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Jaspreet Singh’s Secret to becoming a Real Estate Millionaire

Minority Mindset has seen rapid growth on YouTube in such a short time. But there’s a reason! Jaspreet Singh has taken his years of entrepreneurial experience from high school businesses and college side hustles to his ventures in Real Estate, YouTube, and various other investments.

Join Ken McElroy, Danille, and Minority Mindset’s Jaspreet Singh in a discussion about their journeys to a million dollars, and how it’s much harder than it may seem. 

Ken McElroy:
Hey welcome everybody. This is Ken McElroy. We’re with Jaspreet Singh and he has a fantastic YouTube channel and a great, uh, presence on the internet called minority mindset, Jaspreet. Really, really nice to meet you.

Jaspreet Singh:
Wow. Thank you for having me on it’s an honor to be on with you.

Ken McElroy:
Yeah, thank you. I, I, uh, when Danille told me that, um, uh, she reached out to you and you, uh, jumped on, I was excited cause we’ve watched you from, from our side. You know, obviously there’s a few people that we all try to follow on the internet and you’re certainly one of those people. Um, I love how you’ve, uh, been really, really well-rounded on, on, on wealth, you know, and, and you’re very, very, very good teacher. And, uh, I, I watched your videos that I love because we all kind of started the same spot. You know, like our parents have these big, these big ideas for us in years with a doctor and I will look at it the way you said, you know, here’s how you tell success, doctor, you said lots of money, happy, healthy, and marriage all I’ll go back to doctor. I thought that was a pretty funny, uh, so, so let’s talk a little bit about that because I think a lot of people don’t realize the, kind of the pressures that are on all of us, you know, when we’re young and the parents have these, you know, the big plans for their kids. And, and sometimes that’s a lot of pressure.

Jaspreet Singh:
Yeah. I mean, I can only speak for myself. My parents came to this country with very little, my dad had less than a hundred dollars in his pocket when he came to America, I didn’t know the language, the culture, really anything. He knew how to work hard. So he hustled, you know, and when you come from that type of background, you want your kids to naturally become successful. Now my parents, like most people didn’t have any sort of financial education. And so they assumed that the way to become successful is by studying hard in school and by getting a good job now in my household, like many traditional Indian households, that means one thing. Well, I guess you have two options either you become a doctor or you’re a failure.

Jaspreet Singh:
So you got one of two options. And, and you know, when I tell that to people, it’s hard to understand what that means. So I there’s, uh, an easy way for me to explain it. When I was in middle school, I was doing very bad in my English class. I almost failed my English class. And so my dad got me a tutor, but it wasn’t a tutor for the English class that I was on the verge of failing. It was a tutor for the M cat, the medical college admission test, which is a test you take towards the end of your college career. So here I am 12 years old in middle school, and now I’ve got an MCAT tutor to get me ready for medical school. So in like my house, it was either you do something that’s academic to get you ready for medical school, or it’s a waste of time.

Jaspreet Singh:
I played football in high school and I had to fight my parents forever to be able to do that because you know, in their minds, it’s, you’re wasting your time when you have the opportunity to become successful. Like, you know, it’s the whole thing of we came to this country. So you become successful, stop wasting your time, doing all these other dumb things. But what they didn’t understand is, you know, the value that you get from sports and the competitive mindset and the things that you can do outside of the school system. And so that’s kind of what really pushed me to do. A lot of the things that I do now is because, you know, we are not taught this stuff. I went through so much schooling. I paid for a lot of education and yet not a single time when I was in school, did I learn anything about investing or building wealth or what it takes to become financially free? And yet everybody is going through the system with blind eyes because that’s what we’re told is right. And so just keep signing the papers, keep getting those student loans and just keep blindly following the system without understanding what it is that you’re really trying to achieve.

Danille:
Right. Cause that’s the trajectory that you’re supposed to be on. That’s the trajectory for success, right. Is what we’re told.

Ken McElroy:
Danille had a similar story, her parents, right?

Danille:
Oh yeah. I mean, well, I never, I was just a teacher, but I, you know, had to go to school for the four year degree and I became a teacher and I was making more money bartending than I was teaching, but I convinced myself you’re right. Mom and dad, this somehow this 28 grand a year for full-time work is the path for me. Right. Because you can tell all the neighbors, Daniel’s a teacher and you know, and, uh, you kind of have to have that wake-up point, right. Where you’re like, what the hell am I doing?

Jaspreet Singh:
Now You’re a real life teacher.

Danille:
Yeah! Exactly.

Ken McElroy:
Yeah. You know what? This is what was interesting as well for, for Danille. And I had a similar experience, you know, your parents have this, you know, this vision of what they want you to be. And so for you, you actually moved back home because couldn’t barely pay our bills with, you know, call it 30 grand, you know, in a teacher salary and we with rent and everything else. And so then her parents were, uh, then she started bartending and your parents were very disappointed.

Danille:
Right, right. I started bartending again and I was actually making, I mean, for the hours I was working pretty good money. I mean, I was probably making about 80 grand a year on part-time work compared to 30 grand a year on full-time work. And, uh, I remember them being like, we’re just so disappointed, you know? And in my head, I was trying to piece this altogether at, you know, 26 years old or whatever, like, okay, my parents are disappointed, but I’m starting to be able to get caught up on all the debt I got in from making 30 grand a year. So, you know, there’s just this balancing act of what you’re supposed to do. And then what makes sense to do.

Jaspreet Singh:
It’s hard, us hard. You know, for me, it was the same thing. I was an entrepreneur for a long time and I did it all in secret. When I wasn’t starting off in high school, I was hosting teen parties. Cause I started working on the wedding business. Our parents would not approve of it. Like they would be furious. So I was doing this in secret. I went to college, I assumed everybody goes to college to study Friday nights. You’re supposed to be in the chemistry classroom. Cause I didn’t have any guidance. You know, I didn’t, I didn’t know anybody that went to here in the states. So I didn’t know what to expect. I go to college, everybody’s partying a blue and all this money. I’m like, none of you have any money. I couldn’t believe it. So now I’m like, what do I do?

Jaspreet Singh:
Well, I need to, you know, quote unquote, become a doctor. So I had this academic Jaspreet, which my family knew. And then I had this entrepreneur Jaspreet, which was a secret where now I was, I started hosting parties in college. I took my teen party business in high school, brought it to college. So here I was a freshman knocking on doors at every club venue, restaurant bar on campus and asking them, can I host a party here? And I was able to work out deals with them, but it was all a secret. And sometimes it got tricky because I remember one time my dad called me, he’s like, are you doing some sort of event this weekend? I was like, uh, no, I’m going to a show with my friends. Maybe that’s what you heard about. And luckily he bought it, but yeah, I mean, it was, I had to do it in secret.

