In the podcast episode “How to Overcome Your Fears” from The Investor’s Guide to Joy, host Paul Graham interviews Ryan Smolarz, who discusses his transition from medicine to commercial real estate and how he overcame his fears to achieve financial sovereignty. Ryan emphasizes the importance of mindset in investing and how shifting from a consumer to an investor mindset helped him gain control over his financial future.
Ryan’s journey began when he realized his lack of financial control despite his medical career. This epiphany led him to pursue business school, where he discovered his passion for commercial real estate, specifically in self-storage investments. He highlights how curiosity, rather than ego, drove his success in the field, allowing him to focus on relationship-building rather than purely transactional deals.
Throughout the conversation, Ryan and Paul explore the value of aligning investments with core competencies and how understanding and managing fear can lead to better investment decisions. Ryan stresses that fear often stems from a lack of understanding, whether it’s about the investment itself or the people managing it. By building genuine relationships and gaining a deep understanding of the investments, Ryan believes investors can achieve financial freedom without being paralyzed by fear.
Ryan also contrasts transactional real estate with relationship-focused capital raising, noting that the latter approach has been more fulfilling for him. He shares his experiences in self-storage, where he looks for off-market, value-add opportunities that align with his expertise. This strategy has allowed him to build a successful investment portfolio while helping others achieve their financial goals.
Highlights of the Podcast
00:28 – Ryan Smolarz’s Background and Transition to Investing
02:08 – Discovering Passion for Investing
04:06 – Mindset Shift and Financial Sovereignty
08:15 – Ryan’s Investment Journey in Self-Storage
12:17 – Importance of Mindset in Investing
14:44 – The Role of Relationships in Commercial Real Estate
15:26 – Commercial Real Estate vs. Capital Raising
18:20 – The Importance of Being Genuine
20:51 – Evaluating Investment Opportunities
24:29 – The Investor’s Journey
29:46 – Self-Storage Investment Strategy
32:24 – Mindset and Mantra for Success
Key takeaways from the episode include the importance of mindset in overcoming fears, the role of genuine relationships in successful investing, and the benefits of focusing on core competencies. Ryan’s journey serves as an inspiration for those looking to transition into investing, emphasizing that financial freedom is attainable with the right mindset and approach.
