Navigating Risks and Success in Real Estate: Lessons Learned from a Lawsuit with Joe DiSanto

Joe DeSanto is a fractional CFO who specializes in providing part-time CFO services to businesses. He has a background in owning larger businesses in the production and post-production space in Los Angeles. Joe and his wife decided to make a change in their lives after having a child, and they moved to Florida. With their savings from real estate investing and other market investments, Joe was able to work part-time and supplement their passive income. His financial independence and early retirement mindset led him to consider himself semi-retired. However, his expertise in finance and managing businesses led to his former partners asking him to continue handling their finances as a consultant. This led to other business owners reaching out to Joe, realizing the need for a part-time CFO who could provide the same level of expertise at a more affordable cost. Joe enjoys working with his clients and helping them understand the importance of running their personal finances like a business. He started a blog to communicate his knowledge to individuals who may not be able to afford a CFO but still want guidance in managing their finances. Through his blog, Joe offers free information and courses, as well as one-on-one coaching sessions. His goal is to help individuals gain good planning skills for their own future at a reasonable cost. Overall, Joe's focus is on helping businesses and individuals achieve financial success and improve their overall financial well-being.

Connect with Joe DiSanto: https://www.playlouder.com/

Key Topics & Bullets:

Primary Topic 1: Real Estate Investment and Risk

• Almost making a real estate investment in Nashville for short-term rentals
• Property was subject to a lawsuit due to owner renting without a license
• Canceling the contract and getting money back
• Lesson learned: Avoid risky or uncertain ventures
• Importance of compound annual growth in real estate investments

Primary Topic 2: Taking Control of Financial Planning

• Taking control instead of relying solely on the financial industry
• Personal investment strategy: diversifying portfolio between real estate, syndications, cryptocurrency, and stock market
• Adjusting asset allocation based on market conditions and personal circumstances
• Exploring other investment products like life insurance
• Creating a new asset allocation plan
• Importance of educating clients about different investment options and savings

Primary Topic 3: Financial Support and Advising

• The speaker's role as a financial therapist
• Assisting with money management and avoiding mistakes
• Helping businesses with employee management
• Assisting clients with organization and identifying areas of improvement
• Advising clients to raise their prices, resulting in positive outcomes
• Acting as a fractional CFO

Primary Topic 4: Financial Services for Businesses

• Speaker's background in owning businesses in production and post-production space
• Transition to offering financial services as a consultant and part-time CFO
• Passion for finance and running personal finances like a business
• Offering coaching and courses on financial planning
• Mission to help individuals manage their personal finances like a business and achieve financial independence

Primary Topic 5: Analyzing Real Estate Investments

• Importance of analyzing the financials of real estate investments
• Factors to consider: cash flow, appreciation, CapEx, and tax implications
• The current market is not favorable
• The significance of time and tax efficiency in real estate holdings
• Depreciation's impact on other income, requiring careful analysis

Primary Topic 6: Getting Help with Personal and Business Financial Goals

• Neglecting planning in personal and business finances due to time constraints
• Seeking help for both personal and business financial goals
• Determining long-term goals, such as retirement destinations and desired lifestyles
• Real estate as an investment option compared to the stock market

Primary Topic 7: CFO Perspectives and Experience

• Traditional CFOs and their background in accounting and certification
• Importance of a CFO candidate with business ownership experience
• Speaker's experience as a business owner and guidance on broader business owner tasks
• Importance of bookkeeping, emergency planning, and managing credit and financing

Primary Topic 8: Personal Finance Fees and Tracking Income/Expenses

• Treating personal finances like a business
• Tracking income and expenses like a business
• Importance of profit and loss statements (P&L)
• Understanding the impact of compound annual growth rate on financial goals
• Importance of investing and not solely relying on financial advisors or index funds

Primary Topic 9: Real Estate Investment Analysis

• Speaker's course with three pillars, including real estate analysis
• Detailed sheet for real estate analysis with various metrics
• Mapping out returns on an annual basis for 30 years
• Visualizing property performance over time.

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Mentioned in this episode:

RealDealCrew.com