BTM171: Escape the High Wage Earning Trap with Dr. Jeff Anzalone
What is going on the people before we get into the episode I just WanNa, extend a personal invitation from me to you to come in join me on my brand new live masterclass. So as many of you know I've been investing in real estate since the day I became an entrepreneur. Growing my passive income to replace my job enlist in two years and owning or being part of deals ranging up to forty million dollars and personally coached over seven hundred students over the past four years over time period I've discovered the exact things that differentiate the wildly successful investors from most investors the ones that struggle that never get deals done that continue to stay at the starting line. So this brand new masterclass that I'm inviting you to over at before the millions dot com slash masterclass is really a culmination of everything I've learned. Up until this stage from starting to managing and growing passive and active income through real estate. So if you're still committed to making twenty twenty the year that you finally start in growing profitable real estate business, then I'm absolutely excited to invite you to this masterclass and help you potentially shortened that learning curve and become thriving investor faster and more profitable. If this is something that interests you head over to before the million dot com for slash masterclass. Seats are limited to one hundred and fifty people, and this is a live masterclass, and at the time of this recording, we just have to dates left on the calendar before this masterclass goes into the vault for good. So if you're interested in learning two of the most profitable strategies and real estate today, the key shift that disconnect your time from your income, the highest convergent approach to closing deals with the motivated tellers and the single most effective way to become a state investor in the historic twenty twenty. Two before millions dot com for slash masterclass. Now is getting to the show. Are you ready to be the master architect of Your Life? Are you ready to design your business and invest in needs that commute the lifestyle you've always? To, are you ready to learn from entrepreneurs and millionaires who have achieved a certain level of success? Hey, this is Derek Location Independent Entrepreneur, and you're listening to the before the millions podcasts. I am Gina Lofton I'm an investor and you're listening to the before the millions podcast. Hey, there my name is heather. Haven would marketing coach and Global Entrepreneur, and you are listening to the before the. PODCAST. Hey, this is mark with the host of the seven minute momentum podcast global entrepreneur, all round Geek and you listen to the before the millions podcast I am see lobster the cash linenger and you're listening to before the millions spot cost you're listening to the before the millions font cast a whether you're looking to invest more cash flow. All built an online business that allows you to be location independent you come to the right place Mr Hollywood. Himself presents the before the millions podcast. Now your host Diriye. going. On that people. Welcome Twain, brand new instalment installment one, seven, one of the BTM before the millions podcast welcome to the tribe I'm excited for this episode as I am excited for every single episode. But for every single episode I have a very different reason for my excitement. For this particular episode, it takes a look at the American dream and let me not call it an American dream. Let me call it an American reality. And? Although it may seem as though, this episode is geared towards high wage earners, which primarily is and you'll learn as a high wage earner what other high wage earners specifically Dr. Jeff on this episode is doing to invest his money and create passive income, but this episode is really for any and everybody who is Creating of income through their w two corporate job or they're professional job or Any way they see and. No matter how much money you may career you're making sixty grand a year or half a million dollars a year. You somehow find yourself. Tired. Worn. Ou- broke. Frustrated wanting to make more. As making more is going to alleviate you from all your troubles in your pain and I've went through this. Dr. Jeff Anzalone on this show has went through this and we're GonNa talk about some of his realizations throughout his process. Some of financial hurdles he's had to face what he's done to overcome them his roadmap to getting out of debt. and. Then once he got of that, he completely changed his philosophy because financial philosophy. And spearheaded a new philosophy to create passive income in addition to his active in Dr, Poe so pay close attention to this episode. Again, we're not giving financial advice but ultimately, if you can grab one or two nuggets in his financial plan that helps you take yours to the next level then we've done our jobs but by no means, should you participate or not participate in any offerings based on any of these episodes to your own due diligence and seek expert guidance? To raise tip of the week. So the other day, I was live inside of our facebook group for the maintenance tribe and. I mentioned three tips to help real estate investors take their business to six figures and beyond. And I wanted to share those with you here. Just in case you guys having get joined the group. Has If you're a budding entrepreneur and you're looking to take things to the next level here in two thousand twenty and beyond these tips will help you do that. In fact, I'm going to cover these tips in detail on my brand new masterclass that should already be signed up for but if you're not head over to before the millions dot com for slash masterclass. But tip number one to take your real estate business to from where it is. Now two six figures do not take these tips. Slightly number one is mindset you may be like, oh. Yeah I. Know that. Let's get to the good stuff weight. Because without this, you will not make it. There's an adage that I absolutely live by. Your Business is only a reflection of yourself. And until. You can work on yourself and improve yourself. Your Business has very little chance of improvement. So if you're a season subscriber, then you know how much mindset work we put into the content for these episodes. So I'm not going to be Labor that here but mindset is absolutely number one. You have to believe that you are six or seven figure entrepreneur. You have to believe that you are six or seven figure an investor. And then you have to take the actions in accordance with that belief. Systems, you can buy that. You can purchase that you can google and youtube that