From Active Investor to Passive Investor w/ a Laundromat with David Royster 598

If you truly want to become successful, you need to be responsible for your own money, and that’s only one of many lessons that David Royster learned through the years.

David has this vast array of experiences. He’s done everything from active real estate investing, to some passive deals, syndications, rentals, and so much more. He’s been there and done that, and he’s here to share the wisdom he’s gained through it all. 

Listen to this episode to learn about what it’s like to venture into multiple investments and how you can do it successfully!

Key Talking Points of the Episode
[03:19] How was David’s experience with a financial planner?
[06:10] How did David start his career in real estate?
[07:42] What is David’s family background?
[09:27] How did David become a Money Ripples client?
[10:41] Growing your net worth vs. Growing your cash flow
[14:33] Why did David decide to get into franchises?
[15:45] How did David’s laundromat franchise start?
[17:36] What did David learn from being hands-on in the business?
[19:29] What is David’s advice to people listening?

Quotables

“I got $500K worth of stock options that I exercised, so I thought, let me hire a financial planner because, with this much money, I really wanna make sure I know what to do with the money.”

“There’s a whole difference between growing your net worth and growing your cash flow.”

“When you’re just sitting in your office doing something for most of the year, hoping that you’ll be able to find something else, it gets pretty boring.”

“You really need help because you don’t know what you don’t know, but you really need to take ownership of your investments to succeed.”