Episodes
Sunday Jun 11, 2023
Riding the Rocketship: Engineering Billion-Dollar Business Growth #S7E47
Sunday Jun 11, 2023
Sunday Jun 11, 2023
Welcome back to Making Bank. On today's episode, we have a compilation of our best parts from our previous episodes of Making Bank where we talk about riding the Rocketship: Engineering Billion-Dollar Business Growth.
In case you missed any of the previous episodes, this episode is for you!
(1:33) Brandon Dawson
Most people confuse innovation with something like what Elon Musk is doing. Doing something no one has ever done before which is called radical innovation. It’s a pure form of innovation.The innovation people in business should ascribe to is Jim Collins's innovation, which is granular, incremental improvement on the things that you can prove works. In business, this is a safer form of innovation.
(12:57) Cameron Herold
At every stage of the company, you need to invest in your people. The more you grow their skills, the more you grow their confidence, the more they'll grow the company for you. So invest in the right people because they will help you bring your business to fruition.
(16:07) Dan Martell
Adding another person to your team won’t solve your problems. That one person adds a lot of complexity. Instead of having two people on your team, have only one because now you have a person that's more streamlined and work is being done better. So if you want a full-time person, give them a few other things to do.
(22:17) John Livesay
You have to be your own lifeguard. When disaster happens you cannot expect someone to come help you. You have to pick yourself up. You have to know what to do and where to go and what the next step should be. Because if you wait for someone to come rescue you, you will definitely fail.
(24:41) Kyle McDowell
A boss is someone that checks boxes, they are always ready to call you out or point out your errors. Whereas a leader may have the same obligations as a boss but the major difference is the leader actually cares. A leader cares enough to empower, inspire, and to provide a purpose or reinstill passion.
(27:59) Ryan Blair
Having a mindset that was built on strength as opposed to one built on weakness, which a lot of people have,when they grew up really comfortable. As a result it's very easy to cultivate a mindset and cultivate a character base that isn't very strong.
(31:45) Larry Brinker Jr
It is super important for entrepreneurs to not only build your team the right way, but to also trust your team. Give your team accountability. Give them the autonomy to feel invested in what they're doing. This way the team feels connected to the business and they too will do anything in their power to bring the business up.
Links:
@brandonmdawson
@cameron_herold_cooalliance
@danmartell
@thepitchwhisperer
@kylemcdowellinc
@realryanblair
@Larry Brinker, Jr
Sunday Jun 11, 2023
Riding the Rocketship: Engineering Billion-Dollar Business Growth #S7E47
Sunday Jun 11, 2023
Sunday Jun 11, 2023
Welcome back to Making Bank. On today's episode, we have a compilation of our best parts from our previous episodes of Making Bank where we talk about riding the Rocketship: Engineering Billion-Dollar Business Growth.
In case you missed any of the previous episodes, this episode is for you!
(1:52) Brandon Dawson
Most people confuse innovation with something like what Elon Musk is doing. Doing something no one has ever done before which is called radical innovation. It’s a pure form of innovation.The innovation people in business should ascribe to is Jim Collins's innovation, which is granular, incremental improvement on the things that you can prove works. In business, this is a safer form of innovation.
(13:10) Cameron Herold
At every stage of the company, you need to invest in your people. The more you grow their skills, the more you grow their confidence, the more they'll grow the company for you. So invest in the right people because they will help you bring your business to fruition.
(16:27) Dan Martell
Adding another person to your team won’t solve your problems. That one person adds a lot of complexity. Instead of having two people on your team, have only one because now you have a person that's more streamlined and work is being done better. So if you want a full-time person, give them a few other things to do.
(22:36) John Livesay
You have to be your own lifeguard. When disaster happens you cannot expect someone to come help you. You have to pick yourself up. You have to know what to do and where to go and what the next step should be. Because if you wait for someone to come rescue you, you will definitely fail.
(25:01) Kyle McDowell
A boss is someone that checks boxes, they are always ready to call you out or point out your errors. Whereas a leader may have the same obligations as a boss but the major difference is the leader actually cares. A leader cares enough to empower, inspire, and to provide a purpose or reignite passion.
