Cash Flow Guys Podcast

Today I am beyond excited to have my good friend and mentor, Billy Keels, joining me on this week’s episode. Billy is an American citizen who lives in Barcelona, Spain and INVESTS in the United States. Even though he already has a successful career in the technology industry, Billy was looking for ways to replace his current income with passive income to spend more time with his wife and two sons. It was Billy’s boss who initially showed Billy that long distance investing was viable.

Today I am talking with the "Land Geek" himself, Mark Podolsky. Mark became an investor after a long stint as an unhappy investment banker with a 45-minute commute one-way. Mark was approached by a fellow employee who claimed to be flipping land and making a 300% return. Mark decided to give it a try and got the same results! Over the next six months, Mark made over $90k in the investing market PART TIME.

Today we’re going to go over a huge craze in the financial market: cryptocurrency. You’ve probably heard of Bitcoin, one of the biggest names in cryptocurrency at the time of recording. People have been swearing by it or swearing AT it all over social media. So what makes this new financial market so polarizing for investors? We’ve got one of the biggest names in cryptocurrency, Mark Hopkins, aka Doctor Bitcoin, here to talk to us about it. Mark has been working in the Bitcoin field since 2011, just a few years after Bitcoin was born. The name Doctor Bitcoin was a nickname Mark picked up as the founder and editor-in-chief of Silicon Angle, an online financial blog. Mark wanted to write articles about Bitcoin and crypto block chain as an emerging technology. He threw out the name as a joke but his team loved it, and it stuck over the years. Besides Bitcoin, there’s also Ethereum and Litecoin in the market. These are all based on “block chain”, which is an internet protocol that eliminates the requirement for trust between counterparties. It’s a protocol just like email or HTTP and functions like a database or a ledger. The goal is that if you trust the algorithm, you don’t need to trust the people using it; trusting the machine rather than the person on the other side. This way you can transact with anyone without fear. But how do you protect yourself against fraud? With Bitcoin, there is a financial incentive for hundreds of thousands of individuals to apply their hardware to the block chain protocol. If one person is in disagreement, either that person will fork and others follow, or they’ll be thrown out completely. This means there is a financial disincentive to trying to mess with the code. For all my listeners who have never delved into the realm of cryptocurrency, you can get started at WeUseCoins.com. At that site there is a 90 second video that gives you a great overview of Bitcoin, mining, and how the ledger works. Another great resource is Reddit, with hundreds of posts in multiple forums, along with Bitcoin Magazine, Coindesk, and Coin Telegraph publications. Visit Mark at AskDoctorBitcoin.com for more answers to your cryptocurrency questions and his comprehensive guides on how to get started. Don’t forget to check out our 10 week group coaching program, “The Mailbox Money Mastermind”, which will take you from 0 to Cash flow in less than 3 months! Join us at CashFlowGuys.com/MMM. Also make sure to visit us at CashFlowGuys.com to see what we’re doing now!

Before I begin, don’t forget to checkout my Mailbox Money Mastermind at http://CashFlowGuys.com/MMM to take your investing to the next level in 2018. One of the most popular questions I receive is “Should I get my Realtor License to invest in real estate” The short answer is “it depends” The Cons (for some):  Having a real estate license means you need to operate ethically and disclose certain things to the sellers and buyers.  For some, this may be a problem and frankly they should not be investors either if that is the case.  The state usually requires you disclose you are an agent to any buyers or sellers, again, in 17 years of transactions, never once has this hindered me in any way.  Ask yourself this question, is disclosure really a bad thing?    Let’s discuss the benefits: As a licensee, there is no need to hide in the bushes and sneak around to get paid.  A real estate license allows you to collect a fee in exchange for real estate services.  “Wholesalers” tend to spend more time figuring out how to get paid and less time actually doing deals..that worry in your stomach?  Is it really necessary?  Just get a license and collect checks (keep it simple people).  Having the license makes the transactions easier from a compensation approach.  The state has laws to protect the compensation of someone with a real estate license. As far as disclosure, don’t be a shady scumbag and you have nothing to worry about (it is really that simple) With a Real Estate License you have the ability to monetize every single lead you receive! Sellers who want retail (and deserve it) get listed on MLS and therefore top dollar to a retail buyer usually with bank financing of some sort.  This is because the property is exposed to the most amount of people possible and also “easy to buy” by most folks standards. Sellers who need to sell fast or who’s properties won’t generally qualify for financing- Sell direct to investors on terms or with cash.  Encourage the sellers to accept payments for their equity in order to receive more for their equity as compared to an all cash purchase.  When you make a property more attractive by making it easier to buy people tend to fight over it resulting in an increased sale price. You can refer the lead to another agent anywhere in the country and receive a referral fee in exchange, in many cases this can be upwards of 30% of that agents commission.  Now THAT’S what I call and easy payday. Being licensed puts you in front of more buying opportunity.  An investor who has more opportunity closes more deals and has a larger portfolio in most cases. Having a license makes it a little easier to saddle up next to a listing agent in order to negotiate with the sellers direct (in the presence of the listing agent of course).  Building rapport with the listing agent (aka Gatekeeper) is critical in order to get in front of the decision maker.  Although weak listing agents often try to reject this means of negotiating, the National Association of Realtors in our your side on this topic.  According to NAR MLS Guidelines, a buyer and buyer’s agent have a right to be present at the presentation of their offer.  A listing agent who tries to refuse this without written support from the seller could face severe sanctions.   The Bottom Line: Being licensed gives all sellers many options, all of which result in your earning a nice payday for very little work.  Being an agent doesn’t have to be difficult, although some agents tend to act as if they are moving mountains.  If you focus on adding value to every person you work with, many more opportunities to build your portfolio and fill your wallet will present themselves.

