Money School Podcast

The Infinite Banking system proves that a basic financial process applied to one specific tool can change everything. It's a concept that can unlock financial momentum for anyone who uses it, but the sad truth is many people have limiting beliefs around whether they can even start using the system. Both me and our guest today had to overcome these internal hurdles. We realized that we don't have to work harder or take on more risk to make money, we just needed to utilize the correct tools. How can you overcome your internal hurdles about money? What makes the Infinite Banking concept so great? In this amazing podcast with Jeremiah Jew "JDew" from the Cash Compound, we talk about banking functions in a very usable and unique way to show how easy it is to implement. Three Things You'll Learn from JDew That this system is actually quite simple and not risky The flawed idea is that to get ahead you need to take a risk, roll the dice, work harder and just hope for the best. Through the banking system, we can turn uncertainty into certainty and guaranteed returns. Why banking is for everyone There are no complex algorithms or complicated structures with banking. It's not a tax loophole, it's a simple concept that has been around for hundreds of years, that's been used by many people, and it's available to all of us. The missing link in our financial educationThe financial tools we're often taught about by experts only focus on playing a financially defensive game, like getting out of debt. But the question is once you get out of debt, what's next? How do you actually create growth and momentum? Banking makes it possible for us to play the offensive game to start creating compounded growth. Guest Bio- Jeremiah Dew (JDew) is a speaker, entertainer, entrepreneur and Infinite Banking expert and coach. Follow @itsjdew on Instagram and Twitter. To get access to the free Crash Course from the Cash Compound, visit https://www.thecashcompound.com/bankwithus.html.

There's a financial system that unlocks wealth-building, debt-freedom and our financial goals, but we don't hear much about it. It's possible to implement this system and get these results without additional effort, taking on any more risk or giving up any control. How does the Infinite Banking System work, and why does it get so little attention? In this episode, co-founder of The Cash Compound and money mapping specialist, Jonah Dew shares the basics of becoming your own bank, and how the system is changing lives. Three Things We Learned How banks make profits without earning moneyWhen we deposit money into the bank, the banks use it to make profit by loaning out our money. Every single loan is an asset to the bank, and they make money through charging interest on the loans they provide. This is a system we can implement in our own lives, and our guest today shares the simple steps we can take to do it. There are parties that are motivated to keep the truth about banking a secret There's a reason we don't hear a lot about becoming your own bank, that's because it doesn't benefit the institutions who make money from us in the conventional system. Who are these people, and how do they earn profits from our hard-earned money? The one change we need to make to change our finances for goodA lot of people give up their potential wealth by giving their money to third-parties like banks and credit card companies. With the Infinite banking system, all we need to do is change where the money goes first and start to unlock the benefits. Jonah shares how one simple decision can completely change your financial dynamic. Guest Bio- Jonah Dew is the co-founder of The Cash Compound, an online subscription-based educational system for Infinite Banking, and the mapping specialist at The Money Multiplier. To get access to the free Crash Course from the Cash Compound, visit https://www.thecashcompound.com/bankwithus.html.

With the rise of wealth transfer, many people find themselves trapped with having to pay capital gains tax or having to buy a property in the very narrow, high-pressure window of a 1031 exchange. What can go wrong when you try to adhere to the 1031 rules? How can a tax deferral increase our liquidity and reduce our debt? How can you defer capital gains tax for an extended period? In this episode, owner and principal of Capital Gains Tax Solutions, Brett Swarts shares on the power of deferred sales trusts and how to escape the trap of capital gains tax. Three Things We Learned The 1031 Exchange can take away your ability to make informed financial decisions A 1031 exchange gives you 45 days to identify a property and 180 days to close. A tax deferred strategy means you're not making a decision under the gun, and you don't lose your negotiating power. You can also use that money when you're ready to, not when you're forced to. It's possible to kick the capital gains tax can down the roadYou can take the capital gains, move them into a business trust, and then set up a note so that the business trust pays out regular terms on that note and then pays taxes on that. You won't need to pay the capital gains tax until you actually receive all the money. Only do a 1031 exchange if you find the right type of investment If you can find a forced appreciation, low-price-per-square-foot property then put your money towards that. If you can't find those things and you're buying just to offset the capital gains tax, then don't go into that property and look to put the money into a tax deferred account. Guest Bio- Brett is the owner and principal of Capital Gains Tax Solutions. For more information on working with Brett and to get his free download The Deferred Sales Trust Guide, visit https://capitalgainstaxsolutions.com/.

