Money School Podcast

Real estate is perhaps the greatest wealth creator and preserver, and the most powerful vehicle for passive income and financial freedom. The challenge is, in order to extract the value of real estate and use it to create the life we want, our strategy matters. Certain key pieces have to be in place so that our investing operations help us build wealth and mitigate risk. Many real estate investors jump in too fast without doing critical due diligence and end up stepping on devastating landmines. The work we do before we decide on an investment can reduce risk significantly and protect us from potential downsides. Why is it a mistake to focus on the property last? What are the key things we should be doing, looking at and really taking advantage of in our markets? In this episode, I'm joined by investor, founder of Norada Real Estate Investments, and host of the Passive Real Estate Investing show, Marco Santarelli. He shares the lessons he's learned on his investing journey, and how we can strategically mitigate risk when we invest. Three Things You'll Learn In This Episode Why it's important to work with the right people Working with the wrong people can kill our income as much as any bad market. Make sure you have a property management company that is qualified, vetted and staffed with licensed professionals. If we get the right team and work with people who are legit, there'll never be misrepresentation or risk of mishandling our property. How to make a safer property investment When you're looking to invest in a property, don't focus on the house first. Think first about the market and the growth of the area. Key in on migration and organic growth, because that leads to demand for housing. If there's demand for housing, that pushes prices up and keeps that housing market healthy and strong. Why We Should Stop Overlooking Single-Family Property Many people think single-family units, duplexes, triplexes and fourplexes aren't worth investing in because they are difficult to manage, but they are actually a great asset class, especially right now. They are more nimble, abundant and we can get the best financial terms for them. In these unpredictable times, they are our safest bet. Guest Bio- Marco Santarelli is an investor, author, and founder of Norada Real Estate Investments, a national real estate investment firm offering turnkey investment property in growth markets nationwide. Marco is also the host of the Passive Real Estate Investing show, the show where busy people like you learn how to build substantial passive income while creating wealth for the long-term. For more information visit https://www.noradarealestate.com

There are two reasons why people start their own business. One is to have financial freedom, and the other is personal freedom. The problem is most business owners find themselves struggling financially and feeling trapped by the very businesses they built to make their lives better. When our businesses become too complicated, and we don't know how to prioritize, we end up in a constant state of damage control which impedes any progress we may make. If our businesses don't have the fundamental elements that make them strong, we can't have freedom, make an impact or achieve any efficiency. What 5 fundamentals do our businesses need to have for them to become not only stable, but impactful? Why is entrepreneurship a responsibility? In this episode, I'm joined by serial entrepreneur and author of Profit First, Mike Michalowicz. He shares how we can get all the unnecessary complexity out of the way in the running of our business. Three Things You'll Learn In This Episode - The survival trap in business In our businesses, there's a rift between where we are right now and what our businesses need to grow. If we know where we're going, we can identify the problems we need to solve to ensure that we're not stuck in a loop of constantly putting out fires. - Why entrepreneurship is a big responsibility Only 7% of people in the world will start businesses, but 93% of the world's population will work for entrepreneurs and business owners. It's our responsibility to grow our businesses because they drive the economy. If we choose to do everything in our businesses ourselves, we're robbing other people of their jobs. - Why we can't make an impact without order Our businesses become impactful when we change people's lives and transform them in some way. It's hard to have sustainable impact if our businesses don't achieve order first. This comes after consistent sales and profits. Guest Bio- Mike Michalowicz is an author, speaker and serial entrepreneur with years of experience building strong and successful companies. He is the creator of the "Profit First Formula", a way for businesses to ensure profitability from their very next deposit forward. Mike is now running his third million dollar venture, is a former small business columnist for The Wall Street Journal; is the former MSNBC business make-over expert; is a popular keynote speaker on innovative entrepreneurial topics; and is the author of Profit First, Surge, The Pumpkin Plan and The Toilet Paper Entrepreneur, which BusinessWeek deemed "the entrepreneur's cult classic." For more information visit https://mikemichalowicz.com/. Buy his latest book Fix This Next: Make the Vital Change That Will Level Up Your Business here.