Jaspreet Singh:
And so, you know, it was two lives that I was living and that’s what makes us all hard. When I started investing in real estate, when I was 19, this is at the bottom of the 2008 crash. I told my dad, uh, dad, I want to, you know, I invest in real estate. I heard that wealthy people do this. I read this in books. He was like, you’re stupid. Go study, become a doctor. And, and it’s just that. Now look, my parents loved the idea, right? Did they love everything that I do that like, teach me more, teach me about real estate investing. They are 110% on board. They love it now. But it’s that hurdle where it’s like, people don’t get it. The majority of people don’t get it.

Danille:
They want you to play it safe. You know, it’s kind of, it comes from a place of love, right? They don’t want you to have to go through all the hardships of starting your own business or investing in real estate or, you know, to them, it’s like, just go be a doctor. It’s so easy. You make six figures. You just have to show up and work for the man. And you’re good to go. So it really, it does come from a place of love. And they’re so proud when you actually cross that line and start making your own money. It’s almost like they’re afraid for you to fail or something like that. So they want you to be safe.

Ken McElroy:
Yeah. When, when did that happen for you? When did your parents? Because you know that transition of, okay. We, we now trust what you’re doing.

Jaspreet Singh:
Yeah. It was kind of funny. So I was running this other business. Uh, it was an e-commerce sock business that I started and my parents didn’t really know about it. They knew I was doing something, but they didn’t know what I was still, you know, doing a bunch of other things. And uh, I was also in school and my parents got a call from one of their friends and they were like, I just saw your son on the news. Oh my God, what did he do now? And if they’re like, no, no, he, he has this business. That’s doing really well. His businesses like making this money and they’re growing really fast. And they were like, oh really? And so like, we were featured in the local couple of the local news stations. And so as soon as that happened, everything switched. Cause now it went from, oh, your son is doing some weird stuff.

Jaspreet Singh:
He’s throwing his life away by not becoming a doctor to your son is on the news and he’s successful and he’s doing something. Right. So as soon as they started to see the success, oh, he’s the one that right now. But before that it was all just, he hasn’t, he’s throwing his life away. You know, doesn’t know what he’s doing. He’s lost his mind. But it was again, like you said, it was all out of love. So, you know, I get it. I know where they come from. You know, they’re such hardworking people. They just, they don’t know what they don’t, people don’t know what they don’t know.

Ken McElroy:
Right. Yeah. And I want to make one big point here before we move on to the next piece, which I’m excited to hear more about. We’re not talking about education. You know, that’s a, there’s a big difference because I know to be an entrepreneur, you got to pour yourself into education around how to be that. And so what we’re talking about is chasing that degree through a structured program, you know, like so many others and trying to fight those forces that you know, that, that both the university system and the public school system, and even our parents have ingrained in their minds for so long. Right?

Jaspreet Singh:
Absolutely. I mean, we say that education is the backbone for success. The question is where do you get that education? And I think people really started to question it in 2020 when the pandemic hit, because you have people paying 40, 50, 60 grand a year to get a degree from a big name college. And then all of a sudden, one day now you’re just watching your classes on a zoom call and you’re paying the same 40, 50, 60 grand a year to watch these classes. And then you might not like your teacher, you might not really understand what you’re learning. And then you go onto YouTube and you can learn something that you want to learn from a teacher that’s actually doing what they teach and you might actually enjoy it. And it doesn’t cost you a penny. Yeah.

Ken McElroy:
Yeah. It’s like, I need clarification. So I’m going to go to YouTube and get clarification from my university. Yeah. Thank God for that, honestly, because that’s why I’ve been loved watching you, your minority mindset. I think what a great, great brand and what a great, great message. Because I think a lot of people kind of have that small scarcity, minority mindset just in life. And you know, your, your messages, you know, I especially liked the one where you were talking about, um, you know, physical, mental, spiritual, financial, you know, as it’s like, cause I talk a lot about that myself and it’s it’s um, it’s bigger than just going and finding a deal. And you know, it’s, it’s, it’s about personal development, right?

Jaspreet Singh:
Absolutely. You know, what you mentioned is what I call the Quadro fit theory. And I just, as a concept that I looked at, because you know, people talk about how money isn’t everything, which is right, but you have to know how money plays a part in your life. And I say that there are four parts, four aspects to your life to let you live a happy life at the bottom, you have physical fitness. If you are not physically healthy, if you were on your deathbed, if you are morbidly obese, it doesn’t matter. If you have $10 million. Only thing you care about is being able to breathe and being able to be healthy. So that’s at the very bottom, you have to be physically healthy, then it’s mental fitness. You know, I’m so happy to see that health is finally starting to get some traction in the world because it’s a real thing.

Jaspreet Singh:
If you are struggling with depression or anxiety, it does not matter how financially successful you are. More money will make you more miserable. You need to do whatever it takes to find a way to get people around you. That you love to be happy to have the right people around you. Now I have lost friends because of that because you know, you, you feel like you’re alone, but you just need to surround yourself with the right people. Then you need to be spiritually fit. And this is not religious. This is what is your purpose. What’s the reason for waking up every single morning. What’s your reason for wanting to succeed? You know? And when you have a purpose work, doesn’t feel like work. You love what you’re doing because you are here to accomplish something. When you love what you do is not going to feel like work.

Jaspreet Singh:
Everybody needs a purpose. You got to know what that is. And then financial fitness as well, brings it all together. Because if you do not have financial fitness, but you have everything else will, you’re still going to be miserable because you cannot afford to pay your bills. You can’t afford to take your spouse on that vacation. You cannot afford to pay for your kid’s education or whatever it might be. And now you’re struggling financially. But if you have financial fitness now with everything else, now you have the keys, the four keys to live a fit life. Yes.

Ken McElroy:
I know. I, I always, you know, we have this, I do this piece called be, do have where a lot of people focus on the, have they see the, you know, they see guys like you or me or Danielle and they see, okay, they’ve got all these sings, these rentals as cashflow and, and you know, it must’ve been handed over to him. They focused on the half. And what I always tell people, you got to focus on the be like, who do you want to be? And if you focus on that, then, then it’s just a matter of what you got. What are you going to do? You know? And then we can go down the rabbit hole on this issue. But then all of a sudden you start to have, you know, but if you focus on the B you know, which is that mental, the spiritual piece, the physical piece, the financial piece, and those are all the things that you and I talked about earlier.

Ken McElroy:
They’re not taught. And sometimes our parents don’t even know those. So, and then, you know, as you know, I’m good friends with Robert and I know you love his stuff and he’s been on your show and you’ve been on his show. Um, you know, Kiyosaki, you know, we all come from this place and we have to learn it, why we have to, we have to get there and we gotta be careful on who our teachers are and what we’re listening to and what we’re holding onto internally. And we gotta unlearn and relearn, you know? Right, right. Wouldn’t you agree?