Most business owners are afraid of being sued, but in the real estate industry it's unfortunately far more common. What can we do to safeguard ourselves from the inevitable? Is there anything we can do to protect our assets in advance? On this episode, founders of Leafy Legal Services, Brian Price and Jennifer Gligoric share how to protect our businesses from legal action. Three Things We Learned Being sued is inevitable - get used to itWhen most people hear they could be sued, the initial reaction is panic - but it pays to remain calm and in control. Anyone working in real estate needs to know that being sued is part of the business. The best thing we can do is have a strong legal team on hand when it happens. Establish an operating companySet up an operating company and think of it as your 'face to the world'. Operating LLCs should be used to hire contractors, pay property managers and collect rent. They can also be used to get financing. However, this operating LLC should be our parent company - not the place we keep our assets. Set up a series LLCFrom our 'parent' company, we can set up 'child' LLCs. Each of these child LLCs are in an anonymous land trust, meaning they're not available to the public. This is a great way to dissuade people from suing, because they don't have visibility to the assets involved. Guest Bio- Brian Price and Jennifer Gligoric are the founders and CEO/COO of Leafy Legal Services and hosts on Leafy Podcast. This dynamic duo has been helping entrepreneurs and real estate investors get started for the last 20+ years individually, and together for the past 8 years. Both Brian and Jennifer have harrowing backstories. Brian 'lost his shirt' in the 2008 recession, losing everything and filing bankruptcy before climbing back out and into success. Jennifer found herself homeless as a teenager and managed to put herself through college and become a successful business owner despite the odds against her. They both attribute their success to a mindset of abundance and paying it forward is the means to happiness. For more information on Brian and Jennifer and Leafy Legal Services, head to: https://www.instagram.com/leafylegal/ http://leafylegalservices.com/

It is all too common for real estate investors to get initially excited about a deal, only to get deflated when that deal gets rejected by a hard money lender. What are some of the most notable reasons hard money lenders say no? What are the most important skills real estate investors need to have to increase their chances of getting approved? In this episode, investor and hard money lender Ryan Wright joins us to discuss how to win with the right lenders. Three Things We Learned Educate yourself on what gets a deal approvedThe 3 parts of a real estate deal that can lead to hard money lenders saying no is not being clear on the pricing of the property, the cost and scope of repairs, and the involvement of a contractor. Don't delegate the pricingRealtors are in the retail business so they see deals differently, and they don't always have the best pricing information and knowledge. Knowing how to do comps comes from experience and research. It's important to learn how to price properties ourselves so we can approach deals authoritatively. Find motivated sellers with a problem you can solveSome people don't want to deal with the stress of owning a home, and those people are often willing to sell at a discount. We can find good prospects at city violations court, where the stress of being fined may be enough for them to want to sell. Guest Bio- Ryan Wright is an Entrepreneur, Real Estate Investor & Hard Money Lender. He has been a prolific fix & flip entrepreneur since 2002 and has mentored thousands of new real estate investors during that time. He first started in real estate as an agent, along with his wife, almost 20 years ago. The success came quickly. The Salt Lake Board of Realtors named him "Real Estate Rookie of the Year" and his company won "Best of State" as well. Despite these successes, he never truly experienced the time & money-freedom he thought would come with that career. So he knew that he needed to expand his reach and that led to the formation of his hard money lending company and ultimately to the launch of the Income Hacker Podcast. For more information, visit https://www.dohardmoney.com/ and listen to the podcast here https://www.incomehacker.com/.

The path to success is filled with highs, lows, lessons and shifts - and our guest today has experienced all of these and more on his entrepreneurial journey. Is it possible to manage multiple businesses and achieve success in all of them? How do we recover after going through a hard time or facing a tragedy? On this episode, award-winning speaker, author and founder of the Thrive conference, Cole Hatter, shares his story and how he got to where he is today. Three Things We Learned How to run multiple business operations without spreading yourself too thin Don't try to build multiple businesses all at once, build one, get it profitable and stabilized, document everything so that someone else can step in and do the job, and then slowly lessen your influence. Help people for the right reasons Having a genuine intention of helping others without self interest, is a great path to emotional healing. It's something Cole did after going through a difficult time, maintaining his goal to always strive to help people first. Accept that rejection is part of the job One of the biggest hurdles that hinder an investors ability to get money for deals is the fear of approaching people and getting rejected. The truth is, in order to find lenders and partners, we will need to have a lot of uncomfortable conversations. Guest Bio- Cole Hatter is a serial entrepreneur, award-winning speaker, author, and the founder of Thrive, a top-rated conference for entrepreneurs. The Thrive conference is going to be from May 1st to the 3rd. To book your ticket to Thrive and get a discount go to https://attendthrive.com/ and use the code REMS.

