20 Episode results for "MC Laubscher"

BTM 77: How To Create Your Personally Tailored Business Strategy With Mitch Stephen

Before the Millions

1:06:20 hr | 2 years ago

BTM 77: How To Create Your Personally Tailored Business Strategy With Mitch Stephen

"This is Darryl Aaliyah and you're listening to the before the man's podcast episode seventy seven. Are you ready to be the master architect of your life? Are you ready to design your business and invest the needs that create the lifestyle always dreamt up 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 am an ambassador and you're listening to the the core, the millions podcast bear. My name is Heather haven would marketing coach and global entrepreneur, and you are listening to the before the millions podcasts. Hey, this is Marcus crispy host of the seven minute mentor podcast, global entrepreneur, all round geek and you listen to the befall the millions podcast. I am MC Laubscher the cash Linenger and you're listening to before the millions by cost. You're listening to the before the millions on cast a, whether you're looking to invest, were cash. Flow all building online business that allows you to be location independent. You come to the right place. Mr. Hollywood himself presents the before the millions podcast at now you're rose Ray. Hey, what's what's going on? Tribe? We're back for another installment guys, and I'm super excited for this episode. This week today were interviewing mitt Stephens and misses a real estate investor, a multimillionaire out of San Antonio, Texas, and on today show we talk a whole lot surrounding his business model, your business model, and the reason behind your business model. The reason behind your strategy, why you're doing the things that you're doing in real estate or why you're even looking to do the things that you're doing real estate on this episode, we're often going to refer to notes and if you don't know what a notice, just replace the word note with the mortgage. So if Mitch says that he has one hundred notes, that means he has one hundred mortgages. He has to pay monthly on until they're sold. That's if you fix and flip or as a rental property investor, you have. Those notes in which tenants are paying him on those mortgages every single month. Now, that's just for our scenario here today. There are cases and is actually very popular in what you can healthy. No, and not be a landlord. Okay. But for this scenario, Mitch, just interchanging the word mortgage with the note. So we are going to talk about how Mitch was fixed flipper in a general sense and how he found himself during a correction with all these properties in its portfolio ending end. This is the risk that fixers and flippers Goater that wants that market turns and it can turn very fast. You may have a lot of inventory that you having offloaded to a buyer. So what are you doing this scenario emissions gonna talk about what you did in that scenario and what he suggests that you do whenever if ever you find yourself in such a scenario, but predominantly guys, we're gonna talk about your strategy, what type of strategy you're implementing down your real estate investing journey? We myself, I started all over the place had no idea. What they're excellent going with strategy was best for me and kind of how to even systematically figure all of that stuff out. Luckily through a lot of those mishaps, I've kind of over the years kind of just refined what works for me. And I think that it'll be something that I'll refined for the rest of my life because as I go through different stages, my strategy is going to be different and it's going to be different because my goals are going to be different. So and I kinda just gave the answer there. But if you're looking for a way to create your perfect strategy to have the perfect business model when it comes to real estate to figure out, well, this person's doing this person's doing this. How do I figure out where I kinda fall in the mix of things. And at first granted may seem like a lot of these different business models, especially when it comes to real estate are very similar or if not the same. But as you get really clear on what your goals are as you can start to define the future that you have for yourself for the future that you. Want for yourself and your family. You can reverse engineer that goal to then find a roast strategy that's gonna best soup at goal. We're going to get to this show by talk about this a lot, especially in our community in our Facebook group and things like that. When you think about real estate and you think about the fact that you can wholesale, you think about the fact that you can fix the flip you think about the fact that maybe you can invest in large apartment buildings, invest in apartment goon, invest in mobile home parks, you can do note investing as we kind of just discussed earlier. You can do single family homes, multifamily, he's, I mean, the list goes on right? And all of these niches. They're very profitable. So it's not know at one point and becomes less about the money and more about, well, what else around this model? How much time does it take? What's the manpower required where the funds that are required? How long is it? How complex is you start to break down some of these other subcategories? Because again, the money goal is is pretty straightforward, right? You start to break down some of these other. Subcategories and it starts to become more about what we'll type of lifestyle. Do I walk? I like to teach my coaching clients tonight label themselves as wholesalers, or fixers flippers or even rental property owners. I want to build a community of real estate entrepreneurs, and you may have some if not all of these tools in your tool boat and you can execute on any of these toys at any given time when you're that dynamic ring of that flexible, you are a real estate entrepreneur because now you're able to dictate whether or not you see a deal and you wanna make a quick ten k. spread with the wholesale or if you want to add that property in your portfolio. So as you begin to think about your business model, the ideal business model for you start thinking about the life that you want to live, I want you get clarity on that. You can start to reverse engineer Africa route, which will the state vehicle is going to best gear you towards that lifestyle, the people that you want to impact the amount of money you wanna make how you wanna make that money, how much you want to work for that money, your location. You know, if you need help with that plan. And I think everybody does at one point in. Time, but if you need help with that plan, we'd love to help you. We help individuals like you every single day. Come up with this plan. Get some clarity around what's working, what's not working with their goal is in the future and how to quickly get there. So if you like for me and my team to help with this plan because it's time to create your ideal business model than book call with us head over to before the millions dot com for slash call that link is going to take you to a scheduling page on that scheduling page or going to see different times pick a time that works best for you. Then you'll be taken to a short application so that we can get to know you and your situation better. So that will come appeared to our breakthrough call for you and get you to your goal all the quicker. This call has been powerful for so many others in the past, and it can be just as powerful for you. Let's create strategies together, don't do it by yourself. Don't think that you're all alone on this journey. Don't feel as though you can't possibly create a strategy because you don't even all the strategies out there. You don't even know if there's a such strategy that's going to suit exactly what you wanna do and how you want to do it in when you wanna do it. You know, I think about the fact that my strategy is not the strategy bet most people may subscribe to. I mean, yes, my real estate strategy per se is, but not my business model, real say strategy. Similar smart clients is having all these tools in my tool belt, finding motivated sellers, helping them out of their situation and making a profit on the process. Everything that happens during that process. And after that process is a favorable meaning that they can be so many different ways to go about doing a deal. But my business model again, this is something this is just another component of such business. When you clearing your vision on your golden, what you wanna do for a lot of us, real estate is not going to be something that we're passionate about is just a means to an end is just to be able to me for an example. I want to empower people. I want to empower you to aim for your wildest dreams. That's what I want to do. That's what I feel as though I was called to do you only get one life to live your only this age. Once your life is one story and get a redo. You don't get to go back in your twenties. I don't like to accept allow try that next time. All I'm too young or I'll do that in five years out want this age. I'm twenty eight right now. I don't want twenty eight to pass me by, and I regret not having done something or tried something or been something because I'm never going to get this back again and something I quite frankly dreaded when I had to be to corporate job and I, we used to go every single year and do the same thing. And there wasn't any real progress like, yes, you would get that five to six percent raise whatever it is. But I mean, what's the real progress endure life? So if I can motivate an empowered people to do something crazy to do something out there to do what they really want to do, live the life that they felt as though they were called to live that I would do that all day long. You gotta admit it's pretty hard to do something like that to take a leap of faith to go out and do whatever it is your call to do. If you don't have a lot of us considering necessity, which is an income stream to provide for ourselves. Right? So although my vehicle of teaching of choices real estate, Mike goals and visions are for each and every single one of you to do. What is that your call to do? So what are you call to do? Where do you passionate about? How is real estate going to help facilitate that? That's the frame of mind. I want you to enter this episode with, and that's also the frame of mind that I want you guys to enter this call with when you book it with our team at before the millions dot com slash call because everybody strategy is going to be different, not love the fact that I can give you guys the tools to do something like maybe even build a podcast, and it's not going to be on the same lines as to why started a podcast or why I have a podcast for me. It's one of the best marketing tools for my coaching point, blank period for my consulting for my real estate business from the outside looking in a lot of my friends, a lot of my close friends. If you ask them what I did in real estate, they probably wouldn't be able to tell you if you ask them about my podcast, probably tell you. Yeah, our friend, right? He has a podcast spout by style design, a spot real estate, but they wouldn't be able to articulate to you that it's a marketing mechanism. It's not the end all be all. But that leads to Astra minding with people that or. Narrowly wouldn't even look my way. Oh, and by the way, at least to my high, took it products such as a mastermind, the mastermind, but I'll be starting next year, twenty nineteen look out for that. It leads to my business to have speaking engagements all over the world and leads to investors wanting lining up to invest in my deals at least two partnerships, a funnels to my coaching program, a coaching program that is set to do six figures this year and in twenty nineteen combined with my mastermind group and speaking, I'm trying to hit the male guys. It's just BTM it directly impacts my goal of doubling my real estate portfolio over at urban wealth. My other company every single year. Now I have a friend, he's a broker, and he has a podcast, yes platform, and it's not for the same reason. I have it because he's a broker. He's looking for investors. So all his podcast, you better believe that he's gearing that towards investors to everything he does is in alignment. We may have a similar business model, but our goals are different. So when you're clearing your goal, you can really. Really, really hone in on your strategy and you can move forward without the fear of a misstep you can afford without the fear of what if this is not the right thing, what if this is not the direction supposed to be going in? What if this is not the best option you can afford without all of that. When you have a goal, your strategy directly reflects goal, not wanna create a thriving real estate business. I want to create a thriving investment portfolio, and those are two totally different things. By the way, guys wasn't. One is active and when is passive and I want to create a thriving coaching platform for you. I mean, you might want to have a platform like a podcast like a YouTube channel to help others get started. I mean, yours may be geared towards personal finances may wanna help people manage their money. You may want to have a local meet up and this meet up. Maybe you're teaching people how to burdock for you and find deals for you. You may be a software developer in your jumping into real estate to create those passive streams so that you no longer have to work for Google or Facebook or apple, or whatever it is, and you can go create the next bigger pockets platform. I mean, the possibility. Our endless in real estate guys were just gonna have a subtle tools to get us to our goals. And that's me put in its simplest form. The tools that I personally left to talk about teach about you guys already know them. I love to focus on a lot of things. Other podcasters other investors don't focus on. You know, I come from a place where it's not about hard work in hustle. I've done that. I've been there and if it was about hard work and hustle than we'd see a lot of people, a lot of labor is out there that we're harder than anybody else make a whole lot of money if that's what it was about to come from place to what I mean, I want to constantly talk about mindset is those type of tools. I wanna give every single one of you want to give you guys those mindset tools. When it give you guys those those real estate tools. Every single episode we bring on a guest that's in a different field in real estate. That's a different region has a different model, but has different criteria till you get the mindset piece. You get the real estate pieces, you get the business piece bring on so many entrepreneurs on the show that idea how to get started in real estate, but they run successful businesses, but they have successful systems in place. Even when it comes to thought leadership. That's another tool. And as I give you guys all these tools, all of they might be spread out over the past seventy seven episodes. They're here in their free in there for the taking for those who are hungry. All of these same tools actually teach Mike clients might personal coaching clients actually teach them step by step to that would be the only difference guys. You guys aren't getting these step-by-step handled in strategy sessions in learnings implementations in accountability, but you are getting all the ingredients. It's not just about me and my programs. By the way, I'm talking about that type of assistance in general, cannot stress that enough. At the end of the day, I want you guys reach out to a lot of the guests. A lot of you guys do this all the time. I mean, I get so many guests contact me after the show, and I say, hey, to, right, thank you so much for having me on quite a few people from issue. I've reached out some of them have signed up for our coaching, some of them invest in my market and wanted to deals together. I'm just like, man, this is awesome. So you have the resources guys. I love when you guys gravitate to these guests. I personally feel gravitated to Mitch. Today's. And it's really cool because I'm gonna get to be on his podcast tomorrow. So that's going to be a lot of fun though is one of my favorite episodes today, Mitch as a ton of fun. And even from the gecko of the interview, like he's going to have you laughing, he's going to have you just in deep thought about what you're doing and if that's the right move for you, gonna tell you about some of his experiences in how he was only about that upfront cash. She was only about large sums of money for a long time. You know, he was a wholesaler. He was a fixture in flipper, and one day he realized that. I mean, this is a lot of work in this is not sustainable in the long term without the high demand of his time and without the high pressure of knowing that he has to put in work to create that same amount of revenue the next month. So he wanted his life to he wanted his lifestyle to change. She wanted his business to change to, and again, I'm kind of getting into the episode now. So let me stop. So he took his experiences. He created what he likes to coin a for ever cash strategy and that. Strategy ladies and gentlemen is what we weren't to uncover today. So let's get to the show to raise of the week. Okay. So I feel like I've given you guys a whole lot to digest and we're barely into the tip of the week. So maybe I'll just keep this week's tip of the week short and sweet, but I'll make sure that it's still falls in line with our team, and I probably need to go ahead and implement the tip of the week right now in my personal life because I am tired. There's a long intro, Nope, but seriously the tip of the week this week is is to rest our ESE. Yeah, just kick back, relax and rest. Get some sleep. Relax. Enjoy yourself just to why is that? Typically week this week? Well, the thing for this episode is business strategy, right? And what is a business strategy without an essential part of strategy, which is resting gas guys. Resting is a part or your business. One of the most important parts of your business. Your business cannot run, cannot fun. Function without you its head, you need rest. There's no such thing as I'm too busy to sleep. I'm too busy to stop onto busy to take a break. I'm too busy to arrest. The break is the business. Take that break because when you get back, you're going to feel refreshed of talk about before you get back, you take that break and it's in those moments where we're not actually thinking about work. We're not actually thinking about business, but we're, we're lacking. We're watching TV or staring at the coffin, the clouds, whatever it is in those moments that we'd have that a ha or that a pivotal moment or that I know what to do next moment because we're not straining. We're not stressed when that self focused on a solution. So rest is the work. Go rest. Please save your business. Help your business by resting. You will not sleep. When you're dead, you will sleep. Now you'll sleep good. He will sleep well, then you will get back to work. You will kill it. It's not only resting exercise is part of your business in. I don't say that jokingly. I take some. I x. Cise regimen very seriously. Bear are studies, and you guys already know this. So I'm not going to go into this, but there are studies that have proven time and time again, how beneficial it is to exercise to move your muscles. Maybe just take a walk around the neighborhood, but how beneficial that is to your mindset, your clarity, and going back to what I just said about these are hobbies, Piff any moments. Sometimes when they happen at the gym for me, just hits him like a ton of bricks to sit there. I'm just like, wow, I'm so glad I got away from that cell. Glad I got away from being in the minute show my business because I just took a step back in the clarity that I just got is gonna help me push my business forward, so much better faster, more efficient than if I didn't constantly take this time to get some clarity to step away to think about other things to relax to rest. So in a nutshell, guys, rest and exercise in everything else that goes along with self care. Self care is business care. So let's get to the show. Now your feature presentation. On today's excelled on super, super excited. We have a another investor on the show in this investor comes out of beautiful city of San Antonio, Texas, Mitch. How's it going today? The one really good man. I appreciate you having me on today. Take it back on the time machine. Let's get to know younger Mitch on what you are doing back in the day. The inception of the entrepreneurial Mitch. Were you? Did you got college where you studying engineering, that wasn't your path. I mean, what kind of trajectory where you're going down before you kinda discovered like I was a professional dumb ass, but it wasn't even funny. I didn't even find myself about thirty six now I didn't find my, but with both hands dollars thirty six years old. I'm fifty seven now. So everything about the talk. You happened within the last twenty years now it wasn't that I wasn't trying. I was trying. I went to a couple of semesters of college wasn't impressed at all. Found out my college professor made sixty thousand dollars a year in couldn't pay his bills, and he wanted to teach me about life of our this. I'm paying this guy who does not make any real money and can't even manage the money he has in this is the mosque Rueda program in the whole wide world of I'm gonna listen to somebody to be making a million bucks and they did, you know, have eight hundred fifty credit score. So anyway, I started out on that journey. I jumped off all my friends went to college. I didn't go to college. I like to say, I have actually got, I don't think he ever graduate from college, but I enrolled in Lacayo Lacayo means the street. So I started learning from the street the most expensive university in the world. So far it's cost me eight hundred fifty thousand dollars that I know of no shows no sign of letting up. I don't know how many semesters are in this college. They're not letting me graduate because I seem to keep learning everything. Most money, so thousand just a few handful of deals. I can think of that cost that much over my career, but I always had the bartending job or the the job of the day. But then I also had the entrepreneurial business of the month which I went to many, many businesses. I like people say, well, how do you end up with real estate and said, well, I failed and everything else. That was the last thing. You know, my first book failing forward to financial freedom's about falling down and getting back up for years, figuring out what you know, it's not working. That's not for me or I really thought I like that, but I don't like it at all. It's not what I thought it was gonna be a lot of businesses. I got in seem to get you on a hamster wheel and you'd get the overhead and then he couldn't get off and you're running to pay the rent and the employee's and was a sickening feeling every Friday you had to perform. You're in a bad way. So what were some of the what were some of those businesses was the restaurant where some of the things that you kind of driven train out to to opening starting that that you didn't quite see success at first one steps out with the the one that made it the furthest, but still it didn't fail, but I Br, I broke was striping business. I was putting stripes on parking lots on roads on herbs are painted. The pavement in that was Mitchell striping started that in the early eighties and I sold my drum set for seven hundred and fifty bucks in two and a half years later is gross. Seven hundred fifty thousand dollars, but I couldn't get anyone to pay me and I couldn't take my stripes back if they didn't pay me. I couldn't get anyone, but there was a major, the bigger the companies longer they would take the painting and I couldn't sue them because the job wasn't worth. You know anymore in the lawsuit would cost more than the job. So. The other problem with that businesses twenty four hour day business. You strike parking lots at night. You did the business and bought the paint and got jobs and try to do collections, paid the bills during the day. So it's a twenty four hour a day job. I learned that I could break this body. I had been known to work twenty four hours forty hours even thirty six hours one time in a row. I could get it all done. Then now my body just sat down and said, well, if you're not gonna stop, we're just gonna stop for you. It just stopped your mindset at the time. It sounds like you were a budding entrepreneur as most budding entrepreneurs go through. They go through the startup phase in this phase of learning in growing again, you learned, you know, you got took a first class degree in learning from the streets. I mean, you said it yourself and you started as much manure, but I think about the business that you add in. My first question is, was it a business? I mean, when you think about the fact that you're working twenty four, seven and year though sounds like you're the sole employee. If you did have anybody else to sounds like you're still working twenty four, seven. So. Was it a business where you self-employed, or did you give yourself a job in which you found that this model wasn't gonna be able to? I mean, you weren't able to multiply you are more so stuck in pigeonholed. I mean, what kind of progress from there were some of the realizations that you started encountering will? No one told me about that. No fun told me that you know the difference between getting yourself a job and owning a business. I thought I owned a business. You know, I, I found out that the business owner may I found out that it wasn't smart to do the work. It was smart to how the company and to run the company, but it wasn't smart to do the work. I found out that you can't muscle your way through on a real business. You know, I was trying to muscle my way through on my mind. My discipline was very disciplined. I was very responsible. I wouldn't miss and I would hold myself accountable on. I did all the right things. I just didn't know about how to work on a business that in this, but I learned. So let's talk about the process of learning. I mean, you gathered, you know, quite a few things from that experience. So when you took the learning process and everything that you kind of sick from that experience, what you go on to do next kind of take us through the next, I guess, journey of your life where you're dislike, like this is what I learned from the situation in this kind of what I'm doing now. And even this may be another learning process. Yes, before we get real estate because I know that Berlin state when you finally got there. I mean, that was where you were kinda putting your stake in. Like, I mean, it's you've been, you've been here in real estate for over twenty years now. So I still wanna walk through that progression because many people find Willis site in a ton of different ways. And it's because of some of those things that you went through that you found. So maybe what was next year to year to year and a half to recover. I had what really nervous breakdown, but, but it was from exhaustion. I was just exhausted in took me a long time to, I don't know, be able to laugh or really let go and have fun again. So I was just, I just ran myself through a gauntlet that I shouldn't have done it, but I didn't know better. I thought it was proven to be a strong guy. So then I was just recovering and I bought a little one bedroom condo to own someone owner, finance me. And then it got kinda small and I decided I'd rent it out and I went and bought because I had an opportunity to buy two bedroom condo down the street. And then I figured out if I. Rented out my one bedroom condo, and then I rented out the other bedroom in my bedroom condo that I was gonna move to that I would live for free or even make fifty bucks a month, you know, potentially. And that was a far cry from where I was because I was having to pay for pay to live. So I did that and I was living for free for a while. And then I decided to sell those apartment. It's sell those two condos, and I sold them really, really the closings were really close together like within a few days or a few weeks. I don't remember, but I remember that I made like twice as much as I made at my my job for the year in. I was looking at that check and I never seen that kind of money before in one place that was mine. And I thought, well, maybe I'd better look into this and then I started studying about rent houses and real estate read started reading books course. They didn't have the internet back then. So you had to do it all with cassette tapes if you bought a couple of courses, but I was even typical of a lot of people. I got the courses, but I didn't even take the sulfate office some. So I wanted to look into it, but I was overwhelmed by the vernacular by the terms by the whole thing. I mean, I would read the stuff and I can understand English and I could read pretty good. I understood the words, but the concepts were little out of my reach. It'd be like, I don't know you computer programmer. I was I'm an exit reading renew about, you know, some kind of code when you could kind of understand, but you don't really understand. You know what I mean? Like I was kind of there so, but I just kept reading. I just kept trying, but I learned everything in my whole life by accident. Mitch. Stephen has to get hit in the head with a baseball bat of an idea before you go, oh, that's what that book was talking about our night now. I know now, I know and almost everyone in my revelations, everyone on my steps happens like that. I've been reading about it. I've been people have been talking to me about her. I've been listening to it and then I'll get in a situation in kind of fall in my place like nothing down deal with because I made some facts, ashes lie, close, it go, wow, I just said nothing down deal. I I didn't plan to make nothing down deal, but I just did. And then all of a sudden now I now I can start doing it all the time because I lived at, I'm a so you know, going down your path. I mean, you stumbled again, you're in accidental accidents investor in you. You think about the fact that you were looking for the type of deal. Oh, that you specialize in now. I mean you were looking for an owner financed deal. You're looking to, I guess, to to, to have payments over certain amount of time so that eventually you can own the home will the beginning I was looking for someone to finance the purchase or give because I don't have any money. So one of the biggest revelations was, you know, everyone says, you don't have to have money to be in the real estate game like you can do. We'll stay deals with zero down, you know, and I knew that I read the Robert Allen book nothing down and I I could see how it would work, but you know, I didn't own the concept in my heart. I was reading it, but did I really believe that I could do it? I wasn't. So I wasn't convinced. And then I did a couple of deals on my own with nothing down and all of a sudden it was like, once I owned my heart, I can make offers on the whole town. I didn't care if it was a thirty story, tall, skyscraper, what I understood it them I can make offers on anything if the deals get enough and I got enough time before closing. I have a really good chance of finding someone to come with the money under some terms, whether they're fifty. Fifty partner. There's something so when you don't have my, I really big lesson was is when you don't have money, your professional deal finder in if you're really good at finding really good deals, money kind of flows into it. All you are really, you're not that important to the to the finding the money. You're important in finding the deal in contracting it up, you know, writing it down and getting the terms everything so that you can win. That's important. But after that you're not Morton all yours, two legs, two arms in a megaphone. So you use your two legs to walk around town. You got your two arms to hold up your deal and your mouth. Your megaphone saying, hey, look at this. Fantastic. Do you like that? Who wants a piece of this? Bring the money? That's all you do is you walk around town saying that. In the one will show up. They got one, let me see the deal. Then they look at the deal, go holy crap. That is a good deal. And then he's got the money and they go, yeah, I got the money. So what you want you want x. piece of it for that money. Yeah. What happens if I don't get paid, I guess you get the deal by yourself. If you don't use, it doesn't pay you get it. So you're putting up the money, then workout you get you get the house. Okay. So I I did a few deals with fifty percent partners. Then I figured out I could buy houses on my credit cards and I bought my first hundred houses without partners on my credit card. Since two houses were cheap, twenty years ago in San Antonio, Texas. You can buy a house for ten fifteen thousand dollars all day long, twenty five thousand dollars every day. In the classifieds you could get the classifieds twenty years ago. And this is going to break all your art right now because it's not that easy now. But back in twenty years ago, you could get the classifieds in, you could if you could start at eight o'clock and you'd have a house on contract by noon every single time. And if you screwed up, you'd have to houses on a contract for three and then you'd have to worry about where the hell you're gonna get the money for all three of them in the next thirty day. So my goodness myth. So I figured out they wanted fifteen thousand dollars for this house and it needed ten thousand dollars for the rehab. So I I looked at my credit cards. They were zero percent interest. I said, we'll give me ten thousand on this part. Give me ten thousand or this twenty thousand and give me five thousand this part. You know, there's twenty five thousand. I got enough to buy this house and fix it, and I'm going to sell it for forty, nine thousand dollars and our own anything on the house. It's gotta flights, free and fair. So at the closing, they'd give me all the money now I would run back home in about use the credit card. One penny off that credit card. I glued it into the folders, taped it into the folder that house because I wasn't going to get into that deal where I got so confused. I didn't remember where my debt was anything of eighty d and I'm not real good at stuff. So if I used one penny on a card, then that card was to be used for no other house. So I put the two cards inside there when I got when I sold that Thang for forty, nine thousand. I got the whole forty. Nine thousand wired to my count is there is no debt on, and then I run home in my wife had sites. All right. Go to this file one-two-three main street. Find all the credit cards that are taped to the inside column up, find out the balances symptom checks and tell me how much it is total. So I can figure out how much profit and we would close them out every time. And I had in back in the day if you had good credit, they didn't check to see how much available credit you hadn't hold it against you. They just if you had good credit, you got their car and you got the maximum credit advance limit fifteen twenty twenty-five thirty thousand dollars. So I just went out and started applying for every credit card. I had forty five credit cards and if I wanted to I could get six hundred thousand cash on my kitchen table. It takes me about fifteen days, but if I went to every one of them got all the advances, I could get six hundred thousand on my kitchen table. And eventually I guess a lot of people took that six hundred thousand. I went to Mexico and that's why they changed the rules. You know what I mean? They don't let you get that many credit cards without penalising your credit. Now we'll so it wasn't unusual for me to have two hundred and fifty thousand dollars for the houses free and clear. But I'd have you know when they were worth six hundred thousand or five hundred thousand or whatever. But then I'd have two hundred fifty thousand dollars for the credit card debt. And that freaked my wife out bad, but I knew what those houses were worth and we practically got divorced over that a couple times until I gave her some hush money. You know what? Hush money is. Much money as I do a couple of houses. When I go open a Bank account for and I put like thirty forty thousand which is like she made thirty six thousand dollars a year. At the time I went and put thirty six thousand dollars accounts his now you please be quiet. Will you please? Hush up? Oh my goodness. Mom off my ass. What do you want me to be worth it. You want me to be agreed or at WalMart. You want me to flip burgers. What do you want me to do? I just put thirty. I put a years worth your salary in your Cal. Will you please shut up. Entrepreneur, I drug her into entrepreneurialism like a caveman. I drug her by the back of the hair and she was kicking and screaming the whole time when you get a real job. I said, what do you mean a real job? I just made more than you made an a year and a month. What are you talking about how you do go to lunch? You don't understand what I do. Day, you don't understand what I do. I took her to two houses the worst two houses. I could ever find with all our cat crap and sleaze and everything. I made sure they were porterhouses the horrible ones as it hand. Let me show you what I do days. She's never been to house after those two. Two thousand houses of my career for twenty years. She's been to to that. I took her to those to the kind win. It's one hundred five in the summer and he opened the door and it kind of pops like a, like, you know. You know the door. The pull your shirt up over your nose, you know, and you go in, you look at it. That's two houses. I took her to Mitch, wiser. Do that. Well, she says, I go in there and says, yeah, you are going in there. You say you don't have a job, you think this is all you think? I don't do anything. This is what I do come in this, how she's not gonna go in the house, then drug her in the house. She says, thanks. I said, it stinks. I stood up on the coffee table and I took a big deep breath. Wrestle spill money, Honey. That's what it smells like. Nells like in the raw, wow. While he lived while never went back again and she quipped bothered me about having a job. Wow. What a story, Mitch. What story? I mean, this is made you buy busted so many beliefs. Like I know the listeners are is just like, wow, like slow. It's worse than that. Man. I even called her. She with my wife is so responsible. She worked for a head hunting company of employment company. She knew she was there every morning. She drove him afford an hour to get there in an hour home and she stayed late and she went early and she, you know, I was looking at the dedication of this when I said, damn, I need that lady on my team. I says, come work for me. She goes, well, how am I gonna get paid? I says, I can pay. She's she couldn't understand it. I says, what do you mean how you're going to get paid? I just put thirty six thousand dollars your Bank account. What do you mean? I can pay you. I put it in your Bank account one month. All total. I can certainly divided by twelve and pay you. You know, but she's not afraid afraid afraid to to her credit. She lost her father when she seven, she lost her mother when she's twenty one, two men divorced her and left her with babies. I've been married twenty seven years now to her, but she would spend her whole life trying to keep a a home together. And so I was scaring the hell out of her. I call her boss Boston toll and gave my wife's resignation. He's the boss said, does your wife know this yet? I said, no, but I'll let her know as soon as we agree on the terms or how was this a smooth transition? You've been very good to her and very good to us. I'm going to treat you. We want to treat you fair, but let's get it all worked out and then I'll tell her what the deal is. Why do you think this is really gonna work out? I said, yeah, it's gonna work out as he says. Why are you doing this? I said, because she needs to be making me money, not you money. He's making you a hell of a living. And I don't see any reason why she shouldn't be here doing it for me. She's a responsible person, you know she is. He goes, you're right. I don't mind you bit. I love while misled. That's an insight that. Some insight. He wasn't happy about it, but she is now she's very happy there. Yeah, she is. I took, I, you know, I got the limousine in the balloons and that sun roof, and we let them all the balloons out the sunroof, and we got in and everyone waved goodbye and we went into self-employment. She's never been back. That's the beauty of the. I mean, that's the beauty of the lifestyle. And you think about the fact that you got started, you got started with partners. You started with credit cards. So I guarantee you ninety percent of the people out there that don't want to get started. Don't know how to get started. Think they can't get started. It's because of money. I could have borrowed the money for those deals. If I'd known that if someone if I'd known that I could, you know, you don't know what you don't know. I just thought no one was gonna loan me money because I didn't have in all those excuses. I was too short. I was too fat. I was too young. I was too inexperienced. I don't know anybody with money. All excuses all had to do is ask to borrow the money at eight or ten percent. I would have gotten giving them a, I lean on house. I would have gotten had no pardon? But I didn't know. Yeah. Yeah. I mean, even with what you did, it's tackler not hope to listeners can take away from that now, kind of moving down your bit further. Now you're getting experience. Now you're, you're building momentum. You're building your snowball, you're learning, you're learning your invest in your vest. You're making money. You're starting to get a hang of this. You're getting confidence. What's maybe one of the best or maybe one of the most worthwhile investments you've ever made, and this can be an investment of money in investment of time or investment of energy there. So many man is hard to say. Let me say this though, because I want to keep the track no back to that. So I had a job making about three thousand dollars a month to which was not as tackler job, and I decided I was going to try this real estate thing full-time because I'd had I put from the sale of my colleague, put a years worth of salary in the Bank I jumped off. I did a Mark of nineteen ninety six and I did forty five deals that year. Then the next year I did sixty five deals in the next year. My third year one hundred fifty houses. I bought exactly one hundred fifty houses and I sold exactly ninety seven of. In two thousand January first, two thousand. I had fifty three vacant houses for sale in my inventory, and then I had a tragedy happened in my life. I lost somebody in then thirty days before that happened, associates closed in my business of buying and selling notes, close right along with it, and then thirty days after that tragedy. Nine eleven happens. So like the whole world is falling apart. Everything was falling apart. My personal life just had a disaster die way of business was shut down because I was buying houses, filling them on owner, financing in selling the notes in the note buyers associates, which was a division of Ford Motor credit for every single third party note transaction ended up eventually they might have sold it to Bob or job a, they were all bundled up and selling it to associate. So when associates when their when their exit strategy closed, everybody close and everybody went broke, but I didn't go broke. I did some things on accident that I didn't know that I did. I created a. Hit low to notes and I couldn't sell the note to make the ten in twenty and thirty thousand dollars a piece. But I had, you know, I just thought my sold the fifty houses and I made five hundred dollars a month cash flow. I was making twenty five thousand dollars a month from cashflow. Not counting the down payments or anything. So really what the with the disaster proved to me was I didn't need to sell the what the hell was selling the notes. Why was I do that? We lost the dicta that twenty thousand dollar check. But when I told you know but what if you hold the notes, you have like a hundred and twenty thousand coming to you or you get twenty thousand cash or it'd be holding notes for the long term over the years. Thirty years. You know, five hundred dollars a month. Cash flow for thirty years is a hundred and eighty thousand dollars. Would you sell that note make thirty five thousand or whatever? You know what I mean? That's that big on how moment I see many fixers flippers come to that big moment. I see many wholesalers comes through. That's quite honestly why I teach all of my clients to utilize all of these tools in their tool belt. Don't label yourself as a wholesaler, don't label yourself. A on flipper. You have to also be able to play the long term game. So what you should do is you should look around and depending on your situation and what's currently going on some properties that you're going to add into your portfolio. That's gonna make you two to five hundred dollars a month. There are some properties that you're gonna wanna wholesaler that you're gonna wanna fix and flip, but do not be a fixer and flipper do not be a wholesaler. That alone is not going to be how you're going to be able to build wealth when it's just like when you first. I mean, even rental investing when you think about the fact that can make two dollars a month on this. Okay, that's not really gonna put a big dent into my expenses or I can make twenty grand by flipping this or or wholesaling this the case may be that sounds good. I mean, that's that's how a lot of people thinking, you know, a lot of people on that listened to show. I mean, these are long term buying hold investors. These people wants credit cash runs to leave their day. Jobs, people want to subsidize their income and the best way to do that. The best way to get a return on your money is kind of what you're leading to. Now what you experienced when you realize that you're like, wait, wait a minute. I told you I have to get hit in the head with a baseball bat with a constant. They close. I didn't have a choice. I said, what am I going to do? What am I going to do? The whole world's coming to an end? I'm not going to be able to sell any more notes. It's a disaster for seven days. I walked around in a cold sweat in a sheer panic and then one day I just looked in the mirror and said, okay, well time to quit being afraid to figure out what you're gonna do. My sat down with a couple of smart people's, what the hell am I do now they said, used to buy a house, create a note, and then sell. The note make your money says night is going to buy a house in create a note. You can eliminate one step from what you have to do. It's going to get easier and you're going to be fine. Then I said, how am I going to be fine? He says, well, what are you got fifty houses in inventory and said, yeah, he says how much your average down payment. I said, I don't know five thousand dollars. He said, okay, go go to work on them. You get five thousand dollars on each one. That's twenty five thousand dollars cash in your pocket. And then how much does your average profit? I said, I don't know about five hundred cash flow. Usually between what I o and what they own me. They said, okay, well, that's twenty five thousand a month. I mean, you can't live off that. What's the problem? And then it'd be. Another fifty. That'll be fifty thousand a month and get one hundred and fifty notes that'll be seventy five thousand dollars a month coming in. You know, I have over three hundred notes brother. You know, I don't need to sell a note any more in my average down payment now is ten and twelve thousand dollars. So what I teach now is just how to live off the down payments and never have to touch the cash flow. Just watch it. Keep going up and up and up and up until you really don't have to work. Now. That's there's still one more step because see this is what I wanna point out when you do a wholesale deal, right? You do a wholesale deal. You're in and out and you get one check. What's the average wholesale problem? I'm looking at around ten thousand students start maybe around five. I'm picking up tin. I'm averaging ten to twelve right now. So I'm averaging more than where you're killing yourself is you haven't learned to raise the private money because if you get over the price of the money, I get to hold onto the back end of that every deal I do, I make between, you know, around eight to ten thousand to twelve thousand, but wholesalers out of the game. At that point I made my money. They still only three hundred sixty months of five hundred dollars cash flow. That's one hundred eighty thousand. That's how you get rich. Is that one extra step? So wholesalers getting his five six seven eight nine ten maybe it gets look every now and then makes fifteen or twenty. But he's out. I make my five ten fifteen twenty. Maybe I'll get lucky get thirty thousand now, but I'm still in the game for the remainder of the years. I saw all my house is on thirty year notes. So if I'm clearing four hundred, you know it's one hundred and twenty thousand. They still only if unclear in five hundred a month cash flow. It's one hundred eighty thousand dollars. So every house I do imagine my financial. He got ten thousand in only one hundred. They got ten thousand one hundred twenty. Here's a guy that ten they owe him one hundred fifty. Here's one hundred twenty financial statements by the deal by a hundred thousand dollars almost every time by networks you look up and you're worth the difference between making a good living and being a multi. Multi multi. Multi multimillionaire is the private money because with the private money, I get to stay in the middle for decades. Landlord is not my air conditioner. So when I get the check, there's no one calls me to give it back to them. No one, it's my money. I'm not responsible for hardly anything now I lose the appreciation. Okay. Which is a good reason to be a landlords recreation depression. But I bought this house for fifty and I sold it for one hundred thirty days. I mean how much appreciation do you landlords wall if you want to annualize that up Monday percent increase in thirty days over twelve if you analyze it, which means over twelve months of this, a twelve hundred percent increase. I mean. You know, we're gonna see back lording. There's been a lot of millionaires minimum, but if that's not your gig, which it wasn't for me, I was either the worst landlord the robot just really did like it, but it's probably combination birth. I dislike owner financing. Now if you're gonna owner, finance, you have to take another step because you got you got one time catch. I'm quoting jet, Bosh. Now the book forever catch. You got one time cash, that's your wholesalers, so your flippers. They do a deal. They cash out of it. They get one check. It's over Ryan, though tax and their tax. What tax rate. All goes to their tax rate. Maximums exactly. Shave, temporary cash is what I do for a living. I get some money up front. I got money. I build cash flow and the backside, but it's all going to expire because it's a note right and not. And they have. They have a termination day in notes. Don't last thirty years. I mean the average nodal last about seven years, seven and a half. And I think it's gone up to ten now I heard I haven't verified it, but which makes some sense people. So I have to take another step. So I have to take the money that I make from the one time cash deals and the temporary cash deals. And I have to buy in with that wealth that I build with those strategies. I have to buy into a forever cash strategy and my forever. Cash strategy is a little different than yours. You like you're going for apartments. Kay. I'm in mini storage is boat storage stores to me. It's the only rent I wanna collect, it's it's the victim is very little, not much resistance in an addiction. There's not a big fight. I'm not displacing families or changing kids school district or anything. I'm just taking their shit which is not worth anything than anybody. You know what I mean? And all that stuff on storage wars is bullshit. Ain't nothing in those things worth. You know, there's not one person on that show. That's not an actor and the whole thing stage from the very beginning to the end. Oh, I believe. Only in America can I reality TV fake and everyone. It's like world wrestling federation. Are reality TV's not even real so yeah. So that's what I do. So I took the wealth and I bought fourteen stores locations around the lake where I live. I am have thirteen hundred doors right now and I'm fixing to have sixteen hundred doors to build a three hundred a three hundred unit facility in every one of those people only ninety two dollars the first of the month on average. So do the math real quick. Thirteen hundred people times just say one hundred dollars. Thirty thousand a month coming in. I don't get to keep it all, but I get to keep plenty. And I still by one hundred houses a year more or less why Odin I'm using my house business and I keep throwing it over the money. I make keep sewing over into the storage business because the storage is forever. I'm renting those units. And then when it ends, it'll be because I decided in not because of note, runs out or time runs out whatever it'll end when I decided it's forever cash strategy. So last year I bought eight houses and is the toughest market I've ever seen him usually a little over a hundred, but I'm not gonna follow these prices up over that curve. You know, I've been here before been through two recessions. I'm saying, I'm gonna keep my in great deals with great margins, and I have to buy less deals that I'm just going to buy less deals because there's a lot of competition out there right now. He's a guru on every corner every weekend at every town. Then everybody's watching flip that whatever everyone's a house look before, at least you know a year, so they figure out it's worth. In then so about eighty eight houses in two thousand seventeen. I wholesale to I retailed twenty four of them, but not all of them did I have to retail. I mean the deal was good enough to owner finance, but someone in my organization wasn't as wealthier stable as I wasn't they needed to get paid. So I had to sell some things along the way to keep people that were important to me in the game. And then we owner finance sixty two howls and I average five hundred thirty five dollars per month. Cashflow sixty two times five hundred thirty five. How much did I increase my cash flow that year? Do the math or I'm not a very good mathematician. Solar-powered dollar calculator. He my whole life. I thirty five times sixty two equals. I increased my cash flow this year in two thousand seventeen thirty. Three thousand one hundred seventy dollars. Now out of sixty two houses down payments. I probably averaged eight thousand dollars a house on the low side. So sixty two times eight thousand in down payments. So I picked up four hundred ninety six thousand down payments, half a million. Now payments. I got paid a half a million to create thirty three thousand dollars a month cash for of which I am not a landlord. No one ever calls me except on the day that I send for closure notice because they can't because they're not making their. That's the only time anyone ever spew. And then I saw twenty four houses for retail. I don't know what I made from that, but if I just made ten thousand dollars a house, which is not what I did I made more than that rally, but that's two hundred forty thousand dollars in the retail and the two hotels are not even worth mentioning. So making, you know, a little under a million dollars a year to create thirty three thousand dollars a month in cash flow. I mean, I'm not yeah in so next year it'll be another thirty three thousand next year. Be another thirty three thousand in cash flow. So you look, you look up and you got one hundred thousand dollars in cash flow and four or five or six years. It's over one hundred dollars. No one's calling. This is one argument for not being a landlord, but if you're not if you're if you're not going to be a landlord you have to take that extra step in take the wealth. You build from the one time cash strategies in the temporary cash strategy. You have to take an extra step if you're not a landlord and you have to become one and get your money into wherever cash situation. I two storage is another. However it's also it's really easy. Like when you got storage, thirteen hundred doors, I go around thirteen hundred doors and I I raise the rinse three dollars who's gonna move out over three dollars a month. But I start at the beginning of the year at the beginning of the list. And by the end of the year I raised everybody by three bucks the thirteen hundred dollars times. Three bucks is thirty. Nine hundred dollars a month. I increase the revenue. If it's summertime in one hundred and seven degrees, I can raise him five dollars because no one's gonna move for five dollars at one hundred seven degrees. So in June July and August, I raise everyone five dollars if they happen to fall on raise. Ain't nobody moving for five dollars a month when it's one hundred five in Texas man me because looking around the winter and north, you can do it when it's, you know, freeze below freezing, miss. This is powerful. Like I've had a amazing time on this podcast episode. I mean, you should so much knowledge in these stories and men. You've really, really, really set a lot of things in motion in the minds of a lot of listeners because I'm excited. I'm amped up just like this is this is amazing. You know your strategy is a strategy that I'm very fond goes a strategy that I love at its dearest because you think about, I mean, even the fact that you are taking your passive income, you're taking your income, you're active coming. You're putting this into a wealth wacky year, becoming a landlord. Eventually, it's not your process let your primary process, but you're eventually putting this to the landlord bucket, but that's rising health, not being a landlord going on our financing. You have sixty two brand new houses that are cashpoint for for you last year and. Those sixty two houses have provided you with a large down payment. I forgot what the down payment was a mobile. A million dollar sixty two house Perodua half a million dollars or at the downpayments in also a brand new stream of cash flow of thirty k. a month on top of what you're already doing. So every single year that's just compounding. Now I wanna I wanna talk to the average listener out there. Somebody who's just about to get started is a strategy like this possible for that. We'll look hold that question right there because I want to back up just a second because what I think I don't know you that well, but I know that we have a little conversation before and you talked about, you know, landlord apartments in that stuff. So I think the perfect mix of this is you lease option your house for a year or you lease it. Part of the requirement to buy my house is that you pay twelve months in in payments on time. I want your down payment now and I wanna see twelve months on time. And these are the papers we're gonna fight the courthouse and make the owner. Don't even give you credit for your for the what would have been the principle of those payments, which in thirty year note is lucky to get a fifteen hundred dollar credit for the year. Maybe not even that. On the first year of thirty year out. So you get past your, you get past your capital gains. You went over twelve months. You get past being a dealer, you get depreciation on those houses for a year. And then when they prove that they can not all that they do have a down payment towards they gave you and they proved that they can make twelve months on time. Then you switched them to you fulfill your promise and you make them the owner, go follow the taxpayer, make him the tax payer record down at the courthouse. You know, file the papers and you have your first lean, and now you have all the best of both worlds. You've got your depreciation. You got pass your dealership status. They've proven themselves so you didn't have to his if they make it six months and they don't. They start making their payments on time. It's just in the victim now. Okay. And so really what should happen. And I'm not saying that I do this all the time because I got my depreciation for my million dollar storage places and stuff. But if you're just doing houses in, you need some depreciation in, you need to get past the dealership status. Just make sure that part of their choir minutes for me to finance your sorry, butt. 'cause you don't have. They don't have good credit is I need the down payment now, am I need to see twelve months consecutive on time? That means if you make a month eight in your late, you got to start over again with the twelve months. Now I don't always enforce that to the tea and I'm not trying to break people's backs and I've certainly I know good people when I see him. And I know when people had a real issue and I'm very forgiving when people deserve it, and I'm sure they're not lying to me because you know, as well as I do, these people can live with the best of them, you know, get out of this business made me kind of cynical and jaded, if you think sound overly jaded, just walk in my shoes for twenty two years and you won't believe a word anybody says, I had people shave their head and tell me they had cancer, and I give him a year year and a half of the house for free because I felt bad for him. Finally, never had cancer for sure for sure. I know we have a few minutes left on. It's one of those things where I wish we could talk all day about this because I'm fascinated by our conversation and there's so much I wanna cover and we might have to bring you off for part too, but assaults about new listener. Again, let's talk to that. That person who maybe this may. Be their first homeless podcast, and you're the first person I actually hearing talk about some of these things is this possible for them is such a system of them. Finding deals, perhaps using partners were using credit cards being able to finance deals, you know, and then. You got to hire a flight instructor. You don't get in a plane and try to fly the thing by yourself. You get someone who flew the plane already knows how to show you how to fly the plane. I mean this crazy, you're gonna crash. If you don't get someone to show you. I mean, you could mean people like me who jumped out and just figured it out on their own. This avaible rates not good, didn't crash are they just didn't kill me or kill my spirit. Most of the people when they hit the ground kills them or kills her spirit had something inside me that I just kept getting up. I don't know what it was. Maybe it was maybe it was pride. I don't know what it was, but I refuse to stop and I saw the potential I would have been so much better off about a higher if I got someone who had done it before and pay them. The thing about people pay colleges, how much money, what are you get? They don't teach you. About what happened in his, don't get me started on the dogs. No, but people won't invest fifteen, twenty thousand dollars to get a coach in a business could be worth millions and you can make money while you're learning. I mean, I don't get it, but I do understand this. There's a lot of crappy coaches out there that will take your money and not really help you. So you need to do your homework because that is a pitfall. There's crappy people in every business. Crappy lawyers, crappy doctors, scrap everything. So find make sure you find out the person that you wanna teach you to do. This has done it and is doing it right, probably is still doing Iraq. Give make sure they're the kind of person you wanna be and make sure that you read the reviews in your clear, you know, are going to be talking to you. Are we gonna be talking to someone that did twenty deals last year that took your program, which one is lifestyle design acceleration acts? What is your favorite before the millions Fook? There's been a lot of them, the richest man in Babylon shows the Christian way to do business. So you never have to go find a repeat customer. They just line up your door after your reputation starts to build thinking. Switch changed my life at a time when I thought I needed an education and it showed me that millionaires could come from any walk of life at any income level. In fact, there was a lot of it proved that the people that didn't have college views were more likely to be successful entrepreneurs because they didn't have a choice. They had glass ceilings because they didn't have a piece of paper. Nothing down why Robert Allen showed me that you didn't have to have money to get in a game. You need to be needed to be a connector. You need to be a connector of some sort self made America by John McCormack explained to me why immigrants have come to this country, not even know the language and become successful within a decade or so. And people like you and me born here in America, corner of opportunities success. The vast majority of Americans never figured out how to become financially free and their whole lifetime sixty five seventy years. And I figured out why when I read that book because two reasons those immigrants that come here understand the tremendous infrastructure in value of this system called the United States of America and capitalism in democracy. In which we're really Republic right to be governed by laws. We're having a big challenge in that department right now, but I think we're gonna to get back to law and it also showed me that these immigrants saw that opportunity as so golden, that they sacrifice that levels that we Americans are never are not nearly prepared to sacrifice. They will sleep on the floor of the restaurant, the leftovers for two years until they buy that restaurant. And even then they'll stay sleeping on the floor that restaurant until they buy two more. And then they'll walk out and be free the rest of their life and they'll do it within about a decade or so. And we Americans pansy asses and Houston, having everything given to us want everything now and have no sense for delayed gratification that we want to know why you're not successful. She's willing to sacrifice what it takes man. Do we have to get you back on? I, I can't say that. I'm having a bus tour when you come down on October, the fifty seven. I'm having a bus tour and we'll do my office. I'm doing through the neighborhoods I might have to. I may have let's we'll talk about that offline. I think this is this is this is fascinating. What is your favorite lifestyle design at this can be a business app or tool. There's an app that I push a button on it, and it gives me a ten thousand foot aerial view and draws the property lines and tells me who owns all the properties that's like, and I can't. I can't remember what the hell of the name of it. Oh, man. Gotta get you. Gotta give us that one. Grinding through the country. And I think. Some wind around here. What the hell is going on is there if you remember later on, you definitely have to have to let me now put in the show mess. That sounds like stress. What do you enjoy most about the way your lifestyle is currently designed? My day is never the same ever on ADD. I get bored easy in its constant change Everyday's a new day, every deals, a new deal, every buyers, new personality every so now I did learn one of the favorite things that I did. I mean, one of the you asked me one of the life changing moments. I went to a mastermind because I was I had tried five times to automate my business and I failed miserably all five times over my fifth, it was about I was about fifteen years in at the time in about fifteen years, decided I was going to quit because I was so frigging wore out. I've been wearing every I was the buyer. I was a seller. I was a private money, raiser. I was closer. I was the human resources, the hiring the firing guy. The advertising guy, I was the website guy was SEO guy was frigging guy I was about to do what I did in that first business which was run my ass in the ground until I was going to quit because I had enough money and I had enough cash flow, but I thought it'd be a shame to quit this business like. A million dollars a year. I mean, maybe I should just give up four hundred five hundred thousand of it and just instill make five hundred thousand but run it like a real seat. You know, I took this mastermind that Hannah bunch of people in real estate that had done that. And I'm proud to say that I have not seen the last five hundred of the last three hundred houses. I've bought in my town and I have not talked to the last three hundred buyers. And what I mainly focus on is socializing with people that are successful that have money in raise the money for the next deals. My job is to fund all the deals in my business. I have acquisition managers. I have sales people. I have office managers, I have closers. I never go to my office unless I just want to, but I usually stop by once a week now they can call me on the phone. Asked me anything they want and they do. You know a couple times a day, hey, what do you want to do about this? Or this person's not gonna make it or you're gonna be brokenhearted, you know, or looks like this rehabs ten thousand more than we thought it was going to be. Okay. Well, let me find ten thousand dollars. Yeah, whatever I'm actively put it. I'm not there all the time. You know what I mean? Rescue for your lifestyle. I mean, that's that's the drain. That's why a lot of people are smart, aspire to get to hope that this is inspirational for a lot of listeners. What sacrifices did you know you had to make before the millions to get to where you are today? I quit by toys. I in the beginning, I started to focus. I'm buying an asset if it's not going to be worth. I needed to buy things that we're going to make me worth more tomorrow than I was today for sure who was essential to your growth before the millions and why? There was a guy in town who loves to remain anonymous, so I won't say his name, but his name was Rick. I won't say the last thing he had over five hundred three, eight, four houses that he owner finance or rent it, and he took one day in. We started a conversation that lasted twenty year last one I leased. Why do you think so? Many of us are stuck before the millions. Even though we have every intention of getting to the millions, we all have mental blocks and mental obstacles in in limiting beliefs, and you've got to figure out what they are. And you have to go to someone to purposely get through it. You have to if you can't raise private money, then you have to raise millions that knows exactly how you have to pay the money getting the classroom, and you have to make a commitment to go through that course. I mean, with the bruises and the failures and the rejection and everything else. So you beat it. And then once you hammer that you pick out your next limiting bleed heels, there's always one there. You know, some people don't think they can find deals on houses if you think you can't find deals on houses. You're right, you can't. We got to change that belief. You gotta get with someone who changes the way you think. You know, I've changed a lot of people's limiting belief about finding money because the, they always think it's about them. My business partner, the guy I've been with the last three hundred houses was twenty five years old. When I met him his limiting belief that he was too young and no one would give him money because why would these rich people give a twenty five year old? The money ain't about you who giving yourself is about the deal. They just want to know what they're going to get. If you don't pay them the fee for the fifty thousand dollars that they loan you, you don't pay them. What are they get? If they get one hundred thousand dollar house, you could be jailing. This money, Charles Manson could have got that money from the guard. So you've got to change your limiting belief in what who did to him that way. This is exactly raise the private money right now. You'll look. I wanna borrow fifty thousand. This house is worth one hundred. This is the proof that it's worth one hundred. Now I have to rights every day in my life. I can pay the interest rate that I agreed every month or it can hand you the deed of that house. Don't look at me. You don't need to do a credit search. You don't need anything that's house is what you're going to get. If I don't pay you, that house has been enough. Don't do the deal most beautiful. That's how we end the show. That's that's amazing. And again, this been so successful. Thanks so much for the value for by listeners. Kind of want to get a hold of you reach out to you, learn a little bit more about your offerings and your business. Some of the things that you guys are doing this, how can they find you can connect with give us all your info here? One thousand houses dot com. That's all you need to know. You can go there. You find everything on my phone numbers. I'm not hard to find you. Probably just Google me, Mitch. Stephen s. t. e. p. h. e. and that's the hardest part. There's no insulin. Into being. To find. I got my phone number in the front of every book that's ever been out. There people go what you do this put on call the ones that do call. I thought. Exactly. Exactly, exactly. I love it. Won't miss. This has been a pleasure. And again, like I said, we get you back on so much more to explore, so we will talk to you Gary very soon. Thanks for tuning into today show if you like what you've heard and you're interested in seeing if you're a good fit work with the before the millions team. Here's what I want you to do next head over to before the millions dot com for slash call. That's before the millions dot com slash call and book an appointment to speak with our team. We'll get on the phone with you for about forty five minutes and we'll get you crystal clear on three things. Number one, what is your cash flow goal? How much are you looking to make every month. Number two, your personalized investing strategy and number three, the best way to get started using cash flowing rental real estate. Remember starting in scaling your real estate investments and business doesn't happen by itself. You need expert guidance to make it happen. We've helped clients all over the world start in scale. They're investing efforts to six figures and beyond while enjoying life and making the world a better place to find out if we can help you do the same head over to before the millions dot com for its lash call. I'm Dora Eliya and let's talk soon.

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BTM 101: My Spouse & I Want To Be Landlords with Pongee Barnes

Before the Millions

42:45 min | 1 year ago

BTM 101: My Spouse & I Want To Be Landlords with Pongee Barnes

"This is Darryl Elliott. And you're listening episode one. Oh, one of the before the millions podcast today. We dive into an organically grown family business. Are you ready to be the master architect of your life? Are you ready to design your business and invest the needs that create the lifestyle you've always dreamt? It 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. Gina lofton. I'm an investor and you're listening to the the four the millions podcast. Hey bear. My name is Heather haven would marketing coach and global entrepreneur. And you are listening to the before the millions podcasts. Hey, this is Marcus quick. The host of the seven minute mentor podcast global entrepreneur all around. Geek. And you listen to the befall the millions podcast. I am MC Laubscher the cash Linenger. And you're listening to before the. Spot cost. You're listening to the before the millions on cast a whether you're looking to invest where cash flow or an online business that allows you to be location, independent you've come to the right place. Mr. Hollywood himself presents he'll be four the millions podcast. Now, you're rose d'auray. Hey, what's the what's going on Tim tribe? We're back for another installment guys the saga continues. And we are due for an episode because last week I did not put out an episode because the week before we just came out with our one hundred episode, so ladies and gentlemen, welcome to episode one one and again guys the saga continues. I'm I can't wait to get to episode two hundred on today's episode. We're speaking to MRs pansy Barnes and panties. A real estate investor. That was born and raised on the south side of Chicago at the age of twenty in college. She decided to take an interest in real estate and her I deal wasn't all that successful fact instead of making money on a flip she had to pay money. Yeah. It wasn't a good deal. But luckily, she stuck through it. And we're gonna talk all about her story. And why and how she stuck to route. And what she's doing these days? I mean, guys. Pongy has kids and her ultimate lifestyle design her alternate lifestyle dream is to be able to is to be presence super present and her kids lives as our woop. So you talk about new jitsu lessons. You talk about going to PTA meetings. You talking about being on the board. You talk about going to all the recitals picking kids up from school dropping in for lunch. All that. Good stuff. Right. A lot of parents either have to alternate those roles or have their kids not go to those types of things or miss out on those types of events or hire somebody to take care of those has for them or attend but few and far between and this is often due to the hectic schedule because we're trying to do so much to provide for our loved ones so much to provide for our kids. But what Ponzi figure it out through real estate embassies that she can actually provide for her kids in even better capacity when she started investing in herself, and she started investing in a business that makes money for her while she sleeps. To she no longer has to worry about. Well, I only get to see my son or my daughter for two hours after school right before they go to bed. She's super prison her kids lives, and she's going to tell you guys exactly how she's been able to build a report folio to make that happen there. We're gonna talk about partnering guys like what you should look for in a partner if you should partner and more specifically how to partner with your spouse. No oftentimes, we see that. It's one spouse or another that's in real estate and the other one is just down for the ride back there that support system. It's not often that we see that both partners are in real estate, and the dichotomy of that relationship and often how tests and roles are going to be divvied up. So we're gonna talk about that on today show. We're also going to talk about ten friendly geographies. We're also gonna talk about why Ponti decide to drop out of law school and talk about staging property, and how punchy got her first start in real estate, really just aging other people's property. So there's a ton on today's episode. I can't wait to get into it. I am currently in Houston, Texas and spring is full. Or fledged upon us and is right around the corner. I'm so happy to be settled in for the next few weeks travel pay look a few reviews came through the pipeline this week. So I want to go ahead and give a quick shout out to MRs Bridget Abner and Bridget says fantastic content. Great questions and insight on how to take life and business to the next level. Thank you so much Bridget for your wonderful, five star review on itunes and another review that I want to give a quick shout out to is one of my personal private coaching clients, Mr Kofi and comer and Kofi says great podcasts I've been following the podcast since episode zero zero and I haven't missed one derive my brother, keep inspiring. You have something great on your hands. Kofi? Thank you for such an amazing review, and thanks to everyone who's left a review for the before the Maine's podcast. I mean, you guys are the reason why people are discovering this podcast every single day you as the reason that we're at one hundred. And one episodes. So if you haven't yet left a review head over to the podcast app of your choice, and leave us a review, an honest review. I love the feedback and I love love giving shots on the podcasts. Okay. So let's go ahead and get into the tip of the week to raise of the week. Okay. So it is tax season. And when this episode of fishery ears, it is just a few days away from the actual deadline to file your taxes. So guys the tip of the week. This week is actually going to be really really quick in the sense that there are many people that should be on your real estate team, including your CPA, and or your tax accountants now, I would suggest that this person and any of the person on your team really as many people as you can as possible, right? So your real estate agent your attorney, but more specifically because it's taxis. And again byline is right around the corner. I would always suggest that this team member has more than sufficient knowledge in real estate. Meaning that this person not only has experienced filing taxes for real estate investors, but is the actual real estate investor themselves. Now, this is not going to guarantee that you get all the deductions. This is not gonna even guarantee that they're gonna. Your taxes correctly. But what this does do as you've you a much much much better percentage. Much higher. Odds of making sure you're filing your taxes correctly, making sure that you're getting all the possible deductions, and that whoever it is that is finally your taxes this keeping up with the current changes in the tax law. So I try to make sure that every single person it's not one hundred percent. But I try to make sure that it's as close as possible to one hundred percent every single person on my team is a real estate investor because there's a big difference was between an attorney who invest in real estate. And then attorney who doesn't invest in real estate. There's a big difference between the lender who works with real estate investors versus a lender who works with first time homebuyers, most of us when we jump into this. We think oh, it's all the same. I know I have a friend who knows somebody who's in the lending business wherever friend who's an agent, right? Ninety nine percent of agents do not work with investors. Ninety nine percent of patients work with homeowners or potential homeowners and working with this type of agent could. Set you back tremendously in terms of what they're looking for. And what you're looking for like their criteria and the criteria? But typical homebuyer is so different from the criteria of a real estate investor. So in order to be effective and to be officiant. And also, it's a quote unquote, stick to code as those get updated in changed every so often, I suggest that all of your team members as many as possible should be real estate investors or should cater at the very minimum to real estate investors. If any agent lender or anybody else in routine tells you that they cater to both homeowners and investors please run the other way. Because in fact, those people have no niche, and they actually aren't good at a whole lot. And they cater to nobody. Same thing. With a buyer's agent versus a seller's agent. If an agent tells you that their expertise is both on the buying side and the selling side nine times out of ten. They have no expertise whatsoever. However, you will often find that the best agents cater to either buyers or sellers. Now, I'm picking on agents right now. But you guys get the picture this goes for every single member of your team make sure that your team members specialize in the exact thing that you do. So with that being said, let's get to the show. And now your feature presentation. We have on today's show mrS. Piji aren't Ponti. How's it going today? Thank you. How are you? I'm doing amazing before we get into the meat and potatoes of this Charlotte kinda wanna give our listeners little bit of a background on you in who you are in. Let's kind of figure out how you even began this journey how you began to entrepreneur your real estate journey like take us back. So maybe I think it was like oh five or four inches kinda kinda run. His tell us what your mindset wasn't rethinking in how you kind of stumbled upon this whole real estate round. I started in two thousand five on the college student a thing of the magic year and out actually I had a little small David since that I was down doing and at that time the real estate market was like booming. So I started seeing like TLC in HDTV. I'll channel having these flip this house show. And so I was like fascinated by like upset like most Americans were watching this show. And I was making Raleigh make a hundred K and they just put carpet in new paint on the wall. So I was thinking, you know, I can do this too. So me, and my husband we got in touch with a loan officer at that time. Everybody was alone offers so right like everybody's brother sister had a mortgage broker license to. So we mind getting a pre approved, and we started shopping for a condo. That was our first purchase. It took us a while to get it. Because at that time everything was going on the contracts so quickly. So we've primarily settled on a two bedroom. One bath condo in Chicago. It didn't need a lot of work. But we did do some small upgrades to its we bought it with the intention of flipping the property bought the property and we lived in like a year. I was still staying in Carbondale, which is like maybe four hours from there. So it was kinda like empty. We would have come home break in staying in it. But so bought the property, we're paying this essence everything, and we did some small upgrades. The kitchen cabinets regret, but we did put a granite countertop on it in. My husband did some. Tiling on the kitchen floor in the bathroom. So anyway, year later, we decided to sell the property I sold the property in our thinking, I was excited because I was thinking Tamblyn at least make you know, maybe ten to fifteen thousand dollars in profit. And then my attorney called us on the day of clothing in. He says I need you to come down here and bring a check for eleven hundred dollars because you had a special assessment for tuck pointing a roof in a bullet system. So it was the most devastating day in my day career having to actually cough up eleven hundred dollars. Great that up the comedown, otherwise, we couldn't close the deal. So yeah, I learned heartless than Mark. Purpose. Blitz. I want to get into your mindset a little bit more because most people don't do what you've done. I mean, you think about how many millions of people watch these HD two. I've never watched single wanna go shots. But you think of how many millions of people watch the shows in most people were just like, oh, that's all. That's awesome. Or maybe one day. I'll do that. I mean, what was it? What kind of triggered you? Where were you in a position where which you were like manna have punch of capital to kind kinda get out ruined positions where you're like, I have no capital, but I need to make some money where you was your husband a major influence in. This was he kind of all ready going towards real estate like what kind of triggered everything for you. I mean, he recognized Villafane I kinda dragged him into it. But now that for being Avas, really hungry side. I was like a starving college kid right now. I didn't have a lot of money. But the thing about two thousand five he it was one hundred percent financing sell to get into real estate back, man. All you needed was are, you reading yell pulse. And can you find documents in that was pretty much in here? Here's the alone a million dollars. So like it was crazy back. Then I remember given the lone officer on my paperwork for my pay how to show all the money out making from like, my EBay as proof of like income for the mortgage soul. It was completely that would never go that would never fly these days in completely different thing back then so yeah, I was just like hungry for money. I was just thinking like, okay, I could flip this property, and I'm gonna be rich. So it was very nice. But like I'm twenty looking at TV begin that was real so. So what what happened next as you? Go on the where you were. Did you have a bad taste in your mouth after that? You're like, I don't want to do real estate more. This is crazy. Did you go? Find a mentor like what was the very next after you. Okay. So pretty much now myself on track because when I thought that one in I held a four year we also bought another one. So in my mind, I found other property come on the market inside my building, and I begged my husband, and again, I'm like we gotta buy this one. 'cause you know, we got by this will really be rich. Right. So at the time like I said, I had no idea about special assessments. So I have already under contract for that one. When I thought that one. So I was kind of stuck with the second condo. But the good thing about it with a special sesame because I was buying it from a Bank in was a foreclosure, they paid the specialist estimate in I got to read the the benefit of not having to pay that. So will this one we actually made a profit has in? It was so much better. So yeah, I really just was basically if I didn't have that second one, I may have not you know in building. Into real estate as much but thank God. I had the second one because it helped my confidence level. I love that. So we're you. I mean what what else were you doing at the time? I mean, I know you have to EBay store going, but was your primary focus that store was what you made you didn't in college. Was it real estate? And when did it start becoming the probably started like, you know, eighty percent this, and then twenty percents eventually you got so may be one hundred percents sites where you are today. But what was going on at the time? And then what made you start thinking? Like, maybe I should just do this full-time. Okay. So it's like it's definitely been a journey to get to wear. I am today while I'm just full-time doing real estate because I d real estate, and I was banned. Once I did real estate, I was flipping properties, and they like in two thousand eight I opened my own a staging company so actually with staging properties as well as renting furniture. So I actually had a big warehouse in office, and I was renting furniture to to investors and homebuyers that you know, wanted to basically. Make their house with much better for selling purposes. So I was doing that in love that. And the reason why that incident it's because I was looking properties in the real jus would always ask like who who stays is property like this looks amazing in also like interior design. So it was perfect. It went handed him with real estate. But you know, I did that business for maybe two and a half years before that out of that business because I got pregnant, and I just didn't have a good lease on my, you know, employee in different things like that. So I just wasn't really go with the logistics of it on once I got pregnant because I could be handle on this possible. So I learned a lot less than some net entrepreneurial path. But after I got done with my business at took a year off, and then I went to law school, and I went to law school because like my parents always wanted me to be attorney in legal K. I can do this real estate thing in can be a lawyer or whatever maybe I'll be real estate attorney. I can do my own closing. So I got into on to law school. And I just I was there for like. A year. But like you could tell my heart wasn't in. That was doing it to please people. You know, what the only things like that? I think the turning point was like I would be studying with my study group in law school in. It would be like you never paying attention. You're always looking at real estate websites. So Romy it was like I don't wanna do this as a living. I really wanna do real estate. So that was like when I kind of really went full on ensue actually being a real estate investor it because at the time we wrongdoing flips on two thousand twelve once I finish law school. We actually started when buying holds in. That's when I kind of fell in love with the idea of being a landlord. So that was taught only been landlords like steaks years, man. I was doing flippant parts all that. Now do still do like one flip a year along with my own rentals. So most we'll talk about your support system because I know that you said you have in this is most people situation. So I think a lot of the listeners are going to be able to relate when you have these notions. You have these people in your corner, but they have this idea of who you are who you're. Gonna be and you know, they want you to be this attorney they want you to go down this path. And you're going down a path. That's not really proven that. Most people don't know can't make sense of so talk about your support system in how you know, maybe you had trials and tribulations through that period in your like, look mom, look at or look has been like this works. This is what I wanna do. Or maybe there were like, yeah. This is amazing. Like what what was that? Like, my has been very supporter like Alabama, whatever I wanted to do my husband's been very supportive, and he always told me like you should just Jamila faithful time, it's my parents and other relatives that are like, well, they didn't take seriously. They were like, I mean, are you making what are you doing all day? That was the question that what you do it all day. So I want that that that those on my head and everything once they start then I started taking my parents in showing them like lips than Sean rental properties and things like that. Then they took it seriously. But I'm sure a lot of people struggle with you know, having a nine to five and having that structure job. It's approved the people that you're actually being productive in your successful. And you just kinda got get that onto him because when the money starts flowing, and you're happy, and you're not tied down to a nine to five. Believe me it's much easier to to embrace the lifestyle of a real estate investor fulltime of who's traveled on a little bit further punch. Let's talk about maybe a later time in life where you had failed. I mean have has failure maybe just apparent failure. Because I don't think failures actually failure. I think failures feedback in the of course wreck, but how his failure impacted your life. How has it sits you up for later success? Yeah. I mean, like, I I think that my business just kinda taught me failing him a business. And I think that just taught me to keep going even like also when you're real estate investor you're gonna have some bad tenants. Okay. Sometimes you're gonna get it wrong. He's gonna pick the wrong Senate. You gotta just keep going you like at the end of the day that property is yours in that ten. It will read that's not a forever situation. Nothing so many people fail on real estate. And the reason why. I sometimes I'll, you know encounter people are like your real estate in. They had of that, you know, like negative look on their face 'cause they're like, well, that's you know, I lost money, and I lost my property, and it, you know, these tenants are horrible because they had that one bags farrington's or maybe two bags variances in allied. This doesn't work. This is not proven. I don't know how people make money in. It's just not true. So you cannot get wrapped up in the fact that you know, you picked one bad ten evict them in born or do cash, Ricky, whatever you have to do in we've gone from the situation in just learn from it screen better. Listen to you an tuition a lot of times, we, you know, a nor rape flags from these tenants because we're so anxious to rent the place, but I definitely employ people to take your time. And just, you know, take your time, maybe read some books on screening, and you know, that that should help. And also, if you're not comfortable just hire a property manager to do it or even a real dirt. To you know, help you along with the process, I love that. And you know, you talk about some of these concepts that makes makes me kinda kinda invasion the market that you're in. You're talking about cash Ricky's in our some of our listeners. Probably like what's that? So maybe explained that what's cash working. I don't think that you need that for for every market. But I think that you know, in certain classes, you're going to definitely want to implement something like that. So explain that with a quick, okay? So Chicago is very tenant friendly. So we will use what a technique here called Castro cheese in that. Basically when you are attended is behind a would like for them the move they refuse to move. It's too expensive to do the victim process or too time consuming. Instead what you'll do is you'll often them lump sum payment in exchange for them leaving. Now when you do this. You wanna make sure in Terni does is you don't wanna go Google do get a documentary near you wanna make sure all your legal bases are covered because that tended to come back in steel trying to start some type of rights. So I definitely think you should seek an attorney had the draw papers basic. Just saying they you know, poor bitch. All right. So the property and that you will pay them on a lump sum cash, and you basically will negotiate with Senate with that will be and you don't give the money until the attendant is actually moved out fully though than so cash for Jesus anywhere snatched a cargo because the process can take five or six months here. Judges are extremely sympathetic if it's wintertime, good luck. Because they basically put him on Torreon on you for actually kicking people because they just feel bad. They don't want the, you know, the people to be homeless no matter time, so it can be very difficult in in in Chicago too. Big someone I could imagine. I mean the last episode we aired in another episode of five or not gonna come out for another few weeks with less up. So that was actually aired as the time of this. Recording was talking about a bad tenants in tenant horror stories in a lot of these these tenant friendly, a ten friendly states. It's almost like you're at their whims. I know I'm in Texas, and we're in a landlord friendly said I mean, it doesn't matter what the tenant says it doesn't matter. What exc? Habit. As a matter what time of month. What type a year what time of year is? They can't prove that they paid rent. They're getting the victim envy. You. I mean, I'm that. I talked to my husband. I'm like, I'm just ready to take our business over the next water 'cause you know, NPR's boarding steak and their attendant on being a landlord friendly state in. They are I'm very tempted. The only thing is just the the rates that against Chicago for for rentals can be compared Indiana. So that's why they in Chicago. But yet Indiana's very tempting sometimes no, so guys listen up. I mean there are pros and cons to each market. Just because there's there's a pro that you may think is amazing, right? May not outweigh the pro. That's currently your markets all of which were able to highlight on that. Now. Let's again, let's kind of walk the year with almost a prison thing the past five years now, I mean, we've talked about the early stages of your journey were progressing younger paths than you started fixing the flipping, and then you started getting to rentals maybe doing a flip a month in flip a year. And now that you've had this experience. You've had the ups and downs. You've probably had sleepless nights, you've probably had amazing days. What new beliefs what will behavior or habit has? Maybe most improved your life in the past five years. Am I just making up at this point? I'm setting up systems as growing because I think it's really important to don't you know, you wanna be able to like maximize your time. And as far as a, you know, ten calls and things like that. So what I do when I'm rehabbing now, if I'm making sure there's a lot of uniformity in my rental. So like, if this faucet works, I'm not gonna deviate and get another policy that countertop works or that appliance works. So basically, I try to make sure that, you know, even the paint colors like all my, you know, rentals have the same paint color all Dessange fixtures as far as mooring thing, laminate flooring. So I think systems are really importing to put in place in it just helps you be more expedient when you rehab. Instead of trying to figure out, you know, hey, what if I see when it comes to repair request. If you already know, you know, what the issue is with this particular thing that you can go over there in pinpoint it really quickly. If you have twelve different, you know, pictures, or, you know, products in your property, it can make it more difficult to just, you know, make sure that you're saving money in that you are maximizing the amount of time, you have systems are really important even just making sure that you have that communication level with tenants. You can like set up an app to like get all your tenant repair requests on your fall in that can help you be more organized. So yes systems are kinda like what I've been improving on for the last six years. So in the systems, how were you which of how what's your favorite way of generating leads at this point? I really do use MLS in. Sometimes my realtor will text near call me and tell me if she has like a pocket listing or she knows something, you know, this coming on the market soon. By do have a couple of wholesalers that will call me and tell me about different things that you know, that they have in our check it out. But for the most part most of my purchases have been on the melas. What do you typically looking for? Of course this week. I love single families to be honest. I feel like Montana stay much longer in feel like they have like a home ownership on mindset, like they don't mind taking care. So they will take your landscaping. They will do change the Bill turn the furnace, you know, change their lightbulbs in different things like that are feel like the multifamily tenants a lot more hands on on where they don't want to do as much so our in. I just feel like my average single family ten it will stay for four years, whereas the multifamily two years, so. Yeah. Single families are in like like three bedroom two bath. So I like to stay in that range. I do have to Baram's, but I like the three bedroom and as far as lips alike, just single family property that are break three bedrooms are more in a garage, or at least some off street parking in Chicago parking nudes really in demand. So those are the kind of things I look for. Nice. Nice. So I want to really quickly get into mindset because I think that's a major that's important factor, especially through your success when you maybe feel overwhelmed or unfocused or maybe just lost focus temporarily. Would you would you do to just kinda help you get back in alignment? And if it helps what questions you ask yourself. Well, I think you can you know, reading books real estate books can help you know, you overcome that or even live in listening to podcasts can cause. I know some woman lords will reach out to me when it first started in they have like a nightmare, janitors or some situation. And I definitely tell them do that. But I think that in my situation having a partner has been key. Because when I'm feeling like, you know, discouraged about a situation or things like that. It's great because my husband can count alike shift, my mindset encounter, give me some of another outlook on it. So I think having a partner it's great because you don't hear the load. I feel like sometimes you may be tired in person. Pick it up where sometimes he's not with it. And then I can you know, keep the ball rolling. So I think if you can have an partner is really really important on of you can get your spouse, so partner to get on board with you. It's great. Yes, highly recommended so when you look at partnerships, even just partnerships in general what I guess do you? I know this may not be apply to your specific situation. But just in general, what are you looking for in a partner? Like, I know that you have certain strengths and your husband have certain strengths. How does that business work in the sense that, you know, you're you're focusing on this or he's focusing on that in how do you got how do you guys just to begin with just basically go on with your strengths and weaknesses? I think that even when I talk about in my book about hat having a partner, you know, just like a business partner with real estate just making sure that that person brings something to the table that you're lacking. Like, you know, I think that your lack in finances. You shouldn't go find a partner who is also lacking finances like that doesn't make sense. So you need to make sure like if you're strong on like, I know how to find a really good deal in. I know contractors, and this person has some retirement money that they want him best or, you know, maybe they had unheralded or something. They want him best. I think. That's a great, you know combination. If you're a person that have money, and you really wanna get in real estate, and you know, someone that is a contractor. That's a great partnership. So just making sure that basically you guys, you know, are feeding off of each other's weaknesses in the strings, but yet for me, and my husband, he is on very hands on meaning that he likes to do some of the repairs, even though I think that he could just you know, I would prefer that. He would just, you know, pay a contractor, but he can't likes to do some of these repairs. So he's wore a hands on type of person. But I'm like more the I will look at the properties in the video. And then he'd just trust my judgment in. You know, we'll wait up the offer in the also I keep track of the money. So, you know, I'll make sure that we're on budget and stuff like that. So yeah, that's can how partnership works. He's fulltime as world with wrote. Now, he has a job, but he will steal say will, you know, I'm. Three on this week 'cause he has like a pretty easy work schedule. So he will when he has some time off he'll try to do. So but. Is not necessary as something that he just wants. I guess he just likes to do. It makes them feel than the I love the L about flexibility. So let's let's talk about your expertise. I mean, you mentioned this book and before we even get into what the books about. I mean, what made you decide to write a book that is a major feat. Why did you why did you write a book? How did you even get the idea to write a book? And then we'll talk about the book a little bit more. So I welcome book because I have settling two brothers that are younger than me like maybe between six and nine years younger than me. So they're in their twenties, and they have friends in their friends are always asking me like how do you get into real estate? Can you mention me they just very curious, and sell, you know, our wrote the book because I wanted to speak to millennial feel like obviously there ton of real estate books out there. But like I just wanted to make sure that I was targeting a particular demographic in speaking a language in finance to get into real estate in Canada answering a lot of questions at odds. Well, it's talking about my pitfall. So that's what the book was inspired from to just get other people. I'll to consider real estate investing as a career or just something to do something to accumulate one. Have your full time job just you can have additional income in also late of passion, racial wealth. Now, he can't pass your job now. But you could definitely pass real estate now. So. How long did it take you to write the book took me a month to write the book while so you were disciplined, I didn't even go to Christmas dinner. He's done it with the children. To get it out on pen and paper. So nothing will stop me. I'm like I have to get it out. I came to the moon moon. So did you just blocked out timing recyc- from no eight? Yeah. And I'm not turn all anyway. Like, I'm up at night. That's that's you know, let's highlight of my day nighttime on once I get my children down. So yeah. Just basically got done at night, most nice nice us. What's the title of the book and told us a little bit about the book, what some of the listeners can expect? If they if they decide that title, the book is real estate and chill. It's a playoff next flexing. She'll Mike I said, I'm trying to reach this particular demographic millennials. And then the book is just basically kind of like a hand holding book to talk about the process of financing in finding you know, a good realtor to work with in screening the property in screening, tents and material that you should buy in just some of the do's and don'ts will property management. So things like that attack about a lot of Meigs neurons is, you know, befriending tenants. When you should not be, you know, having you know, you shouldn't be forming friendships with your tenants. So my talk about my journey, and you know, some of the mistakes are made. So that other people don't have to make them. So yeah, how far what I don't want you to give away too much in the book. But does highlight one of your mistakes that you talked about in the book that, you know, made of listeners can take away something from learn from in our in our conversation, really quick. Well, like, for instance, I had attended this was probably my second year of being a landlord, and she was really nice almost goal teacher, and we really hit it off. And we, you know, kinda like formed a friendship, but the problem was is that she started to move people into the property. And so then it costs more, wear and tear on the property. She wasn't keeping the property when we went to do in inspection later on we found it, you know, it was like filthy in the property because she would always talk to me like out that are texting me. So I never really went in. She would just come out and give you the rent money. And when I would ask her like. Hagen's everything. Okay. As she's she would always say. Yeah. Everything is good. You're good. And in my mind, I'm thinking, okay, she's attended because she's paying all the time in I never had any issues with her being laid or anything like that. And she says the property is good so less than I will take away from that is first of all you should not be going. I do quarterly inspections. So you should be gone your property every three months to check on your property. This is how you make sure that it's not being trashed. That's what I took away. Nelson also found difficult to actually, you know, be objective in in express myself and explain to her different things that she shouldn't be doing because I had this friendship with her. And so that's why warn against having these friendships because once you do that. Now, you blurred the lines in you cannot be as you can't enforce rules like you will win a normal Tenet. Because now you feel like she's your friends. So that's kinda less than I learned talk about that in the book. Most than you, probably one of the most hands on landlords. I have interviewed on my show. So I just want to kind of talk about because as I mentioned earlier, this is a lifestyle design podcast, you are living your lifestyle design. There's nothing that you're doing that. You don't want to do. So I don't want people to think that you know to in order to live there perfect lifestyle or their lifestyle design. They have to automatically put systems entices people vice in be at the top and not do anything and just look at deals in China. I mean, you're living your ultimate lifestyle and your hands on him. You talk about coordination inspections that you're doing yourself. You mentioned that you're going to pick up front Linney yourself. I mean, you're talking about a lot of things that you're doing on the ground. So maybe talk about your lifestyle designing and why you've chosen this path. And wouldn't you like so much about this is the human face to face interaction? Like, this kind of touched on that a little bit more. Okay. So I Don pick up rent money anymore. They all are cash app. I don't do that anymore. When I first got started at his I didn't know any better. But I don't do that at all anymore. But by husband does according if he's. Is busy. What we'll do is. We'll send our handyman in. Which is you know, another point handyman should be like your eyes and ears. They should report back to you. What's going on? But yeah. Like when I do have inspections as far as such makes do do a lot of section eight. I am there. I am present. 'cause I like to actually be there when the inspector is going through darkened see with the repairs are, but yeah, I think that it's really important. They can feel your presence are feel like people are more respectful to your on property. And I feel like they it's more personable like is the pulse to you. Now. Once I mean, once the more I roll this probably won't be as possible. But for now, I feel like people respect you more. They can see you in. They know you in you know, you kind of have that relationship. So just at least a cordial relationship, not friends, but just a cordial relationship and is making sure that your presence. So that they know that hey, I can't bring a family of five into my property because my my landlord comes by. She does check. So I think that's important people think like. Said that because this person pays rent that everything is all good. They could be they could be running Mike a kennel in your property. They could be like moving all ten of their relatives. I mean, you just never know. So you happens spec your property. I've had the worst experiences with this though. Yeah, I'm big on inspections your two kids. Yes. Okay. So walk us through maybe a typical day of yours. And I know that you're you're entrepeneurship you're able to do things for your kids and spend time with your kids in which most parents are not able to do your kids. See that. Like, hey, like mom is able to come to learn she's able to do this and you say to do that. Whereas everybody else's parents aren't talking about a typical day in your world in what you're doing on the real estate end on the business end. And how you're supporting your husband and your kids and your family in a typical day of what you would normally do. So I'm typically I'll get up and get the kids writing for school. I'm able to go to yoga after I dropped him off or it can come home and taken out go to grocery store. You know, look on my app to see if there have been any ten requests or things like that. It's a pretty day of leisure by wanna go shopping if I want to get a massage. Yeah. We've been able to create a really good lifestyle. So that I'm I'm able to be private for my children. So, you know, dinner's ready for them. We don't have to get any fats or anything like that. I think cook everything, and then I'm able to go to PTA meetings all field trips cooking lessons, any type of volunteer at the school. I'm available as far as the children, the extracurricular activities, they have Spanish lessons on Sunday were to come to our house. Also, the children's take jujitsu so on Saturdays. We do that. So you know, we're able to have you know, a pretty comfortable lifestyle and presence. Yeah. I really I really love that. Because I always wanted to be like a hands on mama didn't want to be one of those parents that the only song evening time, we got home working only get a couple hours because the children have to bid to go to school the next day. I'm a beautifully said lifestyle. Designed acceleration Hanks. What is your favorite before the millions book? And this can't be your book millionaire the millionaire next door. I love that book. Nice. Nice. What is that about really quick for the listeners? We haven't heard of it. I'll sell it's a book where the author interviewed about feats Ovadia more millionaires in basically heat a survey nam in he also kinda like shadowed them to see their lifestyle. And in the book, he just highlights how most of these millionaires live in like, your regular suburbs of America. They dry, you know, regular cars, they live in small, you know, a modest homes, but they have tons of millions. And I think it's just really, you know, pushed into perspective because he live in such a consumerism, you know, a world where you think that if somebody is wearing all of their wealth, if they're really wealthy. And so this book just kinda like once you in it kind of helps you can alike, basically understood. They don't have to be as flashy. You can you know, your wealth is better off in your Bank in investing gate, or you know, buying real estate of Binstock. Oh, you know, investing in the business. So that's what I liked about. This book does basically can highlight the real rich people in America in not a ones that are wearing all their wealth. Would do you? Enjoy most about the way your lifestyle is currently designed, and I know we touched on this a little bit. But if you have any anything to add to that. Yeah. I just like the freedom that it gives me, you know, I feel like, you know, I'm able to be present for my family. And I'm also able to, you know, do things for me to, you know, improve things that I wanna provide mice of myself so anything as far as exercise, or I wanna take additional classes or just reading a traveling in fight that. So that's what I like about the lifestyle. What were the sacrifices that you knew you had to make before the millions to get to where you are today. Some of the sacrifices I will say early on. And our real estate investing. We did downside our house, and we even down I had a luxury car at that time. The actually got rid of it in God, a, you know, just basic car. So those are some of the sacrifices that we willing to make in order to accumulate enough money to buy more properties. Who was essential to your growth before the millions? And why and I think I know the answer to this from my husband. Yeah. My husband because he's been really supportive, and he he just en- loves it and embraces the real estate just as much as I do. So this is his passion as well. As my passion. So if yeah, it just makes it work. Why do you think so many of us are stuck before the millions? Even though we have every intention of getting to the millions. We touched on this earlier. But I think that everyone bull people around me that I see that are will express to me that they're very interested in investing in real estate. They're not willing to make the sacrifice. So they will they would rather, you know, pay. Thousands of dollars in rent instead of just finding something like whoa modest or they would rather drive a really expensive fancy car instead of getting something more modest. I think that that delayed gratification is missing in a lot of people. They want it now. And they wanna look like they're richest set of actually being rich. So I I think that's what stops a lot of people. They would rather wear it. And look like it as the pulse actually getting down to nitty gritty and making all sacrifices. Yeah. So. Punch. You like I said, this has been an amazing pockets. So I've learned so much about you, and your values and your story. And this is this has been one for the books. So thank you so much for the value that you've offered if the listeners kinda wanna it's not a little bit more about you reach out to you ask you a few questions dropping all your links here and kind of tell us where we can find you in trying to connect with you. Okay. So you can follow me on Instagram at real estate, and she'll you could also follow me on YouTube real estate michaela's. Well, am I book is real estate and chill on? It's on Amazon dot com is also I tunes if you wanna do audio it's also on Amazon audio in its bars and not noble as well. And then also have a Facebook page rotate jail. So. A whole platforms. Nice and listeners all the links to all those everything that just mentioned on show. We'll be in the show. No. So definitely check that out. And I'll be checking some of that out as well. So again hundred thank you for other value. They refined to our community to everybody out there. That's kind of looking for this financial freedom to looking begins the real estate, and we'll talk to you very very soon. Thank you so much.

