Wealth Independence Podcast

In this Independence Day special episode, Dustin and Adam break down a three-step framework for making your own personal declaration of financial independence. They explore how to break free from single income sources and stock market-only portfolios by building multiple cash-flowing income streams through real estate syndications and private placements.

Discussion includes the power of fractional ownership (via syndications) versus...

Dustin and Adam sit down with Bob Fraser, co-founder and CFO of Aspen Funds. Bob, a Berkeley computer science graduate and former programmer turned successful entrepreneur, shares his journey from losing everything in the dot-com crash to building a private equity firm focused on macro-driven investing strategies.

The wide-ranging discussion includes the power of uncorrelated assets like real estate, oil and gas, and private credit ...

Dustin and Adam tackle the common concerns and misconceptions that often keep high-income professionals from exploring private real estate investments.

If you've ever wondered why your financial advisor steers you away from private placements or why these “unregistered securities” sound so risky, this episode breaks down the reality behind the (mostly unfounded) fears.

The hosts explain why most CFPs aren't trained in alter...

Dustin and Adam are joined by Ellis Hammond, Vice President of Capital at Aspen Funds, who shares his unique journey from college ministry to managing capital for 850+ accredited investors. 

Ellis reveals critical insights that most passive investors overlook when evaluating sponsors and deals, including why asking about debt structure is more important than track record alone, plus the key questions that separate trustworthy long-t...

Dustin and Adam break down the concept of “infinite returns” – a powerful real estate investment strategy that allows you to recover 100% of your initial investment while maintaining full ownership of the asset.

They explain how the favorable debt available in real estate enables strategic refinancing and can help you pull out your original capital to deploy into additional properties – creating a snowball effect that accelerates po...

Dustin and Adam dive into a unique oil and gas investment opportunity that differs significantly from traditional drilling plays. Instead of focusing solely on tax benefits through new drilling, this deal centers on acquiring existing producing wells and strategically reinvesting cash flows from those wells to drill new wells, expanding the overall portfolio.

They begin by reinforcing their fundamental investment thesis for oil and ...

Join Dustin and Adam for a detailed walkthrough of a potential 20-unit studio apartment acquisition in Northern California.

The analysis covers an all-studio property located nine blocks from a major university in Chico, California. Adam and Dustin examine the property's financials, renovation potential, and strategies for increasing income through unit improvements and rent optimization.

Key discussion points include flood zone...

Dustin and Adam explore the psychological shift and risk tolerance adjustments required when transitioning from investing with outside income (such as from a job or business) to living solely off investment returns.

They contrast the security of adding to investment principal from W-2 or other active income against relying entirely on investment returns, and share insights on why real estate provides stability during stock market vo...

This week, Adam and Dustin explore the transformative power of compounding in investment strategies.

Drawing insights from Morgan Housel's 2023 book “Same as Ever,” they discuss why investors achieving consistent, moderate returns typically outperform those chasing spectacular gains over the long term.

The conversation provides practical wisdom on how breaking compounding through capital loss can devastate your wealth-building t...

Are you hesitant to venture beyond familiar investments? In this insightful episode, Dustin and Adam explore the critical balance between understanding investments and expanding your portfolio.

They challenge the common advice of “don't invest in what you don't understand” by emphasizing that investors should view knowledge gaps as opportunities for growth rather than permanent barriers. Through compelling examples – from ...

This week, we welcome former software engineer Daniel Holmlund, who shares hard-won insights on building a diversified passive income portfolio in today's challenging economic environment.

Daniel, a former Intel engineer turned full-time investor, explores practical strategies for balancing liquidity needs with higher-return investments. Our discussion covers unique investment opportunities beyond traditional real estate, from ...

Dustin and Adam explore oil and gas investments as a strategic alternative to traditional real estate for passive investors.

They break down how these investments offer significant tax advantages – including possible 80%+ first-year deductions against active (W-2) income – while generating meaningful cash flow with targeted capital returns within 24-36 months.

The conversation covers critical due diligence factors when evaluating ope...

Dustin and Adam tackle the misuse of the Internal Rate of Return (IRR) in investment decision-making, explaining why relying solely on IRR can lead passive investors astray, especially when comparing different types of real estate investments.

The discussion breaks down how IRR calculations can be easily manipulated through uncontrollable assumptions, why timing of cash flows dramatically impacts this metric, and when IRR might actu...

Join Adam and Dustin in an insightful conversation with Robby Butler, Managing Director of Y Street Capital, where they explore Robby’s transition from philanthropic fundraising to real estate development and syndication.

Robby shares valuable wisdom about investor alignment, long-term vision setting, and what sophisticated family offices look for when vetting syndicators. He offers practical insights on evaluating sponsor teams, un...

Dustin and Adam challenge the widely accepted notion that “making more money means paying more taxes,” revealing how successful investors strategically follow the tax code as a playbook rather than viewing it as an unavoidable burden.

The hosts share practical strategies such as real estate professional status, oil and gas investments, and equipment depreciation, and how a combination of these approaches has allowed Adam to legally ...

Dustin and Adam tackle recent stock market volatility and why real estate provides superior shelter during financial storms.

Government spending cuts may create short-term market turbulence, but rental income historically remains stable through economic uncertainty. And while stock portfolios can lose significant value overnight, income-producing properties continue generating predictable cash flow – historical data shows tenant pay...

In this eye-opening episode, Dustin and Adam tackle the fundamental flaws in traditional retirement planning that leave even wealthy retirees fearing they'll outlive their savings.

They analyze recent research showing that half of retirees worry about outliving their nest eggs, and explain why the conventional "save-and-drawdown" model creates psychological stress regardless of portfolio size. They explain why the bet...

This week, Dustin and Adam explore the potential implications of President Trump's proposal to eliminate the federal income tax in favor of tariffs.

Beyond the political conversation, the discussion includes how such a fundamental tax code change might impact real estate investors and passive income strategies. Would the elimination of income tax diminish real estate's tax advantages or create new opportunities?<...

In this value-packed episode, Dustin and Adam dive into a topic crucial for passive real estate investors: strategic education and building the right network.

They explore the balance between continuous learning and taking action, sharing personal insights on avoiding "analysis paralysis" through education. They also discuss how joining investment groups and masterminds has transformed their real estate businesses, providi...