Jaspreet Singh:
Absolutely. I think you’re a hundred percent right on that. I mean, I know, you know, even I used to have that like, oh my God, which people are evil mentality. Uh, I, I don’t know why, but it’s just one of those things that when all your friends around you talk like that, you assume that that’s normal. And you know, growing up, talking about money was not normal in my house. But then you start to think, when you start to ask that question of why you start to think different, you have to question yourself, and this is where you talk about education, knowing your teachers. This is where it’s so hard, but so important at the same time, because you have to be willing to question your own beliefs. And that was one of those things that really allowed me to kind of step away from my small minded thinking, because I assumed that you have to do this one thing.

Jaspreet Singh:
I have to become a doctor. Everything else is wrong. Cause I lived in a bubble. But then you start to, I started by reading books. I read rich dad, poor dad, which opened my mind to something completely different than I read Dave Ramsey’s book, buy something again, completely different. You have to be able to listen, to learn from people with different beliefs. That way you can make an educated decision for yourself. And you know, you’re right. You need to know who your teachers are. But thankfully YouTube makes that a lot easier because now you can listen to people who disagree, listen to different points of view and then make an educated decision. And this is hard now because of social media, where if you believe something, it doesn’t matter what it is. You can go into this deep rabbit hole where that’s all you see, you see that this side is right. This is the only way to think this is the only way you should believe. And if you see your think or here’s something different, it’s stupid, it’s wrong and you should not even consider it, but what you need to do. And what intelligent people do is they learn from the other side that were the understandable sides. And that way they can make an educated decision. You might not agree with me. That’s fine. But at least you’re educated enough to understand why.

Ken McElroy:
Yeah. Right, right. I know so many people listen to people and then try to prove them why their opinions better or, or they’re there, they’re listening, but it’s not really coming in. They’re not really, really hearing and listening. And I agree with you, you know, what’s funny, you know, and with Robert w you know, we study, uh, communism, we studied Marxism, we study, you know, capitalism, we study all those things, and there are pieces in all of those that are good. And, and, you know, instead of just taking this limited view on things, you know, you have to be able to see it from the other person’s perspective. And it’s really, really difficult. But until you do that, you know, as Robert says, there’s three sides to a coin, right? There’s your side, my side and the edge. So if you can stay on the edge, then, then I think what happens is your mindset’s a little bit more open.

Ken McElroy:
Um, so, so with that, let’s jump right in to some, uh, you know, some of your recent videos and some of the stuff I’ve done, we just actually did one today, live on inflation, you know, and, and I love you have 100 places in a transitory, and we’re talking about savers are losers and all that stuff that was in rich dad, poor dad, as you know. So, so let’s, let’s jump right in on that. I’d love to hear your view on what you’re seeing from the inflation side. Let’s have a nice discussion around that, because I think this is an important piece because in one year people’s lives can be very different based on the choices they make.

Jaspreet Singh:
Absolutely. And I think there’s a couple of issues going on with inflation. We have two things going on, and if you listen to what the federal reserve bank and the government say, they say that the inflation that we’re seeing is transitory temporary, because it’s all supply chain issues. Now, supply chain issues are there. We have issues. I mean, just look at the ports in California, they’re backed up forever. You have issues getting products into the country. We have a labor shortage. All of these things are contributing to a supply chain issue, but they’re all ignoring the fact conveniently that we saw a massive record amount of money printing in 2020 and 2021. And so what does this mean? What is going on? So we have people in the United States who are using their dollars to buy things made overseas. And these countries overseas are happy and willing to accept these dollars.

Jaspreet Singh:
Well, the question is, where are these dollars coming from? Well, a lot of these dollars are coming from just the money printer from the federal reserve bank. This money gets printed out of thin air people get it. They use it to buy things overseas. People overseas are willing to accept it. And that’s being shipped over to the United States. Now money itself is supposed to be a representation of value. And this is where, you know, it’s very easy to understand that with gold, because gold is a physical representation of value takes time, effort, and labor combined gold versus our dollars are supposed to be representation of value, but it’s kind of an indirect representation because our dollar is not backed by anything tangible. Robert Kiyosaki talks about this, all this all the time. They’re backed by a promise by the United States government, that our dollars have value.

Jaspreet Singh:
And so it’s backed essentially by the strength of our economy and our government. Well, okay, no problem. We have the strongest economy in the world. We have the strongest military presence in the world. We have the strongest government in the world. Fine. The question is what happens if we’re ever challenged as the world’s reserve currency? What happens if we’re ever challenged as the world’s superpower? Because our country and our economy is not growing as fast as some of other countries in the world like China, China’s innovating very quickly. They’re pushing innovation, United States and so on government. And the fed is trying to encourage growth in our economy. Now, you and I might have a different opinion on how to do that, but in their opinion, to grow faster, we need to stimulate more cheap money, cheap dollars, low interest rates. Well, sure. Then that can create a boom in the short term, but we pay the price in the longterm through inflation, because inflation is the devaluation of our currency.

Jaspreet Singh:
As you inject our economy with more dollars, the value of each dollar goes down. And if we look at history any time you start debasing the value of a currency, it to economic unrest, even collapse. I mean, go back to the Roman empire. The currency was based off of silver. And then when the government wanted to expand, it started debasing the silver and paying their employees. That was silver, but now silver mixed with other cheaper metals and the short-term creative boom, because now people have so many more coins, they’re getting paid more, but eventually people started to realize that these debased coins aren’t worth as much as a full silver coin. It’s not, people want more coins. And this ultimately creates more unrest, socially creates more unrest economically. And it led to the collapse of the Roman empire. We’ve seen this again and again and again, right now the United States is that time is at the top. We are the strongest country in the world, the strongest economy in the world, if that is ever challenged. And the dollar is challenged and people start to question what it is that I’m working for. What are these dollars that I’m saving? What are these dollars that I’m earning? And if people start to think that, oh my God, this might not be worth as much as I thought we get are in deep, deep, deep trouble.

Ken McElroy:
Yep. Because it’s based on a promise.

Jaspreet Singh:
Yeah. And that’s, what’s scary. I mean, yeah, this is fine in the short term and the spine when you’re on top, but you can not always be a top. Everything has a lifespan, every country, every civilization, every company, even Jeff basles has come out and said that, that there will be a day when Amazon feels right now, Amazon is on top, but it won’t always be, CEO’s used to be the biggest powerhouse retailer in the world. If you ask somebody about CEO’s two decades ago, nobody would have ever imagined the Sears was going to go bankrupt, but now it’s a ghost town.