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BTM164: Cultivating Dreamcatchers to Exit the Matrix with Jerome Myers

Before the Millions

1:08:35 hr | 2 months ago

BTM164: Cultivating Dreamcatchers to Exit the Matrix with Jerome Myers

"This is Doray. And you're listening to the before the millions podcast episode one sixty four. Are you ready to be the master architect up your life. Are you ready to design Your Business and invested needs that create the lifestyle you've always dreamt up to. Are you ready to learn from entrepreneurs and millionaires? Whoever chief 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 am 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. You are listening to the before the millions podcast. Hey, this is Marcus Chris. The host of the Seven Minute Mental podcast Global Entrepreneur, all round Geek and you listen to the before the millions podcasts I am MC Laubscher the cash linenger, and you're listening to before the millions cost. You're listening to the before the millions podcast a whether you're looking to invest were cash flow 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. What is going on? People welcome to a brand new instalment installment one six four of the before the millions podcast I'm your host d'auray ally, and on today's episode. We are interviewing a multifamily investor. All the way from North Carolina Mr Jerome Myers drama I have a wide ranging conversation and drum got to start. Buying a few twenty unit buildings with few partners, and eventually I think he. He's worked his way up to one hundred unit development, but again we talk about so many different topics from some of our favorite movies, which I guarantee, you have some relevance to his story and to real estate, but from there we discussed some of our property management horror stories, and then we get some really good. Good mindset stuff because we start talking about the concept of a dream Catcher, people who go after their dreams, people who don't settle for the status quo there when and where they are in life, and this is something that trump was really past about how we talk about what a dream catcher is. The six areas of life that dream catchers focus on which are self image relationships career health. Prosperity Significance, so drums going to break down each of those areas for us so that we can have more abundant in those areas. And then I'll end the conversation with jerome. Talking about money his mindset towards my knee, and how he would classify his relationship with money and. His answer was definitely unexpected, so you'll definitely have to stick around for that, but what I think was most valuable was at the very end where Jerome talked about. You know if he didn't have everything that he asked his apartment buildings and has connections and resources. What he would do if you got to start all over, so that is an absolute. Listen to and as always guys. If you WANNA to connect with myself in Jerome and all the previous guests on the for the millions podcast, a lot of us are in the before the millions tribe, so if you over to before the millions dot com for slash group G. R. O. Up. You'll be connected with us in our free facebook group for tribe members only in the way you become tribe member is of course by listening to the show and the facebook group, so that's all right before the man's dot com forward slash group against roll myself in many of the previous guests were all there. We all congregate and offer each other support as we build our portfolios and businesses together. To raise. The week introducing the world's shortest tip of the week. This episode sponsor prop stream. Has Now released a brand new I. O s an Android Mobile APP. Like today like literally today like it was just released an hour ago. Go download it now. Can we say game changer and now to this week sponsor? This episode is brought to you by prop stream. Oh before prop stream before prop stream, I struggled with subpar list. Providers overcharged wasted gas, going to the county courthouse, only for them to run out of cd-rom copies of this month's Leans Lewis I wrongly estimated repair costs, or just simply lack the access to the analysts that I truly needed to get deals done. I mean it was a nightmare networking with realtors hoping to get access to their software. To make things worse, I did marketing on a bunch of different platforms, all of which by the way came with a monthly costs, and I would grab my Rom, I would head home. I would convert out upload the list to a skit trae service, and then ringlets, voicemail service, and then a postcard service, and so on wasting hours and missing potential deals. By the time I was finally in a position to talk to a seller. My were stale and I had to start over again. I wasn't able to get real time. UPDATES of properties sold or taken off the market. Lots of real estate investors are in this position and lots of real estate. Investors are losing last year I specifically brought props stream specialists in house to revamp our lead generation systems, and it was instantly a game changer not only is proper stream one system that houses all my leads and is updated in real time. But the system has MLS level data even in nondisclosure states like Texas where I invest. So now we run our own cops. Our own we have estimates are all title searches all of this in one APP. Yes, one single APP and here's the kicker. Just quenches the surface of the power of this APP. We also generate all of our leads list with this APP from P foreclosures, bankruptcy tax liens by by county courthouse, and then once we have those dynamic loose. We can also use props to market to those leads with postcards, email marketing voice drops, and they even throw in a limited number of landing pages, so you can have a site up and running and less than. Than three minutes, obviously something like this should cost easily hundreds or thousands of dollars per for less than a hundred dollars a month you on the most powerful real estate told that I've probably ever seen for the listeners of the show. Make sure you head over to before the millions dot com slash deal. That's D. E. A. L. Before the man's dot com forward slash deal for few dollars off of your monthly subscription. I went from seven different APPs to operate my business. Go down to two once I met this proctoring and more than anything really provided me and my team with more clarity and peace of mind that link again is before the millions dot com forward slash deal to gain access to the all in one real estate tool that a transform your business. And now your feature presentation. Let's start with this and I think this is a fact that none of my listeners know because it's just never know prompted in any conversation, but in my question I'm going to mention my favorite movie of all time, and so my question is what impact has the Thomas Crown affair had on your life. WHO everybody wants to be time crowd if you. Like. This guy is buying businesses. He's the mergers and acquisitions guy he's flipping on. He's doing all the things for me. It was like man. This is amazing. He's got a plane. He's able to buy our as able to travel around the world I mean. It's amazing and you know the crime stuff. Yeah, so what, but just the thought of being able to put a value on something know that you can sell it or make it worth more than be able to harvest that equity to build wealth. Is just a story. That wasn't told at the dinner table. Knife before before before I started doing some research on Jerome I had no idea that a single other individual in this world. Even know what that movie was I. Really Warms my heart to know that that has had a profound effect on you. As has me as well so that's a super over the next five ten twenty years. I think you become an engineer and kind of walk me through that process. Walk me through college, and how you eventually get to the point where you buy your first investment property. Yes, so let me take it back to when I was working at the fitness center the summer between. Freshman and sophomore year and so. I'm there Sunday afternoon? Nobody been in the fitness in all day for o'clock comes we close at five. Unlike you know what I'm tired of being here. I'm just going to go back to the room. Ryan's GonNa lock up at back and the that was. My supervisor is knocking on my door twenty minutes later. Hey, you're supposed to be working. Somebody tried to use et CETERA. Nobody was there. So like. What are you doing well? Nobody came all day. I didn't think anybody's. Anybody's GONNA comes out. Just shut it down. He said well. We pay you for your time. Not for you to think you need to go in. Be There have it open? And it was at that moment I said I'm GONNA couple might time for money right. I'm not going to have to be in a place at a specific time in order to earn the money that I'm making I didn't know how to do it, but I knew that's what I wanted to do. And so. Fast forward to the fall I move off campus I'm sitting on a stoop with one of my boys Doron was talking about, and we're doing a math as soon as during their free time. Because you know what else do right if you're studying engineering math and we don't. We added it up right. I pay three ninety five roommates paying three ninety five. He's doing the same thing downstairs. We multiply out around the complex. Making seven hundred thousand dollars a year, top line revenue racine. We'd never taught them as okay this. Is it like I found it I didn't know who it right I'm the son of a soldier in stay at home. Mom, so you know we go be civil servants. We go get a good job that pays the bills. You got the consistent paycheck and. You're able to take that one or two weeks of vacation a year. That's just Kinda the system right? You do that for a long time. Then you eventually retire is so I went down that path. I finished up engineering school when in corporate. Started out as a structural engineer GONNA leadership track, two, thousand, nine happened and I'll sit in job that a mentor have moved me into in a hated it for all thirty months in twenty eight days four hours. That was in that role I hated it I didn't want to be in that role so when I found out. I was put in opportunity that they said. Hey. If you don't get a promotion in the next four a months. We're GONNA. Cut Your bonus and bump your salary down to the top end of the job. Litter and I was like what like how Mogo backwards so? I laugh and went to a consulting firm, thought about building a business for them, and within a few months was asked. Commit time. She fraud outside I. Don't WanNa Stop. Mark Consulting career this way the guy came in. He was like. Hey, you know you charge the admin budget this week. Instead of charging the client. I said I'm done with the work for the client. The new projects not come into next week, so I needed something to buy time until I got to the next project. He's like well. You take vacation. Or you charge a client data options you have I was like I. Don't own the company, so I'm not GonNa take vacation when I'm not actually on vacation. And so he said well going to happen again. I said if I don't have a project to charge. I'm going to charge Are you serious? This is your direct superior, yet it was is so I, knew then I had to leave, and so it took me about a month and a half, but I gave him back the ten K. signing bonus went to a new role and. I got to travel all around. The country spent some time in Ghana working on a project mom, fixing the power grid and out in Ghana, and then I got recruited to come to construction company, and so this is a big Hurrah right, so I'm employee number two is June January thirteenth. By A. Late August early September we got one hundred seventy five people on the team. On by the end of the year we built twenty million dollars, may thirty percent profit, and the reward for that was a phone call on Christmas Eve, the any light this jerome. You can either pick the people that are going to be on the team or somebody else can do it I. Recommend you pick the people. At the pick, what half of the workforce was GonNa? Stay on to continue for the next year. And that was my first time laying people off. As they we just may six million dollars in profit. Might what are we doing? Life changed for me in that moment lake a realized that it's about the dollar rate is not about the people. It's not about the sacrifices, not about creating opportunities about the dollar in so. I promised myself. I would never do it again after we got through that and then fast forward to Thanksgiving the next year. They were asking him for the same thing. As like I'm done nats. What I became a corporate America dropout right and it was like okay. So what am I gonNA? Do when we're GonNa do and a started thinking about that conversation I had with arouse I. Okay I'm GonNa go back into apartments now. I got money in the bank data credit score. God business, operating experience like I'm ready to go and knocked on the door. Tim Banks any are all I know. Those like what do you mean? I got engineering license. I got an MBA. I just built a twenty million dollar business. No. You don't have experience. What do you mean like a just? Got All these credentials is like well. You've never bought a Biz apartment this size with this business plan. And we just don't believe in you. You need to go get partner that has experienced during this and then the potential for you to get the loan. And now it's heartbreaking right because I was going to go back to the thing and Oh, by the way like a lot of people think about real estate as just buying a wage it right, and you wanna the widget for something else, but when you're buying multifamily. You're you're buying of business back to Thomas Crown race. Oh, I'm coming in I'm looking at the net operating income on the property in going up and looking at this, Mrs and looking at the income in deciding whether or not. I can make the business do better. In if I can make the business, do better, then we buy it execute that business plan and do one or two things, we finance, and take all of our money back out or sell it to somebody else in harvest all the equity. And so my goal was to be Thomas Crown but the banks Lemme in. So I started fixing a flipping houses, and I was sitting on a stoop of a house in Richmond Virginia a guy pulls up. He's like drum. Let me, check out your finish as we're getting ready. Do one down the street. Okay we walk in through. He's like hey I'm thinking about writing. On that apartment building in Churchill, as I just tried to buy that like four or five months ago. Don't leave me out. Eighties I! What are you going to bring to the deal I? Don't know I just want to be in the deal with you. Don't leave me out. How much money I don't know. We'll figure it out. Don't leave me out and sure enough. He went a wrote that offer without me right and is circled back, so he the Guy Dennis up to offer. He wanted to to one of my brose. And you say I. Want you to come Vita general contractor on the project Oh. That's one you're talking about. Because I talked to him about it back in January or February and. He's like I'm only doing to build your own doesn't do. It so that got me back in the game, and so it was five of us in on that deal. It was one point three million dollar purchase with a huge rehab budget. We test everything bro Roofs siding landscaping parking lot on inside. We talk walls out redid. Bathrooms added a half baffling first floor. Lodge Room on the first floor redid the whole kitchen like. If it was in there, we touched it and. It was crazy because we were able to take the rents from six ninety five eleven ninety five on our project, and for the people actually understand the math they know what a massive increase evaluation that is for a property like that, so that was how I actually got into space in condensing the corporate journey down to a few minutes man. That's the beautiful I deal man. It was a pain it was. It was a heavy left and. There's just so much there, man. This is so much there, so you have to. Be Willing to persist in endure the struggles in the challenges in order to to get through those things, because once you're in, you're in right and the banks were smart man. They lend to me. I'd be bankrupt right now. Because I didn't have all the cash I needed in order to finish the project we went over. Budget has all kinds of issues, but we're able because we have a strong enough team to get through those things right, and so that's the one thing I've learned is like the banks don't invest and dreams man. They have US improving business plans with people who can if it fails cover the issue. and. A Lotta people want the bank and even other investors to part with their funds to try a dream versus. When they won't even put their own money in the deal. Exactly one hundred percent when? When you think about your lead Gen funnel today right a few years later. What does it look like? Yeah I mean the majority from the apartment. Standpoint comes from network. I get people sending me dill's. They WanNA, know one. Do I WANNA partner on the deal to will buy from like a wholesale transaction, and then you know from time to time, we'll send out letters. Market directly to owners We haven't done any of the coal colony that stuff, but the majority of the deals are being brought to me. I think we've established ourselves as a player in the market, and so in that we're getting opportunities to see things before other people will. Solve, some went curious. Walk me through your typical day. Like from the time you get up in the morning and you're like. I got to set the tone right I. gotTA. You know there's certain things that you must do every single day. Certain things that you may or may not get to. How do you think about Your Business? Day? Versus how much time you're spending with family. Just walk me through how your ideal day! What maybe even a day like today looks like for you. Yeah? Today's probably a great example. Right so I get up before five right. I'll do a six mile run. Comeback. Re for thirty minutes journal. And then do some Spanish I'm don duo Lingo Guinness Vanish IRA and then do a link to impose somethin- actually insightful thoughtful. To share with folks, and then after that. Kind of me. Time is over in a dive in things and so agriculture call. Six women first client right in then. Had Are you. Yeah and then we had We had to your the your second podcast interview. We've done today at an interview with in a writer for publication. like a news publication, so we did that, too, sworn him. look that a deal try to decide whether or not that would make sense so now we're up to launch right so now to break the fast, so after a jump off the graphs on lunch and then do another coaching call. And then the rest of the afternoon is and play and then the only other thing that I left out that we did this morning was we met with the property managers, so they updated us on everything that they're managing through the portfolio. We talk to delinquencies new move ins close for things that need to be renovated. And then this afternoon we'll just play whatever comes up right. If it's a go, hang out day, we'll go hang out if it's still grinding and working through more coaching clients, whatever else will get through those things event tonight, speaking dealmaker, live Michael blanks still for a multifamily investing, so we've got a a mastermind sessions for all of the speakers. Saw! Get the dive into that this evening in, so you know. The after news reserved for the family. Right and so try to make sure we get dinner together in some playtime in between dinner in whenever we hang up the. Computer put the laptop away into all that stuff so. What type of what type of faster are you on the breaking at noon? I'm just trying to do the Internet fast, and so the goal for me is like shutdown eating in consuming liquids around eight and then try to go to twelve or or longer if I can. We have a we have very very eerily similar schedule as well apart from the the the taking client calls at six am. I intentionally blackout any type of public interaction until ten am. To knock out like the KPI's my business of similar to you I. Wake Up I. Wake up at four, forty, five and I start my morning. Routine Journal the Miracle Morning Slash Five Am club routine and then today. I hit six miles as well I. Don't normally do, but for some reason I. It's today which do so again crazy. Around the one point five two mile area. Just feeling real good this morning. And then from eight to ten every single days, KPI's the most important things in my business and then. At Ten am I. Know that even though I have a whole day planned and scheduled of calls. Coaching and Larosa talking to but I know by ten am. If I need to council the day, or if I need to just take a day away like I know I've already done the most important things, not only my personal life, but also I want business so very similar. I don't I don't have a huge family so a religious use. My downtime to do introspection do a lot of self self self help. It probably dedicate more time than self my actual business, but it's it's what I wanNA. Do Right so I wanNA talk to you about. Some potential problems in your business drama I remember. When I first converted. One of my four units into an AIRBNB. Okay so I converted I converted, and this is like in twenty, seventeen, twenty at converted this quad flex its AIRBNB and I hired some airbnb property managers. Switch from my demanders to AIRBNB. Niche Property Management Company. And when I interviewed the company Jerome I remember how I, interview went. I remember the guy and you know. He told me who he was, and he was like student president at a school and. I just kind felt them out right and I quickly realized that this was his first time ever being on anybody's property. This was his first time. Having a conversation with the property owner, this was first time for everything. He's literally being thrown in the fire by this company. So I called the company owned on like Hey, like I'm not really comfortable with this guy's assigned in this guy to me like I understand. He's bright bright future, but I need somebody more experienced especially for this property they they said hey, trust us like you know. He's my cousin or whatever I remember the case anymore, but he he. He's good like you know, we'll take care of you like been doing this will. Professionals is what we do. They also gave me the around their projections, and these were projections based on the properties that they manage in the area, so let me cut the story short. Every week or every other week, there were problems and. I I come from Corporate America I come from a big four accounting background, and right after that I went to work for private equity has been based in New York, so I know like office politics, and how to make sure like I leave breadcrumbs and trails so like every conversation I'm was GONNA follow it up with an email I'm always going to you know, summarize what conversation was not only for then, but for me to remember two three four five years down the line to make sure that I'm not not tripping right, so this happens. Every week every other week there's a problem something's going on the property managers not doing what they need to do, and this is building. Sometimes. I, don't get paid for five six weeks at a time sometimes, I don't get paid for two three months at a time like it's. Consistent Mike, so that's the point. where I called the owner, the owner live. I can tell if you lived in California or or he lived in Spain. Literally? He he moved around so much, and then the very beginning of assault, simple to get a hold of the owner of the property management company towards the end have to go from so many different people. Company was growing so fast. So so long story short drum. I ended up having to contact my lawyer because I'm no longer able to collect. Any of my phone's like completely holding all of my funds in reserve right. They have all the keys they have ever. It's like it's like for this. Is Homicide Bureau property because I have no control over anything, and to make matters worse when I try to go to my to my Lord about what can we do about this? How can I get my money from them? He shows me the contract that I signed. And says look. Do you know what this means? And I still don't know what it means to this day, but I make sure that always take him. It'd be like all right. We need a before. People don't tell you that you're supposed to. You know how you sign your apple contract. You sign terms of service here. You Click the check marks you press except. We just assumed that you're just supposed to do that for everything. You're supposed to read it behooves. Since like twenty, seven, twenty, eighteen I, read every single contract and I now know better than I can ask for certain things to be removed I. Mean you just you just don't come equipped that type of information, and if you're not a notch NERF, you don't grow up knowing these things, but that was my first experience. Was My first experience and they put in the contract that I wasn't allowed. I wasn't allowed to sue them. I can't remember what it was like. Arbitration had to arbitrary, and it was just a weird. You know lawyer talking now they got they got me, so I WANNA. Talk about your myself that to say that I want to talk about maybe one of your worst property management experiences. Yes see have to read the contract right and it's a great Aliyu on the dunk this one for. So we talked the property manager who been doing residential moved over multifamily. Think all your smart figure it out, and that was a disaster right? He didn't have the actual resources to turn you in it so I'm there Okay, so we want to have these things online in four weeks, but we've got four units, and nobody started any estimates or any construction are a. we got somebody on site now. The estimates thirty, nine hundred. They sent a bill for seven thousand. I'm not paying that. What do you mean you're not paying? The SMS at thirty, nine hundred, it turn key. Oh well Blah Blah I'm not paying that We get to the end of the roads like you know. This isn't gonNA work. I'M GONNA make a transition in so where this is. The transition happens at the end of March. He says well. We just want to let you know that we're going to hold back. The fees that are due for the rest of the year like what? Side okay well. You didn't demonstrate you didn't follow the contract you to. Tell us that you're gonNA fire. She didn't demonstrate negligence on our part Blah last. Like will, you didn't do this? You didn't do this. You didn't do this. Yeah, but that's not gross negligence so I get the core I lay it all out. She's like you're. You've gotta come with the highest standard somebody basically had to be killed or got sake or something else so, is that okay? So you're gonNA size early termination clause. You'RE GONNA. Keep more money I got. In so paid for to property managers for quarter in order to get out of the contract in his because I remember distinctly, they call them calling me and saying hey, jerome, we. We can't rent this unit at six thirty five when need to drop the right down of five, fifty or five seventy five. Like what are you talking about? Like, yeah, we. We can't do it so few months probably a month later. Okay, we got somebody in at six fifteen. Okay, six, fifteen, six, thirty, five, nine, really that big of a difference we bring the new property manager on. Their throwing a property Iran everything, six, eighty, five, six, eighty, five. We just want to seven hundred this month, right? This is like having the right people. The team makes all the difference in execution business plan without question in so. I can't emphasize that enough and is one thing to be the person to put the plan together, but the person would actually drive resulting execute. The plan is what separates the cleaners from the closers, right? You've got to decide which one you're going to be and then surround yourself with people who live in the same space. One hundred percent I love that absolutely. I WANNA talk about. You know. oftentimes in this is something that I see in many individuals that want success that want achievement that one lifestyle design right, but there's there's there's something I can never put my finger on it and for each individual. It's slightly different, but it's always the same. In It comes down to. You can have all the technical skills in the world. Right? I mean you go to youtube and literally anything under the Sun, you can learn from you to be only to pay a mentor, coach or class or consultant or anything. I mean it's all their elevate bike for free so obviously, that's not the issue. That is not the issue. You have a you have a group and I believe you call them. The dream catchers tell me about is him and so. There's enough people in the world who've exited the Matrix right there. People who have decided that they're gonna live life on terms, and it's my desire to aggregate all those people so that the folks who are looking to exit actually have a community to come into right. If you just go back to the movie, the Matrix Right, and you've got more for years and Trinity in all the folks on the Shep and the NEO answers. If you don't know what to do, once you come into the new place you go back right, but if we can open up our arms and welcome you into the community, then you can survive thorough version a flourish and thrive right in that. I think is a difference maker between somebody, being successful or not successful in making that transition it's. It's crazy because you know we go into corporate America. Are we go into these other places in his? There's nobody there not being the only one in that space whether it's age whether skin color whatever it is, everybody goes into this place. WHO's a dream catcher in their Weirdo or a? You're different than everybody else around you, so we start looking to your left and your right. You're like what's wrong with me. New Reality is you just haven't found that community of people that are like you, and there's these pockets popping up everywhere, and so it's one thing to aggregate the community, and then there's the other thing of helping people make that transition so me. I. Want to be the Morpheus for anybody WHO's ready to exit the Matrix right. I want to put you in that when meal gets there, he sitting in a chair and he gets that I applaud of the new skills that any he says up and he's like again. Forgive me more and just stat that changed at Rafic gross that rapid improvement A. Aggregation in new skills is what I live for because when when it clicks. People become unstoppable, and then they become a superhero right become the hero of their story, and that's really what I'm looking for. I think we've used religious along to make ourselves helpless right instead of using it to encourage us to do things that we wouldn't normally do based on our belief in our own ability and I want people to get back to that place where they're taking control, they use Jaakko where it's extreme ownerships stream accountability in doing everything they can to deliver manifest that dream has been placed inside of them. One hundred percent so these are the entry point right for a dream catcher, somebody who's still employed or just recently divorced their job, and of course I'm entrepreneur. I encourage people to do it beforehand right because there's things you want in line before you walk out the door, you don't WANNA walk out the door with no money in the bank right? Because then you make really poor choices because you're desperate, you don't want not have access to credit, low credit lines or credit cards, because you'll make silly decisions, and you won't be able to get money. You get money when you don't need it. You don't get loans when you needed because they won't listen to you. You don't do. I'm going to expand on that later. Go ahead. You don't the other thing. I would say is like you don't want to leave without having the conversation with the people that are closest to us that may avarice been impacted, so we've got this fifteen point checklist that we give away to folks who are thinking about exiting the Matrix, and that allows them to go through the I can do this this and this. The great thing about what you said is all the information's available for you, but actually putting it together in a cohesive planning strategy is the missing thing, and that's why people pay for maximum. That's why people pay for coaching because they want somebody to curate that content long because you can try to drink the whole ocean. But you're going to get sick. The parts pieces handed to you so that you can focus on executing against those things while you're learning and also de exposure to the network. Have so much more I to discuss, but I know we don't have all the time in the world, so let's talk about the six areas of life I. Want you to tell us what the six areas of life in just one or two or three sentences about each one than will expand on one or two on. We'll close out. You dug deeply man I should. You know. I, think there are sixteen that everybody's dealing with an I. Don't think anybody has all six together at the same time. Everybody shifting or moving, but the first one is self image. Self images followed by your relationships. Then you've got your career followed by health prosperity in this -nificant is right, and so why in that order? Well? If you don't have a good relationship with yourself, you can't relate with other. Other people write your relationship with other people impacts everything so not just your kids, not just your you know your wife or your husband or your significant other, but people that work right, so you gotta show up well to relate with them. When you're relating well with people, you get new opportunities in your job right because you're more influential, people are drawn to you in that grocery leadership, which usually grows income. So. Those bottom three things are the biggest impacts on your health right because they cost stress, your work can cause stress, not done well, or you're not in an environment as health, the same thing with your relationship and usually do destructive things when you don't have a great relationship with yourself, so that's what we get to health, right? We Wanna fix those three things then. We're working on health. If you don't have strong health, then there's no reason for you to have prosperity, because your health is going to rob all your prosperity, and then we finish it out with significance. Right so once you create the money. You're only going to get so much more happy by if you've got ten million. Adding another million is going to make much difference in your life right so now about how can you impact the world in a positive way so that? You live on. You have more impact because that's what everybody's truly trying to achieve like all the money fame and all that stuff seems nice until you get it in. They realized that isn't the game. The game is being able to positively impact other people. One hundred percent absolutely love veteran. I WANNA. Talk about exactly that because I feel as though it's easy to say that right like I mean i. Let me let me let me be the voice of so many listeners. Yeah is wrong easy for you to say you've already got the money. What about those of us that? Don't have the money. It's all about the money. Then yeah I could focus on significance. You have to say that. MONEY'S JUST A. Right it's a microphone amplifies who you already are. So if you're not a generous person today, it doesn't matter how much money you have. You're not gonNA be Jenner's. If you're not worried about helping other people, and with the caveat of you gotta put your masks on first, that's why we start with self image, but once you figure relationship with yourself and then your relationship with others. You'RE GONNA. Be Looking for opportunities to help other because you're coming from a place of abundance right so many people are so empty that they're not able to actually share with others because they don't have anything to share right, it's no different than if you go to the bank account, you try be a twenty dollars out the bank, but you only have eighteen year balance. How would you classify your relationship with money? I don't do anything for money anymore. Right like that was the challenge for me when I made that transition in that transition happened when I was at that consulting firm right? Giving, somebody ten thousand dollars back because you don't want to fulfil the commitment based on their environment that you have to be in order to do that is a game changer right? Because now is not oh, well, what am I gonNa, do or how am I gonNa do it. It's this isn't right. I'm GonNa do this because it's the right thing for the right reason. Instill. At that point late the money stops mattering and because the money wasn't as important for me. I've been able to make more than I ever dreamed. I would be able to make from an equity standpoint, and then just pure cash. Why do you think why do you think like? What do you think is the principle behind that? Why do you think that is the reason? Why do you think that's key? Because the intention is pure right. Everybody I coach a gingerly create more value for them than they would ever pay me right and so. The return that they're getting on their investment. Is justified right? If if I tell you. Hey, give me give me ten grand this year and will increase your revenue business by one hundred. You're going to do that all day. Right, but some people are keep you from losing one hundred thousand dollars, which is much more likely than people actually make money. Everybody wants to make investments based on their ability to make. Nobody's really managing the downside risks when you're talking about investing in themselves, because most people feel like well, I'm not GonNa do anything to hurt myself. I know what's best for me and the reality is situation. There's only this is. This is this. Is that gold and we pulling it out? I hope listening. into bad desert after you've been sitting in the comfort of the air conditioner, you gotTa make all the way across the desert. And you don't know how to get across the desert. You're just walking in his direction, but you don't have any landmarks. The wind is blowing like I got the opportunity to Egypt last year. Right so this is real for me. You might be able to see something off in the distance, but you don't know what it is. You see in a wastes out there, but you don't office Mirage or not like you gotTa. Have Somebody Guide you through that? If you want to get through there without too much trouble without too much pain rate is going to be hard, but magical do that arduous journey on your own without anybody who can look out for you? You, so hey think about this worry about that. Hey, have you considered this? WHOA, WHOA! Don't go over that hill. That's not the right way. Come here yet. That looks like the right thing, but I'm telling you because I did or somebody else I know, did it? That's not what you want really trying to do. This is where you go like those things are priceless. If you WANNA make the desert, because the other thing that happens is right, the people go back in right, so you to desert gets high on minimum sweating on avenue four I'm going back in here to air conditioner, whereas more comfortable and what you realize, you're given up your dream. Your dreams on the other side of all the pain, your dreams on the other side of all the challenge, and if you not willing to go on the other side of the. Chasm this in between the dream. Then you can't manifest it, and because you don't manifest that you're GonNa, let somebody else down because they're counting on you to do your thing, so they can do their thing. Absolutely absolutely man, and that's how I like to think about it i. think that you know as entrepreneurs and you know I. Think about it from like a capitalistic way like you know. Know our businesses fuel so many people so many jobs so many I mean if you just think about it, I mean I just think about just going to eat at a restaurant, and this is how I think about the abundance of money, right like when I go to eat at a restaurant and I pay my check at the end of the day right to twenty dollar bill and I. I tip the the waitress you know a five dollars, and I know that the other fifteen dollars. A little bit of it is going to the government on a little bit of is going to the cooks in the kitchen. A little bit of it is going to the busboys. A little bit of a is going towards the food and the products. You know we were able to get. Get the truck drivers. A little bit of it is going to the people actually manufacture the food and I'm just by again. This is why they're doing the whole stimulus. Right for the US THEY WANNA put money into the economy right, so we have a robust economy, but again just as an individual I think about how much power each dollar that I spent has and ultimately you know. When when I when I look at it and I think you brought up a great example? Look at somebody who's been trying to get into real estate who's been struggling and I and I asked him well. How much you know! How much go? How much are you trying to make here and like I? WanNa to make five thousand dollars a month and quit my job in traveled the world ten K and quit my job. Child Road and I'm like that's awesome. That was my goal when I first started. Started out and I wanted to get to that goal as quickly as possible. How long has it been for you and it was like? Yeah, that's my goal. Since two thousand seventeen I was like well. That's when I started in three years later. What are you doing? I'm still trying. I'm still trying I was like I started the same time. You and you're still trying to get your first one. What's going on? And, they're like well I mean. School jobs kids all this other stuff and. I. Go back to that goal of ears in why they're not getting guidance in why they're not putting their best foot forward and I'm like well been trying to make ten K for the past three years and extra income. You really lost on on almost seventy five grand. What's going on like the? Thousand Dollars or five thousand or ten kids pain for coaching I. Mean You would have been gotten that back if you start at that three years ago like you're. You're looking at this fee as like. This is an expense instead of an investment. Something that you're GonNa. Multiply like you're looking at are wrong. You can't be successful from that mindset and you're smiling I want you energy because I feel, he got someone say. Now. It's just crazy because it's the ego. Yeah, WANNA. Pay You because Dennis says that you know more than me like that's all it ever ends up. Mark. How do I know that you're actually going to do it right like it's the accountability piece right? I don't WanNa be account with you. Right yeah and. Use something as a four figure. Check more now. I gotta be accountable because I'm paying for it now. Won't you tell me for free because you're not gonNA listen You're not. It's merely a suggestion, but as soon as you start paying that trusted adviser a consulting fee. You'RE GONNA. Take that advice intrigued like you would what the doctor said or what the dentist sad, or whatever these other people who you pay a lot of money to for their expert guidance and you know people Yeah, I can't emphasize enough as ego like. There's some people who know more about certain things than you know, and it's worth the investment and having the accountability partner to aggressively help you move towards those goals in even if it's not an income thing, there's just so many mistakes you can make that. Somebody can prevent you from. Oria. And going back to the point like you're spending six hours on yourself every day right before you talked to. Anybody spent six hours. Not many people are willing to make that investment so imagine how much further you get ahead of somebody. If they only spend an hour on himself a day right just a month, right you. You're one hundred eighty hours going thirty. You compound now over the year, and it's just like these insane ratios insight well. I'm not consuming as much contact continuity so hookup possibly back to the matrix deal right. You're in that chair getting it every morning. Somebody some okay I'm good. I got enough right and you know the last thing I've been saying related to. Real estate in particular, I think people have been disrespected the craft and offense meaning right? You're going so. I need your investment man and you just say me half a million dollars right. I'm going to fight I'm starting my career in finding Conor McGregor. Next week. CAST for year, a washing videos on a read a few books. I. Don't have a trainer. I'm doing all of my own. I'm. I'm GONNA send you. This was me by way. I'm a piece of the return. TERM IF I win. If I don't win. You don't get any of your money back. And there is no losers purse. Nobody's writing that check. But that's how people talk about their real estate investment career. And they WANNA go fight conor. They don't WanNa go fight. Your I will say this and everybody's like this, but. I will say that that is so much more to say than the people who don't do anything at all. I'm with you a thousand percent. Mike. My only add onto that though is you're not being reasonable when you expect other people to invest in your dream in a way that you won't. You can't expect I love the way Gary feed the puts this together. You can expect anybody who works for you or investing in you to be more vested in your destination that you. Insult people who WANNA go raise money for ventures, but they're not willing to put cash out their 401k or put stuff on a credit card. Put It on a credit line, or actually do the work to save the money so that they have something to put in just from money for spider. Forget the time just the money. I don't know how you can expect anybody to be all the way in on you like that just doesn't make any sense to me. One hundred percent, absolutely absolutely man and I think again this is is conversation man, it's it's opening. A lot of is in perspectives, and you know your concept in I. Think about this umbrella like. A you know a dream, catcher or dream chaser. In fact, right like you think about You think about the fact that. Everybody I've personally I could be wrong. Especially in, Corporate America people. Pair about real estate, people know the. Intricate benefits of real estate people people here. The these these quote being thrown out there. Hey, and ninety percent of millionare's have done so real estate and you know financial freedom, today and people people. People hear these things either I don't think they internalize them, but viscerally hear them they see it. They consume it, but at the end of the day it's. They're not taking their dream. They're not chasing what they know to be. True Mind you jerome when I first heard about the concept of real estate investing from a point where I as an individual can invest thirty days later, I bought my first property I had. For me and I know a lot of people out there like this is all for me. It was just I didn't know. I didn't have the knowledge. A minute I heard and I knew I did, but there are people who who have this dream, Jerome and this is our last question before we wrap up. There are people who have this drain this massive Jim. I mean I know people that I was working with in corporate America. They had the same idea that had the same yearning that. I WanNa do this anymore. And years later. They're still there. What what what what advice do you have for a young college, student or young professional somebody? Who's just like I need that? Kick Star Anita in need like why I give Kudos to the people who have this audacious goal because I was here like I thought hey. Have, accounting, background I just wanted to get this finance background. I've I've consulted for Twenty Billion Dollars Hedge Fund. I did all these things I got property. Let me go raise money for this forty million dollar bill and see if I can. Of course I can do this I. Think and grow rich right and I failed, but again I felt so many times. What that failure in many other fields me to continue to go allowed me to see from a new perspective, and that's why I say yes. Those people are absolutely insane and I was absolutely insane, but absolutely. If you're doing that, you're doing something. Keep it going. Keep figuring it out. Keep tweaking, keep twisting. Keep getting more experienced than you're on the right track, but again I want drink the the people who are not doing anything today and they've wanted to jerome. Tell me what they can do. Tell me how they can. They can. They can flip it so. PISS everybody off right now right here. We go right there in love with the idea of doing something. They don't actually want it. They liked the idea. Right and so when it becomes a must, when it becomes the need, not a should or want. That's when people actually do it right. There's this crazy story about a farmer who's got a dog lane on a porch, and the dog grows every now and again and the farm and his buddy. You're sitting in rocking chairs eliminate and the buddies. The the farmers buddy says hey, what's wrong with your dog? He's like oh he's laying on a now. He said. Why does the dog get up? Said because it doesn't hurt bad enough. Bad enough. I remember what the Golden Handcuffs look like. Oh, I remember what thinking about giving up the big house or the exotic car felt like. The thought of going to no income, because I didn't have a paycheck, so we're addicted to paychecks right this the thing that we're addicted to more than anything else I forget all of the illegal stuff. Forget all the legal stuff. People are addicted to paychecks. It's literally a dopamine. Literally, it's a drug. It's literally a drug. And you and you get every two weeks like clockwork. You've been getting it for years. It's so ingrained Oh. My God go ahead. And as soon as you realize that you don't need that as soon as you detached from the thought of payday eight. Oh, I can go do this because I have a payday. Your life changes right so I was making enough money that I didn't even care where payday came. It didn't matter if they came because I had money in the bank, and then have to try to figure out how the mortgage was going to get paid or any of the other stuff, it was already there and so I was able to do what I wanted to do. And when you start detaching that way and people are like crazy now when you start detaching that way. All this other stuff goes out the window. WHO This episode is brought to you by prop stream. Oh before prophesying before prop stream is struggled with support providers that overcharged wasted gas, going to the county courthouse, only for them to run out of cd-rom copies of this month leans lists. I wrongly estimated repair costs, or just simply lack the access to the. Truly needed to get deals done I mean it was a nightmare networking with realtors hoping to get access to their software. To make things worse, I didn't marketing on a bunch of different platforms, all of which by the way came with a monthly costs, and I would grab my cd Rom I would head home. I would convert it out. Upload the list. Skip trae service, and then our English voice, most risk, and then a postcard service, and so on wasting hours and missing potential deals. By the time I was finally in a position to talk to a seller, my leads were stale and I had to start over against US I wasn't able to get real time updates of properties that sold or taken off the market. Lots of real estate investors during this position and lots of real estate investors losing last year. I specifically brought props stream specialists in house to revamp our lead generation systems, and it was instantly a game changer, not only prop stream one system that houses all my leads and is updated in real time. But the system has mls level data, even nondisclosure states like Texas where I invest. So now we run our own cops. Our own we have estimates our own title searches all of this in one APP, yes, one single APP and here's the kicker. That just scratches the surface of the power of this APP we also generate all of our leads lists with this APP from foreclosure, bankruptcy and tax liens by by county courthouse, and then once we have those dynamic loose. We can also use props team to market to those leads with postcards, email marketing voice drops, and they even throw in unlimited number of landing pages so that you can have a site up and running in less. Less than three minutes obviously something like this should cost easily hundreds or thousands of dollars per for less than a hundred dollars a month you on the most powerful real estate tool that I probably ever seen for the listeners of the show. Make sure you head over to before the millions dot com for slash deal. That's D. E. A. L. Before the millions dot com slash deal for few dollars off of your monthly subscription. I went from seven different APPS to operate my business down to two once I made the switch to proctoring and more than anything. Really it's provided me and my team with more clarity and peace of mind that link again is before the millions dot com forward slash deal to gain access to the all in one real estate tool. Transform Your Business. Drought. Let's say you have all your experience you got. What you having your head? Nobody can take that away from you. But. Your assets are on all of them your money. Your buildings. Everything! You have to start all over. What in the world would you do I? All the guys on my mastermind say I'm down any help. Your down in Nebula is your net worth, right? The people who are closest to you. Forget how Jay Z. put it right, but basically he said we can each other crutches right in so for me. I'm going back to the guys who were crushing as like I. Just lost everything. Explain why loss everything whatever the reason is. I need you guys to help me get started again. And whatever I need to do I need to work for you. If you've got a builder neck and run whatever it is, let me get back in the game. And that's my first call. It's all about the network like that's what every wealthy person does. Whether, it's. Feeding off their. Listen I okay. Well, semi product Simeon newly magnet, so I can send it to my list, so we can get some revenue coming in whether it's working in your business so that you can get back together like there's this amazing story from guidance casing I came over from India. One of the guys gave him a gas station to run form. They split the profits. He brought up his reserves from that he was able to go buy his own gas station. In now. Those guys partner in they keep building up. He said I put one hundred thousand dollars gas station. Get six, thousand, sixty thousand back the same year. was like what he's like. Yeah, that's what we do and you can only buy gas stations in cash, so Blau outside. This is insane. He did his acting thing right. It's about your network and people undervalue the network either because network, invaluable or there with the wrong people, but that's how I get back in the game. I absolutely love that one hundred percent, beautiful, beautiful, beautiful, one small caveat for our listeners, because I want to take this to the root of that question to make sure that we get all of our guests in the future to answer the same way. Let's just say you didn't have your network again. For our listeners who don't have your network, right? What would you do? You have a everything you've learned over the years You've accumulated so much knowledge and you know some people may be. Be of the mindset well. If I knew then what I know now, I may not even be in this business I mean even grow this way because of what I know now what I would tell younger me to do. This is what I would do with no money with no funds, but all the all the all the imagination, the learnings built up over the years is exactly how it Exco this plant. What would that look like without your connections? Man that gets super tough because of. The businesses that I've decided to be in because I've intentionally chosen things that have mode around them, right. Now intentionally chosen things that everybody can't do with with the low barrier of entry. The folks with did half wholesaling business. Are. You gotTA. Do is get a list, and you can start calling people right like that now. They're a competitor of yours in so that's part of the reason why I'm not in the space I think. This question is very like. You when you pull it out, you'RE GONNA. Put On for somebody else. Who has no idea what to do right now? WHO's resources? You have yeah. Like twenty five twenty year old around. You know everything that you've learned over the years from all your mentors like. Do you got the whole World Russ? What like how do you start? Yeah I'm. A know everything I know right now. Everything you know right now. You just don't have the resources Gonna I'm GonNa, go a pull it lists. Go here. We go here. We go here, we go. The G. I. S. FORMICA, local city or county a may get a list of all the properties right and then I'm going to start. Talking to every single owner on the list. I'm. GonNa. Get that property under contract at a deep discount. METAIS that property. And share with an experienced. Somewhere right because I've got the knowledge now I've got the deal right? I think every investor Sean for things knowledge deal flow, experiencing capital I'm GONNA. Take that deal that makes me valuable to somebody who's in operator in used their. Say All right. I got this dealings with amazing. I want to be in the deal. Or Masella to you either one I'm good with either one I'd probably go to sell it to him because I. Want Money Right now. Right so a partner with them, so that's either calling. Everybody has a pie cast. That's going to a conference. That's just youtube figure out. Whoever's the educator share that deal with them? And from that transaction, get my first hit. Lifestyle designed. Acceleration hangs. Is your favorite before the millions book? Millionaire mind set by GINGRAS EEOC. Success Habits by. I have that book I haven't read it. It's amazing, really amazing. The stuff. You've got assistance and all this stuff. It's it's good. That's awesome woman. Check it out. What is your favorite lifestyle design? APP This can be a business APP or tool. Say My calendar Yes. You can. Oh, what I would do without my calendar. It's as me 'cause. I double booked to meetings today and Somebody actually probably didn't book meaning. They said they booked, but. Just gotTA. Move around it. You know, but Yeah I. Mean My calendars everything it allows me. People don't like calendar. But I feel like he gives you the freedom I. I actually scheduled this time for me to do this thing, and then I can communicate that to somebody especially if they're waiting on me to do something. Hey, I'm get to this at this time on this day. And you can expect to have it after the fact instead of Hey, where you going to send it when you're going to say Home Nelson do Liz I hate to do this time blocking the game. I love. What do you enjoy most about the way your lifestyle is currently designed? Flexibility. The freedom piece of it. I get to control my calendar. I get to choose who spend time with WHO I don't. That's the game. No one hundred percent. What were the sacrifices that you knew you had to make before the millions to get to where you are today? Comfort you had to give up the comfort right? There is no real growth in the place of comfort in so knew that that was going to be the thing that require the most of me, because once you start making money. Comfort becomes the expectation. In a lot of us get soften our, COMFORT We forget how it is the grime. Do you believe this is off question? Do you believe that there is a positive correlation between grinding quote unquote in the amount of money that you make? Now Explain that to me so once you set up a system, so the amount of money make is based on your ability to scale. Your ability skill isn't tied to. Your grind. Your ability skill is the. Being able to go to a bigger audience. Or duplicating yourself through other people is this why Janitors Co work way harder than you and I wait and they should get paid way more than they're getting paid, but they don't. Teach. Officers firefighters all of them, so you? You've got to create the system in order to generate the money, right? That's why we don't do property management in house. We outsourced that because it's a low paying. Repetitive activity is extremely important, but as low paying the real money's made in acquisition and taking advantage of the equity created from executing a business plan. James guys gems. Coup was essential to your growth before the millions and why? My Dad I, mean he? He's a superhero used jump out of airplanes showed me what Love was, and I think that's the only law right. We can see the humanity in everybody in every one that we act in love, and we extend grace it. The the world just becomes an amazing place safer everybody. 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, because intention isn't enough, right, action is the difference in so if you're not willing to take action, so. This is one of my favorite things right? A lot of people know what they WANNA do. Some. People know why they WANNA do it. Very very few people know how. Right in so if you're not willing to make the investment on the, how and have somebody help you with the clarity on the why the would always be there? You got to close a gap on all three. your how messed up if you don't have a solid strategy and somebody to walk with you along the journey for accountability. You can forget about it. We're GONNA. Talk Off I have almost the exact opposite belief in what you just said. Almost the exact opposite and I love that we can have that bouncer because I believe that The how is easy I? Believe that what trips people love. Is The wedding the Y? You know like I've seen so many people who they can find the technical know-how, but. Again it's like people just. Either your y going back to that dog like the dog is just not painful enough right, but again I think we can talk all day about this. Varian viewpoints absolutely amazing to me, so we're going to have to bring you back on. This has been absolutely fantastic. It's listeners WANNA learn a little bit more about you. They want to learn a little bit more about where they can find some of your information your podcast. Your mastermind a you're doing so many things, and then of course you have investors that you work with in the apartments basis Where can I find some information? And I think the best place for your listeners is Jerome Myers Dot Cosa J. R.. O. M. E. IN YES DOT Co.. The best place because they can find everything there if they're interested in real estate. We touched on so much stuff. They're interested Dream Catchers and the coaching lifestyle stuff they want to learn more about. How we invest all of that stare, so they can pick Susa fancy from. However absolutely all right Jeremy. This is an amazing again I gotta get back on for too, but until then my man, we'll talk to you very very song. Reset you. Bull.

Mr Jerome Myers America property manager partner AIRBNB facebook Mike North Carolina Dennis Doray MC Laubscher Lofton Diriye Gina
BTM 82: When Manifesting and Taxes Collide with Shanyn Stewart

Before the Millions

1:04:37 hr | 2 years ago

BTM 82: When Manifesting and Taxes Collide with Shanyn Stewart

"This is. You're listening to the before the Maine's podcast episode. Eighty two. You ready to be the master architect of your life? Are you ready to design your business and invest the needs that committed the lifestyle you've always dreamt up into are you ready to learn from entrepreneurs and millionaires who have gpd a certain level of success? Hey, this is Derek location independent entrepreneur. And you're listening to the before the millions podcasts. Gina lofton. I am an investor and you're listening to the the core the millions podcast. Hey there. My name is Heather haven would marketing coach and global entrepreneur. And you are listening to the before the millions podcasts. Hey, this is Mark script the host of the seven minute men to podcast global entrepeneurship all around. Geek. And you listen to the before the millions podcasts. I am MC Laubscher the cash loon injure, and you're listening to before the millions bought cost. You're listening to the before the millions font cast a whether you're looking to invest were cash flow all built an online business that allows you to be location. Independent. You come to the. The right, please. Mr. Hollywood himself presents the before the million spot chaos. And now your host d'auray. Hey, what's up? What's going on champ trial, derail air and welcome? To another episode of before the mayor's podcast on today's episode. I am super excited and it's because like. At the end of the year guys. This one is twenty nineteen and this year has gone by so fast. Many of you are in the process of starting your business buying your first investment property and last episode episode eighty one I mean, we literally showed you exactly what you needed to do able to form your first entity when and how you should form that entity. So that you can protect yourself and your athletes on today's episode with Shannon, our tax strategists. We are going to have a powerful conversation surrounding mindset. Yup. Mindset a powerful conversation surrounding meditation manifestation, and of course, as a tax drive this. We're going to have to do some tax by most hat's almost hard cash any the boring. You guys are just like I don't like this event your standard wanna hear this while this up so guys made it as fun as possible. You're so many gems I've already at least four times it's that good. So you combined lashing felt in this episode. You're gonna be able to start formulating a plan at least for the new year. Haven't started yet to create your business the business gonna eventually allow you to live the life that you wanna live on giving you the tools on these episodes to build a business with the end goal in mind. So the sex lane episode is going to be like, no other. You are. Going to learn why we invested in real estate one of the tax benefits of investing real estate. You're gonna learn if you have kids if you're planning to have kids for your new you're gonna have kids way down in the future. I mean, I don't know. But you wanna learn how to pay your kids? And right. The whole amount off some set of just giving allowance which are going to do already anyways run it through the business, and we'll show you how office space in your house. Right. It off your car your gas any everything that you use for your business. Start writing those things off if you haven't already been doing that we're going to give us all about today's episode. We really I know people who would package episode eighty one and this episode absorb eighty two together in fell that I thought properties episodes are me I've been doing a lot of planning myself a twenty nineteen avenue site going up in a few weeks in about three new products rolling. Now, we're going to have a new focus on social media and probably by next week will slowly start dripping out all of the new things that we have in store for you. So anyways back to this episode. Before you, even listen to go ahead and share it with red friend. You know, that just started the business friend, you know, that has questions about taxes ask questions about planning ask questions about what can I can't write off ask questions about investing real estate in? How practically party that ask questions about the money that they make it work in how they can stop paying so much in taxes. Yes, we're gonna show you how to offset your W two income with cash on real estate. So that you will be taxed less on your paycheck at work. So without any further ado, let's I get to tip of the week. To raise of the week. So here's my thing for the tip of the week is earlier this year in one of our more popular episodes of some thirty one was a Selo at this old than I did for you guys. Just kinda highlighting reasons why we should go ahead and get started investing in real estate and rental real estate this year reasons, why it's crucial absolutely crucial to invest in twenty eighteen but I mentioned something that I've been thinking about lately, it's not something that I would take back per se. I mentioned that when it comes to taxes, it's not good to get a tax refund. And I said that because when you look at the numbers again, I'm a numbers person. You look at the numbers, and you see that the amount of money that you're getting as a refund that money is money that be government owes to you. Meaning that throughout the. Year every single month every single check you've been making payments of government in the form of taxes, but you've been paying a little bit more. Maybe a lot of it more. And because you've been paying more at the beginning of next year when she filed your taxes, and you get your refund you're excited because you have a refund check, and it's this this feeling that's undescribable. When you have that money coming your way money that you feel like you didn't earn. You didn't save is just kinda just filling your lock it's a wonderful feeling. And I talked about in that absorbs thirty one the fact that when you get that refined. It's not the right thing to do. It's not the right thing to get because every single month that extra that you're paying and this every single month for every single year, but extra at your pain, you can take that. And you can actually invest that read. Where you can save it to where it's substantial amount where you can invest that. Because for twelve months of the year until you get that refund. That money is not doing anything for you, you letting the government borrow that mountain, and they're making money with that money plus interest rather than you'd you making money with that money plus interest. So although there's almost safe-keeping your money like it's a savings. There's no reason why you can't do that yourself and put that one to use. So that you can start multiplying those fronts throughout the year. And that was my whole point when I said that and it's still rings true to this day. But as I said, I've been doing some growing, and I've been thinking when it comes to what we're about what we talk about which is lifestyle lifestyle design living life on your terms doing what it is that you want when you want having a business that you love you're passionate about being able to Bill generation a lot for your family. All these things we do these things, but we strive for these things to make us happy. So of happiness is to go, and we should always look to try to do things that make us happy. And again, this is going to contradict a lot of things that we talk about because finances are numeric in value. So that means there it's quantifiable, but you can't quantify happiness you can't quantify Kice. So the message for this tip of the weakest the price of peace of mind. Really? What is peace of mind worth to you now because I am from an analytical background. I will look at the numbers. And I would say this is the right way to go. Because this gives you more bang for your buck or biscuits, you better return. But for a lot of people when it comes to what truly makes them happy in any situation. It can be the littlest instance. But what makes people happy as what makes people happy some people? They want to buy their investment. Properties or even their primary residence and own it clear all cash and some people do that in there. So successful at it. And there's nothing wrong with that from a numbers perspective. Again, you're going to clearly see that if you use leverage use other people's money, use the Bank your returns are going to be far greater from a numbers perspective. But going back to that growth. It's not about that. It's about happiness. It's about peace about creating the lifestyle that you Dame for yourself. And if it's going to help you sleep at night, knowing that your house's fully paid off then cannot attend times by all means do that, quite frankly, I know that there are many things that I could possibly think of in my life that I will choose happiness over. Over what the numbers play out to be when he's aware example. But I mean stick with me is fantasy football and infancy football. There are what's called projections. And these projections actually predict we amount of points that you're going to score that week based on the line of state and put in. So if you go by the numbers, you can always choose to select the right players to get to the maximum amount of points. So that you can beat the other team. But nobody goes by the numbers. I mean, we start off by the numbers, but quickly after we want to incorporate some component of emotion. Some component of how I feel about this player for how I feel about the weather condition. So how I feel about this because it goes back our emotional, what makes us happy. And if I don't feel right about this guy, or this guy note, he starting for my chain based project the task fifteen points, and I feel. Better about this other guy, but he's only protected to have nine points. But I have a feeling that it's going to be a good day for him. I'm gonna put him on my lineup. Every time regardless of what the number said that was the weird analogy guys. I hope you guys get what I'm saying. If happiness is the go do that makes you happy. I feel like many of us were so bent upon impressing, our belief system on others, if it's different when the person you're impressing on wants to be open wants to be receptive and wants to learn. But if they're happy if they're content there is no, greater joy. That's what you should want to that person that individual. That's what you should want for yourself. So in this real estate investing journey in this business journey your life journey. The goal is to do that makes you happy. If you're not doing that. Why are you doing at all? Because if you ask somebody. There. Why anybody for anything that they do? It is ultimately always going to lead back to it makes them feel good. It makes them happy. If you get down deep enough. Why did you get married? I love my wife. I love Marsden. Why do you love this person? They're carrying are honest. They're giving. Why do you love that about them? Because it does something to me makes me feel good. I like widing take your son base law practice because he needs to do something after school. I don't want him sitting at home playing video games. Why does he need to do something? Besides find Bego games because I wanted to grow up to be a smart intelligent person. Why do you want him to grow up to do that? Because I know that put him in a better position. And he'll get his goal. Why why do you wind to get go? Maybe it will do something for you. It'll make you happy perhaps. Why do you want financial freedom as not literally guys ask yourself right now? Why do you want financial freedom is it? So you can have the things that you've never had. What are those things going to do for you is it so that you can go to the places that you've never been to what is that experience gonna do for you? So that you can take care of your family. If it is why you feel it's important to take care of your family because it's the right thing to do. Because why wouldn't I take care of my family? What kind of question is that? I think you do it because it makes you happy at think by making them happy that makes you happy because when you bring joy to others, it makes you happy. So it's not that bad. But that is the root cause of everything that we do do what makes you happy. There is no price for peace. Let's get to the show. And now your feature presentation, first and foremost, let's introduce MRs Shannon, Stewart. Hi, shannon. How's it going? Thank you, Shannon. I've done some research on you. And I I've gotten to know you a little bit further through our conversation before this call, but I wanna listeners really great to kind of have that background. So maybe in a quick fifteen seconds. Just give us a brief summary of what you do today in. How you help your clients? Definitely. So I am a tax strategist sun a little bit different than about ninety seven percent of all tax professionals that exists in our environment attack strategist as someone who's gonna proactively look for ways review to reduce your taxation into save you taxes. My background is I actually have been doing since nineteen ninety six. So I have a full-service county financial planning firm, and we have over eighteen hundred clients nationwide and actually internationally a big base of our clientele or international now is well because people are living the dream. They had that passive income. And now, they're traveling the world, so attack strategist Mike goal is just to be very proactive until point out all of those places that you might. Be missing and paying Uncle Sam too much people here the subject of taxes and accounting the halos bore over they fall asleep. They're like, this is not fun. This is not entertaining. I don't wanna hear this guys. We have we have a really good episode in store for you guys in. It's it's one of those things where I mean, my background is many guys note wasn't accounting. Now is a big four accounted for a long time. And to make this podcast interview. Most beneficial for you guys we're going to literally start from the grassroots. We're gonna talk about some of the benefits just a general benefits have invested in real estate. And what you guys have to look forward to for those of you guys haven't started investing in maybe those of you guys have starting the best in in your looking to sell. It was ten thirty one exchange will talk about a few other things like cost. So we'll talk about a lot of things that you guys may or may not already know as far as like tax incentives and tax breaks. But we want to make it as crystal clear for you guys. So that if you guys want to you guys can go on and either reach out to Shannon or go on into your researchers hope to your own account into your CPI, your bookkeeper, whoever it is. Is at have them help you get on your wife's let's maybe take back a little bit, Shannon. Let's let's let's talk about the inception of MRs Stewart and how she came to the house. She how she's become this prominent tax adviser that she is today. Listless maybe taken before nineteen Ninety-six talk about working at GE talking about even getting the job Aji. What was your major in college? Why did you decide to come down this path despoiled? Question. I actually had a major of organizational development, and so JI ease really big on six sigma. And I had that walk in the day. It was called total quality management before six sigma on dating myself there. Hope. Back on quality in in HR. So it went to work for GE. And they realize that I had a knack for numbers. So I am blessed with a photographic memory. So I I read things in it sticks in my mind kind of weeks meek for numbers, and as I started to work my way through GE in they they noticed they had this this trait for for numbers. They promoted us into a position I had there was one of two one up to adviser that work exclusively with GE employee's. And Michael goal was to go out into the field end to help people establish their wealth. That was my that was what they that's how I I- funneled into this. And it so it wasn't something that I went looking for. It was something that just kind of grew out of being around people and finding mentors within the business, and I just started going into alignment with different mentors. And as they they kinda went up a ladder. I wouldn't they brought me with them. So I was very blessed in that situation. And I was at the right place at the right time. And that's how it happened. But like GE so have you ever watched? What GE does GE is a conglomerate that owns several different types of companies, actually under the companies and intrude G, E fashion. They decided to get rid of the company I worked for they just called us on a Monday and said on Friday were selling this company to another company in you. Here's your Cobra repackage benefit package. Thank you for your years of service, and it was done. And I had something very credit mean in that moment, you it's oftentimes in those moments of conflict where you know, where you're the person you're going to be calm formed. And so in that moment, I called my father to first thing. I did was call my dad's. I want my gosh. What do I do? He's like police stuff up by bootstraps you've got this. And so I ended up calling twenty eight of the different to eat presidents actually happen to be my client at the time. And I said I'm going to form my own company doing what I've been doing for GE. Will you come with me? And every single one of them said, we're with you. And that was where the birth of my company came in. It's all these years later. I mean, twenty twenty two years later, and we're still here, we're growing exponentially. But I'm unlike a lot of individuals, I am not your average tax freshman when you think of your average tax professional, you think of an older gentleman with the pocket protector. He's going to, you know, you'll scratching numbers on a piece of paper, I other passions. So one of the things is like I own a holster company. So we make concealment garments. Pollsters for women. I own other different ventures real estate and things of that nature. So I tend to want you'll even though attacks professional. I'm an entrepreneur, I I just happened to make my money being attacked strategist. But the mindset of an entrepreneur. And I think if you my mindset of the entrepreneur, you can make money doing anything, and I think that really states perfect because what a way to make a positive outcome. So you can go out and have other yoke -ccomplish or other goals and dreams as well. While. Shannon. I was not expecting that. While you came with it. My goodness. That is amazing. You know, it's crazy because I was talking to a client the other day, and you just think about the amount of people who believe that they have a stable job. And there's nothing wrong with that belief system. But you think about a company like Arthur Andersen? Are you think about some of these companies that went down in two thousand and eight and I mean, you think about the fact that a lot of these companies have been around for hundred hundred years, and there was no I mean, those employees knew that they had a job versus allows her. There was no reason why they would it unless it was something that predicated on personal performance. So you think about the fact that there's I mean I've had so many people on the podcast talk about their experiences. Whether it's something that they weren't able to achieve because they just weren't the right qualified person for the job, and they got fired or market conditions such as a or something that happened to you in which I mean GE just decided, hey, we don't need this division anymore. We're just going to be done with it. And we're just gonna wash our hands. I mean, that's out of your control. So you think about how much ability you actually, have as an employee in versus how much you think you have. And then there's there's a large gap. There's I mean, there's a major after you think about the fact that again, you have no control over many of the things that goes on these companies of the sooner you can be more stabilized as soon as you can start creating for yourself again. It's not for everybody. It's not for everybody. I'm not trying to convince everybody to be an entrepreneur. I just want people to look at risk a little bit different. I wanna make any and I agree with you one hundred ten percent because you know, when I I grew up in a family entrepreneurs as well. But when I decided to become an entrepreneur of my parents were like, are you kidding me? What are you doing? And I said I just worked for the largest one one of his companies in the world and on Monday when I walked out of there. I didn't have a job. And I didn't really I mean, it wasn't my passion. It was a job. It was something I wouldn't get forty hours to. But as an entrepreneur. Risks and rewards in an I will bet if you're not print you will work ten times a hundred times harder than you would if you're working for someone because you're not greeting someone else's dream, you fulfiling your own. And I think that's so critical like to throw out these stats, and I never had anybody be able to challenge me to question you on the stats, which I think I'm happy to have you on the show. But I think about the fact that as an employee so much of your money goes to taxes. I mean, it can be the same can be true of an entrepreneur. But there are certain ways around it. But as an employee so much of your money goes access in, you know, you think about the fact that there are so many taxes not even just taxes that come out of your check. But even sales tax on a daily basis, I would say Costa forty or fifty percent of your money year goes to taxes in one way or another. How would agree? And if you're an entrepreneur, you're having your own business. There are legal loopholes in caveats in the tax code net. Incentivize, you to be a business owner, there's incentives to be a business owner. So that you are not hitting me again. The ability to create wealth tax advantage as an entrepreneur for sure for sure I mean, you're spot on I wanna get into some of those some of those here here shortly. But we think about again, the fact that from January until June all of that money is going to ankle Sam like I I mean again when you're in that environment, it seems normal because everybody around you is doing the same thing. So you there's nothing to question when exploring you realize there's a whole nother world out there. I was working seventy hours a week, and I was working from January to June the pay the government. And then what's crazy as you would think that you would have the second half of the air to pay yourself? Right. But that's not how life works. Now. You have to pay the Bank the second half of the year. And that comes in the form of a mortgage that comes in the form of a car note that comes in the form of credit card bills that comes in the former student loan. So you constantly on the cycle in most people. They're never able to get out of that cycle. I mean, there's so much more outside of taxes that we can talk about. But this show wanna talk about taxes about tax planning and some of the taxes that we've been having to pay for so long. So. Talk about the inception of your business. And let's get to nineteen ninety six and talk about talk about was as you may be thought that you weren't going to be able to get outta. But you found a way have this lesson away from that? And so whenever you're starting in business. It's scary. I mean, there's no way around it. I there's not much in this world. That scares me. I mean, and they call it a gun toting tax adviser. You know, just there's not much scares me. But when you're in business, and I jumped into this without a backup. I mean, I I was like it was forced it was like go get a job or or figuring out on your own. So, you know, starting in business those first five to seven years they were very critical years, and they were learning experiences. There were a lot that went wrong during those years of hiring bad people and not getting an alignment with right, employees, ease or hiring to hiring too. Slowly is what I did. So the first the the worst I best advice ever gotten that. They didn't take was that hiring assistant before you can afford one. That was that was someone said to me hire someone hired assistant to help you before you can afford it. And I didn't do it. Because in my mind, I couldn't afford to hire someone and when I really realized about leveraging the fact that okay, you're out there doing one hundred dollar work, and you can hire someone to do the twenty dollar work that was a huge growth for me. When I realized that there were certain things I was doing in my business like bookkeeping, you can hire someone for ten to fifteen dollars an hour to do your bookkeeping. You shouldn't be doing it. And they're going to do a heck of a lot better job than you're going to jail. So that was a huge lesson when I first got started. And then but also making sure that you're in alignment with the people that you hire. So now, everyone who comes to you my system does Koby test a Myers Briggs test. Oftentimes, they come from a head hunter. Because I don't want to be in alignment with people who are not like myself. I have an entrepreneurial mindset in everyone. I put around me has to have the same mindset. Because I need people before we're thinking because if you not forward thinking, you're gonna miss after -tunities, an I I run my my other people who work with me through the same regimen. You have to take the Myers Briggs says you have to psych viscous me. Like, I love that so much because you need alignments as beautiful now rest further progress down your journey a little bit more because I know that a lot of listeners they wanna learn about taxes, tax planning. But I love this portion because we're able to see how you are able to kind of pay your whereas notch preneurs not many people become successful entrepreneurs. Especially since we know the business of how many businesses fail within the first year. How many so within the first five years in the next years? It's crazy. So I love that you have been able to succeed in not only succeed. But I mean, you've been able to kill it the sickest back on the stick about one of the most. Or maybe the best worthwhile. Investments you've ever made. And this doesn't have to be like investment of real estate. This is going to be like an investment in yourself, or maybe I can tell you right away and having a mentor and having business coaches. So I the first business coach ever had was a gentleman company by the name of Dan Sullivan, their strategic coach and he had to make a hundred thousand dollars to get into his program. And I busted my butt to get to that level. And you it was a hundred thousand dollars a profit in. So I busted my butt because I knew that I needed to not remember we all I needed to be in a place where people had pioneered before me, and I didn't have to defeat your it out on my own. And so even today, I have paid business coaches. I have a tax attorney who I pay as my coach and Optima high, and he's become my friend. I Pat him you by seven years, and we don't talk about tax strategy. We talk about building our businesses in also life things. I also, you know, I find people like that you have mastermind groups so masterminding is so critical in proper mastermind. So I went to Bob Proctor a popular Gallard Gert institute. I'm if you've ever watched the secret he's one of the speakers in the secret of I went to Bob Proctor, and I joined his coaching program. I joined his inner circle I joined the matrix. I did everything I could. I mean, I today I have one hundred fifty thousand dollars budget for coaching masterminding because it is so critical to get into the proper space of people who are already successful. So that you can catch their mindset because entrepreneurial and even Abnori minds. Also success mindset aspiration might set is something that you have to teach yourself because if you listen to the world the world is noisy is gonna tell you all kinds of things that are going to try to squash your dream. So you've got to get yourself around those people who are already successful in living their dreams. So that it's like a quantum leap when you get around people like that. And I remember when I met Bob Proctor, he said do exactly as I. Tell you to do until you know, that I'm wrong, and I'm eighty plus years old or I li- I never my mother taught me never to lie. And so when I got around Bob Proctor, I did if he told me do something I did it even if it seems mundane like getting up every morning in writing a gratitude list. Why don't just do it get up right pretend things you're happy for and the two things that are bothering you in send love and positive energy to them. And then the next thing was get up everyday in read something I caught pre Gutenberg now read something that was like in a book, not social media. Not news media read something. Shakespeare, maybe it's like every year. I read proverbs because it has thirty, you know, go through each a proverb every day read something that makes your brain actually slowdown in process on a higher level. And now, my business mentor Perry Marshall said he he calls it his renaissance time. So you know, I started in in the last year year and a half to get up every. The morning at five AM and have what I call renaissance time where I'm doing gratitude in prayer and meditation, and then I'm spend on that reacting. I'm not turning on social media, not checking emails all of that weight. So that I can sit there in vision near what my next steps are as an entrepreneur, and I do that from five until seven thirty every day. So those are things that have helped me be successful in people. I think what you so busy. You know? It's not I gotta go go go, and it's in those quiet moments of reflection is when we can hear that inner voice that tells us these are the things we need to be doing to move forward. So shannon. I did not know you were coming on all this. I didn't. I had no idea. This is beautiful. I mean, man we aligned so much as far as our belief system in our thoughts and our patterns. I mean, this is this is something that I love to stress out to the listeners because super important. I mean, everything starts with thing between your ears. And once you get your mindset, align. I mean, even me like, I kind of have the same morning ritual that you do and I base mine originally off of the miracle morning, then when I started getting coaches consultants mentors, I kinda motive mind the way I saw fit. But I mean I wake up at five thirty in. I do not start working until ten when that whole morning is literally for self improvement. So similar to you about two and a half hours is literally me a meditating visualizing, my future self the success that I've already achieved in having a chief at success, but being in that state of mind, so that when I go out throughout my day. I'm operating from abundance operating from success in that I would react in a way. Like just thinking about a goal is just think about when I was in corporate America if I would have gave given myself a five year goal to escape the rat race, which I did. And I get myself a two year old. I was able to do it in eighteen. Eight months, but if I would go to gave myself a five-year boats was if the rat race my daily actions my daily routines. My daily interactions would have all been predicated on the fact that I knew that I had a five year goal way. I invested in real estate the way I thought about making business deals like everything would have aligned with the five year ago. So that probably would have taken me five years to escape the rat rice. But by changing my thinking to sign. Hi, it's gonna take me two years after at rice. Now of align myself, I've looked at myself two years in the future. And I looked at the person I am and what I'm doing harm operating. And now, I'm that person. And it's been eighteen minutes. So it's one of those things to wear your mind is super powerful that mind work that gratitude journal, you know, you being thankful for everything that has come to you and everything that will come to you, man. It's a beautiful thing. And I think keeping because one of the things with gratitude I call visionary. It's your some I give you this too. I used to be a posture. So the master's divinity at pastor knife you for eight years kind of keeps me out because a little bit different in my thinking, you know. I believe you can fast. Exactly, you could be passed for as I don't think that you should live be poor. I don't think that's the mandate. But when we're talking about thinking about the person, you're becoming because when you start to cash that vision or in cast it and create the person you want to become you will take steps subconsciously to become they say that the subconscious in the conscious mind doesn't can't tell the difference between truth what's true or false. So if you're feeding into your conscious mind in your subconscious mind, a vision of the person that you going to become it will manifest because you will automatically start to take the steps to make it happen. Exactly well said and again, it's one of those things where I think that we can stop the podcast right here. Because this is so much value for the listeners in men I have to go back again. And we're not even halfway done. I mean, you talk about the fact that when when I mean, you you spend a lot more than I do. I've only been in entrepreneur for a few short years now probably already spent close to seventy five thousand in coaching consulting mentorship in you know, like similar to you. I have businessman towards that are on payroll have mentors that don't even know me that I look at from afar. And they mentor me, whatever. Whether it's social media platform, whatever the case may be I have mentors I'm personally friends with middle. Even know their amendments were so it's one of those things to where I was just on a call with my Facebook group, and I was telling them I was like, hey, you literally. And I've always found this to be true. You take the income? If we're talking about financial, you take the income of the five closest people to you added up, and you divide it by five I guarantee, you you will not be too far off from the me, Mike, whether it's five or ten grand you will not be too far from me. And I found that to be true every single time. So you think about effect that? Yes. Met pay him into a ten twenty thirty thousand dollars. But if you look at that as an investment in yourself, you know, and you look at like some people like, well, that's so much. I can't pay that much. I can't do that. Or, you know, whatever the case may be thinking about whether it's already costing you think about the think about the past five years that you haven't been a real estate investor or you haven't done the things that you truly want to do. And let's say a listen investor or is gonna your Goldsmith content by rose investing. And this has been your goal for the past three or four years five years. You haven't gotten started having triggered it out. Well, you're half a million dollars in the hole. That's what it's costing. You not the ten thousand dollars of this to work with this person. And to literally be able to create financial for yourself and your family for eternity because again, you buy an investment asset if it's cash on so fifty dollars you get two hundred fifty dollars every single month for the rest of your life. That exactly I love this. I love this. Listen a little bit 'cause we can say on the subject trick. Every this is this is literally what I love to talk about before we get into into the nuts and bolts into the strategy that people wanna hear let's maybe talk about, you know. What new realizations? Let me ask you this. They can mindset whenever you feel overwhelmed whenever you feel unfocused or maybe you just lost your focus temporarily. What do you do to get yourself back in the line me? And if it's helpful what questions you ask yourself? Well, so you can't see my screen because I have post it notes posted no personnel vision boards at home at vision boards here when I am why call giving wildly when I get wobbly. I go to prayer meditation because that means I'm not spending enough time getting focused on that getting up time. And that's what I want. My post. It note says what's your focus or what is your intention for today? What is your intention? And then this is the question when I do my journaling every morning, I say, what is the number one question or problem? I'm trying to answer right now. Could be personal could be business. I have a lot of people I actually coached people and have people that I met tour around me and oftentimes I'm working on their issues too. I mean might in my time thinking about that. But when I get wobbly, it's because I'm not taking the time for that that centering of reflection because at getting into the business of life, and there's a gentleman named Richard cash who if you ever read his story, he works like two hours a day. And he like he'll jump on his Viking he'll go rhino his bike for like four hours in the wilderness. And then I'll come home, and he'll the work two hours, and he's a multimillionaire, and he counts he's like, it's because in those quiet times that my brain is actually stilled and the noise of the world is quiet. So that I can hear whatever it is is if it's your intuition or your inner self or or what have you I can hear that and move forward. Us so much. What was what was that? Entrepreneurs name Richard cash K O C H. So he's a marketing genius. He wrote the eighty twenty eighty twenty bucks like eighty twenty marketing that he's phenomenal. And it's something definitely to take. A look at eighty twenty manager is another good book to love it love, it will Shannon. It's now time to kind of jump into some strategy. Let's give our listeners some nuggets to kind of take away from this conversation than when we talk about tax planning when we talk about a county when we talk about all the things that people kinda shy away from when it comes to rosaire. Maybe don't even have any idea about before we get into tax planning what you should do. Let's maybe talk about the benefits of real estate from a tax perspective, just buying a single family home in your you're you're you're working professional. You're making a hundred grand a year. Whatever the case may be and you buy your first single family home. What are some of the tax benefits of doing? Or maybe even compare it to paper assets, you know, someone investing 4._0._1._K. So if. You want something to compare it to compare it to 4._0._1. campus. Well, I mean, definitely so any your 4._0._1._K invested. Okay. Couple of things with your 4._0._1._K. You are going to be putting money in usually pretext. And then when somebody's coming off your income. So if you have one hundred dollars input ten dollars in taxes on ninety dollars. But then when you get to over fifty nine and a half, and you pull that money out, you're paying taxes on it. So it's a deferred gratification in K, and he can't touch it without penalty before eight fifty nine and a half unless there's certain certain circumstances like that like disability and things of that nature when you go into real estate investing from a tax standpoint, if you are a real estate professional you are able to actually take that there's a difference in real estate investing. There's cash flow. So someone's paying you that monthly rat. And it's in your taking that monthly rat near paying all the expenses of that property, but at the end of the day, you have a little. A bit of money leftover but on a tax return, you actually get to depreciate your building or your or your that residents in. So I'm paper on the tax return. It looks like a loss like you've actually lost money from tax standpoint. And if you are real estate professional you get to take that loss in offset your other W, two income or your investment income. So your overall paying less in taxes by doing that? And you still have cash because remember this is a paper loss. It's not doesn't mean you have money in your hand. It means from a government standpoint the way that they're going to look at this investment. It looks like you have a loss on paper. I love this so much because it's it's one of those subjects which I know for a lot of people in may be hard to like no wrap their head around this. So we try to we try to make it a simplest possible. Just think and I'm kind of going to probably repeat your words. But I want the listen to really understand this when it comes to take a loss. Let's just say you are making a hundred grand a year in my numbers not gonna wind up. But it's just for example. So you are. One hundred grand a year from your W two job. You buy real estate investment for one hundred and fifty thousand in your cash flow twenty fifty dollars a month. Whatever the case may be you can depreciate bet home to the point to where in the government's is even though you've made two hundred fifty dollars a month. And you've made a couple of grand that year. Like you've actually collect the bat like as far as like, that's how much you've actually made on paper it can appear and a lot of times it does especially when you find the sweet spot. It does appear that you have taken a loss for that year. So you have negative income, but you actually don't it's just on paper. Just how accounting works when I got to get into that. But what happens is that negative income is now able to offset let's say it's five grand that year that offsets your W two income. So your taxable income without a real investment is a hundred grand. But now because you have a row cent investment that actually makes you money, but it looks like a dozen that lost you took that five thousand dollar loss is now added to your taxable. Income on the W two sides. So now instead of you being taxed at a hundred grand a year, you're being at ninety five grand a year in my explaining that. Well, yes, so we'll taxable income on the W two side. Now decreases and a decreases while at the same time narrows in investor in you're making money. So you're it's almost like you're winning on both sides. And it's one thing that if you guys can again, you don't have to know the intricacies of how much appreciate things like that. That's where your tax professional. But it's one of those things who are believe it's twenty seven and a half years for single family in thirty nine years for commercials. So it's one of those things to where you want to best start taking advantage of that's one of many ways that you can benefit from. And do you have a couple more first before we kinda move onto the next section? I think that you know, if you're going to be investing in real estate near borrowing to actually buy your real estate, you're actually using the bank's money in a cost effective way. So your money's really cheap right now to borrow even though interest rates are going up. It's still. Like cheap to borrow in use someone else's money to build your portfolio to build equity. That's another great point. You think about the fact that I mean who was I think Albert Einstein sent the greatest the greatest gift, you know, as far as investing goals was like compound interest something like that. Great wonder of the world year, the acre wonder where I like to challenge him on that. And I like the the the the ape is the wonder of the world is actually leverage slow. Yes. When you have when you're able to take compound interest off of a leverage NASA. I mean, that's when things really get crazy because again guys paper assets, you wanna buy Facebook stock you have to pay. I mean, there are ways that you don't have to put nine times out of send you have to pay one hundred percent of how much stock is valued at to be able to buy that sock with real estate, you can pay as little as three point five percents. You can pay five percent you pay ten percent and the Bank fronts the rest of that money, and they take a position. So what that means is that any upside that you get from appreciation from force appreciation from anything any upset that you get is all yours. Our should've known this. Things that he should have definitely known, but no compound interest and leverage are one thing that I think that when it comes to rose invest in. That's why it's one of my favorite asset classes. I'm you think about some of the other benefits, you think about the fact that to live you think about the fact that while a stay over the long term will always appreciate you think about the fact that you have control over this. There's no way that you can control marks. He's just not going to allow you you you can literally go in be cash flowing in a property six hundred dollars in do some renovations or higher shape or property manager. Whatever the case may be you can literally you have the ability to affect your investment. However, you see fit. I mean, it is beautiful. So let's maybe talk about some other benefits of real estate. And I want to jump into ten thirty one exchanges really quick. Because I think that we've covered that a little bit on the show. But a lot of listeners may not quite fully understand what a ten thirty one exchanges. So maybe from thousands of you, what is ten thirty one exchange in how can you take advantage of this? But I never actually call the ten thirty one exchange because. Mike people's eyes gloss over I would say it's a like kind exchange. I love you can take this property and sell it and upgraded to a new property, and it's called a like kind exchange in there's no tax consequence by doing that. Now, there's rules and regulations around, you know, moving that money from selling one property in upgrading into a new property. But the key point there is that they're like investments you're going from real estate to real estate in by doing that you're able to maybe take a property. That's not performing well and sell it and then buy property. That's, you know, an upgrade or performing in in a better capacity. And you're not even if you you have a built in game. So let's say you you bought a property for fifty thousand dollars announce where the hundred you would pay taxes on the spread of what you invested in. What it's worth today if you attend thirty one like kind exchange. And you take the proceeds from that first property you're gonna sell you invested into here. New property. There's no tax consequence for doing that for sure I wanna gonna wanna break that down for the listeners who just like what what is she? So so so basically what you're telling me, Shannon, is that I buy a property that were s worth fifty thousand dollars. And when I buy this property that's just say a year or two down the line at appreciates. And it's now worth one hundred thousand dollars an hour on sell when I sell that property, you know, because I'm bout to make a fifty thousand dollar game. I have to talk donelson, and he has to tell me that I'll have some money because he gets a portion of that game percent Yankee twenty percents of my my income. My earnings if I sell that property, so a lot of time investors, perhaps they may not want to sell because that's a big loss. They may. I mean, that's definitely something detrimental to the financial picture of what you may have thought you were going to get. But there's a loophole, and I wouldn't call it a loophole. But there is a I don't know. We'll just call it a loophole for now. It's not a loophole. Because there's I mean, it's in the it's in the law. There's a way that you can buy property, and you can sell that property and get the whole fifty thousand dollar game. If you decide to use that game on a like or similar property is that correct at is, correct. And some of you guys may be like, well what happens so the taxes will yesterday eventually still have to pay those taxes, but were shortly gonna talk about a way that you may not have to pay those taxes, but for now, let's just keep it, really simple. You buy a fifty thousand dollar property you sell it for one hundred thousand dollars, and that fifty thousand dollar gain is all yours if you decide to go and buy the property. So is this your first property was a triplex? Now, you're looking at by six unit building, and you put all one hundred grand in that sixteen building. You don't pay any taxes on at the point of purchase. So I mean, you eventually still all that money, and you'll probably gonna all some more money on the new property as time goes on that appreciates as well. But if you. There many of us who keep Brinson repeating this process. I mean, you can start from a single family home. Get a duplex. Get a four plex and eight six, and you can actually get up to one hundred unit building and not having paid any axes. And I mean, this can eventually mounts up to a million taxes square. You haven't paid a single penny. And you owe this money now is there a way which I know there is is there a way to where you never have to pay those millions of dollars in taxes. Like what happens when you die? So when you you pass away your heirs actually received those assets those properties at what we call a step up in basis. So basically what that means is that on the date of your death. If that properties worth a million dollars your heirs inherit that property, and it to them as worth a million dollars. So they sold it the next month or next few months after your your dad, they would pay zero in taxation because there is a what we call a step up. It means that the the IRS is going to take just kind of. Wipe away all of the basis are what your original investment was. And assume that your heirs now have inherited it at its highest point on the date of your death. Now, your heirs don't happen as Lee sell it right away. They could continue to build their own portfolios. But what that does it? It gives them a tax advantage floor of what that value of that property is if they ever want to go ahead and sell it in the future. Beautiful. I love the end again guys. This is something that you don't have to learn the intricacies as I talk about building containment having important vital members of your team talk about having account and having a bookkeeper having attorneys having your real estate agent so on and so forth. These are the people that they're going to know their area of expertise you as the head coach you want to definitely understand everything everybody's win. But there's no reason why you should learn the ins and outs of lending. There is no reason as to why you should learn that you should get with a trusted adviser going back to mentorship. Going back to networking going back to building the right team. There are certain people like, Shannon. Who are experts at what they do. And they will gladly gladly take us off your hands. Now, let's get into some more benefits rose investing. Now, we've talked about some of the benefits from tax perspective. But we forget that being a rose investor. Also means that we're business owners. So are there benefits that you have as a business owner that you would have as an employee as far as expenses in what you're able to do with those connects talk about that a little bit. I'll definitely misses where proper bookkeeping becomes very important in very critical. So there's something new that's out now. And I don't know if you're wear more of your listeners may be aware, but underneath a new tax law. There's something called qualified business income deduction. So what that basically means is that there's this new twenty percent pass through deduction that can reduce your taxes even further because you're a business owner, and what's so cool about this as as a business owner, there are things that you have in your personal life that you utilize on everyday plan of existence as visit. Onto your cell phone your internet your home office. Your your mileage your car education, having those mentors these are all business related expenses that can offset that income even further and one of the things I always, you know, that's where bookkeeping becomes so critical is making sure that you keeping proper records. You know, you're not just throwing everything into a shoebox that you're actually organizing those things because there are deductions out there as a business owner that you can actually take on your taxes that you probably missing because you're not keeping proper records. They're not lightbulb woman's going on on this interview. Guys. You guys are not listening. You guys not paying attention. So you're telling me that our cell phone expense can be tax deductible our commute or mileage even I mean, let's talk about a car really quick. Is there any way for me to to to get a new car whether on buying releasing his works for me to get a new car has some type of tax benefit from that purchase or from that lease constantly. I mean from a standpoint of being a real estate professional your Honey automobile. You're going around to your different properties in your utilizing that business you're gonna be able to depreciate that vehicle on your tax return gives some numbers. Give us an example. So let's just talk about it could be a car. It could be even a portion of your house. Like, what does that mean to be able to appreciate that in? How can our rose investors benefiting from that creation? So one of the things that one of the things I teach by clients. Really right off the bat is something I give them a spreadsheet, and I call them accountable plan, and that is a fancy term that accounts use it there where you actually record your personal personal home mortgage. Your utilities your insurance, your could be like water sewer trash, your cell phone, your home, phone your internet, and you put it into a spreadsheet where we can calculate how much of that is actually your personal use in your business us, and it actually in in many clients tax return, it can lead to a two to four thousand dollar savings taxation by just. Keeping track of what you're paying in your personal life as far as even just your home office expenses like the ink that you buy in the paper that you buying your cell phone. Maybe bought a new I add and you're out or you've got the square in you're taking rent payments. You know on your ipad or on your on your smartphone? Those are things that if you're using the daily course of your business are used on a percentage basis for the business, you can actually dot when you talk about something like an ipad. Because again, I think that the listeners are really intrigued here when you talk about something like ipad how much that how much of that is the duck. The does depend on how much you use. Or does. It does depend on the mount that it costs how much of that is deductible. So we're gonna talk we're gonna look at your accountants should look at what percentage is used for business. So like, I'll give you an example. We have an ipad here that we take credit card payments on it's a hundred percent for business use. It doesn't leave the office issues one hundred percent within my business. So we're going to write one hundred percent of that off. Now, I all. Also walk around with an ipad because I put everything in Evernote sin all of that good stuff in. It's eighty percent. I don't do. I pick it up and use it for something else. Yes. So I can make a reasonable determination that eighty percent of my usage for that. I that I carry with me is for business. And so I'm going to write off eighty percent of it. So goes it goes on it's based on your your percentage of business usage. So I have one last thing before move on the last final segment. I mean, I wanna talk about office space in your home in how to how to have that deductible, but what's more important for some of the listeners out there as maybe their kids, maybe they give their kids allowances or maybe they pay their kids. Is there a way to incorporate your kids in your real estate business wearing your business in general? So that you can take advantage of some of these these tax incentives. That's one of the biggest things that individual business owners actually do. Now, there are capped that because if you are paying someone asking employees, you have the file proper payroll forms and give a W two and things of that nature. So. There's there's some things that have been consideration. But you can hire your children to work with you and under the new tax law. You can pay them up to twelve thousand dollars per year, and they're not going to pay taxes on that twelve thousand dollars because of the new standard deduction limits. So when we're talking about tax planning, that's one of the key things that what we're talking about. We're talking about shifting income. How do I shift income for myself to someone else or to a different place on my tax, which are to mitigate taxes and one way to do that is to hire your children as employees east in order to accomplish that in some of the listeners may just be like, well, my kids are to join there's no way to implement this in. I mean, there's definitely a fine line between how much you can pay your kids in what's reasonable. You can't kids dollars a year. I think that oh, I'm not paying taxes on this is pretty cool. It has to be reasonable. So even for young kids. I think a great example for implementing young kids in your business is you might have a newborn baby that baby can be a model for your website. And that is a job that is. You can pay your newborns to actually be a part of the business and that I mean, that's tax break right here. So why don't you guys get creative? When when we think about some of this stuff, but actually what I really want. You guys to do is find a professional work with professional and type of recommend are professionals in their field. But they're also realistic investors because they're going to know exactly what you need. If you went to a random, accounting if you went to a random, but keep if you went to a random tax plan or they may be superb at what they do. But the fact that they are not real estate investors. They they may not know your exact situation, they might not be able to relate. They may not have insight that that Shannon has never you're looking for professional in any field. Whether it's lender on my lenders every single on my lenders. Israel's anguish I will not work up lender doesn't own rules estate. I mean, that's just a personal role of mine. If you guys want to adopt that role. I definitely think you should because you will vote Welford for that China via agree. I agree. Exactly. Lifestyle design, acceleration eggs. What is your favorite before the millions book thinking grow rich by the Polian hill, the wise at your favorite before the millions work? So I think that there's a finance to getting rich. That's another great book by Wallace waddles. But there is a science to getting ready to Napoleon hill figured it out. And he actually uncovers everything you need to do in that book thinking, grow rich. And if you take that book, and you study it I read it every single year fresh at you studied that book you're gonna Khalid so much wisdom in. It's just going to like a path opens up as you read this. And you're gonna have such insight such you're not kind to take all of the the Wisma partying, and everyone that Napoleon hill interviewed and you're gonna be out by today. It's timeless. I definitely agree. I am one hundred percent of grants with you. I think that I read it every single years where I have. A few to read every year in. It's it's one of those things where it's not a repetitive process. I mean guys every single year during the different place in life. You have new beliefs. You have new thought you working with different people and every single time it's gonna bring you a different insight. You're going to catch something that you didn't cash last time you're going to read something that's going to mean something different to than the last time. So guys, I definitely recommend that book. And I recommend you guys read it costly category agree enough, what is your favorite lifestyle design at this can be a business app or tool I use trello. I loved trello. I put everything I'd travel by people make fun of me because everything goes on travel. I have a the books. I wanna read out of trouble board my bucket list as a travel board, my affirmations are travel board. So actually, that's one of the first things. I look at every morning is my on. My Calabar Bank attitude is on my trial board. What do you enjoy most about the way your lifestyle is currently designed you I wake up every day. And I live my dream. I think that if you're looking at. Your life. And you're just you know, it's not about things money's easy. But life is a lot more than just money. It's about the moment and just being in the moment and having the ability to make the decision if I have the time to be in the moment what were the sacrifices that you knew you had to make before the millions to get to waiver today. And I say you laughing so must be a good one. Oh my gosh. Like, no cable that was that's huge. We still don't have cable in our house because I think that we can spend so many hours just watching mindless things that we could actually be doing things like reading thinking girl rich, but in those lean years, like even now I don't really eat out. I don't have cable. Now, there are different things. I don't skimp on like I get a massage every week. And I go to float therapy. And I I do think like that more personal air things. But in my kids, they we didn't because they didn't have cable, I'm a single mom. So a helped because then they didn't want all the latest and greatest things because they didn't know existed. And they weren't uniform SIS cool. So they didn't know that. They weren't wearing the best shoes you now. And I think it's not about keeping up with the Joneses. This is about at the end of the day when you close your front door, you created the like as best for union family -iety tells you I really like. Beautiful who was essential to your growth before the millions. And why you know, it can just be a person doesn't have to be anybody's famous me. Yeah. My dad. My dad was my greatest champion evil lead. In me, when I didn't believe in myself in you need to surround yourself with people who believe in you because there will be those days when you're like, what am I doing in? Why am I doing this? You know, like one day, I had I had I think failure of something. It wasn't ethic in my mind. It was epic in my son has asked burgers said to me have you ever contemplated on that the definition of insanity is waking up in doing the same thing over and over again in expecting it for results. And I said Honey, that's the definition of entrepreneurial. Shop was just gonna say that like that's not a that's so that's commonly misconstrued as the definition of insanity. Not the definition like an eight year old, you know. You know, I spent you meant he knew the definition. I said the reason I will get up everyday, and I will work a hundred twenty hours a week, or my dream before I go and work for someone else's, and even if I wake up, and it looks like it's something, you know, technology fails, or this fails are wasn't a good business move. You'll K I warm something. So my my thing that I've lived my life by is. It is what it is the something happens. It is what it is. There's nothing we can do about it. Look for the good for the good in any moment that happens in forgive the rest. It's a lesson just move on. And I think that his entrepreneurs you gotta you gotta give a pivot really quick all heading, Shannon. Why didn't you tell me that you would be this? Good of. You got. Me back. I would love to van. The last one I leased why do you think so many of us are stuck before the millions? Even though we have every intention of getting to the millions. I think that most people don't know how to think critically to be honest with you. I think actually ninety seven percent of people that you need don't know how to think, and I think that what are the things I had metric say to me one time. I said something like off the cuff, and he said, why do you believe that? And I looked at him. And he said did someone t- to that. Did you hear in church? Did you hear in school? Did you hear it on the radio that year belief or did you pick it up? And I was like excuse me, it, oh, I have this attitude guided, and he said, I don't think that's really your believe. I think it's something you you've just picked up, and it's become your belief system. And it doesn't serve you any longer. So you need to put it down. And I think that is so critical when things when you're not manifesting, you're not getting to the level that you need to get at you need to take a look at what you're telling yourself, and what you're believing because often believing ally that's powerful. I love that. That is a great parting gift from listeners. And again, I've gotten so many negatives from our conversation under the listeners have gotten a lot of value. If anybody wants to connect with you learn a little bit more about your services on what you do in how to get in contact with you, maybe have a question for you. How do they do all of that? Definitely. They can go to my website, which is at Vance, accounting dot com and at the right hand corner, they can actually click a link to get a free tax review, and we'll do a zoom. Call for half hour motives talked about their particular situation. So it bans to county dot com. Again, guys. It's Vance county dot com that will be in the show notes. Thank you so much Shannon for all the inspiration advice in for two. So you've been fired for us. I think you've gotten this in the Mark right mind. So you got me in the right mindset. The rest of my there's going to be beautiful because I'm just like, I do any conquer anything. I just need to believe it. So thanks so much for all that you do. And we'll talk to you very soon. Thank you. Thanks for tuning into today show. If you like what you've heard, and you're interested in seeing if you're a good fit work with the before the millions team. Here's what I want you to do next head over to before the millions dot com for slash call. That's before the millions dot com slash call and book an appointment to speak with our team. We'll get on the phone with you for about forty five minutes, and we'll get you. Crystal clear on three things number one. What is your cash flow goal? How much are you looking to make every month? Number two, your personalized investing strategy and number three the best way to get started using cash flowing rental. Real estate. Remember starting in scaling your real estate investments and business doesn't happen by itself. You need expert guidance to make it happen. We've helped clients all over the world start in scale. They're investing efforts to six figures and beyond while enjoying life and making the world a better place to find out if we can help you do the same head over to before the millions dot com for slash call under Elliott, and let's talk soon.