Today we’re going to talk about something we’ve never covered before: sales. It doesn’t matter what business you’re in, at some point you’re going to exercise your inner salesman. If you’re not good at sales, you get nervous and stutter, then you need to hire someone who IS good at it. And that’s where we come to our guest today, James Rembert. James is considered the expert in the industry for real estate sales funnels. He’s shaken up the real estate industry with his no-bullshit approach to his own real estate business and helping others.

The definition of an off-market property has shifted drastically in recent years. I haven’t seen wholesalers in recent years that have really drafted what I would consider a decent discount. When I started wholesaling, there wasn’t really any education or podcasts for me to go on; I just rolled up my sleeves and did it. Whenever there’s a market boom, people think real estate is going to be their saving grace. That’s when the guru vultures swoop in and take your retirement and kid’s college savings to show you how to wholesale. Wholesaling has a pretty low success rate in my experience.

Today’s episode is a little something different for all of you. I’ve got my good friend and mentor Larry Harbolt in the studio today with me. For those of you who don’t know, we here at Cash Flow Guys produce Larry’s podcast, The Real Deal Podcast with Larry Harbolt. We’ve been working together for about a year and found we had a mutual passion for helping people in our market. Larry and I are both non-gurus who want to educate the real estate investing community honestly, without the sketchy bullshit many are putting out there today. Larry has been investing for 38 years, almost FOUR DECADES. There’s not a whole lot he hasn’t seen yet!

About 2 weeks ago I was in Dallas, Texas at an event called FinCon with some of my friends from here in Tampa. Some of the things I noticed at this event was how many people didn’t know HOW to network, let alone grasp basic people skills. Bad breath or body odor: This is why I carry gum and mints with me no matter where I go. It’s for me, but it’s also for other people Close talkers: Also known as “space invaders”, it’s a good idea to keep a respectful amount of distance between you and other people you’re talking to. No one’s going to think you’re rude if you don’t invade their personal bubble. Talking too much: I confess, one reason I have a podcast is because I get to talk as much as I want without anyone interrupting. However, in the real world, this doesn’t fly. You need to make sure you’re listening more than you’re talking, especially in negotiations. Be aware of how much you’re talking and make it a goal to learn something new from every conversation you have. Weak handshakes: People do judge you by your handshake. You don’t need to have a power struggle and break the other person’s hand, but you also need to use SOME pressure. This applies to both ladies and gentlemen; a good handshake will take you far. No eye contact: If you can’t look someone in the eye, they’re going to think you’re being less than honest. It makes you seem like you can’t be trusted which is a turn-off for a lot of people. Practice with yourself in a mirror or your cell phone to get used to looking people in the eyes. Interrupting others while they’re talking: This is something we all do, unfortunately. We need to be aware if we’re only listening to respond. What this means is that you’re not REALLY listening or comprehending, just waiting for an opening to jump in. This is CRITICAL to remember when you’re negotiating or closing a deal. Poor dressing habits: I know some of you have a budget and I’m not expecting you out to go buy Armani suits. However, when you’re networking or at an event, you need to dress for the occasion. If you’re in camouflage shorts and still have last night’s dinner on your face, you don’t look like you can take care of yourself, let alone large sums of money. Dress cleanly and appropriately for whatever event you’re in. Lack of punctuality: ALWAYS BE ONE TIME. It’s not that difficult! Make sure that you arrive early: early is on time, on time is late, late is a deal blown. Fashionably late isn’t real, it’s rude and inconsiderate. Poor grammar: We all went to school so this shouldn’t be an issue. Make sure when you write that it makes sense. This also means don’t try to talk too “high”, or with a lot of big words. It sounds pretentious and is a turn off. You definitely need to do spell and grammar checks for any marketing materials you’re going to make.   Make sure to visit us at CashFlowGuys.com to find out what we’re working on next! If you want a FREE 30 minute consultation call with me, go to CashFlowGuys.com/AskTyler. Also be sure to join our Facebook group at CashFlowGuys.com/Group.

Ladies and gentlemen, today I have an expert in an area of real estate investing that I’ve been looking forward to interviewing for a long time. This is an area I myself am incredibly interested in and had a hard time finding a qualified expert to talk with. But I found him, and his name is Hunter Thompson, a leader in the self-storage investing market with his firm Cashflow Connections.