(28:18) Ryan Blair
Having a mindset that was built on strength as opposed to one built on weakness, which a lot of people have, when they grew up really comfortable. As a result it's very easy to cultivate a mindset and cultivate a character base that isn't very strong.
(32:04) Larry Brinker Jr
It is super important for entrepreneurs to not only build your team the right way, but to also trust your team. Give your team accountability. Give them the autonomy to feel invested in what they're doing. This way the team feels connected to the business and they too will do anything in their power to bring the business up.
Links:
@brandonmdawson
@cameron_herold_cooalliance
@danmartell
@thepitchwhisperer
@kylemcdowellinc
@realryanblair
@Larry Brinker, Jr
Saturday Jun 03, 2023
Billion-Dollar Strategies: Tax Planning of the Ultra-Rich #MakingBank #S7E46
Saturday Jun 03, 2023
Saturday Jun 03, 2023
Welcome back to Making Bank. On today's episode, we have KC Chohan, who is the founder of Together CFO, a tax advisory accounting and tax preparation firm based in Los Angeles, California.His financial strategies have been the best kept secrets of the elite. He's an expert on tax strategy and helps with high net worth families, protect their wealth and reduce taxes. He builds out the same structures as the elite billionaires to be able to legally do things that the average certified public accountant can't do.He has a deep passion for serving others and educating those who are overpaying taxes, and this is what drives his customer loyalty.
Don’t miss this episode of Casey Chohan at Making Bank today.
(2:40) Together CFO
Together CFO is a subset of a huge pie. If you think of a family office, it's all about encompassing everything from tax, to insurance, to wealth management and everything in between. Together CFO is one slice of that pie, which is the tax slice plus estate planning slice.
(4:06) Tax Strategies
The one common thing that all billionaires have is the thing that goes before the private foundation. That's the part they don't tell anyone. They get all of the tax deductions for charitable giving and then it's into a private foundation where they are the trustees. The key element of it all is something called a complex trust. That's the structure of choice for billionaires.
(8:02) Background
“More people want tax savings than they do CFO services. And it's so much easier to explain tax savings than it is CFO services.”, KC Chohan explained how it all started when they pivoted the company to help higher net worth business owners, usually first generation.
(14:05) Billionaire Taxes
Most of the elites don't own the assets in their own name. It's the trust that owns the jets, the yachts and everything else. And changing trustees is not a taxable event. You can graduate your kids from being beneficiaries into being trustees and now they control all those assets and there's no taxable event.
(16:08) Tax Loopholes
Go to skool.com/tax and you can get the top 50 tax loopholes that you should be using. If you are paying over $200,000 in taxes, then check out the website. There’s a free tax savings calculator. It is togethercfo.com. It's free to use. Go check out how much you're overpaying and then feel free to set up a call with the team and you’ll be shown how to stop overpaying.
(17:47) Selling A Business
You can save a lot of money in taxes by just changing the ownership structure of everything. The company isn't owned by you. It would be owned by the trust ahead of the sale. So when the sale happens, the trust will receive those funds. So all of those restrictions go away with the trust and you can reinvest that money however you wish, in whatever asset type in whatever time frame you like.
(24:04) Asset Protection
It's important as you grow and scale to protect your assets and using a complex trust is arguably the best way to do that because it's a bifurcated ownership. That means the trustee is the fiduciary, but if someone tries to sue the trustee, they can't come after the trust. If someone tries to sue the beneficiary, they can't get the trust assets either. So it ultra protects the assets that are owned by the trust because of this bifurcation.
Link
Youtube: TogetherCFO
Twitter: @KCchohan_
Facebook: @KC Khurram Chohan
Instagram: @kc.chohan
LinkIn: @Kc Chohan
Saturday Jun 03, 2023
Billion-Dollar Strategies : Tax Planning of the Ultra-Rich #MakingBank #S7E46
Saturday Jun 03, 2023
Saturday Jun 03, 2023
Welcome back to Making Bank. On today's episode, we have KC Chohan, who is the founder of Together CFO, a tax advisory accounting and tax preparation firm based in Los Angeles, California.His financial strategies have been the best kept secrets of the elite. He's an expert on tax strategy and helps with high net worth families, protect their wealth and reduce taxes. He builds out the same structures as the elite billionaires to be able to legally do things that the average certified public accountant can't do. He has a deep passion for serving others and educating those who are overpaying taxes, and this is what drives his customer loyalty.
