126: How To Live Richly With Sándor Lau

Released Wednesday, 31st May 2017
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How to live richly is one of the chief focus points for today's show, with Sándor Lau. Before we get into all that though, we break down how and why Sándor got into note investing.
Sándor is a super charismatic guy, and one of my new favorite people in the note space - though he's been in it longer than I have. Like we mention in the show he's the Chinese-Hungarian-American-New Zealander, Eagle Scout, and Fulbright Scholar your mother warned you about. However, don't let that description fool you. He knows his stuff, and he brings some great content and advice on today's show.
Sándor Lau Like many of us, Sándor came to the real estate business, specifically the note investing business at a difficult time. He had made some award winning films and was a news anchor in New Zealand. He enjoyed the life of an artist, but the starving part started to wear on him.
After reading some books on investing and real estate he landed on a book by Gordon Moss. We've talked about the book on the show before, Performance Anxiety.
Before fully jumping into notes he bought a few awesome rentals deals - and a terrible multi-family deal. Months and months of paying out of pocket for the multi-family deal, because his tenants decided they didn't want to, he figured there had to be a better way. Which lead him back to reading books, and that's how he found note investing.
He mentions during the show that one of the major reasons he invests in 2nds is because of asymmetric risk. For him 2nds provide an amazing opportunity to apply leverage when purchasing deals. And even though leverage cuts both ways in real estate, according to Sándor in 2nds it doesn't cut both ways evenly - hence the asymmetric risk.
How To Live Richly Sándor has a great presentation on his YouTube channel about How To Live Richly. I highly recommend you go check it out. While you're there, it might also be worth checking out some of his other videos - he's got some really good stuff.
During this talk about how to live richly he mentions a Japanese principle called Ikigai. The most direct translation would be that your ikigai is your purpose, your reason for being.
For new listeners of the show, this might seem like a left turn, a departure from the norm. However, we've talked often - and openly - about our pursuit for more than just... well more. There are things more important than more money. It's the reason we priced Due Diligence Pro so low. It's the main reason we wanted to bring Sándor on the show.
The extended definition is the convergence of 4 areas: what you love, what you're good at, what the world needs, and what the world will pay you for.
That’s it for this week! Thanks for listening everyone and as always, if you have any questions, comments or potential deals to send our way, email us at ask@notemba.com.
Listen & Watch this Week’s Show to Learn:
  • What Is Ikigai
  • Where To Find 2nd Lien Deals
  • How To Live Richly
  • How A Second Mortgage Is More Like A Stock Option Than A Real Estate Deal
  • Other Than Credit Reports, Where Else To Do 2nd Lien Due Diligence
  • And much more!
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Thanks for listening to our show! We’ll be back next Wednesday morning.
Chase & Robby

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53m 59s

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