Ken McElroy:
Yup. Yeah. And just to take that thought a little bit further, you know, uh, one of the guys, I love all select to fall as Mike Maloney and, and, uh, you know, Mike talks a lot about gold and silver and, and debasing the currency and monetary policy. And, and he told me that in the history of the world, there’s been over 2000 currencies and none of them have ever survived now one wow. In the history of the world. And, and so it’s hard to imagine while you’re in the middle of it, you know, cause you know, the pound, by the way, was the world’s reserve currency in the 18 hundreds. So, um, it’s hard to imagine that this could be happening, you know, because, but I remember as a kid, you might, my, you know, my brother used to have these silver coins in the U S dimes nickels quarters.

Ken McElroy:
And in the sixties, they, they would have these coins that were actually made of, you know, real, real metal. And then, uh, I think it was in the late sixties, early seventies, it kind of transitioned over. So it’s even happening slowly here. And that, and that’s what we’re trying to teach you guys like the, and th this next round of stimulus, you know, what is it, uh, how much are they saying like $3 trillion or something like this? I happened to be flying back with George Gammon last night, actually from Dallas. And, um, I said, what do you think’s going to happen? He said, you know, as this administration continues to throw money into the economy, we’re going to continue to have very, very robust inflation based on to your point, the new model.

Jaspreet Singh:
Right? Absolutely. And you know, my family is from India and India is hard to imagine here because we’ve never seen anything like that. But in India it is a cash based economy and people also really value gold. Uh, and so it is like, uh, people understand the gold is real money in India is it’s kind of just like the way things are. It’s kind of a cultural thing there. And so when somebody gets married, you always give them gold. It’s just like something that you get people to understand that has real value. Now, how, how much do people understand why that I don’t know, but it is what people do. And a couple of years ago, a few years ago now, I think it was 2018. The Indian government one day said that certain currencies are no longer valid. They’re essentially worthless. They’re deemed worthless and people would hoard their cash and their homes.

Jaspreet Singh:
I know my family did the same thing. I mean, everybody knows. It’s just what you did because the people in India didn’t, they don’t trust a lot of the financial institutions. So they kept a lot of the cash at home. So now people were keeping these bigger denominations at home. And all of a sudden, overnight the government came up with an announcement the middle of the night, that if you hold on to these denominations, the bigger denominations of the bills, it is worthless. And so overnight you saw people’s wealth, just skew wiped out because they were holding onto paper. And it’s just like, how do you, how is that possible? Well, this, this it’s a centralized system, right? The Indian government is in charge of their currency. Like in our situation, you had the federal reserve bank and our government, which is essential as system in charge of our dollars, our money.

Jaspreet Singh:
Well, this is where now you have cryptocurrencies trying to be decentralized and you have people move into things like gold as a way to control it themselves, right? It’s a representation of value. Well, if the representation is controlled by somebody else, they can manipulate what their representation is. If you’re holding onto dollars as your representation of how wealthy you are. Well, it is in somebody else’s control. Now, you know, it’s speaking practically, you know, you have to have dollars to go and buy things. You have to have dollars to go out and spend and invest fine. But now what do you do with the extra cash? Because in our culture, the Indian culture, it’s a save heavy culture. I joke around about this, but Indian people make a dollar to spend 20 cents. American people make a dollar to spend $2, right? I mean, it’s, it’s a different, uh, culture, but you can’t just save all of your money, expecting that it’s going to make you wealthy or that you’re going to be protected because that’s what we’re told, right? It’s the safe route. Like education go into school, become a doctor. It’s the safe route. And now doctors are about to pay higher taxes. They’re the highest tax people in the United States. And probably going to be some of the highest tax people in the modern civilization. And I mean in, in developed countries today. And so yeah, the safe route is saved money. This will, we’re all told, but what happens when that safe route no longer is safe and you’re losing money every single day. You’re losing your value every single day to inflation.

Danille:
Yeah. And you know, when they they’ve been talking about doing this digital dollar, you know, cause, uh, and once that happens, I think that the printing will even accelerate because now you don’t even need to print. You just need to deposit money into people’s accounts directly. Yeah.

Jaspreet Singh:
Uh, yeah. That’s what makes it interesting right now it costs 12 cents to print a hundred dollar bill. Right. In terms of representation of value, what is it going to cost when it’s completely digital?

Ken McElroy:
I don’t know. It’s so very, very true. So let’s, uh, I, I know one of the first things that you do in one of your videos, I, like you said, saving is a big piece. And then, but then you move it into the grow piece, right? There’s a, there’s kind of a, there is a, uh, there’s nothing wrong with saving dollars, but you gotta be thinking about how to put them into use. Right, right, right, right.

Jaspreet Singh:
And there’s, there’s three phases of what I say to being able to become wealthy. You got to know how to save. You need to know how to grow. You need to know how to spend. Now, when I say you need to know how to save, what I mean is you need to know how to live below your means. Because if you’re trying to become wealthy and you make a thousand dollars and then you spend a thousand dollars, you have no money left to pay yourself. So what you need to do is interested at all, how to live below your means that when you have extra cash to do something with it, maybe pay down your credit card debt. Maybe it’s investing in yourself. Maybe it’s building some sort of savings cushion. You need to understand that, you know, savings cushion is there to protect you from an emergency.

Jaspreet Singh:
It’s not there to make you wealthy, right? So why are you saving? But you need to know how to live below your means. This is why, you know, I talk about, it’s not just how much money you make is what you do with the money you make that matters. And it has to be a goal behind it. When I was in school, I was in law school now because when my parents found out it wasn’t going to be a doctor. They said, you need to at least become an attorney. I followed through with that because I knew that if I went to law school, I could go part-time and worked on my business. Full-time. But that was when I started making about a hundred thousand dollars a year. And I was a student now, when I was making that money, um, I was in school.

Jaspreet Singh:
So that’s a lot of money you would need in a school. But I was living in an apartment where I was paying less than $400 a month, which included my rent, my utilities, my cable, my internet, and my gas and electricity, like all our bills, including my parking. So I was spending less than $400 a month. I was sleeping on a mattress in the living room. So I had two roommates. And the reason why I was pants a little is because I don’t even have a room, but the reason why I was doing that, wasn’t just so I could hoard every extra penny just so I could invest it back into myself. I could buy more real estate so I could do more things with these dollars. And so you need to know how to live below your means that when you have the ability to take this extra cash and put it somewhere to use, and once you start to have that extra cash, that’s when you need to start asking yourself, how do you grow it? Maybe you’re investing into your own business. Maybe you’re buying real estate. Maybe investing is somewhere else, wherever, wherever it is that you want to invest that way. Now you can actually build your wealth because you need to own assets. You need to own, it’s like monopoly, right? You need to own things that are going to pay you. You need to own things that are making you money. Instead of just holding onto these little pieces of paper, which are not losing value every single day as inflation drives the cost of things off.