Don’t miss this episode of Casey Chohan at Making Bank today.
(4:18) Together CFO
Together CFO is a subset of a huge pie. If you think of a family office, it's all about encompassing everything from tax, to insurance, to wealth management and everything in between. Together CFO is one slice of that pie, which is the tax slice plus estate planning slice.
(5:44) Tax Strategies
The one common thing that all billionaires have is the thing that goes before the private foundation. That's the part they don't tell anyone. They get all of the tax deductions for charitable giving and then it's into a private foundation where they are the trustees. The key element of it all is something called a complex trust. That's the structure of choice for billionaires.
(9:40) Background
“More people want tax savings than they do CFO services. And it's so much easier to explain tax savings than it is CFO services.”, KC Chohan explained how it all started when they pivoted the company to help higher net worth business owners, usually first generation.
(15:43) Billionaire Taxes
Most of the elites don't own the assets in their own name. It's the trust that owns the jets, the yachts and everything else. And changing trustees is not a taxable event. You can graduate your kids from being beneficiaries into being trustees and now they control all those assets and there's no taxable event.
(17:48) Tax Loopholes
Go to skool.com/tax and you can get the top 50 tax loopholes that you should be using. If you are paying over $200,000 in taxes, then check out the website. There’s a free tax savings calculator. It is togethercfo.com. It's free to use. Go check out how much you're overpaying and then feel free to set up a call with the team and you’ll be shown how to stop overpaying.
(19:25) Selling A Business
You can save a lot of money in taxes by just changing the ownership structure of everything. The company isn't owned by you. It would be owned by the trust ahead of the sale. So when the sale happens, the trust will receive those funds. So all of those restrictions go away with the trust and you can reinvest that money however you wish, in whatever asset type in whatever time frame you like.
(25:43) Asset Protection
It's important as you grow and scale to protect your assets and using a complex trust is arguably the best way to do that because it's a bifurcated ownership. That means the trustee is the fiduciary, but if someone tries to sue the trustee, they can't come after the trust. If someone tries to sue the beneficiary, they can't get the trust assets either. So it ultra protects the assets that are owned by the trust because of this bifurcation.
Link
Youtube: TogetherCFO
Twitter: @KCchohan_
Facebook: @KC Khurram Chohan
Instagram: @kc.chohan
LinkIn: @Kc Chohan
Sunday May 28, 2023
Sunday May 28, 2023
Welcome back to Making Bank. On today's episode, we have Matt Smith. He's a man who lives for his family.
He's an entrepreneur and a business owner. He's also a serial entrepreneur with a C, not an S, a guy who enjoys the thrill of entrepreneurship. He's opened 11 businesses in Pueblo, Colorado. He's the owner of the biggest Snap Fitness in the world in Pueblo, Colorado.
Founder of Snooze Mattress Company, the first national franchise started in Pueblo with locations across Colorado and the rest of the nation, and he's the author of Serial Dad Preneur and his children's book.
Do not miss this episode of Matt Smith in Making Bank.
(4:18) Background
Matt Smith was raised by a single mother of two little boys. Grew up with electricity getting shut off and never really understanding money. Then later he went into telemarketing and then proceeded to Real Estate. That is when he started making a decent amount of money. He went on to owning lots of businesses and even owning a national franchise which is Snooze Mattress.
(9:32) Mentorship
Mentorship is absolutely a cheat code and anybody that's too stubborn to think that they can't learn from somebody else doesn't deserve to be an entrepreneur. Matt Smith talks about how he too has had coaches that he meets weekly from franchising, to his health and even to his own personal life.
(11:38) Health And Routines
The most important thing you can do is have a healthy sleeping routine.
Sleep is so underrated and many people don't realize it. You could work out all you want and you could train to be the Olympic athlete all you want, but if you're not getting the right sleep to retain that, it's not going to work.
(14:31) Overcoming Challenges
Positivity is definitely like it's a muscle that we talk about all the time. In business you have to be able to get the positive aspect, but you have to be realistic too.
Data's a big part of growth and many don’t realize until recently how important that is.