MRs Shannon GE Bob Proctor Facebook Maine Gina lofton MC Laubscher Derek Heather haven Mark Mr. Hollywood MRs Stewart Arthur Andersen football Mike people
BTM 76: Should You Consider Coaching? Client Case Study

Before the Millions

58:22 min | 2 years ago

BTM 76: Should You Consider Coaching? Client Case Study

"This is Leah and you're listening to the before the man's podcast episode seventy six. Yeah, they. Yeah. Are you ready to be the master architect of your life? Are you ready to design your business and invest in needs that compete, the lifestyle? You've always dreamt up to, are you ready to learn from entrepreneurs and millionaires who have 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 am 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 millions podcasts, hey, this is Mark squish the host of the seven minute men to podcast global entrepreneur, all round geek, and you listen to the before the millions podcasts. I am MC Laubscher the cash loon injure, and you're listening to before the millions bought cost. You're listening to the before the millions on cast a, whether you're looking to invest, we're cash flow all built an online business that allows you to be location independent. You come to the right. Please, Mr. Hollywood himself presents the be four. The millions podcast. Now your host d'auray. Hey, what's the was going on? Tribe. We're back for a nother another installment of the before the millions podcast, and I'm excited about this and I really am. You know, my my clients, they're so much a part of my everyday growth. A recently had a client, my first client by the way, but has purchased a new construction, new construction triplex. I'm never dealt with new construction before, and this is his first deal ever and man, the roller coaster ride was unbelievable. So this ground up development is underway. And once this triplex is built, he and his family are going to occupy one unit and their roots rent out the other two units to tenants. In essence, living for free. And again, guises the strategy. I love to teach as much as you may want to hear about that. I'm sorry to say that is not what we are here for today, but I come bearing gifts. I have another client close on a deal in a market that has been said to not be conducive for real estate investing. Hm. I wonder why this client his name is took a Markle and he lives in probably one of the most expensive markets in the world if not the most expensive market. So you may have guessed it. He lives in the San Francisco Bay area. Now, let me tell you a little bit about tech because earlier this year and I may have even read off his Email on an episode, I believe because it was one of the of the one of the more impactful emails that I read earlier this year that I think that I wanted to share with you guys. But earlier this year I will lease an episode and the episode captivated, a lot of individuals are talking about Willis investing on a very high low, and I was talking about the reasons why which is starting destiny earlier state, especially hearing twenty eighteen Matt abso- number thirty one by by the way for those of you who haven't heard it my client. He heard this episode back then he wasn't a client that this time he was just a faithful. Of the podcast, and he heard this episode. It ranked true to him on every level, but yet and still him become a real estate investor. I mean, he tried, you know, after hearing that up. So he reached out to me and he sent me this Email. He told me that that episode allowed him or the episode in abled him to start down a journey that he's never gonna forget. So he restarted again and again told me situation. He told me that he works in sports medicine and the, he writes trying to work in the, he listens to the so in that he's getting ready to start. His investing journey has this property in ascites. He's doing everything he can to get that property under contract close on that property to add that property to his portfolio of zero at the time. So Neil is this, I encourage him and I tell him if he ever needed my hope he ever had any questions. Let me know. Maybe a few weeks later he reaches out. He's like, hey, things not working out. I'm having a lot of trouble. Not a difficulty. So I said, well, tech, you know, I'm offering this breakthrough session. We can really get some clarity on what's going on. If I can actually take what it is struggling with in tournaments will win tune into a success for you. So we actually did that what's crazy about the breakthrough session that we had in again, these breakthrough sessions are available to you right now go, what's crazy about these. This breakthrough session that we have is we realized that the real estate wasn't the problem in fact, was far from it. The market wasn't the problem. Contrary to popular belief, contrary to his belief. The problem started with him and his mindset and the people around him whose opinions he chose to take his fact as he wanted to start down this journey as he wanted to invest in himself as he wanted to look for coach for a mentor for things of that nature. His girlfriend at the time and hope he's okay with me sharing vis. She wasn't on the same page in she kinda confirmed his doubts when he started looking for help guidance. Mentoring coaching, he reach out to listen. He was just like man trays really expensive, and we got a hold her. She was like, he's way too expensive. So to continue to do what he did often updating me on his progress on, know what happened when day. But he sent me an Email. He was like dry. Is there any way we can get on call? I'm like, sure. Yeah, no problem. So, I mean, we connect me on this call and it's almost like tech is come to the rose Asian that his mindset has been holding back and the opinions of those around him and their beliefs. They portrayed it on him and he was like, no war, no more. How do I break free of this? How do I starting vesting and myself in my future? I want your help my want it now. And at the time hiring me wasn't investment for him. It was a big investment. So he made a promise to himself and he made a promise to me. He said. I know it gimme a month. Give me a month and I'll be back now. Most people that say that you don't ever hear from that. Some of those people have good intentions, but it doesn't always work out. So tech came back. I think it was like April or may came back. He enrolled, he became a client and we got to work. We got to work immediately and we've had lots of ups, lots of downs over the past few months, but tech the not give up. He did not quit. He did not falter. I think at least two or three deals were in his grasp and got away from him in August, just a few months after working together. Thanks started looking up a property. He had been scouting. He'd been doing his diligence on finally submitted to him. He got it under contract, his first investment property, and what's crazy is that's just the beginning. I mean, early last week we were on the phone in. He was telling me about how he had just. Got the keys, and it doesn't matter if you're purchasing family home in your house hacking that. If you're buying a triplex in your house acking bat, if you're doing a wholesale, if you're conducting a flip, if you're buying a rental, that feeling that you get at the finish line when you get when you when you get the keys for the very first time the second to none. So we're talking about his experience in his ups and downs on what he was going through. And again, this was a super candid conversation between myself in tech, and as he started pouring into the conversation in telling me his thoughts and his ideas in his feelings and his accomplishments over the past few minutes, I was just like, this is this is gold is so good. So I was like, do you mind like, would you mind if I just kind of hit the record button and you can just finish this thought and maybe we can talk a little bit more about your experience and I can ask you a few questions and he's like, sure. So ties episode what you're going to hear his, the continuing. Nation of that conversation. You're gonna hear him pick up on a thought about working with BTM, but more importantly, his experience before working with BCM in the results that he wasn't able to obtain and then wit wit what he's what he's currently doing now till you can kind of here in the very beginning of of the interview that I'm still kind of just I mean, even have now hit record. I'm still kind of talking like we're, we're still kind of just going back and forth and exchange ideas not until a little bit later on tour. I'm just like, oh yeah, I mean, I know that the the audience, whoever decides to recording for is going to want to know answers to certain questions. So let me pop these questions out at you, and let's see if we can get the get these answered as well. So it's great interview guys. You're gonna love it. It's basically a testimonial if what we've been doing around here of the impact that we've been able to have. And again, what's cool about Tex journey as this is just the beginning right before I hit the record when we were talking about next step toward talking about how we're gonna IMP, incorporate some new. Tools under his tool belt, how tech can and will be able to start making five and ten grand off of deals that he doesn't wanna keep how he's going to be able to build a system of consistently in the system that you're gonna. Use. Consistent lease can be anything, whether it's direct mailers, code, Colleen, Facebook ads, bandit signs, the MLS realtors, you name it. I personally like meet ups and mediums like podcast was important is that you have a system that you getting consistently, and that's what we're about to build protect now, and also how he's gonna start using create a finance. He took choir deals with none of his own money. So again, he's made it past the first. He's got his first deal. Wanna start getting consistently getting offers. We're going to help him build this pipeline so that he's going to be able to capture the deals at. He wants an at those until his portfolio and the and the deals that he doesn't want. He can give to another investor. I make a five or ten or even twenty case bread and then for the deals. Dugongs portfolio. We're gonna creatively finance those deals. So Tekle uses little of his own money as possible while increasing his profit margins, hoping upside down seller lending a helping hand to a not. So average tenant amongst a plethora of other things when you guys see that there are people just like you and me. I mean, you could have been one of those people. Listen to this to this podcast, early two thousand eighteen and you could have been one of those people that I mean actually told yourself, I k, I'm going to do this or ham to work with the Ray or I'm to buy my first investment property and you're listening to this now eight nine ten months later, eleven months later, sixteen runs later, and you may have valid reasons as to why it didn't happen. But regardless of what those reasons are did not happen, right. Hasn't happened in, are you going to continue to be defined by those reasons? Because if you are, I can't help you. But if you're willing to step out of your comfort zone to. Seek the guidance that you need to follow. A proven system has worked for not only myself, but all of my clients before you reach out to me, let's get on a call is for God. If we're good food, and if we're not trust me, I'll be the first person to tell you work with very limited, very limited a group of individuals because these individuals get so much of my time again, if we're not a good fit, I'm going to steer you to that that best serves you. So what do you have to lose? So to book a call with myself or a member of my team, all you have to do is head over to before the millions dot com for slash call. That's before the millions dot com for slash c. a. l. l. let's get to the tip of the week to raise of the week. Wrong. What little friendly competition that don't think. And I say that because I have been looking into renting out a unit and I am currently in the Dallas Fort Worth area and minute stri. Some of these new mediums that I haven't used before, like apartments dot com. The Zillow rental manager, things like that. Right? So anyways, from side to do a few tours in dole myself think it's great experience. Think it's great exposure. Think it makes for good video and so on and so forth. So. So it was like, hey, what the heck do a few tours tours have been going okay. When every three people make a serious inquiry to whatever right? But today for some reason and often scheduled like my meetings or my tours, like fifteen minutes apart like five and then five fifteen and five thirty. And also there's not ever really any overlap between potential candidates right today, though, talk, I got sloppy with it, but I'll just like, you know, that's just try to squeeze everybody into the same timeframe. There's a lot that have to do that require me to sit in front of a computer today, so I need to be efficient. So it's kinda bust these up. The difference today when I did the towers is that the hunger empty motivation of the tenants or if the potential tenants for the unit. Unit that I was torn was through the roof. I mean, you could just deal it as I was giving tors and you know these, these people are looking at the other families, like, who are they? Are they going to put in an application, what's going on? I need to hurry up and and figure out what I wanna do. And you had think fast kind of just put the pressure on everybody. So now we're from this little trickle effect yesterday. Again, it's only today's yesterday. I went from this little trip trickle effect and got one applicant because I spread out the applicants over like, you know, fifteen minute segments. And I think like three tours. And then today the three tours put together. I got three applicants. And the one applicant yesterday wasn't qualified. The three apple can stay like I literally just did this. So I haven't looked at their applications yet, but I'm pretty sure that I have found a new tenant for one of my units. Where's the story derisive to tie this all in a little friendly competition when you're doing stuff like this? You know, people want to know that. What it is that they want others wall. So yeah, tip the week. Right. Okay. I promise was going to be short this week so we can get to the meat and potatoes. So let's get to the show. Now your feature presentation quickly talk about who you are, where you are and what you do on the San Francisco Bay area may not here, but I think kids back together, figuring out so broken bones, ligaments, tendons, joints, muscles, all. So that's what I do for my nine. Five, I love it. Is fun to be with poachers in in that leads in being like no young kids in adults. Well, so that's why I do orthopedics also do other things on sale. So DJ was fun. Also don't don't ever know seventeen years pretty much also do some financial education also have the other businesses in the pipeline, things that are going. So I'm pretty active guy. Pay move around a lot. Tell us about your diet. That's one of the first names. You tell me about a few months ago. Tell us about your diet or data when one meal a day or two. What does that consist of. Really doing that too much anymore, but I still do to some degree. Yeah, I've of conditional buys to do that. Yeah, that they are crossing silly principal boat. Now. Today, but you don't want. It's been my biological understanding of the human body. I, I know, but thinking biting endorse so again. Scientists. So that's how I love it. Works eating now. Horse. Of course, of course. Of course. I love it. I just I just wanted everybody out there to get, get to know a little bit more of your personality, so that's really cool, man, kind of thinking back and reflect on this entire experience. When we first saw which was Renault's some time ago. Or when we first got on fall of being on the train, that one day you're trying to time it just perfectly. So when when a gossip train of this team kinda bought some office in a kind of listening to you in wasn't like a pitch that you were giving, but you were just explaining why this is important in in. I could hear it in your voice. You know, I'm the kind of person where you know working medicine already. So I have to talk to you make but have to draw information after we through was implemented. What isn't some Lizzie token? I can hear how Orden it was to us. You know this sort of mission that you have and I'm reflecting on that entire spirit from that day, all of the day, I got the keys dean about everything in Leonard downloaded, late nights. Listen to your voice. This guy again. In reading things in southern out-pizzas in calling people thinking to myself. I wonder if if I could have gotten his done without his guy because keep in mind, I, I had their Super Bowl that are on my team at are pretty damn experience. These guys have been around for, you know, twenty five years in other wound around for thirty years spike. So in style. So that's a ton of experience in this market at that. And I'm thinking to myself if could are have gone gun to the entire process is still compass. The same thing had I never met this guy in by this guy me. Can I have learned everything from these guys? Could I have you know, gotten the by mindset, right motivation. Could I have done all these things without this? You know programs and part of me says, you probably could have done it. But then I thought about a little deeper in this is why I think the importance of meditation burden of like, know your own is is, is that you start, you know, each of you sign us a lot of the other things that may distract you come up with a different reasons knows like Noah. I didn't need that program because although I might have gotten information some ever mation but knowing when to act in knowing how to act on having the decisiveness and the readiness to to make a move. I did not have that a lack that in honor stood that I didn't have in house willing. I didn't have an ego, you know, w g me for admitting that in. Absolutely needed that program absolutely needed data specify individualized assistance. And I needed to see things. I'm such a logo person that needed to see how but you were saying is actually made sense was actually, but working and I saw it on paper Asada on another people's experiences in combined that with what I had personally, and that was the difference. I think that's where so that's what I'm listening to you explain this moving forward in in how to grow in having representatives in also in his options in this, is it then we, this is over again. This is this is where I was. That will some months ago in by got to this point. So, and I know that by just follow these simple says, if I'm listening to the program of meat rabbit bonus process, you will get this expected, you know, a predictable outcome like this is how it works. So. So you know, pretty grateful for the overall experience. I remember being on the train listening to the one episode. Again, I told you this. I'm not remember this by, say, book prompted me even knows subscribing you call was, you know, full reason why they went its own somebody why you should have your property or respiratory tweets in. We'll set the goal. Let's do this. That's a big goal isn't pretty damn go in to be honest. I didn't believe it at the time too, but I said the going away and then you just laid it out small mouth zone here. Second milestone in UCLA gonna build on each other's snowballs in comes initially, ends up in, come dating getting this property. So so you know, the goal was at the beginning of the year was to, you know, have in, I can this work in this particular market because this market is less. It's unbelievable. You like thank. Doing you can do you trust what you can do ultimate, well, what am I get this other place in the end run someone else comes up, your vital, listen, it. You can do you trust what you can do. All right. But I think I was thinking about on the whole experience in saying, if I could have bypassed, still compensating maybe maybe move knows. But I think in marketing figuring I think it was absolutely. It was well spent money. It was welcoming time, and to be honest, I think the biggest part that helped me was answering questions. I always had an answer for questions that people would throw him in. There was never moment maybe on here and there, but outgrowth stuck in like puzzled ins. Let me find out you giving that BS corporate answer leader. Let me get back to you on that. You don't know. I know convenient medicine patients asking questions you better know damn answer, man. So having that same as telling you that alert information, stuff that people did know information that or at least people down embarking with they just didn't know so many people throw questions. I would have responses in articulate those or at least nowhere to go. I those for bed that information from. So I think those are sort of like the the, the real benefits to me, it was maybe it's not a advertise on people. They don't see that on the surface. They may be they, that's what they learn on backing. You're so right, man. All right. That's powerful. And appreciate you sharing that. That really touches me. And I'm glad that to know that that's kind of where we've come from. I mean, just think about that conversation thing about that day. Like I remember that I actually remember that day that day was me because I remember talking to you in encouraging you motivating you and you know, I'm just like we're not even a year end. We're not a year end. Like this is this is the end of September, like we have. This is Tober. We're rolling up on enough. Just kinda told you how like see the using of what we can do. You know, this is this is something that is a long term play for you tech business along on play like this real estate thing is not something that's going to be on the side for much longer like you do this thirty day challenge. You start, you start down this path. I'm I'm, I'm telling you man, the sky's the limit. The sky's the limit. This is just the beginning in. I'm so happy to know that even if this was it. I mean, you knowing that this is just the beginning, but even if this was it what you've just told me even if this was it was well worth it like, I'm just like, that is amazing. He doesn't even know how much values just left in the tank like this is a lifelong thing, you know? But even if this was this was all worth. It means a lot to me and I'm so happy that you know, we've we've been in contact and we've been able to do this man. This. This is just the beginning. So in a general sense, like overall, what, what were things like before before the millions before we started working together before that phone call before. He found out about the podcast what we're things like in a general sense in more specifically about real estate and realistic investing in your thoughts and your beliefs in what you could even couldn't achieve. All right. So in this particular market, you want on the sideline easy how he now prices are seeming price? Definitely price difference shooter roof, but the value is just going up is not going backwards. You know, when I remember market, are you when liquid is San Francisco Bay area? Got slow. You know, this leaves Oakland services those in all the small cities in between in the tech companies are, this is where you know, all the universities are Stanford Berkeley, yet a absence allies. Just this work people here. So you stand on the sideline. You watch, you know, in two thousand eight when the crash happened. Remember I was in grad school at that time in another state in Texas. And prices go down here. They just pretty much stopped going up. You know, they've been out a little bit, but it wasn't, but you know, happening recipe country, so so you know, think just kept going up in up and up even after you know, even during that time, you know it wasn't just actively so where I watched that, but I still on the sidelines. Nice all what happened at that moment in the fast forward ten years later, I'm seeing how much growth has happened. So in I'm standing there and I'm thinking to myself, I'm too smart too soon. Not be involved in this did not be able to figure something out. He's only because I don't have the system of loves from the euro a web one about his Co. where was at that time? I was still in my apartment making a no, but I considered to be good money in find myself kinda thrown away at the end of the month. So I'm looking for solutions. I'm looking for. Know what's gonna happen. Should I wait until another crash happens because he the bay area is going up and up or wait for something to know some signs trauma to get into real estate. But I wasn't thinking about it was more Sonal Sal. I'm just pretty much looking for motivation looking for a reason to get into Ed out. Fortunately came across the gentleman who was encouraging people who you know. He should note that years ago when I was buying these places this much now it is having thirty years, but he thinks kind have no stop station. Now that's Sistema propagated start looking not the name job by Mr.. J Morrison was a guy up radar. I know that that's how I can cross these EM in the listen to those stories and listen to how people in our country were responding. You're acting in real estate. Nice. Nice. So you. So you found us you found us through through, I guess, searching on nights for Jim Morrison's, you found us necessarily hours all started really inches. Seem where he was featured in kind of like his message, like what he was honestly, his background is said no, sir, where he came from in understanding similarities in gift precision. Okay. So if found the interviews and listen to the information was spreading nice next night. So you, you heard a podcast in which I interviewed Jay Morrison and you like that episode and then you go listen to a few more other episodes that accurate. Exactly. So I'm looking down the playlist in titles insane. I wonder what kind of constant topics that he's covering looking for. Okay. These are relevant topics. These are for sure. A lot of information I came across was pretty fans and a little bit over my head yachters. So so I like the way it was broken down with like the way it was, you know, easy to digest than in possessively for beginners. I mean, I think money your against the fans of you have been in business for wall along time so you can gain from Asia. Now those, but I like the very Baghdadi speaking, uh, specifically to guys who green in didn't have in just wanting to know more have never done a deal. Also in your situation, what I guess what was maybe you were having trouble you thought about real estate, you thought it was a viable vehicle. We started looking for answers to your problem. How do I do this? How do I get into this? You knew about Jay Morrison. You've found. Hit, you found him and threw him, you found us, and he started going through all these episodes and you're like, okay, this is possible this possible for somebody like me who's never done this, who has no experience. What were the obstacles before this is even still before we started working together, you know, even at this time, what were the obstacles that were may be having you on the fence about making the decision? Because I know that you were looking for help, and I don't know if you were looking for coaching or consulting at the time that you were looking for help you early for answers. So what was maybe an obstacle preventing you from getting help or getting coaching getting consulting, find somebody to kind of being your corner, kind of walk into the process. Number one. When you look at new prices that is. The big is obstacle because you again when you're in this area, low income here is one hundred, twenty thousand dollars. I definitely low income. If you're making a hundred thousand dollars. This is a family four by the way. So if you're coming four is in writing knowledge vessel, sitter, low income. I'm going to look for farmers and I'm having to sign up for these particular programs that affordable call affordable housing. But they list for housing as hundred, twenty thousand dollars by good. So because of the cost of the land cost of the the bills, eight here is so as novel like there's no back in the forward in here all the time. You know what? Let's be real be honest. I never really said that to myself. I never really said as I'm rhino train or walking or at a gym, and they were told myself, you know what? I can't. I can't do this only but mission that to myself because I would hear people say that. I mean Gobert to say that our here friends over here, people on the street I would read about how is so damn expensive here. I can't afford anything. So that would replay my head in that also speaks another point about what you digest in a lot of the material that you know the people you keep around in the low, the consume in how that could play Drake's because I don't. I can honestly say that I'd never recalled telling myself, I can't afford it here on otherwise. I wouldn't be here. I would be some other part of the country or museum. All this industry are. I will find a way to live comfortably, but obviously on soon here making his own in this was Braise so I don't wanna leave. He should. I maybe maybe not. I don't leave. So I always justified. As I watched friend of the friend family move out of his area, go too much more affordable areas, inspectors answers, children involved, maybe jobs, but that's not me I can make here. So I stopped internalizing the whole notion of I can't afford to expensive here was like, I got over that is all about making. It happens figuring out a way to to move the plan in order to, you know, make sure you stay here. So I don't have the week main. I saw powerful check. I'm glad you touched on that. So so when it came to, I guess you having that guidance you picking like, hey, like I want. I want to be able to learn how to. Invest in real estate, and then you going with us, you going with me, you, you putting your trust in your faith in like, this is where this is. This is why wants to be my coaches where I wanna learn what what made you choose us? Because I think I've a little older than you are, but I was thinking about, so he's phase the leg that he's speaking honor. Sandy is vibrating on a level that in a frequency that I'm picking up on, I don't really reviews. I read, I read night tag mcginnis all. But for the information that you provided in the concert you created in a offered out, I listened to a like a vibrate level that I stay will there's something here, you know, I'm not exactly sure what it is, but I feel like this might be good decision in Berkeley. Would this particular guy? I think this you would understand mostly where I'm coming from in, I can understand he or at least get explaining in a way that will make sense for me. You know, you can always fuss over people may. I mean, anybody can get ally in body, bake it, YouTube video. Anybody can create a course invited what qualifies it while how're you qualified to teach me about what you think that you may be an expert at which you think you know. So there's so much information out there. Does YouTube videos, the lower in everybody has an opinion, but after listening to what you were slated in how you slanted, you know, it made sense in, like I say it was something about the, I know there's by reports the for sure emissions bigger born. And then you know, that is what you'll give them that solves the good feeling that this is a good move in this decision to go in that direction. Don't look the other way going this particular direction. I love the amendment. So you've now completed your first purchase, you close on your first property tech in in the hot. Market in the world you've closed on your first property. Now we've worked together you. You've been able to successfully do that and you. I mean, you got the keys. What did you get the keys yesterday, Wednesday again. So today you got to today's ago. I mean, what's life like now, Howard things going and what? What? What are you looking forward to in the future? So a lot of moving man is funny for one person, you think you would have a beard of possessions, but you realize, you know, got a lot of stuff, so I'm transplant things back and forth. I'm starting to get. I shared the news, close friends and family members, but you start to see how much I won't be. It'll be worth thinking about this again. Maybe just this area because he were satellite Washington hat out how fast things are going by. But most people found out that I completed this transaction are now people thought to perk up now and like, all right, should I do this? Now I have somebody who I personally know who has was done. Demonstrated how to do this. I should listen to this. So now getting fired from family members of questions from those who I had no idea that this was undermined. No, these are just topics that we'd never discussed, you know, if did discussing death. So I'm getting pressure from people. That's my life is like now a final self answering questions for you know, a close friends, family members who are also in the same stage where they're just alert can Keno. They haven't really hired anybody. They have no thought out a real serve, you know, they are just looking for information information. They're just reading license of homegrown. Those people or at least they're making. They're making themselves known out. They're coming out and saying, this is where I am you. What was it like when you're there. That's how I feel like now. Otherwise, I'm just getting those getting into my neighbors. Getting to know the neighborhood which already some I know in talking to the eighty to get out of people showing up, told me featuring systems or listen. This guy here in our go make one. So. Pretty much. That's awesome. Man that stop. I love that. And I again, thank you for sharing everything that you've shared in last, but not least. I just want to know that you know, with working with us with working together and learning and growing and me telling you, hey, you can do this and whatever it is that was, what's your favorite part of the experience? What like what? What are some of the things that really resonated with you over the past few months? Really at the study says, I'm a person who I do like to read. I do like to consume information. I think reading the the beauty of reading video. I don't videos. I could baking now, but I like to read because you focus on that. You're not distracted by the sound car they're going by, or you know the cat that walked by you video. When you're watching video. I'm always sometimes I'm thinking about it as well. But when I'm reading I'm like into, so I like the material that you put out that forces you to look at a sheets or the get in. Again, this is just me will begin their nose spray. She's looking at. Commute in muscle reading, zero reading out twos or reading the directions. I, I got the most out of that because I can see what I can see in real time how this was working, and I can see where the numbers may sense ninety, the supporting statistics that helped it acted see line for line how this could actually working then not be working up, putting calculation myself invite when he started numbers in like the the deal in lesser form doubles billing, good. But it helped me. They're not go in essentially put into practice. I will go on final listening in do like a mile round move. How disconnecting words in spending hours of doing that. I got the most out of the calls were for sure. Helpful. Because nanny. Around you. Like man is another week, and I still haven't gotten. I soon be here by now. I should be here by now, but I'm not what am I going role in his eye? I'm not doing wrong or I'm just needed to just whenever I try last week, then find another angle. So for sure the the analytical side or the documents though is forms unbearable. Because again, I didn't think about it other time how? No. I'm standing outside the office in grays, giving me a year Beadman so. But you'd think back on it. That's what got me through the next day. That's still got me to win status. We through the Fridays and being about the message that have sponsored this guy because I don't want because I don't want to be misjudged thinking that I'm a smart person. I know I am this. I like to think that I am how come this is inverting. How am I not faking his out? You like listens, try this way. This is another way you can approach it from this negative, and then you're hearing from you in an understanding that all right. It's not that I'm not working. Just need to readjust Maya approach in a there necessarily. Man. That's it in like, like you said, you're brilliant, you know what you're doing. You've been spot on every single time in whenever it's like you want to, you know, when it comes to account ability with everybody in every area when it comes accountability, you have somebody else in your corner that can just even listen to your ideas like half the time. I just let you talk and even just letting. You talk like you'd come to, you'd come to conclusions all on your own at somebody to bounce those ideas off of you had somebody that hold you accountable. And since you set that out loud, you like will after checking with right next week. So I should have done what I said I was going to do, you know. So it's beautiful and I and I love that. Was it hard? That was hard, but we think about working with me specifically as opposed to just going through the course material and things like that that added benefit. Was it hard in contact with me or was it was I available? What were you able to like book? I mean, kind of talk about that that little process as well. So man occupied out q really went under. Out resume. I didn't want to call you to listen, I, I should be able to figure this win the information that I was given. I should be able to figure this out on my own. I'm not the president who I don't like to have my hand held. You know, I like I like manage. I don't like to make it seem as I'm a poodle in roomful bulls. You know, I should be able to do this on my home. I did not utilize as I probably should have and nobody. But I'm excessive. All right. Yeah, for sure. I could have the times that I did send emails or make phone calls. Dab was very, that was there. I'm thankful for that. So you refer sure accessible. I could always, as in got an Email response got of the phone calls are like a more so than the emails is never been issue with the pick up the phone and driving amid the middle traffic. I'm not saying driving on the phone and talk about same time because that's an adult comes up so in. That's where I'm. I'm in my own world who I'm not distracted by, you know, other people. So I'm thinking to myself, have Saudis recommended ideas, questions to reach out event. And I would always purposely squad schedule my pause during my commute's release show yet that because that's been a head of time to think a forty five minute commute time in the end zone, I guess where I was going, I already had my questions or have when I wanted to hear what I wanted to ask you. So so that was done intentionally, but it's never been an issue is just I should have done more. Viata not really said. That those people are listening is to take advantage of this opportunity. I will, you know? But I mean, you still you did a great. And did you were you at any of the group calls where we analyze any of your deals at lies? We're told you tell us the the. Yeah, the group calls really helpful as well. I know there is one to two battles name, but listen to some of the deals than they were you analyzing the group all's and then so that it really motivated me to bring some right deals because again, the amount of attention in the mount of detail that you would go into with some of the the other members who falls or the other members deals during the group. All right. Listen, this opportunity. I could have that same chance. Have my deal, analyze earliest, get assistant with my deal. And you know, I'm listen to everybody else doing so take advantage of that. So I did purposely push myself to go out and get a deal or get become postal the deal brings of their group, bring to you and then have a analyzed in remember one in particular in a triplex. And I remember we saw the initial when we're going through the analyzer. I think it was something about maybe the taxes or something. I got one of the calculators wrong and you're like, hold on. Wait, wait. That doesn't make sense. Go to those numbers. Don't make sense. All right. This is what you did wrong. You're doing it on an annual basis? Yes, that's what it was. On zest. Right? That's right. You remember that? Yeah. So best man were you, were you on any calls in which you heard somebody had just completed their first real estate? We've got got the first deal done. No. Okay, cool. Coke, walk. The call took place during some crucial periods of your time last night, at least. I mean, would you recommend to others and if so, why? Adding everyone in the end, they wanna feel like an individual person day can accomplish things on their own is important to be able to, you know, look yourself in the mirror and say, you know, I am a, I am manner. I'm tonight I can. I can afford the ability to send my to beat, but I think in the end relationships are very right people. Educate me your circle of the people that you keep in your immediate circle in also you go, those are people that should at least reflect on the idea that you have. If not, then there should be. Some component of the personnel in your physical, they're doing that vote, the woman, your own life. No, he's never be wasting time with people who don't have influence on or have some type of important standing alive. You know, at that age bird that's how I feel when I was a kid, maybe not so much, but now time for that, don't sixty help me in the end nuts himself on giving person. But I think you represent if if someone had a friend or someone had a associated that was like, you know, a heavy that person in their circle areas. One is. So I think that makes a huge difference in they all the stuff that people do on a daily basis that don't afford them the opportunity to advance their lives in metric, careers in their goals are pretty much in your reach age. You don't look bags. Eight name says a lot of time with. Last decade lesson years in, but having someone like you hold them accountable updates, I will definitely be that person for of the people that are my life. So that's what I learned the most from the. I think that's what I can say. I got. I think that I was that way before we even met, but there has definitely hence, so the way that kind of guided me, this whole process is remarkable. So definitely going to reflect in my own self then with people that are must circle. So I would definitely recommend, I mean, is is much more than just a real estate deal. The overall experience is is not just all right. Let me just find his piece of property than we figure out how to capitalize on the day is really, it's the lesson you know, for sure is a lesson in a journey that you take for so much ration- man, so he can open it up. So I with Fisher recommended, you get much more out of it than just let me just get another investment property by now in the road. Figure out how to get in to win the game is bringing the nets me. I appreciate that. Definitely. I, I like to think of as well, and I'll wanting I was talking to one of another associated about was the fact that there are lots of programs in courses and things like that. Help you get into real estate, the help you start real estate, the help you, you know, whatever it is doing in real estate and there. I mean a lot of the things a lot of the principles allowed what you're learning. They're very similar if not the same, what I like to offer. I like to bring to the table. I like to think that we're bringing into the table even on the podcast, even in the in the Facebook group in everywhere else is not more sold a real estate aspects of things, but a new way of thinking, knowing entrusting that you have the capabilities of doing thing that you want that you don't have to settle for where you are right now and that if you can only only see what's possible. Only imagine what's possible is actually possible for you in your life and then start going towards that path in terms of passive income. Everybody's trying to save up so much money for retirement. If you can just start trading. Streams of just five thousand dollars a month that will drastically change your life that will drastically change your thinking. Drastically change your data days where you are, what you're doing, who you're being and you're filming. So I like the, I love the real estate. But for me, the real estate is a vehicle. I wanna help that individuals similar to what we talked about, what you just discovered. I wanna help that individual realize, hey, I can do this. I can do anything, and I'm set on this path right now. This literally about the change my eyes. So tech. This has been amazing, man. I'm glad to dribble to share your story. Is there. Is there anything else that you think is important to mention that you kind of just wanna share with the audience? Just maybe leave a parting gift with, I think what you said is important that they be able to create your own world around you, but you're listening, you're you're media world that you have control over there, but the best important to know but is important. It's not just enough to know really believe it really believe Duquesne care. How old's your will I. Not for myself, but I know that I know there's people who are much older than I am who have got a late start, but it away right in now there's fifty five sixty years old. Say the dime obscene this first hand, yo, that's kind of why not about these early on because that's a devastating position to be in at that stage. You're you're, you're late man by what? Hey, what happens though? But knowing that you can do this but also believing you could do even event lados you can get started. It can do something to change your immediate world. Now you have control of your immediate environment, so take control of it. You know, if you don't, somebody else will so you'll be stuck doing something that you probably don't enjoy or you know, doing more things, but you back where you started. So I think that blaming yourself, I mean, it's saying, but same on dodgers note to believe it. You gotta actually believe that you can do it. You have to actually look in the mirror, but the trust what it is that you see is Gert lectured, trust, your gut trust, but you Sadie. Yourself, and you know, just won't say too much negative stuff, see yourself because then you trouble. So the trust thing that you said yourself and hopefully as gifts up, but I really believe that you can do is be Harvard. It always is. Nothing's gonna be ever easy so, but don't do index fan. You know if he actually tried to commit more than just a week to it, then you'll start to see something that you know you can't own the entire building in two weeks yet the some take a little time, but stick with it, believe it, you know. Start the manifest your world make your surrounding how molded the way you wanted to book. Hey, that's that's true wisdom right there. That is true. Lissome will tech again. Thank you so much, and I just know that you're set on this path and you're going to crush a man. Like I'm just thinking about the next six months like when we get your coming right back on whatever platform where we're going to send this out to you coming right back on. So this is on the podcast, this Facebook group where you're coming right back on six months to eight months year, and I'm just like the goal is to have three, four or five, six more transactions than I ready laid up for now. Yeah, for sure. I now have all these listeners like holding you accountable. Sakano we've discussed fine. We've just kind of bringing you discuss defying and it's something that I know you can work. I know that you can start getting deals like it's water, but you just have to apply the system and go to work. That's literally like the sky's the limit now. Right? Rancor pay everybody out there. Thank you for tuning in. Thank you for listening to this. I think that hopefully you've been inspired. I've been inspired. I'm ready to start my day. I mean, this is already started, but you know, it's one of those things to where I'm amped up on motivated, and now I'm just really happy that we're able to get this result this. You're happy. I'm happy. Man, what a powerful, powerful interview. I enjoyed it a lot. I listened to it quite a few times and not because I wanted to hear how good my coaching in my services were, but actually I went back in, I took notes because I learned so much through this call with tech. And again, I want to give a big shout out to tech for actually allowing me to share this with you guys because this was actually rather very personal for tech. So definitely want to give a big shout out to him and I'm glad that he wanted to just kind of bless all of us with his experience. But some of the notes that took down from discussed the benefits of coaching for real estate investors, and I wrote down six benefit number one, you get inspiration in Dr even when your own motivation and competence is floundering number two, you get a guide for success. You get a guide for a waiting costly mistakes in making more profit. Decisions number three, accelerating the speed of your desired result and success before tech found us. I mean, let's face it. He was struggling. He was on the pet that I started on trying to get that first investment property is such a hard task and if you don't have the right guidance in place, you may complete that transaction in may be a bad deal. So at the same time, you want to accelerate your speed. You want to accelerate your speed for your desired result and success. Benefit number four. You get to create a strategic plan for you. Are today in what you wanna be benefit. Number five. You get insight into savvy systems in methods that are actually sustainable. You're not piecing together a whole bunch of different podcasts up SOS from different hosts, a whole bunch of different courses, Hobeish different seminars, and creating your own formula wishes never been proven using a proven system that works so that you know. No, it's up to you to work to get success last but not least the last benefit benefit number six because of the accountability in the time management, these skills keep you focused on being productive versus being busy. They've hope advise six benefits also came away with some quick tips. Again, this is the lifestyle design acceleration hacked. Segment of the show has make sure to bring you guys as much value as possible since we didn't get to interview tech and ask him the famous six questions that we asked to every single guest comes on the show. So I think these are pretty good takeaways. So hair quick tips for getting the most out of coaching and there are five quick tips. Quick tip. Number one be proactive about getting coaching and mentoring through out your journey as a Rusen investor. This never ever end you're constantly growing in the minute. You stop growing your dying. Quick to number to make coaching slash mentoring and learning a part of your weekly schedule. It's not. A one off task. It's not a one off assignment that you do every blue moon. This is scheduled. It should honestly this along with masterminding should be the most important task of your week when it comes to your business. Tip number four continually measure the ROI return on your investment on your mentorship, especially if it's a long term relationship. Quick tip number four, stay open to feedback from your coach and others people around. You're going to be able to see your blind spots. People around you are going to be able to offer you insights that you can take and should take what a grain of salt. But he to them sometimes because you never know. So just stay open to feedback. You never know what's going to help you propel down your investing journey. Quick tip number five last night lease to get the most out of coaching glisten with the intent to take action. We often listen for attainment. We often listen out of boredom. We often. Sometimes listened for education mistake that for listening with the intent to take action till, don't get it, twisted. Listen with the intent to action. You know, sometimes we all can use a little bit more motivation and encouragement in our lives. In when I think of coaching, I think of just having a personal trainer in every single facet of my life that I wanna bitter myself at store instead of you having a personal trainer at the gym, just think of your real estate coach as a personal trainer, helping you put hundreds of thousands of dollars in your pocket. Now, many people look at coaching something they wanna do to get started for their first deal for the first few deals. But I mean, that's not really where coaching should end. That's actually the point where coaching should start. Sometimes, you know, you look at some of the most successful athletes in the world and some of the top business minds in the world, and they all have coaches in one form or another toll. I mean, it's clear that it's coaching is not just for people who need help out the gate, but. But rather a trait for the super successful, I think so. Anyways, guys, I leave you with this. Everything that we've talked about on today's episode, all of the advice and knowledge that we've given all all the vice and knowledge in the world is useless skies. If you don't use it, make a commitment day today. Don't wait another second. Don't tell how do it when I get home, do it now make a commitment to find your mentor. Someone you can trust to help you start or continue down your path to financial freedom and success. So guys, I bid you adieu mousy you on next week's episode. Thanks for tuning into today show if you like what you've heard and you're interested in seeing if you're a good fit work with the before the millions team. Here's what I want you to do next head over to before the millions dot com for its lash call. That's before the millions dot com slash call and book an appointment to speak with our team. We'll get on the phone with you for about forty five minutes and we'll get you crystal clear on three things. Number one, what is your cash flow goal? How much are you looking to make every month number two, your personalized investing strategy and number three, the best way to get started using cash flowing rental real estate. Remember starting in scaling your real estate investments and business doesn't happen by itself. You need expert guidance to make it happen. We've helped clients all over the world start in scale. They're investing efforts to six figures and beyond while enjoying life and making the world a better place to find out if we can help you do the. Same head over to before the millions dot com for its lash call. I'm dura Eliya. And let's talk soon.

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BTM104: My Unhealthy Relationship With Money with Chris Bruce

Before the Millions

1:11:51 hr | 1 year ago

BTM104: My Unhealthy Relationship With Money with Chris Bruce

"This is the real Aaliyah and you're listening to soda one L foul of the before the millions podcasts. Are you ready to be the master architect of your life? Are you ready to design your business and invest in needs that complete the lifestyle you've always dreamt up to are you ready to learn from entrepreneurs and millionaires whoever gpd a certain level of success? Hey, this is Derek location. Independent entrepreneur. You're listening to the before the millions podcasts. I am Gina Lofton. I am an investor and you're listening to the before the millions podcast. Hey bear. My name is Heather haven would marketing coach and global entrepreneur. And you are listening to the before the millions podcasts. Hey, this is Marcus quick. The host of the seven minute men to podcast global entrepreneur all around. Geek. And you listen to the befall the millions podcast. I am MC Laubscher the cash Linenger. And you're listening to before the millions bought cost. You're listening to the before the million spot cast, a whether you're looking to invest were cash flow all built an online business that allows you to be location independent. You've come to their. The right place. Mr. Hollywood himself presents the be four the millions podcast. Now, your rose d'auray. In twenty fifteen psychology today produced an article titled fifty-one signs of an unhealthy relationship. You guys know the types of relationships we're talking about, you know, those those toxic connections, and this article blew up, and it came across the eyeballs of one of my good mentors clip ravens craft and he wanted to break down this article, and he did thoroughly in two thousand seventeen and I just want to share with you guys. When I read in the article some of his thoughts and some of my thoughts surrounding unhealthy relationships going through this article. I started seeing some similarities I started drawing some connections. Right. And I'm not gonna read you off signs if you want to go check it out you can. But I want you to start thinking about some of these warning signs in the relationships that urine. And maybe a relationship that you haven't quite positioned in your mind to be a relationship, but maybe you should this EPA. Is titled my unhealthy relationship with money in our guests on today's show. Mr Chris, Bruce, he talks about his unhealthy relationship. And how he's been struggling no matter how successful he got. But how he struggled with money time and time again, we're gonna talk about the problem. We're going to get into his solution. We're going to get into your solution. But to give you guys a quick background on Chris. He's been investing for the past nine years eight of which have been full-time. He's flipped over two hundred real estate deals in five different markets. He has a digital marketing company sit to seven figures this year so on this up. So we're gonna talk about some things like, you know, what happens when your tenant drug dealer, get shot and killed devastating. How to recover form foreclosure as an investor, and I can tell you that right? There is a sign of an unhealthy relationship with money. Maybe there are signs in your life that you are in an unhealthy relationship with money. And it's time to face the facts, it's time to own up to our mistakes and figure out a solution right now. So as I was reading that article, I was looking at all the reasons and all the warning. Just like, man. This is crazy. Like one of the warning signs to indicate that you are in an unhealthy relationship with your partner. Whether that be your spouse or anybody else or even money, right? But one of those signs was that you don't have a sense of relationship security. So maybe you broken up with your spouse or almost broken up with your spouse numerous times, another one was that you end up doing things that you are shamed. Of in the course of interacting with each other another sign is that you're not sure how dependable supportive or reliable. Your partner would be in a situation where you really needed them. These are signs of an unhealthy relationship with this. Last example, think about like if a close family member got cancer. How dependable how supportive how reliable would your spouse? Be if you really needed them right time goes for money, again, you may not have that sense of security in that relationship. Again, we're looking at many as a being another warnings on you may blame your partner for your life. Not. Being a satisfying as you'd like it to be. Wow. That one may hit home for a lot of people. You may be feeling like you're making a sacrifice for Graham, visions because of your partner or in the money since you may fill your partner is the reason why you are not satisfied. This is an unhealthy relationship. Here's another one your life together may seem out of control. For example, you both spend much more venue earn people can you relate or this one? You worried that your partner might hurt you you have a sense of being trapped in the relationship. There are fifty one of these not going to go through all of them. But you guys get the idea. Right. Maybe two more. Here's one you feel lonely when you're together last, but not least there is an absence of affection in your relationship. And he may be like, well, the bible says that money is the root of all evil and the bible doesn't say that. Actually, it doesn't even say that the love of money is the root of all evil. It's like that game you play when you're a kid with the whole classroom and you start off with the secret. And then you whisper it to somebody else's ear, and then they whisper it to the next person. And then by the time it gets through the whole classroom, and the original message could spec to you. It's a totally new message. Right. But what the bible actually says is the love of money is the root of all kinds of evil, and I one hundred percent belief this like factually, right? But on the flip side of that. I also one hundred percent believe that the love of money can be the root of all kinds of good as well. And we see that prevalent all around the world all day, everyday, economy capitalism. The lamp trippy, right? And I believe what distinguishes the two is our relationship with money. I mean, we already know that we have the power to create any and everything that we could possibly imagine Deuteronomy eighteen says that God has gifted me with the ability. To produce wealth. So these two versus don't contradict each other at all. But in fact, make that much more important to start cultivating a healthy relationship with money. So we're going to learn how to do that here on today show, in fact in the tip of the week. I'm going to set you up with the easy exercise that I've been doing since two thousand seventeen but I'm going to set you up with an easy exercise to start helping you, cultivate, a healthy relationship with money. And then Chris is going to help you guys hit it out the park. So let's get to this of the week to raise of the week. Since we were children. We've been taught that money is the root of all evil money is not that important the rich richer and the poor get poor. I'm just not that good with money. My family has never been rich money is a finite resource. It takes money to make money. I can't live a balanced life. If I want to make a lot of money money doesn't grow on trees. I many times of your parents told you that do I look like an ATM machine. So all our lives, we've been conditioned to have an unhealthy relationship with money. So recently, I was in Miami Florida, and I took an Uber from my hotel to a restaurant, and they'll derived was about six bucks. And it was nice override. I seeing pleasant guy. Nothing not normal as I left the restaurant. I wanted to go back to my hotel on the way back. You know, there are taxis. And there are oberset wait outside of your hotel or around that area. But at the restaurant, there was no such thing. Now. Was a private car nearby Mercedes-Benz? And again, this was a private car with a private driver. And his rate was a thirty five dollar flat fee to get me back to my hotel now with this guy had Cup holders with water in it yet snacks all the chargers in the world. You can think of newspapers saw grabbing you pack nuts seat warmers hit the works. Right. Just ended a ton of Allieu. Now, you may argue that I take the six dollar fear any day. Right. But there's a spectrum of us out here in the world. And although a lot of us may take the six dollar value. There's a portion of us they make a thirty five dollar value. And that's the market that this driver is catering to right? But he knows that the more value. He can add the more money he makes and that's key. Really the more value. You can add the more money you make in this world. And what I've noticed amongst the billionaires of the world, right? And even the millionaires of the world and some people have been on the show. Is that there comes a certain point in which you stop really caring about the money as a means to provide for you, especially once you've gotten past that point to where it provides for you and all your needs. But it gets much more bigger than you. Right. You don't think that Bill Gates and Warren Buffett and all these people are making more money to provide for themselves. I mean, that's just not it's not feasible. They can spend that money on themselves, even if they tried but the game is more. So how much value cannot create in this world, and the money is a measure of the value that they're out pudding. And it's always equal to the amount of value that you're giving no matter how you slice it. So their game is like I need to be able to keep score of how much value on putting out into the world. And this is the best way I've learned how to do this again. This is the mindset of some of the most prominent people around the world. How can I add more? I mean think about Warren Buffett think about Berkshire Hathaway he is constantly looking for value. That's all he does. All day every he's looking for value. The more value. He can find is the more value. He can take and present to his investors as a benefit for them and himself, and that's in fact, creating more revenue for himself. So he's looking for value all day every day in these stocks, and the amount of money that Berkshire Hathaway generates is a direct reflection of the value that he's adding to every single person that he touches through his investments. Sam goes for the tactic cabdriver. Sam goes for you at work. You are getting paid equivalent to the value that you're putting into this world. There's no way around that. So if you wanna make more money too key is to add more value as real estate investors were adding so much value all across the board. I mean, I can't even begin to name to you. How far and wide the value stretches like going from the points where you're helping somebody who's about to go into foreclosure get out of Bacich ration-, not dingo up their credit score not file for bankruptcy. You're helping that person and that person's family, right? Ri. Locate maybe start over that's powerful as investor and guess what? Once you purchase that property some of those funds, go to a title company, right? And you're helping all the people in that title company in the mortgage officer and all the escort officers, right? You're helping them provide for their family and pollute on the table. And then when you start the rehab same with your realtor, your attorney and all the other people on your team, they get paid through this one transaction how many families I mean, you look at the line items on a closing statement. You're paying off so many people that's Baillieu. And then once the rehab starts think about all of the contractors and the subcontractors in the workers. I mean my goodness. That's a ton of families at you're feeding and in the parts that you have to get from the store from Home Depot. Oh, wow. So you're helping the Home Depot employees as well. Get their paycheck every two weeks, and then they get their products from a manufacturer. So this manufacturing company is getting benefit as well. Because their products are. Being sold, and you're helping bear employees get paychecks every two weeks and the manufacturers themselves they use what we call raw material. You know, porcelain wood and plastic and steel and all that good stuff. Right. They have to outsource those as well. And it goes on and on and on you think about the tenants the providing housing for the community that revitalizing by rehabbing? It's a powerful thing. And you could just really get soaked up into the good that you're doing in this world as an investor some people like the call us pig capitalist. But I mean, I believe that capitalism is the thing that keeps us moving as a country as an economy ahead of all the other countries because capitalism sparks value and the amount of value add sparks income, and that sparks a lot of motivation for a lot of people because this is the land of the free. This is where everybody around the world comes for opportunity. We create more. Preneurs than anybody else. And quite frankly, there has been no better time in history of Chris on the show can do it. You can do it. If the next man can do it. You can do it. If I can do you. I sure can do it. Right. So to end up tip of the week. I wanna play this clip from two of my favorite podcasters, Amy Porterfield, and James Webb more. And they talk about the effect that I'm talking to you guys about here today this trickle down effect, and how you are adding value to so many people again, this is just step one. This is the tip of the week. So this is a step one of cultivating nine healthy relationship with money. We're going to get into this a lot on the show, but let me go ahead and play that clip of Amy and James right now. So that you can start creating a bulletproof mindset around money and right after that, we'll get right into the show. So here's that clipping for you guys. Now is when he is hard earned. It's hard to let go it's true. You had like slave over that money. It's so true because when money starts to flow, and I wasn't expecting. One. I'm probably more charitable. I have more fun with it. I'm not so tight around that money. So true. So I kind of created this analogy for myself to help me with this the difference between a dam and river the water in a damn is is like stale and stagnant. And I wanted to go from the dam to the river, which means in order for more to flow in I have to be okay with it flowing out. And I tried I read that years ago, and I tried that on as an experiment, and it was really life changing for me that really to help improve my relationship with money. I had to get okay with spending it. I mean, I just just like it was like two thousand twelve two thousand thirteen like dropping money on anything was up physically painful experience for me is it painful like I just couldn't. And I was I found myself in this whole pusher. And and so I wanted to work on that for me. And I was where I got passionately fascinated about. Why is it so heavy for me? So. So today, I look at it as like a river, you know, where the morale it out the more it comes in. And you know, obviously, I want the river to be like Niagara Falls type river, and I found a lot of evidence of that. And so there is a great exercise for those who have that experience of just like having a really hard time letting go of money because I think that's part of it. It's not just like what can't make it is like can we spend it? 'cause it's it's there to be used. It's not there to the hoarded and never touched. I don't believe that. So as a really cool really simple exercise is kind of a two part exercise. The first part is like I try and my litmus test is like have you ever like you just bought a pack of gum at like a gas station. Right, right. It's like a no brainer thing. It doesn't. It doesn't have any weight to it. It's just like, yeah. Okay. Your friend wants a pack of gum like. Yeah. Y'all. Get it. Right. I want everything that I spend money on to feel that way. And when it doesn't I look at how it can work on that. And so when let's say you go out to dinner with with all your friends, we've actually had this experience with Amy don't even eat are we play credit card relax on you. Here you told this in the last one. Yeah, I just I told that is now now here's the exercise that we could've done. Let's let's say I get it. You know credit card debt, which means like a bunch of people, and they don't have fancy like lobster dinner. So all of a sudden, they're going to six hundred dollar Bill, and that can be physically painful for people like, oh, man, that sucks. So what I started doing? This was really impaired my relationship with money is I started to imagine where that money is going once it leaves my Bank account. That is good. I started. I'd look just in that moment and takes thirty seconds to do. Right. So I go, okay. We'll some of that money is going to the our server who did a great job and she worked her butt off. And that's going to go. And now that's gonna pay her rent and some of that might pay for her car payment. So she can have a place to live and she can get groceries. But it's also some of that money's going to go to the cooks who make these delicious meals and some of that's going to go to the food that it costs to prepare. Pair this food, and you know, and on and on it goes, and that food came from the farmers that, you know, and when you start to do this and actually experience it you will have a just a drastic shift in your relationship with money because you realize how powerful you are in your contribution and impact that you have in others. And now your feature presentation today we have on the show. Mr Chris, Bruce, Chris how's it going to man? I'm doing excellent. How about yourself? Now. I'm doing amazing, man. And you just tell me that you're talking to me out of Tampa. And I kind of you know, we don't take time machine right at this point. But really really quick I wanted to get into something right before this call house. I might as well save that for the interview you said you have your whole year of trips planned and about lifestyle design on the shell tell me some of the things we have coming up next. Sure. So I have what is the next call Landau because Sally our way, but I have to go to an Orlando next month. I'm what wear February. So I have a a wedding plan to go to Cancun this summer. I have an event in Las Vegas in may at the goat. There was caught thrive that I'll be in by have the gardening to go to Austin twice this year to meet up with my mentor of digital marketing mentor, and then probably going to end up going to Thailand for a friend's birthday in September in. So all other little things will be doing just kind of going back to like, I got a few different events that I need to go to Miami. When you to Miami. I'll be back. I just actually just get healthy. My first event is passed I ever spoilt. My second event. I been for this year retreat English really Hugh success about hosting another one in October. But I'll be going back to Miami four while few different things I'll be going to Miami for this concert rolling loud. Or whatever I'm going there may and then. I have a few different events going on there as well to be going back. Always better might be don't my like my second home. Does don't miss only. Let me ask you this. Chris have you told your boss yet? Have you called in at work until your boss that you're going to be taking off all these? Man. I gotta take off. I love it, man. I love it. So let let's let's kinda get into the time machine really quick to figure out how you are able to do what it is you're doing and how you're doing some things that people are just like, man. This is crazy. I wish I could go on this. It's the second Bax maybe eighteen year old Chris twenty five year old. I mean, even eight rope. Where did you start having some of these these may be mixed? Feelings thoughts any motions about entrepreneur is or even just real estate. Yes. So I'll remember like growing up. You know, my mom she pretty much always worked a job. And you know, she said, Dr started little sad businesses here in there, you know, with Mary Kay to Eminem stuff and some other things never really successful. But my dad was always that big inspiration because growing up he always he had a job at four working there. Make really good money, but he also always had assigned. Visit. So he was evolved in a real estate, but before any advice accessible tax business. The only went on for like four or five. Months out the year, but you would make a lot of money, and I'll see him, you know, working at this business and seen all the clients that loved him, and he had me going there as young ten year old filing papers and doing little things inside the office and meeting some class. I was just like man, I think I'm gonna do this one day and growing up, you know, in my family of what is it? Five of us to says on the Lao side to brothers on my dad's side, I was never the smartest kid, right? So like, I was the guy that was like a seed level type of student and my brothers. You know, so they were getting all as and Bs and stuff sought a kind of realized that, you know, this school day in the whole college thing, rob, we might not be for me, you know, but is early. All right is thirteen to fifteen. You know, just like, I don't know. We'll see right. But just seeing him, you know, with the whole business thing. And and just see how successful he wasn't seeing growth every time like going into the house when I was sixteen years old, and it seem that he had totally rent. Baited and he helped me like renovate. I was the guy that had to paint the walls. And I was like this is cool. You know, right. I might want to do this one day. And that's what kind of got me just the idea of like owning your own business, I stopped. So you kind of have this progression on this kind of started in the earlier years like you were ten years old. And this is maybe something that you thought about something that you did something that you experienced. But as we get older, we start finding all passions around way, we kind of maybe even get eroded and go do something else. So maybe you you went off to play basketball or football or chess or you went off to do something. Right. And then maybe a little bit later on you're like, and there was this thing I used to do with my dad, and I remember that this was this was actually a bible path. Like what kind of happen next? What was your transition into getting into real estate or back into real estate after here? Yes. So I kinda got thrown in real estate. This was is sold is kinda give guys the story on from Detroit. Michigan are born and raised there at the age of nineteen to make a decision. I was you know, not really doing too good forest decisions. I was making in so got a little bit of trouble. And my mom was like, you know, she was divorced from her husband at the time. And she was like I rated change. I'm ready to move out of the trade. I think he started life. And so she decided that it was time for us to move to Florida what she left it up to make his arms nineteen was hey, you wanna move to Florida or you wanna stay with your data. Try and my dad was going through divorce himself in some different things of bankruptcy in stuff like that going on or whatever the case may be his business failing. So I was like I don't know if I wanted to stay try update, I'm just leaving. Glad I made that decision lead because a year later. My dad took my grandma she got sick. He moved back to Jamaica. That's originally from. But long story short. I was down here in Tampa. My dad was at Jamaica. And it was this was the highest thank bubble light. This was two thousand six and miss right before the crash. So it was like anybody would possibly get alone. Right. He's no dot loans where you know, anybody could get a property. So he was like that opportunity for you to make a little money up front. You know, you got your credit s. Okay. But I can get you a property in Detroit. And I'm like, I'm like twenty one, you know, about the between two mile know about that. But what he told me I can make nine thousand dollars friend. I'm like shoot you. No. I ain't had never had not thousand dollars a month possession at one time. Right. So I'll I should do it. So he put on a paperwork together from Jamaica. He got with the lady the mortgage broker put everything together, I end up closing on a property or Detroit east side on Beaconsfield yet and barrow Tabatha property two story home and the mortgage with nine nine thousand I'm more precise five twenty five of month. And. And I didn't know how can afford it. But I was I just use help you grin it out. You know, you get attendant you'll be fine on my cool. And so that's what got me into real estate. Was. I literally bought a run a property with my credit, which I don't even know how to prove. But again that was when the no dot low stuff was going, and I'm twenty one years old nine nine thousand dollars mortgage with only making twenty dollars an hour at my job. But I have nine thousand dollars that put out an equity that I was able to put in my pocket. So I don't rich. I was like shoe. I got nine brand like, I'm good. And I was with my deduction real estate, man. That's also this all this kind of sound from a property that your dad saw or he end up. Yeah. Like, he literally has someone that could put these dot loans together. And so I bought a property, and I was actually getting ready to buy cycle one. But whatever is not Kriton. Am like my brother. He had bought three. And so, yeah, we it was just everybody was getting these properties and was taking money on the equity of front and stuff in their pocket. So what's crazy? I'm gonna be in Jamaica for the rest of the month. So I'm gonna go visit pops and I'm gonna go get a few properties. Actually, what's crazy about me going to Jamaica's? I'm actually going to be Miami. Right. After I go to Mike I'm going straight to Miami. So if you need anything, let me know indefinitely option and bring it to you may. But unopened no seriously. Like, this is this is really good. Because this is kinda wait your ambition kind of kind of kinda kinda I guess kinda got focused. You didn't know what was awesome for Chris at the time note? I mean, what was before before this call from dad like what was your vision? What was outlook? What were your plans? Like, did you think that you were going to be super successful? What did you even have a plan past the first year? Now, I didn't have a plan at all. Like, I was going from job to job on my soul. This was two thousand six when I got that probably. So I moved to Tampa July four thousand four right. So I got a job loss making pretty good money. I was working eight. I don't wanna curse Larry. But like, I was going crazy. I was working like it was Tyler. We're sending hours a week, you know, a little bit overtime because all of these hurricanes came here, and I was working for a claim adjuster company. And you know, like, I was really work as much as I could not was trying to go to community college at the time. And I st-. Realized that this college willing or ready for me, I told him I might say, look, I'm be honest with you other rate work like I'm not really trying to do this kata thing. So fast forward to write a year before I didn't have figured out. I was working, you know, a customer service job. That's what our which was. Okay. But was crazy is like inbetween that time which I didn't even know was gonna come. I literally lost my job. Like, I got this property and everything else. I lost my job because they outsource the company. So I had no idea. No. I don't know what my life was going to look like I just know eventually something had to come along that will get me because I always had drained rich always had drifts limited started lifestyle. I just had no way of how that was going to happen, man. So this lesson kinda falls in your lap in comes from data of all places that's beautiful in. I mean, did you? I know this is not what happened. But did you immediately was like, I know exactly what I'm going to do. And you start hitting success. Outta the gate or did you have some trouble along the way? Oh, man. It was so much from. So like when I got this property, then I was like, okay. Got nine dollars out. I mean, I thought I was rich. Really, I was going to the club pop bottle as you know, my holiday. Lots of my friends on. So then they start making money then hearse winter Miami. And I was like, okay. This is not relating money because people might be a lot of real money like millions of those wakeup call. But like the thing was is that I had attended in there. He was paying the mortgage, whatever I was pocketed really anything. But it was fine. The mortgage was paid. I have my money. So okay, I'm good. And then all of a sudden, I didn't know exist. The guy that ran out. My property was actually like a guy like with friends, but we actually had worked together. And I didn't know that he sold drugs. Like, I had no idea he was drugs up my house. But he was so at around a quarter he got shot and killed. So now, I don't have anything in my party our property actually gives burnt down. But then insurance comes in fix it up or whatever the case may be but a year later, the market crashes. Some like I can't sell his property. I can't keep up coming out of money out my own check to pay his mortgage. Another just let it go. You know, so. So I literally a year later, I get the property foreclosed on. So not my credit is shot. I'm like, I don't know what I'm gonna do. Now, like searching, I'm online literally searching for ways to make money on. Why like other different things to figure out because I'm like, you know, my credit is down below is. I've never saw blow this level bright. So I can't even get approved for anything. And I'm like, I'm broke I'm paying bills, and I really don't have much maybe a hundred dollars left over after the check. Maybe so. Yeah, man, it was it was a very rocky road manager trying to figure out, you know, life and then two thousand seven So Chris rock weightless listed in a lot of people like like the pass up the sex in in kind of go over. But let's kind of sit in this real quick. Because I know there are tons of people out here who are in the position that you are inducted or in a position, and they're just like man like I I don't know what to do. I don't know how to go about getting myself out of this situation. Thoughtless talk about let's first and foremost, talk about the mind. Effect you needed to actually get out of this. Because it I mean, most people that are in a situation like that I seek tons of people are like a hate real estate, or this is a real estate near the crash this buying they have this external bland to all these other factors themselves. But you're sitting here in front of me today. And look you you're still in real estate, even though you had this crazy the Bockel so what which at the time in how did you use? What what was nobody in your ears to get yourself out of? That's what they will credit. My dad too is that I mean, I've Larry saw my dad in high school at the same time lose his wife at the same time. His construction business, you know, going down, and then file bankruptcy on that all of these things going on at the same time losing my Granddad. He didn't shed a tear is like I didn't see no emotion for him. And I'm like that kinda like breeding me to realize that no matter what's going on in your life. Is that you know, it's happened for a reason one, but to you. Can't let those things bring you all the way down. You can't let them break you down. You know? And I don't know if it was thing. He didn't wanna see you know, what else situation islands sweat. You know, whatever, I don't know what it is. But it's like I never saw him like breakdown ever a so just big about like now so constantly that was trained to me in. So all these things that happened was going on. I didn't let it break me. Like granted. You know, I did stuff to maybe kinda like use that as leverage to to not rethink about things. Maybe going out drinking, partying and stuff. Like that. I'm pretty sure that was a very big help. But I didn't let that stuff gets him. The I knew I was gonna find something eventually, you know. So it was never a self doubt of light on the world's anything now. Right or oh, man. I don't know what I'm gonna do. This is prison. The creek Crispell. But what were those beliefs like, what were you? What would you repeat yourself? I mean, you're you're going into foreclosure, right? You're you're in a whole new sounds like you're in Florida. So you're on a whole new state. There's a whole lot that's going on around you. But but your European something to yourself. You're constantly keeping yourself motivated. You're constantly a positive space. What are you are you are you like I'm gonna figure this out or you like like, I know that in the next year like something's gonna break wind like what are you? What are you repeating to yourself to make sure that you're actually still moving forward? Yes. So for me, I mean, at that point, I did have a friend that was still doing the business. And I thought about it like his mortgage was way more higher than us. He had a three thousand dollar house. Something like the three dollars house that he foreclosed on. And he's still doing the business throughout this whole crash in Konami failing. I'm like, he's not worried we're still partying resolving fund. He's still making money. There's gotta be something else that I don't know have to figure out because he's still making money granted his money's not coming every month. But he will literally Meg twenty you're in. And then he won't make money for another three months, but he was still making money. So I was like all right. I gotta figure this stuff out. So the the communist between my ears was like, it's not the end of the world. This is not the end of the world. I will figure something out. And I'm not gonna let the stuff get to me. You know, I'm figuring out in his eyes. So now, we set the thing we painted this picture for everybody. We know where Chris Christie is at the time. So what happens next? How did you get yourself out of his predicament? Yes, so fast for a minute relationship with my daughter's mom at the time, and I didn't have a Kansas. I wasn't wasn't. You know expecting the kit yet but fast four two thousand eight I find out. Okay. I'm getting ready to have a daughter, right? So I'm like shoot. Like, I'm a year two thousand nine and have a kid, and I'm like, okay. I gotta figure something out. I because now I have somebody to take responsibility to take care of now. And I'm barely taking care of myself. Right. And so I started getting into other little MLM's like started figuring out there was like Eminem. You can make a couple of dollars here. And do this little online thing make a little money here a sauce star making little strides, and it wasn't a lot of money. I make fifty dollars here semifinals here. When this help build the confidence up of like, okay? You leave you making a little bit more extra than what you're making yet your job. And so that all of that stuff happened in then on my daughter came February two as a nine. That's when stuff really hit me. I was like, okay. I have a huge responsibility. And now at the live up to surpass what my dad expectations and the things that he gave me I was spoiled on my dad's. I everything I wanted to end more in. Now's like, okay, I can't live live just about me. There's an Alabama about providing a different life for her better than what I had which is going to be RH hounded because the bars already set so high. So that's what being started shift for me. I like I like that. So it sounds like this may have been when you start where you stumbled upon what you what you've actually like built today, which is which is your wholesale for somewhat. So so walk me through that. What was would you? Did you read a book? Did you find the mentor? Did you hear it on the radio show? You let me go look this up. What was the impetus of that? Yes. So two thousand nine after she was born February. This was around may memorial weekend in Miami. I never forget this so little money, right? In may our friends. We went down. We had a ball down there. But what hit me was. I was always searching online searching for things the way make more money online and things like that. And I came across one guy. He's okay, we saw about hosting a little bit. I'm like, you know, whatever. And I came across he promoted someone else is guy impressed too easy. And I'm like hold on this guy's temple and he had flipped a house the same weekend. I was in Miami flip the house it made. I think it was like twelve grand. And it was across the street from a house that my daughter's mom owned as all the hold on disputed dollars of money. Trying to have fun impressing girls doing this crazy stuff in this guy, literally made twelve dollars across the street from how's that own of the sun? So I started in what got me was his lifestyle. He will. He had the nice cars. He took vacations. He will just show his lifestyle in our rethink he'd cut preaching with the word that stood out to. Me freedom. And I was like that's what I'm after. Now. You you talking to him you talking directly to me freedom is what I'm after. And that's what got me. And I I didn't have the money at the time back. My daughter's mom to put it on our credit card. We spent nudge nice dollars on his course, which was how to flip REO properties. Which is you know before closure properties from the Bank in. That's what got me started the business, man. I love that listeners. Again. I mean, we had quite a few guests on the show to talk about wholesaling. So we're not even gonna get into what hotel news in how you can do a rashly going to going to progress through Christmas journey because I think it's going to be very pivotal kinda see like what Chris does next to kind of build his business. So how long were you are obviously started hopefully in two thousand nine how long have you been? I mean, just think about the progression may be two thousand ten two thousand eleven and you're doing this. You're starting to be success. We actually showing some of your friends probably had to do this. You know, things are going things going for Wendy. You decide that it's time to maybe make another business or. Is it like everybody situation's different people have a situation to where somebody walks up to you. And it was like, hey, I wanna learn how to which going and where are you for an eventual? Oh, maybe I can do this or say, I know that I want to do this. I'm going to try to do this is just me I'm going to try to do this and see if people will come. So what was your oriental? You're very next business. Sure. So fast for after a few months, finally at my first deal close star to make some money, you know, here and there and two thousand ten I wanna give a little love backstories thousand ten I read a book rich dad poor hopefully, everybody on this. 'cause I read it or at least heard about it. I read that book J Rey. So like this guy I took on he was more of it was more like a mentor to not necessarily direct mentor. But the president like I literally everything he told me to do. I did. So I read the Barich that and I knew from their January two thousand ten hours. I'll quit my job. When wasting my time giving these people might. They were acting folks are built so fast for may two to the may two hundred ten may seven equipped my job cold targeting tweet noticed this left, and I was gonna figure this business out, and I quit around the same time that a friend of mine that I've met through my sister you which became one of my best friends. He was it appoint quitting his job to it. He wanted to get a hotel. So he was like L take me into your wings show me some. Okay, sure. So we both kinda was on that same grind that same journey. You know, what I'm saying at the same time around majors as a ten and like I showed him. I do is I deal in. Why this how hold on? How did he get a deal so quick faster than ideal? Took me a long time. I Don share on the safe stuff. I know he gotta deal. So my. Though, they have put it on you to buy arm star documented stuff, then I had to somebody else to reach out to news. Like, yo, you know, show me. All right, cool. And I in charge me. I was like all right. I'll just show you just gimme testimony when she calls. The same thing happened. He closed the deal, and I'm like, yo how did these people close the deal faster than I did like what this doesn't make any sense at all? And then this was the ice on the. So let me do. A little backstory dozen ten was not just projected like to our tables, probably the best in worst year of my life. In the reason why I say that because when I quit my job. I didn't have any money stacked up. I still had a daughter take care of. And I had to go back and live with my mom on the couch. Not to mention I wasn't making money consistently. So end up getting out my BMW, four of not foreclosed but ended up getting repossessed. So I didn't have a car. But fast forward jobs tend to end of the year. I ended up winning like launch from my mentor that he was holding for promotion for his company, and I won a Hummer was crazy. Yeah. I wanna rap Hummer with my company name logo and own numbers. Crazy so one in software things like that. But the thing was was that when I won that it sparked other people because he promoted to his list is sparked other people that was like took an interest place, right? Mode. Great. So like this guy from New Zealand. He reached out to me. And he was like, yeah, we're going to US business account. I got a US Bank account the whole nine I got freedom. Saw you know, which was the software mentor promoting and I'm like, he's like, I don't I don't know how to market like stunt doing this stuff from this one lady. And I'm like, it's not working. So I was like all right. You give me a hundred bucks. I'm gonna show you how to get your first deal. Like sure no problem pay pal dollars somewhere. Okay. Cool. This is probably like maybe like October two thousand ten around that time. So then we end up though, some marketing this was in south Florida the deal they had I can't remember the Zach city. I always figured I can't remember. But it was the town and he ends up getting the property under contract. I ended up helping them out now mind you he is in New Zealand in the property, south, Florida, right? We doing everything over the phone. Computer end up finding buyers through somebody. I knew we all split down dollars. This is December two thousand ten. I'm like hold on. I just showed a guy from a whole another country. Hey, just made not now dollars to something. Like, this might be an educator. This is the third person I've helped not to help somebody do a deal from over the phone income shooter a mind, this is like this is different. And so that's what sparked my idea to get into education business to eleven. That's really awesome start what it would a dramatic or have to say about that. He he was he was he was like man, this is this is good. Like he's like that's the whole goal of. You is to you know, he said you always wanna have one hand up to a mentor one hand down to a busy all the time in your sight following that process. I gave you so this is two thousand ten two thousand eleven and you decide to become like, this this real estate culture, helping people along along the real estate journey. So you've been doing this now coming up on a decade pretty soon. How does it feel like it's been a man it's like the tyrant by so fast, man. I mean, the so many deals I've done there's somebody. People out of help to just here by self say Becky, and I'm like, this is crazy like there's no. So so you started so you build so you started wholesaling, and you have it's almost almost like you have this stream of income through wholesale. And it's not consistent. But you're getting these deals Ryan east coaching consulting. And this is a thousand intense with eleven talk about next progression for you. Because I know that you said some of your mentors are in the digital marketing space, and this is like or high thrive. I love I love talking about businesses in digital businesses in on all this stuff. So talk about having your next progression. Sure. So what I realized after that transaction with the guy from New Zealand was like okay academic said on biz up like that as well. Like, I just need to follow everything not taught him. And so what I started to do is put a team in place and start hiring virtually systens a start doing some marketing campaigns. Hiring some other administrative staff, you know, in the Philippines to start doing some late work for me, and then hire people on the ground. And so I started to go into some other markets in. And my bills start to progress to because now I'm starting to do exactly the same thing. I told him now to do and not relying on myself to run the business for there. I started saying, okay. Also, I wanna learn education style business now accredit, my first course, my friend helped me build it. I didn't know anything about selves copy how to promote it, but I was steadily always promoting on YouTube and showing my journey. I was I will take a trip. Like, I literally went to ten probably may I don't know maybe forty thousand that year two to eleven was my breakthrough year, I made my first hundred thousand dollars, you know, and so I- document everything in YouTube of my closings. I was literally traveling. I did a deal at one time until I was eleven where I literally was walking into my hotel. My cash buyer was calling me, but her property I had in the hold of the city, but they weren't to buy. And like me doing that transaction like I came home from my trip in came onto a check. So it's now put the cat docked. Douglas. I just made. Obey the money. I sent back amp some and so that progressively like star to grow education side, people will try to reach out mentor. Look. Hey, look does not much mentorship program as they can afford us. A here's a course for nice knowledge. You can get into that. When asked what start to really progress everything with the digital market decided mentoring side of the education visits MRs Shlomo lifestyle. You know, just show. Hey, listen. I'm I'm a Vegas in my business running right? I'm in Miami business. I'm in New York know, so that's kinda really I was like I wanna share with people that you know, you can look like me you could be as young as me, and you can make money in still have the lifestyle that you want. You know, for me, traveling was everything I wanted to see the world. That's the reason why gotten a business, and I wanted to document to share people that you can be my color my age, right? You have my education background in past college. You know, barely past high school and be able to live this type of lifestyle. Now as my whole thing that's kind of sparked my one of my clothes. I always tell people don't live the dream Libya dream eleven I love. Also, man. So I'm kind of I'm taking back where store because it's really fascinating. And I can relate to a lot of parallels. Especially me being an entrepreneur and kind of following the same things that you've done having those moments, and you know, when you think about have you started investing in let's say like, I know that you were a whole lot of real estate professionally like transactions. What have you like your money back in the best in realistic when you start investing? So I really started to will not more dad would of Jamaica. And he started saying my progression with the business stuff. I started looking at opportunities to purchase on land in Bill properties in Jamaica. So right now, I have two properties one owners laid out Airbnb in other one he's kind of limited that we've built in. We probably going to end up turning into Airbnb as well too. But that's when I kind of that was like two thousand fourteen to fourteen. I was like, okay. Because it's so crazy asking me opportunities to like really invest in by whole properties immediate young. You know, not really like they can even my dad was telling me, I wasn't thinking about cash flow. And so like now, you know, that's my whole thing is like what can I do the Bill Cash flow right in? I'm waiting for the downturn in the market is going to happen to start buying properties. Once these probably Joan, you know, cheap in Americans on sale started doing a lot more investing in holy on some of these deals. That's awesome. That is awesome. Again, going going through your progression. It seems as though you've been able to take what you've learned in in a prior area prior arena. You've been able to use that to your benefit. I mean thinking about the fact that you started you started wholesaling, I think in two thousand eight or nine, and it's one of those where Saragan two thousand nine it's one of those things too where you quickly realized through this this New Zealand, quote, unquote partnership that you're teaching the sky. A whole lot of things that that you had to kind of figure out as you went. So like how he can invest from. No so far away. And as you see in this guy because you're you're learning how to implement somebody's you're like, wait, I can do some of these things for myself. I can use this to build my business. And then I mean, I don't know if you had like if you read this book, you had a mentor hold your hand. But it sounds like that year, you just decided I'm gonna hire all these people when built this system where did you start getting some of that information from like your building? Like, I remember when I've built my first real estate system going back to a course, I spent out in the middle of money rights for an apartment complex, and I was stressed out. I was about to boost my job. And I was just like, this course is going to be my way to freedom. So I can teach people how to I started in house hacking house, heck, I spent three months on. The course I didn't have a proven system. I didn't have a minimum viable product. I didn't show. I didn't already test the product and see if people actually wanted my product but were higher loosely, Chris I were like three or four months job ended up not raising money for the deal. And then when it came time to launch a course in promote the course, sell the. I may zero dollars on the course. Right. So I've been have approval concept. But I mean, I've learned so much now when everything is so different now. But it was because I had those earlier trials your mom's house able to use that learn from that grow in build in figure out. Well, how do I actually build a system like a normal real estate investor? But I'm not yet. What I call a business owner. So how did you make that transition? I know you probably had a few fares as well before he finally started out things. How did you make that transition? Yes. So what tell you the biggest thing that there was for me was my midterm always focused not just on teaching real estate, but personal development has started going on his journey personal development star reading books. I had never really read a book since like pry. I dunno high school says I waited so like started he started talking about these books. Reading was like illegal to work on yourself more than you do your business like your physical in go-to as all this stuff was happening. I was reading books to like one of books that I don't want to give it away to. Talk about favorite books, but fort workweek that but man that puts way that that's when I started realizing like, okay, what I'm looking for is exactly what he explains in this book, and he he went so and and not just giving you the like vision of what life game about. Yes, we got into the strategic step by step by higher virtual staff putting these systems in place these softwares in place. And so that's when I was like, okay. These are the things I need to do to put my business where needs to be. So that way it can run without me physically happen to every single things that by step, you know, as so I credit him Tim Ferriss for week in smoke more books. We talk about later on that really helped guide me into like really turn it into a real business where I'm not just a one man, man. You know, I'm a man salt thinking about some of these investments, and that's like ten dollar investment writing. It would would you need. I think that a ten dollar investment can have that type of return on your life. And I think about that as well. Like my favorite book. Probably today is the for our work. We cannot literally just got off a call interviewing somebody else. And he's he's in Thailand. He's SEO this SEO like magnate, right? Crazy things but his whole business was built upon that one book. That's always we talked about the whole time. But it's crazy. How powerful that book is and again, it's a ten dollar investment. Now, you think about your training think about the mentoring? You've got to think about the courses you take. And you think about the people who've been able to pour into you. What's one of the most or maybe the best worthwhile? Investments you've ever made. And this can be an investment of money. This can be an investment of time or this can be investment of energy. What have you seen the most return of and that's a horror as is definitely at this point. Now made a lot of investments like I just literally idea of the debase investment in the mentor from digital marketing company this past November which fourteen thousand dollars, but I would say they is our ally. That must say there's probably the biggest ally was this program. That was I got it free with the purchase of software, which three your him. But it was the person development. I got for mentor at thank that still has to be the ROI was called the red pill. So he even he named it kind like. Matrix, you can take the pill right in so mom mentors. Like offer Naga text stuff like that. But at the time when you made, you know, he was to me like a celebrity type of guru, whatever. But that probably still to this day is the best awry because it not only took me. Now, the business journey how to start putting things in the place. But like, the president development of everything that I realized how I had to really some of the shift of some of the different ways. I thought my processes like subconsciously there were things were holding me back out rather relearn and retrain my brain. And he got me on his books. I started getting into really Chris Chris give me one thing that you that you can remember right now that was holding you back just one of those things mob. Limit belief of a money scarcely money. I knew that. I knew I I feel like we're so reliable. I most of the things you were going through which which are values. Yeah. Yeah. Is that that was the biggest thing because I was like. Like innocence. I was I was chasing money. Alright in I was making it seem like money was hard to get in for a very long time. If felt like money was hard to get. But it was not hard to get. It was hard to keep because of my relationship with money. I. Oh, so so what what what did you implement a whether some of the exercise. What was the advice that was given the kind of help you work on this? I know something that you still work on earth for what some of the things that you started doing kind of change that. So add look at one of my other favorite books still day, another cheap investment. I read it every single year to keep just the ideas and just keep my mind afloat on it a secrets of the millionaire mind to our full powerful. Book a NASA, what started my journey understanding the relationship? I have with money is not going to work. If I want to become a millionaire is not gonna work if I wanted to become wealthy because I don't think or act like a millionaire. I think in act like somebody that's poor. You know? So as the money comes in I'm spending. I'm not thinking about investing in. I'm thinking about spinning it for pleasures. Right. And so that book, which was my mentor told me about was the book dad like, okay, you have. To stop soon as you have money. You're going to go by blowing in the club. You're gonna go buy new shoes, you're gonna go buy new coach, you're gonna get these things that I really don't mean anything you're trying to use it to feed your ego. Make you feel like you're import right? When you could actually take that money invested in business as going to bring you more money, right? You can still take some money out to play. Right. But don't blow the whole way that you get you should not get ten dollars on the deal and spend eight thousand put two dollars back into the business. You know? So, and that's what it was it. There was just understanding my Marlin show of money in how you money and realizing that it's just a tool there's plenty for a lot of there's so much money on it. And it's easy to make the relationship. You have with a high you use. It is the most important thing. Chris did you think that this is what we're going to talk about on the shelter? I. I'm so you probably not getting ready for all these wholesale questions and things like that. But now, this is this is what I love to explore because I think I think mindset is is a major major component of our success and how we can achieve success, and especially our mindset towards money. Now, I know personally like I haven't calculated in a while. But I know last year, we should tell people like I've spent over seventy eighty grand on coaching and mentoring and consulting like it's not, you know, it's it's one of those things to where Meyer returns on those things have been astronomical. So when somebody hears you say something like I'm spending fourteen grand on a coach like to me. I mean amongst us. That's like, okay. Cool. Like, you're you're going to you're going to see that as you're going to see that return as long as you believe that you're gonna get that. Remember, somebody out there is like what what are you? Why like so is this an expense for you? Or is this an investment like what how what is your viewpoint on spending that much? Yeah. Now investment like I'm in masterminds. That's been you know, five ten grand for on as well. You know, this is the biggest largest to one person that outspent, and I spend way more like, you know, my. Thing dollars to give him some twenty five thousand dollar mastermind for me. You know, I realized that first off the you gotta spend money to get around high level people. And that's like one of the most important things is either getting the mentorship for somebody or getting into a high level circle of people that are where you know, where you want to be. So me, everything is investment for me. Now this plant like I'm not scared to spend like you obviously want to make sure his value. Right. Make sure you're gonna get around a of resources and things, you know, the value is going to a see the amount of children spin. But man, I don't see any other way at this point. Now. It man and his crazy because exactly what you touched on early. I don't know if you touched on this because of this reason, but it's one thing I noticed you were talking to the people who had who. I mean, you went through like, I think it was almost a year to where you took you to get your first deal or can you to start kind of figuring out what was going on? But as you talk people, they're learning curve was so much smaller like, they would get their deals almost instantly. And you think about the fact that well the person they learned from went through a ton of mistakes, they went through China trials and tribulations. So what you're receiving from them as like the essentials. The this is exactly what you need and you'll be good. And you get your goal a whole lot faster because you learn from somebody who's already been two thousand six she could circumvent that. And that's what that's what we're doing with mentor. And so that man Chris beautiful salts now. Let's let's walk all the way up to present day because as we talked about your before the Minnesota, you wanna see where Christmas now what you have going on right now what is your day to day life. Look like today. Yes. So. Light day-today life is busy. But great it as in. It's only busy is. I want to make it. Right. So like the good thing is I have a team of we just hired to people. So three is about team of seven of us safari got color contractors and things like that as well. But like the way my life now is is is so like great because one or else they business today. Opperations I don't handle any of that. So have a team of acquisitions dispositions manager. I have a to be as and I have some other little contractors and stuff that was some cold calling things from you as well. And I don't have any day operations. Right. So one of the things I learned was like how to grow as you become a visionary or you are the visionary and you hire integrator. So I've done it with the that break we had biz Gomer still doing, you know, a couple of deals through three deals a month, sometimes more, but. During on average, while -tudios a month. And it's totally outsource. I don't do any task. So that's great my digital marketing business education. The side of the business has to next love literally. Like, it's crazy. I get sales in new customers every single day because a lot of money advertising, and that businesses totally passive we're bringing in about anywhere from one hundred fifty to one hundred ninety new customers a month, and is one of them because the money is great, of course, right in his passive source. Like, I'm getting paid for, you know, something I've built months ago, it's just continues to keep paying me over and over and over. But also, I'm helping so many more people I have a few clients that I have at work personally with one on one as well. And this phenomenal man to see like the growth of the business. Now, we're headed to hints of seven figures this year with with our digital marketing company, and I just been growing, you know, that with staff into putting team around it to the point where eventually. Not yet. But eventually I would say probably in the second half of the year. I'm not going to be doing as much work as I'm doing now. But for me, it doesn't like work. I absolutely love. What I I wake up every morning excited to do what I do, man. It's it's total blessed. That's awesome, man. I feel the exact same way you talked you touch on digital marketing company. So maybe let me just get some clarity. Maybe just caught onto a, but you have you have an online course. And then you have a separate company. That's a digital marketing company yet. None of it. Why I call it the marketing because a lot of products that sell like digital products. So. Education business. You can say, okay. Yep. That is awesome. That is awesome soul. Last one. I at to kind of round this out when you when you kind of get a personal experience from you or maybe exercise rights when you feel overwhelmed or you feel in focused or maybe you've just lost focus temporary. What did you do to kind of get yourself? Echina- linemen. Oh, the question soda, cutting myself alignment automatically. What I do. Listen to podcasts. I'm a podcast hosts myself if for me there are times where I'm like, man. I just don't have it today. So Joey what I'll do I used to like just pick up a book. But now, I love listening to interviews or listening to other podcasts. This talk about something Nashville, just AM. I'm this fire right now outcome ready to do. Right. Hit the ground running. You know? So that's for me. That's what I do the podcast that gives me sparked up hype too too tight on the day. I liked that. I liked that a lot. But for new win. I it's a new one that I've heard on the show. But now that she said I feel like I've I've probably done that a few times as well. I'm a big podcast person. I love this on a podcast. So I'm actually gonna. Check out. What is it? Call it. So we can all check it out. What is it called is escape the newbies on? Yep. Escaping. It'd be an escape the new zone dot com. You can take escape into real estate investing movies home, okay lifestyle design, acceleration hangs. What is your favorite before the millions book man, I have to say see the millionaire mind bone? Here's we've already talked about that enough guy. So you guys definitely check that book out. What is your favorite lifestyle design app? This can be a business app or tool vox are right now. I communicate with my team on there. And it's augmenting us boxer, man. Right out the okay boxer. Definitely what do you enjoy? Most about the way your lifestyle is currently designed probably the best thing is that I literally wake up and I'm not chasing money. So money comes in throughout the day every single day and the best part about it is that I literally wake up and say, hey, I don't work today, and I won't do anything. And I wanted to worry they money didn't come in money will still be generated, you know. So because of the passive -ness of the things that have gone on with the education business. So that's what I love is that you know, if I don't wanna work today. I'm not working today. I have a question that's not ever been me. But I'm just kinda curious with your experience, and what you've been able to do in your in your journey so far how what is your decision? What is your mindset on bringing up your your daughter? You have you was your daughter right after bringing up your daughter and this environment and keeping her that -bility. To choose whether or not she wants to go the traditional route, which is what she's most of her friends and people around her doing or she added sto initiatives to do something like this. What is how would you kind of been, you know, I guess like like kind of SP talking to her giving ice? I get it. So for me because she she has a little before time. And now, I have a son, which our son is wondering lizard me. It'll be interesting to see IS. But with my daughter, she's very turned ten this Sunday. I always talk to her about things that I'm doing and also give an opportunity to see what I'm doing. So she's youtuber she has her own YouTube account. She started broadcasting to videos and stuff, and she sees hey, my dad's to he's very known. He successful to herb. She thinks my dad's rich. So her thing is like, okay. My mom is like she has photo lifestyle. But with my dad is what I want. And so I am power to share with her this. I listen, you know, if you want to have this type of freedom, this type of money, this type of thing is that you have to be able to touch more lives, and you can only tell so much lives if you work at job, you can touch the world if you have your own business. And so I I gave her. This christmas. I get rid this book. I can't think of the name of the book off top. There was a book for kids like kipper, Noor in teaches kids how to make money how to be at your eight right now, different ideas. So she absolutely loved that boat. Like, I said, she has her own YouTube channel, she's really good at video editing, and I just allow her to see and share with her the things that are out there billable to her that if you know, hey, listen, if you don't want to continue going on the college lane school and things like that have a job you can work for yourself and your own this. I love that man. And listen, I gotta pay me that question because I put out a negative. You said you said something along the lines of how many people, you're helping do you? Remember that line? I want you to repeat it. Yes. So my thing is I told her that, you know, you can only put you can only help so many people in the world when you have a job, right? There's only depend on whatever your job is like if you work for McDonald's, right? You can only help them many customers that come into the business that day, we own a business of your own impact that you have in the world is endless you can help as many people as you want. But you just limited with the job. And so that's the whole thing is that I tell people if you I'll tell my daughter if you wanna make money now, you need to help a million people. Right. So that's the reason about owning a business that the impact that you have is so much greater. I love it. I love it. What were the sacrifices that you knew you had to make before the millions to get to where you are today. Man. I knew early on the whole mobile stacked up when I got my car repossessed. I knew those things were coming, and my mentor kind of pre warming on the things that you know, if you are. To go down this path that you're gonna have to take some losses. There's gonna be some challenges and things I'm there's times where friends ended up now hanging around a lot of times there's times where I missed opportunities where survival was a Miami. And I couldn't go because I had to focus on his business. Even time my family that was the sacrifice that I had to explain to them that was going to happen because I'd be laser focused on making this work. And I told her that this time we come half eight them that they happen. And so those are the sacrifices that had to put him in which his time or phrase family, and then just taking losses that come apart again for sure I I wanted to dive into some of that's some more. But we gotta go. Who was essential to your growth before the millions? And why outside of my dad and my mentor. I would say my grandma my grandma man like she in this. The reason why her tattoo on my arm is because like growing up. She always told me, Chris grandma's, Jamaican accent, everything whatever it is. He's only Chris be well rounded and used to always get me prepare for the world like she would. Game. She gave me in the manner. She showed me like. Would do job interviews stuff where she would have me lie act as the interviewer for a job, and she just really prepared me for the world. Like, she took me. Honestly, the reason why I love travels because her my first trae Rodman, I play ride at eight years old first trip to Canada at age at three all because her and so everything that she pointed to me growing up as a key all the way to the odor was what was like my big inspiration man and on Bet's motivation. And so like, I say, I'm where I am in life. Really because our on. I stopped 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 good question. I think a lot of us are stuck because sometimes there's there's a lot of everything's born. I would say is some people are not very clear on their goals. And what I may my that some people will say, well, hey, you know, Chris I want to make a million dollars. Then it's like, okay. Well, why do you want to make a million dollars because you know, a million dollars? It's gonna give me everything that I want, you know. The order things you want want to retire. My mom, I'm like, okay. Well, what if you could retire mom out making a million dollars? But what he's you know? So like, some people are just not necessarily clear on there goes like for me, you know, there's different ways to make as dollars. I never had an attention on building a business as twenty-five poise in office to make a million dollars. I know some people that do so some people are just not clear on their goals. And that's the not just be financially asked to be spiritually asked to be physically asked to be. You know, your lifestyle is clear on that. And everyone number two you have to hang around people that are way above you. I don't want to be in a road. All the time. Around the smartest person. I want to be the dumbest person in the room. So that's another thing is that people that are listening guys and girls. Make sure you find yourself in a room where you are. Person in a row that is a central to your growth and number three is understanding that listen there are going to be challenges. Okay. With this business challenges. There's a, quote, there's a mean that goes around it was saying something about probably could find it real quick. But it was basically saying if I find it, really. You might not be a fighter. Okay. But it's okay. But basically, it was just about like when the child is learning how to walk, right? And they fall down fifty times never once their child say this is not for me. So some of you guys have to stick with whatever is that you want to accomplish like me, I went through twenty six properties. I didn't close until I called. It's twenty seven four. It's always understanding also that went to six twenty six. Every time. I was ready to give up. But I did it. You know? That's the thing is understanding that you're just gonna come with Challenders. Right. You're trying to accomplish something that maybe have never been done in your family tree or whatever. Right. As does. This hasn't been done that is normal for most people. And so like the whole saying it was easy. Everybody would do it. It's not gonna be easy. So Kate continuing on and keep failing four and everything will happen. But don't give up the two year. Three year old. Don't give fall. I say I'm not going to walk anymore. They do it until they finally figure it out. I love it, man. I love the fact that you kind of highlight this at the very end, but she went through twenty six properties to expand may people would've gave up. S beautiful. So I mean what Krista saying he's not just telling you guys just to tell you guys. It's because it sounds like this is actually what he's done to be successful. So Chris, I love this so much now, let's just want to learn a little bit more about you. They want to know find out find some of your products or get to know your living. We're maybe reach out to you. Find some information. Sure, just go to my website escape, the newbies dot com. Check that out my blog, my podcast on you, get into my ground and honest up on there to check that out. Nice. Nice. Nice. Well, Chris again, this has been a wealth of information. And I know that I've gotten to various another listeners have gotten about you as well, man. Keep doing what you're doing. I mean, there aren't too many people like us. I mean, you see a ton of real estate investors out there. I'd everybody's pouring out. Now, everybody's point back into the community voice. Teach. My advice is talking about the things that they've done to be successful. A lot of people are just you know, you see people out there that are just flaunting and showing. And then they're not they're not. Oh, this is how I did. This is how you know solemn that you're doing I love that. You're that you're doing that you have this giveback portion in piece of your business. And that's why I would so until next time, Chris we'll talk to you soon. Man.

