Creating intergenerational wealth through property, with Rob Panetta – Ep. 78

For the latest episode of this bonus series of the property investing journey, Mike is joined by Managing Director of Lux Buyer’s Agents, Rob Panetta to discuss the topic of building intergenerational wealth and why Rob is passionate about building a portfolio that will enable him to help his family and children.

Raised half by Italian immigrant grandparents while his parents worked hard to provide a better life for himself and his sister, Rob was exposed to the immigrant work ethic from a young age. He took this work ethic and applied it to educating himself on the fundamentals of property investing and went on to be the first in his family to build a multi-property portfolio.

With all he has learned, Rob is passionate about building a portfolio that will sustain for future generations, and for helping his clients to do the same. In this conversation, Rob and Mike talk about the strategy that Rob employs to build out his investments, and how he uses debt to create a greater asset base.

Rob explains why he thinks education is so important, whether it be via books, podcasts, courses or other means, and why he thinks having financial literacy and teaching children the same, is critical in the path to success.

With clear examples and practical steps, this episode is filled with valuable guidance for both the beginner and seasoned investor. Whether you have one property or are on your way to double digits, Rob’s philosophy will have you thinking about your investment strategy from a new perspective.

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Mike is joined by Managing Director of Lux Buyer’s Agents, Rob Panetta to discuss the topic of building intergenerational wealth and why Rob is passionate about building a portfolio that will enable him to help his family and children. Rob was exposed to the immigrant work ethic from a young age. He took this work ethic and applied it to educating himself on the fundamentals of property investing and went on to be the first in his family to build a multi-property portfolio.

• Using debt to build equity
• Developing a portfolio that enables you to help your children
• The steps to achieving generational wealth
• The power of self-education
• Why Rob believes in starting with established properties
• Making sacrifices now to reap the benefits down the track
• Rob’s top three tips for building intergenerational wealth

“The reason was my parents were constantly working and trying to provide a better life for me and my sister, so I will be honest we didn’t come from much. Everything I own I’ve had to work for and pay out of my own pocket” Rob 1:16

“Debt is actually your friend. It will help you leverage and get your next one and the next one after that so you don’t necessarily have to pay down that debt to get ahead” Rob 5:25

“Having children has changed my mindset completely on life as well as property. I find myself focusing on the bigger picture and less on the small insignificant things in life” Rob 6:33

“I’ve always been a firm believer in investing in established properties when you are starting to build out your portfolio” Rob 12:14

“It’s good in the good times but when it’s vacant and you’ve got no tenant and you’re paying two mortgages that’s when things start to become a bit difficult so it’s just something to think about when dealing with these higher high net assets“ Rob 17:42

“Nothing great comes from being comfortable. It’s in the uncomfortable where you will be rewarded. Now I’m not sure if that is a quote but if it’s not it is now” Rob 20:56

 

Links mentioned

https://www.linkedin.com/in/luxbuyersagents/

https://www.pizzaandproperty.com/

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