This interview is with Keith Sant, Founder & CEO at Kind House Buyers.

Keith Sant, Founder & CEO, Kind House Buyers

Keith, could you share a bit about your background in personal finance and what led you to this field?

My journey in personal finance began early on, when I was still a student in college. Growing up, my family struggled with money, and I saw firsthand the impact it had on our lives. This motivated me to learn more about how to manage my own finances and make smart investments. While the job provided stability and a steady income, I always had an entrepreneurial spirit and wanted to explore other opportunities. That's when I stumbled upon real estate investing. It seemed like the perfect fit for me - being able to combine my passion for personal finance with my desire to build wealth through investments.

What were some of the pivotal moments in your journey that solidified your passion for guiding others towards financial well-being?

One pivotal moment for me was when I met a mentor who had achieved great success in real estate investing and was also passionate about helping others achieve financial freedom. He took me under his wing and taught me valuable lessons on how to create a solid investment strategy, manage risks, and build long-term wealth. This experience solidified my own passion for not only building wealth for myself but also helping others do the same.

Another key moment was when I purchased my first commercial property. It was a big risk, but it paid off tremendously and gave me the confidence to continue investing in real estate. Seeing the positive impact that these investments had on my own personal finances further fueled my desire to share this knowledge and help others achieve financial well-being through real estate investing.

Can you recall a time when you had to navigate a complex financial challenge in your own life, and what key lessons did you learn from that experience?

Yes, there was a time when I faced a major financial setback in my personal life. It was during the 2008 recession, and like many others, I experienced significant losses in my investments. This was a difficult and challenging time for me, but it also taught me some important lessons. A crucial lesson I learned was the significance of diversifying my investment portfolio. Prior to the recession, I had most of my investments solely in real estate. However, when the market crashed, all of those investments took a hit at once. This experience made me realize the value of spreading out my investments across different industries and asset classes.

Many individuals struggle with sticking to a budget. From your expertise, what practical advice would you offer to help people create a realistic budget they can actually maintain?

Before you set a budget, it's important to understand where your money is going. Keep track of all your expenses for at least one month - this will help you identify areas where you may be overspending. From there, create a budget that takes into account your fixed expenses (such as rent or mortgage payments) and essential living costs. Then, allocate a portion of your income towards savings and investments. One practical tip is to automate your savings and investments - this way, you won't even have to think about setting aside money each month; it will be done automatically. Also, don't forget to leave some room in your budget for discretionary spending - this can help prevent burnout from sticking to a strict budget.

Unexpected expenses can derail even the most well-planned budgets. How do you advise individuals to prepare for and manage these financial surprises?

It's important to have an emergency fund set aside for unexpected expenses. This should ideally cover three to six months' worth of living expenses. If you don't already have one, start by setting a monthly savings goal towards building your emergency fund. In addition, regularly review your budget and make adjustments as needed. This can help you stay on track and also identify areas where you may need to cut back in order to save more for unexpected expenses. For larger unexpected expenses, such as major home repairs or medical bills, consider creating a sinking fund. This is a separate account where you can save specifically for these types of expenses over time. By planning ahead and setting aside money each month, you can better manage these financial surprises without disrupting your overall budget.

Investing can seem daunting, especially for beginners. What steps would you recommend someone take to start investing wisely, even with a small amount of capital?

Before jumping into investing, take the time to educate yourself on different investment vehicles and strategies. Resources such as books, podcasts, and online courses can provide valuable knowledge and insights. Don't feel pressured to invest a large sum of money right away. Begin with a small amount that you are comfortable with, and gradually increase your investments as you gain more experience and confidence. It's also important to diversify your investments and not put all of your money into just one asset or industry.

The financial landscape is constantly evolving with new technologies and trends. How do you stay updated on these changes and adapt your financial strategies accordingly?

Networking with other professionals in the industry has been incredibly valuable for me. Not only does it provide opportunities for learning from others' experiences, but it also allows for potential collaborations and partnerships. I also make sure to stay informed through various resources such as financial news outlets, conferences, and online forums. In addition, I continuously educate myself by reading books, attending workshops and seminars, and staying updated on new technologies and trends in the finance world.

What are some common misconceptions about personal finance that you often encounter, and how do you address them with your clients or audience?

A prevalent misconception is that financial stability and wealth are attainable only for those with high incomes. In reality, anyone can improve their financial situation by making smart decisions and being intentional with their money. I address this misconception by emphasizing the importance of creating a budget and setting financial goals. Even small steps, like cutting back on unnecessary expenses, can make a big difference in the long run. Another misconception is that investing is only for the wealthy or experienced individuals. I often encounter this belief among first-time investors who are hesitant to enter the market. To address this, I highlight the accessibility of different investment options, such as low-cost index funds or robo-advisors, which require minimal knowledge or capital to get started. I also stress the importance of starting early and staying consistent with investments, rather than trying to time the market.

Looking ahead, what emerging trends in personal finance are you most excited about, and how do you see them shaping the future of financial well-being?

I am most excited about the increasing use of technology in personal finance. With the rise of fintech companies and apps, individuals now have access to tools that can help them manage their finances more efficiently and effectively. From budgeting apps to investment platforms, these technologies are making it easier for people to take control of their financial well-being.