Real Investor Radio

Episode 32 | Austin Carroll – Building Generational Wealth and Pivoting to Commercial Real Estate

February 13, 2024

Episode Summary:

In this episode, Craig Fuhr and Jack BeVier interview Austin Carroll on building generational wealth through business growth. Carroll shares his journey from residential to commercial real estate, including co-working spaces for sustainable income. They discuss the importance of recognizing and nurturing unique personal gifts, which Carroll aims to instill in his children. Carroll explains the balance of guiding children’s careers without imposing too much direction, allowing them to find their strengths. The conversation covers Carroll’s focus on simple, profit-driven models, such as those in self-storage, for steady returns. They also discuss Carroll’s patient, long-term approach to success. The episode ends with insights on profitable deals and the importance of combining financial strategy with personal growth.

Overview of Episode 32

Craig Fuhr, Jack BeVier, and Austin Carroll discuss building generational wealth as creating resources that last beyond one generation. Carroll shares that real generational wealth means enough resources for two generations, even if they make mistakes.

The Rockefeller Model

Carroll explains the Rockefeller model: using life insurance to grow family wealth sustainably. This setup provides financial security if future generations struggle.

Teaching Values to Sustain Wealth

Carroll highlights the importance of family values in building generational wealth. He emphasizes quality time with his kids to foster resilience and responsibility, essential for long-term wealth preservation.

Contrarian Investing for Generational Wealth

Carroll shares how he seized undervalued commercial real estate during the pandemic, following a contrarian approach that fuels generational wealth.

Expanding into Co-Working Spaces

Carroll’s investment in coworking spaces supports income continuity, ideal for building generational wealth as flexible work demand grows.

Final Insight

Investors should align financial strategies with family values for sustainable generational wealth.