anywhere. But people don't make million dollar businesses just by Youtube in the system. You have to first start with that mindset and then do what it takes to get their. Number to build your team. This is absolutely imperative, build your team and many of us as. I mean the definition almost of an entrepreneur like we know what to be is just like the solo person working in a basement. Many. Entrepreneurs are a one man band where one woman band. And that's okay. I still operate my business primarily as a one man show. But what you have to understand is to get to the next level right. I'm trying to get you guys to six figures. To get to the next level, you can't do it by yourself. Press whether that's employing team members. Hiring virtual assistants putting in systems and processes that have automation. So that, you can focus on the profit generating activities. When when you could bring on a lender, we can bring on a contract or coach to help you take your real estate business in the next to work with contracts to make sure that you're doing everything according to Code you don't need a whole lot of skill and you save an immense amount of time doing everything in your business, every little thing. Rather delegating. and. You have people in your corner. So you don't spend your wheels against saving more time. Again guys, I covered this on my master class in detail had over before the millions dot com for slash master class so that I can show you how to build your real estate business from beginning to end. So you've all the keys you need in place. Again, mindset work is absolutely number one, number two, his building, your team. Number, three is going to be building your system. We're not in this for onesie Tuesday deals we're not in this to get a deal done and not know how to get another deal done right I mean many times that I deal falls in your lap. But to recreate that deal to make sure that it happens every single month. Go, have to has to be a system in place that predicts that measures. This I always like to use analogy of an ATM because that's essentially how we build businesses. Right. If I put five hundred dollars towards marketing what Kinda yield, what kind of return is that GonNa get me? So a five hundred dollars crates fifty leads whether that's through direct mail or cold calling. or driving for dollars just for gas but a five hundred dollars creates fifty leads and close to deals for every fifty leads. An. Average ten, thousand dollars a few every time I put in five hundred dollars I get out twenty thousand dollars. So that works out to be ten dollars a lead that means that I now know how much it cost me to get a lead and all I need to do is get twenty five leads to get one deal. Fifty leads gets to deals and I know that as long as I get twenty five leads. The law of averages says I'm going to close a deal. That's powerful profit generating stuff because now have the ability to control my income. Maybe I can figure out a way to get lead at nine dollars. Maybe the company that I was using for my postcards were overcharging and now found another company or maybe found a better paper that's cheaper or maybe I've created a list with higher quality leads whatever the case may be got some just giving you guys these small tweaks in examples because now if you're getting leads at nine dollars do not spending five hundred dollars to get the amount of lead you need to close onto deals. So. If I know my metrics, I can now control my income. I cannot tweak a few things to make thirty or forty thousand dollars. So system is absolutely imperative to take your business to six figures and beyond but you because you have to know how to control how much revenue your company is bringing in. Again. You cannot fall into six figures. There has to a plan in place, and if you want my plan to help you get to six figures, make sure that you are signed up for the masterclass. The masterclasses absolutely live and there's a Cuna portion at the very end. So we can get all your questions out and make sure that you are well on your way. That link one last time is before the millions dot com. Slash masterclass. And now your feature presentation. About two weeks before I finished my training. Surgical training. LSU Supposed to come here with a group practice want to move back to my hometown, raise my family, my family and relatives are here. So. For whatever reason the deal fell through? So. We had over three hundred, thousand student loan debt. A two month old. But the worst part is, I, had no clue how to start a business run a business a practice nothing. And we had already purchased a home. That that, we liked in our the neighborhood I grew up in. And, this was back before the you know the two thousand, eight real estate crash. So literally I just got on the phone onto a banker and he said I know the group going in with sign a paper or two, and you can have the house I mean that's the literally how easy it was back then so I was just paying interest only own a house with like nothing. as you can imagine, it was a bit tough then but Luckily, I network with some people they helped me out i. Started, renting from someone and he showed me the business aspect out of high school and College I had a lawn service. So I actually started mowing yards again. Just to make ends, meet a member knocking on a lady's door to hey, you remember may I used to mow your yard and just letting them? You know I can mow your yard this summer she said son. Aren't you supposed to be a doctor by now? Yes my but that's just how it is. You know. But We we set a goal to to pay off all the debts within ten years, and luckily we're able to at about seven seven and a half years. So That was Roku. Excuse me but we were skiing about. Five years ago I would say and we got off the ski. Lift. And this kid like cut in front of me like those ski schools or something and I like a dodge to not kill him and kill myself and when I feel like fellow my arm. And I and I kinda got up and was moving my wrist. and. My Wife's are you hurt us said Noah mob at that I think that incident started may thinking what would I do if I couldn't use my hands? Because I was just relying on my active income. And I mean, that's more important. You know your hands are more important than the average person right I mean they're freshness. Yeah I mean unless you're Michael Thomas or somebody you know using It's a ball, but but yeah, I mean, that's got a disability policy and that SORTA, thing but but other than that and actually i. Two weeks ago a orthopedic surgeon is a Sports Guy, my age forty, six call me. And said, he can't practice anymore. He got diagnosed with epilepsy and he can't operate and. What what what I do? So I