Mr Chris Miami Jamaica Tampa Florida partner New Zealand us Amy Porterfield Aaliyah Larry Home Depot Gina Lofton MC Laubscher Derek location
BTM153: Millennial Immigrants Build $57 Million Portfolio in 24 Months with Philip Michael

Before the Millions

52:50 min | 6 months ago

BTM153: Millennial Immigrants Build $57 Million Portfolio in 24 Months with Philip Michael

"This is doray alah. And you're listening to the before the millions podcast episode. One fifty three you ready to be the master architect of your life. Are you ready to design your business and invest the needs that create the lifestyle. You've always. 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 podcast. I am gina lofton. I am 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 millions podcast. Hey this is mark script the host of the seven minute mentor. Podcast global entrepreneur and all round Geek. And you listen to the before. The millions podcast. I am MC Laubscher the CASH LINENGER. And you're listening to before the million spot cost you're listening to the before the millions podcast a whether you're looking to invest for cash flow or built an online business that allows you to be location independent. You've come to the right place. Mr Hollywood himself presents the before the millions. Podcast now your host diriye wooded btm tried welcome to this brand new installment of the before. The millions. Podcasts. Help you are to win? Well hope you're staying safe and you're making it through these these uncertain times on today's show. I'm super excited to introduce you to Mr Philip Michael. Philip is an investor Masirah entrepreneur a high-rise developer a total times bestselling author and last. But not least a philanthropist. Now through a soccer fan. You may already know. Knock your major league soccer fan. You marry Enough Philip's nephew Martin. Breakway who arguably place for one of the most popularized teams in the world alongside his teammate messy. Who's arguably one of the best soccer players in the league and as the number one sport in the world? This is a big deal so Philip and Martin to give a bill to portfolio of real estate assets that are worth fifty seven million dollars and they did this twenty four months so kids born and raised in Denmark. Who had a dream in a dollar now? Philip and Martin had a very rich dad poor dad like upbringing Motive them into the individuals. They are today with Phillips Dad being an up and coming entrepreneurs time similar to rich dad and Phillips Grandma being a studious bookworm that constantly. Strive to make Philip more and more educated as he began to the side. His life's trajectory knowing Philip. I got to the USC. He came here in two thousand fourteen with about eighty dollars to his name and no work visa. So that means he cannot legally find employment because again. He doesn't have a green card. So this background. Philip was forced to persevere. Really get innovative and think about different ways to create revenue streams. Make money here in America without having the proper papers to do so now eventually he did get his ring card and he was able to have a lot more opportunities present. It's when but before that hit to get really creative and we talk about a lot of creativity and a lot of his early business ideas before ever really jumping into real estate. This start release sparked his mission today which is still closed wealth gap and by closing the wealth gap. His mission is to help. Over one hundred thousand millennials of color creed generational wealth so as a byproduct of that in Philip in Marlin store syndicate started to raise. Money starts to take down these multimillion dollar deals and gave the ability for the everyday individual to invest with them in these deals. So we'll talk a lot about about that on the show. But ultimately Philip used his superpower which is writing to get television to get into radio to create streams of income and then he ultimately leverage to leapfrog into real estate sold. Get into his entire story here on the show. We'll talk about how this relates to you in the disadvantages. Such may currently face and how to turn boats manages into advantages. I think it's struggling realistic. How to raise money and to cultivate a winning mindset when things are not going your way when the economy is down. When you've been working we get the week for results in. Thanks have not yet paid off. We'll talk about all that here on today. Show okay so I am accepting questions from you. That will be featured here on the before. The millions podcast. So I'll have an upcoming episode in the next week. That is a listener question and answer segment an entire episode filled with listener questions. And I'll be entering that so if you have any questions as it pertains to real estate investing as it pertains to be in the business owner or starting on your entrepreneurial journey send those questions to mitigate email which my email handle his direct before millions dot com says those questions to may be facebook. Our facebook group is over at before the mainstay dot com forward slash group or. Send those questions to me be instagram. And you can just d. m. me those questions over at for the main stock cobb Ford Slash instagram and semi voice. Message as it pertains to any questions you have about the corona virus in real estate related investment. Here on twenty twenty the different real estate investing strategies. How you can get started hiding. It started with no money down. I mean there are a ton of questions and I'm sure our circling your mind right now. Go ahead and hit me up yet. Instagram or should new quickey melt and get those questions in so that I can answer those questions on a full link podcast episode and I'm one hundred percent open to some good old personal question so I love telling stories and if you can bring a story at me. Those questions will most likely get picked. Here are some of the questions that came in so far. Is it possible to virtually wholesale from Nigeria? How can I make some quick extra income during these uncertain times? What are the different ways in which we can work with you? So I mentioned this. A few podcasts episodes ago those are some of the questions that came in but I wanted to make sure just in case. You didn't listen to that episode. Were didn't have question. Then what you've got to ten now that you get those questions in again. My instagram handle is derail. Or You could just go to Dot Com slash instagram. And get your question to be our listener question and answer episode to raise of the week as I decided to create tip of the week. I just realized that I don't know the last time I've actually talked about my Subscriber List so the individuals the members of the tribe. Get my weekly personal emails. I don't think I've talked about. The Guy talked by at least two years and I just realized as well but I don't even have a link to send you to if you wanted to subscribe to my email list so this is a good time more than ever to become a subscriber so crepe link now so if you had to before the millions dot com for slash subscribe you will be added to my email list so means you'll get my weekly personal newsletter. I got quiet through emails out this week as it pertains to insurance in. Saint about getting twenty percent off of your insurance bill as this episode releases here in April also in May I think. Insurance companies are trying to find their way to help out these uncertain times. Also talk about my thoughts and share my favorite resources as it pertains to the loan programs that are available through the government's so both SBA loan programs which are the P P P paycheck protection program and the L. The economic injury disaster loan as well. And of course the usual financial freedom ticks real estate advice that my subscribers my current subscribers absolutely love so if you want a little more soul of goodness every single week in short bite sized digestible easy to read content. Ben Head over to before the millions dot com for slash. Subscribe and you'll start getting my weekly email newsletter in that way to get to two of the week instead of just one on the podcast. I was get to the show and now your feature presentation. They'll have another project that had set up which got in the way because I could not leave the country so in Denmark. Were run from you get paid to go to school and you've decided to go elsewhere. They'll pay the tuition for you and then give you money every month. That's definitely do so. The reason I ended up in In Hawaii was there's this organization with a dual state cut deals with schools around the world. Where every student they prefer to get paid can pay like a twenty five hours. Denmark wanted ten thousand every year to study abroad scientists Happy Schools Ronald helped me. Hold me plates. These these students helping me set something up like little office of the different schools because all all universities are run by Up and they said Yeah. Let's do that then. I drove up the natural around schools. Wanted to pay to get these students want up now. Unfortunately I you know when you have this green car situation. Can't leave country now. That was a prerequisite. But I wasn't idea that I had had actually talk about data to do to try And you know the whole thing and never really got off the ground because we didn't go to go zone because I did. I couldn't come back two years to cut you so and that one time it was just a matter of hours because do anything back to where I choose which was writing in that eventually radio television and so from there but he objective all the Times always long games financial independence to again only buildings an Entrepreneurial grits so get ahead. When would you start? You hit your business success. We're bigger small big or small. I think it was when I with This real estate media company and start as an editor eventually became director running a large business department. Invent company sold now isn't it wasn't one of the founding members apart management and that was was excessive from their Renaissance High Woma I property which appreciated in value and soon as a sign of It got appraised at fifty thousand dollars more audible. South say that was that was pretty successful shortly after when with lead stuff on property that was his name being totally impractical ignorant to to the business of real estate just went straight common sense and as I will say that was that was about one time and then I got my green card. It was on the business soul covers building and got my grade cards. Where was two thousand sixty hunting sixteen so about four years ago things things really started to change? That's right that's right to strike from what? What was the writing on the wall? Michael with the first copy was okay. I don't want to have to pay for a mccaw so I I don't have to worry about anything at all so I can just sit back if that is what I will do. So in that accomplished deaths. I guess that was a big big win. Even though it was it was it was barely covering it but it was. It was right so think of success. The next part was just getting fed next stays like. How do we get this? One had three Barbara gets ten to twenty always looking ahead. See that sense Ralston again. Asset very similar story. I was I trying to figure out. How do I cover? My rant of mine are for us in our cycle let me by multifamily and immediately elevated all those expenses on all K- will scale this. What do I do next right? So what did you do next well if it is metric? A little bit of Year so I came into your two dozen fourteen. I really didn't have any money and one thing I was doing to get to get paid west. There's websites and taking guests articles of Best ones will be getting paid was actually writing. Saw it out of sheer were Shooting Sesame I had to win those into do wasn't even paying out on top of a hat to windows so gives. The Guineans might go a good good many. That's it because I was writing that sort when the guys who was also embarrassed. Us Employment Editor in Chief of is boxing magazine. Ray Magazines a former state athletic commissioner Middle Link Brock also broadcasting Edrich. He he doesn't hit me up to the show. There got it open up. Opening DOORS MAKES THE STORY. I was hosting television list. Then got me with a PR. Complete full circle with the media in Omega my hundred him week. Which less than I was making a student editor when I was back in. Detmar still just moving along. I have an ego just like a picture and I had already made Brian Todd. Only by I said I saw those candles in Atlanta. One thousand figure cheese Idioms we say ten thousand that wasn't even thinking about our I'd just had my bet realize. Fa thing you'll get the Dow and that's how we ended up doing that in doing the deal up here in Jersey City which is which is three miles west of the World Trade Center. So that's the answer to this sort of how that whole thing came to be and that's when that Seoul document one's always had like big picture glasses Sunday. Let go in from there. And She just scaled just like you said three Vincent District Scale. There were combat to building. Anglian dollar our complex. How does that happen? How does that happen? All right. So start small and I hadn't talked ending years. I hadn't seen what I was doing. It is no sound bad but sometimes you need to get to create new habits or if you elevate in to sort of level we have to get out of the environment you come from Beijing. You get energy does air Fees dining strip away. Tobe will be exciting. Not Very having only outbuilding is nothing New York whereas big a big number and then more simply because he knows I think one six point five arm when he is. Here's where everything seems Something really big seems Bagel with air so I had to get away from them and I realized it was the people over people doing. I'm realizing two arms and two legs is like I on top of that. I'm younger and I had to stop that. They probably didn't have to show so. I know I could do so. That's just came to get but in terms of actual Actually smoltz at interns. That's minimizing the phase. One would do me now. And how do we get in so? My nephew and I have always talked about Linda together. Skyscrapers again things like that. And my dad again. He comes back in Europe and in commercial buildings and but he's the toughest wounds you to get involved in things that age joe now but he came over to visit after we sort of like at connective. You know family two to three years. He came he saw. Because I asked you WANNA do real estate with no. I don't know forget it. Then it came and saw what I was doing. Probably think something together so he pulls together started buying on your Zalm. You're sitting in Philadelphia. But here's the thing when I had me come with my education coming from a very privileged country had a distributor eagle to school. Hustle grits nasty. The fact that I was a little of Limonov having to advise of having to win writing conferences otherwise street I realize that even that same exact mindset when the money together so why was eight Like make something very little like if you buy a piece of land building rights to maximize landing. We bought one property the hat to two bedroom apartment in a storefront but I did was. I got the building rights to build a tenuous instead so it triple in value. So that's an example or buying a piece of land. I said okay. There's one right across. Let's make it a larger devote so I even price was big without. Do scrap ore come with Basic Tech Startup Entrepreneur Common Sense is high price point. Why don't we do this? I'll tell you this now will develop new keep a twenty five percent share three action. Mine is worth of you doing the price you asked for. Adding thousands of housing scale like president Allah just like. How do you stretch dollar be or is it came in here? We are just how to figure out to make Do Very Little. I mean when I picture in AI powered. I'm no. I'm no what I'm thinking uterus. What what does that mean this? Is it so loud One thing so Denmark it's been ninety seven Tashaun since like two thousand two thousand one to two when I came here saw chat When people say cash only I was like the heck is just such a such a foreign concentrating and by that existing within Culturally I saw the doors allow processes that were very efficient for instance ax Now I know that people use a lot of eight organ ball didn't have rent collection Automatic here you go hand people. Money outstep stare and the property management aspect of things. It's like customer. Service in in in generally in America of notice is a little behind other countries other Opportunity to ask Nichols which opportunity to US. Saw pinpointed allowed. Businesses allowing is a run in terms of the building. Itself is just how efficiently run the shield to aquamarine buildings down key to keep expensive? Slalom is is part of it. Also property management is is part of it and like when you instead of having a caused by emails You just shoot an email to a system of helping if you're looking for party to go to there's always like Siri legged emails like Atlanta Gold acquired. It was going on tonight in respond back to you with a list of parties within a radius. Whenever you said it can be before you. So it's almost like a concierge. Row Person but his power by the terms of the whole is just an innovative twist and spin on Utilizing the latest acknowledged to make sure that it's because it's bill the people to live their young people. It's students is students so you have to. You have to meet them where they live. Which is author of their folds and so it only makes sense to do that. Everybody should do because. It's a disconnect between owners a lot of times and its users fences another example Irish get is right across another large. Friday is a bit of a walk to the to the subway. Not Too far. It's far enough to where it would not as enright checklist at somebody from big. What hap- so with this particular building Shows a bus goes every thirty minutes. That's so old school to me all. Se Is. I see this is still been because you have you. Have you have insurance staffing? You have gasoline all fuel that you have to pay to meet Stupid what I did instead is where it's like common sense what what are what are we. Shout solicit hey slightly cut. A deal will be subscription when they get five. W- what was it? We didn't link ten rise every week. No get a free ride to the train every working day and lake shore so people just the train when I needed to. 'cause they live off the phone and then it comes right so that was it was examples. It's just basic common sense and thinking like the end user. There's not a disconnect so this is the best example having less obey the technology components religious. Be where they are totally breaking? Which is doing a reasonable to be done. Right at sense makes perfect sense. I like that like that a I want to go back to your first rise. In what gave you the confidence to think that it was possible when I can see is constant in terms of raising money is that isn't as important APP traffic and the RETU- it's having the confidence and it comes from having some yourself you put owning the line. I and you figure out how to be respectful urge to do even as a small just having shown that number one you put your money on because we put only in the line. You have a family that you don't want to have that type waited is not somebody else and you just go right through. Vc WOULD ALLOW STARTUPS TO RAISE. Infidels are outside cavalry. Blow through a unnecessary expenditures. You can spider all day. Long is like little things where Okay arns eating marketing material people do or or swag if you will like the whole insurances dot net. I'll say okay Twenty five thirty percent off by this. But don't care if you showed you able to do well even small-scale with your own money that shows one shows responsibility to I had brought it to completion shows to discipline to to drink full circle completed number three. You're not asking for money to fund an idea. You ask them for money to scale should he? Just love is what I've done so far mile we team up. We can do this. I agree that that is all every single bit of it. Thank you cannot adequacy late once. I even asked my father. I said Hey. Would you like to come on his deal? Have to deal with contract. I need the money said Mill Allen. Stig another apartment. He he offered me to buy me out of a building that he said we at like. Seventy five percent. Discount like totally. It was if that's what it is a he he does not make and hasn't no and even then he saw that. I actually had again because remember your kid stupid stuff. So he saw the okay. I actually use small things like how to to get a deal. Signed a good deal could make money manager manager properly deal with the tense. Allow pieces to this that you did chew you know you just have to learn as you go along so battles what started it and then because we drove is so far if somebody comes in s we have another joint venture accessible to large European developers in the astronauts Besley estate. I said no no. I turned two times and I said you know. Come out the same because unlikely intial online taking our legs Clayton Kershaw. I because when she do then you claim people's you owe it to them in the top of seriously so that's really gonNA come from this transparency and honesty because there's things I could've done Gradient use lusted for notoriety and in growing problem faster than we should. But so. That's what I would say. This is about to answer questions but I think yes. Go back to confidence. Transparency honesty known that in show done it before with the only thing you did. You did a deal. Ming started bring warlocks exactly happened. And then now we're bringing a ton of people in riot where your mission you're on a mission to close the China? You're trying to get everybody on board. Is this important to you is why is a vital mission for wireless of Idle Valley? I try not to trauma best not to be controversial. Might have to edit this out. I don't know a whole victim mentality right all. I'm not doing well because these people distant all this happens me therefore I cannot accomplish this all I am young. This gender is color therefore I can't do this and people protesting nights amount of fan that energy I think it's all a matter of mindset and one thing that I've that I've learned. Is that the only difference between the demographics or the cultures are good generating money in those who are not is the compensation Table right so because we're not ruled. Move My dad when I was twelve and before before before that I was living I was living in the projects with my grandmother and was a scarcity mindset always issues with money this and that that came with him and I started learning different techniques tools perceptions about money on the other hand would my grandma. She hadn't really most languages read from the time when I was a kid. So she's farmer. Well read speaks multiple languages than my father. My father's reads a few few business books. He goes out the execute but it was a mindset things. Natascia outsmart your what she did knows how you apply so what. I WANNA do there. Is it away from complaining in about what's only does it? Just do something out of that all comes from the mindset of money and so sometimes asking how do you deal with? Assad's I'll speak as return places would tack raises us. It's might vantage. I usually D'Amato Levin. It's the best time to be a local or matinees because we're right at the tip recovering often. Eero rear young norse have created billion companies. Facebook Uber Airbnb so on and so forth so people with money older the most priceless commodity time. They cannot buy that all I can do is hope to latch onto the next big thing. They don't WanNa be all those companies got wiped out the chilling Hotels it's axes. That got disrupt. It won't be that so everyone would be up next week or next town. So that's one thing another thing you see people like you eighty Creepy cool associated. That were cool because they see a television. Is that make sense to you? That's how my veins and buy in. Let's say somebody's racist. Racism is discrimination is discrimination force with power. It hasn't been a power relationship. Somebody has If you own real estate and you're the landlord. They can figures ugly as you want other that they can make whatever one about. You still have paid rents so really to translate questions just okay. Let's get about skilled complain about. Whoever's president is or or student loan debt had to be started billund killer above the next generation comes happy so that's really trying to do even in our portfolio. And unless you do that you can go. Robin Hood can go wherever. He's at Amazon apple for like a dollar you. What I'm saying is open up the gate with come as cool. You don't have to just do it to start. Investing Clinton talk about someone. Instagram's is how you can do that. And Start Setting Foundation or you generational. So I'm thinkin one hundred thousand people again my cofounders. Ta The team. He plays on the day to day basis. They have eighty five million dollars now. He's naturally sports fans still is in with very little money having that many people that means these people eagles they find a partner a spouse or girlfriend boyfriend. Whatever who you think things to sing way. Now they're gonNA have children. They think the same night either. I think could change his whole narrative. But that's been a feels very obtainable in really may change and this comes with financial freedom. Financial Literacy fainted. Changing we think about so. That's why we do that. Even if it's a B as people with us or to somebody that goes starts investing start sitting at sitting that foundation foundation for themselves as an hour I wanted to get into is who is your co founder. And what is his writing on novice flying ends? It is. Who's your girlfriend. Or how'd you meet him half a meter momentum when he was born? He's my nephew using those of us. Were not soccer fans of expenses of your co founder. And His name is Martin Brathwaite. And he's really. We grew up his brothers because my dad blue. My grandmother in that was living with my sister in Austin so and then he was born seven years after week so we grew up in time he was little brothers any sort even on older to him. Our allies the trajectory of our lives parallel. We moved out at the same time. He got his first contract. I got into the city Mike. My Path was academics businesses wishes for and he made a ton of news. I think he was. He was trending big-name sports because he signed. F C Barcelona uses the largest sports franchise believe in Soccer's big sporting world speakers up sports franchise in the entire world. I within me in. It came out aware. Ns it shows a power. Ted Visualisation goal setting manifesting. Know that that whole journey about anyway. We've talked about this little about really wanted to go to leave his little Islam small town leaking from Hamilton. Golden buildings. You'RE GONNA go on the sports world we can do to get so mark breath play. Se Bars plays right next to messy disease Michael Jordan soccer slash football so. I said I just spoke here about. He was he's about the train had quarantine right now but he's trailing obese so we talk about very Previously everything together. It's within his society things and he helps with a mindset. How can we contain Louis? I can we do so that people. Can we do something like this anymore? We really want is louder. Like this in empower nickel wound develops in Africa Vince as But that's that's how we reduce feed that energy and then my father also causes the three of us he sorta as the seniority know-how in whole that offers As exactly what it is exactly because all listings you you read. A rich at seven was poor grandmother rich shopping and unlike its is against the written. A poor dad is like very smart piece Like that was and then you have the absolute reverse essence. I think you check them out. And this is handles battery. Underscored Number One. It's over while bilman focused or lost focus temporarily. You get yourself mentally back in alignment and at the health. What questions you ask as a really really good question and I have different ways that I do it. I go by my feeling if I I know what my natural you know like. If you have domino breaks all I know. My secret's czar. If I started one way it looks positive. Weather's not so I know. What are those thousands who cryptic what? I feel wealthed. Just focus is so important folks. One thing that really overwhelmed entrepreneurs out what I think is. Greatest gift can also be the greatest curves a creativity. related avenue creates. Wanted to get something off the ground. Most amount of the biggest roles so we think a so we should say is the initial Ideas or conception sort of dilute us think of actually doing so Will always steps acquainted completing a real work actually gets out of the way and that hurts rejected. You look back and go fast. The process day-to-day is like nothing. Happens right so allows people see an initial rush of something happens. We started budget Where I what I do I. Just what is the most support it and not waste my time? Any mental real estate anything else pettiness. Banalities nothing. Somebody hits me up about some gossip. I literally. I said I will block you forty dollars and and people does it you mean on safeguard spirit and you need to whoever making you do that to you. Lock them too so it was like this type of focus. You know. It's not protecting your focus in your engine that so that helps if I feel like there's so much you know feeling deflated one thing. I found a helpless cliches. Exercise will watching sue producer videos that we laugh. That woman by bracing comes up Tackle the project again sometimes. Just a simple is eating healthy food. Give you verse and so that Happens Sometimes. Just aw Being thing just to focus. Oj feeling focus will possibly by ration- agnes jure laughed and Dago. Awesome man and questions. It saw what questions would you ask yourself if you need to get yourself back to that place right and then again. I know one thing that I do that. That helps here on out for walks man. Just just going. It's almost like shower effect. I mean I come to your mind. And that's that's literally the most viewed that I have recently out taking a workshop right now yet by Mike. Butcher the concept but I'm going through going to notes and it's like a similar to what you said when you have a bunch of project should work until attack. It's just like how do you choose. What what are you attack or use smart or so there was a tool to Holland breakdown in east comedy to put a number in there from one being the least important five being the most important yet and and this is as far as I come. Or what the first one being the lease and five being. The most first album is like how much money are you make Pin Halls is how much. How much is this hitting? On your body's you're talking spending time with family. Let's say like a speaking engagement ten K. On the monies go. Maybe that's a tour. That's three out of five spending time with family. Since you have trouble you stay in the hotel your way. Maybe does wine so then told scores. Four let's say you're doing a Webinar and it's a three day Webinar or conference. Call that you're hosting to get questions answered for your next day. I building race or something right. The fee is twenty five but you can host this three day Webinar. This conference call from the comfort of your own living room or your own Home Office on the money's going maybe that's more of a four or five and then on the timing values scale and spending time with family. Maybe that's a four or five minutes. Well so that's eight so it before. It would be Super Harley literally last week on free products. I want to start to start withdrawing reporting which one it's like. I love all the Marlins to get done now. Obviously you need to have some type of methodology for growth. What's first what's next at nature but again I love how you down help. Even what the hell out here is good stuff when you sit there and see some sort of accident another technique that I use one thing that I did at one point. Is that to make sure that I hadn't had. This is sort of like more at least for me. Has a high degree of complexity is figuring out what mental blocks may be inside my head or whatever that could be preventing six to Things which can be in another way. Some people dispute failures. It'd be success. People have a certain you can talk about Pasta. Cereal themselves out because they want to expose it. They don't know anything for me. I'd say three to five things and everything listlessly ignorant racist. I like that. Shit so Abby questions have you WanNa stop us the research. I don't know just tell you design Larry On the other hand a technique that I would highly highly recommend is just sitting total silence. Toll Silence Lebron alone. No MUSIC SAID FOR THIRTY TO FORTY FIVE MINUTES. We can make it a forty five degree. A something is like is like is a technique that like a lot of the mocks. Tibet us at In this form of meditation really but after thirty thirty five minute mark you just feel all these Complete clarity as also the shower is especially now be short attention spans really tough to do. Try to discipline yourself to get through. A DAD would be at work wonders. You have all the answers in the Clarita Judy. It's like you're allowed himself. You allow yourself to get in touch with the way. All the noise just listened to provide divide. That's one thing another thing takle mouth all those people I'm bowling. You underestimate your lock. But those are magical. Lifestyle Design Acceleration Hanks. What is your favorite for the millions of the magic of thinking? Roy's bringing words and reset. Port added flower? We I think this is a good place to to rewiring line of all all highly recommended books of what is your favorite lifestyle design at this can be a business or tool this apper tool. I like asylum because allows you to run your business from your from your heard. Great things about sil- degrading have certain product. Listen to certain categories and you have like like you can have the. Fbi is an overarching goal. You'd have project Signs ECONOMISTS SWEET HIS ASABA WORKABLE. But it's like faithful Pan Dislike what you do to your netted. We will get for or for process Melanie. I used slack and base camp and Trello Asana a little a lot of our time. And so what do you enjoy? Most about the way. You're my style is currently goes. I may the we'll I'm happy about all of it to be honest like a few because it was a last week in London. A big thing plan. But I'll just lap in the house assault Were my dad was at his table. Usually sit around with sister was house. We sat there and just got sitting bare essence so even that was very full about everything in terms of the the fact that I can have some people that one person to people even now totally grateful to this because it's just a couple of people go out into by the Bison stock by stimulus. Did even the extra mile or not. You're buying extra problem talking about Kobe. Nineteen is his Co. wealth twenty like That's that's that's exactly what I'm happy about at this time. To to get crowded we can hopefully inspire To really so yes. That's what I'm having to do with and hopefully idealist. Whatever the sacrifices but you knew you had to make before the millions to get to where you are to eliminate reference illuminate. All my family eliminate Matola environment eliminate every sense of comfort. Pardon my my ego and pride among the people that know me they know if I get like backed into a corner person. I'm very stubborn. And that way being a bullied about stuff like that when I was in my position and it was something that was actually see Defensively over them environment. You have to deal with it because there's struggle I can this. There's never situation. So and that will. I have some good friends. Which is they said something that I didn't like us. And that's not good but be being that governing you so by sacrificing. All those things probably relations. Now I can control it and it's still me with. This is an example to sacrifice everything you hold dear Should be willing to ask for it. Takes because how bad were bad? News and a C-. A goal birthdays Nothin I was Motel Roach now. A method six versus the still stop Got Dan Skyscraper. Will WanNa be as well as the best? That's that's as as what is of a man. Living as part of this is not a thing I want to say here. Have you stated went through this and do that? I don't want to work on time with. This is that I won't. I won't comforted travel ACIDINI fullest Outage dislike sound. That how it sounds too. Because you don't get to talk excellence without absolutely version. You know it doesn't happen a lot of people to start podcast due to see the traction in all young doesn't happen without absolute version. It doesn't care what anybody somebody does. That okay cool. We'll play the lottery. Probably so that's what. I was willing to sacrifice. How bad do who was essential to your growth before the millions and why father my father and my nephew one is. My father. DidN'T WANNA I look up to a lot of things that he does and on the other hand. My nephew is being a Model for him to be a good example Now so that's sort of offer it like original generation now so Form ago like from ago. Echinacea this listed a energy. I Dunno busy to make such a smart me. Come on in one thing. Madonna's really really good kind character person and so that the Saint John's really really good business just on a small scale. He still lives in small towns that he actually exceeded most environment. And I really have underperformed compares again. He hasn't been Hannibal's years. But how many big if you was here So sedan is yes that that is that is inspires me? Denver girlfriend again just really amazing that I'm doing business with now because since I was that was that was of course my other set of parents. Which is Martin Parents? A mindless but really family really had mentors That nature but really goes to the essence to people even them. I didn't see three talked to so which is harboring time. So that if you think so many of us are stuck before the millions even though we have every intention of giving to help is is is just my two cents heater and as much as my humble opinion whatever you want what. I see is absence of patients. People think like Mike Tyson has this quote. Everybody sees everybody sees the glory. Then we'll see the story like all the as you got to ask so many times in so many ways you gotta get you million rejected beat out. Because the carrot comes from overcoming those sticks it sounds. Cliche is to just like you had to deal with when you went out there raise money. Think secret project saying that all property. Why does this translate into people giving money to the you know? That's like the hassle Odds against your own you know. Tell you the numbers from you call stuff like that. That's all character bogus. Then you get you get over yourself. You realize it's not that divas not personal and you just sold Toby with former they asked what would I do to become successful business? I think it's all of our job will give projected setups. A day is the eleventh as we start to keep to. Ego can take can be rejected two three times and start. Start something new. That again rejected two or three times. This starts some new entrepreneurs entrepreneur. You GotTa Really GonNa get over yourself stopping again. You just have to go go through a process even or visit. If A guy's Elaine. Okay go out go to a bar. Give reject the goal approach. Beautiful Women that you can get rejected. What did you get ten rejection and global go do some business instead because you got rejected by earls shots so now we don't care about like somebody say no thanks you know. It really didn't allow that obviously and go out and get like six scenes internship. Heikal star as we will be brutally. Beat up in by the Bayesian one thing. One thing. Tony Robbins does every morning is he. He submerges herself in a cold. Ice Water Jus- When he caught it. But there's certain terminologies that it uses what he just does that to make himself as uncomfortable as possible. And you know sometimes when I hesitate especially like when I was in sports on your in sports. Sometimes when you get to that Carlsbad unless you titus over. 'cause you're moderates over and this never gives himself a chance that hesitate. He does every single morning. So that business decision. Here's no hesitation. I'd definitely physical discomfort. I didn't feel of mental. I think I think most people jumping Obama jumping Cold water versus getting rejected. Ten Times a slight. But this is what I do cause he speaks to these people's issue about the discomfort. 'cause you noticed yourself yet. I was supposed to win when there's something we need to do. And what you think about it the more to do it. You don't give yourself time. Execute and people tend to over think since over over an wise gotta be ready for the way for writers so I loved. I liked the elected action. Right right right. I'd rather make ten goals. And he out Colt one young and I thought it was interesting. This is an amazing talk. Your journey we talked about. Your Dad. Sounds like you really took your your skill of writing conaway utilized African follow in essence. Beautiful listeners WANNA learn a little bit more about you know you have coming on. This may already be out until they can find some more information on new products that you have going on all that good stuff okay. All right explains I'll United Z. Y. F. W. G. B. is an acronym is why if w to be as instagram. And I also also owned media company as a similar model to the one that was with before but really the objective. We have media content yet every single month. There are whole right now back strong and it's essentially sharing where do the Bazeley conversations like this bring on founders that have recently nonsol- busily stuff panel get sued a bill that they're to one thing to see people in one of the? If you're you're media circle doesn't ask what you're going to become action by says you sprang. It was important for me to come here by by absolute actual Spoke Way Nature in the universe to become an accident that we try to create an environment where people could come in there and create an NBA part of the environment so grateful wealth lapping While DOT CO and there's lots of content. How best best in state things that is way to obtain financial freedom even write articles on there and as soon as we can find me on. Instagram. Anybody has questions. I'm very responsible near links that that's everything that Philip chaired. Today's episode. We'll be in the son of this podcast full of thanks so much for coming on the show.

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BTM103: Now Is The Time To Do Billions with Lee Kearney

Before the Millions

1:02:33 hr | 1 year ago

BTM103: Now Is The Time To Do Billions with Lee Kearney

"This is the right. And you're listening to the before the millions pad cast episode one. Oh, three Stig. Are you ready to be the master architect of your life? Are you ready to design your business and invest the needs that create the lifestyle you've always dreamt up 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 am an investor and you're listening to the before the millions podcast pay their money was Heather haven would marketing coach and global entrepreneur. And you are listening to the before the millions podcasts. Hey, this is Marcus crispy, host of the seven minute mentor podcast global entrepreneur all around a geek. And you listen to the befall the millions podcasts. I am MC Laubscher the cash Linenger, and you're listening to before the millions bought cost. You're listening to the before the millions fund cast a whether you're looking to invest were cash flow all building online business that allows you to be location independent. You come. To the right place. Mr. wooden sill presents the be four the millions podcast. And now your host d'auray. Joe was going on BTM tribe or back for another installment. Another episode of the before the millions podcast. A little bit too high podcast. Very, okay. Cool. So guys this week. We are talking to Mr Lee Kernan and Lee has a blueprint or he's well on his way to a billion dollars guess a billion dollars with the b and he kinda shares with the like behind the scenes like his blueprint to get to a billion dollars in revenue in his company. It's amazing just to give you guys a hint. His plan has a lot to do with real estate, but even more to do with mirror Joanna. But more importantly, he Sears what this his past blueprints and how he's gotten to where he is today in how he's utilized mentors in his life to propel his success that much further that much faster. So Lee is kind of our mentor on this show. Like, he's literally giving us blueprints for us to get from one stage to another and at the state. He's at now, he's. He still has mentors that are doing a billion dollars in revenue that are helping him get there with their blueprints. So we're gonna see this coming thing play out of utilizing mentors to get to the next level again lease or mentor for the show, and I can't wait to get into it. As he worked his way to a billion. Now, speaking of Lee work in his way to a billion one of my favorite shows, if not my favorite show currently on TV is show called billions, and this is an American TV series. It's on Showtime for those of you guys never heard of wanna look it up. But it's about while than influence in corruption. And all this good stuff. It's based out of New York. So basically, there's a US attorney going against a big hedge fund king, and they're clashing, and these I mean, these guys are resilient, and I am one of the craziest twists is that the US attorney's wife works for the hedge fund manager, and she doesn't work in any small capacity. Like, she's almost. Like, the lifeblood of the business. It's crazy. I wanna give you guys any spoilers. But if you're into this kind of thing this show is for you, again, the show was called billions one of my favorite shows. So I mentioned that Lee gives us a few blueprints. Right. And he teaches us even how to work with mentors often. See you guys may be guilty of this. You guys may see it yourself and be like what? But I often see especially on sites. Like bicker pockets, I see new people just hearing about real estate, and they're trying to get into real estate investing, and they'll create a post on bigger pockets like you'll see at least two three maybe four day that many of this exact type of post. Hey, my name is so and so and I am interested in real estate investing. I am in need of a mentor. If you're interested, please, call me at nine seven two, blah, blah, blah, blah, blah, blah, blah, blah. And I look at those posts, and I was just like man like you've got it all wrong, you've got it all backwards like I don't know of a single. Successful mentor scouring the net looking for post like this like, oh, yeah. This person's performance were let me mentor them. So anyways on today's show. We're actually going to talk about how to find a mentor how to approach a mentor, and what type of relationship you and your mentor should have. There are many many benefits of having mentors in every facet of your life. But more specifically one of the better reasons, I like having mentors is to be able to follow a proven system, I'm really systems oriented, and I know that with a system to get to a go any goal is achievable. So when I look for mentors, I look for mentors who have a proven system of whatever it is. And I'm looking to do whether it's wealth health or relationships, but it's a proven system that I can replicate and they can show me exactly how to do that. That's one of the most important things for me when it comes to a mentor mentor relationship in speak to SIS. Dmz? I love teaching systems. Right. Have a mastermind group. The before the man's mastermind group in this literally the highlight of my week people. Like, it is amazing. What we're able to do in this group. I'm working with other business owners entrepreneurs in the real estate space in like recently, we had a whole session on Email marketing because although I'm working with different types of entrepreneurs in my mastermind group. There are certain fundamentals are certain systems that would be behoove us for us all to really follow. So so recently taught in helped mastermind members implement a Email marketing system, so as you guys know or may not know us convert kit rolls teaching them, how to set up their image count campaigns show them how effective now with phishing Email marketing can be as a component of their business. More importantly, how important it is to have e mails for all of your clients. All of your customers and stay in communication with these people here. The next week or so probably after this episode actually releases. I'm getting ready to show by mastermind members how to build a CRM system or CRM database for all of their various clients customers than sellers buyers, and I'm excited about this as well, you know, meet with my mastermind every single week virtually online in every single week. There's a new topic or challenge that we're tackling based on what my mastermind members are facing in their business, as I know in as many of you know, the fourteen is in the follow up in many businesses. Right. So not always on the first contact or you're going to be able to get that sale or you're going to be able to buy that property or you're going to be able to get that client. So if you haven't impeccable follow up system than you're a lot more likely to get that second or that third sale a month or two or three months or a year down the line. So in an upcoming meeting that we have going to teach my members how to create their CRM. And then once they create their CRM, I'm going to show them how to use this app called sappy yer to automate many of their processes, again, this is a system in the system has structure in when you implement a system or structure from a mentor who's already done it before. Then you're gonna get success a whole lot faster. You're gonna have a whole lot less headaches. You're going to spend a whole lot less money. And you're gonna have a whole lot more fun doing you'll have a support system behind us help you the problems that you do have it's amazing now currently membership to my mastermind is closed, and it's been closed for the past two months here in the next few weeks. We're going to get ready to open a backup for maybe a week or so so if you're interested you probably wanna head over to before the man's dot com forward slash mastermind. If you're interested in this personal masterminding relationship with a me, fellow entrepreneurs. Now, these entrepreneurs are either self employed or they have. Their business on the side, and they're on their paths to full-time self employment and that is a requirement. So if you are not yet one hundred percent, self employed. You must be on the path fulltime self employment through your real estate related business. And if that's you head over to before the millions dot com forward slash mastermind membership is currently five hundred dollars per month. So that automatically eliminates those people who are dabbling the people who are on the fence, the people who are not really sure of their business model people who don't have a proven system. So my mastermind this mastermind is for existing businesses. Whereas my workshop is for first time entrepreneurs first time investors, existing doesn't mean that you have it all figured out. But it may set you have a proven business system you've had at least one or two clients or customers. And now you're looking to actually grow that we can help with that. What I will tell you. Is that the value vet you get out of being around a group of peers such as this group and the insights that were providing for each other in the connections in resources in applications and teachings it far exceeds this value Mike month after month, no questions asked. So if you're interested again head over to before the millions dot com Ford slash mastermind. Okay. So let's go ahead and get into the meat and potatoes of today show. Let's talk to Mr Lee Carney. Let's figure out how he got into the fixing in flipping game in how he's been able to flip over seventy five hundred properties in his career. Let's go ahead and get to the show to raise of the week. So practice paying it forward. That is the tip of the week this week practicing pain Ford wherever that is right. I know that I've had a ton of people over the past few years. Pour into me for one reason or another for no reason at all that I haven't been made aware of to this day people just taking out time in their day, or or offering me a system or service or connected me with the right person or just allowing me to ask or inquire about things that I had no idea about, and I think that actually all of us have this thing that we all have this ability. And I think that we all do it in some form or another. But to put it top of mind for this week's to the week, the act of pain at Ford knows something that I love doing. And I know that when I'm down arrived when I feel like things aren't going right in my. Business. I often try to take the onus off of me, and my business and not try to find somebody that I could hope and I find that when I perform that act of paying it forward. Men it lights up a fire in me that allow me to know that first and foremost everything's okay? And that my problems are so much more smaller than the problems of the world. But second off I still have the ability to make an impact to make a change in somebody's life, and that is powerful. So in your scenario. I mean, what can you pay for today to anybody to somebody what skill or trait or expertise? Do you have that you can pay for it? I mean, what are you doing a your profession? What are you doing in your industry that you can easily pay for it to somebody that may take an hour or two hours or a day of your time? But that it'll mean a ton in somebody else's world. Maybe your personal trainer and you're going to create a game plan for somebody who. Who's not a client for the next two months? And you're gonna give them their exercise regimen their eating habits in things of that nature. I mean, you're gonna do the whole shebang for them as if they were a client. Maybe that's just something that you're gonna do for one person today out of the kindness of your heart. Just some pro Bono work paying it forward. Right. The fact that you've been blessed to have your business, and you've been blessed with the success that you've seen till this day, you know, when old acquaintance of mine approached me with this similar proposition, recently, he wanted to create a personalized workout plan for me. And this situation was more of a business alliance. Right. It was a strategic targeting for me because of the relationship that he believes that we can build and again, there's absolutely nothing wrong with this, very smart. And I encourage you guys do this. I implore you guys do this create business alliances. And you know, you give me a free workout plan. And I ended up doing it. And I love. It. And then I tell more people about in there for you get more clients like that's how business relationships reformed. So there's nothing wrong with that. But what I'm describing here is very different. So I'm describing pro Bono work work that you do for other people. So creating that personalized gang plan or strategy or whatever it is. But for somebody who's not in a position to help you for somebody who's looking for this exact thing who has a problem in that you're able to solve it which your skills, which are efforts, which are work. So again, I wanted to distinguish between those things not saying that strategic business alliances aren't wrong. But for this tip of the weekend for pain forward, a want you guys to target people who are maybe not in the best position to help you. But you're doing this kindness because you're paying it forward. Maybe your mortgage officer, right? And you know, somebody who you guys have declined or wasn't able or you know, somebody that wasn't able to get alone. How easy would it be free to? Just take that person under your wing and help that person out in, you know, the the tools of the trading, you know, exactly what they need to do in how they need to do it. It's one thing that just kinda give them that direction on a single piece of paper. But it's never thing to for the next few weeks. Hey, let's check in once a week. And let's get you. Let's get you to a point to where you can be approved for this mortgage. Again, it's not something I have to do is not in my job title. It has nothing to do with anything. I have going on but paying it forward. I know that the something that you really want. Here's one thing I wanna do. So as a byproduct of before the millions, my educational company, I have different platforms such as podcast, and with these said platforms would come a certain level of expertise with some of these platforms because again, they're byproducts of my educational company. So in order for me to have a podcast. I have to have a podcast as a has have started a podcast hat to produce a podcast, and I've gotten to one hundred and something odd episode. Owed. So I may not be all that experienced. But I know a thing or two about podcasting. Although this has nothing to do with real estate. This has nothing to do with lifestyle design. I'm feeling like paying some of this knowledge for like, why not I haven't in my mind. I have it in my head. It's no use to only just me. So let me ask you guys. Is there anyone of you out there that want to learn how to start podcasting? If so I left to help you like seriously, just send me an Email. We like, hey Duri. I want to start a podcast now again, I don't want. Everybody emailing me just because it sounds like a cool idea. Like, if you're somebody who's already been thinking about this for a long time of maybe you've are you've actually just got started. And maybe you're about to start like you set your mind to starting a podcast. And this is something that, you know, one hundred percent that you were going to do in twenty nineteen or the next few weeks or months, if you're that person, Email me, and if most will people Email me, I may pick. One person or two people, and I am going to help you start your podcasts. Why no reason at all? Just because I know that I have the knowledge and expertise to help you do that paying it forward guys. That's what the tip of the week is about. So think about how you can pay for think about some skills that are not necessarily in your direct purview. But you acquire those skills through some of the things that you do, and you know, that other people could really benefit from having such a skill set. You never know what could come out of that. You just never know. And if nothing at all nothing at all came out of it aside from the gratifying feeling of helping a fellow human being get to their goal or create something that didn't exist before that in itself could and should be enough motivation. But what whether something did come up this something bigger, something better. That would be crazy. So let's get to the show. And now you're feature. Presentation on today. So I had the art yo rockstar. Mr Lee, Carney, Lee. How's it going today? Gun grade going gray looking forward to get back into things after the holidays already shot at a cannon this morning. So things are going. Well, I love it. I love it. Luhrmann talking to you from today. Tampa florida. Nice. Nice nice. Is that also the market you invest in invest actually nationwide now, but our home our home base. Our corporate offices here in Tampa. Nice nice next. So guys for you guys. Don't know leaf flips about fifteen twenty houses per month and Lee started investing in two thousand four right now, we're averaging between thirty and fifty thirty and fifty. So would the info have on us out outdated to double double what I just stated? That's amazing at this at this point in time. And this is probably out betas. Well, but you you've bought and sold over six thousand properties. I mean, what's the current number now about seventy five hundred deals county? Mike, goodness, we're gonna get to all of that shortly. But we want to take it back in time time machine. We wanna talk about the inception of Mr. league. Horny it all of this kind of begin take us back and tell us when you started considering real estate why why real estate in wars some of those initial thoughts. Sure, I'm even gonna go step further back than that. Which was one of the first questions I asked my father about thirty about thirty thirty five years ago. I said dad what's business, and he said, well, son, we buy low, and we sell high the my next question, which I was actually really proud that. I asked them this. I said why don't those people go buy from the same place. You do he said, well, they don't know where to get it in. So right then early on. I was struck by business. I thought this is incredible. You buy low you sell high. I can do this. And so as a young kid, I was buying Zell anything that I could Bilo itself. More money. I was a little cave coming to school selling everything under the sun. So yeah, I went straight pass eliminates the end that just went to just sell anything that could make money. So I was always buying selling cars and trading just bikes in whatever I could to make some money. So I loved the idea of biz. Early on and real estate was funny. I got into that by accident. So about fifteen years ago. I moved back to Ireland supposed to take over my father's company. Things didn't work out. They looked at his partners looked at me as a college upstart. He thought he knew too much in. So I said, you know, what this is not for me. I said I wanna do my own thing. Start my own company. I wasn't quite sure what I wanted to do. I just knew I wanted to do something by myself. So I bought a condo about a month. Acura, bought it got broke into this is terrible Salva's place. Most funniest I cash down about ninety days start to finish made about thirty five grand by accident on a property didn't even want. So said, this is the easiest money. I've ever made my entire life said advised that the job of the time was probably pretty similar to what I'd cashed out just by buying and selling property. So I was smitten right there with real estate. This was back in two thousand three. So I decided to move back to the states move to California and one of the. Things I did was found a mentor. I didn't know anything about real estate. I just knew that you could buy and sell property make thirty five grand in my mindset. I'm thinking if I did this by accident. Imagine I actually tried to do this. And so I found a guy want the church with bought sold properties. And I asked a lot of questions erode around with melodic. Just try to help them out with his properties and cleaning up making up aerials and ask some questions along the way, I know later on you're gonna ask me about books and stuff, but one of the primary ways I've learned is by sitting down with people smarter than me and asking a bunch of questions and listening. I spend a lot of time listening to people. There are lots smarter than me. And I'll be honest with you, I pick up more than our at lunch or dinner with someone who's one hundred million dollar plus person than wood reading twenty bucks hundred bucks, even because do airing a straight from the horse's mouth how they're successful. How they continue to be successful. What kind of habits how they look at business in general Halley look at the world. In fact, one of my mentors. It's funny 'cause I see the stock Mark getting a little shaky again. And he texted me the day in two thousand eight market hit bottom and said the bottom the markets hit bottom like how do you know this stuff? So again, I try to surround myself with people a lot smarter than you. And I chatted before the show by get back in the gym and stuff like that. You know when I've hired trainers in the past. I want a guy who looks exactly like how I wanna look to train me. I don't want someone who's huge or small or out of shape. I want some lane athletic can just looked exactly like I wanna look. And so I try to find those people when it comes to business and in my mind, businesses way, bigger than real estate real estate is a great stepping stone. And it has been for me. It's been a stepping stone to invest in all of the other things that I do that's where I've created large amounts of money to be able to invest in alternate businesses outside of real estate, but getting back at to find a mentor so back in two thousand three men California done my accidental flip. So now who are fast forward in two thousand four it was a lot harder than I thought. I. About four months. Driving around looking at properties went to college day later Naff unit. Start driving properties for four months. I drove properties. Finally, founded property was a pro bass, though, this little nice old agent really really patient with makes me four months to buy one house was about one hundred thirty thousand dollars at Sicher are hard money on it. And so close on the property made by first big mistake, by the way, I moved into the property. So I tried to fix the house while living there. Absolutely terrible idea. I got electrocuted plumbing problems almost had an antenna fall on me. I mean, just the create anything that you think could go round the house went wrong. So finally at the end of the rehab. I get so annoyed. I just paid a contractor to finish it off. But Mark was red hot. I made as actually the deals right outside my office. And it's one hundred thirty sold for one eighty four netted about thirty thirty five grand. So now, I'm two for two. So I'm thinking man, I am rockstar. I am like just at the peak of the mountain here. A valet Midas like everything I touch maternity goal. So then I made my second and third mistake all on the next house. So on the house we really quick before we get to those mistakes. I want to interject something really really quicken. I love that. We're able to kind of go down time line in put put a pin in there. Put a bookmark in there really quick because I think those are going to be super valuable, but I wanna I wanna kinda touch on some things that you've already highlighted that. I kinda want dive into just a little bit. You talk about the value of mentor. You talk about some of the things that you're looking for when when it came time for you to find the mentor that you were looking for mentoring. It's easy for us to be like, well, this is what I want out of minutes. This is what you know. This is the type of value that I'm looking at you know, I want my body would be like this. I'm gonna look for somebody has that. Well, I I had listeners out there that probably like it's a whole it's easy to find somebody to emulate, but how do you get them to mentor, you how do you get to work with the you mentioned that when you first started you were riding around which events were like he kind of. Under his wing. And you know, I don't know if everybody has that opportunity. So maybe talk about some of the things that you did if whether you have to pay your mentor, whether you have to find some way to add some value to that mentor. Whether it was just like, hey, can can I take out for coffee. I see a lot of people doing that these that the most effective way to do things. Just trying to talk about your experience with share. But it comes to super high net worth individuals. I found the best way to make it in their circles to start doing business with them if you can do business with them they make money that's a good way to establish that relationship. I've definitely found that it's a lot harder. Talk to Diana's worth one hundred million dollars than my first mentor, which is a guy who happened to flip a few houses. And by the way, it was a super nice guy named was Greg. Just really just nice helpful. What I found is if you can right out the gate saying I want to pick your brain. Like, I I don't really want people picking my brain. That's just sounds kind of weird. So I'm whenever someone says can I take you out to coffee or lunch and pick your brain Mike now like I never want my brain picked. So that's the absolute worse way to approach me. Me. But I do try to help people like I was helped. I never forget where I came from. I didn't know a thing about real estate. So you wanna make yourself be approachable? Nice non-threatening. I like the fact of lunch or dinner because of the fact people gotta eat, and if you're offering to take them out pay for them for meal, I think that's a reasonable. But I I don't use words. Like can I use you for an hour? Because that's basically what you're saying. When you say pick, your brain just say, I try to approach people saying need some help them this topic. You know, I'd be happy to see if I can do something to help you. And I try to always lead or I can provide some value them and not just say that because that's what people say in. It's kind of the cliche. I try to do a little bit of research in figure out is there something I can do. I've had people approach me all the way from, you know, offering to do free services for me to learn real estate. I mean, just around the gamut at this point of. So I've seen how people have come at me. What's attractive? Typically, someone who's just humble and his asking a couple of questions and wants to get a start in real estate. It's hard for me to say no to someone like that at this point. It's a little tougher because of the educational platform. I maybe ten people day he'd like that reach now. But I always try to be nice and respectful. And so I'm actually I've been on both sides of that soda. It's interesting question that you ask. But I think that what you don't wanna do is be aggressive in pushy. That's what I would say not to do 'em being approachable in humble and really trying to listen to that person instead of trying to talk a lot when you're you're in a room with someone a lot smarter than you the best thing you can do is use your two years and not use your one mouse. And really listen to what people have to say I found to the people like to talk about themselves. So I try to ask lots of questions about that person at about their successes and things that they're passionate about because what you'll find is most people in the world want to talk about themselves. I mean that not in a bad way. It's just been a fact that I. I've noticed in my life. And so I try to ask people lots of questions about themselves get them to open up, and then I try to learn from that. But I'm trying to say, hey, can you teach me how to make millions like you? I mean, that's, you know, most people don't want to be approached what made you successful. You know? What's the biggest lesson? You learned what's the big single. Biggest thing that you as driven your success in. Visit. What's your biggest failure? You know? What should I avoid because you you've lived through it you've done it. You made the mistake. I'd prefer short in that curve. And really learn from you, you know, be really appreciative of those people. I've found that you know, send me a follow up Email something like that. Thank you people. You'd be surprised how many people have approached me in the past and come in for something. Then you never hear from them. Again. I try not to do that to always try to follow people always say, thank you, always say, please. And you know, basic manners that I was taught as a kid I try to translate those into business. Just try to be a nice person the deal was no one wants to deal with a jerk. And I. Can't fix that. For anyone out there. If you're a jerk, I can't fix that for you. But what I can tell you is you need to focus on being a good person inside of business outside of business Lee, someone that people wanna do business with people wanna do business with nice people mean, whether you're buying a house or any other business deal with the contractor dealing with it one of your employees at the end of the day. People are dealing with people. They wanna deal with nice people. And so there's lots of choices in this world. And I try to always be someone that people want to do business with and that's something. That's a very core. Concept of mine. I try to enact that event every single day work myself work on the way of top to people try to be nice try to be approachable try to be helpful. You know, I did a lot of route study in college over certain servant leadership than the big point about that. Is you serve your customers? You serve your team. You're out you're leading by serving. And when you business like that people are attracted to that people want to do business with people like that. So. So, you know, for anyone out there, yet don't be afraid to ask those questions. Sometimes you're going to have to get inside your comfort zone, but you know, with a high net worth individual final way, you provide value them typically doing business with them is a good way to do that one of the easiest people to learn from someone who lands he money, if someone has enough money in free capital to lend you money, they probably know a finger to about business, whether they're in real estate or not. So a lot of my mentors come from people that lend me money made their lending me ten twenty million dollars. That's not all the money. They have. So they can definitely teach me a thing or two about you know, how they made that money whether it's real estate or any other business how they grew that money how they kept that money how they kept the government away from that money, and how they have that much capital to land out people like me. So I found that lenders are Hugh private lenders have been a huge source of education for me because they have they have gone the full cycle of making it and keeping and continuing to grow. Oh, that's interesting to me as an investor because the world's much bigger than real estate. So I wanna know I really wanna learn from people who have tens of millions of dollars in free capital and learn how to to keep that different markets different industries and different points in their life. And they still have that amount of money that that to me is super dress. You had so many golden nugget from their able to take away from a lot of that. Because I mean, finding that initial mentor I think is kind of key because it's all about that. I thought about the momentum. So if you guys were able to kinda put yourself in the position, add some type of value do deals with these people think that's gonna take you above and beyond. Now being in the position that you're in that your time is now limited and perhaps because of these educational programs platforms things that you're doing now in your space. How do you what when it comes to people who have always known you even before release people who are like the that? He does real estate. So let me just hit him up in pick his brain about this that in the third. And a find that happening more often than not these days, and I'm just like, okay? Going back to filtering going back. So first off knowing how much valuable my time is now I'm just like, man. Like, how do I say? No, do I say, no, do I help these people. And then knowing that ninety percent of the people that I'm on the phone with anyways, I spent an hour talking to your two hours going out for coffee with you. And you don't take the action. It's almost like what am I doing this for, you know, so so so so you've probably been in similar situations kinda of yeah, I got so much at their first of all I would say, I'm probably going to give you a different answer that you're gonna hear from some of your other guests. I don't believe your your network is your net worth you know, I completely separate business and my friends if I grew up together we played in the schoolyard together near still my friends day thirty five thirty eight years later. I'm good with that. I don't care how much money you have. So so you're if you're my friend, you're your checkbook, your Bank accounts your net worth has nothing to do with my willingness to be your. Friendly continued to be your friend. So I guess to answer your question strictly one of my friends needs help they call me at midnight in their cars inside of the road. I'm going to help them because they're my friend. But now when it comes to business and someone who has learned of your success, and now suddenly wants to be your friend. I think that's where there is a different line there. And so what I typically do at that point some cases, they'll give away a product for free to say, hey to my team. Can you just give access to this course, or something along those lines where a not, you know, investing in? I hate to say a fake friendship, but you know, a new friendship and wasting business hours on that new friendship because I agree with you your time during what I call working hours, which for most people is nine to five nine to five Monday through Friday for most people in this country is typically when deals are done people are talking business. And so, yeah, I'm not gonna give up two hours of my time for a new friendship to try to discuss business. But if you're my friend like I said, I'm gonna put you in the same category. Like. With anything else? My friend asked me, always put my friends. I and I'm gonna make time for the weather's business or not business again that that's my answer on that. And I really just I don't like the idea of your network being your net worth because I think a lot of people fall into track then where they just try to throw themselves with successful people and kick their friends the curb because they're broke m I prefer to bring people around me. I mean, I just have never subscribed to that that thought process, and I hang out with plenty people in business that are super successful that might broke friends are not going to bring me back down again. I don't care my friend over. Yeah. Yeah. I know that's probably not the textbook answer. But you have that I really wanted to give you my personal opinion that because I'm pretty passionate about that. But totally makes sense. I was even thinking about some of the people that you may meet meet up. So you know, you run into so many people these as in, you know, soon as somebody hears about what you do. And you know, how much success you've had? Oh, well, let let me do you mind if I take out for coffee in how many of those? Yes, I know to in you know. You're just like straight up. Nope. No. I can't. I can't do it. But yeah, I mean, I told you my schedule for you on the show this week. I mean, when I say, no, it's real genuine. No also comes time to spending time with my son is scheduled at time. That's important to me. And so yeah, you try to bother me during that time. It's hard. No. I mean, it's just not happening. That's his time. You know, he's he's only going to be at this age one time, and he's growing up every single day. So I try to really understand what's important with my time and during business hours, especially on here at the office because now with my schedule in teaching doing all sorts of other businesses that were working on I travel a lot. So when I'm in the office, and if you could see by turned around and show, you got six screens here in front of me. This is this is command center. So when I'm at command center at my desk. No phone calls. No, nothing. I'm just a really really focused on processing a lot of work. And you'll notice if you get to know each other a little more allowed. The times we'll talk on the phone. I'll be in the car learned that from one of my mentors that he was always in the car. And I said you're always in the car, and he talked to me. I was joking with me goes. Yeah, I just say all my phone calls and I'm driving because there's nothing else. I can do. So therefore, make all my phone call. So now, you'll get calls me on the way to work if I'm traveling to an appointment or after work, but you'll you'll never get a phone call for me at the office. And so I've tried to learn from people that are smart really good at using their time. And unfortunately, I don't think you're being mean, by the way, I mean as someone as nicely as someone can say, can you do this? You can be very respectful and say, no. And I don't think that that's me. Now, if your holiday in Aragon in the way, you say now bist because you might have a few more bucks in them. I don't think I don't think that's appropriate. Because ultimately, I made a lot of money. I lost it all again had to make it back tenfold this point. Which is, you know, thank goodness. I learned those lessons Jin repeat the mistakes. But man, I my pant socal my pants on the same as everybody else in. So I. Been on both sides of that. And try to always treat people respectfully. So that's what I would say to you. You can say no just do it. Respectfully, by the way, your business a disservice. Especially me I've gotten entire team. I'm doing my business a disservice. If I'm wasting company time for one thing kind of popped into my head, and maybe something I may try in the in the short term future because I am starting to get a lot of people just out of the woodworks. Hey, thirty minutes or every time in our time. So what I'm gonna do? Try similar to that to that. In the car. You know, making calls to try to block out maybe two three hours a week. Maybe on a Friday to where it's just like I'm gonna label. It pro Bono time every time somebody asks me like what have you ever look at oath drowsy week in the moment. Start session, fifteen thirty minute blocks of time to were here. You can have this thing of this time. And once that that Friday, those two three hours throat up they can once next Friday. So I can have a consistent stream of helping people, but I have in a section off time. And that's a great idea. One of the things I thought about. Doing starting to post on Facebook going. Hey, you wanna I'm gonna beat the small group of people, you know, for lunch Amemiya this restaurant in that way. Then you got five or ten of those people who have questions on that we make better use your time. What I found is most of the questions are pretty much the same kind of questions, but still it's small group setting. You're almost as effective as one on one that way, he gets to do a service to them. And you're you're being smart with your time too. So it's funny. You mentioned that I had that on my task close to start setting up. A, you know, hey, anyone wants to grab lunch? I'm free from this time to this time answering your questions in that way. Then to get people in my local market. That's a good way to do that. I'm trying to do more. Facebook lives, a lot more education is very rare. You'll see me Sal on those things I'm just I'm just trying to provide content and show people. Like, this is what we do. I'm not someone who teaches real estate, but doesn't do it. I'm in the trenches doing this every day. And just like we spoke about before the show. I've graduated from doing one deal to close. Over two hundred miles in the next two weeks before Christmas. So I really really focus on doing. Exactly what I'm telling people to do when I learned something new I share that. And so I like your idea because I was thinking along the same lines. How do I not say note all these people and Mike group lunch was was my wave of overcoming that? I love Alabama. I'm sure we'll talk more about that a little bit later in the let's get back to some of some of your earlier mishaps your two deals. They wanna maze. You may thirty thirty five Grammy you're on top of the worldly. You're feeling great. You're looking great. You're you're starting to really put things together put things in perspective as far as what you want out of your real estate investing journey. What happens next? You're you're getting to some some things that didn't sound. So it's what kind of happened next. Sure. While so my first mistake was rehabbing house. I lived in only because the market was hot. I still made some money. But it was a terrible idea. The rehab took three times longer than should have on my second house. I made while my second purposeful flip, which was actually my third deal. I made my second and third mistake. Number one. I moved from California to Florida. So I try to rehab it remotely bad idea starting out. And then my third mistake was hired a friend to do the rehab terrible idea. So when you find you start paying your friends, we do film back earlier conversation, friends or friends businesses business. I felt I found that to be a very gray line. It was tough because the project took about six months to do maybe six weeks worth of work, maybe four weeks worth of work. And because it was my friend. I couldn't really say anything. Now, I skated out the back door and that deal made somewhere between ten and fifteen grand. I felt like I got away with a slap on the wrist. And the Mark was just starting to cool off a little bit in California. So two thousand five moved back to Florida Guthrie deals under my belt. You know, I'm up on all three sale. I'm still feel on top of the world. So I started asking bunch of questions and finally found out one of my friends. Her father bought the foreclosure. Option. So my question is I mean, this is how elementary question. What is the foreclosure auction was where the banks foreclose on through the county where is the foreclosure auction? So I got past all these questions than showed up in the courthouse was like a used car salesman convention was the best way of describing all these people look at each other in person knew this person. And I watched him for about two weeks. What was happening? It was funny. It was a bunch of numbers being auctioned off. And they there's people probably listening to this laughing. But all that was being auctioned off was case numbers, no addresses and people were bidding on it. And people are looking each other. Everyone seemed to know what was going on except for me. So I asked a bunch of questions like what are these numbers or their case numbers? What do they relate to the defendant's name? They showed finally this ladies that. I have a book night. Turn those case numbers into addresses until you what they are coming up. My this is amazing chief into title searches and everything so I bought her book. And then what I started doing was. I drove the properties in the morning and went the auction in the afternoon. Can now I could see okay this house signed for this this when selling this this person knows this person this person's working with this person? This person's no intention of actually buying their driving at baiter up. And so I watched the for another couple of weeks in the finally jumped in on. That's one thing. I'd say to you and all your listeners out there. A lot of people spend a lot of time ready aim than they're ready aim some point you've got a fire. So I did my first deal a bought it. I was scariest thing ever did going once going twice sold. Like, what did I do? I just bought a house for cash a foreclosure draw chin ended up. I didn't even by what I thought I was buying about a homeowners lane. It was subject to a mortgage and somehow by the grace of God, I made money on that house. I tracked down the borrower. And I said it was funny was in California. If I need your social security number, so I can access your Bank of America account and see how much you own your mortgage. The guy gave it to me. So is great got concedes mortgage balance. Thank goodness. He wasn't months in arrears. It was only about one hundred forty which is what the original mortgage was. So I bought it for seven grand for homeowners lean hundred forty mortgage put about fifteen into it sold for two five again. I'm for four I'm thinking, I'm just awesome. So what I did at the time was I boat strapped a lot of this with credit cards. People say, how'd you get started? I just kept asking for higher limit. And they gave it to me, and they gave me zero percent interest the new cards. So I'm just shuffling balances. With three percent advance advance the zero percent interest about two hundred grand in credit cards, Aben Bank of America. At the time said if you buy a house as soon as you get title will cash you out for one hundred grand line credits. If this is amazing. So now turn my mic profits from those first couple houses might credit cards, which I used to do the initial purchase. Then not refi out with line of credit. I was up to about three and a half million dollars with a real estate in a very short period. Time. I was an active buyer the foreclosure auction. I. Thought the world would never end and then two thousand seven hit and the market started go down. I'm so busy rehabbing saying I'm a rehab or I go to the courthouse steps at by house in rehab. I didn't pop my head up to realize the market was crashing the beginning two thousand eight I was broke literally went from about two million dollars that I made two years two zero. When I say zero, you know, I don't want sales on food censored, but I had about thirty grand left at two million bucks. It sought some down to basically, my last few bucks. And I said, I gotta I gotta make this model work. So as weird like around why was rehabbing houses in downward market. I wasn't paying attention to the market. I was just focused on doing my strategy. I and trying to force that fit the market one of the big lessons. I've learned since is you look at the market. You see where the opportunity is. And you tailor your business around that instead of just creating your strategy. I name trying to force a square peg in around hope so big big lessons learned I also. Learn to that time to some more really valuable lessons. There's always money in real estate. But it's about being on the right side of the trade. Think about it. I was short properties for thirty grand that I- mortgage for one hundred grand that were worth one hundred fifty grand. So I'm getting my ass kicked. But the person buying the house for thirty grand is winning. So there's always money in real estate. You've got to figure out on the right side of the trade or the wrong side of the trade. Now fast forward ten years later, I'm selling on my rentals that I bought for thirty or forty grand back in eight I'm selling for one hundred fifty hundred sixty thousand dollars. I'm on the right side of the trade. Now, a bought Rif a soul. Right. So I've tried to take the less when I was right at the bottom just getting beat down lost everything said, how do I not do that again as kind of like when you're dating people all dating is figuring out what you don't want. Because that's all it is because you stop dating. So that's not what I want. That's not what I wanted. Finally, most will get married when they find what they do want because they've gone through a whole bunch of things. They don't want. That's how businesses to you've got to learn from those mistakes saying that's not what to do. That's not what to do. And this is why mentors are awesome, by the way, 'cause they can tell you those things if you actually listen to take on board. You don't have to lose the money. You can say what they told me not to do that. Now, they're really successful. So I'm not going to do that. Because they told me I had plenty of mentors over the years have told me not to do something that I was gung ho about doing or even stop doing what I was doing. I listened to them and it's not even blind faith because if they really are successful. Why earth will I keep doing something? They told me not to do. So I think that's been one of my strengths dues. But my pride aside listened to people way smarter than me take action on that. It's not just about listening. It's about actually taking action when you hear something from someone smarter than you put it into practice. Do something about it. It'll it'll really exceleron your success because what you'll do is do a lot more of the right things. A lot less of the wrong. Things you actually get double effect, and you're gonna springboard your success a lot quicker by voiding things. You shouldn't do doing more of what you should do. And I truly believe at a lot of working class neighborhoods were stuff styling for top dollar people maxed out on their income. One thing goes wrong, light lose a job or or there's some sort of major expense in their household. They're gonna go back into foreclosures. I fully expect the pig up. Most of the houses I'm selling today in the next two to three years of foreclosure auctions. Hi, ladies and gentlemen, you heard it here. I I love. You know, when we talk about your lifestyle today, the business that you built and the time that you dedicate to yourself in the time they dedicate to your family, and how much time effort you put into your business talk about your overall lifestyle than what what it looks like you've built in heavy built the lifestyle on it. All these years are you at that point kind of talk about that a little bit share right now today, we're doing a big push because I'm working on getting a medical marijuana license, which is my true passion. And so right now today, my workload is a little bit more than what I would like, but the goal is to transition into that fulltime and leave real estate behind. You know, true champion leaves when they're on top. Right. So that's that's going to be my goal over the next twelve to twenty four months since the transition to being passive real estate investor not actively working in the business a probably continue teaching because I'm passionate about that really focused on growing the medical marijuana business. That's probably got a three to five year exit on it. But I'm super pass. I love that business. I love what it can do for people just like education can change people's lives. This medicine can change people's lives. I know people got all sorts of opinions on it. We could spend the next hour talking about why passionate about that. But that's something. I've been working on for five years, by the way, I've never worked in a business for five years and not made any money before. So this is the first one in hopefully, only one, but I'm that passionate about it that I love it. And we're going after getting licensed in really launching at business in our goals become a billion dollar company with that particular business. So you know, my my expectations are set high. You know, I've done hundreds of millions of dollars in revenue announced time to new billions in so really really excited about it. I loved that as far as lifestyle goes. Yeah. I mean, I found myself countering all this time for work. And then I found myself not countering time for my son. So now is silly. Is it sounds a counter time to go to the gym accounted time to spend with my son? That's his time. If I'm gonna be here on a podcast with you. And I'm gonna. Show up because that's something we countered. Why wouldn't you do the same things my family? So I've tried to really take what works allows me to get the things I want to get done in a day. Make sure I'm braking system with that. So that might sound overbearing to some people. But for me at works at a means, I get everything I want done in a day and all the things that are important to me. But ultimately the goal is to transition out of business. I don't see myself working ten years from now my goal beat it ultimately be retired into a passive investor where I'm like one of my lenders might might ultimately passion with my money is to become a lender on that side of the equation MB lending to people like me that are operators. I liked that side of the business pay quirks easy. We get to know the borrowers get to know their business, and I really feel comfortable with that space. I've seen a lot of my mentors transition from being successful in business to being very wealthy by passively investing money specially through self directed IRA and things like that. So I think as far as. As you know, having a lot of time to be able to do things that are not work related. That's that's going to be my transition will be into being a passive investor. This has been simply spectacular thing for the time in advice. I think about the we've had probably a hundred guests on the show at this point in maybe about ten percent of them have all have already alluded to the fact that medical marijuana is their next stepping stone medical marijuana is where it's heading. I think about the other classes that are named the other asset classes that are named as far as what real estate investors are interested in these days, and that's the top of ballistic, especially for the people that have had on the show in the night. I think maybe, you know, stock market investing and things of that nature. I got maybe two or three people that have been like, okay. This was this kind of four doing conjecture with real estate, but medical Maryland's crash the market's gonna crash again in two thousand nineteen that it's time to buy lifestyle design, acceleration eggs. What is your favorite before the millions book my favorite book? As I read recently tools of titans because it's a bunch of short stories about really successful, people leaders. I liked it. Because I could just read one short story a day. Does that having to read this gigantic book, and I've got ADD we haven't gathered. So that's fifty minutes or more on one past come out. So I try to divide my day into fifty minutes asks love that book. I love it in listeners out there. Those of you don't know that look is written by Mr. Timothy Ferriss, you can find that book on audible, which you can get two free books. If you just go to before the man's dot com slash book. That's a great question. Number two. What is your favorite lifestyle design at this can be a business app or tool I loved Google calendar. I knew I love Google sheets. And I am now getting into Google tasks, which is like the next level of combining my calendar in my Email, and my tasks so I think Google suite in general is got the most epic tools out there. And I love teaching that stuff is free. So you don't have to spend all this money and all this crazy stuff. We're takes ten minutes to input one pass and Google suite as loud needed to be able to get everything done that. I wanna do get done efficiently a used car, coding, and all sorts of the cool tools. But yeah, I love Google think is the best out there. Now, you're actually, right. I don't think anybody's ever verbalize that. I mean, Google is a really really great job just with everything that they have all their software's in just having the whole Google, suite. I think that that is Google task for instance, you can drag the Email onto your task list. So then your Email becomes pass. You don't have to copy base it. I mean. Yeah. Exactly. I get really nerdy about stuff like that. But I love being fishing. I hate wasting a bunch of times input. A task. I want task easy to use. And to really be a tool to help me. Get more done not spend more time in putting the tasks you'll find some of those viciously tools that literally take Clive minutes onboard a task said just copying pace it over on the list. You know, so that's why not a big fan of anything other than Google suite. What do you enjoy most about the way your lifestyle is currently designed? I like the fact that you've got choices and that because of the fact that I worked myself I can choose what I wanna do when I wanna do. Now. Again, I run large businesses at this point. So it's hard to drop that same day. But find looking for next week. It's cool when you can just move around your calendar and make time something you really wanna do. And a lot of people that have jobs don't get to do that. They just have to go or they got a call in sick or make up an excuse in that sucks. You know? I I mean, I think that the world needs. People because otherwise I'd have no one working for me. So I'm very very grateful that the world has all sorts of people at that. But I'm grateful for the fact that I can move things around on my schedule and get the things that I want to get done within reason done whatever they are not pick up a new hobby. I can move my schedule around and get that stuff done like diving like spearfishing like cycling. So there's a lot of couple neck surgeries this year. See much, thanks thanking him. Yeah. So take a little bit easy though snowboarding this season. But next year back on at once my next news. I'm ready to go yet gotten there yet. And this next question kind of aligns with some of the sacrifices. Look, it looks like you're making what were the sacrifices that you knew you had to make before the millions to get to where you got to put a lot of time and effort into beginning. I think that's unavoidable for most people in real estate because there's so many moving parts because your on boarding setting up processes again. Now, I'm successful processes and systems. And I got great people running those. But when you start out, you don't have systems and processes, and you don't have great people. So you've got a higher grade people you got to build out your system, you got to build out your workflow, and that that takes a little bit of time. What I like about, you know, I consider it a thousand X my time because if I figure out how to sit save ten minutes week by spending thirty minutes on one task and then in perpetuity never have wasted time. Again, I looked at the return on my time, as you know, really huge at that point. Again, you can put an exact number on it with math. And so a lot of time hearing set up stuff for the first time in business, and that will require more time. And you've got to be consistent. A lot of people approach his business with you know, they send one Mailer mega will my response up. No. Maybe your message maybe mailing does this up. Maybe your follow up south that he called people back two days later said having someone live answered the phone. You know, maybe set up a paper click but used the wrong keywords pay per click. Does suck maybe use up. And so, you know, I. I find that people are just not consistent. They try one thing or they listened to people that are not as smart as that goes back to my regional point. They listen to the naysayers and try to really exit out of groups like that on Facebook any group that focuses on bashing other people amount. You know, I don't promote that I promote success. You know, I think there's a lot of smart people in this world, and I've found that angry people are usually broke. And so I tried not to in business surround myself with angry people because they're usually broke not someone that I can gain value from so watching you're listening from that's what I would really really say. And make sure that if you've done the wrong thing, you gotta reengineer this and say, well, where did I go wrong pinpoint basically do the complete opposite? When you've made a wrong move and business the clue is usually you have to go one hundred eighty degrees because it's completely wrong. You need to do something clearly different. And that takes a lot of humility for. So when you're starting out behold, behold, a realize? Aren't gonna make mistakes be humble and use your ears? Listen, the people that are smarter than you you pick up nuggets from a whole bunch of smart people your success that that timeframe going to be really really short because you don't have to make the mistake that people trying to go to loan to a think they don't need to listen to anybody others. Lots of people have made the exact same mistakes you and will continue to make them again in the future. You don't have to be one of those people. There's so much information when I look at when I was starting out me, there's basically free YouTube video and everything right now, you do need to verify all sorts. Of course, make sure it's not just doesn't know what they're talking about. The amount of information out there this business way easier when I started fifteen years ago, and even just research properties, the amount get all of your desk. We're buying buy properties nationwide with beat the os and with agents and remote markets, and with crews and remote markets, and it doesn't really make a difference where it is. I couldn't have done this business fifteen years ago. So I'm super excited. I actu-. You think it's easier today than it was fifteen years ago? And I just encourage everyone out there that you know, I did it when it was hard. Now, it's easy. So there's really nothing stopping you. I'm of such was essential to your growth before the millions. And why what am I mentor zooms now passed away? His name was bumper very colorful pass he had a lot of life experience. And he always really taught me about, you know, getting back up when you fall down. And I remember I went to see him after I lost all my money, and instead thumper broke, and he said son military, Danny I'm expecting to like some really epic answer. Use got to sell your way out. I said that wasn't what I was expecting. But you know, the truth is, you know, when a lot of times, we make a mistake and business we wallow in the mire. And don't really do anything about it. The best thing you can do when you make a mistake and businesses create new revenue, and so I really focused on that would have had downtime business going the best way to fix this problem right now is create new revenue enough. Okay aware I made a. Mistake not pass the is suppose them constantly feeling my pipeline with new revenue and also at checking my attitude the door every day one of the things I learned from tools of the titans books like that. All successful people have the routine in the morning. So try to set yourself up for success. Give yourself enough time to set yourself or success everyday. Check your attitude the door, whether you're meditating praying doing some sort of form of exercise, which I recommend you. Release your door from feel a lot better. Then he come to the office. You kick ass. I never want to be around people in a minute bad mood or not feeling business. And I'm not not in the right mindset. So I try to give myself about two hours for me personally. Whatever time I want to be in the office. I get up at least two hours before that. So I've got plenty of time to just get myself setup for success prepare my day. Get an action plan then go execute own last. But not least why do you think? So many of us are stuck before the millions. Even though we have every intention of giving to the millions. I think that a lot of people don't write down. So what they do as great goals. Everybody. Think about doing goals I've seen that most people are cool like vision boards and all this of anyway, I'm trying to be respectful now like that that's cool. Because obviously, it's hard to create a roadmap. You don't know where you're going, but a lot of people stopped at the destination ministry a lot of people that create the roadmap. So they got their goal. They oughta make a million dollars next year and actually teach that's eighty three thousand three hundred thirty three dollars a month. And then I break it down with it is week about twenty grand a week. Then they even create an action plan, I'm going to buy and sell, you know, ten house, and then they stop. They don't actually say what do I need to do to by ten houses a month? How do I do that? What do I need to do today tomorrow? And so I think that breaking down the action steps into micro actions. That's actually doing it. That's where I see a lot of people fall short. They had the theory, and they wrote it down. Down in one case pretend they just don't do it. And another case they have it in their head. And they don't write it down. At all. I'm a big fan of writing it down then executing. So you've got to plan and execute and plan write it down. And execute was probably the best way. I describe it a lot of people plan and then execute haphazard leagues. They didn't write it down. Don't have formulated sauce a lot of people planned write it down. But they never execute. They just sit look at this chart was vision board with Larry on it. But they're not actually doing anything to get that. And also lucky with a purpose. Why do you wanna fry just want material things or like, you have something bigger mind because I think the world's and empty place. You're just chasing money. That's my personal opinion. I would say not having money sucks, but having money doesn't make you happy. Otherwise, he wouldn't have people in Hollywood committed suicide they got hundreds of millions of dollars. They're still committing suicide. So clearly money isn't the only thing that creates happiness has got to be something more to that. And. That goes back to people can call their y and the opera gift ways to express that. But I do think that you need to identify not only where you're going. But why you wanna get there? Then that's gonna make you more vague. It's actually get down the dirt and do those action steps, and actually, you know, do some committee. This has been it's been amazing soon spectacular. I wish we can go on for another hour. But this is the end of our Sharon's. It's one of those things to where we're going to have the listeners you guys are going to have to go back on this the upsets with your time because there have been so many value bombs nuggets every single one minute marker. I love it. So kind of want to learn a little bit more about you leave. They want to get a hold of you. They want to learn more Muslim offering. We're coming from. Jer at WWW dot flip your income dot com. Can that's WWW dot slip, your income dot com? Nice. Nice nice. And we'll have a link to that. And the recommended book in the show. So guys definitely check that out again. I can't thank you enough for the time that you dedicate, it's our listeners and for the things that you're doing community in general. I think that when you more people like you. So until next time I have a great day. And it's very soon that thank you.

