S2E22 Leo Florin Never sell when the market is down

S2E22 – Leo Florin – Never sell when the market is down

Leo Florin

Leo Florin – Never sell when the market is down. My next guest is an experienced real estate investor who also started investing in the stock market within the last 5 years. In this episode, he shares some of his biggest mistakes, his investment strategy, and what stocks he’s buying while the market is down. Please welcome, Leo Florin.

Payback Time Podcast

Payback Time is a podcast for investors. The goal of this podcast is to help make investing approachable and easy to understand. We will interview beginner and experienced investors and ask them to share stories on how they got started, what challenges they faced, what mistakes they made, and what strategy works for them today. The overall objective is to provide you with a roadmap that helps you become a better investor.

key timecodes

  • (00:58) – Leo’s background story
  • (02:01) – When he started investing in the stock market
  • (04:19) – His experience using robot trading app
  • (06:26) – Making the transition from investing in safer larger funds to learning how to deal with individual stocks
  • (06:55) – His biggest mistake in investing
  • (08:04) – How he is using  Tykr
  • (08:22) – His portfolio today and the number of stocks he holds
  • (09:53) – Using TYKR to find reliable information
  • (12:16) – What percentage of his monthly income does he invest?
  • (13:04) – His returns in 2021
  • (14:06) – What was his biggest win
  • (15:05) – His strategy with real estate gains
  • (20:23) – The pros and cons: real estate x stock market
  • (23:43) – Deeper on his real estate strategy and perspective
  • (27:46) – The best investment advice he ever received
  • (27:57) – The worst investment advice he ever received
  • (28:15) – The importance of learning to invest at a younger age
  • (30:33) – Leo’s contacts


[00:00:03.430] – Intro
Payback Time is a podcast about building businesses wealth and financial freedom. We try to uncover the challenges our guests faced, the mistakes they made, and the steps they took to achieve their goals. The overall objective is to provide you with a roadmap that leads to your own success. Sean Tepper is your host. Are you ready? It’s Payback Time.
[00:00:33.030] – Sean
My next guest is an experienced real estate investor who started investing in the stock market within the last five years. In this episode, he shares some of his biggest mistakes, his investment strategy, and what stocks he’s buying while the market is down. Please welcome Leo Florence. Leo, welcome to the show.
[00:00:50.570] – Leo
Hey, Sean. How’s it going?
[00:00:52.220] – Sean
Good to have you here. I know you’ve been a long time customer of Tykr, and I’ve been excited to get you on the show. So first off, why don’t you tell us a little bit about your background?
[00:01:01.710] – Leo
So I am a real estate broker here in Sunny Campbell, Florida. I’ve had the pleasure of working with Fannie Mae as a property manager and understanding the back end of the foreclosure status back in 2008, 2009. And then I also worked into a broker who works with investors here in Southern Tampa, Florida. I got into investing back in 2008 and wholesaled a couple of properties. I’ve also invested in some properties. I’ve also sold plenty of investment properties. And so now I delved into the world of stocks after real estate. And so it’s a good compliment for any investor to have is to be able to understand stocks accordingly.
[00:01:47.470] – Sean
Right on. And now you’re a full time real estate investor, is that correct?
[00:01:52.290] – Leo
No. Part time real estate investor right now.
[00:01:54.600] – Sean
Got you. So what else do you do?
[00:01:56.580] – Leo
I do brokerage services down here in Tampa, Florida. Got you.
[00:02:00.200] – Sean
Okay, so in this episode, we want to kind of talk about the pros and cons of both real estate and stock investing and do a little comparison. I know you’re a big fan of both, but you got a good lay on land of both. But I would like to jump into a few questions here in your stock investing journey, since a lot of our listeners are retail investors. So when did you get started in the stock market?
