As the cost of living continues to rise, it is becoming harder to sustain your life living paycheck to paycheck. This makes building generational wealth more important to all of us. Generational wealth provides financial stability for you, your children, and generations to come and gives you freedom and security. With generational wealth, you don’t have to worry about paying your bills or whether you can afford to quit that job that doesn’t fulfill you and there are different ways to create it, including investing in Real Estate. This is where Super Dave comes in.
Dave Ngo, popularly known as ‘Real Estate Super Dave,’ is a real estate agent and entrepreneur who is on a journey to build his generational wealth. He also helps others create generational wealth through real estate.
He says his goal is to build wealth that survives more than one generation as he shows other young entrepreneurs how to do so.
It is estimated that around 70% of the generational wealth does not make it past the second generation. According to Real Estate Super Dave, this is largely a result of poor planning.
Most people make the wrong investment decisions, and with the high inflation rate, this wealth disappears by the time it reaches the second or third generation. Dave Ngo is working to solve this problem as he shines more light on how to build generational wealth, particularly through investing in property.
Being one of the most renowned real estate agents in the Bay Area, Dave shares his journey to show others that it is possible to start from the bottom and build a flourishing empire. Besides working as a real estate agent, Dave owns an event planning company. He is the Founder and CEO of Bay Area Bartenders, a company providing bartending services around the city.
Dave is also the CEO of Alert Security & Patrol, ASP Security Training, and BAB Mixology School. Dave has managed to build all this with no financial support. He now tells his story to help and encourage others looking to start their journey of creating long-term wealth.
Dave believes that making calculated risky decisions and learning from mistakes is the foundation of generational wealth, and this is where his journey began. Dave’s parents are a bit cautious and were scared to be entrepreneurial. As a result, their focus was to stay safe by not taking any risks.
While staying in your comfort zone is safer, the reward would be smaller. This is something that pushed Dave out of the cage, and he decided to go all in. Dave believes in taking calculated risks and making investments that will bring greater returns. This is the very mindset that led him to real estate.
According to Dave, there are multiple reasons for choosing real estate as a hedge. Compared to having your money locked up in the bank, an investment like real estate yields higher returns. Aside from this, the asset class of real estate has lower volatility. It also has a low correlation to stocks, which can improve the risk/return profile of a portfolio, making it one of the best ways to create generational wealth.
Having been in the real estate field for years, Dave is now leveraging that experience to help others understand the real estate market and how they can build generational wealth through it. Currently, he is sought-after in the Bay Area, but shares his expertise with realtors all over the world through his online content.
When asked what his advice is for anyone starting out in property investment, Dave suggests that you need to map out the real estate process: align your expectations, be prepared for the bumps, and be aware of the costs.