Arnold Schwarzenegger Teaches You the Difference Between Spending and Investing Money
… and why you should buy income property before you buy a house.
As you might know, I’m a podcast fan.
On YouTube, I love to listen to bestselling author Tim Ferris’ (The 4-Hour Workweek) podcast.
Moreover, I’m a huge fan of Arnold Schwarzenegger.
Most people don’t know that Schwarzenegger got rich by investing in real estate.
In the episode I’m listened to, Tim Ferris asked Arnold:
Did you buy the six unit appartment building before you’d ever bough a house?
Schwarzenegger answered:
(…) I would not go and buy a house first before I buy income property. This is what I always recommend people.
For Arnold, that’s the key.
He adds:
(…) to me it’s much more important that when you buy your first real estate to buy a rental appartment. This is an income property.
The difference between spending and investing money is pretty clear
(…) when it comes to real estate if you invest wisely (…) its never called spending money…