think that was the first. Thing that just kinda started thinking you know what? I need to start looking into getting something other than just relying on my own active income from you know treating patients. So I started doing some research and there's all these you know Dr Side hustles this and that but everything kept going back to real estate. Real estate at an only real estate I knew about at that time was I bought my house. It's it. So that. That wasn't the best experience Nah. So that that's kind of what led me to down the path to start looking at you know passive income real estate, that sort of thing. Just before we move forward. Talk to me about the experience of going to your own neighborhood knocking on doors of your neighbors. As Dr Like it was at a humbling experience in kind of walk me through your mindset as you were able to actually do that people would be would. Succumb to that. Right. How did you? How did you warn you? What was the Self Talk Thank you if you're a redneck from, Louisiana really bothered too much. You know but you're right. It was very humbling. I think at that moment mob mob mindset shifted a think. More towards the scarcity mindset and it took me a while to get out of it because before. I was thinking you know, hey, I've got all this debt, but I'm in I'm in training. I'm going to get out and make good money. I'm GONNA, be able to pay it back. You know not a big deal. So you know was concerned about the debt at that point and the house no because you know I thought I was going to have some money coming in but once that incident happened it was just like literally switch I, went from, Hey, everything's gonna be cool abundant mode to lake survival mode. I I now you know with a wife and two months old, it was like. You GotTa do what you gotTa do just went back to my roots and and I've I've worked my whole life. You know since hours nine ten years old which you can. You can attest to that as well and it's just. Part. Of My DNA. So I didn't even. Really talking about it. Now I think people like, oh my Gosh I can't believe you went back yards but looking back on it was like I had no problem with it was humbling but Did. You GotTa do man you said that you thought. When you got to the end of the tunnel, right you got to eventually where you wanted to be in life that you would be able to pay off the massive student loans and you said that you thought that. So it seemed to me as though they ended up not being the case. That's what a lot of this thing like once I graduate right whatever our degree is our master's degree is our PhD is in right? Really believe that once we get to the other end of that. It's going to be okay I worked hard for this I worked hard to get to this point. I'm able to take these funds import back into the education that I paid for. Why maybe wasn't the case? Well. I was a hundred percent relying on that group to pay me a salary but also to teach me what I didn't learned the whole business side of it of running a practice hiring firing training, all of that. I. Mean the only thing that we know how to do we get out a medical school dental school nursing school whatever is just your trade. And, I think that's why we see more and more people not starting their own practices. Now, because number one, the debt you get at so much and so high number two You you just don't learn anything about he's still don't teach anything about a running a business a number three don't teach anything about money. I mean, don't teach anything about money and high school or college or you finances or. Not. You. Know you only thing that teach you about how to. How To you know go to school get a Job And Save for forty years in a our a four one K. and hope you've got enough you don't run out and that's that's what we're tall. That's that's all I. knew you know so but but now you it's it's totally different. Now just because I'm learning different things, you know from this person that Persian or your podcast or somebody else's book booker whatever and I'm able to to think. You know you did a podcast not that long ago about probably one of my favorite books, Polian Hill. Thinking grow rich well. Do you have to agree with one hundred percent of that book? No. But take a few things out take a few things from Dave Ramsey here or from Robert Kiyosaki from whoever and then you know think about it how it applaud to you. How would it make you better and then go forward So back in the day. Here's here's my here's my thought process. Jeff. I'm thinking that. You stumbled upon Dave Ramsey and you created a plan to get out of that bad debt and that plan have lasted. Three, four five years. Can you walk us through that process of getting out of debt whether it was Dave Ramsey or you created this plan on your own or how how you how you tackle that? Because I know many people out there are graduating college they just graduated of this massive amount of debt and they're trying to figure out should I should I pay off this debt shy invest in real estate? WHAT'S THE SMART OPTION? What are the smart choices in if I do decide to cough this debt? What's the best way to go about that process? So, walk us through how you did that. That's a great question I. Mean I think it all depends on your personal situation for me. I was lucky enough remember rod down the road a New Orleans You know flipping channels was like a am station which probably some of the listeners don't even know what that is but I. And it was his talk show and he wound up being him. And Like caller after caller had these stories I was like man I thought I was in a bad position, but you know these people were calling in. A eighty thousand dollars on May twenty, thousand a year. I have a trailer in a four wheeler and a truck and what am I going to do and so it's just like story after story like that. And then I you know. I you know I was twenty, six, twenty, seven years old fairly educated and that was the first time I'd ever heard somebody tell somebody else to save up and pay for a car. I I didn't think you could do it was just like will you go and you pay one, ninety, nine or two, ninety, nine, a month I was like what? Are you talking about saving up for a car? So it was just like. Who is this guy? But you know off and on listened to him a little bit read a couple of his book, the total money makeover but Kinda put it on a shelf and then when I got to the point where I had to. Really, get going and start digging out of debt while I dusted the the dust off the book and. Followed his baby steps seven baby steps to the T.. Pretty much. You know he's Banal looking at it. He's more for the masses Yo for the general public and it's great. You know for for people that. Have a lot of consumer