Danille:
And I, and I really liked what you said there, because I think that’s important because a lot of times when people start to make money, they just spend more money, you know? And it’s always like, well, when I make this much, then I’ll start saving. Or when I make that much, then I’ll start saving. And you know, when I started my own business and I started to make more money, I remember even though my business was doing well, people assume that it wasn’t doing that well, because I still drove my 10 year old car. I still lived in my cheap apartment. Cause I was saving for a condo. You know, all these things. And you basically live like your ma you know, I set up, I didn’t change my lifestyle very much. I mean, I gave myself some wins cause you want to reward yourself here and there, but I didn’t go out and just spend everything I was making because I knew that to your point, my long-term goal was to own real estate. And the only way I was going to do that is to save up for a down payment.

Jaspreet Singh:
And this is what’s funny. When I see, you know, on Instagram, you see the 22 year old guys driving the $200,000 cars saying, oh my God, look, my business made six figures or whatever. And it’s like, I remember the first time our business made a million dollars. And I was like, you know, you think that if you made a million dollars in your business, you’re set, I’m sitting here living broke. And I’m like, oh, we made seven figures this year. But yeah, I don’t have that nice stuff. Why? Because I’m reinvesting everything back into the business. Right. And it’s funny because you know, you have these assumptions that if you just make more, you’re all of a sudden you’re set, but then dummies are taken all this extra cash that you make and you use it to buy a bunch of things, which aren’t doing anything. But you’re really trying to just build that foundation. You’re trying to dig deep so you can build hold a higher you’d want to just that freedom is what everyone’s working for. Right. And it’s, do you want the freedom sooner or do you want it later? And the sooner you can buy these assets, the things that take care of you, then now it’s much easier for you to be free.

Danille:
Right. You know, I always tell people, it can either be hard now or it can be hard later. So you either can budget and save and try to get that incoming cashflow now. Or you can wait until you’re retired and you’re still having to work because you never really saved anything. So, you know, it’s going to be hard at some point. And I would rather it be hard early that way I can just enjoy the rest of the ride versus it being perfectly,

Jaspreet Singh:
Keep lending them money compound. Right. That build that wealth.

Danille:
I read a interview that you had. And I had the laugh because when I met Danielle, she had an 86 Honda I

Ken McElroy:
Personally had at her age, I had a Volkswagen Scirocco with high miles. I think you had 170,000 miles or something on yours. And I remember what you said was the worst thing. What’s the worst investment. Somebody has it. You said a car. Right?

Jaspreet Singh:
Right. And, and you know, I, I learned that from high school, man, when I, when I started making money, when I was in high school, I didn’t know anything about money. So I was like, well, okay. I made a little bit of money. I need to invest this in my car. And so I was driving a Toyota Solara, eh, you know, the first thing I did is I put brand new rims on my car. I tend do the windows. I put on hid lights. I put in 12 inch subwoofers. There was a show called pimp, my ride, which I used to watch all the time. And so I was inspired by that. And I was always like, you know, I need to make my car look nice. And it’s where I was putting all my money. But then I started learning and I was like, holy cow, where did my money just gets a money pit.

Jaspreet Singh:
I, and when you realize that it’s like, you go to, for me, I went to the opposite extreme. It’s like, screw the car, just give me something that goes from point a to point B. And you know, you, you put everything towards yourself and you know, it’s, that’s the, you know, right now in America, especially that is like the number one money pit for so many people, they want, you want to have a nice BMW who does it. And so now all of a sudden five, $600 a month that going towards your car payment, you got your premium gas, you have to pay for it. You got your high insurance that you got to pay for it as a per a thousand dollars a month easily. When you could have zero payments, if it does dry something cheaper right now, and then you take that thousand dollars a month and you put it right back into you in a few years, that will really

Ken McElroy:
Start to add up. That’s what you did.

Danille:
Yeah. That’s what I did. You know, I mean, you just slowly chip away at your next down payment on your real estate. And then you buy something that actually gives you that

Ken McElroy:
She had to, she had two rentals, uh, and was driving an 86 Honda. I said, why don’t you get a new car? She says, you know, I want to buy another, I want to buy another rental.

Jaspreet Singh:
Uh, exactly. And then you have your rental space for your car.

Danille:
Exactly. And that’s kind of the name of the game.

Ken McElroy:
That’s a great segue to, you know, uh, I know you do some videos on this and I’ve talked to quite a bit about it. How could the middle class prepare for what’s happening and what are some of the mistakes that people are making right now? I mean, we just talked about the car.

Jaspreet Singh:
The first thing is just get educated, but no one was going on because we all, a lot of people want to live in a fantasy world where we think everything’s just going to be fine, nothing to worry about. Oh, you know, so you got to understand the sure. Hopefully everything will be fine, but let’s prepare just in case things. Aren’t fine. But we already know inflation’s going to happen. I mean, we’re already seeing it happen. If you don’t think inflation is a real thing, then, uh, the not only anyone can help you, but I mean, things are going on. So now it’s what do you do with their dollars? Well, after you have your emergency savings, after you pay down your high interest debts, now you need to really start picking these dollars and putting them to use, take them from dollars and convert them to something real you love real estate.

Jaspreet Singh:
I love real estate. You know, you’re half of the reason why I really got into real estate because you know, you start to realize the power of owning something, tangible, something real. Now it doesn’t have to be real estate. I mean, you got to find what’s right for you. Some people are going to hate the idea of investing in real estate, which is fine. You know, there’s, there’s so many ways to become wealthy. You can invest in businesses, you can invest in stocks. You might be a gold person, silver person. You might be a cryptocurrency person, and you’ve got to figure it out where it is that you want to be. I invest my money in five places, real estate stocks, businesses, cryptocurrency, and commodities like gold. You got to figure out what’s right for you and you have to learn. And then you have to be willing to actually invest and own that thing.

Jaspreet Singh:
There is a chance that you will lose money. You have to understand that and accept that. If you kind of go on with this mentality of always thinking that if I invest, I’m going to get rich or you’re going to be disappointed, and then you’re never going to want to do it again. When you do lose money, I’ve talked about my worst real estate deal ever. You know, when I was getting started, I had no idea what I was doing. I didn’t have any mentors. I kind of just went in and did it. And I screwed up a lot. And I, and I showed it that way. You can see what it looks like when you go through that worst real estate deal. But every real estate investor has a bad deal. Every investor is going to go through hurdles and you have to understand that. And that is your real tuition. I mean, when you make those mistakes, that’s your real life tuition to learn how things work, because you’re not going to have your classroom teach you how to invest in real estate or anything. And so you need to know how to do that. And the way that you learn as you read books, watch videos, you do it. And then you learn from your mistakes. Yeah.

