This week we welcome special guest Paula Pant from Afford Anything. We discuss real estate investing, running an Airbnb, favorite travel destinations, and more in this episode of the Personal Profitability Podcast. Resources Mentioned: Afford Anything Paula on Twitter Paula on Facebook Full Transcript Eric Rosenberg: Ladies and gentlemen, boys and girls, children of all ages, welcome back to the Personal Profitability Podcast. As always I am your host, Eric Rosenberg and I'm excited today for episode number 30, the big 3-0, the dirty thirty. We have another special guest for you here today. I know you guys are all probably wondering like, how is every guest special? Because I work hard to find some of the most awesome people out there. And if there were someone who represents of all the cool things that unicorns and rainbows, that is the person we have on the line. I'm speaking, of course about none other than Paula Pant of Afford Anything. Say howdy, Paula to everybody. Paula Pant: Howdy! How's it going? I'm glad to be here. Eric: Thank you, yeah. So Paula, if anyone is not familiar with Paula yet, so she, I met actually at the, I know FinCon comes up a lot on this podcast, I met her at the very first FinCon in a trendy Chicago suburb called Schaumburg. I don't know if you could really call it trendy but its home of one of the largest malls in the United States out of Minnesota. That's its claim to fame. They have a really big mall in Schaumburg. Paula: I didn't know that. Eric: Actually right after FinCon, one of my buddies who lives in Chicago, picked me up and we walked around the mall because had a little time to kill before we went to the airport. So I've now been to America's biggest and second biggest, I think, malls. Little tidbit of Chicago suburb history or claim to fame. Paula has a site called Afford Anything which is totally well named for her motto. Paula has a very similar philosophy to me of 'don't get so frugal that you're hurting your life. Go make more money and figure out how to live the life you want.' That's Paula's shtick. If you wanna throw out an elevator speech, if I missed anything, tell people a little bit about you and your background and your site. Paula: Sure. Exactly as you said the idea behind the site is to really focus on earning and investing. A little bit about myself is that I am a recovering penny-pincher. So back in the day I used to be obsessed with penny pinching. I used to be obsessed with frugality. We didn't have a whole lot of money starting out. We were immigrants. My family and I immigrated to the States when I was a child; I mean I was like a baby, I was in diapers. But you know, we always got by but we lived a very TJ Maxx sort of life. And I just carried those lessons of frugality with me into my adulthood and I eventually realized that being obsessed with penny pinching was actually hurting me. And ironically it was actually harming my net worth because I was devoting so much time and energy focusing on frugality that I wasn't turning my limited attention to figuring out how I can earn more and how I can then invest those earnings. Once I started doing that, once I pointed the needle in that direction things got much better. I began earning more, I developed a big rental property portfolio, so now I'm a real estate investor. My whole life changed once my mindset changed. Real Estate Investments Eric: Speaking of real estate, that's actually the first thing I wanted to ask you about. I'm actually considering becoming a real estate investor myself though we're moving down to California which real estate costs a little bit more than it does here in Portland which isn't even cheap here. When you were starting out, I know it's hard enough to save up for a down payment for a house let alone a down payment for an investment property,
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