debt. They don't really know where to start and he's like step one do this step one to do this so that that's what we did to to get out of. Consumer debt. After like you're already leading to my very next question because again you've you've sounds like you graduated from school of thought that help you in a pivotal moment in your life, right? Like have all this debt who's the best person? The best resource that'll teach me how to get out of this debt. Now, you're in a new place. You've gotten rid of that debt right? You've taken those principles similar to what you said about Napoleon Hill. There are some of those things that you can you can listen to when you can. You can internalize you can go out there and actually do some of those You're like you know what? That's not for me I. Don't know if I believe there are that's that's something my wheelhouse right when. You Cross that chasm and you've already paid off this. What are some of the things because you also namedrop Barbara cusack window some of the things that you you started to shift your belief in that may be Dave Ramsey taught you and you're like, okay. Well, let me let me let me go go in this direction because this morsel matches my beliefs in my my goals desires now on the other side. That's a great question and I think one of the main differences is. Day Dave is a real big pay cash for everything including real estate. Well, there's just a lot of people that can't do that. You know if you WANNA buy ten single family homes. It may take you your whole career to do that, and then even if you get ten ten homes cash and that's that's not. The you know that's that's great but it's just not. It's not really really great. You know as you know. So at a look at it from. What Allah you know what I like I can't push what I like on you and vice versa so that that's again that's why take different different. Things from different people and okay like this about him. I like about, for instance, Robert Kiyosaki. He is just like almost one hundred percent debt guy you know just I don't care if you'll have ten million or twenty million in debt a snow. Big Deal. This you know and Hey that. Doesn't mean you have to turn off the Robert Kiyosaki TV. Because guy makes some good points. I mean his rich dad poor book is I think. Number one if not, the closest. real estate financial book ever to be sold the most number of copies. But For me it was more of a kind of a mindset set. Shift from. Thinking I was going to have it all to scarcity big-time scare shitty survival mode to. Started to and I'm and I'm still work on it on a daily basis but just just really focusing on that abundance mindset you know you know when when the basically the world shut down in March of Twenty Twenty Way we weren't able to see patients for two months. And you know I'm own a bunch of financial forums for doctors in this and that, and just the comments just people. Didn't have any money and these are people that make good money. But you know as you know, wealth doesn't equal and income. In a lot of them were saying, hey man if I ever get out of this I'm I'm going back to the Dave. Ramsey no more consumer dead and I'm paying cash for everything and so again, they're almost going back to the scarcity mindset but. Luckily, we were able to. You know how to Rick Big Emergency Fund and you know had passive income coming in so but I think of that may a lot of people rethink their finances and maybe rethink Not. Just relying on one income source. So that I think that really woke people up. I've been doing this this interview segment on some of my most recent shows Jeff. It's helping individuals who are just getting started in real estate religious build out their system get the first deal Dennis fast as they possibly can and get them mental going. So a lot of the guests that I've had on the show recently, I've asked them a lot of these wholesalers people who are actively in real estate. I've asked him like if you had you know thirty days to completely start over resources. No anything no connections no capital how would you get your first deal done in the next thirty days? It's absolutely awesome. The answers that I've been getting now obviously, they're not really going to get that opportunity to start over and prove that they can do it. But. I wanted to speak to your son who's fifteen years holding what kind of mindset in frameworks you're putting in front of him for him to start in the best possible way that he can as he pursues his career as he pursues a lifestyle design, right? As he may be pursued money. What are you based off what you've learned I? Mean you've gone through a little different mindsets, right? It's just like do like I have this this knowledge I'm still learning more so much more from you to learn. But what what are you starting to put in place now to help your son grasp the concepts issue think are most important. We'll have a fifteen year old and a thirteen year old both boys and I'm not concerned about my thirteen year old at all. He's like his dad but his fifteen year olds like his mom you know I had one hundred dollars and I gave it to my thirteen year old. He would say, Okay With Dad, put this Ima- savings to counter put this Emma. Mutual Fund investors for me and Oh by the way. Can you give me twenty dollars? So I can go get some candy. I mean he's he's like he's not touching his money but. If I, give it to the fifteen year old. You would probably think well, okay he's going to spend it. No, he's already spent. A Fran Twenty dollars from let you know so but anyway, he He he when when all stuff shutdown march again, you know school shutdown and after a while you know he was just. He. LOVES THE WITH HIS BUDDIES and go out to eat this and that we said you know what? If you're at home, you don't have school you all money. You gotta work. So he wound up getting the job. Actually, two jobs a summer we haven't given them a dime and he's an specifically hopefully, he doesn't watch the show but. They? Got Him like you know just hard physical Labor eight ten dollars an hour to really see what it's like to work. So once he does get maybe a better job. You know maybe a nicer paying job will he'll have something to compare it to instead of just giving him some. Hey come come work off as I'll give you twenty bucks I mean. No. Thank you. so that that's one thing we're making them work. The second thing is that The cashflow. For kids game I got the cash flow the one for adults and it was a little bit. A little bit over their heads, they got it but the cashflow for kids game. That's a great thing to do to get your kids going. What, else my on my thirteen year old you know the goal is to get out of the rat race. Robert Kiyosaki gain