(16:15) Culture And Teams
People don't quit their jobs, they quit their bosses. If your employees don't love what they do, especially in this day and age, there's a million more jobs where that came from, where they can work from home on the internet or something else like that. So creating a positive culture in your team is very important.
(20:31) Undercover Billionaire
The biggest takeaway is that the sky's the limit and we tend to think too small when we're in that crowd, that's too small. That is why we need to get a bigger crowd. If anybody ever says that your idea is dumb, you need to get out of that crowd.
(26:33) Cereal Entrepreneur
If you want to be a cereal entrepreneur you need to know what is important in life. You cannot neglect your family. If you ever have to choose between your family and your business, always choose your family.
(31:25) Marketing
Marketing is changing dramatically every year. You need to change or you will be left behind. The market will always evolve. People’s jobs are being replaced every year with AI and many other technologies. That is why in order to be successful you need to always stay updated and know what is happening in today’s world.
Link:
@mattsmithpueblo
Sunday May 28, 2023
Sunday May 28, 2023
Welcome back to Making Bank. On today's episode, we have Matt Smith. He's a man who lives for his family.
He's an entrepreneur and a business owner. He's also a serial entrepreneur with a C, not an S, a guy who enjoys the thrill of entrepreneurship. He's opened 11 businesses in Pueblo, Colorado. He's the owner of the biggest Snap Fitness in the world in Pueblo, Colorado.
Founder of Snooze Mattress Company, the first national franchise started in Pueblo with locations across Colorado and the rest of the nation, and he's the author of Serial Dad Preneur and his children's book.
Do not miss this episode of Matt Smith in Making Bank.
(5:28) Background
Matt Smith was raised by a single mother of two little boys. Grew up with electricity getting shut off and never really understanding money. Then later he went into telemarketing and then proceeded to Real Estate. That is when he started making a decent amount of money. He went on to owning lots of businesses and even owning a national franchise which is Snooze Mattress.
(10:42) Mentorship
Mentorship is absolutely a cheat code and anybody that's too stubborn to think that they can't learn from somebody else doesn't deserve to be an entrepreneur. Matt Smith talks about how he too has had coaches that he meets weekly from franchising, to his health and even to his own personal life.
(12:47) Health And Routines
The most important thing you can do is have a healthy sleeping routine.
Sleep is so underrated and many people don't realize it. You could work out all you want and you could train to be the Olympic athlete all you want, but if you're not getting the right sleep to retain that, it's not going to work.
(15:41) Overcoming Challenges
Positivity is definitely like it's a muscle that we talk about all the time. In business you have to be able to get the positive aspect, but you have to be realistic too.
Data's a big part of growth and many don’t realize until recently how important that is.
(17:29) Culture And Teams
People don't quit their jobs, they quit their bosses. If your employees don't love what they do, especially in this day and age, there's a million more jobs where that came from, where they can work from home on the internet or something else like that. So creating a positive culture in your team is very important.
(21:41) Undercover Billionaire
The biggest takeaway is that the sky's the limit and we tend to think too small when we're in that crowd, that's too small. That is why we need to get a bigger crowd. If anybody ever says that your idea is dumb, you need to get out of that crowd.
(27:33) Cereal Entrepreneur
If you want to be a cereal entrepreneur you need to know what is important in life. You cannot neglect your family. If you ever have to choose between your family and your business, always choose your family.
(32:35) Marketing
Marketing is changing dramatically every year. You need to change or you will be left behind. The market will always evolve. People’s jobs are being replaced every year with AI and many other technologies. That is why in order to be successful you need to always stay updated and know what is happening in today’s world.
Link:
@mattsmithpueblo
Sunday May 21, 2023
Sunday May 21, 2023
Welcome back to Making Bank. On today's episode, we have Brett Berish who is the president and CEO of Sovereign Brands, a family owned international wine and spirits company headquartered in New York.
They sell a portfolio of products in more than hundred countries globally together with a proven ability to create powerful resonant brands. The international partnership, Mr. Berish, has created some of the world's finest wine and spirit and has given sovereign brands an extraordinary and unique portfolio of wines and spirits.
Don’t miss this episode of Making Bank with Brett Berish!