[00:02:22.780] – Leo
Well, I got started in the stock market back in 2000 and I would say 2016. And I just started with at the time the company IRA was available. And so I was feeding that completely. And then I started investing on my own and started doing robo advising and did that for a little while. And then once I got comfortable enough to understand what an ETF was, then I started moving into buying individual stocks. So in buying individual stocks, I was just getting friends and family, hey, buy this stock great. It’s going to go up. One good example that comes to mind is all the evil, I think, was the Tykr. And so I bought it and jumped all the way up to $16 and it landslide back to eight. It’s one of those things that, hey, try out gold or try out this or try out that. It was just trial by error or trial by fire, shall we say. So for me, finding a platform that could and I’ve tried different platforms. Try to understand how the market works and what’s the best strategy. And everybody will tell you the strategy that’s made them money.
[00:03:40.960] – Leo
But sometimes it doesn’t work for it’s not a cookie cutter set up where every strategy works for that person. I tried some day trading didn’t work out and I like the model of setting and forget it.
[00:03:55.220] – Sean
Yes, make money work for you as opposed to working for money, right? Yeah. That’s what we’re all about here.
[00:04:02.670] – Leo
It’s what I teach other investors that when they purchase properties is from us. That’s what we teach is we teach a system that you guys can or the investor can turn around and create wealth for themselves by purchasing real estate.
[00:04:17.970] – Sean
Right on. I want to circle back to a quick comment about robotrading before we jump to what your strategy is today. How did you use the robotrading platform? Tell us about that a little bit.
[00:04:29.620] – Leo
So I used to use Wallsfront and I basically just Fed it until it continued to grow. And it creates dividends for you. It just meets the market. It doesn’t beat the market. And so I still have my IRA in it because I would like a safe strategy for my IRA and then I have everything else set up on long term investing. Got it.
[00:04:55.140] – Sean
Okay. So they put you in what sounds like a large fund. Would it be like an index fund or ETF or something?
[00:05:02.590] – Leo
It Scatters ETFs throughout four or five different categories. Before you couldn’t pick the categories. Now you can pick the categories. So if you want something that’s more ESG, if you want tax or if you want to it gives you a little bit more customization. Before they basically put you on certain funds or certain ETFs that were available. One of them was Vanguard, total Stock ETF, corporate bonds, foreign bonds, real estate. They had a real estate ETF that they would buy. Some of these were Vanguards, some of these were Schwab ETF. And so what you find yourself is you have a basket full of stocks and you don’t even know what you’re buying other than the fact that it’s an ETF, at least as a novice investor.
[00:05:50.740] – Sean
Got it. I had to ask there because not too many people in Tykr use or have tried robo advisors. But it sounds like your expectations you can maybe meet the market average for my IRA.
[00:06:05.910] – Leo
And I’m actually thinking about moving it to a self directed IRA because we teach our investors to go self directed. I’m going to try to as far as the IRA is concerned, I’m okay with just meeting the market for right now, but eventually I know that a self directed IRA could definitely jump my returns a lot more.
[00:06:26.790] – Sean
I like your journey here. You started safe, starting with the larger funds, and then you started learning from people that, hey, you can go to individual stocks. What gave you the confidence to really make that transition to individual stocks?
[00:06:42.110] – Leo
Well, I started off with just a small amount that I knew I could go to zero, and then I just moved a little bit closer, closer and closer to a little bit more stocks that I knew I could go to zero. Where I made the biggest mistake of my career was I sold half my portfolio in the middle of the pandemic. It was a rookie mistake. I was totally novice.
[00:07:09.810] – Sean
And these were individual stocks.
[00:07:11.250] – Leo
You sold my individual stocks and my cash account on my RoboAdvisor. So I went ahead and just basically sold everything in that regard. I thought it was going to be an L shape recovery. I wasn’t thinking, I lost quite a bit of money, but it’s okay. We make like that. You learn and you don’t do it again.
[00:07:33.990] – Sean
Okay, so what changed after that point? How did your strategy change?
[00:07:38.360] – Leo
Well, my strategy changed halfway through that year. I started being a contrarian, and I started investing in contrarian investments like commodities, gold, uranium, some of the other commodities that are out there, silver. And then I started seeing that there were marginal gains. I moved to companies that either manufacture or pull gold out of the ground, or pull silver out of the ground or copper or anything else. And I started seeing that those do a little bit better, but they just weren’t giving me the returns that I wanted. And then, lo and behold, I found Tykr. And from that point forward, it changed my perception of investing altogether and I stopped betting against the American companies.