and to get out of the rat race, you know get over tall the what's what? What you WANNA travel or stuff? So, of course, he beat dad he got out of the rat race I. Never. Forget this. He looked at me. He Says Dad. Are you still in the rat race. Nothing Yeah you see on the Bloor, his nose like no in real life. Are you still on the Rowlett? Right? Right rice I said. Abedin. I'm I'm working on trying to get out but I'm still I'm still a rat race and he said. That's gotTa suck it. So, so thirteen, he gets it. And I'd said, son I wish somebody would have showed me that yeah that's that's that's thirteen. That's crazy. I love that. That's such a great analogy and. Man That's powerful on haven't played cashflow guests nuclear. What do you think about the? One of the overarching concepts and cash flow and that. The. The in this is my premise I'm I'm curious to see what your premises but the best way to get out of the rat race in cash flow. To buy value stocks right by value stocks white. So you get you know in real life wait until they appreciate a wait until in the game, you get a car that that allows L. stocks to appreciate. Your like you're staking your claim on these values stocks over and over again team get those big cash pops right. What do you think about those concepts in real life and how were and how maybe you're applying that to escape the rat race or what you think about the strategies that you're using do that? That's a great question and I think for kids and and even your listeners just. Think about what what we spend our money on and about what we quote think is rich with back from Dallas weekend were. Getting. Ready. To close on two, hundred, fifty, two units with the Group apartment complex and one other thing that I that I do my kids I forgot to tell as we're down the road like, Hey, look you know look at. Those apartments going up or so that a mega aware that. Hey. They can. All these tenants could be paying your money whereas I never knew I mean, you don't think about that. Especially your kids you know. But. But but teaching, you know teaching them, you know about that about What. So we went to a restaurant and they were lamb bows ferraris. Some guy had a convertible Bentley and Jose got his license plates. It said drop top on it. You know so. What we think guys rich. So we think we have to buy stuff to be rich I mean that's that's the world we live in today you got the offer are you're rich? So what I'm trying to to get them to think of I think what that game that talking about casual? Game. He's trying to get you think of as. Focus on. Investing in assets first and then let that money spinning off of it pay for the crap. That you won't instead of what other people do by the crowd I and then they don't have any money invest in. Absolutely so that's what I'm trying to teach them. I love, and that kind of brings us back full circle with maybe some of your workers back in. Now March April like you said, everything was shut down for two months and they're starting to realize. Yeah making a lot of money. What am I really building like I I'm I'm frustrated. I'm angry I'm broke right And you know when you're in a totally different position because of the enlightenment and the experiences in your the exposure that you've had over the past odd years. So. Talking to that, we're no longer talking to your thirteen fifty year cable talking to people who are in a position to take. Action. Day. Right, which brings us back to what you do in the apartment space facebook. Those people that are in a position to take action today that they'd been slacking. They haven't been exposed yet. Right or maybe they've been they've been hearing. You haven't been listening to you. What are you? What's your advice to them? Now how do they get out of there whether it's going through your exact plan? Hey, get rid of all your duct through the Dave Ramsey method. Once you've done that you have two thousand dollars come back talk to me and let's talk about putting your money here like what what would that plan look like? I am I have these conversations. I've got Looking at Mugu cal three of them up tonight and I always ask is. What do you want? They're always like well, Jeff I won't passive income. I want some passive income and ask them why like? I don't know I just I just won't so will. Not. Going to happen what are you talking about US said until you specifically can tell me What's going to get you up every morning? You know kind of like if your four hundred pounds, he just had a heart attack at your doctor said if you eat another chilly dog own DA. You gotTa have something that's going to motivate you not just I won't pass a real estate income coming in and that's it. So I always talk to them. You know the Simon Sinek books start with Wa up. That's why I start with you. As you know, you've read that book. I'm sure star Wa, and that's going to be your motivator. What is it that you won't? and. Then that's that once you get it, it's easy to work backwards. It does work backwards new on an eight Let's say. Jeff I would love one hundred thousand dollars a year to live on. Okay. Perfect. Now, we have a goal to shoot for. We're. Going focus on getting. Assets that produces one hundred out eight, thousand dollars eighty, five, hundred dollars a month. Now, we can shoot for something. To work backwards but until they can you know? vocalise AD, it's tough. So. Let's let's say that the goal is is something right around there is very similar. I think that that's go that a lot of people can relate to. What does that process look like what in your world right I? Know it's different for every investor in every niche your world what's that? What's that next process look like to get them to eighty three hundred dollars a month. Well Some people WANNA focus own. Maybe just real estate you know for myself I take advantage of I like to be diversified. So my wife and I are practice she works here. We Max out our retirement accounts are index funds. So we're. You know we're we're investing in a course, a different segment of the market. But we're taking tax advantages. Of Practice. So we do that and then everything else we final it towards saving money towards a real estate specifically syndications you know pass because I'm I'm working full time so I don't have time to be a landlord. So. If you think about if you can get up about seven percent return on your money annually on these, that's making numbers up. Well, the Million Bucks at seventy thousand a year. So about another half amaze probably one point five billion. In syndications and that's about one hundred, thousand a year that's not including all the other benefits that come along with it but that's Brod what you? We know what