topics that usually comes out in, in conversations. And I started realizing that it's often a topic that people are not so much familiar with.   And, you know, I'm not here to blame anyone, because it's something I didn't know either, something that isn't regularly taught in schools. So recently, in the last couple months, I started to develop this coaching program for personal finances where my goal is just to educate people about all the different topics that go around it. So things like very basic things like how to create a budget, how credit work, how to pay off your debt, how to minimize your taxes, how to invest your money. And, you know, there I cover all of the different, let's say, investment classes from stocks and bonds, and real estate and commodities.   And a little bit also more about my background, then no real estate is also something that through the Roofstock Academy, that I started recently getting involved with about three years ago. So it's a topic I'm super enthusiastic about. And when I started this, this coaching program, I saw there was a nice intersection, which is what we want to speak about today.   Tom: I'd love just for context, telling everybody kind of, you know, what is that? What is the regular day job? And is that still going on? And just to give a little more context?   Salvador Yeah, sure. So I