In this episode, Lloyd James Ross, a seven-figure investor and entrepreneur, dives into the controversial topic of homeownership, specifically why he, as a multimillionaire, chooses not to own a house. He discusses the common pitfalls many face, such as being trapped in old money habits and the financial stress that comes with heavy mortgage commitments. Lloyd emphasizes the importance of investing in oneself and building additional income streams, rather than tying up finances in property. He shares insights on mindset and strategies for achieving financial freedom, making it clear that true wealth comes from making your money work for you. Tune in to discover Lloyd's unique perspective on property ownership and wealth-building.

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Timestamps

[00:00:00] Introduction

[00:01:02] Why I don't own property.

[00:03:00] Renting vs. Home Ownership.

[00:08:30] Mortgage and financial freedom.

[00:12:01] Diversifying income streams for freedom.

[00:14:01] Buying properties for wrong reasons.

[00:15:28] Lifestyle over property investment.

[00:18:27] Business decision over property investment.

[00:21:38] Changing investment strategies for millennials.

[00:26:37] Renting vs. owning philosophy.

[00:27:50] Building wealth strategies.