somebody like that should be shooting for, and that's Dutch very realistic to get as you know. Yeah. So walk me through this I. Think this is where the in the interest of my listeners are peaked. So okay. So put aside one point five over what time horizon, where do you again these these individuals I'm assuming that you're talking to They've just recently gone through a process whether they already had dead now they've paid at all for their coming with coming to you with with no debt whatsoever. But is there like every three months? Hey, like make sure that you're saving up fifty grand in you know these are the opportunities that are presented to me. I'm going to present these to you and you can decide you know what like, how does what was next step in that process? Most most of the deals that I personally invest in their therefore accredited investors only and it's a fifty thousand dollar minimum. So. Based on the individual's income you know they may be able to save. enough to do maybe one a year some people to year More some people like to take money out of their four one ks that are doing nothing and put it in a May. Know maybe a self directed IRA or Or something like that to where they can invest that money. In to real estate so there's there's different ways that they could do that but just start putting money on the side I tell them and you know make it. You know it's got to hurt I. It's gotTa be. Oh. Crap I. I'll out of money coming out you gotta be if it doesn't hurt it's not gonna work so. I usually like to tell people to go try more. And that's too much and back back down. But you know if you could do at least thousand dollars a week and take two weeks off, you know it's fifty thousand a year. That's one. Do one a year. For Ten years will. That's. That's pretty darn good. But but I'll tell you this most people they. They think too small. As. You know you know you read the probably 10x grant card, own book Just I'm always ten x semi goals. You know I want to save a million this year or whatever what should be tim million will. More, than likely I'm not going to save ten million this year but that releases my brain to think. So much more as you know than just. Right here. I mean you can play that Parkinson's law. It's it's absolutely phenomenal. Guys how expanding our goal expands or mindset. Shrinking are timelag expands our mindset. So absolutely loved that there's so much. We can rip off of that but I think that the you laid it out just right now in terms of allocation is your what is your advice? I know that you may follow a certain set of principles because you're allocating your funds in different places but for somebody who's just now starting now they've they've come to you a few weeks ago they got the first fifty grand or hundred grand ready. What does at allocation was shit that allocation look like? Will again, it's it's different different strokes for different folks. It just depends on the person when I started off ours ninety eight percent in the stock market just index funds and I knew that I wanted. To my goal was to at least shifted to fifty fifty. Fifty percent in the market two percent real estate. Now we're moving mortuary it's going more towards real estate just because. It's just it's just doing so well for us even through the pandemic. Oh, yeah I mean it's I think. The the quote, the worst one of our deals have done, it's gone from monthly distributions to quarterly. So we're still getting paid but It's And it's really encourage Jamaica's her so much as you know, there's so much good that you can. Not only provide good safe clean housing for people. But. It's just once you explain this to somebody it's just like the lightbulb goes on it gives them hope. You know a friend of mine was a dentist here and Unfortunately he committed suicide last year. And part of it was finances and burn out. and. If you could just give somebody hope that you don't have to. If you hate your job, you don't have to do it forever. There's other things you can do for money. To me it's worth it. One of the reasons I started my blog so. Absolutely. This is this is amazing stuff and I want to get so much more into this but I definitely do WanNa, talk about the tax aspect of investing which I know you're well-versed at. So I mean, tell me tell me the advantages right? You talk to the typical doctor and they're not taking advantage of a lot of the tax breaks sicher taken advantage of right. Tell me some of these tax breaks in how high income earners could really utilize tax breaks We have we just really don't know about. Well first off, I'm not a CPA. So definitely consult with your CPA adjust. This is based on my personal experience with doing this and with the accounts that I know but As a doctor, you're. GonNa, probably pay after it's all said and done about fifty percent in taxes between federal state Medicare social security sales tax all that I mean we're just we're taxed to death. But but the thing is percent of your income taxes guys. I'm just repeating what you said o your income is going to taxes. And the issue is that's all we know. So we. What do we do? We WanNA get better. We WanNa make more money. So we go to courses seminars we bob books we do this and that. To make our. Active income higher. So we're just GONNA. Pay More taxes. So once you get, you know once you get to a certain level. I mean, you have to make so much more just to put more in your pocket just because you know as the tax rates are so. I've. I've learned that you don't have to make near as much money as people. Thank you. Do if you've got stuff on the side, that's that's giving you these tax benefits. And the probably the best. Thing that you're going to get out of a real estate knows depreciation. Cadillac you buy laptop right now. Five years later what's that laptop? Worth. Nothing basically because it. It goes down in value. The same thing with real estate the irs code was written four to encourage people to buy real estate. They want that they. It's like they're just giving you these gifts yet people don't want to do it and I just don't WanNa take the time to learn it if you don't WanNa. Take the time to learn it. Then you're not called reap the benefits from it. But So a perfect example would be if you if you invest, let's say one hundred, thousand dollars a syndication that Pettis. Eight percent a year well. Roughly. You'll get eight thousand dollars a year. And that's pretty much going to be tax free. Because of the they're able to depreciate. Asset which is going to offset your income. So you got to think about how much money you have to save. To spinoff eight thousand dollars. In income. It's it's a lot more than that. So, that's just one just one way. Of. Tax