Ken McElroy:
I, I, uh, one of the most surprising things, my brother, who was arguably the smartest, one of in the family from a sibling step where my parents would even say that, uh, I looked up to him and I still do, uh, we’re still very close, but he recently retired and, and uh, I asked him, you know, so how, you know, cause we never really talked about money, you know, as you do. And he said, I don’t know, talking about, well, he’s worked all these years and been putting money away with somebody else. And I just, it blew my mind that somebody like my brother, I was like, wow, like I have taken such an active role in what’s happening. I know. And he doesn’t really even know at retirement age, what? To even ask a wealth manager or a financial planner. And, and he just, I said, how could you work your whole life and put your money away to somebody else? And then just open a statement every once in a while and maybe meet with them once a year. It just, people need to really, really, really get engaged with their own financial future. Wouldn’t you agree?

Jaspreet Singh:
People assume that the 401k is all they’re going to need. Well, before it was social security and pensions, we already know the pensions are blown up. They’re not really a thing anymore. Social security is drying. Um, and so the people who are paying for social security right now, you’re not paying for your social security. You’re paying for somebody else to retire. And so everybody says, oh, well, that’s not a big deal. It’s never going to drop the government. And the fed could just print more money. Sure. They print more money. They give you a bigger social security check, what happens inflation. So now you get a bigger check on paper, but it ultimately doesn’t stretch as far because of all the inflation that it caused. So social security is not going to do it. Your pension’s not going to do it. That’s what we have to 401k and, and fine.

Jaspreet Singh:
You know, it has its place, but this is where so many people soon that I have a 401k. So I’m set. I don’t need anything else. But even the founder of the 401k has come out and said that you should never rely solely on your 401k to retire. He says that it has gone awry because people assume I’m putting my money in my 401k. My employer’s matching me. What else do I need? Oh my God. And most people, I forget the statistic, but it’s the majority of people who are investing in the 401k at, I think it was above 90%. Have no idea what the 401k is costing them because they don’t know that the 401k has a fee. And everyone listening to this was a 401k might be thinking. But what do you mean? I’m not paying a fee for my 401k. Yes you are.

Jaspreet Singh:
Yes, you are. Your money manager takes a cut. And if you don’t know how much you cut is chances are, it’s probably a lot. And so, you know, you cannot just simply rely on that one thing. You have to invest your money yourself. You have to get financially educated. If you really believe in the 401k, you want to have it fine, but you need to do more than that. And you know, we run into debates in our channel about the 401k because you know, we talk about, okay, so you’re going to have to pay taxes on your money, whether it’s now or later, if the 401k, if you give a Roth, you’ll pay it. Now, if it’s a traditional, you pay it later. And then we talk about what’s going to potentially happen with tax rates. Our national debt is growing very fast. Something is going to have to happen.

Jaspreet Singh:
And there’s a high chance that we’re going to see higher taxes. We’re already seeing, um, president Biden talk about raising taxes. It’s not a surprise. I mean, these things are probably going to happen. And so if you think tax rates are going to go up, would you rather pay taxes? Now when they’re lower or later when they’re hired and then people make the argument put up, plan on having no income when I’m older. Well, what the heck are you working towards? Like, you know, like if that’s what your mindset is that you you’re completely broke and you’re thinking, why would you want to have no income? When you’re older, you should be thinking, I want to have more income each and every year. And so it’s, you have to understand what are your goals. If your goal is to have no income when you’re older than this is probably not the right channel for you, this is probably not the right advice for you.

Jaspreet Singh:
But if it’s then thinking about how do you not grow your income each and every year and build wealth, serious wealth. So you can afford your dream lifestyle and you need to understand what is it going to take for you to do that? Now we can use money today. And if we talk about texts breaks, well guess what real estate provides some of the best tax breaks, legal tax breaks for investors that our entire tax code has to offer. So there are so many different things that you can do, but you have to figure out what it is that you want and figuring out what is the right vehicle to achieve that

Danille:
One. I think that’s interesting. You said, you know, people don’t plan on making any money once they retire, right? Because I think people think that like, well, when I retire from my job, I just will never work again. And truthfully, I mean, I guess maybe that’s their dream, but depending on what’s in their 401k, how the markets are doing at their time of retirement, what their lifestyle’s like, and people are living a lot longer. You’re not going to be able to just solely live on your 401k. So you may be working, but instead of having to go be a greeter at Walmart, it would be better if you built something that actually paid you, nice residual income throughout your retirement.

Jaspreet Singh:
And this is what we talked about. You know, we talked about the quadrant fit theory, being spiritually fit an uncle of mine. He was an engineer, worked for decades, retired and had nothing to do with his life. He didn’t know what to do. So he went and just sat on the sofa all day. It went from this healthy, you see, you know, in his mid sixties, but it seemed like a young man, you know, he was healthy working out. And then all of a sudden he sat on his sofa every single day. And a year later he was depressed. He was gaining weight. He was unhealthy and he was miserable. He didn’t know what to do because now all of a sudden he had nothing to do. And this is, and this is a real concern where it’s not just financially. It’s what is your purpose?

Jaspreet Singh:
And you have to know that. And you know, the great thing about our time now is you can align your purpose with some sort of income now that when you’re doing something that you love. And even if you don’t monetize it, if you have your other assets that are taking care of you fine, but you need to know what is it that you want to do? Because if you just find out, sitting on your butt, watching TV all day, you’re not, you’re going to be miserable. That’s what people say. The sooner you retire, the sooner you die, it’s it’s, you have to have a purpose in life. And I think all entrepreneurs never had this idea of retiring because they don’t like the idea of not working because they love what they do. And you have to find what it is that you want to do. You don’t got to start your own business, but you need to have something and if it can produce income even better.

Ken McElroy:
Yup. Yup. For sure. So let’s, let’s shift over to the housing market. I know we both done, you know, kind of some predictions and I know we, uh, follow a lot of the same stuff. I’d love to hear your perspective on where you think things are heading. I know we just finished up this forbearance, you know, we’re, we’re starting to see the faults, uh, pop up. I talked to a guy over the weekend, who’s an appraiser. Who’s who, who is actually starting to appraise now for banks, which is very interesting, uh, as opposed to people that are buying. So where do you see this housing market heading?

