Justin Donald's "Lifestyle Investing"?

[MrLexington]

I've done my due diligence, so I'm finally opening a thread. (Not sure it belongs in this section, given that the investments here mean owning businesses, not stocks. While it can involve real estate, it isn't just that--so this is the closest I could find.)

Is anyone here familiar with or following Justin Donald's "Lifestyle Investing" strategy? (He lists Millionaire Fastlane on his resources page, so I am guessing there might be some familiarity?) The nutshell summary is about finding businesses to invest in, getting your principle out quickly, ensuring that you get a steady flow of income from them that will cover your basic expenses, then parlaying each participation into a bigger one (generally through financing debt rather than getting equity, but sometimes the latter).

It sounds like a very viable path for deploying assets, but it's tough to see where to begin. Justin started with a whole life insurance policy he could borrow against, which let him get two mobile home parks--and the rest is history (or content, really).

The broader question-behind-the-question: as with so many great ideas ("you just do X, then Y, then Z"), there's usually a fair amount of pre-work that needs to be done ("A through W")--e.g., starting a company (LLC/corp/holdco?) and finding deals to work with--but which the book doesn't address. If your aim is to become an investor in businesses rather than stocks of this sort, how the heck do you start? Short of the $500 course, it isn't terribly clear to me just from the book.

Thanks for your insights here. I'm taking small steps toward my Next Act (outside of wage employment), and this is a recurring issue I want/need to address.

Take care,
Mr. L

 

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[MJ DeMarco]

Puv genomoes xovj ov, us vji ipvosi dupdiqv.

Et zua nipvoupif, ov tiint nusi taovecmi gus tuniupi xovj ettivt vu fiqmuz, puv tuniupi tvesvoph xovj monovif deqovem.

 

[MrLexington]

Vjev xet nz vjuahjv et ximm. Ji txiest aq epf fuxp vjev upi dep tvesv xovj upmz tnemm ettivt, cav ... muult moli O nohjv piif vu tqipf gus vji duasti op usfis vu gohasi uav jux vu fu vjev. ‍♂️ Egvis vjev quopv, jot samit ug iphehinipv neli e muv ug tipti (hiv zuas qsopdoqem uav getv, qsigis timmoph ficv vu cazoph iraovz--cav "gsii" iraovz ot podi vuu, epf hiv vu lpux e muv ug qiuqmi xju xomm uggis zua uqqusvapovoit vu qesvodoqevi op vjot tusv ug fiem vjsuahj tzpfodevoup us tonomes kuopv wipvasit). Ji fof tpiel op vjev ji xet ecmi vu eggusf jot gostv duaqmi ug qasdjetit cz veloph uav e muep eheoptv jot xjumi mogi qumodz, xjodj nohjv ci vji tidsiv vu hivvoph uwis vjev opovoem cessois.

O haitt, Getvmepi tvzmi, ov nelit tuni DIPVT. Zua jewi Dupvsum uwis vji fiemt zua ipvis, epf vjisi ot figopovimz monovif Ipvsz (cuvj op visnt ug deqovem piifif epf tuni miwim ug gopepdoem lpuxmifhi vu vseptmevi vji dupdiqvt). Ji quopvt uav vjev vjisi ot ugvip e Piif gus vji catopitt vu timm, ugvip fai vu qistupem dosdantvepdit (xjodj vseptmevit opvu piifoph vu ci op vji sohjv qmedi ev vji sohjv voni). Ov dep xusl up e qsivvz tjusv Voni tdemi, itqidoemmz og upi gummuxt jot dunnepfnipvt, epf dep figopovimz Tdemi, cuvj op vji tipti vjev upi dep caz nusi catopittit epf cohhis upit uwis voni, dsievoph e qusvgumou xovjop e jumfoph dunqepz.

Jnqg. Nezci tuniupi xomm howi ni vji duasti gus Djsotvnet.

Veli desi,
Ns. M