Benefits. You're talking to me as I'm looking at your your, you're wearing a face mask like we all are but I mean it's totally different reason you're going surgery gastro scrubs on. What what type of I have you have you built for yourself and what do you enjoy most about the life that US bill in this is kind of a question that asked at the very end but hopefully, we'll find some more negative at the very end, but I'm really curious as to. What you've done and how do you feel you happy do you now feel successful? You're in a totally different position than maybe what's the goal over the next few years to get to the next level? That's a that's another great question and actually. A local dentist call me two weeks ago and asked almost asked me that exact question because he'd been practicing almost as long as I have and he had some things change within his practice dynamics to where he's by himself now whereas he was with more people and he said Jeff. How can you help me with scheduling my day scheduling, my practice, my patient, and I said why was going on and he said I wanna I wanna work three and a half days a week and take off at three o'clock every day like you. And I just told him we'll use have to again is is comes down to planning. You know what's important you know working out lifting weights playing tennis you know playing basketball being there with my kids coaching my kids that comes first So I have to plan that Emma Day. So and I do that. So I plan my work around that. You know I get to work around seven in the morning and you know but if it's three fifteen, I'm I'm fifteen minutes late, a something's going on you know. So I mean I'm when I'm here I'm working. And and that's my goal. That's my priority. Again, what's once once they're out of the House and they're in college it'll. It'll probably be something different. But as of right now you know my families my priority. So I'm luckily able to work my schedule around that to do that. Hey, really quick. I just want to extend a personal invitation for me to you to come in, join me on my brand new live masterclass. So as many of you know I've been investing in real estate since the day I became an entrepreneur. Growing my passive income to replace my job enlist in two years and owning or being a part of deals ranging up to forty million dollars, and I personally coached over seven hundred students over the past four years. Over that time period, I've discovered the exact things that differentiate the wildly successful investors from most investors the ones that struggle that never get deals done that continue to stay at the starting line. So this brand new masterclass that I'm inviting you to curb over at before the millions dot com for slash masterclass is really a culmination of everything I've learned. Up until this stage from starting to managing and growing my passive and active income through real estate. So if you're still committed to making twenty twenty the year that you finally start in, grow a profitable rose they business. Then I'm absolutely excited to invite you to this masterclass and help you potentially shortened that learning curve and become a thriving investor faster and more profitable. If this is something that interests you head over to before the millions dot com for slash master class. Seats are limited to one hundred and fifty people, and this is live masterclass, and at the time of this recording, we just have to dates left on the calendar before this masterclass goes into the vault for good. So if you're interested in learning two of the most profitable strategies and real estate today, the key shift that disconnection time from your income, the highest convergent approach to closing deals with the motivated sellers and the single most effective way to become a Rosette investor in the historic two thousand twenty. Head over to before the millions dot com for slash masterclass. Lifestyle. Design Acceleration Hanks. What is your favorite before the millions book? I would say to books. You know it's something that I read every morning the Bible. And the King Solomon within that book the Book of proverbs literally anything you WANNA know about wisdom wealth debt. It's their man. I mean you you can ask me a question right now and we can go find it. So. That one and then liked the book that we talked a little bit earlier about Napoleon Hill's I mean girl rich if you can't beat them, join 'em he interviewed hundreds and hundreds of millionaires and billionaires back in the whatever it was twenties or thirties and noses common theme. So an those principles can still be used today. Absolutely. Love both and then I would say with. But. Then probably, the one that really got me to really start changing wasn't so much about real estate but it was about real estate was dad poor dad it just gets you start thinking. There is a different way to do something. Now, you have a, you have a a super big one, hundred dollars Bill I. Don't know if it's a poster or painting or you know it's a canvas I can't. It's a canvas. There we go. It's it's huge. What what what does that for? What does it represent? Somebody will story behind that Well, I. Don't know. If. I can take my camera and show you why Kinda one of the reasons that I did it is because All of my deer antlers used to be in the background. So when people would interview me they go. Do you have horns on your head look like? So and and I, saw this home this. Group that was doing it and that had those campuses like do that'd be so cool in my background. So you're actually the first podcast interview since I just put it up. So you're. As more of a you know there's not really much of a story money on your mind the money. I love it. I. Love It. Second question what is your favorite lifestyle design at this can be a business APP or tool. It's gotta be Google Calendars. TREADMILL. Yesterday, we were at the Ritz Carlton, in Dallas Own Little vacation with the family and checking out some apartments. And I'm on the TREADMILL I get vacation. I might I got a guy the plastic surgeon the most talk about investing if. I wouldn't have reminded me I would've forgot so. That's that's my GO-TO APP for sure. Absolutely I love that. What do you enjoy most about the way your lifestyle is currently designed and this is a follow up to the question. We asked general segment. Is I could set my tom on and with my interest right now is my family. So Most important thing to me now. So You gain by Tom. Time I love the what were the sacrifices that you knew you had to make before the millions to get to where you are today. Thought. And I was raised probably like you and your listeners that you had to work hard. Really really hard. But now I know that's not