[00:08:21.250] – Sean
Good for you. All right, so what do you invest in today? Can you share us your portfolio a little bit?
[00:08:27.900] – Leo
Yeah, I have all the staples. I got Microsoft, Apple, I got a little bit of coordinate, I got some of our favorite PayPal. That’s the dreaded one, but I’m trying to continue to hear that dollar cost average down. Let’s see. I got Baba. I jumped into Baba. I think that’s going to be the next Amazon of China. There’s a little bit of risk involved, obviously. I got a little bit of meadow.
[00:08:59.490] – Sean
Oh, yeah.
[00:09:00.090] – Leo
I got a very small amount of square. And of course, Pavanteer for the future. I do have my old Barrack Gold holdings and just holding on to them. They’ve actually been producing a decent dividend. So my returns are not that great, but not as bad as they would be if the dividend wasn’t there.
[00:09:19.770] – Sean
Sure. How many stocks do you hold total, would you say?
[00:09:25.030] – Leo
13 stocks that I have that are active and then I have fractional shares. I set up what are called tracker shares. So I buy like a quarter of a share, and I just track it and see how well it’s doing. I did that for an Akito Finance portfolio that I bought. That one’s not doing so well. I did one for dividend stocks and Tykr, and that one is doing a heck of a lot better than that.
[00:09:51.250] – Sean
Good to hear. All right, so I love it. You made the switch from kind of listening to people taking a risk, kind of blindly going into the market. Now you got a tool. You’re using Tykr to find some quality stocks and no more this contrarian against the US. Because there are a lot of strong stocks here in the US.
[00:10:12.850] – Leo
And the paradigm shift was just making sure that you’re continuing to feed the cow and continuing to feed quality companies. I think I didn’t understand that when I was coming up and I knew how to read an income statement, and I knew and I understood that, but I didn’t know if that was the catalyst or the factor that played a role in getting exponential gains versus continuing to get marginal gains.
[00:10:38.550] – Sean
Yes. As we learned from Phil Town, it really focuses on that EPS growth rate to determine that margin of safety. And today we really pay a lot of attention to that fair value over the share price. Investors will see a share price and be like, oh, wow, that’s really expensive. But I always tell them, try to turn your attention to that fair value. That’s the real number. Because if it’s much higher than the share price, that’s what you’re looking for.
[00:11:05.540] – Leo
[00:11:07.390] – Sean
When was your last investment?
[00:11:09.340] – Leo
[00:11:10.930] – Sean
[00:11:11.960] – Leo
I bought a big NCAA down to a couple of the stocks have been beaten up. My portfolio is down, just like most people is, but I know that I’m getting a better dollar cost average. I’m finding my way to positive ground with certain stocks. I found my way to positive ground with Apple and with Facebook today. So it’s one of those things that if you continue to feed good companies, the returns are going to be there.
[00:11:35.390] – Sean
Yeah. And if you’re hitting positives on those stocks, you’re just getting warmed up because this market hasn’t taken off. And when it does, like Apple and Meta, when the market takes off, they’re going to go like a rocket.
[00:11:47.960] – Leo
Well, it’s supply and demand, and we know it if we understand that concept, and that’s what I didn’t understand as a junior investor, is the supply and demand aspect of stocks is once you get that through the brain, you’re able to understand that there’s still a lot of people sitting on the sidelines with cash. And as soon as this market takes off, the demand for quality companies over companies that have negative growth will be exponential.
[00:12:14.990] – Sean
Yeah, right on. What percentage of your monthly income do.
[00:12:18.840] – Leo
You invest it’s sporadic right now because my commissions go up and down. Okay. It’s not something that I have a set amount. I basically continue to invest a certain amount every single week, and then anything that I get above and beyond that, I’ll invest into the stock market. So I don’t have a set percentage.
[00:12:38.560] – Sean
Got it.
[00:12:39.090] – Leo
If you’re on a fixed income, I recommend putting in 20%, 30%, whatever you’re comfortable with, but I don’t have a certain percentage that I have. That’s fine.
[00:12:50.650] – Sean
I know within our Tykr onboarding, we’re big on that. Try to go between 15 and 30%. Some people, if they’re just getting started out, I’ll be a lot less, which is totally okay. Try to warm your way up to that range. That puts you in a really good spot.