Lee California Mike group New York Mr Lee Carney Gina Lofton MC Laubscher Marcus crispy Heather haven Derek Mr. wooden Joe Mr Lee Kernan Tampa
BTM 97: Good Success in Real Estate & Business (Bonus Episode)

Before the Millions

56:04 min | 1 year ago

BTM 97: Good Success in Real Estate & Business (Bonus Episode)

"Joe what's up what's going on BT tribe around Ali here? And welcome to this bonus episode of the before the man's podcast. This is ninety seven and I am coming to you from Jamaica right now, just with the premise that. Hey, I'm having mazing time. And I have you guys at the top of mind, and I've been doing a ton of podcast episodes. Or at least I'm doing a ton of guesting on other people's podcasts for the past few months. So with that being said most of the time when I'm on another podcast, I will post on social media, right? So if you're following meal, social media, you will know as soon as I get on another podcast or soon as I'm guessing somewhere, and you wanna hear like a particular aspect of my story and things of that nature, and I do these much now that it's not practical for me to kind of go back and repurpose that content for you guys again because you guys are my community. You know, my story you've heard my story planning of times. But every once in a while there's a little bit of a different angle that a podcast hosts with. Like to go in. And when I get that different angle when I know that I'm presenting new content or different concept. I love to share that with you guys. So over the past few months, I've kind of looked through the podcast that I've been interviewed on. And again, all you have to do a search my name on any of the podcast directories. And you'll see a few of the podcast that I've been on highly suggest that you go listen to those but I picked one for today's episode. And this I'm being interviewed by the good success team on being interviewed by my good buddy, Josh color, and you're going to hear a little bit more about my story. Things are going to be new to you. And a few things are gonna be like irony noticed about you, very well. I'm playing this for you guys in the onus episode this week because I think it's going to be super inspirational for a lot of you who are in a professional setting, and you're looking to leave your job and you're scared, and you're worried and trying to figure out your plan. This is going to be a great bonus episode for you guys. So I can't wait for you guys to hear my interview on to get success podcasts and that's coming up right now. And I can't wait for you guys to hear it so notable that we know intro. We're going to just jump right into the show. But guys before we do that. I remember on. Our most recent episode episode ninety six and this is titled lifestyle notary masterclass. I actually went over abra. And you guys know we talked about new strategies every single episode practically, but I went over a brand new strategy that one hundred you have not heard of yet. And this is a strategy that you can pursue after work during work on the weekends. Whenever you want and you can start making one hundred hundred three hundred dollars per appointment. And while you're pursuing this strategy while you're doing this strategy. You will learn a little bit more about. Real estate investing. I'm so if you want to listen to that episode, it's ninety six and if you've already listed, and you haven't get gotten your notary, you haven't yet learned how to become on loan aging just to have that even as an investor. I think about the fact that even if you don't put the sort of case to us to make extra money on the side or to completely replace what it is you're doing now or to actually have income because you've been jobless for the past three months as an investor you're gonna find that getting this sort of is going to be very useful, not only to you. But to others in your community, other investors other people in your circle because as a notary you play a key role in almost any in every important transaction, right? So if nothing else listen to this episode and get your certification. It's so easy to get certification. Get your certification and just have it. Right. But again, this is something that could produce for you a full time income at the end of episode ninety six actually interviewed somebody who actually quit their job in a few months after starting their notary public business seat built-up her business to four thousand dollars a month from March to August part time, and and in August when she got the four thousand dollars a month. She quit her full time job. So if she ever wanted to become relevant investor she's in a prime position to do. So she's in good with lenders. She's in agents, she's in good with investors. It's amazing. So again, go back up so ninety six and if you've already listed episode, you haven't get went through a course or you haven't get became a notary public and learned about loan signings. Head over to lifestyle notary dot com. That's l I e. S T Y and OT a r y dot COM and your pockets will thank me for now. Let's get to the meat and potatoes of today show and listen to my interview on the good success podcast. Are you ready to be the master architect of your life? Are you ready to design your business and invest the needs that create the lifestyle you've always dreamt up? 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 am an investor and you're listening to the the core. The millions podcast pay their money miss Heather haven, would marketing coach and global entrepreneur. And you are listening to the before the millions podcasts. Hey, this is Marcus crispy host of the seven minute men to podcast global entrepreneur all around. Geek. And you listen to the befall the millions podcast. I am MC Laubscher the cash loan injure, and you're listening to before the millions bought cost. You're listening to the before the millions fund cast a whether you're looking to invest where cash flow all building online business that allows you to be location, independent you come. To the right place. Mr. Hollywood himself presents the be four the millions podcast. And now your rose to Ray. Flopping back to the good success podcast. I'm your host, Josh color. And man, do I have an awesome guest on the show today. Diriye Alahli, then I say right got her. So I'm so proud. Also offsite. Great stuff. So derail is actually got a very interesting personal brand that we're gonna talk about a little bit. But I actually got looped in with him. You guys heard Zach beach on a previous episode who is out of Rhode Island was smart real estate coach. And we also had his father-in-law Chris Prefontaine on the show which. So I'll just say it real quick. So the Ray has his own podcast, which I've had the privilege of being on called before the millions podcasts in man. This thing is awesome. Like, I got interviewed by him. And it was great. But he's had so many friends so many friends of ours. And I'm just a couple of them will number one is Chris Voss, the author of man, what's his book? Now. I can't even think of it. That was one of the difference. By way, I was trying to get ahead of myself. But he's had Chris fos on the show. You guys Neil Larry goings, Zach beach. Crispy, Fontaine, barkdoll Fini. Is he's been on our show Marco Santa rally. I mean, these are all guys that are friends of ours. So it's just funny. I mean, we talked about it on yours is that everybody's connected in some way, shape or form. So, but anyway, it's crazy. I have to Ray on the show. And like I said he's got before the millions podcasts. And it is awesome concept. I love the concept of before the millions. But make sure you go check that out if you guys want to end with it than just show some of the one that I'm on shameless plug there. There's plenty of other awesome interviews on there. So you guys makes you check that out. And that's at before the millions dot com is where you can listen to that. And I believe you're on all the platforms. I listen to it on Spotify. So I'm sure apple podcasts and whatnot. So that's awesome. And then he's got a couple of other things as working on. So I know he mentioned a mastermind that he's going to be working on pretty soon. He's got a workshop and coach and a mentor, and that kind of thing so I will come back around to him and have him talk about that a little bit. And like I said he's actually out of the Dallas Houston area. And so you guys we have plenty of friends that are out in that that neighborhood. So this is going to be a great interview, I'm excited about this. So during thanks for me on the show, and we'll come right back around to you. But before we get into it. If you haven't already make sure you have subscribed to our podcast. We're on all podcast platforms. Just go. Search good success and you'll find a stair and then our mastermind so I've actually been talking about masterminds with Ray here in over on his show. We talked a lot about masterminds in the power of masterminds. So make sure you check that out. So without further ado, d'auray, I've been on your podcast. And so my mouth is kinda like I need some water right now. So I'm gonna hand the my to you. And so I can take a sip out of his mug. Success migrate shameless plug again, but introduce yourself. So who you are what you do a little bit of background about yourself. I am I am you mentioned a personal brand early on. I don't know if you caught me while you were talking about some of the things you guys have coming up. But I'm over here getting a cameo of you and our interview because my new focus my new vision for for twenty nine hundred there's really becoming a personal brand twenty eighteen I took the leak into building and growing what I consider to be a big business for my standards writing. Where I am now. But I had a lot of things that happen along the way that kind of had me step back and realize that man in this new day and age that we are in two thousand nineteen the way the power of the internet the power personal brand. And really just putting your best foot. Forward on social media was John I used to hey, social media. I tried to delete everything. And then when I came it was like a whole you have back. So when I realized the power of this behind it man is truly spectacular sow step in if you photos of you because I want to pose some social media, and that's my big push for between nineteen. But how did how did all of this star? What's my story? How did this begin? Yeah. Give us the before the million story there, you got on your show, give us exactly. So man. I I even take it back to when I was a kid, but I've always been in the world of real estate randomly. I mean, it's been super and I wouldn't even call it random. I'm saying random just because because of who your audience may be, but for me, I believe it was ordained. You've talked about your faith would've earlier. And I think we share the same fight. I believe there was ordained. As a kid, my favorite guy must monopoly. Second favorite game was chest. While my favorite game was monopoly. And I would lose to my my older cousin. I was she wasn't really a cousin, but a family friend. I would lose to her because we play like every single week. And I was obsessed with his game. When I first heard of it, and I would lose to her constantly and. One day. I was like, okay. Like, I'm in love with this guy. But I'm not any good. Let me figure something out. And there wasn't Google back. Then like, I feel so I'm not even we're not. What in the world? What happens? Mike, I'm twenty eight by the way, guys. And I'm just like man, I feel old. But there wasn't good. We're back. Then I couldn't like knowing me. Like how I I it's Cuban under a minute was because I go. So I mean, I was around back then right? But I was just like there has to be a way to beat the system like there are certain things. And of course, it's the game a chance, right? There are certain things that always hold true. And I realized that the more board spices that you owned and the higher you're able to charge rents the more successful. You are as an investor and I took those same principles, and I applied that to my investing journeys today. But I didn't become a investor straight out the gate. I went through the typical route, you know, I have a foreign current which we sharing sharing that as well. And I have a raised by single mom, and she always wanted me to go out. Although she was an entrepreneur. She was a budding entrepreneurs still entrepreneur says she's killing it, by the way, she always wanted me to go this typical around as foreign parents do because of safety. They wanna make sure. You're becoming a well, upstanding citizen. So I wanted to typical route went to college majored in county, and the common notion was that a lot of people or let me just say myself. Let me talk about myself. I realized that I was going to be successful. Whatever I deemed as success where that doesn't have to be monetarily my perfect lifestyle. Right. I realized that very early on. I was going to be successful. And there was nothing. Anybody to do about it? And. I started going down this path to where I operated acted a I knew and everybody around me feel that I was going to be successful had people telling me like in high school like I don't know what it is. But I just know that no matter what like you're gonna make it so operated with this belief system. Going to college. And I saw all my friends knew their majors. My little sister seven years younger than me. She knew exactly what she wanted to do. She's always know what she wanted to do. So many people around the always already had this plan all my life. I never had a passion never had a drain and never never never just never had that. This is what I'm good at what I'm going for. I mean, the closest thing to that was maybe basketball in high school, and that still wasn't even passionate about that. Like there was so many places I could have gone away basketball. But I could tell that the drive was inferior. It wasn't something that I was willing to risk it all on. I didn't have that feeling. I started looking for that. But I never really found it. So when I went back to my thoughts of being successful back in high school. I was in college. I was just like what I don't really see a good path to success. I started thinking about society, and how to be successful in society's eyes. So I started asking. Well. I mean, what do I do? What's next? What was what's possible? So they said this is what you do. Go out. You get a nice pain job. Matter of fact, your thinking about doing accounting, go work for the. Best accounting from in the world, you go work for the best accounting firm in the world and you'll be set for life. Okay. Let me let me go do that. So I literally start building that my resume. Our start participating in all these extracurricular programs activties tip this organization from school that that was like five hundred members to like, we grew grew. It's like over like five thousand members by the time. Like I went from like being like the assistant to the president. And then I was a part of everything. Right. So I followed the rules. I what they someone to do, do volunteer. And they said that the ROY reward at the end of that was that I would have this secure job. I was like, yes, they said that ten years I would be able to to buy into the company or in fifteen years in eighteen years. I'll be able to buy into the company when I bought into the company I start making around half a million dollars a year. Well, I don't know a whole lot of people making that type of money. So that sounds amazing sign me up. Yes, let's go. Let's go do this. And I started working at this farm. But we're gonna win the best accounting firms in the world. And I thought like I was on my house where it's like, I was like everything, you know. And I realized through my working like through working forty hours a week, and then fifty hours a week in then sixty hours a week in the traveling from Houston to Dallas to Arizona's detect the San Francisco on the drop of a dime and not controlling my schedule, not controlling my my time, you know, being here in beer in answering to superiors who don't really know what we're doing missing birthdays missing, weddings. Not really understanding what I was building. Like, I knew that the work that I did was fulfilling in the sense that it was providing the clients that we had a result. But I mean that had nothing to do with me. So I spent from January to Joan paying taxes pain the government because we pay forty percent in taxes for percents axes in this is like taxes across the board. And I'm just like so you mean to tell me I have a fulltime. Job. I'm living the quote, unquote, life half money's going to the government before I even see my check. And then I just graduated graduated from college as most people do and the the rest of that money was going to the Bank in the forms of a mortgage or rent in my case, a Cornell student loans credit card statement, I mean, all that goes to the Bank. Josh where does the right fit in this picture? Right. So so you mean to tell me all my money throughout the year is going to these other people, right? Okay. Well, that's not that bad. At least. I'm building something for myself. Then I realized why I'm not building something for myself. I'm building up another company. So there's no money going to me. And there's nothing actually that there's no equity that I'm building than anything. But this is the life does hounds disturbed. I was I was I was I was battered. I was bruised. I was disturbed and I was like I can't do this. I would start. I would start start looking at all these income. Streams looking at all these methods looking at all these business models now, she's like something. And the reason I even started I'll bet was because of this one book shepherd, of course. But it started me down this path in in two thousand sixteen and I mean in in in real estate years like you're like, you're like a senior citizen like you've been in real estate for like five years, man. You're all right. Even though you're young you're three years younger than me. But your old in real estate years. Like, I want people to know that hey, there's people like me. I've I've I've not been in real estate for three years here knows people like me who's who's been able to get what some people may deem successful earlier on in real estate who and I haven't. And I'm not the smartest person in the world. I don't have the best resource in the world. But I was able to do this. And I was able to do this aid because I had a burning desire to get out of my situation. And because I want to go find help operate. They're interesting. Yeah. So so they can get us a little bit deeper into the real estate side of it. So you're so you're you talked about, you know, the background of where you got into it. So kind of what you've seen today what you're doing in your business with real estate vesting specifically. So let's talk about that for sure. So I originally started out in real estate with a method called house hacking, or you're familiar with how sacking, of course know, how maybe maybe explain it. It's a different phrase for me. But we'll see. Maybe. So what I what I did is my very first property was a single family home, and my intention was to eventually, my my intention was to leave in the property for a certain amount of time. And then eventually ran it out right circumstances change, and I had to move and I went to Dallas. And I was I was like, okay. Well, I need another property because the single family home in Wednesday. I need another properties actually live in. But I'm trying to build his real estate portfolio and starts career, and I don't really want to pay fifteen hundred dollars in rent like, I was just doing back in Houston. Like, what can I what can I do? So I I'm home buyers are privy to certain incentives to buy homes, of course, because the government the bank's whatever the greater power that you think is behind everything, you know, they're trying to get your money, right? Whatever the case may be but there privy to certain incentives and one of those incentives is you know, you're able to put down much lower down payment on your initial hall on your initial investment property while. First off Louis night curfew if you buy if you buy a home in the United States today, you're Mike you would normally put down twenty percents we are downtime like, so if you buy one hundred thousand dollars property, you would put down twenty percents the down payment, it'd be a little bit more than that 'cause closing costs and other another fees. Right. But you're down payment would be twenty percent, which would be twenty thousand dollars. Now, if you are aware of some of these incentives, and you ask your lender or you ask people around like Hayward or something that I'm afforded with and different people are forty with different things. So if you've been active member of the military may get what's the loan? If you if you're just regular citizens that you may get what's called FHA conventional there are lawns. Where you live in a rural area on there's so many different incentives for different little quirks that you may qualify for that. You may not even know, right? But the overall premise of this for me was that I was able to buy an investment property that cost a whole lot of money, and I'm no fresh. I'm in the workforce, I'm not making a whole lot of money, and I'm not saving a whole lot of money. But I'm able. To buy an investment property house. A whole lot of money for a little bit of money, and what this investment property allow me to do was I had four units. So picture four two bedroom in one bedroom homes separate, but you put them all together into what I mean, you know, this, but I'm just explaining this year. I didn't put them all together. And it's literally like a small apartment of afford different for different separate residences. But they're all together. And that's what I had. It's a four plex. So might when I did is I lived in one unit, and I lived in one of the wooden bedroom Unisys to one bedroom. It's who lived in one of the one bedroom units where where the going rent for that unit was nine hundred dollars rest, the two bedroom units going in those units were thirteen fifty right? So I lived in one of the one bedroom units and the collective ranked collect from the other three units paid my mortgage paid off. Paid all my bills not only that. But there was excess on top of that that put four to five hundred dollars in my pocket every single month. So you just imagine this this young kid. I mean, you can't say young around you. You can't. You just bide. Imagine this this young twenty five year old who has no idea what he's doing. No experience just about as I investment properties a single family home. And now he's buying this this massive four plex, and he has really honestly, no savings. No fines, he's winging it. He's figuring it out because he took that I and I went from paying thirteen fourteen hundred hundred dollars in rent to now buying a property no longer throwing money away. And now people are paying me. So that I can live in my property, just crazy. Right. Awesome. And anybody can do this any but everybody can do this. You know, I bought this property because I lived in one of the units just because I lived in one of the units I was able to buy that property for less than five percent down. Okay. Now, there are certain ways in which you have to be careful, and you have to make sure you're not over leverage things of that nature, and you wanna base you wanna definitely consult with a professional or or coach or an agent who's done this before. But if you do this, right? As a young professional. I mean, Joe world opens up not only because you're starting your investment in journeying your snowball. But now you've created what I like to coin location independence, because when I live in an apartment that I rent for fifteen hundred if I go to Jamaica, which I'm going to make an exce month, if I go to Jamaica, my hotel cost two hundred dollars a night, right or three hundred dollars a night. So I have to pay my rent next month. Yep. But I also have to pay for I'm living. So most people they're not able to travel for long periods of time. Because it's MRs risk bright house hack. You have other people paying your mortgage and your rent for you. You don't have that living expense. You can now be location independent. So what I started doing even that unit that I was living in I even started. Here's here's a twist on it I use that unit as Airbnb unit. So now, I'm not getting five hundred dollars a month. Extra from the other three senators now, I'm getting more like a thousand dollars a month twelve hundred dollars a month because of that unit now being utilized because I'm travel help. This is some good stuff. I don't know if we're gonna be like. Rex now, it's good. I love it. And I'm actually going to be in Jamaica June. So. Small world. So Boston you. Yeah. So what I want to what I really want to highlight is that. I didn't I didn't wait until I knew everything to get started. Which is the most what most people want to do they want to wait till the lights are green. Yeah. I didn't know anything. I mean, most people would. And they were telling me, you're crazy. Why are you? Why why are you buying this asset like you? Don't know what you're doing even even like the house working with a realtor who was who is an experience real estate investor who has a boatload of cash, and I looked at him as a mentor, and he knew exactly what I was doing in my background. He knew my upbringing. You know, how serious I was and as my mentor. This guy was shooting me down because he thought my dreams and my goals in my business where we're just I mean, he was like you don't like this is impossible. I wanted to thinking this big. You know? And I was just like if I if I if I know adhere to like his advice and his wisdom because he was somebody in my synergy, I wouldn't have continued down this journey. Right. You know, but I had that burning desire on decided to get started. So if there's any message I want to give to your audience your listeners, if they're looking to get started in real estate, I don't care if you mess up on your I do and some people may be like, no, no, no, you can fall flat on your face on your. I do. But that experience is priceless. Yeah. What you've learned to acquire that deal that that that knowledge you can use that knowledge to rinse repeat at improve on. What you did that wasn't good first time and build your portfolio, but you started. So you're going to continue doing that most people. They don't get started. Because that failure. Right. They're like on. Now. I don't wanna feel. I'm not doing that. See that's what I'm getting. I mean, that's like that's an experience not want. These experiences. Yeah. All right. I love that. That's all awesome stuff. And that's kind of. I mean, I understand the whole concept the house acting bets first time I've heard it said that way. So let's I'm sure other people have heard in everywhere. But yeah, that's that's awesome. I love that. So that was kind of your your gateway into the real estate investing world. So that's awesome. So go ahead. No. I was gonna say so that's just kind of continuing. What that question if you want me to I don't know if you've got a so so so that's how I got started. And then I was just like, okay. Like, this real estate thing is cool. And this is like what I'm going to build my laurels on. But have to make active income to be able to point to these passive investments because after your first second or third deal. Most investors who start out the way I started out because we're not starting not wholesaling and things like that. Right. You run out of money. She putting down twenty percent on deals if you're going to regular finance. You will run out of money. If you if you don't come from money, right? So I was just like I need to go ahead and start some businesses on online businesses, and I'm going to create some revenue so that I can have more investments when I quit my job. So I bought my first infests investment property, which was a single family home at three bedroom who bad and that summer, I created business after business after business credit job shipping business created a kindle publishing business. I created lead generation business. I just I created a digital photography business. I kept going in choline in going. Josh I was I was I was burnt out. And I realized that the reason I started creating all those businesses wasn't because I wanted to pour the money from those businesses into investments, which is what I told myself was the reason which was actually the reason. But the real underlying reason I started each of those businesses was because I was scared of failure. I was also scared of success. The reason I say I was scared of failure is I would start another business with the premise that. Hey, if that lasted smell just started doesn't work while at least, I have this business. And I know that this is gonna work. This is gonna take off or like a half six businesses. I just need one of them hit. And I've not know if you've ever been in that position. One of them. This one hits. Then I can take care of everything. My life would be amazing. And I found myself in that conundrum so many times to where I'll spend tons of money off Facebook ads, and I was I was like point all these businesses to toward December two thousand sixteen was just like. There's no more. I can't do this anymore. Something has to give. And that was when I decided to get my first mentor, and I don't know if I said it on on on before we started according to or if I said it on my podcast, but I didn't believe in mentors. I didn't believe in coaching. I thought it was scam. I thought people were just taking your money. I said I can learn on this while myself through YouTube and through books. I was so wrong hard. My first mentor on the phrase things. I did was literally get laser focused laser focused on what it is that. I wanted what I wanted to achieve where was trying to go on what I needed to get there. And honestly till this day that has been a work in process process. Like, it's like redefining redefining what laser focused means because as an entrepreneur, we have shiny object is something that it's net. It's night. Like, everything looks so good everything looks so appealing you kind of have to pick and choose. So I needed to get laser focused one one of my very first four days into just when I actually wanted to do at the time. So in the finance world and accounting world was a big four accounting sauce. Auditing the financial statements of some of the biggest real estate companies in the world like Hines and spirit roasting all these big companies house auditing financial statements back then I had him rhetorician effort out at no idea that I wanted to get in real estate on newest I play monopoly, I interned with a real estate company. That was pretty cool. I didn't really know why. That. Oh, she was like, hey, free money. Okay. Cool. Right. But all these things in real estate are leading me up to maybe had no idea. But I was audited financial statements if some of the largest companies in the world only because before I started working I heard that that that the people on that team for that company. They travel a whole lot and I wanted to travel 'cause I love traveling. I was like I want to be on fats because it was a real estate team. But because I could travel right again all of these alignments that brought me into the real estate world. So I was looking at these financial saying like, this is crazy. But I never put together I stuff like this. When I finally did pick up poor, dad. I started implementing some of the strategies that he taught and he was like don't I mean, if you're going to work don't have a job that provides money for your sole purpose for working there to get paid. I I'm I'm like, so my mindset was like, okay. If I'm going to continue working while I'm building my real estate portfolio, ma'am passive assets. I need to do something that's going to be well worth it. That's actually going to help me in the pursuit that I'm after. Right. So not saying that. What I was doing wasn't helping me my pursuit. But I needed to be more well rounded so had learned the accounting side of real estate. But and that was like that's more. So looking at a raiders looking looking behind in the past what has happened, right? And I needed to learn the finance side of real estate. So I went to go work for an investment. I went to go work for a private equity hedge fund based on New York or I went to go consult for them. So I got to learn the finance side. And I got to learn how to make projections in all this house. Like, okay, I am actually using I don't want. I mean, it's about time. I'm using them for knowledge like they're paying me rather than me wanna school the dropping twenty thirty forty sixty K for the knowledge I'm gonna go to this job. And you're going to pay me to get out. Right. So I was working the system in in that sense. But I was able to acquire that knowledge. Now, they would look at some of these these built literally billion dollar funds. Like, I was totally for twenty six billion dollar hedge funds. So they had billion dollar funds than I was solely responsible for creating and printing up investor reports like my my commercial, Mike commercial wizardry was. Like an all time high, right? So I was just like well since I have a little bit more experienced than most people who start out as saying busters. Let me put my best foot forward and let me jump into the commercial game. So I got my first mentor. I got super focused, and I decided that I wanted to go after commercials. I wanted to be a a multifamily owner and one of the first one of the best ways to become a sponsor or multifamily or a lead a lead partner in a multifamily deal is to either invest Pasolini ideal or be be just the general partner who who's raising money for that you so when I found my first mentor, I was like, hey, let me attach myself to his hip. Let me learn from his knowledge his experiences, and let me actually go start working on his so that I would garner. The knowledge the experience in the know how so that when I went out there one hundred unit building people would trust me people would want to work with me so on a cell phone. So the first deal that we got under contract. I mean, he has like almost think he's like a half a billion dollars in assets under management right now at the time who was like two hundred. Thousand two hundred million. I'm sorry because as soon as million about Nasice, but I feel that we got under contract when I finally became like his meant. He was a. Three hundred and two unit apartment complex in the suburb of Dallas and was going forty two dollars. Wow. I was just like okay now. I'm at the big boys table, right? I'm the put on my pants, right? I felt like I was making progressions. But now this is like a big league. And if I can do this like the world's might waster. So I started raising money for this deal told him I was like his job was like hydro operates about a million dollars for this deal and him having the track record that he had him doing this for a while. There's like slowdown. You're not going to raise a million dollars for this deal. That's a half a million see if you can raise that. And then we come up you up. Whatever I'm gonna dollars for this show. No experience. No idea what I was doing. So the studying started reading started acquiring August knowledge to learn how to raise money, I've never been a capital as I've never thought of myself as a salesman. I was just like, hey, let's figure this out because as you can see as a common theme throughout my life. I just jump in. And then I figured out. This was the first time that I did that. And I fell flat on my face. So what's craziest while I was working for the investment firm? They found out about this deal. Right. So this investment firm who invest in real estate who invest in large apartment buildings who investing in commercial buildings like, that's that's their bread and butter. I was consulting them. So the company that I was with when we were consulted for them day found out. They were like, hey, like, you know, like our client, the one that you work on the one that you provide all these reports where like you're buying an asset that they would possibly like it's something that's a real house. So their argument was that, you know, what's going on. We heard that you're raising money or you're raising money from people here at work. You know, that's not allowed and I'll just like those this big hole billboard do short. What's segue from the ordeal is that I was in a position to where I had a decision to make that I want to be fired on the spot from a job in which I was sole person. In my position, I was intricate to the processes that were being carried. Out. You know? So I knew the position I held or do I want to let them know what's going on? Let them know that I'm that this asset is a classy asset this is in this certain sub market besides it has this certain price minded, it has completely different. From what this company is. Like, I I could have gotten my way out of the situations. What I'm saying, right? But I wasn't the normal employee. I had a plan had a two year plan to escape the right way. This was a year and a half in. And I was just like. Do I keep do? I argue my way to keep my job for the next six months. Do I take a leap of faith? And do what it is. I know that I'm supposed to be doing. So had started my podcast before the millions. At this time had just started the idea of coaching and consulting. So I was building my very, first course. So I'm building up. This course, I'm starting to raise money. So if I'm raising half a million dollars, a good chunk of money that I get on the front end, you know. And also, this course, I'm coming out with some just like, you know, I'm walking into this meeting. Like, hey, I mean, I can leave today. Our care have all this all this all this going for me. So what would you guys wanna do? And it was that attitude that I maintains rough meeting so they were like, hey, we just want you to explain everything we need religious look into firearm. You there was just wanna wanna to understanding I came in with the mindset and attitude it, I didn't need them. Like, I have learned everything that I wanted to earn. I was there for a reason it wasn't there to get paid. I was there for a reason now, although my time line of two years was going to be cut short. If I did leave that job that day and eighteen months, I was gonna figure it out. So I just said, hey, guys. No, no. You guys are expecting this that and the third I'm not even going to provide that to you. Let's just let's just call it quits. Let's make amical amicable leave malicious do it at that though. Like, okay. And that was that. So now, I'm out with no job raising money. And I'm building, this course. And like I said I fell flat on my face. I had no experience raising money. So I ended up raising exactly zero dollars and zero sense had no experience in building. Of course, was my very very first. I like major entrepreneurial endeavor, and I made your dollars and zero sense. So I was in a place now to where I had to quit the one income stream that was actually like making me it's like my my rentals weren't producing enough profit to sustain me yet. Like, they mean, I had just started how like five units, and I was just like, okay dry. You gave yourself a two year ago. It's eighteen months. What are you gonna do? Are you going to go back to the workforce for the next six months and give yourself that two year time horizon because you haven't saved enough you don't know that this is going to work in the next it's much you need a longer runway. Are you going to go back and do that? Or are you just want to buckle down in figure this out? And buckling down and figure this out. Man. I couldn't I mean, I had no income stream. And I couldn't I mean, I was in his position to where it was like, okay. If I book it down and figures out I had to tell myself with that meant that meant Airbnb because I was in Dallas. And at the time I haven't closed on my next deal yet. Like, I was in the process of closing on my next to you. So I hadn't closed on my next door. And this was this was the property of that was going to be living in I had just went through a major break up the same mental my girlfriend. I was staying with her at the time something I found myself. I would never do. And I ended up doing that sandwich or at the time. So now, I'm in Dallas, I have nowhere to live have no income. And my businesses are done. They I mean zero right. And I'm just like, this is a pivotal moment. This is your defining moment. This is this is what this is your story. What are you gonna make of it? At that time. I went back to the well, I went back to what I did the first time that I was at a crossroads. Let's go find a mentor. I want to go find some help. I said, hey, this is my situation. I don't know what's going on. Can you help me? And sure enough the help in the guy that I went to go. Find was factly. What I needed? I was able to I find help and the in the online business world and just kind of figure out my funnel to grow other than our doing that. I was doing. I mean, I'm wearing a click funneled shirt right now. And this is kinda my first school of thought, and I totally don't even resonate with a lot of the teachings that that clicked on those has like today because of what I've learned, and I it's crazy the growth that I've experienced, but I like this was my initial launching board. But I went to go get coaching. I went to go get went to go get mentor. Now, let's go join mastermind once go find groups in which I had to pay five and ten fifteen grants who just to be amongst individuals who were on the this, this this mindset that I needed this wave this energy this adrenaline. And it wasn't until then it's why put myself in position. Tour. It was just like, oh, I could have had success all this time. Now, I had people helping me build my business. Like, literally like, I thought I had a business, but I didn't really have a business, and I literally had people help come in and help me like this. You do hear this? How you built this stuff this which you here, you know? And I I I was a part of this one mastermind that gave me literally went one Email a single Email one of the first restaurant meetings gave me one Email script copy the copy didn't look phenomenal. Look, like, regular copyright anyone emails script. I sent it out to my to my to my base, and I need to send it out to everybody. I since out to a few few my subscribers and that Email literally produced from me fifteen K in like the next week and a half. And this wasn't until February of the next year. So I had went for five months six months with no income, and when I joined this mastermind group when I joined when I when I got coaching from the right people. My business literally took off overnight. Listen investing. I started learning how to invest in Airbnb units. So that started providing me with more active income, and then I learned that there are a lot of people who are in my position. There are a lot of people who will be in my position because I care. It's the first time I've ever people never bought a single property. They're figuring out how to get started. Right. But along those lines also realized that those people could buy their for property pretty simple, pretty easy kinda high. Explain it to you. But that second and third one is going to be kind of tricky, especially if they've used up all their money. So I started realizing that not because of my own personal desires, but because I wanted to help other people when the hell my audience, I was just like, well, I've helped him get started by need to I need to kind of Acilitator process for them to actually go to real system. That's business. So I needed to go back and build that system for myself. So that I can teach that to my audience, and it wasn't until I started implementing some of those strategies to where I was like, okay. My confidence, you know, even even going back to results from from our clients, I had a streamlined system. That would help my clients get the first investment property within weeks. It was down packing was ironclad. And it was it was so effective until it wasn't. And I found that there were certain individuals that they weren't for some reason another than had the right motivation that that was too hard. Or are they had the financing? So I I kind of started blaming myself. You know, I was like man like my biggest my biggest attribute is also my biggest like my my. My achilles heel because I care so much that I wanted to help people get their results to to like this expense where every single client. That comes across my mind like they wants to work with me. Like, I am one hundred percent invested in their future in their result. So when I would even just have one person not get a result. Like it would kill me. Josh it would Curie with competence. Joe my soul now's site, man. Like, I I noticed assistance. You know, ninety percent of people that go through courses that go through these things they never take action never do anything. But as much as I know what the numbers say when it actually happens to me, and I see people that I wanted to myself minute stuff like how I'm just like. You paid me you pay me this money to do nothing. And I can't motivate you to do. So I took that personally. And I went to go read that my teaching style. And let's go I went to go do a whole bunch of training to personal improve. Because again, you think about anything that's going on in your business. And if you if you're if you're if you're of the mindset that, oh, well, it's employees while last year, I had employees the shadow haven't changed much autofocus. Anyways. If you say always this employee fall or assist persons while or this is the reason why this is not working you've relinquish the power to do anything about that situation. Because you put the Bryant's money us court. But if it is their fault, but you're taking responsibility for it as the business owner entrepreneur no matter what it is. You have the ability to fix that problem. You know, no matter and it can be, hey, they miss type something wealth who hired. Or they missed types who didn't proofread. I mean, there's so many things away from that. But if you always come back to the fact that no matter what happens in my business. My business is a direct result of the decisions that I've made than you have full control over that. So I was in a position to where in my business like as much as I I was helping so many people get to their goal. There are people that were falling through the cracks. And I personally that personally affected me on emotional level. And this is my second. This happened really recent. It's happening in August of last year, and because of my emotional state, I stopped focusing on my clientele and getting them results, and I started focusing on self improvement because I know that was the only thing I was going to get me out of this rut, it wasn't any new business strategy wasn't any any new knew anything was literally me MB won't with myself chagrin out how I how I was supposed to how is supposed to be or flexible my business household to do this. So. This long story short where I've gotten two today is I've changed last year. I boats are built what I like to consider a business not had employees had processes had coaches like coming in. And I was just like man like this is what I want to build. I started getting away. I started seeing some clients weren't doing good. I started getting away from that personal connection. Some kinds expected to be able to contact me. More are a lot of things that weren't sitting. Right. With me as I started building this big business that I realized that going into this year. The a lot of things needed to change saw changed from building a business going back to what we talked by beginning of this podcast was now start building a personal brand, you know, really getting personal with every single person that comes across my constant helping build that relationship because if I have a client, and we're friends we built a relationship, and they're going down there journey in three or four months down the line. And they're they're having problems. They'll they'll come to me as a friend. They'll come to you. I us this what's going on. They'll come to me. But how can you help you know, that will? I'll have that relationship. But if it's a transaction it, there's no connection there. And I don't really think that I was gonna be able to build a real business want us ability based off transaction. So this year, it's more about personal branding smart about relationships. It's more about is more about helping other people get their goal as effective as possible as quickly as possible with that personal touch. I love all that. And I love the story that you have. It's incredible. I think that people need to go to your podcast to hear more about you. And what your mission is for this. And I love the whole focus orientation to is that you want to make sure that you're focused on whatever it is you're doing and one thing that you said that when you are shifting into the personal brand from your previous businesses that you know, you realize that you need to self improve yourself in. We've had this quote set on the podcast a couple times where if you can't row yourself, personally, then you're not going to grow professionally and that is so true. There's a lot of essence in that. And I think that's exactly what you did. So awesome stuff. I appreciate everything that you have share so far lot of value bonds. It's been great. So. We're going to have to wrap this up though, we got a two more questions that we asked. So we asked every single interview with that we get on the show here. You did the same thing on your show where you ask these same six questions. I believe it was and so we have two of those. So what we're gonna do is the first one is good success. So for us good success means a lot. And you even heard the message a couple of times when you had me on the show of what we're all about. When you hear that term. Good success. What comes to mind? What does good success mean to you? Good success. That is interesting. So last year in two thousand eighteen I started researching this exact definition the what what is what is success? Everybody has their own definition of success. I mentioned earlier that my definition of success. Maybe totally different than your definition. And I was in corporate environments where my definition success was so different than so many other people, and I was just like, well, I mean what what is true success? How do you know if you're successful because most people will look at somebody like, Jay z? He's successful. You know, most people look at a lot of these no investment moguls like they're successful. Right. But I was just like everybody can be successful in their own personal way. But how do I how do I describe that in worse? So so going back to your question. What is good success? The best definition that I found for success today is probably by Napoleon hill. And his definition for success is the constant the constant progression of a worthwhile endeavor. Yeah. Now, I paraphrase, but but he said, the concept progression of a worthwhile endeavor. So whatever it is. You're doing. So if you're at work, you're not satisfied what your nine to five and your partner or your vice president or you're your CEO, you're not satisfied, and you're progressing through the ranks. And you're you're killing it. If this is not something that's making you happy. If you're not satisfied, if it's not something that's filling a worthwhile endeavor. Then you're not successful. It doesn't matter. How many millions of people out there that you're the CEO of whatever this company is? And you're you're not successful. Right. But if you're an employee out there who's never bought real estate who has no idea where to get started who's trying to figure out how to get their footing in this game. And you just listen to this podcast. We've just picked up your first real estate investing book, and you're making an effort towards something that you deem as worthwhile. Success by definition. You are successful as long as used Q keep making steps towards down down that path by definition. You are successful every single day because you're making a stride towards what you deem to be a a fulfilling life filling dream of filming. So that's what I that's what cost five success is that constant. That constant notion towards what it is that you deem as the as at right fit as at rice accessory. That's good success at love that that is awesome. And I love the the word fulfillment. That you use there that is that it's key. That is exactly what we're looking for here in this in the message of good success. Let's awesome. That you had that one thing that I wanted to point out to is on your website. You know in the bio that you have I believe it's on your front page if I'm not mistaken, but talk about you use like vehicle the word vehicle for real estate. Right. So real estate is your vehicle to get to your fulfillment. Or the word that I'm going to say here is joy. So instead of I wrote down instead of using the phrase what you wanna do you used doing things that bring you the most joy with freeing up your time. And I think that's a credible. I think joy and fulfillment. Go hand in hand with each other. So that is absolutely awesome. Thank you for sharing that. So we got one more thing that we got to wrap this up with. So you gotta leave the audience with one thing. So a one minute segment here. Whether it's a quote, a thought piece of advice a book that you've. Read that you want to share whatever it is doesn't matter. What it is one thing you've got to leave the audience with what would that be? So man, you're asking the hard questions. Yeah. When I when I think about one thing just just one thing that kind of leave the audience with I want to say this when it comes to just talking about what we're talking about reaching our goals getting started in real estate, all this good stuff. Right. The single most thing that has helped me personally through this journey is something that I just probably started really honing in on. But the single most in that has helped me through this journey is first off knowing your goals, knowing your why I know that it's cliche. But but but stick with me because just just having that clarity. Josh having having that clarity of what exactly it is. That you want when it is that you wanna be a specific as possible knowing that goal and then taking that goal. Let's just put it here on a pedestal. Right. Let's now reverse engineer from that goal and figure out the steps to get to that go. So let's just say this is three ergo if I want to be XYZ in three years right over the next two years or certain series of tasks that I need to perform certain milestones need to hit. And it's going to be daunting, especially for three or even when. Goes it's very daunting think that while it's January of twenty nine hundred zero recording. This I have a goal to hit by the end of the year. If I know that I have a whole year to hit this goal. Parkinson's law is going to make me procrastinate. You gotta wait you're gonna you're gonna do this. You're flat line and then hockey stick at the end of the. Yeah. Exactly. Right. And I think about that. I'm just like man like most people say that you overestimate. We can do you understand what we could do in five years. But what I've realized is that if you can compartmentalize your your goals, right? If you can if you can break down that three ago, and so what what needs to be done by the end of year one. So that I can meet my career goal. So you're three ago. Maybe it's a monetary value. I need to make ninety thousand in three like over the next three years willing gear when on you make thirty thousand how do I how do I make thirty thousand dollars a year one? What do I need to do when to make thirty thousand dollars? And then you break that down. Well, okay. What do I need to do this month? You think about that in terms of real estate, and you think about lead indicators, well, what lead indicators going to propel me to make thirty thousand dollars while that means I need to make a certain amount of offers. Right. So if I make this amount of offers, that's what I'm doing this month thirty offers this month. I know that every thirty offers I'm making Monaco's on one you when you start breaking it down like that micro cents. You're going to be so shocked at how it is you achieve your goals. How it is. You get your goal. You'll be trouble for you know, it. So one thing I've done is rather than having these yearly goals to help me. Keep Sakina accountable for my long-term. My Big Sky goals. I now have twelve week goals have a twelve week year. There's a book called the salvage yard just look by now have twelve week goals because I think down my year into twelve weeks because you can see out while you can plan out for twelve weeks. You can literally plan by the day for you can't by day for a year you can plan by the day for twelve weeks. And if you had the. Going back to Parkinson's law. Guys, know parks is always look it up has this segment, but one the Parkinson's not if if you if you have a twelve week, oh, you're gonna it's going to be so much easier to achieve that goal than if it was a one year goal. So my biggest takeaway, my biggest piece of advice is one write down your goals every single day. This is coming from somebody. Who's only done this one time who's just started doing this who has seventeen days in. I'm doing this. And I've seen massive results. Seventeen days ain't guys like this is January seventeenth is we're recording. This episode is going to be released, but seventeen days I've seen massive results by just writing down my goals every single day. Right. So that's one right here. Whether a single day in two, I know you're going to be a big proponent of this. Because on my episode on your episode on my podcast. We literally talked about this up solar which was a mastermind, but one write down your goals every single day in to tell one or two people your goals every single week. If you do those. Two things in twenty nine thousand nine I guarantee you prosperity and success. That's awesome. Absolutely on board with that. So that's great stuff. Well, we've reshaped you being on man. It's been a great show d'auray if somebody wanted to get in contact with you, maybe learn more about you, obviously what we mentioned the podcast multiple times. So before the linens podcast. It's on all the podcasts. Pop firms. Just go search for it. But somebody wanted to get in contact with you, maybe a website Email address, or whatever it is. What is the best way to make that happen? You know, we talked about earlier this year. I'm no longer referring people to a website or my Email. Hey, if you wanna contact with me, let's let's literally connect let's follow each other on social media. Find me on Facebook. Find me on Instagram, but I was my platform of choice. My Instagram handle is my name my first and last name all LA D, A R A Y, and I should pop up. Just because my last name is a bit tricky for a lot of people share it makes it easier for you just head over to my website or type in before the millions dot com forward slash Instagram. And it will take you straight to my Instagram. And that's how we could connect let let me know that you've heard on me you've heard of me on the good success. Podcast. And let's connect let's figure out what your goals are. Let's figure out how I can help. Let's figure out their phone if we can can have some type of relationship, I builds grows like me. And Josh I'd love that. It's all about relationships here. It's not about how much you know. It's about who, you know. So let's connect love it. Awesome self. So make sure you guys yet. One more time before the millions dot com is where you can learn more about him in the podcast. And then also makes you connect with them on social media. I've already done it. So it's been great. But d'auray man, we appreciate you being on the show today. Thank you for having me on your show as well. And I look forward to having you back soon. Awesome. Awesome. Thank you so much for the things that you're doing in this community joshes, simply Mazen again, I told you episode on my podcast that there are a lot of investors out there. But there are very few investors who do this giveback portion like the point of other people who are teaching what it is. If they're learning you're one of those people, and I'm one of those people saw I'm glad that we were able to connect on by the way, but advice guardian so thank you so much.

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BTM110: Work the Room & Build Financial Relationships with Rob Wilson

Before the Millions

1:05:36 hr | 1 year ago

BTM110: Work the Room & Build Financial Relationships with Rob Wilson

"This is darriel Aaliyah, and you're listening to the for the millions podcast. Episode one hundred and ten are you ready to be the master architect of your life? Are you ready to design your business and invest the needs that compete the lifestyle you've always dreamt up? 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 am an investor and you're listening to the before the millions podcast. Hey bear. My name is Heather haven would marketing coach and global entrepreneur and you are listening to the before the millions podcasts. Hey, this is Marcus, crispy host of the seven minute mental podcast, global entrepreneur all round geek. And you listen to the befall the millions podcast, I am MC Laubscher, the cash loon injure, and you're listening to before the millions bought cost. You're listening to the before the millions cast a whether you're looking to invest. Cashflow all building online business. That allows you to be location, independent, you come to the right place. Mr. Hollywood himself presents the be four. The millions podcast you now your rose d'auray. Was going on Tim community or back for another installment another episode of the before the millions podcast and this is episode one one zero episode one ten and we are talking by Nansha relationships. We are talking networking. We're talking brand building. We're talking just working the room, and we've said it a few times on the show, but we are not in the real estate business. We are in the relationship business. And our guest today shows actually coined the hip hop adviser. He advises many clients in the hip hop world and many, many superstar athletes today. He's actually going to advise us on how he got to where he is today. We're gonna talk to rob Wilson and talk about his before the million story. We're gonna talk about how he started rubbing shoulders with some of the most fluent people here and how we built in gain their trust enough to become their financial advice. And we're also going to give you guys insights on the best way to attend social events by yourself, how to work the room how to network to start building these relationships rather than going to these events and not really coming away with anything. We're talking to a ton of people in not really building a solid foundation with anybody. We're gonna talk about exactly how you can work the room in build your financial relationship. Rob drops three amazing book recommendations on this subject alone. So again, this is a big gray area for you. And you're just like I know how important relationships are in real estate. But you just don't have a grasp on this yet. First and foremost, open all of that wide open for you for a second off. Let me give you the three recommended books, that rob suggests that you guys take a deep dive into, if you really, really are serious about getting better at building these relationships. So book number one is never eat alone. Book number two, his work the Rhone and book number three is how to win friends and influence people. Now, rob is going to go into a little bit more detail on some of these books on the show and. None of these books are his before the main spoke of the week. So stay tuned for that as well. But the reason that I'm mentioning these books now. So you guys have a head start before the episode starts is that if you guys want to go ahead and listen to these books for free or on me, you guys can actually go ahead and visit before the millions dot com for slash book, and you can listen to tool of these books for free by signing up for monthly membership which I've had at this point for over three years. Speaking of books, I've personally read a little over one hundred books at this point. And I still have a running list along running list of books. I have yet to read, so I've taken the next by books on my book lists. And I've added them to my audible carp to get them ready for consumption this week and next week one is called the monk who sold his Ferrari, and actually have to buy that author his name is Robin Sherma in the second book that to my cart by him as the five eight m club is book is all about. Owning your morning elevate. Eating your life, and I believe this book is actually going to highlight, how like the geniuses in, like the business titans of the world have really just started their mornings in what they do that. So different from everybody else again, haven't read the book yet, but so far it reminds me of the miracle morning by how Elrod speaking of how one of his books when of his newest books actually has very newest book that just came out. I think like last month is on my booklets as well, but we'll get to that. That's become. My list is a book. I've already read before, and it is called think, and grow rich a black choice. Now I read this book back in twenty seventeen I believe and those amazing. Now, this book is by Dennis kimbro. And the reason I'm going back to read this book is because I remember how powerful I felt reading this book the first time around I remembered some of my initial actions, some of the initial things that I decided to do immediately after. Reading this book. I remember some implementations that had. And I know that this is going to be a great book, that's going to help me reinforce some of those practices, and some of my mindset police. So I'm going back to read this book, two years later again, it's thinking grow rich, a black choice next book on my book loose. Yes. Probably won't care about some skip. Right over it. But it's a book that helps you sharpen your Spanish skills. Now Spanish is on its way to becoming my third language, and I've taken tons of Spanish courses throughout school in. It's just that a haven't dedicated time focused, really, really take this seriously and pick up a third language. So I think this book will give me the jump start that I need to really, really take this, this time round, but we'll see the last book that I have in my cart is a book called the miracle equation. Now you've met you may have heard of the miracle morning, you may have heard of the miracle diet. This is how Iraq's new installment called the miracle equation. And this is where everything kinda stems. From I mean he came up with the equation, far before he came up with the miracle morning. If you don't know what the miracle morning is go. Check out his book miracle morning right now in the hope you create in design your own personal morning routine for success. So those are the five books currently in my car. Now, my booklets is about a mile long out of all of those books that I have yet to read these very five next books that I'm gonna read. I'm pretty sure all of these books are gonna get knocked out within the next week or two. Now, if you haven't already checked out any of these books, or you wanna join along on this ride with me, again, you can get your next who audio books four free complimentary on me. Just head over to before the millions dot com for slash book, and start listening to your next or first free audiobook today. If we're not already connected on social media, or you're not a part of my community yet, head over to before the man's dot com for slash group where we share valuable talks insights, QNA's a goodies giveaways and up. It's a community of people who are all. Investors are aspiring investors in were uplifting, encouraging each other. So it's beautiful head over to before the dot com. Forward slash group. Get plugged into the tribe get plugged into the community and start building, these relationships Geist relationships are so important if you want to connect with me personally head over to Instagram -ment. Let's connect veer shoot me a DM, let me know that you listen to podcasts. My Instagram handle is derived Australia. That's the. R. A. Y. O. L A, L, E, Y E last. But not least guys last week was our two year anniversary nine shop than episode titled call reluctance, now, this episode has has cut in fire because so many people have struggled struggled in their business to keep business moving forward to bring new money in the door to increase revenue to get face to face with clients with sellers wit context with buyers with investors. So in addition to this financial relationship episode head on. I'm back to the last episode episode one. Oh, nine titled hall, reluctance, and I'm gonna show you exactly where some of your fears are lying, and how Carla does is really what's holding a lot of people back from growing their business. So I love the episodes as a tandem because it's like, hey, these episodes are showing you how important it is to build relationships to get out there on talk to people. Okay. So that's all I have for you guys for the intro. Let's go ahead and get into the tip of the week. And then we'll be right into the show with Mr. rob Wilson to raise of the week. Now in the spirit of relationships building relationships, fostering amazing relationships and just kinda working the room, right in not really knowing where the compensation going to go. But putting yourself in a position to succeed to let other people know that you're here to serve, and how you can serve in the weeks that we are actually going to create your value proposition statement, this is something I do with my mastermind members and we have a full fledged like we've had weeks and weeks and weeks of training on this. But I'm going to sink some of this stuff for you guys in about two minutes. So let's create your value proposition statement you may know this as maybe like an elevator pitch. Or maybe you're opener. But these things are there for you to creating gate with somebody who may otherwise not engage with you. In the way that you. I'd like them to most people, they walk up to other individuals at conferences with business cards, and they don't have any formal training on this. I'm not surprised by this happens. And I mean, I done this many times, actually, I still do this to this day because it's not always at the forefront of my mind. So again, I get slipped up all the time. But most people walk up to other people that say, hey, my name is doray. I'm relisted entrepreneur and business mentor and. What's your name? What do you do? We get the talking. And then, you know, maybe they're asking me if you questions I'm asking them questions. You're a realtor. Oh, how long have you been in business for you guys? Kind of just try to find different avenues of connecting. And oftentimes these lead to a lot of awkward conversations. Nobody really knows when to end the conversation and it's very hard to figure out where your skills and services align, when you have this approach, especially with to untrained people. So most of the time you walk away from these conversations with net thing that you've remembered about this person nothing that you have that can possibly foster relationships in the business card that you do have you're probably gonna throw that away night. Put it too much use, you may Email them once. Because again, you didn't really build a connection, first and foremost in second off, you don't really know how you can help her serve them. But if you approach the sich. Situations. Maybe an elevator pitch value proposition statement in set of saying, I'm a real estate investor to let them know exactly what you do who you serve in how you serve them, then this person has one of three options because you've gotten really really specific on what you do this person's either gonna be like, hey, you can help me is the best possible option because, I mean, that means you just down to new client. You just found in customer, right? So that's option. Number one option. Number two, they're gonna immediately. Think about the person that you can help. That's dealing with that exact problem right now. Yes. Yes, my, my friend, Sally. She's looking to sell her house like immediately and she's about to start calling realtors. And this may actually be a better option because, now you have to new relationships and one of them is actually a new client option. Number three, you can't help them. There's probably nobody in their obscenity that you can't help at this time. But because you were really really current who you are in the value that you provide this person's gonna. Number six weeks later when he's in the conversation with somebody who need your help. He's going to be like, hey, I know Lou just the person that you need to speak to. So those are the three outcomes when you have a well-crafted elevator pitch. And when you have a well-crafted value proposition statement, so recently me, I'm a mastermind members created their whole mission statements. And this is like a full fledge page-long mission statement, not from this mission statement, you can create a one or two or three line value proposition statement. So that's what we're going to do here today, guys and I'm gonna make it really really simple for you guys four liner. Guys. Four line value proposition. Statement line wine, is your professional identity. I am a real estate coach. I am a business mentor. I am a wholesaler. I am a realtor. Number two, on the second line. You're going to fill out who you help to who is your target audience. You may not know exactly what I mean by target audience. Because I like to get really really specific down to the person's age, who they are what they like to eat the places that like to visit, that's how grandeur forget. But again, for the purpose of this, exercise who is your target audience in, in just a few short words, and then what do you help them do for line three? So either you help them. Do something or you help them under stand something. And this is your solution, or, or this is your offer. Right. But that's not because a lot of people who actually do this stop fair. But this is where you promise the transformation, are you promise how they get from point a to point b so that they see the bigger picture so line four is sold that and then you fill out, your promise so again, line one, I am your professional identity line to. I hope your target audience. Lying three I helped them do slash understand. Whatever your solution is, and the line four, so that they can blah, blah, blah, blah, blah. So if you are an HR professional, you are. In elevator, s why I call it an elevator pitch because this is the time we can get out, like a quick, ten fifteen twenty second pitch max and you surrounded with executives and associates and things of that nature. I mean, hey, this is your value proposition statement. I am an HR manager. I helped those who have recently been promoted to senior leadership squash, their feelings of inadequacy so that they can lead with confidence and vision. Can you tell them exactly who you are how you can help and what's going to happen after you've helped them? So I am an HR manager. I helped those who have recently been promoted. So that's your target market people who have recently been promoted to senior leadership can get really specific not just any type of motion, but people who've been recently promoted to senior leadership. Now, you help those people do what, which are solution, which are offer, what do you help them do or what you help them understand. So you help them squash. Their feelings of inadequacy why would I wanna do that? Why would I want to squash those feelings? So then line four is so that they can lead with confidence. Envision I am local Nevada. Small business consultant, I help small business owners eliminate the stress fear anxiety related to inconsistent income by showing them how to achieve reliable and predictable blows of prophet through automated marketing, I'm a business coach. I hope overworked business owners attract more paying clients, so that they can make more money with less time in effort guys. You understand some, some of these examples where I'm going with this? I am a real estate investor. I am a real estate agent. I am a broker. Doesn't matter. I help motivated settlers through the process of selling their home so that they can finally relax and have a smooth and quick transition to their brand new living arrangement. I am a podcast guys. I'm just coming up with these off the top of my head really literally, I helped listeners in the professional space understand that financial freedom is a real think, and that they can achieve it so that they can go off in travel and live the life of their drinks. Guys wanted to keep going. I think I think we got a good idea of, which are value proposition statement is and how this can be crafted into your elevator pitch. Okay. Now let's get into the meat and potatoes of this episode by Nanteuil relationships and how to, cultivate, and grow these relationships and now your feature presentation. The hip hop financial advisor, Mr. rob Wilson route. How's it going today? I'm fantastic, man. Hour you I'm doing pretty well. I hope you don't mind that I call you that I know that's not the only lane that you're in, but that is one of your many facet. So why do people call you the hip hop advisor? So people that were close to me, sort of started calling me that as I started to grow my business in working with pro athletes men entertainers, and so it was sort of, like, you know, I'm the new-generation advisor Jeffrey not. You know, your grandfather's, but as visor who wants to do seminars at the Holiday Inn, you know, call up. Oh, ladies all day, try to get to roll over your IRA's. I'm sort of the new generation with a new fresh set of principles advice that I think folks who are younger and, you know, either a fluent already or trying to get to that place can rarely identify with. So that's kind of how that Monica of get stuck on me. What sparked your interest in finance? First and foremost. Was this, something that you cultivated as a way earlier on was something that didn't really hit home for you until college. What kind of sparked all of is for you? Well, what I was saying is, is that I do think that I was born some kind of way wanting to own things, or, or run mayo thing, some of this might be the only Chow syndrome. Right. So I'm I'm my mother's only child. And so I had the entertain myself a lot in. So I be up in my room playing or you know, she got a computer started coating on the computer, but just, you know, thinking of things that I could create. And so when I was very, very young, I wanted to have my own clubs and so on and so forth when I got a little bit older, and I wanted to buy things that my mother didn't necessarily wanna buy for me started trying to think about ways that I could earn money by those things. So I remember one of the earliest things that I wanted to buy out really dating myself here a little bit. But I wanted to go buy a new record from jazzy Jefferson fresh prints. And from what reason or another student as -sarily wanna get that for, you know, your parents did really like a rap music when it was coming up. But hey, she said, you know, if you make your money you can do that. And so what I did was start a store out of our house, because we live sort of in-between where a lot of people had to walk past our house to get to the pool in the neighborhood as I started selling pizza, and soda and popcorn and pretzels in these sorts of bangs, just, you know, snacks that people will want to, you know what it walking to from the pool, and I was able to make money that way. And I could go, you know, by whatever worker that I was so that was one of my earliest, I think, memories that I have of wanting to be an entrepreneur and pursue ways to make money. So they're not a direct my money where I wanted to go in and things just sort of blossomed from there. What examples were prominent in your life at that time of such a Pat? I mean what was mom moves dad? What were the grandparents during and? Was there something or was there, some some ignition to, to emulate like that? That type of pather that type of drive to want to be so entrepeneurship. You know, that's interesting because there really wasn't my mother, you know, while I was very young was working as a ministry of assistant Manila, she had she had come down with multiple sclerosis, and so she wasn't working my father was a custodian for the public schools in the area as though there wasn't necessarily a super neural blueprint. So that's why I'm kinda like I don't know where it came from either is just something perhaps, you know, I was born within in, you know, I don't know how that got instilled in me, but there was this sort of desire to be independent, and I think would identified, you know, very early on the way that you become independent is to be in control of your finances into be built with your money. And so, you know, we were wealthy growing up, and you know with my mother claimed our multiple sclerosis. I. I had to become very mature at a younger age, I had to help her write out checks. She couldn't ride them herself. And so Consequently, I, I saw a little bit of what the household fight as look like. And you know that colored a lot of my desires again, for later life to not have to be in a position Ryan struggled had decide which which was I gonna pay right now. Which was I gonna kinda wait. You know a few weeks, the pay in. So I think those experiences as well. You know, having to be mature at an earlier age, in having that responsibility. Knowing what was going on the household finances, that probably pushed more towards you know, the things that I'm doing now that necessarily having entrepreneurial, typical Uber. Let's fast forward a little bit. What was life like in high school where you had you already started a few other businesses at this time, because you understood what you were doing. You are able to make a little bit more money and you saw how you were able to make white make income and provide for your family. Was it something that kind of went in the back burner? What were you taking classes? Are you drawn to classes that were financial classes are accounting classes? I talk about high school life really, really pick worse. Yeah. High school was was awesome. I was involved in everything, I was class president or no student government, president my senior year in all the activities that I could possibly get involved in. I was evolved in necessarily have any businesses per se while I was in high school, but I did work and so the moment that I could get a work permit I went out and started interviewing and I got a job in. So I, I got was as a employee in dining service at Carnegie, Mellon University, which was, you know, fairly close to my high school. So I could just jump on the bus go there to work after school. And I ended up working there for six years. I worked there for a couple years while I was in high school. And then I worked there all throughout college. And as a matter of fact, once I got to college, they end up making me a student manager, even though I wasn't a student at card. Carnegie Mellon at the time, I would say, the university of Pittsburgh undergrad. I ended up going according to Mellon for grad school, which is a weird, you know, how things come full circle, but they appreciate it. My work ethic so much that even though I didn't go to school there. They made me as student manager and a head tons of responsibility at a very young, as I mean, it had kings to everything in that building, I would close the restaurant sometimes have to count, the registered for the money in the say so rob really quick. What was driving? You will. Why do you think your work ethic wants what it was at that time a? Yeah. That's a good question. I will say that. I do think a lot of my work ethic came from my father, you know, he worked just a lot. You know, to provide for me, recipes family, and so on, and so forth. And so yet, a lot, a lot of work ethic, that I have picked up definitely came from my father seeing him get up and go to work every day and have multiple different jobs. You leave his main job work. Another. Job on the weekends evenings, and so on, and so forth. So I understood it you know, if there's thing that you want, you really have to work hard for it, nobody's going to Hannity. So that's where I got a lot of that from, my, that's what I say, on the first page of my book, is that the work ethic that he instilled in me at a very young age has helped me achieve a writer, things that I've achieved in my life in, you know, like I said, when I was at Carnegie Mellon, they said, hey, we like you, you know, let's give you some more responsibility. So at definitely helped map regression to have that kind of responsibility at a at a fairly young age were there any patterns that you initially had in your early entrepreneurial journey that you realize for patterns, produced because of the beliefs that you had around money or the beliefs that you that your parents had around money, I think about the fact that as influential as your dad was in as mazing as he said, an example for you to work hard. You also are adopting, the belief or maybe you're not adopting to believe patrol. So adopting, a belief that the harder, I work the more money I can make the more hours. I stretch myself. More money I could make. So I know that now you found a way to you by Ansari free, which is totally opposite of how that was back then. But these belief systems were implanted in you per side. Did you did you start to recognize some of these beliefs in, in, if you did, what did you do to start shifting some of these rakes? Yeah. That's a really also good question, because, you know, a lot of how we manage our money, the way we deal with other people the way we head or relationships are colored by what we learned when we are very young. And so, I did learn the work ethic, but I think being, you know, I was a first generation college student. And so as I began to go to college, I did realize that up to a certain point, you know, by parents were going to be able to help me anymore in a major way not that they couldn't support me do all of those sorts of things. But I was embarking on something that they had, I was going to a place that they had never been. So there's only so much that they provide. For me, having not had that experience before. So I knew that okay. I'm going into a new thing I'm kinda going to have to figure this out on my own. And what I did start to realize the way, my, my thoughts and feelings evolved, is that, yes, working hard is absolutely important. And critical is expected. But what I did start to realize is that the people who works smart with folks were really able to leverage their work ethic delivers their times the levers their abilities in ultima build the type of wealth that I felt like I wanted to be able to build in the future. And so it also that might come from a studied engineering, as an undergrad, and so as Pacific industrial engineer, which is about making things better faster and cheaper. And so I think we all want to do things a little bit better. A little bit bigger than perhaps our parents did. And so I, I sort of melded though. Those two pieces of information, would I gain from my parents would have started to learn as a student, higher education, and that has soared to found the foundation form the foundation for the philosophies that I have today? Rob take us across this bridge, because in undergrad, you said that you studied industrial engineering, and I think I read somewhere in your bio right before the call that you work for a professional services from you worked for Deloitte. I worked for big four as well. So I'm wondering when in why the transition? So when I when I came out of undergrad, what to go work for Deloitte. I loved it because they paid me. Well, I traveled all the time wrecked blabbermouth hotel points. You've studied industrial engineering and then you went to go work for Deloitte. Did. How did our why we're in consulting? I worked on the consulting side, not the audit tax side. So I was doing IT consulting at Deloitte, where we worked for a lot of big banks that worked for, you know. Number state and local agencies owner so Ford so, yeah, I was, I was on the IT side. And so, again, it was great baby will travel for flyer miles, hotel points, vacations, or so forth. Again, trying to be perceptive in terms of figuring out how can I grow my success at this firm, long-term would I fell was that the people who were really successful weren't necessarily, the techie guys like me? They were folks who were going out building business, bringing in new clients. So on and so forth, and I said, I didn't want to be pigeonholed as the techie guy forever. So I decided to go back to school and get my MBA with my, my feeling being that. I would go back to the firm get on partner track, and so on and so forth. While I was there though my interest started to change a little bit while I loved it at Deloitte, at a started to think about what they built me out at versus what I took home. My salary was was great. I thought that I could get. What does that mean to the people were not familiar, what's at what I build you out at and what you actually succumb? Oh sure, so I don't know the exact numbers now but let's just say they Bill me out at, you know, four hundred dollars an hour. Right. May maybe they pay me, fifteen dollars an hour or something. You know something of that nature. So I thought that I could get probably a little bit bigger that piece of that pie. So started to explore some other things, I interned in investment, banking, during the first and second year in between the first year business school that environment was really dislike insulting. So I figured if I was gonna do that, I would just go back to consult, but I also entered for a financial advisor Merrill, Lynch. And she happened to work with some professional athletes entertainers in so through that experience with her. I said, you know what I think I could probably do that. And what I liked about that career path was that I felt like I could do well for myself because I saw a lot of finish. Advisors who were successful but I could also do. Good for other people in those two things didn't need to be mutually exclusive, and so that really drew me to it, and I like the aspect of. Listen, if I want to do better, I need to go out and find more clients, I didn't necessarily want to go to the aspect of going back to corporate where I had to wait for somebody else to decide. Oh, we think we think you're ready to make more money. Now, we think you're ready to have increased title. I just did it like that. I didn't want somebody else in control of my destiny in that way. But I'm, I'm okay with if I go out and eat, what I kill if I want more money, make more clients. So that's where the ship game. Although we'll say this. I feel like I will always be engineer. I'm an engineer at heart. I just happened to be applying those principles now in the financial business on the other that now, now let's, let's kinda get a little bit more present. And maybe not so present. But you started to build up your clientele law. Me through the process of building relationships. And, and some of the key things key distinctions you experience, as you started earlier on building relationships, maybe like a failure, or a relationship that you didn't quite get what you wanted to you realize what you did, and we could all take from that and learn from that from that situation. Sure, will the financial industry is funny because especially the financial advisor even at the big firms in our word starting my financial career Smith. Barney, they give you a phone in desk, and they say get to work and you gotta figure it out. And so, I knew that I wanted to work with pro athletes entertainers because I knew that they had a need that I could solve real quickly grump. We're going to get back to this question. But you just touched on something you've had a need that you could solve one, one draw on, on your confidence level, that you could solve this need in what you've experienced up until this point, that gave you that confidence citrical solve this need before we kinda gets you building these relationships. Well, let me also say that that confidence was evolved over time. Because I was I was definitely in a new industry and one of the things that I had to get comfortable with. Listen, I'm pretty social guy got a lot of friends. I like hanging out, but a lot of times that I would go places socially hours, always with. So what? So now I get thrown into this sale situation where I need to be out at all of these events and have people see my face so that I can't build those relationships built my business. But guess what my friends don't wanna go to those events, or, and, or they're not even invited to them. Right. So I had to get super comfortable, very, very quickly with going to all of these places by myself in feeling comfortable in my own skin walking in a room where I may not know most of the of the people there, but being able to strike up conversations again, built Bill relationship building network that way it wasn't the most comfortable thing to do at first. But, you know, when you realize that you sound for this life in. Something that's into to your success than you. You figure it out, you know pretty quickly. So I had to do that. But, you know, in terms of failure, one of the things that you deal with when you're in this type of business, really any business. But specifically when you're in sales is that people are going to tell you know, it's difficult at the very beginning not to take it personally. There were a lot of people who I felt would just work with me just because I felt like oh, soon as I start while they're going to open up accounts with me, and it didn't necessarily work out that way. And so you can start to ask yourself with what is it about me? What do I need to do better? Why don't they wanna work with me, but not realizing initially that it's not about you. Sometimes people are ready to do business with anyone sometimes, especially in the financial industry. They don't necessarily want their business in the street, so to speak with people who they may be close to her in close social networks with. So there are a lot of different factors that come into play with who's. Gonna work with you or not in there were a lot of failures in the beginning and a lot of having to deal with getting told. No. But I built up a very thick skin in those early couple years that I was s McBurney. Look, they had me sitting there cold calling all day. So I would sit at my desk and cold called people for eight hours. Okay. So you call a hundred people in a day, you know, fifty people are just gonna hang up on you twenty people. We'll talk to you for minute until you that they're not interested in the rest may give you a little bit of the time of day. And you may set up a few appointments that takes some getting used to because people don't the average person doesn't have to deal with that level of rejection. You know, on a day-to-day basis, but it helps you build up a thick skin in helps you learn how to deal with objections so that you can eventually get to the point where where people will, you know, you can make the sale, and people will work with you on the and I have a million in one questions in a million, and one thoughts. A ton of different directions. And before we started the interview, rob another, man. You talked about, like kind of talking about financial plan, but as we've kind of unraveled your life and your story, I think that and I'm not sure who this is going to be four. That's listening. But I think that the rest of this conversation will be best served with us talking about relationship building in connecting with others. I think that for you and for many others. There's a tipping point right to where you start out in an industry. You start out in the field, or whatever it is doing. And like you said, you're hunting. You're killing your hunting than you're killing it gets to a point to where you do enough of that to where you build up your business in a certain way and then people start coming to look for you. Right. So before we get to that tipping point. Walk me through some of the early stage game pines like you're walking to these. I mean you're coming into these, maybe you're going to dinners, maybe you're going to meet ups, maybe you're going to conferences and events. What's your game plan what you have on you? What are you pitching? How are you? Pitching walk us through like your specific, like I know you're an engineer, right? So you probably have specific institute doing a specific or Mula of climbing injury to attend, like walk us through some of the some of the game plans that you had back then before you got that tipping point. Well, it was probably less systematic than you would think it'd be getting it was it was, basically to everything that I could possibly go to right. You wanna get as many at bats as you possibly can. And then you have to make sure when you're in the environment that you freeze because you may never see certain people again. You may come into contact with certain people in his in his in that moment where you have to strike, or you miss your opportunity. Right. But at the same time, here's the delicate balance that you have to walk is that you can't go. It's one of these room saying, oh, I'm trying to meet everybody so that you're talking to one person. But then you keep looking out of this out of your eye for who else is walking by zone so bored, because I guys at the club. Exactly right. So eighty you're gonna talk to her or you're going to be looking for everybody else. But you gotta pick one. Right. So, you know, my strategy was, you know, can I go in here and can I at least come out with a few good relationships, you know, not I'm just trying to carpet bomb everybody with my business guard because that's not to people are gonna throw those away. They could care less. Right. But can I go in here? And can I really connect with a few of the people here? Now, if I did know in advance some of the folks, who were going to be there, then certainly I was more strategic about trying to meet them or get introduced new. But if it was a situation where I didn't know who was going to be there. It was more or less. Let's go in and try to make a real connection because you never know where it could go. I know people think that it's a numbers game in into some degree. It is, but large numbers with no connection is not going to help you. So I tried to go in and really meet people. Learn about them. See how I get. Help I before I ever asked them for anything in unselected that was the right way to go, where there were there any south outlooks in your in your sphere that you were kind of holding. You're saying to at the time though question on a book called never eat alone was one of the first books that I read, which is a great just primer on networking, and it was actually written by guy who used to work at Deloitte. Keep Rasi was the chief marketing officer around the time when I was at Deloitte. So that was great how to work, a room soon ruin is a great book, how to win friends and influence people Dale Carnegie, those are just absolute. Timeless classic books that I think everybody should read, if you're getting into any kind of sales, or relationship-building role album, are we allowed to name some of your clients or someone get past clients ones that people make sure you know, worked with? So I worked with football players that have collectively signed about over half a billion dollars NFL contracts. So, you know, one of my best long term clients. In fact, he was in my wedding was Sean Spencer who played for the forty Niners for seven years raiders for one I work with guy. Mike Adams, play the reason flavor Carolina Panthers winning the league for thirteen years. Unbelievable undrafted as played leave thirteen years. Some ROY how did you just one of those one of those guys me through, how you built that relationship in high you got how you got from? Hey, I don't know who rob Wilson is. So now this is my financial adviser. Sure. So I will say that. Okay. So we go back to I was born in new Window World with at least had no idea, how to do it, but you gotta start somewhere. So a reached out to a friend of mine from high school who had made it to the league in just started asking him every single question that I possibly could, you know, in a head some other friends played college college basketball, and they started. Introducing me to, to, to folks. So it was a little bit organic in you just you just find a way you know, you talk about seven degrees, or six degrees of separation. You'd be surpr-. Prized how close you are to people that you really wanna meet, if you're not afraid to start asking people who they know or how you can get introduced, but a lot of people don't want to ask. So you're closer to new thing, so I started to make mile away would really excel A-Rated things for me is that are partnered up with someone while I was asked with Barney, who is already doing this business in a big way. And so instead of going to potential client and saying, you know, I work with, you know, three or four or five guys, I can say that we work with, you know, thirty guys so different conversation to have when you're sitting down with a with a, a potential client. So I definitely started to grow it, organically on my own. And then, you know, my managing director said, AM, I think it makes sense for you guys, the partner up if you're going to be the same space, so that accelerated things for me, but the way that I've because I'm so I'm totally solo. Now, I still work with that clientele. The way that I've sort of built my relationship with those folks is by being. Honest, and trustworthy, and not pulling any punches, a lot of times when you have people who work with celebrity types, a lot of those people just want to hang on, as long as they can get paid. I was never wanted to run my business that way, I never wanted to not give somebody the advice that I would give because I was afraid that they might fire, you know, I would rather them fire me, and I be able to sleep at night, then, you know, not being true, what I what I feel like the best advice for them is in. So sure, I've, I've been fired before by by customers that's going to happen. But I again, I can sleep at night knowing that I was doing the right thing, you know, not just sort of trying to hang around just to get a paycheck. I wanna maybe go into that wound a little bit more, because I feel like that's where we're we'll find some of the gold you get fired by client. What does that do to your confidence level? Maybe your first time you've ever got fired by what would that do to your conference confidence level? Digital did you run? You know, took away for a couple of. Months into where you're just like maybe I'm not cut out for this. Did you ever have any of those experiences and, and what do you do to get yourself alignment? You know, if it helps what questions you ask your so. Yeah. You give fire by client it hurts, especially in this business because it is it is very personal. You know, I'm not selling copiers, you know, I'm trying to help people, you know, live their best life through managing their, their finances is, so when you get when you get fire by Kleiner decides to move their account somewhere else, it hurts it hurts. And so the first the first couple yet definitely not I didn't have the luxury to be able to pull back for a couple of months. You know, you have to keep your business going. But yet as it does this shake you up for a few days or week, Zona. So, for the, you know, maybe do you make a little bit less sales calls, you know, during that following week as you're trying to figure everything out yet. Definitely, I I'm sure I work through that. So it hurts. I can't deny that. But. As you can see you to go along. You realize that some of your clients will be great friends again, when one of my clients was in my wedding but other of those relationships are going to be close. But at the end of the day, it is a business relationship, and you have to realize that you're not married to these folks. And so it's okay when you get a client, you're not necessarily going to have them forever. It's okay for relationships run its course and you know, things will go on as a matter of fact, you may even still be friendly with them after they moved onto a different business situation. So, you know, it takes awhile believe me to divorce your personal feelings with your business relationships. But the sooner that you can do that. I think the better off you'll be so these days, what is what is your? So I know it's improved drastically. But what is your self talk? Now, what is what do you feel about yourself worth whenever something like that happens? Now again, I know it's totally different than back, then it's much more probably focused on the line. Then it's a reflection of something that's other other than, you know, the product that you've produce. Oh, what's that self talk today, yet the so talk is a lot different. Right. So it's a lot different just to put it in the sports framework, your thoughts and feelings about yourself. We're going to be different after you have a couple rings than they will be when you're a rookie. Right. So when you put up some numbers yourself talk is going to be definitely different. Not that maybe sometimes I don't have bad days, just like everybody else. But now I can walk into a room and I can confidently go in there feeling, like I have the cure for cancer, you know, one of the things that I say, in the book, is that if you can't rock in someplace feeling like you have the river cancer, regardless of whether you're selling a product or whether you just are selling yourself. You know, whether just the professional, if you can't walk in there feeling that way, then you're probably selling the wrong thing, if it's a product or you need to up. Your game. If you don't feel confident talking about your own skill level. Right. So I know that seventy percent of NFL players are broke or bankrupt, or a serious, financial trouble, five years or actually, three years after they retire from the NFL fifty percent of NBA players broke five years after the game already know that there is a huge problem out there that they continue to have every time I think I've heard everything another guy has similar problems. And I know that my process has worked, it has been very beneficial to people that I've been able to work with, so, yeah, I can lean back on that and say, listen. I know that I have achieved things I have proven results. So it doesn't bother me. Now if I go in walk in the room and I don't know anybody. But I see somebody who could potentially be my client. I'm going to offer something to him. Now look, everybody can't be your client apples, one of the biggest companies on the planet yet, not everyone. Owns an iphone right? So everyone is not your potential customer. And I came to grips with that. But if you walk into a room and you felt like you had to cure for cancer, you saw somebody that was struggling with that. I would venture to say that you wouldn't have a problem offering the solution it. And so that's how I broke thing I have cure for cancer. Not everybody has cancer. But if they do our offer it if they want it, great, if they don't more power to know for sure that analogy I love, I love it, because every single listener that hasn't business that's passionate about something that you're not passing it to the point where you don't feel like it's a cure for cancer, like you'd like people, people are not going to buy into whatever it is that, that is because you're not into that, right? So, so that's a that's a great distinction that she makes wear. You never cheer for cancer. Although you know, in parts of the world, they don't even know what a franchise is. But in your part of the warden Richard in the impact that you're making, this is life changing unloved that so. So kind of talk about some of that. What are you offering as financial advice? Or what are some of the things that you're doing the spice now? Yes. Oh, that's interesting. The way that I've run my business now is different than what people think of as finish advisors. As a matter of fact, most people who claim that they are quote unquote, financial advisers, or really just financial sales people, you know, I realized that when I was at Smith Barney, and this is the same brawler those firms, you know, they may have financial advisor on your business car, but I believe you are what you paid for, and I did not get paid to provide advice, I got paid to sell things. And so that's not the reason why I got into the business though in so I eventually volved when I started this for with a partner he, and I left, but Barney, right in January two thousand nine right in the middle of financial crisis. And so we, we moved a little bit more away from selling products and things when I decided to go completely solo in two thousand fourteen I don't sell any traditional. Essential products at all. So I'm not schlepping insurance policies that people annuities in those sorts of things my will manage investment portfolios in our provide financial planning services for people. So, for example, there might be young emerging fluent professionals attorneys doctors consultants, whatever who don't necessarily have a hundred thousand dollars portfolio. They manage but they do need the advising guidance so that they can get to that point. So that's why I put this financial planning program out there, so that could work with those folks in, they get ready when they do have the folio on the person that they work with. I have also created some courses in things for people who, who really wanna learn some of these financial topics. So I haven't intro to investing course, for someone who says it I didn't start talking about stock market at the dinner table. And they want to learn I have of course, for that than also developed a course that I call expert empire, which is where I teach people how to build profitable businesses around their unique combination of knowledge. Education experience expertise, because that's literally what I've done for my entire professional career. You know, I studied engineering and became a consultant I went back to school got my MBA became financial adviser mine, entire professional life has been monetize, mex- petits, and I would have so many people reach out to being particularly saying, hey, rob got all these student loans when I created the a young lady restocked, me and said, I have three hundred thousand dollars in student loans with do, I do, and they reach out to me because I think they feel like there's a trap door somewhere. They throw their student loans down they'll disappear. But because that doesn't exist. There's only a few things that you can do to dramatically change your life debate off, so you could go in Bangor, your bosses desk to get a raise hopefully, they pay you more could leave there and go to another job is gonna pay you more. You can get a second job because who doesn't want to work, eighty hours a week, or you can go out and start a business on the side. Well or time. Well, some businesses are cost prohibitive. You wanna go? A restaurant, you'd better have some capital to start that absent that one of the ways that I felt like it was the fastest most cost efficient way to change your mind as is to monetize, your expertise, whether that be through writing books, you know, being an author consultant coach seminar leader trainer whatever that might be monetize, your expertise that you already paid for that you have all of these student loans. By the way, you could start a business like that very quickly. And I'm just now hearing this. I said, I really hope it. I'm just now hearing this, this late in our interview we could we could have really got gotten into business as fascinating. I love or sure, but you know, you can start it very fast. And you could start berry inexpensively think about all of the tools that we have available to us that we could use for free. I mean the way that we're conducting this, call right now using software anything, think about Facebook and YouTube Lincoln Twitter, Snapchat, Pinterest, Instagram, all of these tools that you can use to reach potential customers for free or for very low cost. It's, it's insane. And by the way, if I would've told you I don't know, ten twelve years, that you would be able to pull the ten eighty p HD video camera out of your pocket on your phone and press a button. And in fifteen seconds, you could be broadcasting live to anyone on the planet with an internet connection. And, oh, by the way, you'll be able to do that for. Three if I were to told you that twelve years ago you would have called the psycho word on. Because it doesn't it doesn't make any sense in actually, it doesn't make any sense today. But that's where we're at. I don't know if it will always be that way, but there is a tremendous opportunity now. So I created that course to help folks in just in general for people who are really trying to get their financial life together. That's why I wrote the book that I just released call secure bag create the life you desire by managing your money like you mean it because, again, I had a lot of people reach out to me saying, you know, I don't know anything about money, doing well, but I don't know where my money's going or I'm not doing well in any to figure out how to do well, so I've been doing so much Macarena over the last fourteen years at have been in financial industry. I finally sat down. I can pout all of the concerts that are produce over the years and put it in one package. And hopefully it helps people started take control of your financial life. Ron this'll investment has been mazing interview. I think we've learned so much about relationship building so much about just financial systems in general. And got met you in Jamaica few weeks ago when we met, we had we met on dinner on the beach. So imagine that everybody to make on beach, and we got to talk and we were like, hey, let's get you on the podcast. So let's talk about your lifestyle design, and the typical individuals lifestyle is nothing like that. We're living. Why did you want this? Like, what, what made you what made you so different from everybody else that you were just like I cannot be in this box like you started in orbit in the general corporate scheme. Now you're your own boss. What, what gave you that this, I on talk about the lifestyle design that you wanted to create that you've now created for yourself again? I think it may be the only child syndrome, but I just liked being able to this beat them all drums to be in control of my own destiny. And I also think against say, my mother sort of struggle with the finances, but she figured it out. We're wearing another. I don't know how she did it. But, but seeing her struggle with something that I just I never wanted to have to do. And I. I knew that I wanted to enjoy my life at it necessarily want to go into the same place every single day. In do the same thing over and over and over again. I mean I had an internship in college at GE and look a great company. Right. But I just didn't want to go to their or a company like that, where I was just gonna do the same thing over and over and over again. It's all wanted to be in control Romero Desi that would drew, that's what drew we'd do consulting because I knew by experience would be buried at work with different clients at work in different industries, and it definitely provided that for me. But as I began to expand my thoughts on what was possible. Right. I didn't necessarily think that a lot of these things were possible, when I was growing up because that's not what I saw every day. But when I began to be exposed exposure, such big word for me. Because even if you think about people that I grew up with my neighborhood, who some of them aren't with us anymore. Some of them are in jail or in bad situation. I'll tell my ass myself will what, what may be different. How did I not go down that path? And a big huge part of it is exposure when I was a very, very young. I was so fortunate to be exposed to a lot of different things. So they vermillion the quote unquote, gifted class. Right. So I could go to another school when I could play with instruments, get on the computer in have these experiences and go to these different places, and I benefited from that, and I'm saying, well, maybe if you had given my counterparts though, similar experiences, maybe their lives would turn out differently, but it's almost like we started to predetermine who's going to be successful. Who isn't when we're in elementary school in? I think that that's a shame. But one of the things that, that separated me was exposure, so that helped me in terms of pursuing college, and so on, and so forth, then as I got more exposed to what success actually looked like out in the real world, not just there mile bubble what I see around me. I said, wait a second. There's a lot more to this than I ever fought. And so I started to read in started to get books. I started to go to seminars. And when that expands, your, your belief of woods available to you, and you say, we'll, but this person grew up in a similar place to me. He's you know he's not from another planet. Okay. Or she if they can do it. I could probably do it too. I just need to figure out how and my curiosity just said, let's figure it out. Let's see what happens. And you know that sort of led me down the path that I'm walking on today lifestyle design acceleration acts. What is your favorite before the millions? I was safe think, and grow rich by Napoleon hill. That is one of the books that totally completely changed my paradigm. You have to get your mind, right? Before you can really be in a position to accept that type of welcome to your life. So I love that book on love. I love it as well. What is your favorite lifestyle design app? This can be a business app or tool if I can cheat and us, too. I'm gonna say mid the mid app, which is a personal finance app that allows you to track and categorize all of your spending, absolutely essential. If you're going to be in controlling your money, you gotta know where your money is, and where it's going, and then also the credit karma at which is a pre AP where you can check your report, and your score totally for free so that you'll know where you stand you could make changes. And there we go to borrow money, you can get the best rate. So those are two that that, you know, I'm almost in everyday. Love it, too. That haven't yet been recommended and over one hundred sows and you guys should definitely check out those X. Okay. What and this is the follow up to our previous conversation. What enjoying most about the way your lifestyle is currently designed? Being in control of my own schedule. Now say that would a little bit of caveat. I do have clients class can be demanding. I work with busy people you. So sometimes you have to be flexible. But you know, if I need to go to an event with my wife, I can make that work if we need to be Jamaica for week for conference. I can make that work, but due to technology to work from anywhere on the planet. So I love the flexibility that I have to be able to spend time with the people that I care about. But also, you know, take care of my business at the same time, what were the sacrifices that you knew you had to make before the millions to get to where you are today? A new that there was going to be a big sacrifice in terms of my time, because there are things that you can't necessarily go out. And do when you're focused on building a business when you have to eat what you, you can't always be out with your friends having drinks or whatever it might be afterward. You can't go see every movie you can't binge watch every team. Even show because you have to be spending that money of that time building and getting better at your craft and bring in new clients. So there was definitely a sacrifice of time in the early going in order to have the flexibility on the other side. For sure for sure who was essential to your growth before the millions and why my parents and again if I could cheat a little bit. I'll also say, my, my teacher at a, you know, let's say elementary school because they all made me feel like one that I was smart. And I don't know if they were lying or not. But I believe that. And so, you know it works whatever they did. And I also believe I believe that there were things expected of me that I was expected to do well, I was expected to work hard that there were things that I needed to live up to. I mean to this day my greatest fear in life is having to look back one day and saying, you know, I didn't live up to my potential. That's probably the greatest fear that I have because I know that people have expected that I was going to do something great. And, and I had those expectations place on me. So between my parents and, and some really, really awesome, caring teacher that I had in my life, very early on. That's been very of the wind chill to, to am now and I can destiny relate to those. Those heavy expectations those heavy burdens. So I totally get it 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 because it's not easy, and, you know, when you don't have that blueprint. We don't have that road map if you were born into a wealthy family, if you didn't see all of these things when you were growing up, it gives seem unattainable could just seem like there's a big secret that you haven't been let in on, and so you don't know the steps, you don't know the methods in order to take. And so when we don't know things when we're uncomfortable with the past, we take the path of lethal these resistance. And so maybe that's you know going to school doing your homework. Get good grades. Go to good school. Get a good job that's sort of where we have defaulted to. Because that's been beaten into our heads for years and years. This is how you're successful not realizing that if you take a look at the Forbes five hundred or the Forbes wealthiest people list, that's not necessarily how they got there. As a matter of fact, most of those people, you know, they'll get w two at the end of the year. Most of those people are business owners, and that's a completely different mindset, and it's a completely different path that you have to take, but there's a lot of self help books, but there's no not necessarily a book that you can read to tell you how you're going to build the business ex going to give you the life that you more. So because essentially, it's difficult, it's easy to get stuck. But one of the things that I learned as an engineer is that there's a lot of big problems that we have to face in life. But. The thing that I always take from engineering, is, how do you take this big nebulous hard to solve problems in break them down into very, very small pieces that you go do that. And then continuously build on it from there, because you can totally psych yourself out. Let's just take the book. For example, you can totally psych yourself out saying, how am I going to write this book? How do I get it on Amazon? How's the formatting work? How many pages should it be worse? You could be done with it before you even. Right. One word, or you can say, I'm gonna sit down and I'm going to write five hundred words in the next hour anybody could do that. And if you do that enough days in a row, you'll wake up one day and suddenly, you have a book Britain. And so, I think we're stuck because it's hard. There's no blueprint. But I think the way through that is to just take a step back break things down to very, very little simple, small baby steps and take those baby steps and before you know it, you've you've walked. Few mouse. I love. I love it. If I could ask one more question as it pertains, you have kids. Right. I don't have any kids don't have, but I have nieces and nephews. So let's use them as an example. If you didn't have the ability to pass on any of your financial assets or resources, and you could pass on a piece of investing advice that would last your niece or nephew, you know, the test of time, what that simple piece of advice. Be that's a difficult question. One pick device saddled up this specific investing advice. But one of my favorite quotes in the book is where I say, if you're not intentionally trying to get wealthy you'll likely end up accidentally poor and. I think that sums up a lot because you did it mean for that outcome to happen. But you also didn't intentionally do the other thing you did intentionally sit down and look at potential investments. You didn't intentionally look at what are the highest paying jobs. You could pretension get. You know, you didn't intentionally you're spending the see where you could potentially clean that up. So it's about being serious about it because it's not going to happen by accident. Nobody is going to hand anything to you, even if you win the lottery, you still have to get up and go and intentionally go buy the ticket, right? A lot of people go. Why haven't I wanted to lottery yet? Most of them haven't even gone out to buy tickets. So I if there was one piece of advice that I had to say, which I think, is all encompassing is that gotta be serious very intentional about it for not intended, and trying to get wealthy. You're likely the accident report bone there. We have it, ladies and gentlemen, Mr. rob Wilson. This has been simply amazing rather, if people want to hear more about, if they want to learn about some of the products and offerings that you have they wanna get this book, please tell me about the book where can they find some this information? Sure, sure, I would love people to go pick up the book, secure the bag create the life desire, about managing your money. Like you mean it, they can find it at six you're the bag dot me. When it's also available on Amazon. If you prefer to get there, I'm rob Wilson, TV everywhere on social, but I spend most of my time on YouTube. So you're looking for, you know, advice and guidance and those sorts of things in a financial realm will love us a subscription that you can find me at rob Wilson dot TV slash into there. We go. And all of the links will be in the, ladies and gentlemen, as we close out this episode as Altro music is currently playing rob. I, I have a selfish question, and that question is, I want to start serving on a few boards how, and what type of advice would you give can? How would I go about doing that? You know what, that's actually not too difficult, because boards, they need help they need people who are willing to roll up their sleeves and put in work because, you know, a lot of times they're little bit unfunded. They need. They needed vice and guide it. So, you know, I would look up the organizations, who you feel passionate about. And who you want to start serving our reach out to the CEO, or executive director and ask them with the next board seats coming open? And, you know, it'll be easier to which you think it is. Because again, they need somebody like you who is gonna put in the time in there for to help them achieve their goal. So if you do that, I think you'll find some great boards circle.