the case. You gotTa Work Smart. I wrote an article this morning that says, Hey, if you make ten thousand dollars a month and you want to get to twelve thousand dollars a month yet at that, you could possibly exert more effort. You know a few more hours here and there to get your goal but she wanted from ten months it's at thirty thousand dollars a month you can't just will that you can't just effort that like you have to operate from a new line of thinking right so a totally resonates what just been super powerful. Who was essential to your growth before the millions and why? There's a my dad went to high school with the guy here. That's probably the biggest real estate investor in our area. and. sat down with him last year and he's I. Think he's one of the few billion with a B.. Billionaires Louisiana and I had two and half hour meeting with him. I said I WANNA know about real estate and I walked out of there and I call my wife. I said I learn more in two and a half hours. Than I did in two years of college. No La. So he did he just completely open my mind like this this crazy. This is all it takes. Is One little moment that one little deal something that was just like. Boom. Thought I was going to say, yeah, we're we're scheduling conversation number two to talk about that conversation but but no, seriously so so Maybe just touched on it but. Walk me through maybe the biggest enlightenment the biggest moment that that conversation gave you. ANYB-. If you really won't something. You really can either find a way to do it or get somebody to help you to do it. I mean I'm not talking about something unrealistic light may ban the world's greatest quarterback at forty six years old physically. Couldn't do but I mean if you wanted to do something realistically like. Doesn't, agree. But but I've never thought about it. But if but if I truly set my mind to go I, want to be a billionaire. That's possible. In today's age I mean there's enough people enough resources. If that's really what you WanNa do you could do it. So there's don't let people tell you you can't do it because. As, you know the more successful you get more people try to bring you down kind of like that deal when people said, you get a bucket of crabs. You've heard that. Right Yup Yup Yup. Absolutely. You can just lay down their running everywhere when you put them in a bucket whenever one tries to get out what happens they pull them down. So that's how life is our. Yeah absolutely end. So that conversation for you was it was it more. So inspirational more how to. It was both it was probably seventy percent inspirational. But thirty percent out to. It just took that one deal that he had that he in Houston actually it was in Houston. one. Big It was A. Commercial Building Downtown that the company gone bankrupt. And GAC as uncle caught him up said, hey, there's a building downtown it was thirty million, he said. Like, you can get it for like seven million. He said, where am I going to get seven million from? So, he flew there and he offered the guy three million. They did have three million. Three million. So I'll get back with he said, he flew back to Louisiana guy called him. He said I'll take it. In like three years later, he sold it for like twenty something million. And he bought it for three He after that that was it. It was just like to the races have one deal. Wow. Wow. Yeah I'm glad we pulled out. That's absolutely amazing and super-inspection olive of that. Last but not least. Why do you think so many of us are stuck before the millions even though we have every intention of getting to the millions. That's easy. It's it's. It's either what you think about finances or money or or what you've been taught a what we've been taught our whole life from parents, teachers, coaches. Society. It's. It's. Just, the same thing over and over again, why do you think one percent of the nation holds ninety? percent. Of. The wealth. Is True and once once you start. Connecting with those people and realizing what they do every day then you'll know Why Perfect example is most millionaires have. Three to seven streams of income and read five to ten books a month. Do you do that. Well if you're listening to this, you probably GonNa say, no, we'll start doing it and watch what happens. There we have it ladies and Gentlemen Dr. Jeff anzalone doctor. This has been absolutely amazing if listeners WANNA learn a little bit more about you find out. What you're up to or come and get connected with some of the ways you're investing these days where can they go to find out more information? Probably the best places on my blog, it's debt free Dr Dot Com, and if you want to put a little guide together for your raiders, you can go to debt free Dr Dot com slash free guide. That will get you started and passive income. Ella and the links to everything that we discussed on today's show, we'll be in the show notes. Man This has been a powerful episode I can't wait to get this out Thank you so much what you do in the community. Thank you so much for the way you've done to porn to my audience, not only mining's what you've done across the. Airwaves to point the so many other people get their minds right to help them get their money right after we'll talk to you very. I appreciate it. But Man, what you're doing is phenomenal I mean I've listened to your podcast I've been on your website and. and. What's what's going on right now and I don't I don't know if people are seeing this video or whenever but I'm a white guy. You're black guy what's going on right now in the in the world and how? you know with this racism in all this, and there's I grew up in public schools and seeing how everybody you know almost just oppresses the black people you can't do this. You can't do that. You're not going to be any good and and it's just not true. May We all came from one place? You know I mean that's what I believe. We all came from now God and when you go to heaven and all matter what color or race you are whatever I mean it's that's it. So being I don't care who's listening to this I don't care if you got one leg and you're. Puerto Rican, Giannis? Black White whatever I mean. You can do whatever. You won't Burgum. I'm serious and seriously what you're doing to to help people especially the black community and all that on. Know you help everybody but it's. We need way more people like you trust me. I can show you words online search and destroy your listeners to know. He didn't tell me to say that. List I'm speaking it real man I love that I love that so much I. appreciate you for Tuning in. Works. On WHATSAPP. Share and. In an absolute pleasure on your wealth of knowledge continue bragging forward saying that you continue Spain. Our.