[00:13:03.710] – Leo
[00:13:04.690] – Sean
All right, time to talk about returns. Do you know what your returns were? Let’s just focus on 2021.
[00:13:11.500] – Leo
So 2021, I started with Tykr in May of 21, and so I had negative returns prior to that because I had sold my portfolio, and then I was part contrarian. And so my returns are still developing. Shall we say?
[00:13:30.430] – Sean
You’re just getting warmed up with Tykr, just getting started.
[00:13:33.390] – Leo
That’s it. As long as I continue to feed those quality companies, I mean, on the backswing, I could see high returns. I’m not going to put a number to it because I haven’t seen it yet, but I know that those returns are coming.
[00:13:47.100] – Sean
Yeah. This is the most exciting buying opportunity I’ve seen since 2008 and nine. So when this market takes off yes, you’re buying right now. When a lot of companies are down, especially tech stocks, you’re going to be a really good spot.
[00:14:00.870] – Leo
[00:14:02.170] – Sean
All right, so you shared your biggest investment mistake or challenge. What was your biggest win? And this doesn’t have to be stocks. It could be real estate as well.
[00:14:12.070] – Leo
Biggest win as an investor, anytime I wholesale a property, I’ve wholesaled prior to me jumping on with this broker, as far as biggest win as far as an investment is concerned, is just that I’ve held two or three rental properties in the past, and so I understand the power of compounding in situations like that. As far as biggest win, I can’t tell you off the top of my head right now what biggest win is got you wholesale.
[00:14:43.130] – Sean
Could you define that real quick? We haven’t had too many wholesale real estate investors on this podcast.
[00:14:49.410] – Leo
You find somebody property that needs work and needs a lot of attention, and then you flip the contract from a person who is willing to sell to a person who’s willing to buy.
[00:15:00.730] – Sean
Okay. Can you make the spread?
[00:15:02.850] – Leo
There’s a Delta put in there.
[00:15:04.130] – Sean
Yeah, got you. Okay. And then if you make a decent enough gain from, let’s say, a real estate deal like that, you can take your profits and put it right into the stock market.
[00:15:13.370] – Leo
Yeah. Because the power of leverage.
[00:15:15.850] – Sean
That’s it.
[00:15:17.410] – Leo
Once you get it in the stock market, you can borrow against it and it can create returns. And once you borrow against it, then you can continue to duplicate the process. And that’s why we teach a lot of our investors here, especially with self directed IRAs, they’re able to pull from that pool. And there are only two sources of passive income. Crypto is still a player in the market that’s evolving, but the two that have true test and time and Gary View will tell you is real estate and public markets. And so if you’re able to use one and leverage the other, then you’re able to continue to gain assets and borrow against them and then eventually will that to your children.
[00:15:59.410] – Sean
Let’s take a quick commercial break. Do you feel like stock investing is too confusing, too time consuming, too risky? It doesn’t have to be. If you ever considered investing on your own but don’t know where to start, Tykr is your solution. Tykr safely guides you through your investment journey by finding great stocks and showing you why those stocks are on sale, giving you the confidence that you’re making a wise investment. I created Tykr because, number one, I wanted to remove emotions from investing. In other words, I wanted a software to make buying and selling decisions for me so I don’t have to. Number two, I wanted to save time. Analyzing stocks can take hours, if not days, and I never want to spend all day looking at a computer. I have other hobbies in life I’d rather be enjoying. I’ve been using Tykr the last five years to generate average returns ranging between 15% and 50% per year. Seeing that I was generating consistent high returns multiple years in a row motivated me to turn this software into a tool to share with others. If you’re interested, you can get started with a free trial.
[00:17:05.470] – Sean
Visit Tykr.com. That’s tykr.com again. Tykr.com.
[00:17:16.650] – Sean
How do you manage emotions, especially in a time like this when the market is down? A lot of people are fearful, not sure what to do. What do you do?
[00:17:25.570] – Leo
Well, I’ll tell you. Prior. I was an emotional trade wreck when I was a junior investor. Right now I’m cool as a cucumber.