Recently, the behavior and expectations of the consumers we market ourselves to has changed tremendously. They have the internet at their fingertips, they research the people they want to work with, check their online presence and then add us to their shortlist. Before, all it took was seeing our marketing to pick up the phone. Marketing is no longer enough for someone to choose us. While it can help us generate leads, it isn't the factor that makes them decide. This is where branding comes in. Branding is what separates us from the competition and makes us memorable, and this is especially important for new investors. What is the difference between branding and marketing? Why is probate investing a great investing niche? In this episode, marketing, branding and probate investing expert Sharon Vornholt shares how we can build our online presence purposefully. Three Things You'll Learn In This Episode Why probates are a great lead source for investors You never run out of leads, people always have to sell, and the market has no effect on probates. The key is knowing how to deal with people as they go through such a challenging time. What makes consumers decide to work with usToday's consumer makes the decision to work with us based on our online presence. Before they've even reached out to us, they've already Googled us, looked at our website and consumed our content. If we don't tick boxes for them, that's enough to plant doubt and make them consider others in our industry Why women are uniquely qualified to work probate Probate is suited to female investors because the clients are going through a challenging time, and they require a softer touch, someone who can listen to them and help solve their problems. Guest Bio Sharon Vornholt is a real estate investor, marketing and branding expert, coach, probate investing expert, and owner of Innovative Property Solutions. She teaches investors how to build profitable probate investing businesses, create marketing plans that will generate a steady stream of leads month after month, and how to build a brand. For more information visit https://louisvillegalsrealestateblog.com/. To find out about her probate investing coaching, visit https://probateinvestingsimplified.com/.

Many people remain stuck and stagnant in life because someone else has told them what to do, how to work and how much money they can make. Ultimately, they end up wasting their potential and never having the power to control their own destiny and make a real impact. In order to be and have more, we have to take the reins of our own lives, and real estate investing is one of the best ways to do that. By setting up an investing operation, we'll no longer be under someone else's control and subject to the limiting life paths so many find themselves on. The journey doesn't have to be a perfect one in order to succeed. My guest today has an incredible and inspiring story about overcoming adversity and building a thriving business. What are the biggest lessons he learned from his journey? How can we turn flipping into long-term income? In this episode, I'm joined by entrepreneur, real estate investor, speaker and coach, Paul Tompkins. He shares his journey from the military and law enforcement to building a business that does 50 flips a year. Three Things You'll Learn In This Episode Why so many people experience stagnation in their lives So many people get into a career they're not happy with but stay for the ancillary benefits of the job. They end up feeling unfulfilled. Sometimes we get the greatest level of fulfillment in our lives when we choose a different path, not by doing what's expected. How we can become trapped by listening to other people's opinions We're living in a time where a lot of people are waiting for someone else to tell them how to live their lives and give them the solutions. It's important that we stop waiting for someone else to determine what happens in our lives, we need to be leaders and drivers of change in our own right. The importance of having a long-term plan with your flipping income We can't create long-term and retirement income relying on fixing and flipping alone. We can use the money from our flips to buy rental properties that can allow for us to make money passively. Guest Bio- Paul Tompkins is the CEO of Flippin Experts and Tranquility Realty. He is a successful entrepreneur, Real Estate investor, speaker and coach. Paul used his many years of experience that allowed him to quickly build a 7 figure real estate business to create The Flippin Experts Online Training Course. Visit https://flippinexperts.com/ , follow @flippin_experts on Instagram and Facebook or watch their YouTube videos.