rob Wilson Deloitte advisor engineer Barney partner cancer NFL Aaliyah Gina Lofton MC Laubscher cure Derek location Heather haven Marcus Mr. Hollywood Tim
BTM 80: My Backstory and Before The Millions Journey

Before the Millions

54:04 min | 2 years ago

BTM 80: My Backstory and Before The Millions Journey

"This is Darryl Aaliyah. And you listen to the before the man's podcast episode eighty eight zero the schizoid are you ready to be the master architect of your life? Are you ready to design your business and invested needs that commit the lifestyle? You've always dreamt up 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 am 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 millions podcasts. Hey, this is Marcus crispy, host of the seven minute mentor podcast global entrepreneur all round. Geek. And you listen to the befall the millions podcasts. I am MC Laubscher the cash loon injure, and you're listening to before the millions bought cost. You're listening to the before the millions Fahd 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. Now, your host to Ray. Hey, what's up what's going on tribe? Welcome to another episode another installment of the before the man's podcasts. Now guys, I'm excited about today show, and the reason I'm excited about today's show is because I'm not the one doing the interviewing you guys are actually going to listen to one of the interviews that I've done on another show today. So that's why I'm excited because you guys are going to hear a little bit more about my story. And you know, what's funny with this podcast is in twenty seventeen. It was all about passive income how to create different ways different businesses, just earn passive income in two thousand eighteen it's been about kind of just focusing in getting into real estate getting that I deal done purchasing your first investment property. And now that we're entering twenty nineteen the theme the goal what we're looking to do the shift of the podcast is going to be creating growing your lifestyle business and doing that through real estate tonight that you've gotten your first deal done. Now that you've gotten your feet wet, do you know, exactly what you wanna do? You know, exactly what your strategy is. And what you're doing? Let's now grow that business around our lifestyle. So twenty nine hundred have some fascinating fascinating things. Coming up guys. I've been working diligently diligently to get to get a lot of things up and running with that is going to come a website redesign, and I'm super excited about the redesign because my website is still in outdated to say the least. And that redesigned should be ready to launch by January. Maybe even before January. So guys this website is going to be amazing. But but not only that guys. I mean, we've talked about the mastermind that I've been literally dreaming about starting for like what a year now. And I'm just like man, we're actually going to pick this thing up in January of two thousand nineteen. This is going to be crazy. It's going to be my funnest. Venture yet. You know, right now guys. I am. Constantly battling. Focusing on going. My coaching and consulting. Helping any and everybody out there that I can as much as possible. Because that's the overall goal, right? And doing my deals getting deals done. Getting more efficient at finding and analyzing and negotiating an everything that kind of goes through that process of getting a deal. So sometimes my coaching coastal team may take the backseat sometimes my real estate business. Let me take the backseat. No I in this this season right now holiday season. Most investors that are going to their feet up. They're going to be relaxing. And the right. He's not. Because while everybody kicks their feet up and enjoys Christmas and new years and even thanksgiving. I'm going to be out there on these streets. A deal going on right now. And I've been trying to figure out the best way to structure and on the front end of this deal. It's just a single family home, by the way, guys. But on the front end of the steel I'm looking at making about seventeen grand. And I've been fighting myself with how do I structure the steel, and it's so easy for me to kind of look through the Rolodex. I've been doing this podcast for what almost one hundred episodes now. And there's fifty two episodes a year. So you do the math. And there's so many people that I can just call or text and be like, hey, how do I how do I structure this? What do you think? Yeah. Sometimes, you know, you may feel a little reluctance I feel that sometimes where I'm just like we don't have that type of relationship. Or this person? I don't I haven't actually put dollars in their pocket. So I don't want to bother them with things. I'm thinking about what I mean. There's so many things that goes on right? But then you do have that culture relationship, or let's not even talk about culture when you do have like something like a mastermind. Other people doing exactly what you're doing at a high level. You can easily lean on your mastermind group in this exactly what I what I'm doing for this deal. Like, hey. What do you guys think about this? I haven't mastermind with a previous guests on the show his name as sack and him and his company whose ran by Chris, which is the guy. That's actually interviewing me today. We're going to get to that shortly but him and his company they're doing amazing things. And you know, things that I may have not thought reponsible a few years ago. I mean, I think about the fact that we have normal conversations talking about consulting in coaching and mentoring in, you know, rights of like twenty five to one hundred K. I mean, these are just normal conversation. I was just like oh my goodness. If I didn't surround myself with tech, you know, people like him. I wouldn't be thinking about up in my game. I wouldn't be thinking about how I can deliver more value because I'm not charging anywhere near that. But because I'm surrounding myself with people who are operating at a high level. It's almost like, you know. Birds of a feather right now, if I was surrounding myself with people who weren't operating at a high level, and we're not just talking about monetarily. But I'm just using this as as an example, then I wouldn't feel as though there would be anything that I needed to change or do or to implement just be like, oh, I mean, I'm doing pretty okay, everybody else's kind of doing this. I mean, I guess this is fine. And even what I'm doing. Now, I thought was still out of reach for me. Just a year ago. I think about the power mastermind surrounding yourself with the right people that people are going to the people that are going to challenge you and motivate you and inspire you. And I challenge you guys to make sure that that mastermind that you're in that you join us a paid mastermind that you guys are actually expending dollars to be a part of the group. And that's really guys. That's a big secret. That's a major part of the game the psychology behind it is second to none. But we'll we'll talk about that on another episode. So I say that say that we have a lot of lot of new things coming in twenty nine thousand nine and ending twenty eighteen you know, the the year where the focus was, hey, let's figure out how we're going to get you into your first investment property and how we're going to start building that lifestyle business. We're gonna end this year. What a Bank. So those of you who haven't risen investment property. There's still time coming out with the free video series. That's going to help you do that. I've been teasing a whole lot of different things during this episode. So I'm not going to do that anymore. This not what that's not what this episode is about. If you want to learn more about the products and some of the things that we have going on head to head over to before the man's dot com. And if you're listening to this in the future, then you're probably looking at my amazing brand new site. But if you listen to this when the show first releases, then you're looking at the original site with some modifications, but all the information is there, I want you to have purchase your first investment property by the end of the year at least have something under contract. So that when we do start talking next year about building this business having the lifestyle that we want and making sure that the businesses I provide for that lifestyle and not take away or consume that lifestyle. You're going to be right there with us. So on today's episode. We are literally walking through my before the million story and I'd say up until late twenty seventeen so up until about a year ago. This episode was recorded and released probably early early summer of two thousand eighteen. Now, there's a lot on this episode. The a lot of you guys have may have heard already because you guys are loyal listeners of this podcast. But there's a lot that I'm sure that you guys haven't heard in my story with this theme. I love the name of the podcast because. There's so many different ways. We can go about a before the million story. I mean, I think about the guests that we bring on the show. And we walk through their story up until present day. We just kind of sit with them as they have built up a business from scratch from nowhere. It's pretty awesome. But we're always kind of reflecting back on what they've done and how they did it. And I always had in mind to start this podcast knowing that all these people are successful and have been successful for some time. But as I start this podcast, which was two years ago. I'm going to be able to have the ability to show other people my progress my transition before the millions because most people they don't get on the mic. They don't get on a podcast. They don't go out in public and talk about their message until they made it until they're successful. And sometimes that maybe out of fear of what people are gonna think or maybe just fear of failure. Because you know, if you get on a platform before you have any success at all in it's documented, and people know, then that's a scary thought. Right. Luckily, for me, my mindset is a bit different in that aspect because the. Fact that I have you guys holding me accountable. I can't possibly ever stop failure give so early on you that the theme of this podcasts was gonna be about my story and the growing pains that you guys here and the difficulties in the challenges that you guys are constantly hearing. So that you know, that hey, like there's somebody here that's actually doing this now going through these painting. He's not on the other side. And hopefully, it gives you a bit of a different perspective. That's why I love the name of this podcast because again, it it just encompasses so much. And as many of you already know before the millions is not necessarily about money. It's not it's not a monetary thing. It's more of a mindset. It's more of a journey. It's more of a Pat this more of a ginning. The very very earliest. I just have this podcast. We were actually talking about people's millionth dollar Mark and something like a million downloads. So go back go back into the archives guys. Like, we've changed the thing. Once a year every year, and it's been able to we've been able to kind of stick to the same name because. It's all about the journey, and it all comes back to that. So on this episode. We are walking down my journey. We were walking down my path. And again, if you like these episodes, I want to be able to do more of these. Hope it's your favorite episode today. Let me know please reach out some if this up so touches you and some type of way reach out to me, let me know just shoot me an Email derived D A R A Y at before the millions dot com. Just during that was that was that was a dope episode. Like, I really appreciate that. Just let me know that. Chris who's interviewing me on the show. He pronounces my name in a way that only he pronounces my name and guys don't laugh. I tried to correct them a whole lot before the show. But after a while she was like, you know, what that's just how he says. So if you guys call me what he calls me, we're going to have a problem. So anyways here is the the week. And then my interview with Chris on the journey that I've been through and some of the highlights in that journey along the path on my before the millions story. Rays of the week. I am a big fan of the podcast. We study billionaires. And guys haven't heard of that podcast. Definitely go check it out. Some people would say it's a little bit advance for their tastes while others may say, it's not really all that. So I guess it's kind of just your preference. But I love the podcasts. Definitely check it out. And it's ran by two guys when his mistake and his name is Preston on their most recent episode. They were talking about Mark Zuckerberg and just talking about the future of AI, and how crazy things are really getting. And I just want to highlight something that I heard on their episode originally. But there's a video that kind of highlights what's going on with Google home or kind of some of these some of these things that use AI these days, and it's it's just it's crazy guys. When you think about where the future is gone, lean in what is going to be able to do in the future in how computers may eventually be smarter than humans. It's scary thought and. And the way that marketers are using some don't agree with their methodology. Some don't really care some like it like I mean going back to advertise. I mean, you you search for something or you you're talking to somebody. In person. And you're telling them about maybe a shopping item that you were thinking about getting in your phone is picking up on that. And then that phone just start showing you ads for that thing. I mean, it's getting out of control for some people. They're just like my privacy. I don't have it anymore. Others are like oh my goodness. Yes. I love this. They always know exactly what I want. That's not what I want to highlight. What I want to highlight is just how incredible the technology actually is so talking to like your home where you're Google, whatever these vices, which I don't have any of those, but just talking to one of those and that device being able to actually go, and you know, let's say you want to send a dinner appointment for eight that device had a dentist appointment for eight. And that device would actually be like, okay. I'm gonna go ahead and call the restaurant, and a I artificial intelligence is actually going to be the one talking to the restaurant setting the reservation and booking the reservation. It's crazy. So I wanna play this clip really quick. So you guys can actually get a sense of what I mean, it's really fascinating. So again realize that this is a computer talking to a another person human being and a is booking an appointment. So listen as I said earlier, our vision for system is to help you get things done. What happens is the Google assistant makes the call seamlessly in the background for you. So what you're going to hear this the Google assistant actually calling real salon to schedule an appointment for you. Let's listen. Hi balloon haircut track. Heian? I'm looking for something. I may fared want. At five PM. We do not have a the bell the quote that we have that is a one fifteen if you have anything the AM and PM. The pending on what he would like what they're looking for the woman haircut for now. Okay. We have ten o'clock. Fine. Okay. What paper? The first thing Lisa. Okay. Perfect. I will feel but Hannah crop on may third. Okay. Thank have. They. And now your feature presentation. A little bit about Darik, he mentors employees through the process of creating passive cash flow through real estate investing. So that they can the rat race. That's his whole MO in live the life of the dreams over the past few years. He's built his portfolio of passive income to real estate and successfully left his day job. I know for fact, there's a lot of listening that wanna make that transition. I know we have clients that want to make that transition, and we're excites him the most about freeing up time to do the things that he loves is the ability to help others through the same process. So they can set you can live a more fulfilled life. He's also the host of as I just mentioned the new and noteworthy entrepreneurial podcast before the millions. It's actually reached already for you on countries in focuses on high profile lifestyle oriented, entrepreneurs and millionaires who cashflow primarily through real estate is shed their best strategies Interbike cedary. Welcome to the show. It's going to be chatting again. Yeah. Definitely thanks for having me on. I'm super super excited to kind of dive into. Of things we're going to dive into today, I'm happy that we're able to kind of have this conversation. You had a recent conversation on my podcast, not too long ago about you know, some of the things that you're up to some of the things that we talked about your own financing. No money down technique. So that was amazing. So I'm glad to be able to reciprocate the value on your show and see if I can help your listeners move along their journey. Yeah. Appreciate and and for those of you listening, if you have not gotten to know dare you will now and then go ahead and subscribe to podcasts as well. So Jerry, I always liked I stick with the first question. Always then it goes in whatever direction we want. But this one is really just take us kind of behind the green curtain and give some context trialists as far as their win. The high of the y you get started investing in in general, and specifically to your transition from the j o b yeah for sure Chris. Oh, where do I start? We can start anywhere. And it's funny. Because when I when I was a kid, maybe maybe like nine or ten years old. I don't know. I don't know what you were doing as a kid, Chris. But lots of kids that I grew up with they were playing with, you know, Power Rangers interest hurdles. Race cars you name it just kind of having this big imaginary? You know, I guess cartoon action show going on. But when I was a kid I used to actually go get paper and cut out pieces of paper in the forms of dollar bills. And I used to run a Bank I used to finance finance deals. I used to finance I used to finance real estate. I used to finance buildings. I used to finance all these things and then at the end of the month, which would be like two minutes later. I would collect my rent checks. I would collect all these. And I would just literally become a paper millionaire that was my game. That was what I did as a kid. But you know, again, kind kinda going going down that same little hole me, and my family we live. We live not too far from my mom's best friend and her best friend had gates. And what's funny is when I used to go over there when I used to play with her son play video games. But when I used to play with her daughter played monopoly, and this is my first time ever. Ever really getting into something that I could sink my teeth into and would fascinated me about monopolies the same thing that fascinates me about real estate today. You know, you you used to lose to her like constantly like almost I I will try to go over there after school every single day because I was so dick to this guy in Chris no lie. Like monopoly was like the best thing on earth at the time. And I was just like how do I how do I master this game? How do I do? I find a way to beat this game. How do I make sure that I'm always gonna win whenever I played somebody else monopoly, and you know, it's a game of chance. This game rolling the dice quit. You know, there's also some strategist strep strategy behind. So when I realize when I actually started beating her was that the the markets, I e the boards faces with the most foot traffic and the highest rents won the game. And that's kind of how I got started per se, but an extra decrease. Let's let's bring it up a few years now, and now in college, and you know, they told me that in college I needed to. Going find the best firm to work for and as an accounting major. I was just like, well, I need to go work for big four county from like this is the the biggest the baddest best in the world. And they said that if I went to do this that I would be fulfilled by the things that I would do. That the things I would do for the clients that would bring me fulfillment. And that if I want it to increase in increasing them out of money or mine of income, I was making that I would have to climb up the rankings and that eventually I would reach the status call partner, and I would have to buy into the firm. And that's when I be able to buy in do when had anything everything that I wanted and this was a fifteen year trajectory, and I thought to myself. Wow. This is this is this is gonna take awhile. But I was just like whatever like this is what I signed up for. So let's still. Shortly after I realized that this is this. This wasn't the way. This wasn't the way to go. This wasn't the patch for me. It was one of those things to where I was working fifty sixty seventy hours a week had. None of my time. I was missing birthdays. I was missing anniversaries is missing all the events of my loved ones. And I wasn't. I wasn't being fulfilled by the work that I was doing. I didn't I didn't see the big picture. I wasn't clear on what the overall goal was. I just knew that. I was auditing financial statements of some of their biggest real estate companies in the world. And at the time had I had no interest in real estate had no idea that was powerful view was powerful asset class. I just knew I was an auditor. And I need it to audit. Some of these some of these some of these real estate companies so long story short. The whole the whole inception. And how and why I got started was because of my my discontentment me being unfulfilled at my corporate job and me not being able to control my time. We not being able to control my income, and I wanted to change, and I I picked up the book reset for that. As most of if not all of your guests previously have done and started down that path. Well, I as usual scratched a few notes. So first of all I'm going to date myself. But those toys, you mentioned definitely did not exist. When I was. That's that's a side. Now. Did you did? I miss what did you major in college? Yeah. Majored in accounting account. You said that I'm sorry. Yes. You did say so that was okay. So you say partner that's why I was trying to figure out. So, you know, it's interesting you said you'd have to project that out fifteen years, or however, you position that I was I was working on our live event couple of days ago on the manual. So as pointing stats I pulled the average income getting out of college to get the exact stat from two thousand sixteen that's going back. If you years, but it was like thirty five forty five. And then I took all the professionals like eight of my took as a sample in the average years was eight point one. So you're gonna spend on average and eight point one years to get out and make thirty five or forty five. Granted rather throw up. I couldn't even believe those kind of numbers people still going that route. So I can't get enough to make the transition. You did. So you got let me. Let me let me missing something there. Really? I think it's interesting to highlight. And even with those numbers, those are crazy numbers, by the way, you think about and I'm sure we'll get into this a little bit late on the show. But you'd think about the mindset of an employee and the mindset of an entrepreneur, and I wanna highlight things I wanna highlight taxes, and when you think about the thirty five to forty grand you're making an employee coming out of college and you factor in taxes. Oh, you factoring social security factoring. All the fact that you could even factoring sales tax, even though it doesn't come out of your check puts tax taxes that your pain as an employer woods of thirty forty sometimes fifty percent. And you know, you think about working for the government half of the year. So from January to Joan before you start paying yourself, and if you're really fresh out of college, and you've you've you've gone down the track that most people go down you start paying yourself in Joan. But really, you're not even paying yourself then because you probably have rent or mortgage. Now, you're paying the Bank. So you're probably. You're probably paying credit card bills student loans car notes the list goes on. And now you want to start a family have kids buy a house. I mean, it's almost like when are you ever going to get that freedom to start paying yourself? When are you ever points really be able to be financially free as an employee solely not saying that being in place, a bad thing? But that not being coupled with anything else is very very dangerous and the second point I want to kind of touch on really quick, Chris is that when an employee wants to do something wants to achieve something wants to have more in life. Maybe buy a new car, maybe by a ranch, maybe why an acre of land whatever it is that person has to look at what they're making. They have to budget, and they have to save for that expense, and the saving is going to take X amount of months, and they're going to have to put away X amount of dollars. So they're they're they're looking at what they already have and what they can maybe limit. So they can create more money to save. Whereas a entrepreneurial mindset, Chris. I'm sure that you can agree when we wanna. By something. We want to do something we want to have something. We're not looking at how much we need to save. We're looking at. Well, what do I need to build? What do I need to grow? What what new business or wouldn't you opportunity can I leverage to to have this in which what I want? So if you're if you're a coach or consultant, you're looking at we'll maybe I need to to, you know, acquire two more clients, and it's a whole different perspective from the employee mindset when I started realizing some of these things I was just like I'm in the wrong game. So I just want to highlight those things really quick Chris. Now, I love it. I love I love going with the flow here. So that's a depressing thought of people January through June. You you basically you work for nothing. That's that's a lovely thought for the get people off their off their, but to go ahead and do something the other thing. I like what you said. Is you go build something ice say even the kids are real super young, look, whether it's a car or Toyo, whatever it is go create an acid pay far really that directly relatable hate the selling watered down simple. But it is that easy to understand. And the only time I say. That college that I'm an advocate of college or being an employee is if there's just some super super specialty light that you fell in love with forever reason that doc, you know, there are some exceptions. But generally speaking that would be a bomber path dairy. Do you have a niche or kind of a specialty area that you tend to focus on I help professionals purchase I investment property, and then I helped him create an implement a game plan to rinse and repeat that same process and escape the rat race what I found Chris going from zero to one is the hardest thing to do in real estate. I agree literally. And I mean, you don't meet a real estate investor out there that just has one property, and like real estate is not for me, or this is all I need. I just need to hundred fifty bucks a month in income in on. Okay. That doesn't necessarily really happen. What you naturally most likely? See is once somebody gets from zero to one the floodgates open. One to two is a little bit easier because. You have the experience. Now, you have the confidence you have the know how you have the steps you have the you have the team, and you may even have some some some capital to put into your next deal. So one to two is pretty simple two to three so easy. But what happens is that zero to one a lot of people get hung up there because of the fair because of the unknown because of things that they've been been led to believe, you know. So it's one of those things too where if I can help as many people as I can get from zero to one I think that will all be better investors for it. So that's really my focus. And then a secondary focus of mine as I've been able to build my coaching and consulting platforms is I wanna help experienced investors as well them create and monetize their platform and help them monetize producing six figuring come through. And we wanna do this to masterminding. So that's a product that. I don't have out yet. But it's a are have a long waiting list for that. Because there are a lot of experience real estate. Investors loves to be able to monetize their maybe it's their. There networking events. Maybe it's speaking from stage, maybe coaching. So maybe it's their podcast. Maybe log there used to Chen on. They're just not quite sure how to get to that next level. How to start earning six and seven figures. So that that's kind of those those those areas are kinda my sweet spot, right outdoors. I love it the mass peas show, we'll revisit together offline meaning an addition to the show because that's something we do you know yearly without fail every year. We just pick which ones we're going to do when you talk, and drew a I drew in front of me, and my no zero dash one that gap. You said to try to get that first day. But then I put a big like gap between it because would you agree? Maybe some comments on this the zero to one is interesting. So if people come into real estate with expectation I need or want a deal tomorrow. Like, I need it Bali I need to thirty days or I quit or I'll try this out out. Try Darry says I'll try with Chris says, but if it doesn't work as I I'm there's just so many people that get lost and false expectations in that zero to one we lose them. But once they get past the one. There you alluded to there's no stop in them. So whether that takes ninety days or thirty days, if you lock oil, the Noam, six months or more get I deal some of our top earners with taught took six months do for a steel and then they're on fire. So just don't quit. I just don't know. If you have any comments before I go to my next thought for no, you're perfectly, right? You're you're you're in Rhode Island. I'm in Houston, Texas right now. And I wanna visit you I mean, I cannot physically with my own two is see Rhode Island from where I am like stood outside. And I tried to looking your direction. There's no possible way that I could see right now, Chris. But I know where you are. I know where you're on the mat, I know that you're my I know that to get to you, that's my destination. That's my goal. So so using that metaphor for real estate investor. You know, your goal, you know, you wanna do and what happens from that zero. Twin transitions there's a lot of fear. There's a lot of barriers. There's a lot of things that you may believe that you made need to do with the there's a lot going on. And if you can just get. Started. You know that the hardest thing that I see with people. It's just so hard to get started. Where do I get started? How do I get started? What's what's the what's the very first step is probably the biggest question. I get every what do I do? I and most people get hung up on that, you know. And I don't want to go off on a tangent here. But I think about some barriers that we put, you know, in front of ourselves to make it seem like we're progressing forward. So let's say you're listener out there, and you want to become a real estate investor that is that is a goal of yours. And you're you're looking to that because that's what you wanna do. But maybe you have these limits beliefs that maybe you need some money, or maybe you need credibility, or maybe you need this. Maybe you need to be in the right area. Maybe you need a license. You know, I hear the license when a lot Chris. And it's like. You think about the people around you? And you're you're circling where you're getting some of your preconceived notions. Trump saying that you need a real estate license to become a realtor before you become an investor because you have access to the because you're you're gonna you're gonna know the terminology you're going to be more well versed in in real estate lingo and things like that. And you look at the amount of. Realtors or people who have licenses that don't go on to become investors. And I would say it's about ninety nine percent of them. And then you look at the amount of investors who don't have real estate license lines. This is and I will say about ninety nine percent of them. So what does that tell you you? There's such a common correlation between or there seems to be coming correlation between getting your license to becoming a real estate investor. But what I've found is that this is just another hurdle that you put in your wife. This is this is this is healthier shows. Fierce up in the most inconspicuous ways fears not gonna show up at your front door. And be like, hey, I'm fear. How's it going? I'm here to miss your life. Fear is going to show up in the form of things that you you believe that needs to be done or half to let me let me clean up my best before I started on this work, or I need to clean out my causing. So I can have a clear head, and then I can move forward. If I want to write this book before right? This look I need to read at least seven other books in this category to make sure that I have this like there's there's just so much that we that we make it needs to go in front of our goes. I mean, frankly. They're not even relevant and what I want listeners out there to do is ask yourself. What would happen if I went down to spat if I wanted to truly become a real estate investor, and I didn't get my license. What would that look like with that be possible have been people that have done this before we start to ask yourself these questions? You start to realize that these barriers are not really they're really just fear based and if you can move past that fear and your dreams and goals. I mean, you're going to be all the better for it. Again, going back to that analogy. I mean, you're you're all the way in Rhode Island, Chris and I'm in Houston, Texas. I want to get to you. I the smartest thing for me to do is to get started. To not think about all the things that could possibly be my way. Because if I think about if I start thinking about the things that could be my way, if I think about the fact that there could be a road closed or they could be traffic if there to be an accident a lot of these things people use those things they hear on the news. This road is close. Let me let me wait until next week when we wait until tomorrow. Let me wait until it's that same same fear. You know? So when you get on the road, and when I'm when I'm coming to Rhode Island, and I get on the road. I'm getting my car inlet sites, foggy outside. Again, this is another this is another barrier in instead of me to stay at home in the fog. What happens to actual people who become reliant investors? They keep going down that fog and that fall Chris unit you may not be able to see a mile away, but you may be able to see maybe yard away or meter away. And as you start inching up as you start pushing forward as you start driving your car down that at the road cares up and you see another meter and another meter and another meter until eventually, Chris I'm in Rhode Island. I'm not going to your front door. That's because I didn't let the fear or the disbelief or the or the the terrain or the the quote unquote, the hardness of the trip. I didn't let none of that. Getting my way because I knew my goal. I knew that I want freedom. I knew that I wanted to I investment property. So I started out on that road. And whatever problems I was gonna face I was going to face them. But I was gonna keep going. I didn't let those problems in able or disabled me before I got started. So that's the big takeaway from backers. Well, you. Google that went onto big pockets found someone that said fog was gonna stop you. You're gonna get in trouble. And then you could you could have gave up. For sure. Actually licensing the best in ALgeria. Come up about the way. But you mentioned licensing, and there's just so many people that I get hit with that. On some chuckling while you're saying that because it is it's just another perceive robot do things properly and just like decades before me in decades before you people are gonna continue to buy and sell real estate the right way as investors period. We all made we all make mistakes along the way mine was the, you know in eight as I told you on your show when I got my teeth kicked in so to speak in anyone that's been out there for you know, any money isn't real estate you two three four certainly twenty plus Mike. They hit speed bumps. We all have share. And so people successful don't allow the failure. They don't even close to define where they are. So. Typically seem do what jump right back on the horses guy the trenches in in keep moving. So is there any experience be bombed bro block of feeling that you experience in in? How'd you chief success because of it? If you experience something ready, I'm still I'm still waiting behind the earth. I would say I'm twenty eight and I've been in real estate for less than three years, but I hadn't experienced, and I was I was just just kind of turning my sights to being a full time entrepreneur, and I told myself that I would I would escape the rat race in two years and about a year and a half in the rat race escaped me in the sense that I was no longer employed. I was in investment analysts, and I was consulting for a private equity investment. Find a controlling about twenty six billion dollars. And I was Sultan for them through that process. I had no job for about eight months, and I realized during month one that I wouldn't survive. If I didn't if my business didn't start picking with. Passive income. Streams start picking up because I was in investor for about a year almost a year and a half at this time. And I had two things that I believed we're going to either have me take off, or at least at the very least gonna save me from my demise. Or being you know, being burnt out entrepreneur, and one of those things was that I was raising raising half a million dollars for a forty two million dollar deal in Dallas, Texas, and it was my first money race ever. And the other thing was that. I was coming out with the brand new course, and that course, was a teaching people how to house heck so teach people how to basically live for free. So I was coming out with the course, and I was raising money for. For a three hundred unit building. And I was so confident that with both of these things in my arsenal. As I started down this unemployment troop that I was going to be okay that everything was gonna work out. And I was never never ever returned back to the race again, which I haven't by the way. But at the time, it was a pretty scary moment because again, I had no income, and I had to businesses per se that I had just started. And I was just now starting to kind of figure out the inner workings of how to raise money how to talk to investors how to build a course how to use an online portal Hotta start creating funnels how to build my Email this. I mean, I was doing so much, and I wouldn't have been able to do all those things working fifty sixty hours at my full time job. So it was it was it was the perfect time. And slowly. But surely started falling apart. Have rentals in Houston and hurricane Harvey hit. And that wasn't a pretty sight. And this was this was literally the same that this all happened in almost a sign week. Started raising money a lot of investors that I thought would would invest in me started. Having second thoughts started having doubts. I didn't have a long enough track record this then the third. Mike chorus as I was building it out. I wasn't really I didn't really prove that it was something that my audience needed. So I didn't prove that it was it was it was a viable product just created in create an in created us spent about three to three to four months, creating the whole course and at the end of that process. One ended up not raising the funds for deal. To my course, literally made me zero dollars after had tested in in created and put my blood, sweat and tears into this for months on end. And my my properties in Houston were just they were being destroyed. And it was one of those things where I was at my lowest. I mean, I've had plenty of low. I have plenty of stories just like this. This is just one of many. And it's it's it's just been a short ride. I mean, you've been you've been at it for a long time you've had far more greater has new entrepreneurial moments to not bend. I even fathom. But I've had so many just short period of time. That is just like. Wow. So I was I was between a rock and a hard place. I didn't know what would happen next. I didn't know if I would be able to pay my mortgages, I had properties in Dallas. And I didn't know if I would be able to pay my mortgage is I didn't know what was going to come of my life. If I doing figure out the next because this deal was off the table the. Of course was a complete disaster. And I had property in Houston in mind sheri- companies. I mean, they just they just weren't cooperating. I mean till this day, I'm still dealing with them. But. I had a drive Atta vision, and I was focused. I knew my goal is. And although I was I had already become which I wasn't for by that time, I become a big advocate for coaching consulting. I mean at her probably already spent about forty to fifty thousand on coaching consulting. And that was my goal to these as I mean for the past two years. I I read about a book a week. Sorry, almost maybe three to four bucks a month. So sometimes we can have read about three to four books of months. I listened to tons of podcast. And I have a have tons of mentors some paid some non-paid some that don't even know their mentors some mentors from a distance. And again, I'm highlighting. So the listeners can kind of take away from from this kind of build thirteen, you know, in a similar fashion. But I post you get another mentor, and I told I told that person my situation, and he'll just like, okay. This is what you need to do. You needs to be more focused you need to prove that you have a system or a product that people want for you create the product. And I mean, I got so much vice from this guy, and it was because I went to go seek out coaching consulting, go seek out mentoring. Even though I was a coaching consultant myself. You know, you're never you're never too seasoned sublime, you're never too old to you know, they say you can't teach old dog tricks that all dog that doesn't wanna learn tricks will never ever ever meet success. And I think that for the rest until I mean, even at seventy I'm going to make sure that I have coaches and mentors guide. I mean in every single area for life, where there's health wealth the relationships, you should have a coach or mentor somebody who's done what you're looking to do because it provides so much value for you. It gives you a fasttrack whatever it is looking to do. So long story short. I didn't give. Moving forward. I kept trying to figure things out putting out fires. And it wasn't until I started realizing the value that I had been me that I started being successful. Because when I was raising money, I didn't realize that I had in me. I didn't position myself as the value when I was creating of course, I didn't realize the value that I had in me. I mean position myself in my course, on my brand as the value and the more and more I worked on self-improvement and started improving myself because your business is a direct reflection of yourself. You know, something's more among your business, and you wanna blame your business. You want to blame your employees or any blame this one blame bat. Well, once you do that, you have no control over that outcome best situation because you didn't take playing whether or not it, isn't employees fault. But if you can if you can refrain bed and be like, well, everything that happens, my businesses that direct result of me. You have all the power to go in there and to take action to fix that problem. Because you know, that you are your businesses reflection of you. So when I started self-improvement started improving myself when I started learning how much I should you myself in how how I position myself. That's when things really really changed for me. That's when things really took off in it wasn't. It wasn't until I experienced failures that I learned that I needed to to to have a different outlook on who. I am. And what I'm here to do. And what I'm able to achieve well for a couple of things first. Congrats right. Congrats are in order with with the path you took 'cause you answered the next question, which is what what you end up doing with it and getting out of rat race at that age, and I hope every single college grad of present doesn't going to college understands resonates with what you're saying use that as as a passage for themselves, but you said some very end in four or five kind of bullet questions as we wrap up says something about value, if if the listeners haven't and you anyone else hasn't listened to the podcast interview. I did with. Smith. I don't know. What episode? It was. But go back from this episode look for Todd Smith Todd talked about exactly what you to salute to we talked about your income, increasing only when your value increases. It's not possible to do the opposite possible fear income grow without you are more value value by doing by doing what you did going out and grabbing free men to a spending forty five to fifty grand. That's a commitment. And you you grew your value agreer income, and obviously this guy's limit for you now. So congrats let's do let's do some kind of rapid fire. Aaron what will we'll get things wrapped up top three things you do daily to be the very best and you'll world that maybe you haven't answered yet. And it could be one two or three had a lot to rituals or disciplines you daily. Yes. I'll wrap it up in. It's it's about four things five things now, but I'll wrap it up into a one thing kind of segment, and I'd say just having a morning routine having a daily routine, and you know, you can get yours from plenty of places. How Elrod has called America? Morning. And that's that's a great place to start. If you just need some type of routine of star implementing, and I say that you need a routine because man with the with the routine, they get focused on what's most important to you. And what you need to accomplish that to keep things moving forward in the relationships, and the people in your life that you wanna you wanna help intend to and and just kind of get you in the frame of mind for the day setting out like so powerful when you're working from that frame of mind in the morning. You've already know set your prayers you've already visualizations you've already had dra- formation's going. You've already kind of you've already exercise, and you've already eating the things that you need for fuel. I mean, the sky's the sky's the limit the warriors or Stor en when you set the frame of mind when you set your intention in the morning for the rest of the day, you're more likely to succeed that day. So that's that's that's mine is is just having a morning routine. Awesome. And you mentioned a book on ask you what book you reading right now or CD or audibles? Man. I again, I read about a book week and one that pops out that one of the ones I've been reading is a book by Jesse. It's are you familiar with him? I don't think so what's the title. So his name is Jesse is learned the name of the book is living with the seal and Jesse follow. You guys out there who don't know who he is. He he actually sold his company I believe it's called net netjets to Donald Trump a few years ago. He's a part owner of the Lanta hawks and has wife is the billionaire in in in women's clothing. She she's the honor of spanks. So anyways, he wrote a book called living with the seal, and he basically invited a seal to his home with his wife and his kids to live with them for for thirty days. And that experience was phenomenal phenomenally amazing in the sense that he was I mean, he's he's a marathon runner. He's done so many different things. And he's he's very in person. But he was able to break out of what he thought was possible for him. Whether it was mentally whether it was physically whether it was financially, and he was able to do this through having field living with. Him in his house for thirty days. I mean, one of the biggest takeaways that Jesse got that just got from the ceiling, but a lot of listeners, including myself got from AURELIA, the readers, including myself got from the book is that whenever you're think whenever you think you're at your your MAC. So let's say you're working out or let's say, you're you're starting this business and us just being given. It your all whenever you think you're attractor max, and you can't go anymore. You can't do another rep. You can't give another push. You can't extend your loans out for another month. When you think you're at your max, you're only about forty percent of the way there. You're only about forty percent of the way to your max. And what your body naturally does is protect its it wants to protect itself or this mentally physically. So it starts giving you the warnings. Is you start sweating? You. Start shaking. You start having these beliefs in your mind that's telling you that stop stop, stop, stop stop. And if you can persevere if you can utilize the biggest invest tool that you have is your mind if utilized that tool to your advantage until yourself, and no believe in trust that you have a lot more in the tank that you're just getting started you not even halfway there. I mean, you can crank out another few reps. You can crank out, you know, you can get to your goals and dreams beyond faster than you ever thought possible because you're working muscle using the best muscle that we have. And it's one of those things where again when you think you are at your max cetera. Limit just realize you're about forty percent of the way, they're dairy. I appreciate the that kind of ending only because I did. Ask you to go there and the head game is in my opinion. Most of the game we had a mastermind speaking of that a little while ago about a month and a half ago with what we call our high six associates. These are the most serious paid the most belong they do the most deals in. They all read those only six of the room. They all agreed that by far the biggest challenges what's between the heirs. You really address that in a number of different ways today before I forget before I wrap up. I n Helis guys the best way to reach you. And I wanna mention stick it in the show notes to make sure they jump on your webinar because it's a whole bunch more. What you talked about in that just before the millions dot com forward slash webinar. Also, can they reach you? Yeah. For sure so they can I mean, I I love to love to interact with any and everybody who's looking for financial freedom who's looking to get into their first investment property who's looking to become an entrepreneur who's looking to maybe subsidize their their income from their professional job in kind of crate second second-string through real estate, folks, some passive cash flow, and my my. Mariupol is real estate. But I also have also do the online thing I have online businesses mccutchen consulting and help other people kind of built their platforms as well. So if anybody wants to reach out to learn a little bit more about some things I have going on you can just of Email me at d'auray D A R A Y at before be millions dot com. And I'd be happy to answer any questions that they have anybody else that wants to listen to the podcast read some blog postings like that. Definitely just go to before the main dot com and you'll find all of our information there, then tastic appreciated super super good. So before the millions dot com slash webinar in Darah D A R A Y at before the millions dot com. Okay smile. Listen is. My closing thoughts has always please. I employed today. Grab one two or three the action items that that shade with it because there was a whole bunch and and there were in the in the real estate game as well as in the in your head game. And I think that you take advantage of all of them dairy. We really appreciate it. Again, you spend some time today we all have the same one hundred sixty eight hours in a week. You took. A one of those with us in their super valuable. I appreciate that. Again. Go often enjoy your other one hundred sixty seven and thanks for sharing with. Yup. Chris. Thank thank you for everything that you do in you kind of spreading this message out there, we need more people like you. And I really really love that you're doing this. And that you're getting you know, people on their journey. So thank you again for all the things that you do. Thanks for tuning into today show. If you like what you've heard, and you're interested in seeing if you're a good fit work with the before the millions team. Here's what I want you to do next head over to before the millions dot com for its lash call that's before the millions dot com slash call and book an appointment to speak with our team. We'll get on the phone with you for about forty five minutes, and we'll get you. Crystal clear on three things number one. What is your cash flow goal? How much are you looking to make every month? Number two, your personalized investing strategy and number three the best way to get started using cash flowing rental real estate, remember. Starting in scaling your real estate investments and business doesn't happen by itself. You need expert guidance to make it happen. We've helped clients all over the world start in scale. They're investing efforts to six figures and beyond while enjoying life and making the world of better place to find out if we can help you do the same head over to before the millions dot com for slash call. I'm Dora Eliya, and let's talk soon.

Chris Google Bank Houston Texas Rhode Island Donald Trump partner Gina Lofton Darryl Aaliyah MC Laubscher Marcus crispy Rhode Island Fahd Derek Heather haven Mr. Hollywood
BTM 88: There Is No Try, There Is Only Do with Scottie Smith

Before the Millions

48:15 min | 1 year ago

BTM 88: There Is No Try, There Is Only Do with Scottie Smith

"This is derived all Aaliyah, and you're listening to the before the millions podcast episode eighty eight allies mon- once said this simply no trying there's only do you ready to be the master architect of your life. Are you ready to design your business and invest the needs that create the lifestyle you've always dreamt up to are you ready to learn from entrepreneurs and millionaires whoever gpd 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 am an investor and you're listening to the the floor the millions podcast. Hey there. My name is Heather haven would marketing coach and global entrepreneur. And you are listening to the before the millions podcasts. Hey, this is Marcus crispy host of the seven minute mental podcast, global entrepeneurship all around. Geek. And you listen to the befall the millions podcast. I am MC Laubscher the cash loon injure, and you're listening to before. Spot cost. You're listening to the before the millions cast a whether you're looking to invest, we're cash flow or Bilden online business that allows you to be location independent you come to the right place. Mr. Hollywood himself presents the before the millions. And now your host the Ray. So what's going on BTM tribe were back for another installment Rebecca the second installment of twenty nine thousand nine, but the eighty eight installment overall and on this episode guys, we were speaking to a real estate investor a real estate agent, and they real estate entrepreneur by benign of Scotty Smith on the subsoil. We're going to tackle a whole lot of mindset. You know, we're going to talk about the fact that Medicare commission has a big role to play in your day to day lives and your decision making. We're gonna talk about some principles that sky lives by and how there is no try there is only do and how he incorporates this and his everyday life. When talk about a development deal Scottie has gone on. And we're going to get a little bit into affordable housing this. Well, but this episode is for you guys is up sodas, one of those episodes really going to help you through the process, especially those of you that are agents that are looking to become. Festers, and especially how Scotty was able to go through that process. So I can't wait for you guys to get to. But first I want to kind kinda just reflect real quick because as of the day that this episode releases you're seven days, or at least seven days into the new year. Whether you're listening to this episode in a week or two weeks after releases or a whole year, you are that many days into this new month where this new year or this new timing your life, many of you guys listen to this episode when it releases you are seven days into the new year. How are you faring till four on your New Year's resolutions? How are you faring on your goals are the gym still packed? Are you still doing everything that you can get your next property under contract? Are you starting your business this year? Are you finally seriously going to set up that appointment with your financial adviser? I mean, what is it for you? And if you find yourself slacking or stalling or procrastinating, then there's something that's lost in transition, or maybe you actually know. You want? And you know, what what your goal is. Or maybe it's too early to tell when you're just getting started. But you can't really though at this point. Right. You just trying different things taking a bunch of maybe shots in the dark, and because you don't really know where you're going. You're maybe you can do to the left a little bit. You can view it to the right? You can completely turn around and not even know picture this. I was listening to a podcast the other day and the guy being interviewed was talking about a time that him his buddies went hiking on a mountain, and they split up into two groups saw him in a few guys. They went one way and the other group guys they went another way. Now when this guy that was being interviewed, and his group of friends came across things that they haven't seen before or obstacles that were in their way. They really smart they had to get really serious and no buckle down and improvised. But they made it to the top of the mountain, and they would actually think that they made it to the top of the mountain in record timing. But when they got to the top they noticed that their friends that other few guys that what the other way. They were already there. So the guy being interviewed he asked his friend. And the other group was like, hey, how did you guys get here? So fast like we work diligently like to get through these obstacles, we busted are. But we got we didn't get any sleep and his friend responded. He was just like I mean, what do you mean? We just followed the trail. You didn't get the map to hand out in the beginning. And they were there so much quicker. They had been there for a while. In fact, they were actually starting to get worried because the guy being interviewed and his friends they hadn't made it up the mountain yet. So the go that you're looking to achieve if there's no plan in place a plan in place at a set before you not by you. I'm sorry to say not by you. But somebody who's already traveled up that mountain before there's no trail there's no map if there's no plan to get somewhere that you are trying to go. But you were looking to going you're not following that plan. You are reinventing the wheel. I'm not saying that you won't be successful. But most people they burn out most people they give up on their dreams. And a lot of the times. It's because they are. Reinventing the wheel again, I'm not saying that you're not going to be successful. Because you can. And you will if you persevere for as long as you need to persevere for as many lift and right wrong. Turns that you're making u-turns that you're making in dead ends at you're running into if you can persevere through all that however long it takes then go ahead reinvent the wheel. And know that you will get to your success. But if you're looking to hit your goals here in two thousand nineteen and you don't have a plan set out a map of the points that you need to hit along the way to guarantee success and guarantee that you get there the most efficient way possible, then you just may not hit your goal this month. We're starting at thirty day challenge. And the reason why there are is called a five K in thirty days. I could just be called five K. Right. But the reason why this challenges called five Cain thirty days is because it adds a second layer as a restriction adds a timetable your plan without a timetable is not a plan. It's a dream. So this challenge. Is is an example of a system a system that people use to get a certain assistant that people use to get a certain desired outcome because if I asked you right now how many ways can think of today going into a field. You've never been into before with no experience. No background no money, no education. And you're able to go in make five thousand ten thousand fifteen thousand dollars in the next thirty sixty or ninety days how many things can you think of this talent with real estate? This vehicle is your map your path your plan for the next thirty days to get started. For those of you looking to jump into real estate, and it's one hundred percent free guys. It's a challenge. So I want to challenge you to put some parameters on these goals. And then once you have parameters now you can define steps in those parameters while if I need to do this in the next thirty days, what do I need to do with the next two weeks? What do I need to do in the next week to get accomplished? What I want to accomplish in two weeks. What are the tasks in the next three days that I need to do to make sure that I hit? My one week goals. What can I do today to hit my three day target? So that I can't hit my one week. Oh, so that I can hit my two week. Oh, so that I can hit my thirty day. Go you take that type of action in every single goal that you have for twenty nine thousand nine hundred guarantee guarantee, you'll be shocked by the results. So for those of you that are interested in real estate. If you're interested in this talent, visit before the millions dot com force lasts five K. That's before the millions dot com. Forced last five K can get started with this challenge. Sooner rather than later for the rest of you with your goals, set those parameters, and then get really really specific and really granular with the tasks that are needed to complete the goals that you've set for yourself. That's how we're going to start this episode guys, really powerful stuff. Let's get to tip of the week as if that wasn't already that was the tip of the month. I mean, that's the tip for the next thirty days. And we're starting this challenge in about two days or so if you're listening to this and six months in the future, you can start your challenge. Right now and everything that's open to everybody. That's taken the challenge in January and February and June or July and September talking to be open to you. So one of the things that are in the challenges that I am answering all questions from all challengers, and it may sound crazy. But I'm actually doing this guys. Check out the challenge you'll see that I'm answering all questions from all challenges. No matter what it is focused on what they're doing. How many questions are asking like, I'm literally answering all questions. So I'm almost like a personal mentor in this challenge. You can't help but to win right? Whenever you take the challenge, I'm here, and I'm waiting for you. So again, if that's something that you're interested in visit before the millions dot com slash five. K now let's get to the tip of the week stoop of the week. With this new iphone up, I guess is not new at this point. But there's a screen time app that just shows you how much time you spend in each app. So like how much I'm you knowing your social media apps how much time you spend on productivity so on and so forth. And I'm pretty sure a lot of people spend good portion of their time on social media, if not most of their tunnels social media, and I'm not saying, it's a bad thing. I'm not saying this wrong. But the fact that you are spending so much time on social media. Why not go ahead and use that platform? Whether it's Facebook Instagram Lincoln when I go ahead and use that platform to enhance your business to enhance your investing. If you're going to be on their anyways, if you're going to be liking double typing pictures, anyways, if you're going to be posting commenting re tweeting all that stuff. Anyways. Why not just out another task and things to do on social media and incorporate your investing get your name out there? Tell people what you're doing. You'd be surprised at just throwing. Up, you know, your hands and saying, hey, I buy real estate or I buy houses cash or having the tee-shirt or posting a pit says that or quote or having it be a caption to your picture, whatever a quick video thirty second video saying, hey, I buy houses in Houston, Texas, if you or somebody, you know, this looking to sell their house, contact me just so even your friends know what you're doing. I mean, that's powerful money. People. Don't look at that. As a strategy that is a strategy that is actually an effective strategy for getting deals just being present being on social media. And letting your presence known letting people know what you do it build your reputation it positions you as that, you know, that person whenever somebody hears of somebody at work. I like I'm trying to sell my home think things aren't going good. And I think maybe need to sell really really fast it positions you as that person that the coworker thinks about whenever they hear their co say that until my house, and then your friend hits you like, hey, no, I saw that you buying real estate. I wanted to connect you with. I mean these. Things happen every day. So you social media's here advantage if you're going to be there anyways. Plus you can connect with like minded individuals. So if you're not already doing that you need to start doing that. I mean, you control what goes into your mind, you control. What goals what place through your thoughts? And that goes to what we're watching on TV the things that we're reading the images, we see as we scroll through social media. I mean, all of that control that you would normally have that control that I'm talking about you control. What goes in your mind, all of that control is being taken from you and being put in the hands of the people that you follow. So if you're surrounding yourself at K, if you're following people like for me, if I'm following people back when I was young, you know, the type of France that I had back when I was in summer school. I would only see in be exposed to a certain lifestyle. It'd be my news feeds it'd be on Twitter. If I had one being my Facebook be my text messages, my group chats, and you surround yourself with that. And that's all you know. And that's all you think as possible. So when. You relinquish that control to somebody else. It's very dangerous territory. So not saying you need to be able to control under percent, everything that you see through social media, but why not start challenging yourself, and it's following people. And adding things here time line that are going to be beneficial. They're going to inspire your that are going to motivate you to your goal surround yourself with that for a little bit mixed that in so connect with like minded people or people that you're aspiring to be like last night. Lisa on social media. You can advertise you can show off your property. If you if you're selling all the pictures up in possibly find a buyer, but also other people on social media, and these may be your friends and their congratulating use about schools who right? And they use Macy other people on social media who maybe your target market. And they're like he just thought that I need to hit him up next time. I wanna so it's powerful. Right. So just a few things that kind of consider as you're scrolling through your time line this morning or this evening or this week last, but not least if you need somewhere to start a love for you to connect with me on Instagram. My Instagram is derived. DARA y Eliya O L A L E Y or at derail Dalia, and I mentioned it last week for the very first time that you go ahead and connect with me over there. But already had a few people connect with me on Instagram, and I've learned a little bit about them their story. And it's pretty awesome just to kind of get to know some of the listeners around the world on just recently spoke to a guy who drives a semi, and he uses this podcast to get through his day thought that was mazing so connect Instagram, derail Aaliyah and McCain wait to hear from you. And now your feature presentation. I'm super excited for the guest on today's show. I'm super excited to connect with somebody locally here in Texas. A pleasure introduce you guys to Mr. Scotty Smith. Scotty. How's it going today? I'll go pretty good. Thank you for having me pretty management in his although is called outside of be here. Awesome. Awesome. Awesome. What would I like to do? Scotty is when I get a new guest on the show, especially somebody of your caliber, we're going to talk about how you differ from a lot of the guests because you are on the agent side of things and you're going to have so much insight. That's going to be so different from a lot of the beliefs that people have and you're going to be able to kind of challenge, some people's belief. So let's might be I take it back talk inception of Mr. Scotty Smith. So I have a twelve siblings blended family, you know, my mother and my father liked braiding budge. They each had three coming into the mayor's in have for more. And so it's been it's been pretty phenomenal growing up in household was totally different personalities me as middle child. You know, the true, you know, the the me of middle child syndrome. It's been pretty interesting looking back up going that we didn't have you know, that's all that we eat and being able to take some of those life lessons of different personalities fire to what I have going on now. And so I started as an entrepreneur as a young kid with my brother, major not pretty interesting or we used to collect aren't combs neighborhood and spray paint to the dollar store. Get one dollar baskets with the park. It'd be nice have nice range. He'll sell them during Christmas time cell during Christmastime to get money to buy our brothers and our sisters in in our parents Christmas gifts, and so that's where the the horror world in just the real innovation. Sorry this as a young kid in. So I came up here to Dallas area man, when I was a house eighteen it really never looked back in my first real estate class is my professor told us, you know, as a freshman look. It is I walked in as he's listen if you guys don't own real estate by the end of this class. I haven't taught you anything, and you have learned anything in aspe- PG thirteen version of what he says he as explicit in there. Nature of this show. I'll keep that there. But you know, that's what he told us in for me didn't make sense just the mindset of owning real estate at the age of eighteen I just couldn't fathom doing that. Because you know, I went home that Houston. I still had a curfew him mothers. So it'd be able to disassociate the mindset of, you know, having to be in somebody else's house by thirty time to owning your own it, just kind of blew my mind. And so from there, I didn't own it. But I did get a really substantial scholarship at the end of that semester. The next semester, I took when I have from the scholarship bought my first house at the age of nineteen and it was from that transaction that I learned a lot about the the real estate agent aspect of it. I wasn't really you know, that excited about the age that I hadn't. So I was thousand seven in our wasn't really happy about that. And so I got my license when I got my license about a couple more houses. And this is always before. I turned to one and it was a pre phenomenon couldn't go to the bar. But I I have real estate as as the my journey that was the star of my journey. Let me take it back really quick Scotty because you're sitting in class. Maybe it was the first class in your professor said if you don't own real estate by the end of this semester. Basically like, what are you doing with yourself? What are you doing what your life and eighteen I'm looking at that classroom like who's actually gonna take this man seriously? But we. Kinda stuck out to you. Yeah. Do over that semester. And over the next sounds like over the next few semesters. You would you just had this? Maybe this knowing like, hey, let me let me see what this about let me get one foot in let me by one. Let me do something. Let me figure this out. And you got your first one. So what did you do with that property? And then what that opened up? I guess mentally free to be like, okay. Can I do more of this? Do I want to go? Get my license. Okay. What is going to now? Go into this profession full-time like what was kind of the inception from that point. Yes. So when I when I participate house, the original thought was, hey, I'm living rent some rooms out, which I did, you know, so me and a couple of buddies in any comments town renting the apartments, it's pretty expensive in in. So I gave my buddies a two hundred dollar discount when everything else was going on. So I had to blooms that I was renting about five hundred bucks a month that was covering the rent, then some a mortgage invent some, and so we know really the dart was I wanna use this as a a wealth building via, you know, how do I build wealth using his real estate, and, you know, coming from children, you know, mom's not in had avid degree pops didn't have degree. I'll just put yourself in a perspective of how how we're living in, you know, my pops he's in you know, with the heavily file right now. But. He wasn't entrepreneur added. Core didn't really have all the systems in place. But he really did work hard for 'em really, cutting were you around people were you around other homeowners like the parents own their home at the time. Like was that something common in the situation that you were in in the people that you're around. Now, it wasn't really common. My parents try really really hard. And I know we kind of talked beforehand about that tribe were, but they really did, you know, and they put they did their best, but they weren't able to really, you know, garnish in together the homeownership aspect of it. And so from, you know, looking at my past I did not want that to be Fresno future. The reason really quick the reason I ask you that is because it's really really hard for us to go against the grain of something. You know, wherever we are, whatever. Whatever situation we grow up in where it's our culture subsystems, our education, whatever it is kind of hard for us to go against the grain in the people around us. I mean, you coming from twelve siblings like people around us when they. I see that. We're doing something that's against the grain. Sometimes it's like, hey. Hey, hey, what are you doing? Hey, maybe you shouldn't be doing this. Hey, NS, not because they're sometimes it is because they're worried worried for you. But sometimes it's because they're worried that you're going to different way that you're a bit different that something that's kind of talk about some of the challenges that you had maybe some of the conversations that you have that process of that first one, you know, what a mentor of mine in his mentor mind told me not to buy that house. He told me he said Scotty don't buy that house. You're too young. You don't need to do that, you know, graduate in being in focus on that. I said, well, look, the Bank is giving me a long I have the money from scholarship to get why not the hit, you know. So I had my plan in my mind, it made sense. Right. And so what in the patent is a little bit of a fallen out because of that because I really want this, and I didn't want someone to tell me not to do it and not be able to justify the reason for the telling to everything. That she was telling me at the time didn't make sense. And so in the case, you know, after I collected my first to rent checks. I said her a little check from fifty bucks was my, you know, I appreciate you telling me not to do it. But I've done it. This is a little bit of access that I have because of my rent checks against what has still go boxing who, you know? I'm not one of those starving college students in. Oh, so it was just a it was I will call just payment for her advice. Although I accepted it just pavement for advice. I love the event think about that that type of advice in always take heed to when you get a buy from somebody you consider the person that you're getting that advice from it. Although they they're, you know, they're well intentioned. It can be your parents. It can be your siblings. It can be your grandparents, whoever they're well intentioned. But you always have to think about the source of added vice person somebody who's done or not done what they're looking to tell me to do or not do. Haven't bought a piece of real estate if you haven't invested in the stock market, if you have in became a firefighter, but you tell me how to go about something that you haven't done it. It's really really hard. And I tell people I mean, you shouldn't take advice from those people unless you know, you're talking to somebody who's actually done that who's actually been. There was actually this is my experience. This is what I would I would tell I would recommend for you. But even then you have to take that with a grain of salt. So I love that. Now, Scott, let's fast forward a little bit to the fact that you've now become an agent, you haven't opened up your LLC you haven't. Because you you told me before this call started childless see that eventually we're gonna talk about how that transformed, but I'm having this hit your ears already not aging. What are some of your ambitions at the time? What are you thinking is the top for you? Are you thinking of yourself as an entrepreneur at this time? Are you thinking about starting a business kind of what it would have some of your thoughts at this time? Yeah. And so my initial thought as agent was to really just cut out the agents that were helping me by investment property. It's my goal was to be investors. My goal was to capitalize on what was happening in the market ago was to vise meeting properties as young as accidents about a mile roller. No, right. And so I wanted to make certain that I was able to do those things. Well course, sometimes we have his player. You know, Mike Tyson said everybody has a plan until they get punched in the mouth. Right. So my big punch in the mouth as a as it nineteen twenty year old young man is I had a really big flips. And I was just finishing at the end of two thousand seven and then at the end at the beginning of two thousand eight the bubble books, and it was a punch of the mouth. And so I had this asset on my books as a young guy trying to figure out what to do. And so I kind of fell into being an agent really by default because you know, a got this property on needed to sell it fired. The guy who was helping me with some of this stuff. And I started trying to market enlisted thing on my own. I started as an aged really to be able to. Capitalize on some of the market stuff that realtors get to help me with my properties in things that I was do in some with market turn. I went into you know, to Grimaud riot, helping also my college as France find apartments in lease isn't folks that didn't wanna get their college for shutdown canvas. So we moved them on campus. And then you know, that's the point where I was bringing Baillieu based on how I was teaching people apart from a perspective of artisan liken, investor one Howard vestments purchases. Arginine love your fix enough. They may keep it for a appearance. They may sell it for market value. You're homeowner. Let's think about like that. It's not your forever homeowner first around as by something. That's not really what, you know, not shining blistering at the moment, but it can't be once you put a little bit of workers to install teaching people how build equity and really Bill well using estate still do to this day site on the creek, man. That's. That's awesome. I didn't know that you were coming from that perspective. So that's amazing. So I'm glad that you're able to kind of kind of shed light to that. Now. This was kind of what you in for a while. When did you start thinking like, hey, like, I want to start this business? I want to create Milo. See I wanna I wanna I wanna see how big I can get this winded. Those start dot start coming in. What was what was kind of the progression of that? What was the first thing you did? So here's the progression rights two thousand seven two thousand eight it was hard for everybody in Rosales Harf everybody period. Right. But my backup plan was hey, I had a degree in county, and finance, and I always go utilize those things, and so I got one of the big four county firms to pay for about masters at Notre Dame got masters in accounting at work for them for years. But while I was working for them. I was still working on my business a real estate, and I just couldn't figure out for the while. I was so unhappy until one day I'm just kind of looked up. And I said, I don't wanna key. Doing this. I wanna be a being counter no offense to any of our counts out there. But I just couldn't do it anymore. I just couldn't I was trapped in closet size offices auditing the books of you know, multi-million dollar corporations and me that it was. No fulfillment. It literally was no filming. And so at that point, you not talk to my partner, they had me with it. Listen, I'm unhappy. I think it'd be best me to leave. I'm just not going to be productive is not good. So I left in two months later, two months later started the business that I had written out. And so I'm a plan around up down to you know, down to the color of the carpet in office right now, and they're not just kinda rolled it out from there. So first offer was a model apartment downtown Dallas. And we just got a rocket off nurse started skies with the second associates back in may of twenty eleven. That's awesome. It's awesome. So let's let's sell from twenty eleven. On. Let's just say your your business is building. And it's going on a on a regular trajectory. I wanna talk about the first major hiccup. So like, maybe you know, you can call it a failure. I want to call it, you know, feedback. But how is this failure in your business in those first couple years? How is that kind of set you up for later success year, man, you know, what it came really really quickly. Right. It came quickly. And so, you know, I didn't leave really until I had about six months of expenses saved up. I because that's what they tell you saying six months where the expenses did. But that was personal expenses. Right. Completely negate in the fact that I probably should have a little reserved from a business perspective. And so I do through our reserves on a personal side really really quick look at the end of it either. Might yo this is this is harder than I thought to be an entrepreneur in. So, you know, just as a broker was me. You know, I have one agent agent was Scotty. Myth. So all of my efforts were on me. Just looked up. Goodness gracious. How in the heck might pay for rent next month? How we're gonna do this know I had some things that worth giving up to close. They were new bills. Take a little longer to close out. This is crazy. But again, I looked and a hat my fallback plan, which was my accounting degree. And so I was like, you know, what I'm just do this. It's hard out here. Let me go back to work for county interview fourteen times over two weeks one call back from guy down in a crescent hotel or the crescent office space came into his office. That was the shortest interview that I ever been in urban. This was my second interview with this company interviewed lasted all of five maybe seven minutes max pretty much. He brought me down near nasty to three questions. May question was why are you trying to you know, why would you like to work for us to what you do? Scotties with sons is this research, you found mine was for no one. He did. He said last thing was you don't wanna work for us. You just hit a snag? Didn't you? I'm not gonna let our company be a fallback for you and your snag your successful. So go be successful. And almost with tears in my eyes, not because the motivation 'cause I didn't realize I'm thinking to myself, y'all. I just spend my my last twenty bucks on parking at the crescent. So ultimately, you know, sat there stuff because he just left and I'll say, okay. So I just walked down a number sitting in the car in the parking garage. I just said, okay. You know, it's time to pick it up Vanessa one idea from there from that point forward. I just started down dollars on phones pay where can wherever I was trying to racks knocking on doors. Look, it would whatever I needed to do to make it happen is what I started doing was just one of those things where I just say, you know, what is not failure. It is feedback. You talk about trying something. You at that point before that conversation, all you were doing was trying. So at that point that you had that conversation at the time, you didn't think that conversation was a blessing. But you flip the switch, and I want to kind of talk about that moment for you. Because there are many people out there who believe that. They're taking action are in that trying phase runs out of that triumph as especially here at the end of twenty eighteen a lot of people coming up with New Year's resolutions. And they're waiting for that, you know, I'm I'm this new me. And this that in third how do they go? I'm trying to do this. I am actually doing this. Is this something that you have to put both be aimed? I mean, what did you know? So the first thing man in Enron. I really I've grown to hate the word. Try a really have an so I'm not as far worse wars fan. But I've seen a couple of clips with iota, and he was to, you know, Luke Skywalker. And he you know, he looks to the effect of living. Try those like, yo listen. There is no try do do not. So and I kind kinda switched up. There's no trial and you only do or not do. So which one is it. And so I did an exercise people not a chair in front of everybody. I said I have a chat right now for ten thousand dollars if somebody here condemn straight to me how to try and move this chair. I still have that check. Because there's no way that you can physically show somebody that you're trying really gonna move it. Or you're not gonna move it. Which one is it. And so tries such limiting word that people have to, you know, it's it's a mindset shift. You have to remove the word try from euro, Abby, Larry and subconsciously you'll get out that you know, that belief that oh, if I don't make it the I know at Tri do you have to do we have to make up your mind that I'm going to do this, and I'm going to make his hat or not gonna do this. And I'm not gonna make this whatever it is. No use the word trying to have it as an excuse it. Oh, really readjust in recalibrate your mindset. And so I went to a training class. We talked about just kinda Medicare mission. And I'm really big on that now is Medicare Nisshin essentially means thinking about what you're thinking about take a metal position outside of your mind in look at. What you thinking about? And when you put a little bit focused on that. And put a little bit focus on what your mind is doing around the goes things that you're you're looking at work to accomplish D, And you start to empower yourself and pretty much give yourself the okay to become great into become an accomplish the things that you look to accomplish Scott, tell Jeter, not know you're coming with all. Surprise, man. I want to kind of wrap this try segment up in one bow when I wanna go back to your life and your personal experience. Now in the past five years when when it comes to that mindset shift. What's a new belief or what's new behavior or habit that you've may be picked up the help you just go from unmatched trying I'm doing this meditation as it constantly going back to that, you know, being present being right? What are you doing to make sure that you reinforce him this belief that you have so meditation affirmation prayer and understanding that pace is grace? Right. Oftentimes, we we set these really big goals and forget that these really big goals takes small incremental increases in goes that you need to accomplish every single day to get that. And so pace is grace. My brother major talks about that a lot. He says Scotty Pacers. Grace. I know you wanna have, you know, five million dollars but net income action, but paces grace gets tube into three point five. It gets five understand that you have. To do small in mental increases of things every single day month, year, etc. I love it. I love it. While you have ladies and gentlemen, this has been simply phenomenal in before we get to the last segment of the shuttle, I kinda wanna wrap up with your current lifestyle. Right now, the things that you're doing, but we're going to get to the fun aspect. But on the business aspect, you're doing some really really awesome things in the development Spicer chronic talk about where you are today. What you're doing even even your company where that's been taken off. So I kinda wanna give the listeners like, hey, like, we heard about all his early beginnings. But what's going on with him? Now when you kind of shared this will mean earlier kinda share with our listeners what you have Ario. So in twenty eleven or twenty eleven is when I started skies with an associate's week rule. You know, got recognize from the national association of realtors as the top thirty brokers on the earning out picked up on par fours real estate council. And so I kinda change some of the big goals in the hat on my vision board. And so I'm like, okay. What's next? What next then I realize look at my record number. You know, we were at you know, we're kind of at the same same point for it was about two years. Okay. I need a shift. I need something dif- money to breath, the fresh air soft about rebranding reminded rebrand in a new and cool franchise came up. What I did was. I just wind myself with this Archer or Oak Ridge that has about twelve thousand as across nation, and we chained up in open Dallas's first office of realty one group. And so now, we switched from Scottish with an associates to realty one roof, our choice, and then that you know, we serve a interesting demographic everybody under the two hundred fifty thousand dollar house price point in everybody's in that price point. It's a huge market in. So a lot of times. What happens is we have clients who, you know, submit offers on ten or twelve home before they find something before they you know, they don't get out being by an investor and meet recognize. Is that bangle news got together a couple years ago and say, okay, how we will make sure that didn't continue to happen. And so we saw opportunity in area that was just south of downtown only about five minutes. There's a bunch of making man is often overlooked the city the city is the red headed stepchild area and fully just from a left to the on. We saw some opportunity there. We ain't we ought to man. And we said this is what we're gonna do what Bill houses here with the mindset one rebuild this community because who we're going to make certain that our clients that we serve here royalty one route at that point. He was at his those. But here at our office have I deals at what would building, but they will have to outbid or they don't have to get into a bidding woke them investors. Other of the our clients have specific I can have pick of the litter when it comes what we're building in the end, we want to make certain that people understood that it could be it could still build. Wealth in this area. Purchasing a new build in area. That's got now a will not be forgotten in the next five ten years. And so you know, what we started going? We built some affordable housing. We're about to wrap up the last two, you know, energy efficient homes really modern style in area that people just just said just forget, and so we're we're really having some fun with that is the different part of the real estate business. But it's allowing us at Ford missed opportunity to do great things in the community and for our class. I was rose. Deltec news. Yeah. So I want to touch on the third aspect of bed, which is the actual business. I mean for your business to continue being a business. Of course, you still have to remain profitable. So I wanna talk about the fact that it sounds like your, Robin Hood. And you're able to, you know, get these deals and actually keep them away from investors and get your clients into these deals, which is awesome. But from a bit aspect how is that helping you and your in your business grow. Yeah. Obviously, our brokerage list and sales all those. And so our ages get paid commission once they actually sell it. It's a, you know, their clients that we have directly here in office. So we get paid. There also is a subsidiary of the brokerage in. So the development side, we get paid Belfer fees, and we share in the process, and so yes, it is Robin Hood perspective. But I at the end of the day that keep the lights on. And this is a win for us to do. Good and make some money while we do. There you go. I love it. And you know, guys, the focus. Twenty nineteen is this lifestyle business, and I want to less talk about you know, how we're doing intricate deals with investors and how you can talk you can talk to agents and make sure you find agent friendly investors, rather talk to people who are entrepreneurs who are doing business on a daily day-to-day basis. Top to them how how they built the risen something. We're listening to house got he has built his business over the years. How we started as I mean eighteen year old dinosaurs property in going through some of the trials and tribulations that he's gone through. Now, he's built his lifestyle business lifestyle. Designed acceleration eggs. What is your favorite before the millions book that will be the go giver by John de man, pretty phenomenal book really to put it? Bluntly. You know, kinda dude aspect do good for someone else. And did it all come back to you give she'll be giving back to you press? Down shaking together. You know? So go give her that is awesome. I love that book. I recently just read that book, and it's definitely at the top of my twenty eighteen book lists. So definitely acted out listeners. What is your favorite lifestyle design at this can be a business app or tool? Okay. Evernote Evernote is pretty phenomenal. I just found out that I can take him pitching and turn it into a PDF. So it has really helped me because I just exported over to this deal that I have caused signed now. And I just you know, sign contracts, docs, whatever needs to be signed. So that's awesome. That's awesome. I love Evernote. What do you enjoy most about the way your lifestyle is currently designed so currently so I'm single father? I have a daughter of his son. And specifically I love the fact that after this meeting I can go up to their school and just kind of walk around halls eek my head and their window and just make sure they're doing what they'd like to do or what they need to do. So the being able to be flexible with my time trolling my time. So that I can spend as much time with my children as possible. I love that love that. That's awesome. That's awesome. That is the ultimate lifestyle is on. I think that's every parent's dreams. So you're actually live in that house. So that's amazing. What were the sacrifices that you knew you had to make before the millions to get to where you are today. You know, what batteries around relationships, and sometimes you have to Jack apply some relationships where you were five years ago. It's not where you're going to be five years from now. And sometimes those people who with you five years ago, they're not prepared for you in this season of your life. And so they've not supposed to go with you into the next season of your life. And you got you have to have sensible wearing a higher conscious level to realize, you know, who's supposed to go with you. And who's not and so sometimes have to really shake up your circles answers, shake of your circle of your network. So so I to kind of touch laborat- on that really quick and just kind of dive in when you do that. Like, it's easy to talk about it. But when you actually have people in your life that they've been in your life for a while. I mean, are you having conversations or you just like no longer just going to certain certain things like talk about. What that that process entails? When you're breaking off these friendships are when you're when you're finding new friends to kind of make sure that you're you're keeping your mind wearing know. You know in spending Jesse yesterday of mine was telling me about how everybody was asking any man. We're Scotty been worse. Got you know, I spend a lot of time, you know, in bars and clubs back in my are you of your earlier, you know, I was a promoter days. So I was about time things about our we shouldn't have been doing. And so when you decide that you're gonna make shift in your lives for the better, you'd side the trick you need to have a medical Asti. A conscious level to really get a really big. Oh, you can't do those things. And so for me, it was hardy, and it was it was a lot of things to help. You change your mind delay from day to day works. I was doing. And I was only about that was me trying to suppress the fact that I had to work hard. I want you to your conscious light you realize you don't need that stuff. And so those people who still won't be in that space or stillness bays, and you have decide. Okay. Well, you know, my four times a weekend going out, you know, from Thursday to Sunday is probably coming down to wonder once or twice a month. So now things starts the funding because they know your your group of people at your around started. You're being funny or they start the ink interior in a year, two good form. And then all of a sudden you pop up, and you say, listen, you know, I just bought another house. I just bought some more real estate. I just act ten more age. Business businesses tweet thirty four than what he did last year. And that's not using the Mars close as much as I was and. Two things will happen. They will applaud you for the attempt back. So he because you're starting to get either jealous, envious, whatever. And that's okay. You know, when they when they do that that just means that they're not ready equipped to be Juba this next seas. They have to realize that man. That's awesome powerful words who was essential to your growth before the millions. And why so this is the opposite end of that spectrum. And this is from was not essential now who is a central CO grope who'd you essential to my brother major major just got nominated for his first ever Grammy. He is is dynamics do a little blood check out his music. You know now that's major on Instagram for nominal gentleman. He talks I haven't talked often he's out in LA. But I told him a couple weeks ago said man, you know, what I want you to know that I need you to keep going. I need you to press all because I feed off of you and what you're doing it. So positive. You may not know this, but you help me out in so many ways. And so my brother has been essential to Mark rope. Both spiritually and fashionable worms in on so many levels as courtesy that stuff. I like the 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? So I talk about my set often. Right. And it's it's hard for somebody to change their habits, and their mindset, if they're in what we call a certain neurological level, we think in a way that we think, and it's because of our cultural backgrounds are upbringing is because of, you know, maybe somebody was in our mind as a child that said things that, you know, just kinda stuck in our sub conscious, and as our sub conscious is kind of like a computer in the background, and it just don't want this work, and we don't know his work, but it's worth you. And so the analogy that I like to give is back to the. Does sixty four that we used to have on just rattling though, the game was Messner. Most people would take the game out blow in it his crazy car, even though they know is defective. They'll blow in and put it back in there and charter player when what we need to do as people were nowhere to really have a mindset shift is exit gain out instead of blowing in full hitting tossed away. Put in a new game. Put in something else that will really help you shift. Your mindset be impressed to wars greatness because once again to our mind, and once we start thinking about and understanding what we're thinking about then we can start shifting our behavior which caused us to shift the environment, and the people that were around things that would around things that we do is stuck here in your mind. Simply because of what you learned in your pass. We gotta get this on a tedtalk, man. This is awesome. So in closing men, like I said, this has been this has been powerful. I mean, we've literally journey through your story. And we we've learnt how you built your business. And we we know what you do now and the vice gave and we're not we're not trying we're doing. Yeah. Yeah. Try out of your vocabulary. And we're gonna find I mean, that's that's phenomenal. So if the listeners kinda wanna get a hold of you, they want to reach out to you. They want to learn a little bit more about your company and your services and what you're offering where can they find some formation? So just check me out on Instagram Scotty ill Smith on Instagram that Scotty with an I E or you can just shoot me an Email at Scotty at our OG first choice dot com. Those are the two best ways to get in contact with. I'm here to help all your Bruce St. needs anything if you just need an accountability partner. I'm with that too. So just reach out to Email me. Let's talk. Awesome. Awesome. Awesome. Scott. This has been amazing podcasts. If you thank you so much for the value that you've provided, and we'll talk to you very very soon. Absolutely. Thank you for having me. Thanks for tuning into today show. If you like what you've heard, and you're interested in seeing if you're a good fit work with the before the millions team. Here's what I want you to do next head over to before the millions dot com. Tom Ford slash call. That's before the millions dot com slash call and book an appointment to speak with our team. We'll get on the phone with you for about forty five minutes, and we'll get you. Crystal clear on three things number one. What is your cash flow goal? How much are you looking to make every month? Number two, your personalized investing strategy and number three the best way to get started using cash flowing rental real estate, remember starting in scaling, your real estate investments and business doesn't happen by itself. You need expert guidance to make it happen. We've helped clients all over the world start in scale. They're investing efforts to six figures and beyond while enjoying life and making the world a better place to find out if we can help you do the same head over to before the millions dot com slash call. I'm Dora Eliya, and let's talk soon.