[00:17:33.780] – Sean
[00:17:35.130] – Leo
Right now I’m emotionalist. I just know that I continue to feed the cow, and as long as I continue to feed the cow, eventually slaughter it and have some eat, that’s it. Tykrs been able to take away the emotion of the down market. Anybody who suffers a 30% loss or 30% down on the market can turn around and easily sell and say, hey, I’m going to look the other way and get out. Everybody’s bleeding, and I’m sitting there in the middle of the fire looking around, going, hey, what’s going on? It’s going to rain tomorrow. It’s going to rain in 15 minutes. Let the rain take away the fire so that’s basically what it’s done for me is being able to take a very emotional process and remove the emotion from it. Love it.
[00:18:26.130] – Sean
Thanks for sharing that with our audience. I know it’s kind of like you’re in the eye of a storm. It’s all around you, and you’re just sitting there chilling out like, yeah, we’re good. I’m just going to buy more.
[00:18:38.110] – Leo
What happens is that stress continually makes people worried. And so I know that my backswing is going to be a hell of a lot stronger than my front swing. And it doesn’t matter. I’m feeding quality companies. And so for me, I don’t have to worry about what’s coming next. I know that whether I buy it at 70, let’s say, for example, PayPal, whether I buy it at 77, which it was today, and I bought it today at 77, and I bought it at 300 when I was at the top. It doesn’t matter because I know that buying it at 70 and buying it at 300, I’m not going to pull that money tomorrow.
[00:19:17.290] – Sean
And one thing you’re doing there, and this is what I try to stress with investors, is let’s say you did buy it at 300, but you’re also buying it at 77 is you’re pulling down that cost basis. You’re lowering that’s what you want, because that 300 average between keeps getting lower and lower the more you buy at that lower point.
[00:19:36.240] – Leo
Well, the other thing that it did for me, because here’s the thing, is I was dipping my toes back into the market after I sold everything, and my biggest mistake, shall we call it, and so I was dipping my toes back into the market, just feeding and feeding and feeding just very small minute amounts. So when I bought at 300, I probably bought one or two shares at 300, right? So now that I see it at 77, now I’m buying five and six shares at 77 versus buying one or two at 300, shall we say. And so it’s a situation that I feel more comfortable now than I did because I can commit more capital to a greater cause because now the stock has been beaten up by the stock market.
[00:20:21.960] – Sean
Right on. I want to bring real estate back into the fold here. Could you talk to us about what are some of the pros and cons of investing in real estate versus investing in the stock market?
[00:20:35.020] – Leo
Okay, so pros on real estate, the main pro is the velocity of money. It’s a concept called velocity of money. And basically what it is is you get four income sources from real estate. So basically what you get is you get the cash flow coming in, which is the difference between what the rent is and all the expenses are. You get the tax benefits of depreciation, you get appreciation of the asset, and then of course, you get the principal buy down. All those four things should add up and it’s a varying scale. Anywhere between 18% to 25% should be where you should be, right? And so what happens is that a lot of real estate investors, they use their cash to be able to continually purchase these properties and then it’s a very cash intensive so we can put that on the con side. It’s a very cash intensive operation compared to stocks. Stocks, I can come in and I can buy a stock at $5 and have it continue to grow from there. If it’s the right stock versus real estate, you have to have a heavy down payment. And we’re talking for the novice group, the folks that are just starting out.
[00:21:50.440] – Leo
We’re not talking about these major REITs or large corporations that come in and purchase properties cash. What I tell people all the time when I tell this to investors is renting without investing is probably the worst thing that you can do is you want to be able to invest and also rent at the same time if that’s where you’re at right now in life. And so when people come up to me and say, hey, I got $3,000 to invest, I want to start buying real estate, I’m like, listen, you’re going to need more $100,000 just to get in the what stocks do is it gives you a lower point of entry. So stocks, the pros to stocks is the lower point of entry for that set up. Real estate is a little bit more complicated in my opinion, than stock investing. If you buy the major staples or you just buy an ETF, an index, generally over time you can make gains, right? Whereas real estate investing, you have to understand that all four principles need to be there. Principal buy down has to be there. And those are standards. The principal buy down, the appreciation and the tax benefit.