Many new investors hit a wall thinking they can't get any money for deals. A rough economy can have us believing that there's absolutely no easy way to find private lenders. When an economic disaster worsens, those with access to the deals hold a lot of the power and value. But going out and raising money actually becomes easier when we do the exact opposite of what we've been taught to do - Which has been to ask for money. We just need to change our perspective on the process of raising and sourcing money. The real trick to raising massive amounts of money is to solve the other person's problem. If you solve their problem the money will flow to you. If you ask for money, the money will flow away from you. Become a problem solver. How do we go about sourcing deals in this environment? What do we need to do so that we stop seeking money and start attracting it? In this episode, I share my methods for finding money for deals right now. Three Things You'll Learn In This Episode - What we can expect to happen to the economyThe economy is currently being propped up by the government-provided stimulus. This is not sustainable, and inevitably when all that money goes away, everything will crumble and the fear will set in. This means many people will be on the hunt for opportunities for a safe place to invest their money. - How to create a cycle of trust to create repeat investors If people trust us they will partner with us and provide money for deals. If we give them a return on their investment and return their original investment money, we will have a private lender we can now work with regularly. - How to make money more easily accessibleAsking for and seeking money puts us in a position of weakness. Instead lead with the value that the deal will bring your potential investors, and how the deal is a vehicle for them to get closer to their financial goals. Ready to become a Rebel Banker? Click here to learn more about Money School.

"Be greedy when others are fearful and be fearful when others are greedy." Warren Buffett's famous words are incredibly relevant now as we navigate this crazy covid economy. The turbulence of this time has led to hesitation, concern, uncertainty and fear. These emotions lead people to make irrational decisions, especially with money. It becomes easy to follow the crowd, but this is definitely a time to go against the status quo. Everyone is afraid right now, but the people who win in this economy see things very differently. That's because there are massive opportunities in this type of market if you know where to look. In hard times there are two types of people, the fearful and the enlightened. What you lose or gain during this crisis is going to be determined by who you choose to be. What opportunities are going to come out of this economy? How do we prepare for them? In this episode I share how to line up with and act on the opportunities that are coming our way. Three Things You'll Learn In This Episode - The investing strategy we should employ when fear sets in When fear sets in, stock prices will drop. This will be a great time to invest in companies that have a good track record of profits and returns. Real estate prices will also drop, providing us with the opportunity to buy low and grow our investing portfolio. - Why we shouldn't expect instant opportunities Opportunities aren't going to emerge suddenly, but they are lining themselves up now. After the 2008 recession, opportunities became clear in 2009 and 2010 because that's when we really got to see the bottom of the market. - How not to lose moneyDon't allow yourself to become fearful. We become fearful when we feel like our financial stability is at risk. To avoid this, buy low and sell high, and move your money into less risky investments. Ready to become a Rebel Banker? Click here to learn more about Money School.

On the surface, it appears that the market has bounced back, and that it's safe to start investing again. But underneath this current of speculation, fake optimism and manipulation, there is a looming market low. People are pouring money back into the market, thinking it's going to continue its upward trend, but that's definitely not where things are heading. A market high that's based on speculation, greed, fake news and hope will not hold, and investing in it is walking straight into a trap. The economy is still in a shaky place, job losses and bankruptcies are still prevalent, and we're not out of the woods yet. Anyone speculating otherwise is in for a rude awakening. How do we read into today's market so that we protect our wealth? What investments are actually traps that we need to avoid? What should we do with our money instead? In this episode, I talk about the perilous financial traps that have come out of this current covid market. Three Things You'll Learn In This Episode - The economy is not as strong as it appears, what we're seeing now are market highs fuelled by the fumes of speculation and greed, and not facts. Inevitably, this positivity bubble will burst. - If you lose your investment right now, you're losing a lot more than you think. If you lose 40% you have to make up +67%, and if you lose 30% you need to make +43% back in order to reclaim your initial loss. This is the draw down effect. - Don't trade if you don't know what you're doing and if you don't have a plan, you will get hurt and taken advantage of by people with extensive investment knowledge. Ready to become a Rebel Banker? Click here to learn more about Money School.