Mr. Scotty Smith Dallas Scott Aaliyah Facebook Texas Houston France Medicare commission partner Gina Lofton MC Laubscher Derek Heather haven Marcus
BTM 79: Passive Landlording and Eviction Horrors with Stephanie Wankel

Before the Millions

51:22 min | 2 years ago

BTM 79: Passive Landlording and Eviction Horrors with Stephanie Wankel

"This is the right Eliya. You're listening to the before the Ming and podcast episode seven day nine are you ready to be the master architect of your life? Are you ready to design your business and invest the needs that create the lifestyle you've always dreamt up? 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 podcast. I am Gina Lofton. I am an investor and you're listening to the the core the millions podcast. Hey there. My name is Heather haven would marketing coach and global entrepreneur. And you are listening to the before the millions podcasts. Hey, this is Marcus crispy host of the seven minute men to podcast global entrepreneur all round. Geek. And you listen to the befall the millions podcast. I am MC Laubscher the cash loon injure, and you're listening to before the millions bought cost. You're listening to the before the millions fund cast. Whether you're looking to invest where cash flow all building online business that allows you to be location, independent you've come to the right place. Mr. Hollywood himself presents the be four the millions. Now, your host d'auray. Hey, what's up back for another installment? Another episode of the before the men's podcast and as usual, I'm your host d'auray Eliya on today's episode. We have a ten year veteran real estate investor. Mrs Stephanie wankle today is not one of those glitz and glamour episodes. I mean, when we think about real estate investing the way we talk about it. We often throw out a lot of Los terminology and sometimes terminology gets misconstrued. So one of the words that kind of sticks out in my head is passive, what is passive actually mean how passive is passive and is passive the same for everybody. Or is it subjective? I think about creating passive income and more specifically using real estate as that vehicle for your passive income, and the are many different avenues to get into real estate, some active some passive. Some appear to be passive, but other people would consider active. I mean, everybody's opinion is different. Now. I will say that landlord ING, which is what we're talking about. On today's episode. You would have probably most real estate investments, maybe seventy to eighty percent of real estate investors. Say that landlord Dugan is not is not a passive. It's not a passive thing. And the you would have a good a good amount. Maybe twenty to thirty percent of people saying, no, I mean, it's very passive, and depending on how you structure your business in your investment. It can be passive now. There's another question their shitty, be passive. Should you be so hands off in your business to where you're just collecting the check is that how you truly stay wealthy you so many questions inherit, but you know, what we want to focus on today is the fact that landlord ING is not quote, unquote, passive, there are other real estate vehicles out there that will allow you to create in the. Sense what we like to call passive income, even as a landlord hiring. What we like to call a property manager will have euro a little bit. Maybe even a lot of bit more, passive, depending on how experienced property manager. Is you guys have heard from many different investors? One pops out in my head right now. Mr. Billy kills. I can't remember what episode is on. But he doesn't live in this country. He doesn't live in the US, and he doesn't really visit all that often. But he's an active real estate investor and all of his investments are in the US. He's probably buying an investment right now. So he's an active investor making active income, some people may say, he's an active investor making passive income. It's all on how you look at it. The fact that most people jump into real estate investing, and they go straight the ones that actually jump into real estate investing, not any of the other byproducts of investing, but actually jump into investing most people go straight into landlord ING and you'll. Often get people with a very very bad experience. You know, you'll see people get that bad experience, and they're like real estate. Investing is the worst thing ever. And these are the people that most most of us will hear from don't buy real estate. Don't become a landlord to AM tenant calls sinks, plumbing, issues vandalism. Just everything right. You hear the horror stories, and because you hear those stories it's like I mean, I'm not doing that. That's not doesn't even sound. Like, it's worth it. Right now, you have those those other people who actually still had those same experiences, and they get into real estate investing in their first four year into that his landlord in. And they're just like man, this is crazy terrible. But this is where I wanna be. And I know that this is not the end all be all and I'm going to learn from this. And maybe this is my mistake because I chose a wrong market or the wrong asset class or or maybe I'm going to discover that I don't want to be a landlord. But I do want to be an investor. So what can I do? I can hire a property manager. I can change my business model, I can become a passive investor and somebody else's deals. I can buy turnkey property that already has all this stuff in place. I mean, there's so many other options. Right. I personally like the fact that when you come in as a landlord, you get that landlord inexperience, and I think that's invaluable. I think in experiences priceless. I personally do not see myself as a landlord do. I still manage some of my units. Yes. But I've learned over the years that that's not what I want to be doing. And I'm able to speak to you guys. You know with hindsight. And I'm just like man, I wouldn't have done things differently. But how I would do things now with the new knowledge that I've gained is what I'm telling you guys is what we're talking about today. So we're going to talk about some horror stories. I mean, I have a few. I know you guys remember back a few months ago. I talked about the fact that a few of my units got robbed. I mean furniture TV's printers electronic successor is everything just gone in that same week. I had property that was vandalized. I mean graffiti on the fence and just terrible. Right. And you hear these stories, and you're just like man like, I don't want to deal with that is crazy. And what makes what makes this worse as that? I had management in place. So I get a call from our property manager thinking that he is taking care of the situation and has taken care of the situation. And I come to find out guys. Here's another really really good secret, always always speak to the cleaning. Ladies or the cleaning crews, always speak to the cleaning crews always create that report built a relationship with them. They're going to tell you everything going on. And that's what happened, you know. After this whole big ordeal talks of the cleaning crew in. She was just like, you know, she was crying to me. She was like d'auray property. And that was about to say as name, I don't wanna say his name, but the property manager. He he so mean, he does this. He does day. He's never here and about huge. She told me everything is everything in my. I mean, my John Lewis dropped know the police report that I thought he filed and he was keeping me in the loop on that report was filed by my cleaning lady, he had never not once visited the property during the whole ordeal and had the cleaning lady report to the property. File a police report she doesn't speak. She barely speaks any English, by the way guy. So I'm on the phone with her daughter, and she's translating for me with her. What her mommy saying? I mean, and the fact that it could have been way worse who knows what type of people stolen from the property. I mean tenants could have been endanger. Right. So who knows how bad it could have really escalated, you think about these stories in these situations that you hear myself and a lot of the guests that come on the shell talk about. And you're just like man, Mike is even worth. Again, guys, hindsight is twenty twenty and I'm the type of person I never have regrets like out take a situation like that. And I'll be like king. That's interesting. What's the positive here? What can I learn from this? And although there was so much learning that I can do from the situation that I had done from the situation. I mean, the what really excites me is the fact that I get to help other people pig pickup property managers. I get to help other people put fail safes in their plan. So that things like this don't happen. I get to help other people pick out the right insurance. So that they get their money back with their equipment back. Immediately. Get help other people, but the nuances of a property manager and landlord relationship, and how bad should go, and what type of documents. Sid be in place to make sure that your property is. Well, looked after I mean, there's so much value there. Right. And this is not value for myself. This is the value for everybody that I'm able to help because of my. One situation. So something that may be worth it for one person may not be worth for another person. Because another person is like I'm out of here. I'm not doing this. And then they go back until their friends that real estate is terrible. I mean, there's risk in everything us, and sometimes that's the cost of doing business. Things are not always gonna go. Right. If they did there wouldn't be any any counterbalance to even tap you on the shoulder every once in a while and let you know that you're good moments. You're great Tom's in life or really all that great. And that you should enjoy them to the fullest. Because there's no comparison I've come close to evicting tenants multiple times multiple times skies and the person who have on the show Stephanie she's invited so many tenants and she lives in a tenant friendly state. And that's not good for this scenario for me as close as I've come to evicting tenants. The fact that I live in the landlord friendly state guys. Let me give you a quick tip in Texas and other. And Lord friendly stikes. It doesn't matter. What happens if your tenant has not paid rent, you know, in a lot of states when you go to court with tenants. They're going to have their stories. They're going to be like, hey, my landlord hasn't fixed this in two months, and I've been asking him or I've been asking her, and I've been blowing up their phone, and you know, this is not working, and I put in an order for this. And you know, this over here is just terrible. I mean, they can go on and they can really make it really lay it on thick and Oregon to even be something personal like, my mom is you know, in the hospital, and she just got. I mean, it could be whatever it is. Right. And depending on how bad it is how serious it is how how the judge wants to favor. I mean, you may not actually be able to evict that tenant. And that is a scary thought for a landlord right in Texas. However, it doesn't matter what their situation is. Doesn't matter. What they say. It doesn't matter. What actually going on? If they have no way to prove that they've paid rent. When went do they are being evicted. So, you know, they often have this announcement like, hey tall of the Senate to our hearing vixen court if you have not if you are not current on rent. Meaning you have no way to prove that you've paid rent. You will not win the judgment. You will not. So you might as well leave. Now, you see all the tennis looking around. And you would think maybe a few of them would Li I mean, nobody leaves. Right time. Nobody leaves and then one by one they're going plead their case, they say, hey, this is what's going on. I just got a divorce. I haven't received my child support payment this month. Whatever it is. I'm not saying I'm not personally saying these things are not valid, by the way, guys. I'm just telling you guys helpings work in Texas. But they get them with their long story that lasts five ten minutes. And at the end of it. The judge is going to ask. Well, do you have a way to show that you've made your rent payment for the month or for last month when whenever it is? And if they don't they haven't then that tenant is getting the victim, no questions asked every single scenario. I mean, everybody would think that they had their own special case like no, that's why everybody stays right? I mean, you've you hear the announcement. You're just like, okay. Well, I'm going to stay because I know my scenarios different eight doesn't matter again, guys not all are like this. So no, your landlord tenant laws, very important there. Are actual professional tenants out there. And that is a as a coin phrase, by the way, professional tenant who know how to work the system in tenant friendly states, and they can squat meaning they can stay on your property and not pay rent for two months for three months. Six months. I've seen cases drought as long as year. It's a scary thought in a scary situation and being so no your landlord tenant laws. Let's get to the show. Let's talk to Stephanie about some of her woes in this arena and talk about her solution. And how she's been able to not only stay in the real estate game but thrive in the real estate game and create what she likes to call passive income to raise of the week. In two thousand seventeen especially when we first lost a podcast. I did sat out item shots every single episode. And these were for the people that were leaving reviews naiton's now in two thousand eighteen on may have done that maybe once twice or maybe three times, and I had some south's to do. Let's let's do outs tip of the week. So really quick if you haven't already left a review in items go do that now and this applies to Android users as well. So whatever app you are using whether that packet cast, Stitcher soundcloud, I don't think wrong time crowd. There's like fifty of them that we get aggregated on. So you're on if you're on any of those I want you to go ahead and leave a review. This is the best way that you can pour into this community help us reach more people because what happens when you leave a review items and these other platforms. They say, okay, people actually enjoy the show who would think it. Let's put it in front of more people because they want people to stay in their apps. Right. They want people to enjoy what it is that people are consuming. So they have to this is the feedback that they get to know that. Hey, this is good stuff. So if you haven't already please leave us, a review nights base, honest as possible not soliciting five-star reviews, although that would be amazing, but leave us a review so sat out to, sir. Leumi all the way from Nigeria two thumbs up stormed upon your podcast, find it. So amazing full of great insight. Keep up the good work sat out to drew Sopher. Jones you need to listen to this show. A great host who's knowledgeable and entertaining set out to rebel wrong. The title of her review is learn you like the capital letter you as in maybe. University. So learn university, which is what she's categorizing this podcast. I love it. I've learned some great tricks for financial freedom sat out to say or see Scott d'auray doesn't just interview and take from his guests. He also provides great insights, and obviously knows what he should say and do to help his audience. It's an amazing podcast where you know, everything you learned can be used in whatever it is that you want to do in life. Hey, I love that one. That's beautiful sat out to Tom Antion from the United States. Listen to all marquan talking about money isn't everything in multifamily real estate units. Also, this show is perfect. Right. Toxic stent simply about getting away from working for others. He's darn right about that sat out to I've got amnesia money isn't everything man. Everybody really loved that episode that money isn't everything episode with Omar marquan, you guys check that episode out. This is. A great podcast. I like the perspective on money and the message shot out to crystal seven one seven four a compelling podcast that will ship your mindset as someone who has tried to succeed as an entrepreneur for more decades than I'd like to admit, I found the advice and interviews on the before the millions podcasts. Compelling I especially enjoyed episode. Seventy-three money isn't not what everybody literally loves us out. I have to go back and listen to it myself. I especially enjoyed episode Seventy-three money isn't everything with all marquan. It wasn't until recently that I found my groove. And what sets my soul on fire. How important is money in this journey? What about time? Is there such thing as work life balance? This episode has helped shift my mindset, it was raw on this and deeply deeply deeply with the extra emphasis cook. Because I mean, she did it with the extra. Emphasis, you capitalize the second people. So I had to put the deeply in their anyways. Okay. So it was raw honest and deeply deeply resonating. The rise of fantastic hosts who keeps you engaged in hooked on every word highly recommended. Okay, that that's my favorite. I I said I said I had a favorite before. But this one is now my favorite. Okay. Moving on sat out to Chelsea Mero. Inspirational and informative not only did. I learn a few things I also feel motivated inspired fit. Vice given is aimed at entrepreneurial real estate investing. But it can also be applicable in all aspects of life. No matter what field you're in. Awesome sat out to nickname is taken great info with a great production value. I haven't even I mean, that's the title. I haven't read the actual review yet, but effect that he said the production is great or she said, I dunno nickname Seiken. This is awesome. This podcast. Sounds great. Very easy on the Air's making. A pleasant listen there are fascinating interviews, ongoing wealth and very motivational messages behind them as well. Love the positivity surrounding crafting your own success story, highly recommended highly recommended podcast for entrepreneurs setup to bowdoin when a when a fantastic resource for success in wealth. This is an extremely informative podcast that I recommend everyone interested in making wealth should listen to without haste the episode that I listened to featured Ryan g ripe a real estate entrepreneur who goes into great detail about hard money lending along with the good and the bad of that source d'auray skills as an interviewer and host were impressive. You can feel the confidence that he knows what he's talking about. You want to be successful than show up show up on time show up prepared and listened to the BTM show, man, you guys could be my copywriters swear. Sat out to on the edge. I am great show for investors and entrepreneurs first off this show is geared towards those ready to take the leap into real estate. Investing derives, a great host with the great voice calm and soothing yet with a sense of urgency. That is motivating okay. The episodes are broken down the medically. So you can find a topic that pertains to use specifically tons of information with real world applicability check out the show if you're considering investment options. Yes, baby. ES? Shut out too. Dizzy two three eight nine great insights, really enjoyable easy. Listen and solid. Sound quality. Any entrepreneur can find resourceful information by listening to this pot? Tons of high quality guests to end, the episodes are essentially timeless last, but not least. And I'm not sure how to pronounce this name. It's j w y n t so shutout to joint. I dunno. Okay. This is a great show. The host is very informative information that he is presenting this also accurate if you're an entrepreneur, you can definitely take notes or be reassured of what you've heard in the past host plant the seeds and more or less leaves you with the tools to maintain the garden. Great show. Okay, guys. So if you haven't already left a review, please go to your items directory, or whatever podcasting apps that you're using if you're on the computer visible for the Maine's dot com. However, you're hearing my voice lever review. And if you think that you. You're using one of those apps that I haven't heard of yet libra review screen shot it to me, and I'll post it on my social media. And of course, give you a shot out in the podcast. So there you have it. If you haven't already left a review for us guys. Go ahead in go-to items or your favorite podcasting directory and search for before the millions and leave us a review today. I'll be looking out for those and I'll be doing shutouts. Let's get to the show. And now your feature presentation on today's show, we are welcoming MRs Stephanie winkle Stephanie's gonna tell us ten about her tenant eviction horror stories. I just want to kind of give you guys a quick glimpse in. We'll come right in. But how's it going? Thanks are great things are going gray. And today's great nice and sunny all things are taught the listeners a little bit about your story in a little bit about your background. But I wanted to second time machine. I want us to handle just talk about the inception of. Your entrepreneurial mind. So let me take it back a little bit further before that and talk about what you are up to right before the inception in right before you thought that you want to start your own business. You wanted to become a real estate investor? You want us to become an entrepreneur. What were you doing at the time? I know it has something does take us back. Okay. Okay. Sure. So I have been in product development full were over two decades and primarily worked in a corporate environment. But I always had a desire in a bug to be an entrepreneur. I subscribed entrepreneur magazine in this kind of before all of this availability on the internet. The I just had a desire. I looked into all kinds of things franchising. What can I do starting my own business all sorts of things and also in my corporate world in the software industry software development industry. I was able to kind of hick opportunities that led me to be kind of this intrepid Moore, meaning I would be on new teams new projects new products, so I- within the corporate environment. I could do a lot of innovation a lot of building my own teams a lot of the same things. That on entrepreneur do and then I can fell into real estate investing in about ten years ago and throughout the past ten years have kind of develop that made that into my business. So I still do work in the corporate environment. But I also am very very focused and passionate about real estate investing on that. So you are you have a corporate job in software by day in your superhero by night is that correct? Hair? Let's talk about time management, really quick. Because that's the first thing that I kind of think about is how you're able to kind of juggle both of those things, and I know that there are other things in your life their hobbies, and maybe family that surround us. Well, how are you kind of able to I guess put everything in having everything in still feel like you're you're definitely contributing participate in everything that you that you look to do. Yeah. So the key. I think to time which is all about priority. So what are I'm really really disciplined about prioritizing every aspect of my life. So they're saying is in my corporate job that I prioritize where I only focus on those big kind of big wins. And I take the same approach in my business. What are every morning? I decide what are the three things today that I'm gonna do that's gonna move my business for which that way, I don't get hung up on a lot of henna shiny objects for. Example, social media. If you're doing a Facebook page are face the host, it's easy to kinda get away. Weren't this purple? I want this green and get caught up in the doing of it where I try to be very focused on doing the things they're gonna push me forward in ultimately make my business muddy starting out so in I mean, you just have a fulltime job in the very beginning. You were not a real estate investor, and you thought about you approach in your research, so many different ideas. What kind of got you to say, hey, this real estate seems like the best option out of all these things. I've been researching I'm gonna go down this path. And then what what did you initially do in the real estate space? So it didn't it didn't quite work out that way as far as intentional gonna jump into real estate as a business. What happened was my grandmother was a real estate investor. She had several duplexes in a college town, and I had kind of watched her manage. Properties. And somehow I didn't realize that then, but I was like the seed was growing about how real estate investing can kind of change your life, basically in then she passed away and left a little bit of proceeds to everyone in the family firm, her real estate investment business in I felt really convicted that I needed to invest in real estate with that with that kind of inheritance. And so yeah, I had no business doing this. I really didn't know about real estate investing. I was newly divorced. I was single mom with small children like I should have probably that many other things that I felt really strongly that I needed to do that in this was in two thousand eight with the market was like lancing. I really did not talk about not over thinking it. I didn't really think about it. And at that point, I had kind of randomly met up with a wholesaler and. Found out about an opportunity with a rental property. There was a tenant in place, and it's like purchase that rental property. And then about six months later took out the initial downpayment investment and put that towards two other rental properties. So about you know in a blink of an eye. I was now a Lambert which is basically another job. So I was I was taking on in learning all of these screening tendons in all of those things in at the time. There were at least I didn't know about all of the great resources that are out there. So I was just kind of trial air. That's how I how jumped into real estate investing. Let's maybe talk about one of those earlier earlier earlier failures that you might be went through through as you were kind of just unveiling through this process in you. It sounds like you've you even come to some some conclusions even being the landlord that some things that you didn't particularly like about what you're doing. You mentioned that it's another. The job. And I want to talk about some of the earlier failures that you had at maybe had you thinking that. Okay. Well, this is good. But there's something better coming along talk about that. Really? So like, I had mentioned I wasn't well educated on the topic indefinitely did summit back, then some of the end probably still now some of the key things are being neighborhood that you're familiar with me in a neighborhood that, you know, you're comfortable screening tenants in going to and several of my properties were in what you consider like de markets. So with that you can get a lot of cash flow. But you also have tenants that may be turnover more quickly. You have, you know, maybe harder maintenance issues in what I have subsequently learned which you know, people tell you all the time is that a lot of times in those markets that can just be a lot of heavy lifting on the rambler side. And I never I didn't know about property managers, but I just really couldn't hack. The idea of getting ten percent. To someone else. So I I struggled for eight years. Managing those three properties on my own a lot of addictions, a lot of which are very in my state, the laws are very much to our tenants. So there's a lot of tricky things that can happen in vixen. But a lot of screaming walkers through one of those one of those victims in maybe resist to highlight that far listeners. Unfortunately, I've been to several, but in a in a state that is not landlord friendly like Colorado, you the tenant if they know anything about the laws or the system they can actually stay in your property for an extended period of time like up to a year if not longer in the process is very very dictated. You have to go to this process of giving them a three day notice that you have to post on their door. You have to prove that you gave it in the time that you gave it and then in then they don't move out. You have to start the court Christie dings, which means you have to get a hearing you have to go to a judge. And before before you can even get the tenant out. You have to do all of those things to then be able to get a share us to go with you to the property to get the tenant out and you have to. Very cautious. She can't touch any of their belongings. You can't put their even if they haven't paid rent in like six months, you can't put their belongings anywhere. You can't you can't even if they have left you have to do all of this due diligence or could be open to being sid. So it's very very tricky. Which is why amongst other things it's so important to have, you know, qualify in screen, your tenants because that process is as you can imagine very adversarial in you don't wanna be in the business of kicking people out of their home. It's just really rough to kinda go sooner for sure in. I think of the fact that there's a vast difference between a tenant, friendly states and landlord friendly states in. I lived in Texas. I live in a landlord friendly state in you know, you talk about the process that you go through them. We don't have to go through. I mean, even a tenth of that. And I want to talk about maybe emotional roller coaster that. That may be had on you the ecological effect that had on her early. Release investor in how you are able to kinda push through was an effort on your own. Did you have accountability partner was was there a system? Was there a group was there somebody around the like, hey, like seventy this is okay. Like what happens in, you know, you go through this. And you're going to have days, you're gonna have average can have good sense. You're gonna have bats now. I had no I had no one that. I knew that was doing this. I I didn't know anything. And it was it was traumatic people are not happy when you're kicking them out. And so it it's extremely adversarial. It even could be scary at times, and I just pushed through it. And. Yeah, after eviction, you know, you're like I'm done with this. I'm done. But at the time the market was good when I bought that like the whole idea was to buy low, right and kind of ride it out. So I was in a sense. I had to. I had to push through. And I just learned things I learned how important screening tenants was. And I still even learning so many things I still made decisions that I, you know, hindsight wouldn't have made an just learn things and kind of the key was definitely pushing through and not quitting in in the victims really bad when they were happening. But overall the overall in the life of a year of managing property. You know, there's ten percent that is horrible than the ninety percent is easing. You're just collecting chats. So if you can make it through the ten percents is not just a vixen, sometimes tenants leave in destroy your place. And when at first happens to you like emotionally like, oh my gosh. They ruined it. And you emotionally really devastated in quickly learned that you know, everything can be fixed. Literally everything down to the studs. And really not year thinking, it's the end of the world. This is going to thousands of dollars. It's it really isn't ever that bad. So the thing I learned from that is there's I mean, they can earn your house down in you can figure something out in emotionally. I don't even yet. He just stopped going through the ups and downs. Like, okay. By you, go in there. And you're like, oh, wow. This is interesting in you, just do what you gotta do. I would say those were big learnings from those early days eleven end. So let me ask you this through all the bad tenants through all the squatters through all the fictions through all of the people just trashing the placement last Stephanie is it worth it. It is a thousand times worse it mostly because you may as you can control those things to some extent, you can qualify. Candidates one of the most important things. I learned is that this is your business. It's your business so treat it like a business. I didn't do that. For a lot of years. I, you know, we get calls mice ads story. I'm in the hospital in I will go. Okay. And that would go on and then it would lead to this. This is a business. Just you don't have to be mean, you just say a role. That's a bummer your lease says, you need to pay this shoot. We're gonna have to start charging you like you're a business, and you have to treat it as such. And when you look at it that way, it kinda changes your reference in. You're you're no longer emotionally attached. And you can do what you need to do to manage your business and manage it. Well, it's kind of just how you look at it in your mindset of treating it like this instead of you're not there to help people. You can be nice. You can be gracious. But this is actually a thriving business that you just you make an agreement. Make an agreement. Gotta treat it like that got it got so Stephanie kinda put a bookmark your because we're gonna come right back to this. But I want to walk to present. I wanna talk about what what until Tyler your business. Like what of and I know that you mentioned earlier that you know, landlord even is a job, and I don't think you landlord anymore. So maybe kinda talk about what your business today in how you forget rest your this through this journey memo ordinary where you are now. Well, the one of the great upsides of these initial three properties and a landlord ING them in learning that that's not passive income. Right. It truly is. I'm getting all the benefits of real estate is far as you've got tenants paying your mortgage, pay me expenses. So you've got I had cash flow coming in. I had all the great tax benefits that that real estate afford you and a great a large amount of appreciation from two thousand eight eight years later, they Mark. It goes up in then I'm sitting on a nice nice bit of capital. And what happened was after eight years of land learning. I was I was landlord fatigue, and what a lot of people will good strategy to buying real estate is finding teed landlords. His you can get a deal. Right. And so I had done when comes to me and ask, you know, ask if I was in the market of selling those two properties that were so challenging for me. And because I was so fatigue. I had realized wow, they have significant creation. I could get out of this business instead of thinking I should have hired a property manager. I could have done a lot of different things. But what I ended up doing was taking the appreciation from those three properties in ten thirty winning them into other other properties that were different too, man. Edge. So I I tend thirty one exchanged into a VR -bio in a ski resort here. In colorado. I exchanged into a a suburban house that was closer easier for me to manage. And so I tend thirty one those and still still manage them and was able to do that more easily, and then those also appreciated, and so then would I have been doing is the Colorado market is obviously it has skyrocketed in appreciation. But what the downside to that? Is that that's it's very volatile. It goes up it goes down. And I don't wanna be caught on the downside of that. And so what I've been doing recently is redeploying capital in Colorado to out of state markets. So that I'm in markets that are steadier day flow. And I'm not having the volatile ups and downs. Downs. The so that's kinda where I went with my single family homes, and then most recently got into multifamily real estate syndication. So those are kind of how I am progressing. I don't manage any of my properties anymore. I have obviously when you're out of state, the beauty is you can't manage them really effectively. So I have property managers, and I manage the property managers at this rate, and let's kind of dive into that a little bit further before we kind of finish up with lifestyle. When you talk about the fact that you've gone through the motions of being a landlord, and you've your honesty experiencing some real estate on. I guess some real estate asset classes that don't require you to landlord, but even even with family asset class in you kind of buying properties in managing them. So what true opinion as far as when you should start looking to have a property manager. And if you should manage these properties yourselves, so my opinion. In this is the it my opinion is that you should when you're looking to purchase a rental, whether whatever it be that you should put into your numbers that you're using to evaluate your deal. You should put in property management. Ten percent. Even though you can obviously negotiate between seven and ten or whatnot. You should put those into your numbers. Because even if you decided to manage it yourself, you don't you could get sick. You could there could be a lot of things that happen that force you to hire a property manager. And you want that to be baked into your numbers? I personally personally feel that most of us are not good at property management. The likelihood is that we do other things. Well, we have jobs are we have other skill sets. And unless you're in the property management business. And it's your skill set. In your passion, I suggest hey, someone to do that is if I did the numbers of how much money. I spent managing myself, meaning wasted time energy at all kinds of things I would have yielded much better spending ten percent on a property manager at I think most people are probably fall into that category for sure I'll of and you know, just add to that. I think about the fact that when you do decide that you know, I want to be a real estate investor now, I need to decide if I want to be a landlord or if I want to be maybe a passive landlord at have a property manager. I think that yes, you should always, you know, factor in the fact that you want to have that margin already. Just in case you do want to eventually have a half a property manager. But I think for every individual it comes down to I guess in speaking subject matter of this podcast, but it comes down to their lifestyle. What type of lifestyle they want to have what type of ice other looking to have. And I think that there's a mix between. Hey, I want to be a landlord for experience in once. I had experience. No what I'm doing that. I know how to select the great property manager. I can move on. And now I can focus on what I really wanna folks some of my lifestyle. How do I put people in place? So that I can see the lifestyle that I want. No, that's a I guess that's less pen to paper, you know, way of doing things. But I also want people to come and keep that in mind as they make decisions I love that. Yeah. I agree hundred percent you really have to it. You do have. It is helpful to have done something before you hire someone to do that thing. So it is helpful to have that knowledge before you're hiring hiring the the property managers key to your business. So I would agree a hundred percent that is very helpful. I want you to think about maybe your your best. Or maybe you're most worthwhile investment you've ever made. It has nothing to do with real estate. This can be an investment of money. This can be investment of time or investment of energy. What's been one of your greatest worthwhile? Investments you've made yourself in myself. So I am an avid learner in personal. Development in growing. And so I set aside a kind of time and money every year towards my own personal development. And that's really hard for all of us to do. Right. We have we have a lot of things pulling at us our businesses. Our families are hobbies all of these things, and it's really easy to put your own growth and development in education had at the bottom of that list. But I have found that the more that I put those things as a priority in actually allocate time in money towards them that they you know, it yields ten times the difference. In a good example is coaching ching. Is so helpful in so invaluable, and it is an expense. Right. You can find meant tours and coaches as your friends, our colleagues that it you also can pay for those that help and that direction. And I believe that that kind of investing in yourself pays huge dividends lifestyle design, acceleration hacks. What is your favorite before the millions look still? I'm really liking right now Hal Elrod the miracle morning. If you haven't read it or maybe even reading it again, I instituted this. Maybe a year ago his miracle morning. Kenneth get up early have this routine, and huge it has impacted me in such a great way. So I highly recommend in love that book as would recommend anyone to read. It smokes. Nice this listeners that is one of the books. I think that you guys should read I at least once a year. So I love what is your favorite my style design at this can be a business app or tool hill. I have an app it's called way of life app. And it is a it's it's very simple. But it's around this idea of. Habits, and you basically pick either habits that you want to do every day or habits that you want to stop. And it kind of creates a game within yourself 'cause you get it get remind you to check it off. It reminds you to do them, and I have found it kind of mentally helpful. I whatever your brain. Does it like she to not interrupt your behavior when you're making check marks every day, though, I have found this that app to kind of be a fun way to play game with yourself and keep yourself accountable to certain habits these these habits accountability apps. I think that they're really taken off these after find when I may even check out the one that you just recommended. So that will definitely be in the show notes for the listeners to begins to check that out wouldn't you enjoy most about the way your lifestyle is currently designed so one of the things I'm really excited about with my lifestyle is I have two two kids. One is about to turn eighteen when is about ten or twenty and my twenty year old. Has grown by both. My kids have grown up as I've landlord and done all of this real estate business. It might twenty year old has developed a passion for real estate. And so we are he's in college right now, we're kind of devising a plan about how we take what's currently my real estate business to the next level where he can kinda carve out a business for him around relate to can he sees Nevada you in the wealth creation possibilities. And so I just love the idea of this family business lifestyle idea where were you know, all talking about this thing real estate that we're passionate about and AM making our dreams come true. So that that's that. That's one of the things I'm really excited about what were the sacrifices that you knew you had to make before the millions to get to where you are today. I think one of the sacrifices. You kinda alluded to earlier is around time. Energy, right? We all have twenty four hours a day. We all had limited energy. So whatever we're doing whether we're hundred percent focus on her business or were, you know, balancing that with a fulltime other job, or however were carving out this this lifestyle that we want we need to identify time and energy, and sometimes depending on where what stage you're on. You just have to give it a lot. You have to give it a lot of your time in a lot of your energy to start into make headway and those can be sacrifices to you know, maybe doing something with friends there's kind of a season where you have to work, really hard and get things started. And I think those are sacrifices that you need a balance in kind of trade offs that we all made to make who was essential to your growth before the millions. And why you know, I always. As had this strong desire to learn and grow like just kind of I don't know if it's DNA or whatnot. But like, I mentioned earlier, my grandma was a was a large influence on me as far as managing all of the things she did in, you know, a strong female source kind of making things happen. And seeing that I think helped me give me confidence and realize that I could do those things also. So I think she was she was definitely a big force last one. 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. I think fear right fear. Fears a tough one for all of us. And even when you think your fear lists. We knew are doing something new and different you fear comes into play. You can't even control of rain takes over. Our brain wants to protect us from things that it thinks is going to hurt us, and it thinks new things are threat. And so our fear comes into play. And I have that. But and I'm sure most people doing the thing I have found that helps me the most with conquering fear is taking action taking it doesn't even have to be huge action. You take you have a plan to do these two things to take action on this thing that I have here about and somehow that momentum inside of you helps you overcome the fear and helps you get unstuck. So much stuff news has been so much value. I love everything that we talked about. I mean, I have to find some type of a subject line on this on this interview. But I feel like it's going to rooms of you know, just that -tendance in knowing how to overcome that knowing that. I mean, it's going to it's all to be well like we jump into real estate and a lot of people don't jump in because some of these fears, but we've talked through your story. We've seen you come out on your end in the experiences that you've had and how you manage things now because of like, you don't like because a few experience, but that all started because you've got started Stephanie and a lot of people have resonated with that, I know they're going to get a lot of values comes out. So anybody wants to kind of reach out to you. Learn a little bit more about you on some of the things we have going on. Where can I find some of your information on my website? It is new heights investment group dot com, and I can be directly at Stephanie at new heights investment. Boom there you have. It lays gentlemen, if need. Thank you so much for coming on show. And we will talk to you very very soon. Thanks for tuning into today show. If you like what you've heard, and you're interested in seeing if you're a good fit work with the before the millions team. Here's what I want you to do next head over to before the millions dot com for slash call. That's before the millions dot com slash call and book an appointment to speak with our team. We'll get on the phone with you for about forty five minutes, and we'll get you. Crystal clear on three things number one. What is your cash flow goal? How much are you looking to make every month? Number two, your personalized investing strategy and number three the best way to get started using cash flowing rental real estate, remember starting in scaling, your real estate investments and business doesn't happen by itself. You need expert guidance to make it happen. We've helped clients all over the world start in scale. They're investing efforts to six figures and beyond while enjoying life and making the world of better place to find out if we can help you do the same head over to before the millions dot com for slash call. I'm Dora Elia, and let's talk soon.

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BTM 89: $8 Per Hour to Multi-Millionaire in 4 Years with Daniel Ameduri

Before the Millions

59:35 min | 1 year ago

BTM 89: $8 Per Hour to Multi-Millionaire in 4 Years with Daniel Ameduri

"This is darriel Aaliyah. And you're listening to the before the millions podcast episode eighty nine how one individual goals for making eight dollars an hour to multi millionaire and just a few short years. Are you ready to be the master architect of your life? Are you ready to design your business and invest the needs that create the lifestyle you've always dreamt up? 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 am an investor and you're listening to the the core. The millions podcast pay their money Heather haven would marketing coach and global entrepreneur. And you are listening to the before the millions podcast. Hey, this is Marcus quick. The host of the seven minute mental podcast global entrepeneurship all around. Geek. And you listen to the befall the millions podcasts. I am MC Laubscher the cash loon injure, and you're listening to before the millions. Bought cost. You're listening to the before the millions podcast, a whether you're looking to invest where cash flow or building online business that allows you to be location, independent you've come to the right place. Mr. Hollywood himself presents the be four the millions podcast. And now you're rose to Ray. What's going on BTM tribe? We're back for another installment. And guys I'm excited for another brand new weaken this brand new year. And there's so much. I wanted to discuss with you guys so much going on. And I feel like I can just go for an hour on this intro, but I try to make a short so I've been hosting this challenge. And in this challenge is called the BTM five K challenged by the way, it's how to make five came in the next thirty days. But in this challenge, there's a task where a have the challengers, find a power agent. So I'm participating in the challenge. And I'm actually doing the talent alongside with all the challenges. You guys can check this out over at before the millions dot com slash five K. So let me just fast forward to why I'm telling you the story one of the agents that I'm working with sent over a few properties for me to look at. And when she sent over these properties, she had her notes on the side and told me I kinda why she thinks I would be interested in. These properties and a lot of her notes were more. So estimates of what these properties would be worth after a rehab now. Now, these estimates are largely based on how this agent and how the agents in. This person's office are viewing the market, and what could possibly happen in the market within the next year or two and five years and ten years, and they're seeing how much development is going on. And how much prices are shooting up in this particular market. So her numbers are reflecting this. So she's telling me that these are good deals. These are going to be outrageously profitable deals for you. If you go ahead and lock these properties in now, I'm not saying that she's right or wrong. As far as these being good deals, but her premise is early similar to the premise that lots of realtors and investors had just about twelve years ago. So for those of us who are investors, and we just started investing in this decade. We can't really speak on what? To do in a downturn. What's doing a recession? Like, I mean, we can I'm sure I will every once in a while. But don't take my opinion as factor anywhere coast effect. I have no idea. Right. But I have successfully interviewed over one hundred entrepreneurs and millionaires from all over the world who invest in real estate most of which had been investing since before the crash, including today's guests mister Daniel McSherry. Now, this is some of what we discussed on today's podcast episode. But I hear the pinions of these individuals over and over again, and what happened during the crash, and what they would do different in and only they can take things back and so on and so forth. And then I hear the stories of individuals who had fun during the crash bought up everything or in a crash poor making major prophets and so on and so forth. And I study the markets, and I studied the trends, and I understand that everything is done based off emotion and one of my favorite movies is the big short. If you haven't heard of that movie kind of just depicts. What I'm talking about? Now like the point up until the eight crash and then slightly after the crash. So if you're interested in how and why the real estate bubble happened? Go ahead and check out that movie, and you have a whole lot of clarity as to what was going on during that time for those of you who are not going to go back and watch the movie, let me give you just one of the major reasons why we had the two thousand eight crash going back to this rotor who sent me a list of deals that could possibly be super profitable back in five or six or seven rows state prices were going up at a enormous, right? They were going up so fast and some pockets of the market to where an agent or an investor would know that if they bought a property this month for one hundred thousand dollars in just a few short months, they'd be able to sell that property on the open market for one hundred and forty thousand dollars and a lot of people will do exactly that investors, quote, unquote, which I mean, we would call them speculators. At this point, what investors would buy property. At market value. Sofa properties worth a hundred thousand dollars would buy four hundred thousand dollars with the intent of selling it a few weeks or a few months later for profit because they know that the market is going up at drastic writes, these people are not investors. These people are speculators. These people are playing a guessing game with the market. Now, you may say, no, they're not. I mean, they're looking at the market market trends are up in you know, they know that if they buy now the in the few months what's going to happen. Actual investors. Don't take that much risk. Warren Buffett's number one rule is what don't lose any money ever remember to refer to rule number one. These people however believed that they could predict the market. This is when anybody in everybody were investors. These people kept doing that and profiting and making a killing until one day. There was no more, and it all came crashing down and many of these people they had these properties that had bought at market value. Not at a discount. They bought it market value. And get this some of them would overpay with the confidence that they're investing in ever expanding market, and they're gonna make their money back plus more plus extra in no time. So they would literally overpay overbid for properties and think that they're being investors. They're being savvy investors and when the market took a hit by thirty forty fifty percent behead, these these properties in their inventory, and there was nothing that they could do about. So although we may renew our investors who haven't experienced the the seven eight crash have the expertise of those that would stood the crash, and we can learn from their mistakes, we can learn from their successes in this thirty eight challenge that I'm running I show you exactly how to avoid this pitfall based off all the knowledge in resources that I've gathered straight exactly how to avoid this pitfall, and how to make sure that you are an investor and not speculator in fact in the tip of the week. I'm going to share with you, exactly. What you need to do. And it's going to be so simple. You're going to be like, oh, I'm going to share with you exactly what you need to do. But to almost guarantee that if in when you are faced with a recession as an investor that you're on solid footing. Right after that guys. We are going to I'm actually cover a real life case study covered Daniel story in what he did during the crash in how he messed up and how he got himself out of that situation. And it's gonna be fascinating guys. Wanna talk about how now Daniel travels five star everywhere he goes and how he spends fifty K a year on wine, just wind alone. When talking about the difference between retirement financial independence in how we must sift. Our mindset from retirement point of view, toy financial independence point of view as quickly as possible. Renna talk about the difference between Robert kiyosaki and his methods. The Dave Ramsey and his methods, and maybe there's some alignment there. And maybe there's some truth to both sides that we need to be able to use our own lives. We're gonna talk about why actually may be better to pay off your primary home. Interesting. So before all of this before we talked to Daniel, let's go ahead and get to the tip of the week to raise stoop of the week. If you listen to any real estate related podcast for any good amount of time. You will eventually hear the phrase I make money on the buy or if you buy right urine investor. What do these people mean when they say, I make money when I buy real estate like that like did that when you first heard that that that sound a little weird to you? I mean, I know it sounded weird to me. Like, I was just like you make the money when you buy, but as became an investor, and I started learning what people were doing in the industry that were. So so wrong. I started learning what people were doing in the industry that were right? I was just like, well, I think a lot of people don't understand that statement because as simple as it is so profound and if more and more people live by that mantra in two thousand and six seven and eight they wouldn't have maybe lost every. Thing. Maybe they would have been able to salvage a lot of what they lost. Maybe they would have been like some of the other investors actually made some money. So what does it mean to make money on the body? So let me start with saying this speculators similar to the situation. I gave you guys about the realtor that I was working with similar to the situation that I gave you guys about the rotor who is giving me a RV's or market values that she's predicting based on where the market is going not based on where the market is today to let me I don't wanna confuse the guy. So let me make it a simple as possible for for those of you that are little bit greener. An investor a true investor will buy a property at a discount meaning that based on today's market conditions. Today's market value. Today's property worth I will have purchased this property at a good deal at a discount at a good value. As opposed to how much actually worth or would it be surprise to you to hear that? Most investors don't do that. Because especially now more than ever appreciation soul because especially now more than ever appreciation the so prominent we've been on upward trajectory for over ten years. So often what you see people that title, so often what you see people that have the title investor what they're doing is. They're buying property. So let's say they're buying the hundred thousand dollar property that's worth a hundred thousand dollars. They're buying that property for one hundred thousand dollars, and they can call themselves gurus, and they can call themselves investors, and all this other stuff, and they can have the data, and they have the data to back it up saying that the market is going to go up, and they could actually even make a killing. But this does not make them investors. 'cause makes them consumers who are gamblers were literally playing the lottery and investor who buys right. An investor who makes money on the by has the mindset that no matter what happens in the market. I have made money. Why can they say that? Because if you make money on the bison investor so you buy that one hundred thousand dollar property, but you don't accept to buy that property unless you can get that property at seventy thousand dollars at a thirty percent discount. So that means today tomorrow, if you sell that property, do can make thirty thousand dollars instantly. That's how much baked in equity you already have. So therefore, you're not banking on this future appreciation. That's not what you're setting your laurels on. You've done your homework you've done your research, and you know, that the purchase price that you've paid for this property today is already a good deal. You've already won no matter. What happens in the future? And if you do get that market upturn that's just icing on the cake. And if there's a downturn while you've already baked in and if there's a downturn will you've already baked in some of that volatility. So you're not in a risky position. Whereas that speculators in a very very risky position. And that's what happened in the crash. A lot of people. Over leveraged. Because if you're in a downturn in the worth of your property goes down by thirty forty fifty percent and the loan on your property exceeds the worth of that property first off you can't sell it. Or you can't sell it. But you have to sell the maitre discount to actual investors who are going to be happy to take that property from you. But what those actual investors are doing their properties. Because they already bought it at a discount is they're just waiting out the storm. They don't care that that their their property value. Just dropped thirty forty fifty percent, especially because they bought at a discount and therefore their leveraged their terms. Their rates also reflect that so if you're paying thousand dollars in a mortgage, and they're paying seven hundred dollars in the mortgage and rents in that area have dropped to thousand dollars. The investments is cool still making money and they can withstand the storm. So if their property drops in value from two thousand seven to two thousand nine from one hundred thousand dollars to seventy thousand dollars, they're not really just worry. Like all my goodness have to sell because I haven't because I haven't because I have one hundred thousand dollar loan on this property. They're like, oh interesting. I'm making money on this property every single day from the tenants. Who pay me a thousand dollars a month? And I only have to pay seven hundred dollars a month in mortgage than after than after two thousand nine with things start going back up two thousand ten eleven twelve thirteen fourteen fifteen rental going up. So they're getting paid what thirteen fourteen fifteen hundred dollars, and they're only paying seven hundred dollars in a mortgage now appreciation is going up and that property that went down to seventy grand is backup to what it was at one hundred grand, and then two thousand and twelve and thirteen and fourteen start hitting now that property is going to win twenty five when fifty one seventy five two hundred that's because this investor made Lenny when they purchased this investor made money on the by so go forward by right, finance, right? And then manage right? I got that from Jake and got I got that last little person. I got that last little portion from Jake, and Gino now, this is exactly what I am teaching my challengers in the BTM five K challenge to do as they make offers because we're making offers guys. And if you guys are in twenty nineteen year deciding that this is your your. Invest in Willis saying get started. And you're doing this on your own first off good. Let's you second off. I wanna make sure that you're putting your best foot forward, and you're making offers because my challengers, that's what they're doing. That's the number one indicator using right now to understand whether or not they're making progress, and that's what you should be used as well. If you wanna participate in this challenge, and you want me to help you along your way as you start this journey and possibly five Kanye pocket of the next thirty days. This is a free talent. And I'm assistant you all along the way go ahead and head over to before the millions dot com slash five. K? Let's get started on this challenge. Let's put five ten fifteen your pocket in the next thirty sixty or ninety days by buying right by making money on the buy in being true, investors and not speculators. Now, let's get to the show. And now your feature presentation. First and foremost, lemme introduce you guys to our guest, Daniel Meduri Daniel. How's it going today? It's going great. Thanks for having me on the shell. Yeah. I'm definitely super excited. I'm excited to get into your story. Let's take it back for the listeners. Daniela? I wanna talk about the inception. How all of this came to being we can start from anywhere. You want just like his back to your younger earlier formative years in what you were up to kind of what kinda turned your mind to to like this creating this lifestyle that you now have so I don't know why I had a fascination with money or entrepreneurs ship because there was no entrepreneurship in my family in there wasn't money really wasn't discussed but ever since I was a little boy, I was always fascinated interested in it and never the materials never wanted a yacht or make a mansion or anything like that never was a car guy. Don't even know anything about you know, what I drive or anything outside the takes eighty seven. I just always had a fascination with it in a have stories where my mom, you know. I'd get in trouble at school because I was selling pencils or something. Or if somebody gave us something like my uncle worked for Nabisco. Brought us a bunch of cookies I threw them all in a red wagon went down the street and started going door to door and selling cookies and inevitably I came across a book written by Robert kiyosaki at thirteen years old. It was called want to be rich in happy don't go to school. And of course, a thirteen year old boy seem anything about being rich and not going to school. It was like, wow. This is the book for me. So I read that book and Robert kiyosaki who ultimately would go on to right rich, dad, poor data to become the best personal finance author ever. He had a huge influence on my life in his books. I've actually never spoken to I will be speaking for my first time in November. But to this day, I never met him, but huge influence on my life and really helped shape. The skepticism my head towards conventional thinking into alternative, right? So it's not enough to just reject what everybody else is gonna do. Just go get a job try to retire in forty years and all this stuff because as a boy, I'm like, we'll okay, I don't want to do that. But where do you go? And then he'll sake was teaching about why don't you become financially independent try to things that make you money multiple things that make you money, and you know, by assets the cash flowing. I was just obsessed with the stuff from thirteen to eighteen all throughout high school getting dis. You know, literally happening to go to night school to to to redo an English class barely graduated high school at because I was spending four to five hours at Barnes and noble, sometimes I'd show to school like eleven o'clock in the morning because I had swung by Barnes and nobles. I just could put a personal finance by Tony Robbins. So just always fascinated with this stuff in in alternately leads to me by my first rental property at eighteen and I don't know you'll meet a go on. But so that's I bought my first rental property teen years old by my first business, actually sixteen. I've just always been fascinated with this with making money on the. I think about your progression. And I started way later than you. And I think about some of the listeners who are even starting way later than now. And there was always this angst that there's something else out there. There's another world out there. I don't know where I saw this. I don't know what it is. But I know that there's there's something else out there and people who live in a different type of lies, and I always knew that somehow, someway, even like the people around me like somehow, someway, I was going to be what I call it a success what I envisioned myself as success, whatever that means to me, right? And once I graduated from college, and I kind of went down the track that was socially deemed to be successful. I wasn't happy. I didn't feel successful. And I looked at my Bank account. And I was just like man, this is not going to work out this trajectory, like even in my industry like we were getting raises like far beyond industry. Norm. Like, I mean, typical raises are forty six percent a year whereas for a before account that you're you're looking. At nine that thirteen percent a year. So I was using those projections and even on the high end of thirteen or fifteen percent. I was just like there is no way to ever become wealthy. And it hit me like a ton of bricks again going going back to your story seems like at thirteen you started having some of these thoughts who started having some of these some of these some some of the angst. And you're just like man like, I don't I don't wanna go down this path. This is not for me that me figure something else. I'll get in with no role models in your life as far as being entrepreneurial. And you you start at sixteen. What gave you the confidence to think that this? I mean, I mean, I see I know that you're reading these books, but the fact that there's not a single person in your your direct vicinity to kind of be like, hey, Daniel, this is how you're supposed to do or. Yes, you can do this like what gave you that initial driver? First step to just like, let me go ahead and go through with this. Let me start this. You know, it's definitely a strong support from my father. My parents were divorced to supporting parents. But I was. With my dad, and though he wasn't into entrepreneurship or anything. He just he was he was huge on supporting whatever we wanted to do. I'll give you a great example when I was twelve I wanted to be a SeaWorld trainer. So he took it to the next level. Like then Matt year we we drove to Vancouver Canada. Twenty two hour drive men a Buick regal just him. And I and we went and saw orcas in the wild in British Columbia might dad was just all about going all in and even that was even when we were into stuff. So when I was sixteen years old, and I had the opportunity by twenty five percent of a business. I told him, and it was just like, y'all. Let's let's do it. And so he helped me it was actually had to be in his name because I was Viner. So my dad had a lot to do with just being able to support me when I didn't want to go to college. Luckily, I didn't have to face a parental fight. Which a lot of people would have to do because there's certainly pressure to go to college amongst people. And my dad was like, okay. Oh will. What are you going to do? It was like just a might. Well, I'm going to buy houses. And so he was all in on on. You know, what can I do? You know, he was over there. You know, help me clean that clean my first frontal property over there. You know at eleven o'clock at night may be painted to get ready for a rental unit thing about stuff, but he was just there to support me. And I would say what me over the edge to definitely go. This route was when I was sixteen years old. I find a bra home at class, which was basically like cooking and sewing, the twenty eight girls, and I was one of only two boys. So this was an easy one. For me. Even though I wasn't a mastered. Math. I got those numbers. And I'll never forget the counselor coming into teaches about a beginning doll all post high school, and she had this chart, and it was in the mid nineties. So the data was probably from the late eighties early nineties, and she was like high school graduates make twenty five thousand dollars a year on average and college graduates make thirty five thousand dollars a year average, and I'll never forget that day that was such a big day for me because. I that was the day. I was like no way am I going to college no way and that and you've seen about a millennial in the late nineties in high school Banda pressure to go to college on all of us was EMAS huge. Like, it was real. It was fully it was like leading the church of you didn't go to college, man. And I I'll never forget that. I saw that chart, and she was trying to make a selling point look how you can make all this extra money in compounds over thirty years on first of all getting Richard thirty years sounds crazy idea that's way too long. And Secondly was a mega make that much more. If I go to college, I'm like, so I might as well just give started and now Br my wife and her parents, it was more like religion to go to college. So I actually lied and said I was going to college for about a year. I told my wife that was at my my high school sweetheart at that time, my girlfriend who's now my wife, I actually told her that I was I was going to call. I would leave the house, and, you know, go over to the west Covina Barnes and noble, and I'd sit there. There for five six hours that I'd come back and everybody would ask me how school was. And of course, I have no idea. What? Eventually, I dot caught in my head to SaaS up to look I haven't been going to college this whole time. What were you actually doing it that Barnes novas because I'm just imagining you like actually building your business. But what were you doing those learning? I just thoroughly enjoyed reading every real estate book. I could I was reading all the personal finance and develop. I literally go back and forth between personal fight personal help growth books. Like Tony Robbins, and then back jumped over to the personal finance section and actually never stopped doing that. Always enjoyed it. When I would go to like any conference that was free of Carleton sheets or something was in town of jump over those roles state conferences, and I try to go on this was before Craigslist really so really in the newspaper ads look for real estate deals had looked talking to realtors or that type of thing. But it actually reminds me of something I don't think I've ever shared. But I remember when we when we cleared financial independence of this fast Ford's like twenty twelve twenty thirteen on their forget going into Barnes and nobles almost being somewhat depressed. For like a few months because these books were no longer applicable like I could read a Dave Ramsey book or a Robert kiyosaki. But I was like I did it. I had done it. And and there was some was in a weird way. I know this probably jumps to the last part of our interview. But in a weird way, I'll never forget that for months. I just lost the drive to go to Barnes and nobles into the I haven't been there probably two years now. Oh, wow. Definitely interesting even the progression of that. Like, let's continue are really quick because I think it's important to kind of look at the unfolding of your investment journey entrepreneurial journey in you started with one rental one single family rental. It sounds like now the fact that you, and I think you gotta head start. 'cause you kinda cheated in the sense that you didn't go to college. So you have whatever that tuition is ten twenty thirty forty K you save that. So you're already headed the curve, and you actually still got a whole lot of learning than in that same spent that same timespan so let let's you went to college. But it was caused that you create now that you have this information. Have this learning you how your you have your first rental? Let's kind of going through your head. What's next for you? What do I mean? What's the goal? Are you trying to build up a rentals? Are you trying to start a business? Like, what do you think in at the time? So I'm trying to do it rich at port Ed said you could do in the book, and I'm trying to build up passive income to pay for my lifestyle. And I knew ahead to do with rental property, and I in up buying my second property nineteen with creative financing. Trump's and stuff that I learned that the Carleton sheets a program, and then it just never stop it kept buying which was very successful right slowly graduate, go ninety nine two thousand I'm buying houses. And the real estate bubble is not even started yet some buying it literally the bottom of the real estate market. And of course, by two thousand four two thousand five thinking, I'm really smart because every night ever touched so far has made. Money. And this is I am learning. A lot of learning about being a landlord of dealing with different things out of you fiction Siam learning. But unfortunately, I'm learning in Arkansas that has gone it's like being a crypto trader in two thousand seventeen right like everybody is like quitting their jobs because they're fulltime crypto trader when it went to two thousand twenty thousand quite so I'm in that same situation and on young. So there's there's a definite set up here for a fall and in two thousand seven I was knocking on doors for foreclosures and two thousand six and I noticed that it's getting thicker d- digger. I go to the title company every week the hand me a stack of all the notice of defaults in it's gone from being, you know, something I could fold up to put in my pocket like walking around with a small home book, though. I know there's something bad is going to happen. And I'm looking at all the loans, and I see America's in countrywide Lehman Brothers. And I'm like, wow, this is really bad. So I actually start telling everybody, I know. Two thousand seven to sell their real estate and sell their stocks because this time become a real student of economics. That was kind of where I kind of jumped from books from section of the bookstore today economic section and was also on the ground in California. I was like this is gonna all blow up so idea what any any rational twenty two year old three-year-old, whatever old I was. And I went and bought as many houses, I could because I was like I need to make as much money as I can in the next six months before this all blows up, and that's exactly what I did. I cashed out of all these beautiful gains. I had rolled all into bigger properties. I upgraded I went from the one hundred fifty thousand dollars to two hundred thousand dollars they market to buy a five hundred thousand alter a few of them and trying to sell them for a million. That was a I listed the most expensive property at every done. The most money I'd ever put in a property listed in a suburb of two thousand seven. Bear Stearns went under. And that was where it all came undone. Where I was literally chasing properties down having so many foreclosures to this day. I've never even made it temp to fix my credit since two thousand eight I only purchased seller finance deals because I just had to make a new way I never made it attempt to fix my credit to this damage to the credit scores probably five hundred. So, you know, I just completely imploded in two thousand eight because I thought confused a bubble for brains, and that is one of the most important lessons in the most impactful moments in my life because luckily I was able to rebuild but it took me a few years just to dust myself off. Now, I can imagine in kinda even throughout throughout those years. I mean, walk us through that time like what were you doing? What will we remind said had you given up or did you were you working on other other things I kind of? Walk us through your your mentality at that time, and even even your wife in your in your family, and what everybody else was thinking of going through. So since I was young. I always felt this destiny that I could be wealthy that I would be wealthy. Actually, I kind of felt that I knew that it was going to happen. It was all going to play out and for the first time in two thousand eight that was when I felt like it was not going to happen. And I really went into a depression and was just not sure what to do. My only thing on. My resume was real estate. I was in really bad shape. My wife was a schoolteacher. I was now this point make no money. So I went to like any of the everybody's got also go back in time to think of two thousand eight the big Konami is like shedding like seven hundred thousand jobs a month and going into early two thousand like everything like we're going into the greater pressure. And so my mindset is not only that I screwed up that I screwed up. And I'm I'm in a really bad situation. Luckily, supportive wife Jeanette. Gave up on me who's always encouraging never gave any grief for not. I sitting at home not making money, and I would still try to go out. But there was nothing. I could do it was destroyed. And so I actually after about six months of just kind of doing nothing. I went to truck driving school and got my class, a license never got a job as a truck driver. But that's where my mindset was. I went from entrepreneur success to what do I do that won't that can work through a depression or a severe recession? So I actually getting a job at a grocery store. Starting salary was eight bucks an hour in two thousand eight and that's where I was at went from having over a million dollars of assets to write in hundred sixty five thousand dollar checks to fix properties to saying. Yes, tune a dollar an hour job because I was like we're going to depression. What at least I can work by way up in the grocery chain. And that's where all do all have a safe job. Right. And I actually did that for two years. But also two thousand eight I started a hobby. My wife convince me to start at hobby about talking about the economy and personal finance on YouTube. And that's really how I ended up ultimately going the I went with business because Google took over YouTube, and they reached out to me made me one of their first you to partner, so they start paying all of a sudden making twenty five hundred month from them. And then another organization says, hey, can we put an advertisement before your videos will pay thousands Leach? I was like, okay. Wow. Now making four thousand a month from this other group salts and now you're making money from this hobby and all I'm doing his talking about money. Every Friday, I'm like, this is insane. And my wife's encouraging me to start a newsletter about personal finance, and I pushed it on for about six months. But now we've had our first kid in two thousand nine so now she's really pushing me like, hey, come on. I want to quit my job. Can you start a newsletter in I finally did in March twenty ten got together with my cousin, and we started future. Trans- dot com officially the revenue comes from advertisers. But that's how this whole thing. Started from a hobby and the encouragement of my wife, both because she believed in me and she also wanted to quick job. So, but it was a good lesson. Even we're going to the grocery store. It was really good lesson. Be. It was a really good time in my life because my wife, and I went through there of severe frugality stage where we went we would Nino paid off our home, but BA Friday buying a home. We actually we squatted in our friends foreclosure because he was going through foreclosures. I was like can I just live in now for nine months that I mean, we didn't a lot of crazy things to save money. We got rid of our dogs because they had medical bills. We got rid of TV for years Lee, sold her wedding ring to pay off our cars. I mean, it was a good time to to really be focused with the wife on on saving money on trying not to become wealthy. But just try not try not to be poor ever. And it was a good time in our. Life. It set us up for, you know, a healthy balance sheet going into a time where we would start making great money. That's awesome, those beautiful Daniel in. I think about the fact that you were able to start future Money Train, your company to this day from the from this downfall from this, quote, unquote, failure from this feedback that you got in its, you know, in our darkest times that, you know, our best work comes to light. So maybe talk about really quick, what's. So if you were to sum up your. As far as your company future money, transcend what you're out there, providing for, you know, the the the watchers viewers listeners. What is that thing? What is that? What are you? What message are you trying to get across are you trying to help people with their personal finances or you're trying to pick? Are you picking stocks, which I know you're not, you know, but what your message? Yes. Oh, my message is, you know, initially started I wanted to create something that was a hybrid of what Dave Ramsey teaches and keel sake. So Dave Ramsey is very focused on pay off your debt. You know, be very prudent. Make a lot of sacrifices early on. He'll he's more. Like, hey, let's brace debt, which I get, you know, but I just kind of wanted to make a hybrid psychology future money transfer dot com, and it was personal finance for the new Konami because let's face it. The economy is changing in the sense that it is going more freelance due to a lot of reasons between technology in earns of government just things change. And I I wanted to have a letter like, hey, look, we cannot be planning for. The nineteen eighties portfolio when clearly things have radically changed, and there's a lot of other opportunities and really wanted to help people get out of that retirement mindset and get into the financial independence might set up. So that's how it started. But now fast forward to today, it's still focused on that. But now it actually has a case study. Right. A might look I did it. I did it in five years you guys, and I did it through you know, two or three years of that was not making any real money, and it just through sacrifice in grit and and begging decisions like moving like moving far to save money. Whatever would we had to do. But you know, so I like to tell people that look I was nobody special and I was able to do it at about five years. So what I tell people is. I think five years to ten years is a real goal 'cause you can of you cut your Spence expenses enough. And it doesn't have to be forever guy. I travel five star everywhere. I go now. But there was a time where we didn't do that. And. We made huge sacrifices, but it was just a short term thing. But instead of a living the scripted light, which doesn't have you relaxing and living in luxury until you're in your sixties. I think you can go you can write your own script. And that's really what future money translate about today is about sharing with people what I've done in the past and what I've actually doing right now. Because of course, being just like you said earlier, there's a whole nother life out there for people when when you make some money or become financially independent. There are things that I learned that the rich do that. I'm able to quickly share on shared with my subscribers low the think about the fact that Robert kiyosaki, and Dave Ramsey's messages are polar opposite, and you'll often hear some of their underlings in some people in the industry talk about the fact that they're polar opposite in you. You hear you no one tells you never go in debt, not even for your mortgage. One is like, hey, good debt is the best thing on this planet, you need as much of that as possible, you know, in you have like these. Polar opposite messages in youth come along. And you know, I know that people who listen to podcasts who go to use things like that. It's either like you're on this one side or you're on the other side. You know, I've as of late started listening little bit to some day. Even see what he's about because I've always just pre judged that side of things. So when I think about the fact that those polar opposites and your messages to find a way to bridge the gap to show that there's a world in which both of these can exist in you can actually benefit from the benefits of both sides of thinking in not actually have to deal with the negative consequences that each side may bring so I wanna talk about the fact that you want to help people go from a retirement mindset to financial independence mindset. Let's worse highlight. What is retirement mindset in what what soul bad about that? Okay. So the retire mindset is that you take your money, and you allocate it out to Wall Street where they charge fees. Where you're typically speculating in a 4._0._1._K fund or you're focused on the tax deduction of an IRA or a 4._0._1._K. But no one's considering the downside. First of all, you give it to Wall Street. And from what I've learned is that Wall Street is is a transfer of wealth. Yes, you can make money over thirty or forty years, but the people who were making the real money on Wall Street are the people who work on Wall Street, and that's whether these were they're creating these products that is where the real money is at as far as taking these tax deductions. Look you make ton of money go for it. But really, you're speculating because if you look in a hundred year chart of the income tax, you're basically paying the lowest income tax since nineteen thirty one there's a small blip in eighties. But that you have to go back to the thirties. So you're voiding paying the lowest taxes in one hundred years betting. The taxes will be even a lower in twenty years or thirty years or fifteen years whenever you're gonna retire. But. Think about the national debt alone or the entitlements. You're there's no way taxi way up, and, you know, so if you take that deduction today because you're trying to avoid paying twenty five percent or guest light in twenty years from now, you might be paying sixty or seventy percent in those tax rates have been that high before in their high high in other countries. So I don't like the retirement idea because you keep you're not only deferring your savings, your deferring the lifestyle that those savings could provide you. So that's the mindset I do want to get people out of. And it also comes with a dependency of mindset that somehow your employers responsible for your retirement, and that's just bullcrap for. Sure. Even though four one K plan. I don't even the initial purpose of the plan was not to solely provide, you know, your retirement funds. I think it was to assist in your retirement in, you know, people. That's I mean, that's one in only lifeline. So let's let's move onto financial independence. What is that? In your is in kinda describe you know, what what the differences between. And the retirement mindset, so financial independence. I definition for me for the money part. Is you have to have enough passive income to pay for your lifestyle? And I would say that you could declare financial independence that major rental property cash. Flow your dividends your crowd funded investment, the notes whenever income business income if it pays for your electric city, your groceries, whatever your living costs are for housing basic, your financial independent now, active income, of course, than you can continue to build on that. Because ultimately, you know, I could say I was financially independent when my thirty thousand dollars a year lifestyle was covered by thirty thousand dollars in bills. But look today, look, I'll be honest price back fifty grand on winery. Now, so the passive income is much higher. But I don't completely depend on it. But it's nice knowing the financial freedom in that is knowing that. Okay. I'm gonna passive income be paid for my entire life style without ever touching. Princeton. Title, but ultimately, financial dependence. Once the numbers part is done. It's all about controlling your time and having the freedom to wake up without an alarm clock to not be forced to do anything. Now. There's nothing wrong with having active income, obviously today, I work. If you're joining trends, a company that I own run. But it's liberating that I wake up, and I don't I don't have to get your money since I want to do future money, and that's a good place that being so all the ultimate financial independence is being able to have control of your time. But I think in order to do that you have to have the multiple streams of income paying for your lifestyle because you know, one thing that Ramsey does get and he'll sake does not advocate for is. When you pay off something like your home that gives you something that's the feeling of wealth now that cannot be measured on a financial statements because that is just the feeling gives you waking up having a Cup of coffee knowing that there's no mortgage. I only have to come up with thousands of dollars for utilities thousand dollars food. And you're like, wow, my lifestyle you can be turned off like a hose, right? Like think about it. I mean, we went into deep depression. I mean without having a mortgage, you could you could turn your lifestyle down like a like a faucet. And I think that is one of the things I think that financial dependence can give you feeling which is beautiful a Levada that you mentioned that end. I think it's something that probably they both leg at an even. I even think about Tony Robbins. I recently read his book on many master of the game. And I think that when it comes to our financial decisions, and he may have said it best when it comes to our financial decisions in what our vision, isn't what is success in how we view wealth. And how we've you risk all of that. I mean, yes, you can look at Satistics. You can look at numbers you can look at well, this makes more sense on paper. But I mean, what it actually goes down to you in your emotional state and what you're comfortable with. And you know, what's okay for you. It's like. No. I mean, you can't give the same blueprint to every single person out there and expect them even if it's a great financial planning in expect him to be okay with it some people just don't take the risk as well. Some people don't understand how risky something. I mean. There's so many variables out there. So when I mean, you hit it right on the head when it comes to your financial intelligence. I don't think that it's a bad thing in, you know, like you said, Robert Robert is of the mindset like why would you do something like that? Like, that's crazy like financially speaking this just absurd while to craft your house, whereas at the end of the day, it's about your happiness your fulfillment. And how you feel about what you're doing? Right. Absolutely. Look. I mean there there's so many things that you can deal in your life just to be more peace and for me paint off. The mortgage is is one of many I have friends you'll even get into debates to like your Nadya. Why'd you do that? Why'd you pastor house? You could earn you know, ten percent on rental property or pure street or stock market and you'll have a three percent mortgage. It just doesn't matter. I don't care. What the what it looks like on Apor us telling you when I wake up every morning, I've been mortgage rates twenty eleven I love it because it did this stress. Like, Aw, you know. There's something going on in the business, or you know, maybe there's an urgent matter to take care of her. We need to help somebody get so liberating because you know, there's it's really hard for me to screw my life at this point with having that payoff Orage for sure let's talk about your progression, really quick through your through the retirement might said because I I don't even think you start with retiring mindset, I think and you can correct me if I'm wrong, I think you started down the quote, unquote, remember hockey, build your wealth pads. And then when financial difficulty hate, you're like, okay. Well, I need to go study a new a new school of thought to help me out of the situation while still holding onto some of the beliefs in some of the things that I had for my old school of thought and moving forward getting yourself out of that mess in moon for finding a way to kind of combine about both build your wealth. I want. You to explain it because I'm sure you can sign it way. Better. How did you get yourself out of your situation? What did you start to do when you start to invest in? And what were the schools of thoughts that you were kind minutes implementing at the time to get yourself out of your situation? So the the plan was you're right, though, out feel sake only going doesn't. But after you get murdered by debt, rightly your heads chopped off from debt crash, and it was just a disaster. All of a sudden, I was like, okay. Wait a minute. I get the good debt bad debt. But also like I cannot be in depth my apples because this just blew me a-. So that was that mindset of also going from wanting to get rich to just not wanting to make sure I'm never poor. And so my wife, and I the first thing we did was we really got into aggressive cutting of spending, which I briefly spoke up here. But one of the hardest things to do was to leave our area. So we were from LA county, and we moved an hour away in a San Bernardino county. And the reason why we did that was to save money. So we were able to cut our living expenses by. Half just by moving about an hour away. Now, of course, there is societal pressures a lot of peer pressure from friends and family who didn't sign up, right? They bought the bible thousand or house with a mortgage in state in the neighborhood. They bought the the BMW was with eight your car loan. You know, here I am driving a two thousand three Altima and just living in an area that probably had a median income of thirty grand a year. And just totally you know looked like a poor person. I guess in front of my friends, but really what we were doing. We were sitting there saving money, but it was saving money. So that we could buy rental property because my original plan was to simply just buying a rental property to be able to pay my mortgage to pay my own more to pay my own rent. I wanted to I wanted to just rent, and so that was how I was kind of focused on just buying rental properties with two hundred three hundred positive cash flow and bringing that money in and not compounding it or. Using it to pay off rental property dead, but using it to fund my lifestyle. So that was a good mindset to be an actually because that retirement mindset tells you to never touch the money, and it actually was very healthy for me to take the money because it became more real, right? So when it's paying a Bill when it pays the utility Bill. Now, all of a sudden, the money's becoming very real to me into these are becoming little businesses these rental properties. And that's really where we focus was just fine rental properties. And we didn't even really even those what the stock morning train a lot of stocks. We didn't really get into speculating stocks until about twenty eleven which became a fun hobby of but not something I relied on for income more. We we always focus ninety percent of our efforts on just how do we find properties to to bring in cash flow. And we'd stumble across things we'd learn like, you know, we'd found out foundation problems were easy to fix like five thousand dollars. But nobody else to buy win, you know, because of the Carleton sheets programs that I had studied I was my mind. Wind was very open to being unconventional. So that's a lot of times you'll run into a real most realtors have no idea with a compressor financing in. So luckily, I ran into some that were familiar with it in off I went and so to this day. I mean, I buy for five properties a year, and they're all they're all structured more free market base with the with the actual cellars yet by distrust dollar just distressed property or bullet dealie and create some sort of structure to be able to either purchase it as a rental purchase. It is a flip. But all of this happened because the credit score went away in two thousand eight and so it's kind of funny. You know, I lost something that was very valuable having seven hundred FICO, but it opened up unleashed all this creativity. That, you know, my subconscious mind had remembered all these things I learned at eighteen when I was paying three thousand dollars to have to be enrolled in Carleton sheets program for six months as beautiful. I want the listener. It's a really really hard on that. Because I mean, people all the time had these limiting beliefs over what is possible for them. What they are allowed to what they can. And can't do what side he is hoping is as the norm in you just cited I mean people's biggest hangup. Especially on America is credit like credit is king credit credit credit. Like, that's that's I mean, your life is going to be ran by credit not saying that you shouldn't look after your credit and keep it, you know, in the best place possible. But what I'm saying is that if you are in a position to where you were into tonight end, you that's not an option for you. There's no that doesn't automatically Michel lie down and give up because there's so much out there for you. There's so many other options in you've been able to kill it, quite frankly without I mean, you're not even using your credit. You're not even using the quote, unquote, the greatest gift that we've been given here. Right. And and you're killing me. So at debunks that belief right there in a month a month listeners to apply that some. So many other areas I mean, even money like somebody has great credit, but they don't have any money with credit financing. Daniel do you need money to get started in real estate now? And look I'm talking to a group right now who has brilliant idea in Austin to build some commercial properties. But they don't have the money. They have the idea. But of course, money the money will that you can always find money writ. That's the one thing about rich people rich people always wanting more money. So if you have a great real estate deal, I mean, E mail some people who are already in the business that I guarantee you'll find the money you really don't need. My I've done so many no money down deals or no money structure, or or a you. You just have to be creative and open minded there is no once you realize the script is not really they're finding matrix. Right. If you've ever seen the movie the matrix it gives like don't try to bend the spoon just realized there is no spoon. And I would say this for everybody listening. If you think about society or anything are just it's there's yes, there's a script for. Life that we are all aware of. But it's not it's not like, that's it not inherently in our DNA. The we need to go. Get jobs and retire or Gauguin alone to buy a house, there is wide open. So just put it out there. I mean, look I've done deals where the realtors get paid in six months because I need to borrow their commission to buy the property in the first place. So I mean, there's all kinds of things you can do use of the thing is you have to ask one thing. I have learned is if you don't ask you don't get of note before we run out on finish out the segment really quick of our step. So when you are looking to financial independence in what you've done again, you be in our best example right now when you're looking financial independence coming from like, no credit? No, nothing. I mean, the first thing you wanna do is an aggressive cutting spending. And that's what you guys aggressive cutting spending, especially your living expenses. And you started buying more rentals. It wasn't until a bit later till you started getting speculative on stocks. What else? Is in your wheelhouse. When it comes to investing. When it comes through are folio on what you're looking for. I love crowdfunding the I like fun rise, which is a private real estate reading like pure street, which allows you to buy node some totally ignorant of by notes. But I know it's a great idea to have first trustees on people's homes and pier street does that and the guy who created it used to work Google, Michael berry, the guy who Christian bale played in a big short. That's the seat investor for that company is legit group people disrupting the mortgage market, but allowing people like me to participate and everybody listening. I mean, you could put a thousand dollars towards a she don't twenty million dollar commercial property or a twenty two hundred thousand dollars single family home, and you'll just have share that in you're making anywhere from seven to eight percent. So I loved the crowd funding. And also these days when I do buy stocks, I'm big into wealth, preservation. So like, I don't have any. I don't have like the exciting blue chip for you. But I do have the idea of like, look the mindset of the. Rich is just not to lose the money. Warren Buffett says that's number one number two. Well, so let's say let's use Disney, for example, if I went out and bought Disney's stock today, and it went down, a middle-class mind might say you lost money. But the rich mind says I own Disney. I didn't lose a penny. A volatility does not equal risk and volatility in price. Does not mean you lost or gained anything consider the asset in, you know, my mindset when buying something like Disney is that I'm just looking for somewhere to hoard my money, and I don't want to cash so outside of buying something. That's never gone zero light gold. I might buy something that's never going to go to zero light Disney. Or of course, you know. I just love buying single family homes. I bought in all kinds out. But I think for me, I'm now buying single family homes, not only for cash flow. But just because I'm just looking for somewhere to preserve the wealth. Where can I preserve it where it won't go away? And and you know, when you think big like that you're thinking like a rich person because rich people recessions in bear markets don't matter because they have this hundred year timeframe because the wealth is not just something they're going to make themselves. The wealth is like a t ano- to be passed on from generation to generation. And of course, I'm first generation wealth talking to you. But I've spoken to interviewed many second third generation just in the past few weeks because I'm actually trying to write a book on family wealth. And that is it's just a different mindset. But that is the mindset wing me is if you want to be wealthy you have to mimic the wealthy nets. By stripping Tony Robbins, Daniel hugging pick up a book hugging up preorder that book while there's there's it's still in the base. I actually I have I have a book actually coming out in February. I'll make sure I send you a copy in its you're gonna love the title. It's called don't say for retirement. I love a lot of people. I love it already lifestyle design acceleration Hanks. Question number one. What is your favorite before the millions book rich poor, Deborah, Robert kiyosaki, bone, and you guys know that book very very well. So we're not going to go into it. Number two. What is your favorite lifestyle design at this can be a business app or tool, you know? Unfortunately, I don't use any apps out of going non tech savvy online millennial. You can't be a non ticks every online millennial living in Austin. I guess the only at that. I actually use chase a love C J. I love it. I love it. We'll go with that. We'll go with that. All right next question. What do you enjoy? Most about the way your lifestyle is currently designed apps. It's one hundred percent. My children. I wake up every day with my children. I have coffee and hang out with them. We read we sit around and watch shark tank together, we play cash flow all the time. I spend a good amount of time with my children every day. And that is the most important thing to me what were the sacrifices that you knew you had to make before the millions to get to where you are today. I know some of them are ready swallowing my pride living like a poor person declining going to parties whine groups limo rides with friends, you know, whatever just living like a poor person. And being very, you know, rejecting all the things my friends wanted to do just because so focused on becoming independent who was essential to your growth before the millions. And why without a doubt my father because he taught me. The go all in. And I think that's something that I got from him last night. 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 belief less Brown talks about something that really struck a chord with me. He said the easiest thing I've ever done is make a million dollars the hardest thing I ever done. It was believing. I could do it. And it's it is believe I'll tell you really consider that. And that is one of the best take wish for the audience. It is the belief. I never thought a million years. I could just make a million dollars. I'll tell you right now by needs to make a million dollars the next thirty days. I I'll do it so much. That's the beautiful quote. And actually have a bonus question because you spend I believe you said at least over fifty K A year in wine. So give us some of your favorite recommendations. I think some good recommendation, certainly I love a bit Pena nor called Clark cappella phone. You'll notice it has the wax over it. It's about forty five bucks at the grocery store without a doubt, one of my go-to and starters for the evening. My also. Love a some good cabernet is out there by wine recalled Justin, and I think you can't go wrong with any wines from Justin nice live at thanks for the extra. So if the listeners wanted want to reach out to learn a little bit more about you check out some of the stuff you have going on. Where can they find some information? Well, the future money translate calm. You can subscribe to my weekly digest for free, and you'll get both east this stories and things that I bid to become wealthy. You'll also each week at the things that I'm doing right now. So I'm writing a check into anything. I like to share it. I like just brutal open honesty when everybody everything that I'm doing so go to Germany transferred to dot com. You can subscribe pretty very well, Dan. This has been an amazing podcast interview is sincerely will have to have you back on. And I feel like there's so much that we haven't talked about that we could possibly talk about. So thank you for the the value that you've provided to our audience. Thank you for the value that you provide to your audience and people out there on a daily basis. I definitely bresnik people are on this mission. And who? Are helping people discover and inside of them. So definitely thanks for the work that you put in and we'll talk to very soon. Thanks very much. Thanks for tuning into today show. If you like what you've heard, and you're interested in seeing if you're a good fit work with the before the millions team. Here's what I want you to do next head over to before the millions dot com for its lash call that's before the millions dot com slash call and book an appointment to speak with our team. We'll get on the phone with you for about forty five minutes, and we'll get you. Crystal clear on three things number one. What is your cash flow goal? How much are you looking to make every month? Number two, your personalized investing strategy and number three the best way to get started using cash flowing rental real estate, remember starting in scaling, your real estate investments and business doesn't happen by itself. You need expert guidance to make it happen. We've helped clients all over the world start in scale. They're investing efforts to six figures and beyond while enjoying life and making the world of better place to find out if we can help you do the same head over to before the millions dot com for its lash call I'm Dora Eliya, and let's talk soon.