Jaspreet Singh:
So we have different factors now compared to 2008, we don’t got the same ninja loans. We don’t get the same subprime mortgages, the same 0% or 105% loan to value loans that we saw back then. But what we’re seeing now is we have, like you were saying, just Zillow used to be in the business of buying homes, trying to flip them and sell them for a big profit. You know, they weren’t doing a lot. They were trying to just do a little bit of cosmetic work and trying to flip them for a profit. But they came out and said that they’re stopping that business because they’re worried about the housing market and they cannot sell the inventory that they have. Then we’re starting to see an uptick in foreclosures, which makes sense. We had no foreclosures last year. Now we’re seeing a lot more, but compared to pre pandemic levels, it’s still relatively low.

Jaspreet Singh:
We have a housing market. Slowdown. People are looking at the housing prices and saying, I can’t afford this anymore. So they’re walking away while more home inventory is hitting the market. So we’re starting to see a housing market. Cool-down now the question is, where do we go? Are we going to go down? Are we going to go sideways? Are we going to kind of just go up slowly? Well, the risk factors that we have now are different in the sense that if we look at just the housing market in a bubble, it doesn’t look as bad because yeah, we have some issues. Home prices are really overvalued and people’s incomes are not rising with home prices, which is not good. But compared to what we saw before 2008, it’s not as bad as that. But the bigger issue is the economic factor. Everything that we’ve just been talking about with inflation and potential economic slowdown and stagflation.

Jaspreet Singh:
If that continues, we see a slow down in the economy. People don’t have jobs, then how are they going to afford their mortgages? How are they going to afford buying another home? And if that happens, well, then now you do have another real estate slowdown not caused directly by the housing market because indirectly through the economic market, because people don’t have the means and the ability to afford these crazy home prices. And you know, you have to think about it, like in full prices are growing like this and wages are only growing like this. There’s going to be a point where people are not going to be able to afford homes because people just can’t the wages aren’t growing with it. I mean, back in a couple of generations ago, it was a one income household that supported everything. A guy went to work and the woman stayed home was not saying it’s right.

Jaspreet Singh:
This is what it was. And that income was able to support buying a home and everything else. Now we have two income households. You’d think that people are wealthier now than before, but they’re not. They’re struggling more. Now when people are talking about not just having a two income household, but you have two incomes and a side gig in order to, to afford this. And when is it that people are going to get tapped out as the price of things keep growing, because it’s not just the housing market, it’s the price of everything. Everything that keeps growing and what’s interesting to me, we talk about risk factors. You know, I like to ask all I’m a banker friends. Like I was the housing market. Are people still buying homes? Like crazy, just to kind of see what they’re saying and what I’ve been hearing more is yeah, it’s slowed down, but you know, people are still buying homes and people are, are taking out these, uh, the adjustable rate mortgages to help out with these interest rates.

Jaspreet Singh:
I said, what are you talking about? And they’re like, yeah, you know, they don’t want to lock in at 3% for 30 years. So instead they go into arm for five years and locking in, you know, 1.9, 9%. I was like, you’re saying people can’t afford a 3% mortgage. So they’re going to have an arm, an adjustable rate for a, you know, 1% less. And that’s, what’s scary. And I actually recorded a video today on that. And as I was recording the video, I got an email from ally bank marketing email saying, uh, adjustable rate mortgages are here for jumbo loans. So we are here to help you with that. And that’s, what’s scary to me because now, as we’re seeing the market slow down, what is going to happen, that is out of our control. Are we going to see more risky loans? And if so, what is that going to lead to? If you’re taking an adjustable rate mortgage right now, when you can lock in a 3% mortgage, what is going to happen in five years? And the email says, don’t worry. You will be able to refinance in five, seven or 10 years. I mean, this is like something I screenshot it. I was like, you gotta be kidding me. Like, did we not just see this exact same marketing happen 12 years ago, 13 years ago. So that’s my concern,

Ken McElroy:
Right? You can refinance your home as long as your credit’s good. Your income’s good. The home is worth what you’re refinancing it for, et cetera.

Jaspreet Singh:
As long as home prices keep going up, you can refinance

Ken McElroy:
And folks like, but you like, if you want to see where, you know, this is what we call a red flag. Like, like if you want to see where a bank or bank wants you to, to borrow from this is a red flag, this is a adjustable means that it goes up and down based on the terms of the loan fixed of course means you’re hedging inflation all day long. So a lot of, most of the people, unfortunately, as you know, they’re going to, they’re going to pour their money into these because it’s going to be a lower payment and they’re going to pay, it’s going to be a short term deal and they’re gonna pay for it later. Right?

Jaspreet Singh:
Absolutely. And this is unfortunate. You know, we have, we assume that your home can only go up that your home is an asset that will make you wealthy. It is the thing that can drive prosperity homeownership. And sure. If your home value goes up, it can make you feel wealthier. But at the end of the day, it is the place that you live. And what happens at home prices go down. Now your asset turns into a money pit. And even between the time between you buy it and you sell it, you’re going to want to renovate your kitchen and renovate two bedroom and upgrade the basement and, and upgrade the yard. All of these things just keep sucking money out of you. And that money, it could be used to buy a rental property, which is paying you every single month. And you do these renovations, you get a tax break for them. So it’s, it’s, there’s nothing wrong with owning a home, just make sure you can afford it, especially in markets like this.

Danille:
Yeah. And you know, we actually were talking about that today on our show earlier on, you know, how rental prices are going up exponentially as well. And then if you can lock in that fixed rate debt, um, it may be worth it for you, especially if it makes your a monthly payment cheaper.

Jaspreet Singh:
Yeah. And exactly. But the, the one concern that I would have is just make sure you’re not overpaying because I was looking at some properties. I was in Texas, not too long ago. And there was properties being marketed as, you know, one caps 0.5 taps, 1.2, five caps, meaning they’re 1% returns on your money. If you invest a million dollars cash to buy a property, you’re going to make $10,000 a year. And the whole sales pitch is don’t buy the property based off of today’s rental values. Assume that rental prices are going to go up by five to 10% a year, every single year. So in three years, you’re going to be in the green. You’re going to be making so much money. I don’t like that type of speculation. I don’t personally like to invest based off of what rents are going to be in three years of five years, because what happens if that doesn’t happen?

Jaspreet Singh:
What happens if the economy slows down? So yes, you know, buying real estate investments is great, but what I’m doing is I’m just being picky. And I’m making sure that when I buy properties, I’m buying them based off of today’s rental prices, not next year or the year after that. And then, uh, you know, what that does is that allows me to price in a potential decrease. If we do ever see an economic slowdown, you, I can’t predict the future episodes down and we have to cut rents. I don’t want to be the person that’s not paying the price. I want to make sure that I factor that in there. So if we see upside great benefit, and if we see downside it’s okay, I projected that. I’m ready for that.