[00:22:57.440] – Leo
A lot of people miss that. It has to cash for it to be a positive investment. And you can take in real estate, you can take an investment that started out at 10% cap rate and turn it into a five fairly quickly because of rehab. Too much money, too much capital is very capital intensive. So what I tell people all the time is to start learning how to invest in real estate while you’re learning how to invest in stocks because both of them can help you hand in hand later on in life. So for the novice investor, the starter stocks is the way to go at the beginning or house hacking where you can go in, purchase the house for yourself, fix it up and off you go. So those are the pros and cons related to real estate investing versus stock investing, right?
[00:23:43.900] – Sean
I’d love to hear your perspective there because we do have a lot of listeners that invest in both and I’m a big fan of both. I love real estate. I didn’t think of the four revenue streams from a property. That’s brilliant. I always thought of that first one, which is the rent. You’re getting that cash flow, which I’ve got a particular friend of mine, he’s a younger investor, he’s 18. He just got his first property. He worked a lot in high school. He bought his first property, and now he’s generating cash flow from that. And he comes to me and he’s like, should I go for my second property and put money in stocks? I’m like, at your age, I’m kind of like, maybe use this momentum and get another property and maybe another, but always use some of your profits to put into the stock market so that’s growing in parallel.
[00:24:29.550] – Leo
Yeah, what you want to do is you want to be able to get back all your funds from your first investment. And this is what we talk about with velocity of money. It’s basically leverage. You can leverage a lot faster with real estate than you can with stocks, although you are changing my mind on that, because if I’m buying all the quality stocks that are in the market, then I have a safer bet by borrowing against it for a short amount of time to be able to set up a property. And actually, one of my favorite YouTubers Meet Kevin, actually did this. He borrowed margin against his stock portfolio and purchased the property for, I think, 90 days until he finished a rehab, refinanced it, and now he has a property that’s cash flowing for him. So that’s the biggest key to real estate, is being able to leverage and duplicate what you’re doing faster than you can with stocks.
[00:25:22.990] – Sean
Yeah, that’s great to hear. And some of the pros and cons, especially from your perspective as you’re in.
[00:25:28.700] – Leo
Both investment, what’s the issue with being in both and being able to leverage one to get the other and vice versa? And I think that’s the goal for a lot of investors. And I’ve seen it time and time again with a lot of the guys that I deal with. Is that’s what they do? They just borrow against their existing portfolio?
[00:25:46.520] – Sean
Smart. Well, good. Well, thank you for sharing your background. What I’d like to do next is transition to the rapid fire round. We got a few questions here. Yes. We’re going to get to find out who Leo really is. If you can, try to answer each question in about 15 seconds or less. Are you ready?
[00:26:02.790] – Leo
[00:26:03.440] – Sean
Let’s go. What is your favorite podcast?
[00:26:06.730] – Leo
My favorite podcast is a podcast that’s called Invest Florida. Eric Odom is the gentleman that does that podcast and talks about multifamily investing. He talks about different things related to investing in Florida. And then my second one is Phil Town’s podcast. I listen to his every once in a while, and then I try to dabble in everybody else’s podcast and try to get bits and pieces from other players.
[00:26:31.540] – Sean
Sure. Nice. All right, what is a recent book you read and would recommend?
[00:26:36.130] – Leo
I’m actually an auditory learner. Okay. I listen better than I read, and so I watch a lot of YouTube videos. I watch a significant amount of YouTube videos.
[00:26:46.800] – Sean
Is there a particular person or channel you like?
[00:26:49.960] – Leo
I like Me Kevin. Okay. He has a little bit of both real estate and stocks. Your channel is always good for stock reviews, and then I dabble in a little bit. If there’s something in particular, for example, if I want to know from somebody’s perspective on particular stock, I’ll just go directly to that channel. And some people focus on heavy tech, some focus on I watch a lot of CNC. Those are all YouTube channels that I watch.
[00:27:13.690] – Sean
Nice. All right. What is your favorite movie?
[00:27:16.300] – Leo
Oh, gosh. Spaceballs.
[00:27:18.970] – Sean
Spaceballs. Classic.
[00:27:21.730] – Leo
Mel Brooks.