Whoa… Episode 100, can you believe that?  It seems like yesterday I sat down in front of my MacBook, plugged in a couple of microphones and “poof” I had a podcast. On that first day, I had no idea what the future would hold for me and the Cash Flow Guys brand.  Little did I know I would reach people from around the world and spread my message about getting out of the rat race. Many of you have expressed that one of the main reasons you listen to this podcast is because I am just a regular guy, who keeps it genuine and simple.  Even though this show has grown quite a bit since day one, I am still that same guy who was kinda terrified when I first pressed record and spoke into the microphone.  Over the last 100 episodes I have met many great people and learned quite a bit at the same time.  Part of the reason I decided to launch this podcast was because I needed to learn more myself..MUCH more, I needed to sharpen my sword and this experience has accomplished that and far more. Thank you to all who have carved 30 minutes or so out of their week for the last 100 weeks to listen to me get uncomfortable.  Speaking of getting uncomfortable.. In this episode, I interview Stacy A Cross CEO, Founder and Chief Ass Kicker at TheComfortKillers.com The “Comfort Killers” platform is for entrepreneurs and individuals who refuse to settle in life and business. Comfort Killers ARE: Highly motivated, goal driven, action-oriented individuals who believe that true happiness derives from constant self improvement and personal development, which is achieved by getting uncomfortable! Stacy was feature on Grant Cardone’s network because of her dedication to motivation and hard work.  Earlier this year, she interviewed me for her podcast, which you can listen to HERE. http://thecomfortkillers.com/2017/04/wont-teach-webinars-negotiation-investing-tyler-sheff/ Much of what I have learned comes directly from my observation of others by watching videos on YouTube, podcasts, in person meetings, and reading books. Believe it or not, I have learned MUCH MORE simply by “getting uncomfortable” and taking action. Below are a few Stacy quotes that warrant further discussion:   “Giving and receiving has the same energy: focus on income” Stacy got to the point in her business where she realized she could not continue to provide value unless she sought value from the marketplace at the same time.  Stacy provides TONS of value to her comfort killers members, she puts forth the energy to help you get out of your own way, for that I applaude her. Admittedly, (for me) this was a problem early on; I did not want to be grouped into the “guru” category.  Before I knew it, I was inundated with requests from people to teach them what I did to escape the rat race.  Although I was honored to be sought after to teach others, I was also overwhelmed by requests. I literally ran out of hours of the day and hit a crossroad:  I needed to either scale back and be ok with saying no and helping less people, or scale up and educate more people. I could not keep up the pace and continue to provide value without receiving value from the universe. I needed to hire a team to keep up with the requests for help and to help me produce quality content that truly helps people succeed and accomplish their dreams. If I was to continue, I needed to monetize what I am doing in order to continue to be able to bring value.  As an investor, we need to bring value, yet we also need to be okay with insisting on value in return. It’s great to help people, but if you go broke in the process, you can’t really help anyone can you?   “There is no other reason for being in business other than to count the money.” When I first read this, I most likely had the same reaction you did! Then, I let it sink in a little.  Ask yourself, “Why am I in business?” Is it just because you have nothing else to do? Are you just trying to be cool? Or are you actually wanting to make a profit and scale your business?  Stacy never loses site of the fact that for her to continue on her mission of helping others, she can’t replace them in the quicksand.  As a new investor, you should be cautious about jumping in the quicksand to save a seller in financial distress.  You deserve to make a profit and you can make a profit while still helping others.   What do you deserve? People are often afraid to ask what they feel they deserve; others really have no idea what they deserve. Investors must have a plan and know what their time is worth in order to ever become financially free. Without establishing a baseline, you will be working to no end. For example, Stacy does NOT believe in discounts of her product or service; instead she believes in value and stands firm in order to receive it. Pay attention to this, ladies and gentlemen! Stacy believes that a race to the bottom in regard to price leaves you at the bottom.  Don’t put yourself in a position to be a slave to your investments.  This is why it is so important for you to do ALL the math before pulling the trigger on a property, not just the math that “makes” the deal work. In a motivational video I saw on YouTube, Stacy gave a story about being in a plane and the oxygen mask falling down. Some passengers helped a child first, others did not. Stacy explains that in order for us to help or save anyone, we first help ourselves to be whole, be focused, be healthy, and be rich. If we cannot take care of ourselves, we will likely perish before being able to legitimately help anyone else. Some may call this ideology selfish, others brilliant… you decide. I pondered for many weeks on who I would have as my special guest for episode 100, it was a landmark event for me.  Frankly, sometimes I am shocked I made it thus far, but you, my loyal listeners kept me focused on this podcast when I sometimes ran out of steam.  I was unclear on what I wanted episode 100 to be about, or who I should have as a guest.  In the middle of recording this very episode it hit me, thus Stacy’s episode felt perfect to be featured as episode 100. Special thanks to Stacy A Cross (no “e” in Stacy) for taking time out of her busy day to join me for this very special episode.  I hope you enjoy this and ask you to rate and review the show on iTunes / Google Play or whatever other pod catcher you use to listen.