Ken McElroy:
Yeah. I always like to say trust, but verify. Right. You know, uh, I, I put that in my book, the ABCs of real estate investing, but I’ll tell you a funny story. Um, my partner and I, we decided that we, we had a property in Houston, Texas of all places that that was just okay. It was kind of flat rents and, you know, we manage it by the way. So we were trying to force some value through capital improvements and things like that. And we just couldn’t move the needle, our own management company, we’re trying. And we, we went and upgraded some units and we, the market was saying, Hey, we can’t get any more rents. So we said, listen, we’re we have a lot of equity. Let’s sell it and move that money, philosophy and money into something else. It was a small property, like 150 units.

Ken McElroy:
So, which also drove the expenses a little bit higher as you know. So, so, um, so we, we listed it and we S uh, it went out to market and, uh, went into escrow, which we were happy with. So we’re on the phone with the potential buyers and we, we get it into escrow lo and behold, you love this. I get the, I get the business plan from the buyer. So now I’m the seller, but I’m also, they’re pitching me to invest in it, uh, into their fund, which is buying this property. And so I, I opened the business plan and of course it says, look at these great increases. You’re going to be able to get in rent. Look, we’re going to be able to save on expenses. You’re going to be able to, we’re going to upgrade all the units. And then this is a property I own.

Ken McElroy:
And they’re pitching me as a, uh, you know, yeah. It was the greatest, that’s all my partner. And I were laughing. We open it up. And to your point, you know, you can, anybody can say anything, uh, and sell the future because if it’s in the future, it’s actually not a lie. Right. So, but it doesn’t mean that it’s going to happen. And so you have to trust, but verify the data inside of a business plan or a, from a seller or from a broker, you can’t just buy something and expect that it’s going to work out of producing the returns that you think, right. Absolutely.

Jaspreet Singh:
Yeah. It’s, it’s, you have to take everything with a grain of salt. You know, I got trust issues. We talked about my trust issues with the school system. I trust issues with the federal reserve bank. You can’t just trust everything. You broke hotel CB there. And especially if it’s not your broker, if you don’t know this person, do your own research and, you know,

Danille:
Yeah. That’s another thing we’re going to say is like, what the real estate agent, you know, her brokers say, people just trust them. Like they’re real estate experts. Right. Well, my real estate agent said the market’s going to keep going up. And it’s like, well, why would they, what are they going to tell you is I’m thinking it might go down. Like they want, they work for commission. Yeah,

Jaspreet Singh:
I know. I know. I mean, it’s the same people, you know, it’s, it’s everyone, right? It’s w where’s their incentive before the 2008 crash, the government and the fed said is just a temporary transitory, uh, slowed down. Inflation is just transitory right now, you know, real estate agents before the 2008 crash, that there was a lull right now, it’s the market won’t slow down. And if it does, I’ll be temporary, you know, which is fine. You know, they’re not necessarily experts. They’re doing their job, which is to sell a bank stop is to give you a loan. They’re trying to sell you money. And so what we talked about is you need to be financially educated. It doesn’t make these people evil. They just, they don’t necessarily know what’s better for them. And so you need to have that education kind of as the barrier where when you get bad information, you know how to filter out the crap.

Ken McElroy:
That’s right. I, I always tell people, you know, with it, whether it’s your wealth manager, your financial planner, or your real estate agent, they work for tips. They do, they’re commissioned they’re, you know, they’re salespeople, they’re licensed salespeople. Some of them are very bright. Some of them are very good. Some of them will tell you what they think, uh, which is fine, but you still have to trust, but verify. Absolutely, absolutely. So let’s, uh, let’s jump to the last question for premium here, and by the way, this has been great conversation. Thank you. Thank you. Thank you. Um, so I’d love to know where you’re seeing the investment opportunities based on all the conditions that we have at the,

Jaspreet Singh:
Um, so I’ve been doing, I mean, I’m still buying real estate. I’m being pickier than ever. Um, I have money going into ETFs every week in the market, because I believe in the American economy, I have money going into gold every month, just in case I’m wrong. But I guess a bigger portion that I’ve been investing in more recently has been, uh, cryptocurrencies and then startups. Uh, you know, I’m an entrepreneur. I love investing in companies because I love working with companies. What I’ve learned now is just because of I’m busy, I cannot build a new business. I can’t start it from scratch, but what I can do is I can provide capital to these new startups and advise. And so I’ve been investing in startups, um, in different industries, mainly in the digital industry, you know, internet type companies, things that are on the internet.

Jaspreet Singh:
Uh, one example is UpCounsel. I’m an attorney. And so UpCounsel is a company that helps small businesses get affordable access to legal work. And so, you know, I love the idea of disruption. So that’s something that I’ve been doing. It’s very risky. You can lose all your money, but you have higher potential. The nice thing about being alive in today’s time is, is, uh, it is more accessible to invest in startups than ever. So that’s, that’s one thing that you can do. And cryptocurrency is obviously a big transfer of wealth, highly risky, highly volatile. You’re going to probably see crashes. You know, we could see another 2001 style.com crash in the cryptocurrency market. But in terms of the technology, blockchain has a lot of potential. It has a lot of power, and this is it’s going to revolutionize the way we do things on the internet, especially as a next generation kids that are in college in high school. Now get older, they’re already used to it. They do everything on the internet. And so as they get older, you’re going to see a much bigger shift towards blockchain and cryptocurrency. So that is another room for opportunity there. But just again, everything do not follow the hype learn and do not just chase your investments. Yeah.

Ken McElroy:
Very wise advice. So Jaspreet, how do people reach you? Cause I I’ve been following you, uh, and I love your content. What’s the best way people can get over.

Jaspreet Singh:
Well, first off, thank you so much. You know, I’ve been a big fan of yours, so it’s, it’s a very nice to hear that. Uh, but you can follow us at minority mindset on YouTube. TheMinorityMindset.com is our website where we post content daily and you can check us out on all socials at minority mindset.

Ken McElroy:
Well, I very much appreciate it. Uh, do you have any files now? I just, I think you’re awesome. We love your channel. We definitely tune in let’s let’s, uh, you know, let’s do this again. You know, let’s, let’s let the economy do what it does and then we’ll jump back on and, and make fun of, uh, kind of what happened and, and, and, and see where some of these predictions. I love it. It’s always fun to look back and say, you know, I told you so, or I was wrong. Yeah. I like to take screenshots of things so I can see what really happens. Let’s do it Jaspreet. Very, very nice to see you. Thank you again for your time. I appreciate it. Thank you for having me on cheers.

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Ken McElroy has lived and breathed real estate for his entire adult life, learning from the ground up. He shares his insights and experiences on his podcast, “Real Estate Strategies with Ken McElroy,” and on his wildly popular YouTube channel. Ken is passionate about educating others so that they too can experience financial freedom through real estate investing.
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