[00:27:22.760] – Sean
Yes. Mel Brooks, Blazing Saddles. I think of two. He’s got a great library.
[00:27:29.710] – Leo
I’m going to comb the desert.
[00:27:33.430] – Sean
We ain’t found.
[00:27:34.930] – Leo
Yeah. My wife, because I always try to show it to my friends and they’re like, what are you showing them? You’re showing them that again? Yes.
[00:27:44.090] – Sean
Classic. Classic. What is the best investment advice you ever received?
[00:27:51.070] – Leo
When I switched from trading stocks to value investing is understanding the concept of value investing.
[00:27:57.550] – Sean
Right on. And let’s flip that equation. What is the worst investment advice you ever received?
[00:28:02.740] – Leo
Contrarian is betting against the United States economy.
[00:28:06.790] – Sean
Nice. All right. And last question here is the time machine question. If you could go back in time to give your younger self advice, what age would you visit? What would you say?
[00:28:15.880] – Leo
I would start right at 18 years old. I’d open up a custodial Roth IRA, or even prior to that, 15 or 16, I don’t remember what the amount is, and just start investing. Because I used to sell baseball cards when I was a kid, and I wish I would have taken some of the proceeds to that and just continually put into a fund. It’s not well known in the investment or I’m sorry, in the Latino community for people who understand the concepts that are related to stocks, because in Latino households, or at least in my household, that wasn’t talked about. My parents, even though my dad had a business degree, he still to this day doesn’t believe in stocks because he doesn’t understand it. And I regard my dad as a very knowledgeable person on the economy because he teaches it in college. And so there is no investment strategy from anyone in my family. So it’s one of those things that I wish I could go back and tell myself, hey, you need to start investing now.
[00:29:23.570] – Sean
Yes. I wish they would start teaching that, even in middle school, because I like your idea there of a custodial account you can get set up with your parents, and then it can be yours after I think you turn 18, at least here in the States with TD. Ameritrade. I think that’s the policy, but, yeah, great idea.
[00:29:42.040] – Leo
That’s one of the first things I’m going to do once my daughter becomes of age is be able to start a custodial IRA for her so that she has something for the future to be able to help her take care of herself in the future.
[00:29:56.320] – Sean
She’s going to be set up.
[00:29:57.500] – Leo
Yeah, that’s what I do on my YouTube channel, is just teach my community and my Facebook community about investing, because if they don’t hear about it from somebody who is, shall we say, Latino descent, it goes in one year, it comes out the other sometimes.
[00:30:13.870] – Sean
That is so good to know.
[00:30:15.560] – Leo
So, for me, it’s important to have my community understand that there is a better way. And you don’t have to listen to Mum and dad investment strategies, because sometimes they don’t even have any.
[00:30:27.180] – Sean
Right, well, thank you, Leo, so much for your advice and your story here and what you’re doing. The last question is, if the audience wants to reach out, where can they reach out?
[00:30:38.670] – Leo
So they can reach out on Facebook, they can reach out on Instagram, and I can provide you with those links. I also have a YouTube channel that you guys can get to know me a little bit better. I do some tips on real estate and real estate investing there and then I also do stock market tips for the novice investor. And it’s getting the word out to the Latino community that there is a better way and there’s an easier way to live in America than just saving every single penny that you have and not investing a single dollar of it.
[00:31:11.240] – Sean
[00:31:12.970] – Leo
[00:31:13.520] – Sean
We all really appreciate your time and we’ll talk to you soon.
[00:31:17.140] – Leo
Thank you so much, Sean.
[00:31:18.390] – Sean
All right, see you.
[00:31:23.930] – Sean
Hey, I just want to say thanks for checking out this podcast. I know your time is valuable and there’s a lot of other podcasts out there you could be listening to. So thanks for taking the time to listen to my guest story. If you did enjoy this podcast episode, could you head over to itunes and leave a five star review? That would be much appreciated. Thank you. And last but not least on this podcast, some episodes we do talk about stocks. And please keep in mind, this podcast is for entertainment purposes only. So if you did hear any buy or sell recommendations, please don’t make those decisions based solely on what you hear. All right, thanks a lot. See ya.