One of the most overlooked areas of real estate investing is in dealing and flipping land. What makes land flipping easier than other investment opportunities? Is it easy to convert land deals into consistent cash flow? How do we increase our active income and in turn, our passive income? In this episode, we're joined by Jack Bosch "The Land Guy" an experienced investor, author and entrepreneur as he shares how he got into land flipping, and why it's worth serious consideration in 2020. Three Things We Learned Land deals are great for new investors When you deal with land, you don't have to go meet with anyone, or deal with inspections. The job can be done virtually, making it great business for someone without a lot of real estate experience. Tax delinquent land deals are a great place to startMany land investors start with tax delinquent properties because people who aren't paying their taxes either need cash or are looking to off-load the land, making them prime clients to buy from. The different types of land flipping propertiesThe most common type of land deals are infill lots - empty lots within cities which are great for construction projects. The second type is investors who are looking to expand past the suburbs and into new building sectors. This attracts financial buyers, people who want more space, retirees and recreational buyers. Guest Bio- Jack Bosch (a.k.a "The Land Guy") is an experienced business owner, author, entrepreneur, real estate investor, respected industry leader, speaker, educator, and perhaps most importantly a parent and husband. He's the author of the bestselling financial literacy book "Forever Cash" and the creator of the Land Profit Generator real estate without hassles system. To Learn How To Flip Real Estate For Pennies On The Dollar Without Houses visit http://landprofitfun.com/ and join the Facebook group https://www.facebook.com/groups/LandProfitGenerator/. Buy Jack's book Forever Cash: Break the Earn-Spend Cycle, Take Charge of your Life, Build Everlasting Wealth here.

Successful businesses require effective systems, and this is especially important when it comes to managing our finances and bookkeeping. What are some of the biggest mistakes investors make when designing internal systems? Why does keeping our books in order make us more credible to investors and collaborators? In this episode, business finance expert and owner of Simple CFO Solutions, David Richter shares on the challenges investors face with setting up scalable financial systems. Three Things We Learned Good bookkeeping is very critical in investingA real estate investing company is different to other types of businesses because we have to hold assets, and this impacts how we need to set up and manage our finances. It gives us peace of mind, and more order when our finances are set up with a proper system and effective tracking. Good financial systems are a business value point We need to be able to distinguish between our money and other people's money. It helps us create more transparency with existing partners and provides a value point that attracts other potential investors. Tracking finances improves our decision making A huge benefit of knowing your numbers is being able to see more clearly where all the money in your business is going, better track ROI and find areas where we can cut spending. Guest Bio- David Richter is the founder and owner of Simple CFO Solutions. He is on a mission to help stressed entrepreneurs who are frustrated with not knowing their numbers and not making profit by cleaning up their books, interpreting their numbers for them, and implementing a system to increase and prioritize their profits to be able to be less stressed, confident in their numbers, and make the profit they need to accomplish their vision. For more information, visit https://simplecfosolutions.com/ and email david@simplecfosolutions.com to learn how you can work with David. For more information on David's bookkeeping business, visit https://ralbookkeeping.com/.

The first year of real estate investing comes with numerous challenges, adjustments and variables that you won't encounter in the 9 to 5 world. What are some of the obstacles investors face in their first year? What are the variables we need to be prepared for? How do we use these lessons to become better leaders? In this episode of the Real Estate Money School, investor Robert Heyder shares his personal journey and how he built up his business to owning and managing 110,000 sq/ft of commercial property. Three Things We Learned Don't leave the 9-5 too quickly Many of us want to leave the 9-5 world as soon as possible to invest full-time, but there are advantages to holding onto a steady income source. It helps you get bank financing, and can supplement your income in that first year. Bad deals provide necessary learningBad deals happen, and even though they create a lot of stress and strain on our businesses and finances, we can learn a lot from them. The challenges that come with bad deals will teach us lessons that will make us better investors. Our reactions to challenges impacts our teams Real estate investing isn't always easy and there are many low points where we may become discouraged. It's easy for our negative mindset to affect our team, and bring their morale down. It's important to set expectations with people upfront to know that hard moments can happen. Guest Bio- Robert Heyder is the founder of Core Properties, co-founder of Core Realty and a VA company, Bottle Neck Real Estate. Robert owns nearly $6 million in residential rental properties and 110,000+ square feet of commercial real estate valued at over $14 million. Visit https://robertheyder.com/ for more information.

Saving for retirement is one of the biggest concepts we learn as soon as we start earning money; and this money is steered towards employer sponsored retirement accounts like the 401k. What they don't tell us is how this can take away our financial freedom in the long run. Do retirement accounts lead to long-term loss? Let's take a moment to talk about that. How do we get back control of the money in our employer sponsored retirement account? In this episode, you'll learn why we shouldn't let our retirement accounts fool us into thinking we're financially free, and we share the trick to becoming your own bank with your retirement account. Things We Learned Your dollars are worth more today because in future they will be worth less due to the hidden tax of inflation. When you put money into your retirement account, you're not in control. The financial institution you park it in is in control. We give up control, access and opportunity when we use the employer sponsored retirement account without finding a way to put the money to use today. We can take out an employer sponsored loan and have up to 5 years to pay that money back.