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Building Passive

                                                          Income Through

                                                                            Real Estate

                                                                           by Brian K. Wright

        I had the honor of interviewing Stuart Gethner, and we discussed how he got started in real estate investing,
        what a great deal looks like, and who he likes to partner with.

        Brian:  Welcome, Stuart, great  I hoped to have enough gas to get  So, I went looking for the easiest
        to have  you here!  You  do real  home. When we got to the Squaw  way  to  create  passive  income.
        estate  investing,  but  your  past  Peak freeway and Camelback, the  Passive income does not mean
        life  consisted  of  you  being  a  yellow light  on the gas  was no  no work. But it means that I could
        pharmacist. Tell us about that and  longer  flashing,  it  was  now  solid.  still  work  as  a  pharmacist  and
        how  you  pivoted  to  real  estate  Now I knew I needed to get some  then  generate  income  while  I’m
        investing.                           gas.                                 sleeping,  while  I’m  on  vacation,
                                                                                  and while I’m filling prescriptions.
        Stuart: In  my  previous  life,  I  was  I pulled into 7-11 at 32nd Street  And to me, it became real estate.
        a pharmacist. My daughters were  and Shea and hoped there was still
        eight and  six,  and  I  was  going  room on my Discover card for gas.  I educated myself as much as I
        through a divorce. My ex got the  I put the credit card in, then pulled  could on real estate investing, and
        MasterCard and I got the Discover  it out. I remembered that my gym  here I am today.
        card.                                bag was in back seat, and I knew
                                             I  had  a  few dollars  in  there  in  Brian:  What  does a good deal
        Every  February,  we’d  go  to  the  case  my  Discover  card  would  be  look like?
        Renaissance Festival and I knew my  rejected.  Thankfully,  the  pump
        Discover card was up against the  said accepted.                          Stuart: We  look  at  deals  that
        limit. So, I bought tickets at Fry’s,                                     create  positive  cashflow.  Good
        and when we  got  there, we  had  I didn’t know when I’d have money  deals right now are single family
        those  giant  turkey  bones,  drank  to pay the Discover bill down, so  residences,      condos,    vacation
        water, and got henna tattoos.        I decided I would top it off. After  rentals,  and  multi-family  where
                                             a  click,  I  squeezed  it  some  more  we try to make between $300 and
        While we were on our way home  and all of a sudden, the thing back  $500 a door.
        to north Phoenix, we were on the  splashed. I had gas all over me.
        60 freeway and I noticed that the                                         For example, if it’s a fourplex, we
        yellow light started to blink on my  I thought to myself, “Pharmacists  want  to  make  between  $1,200
        gas gauge.                           do very well for themselves, but I  to  $2,000  per  month.  Positive
                                             maxed out my credit cards—there’s  cashflow is important.
                                             got to be a better way.”

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