Daniel Meduri Daniel Dave Ramsey Robert kiyosaki Tony Robbins Barnes Konami Aaliyah depression Gina Lofton MC Laubscher Derek Heather haven Marcus Mr. Hollywood Ray
BTM148: The Screening Process for Profitable Tenant Buyer Strategies with Paul Ritter

Before the Millions

57:16 min | 7 months ago

BTM148: The Screening Process for Profitable Tenant Buyer Strategies with Paul Ritter

"This is Doray. And you're listening to the before the millions podcast episode. One Forty Eight. You ready to be the master architect of your life. Are you ready to design Your Business and invested needs that create the lifestyle? You've always dreamt up. Are you ready to learn from entrepreneurs and millionaires? Who achieved a certain level of success? Hey this is Derek Location Independent Entrepreneur. And you're listening to the before. The millions podcast. I am Gina Lofton. I am 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 millions podcast. Hey this marcus crispy host of the seven minute mentor. Podcast global entrepreneur and all round Geek. And you listen to the before. The millions podcasts. I am MC Laubscher the cash linenger. And you're listening to before the million spot costs you're listening to the before the millions podcast a whether you're looking to invest for cash flow or 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 you're rose derain what did you. Btm tribe welcome to this brand new installment of the before the millions podcasts. Guys I am so excited for this week this week. World launching guys were actually launching. It's been a long time coming up. Talk about this more a little bit later but right now I want to get to the business at hand because this may be an opportunity for you to take advantage of a very slept on strategy and the real estate world eighty percent of people today cannot qualify for a mortgage if they just walked to the bank and applied for loan and want us get a new home eighty percent of people they would either need a few months or a few years of seasoning they. We need to improve their credit score that we need to get their debt income ratio to balance the right way. I mean there's small little and sometimes even big things need to change in order for many people today to get approved for loan with that being said guys that provides a massive opportunity for you as an investor to take advantage of so typically as a real estate investor. When you get a property under contract with they date to close on this property in the future there are few options as to how and if you should close on the property and this all kind of depends on your real estate investing strategy not only the strategy that you use to acquire the property but also the strategy and wish you implement to exit the Property. So let me explain. Oftentimes the average real estate investor is investing for a lump sum cash which are massive pay-outs maybe like a fix and flip or a wholesale or cash flow which is monthly reoccurring revenue. Something like our rental property so when you get a property under contract you have the ability to either perform something. That's GonNa make you a whole lot of money up front or something that's GonNa pay you many over time. So the vehicles that pay a whole lot of money up front and our risk free or vehicles like wholesaling because because you're signing your rights to a contract that you have what they seller before needing to close on property and you have little to no money in the deal this is what makes it as close to risk free as possible and ultimately when you wholesale a deal to an investor. You're actually assigning your contract to buy the property to that investor these types of investors. In which we you'll be a sign of your contract to are often fixers and flippers an order for a fixture on flipper to make money off of a wholesale contract. They need to have bought the property at a deep discount. So far below what the property could be worth if it was all fixed up now typically investors like to buy properties at between sixty and seventy percent of a RV the after repair value so the potential value of the property once-off extent sixty and seventy percent. Maybe even seventy five percent in some markets for rental property investors as opposed to fix flippers. These investors they're okay with seventy five percent maybe eighty percent eighty five percent of the after repair about you reason. Being is now the typical homebuyer. The traditional buyer is going to want to pay between ninety percent and one hundred percent of the after repair value. So if you know your extra Yuki leak and look at your deal and already start to understand. Who's the perfect and by your. Who's the perfect investor fixer and flipper for this particular deal based on what the number? Shakeout to there's a fourth category of property buyers there are not fixing flippers or not rental property investors do not even traditional home buyers these individuals they cannot qualify for financing today in the traditional sense that cannot walk into a bank and get a loan for a property that they want to buy so oftentimes what they do is they will wait in rent until they're able to qualify now. We're not going to get into all the specifics today. Because we've covered covered this on a few previous episodes but an essence getting a property under contract and marketing to those types of buyers allows you to sell a property at full price to a RV or even a little bit over what the property is worth so in terms of why these buyers which Beca- tenant buyers on a rental own program or on a lease purchase program. The reason why they would do that is going to all be explained on. Today's episode now. These payouts their way larger than wholesale. So if you're making five ten grand on a wholesale you could be making forty fifty sixty grand on these type of assignments and the cool thing again about these. Assignments is because it's an assignment. You're not actually closing on the property there just as risk free and just as lucrative so this is why. I don't fix him personally. Because I make fixing and flipping type of income on a strategy that is a lot less time intensive and way less money intensive and this is just one of the few strategies that compromise the motivated segmented and in my upcoming masterclass which you'll get details on the tip of the week. I'm going to break down my entire model all of my strategies and show you why it's the most effective in the Biz Labatt's the tenant buyer strategy. I want you to know that. This is not just for assignments if you own a property now if you decide to owner property in the future if you decide to take down a property with one of the strategies under the motivated settlement that like owner financing again another strategy in which you can buy a property none of your own money. This is more of a cash flow strategy. But let's just say you decide to sell which actually turns out to be a better option than just attended by our assignment or just an owner financed when you combine. These two magic really happens but let's just say again just for simplicity's sake that you decide to sell you don't have to sell to an investor you don't have to sell to a traditional buyer you can sell to again a tenant buyer and the reasons that you may want to sell to a tenant buyer is because you're going to be able to make way more money if you're GONNA be able to price the property for a higher amount than you usually would be able to do. You're going to get to experience some tax benefits able to avoid some of those capital gains. Maybe you no longer want to be a landlord and instead of landlords and tenants if you put a tenant buyer in that same position that time it would have been in with the idea that they're going to purchase the property in the next two years. Well they're already activists the buyer today. So there's no hey. Landlord come fix this conflicts. That no they are the buyers and they are responsible for all of the repairs and maintenance on the property so you you're no longer landlord pursuing the strategy. But you're still collecting the same rent if not more rent than you would have as a landlord while achieving a higher than normal sales price also. The street is good as as an exit strategy. If you just don't need the money right now if you just need somewhere to put your money habit have it working for you. It's a great strategy to make sure that you having your arsenal regardless if you're doing assignments or if you're taking down properties and you're looking to offload some of your properties that's enough of a teaching lesson for Today. I will cover the entire how to find tenant Bairo strategy and the rest of my strategies on my master class. And I'll talk more about where you can sign up for that on today's episode interviewing Mr Paul Ritter and I have the pleasure of doing business with Mr Paul Ritter. Paul runs a credit check. Background and prescreening company so in essence they do a lot of the heavy lifting when I find my tenant buyers the entire process that tenant buyer goes through just like the regular tenant process when you're making sure you're putting the right tenants in your units. There's a very similar but more stringent tenor bioprocess. To make sure that you're putting the right by your and your units to run out for the next few months until they get mortgage qualified. So Paul's team. They actually do something that most credit repair companies and most prescreening companies don't do it all they cater to the needs of an investor. We're going talk a lot about that on today. Show and why I use him and his wife but just as a sneak peek. One thing that really differentiates Paul and his company from a lot. Our the credit repair company. Is You know you may get results from another credit repair company in an hours or even minutes because they're just going back and all the databases and they're taking a snapshot of Ten buyer's credit history. Anybody can do that. You can do that yourself. What Paul and his team does is. They actually give you a report. And it takes three or four days for them to get back to you with this report because they're crunching numbers and they're looking at other factors. That don't necessarily show up on your credit report to determine when your tenant buyer is going to be mortgage ready and I find this end valuable because it helps me put together contracts right way. They're super hands on. They pick up the phone for any and everybody who has question so again they will walk. Your tenant buyers through the entire process misses a great automation slash outsourcing mechanism for me and my business and also my coaching clients. So when it comes to pre-screening getting attended by your mortgage ready over the course of the next few months to years. I leave all of that to Paul and I just make sure once that is done. I put in the ten in Bahrain on my property. I start cash flowing or sign the property that I got under contract to attendant by and I get a large lump sum payout meanwhile the original seller of that. Do they start cash flowing which is awesome but they also get paid way more than they would have gotten on market and often times a lot of others that I get the of these types of transactions disgruntled sellers who took their property on the market with a realtor and it wasn't able to sell and then we're able to sell their property not only in a faster time but also for a much higher price and we collect the fee for doing that. So it's a win win across the board and I can't wait for you guys learn a little bit more about this process. So let's get to the tip of the week and then let's actually get to talking with Paul about his business and how everything works of the week okay. Good tip of the week is to tell you to explain to you to iterating to you why it is imperative that you join me on my brand new life. That's live live master class and this master class is called four keys to building a lifestyle business through real estate and to reserve your seat head over to before the millions dot com forward slash masterclass guys only going to be exactly one hundred fifty seats available. I guarantee you do not want to wait till the last minute. Just head over to before the DOT com for slash masterclass and sign up for the class. Now here's some of the things that you're going to learn this masterclass you're gonNA learn two of the most profitable strategies in real estate today again. Some of the strategies that I mentioned in the intro strategies that dramatically cut down your risk and that can still be utilized with no cash credit or banks. You'RE GONNA learn the key. Shift that disconnects your time from your income. And this is the shift that really enables for investors and entrepreneurs to create what we like to term a lifestyle business you're gonNA earn the highest converting approach to closing deals with motivated sellers. So this is going to reduce the achey feeling that you get when it comes to get in on the phone or talking with sellers or putting yourself out there It's not GONNA be a sales conversation. You're going to learn how to serve a seller and create a profitable real estate transaction for yourself. You'RE GONNA learn the single most effective way to become a real estate investor and twenty twenty and then. I'm also going to show you why this is important to do right out of the gate if you're just getting started it's going to help you stay motivated throughout Your Business Building Journey. So you absolutely do not want to miss this masterclass. It's alright before the millions dot com for slash masterclass. And then when it's all said and done when it's all wrapped up when you've learned a ton of massive information you using your real estate business moving forward we're gonNA have a nice intimate session at the end where I'll be answering all your questions for the rest of the night so this is an opportunity. That again will not come very often. You WanNA head over to before the millions dot com forward slash masterclass. And if it's just for us to talk strategy at the end of the masterclass to talk about the questions that you have talked about the deals that you're currently going to right now. It is well worth your attendance bet before the millions dot com slash master class. Now let's get to the show and now your feature presentation. Welcome to the show. Mr Paul Ritter von say well thank you derail and thank you for the warm welcome. I'm looking forward to give him some good information to the bt 'em tribe it should take me back to the first thoughts of. Hey I want I want to start building I WANNA start doing. I WANNA start serving people in a different fasting when when did come from the spots are having i. I am like the ultimate entrepreneur. The day I graduated college I knew that I was going to be in my own business. I was not gonNA be working for the man. I wanted to have my own business. So the roots go way back there and Yes I did have some nine to five jobs along the way I actually worked with IBM and I worked a lot with computers and it. Kinda brought me to the area of real estate actually through the mortgage and of it and as I was a mortgage broker. I finally figured out how to get my own mortgage company on and operated several different mortgage companies in the nineties when the market was really strong and through that. That's where I get energy to credit repair. Credit repair came on the scene for me back in about nineteen ninety seven so you can do the quick math about twenty two years in the industry so far I was so I was one of the pioneers in this industry. And I've by your true rags to riches to rags again back the riches again and in between I go in between quite often based upon life events kind of take a microscopic approach to that big. First Time you you came across the credit repair industry. What was appealing about the credit repair industry? At the time for you personally well I actually knew a bunch of other mortgage brokers. It's always good no matter what interfere and to know your competitors actually going to be friends with your competitors in so. I knew a lot of people. I got introduced to credit repair because I went through a divorce and it was a kind of a nasty one and it was. It was a train wreck and as it wreaked havoc on my credit report. I found out about this service that was being offered by a multilevel marketing company. That actually took a bankruptcy off my credit report and I was like wow wipe ops went off. I was like wow. This really looks cool and it was like my first introduction to it so all the other mortgage broker friends that I had after I told him that story they said well. How'd you do that as well? You know I started doing it myself. And they started bringing me their business and I said you know. I'm a mortgage broker to actually can take your deals. But that's not the way I went I learned to have people in trust me and entrust them and the business grew and took off ever since then that was back in nineteen ninety seven actually opened doors up in two thousand and four with this business and I haven't looked back since you took what could have been probably one of the most trying times in your life and saw a way for you to not only Improve your credit but you also saw business in that because they had such a profound impact on wildlife. They took a whole banks off my credit report. I need to tell other people about this. I need to be able to serve other people with you. Wanted to get better sounded like he wanted to get that message on a net. Osman is actually find successful. That people who find a problem that needs all right. And that's kind of what you realize like your life. You said that you didn't put the doors until two thousand forty me but actually got my My license my Pennsylvania. All the paperwork that you needed to do for for business and I opened up the business and got my My Yon in and so on. So that's when actually it all started. Unofficially I have been doing some work before that on. Excel spreadsheets. Are Older Excel spreadsheet. That's how we actually drafted the letters in the early stages of this before. We actually developed our own software. But I say I'm the I'm the ultimate entrepreneur there was no manual and there is no guide and this is not a franchise and this is nobody has the wild wild west. When I started there was nobody doing this. And and it really. It really had to figure out you know based upon even the tools at that time and it was not easy you know and you don't have Email was around but it wasn't as proficient as it was now. So using those barbaric tools It was very cumbersome but You know people whenever you have a need and you have a desire then. There's a solution when you're talking about the bulk of the work that you're needing to figure out was more so on the entrepreneurial side just figuring out how to build a business or something that you may have not had done before or isn't more so through great now mike the inner workings of Your Business Right how to actually improve credit scores. How go about that process the red tape and stuff like that which equal equal? And you can't discount either one. You can't say well. It was all holl actually to produce a letters do interrupting to the business and you can't discount the structure of the business and then training people putting together manuals and all that other stuff that comes along with it so it was a lot of time spent in both sides of that equation or when did you come about your niche was. Was it something that you had out of the gate because you are in the Mortgage Industry Jordan Haggar Nature? Was this this. Come after thousand. Recognize this communications self apart from other credit repair comes. So when did I turn the corner on this and really make it my full time job catering to investors and making sure that McCain's Catering I would say that. Probably took place around two thousand and ten. Whenever I met Mr Ron Legrand and ran the grand has sent me all his business since that time. And whenever he teaches people he endorses us. And when that meeting happened between Russell and Ron and my wife That we came up with our screening business that becomes the front end of the credit repair business. That's when this thing really turned the corner. So was this meeting a key player in following listening very carefully to what he wanted and how he needs he needed it delivered to his people and then adopting my business to that strategy. Tell me about two thousand nine the year before you make wrong the grant how has business going and what is what is your primary focus. And why do you think you're so receptive going twenty ten? Why do you think you were so receptive to your situation? Because I could have been anybody right all you could have said No. You could have been like this guys you come in so many different things could have happened. Why was it the perfect time? What was it this is? The perfect meal was the perfect. What happened to your before. But after that. You're the CONVEX to this well. This was the rags part of the story. And this is. I could write a book on this Ray. I was living in a place that They didn't even charge me for rent. Let's start with that There was no bathroom in the place so I had to go to the gym and work out to be able to take a shower so it was pretty rough times. And that's the time that I met my wife. And and she hunkered down and she said you know what you have a viable business. Here you really need to put yourself in full force into this business. And when she believed in it and she also You know helped develop it and really sat down and was my right hand man with this whole thing when she went that far. That's where this thing really started to turn the corner and it was through that then through those friends at were why got to meet Ron and the T. When we stepped up on the stage we were ready for it and we were willing enable an except in and In Ron Saul that he has since that time we've been blessed over and over and over again and I also thank the Lord Lord was is my savior and Lord. Was there for me. The entire time and helping guide me through this journey so much and so primarily before two thousand ten year focus was on helping any. Everybody knew who needed credit repaired? You're marketing everybody. Basically which kind of sometimes we look at marketing. Nobody so that was before two thousand ten now. Two thousand ten comes along and you have this opportunity. And you're like what there's a certain subset of society real estate investors that have an exit strategy in which they need to get to Mars. Mortgage ready now was. Did you approach wrong with this idea? That if he approached with the idea had already kinda worked on some of this stuff before the new executives. Do you have to kind of figure out things as as came along. How did that transpire? That's a great question. Did he approach me tonight? Coach him I can't remember. I remember being you know in in conferences with him and actually doing some pieces much like you are today. But I don't remember who approach to. I think he approached me to be honest with you. That's memory serves me correctly? He says you know Paul. You're already looking at the credit reports. You know you already really should do this. Point in time is do a screening for them. Criminal BACKGROUND CHECK. And then that he and then he tells me the price I'm GonNa you're gonNA charge fifty dollars. I says I can't do this for fifty bucks you know. He's like no. You're charging fifty dollars. Veron charging fifty dollars around. That's the way that's the way that work dot and to this day. The price remains fifty bucks for a screening. The Cadillac of screenings is why? I like to say that's beautiful. And and Kinda just Kinda want you to walk my listeners through have the Rolodex of things that you offered. Because I mean it's not only not only screen credit repeater because catering to Tampa buyers you're also Let's just jump into what it is at your company is doing and how how amazing that actually is. There is no other company doing anything near what we're doing. Yes there are screening companies out there. Yes there are credit repair companies out there. But they don't do the business the way we do it in the way we deliver it here. Let me let me speak upon that screening companies Trans Union Smart Moves Landlord Station all these companies. That what they'll do is they'll take the credit report in the computer makes the decision based upon some preset criteria. And that's it is. It's looking at past present. Future of things are on your credit. Report your score is primarily The the major tool there but that doesn't in our industry. That doesn't tell you whether or not someone's going to cash out in a mortgage get a mortgage two years from now. That's basically the rent industry. So they're a you. Try to retrofit a rent decision making process into a rent own procedure. It's not it's not a true fit. So what is missing in? That is can the person for the house and in a what would have to happen in order for that to occur. What would the action plan? B for the tenant buyer so we do a full debt income ratio to figure out the affordability analysis. We basically actually. I had software that I had written way back in the day when I was a mortgage Person and also did some underwriting so it has all the underwriting guidelines for Fha va Usda Fannie Mae and Freddie Mac already built into it so it knows the ratio is based upon even things like. Usda of its houses in certain area that it can be USA eligible and therefore you can have a little bit more latitude with the amount of down payment and the back end ratio and so on so it figures all this stuff out the stuff that you really most people. Don't want to sit down and calculate odd figures out the affordability and it also takes account the debts that are on the credit report and then we teach people. Hey don't go out and buy a brand numerous eighties right before you make your application because that will be a part of your debt income ratio when you may kick yourself out of underwriting guidelines derided you know the number one reason that people can't get a mortgage isn't credit score nears a credit repair person saying this to you. It's actually debt to income ratio. And that's basically how much money you make and how money you pour out per month one number divided into the other number kicks back Andrea show. And that's the number on recent so if you're not doing all that that calculation before you put somebody in their house you're setting them up for failure so that's that's just on that's just on the screening side. I think it'd be value as we enter this this next portion of the of the compensation because I do have listeners for really really great so they may just be like you know what is attended by right. There might be one of their living. Let me take a step back. We're doing an exit strategy with with ten years is will putting buyers place. Fry SOLICITS. There's not just outside our property. It's been on the market for six months. It's been on the market for year and it's listed hundred thousand dollars but there's literally nobody buying the property with rb it's updated people would love to live there. Maybe it's just maybe the value of it is just not wearing needs to be. Maybe the owners are willing to budge and bring the price down. Well maybe there is somebody who doesn't qualify for a loan trading today these people actually make more of the market and people are actually right so you have people who are mortgage ready. But they're looking at property language which have most of the market who are not mortgage ready looking at that property. That would die for that already. Right on they're just not mortgage rates so with this exit strategy. We're going those people in the property today contingent that they're gonNA be able to get qualified for long in the next six to twelve twenty four to even thirty six months. This allows us to sell that. Property wasn't As now this allows us Maybe ten thousand dollars right and lung those things to we're now as a real estate investor you able to make a whole lot more money not only on what the purchase price also Comments on because this person getting on what we like to call her Own so they're rental property for a specified amount of time until their mortgage ready. And what you guys do you guys really take them through the entire process from screening to credit repair. I had of course the day from one of my clients and he was like well thinking about option and I just don't know how long they make the times tons with the seller. Believe in terms of long as possible. He was like well. How do I know how long the terminal dependent? Ira will be like where you guys come in right and I can't explain that process right using a hundred thousand dollar house. I just wanted to kind of give brief overview just in case there just like what's attendant buyer. Who knows how are you? This is the way for you to profitably overpay for property. If that makes sense well I wanted to actually add a little piece to that in a big question mark. A lot of people have that we listening to this broadcast and many others is. Why would somebody? Why in the world would somebody buy property for one hundred ten when it's total value to right now one hundred thousand dollars in the answer is terms because you're offering terms and in also ingrained in those terms is a futuristic value? Remember I'm selling you that property as if you were purchasing it three years. Now that's when we're GONNA be at our second closing table. I call that the cash out closing table. The first closing tape was the one where you get the keys and you move into the house. So since the properties appreciate in value. That's why this is a more attractive deal at one hundred and ten thousand even though it's above market value. That's a futuristic price. Last when I say I enunciate that it's bought terms. Remember the people don't have to come up with a hundred thousand today. Even though they've got damaged credit or if they've got That INCOME RATIOS ISSUES. They're self employed. They don't show their income just yet actually have derided. I bought my last two houses. Using lease purchase lease option or rent on terms of synonymous the people that are buying like to refer to as rent on we in this industry call it lease option lease purchase but the reason why that happens is because of that so my standpoint what I do. That's that's really a special in. That is when people come to me. They don't know what they don't know they don't know that the you know. How long does it take for them to be mortgage ready? I've looked at ten thousand credit reports or more and I have seen what it takes and I know what this industry I've I've probably disputed information on five thousand credit reports or more. I've probably done fifty thousand disputes or more. So I know what items can come off. And what items are going to remain. Based based upon the dispute resolution process that we engage in and I and what we do here that specials. We put the pedal to the medal race. We get it done as quickly as we possibly can. All credit repair companies are not created equal. Here's what you're going to get from everybody else in the industry that I've talked I've talked. I know my competition very very well. What they do. Is THEY DISPUTE? One thing at a TIME LEXINGTON LAW CREDIT REPAIR DOT COM. You got ten negative items on one credit report. What happens is that's about thirty across three credit bureaus. They'll dispute one thing. Every forty five days do the quick math. Now we're talking about years before they even get through the first level of disputes and really things come off in the second third time around whenever you dispute things that same client. I would dispute all thirty negative items now. I might only get seven eight nine items off. That'd be an average set of results but that's a quantum leap from sitting. There may be getting one item often forty five days so that pedal to the metal attitude is the is the reason why I can tell you what the end date is before you even start my service and our maximum end date is nine months? You'll never get an end date from anybody else before they even start. That's the that's the key thing when I say that all credit repair companies not created equal. That's the key thing as a real investor. I let you know how long it's going to be and what the action plan is going to be in place before they even start a. That's beautifully certain again. I love to drive examples because going back to what you said. I mean the fact that attendant buyer right so minds looking for a property. That's not able to get financing. So therefore they're not going to buy a home today the fact that you're able to put them in a home as lucid investigator to put them in a home a home of their choosing right a home that they're taking ownership of their locking down a price of one hundred and ten thousand dollars today even though let's say of the market value of that property is hundred thousand dollars in three years when they actually cash out when they actually get financing that property maybe one hundred and fifteen hundred and twenty five thousand dollars a capture all of that catch-all who met appreciation that capture all upside so the walking in the Mama so going back to the Questions like why would I- overpaid for property? While with a property will they're not truly an for property lacking the rate today on the seller side Poverty for the past six months one year at a hundred thousand dollars and it's not selling not only is it not selling but if it did sell fees associated with that sale including a realtors commission which is on average six percent plus closing costs. None of these. I mean you're you're not gonNA get a hundred thousand dollars you you'll be lucky to get ninety thousand dollars. Do Position Yourself as an investable solving the problem with not only a salary but attendant firing you can make a lot of magic cap so by one further this process a little bit more. So let's Contract with the southern miss. I was like okay. Yes I'm willing to do this. I know that I'll get cash out at the end of this process. What happens next right? So now we start marketing satanic blacks. I WANNA go back to your portion of what you guys are offering in this process. So let's just attended by we have a few buyers are like hey we're arguably And tell them like. Hey you're something we wanna see where you are as far as audacious. Oh we're going to send you to Paul. Paul is GonNa take care of your men. You send them to you what happens. Well the process of sending them to us as you can tell and talking with us we have a superior I like to think and and many people will agree with me that we have a superior screening procedure and as superior credit repair process. Those two together tied together are the ultimate option exit strategy. The reason why I haven't taken over this whole industry and had everyone sending everything to us. this point in time is the delivery of how I've been. I've been remiss in my process of how to send people to us. We just perfected this about two weeks ago. And you're GonNa this show here is going to be the first grand. Roll out of this per- this new process. This is what it includes in this works. It works beautifully. I've been doing it for about the last two weeks. People been registering. Wait to hear how this works. So what happens is we now. Put up a link on our website at Prequel team dot COM. And is it says free membership registration. I love that word free and it truly is free. All they gotta do is. Click on this free membership. Registration and up comes a little form. They got six questions and when they do that. They're basically telling us who they are and what happens is it kicks out three main components. I is to email an email. That has two videos in it one for them. How they so they learn about the process they learn what the the you know. The specifics are about how we do our business. The second one is for the tenant buyer so what the tender buyers sees whenever they apply the third thing that is going to kick out a customized branded link and now that is a really cool thing because For example day you had Lincoln. You had your name to be The trigger mechanism it would say apply dot prequel team slash d'auray. So now when people see that they don't see some bit linked. It looks like it's something. Somebody's trying to steal their identity or something. It's a very known it tells you in the link. What is actually going to do when they click on that they're gonNA they're gonNa see this your ten of buyers GonNa see a beautiful Professionally done application. That has has graphics in the background and has logic built into it. It knows if there's one or two people to not put this whole second person on there it has a testimonials in the bottom of it. It has all kinds of answers questions with bubbles and things like that really cool stuff there so this this application when they fill it up L. and by the way you are name is already on the application when they opened it up your name and your company name and your email address and your phone number and I've made it so that this is the one that this is not your personal email your personal phone number. You have the opportunity to put in the one you want the public to see so now. They opened up. They owe that they. Now see that this is the property. This is the person and then hit that submit button. Hit It with confidence. And then they get a video. Basically teaches about the procedure and again all this is free to your listeners for listening to this today because of the registration process that we've not put in place so we're really excited about it here in the company because we're just rolling this out now. I can't wait to hop on that myself because they're going to love how you're all processes attendant buyer comes across one of our properties and they're like hey like. I'm interested in this alive. You the property I. WanNa see where you are and your credit credit worthiness GonNa send you to Paul Org. Actually send them a link at this point. Right may interject one more thing. It's also going to send you a script what you're what you're what reiterating to me right now. As to how you would address somebody is going to send you a very professional script with the words very very carefully chosen. So now you're going to basically recite that script to them. It drives them to the link. I'm sorry go ahead. No perfect perfect perfect once they go to the link basically gives them instructions of any. Must I get you guys aren't formation whether you guys do on your what you guys were to us as the investors when you guys provide attendants and how does that process Emerge after that. I am so glad you asked that. So here's what happens. Once they hit that submit button. Remember your name was already engraved on his thing in your email address when they hit that the instant they hit that you're CC'd their entire application so you know that they applied and that they're in everything everything that is on their application. You see all that it's all transparent you'll then receive at a An invitation from our crew here because we work in a piece of software called Patio. And you'll see receive an invitation from our crew that you can track and follow along with the progress. That as with my competitor's one thing that they do it's kind of better than what I do. Is they render the decision instantaneously as soon as that application is submitted but now remember in my world whenever they submit that application. They've gotTa Talk to you a credit expert. We've got a do a full debt. Income Ratio Analysis and. I need to get their income documentation. So there is more information they're actually talking to you MITTS. And they're they're going to go in and and do some things so it's usually about a three to four day process before we render. We don't render a decision. We're not render a yes or no we render If they give you the criminal background check. Megan's law report. You know an all the background stuff associate with bus at that income ratio which is a disclosure form that they actually have to sign to say that they're not gonNA materially change your income their debt load. So we give you all this stuff. That's that's all going to be part of this package again. They paid for it. So it's again to real estate investor. All this stuff is free because they're gonNA piss instead of paint a thirty dollar application fee. They'RE GONNA pay fifty dollar application fee. Remember this is a rent to own. This is not a rent no so put it in a different category. They're eager to pay fifty dollars to get now again. We're not under the decision. We send the report off to you and we let you know. How long is it going to be for them to be mortgage writing? What needs to occur in order for that to happen. And then the credit piece of kicks into. I'm sorry go ahead break Yup. So one thing I want interject on his is the fact that you guys are not rendering a decision and you guys. You guys are basically telling US exactly. Mike what would it take? Hey if they do X Y and Z. This is how long This is how long were project x when when you guys are thinking about that you know think about your pool of sellers right and you have some sellers like hey. I need to be cash out of the year or some cash out in three years. So you're not you're not we're we're not in the business of trying to say while if all gives me reporting the report says hey the Senate. I'm going to be more for the next two years will. There's no way I can fit that person. As the property thing WanNa property was to sellers can get get cash out in the next one year so you have to play matchmaker. You have to master. The tenant buyer will opting which they can also. It's not an automatic thing. It's not Susan also all on his end that you're not making this forest. They're giving us their recommendation. And we're using that smashed together. Yeah and I'll even go as far as of of especially for people who are new to this to the procedure. I'll talk to them personally and I'll and I'll let them know. You know what my feeling is on this. 'cause I remember we're talking to these people from a credit sampling. Oftentimes we talked to him for half an hour. And we're finding out things in that discussion. That maybe alarming. So you know. We're looking at this from a different angle. And were saying I'll I've been as far as to say you know this person's definitely worth taking the chance on. This person really looks to be strong candidate. So I'll go that far but I wouldn't I don't say yes or no veterans and that you can think of that we have covered. Well the main question is I guess. What's the distinction? Why why us? Rather than you know. Lexington Law from the credit report repair standpoint. You know what Magic Wand do you guys have that other people other companies? Don't then that's really goes back to our methodology. And when we do this we save the data from years and we see what works. And what does it work? And we're always trying new things and I'm I'm part of a larger group of of credit repair companies and we compare notes so we know you know what's working and what isn't now may not be. The same thing was working. Your wasn't Several years back. So it's staying up on it that that really matters as far as real estate investors with frequently asked questions I guess probably the most frequently asked questions is how do we get ten of buyer over to you and I would say just look at the videos and look at the script and the answer. The answer to these questions is in the registration process. And it's only two three minute videos in one script one paragraph long. So those answers are it's all very carefully written so I would strongly encourage that to be the teaching mechanism on going forward link to the registration again. Go to Prequel team dot COM R. E. Q. U. A. L. T. E. A. M. dot com and. There's a big funny lookin' wheel like looking red button in the blower left hand corner says free membership registration and underneath says something about real estate investors so click glad and it opens up the six questions. You fill it out and the computer actually. He's the one that puts together the links and everything and sends it all out T- within ten minutes. And what's the what's the charge on the investors in how you love this eero? That's beautiful so once an investor does go through this process in start sending you guys attorney buyers for screening repairs things like that. What is what is the by. After responsible of and over what time period. Yeah and the reason why. It is zero for the real. Estate investor is because the tenant buyer pays for the application fee. Witches fifty dollars per person husband and wife is considered to people. That's fifty bucks or peace so it's one hundred dollars. So and if they do in the gutter and to be honest with you derive the screening company. I don't make any money. It's it's all that's how much money I pay for the criminal background. Check running all the reports and getting the credit report and put an altogether. That's what I gotta pay people to do it. I don't make any money. They're the reason I do all that for that little amount then going back to the role in the grand conversation. That's what you're gonNA charge. So that's why charge I also get credit repair leads from it. I do make money and credit repair. And that's why this whole thing works for me. That's why it's so inexpensive. I was trying to charge seventy nine dollars for the for the screening. That would have been a fair price to pay a fair market markup for something like that but now I am I I do do the creditor one twenty per person and remember. I said it was a maximum of nine months. So if you hear of other companies charging fifty bucks there's no end date nerves usually about a three hundred dollars setup fee with something like that so you get what you pay for. That company is going to dispute one thing at a time for fifty dollars a month. I don't think I would want to do business with him. I am in this world where it's so key that were cashing out. We're seeing what that second closing table. We have to get there. You know the stakes are very high for everybody because the house may be turning into a Pumpkin. You may only have that house tied up for three years. And now you've got a guy in there for a two year lease option. So do you really want them to cash? Guess what if you've got a back end on that thing where you're making fifty thousand dollars when you cash out on that property you really do want him to cash out right because you only got five thousand ten thousand front but you're getting fifty on the back so each house in each contract as a different level or strategy that's going to be incorporated. I like to work with people who always want to see people cash out because we live in communities in our communities we go to churches and we go to school. Our kids go to schools and we go to the shopping center in the in that community. If you took somebody's heart owned of fifteen twenty thirty thousand dollar down payment and they were unable to cash out now. You see that person at Church next week or or so on you get the picture here you WanNa do. What's wholesome and right and good and feel good about it. There's a lot of ways in this business to make money And a very Unscrupulous way but if you do what's right would which right with your with your own ideolology excuse me I do. What's right with your own Integrity And follow and follow your your instinct of guides and get people cashed out. You're GONNA do so much better in this business because you'll be in it for the long run Well said again. It's one of those things where you do have Some investors who are do operate out of integrity and I've heard some of those stories in people purposely put intended buyers who they know will never qualify just to get a large downtime. Just move onto the next one Assets and IT'S. It's a very ugly thing to do and. I'm glad that I'm so glad that you touched on that. So make sure guys out there. You haven't even started yet. Make sure first off. You're learning this strategy from a reputable person we do teach over for the main dot com. You guys aren't more motivated. Sellers strategy more about owner financing tools in hotel lean. I'm Edwards before Dot Com Kinda driving up with the investor side of things so once the tenant buyer has gone through the entire process what what are some of the reports those reports for like an how. How long does it take to get those reports so that we can make our decision on talk? You buy the property. It's three to four days of the. The very unique report is that that didn't come ratio that we talked about because it's got spin buttons in it. It's the play in the perfect form in Microsoft. Excel where this whole was written. What if the Guy Score was seven? Seventy rather than four seventy. What if he brought in fifteen thousand rather than ten now? And you'RE GONNA love this one if the guy sitting here and he's paying fifteen hundred dollars a month for rent for the property but I figure out that the mortgage is going to be two thousand dollars a month. Whatever he cashes out at a four percent interest rate to three years from now based on the amount of money he put down and the taxes and insurance and so on that creates. What's called That's where you have payment shock. Okay so the guy is paying fifteen hundred now now. Sundays can be paying two thousand dollars twenty catches up interested. I think they're gonNA say is. How do we know that this person is going to be able to pay that? That payment shock is a strike against them. It doesn't mean that they're loans declined but to fix that. If they went through my program it would show in red that this is a payment shock. A potential payment shock problem. And I've gone back to people and said you know you're setting up. This tenant buyer for failure with this payment shock thing. You should be charging two thousand dollars a month and that people said you're right. Let me take a look at that and they go back to the bar and guess what the tenant buyer agrees and says no you I understand. I don't want this to be a stumbling block whenever we go to Get the house. Yes I'm willing to pay two thousand dollars a month. You should start charging it consultancy. How much did you make? That person asked the difference between but yeah you're right just understand what politics I mean. We when you when you're when you're setting your prices for for the actual renting part of the rental on a lot of times you are looking at market right. Looking at what other properties in the area are renting for. And you're you're wanting to be in that range but again if you're looking at the actual tending bars publications in what's going to get a mortgage ready if their mortgage is gonNA come out to two thousand dollars a month. Everything included and right. Now you charging the fifteen hundred dollars a month through Renton Process. Goes back to that shock like yes like that's what the mortgage mess with. The rents are in the area but again this doesn't match up to the image. That lenders needs to make sure that this message for them so that covered up very well very well said you wanted to set them up for success. I'm all along the way and see my wife and I were also real estate. Investors to so we kind of a third business poked in here the screening the credit appear on the real estate investor. So we understand all this stuff. We understand the nomenclature of this industry. We're not going to say anything that would mess up your deal. You know because we understand that you may not own. The property might just be controlling the property so when we address tenant buyers we say the person who sent you to us a person who controls the property not the owner of the property. Our won't be. We don't WanNA misrepresent things. It's almost like it's a family business. What are some of your goals can the near future? Where do you see your company in the next two or three five ten years? What's your what's your more. Menial while I'm sixty. I just turned sixty this past year so I don't want I don't want to be in this thing forever. I'd like to be out of this Within ten years so I would like to see my business dabble in two thousand and Twenty so we've that's all this software gearing up. That's what we're doing right now as you're up to be able to double. I think I'm trying to intentionally set my standards low because I wanNA see them I I want to be successful regardless so If you're talking about the data answer your question. Are you asking it more from a growth standpoint in terms of the size of the company that was perfect perfect and so I'm interested to see why you are so interested in this growth wise? All of your so. I don't think my lifestyle change too much if my business doubles I don't think that that's the major component thereof i. I'd like to be able to leave something to my children into my grandchildren. So I'd like to be able to when I say I want automation. We've spent a lot of time on automation air in the last couple of my last six months or so and So I want to be able to have to walk away and have it run itself. You are listening to the before the millions before the millions. Podcast just wanted to quickly jump in before I give Paul a chance to wrap up the episode for us. Look if you haven't yet signed up for the four keys to building a lifestyle business masterclass where I explained to exactly how you are going to profitably get started building your real estate business to create passive income for you meaning income for you every single month while simultaneously making you those large payouts getting those largest timing fees. If you're interested in building a business that does both of those for you at the same time then. Head over to before the millions dot com Ford slash master class. Okay so I'll see you on there. Prepare for a few surprises and a few bonuses as well. You know just talking to Paul. I realized that I needed to have a module at an entire lesson in my course to motivate a element that dedicated to his process. So not only recording this podcast themselves. But we're getting ready to create a whole module inside the motivated so limited but importantly hears that render discuss all of this on the masterclass. You'RE GONNA learn my strategy from beginning to end how I incorporate tenant buyers how we do all of this with none of our own cash credit a bank financing private investors experience education in the space yet. Because you'll get that education during the master class Just bring you. That's all right before the Mayans dot com forward slash masterclass. And now we'll have Paul. Wrap this episode up for US and folks. If you're not with somebody like d'auray if you're not with somebody you gotta get with somebody. You gotTa be around people who think the same way that where you WanNa be and people have been there and done that and think that you can bite it off and do it all by yourself by going to a couple of Rea- meetings That's a good start But RIA meters aren't GonNa get you all the way there you need to gravitate to somebody who's in this industry that you respect and has the knowledge and the tools to deliver the content to you For those people who sit there and have analysis paralysis Or die say that backwards paralysis by analysis I would encourage you to get out there and do something in and meet with people and talk with them and And make offers and and listen to the teachings of of Sharp. People's Industry liked to write that. Shell that we all want to just be able to snuggle up in and just be able to be safe inside our little shower and stay inside. Our little world You know when when you spread yourself of that little show and then the people that think the same way I call them the soothsayers of doom the people that don't think that you can succeed in their their to tell you how crazy you're thinking in order because you're to take your last two thousand dollars in invest it in some course You know those people need to. You need to step aside and think how. How much do I respect those same people that are going nine to five? You know the so you need to start thinking differently stinking thinking lease the more stinking thinking. You gotta get yourself out there and Take Chances Act Act Act. You know this. This do make mistakes by God. If you make a mistake the real growth is what you do with that information about about the mistake that you made even if it's going and taking your last two thousand dollars in buying a course because you bought the wrong or she got along with the wrong person. That's a mistake but that's a good mistake to make because you learn something now in the next time you scratch together. Three thousand bucks to go to the right person. So don't penalize yourself for the mistakes a patch on the back for taking that plunge or looking forward to partnering with you. We're looking forward to learning from you and we're looking forward to helping you in your ten of buyers accomplish goals because when you're successful poor successful.

Mr Paul Ritter Mike Derek Location Independent Ent Mr Hollywood Gina Lofton Doray MC Laubscher Heather Haven Yuki Bahrain Microsoft Mr Ron Legrand Biz Labatt
BTM 123: The Corporate Lie

Before the Millions

29:21 min | 1 year ago

BTM 123: The Corporate Lie

"This is the idea and you're listening to the before the millions podcast episode one twenty three check change you you ready to be the master architect of your life. Are you ready to design your business and invested needs that create the lifestyle. You've always dreamt up. Are you ready to learn earth 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 gina in a loft and i am an investor and you're listening to the before the millions podcast. My name is heather haven would marketing coach and global entrepreneur and you are listening to the before the millions podcast. Hey this is marcus crispy host of the seven minute men to podcast global entrepreneur and all round geek week and you are listening to the befall the millions podcasts. I am mc laubscher the cash lounge and you're listening to before the millions costs. You're listening to the before the a million's podcast 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 million spot cash it now your host to ray what is going on. People welcome to another episode of the before the millions podcasts super excited for this episode what is sort of one twenty three my goodness and this sodas all about the corporate lie where the professional life the rat race lie. I was told i don't know if you were told the same way but i was totally specific lie or maybe not a specific lie but i was given a specific type of dream and i wasn't allowed to think outside of those parameters so on today's show i will be be discussing along with matthew mr matthew outsell. I'll be discussing exactly what the corporate life is and what. I did to rid myself of that situation. We'll talk about exactly how you can get get the ball rolling in your real estate. Journey also talk about the fear the dante inge fear of failure but the fear of success and why it's more prominent than we know if you haven't already head over to instagram right now and let's connect. My instagram handle is derived d. a. r. a. y. O. l. a. l. e. y. E. and if it makes it easier for you head over to before the millions dot com forward slash instagram now again in this episode being interviewed by matthew. This episode actually came out of his podcasts a few hugh months ago and i'm now stealing this episode from matthew and planet for you guys listen because i think you guys can get a whole lot of value but if you like this episode go ahead and subscribe to matthews podcasts the real estate journeys podcasts and you can hear other journeys similar to mine but maybe these individuals are way further along than i am or maybe they have a completely lead different niche than me so they can give you different perspective and different insights on veer experiences right so that's why matthew has podcast the real estate journeys podcasts so oh guys without further ado let's just jump straight into the show empower the what's going on and everybody welcome back to real estate journeys the exclusive podcasts for new real estate investors looking to grow their brand and their business so as you guys know i always like to bring the most the value to the podcast here for you and on today's episode we have on d'auray lally. I hope i said that right right and i think i did but the ray is as successful real estate entrepreneur business coach and he is the host of the podcast before the millions he mentors overwhelmed and unfulfilled employees in the professional world through the process of creating and building lifestyle business the real estate investing so they can escape the rat race and live life of their design with that said. I'd like to jump into it the ray welcome to the show. Thank thank you matthew. I am excited to be on the show. <hes> super super excited that you can buy them. Hopefully can add some value to your listeners but yeah. I'm excited to be on a looking forward to the conversation question that we're about to have yeah yeah glad you're here for the people those people that don't know about you. Could you give us a little bit more about your real estate journey and how you became the man of the success that that you are. I love that man. Where do i start at so that yeah. Go ahead matt matthew. It's awesome so when i was younger i lived in a quaint quaint little house a three bedroom two bathroom with my mom and my little sister and my mom's best friend coincidentally lived across the street and she get older kids like i was. I know i'm the oldest of two and she had older kids to as well <hes> maybe about five to ten years older than me and the guy he loves. It's play sports and video games so whenever i went over to their house as play sports and video games what every once in a while his little sister we would connect and she would wanna play board games but you'd wanna play board game called monopoly. I know you guys have heard of it. I was fascinated with this guy. When i was first introduced monopoly i was like what is this is amazing. I could buy stuff and i can own things and this it's awesome right and i used to lose to her matt. I used to lose her all the time like it was it was frustrating. I was a little kid. She was older than me. She was always picking on me because like i couldn't beat her and i spent vent like months trying to master the game and i realized a few months in that there are certain key metrics that you want to look for certain things you kind of want to do in monopoly to become successful or give yourself better chances of winning and those things were to take up or to purchase the property with with board spices with the highest foot traffic. I thought that was interesting. I started purchasing railroads and started purchasing some of the higher end properties in with that strategy ritchie. I started kicking her but and fast forward twenty years. I i still kinda use estrogen here today but that was kind of my i worry a and so it's just something that can kinda in a bite my teeth and so fast forward a few years i mean i'm graduating high school. You know i get the usual. Hey go get a job. Make sure you study hard and get a good degree agree and so on and so forth i had i had no idea what i wanted to do. I had been in a few gifted and talented class. I was primed quote unquote to become a success but at the same time upon graduating. I had no clue what success meant to me. I had no clue what's accessible to my family had no clue what direction go to hit the success excessive. Everybody thought that i was gonna guess man like that's a lot of pressure. You know to to kind of grow. I mean he's gotta. Do the protege like what what is a protege in. How do i do it. I don't know exactly i was terrified. I was just like i kind of started playing it safe house like well. What's the safest way to make sure that even if i suck at life like i could still be okay. I was getting numbers and just like well. Could it numbers what's natural at eighteen good in numbers. Okay let me go study accounting so i went to college and i majored in accounting and i didn't know anything about the accounting so i so i asked people like hey. What what do i do. How do i how do i make life for myself. How do i become a success okay this. This is what you do you go and you work doc for one of these firms to call it the one of the big four county firms and if you work for one of those firms that's like the harvard or the princeton other gales accounting firms and if you worked one of those firms you give them about ten to twelve years. Maybe fifteen years of your time they'll make you what is called a partner so that you buy into the company and at that point you're making about half a million dollars a year. I was like okay. That sounds successful. That sounds sounds like somebody's dream job like. That sounds like an amazing way to go. I said why back so for the next few years that i worked my butt off in college and not necessarily surly with grades but <hes> becoming a community leader building-up organizations from scratch <hes> joining the boards of a ton of different organizations to our super well rounded and i achieved my dream mind she my goal got an offer from one of these big four accounting firms and it was like the most exhilarating thing in life in that industry in that space and i was like i got it made now like i'm good agnes. I okay like killing exactly. I know what life is all about my first year in matthew my first year in everything that everybody told me i realized why i realized that i was working eighty hours a week some weeks. I was travelling in traveling towns when i love of traveling. I think you love traveling as well traveling amazing like i've spent all my lifetime limits what i wanna do the rest of my life but this wasn't the type of travel. I thought it was going to be i'd. I'd be sitting on my couch saturday or sunday afternoon. I'd get an email or call from my manager saying hey we gotta go to san francisco for the next three weeks. Pack up. We gotta be there by monday. I'm just like well. I got weddings weddings and anniversaries and things go to like. I have a life here like you can't just okay. Whatever i gotta go so and then you would go to these places. You'd think like hey like i'm willing to san francisco right. I'm from in houston texas. I'm going to san francisco beautiful city. I love san fran mike anytime i'm able to go to san fran like i'm getting on the plane right but when i was working there i was never really in san francisco. I remember i was out therefore three week stint. It was like you again. You leave the leave. The airplane and those entire like i'm working seven. Maybe eight a._m. In the morning morning so about one two a._m. A lot of nights and this is monday through friday saturday working maybe nine a._m. To about six pm sunday. We're we're working. Maybe nine a._m. About about three three p._m. Right so you're working seven days a week. I don't see the sun so i don't even experience san francisco so i'm literally like this is not the dream. This is not what they told me this would be. I'm working year round for a client. Think about the position. I mean i'm. I'm a big four accounting. I'm contracting out to different clients right so don't shut out to these clients. All i see numbers on a spreadsheet. I don't know what that company is about. I don't really know what they're doing and i'm just looking at numbers and i'm trying to push numbers here and there the impact that i'm making in in the world. I'm not readily able to see that like you know. It's just like this is this is kind of pushing the needle and it's giving me paychecks so real impact right and then the amount amount of money hours receiving for them out of work i was doing was like well. This is my first full time job. Half of this money is when to the government in the form of taxes i didn't i didn't know that they took out too much money from our checks. Yeah i had no idea literally they look at your check and say okay. We'll take half. That's crazy so i mean i i think about you know the fact that we're paying almost fifty percent in taxes and you know this these taxes coming out of your check these are i mean even sales tax. There's so many taxes that were unaware of and i i think about the fact that i'm working from january to joan to pay taxes literally. I'm working from july to december to pay the bank right so i just graduated from college about ten of student. Loans got car notes. You got mortgages. If you don't have a mortgage you have rant. You have all these bills and bills credit card bills. All these bills goes to the bank so the first half of lear. I'm working to pay uncle sam in the second half of the we're going to pay the bank and the whole year for client and i'm not really getting fulfilled. I'm not really making an impact so at the end of a year. What do i have for myself had nothing so again my first year as a full time employee. This is crazy. I never want to grow up. I don't want to be an adult whereas whereas never never land. I need to be peter. Pan this this this woman when they see <hes> and i don't know i call her my guardian angel. It's almost like see-saw pain within me like again. You may feel as though and the people have been in way worse positions and they've done i mean i i've seen people come to this country with nothing and they've been able to succeed but for me and i was. I thought that was like hell. Ah eighty hours a week like literally all they do a status matt. They bribe's with food. We eat from sunup to sundown and as an accountant you gain so much unhealthy wasted. There's just so much. I was not okay with but anyways. She has me this book and she tells me hey dirty. I don't know why but something's just telling me that i tell you to read this book and was a little purple book as you know it's called report and that was my life's changed. That was the day my life changed <hes> i. I don't know if you want to kind of keep going or if you have any question interject but that was literally the day my life changed <hes>. Where do you go from there so after that you read this book and how long long before you got into your first real estate property. Did you continue to stay at that big four firm for a couple more years. Or how long did you say there. After after you've read that i read the book in april of twenty sixteen and i had no prior experience as an investor. I'd never brought a single property. I didn't know no what investments were. I didn't anything people have this misconception about accountants and auditors and c._p._a.'s about how vaster knowledge is and how much they know about taxes. And how much can i mean they just people here in the county and they believe that we know every single thing about everything and we don't <hes>. I didn't know anything so i read this book and thirty days later i purchased my first investment property three to fifteen hundred dollars a month and one thing i did know at that time one thing i thank myself. Having a forty suits knows that most people don't take action. Most people will never take action. The longer that you wait to take action decreases the likelihood that you'll take that action so when i read that book i was just like you know most most supposed to read a book and what are we going to a seminar. All this is amazing. You know you leave at three day seminar and he was just like i do like i just learned so much. I can't wait to go home and implement these things monday. Comes around your back in your hometown on your backing home city. You're backing your environment and your back to your old ways. I didn't want that to happen. I think it's really a beautiful thing kind of what you're saying and i'm glad you shared your story and i think that people do you think about it. Nobody really knows anything. Let's say you see a pretty girl at the bar. You know you come up with these. Things in your head like she already has a boyfriend like she doesn't want i. She doesn't want me like oh. I can't do this like i can't do that. Then you build up this fear or like all those guys are c._p._a. Yea like they already. They already know everything and then you're like you. Are the and you're like dude. Adult even know what i'm doing work at a big four firm and my friends are looking at me lake aac they want me to do their taxes and i'm like up. Please god do not ask me because i do not know what i'm doing and you know what i'm saying that you see other successful real estate investors investors or you see someone and you think oh man like they're killing it like nobody and then you compare your day one results to somebody's day twenty results and i think that's one of the things like the podcast and real estate investing as well as like dude. Sometimes i still feel like i'm like i don't know anything. I don't look just trying to get people on the show and like doc. Let them preach knowledge does that does that make sense yet. No no you are spot on my man. I think it's one of those things where and that's literally the thing matt through that separates the haves and the have nots a separate the go-getters from the people who are just kinda stand around. I think that most of us we look at everybody else's the situation and we're like well. We don't have this so we can get started. Are we didn't come from this. We can't get started and if we only knew right why you're never supposed to judge a book by its covering various up to this what if we only knew so even in this podcast sea world. It's weird but i don't listen to a ton of real estate podcast. I listen to users amazing by the way every listener on this listening right now. This is amazing podcast. I listen to episodes and i it's phenomenal but i don't listen to a real estate podcast because i don't ever want to get in a place where <hes> <hes> first and foremost i'm thinking like man like my podcast is not living up to the standard or i'm not doing this or i could be doing this. I don't ever wanna play this. I don't wanna play that guessing the game. I wanna naturally go where i think i have a natural inclination to want to help and be able to providing safe and where i see value so i totally get that but the best thing that you can do is run your own race to block out a lot out of those other things and not be scared of the unknown right <hes> when i first got started in real estate. I knew that i was actually prepared matthew. I was prepared to have a terrible. I feel like i'm going to feel so bad but it's going to be so fun ready to lose it up ready to lose here. We're gonna lose. Take back we also. I was like house like no college education. I mean this is tuition. This is tuition. I was like giddy so that was my mindset so that was my mindset and you go forward with them and say yes. You're gonna make mistakes but and most people never make those mistakes because they don't wanna make those mistakes but they never get off the fence. They never get a chance to make those mistakes because that fear <hes> so. I think that just kind of moving forward again and i call it. Probably i think there's a ton of people at this way but it's ready fire aim rather than ready aim fire. Yeah i think pushing forward you know now is he. Dolan resistance. You really have is yourself right. You think like the government's gonna slow you down or the taxes or these are all things that you know maybe society or other real estate investors or podcasts or this resistance is something that you just kind of formulate your head and you're like oh you know in order to be successful the <hes> i i probably need to fail at five so i'm ready to lose my money on this. I deal like here you go and it's like oh no actually like kind of did good and i love you know like i think it's important for people to hear that because i think a lot of people when they are trying to do there for steel or they're trying into <hes> you know get into real estate and they think like where do i even begin like just go. You know go to a meet up. Sit in the back of a room you. You did something right like you got the ball rolling like go grab. Some flyers. Go oxen properties. You don't have to purchase them like things. Don't happen overnight. You know you're a testament to that. It wasn't just like you're like oh today. I'm going to be a real estate investor. You had to go through the heartache and the pain of being on the big big four accounting firm you you know you had to have some hardships. Lead you to the path that you're on now so it's really beautiful thing. I love that and i think about kind of what i know a little bit. I know about your journey your story. I mean you didn't go to those meet ups. You didn't not start participating in places where you could see value even add value. You thought hey i mean you took it. One step further. You started a podcast right again. I what i know about your stories. This is something that that helped you get into the real estate space or is it the other way around getting into the commercial side. So what i did was is so currently i'm living in chiang mai thailand and i wanted to. I hear you know meet up. Meet up meet up and i'm like i'm trying to make some moves but i'm live in halfway around the world so i created a virtual meet up on bigger pockets and i had about eight members through people throughout the united states and i was like the the host or which i want to call the host the leader whatever you wanna call it the hosted leader of the virtual meet up we had it for like two months and then one lady reached out to me and we started like connecting and she plugged me with omar boardwalk where i'm at right now and so when i opened up my isn't isn't that crazy yeah yeah taking a step back from that right there. That is exactly what you're talking about that action action that you took to start that up i mean that's that's a beautiful in voting yeah a literally think about one of the reasons why i wanted to create this podcast it was like i want people to listen to this literally and i want them to say like deray matthew like listen our story simulate. I am in denver colorado looking to get in in real estate like i have no excuses not to be jumping into real estate. You know like these guys like had feared. They jumped into it once halfway around the world there jumped into it. I think if people really start reassessing their value like people actually have value when people say add value. You're like a lot. I don't oh have anything like well. I'll do actually you have a lot of networks like people can use some capital or people could use some of your own money. You people can use emma your business acumen. You know there's always something that you can bring and i think he wanted to get into real estate. There will be a way for you to get in there. Yeah yeah for sure i couldn't. I couldn't say better <hes> <hes> one of the things that hold people back is that fair failure right but also people people don't realize that a lot of people actually have a fair success and this is something that has been kind of instilled in us in early age fear of standing out of fear of being different right. Most people are not realistic investors. Most people are not entrepreneurs. Here's the minute you start doing something different. Your family your friends. Everybody's gonna look at you different. They're gonna see you on different light or they're gonna see that. You're changing and you're going to get a lot of feedback. There's a lot wayne on you when it comes to well i wanna take stuff. I wanna be different. Wanna try something new but i'm scared and it's not that you're scared. You're gonna fail but you're scared. You're going to be different. You're scared that you're gonna be viewed different. You're scared that people are gonna and i think you're you're changing but for me about mindset and awareness right be- being aware of who you are what you have to offer being aware of what's holding you back some of the blocks some of the beliefs that you've grown up with and if we start becoming more aware and more cognizant of some of the things somewhere about limiting even even around money right i mean many of us grew up with limiting beliefs around money and and able to do for us and our value of it right <hes> if we start breaking now some of those beer years. I think we'll be all the better for a going back to the fair. <hes> fear of success money is a prime indicator feud not where you are financially where you want to be financially. You may have a fair success. We'll take a look in the mirror evaluating some of your lifestyle decisions and start evaluating. Somebody the thought processes around money looking at your bank account alone some people. They don't even open up their bank accounts because they're fearful of what they may see. I mean it's their right. It's not gonna change whether or not you log in but some people cannot physically log into their bank accounts because they're fearful of what they may see so you have to start uncovering some of those hidden beliefs love love it. I'm gonna ask you one more question before we close it out. No one wanted to play game with. What aware is your real estate journey ten years from now. I want you to think as big as possible and i don't even know if you have a ten year vision of this far out but i want you to go crazy roese with it and there's nothing there's no wrong answer. I want to hear the craziest. Most ill conceived nastiest idea of you you in ten years with your real estate man. That's the that's the bomb at the n._f._l. If i share this with you promise you won't sell any a single other person. I promise tally up tweeting right now right now. Goes are are pretty. Significant does even have to be a goal. I want i want like he's nasty like i won't won't be on like a flying orbiting hotel around mars where mercury one. I want something i want. I want to hear something crazy from you. Know kind of take a step back from a question but what what's crazy and you may be you may be able to attest to this. What's crazy. Especially most of us in western civilization is that we believe that we need a whole lot more than we actually do to live a life. You know <hes> it's very easy <music>. Even though it's very hard it's probably the hardest thing to do but it's very easy to aim to build a big business and that's something that a lot of people that start getting into the space would wanna do and i take a slightly different approach in that. I'm not opposed to big business. I'm not ever gonna be like well. You know there's absolutely that comes by oh no. I can't do big business like that's that's. It's not what i'm opposed to but what i'm what i am for is lifestyle design. That's what i like to promote and that's what i like to help people achieve right and you can and i've seen people who they make fifty grand a year and they travel the world and they're loving life in there in places like chiang mai and they're taking advantage arbitrage and they're they're living quote unquote. The drain came off a fifty grand a year. They can be any happier. They have everything that they want and the not have clients who make two three hundred four hundred grand a year and every every month they're making cat goes to see if they have two cars to have a big house payment and they're struggling. They hate their lives and they feel like they're poor. They can't they can't do anything so so i think about those two different economies and people have totally different lifestyles and you see it's working out for some people who are waking me way less. We're gonna not working or making way more so for me personally. It's about lifestyle design. It's about creating your ultimate. Vision is about creating ultimate lifestyle. I love to travel. I want to be able to go on six six months sabbaticals. I wanna be able to merge myself in culture and really just just take in that experience so two three four ten years down the line. I'm literally traveling traveling the world. I'm learning about new places a meeting people. I'm exploring. I'm i'm quote unquote. Digital nomad like that is that is my for myself in that as a dream for a lot of the people that are in my camp and i think that it's terrible. It's very cheap right. You don't need to hit the sixers mark. You don't need to hit the serb seven-figure mark. It's so achievable now in the digital age more than ever and and once you do have your life is quote unquote. Won't you are the master of your time. You can then log onto some of those bigger and better goals because you control everything that goes in and out of your life. I think that's a better place to scale from than trying to scale from well. I'm trying to leave my full time job and i'm trying to do x y and z in the next few years and i need x. Y. insane amount of money and you you know there's a lot that goes with that. I i've had ton of experiences to where i was like. Do i build a big business. Do i keep it small and in house and do i facilitate growth naturally like i've had this battle for the past few years but i know personally i go back to my core beliefs in my goals and my wants my this is what i want for myself and what i want for my community and its lifestyle design the but everything and then we can scale and let's see what we can offer from there. I love that that's beautiful. That's beautiful so glad to be talking to you. This regime shine to ray. Hello very good very good very good all right. Let's go to that with <hes> closing three questions so first question. What is your favorite book tour gift. You're gonna love this one. <hes> <hes> four hour workweek is my favorite but cans down in the world. It is almost the bible <hes> in in terms of a lifestyle design automation and scaling good question two. If you were to give a ted talk what would be on why the hard questions man. If i were to give a ted talk what would it be on it would probably focus a whole whole lot around mindset and our belief systems i think about my three most popular talks or webinars and it's my first one is overcoming spirits around fear. <hes> another one is entrepreneurial a._d._d. Our shiny object syndrome and another one is <hes> just basically time management and getting focused not only to help first time investors kind of help them build their system but also experienced investors will have their system downtown but they're trying to figure out well. Let's email marketing. What's convert q. What's my perfect audience. Snow things like that. I think those things are really important. So if i were to give a speech it would literally be around what will actually change my answer. Would you give a speech. I would be about the future of online business. Oh yeah we could get down to <hes> to real estate in in that sector but the future of online business how to build up a online real estate business. That's firemen awesome. I third question what is it pain point or weakness as right now in your business finding good help finding good hope i think that there there are a ton of contractors are ton of you know different resources to outsource different things whether it's in my real estate business or my <hes> educational business but <hes> it's not often that you find it helps when you do find good help. I suggest that you pay them well. In you. Hold on for dear life love it all right and i believe we we have <hes> we always like to be i in value back to audience and i believe we have a webinar your webinar coming up. Is that correct. Just yes i do. I have a webinar coming up. <hes> you guys. Let's go over to before the millions dot com for slash webinar and again some of these same things that matt you and i have talked about you know a building up your real estate system. If you haven't get jumped into real estate is something that i talk about immensely on this webinar show you guys how i built my system and if you had built up your system now you're trying to build up your real estate business around that will say system so the normal components of a business that you don't get have especially as it pertains to online business. I'm talking about those things as well so you could head over to before the main dot com for slash weapon are and and i'll be giving you my key to life out design bom. What's the best way to get a hold of you. Just email me or connect with me on instagram. I think we both have instagram. That's your platform via so yeah. My name is daryl allow. Iaea first name is d. A. r. a. last name is o. L. a. l. e. y. So my instagram handles derailed elliott and if it makes it easier for you just head over to before the man's dot com slash last instarem and it'll go straight to my instagram page bom love it. Thank you very much ready for being on the show. I no i appreciate having you on here in your story and your mindset and everything behind it. It's very inspirational and you know we'll catch the next go around my friend. We'll stand tot awesome matt. Thank you for having me on. Thank you for the service providing to this this community. I mean again. There are a ton of investors out there but how many of us are really how many of us really have this. Give back component. How many people are waking up at four or five a._m. In the morning to get contin out to the i mean you guys should be thanking you right now. He's what time is it. What time is it right now. You're saying five thirty eight a._m. This is for you guys. This is for you. Guys is <hes> matthew's been amazing. I thank you for having me on and hopefully hopefully i've added some value to your listeners. Love your greg case.

millions instagram matt matthew matthew mr matthew outsell Mr hollywood heather haven san francisco harvard gina houston hugh chiang mai texas matthews community leader
BTM 168: Utilizing Napoleon Hills Think & Grow Rich Success Principles

Before the Millions

52:06 min | Last month

BTM 168: Utilizing Napoleon Hills Think & Grow Rich Success Principles

"Vis is derived. And, you're listening to the before the millions podcast episode one, Sixty, eight. Are you ready to be the master architect of Your Life? Are you ready to design Your Business and invested needs that create the lifestyle you've always dreamt up? Are you ready to learn from entrepreneurs and millionaires who achieved a certain level of success? Hey, this is Derek Location Independent entrepreneur and you're listening to the before the millions podcast I. Am Gina Lofton. I am 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 millions podcast. Hey, this marcus crispy, the host of the seven minute mental podcast, Global Entrepreneur and all round Geek and you listen to the before the millions podcasts. I am MC. Laubscher. The Cash Linenger and you're listening to before the million spot costs you're listening to the before the millions podcast a whether you're looking to invest were cash flow or 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, Array. Is going on people welcome back tway brand new installment of the before the millions podcast. On this installment, we're talking specifically about utilizing Napoleon Hill's think and grow rich success concepts. Now before you're like derail, I'm not until that spiritual will stuff and you know I like numbers and facts and I live in the real world. I WanNa to let you know that I am as analytical as they come. Mean Heck I majored in accounting of all majors. Type of the core. And the AD business decisions are largely due to the metrics that were looking at on a daily basis. So again, I'm as analytical as they come but what I've discovered. Is that technical expertise. Being Super Analytical. Nuts and bolts knowing every single step of process does not guarantee you success. How many of us have a good idea on how to buy a house have a good idea on. How to get started invest in real estate. How many of US could figure out how to go buy some stocks tomorrow? I mean, it's it's easily attainable trite the're but. S, knowing how to buy stock doesn't quite US being successful? US becoming wealthy does it Out there was more to this. And that's where I really stumbled down the long rabbit hole of personal development back in two thousand sixteen. I started reading thirty, forty, fifty a year this book I read thinking by rich I absolutely hated it. You. Gas Everybody. I've talked to I was like this book terrible. But by the second and third time I read this book. Of coming from a little bit of a different pradeep. Add matured a little bit. I was in a new space at new ideas had a very different perspective. So when I ready. The second time moves magical. As, Oh my goodness, this guy's amazing I gotTA. Ask. A steady this thing. So I'm not going to harp on it here too much in the intro because I talk about it a whole lot in the episode. I want you to know that ultimately to get to our success goals. It's not just having the technical expertise. It's not just knowing our numbers. It's not just being super analytical being data driven. There is a mindset aspect to success and. Just because the mind is a little bit more abstract than numbers on paper doesn't mean that there aren't steps that you can follow to achieve your goals and dreams. So we're going to break down these concepts steps here. Today on this episode and episode is actually a recast of an interview that I did on someone else's show. So you may have listened to episode one, Sixty, one of this podcast. Titled Are Your Cooler closer or cleaner, but coming relentless with Mr. Logan Freeman. And if you have listened to that episode, we'll you know how fire that episode is and how much we dive into the differences between the successful and the unsuccessful cleaners and the closers and the coolers. So few weeks after that logging, invited me to his podcast to talk a little bit more about the mindset. But not again from an abstract point of view to actually break down in detail what we can do right and it's been so. Ambiguous. The actual steps to cultivate the right mindset to get to success. Until today's episode. Strap in. And get ready to be open minded because that's what it's GonNa take. Strap in and get rid to be vulnerable in. So since I, wanted this to be more a lifelong thing from. Yeah. Started this this challenge, the stinking grow rich challenge. I've talked about few times of the past few episodes or document the new cash lows in our business. Talk about what's working, what's not working and what we're doing to our goals, highlight all of our revenue streams and with each daily post I write about a concept that I'm applying from the thinking which book. So after thirty days, it's almost like you have an entire summary of the book and how why a pilot principles in that book as well as a breakdown of what we're. Doing in the business at that current time right now, the only way that you could get access to this child Lynch is if you've registered for our five K in thirty day challenge, which is a completely different challenge for the listeners of this show and the followers of the community. So if you're already registered for that challenge, then you'll have access to my personal thinking grow rich challenge. So on the actual episode Logan I'll tell you whether or not a hit my initial goal my initial thirty day. Go for the first. thinking. Gorge challenging yes. I said I because. Just to let you guys know now it was so powerful. So powerful that I was like dude, I gotTa do this again. What stop me from continuing to do this over and over and over and over and over again, expanding further faster. Right. So again, if you want to keep up with this journey, please tapping before the man's dot com forward slash five K so I continue to document the process you'll continue to be able to follow along on the journey right now. Again, the only way that you can do that is by registering for the five km thirty day challenge. In a future episode I'll have a totally separate, totally different landing page for. Those of you who just want to follow along on this really lifelong thinking Roerich talent that I'm partaking in. So we'll have more details to come on that but for those of you who are interested in getting your first dealing contract starting to flip a few assignments getting five ten, fifteen Kanye packet in the next thirty days head over to before the millions dot com slash five K, and again as an added bonus, you're GONNA get access to my entire thinking which thirty day challenge you are listening to the before the millions. Before, the millions podcast this episode is brought to you by lifestyle notary DOT com. Everyone knows that you go to the bank to get your documents notarized and oftentimes disservice free by your banker. Alternatively, you can go to those standalone notaries where you'll pay anywhere from one to three dollars per signature. And to the naked eye, this business model doesn't boast big checks or lifestyle design. But here's what most people don't know when you perform a mobile notary service, a mobile fingerprinting service or a mobile postal service, and you get paid anywhere from seventy five to two hundred dollars even three hundred dollars per appointment and these appointments lasts anywhere from ten to forty five minutes. And this isn't fake I tested and proven this going on a few appointments and making five hundred dollars before. It's just one of the industry's best kept secrets and in a matter of weeks, you can pass them rather simple exams be up and running and get your first paid appointment. So flexibility and income this can be a gig where you choose to go wall in and scale in create six figure income or it can just be something that you decide to do on the side and your free time and just make a few extra grand every now and again or every month or so. It's that flexible but you choose the jobs that you want and you opt out of the once they don't fit your schedule. I've had MSN students using this second stream to fuel their investment portfolio flawlessly, and now you can download my checklist where I highlight the entire process and give you all the resources to get started over at lifestyle notary dot com. That's lifestyle notary dot com, and if you're a NEWBIE investor and you're looking for some side, come that doesn't take your. Eye off the ball. But further ingrains, your contacts and your knowledge in the real estate industry while getting paid. Then head over to lifestyle notary DOT COM and download my checklist today Oh and if you have a heavy duty printer, you're start up costs for this hustle were run you for less than one hundred and fifty dollars. Can you say mind blown? LIFESTYLE NOTARY DOT COM. And now your feature presentation. Hey, guys and gals it's Logan. Freeman and this is the live free investor's podcasts where I interview investors in business owners who share investment advice. So you too can live free today I'm talking to my man, array. dray. In a few sentences, tell us who you are in what you do. Yes, sir. I. Am a Real Entrepreneur Logan and I really appreciate you having me on the show I helped a first time investors I helped early on investors investors really get the ball rolling start to build a portfolio, create a consistent stream of incumbent. W. Two. Nine to five job. So that is what I do in a nutshell have a few other businesses that I. That I that I run as well but. That is a of it. That is awesome. Clear, concise, and compelling. So I work with a lot of first timers as well. I'm curious man. So what do you think the number one roadblock is that people have from taking the leap and getting started and then we'll dive into how you help folks kind of get over that Hump. But what is that for the biggest challenge? I think it's clarity. The I think that. Many of us have heard over the years that you know ninety percent of billionaires have built their wealth through real estate. Many of us have heard to buy income generating assets. Many of us have read a Popular Rich Poor Dad book. But. Many of us are not investors many of us are not location in entrepreneurs. Many of us have not built businesses that support our lifestyles, our families, right. So where's the disconnect and I don't think that. Disconnect is not having information right? I mean we have it's visible you and I were on these casts and we're doing we're trying trying to you know get things like this out here but I think it's just really clearly a lot of people come out of the gate. Or don't really come the guy because they don't understand where to start Yep. So. You think about the average, you know the average strategy that's out there. You you get all these ads until you get to where you can fix clip you can also you can become a syndicator you can passively invest. You can mess land. Why don't you buy? Not Why don't you owner finance right I mean. Bottom line is all these vehicles they make money all these strategies that make money right some a little bit more than others some in Marcus as opposed to others but. You'll find a millionaire pursuing every single night. These strategies. Yeah. I told you. So I WANNA when when when it comes to clarity. I like to take the onus off of the strategy for us. You want against real estate coal you want to go generational wealth coal but but let's take the honest off of strategy that you're looking for. Let's be honest on you and figure out. How to reverse engineer the whole thing. So we'll start with what you want out of life. Start with when you want to buy your. Right, and then we'll start to look at a vehicle that possibly get you there in a Lotta time and with the resources that you have. Right. So again, it's just Going internal instead of external, trying to find answers and that's why that's why I think a lot of people are messing up when they first started. A confused mind never makes a decision right and unclarity I love that answer because when you're uncertain about anything in life, you're not going to move and if you do move, it's because fight or flight right? I hate decisions being made based off of that response fight or flight you know the biggest issues challenges I've ever created for myself were making decisions without being intentional about what I was trying to accomplish so. Clarity. So important I've been hot on this this idea in model of Iki guy for quite some time right? It's this intersection. It's been diagram of what you can get paid for what the world needs, what your greatest strength is and what your passion is in the middle of that is this kind of like the sweet spot right and so I love how you take consultation approach when you're talking with somebody say let's Can you define onus for US derived please. Take an on your accent yes. Can you can you define that word? How do you spell I'm always learning I have a word of the day come to my email but I have not had anybody used that. So break that down forced before. I, go. I just I just think it's a I mean a synonym for that word. I would say this responsibility. Okay. All right. Cool. So you take responsibility right in in in put the responsibility on yourself go introspective. So you can get some perspective and so many times people are trying to look at what they should do by what other folks are doing, and that's not necessarily the right path because that person. Might have been doing it for twenty years. They have a different skill set. You don't know they might have a trust fund funding all of their stuff, and they might actually not be having any success and might just be just taking money from one account and buying something in another. You know. So be careful about comparing yourself to somebody go introspective and and really start there to get that clarity man that's. That's went fantastic. That's GONNA. Roll. Into our second question I'm not gonNA. Let you use. Or or actually my fourth question I'm not GonNa let you use that answer for my fourth question, but it would have been a perfect one. So I'm going to pull out as much as I can from you today. But before we do that, what's the best thing about being an investor and business owner? Man I love this question because you know I, it's. It's really hit home for me I think that. For. A lot of our initial goal is money oriented sure and for good reason, right? We were discontent. We actually, Hey, you know where we are or we know there's a better way or we want more freedom whatever it is but. For me. The absolute number one motivator to become an entrepreneur become a business owner has been lifestyle design. Yes. Love it. and. As as a child growing up I remember before the age of two had been the three consonants live. Don't they consonants worn a house in? Massachusetts Yeah I was born in Boston. Within six weeks. My mom was a single single mother raising me. She she. She was struggling immigrant here in America to really find her balancing. So she sent me. She sent me to live with her parents back home in Nigeria. Intern sent me to liberate her sister in London in the UK and brought me back around the edge of four. Even from there was a struggling struggling, struggling struggling entrepreneur mission, become a struggling moderate budding entrepreneur, and then she became a super successful entrepreneur s. she went right back the struggling entrepreneur rollercoaster. So. Every single year I was going to a different school. I. Started Out in private school first year not went to a public school then. I. Would. I would transfer. So again, I'm consistently in new environments every single day of my life I'm great at making friends sure but long-term long lasting relationships has always been my best but I bring that to say that. When I got to corporate America. We're skipping I think we're skipping a whole bunch of should I go back and ask me later. But when I got corporate America started working for a big four accounting firm. The minute I got got realized that all of my freedom is taken away. I look at the year before I went into corporate and when these firms make you offers they ask you what you want your starting. They presume that it's going to be the next three to six months. Like I said in the next year and a half. What do you mean? What do you mean? We can't we can't wait that long and whatever else I need a year to travel like I'm a I'm a free spirit. I'm a bird I liked to explore like to be in different countries go on sabbaticals like that's just who I am. I'm meteoroid luckily, granite bet for me by as soon as I got bear some got back and I got into the system I realized how restricted I was. I realized that I had. Get this Logan. At eighteen days of vacation in a three, hundred, sixty, five day year. I said Oh this is. Not The life patch for me. I realized that very quickly. So answering the question, it's for me. It's always been about the freedom in lifestyle. Absolutely I, love that answer. Thank you for the background that was fantastic and you know. It's interesting about the vacation piece because. My wife is always like well, Wendy. You want to go do this and Windy WanNa go do that. I'm like, let's go to Hawaii for month you know like what are we waiting on and it's a little harder with two kids now and. The same thing is like having the ability just to do that is is incredible and It's funny I I think I'd probably told you this on your show the day I was fired was the most freeing day that I have ever felt in my life. I felt like I had control and I could make you know my new destiny come true in at least be the owner of my schedule, which was so so important. So thank you for sharing that man. Okay. There's a lot of things going on this year. Right? We were talking about this how? This has been an interesting year. You know one way or the other it's been very interesting and so keeping up to date on current trends and opportunities can be a challenge especially when you're trying to break through the noise and really get to what is really you know important. So tell your thoughts how you've overcome that and how you stay up to date on a regular basis. Man That's a that's a can right there. Stand up date is pretty is pretty easy because of social media I don't know if that's the best form of staying up to date but I read a book once a believe, it wasn't the four hour work week. Where the author of the book described. Keeping up with the news a something that. You could do once a year. Once every few years and you wouldn't really miss out on a whole Lau I haven't thought about that. And I mean you you know as well as I do in most of the people out there is that. These headlines and what the news portrays is Click Bait right is to get more clicks, more views, more revenue and often times. It taints our judgment of. Perspective. Right like nothing but bad in the news because that's what gets clicks you don't see all the good in the world. I WanNa I. WanNa talk the Kobe because I think that. My heart goes out to everybody WHO's been affected by One hundred percents been absolutely insane just to see like the death rate in things that are. That are getting and absolute. It's just been mined brine. But at the same time, we can even have money conversation slow about this because this is something I've been I've been really lightly but at the same time. This. This moment in time twenty, twenty has been gift. On so many levels. Like Kobe in some in some instances, this is how I'm choosing look again it's my viewpoint were right in a lot of people have a different viewpoint. In some instances in so much more opportunity than I could ever imagine I. Coming from a health perspective I'm I'm. Geared towards the type of person who's more OCD than the average individual. And the fact that everybody now has to be more health conscious oh my goodness. Absolutely. Makes me so happy you're it makes me so happy. I agree. The extreme measures were taking to look after each other is absolutely amazing. Let's talk about business. The opportunity in the online space has been absolutely mind blown. Like. Again, there's been a lot of bad but what are you? What are you chosen to focus on? There's a there's a, there's a life coach by the name of steel. Off You know her. She was on a podcast recently and she was talking about a life coaching business. And any business really put your business, my business, and same I and. Because of how we view our business. Without Stat our business are going to produce. So. Brooke has this mindset what she says I've met in a life coaching businesses on fire. During Koga during the pandemic whereas some of her friends are like. It's called it. It's a pandemic I'm losing all my clients, what the heck is going on. Her Mindset is life coaching business songfire who's right. Before I get into talk about the stock market. You can have two different people look at the same exact in the stock market. To different people look a bit were in the biggest crisis had been in a long time. And? While the you look stock market live man like this actually sinuses this is bad like. I've lost fifty to seventy percent on the value of all my stocks on pulling out. This is terrible. Everything's like you know everything's everything. I just gotTa to get out of everything this just absolutely insane I don't know what to do. I'm not support myself I don't know like there's so many worries that a lot of people have and you see it in. You're. Absolutely, I look I look stock slogan still same exact stocks. And I could like. Wow. What an incredible bargain What an incredible deal? What an incredible opportunity. Absolutely. We're living in the same world, but it's all about arts perspective it is. hoped that analogy really hits home for a lot of us because again during these times, it's about how we're looking at things. Yeah. Now I'm curious because you probably talk with agree with you you probably talk with a lot of folks. I'm the guy over here email emailing my financial planner right now saying, Hey, grab grab another hundred shares of apple you know. I mean your lines airlines do you think people refine and five years? You think it's going to be worth more than it is now yeah. That's an opportunity. Right same things but like I'm curious. So with all that being said, we're both optimistic people and. make good decisions or at least have seemed to make make good decisions on a regular basis if somebody was struggling and they are struggling to just feel like they're surviving right now what what is some advice that you can? You can help them to to kind of get past that because I have A. You know I have kind of a mantra that I try to help folks understand what their biggest roadblock is neutralize that, and then they can go do more but you know it's hard for people to see pass that one big road block right in their face. But if if maybe somebody who lost their job, maybe if somebody is down and out and they are negative, right? Now how you pulled some of your clients up man during this period of time and help them get that perspective because I think you and I work on a daily basis to have that perspective. But I'm curious maybe somebody who doesn't You know I'm just thinking about some of my close people in my life that I would love to Kinda send this episode to afterwards and Share some advice may be that you've you found to be helpful with some of your clients that maybe they're down and out in their get out of that Rut of the can't see past a man, how do you help somebody get past that? Greg question great question and so why I mean I? I. Don't know if I told you I'm trying to get a free coaching session here man. I love just GONNA use it to get some some of my main raise time man to download that knowledge. Look. I do the same thing and if if the listeners of the show know how much value chopped on my podcast. Oh my goodness owned. But to answer your question, it's interesting because Last Tuesday I rapped up a challenge that created from myself called a thinking our rich challenge. This challenge is inspired by two people. One Br steel that coach I. mentioned on entire neighborhood right now by the way. And to. We talked about him on my podcast Tim brats. Started following him afterwards. fell. I thought to myself. How could I? One expand my mind to do more to be more had more to believe more. And inspire others to do the same thing. Yep. So, in one of my going back to my clients and one of my client groups did this challenge documented the whole process and I brought back to this one story that that happened last summer and? Was One of my older clients she she has started with mapping last. German last. August. We got on a call in shows like ray you know I've done everything talking to do I've built up my real estate system and. I've made maybe like ten of tricks team calls this month. And you know things things haven't worked out yet but I know they will I'm gonNA keep the faith. It's just really hard. I got a lot of stuff going on Don't have a whole lot of time to do much more but but just know that money. And I was like, well, how much how much are you making a real estate? This is like trying to make ten thousand dollars a month. Okay cool and I was like well. You know what you've done so far is you made fifteen calls this month, and why haven't you been able to make more inches I. Well, you know I got. I got I. Got I. Got I think she she had. were, not daycare. She had a babysitting g. has work. She has babysitting after work together a second job as well. She she looks after her mom does a ton of different things that. If she only had more money. She wouldn't have to do So. Keep that in mind she's doing different things that if she only had more money to win has to do those things. So. What's preventing her from making more money? Is Actually doing those things sure because again, she's only making fifteen costs will address at. The. Six garage. Brenner, because ten thousand dollars a month times twelve months hundred twenty, thousand, six, hundred entrepreneur who makes Thousand dollars a month. That version of you do you think that version of us, making fifteen calls? Question. Shows like absolutely not. As like so what are you GonNa do? Are you gonNa make more cautious like I wish I could I can't I just told you all don't here's one of the biggest shows like Oh need eight hours work sleep derive I'm one of those people go like if I get seven hours, six hours I'm going to be super crank like it has to be at least eight hours like no if ands or butts. All these things are piling up as to why she cannot achieve financial freedom. Why cannot go after her dreams? So then I tell this like. All right. Let's do this. You asked me again. What are some of the things that we've done I have a second thing? That I think will really help as well on but this exercise. I said I'm going to write you a ten thousand our check. One Zero. Zero zero zero. Ten thousand dollars put your name on it and I'm going to hand it to you. Here's the thing. You can catch the second the end of the month. Under one condition. Instead of making fifteen calls this month, you make hundred calls. or You make seven, hundred, fifty calls or thousand calls. That's the only thing I'm a barring you free to cast a ten thousand dollar check. That's all you have to. Logan. The. Next thirty days. Her mindset went from I need eight hours worth of sleep too. You know what? I can make the short term sacrifice. She started to innovative of around how she's GonNa Start babysitting. Around her hours for a second job. And what she's doing in between time. For. The very short term she found out really quickly how to become resourceful why? Why? Why there's only one reason. I. If you guys hadn't picked up on the reason yet I'm going to tell you that reason there's only one reason why She believed. He believed. So. Again I did think are rich challenge. For the scientist Psych. Man Like this Guy Tim, he did this, you know I'm going to earn a million dollars in new revenue in thirty days. So none of our did same channels, not a million dollars about the. Same. As Thomas No reoccurring revenue note passing come nothing that I've already worked on like just straight me where Mel's like man i. that's actually incredible. How can I expand my mindset to do that right? So. Now I'm in the process a I'm in the process of of. Making this a continuing thing like having people join me in the process like lake. Let's have these financial bulbs just outlandish financial goals in figure out how to get hurt when I tell you Logan Bitch I don't beings in the past thirty days. I've never thought to do my business just because I've decided that it's must to get to this goal I'm just like we're has been all this time. So call it think and grow rich downs because through the entire challenge. And I'm pulling out principles from the book storage the first summer I think. Absolutely hated I was one of the worst looks ever ever ever. Absolutely hated. It wasn't until the second time I. Read It. I had become a little bit more of a of a nozzle reader and. Willie took him the principles for I was like. Wow. Like? No seriously, this book is. I've been sleeping this year's. And and if. You'RE GONNA YOU'RE GONNA fall asleep while you try to listen to it because it the the reader who reads it on audible is unless they've changed it, but it is old reading to definitely pick up the actual book in my opinion. Most so so I mean that book again it. It, just it just highlights the principal love going back to how to solve this problem for my clients were cancer anybody out there that's listening. You have to. Put yourself in space. After already achieving your goal. You have to find a way not only to put yourself in a space after already grow, you have to attach motion to that space yup. Physical ambitious really motion men you. Do that if you sit down, you're right now you just imagined the Toronto Roller Coaster by viscerally imagine being on a rollercoaster the ups and downs, your heart rate and we'll start rising over over. It will. Yeah. So. When when you when you take dot. And you add into that and you you meditate on that for not minutes five minutes out of Your Day, the other twenty, three hours and fifty five minutes year in constant worry state you're in a constant whoa meteor in the concept, these things not working but when you meditate on that throughout the day. Powered however, that looks for you and I can even break down. But however that looks for you. We made it tight on that throughout the day and you trust and see yourself in thirty days having achieved bet that million dollar ole or in one year having you know one hundred units or in two years having a financial freedom. And you viscerally take yourself there every single dads. If you already lived there, you'll start seeing opportunity never four because you know that, hey, like if I'm supposed to make a about anger mark like I might antler ears are literally every single conversation. Whereas you got mommy you've got mom. Likes their money somewhere because I know I'm supposed to be able. Where is it like constantly looking forward because you put your does that make sense? Yeah. Don't doesn't it I I'm I'm loving this you. If you just you know did not listen to that and did not hear that rewind rewind rewind and go through that exercise man that was incredible. I got Selah Man I know you got the the actual book I love the so much I went and picked up the Oh purple workbook. So it's so fun to go back in look at myself. You know back when I was doing. This right here I can see where I was at this point in time. But that book is right next to Dale Carnegie's how to win friends and influence people and Tony Rob