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REAL ESTATE Investing Tips from a FINANCIAL Planner?
Episode 846
How do you find a trustworthy financial planner? And, if you're into real estate, how do you find one who understands real estate and can add value to your specific strategy? In this episode, our guest Kyle Mast, is just that. He's a certified financial planner and a real estate investor who understands that kind of investing strategy.
Kyle is the owner of Clarity Financial which is a fee-only, fiduciary firm with a focus on helping pre-retirees, real estate investors, and people pursuing early financial independence, but he's not taking new clients at this time. He loves helping people get their financial lives in order, however, and does that by doing interviews, like this one.
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TRANSCRIPT
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Speaker: [00:00:00] You're listening to the Real Wealth Show with Kathy Fettke, the real estate investors resource.
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Kathy Fettke: How do you find a trustworthy financial planner? If you're really into real estate, how do you find a financial planner who understands your strategy and supports it and can help you with it? I'm Kathy Fettke and welcome to the Real Wealth Show. Our guest today is just that. Kyle Mast is a financial planner, and he's also a real estate investor. He's a CFP and the owner of Clarity Financial, but I just want to warn you, he is not taking new clients at this time, but he's happy to give us guidance here on the Real Wealth Show for free. Kyle, welcome to the Real Wealth Show.
Kyle Mast: Thanks for having me, Kathy.
Kathy: Do you agree that it's important for your financial planner to understand real estate if you are also investing in real estate?
Kyle: Well, that's a very loaded question. Yes, very easy question. If you're not interested in real estate at all, then you probably don't need a planner that knows very much about it, but if that's a big piece of your portfolio, especially if it's the majority of your portfolio, you need to make sure your financial planner, depending on what you mean by financial planner, does understand real estate just as much as maybe stocks and bonds or something that's maybe more typically thought of in that area.
Kathy: I am so glad you mentioned that because I thought a financial planner technically should be someone who looks at your entire financial plan that would include real estate, but generally, it doesn't at all. It's just mainly for stocks.
Kyle: It depends on who. When you go to look for a financial advisor or a financial planner, there's a couple of things that you maybe want to look for when you're looking to work with someone. Some people are very focused on investment management, getting a portfolio of investments that include stocks and bonds, maybe some alternatives in there that could include real estate.
Sadly, our industry, a lot of the training is really focused on stocks [00:02:00] and a portfolio and how to allocate it according to someone's age. Those things are all important, but it misses a broader picture of, if you own a primary residence, should you consider refinancing at some point? A lot of t
Published on 4 years, 3 months ago