In this 2024 election year, there is a lot happening in the real estate market. There are great opportunities to thrive in this market, but you must be willing to take risks to make that happen.

In today’s WealthBuilders Podcast, “Faith and Real Estate Investing: How to Trust God and Take Risks” vice president and host Karen Conrad Metcalfe welcomes seasoned investor and attorney Bill Bronchick to the show to share the strategies you can use to take advantage of the current market. Click here to listen to the podcast or read the shownotes below.

Shownotes:

• Real estate investing is unique compared to other markets like gold, commodities, or stocks because investors have more control over the value of their properties.
• Unlike stocks, real estate can be purchased at a discount, such as in situations where sellers are in distress due to various problems like divorce, illness, job loss, or inability to maintain the property.
• Now is a time for believers to step up in real estate ownership, as foreign and corporate entities are increasingly investing in properties.

The Philosophy of Problem-Solving in Real Estate

• Real estate is viewed as a problem-solving business where investors aim to help people with property-related problems while also making a profit.
• A core principle in this business approach is to ensure the property seller is left in a better position and that the deal is profitable for the investor.

Prospering with Purpose and Biblical Values

• Prosperity aligns with biblical values, and there is no conflict between being a blessing to others and making money in the process.
• The concept of blessing is connected to the covenant made with Abraham, Isaac, and Jacob—a covenant of promised prosperity.

The Importance of Patience in Finding Real Estate Deals

• Patience is crucial when seeking the right real estate deals; not every deal needs to be perfect.

Real Estate as a Generational Legacy

• Real estate can be regarded as a legacy for future generations rather than just a means for immediate financial gain.

Understanding Fear and Anxiety in Investment

• Fear and anxiety can immobilize people, especially in the context of investing in real estate.
• The enemy often uses these emotions to prevent action and to fixate on potential negative outcomes.
• Combatting fear involves a focus on what could go right instead of what might go wrong.

Reducing Risks in Real Estate

• Every business carries inherent risks, and real estate is no exception.
• Risk mitigation in real estate involves education, expert consultation, and comprehensive due diligence.
• After preparation, taking a leap of faith is necessary to move forward despite the potential for things to go awry.

Biblical Perspectives on Risk and Faith

• The story of the 12 spies in Canaan (Numbers 13-14) exemplifies the choice between focusing on challenges versus opportunities.
• Just like Joshua and Caleb trusted in God, real estate investors must trust that despite the “giants” like high interest rates and inflation, success is possible with God’s help.

Leveraging Failures for Success

• Failure is a stepping stone to success, illustrated by the story of Colonel Sanders’ persistent efforts before his breakthrough with KFC.
• High-risk maneuvers often result in significant rewards, reinforcing that taking calculated risks is essential for success.

Timing in Real Estate Investments

• The difference between focusing on missed opportunities and capitalizing on the present is a matter of starting now rather than delaying.
• Investors should recognize that different strategies apply in different markets.
• Despite high purchase prices, areas like California can still yield considerable returns through appreciation, akin to Job’s redemption in the Bible.

Real Estate as a Tool for Achieving Financial Goals

• Real estate investment is not solely about the properties but what the investor aims to accomplish, be it income, legacy, or growth.
• Real life examples highlight how real estate can finance major expenses like education without indebting family members.

Did you enjoy reading these shownotes? Listen to the entire podcast episode here.

Learn more about how to start and scale your real estate portfolio at our upcoming WealthBuilders Real Estate Workshop! This hands-on event will teach you how to become a successful real estate investor with buy-and-holds, vacation properties, fix and flips, tax liens, wholesaling, and more. Click here to learn more and register.