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David Wieland is CEO and founder of Realized, a wealth management firm that helps individual property owners convert investment property into a wealth solution. Over the past three decades, David has co-founded and helped manage over $3 billion of institutional real estate and capital markets through various capital venture firms, including Centrist Capital and Convenience Retail Group. David, a Texas A&M graduate who lives in Austin, Texas, enjoys time with his wife and three children while spending time outdoors fly-fishing, mountain biking, or working in his koi pond.
For more with David Wieland, check out our in-depth interview.
If you had to be shipwrecked on a deserted island, but all your human needs -- such as food and water -- were taken care of, what two items would you want to have with you?
I would have my wife; she's not an item, but I would have her with me. And my computer.
What was the last book you read, and what was your takeaway from it?
The Fourth Turning: An American Prophecy -- What the Cycles of History Tell Us About America's Next Rendezvous with Destiny by Neil Howe and William Strauss. The whole takeaway is how history, whether socioeconomic, spiritual, global just follows trends along with generations and predicts the future. The cycle goes through four generations, then there is a large reset where society changes fundamentally. It happened at the end of World War II, the end of the Civil War, and the Middle Ages, which brought the Renaissance.
Who would you rather have as a tenant: a boutique kombucha shop or a zombie apocalypse store?
Boutique kombucha shop -- I'm a kombucha fan. There are health benefits, and with all of the different flavors, I think the trend will last.
If you could meet just one person from history, who would it be?
John Maynard Keynes, the economist. His revolutionary thinking changed the way that business works. Our economy, how the government operates, and the basic framework for capitalism in many ways is tied back to him. He's a fascinating figure, especially as a student of economics.
Okay, wait; can I change my answer? If so, I would love to sit down and have a glass of wine with Jesus Christ, the most influential single individual in human history.
What concerns about the current economy's future keep you up at night?
What concerns me most is that in a downturn in the economy, there are declines in the value of assets. Investors, particularly those approaching retirement or in retirement, may feel pressure to sell their real estate holdings to combat lost revenue or declining values in an already low-interest environment, without thinking about how to reinvest or how to transform that wealth into another tax-efficient pool of assets that meets their retirement needs.
Older families with real estate-accumulated wealth are making short-term financial decisions that have long-term impacts on their lifestyle during retirement. It's tough to watch this happen, particularly in an environment where they are forced to sell and they aren't thinking through all of their possible options.
Unfair Advantages: How Real Estate Became a Billionaire Factory
You probably know that real estate has long been the playground for the rich and well connected, and that according to recently published data it’s also been the best performing investment in modern history. And with a set of unfair advantages that are completely unheard of with other investments, it’s no surprise why.
But those barriers have come crashing down - and now it’s possible to build REAL wealth through real estate at a fraction of what it used to cost, meaning the unfair advantages are now available to individuals like you.
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