Episode 102: How to Make and Lose a Million Dollars … and Then Make it Back Again – with Rich Hake

Instant Investor Podcast (Formerly: The M.O.R.E. Podcast)

What many people don’t realize is that it takes a specific set of skills and a certain mindset to make a million dollars, but in order to keep and grow that million?

That takes a different skillset and psychology.

Our guest this week, Rich Hake, had to learn that the hard way… through the “school or hard knocks”!

Want to avoid some of those potentially career-ending pitfalls and setbacks?

Here are just a few “pearls of wisdom” that Rich shares from his 40+ year career as a real estate investor:

* Biggest lessons learned from losing a million bucks!

* One of the most valuable skills you can possess during a downturn.

* Rich’s #1 favorite real estate investing strategy for building huge CHUNKS of cash.

* His favorite asset classes… and why

* How to sell a property and make a net profit of up to $500k – totally tax-free!

* Much, more more!

Tune in now to hear Rich’s incredible story of resourcefulness, creativity, and having a ‘never say die’ mentality,

More about Rich Hake:

Rich Hake, Ph.D. Esq. is a California private lender, investor and broker in San Diego, California. He has been an active real estate investor since 1980. When working in collections and loss mitigation for a community bank in upstate New York, he bought a real estate course during a late night infomercial. Since then, Rich has been involved in notes, residential rentals, commercial and residential rehabs, operated a real estate brokerage in San Diego County and taught short sales, private lending and syndications.

Through the economic cycles of the last 40+ years, Rich has learned to be mindful of character and the times, as well as any particulars of any specific deal.

Prior to his move to full time real estate and consulting, Rich was counsel to a number of small companies in San Diego, specializing in M&A and intellectual property.

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