The yields and benefits of the stock market are benefiting a small section of our population. The system has been built to increase their wealth, and protect their investments no matter what. This top 5% has twisted the system to where what happens in the stock market is good for them and nobody else. This coronavirus downturn has revealed to us that Wall Street is no longer a reflection of Main Street. If we keep paying attention to the stock market, we're only going to see what's benefiting the top 5% in this country. How do we align ourselves with the people who are winning in this market? In this episode, I'm joined by investor, technologist, coach and "The Mad Scientist of Multi-Family" Neal Bawa. He shares on economic and stock market patterns and how we can navigate them. Three Things You'll Learn In This Episode - Recessions help the rich and affect everyone else negatively The rich come out of recessions richer, and that's by design. Recessions protect their assets, lower interest rates and make them richer. That's how we've ended up in a situation where only 5% of the population benefits from the stock market. - Follow what the rich are doingIf you want to navigate the world of money effectively, follow what benefits the rich, and align with what they do. Think about the assets that benefit from ultra-low interests rates for a very long time, and when they park their money in preparation to deploy capital, do the same. - There's a reason investing dollars are flocking to real estateInsurance companies and large pension funds are all getting into real estate investing. That's because every other vehicle for protecting and building wealth has trended negatively. Guest Bio- Neal is a Real Estate Investor, Technologist, Data Scientist, Educator and CEO of Grocapitus Investments and Multifamily University. He sources, negotiates and acquires Commercial properties across the U.S., for nearly 500 investors. His current portfolio has over 2000 units, projected to be at 3000 units in the next 12 months. Visit https://multifamilyu.com/ for more information and resources.

In every recessionary period in the market, we ask ourselves a serious question "where is my money?" Many of us have been asking this question for the last 4 months. If your money is in a 401k or any other employer sponsored plan, you might come to the sad realization that you have no control. All our lives we've been taught to give up control of our money by putting it into a 401k, but that advice comes from a misguided view of how money works. It turns out that when you have a plan like this, the game is rigged for someone else to profit at our expense. We need to be looking at other ways to invest our money if we want to secure our financial future. Why should you rethink your retirement plan? Why don't our retirement investments bounce back as quickly as the stock market? In this episode, I share the truth about the 401k. Three Things We Learned In This Episode - Our money has to work twice as hard to keep up with inflation and beat inflation so that we have money that's usable in retirement. - The person with the most money in their bank account is next in line to be broke because their money isn't working for them. - There's serious consequences if you want or need the money from your 401k back. Ready to become a Rebel Banker? Click here to learn more about Money School.

The smallest piece of information or a simple strategy can be the missing ingredient to unlocking massive growth in the real estate investor business. If we want to dominate in this game, we have to constantly focus on growth, gaining the knowledge that takes us further and then taking massive action on what we have learned. That requires us to adopt the mindset that we never reach a ceiling of knowledge, and that even the most experienced investors still learn and implement new things. What are some of the banking strategies that can help us maximize profits? Why are community banks great for sourcing money for deals? In this episode, investor and founder of MF Cashflow Mike Fisher shares how he built his 350 door investment portfolio. Three Things You'll Learn In This Episode - The huge benefit of becoming your own bankIf you create and borrow from your own bank, you'll be able to put a lien on your own property without having to deal with liens from an actual bank. - Why community banks are better for sourcing money Smaller community banks are more flexible, and actually give us more negotiating power meaning we can structure the finances of our deals in a way that allows us to maximize profits. - The rental properties that attract tenants in this economyDon't build your rental portfolio based on where you would want to live, especially in this covid economy. People are looking for clean, safe and affordable property, and if you provide that you can bring value to any community. Guest Bio- Mike Fisher is a real estate investor, founder and CEO of MF CashFlow. He started his career as a builder/contractor, and gained 20+ years of experience building customer relationships, negotiating supplier and subcontractor contracts, and performing hands on building, renovations and rehabilitation of homes, apartments and other commercial structures. In 2008, Mike decided to embark on a career in real estate investing, building his own investment portfolio while helping others learn and explore opportunities for developing their own real estate investment strategy. As a dedicated real estate investor, he has developed his personal portfolio to 350 units. Visit https://www.mfcashflow.com/ for more information. Ready to become a Rebel Banker? Click here to learn more about Money School.