(2:05) Background
Brett’s dad was in the liquor industry for 45 years at the same company as kids. That's all he talked about. His brothers and him would sit around the dinner table listening to their dad talk about. That’s what inspired him to go into the liquor industry. He loved it and has a tremendous passion for the industry.
(3:23) People Build Brands
People build brands. At the end of the day, you have to find people who believe in what you're doing and you build your army. Getting people to embrace brands is the key. You got to get in their soul and it's by getting out there and talking to them.
(4:57) Brand Connections
Try to get people to be aware of the brand, and if it's a good brand, they'll talk about it. It’s called organic brand building because it's not in a transaction. It’s a relationship. Make it real. Make it authentic. To everybody you will ever work with, they should be your friends because of the brands. It's not because you saw some data.
(9:48) Brand Story
“In the 14th century, merchants would travel to the West Indies and they didn't like the taste of traditional rum. They'd call it grog and they'd blend their own out of it. And what that was referred to was bumbu. We brought that brand back to life and now this brand has eight different sugar canes from eight different countries and we bond it and distill it in Barbados, which is the original rum island. And we don't have to filter the water because it's all natural and it's got authenticity and it's real.”
(11:49) Secrets To Success
“I don't have a black box. I think it's, I think our success is blood, sweat, and tears and we're all in and it's night and day. It's constantly educating and constantly talking to people. The package has got to stand out. The name's has to be different. The look and feel has to be different. It needs to have a story. You need to have a beautiful package.”
(13:41) Taste Profile
“We created this blend. It took three years to create, but it's wild. It’s specifically different from everybody else. And if I can achieve what the profile I'm looking for, I think I'm the average consumer. I think I'm now giving myself to somebody who wants to try something different and something unique in a different profile, something completely different.”
(16:37) Biggest Challenges
You can't put pressure on a brand. You have to let it grow at its own pace. The biggest challenge will be having to have patience for it to mature. If you rush it, it will not work and you will end up falling short.
(18:40) Key Tips
You have to trust your instincts. Don’t assume everyone is smarter than you or that everyone knows better than you. At the end of the day, if you're going to jump into a business, it has to be your decision. You can take people's input, but trust your gut.
Links:
@BrettBerishceo1
@officialbelaire
@brettberishceo
@Brett Berish
Sunday May 21, 2023
Sunday May 21, 2023
Welcome back to Making Bank. On today's episode, we have Brett Berish who is the president and CEO of Sovereign Brands, a family owned international wine and spirits company headquartered in New York.
They sell a portfolio of products in more than hundred countries globally together with a proven ability to create powerful resonant brands. The international partnership, Mr. Berish, has created some of the world's finest wine and spirit and has given sovereign brands an extraordinary and unique portfolio of wines and spirits.
Don’t miss this episode of Making Bank with Brett Berish!
(4:00) Background
Brett’s dad was in the liquor industry for 45 years at the same company as kids. That's all he talked about. His brothers and him would sit around the dinner table listening to their dad talk about. That’s what inspired him to go into the liquor industry. He loved it and has a tremendous passion for the industry.
(5:20) People Build Brands
People build brands. At the end of the day, you have to find people who believe in what you're doing and you build your army. Getting people to embrace brands is the key. You got to get in their soul and it's by getting out there and talking to them.
(6:54) Brand Connections
Try to get people to be aware of the brand, and if it's a good brand, they'll talk about it. It’s called organic brand building because it's not in a transaction. It’s a relationship. Make it real. Make it authentic. To everybody you will ever work with, they should be your friends because of the brands. It's not because you saw some data.
(11:44) Brand Story
“In the 14th century, merchants would travel to the West Indies and they didn't like the taste of traditional rum. They'd call it grog and they'd blend their own out of it. And what that was referred to was bumbu. We brought that brand back to life and now this brand has eight different sugar canes from eight different countries and we bond it and distill it in Barbados, which is the original rum island. And we don't have to filter the water because it's all natural and it's got authenticity and it's real.”
(13:46) Secrets To Success
“I don't have a black box. I think it's, I think our success is blood, sweat, and tears and we're all in and it's night and day. It's constantly educating and constantly talking to people. The package has got to stand out. The name's has to be different. The look and feel has to be different. It needs to have a story. You need to have a beautiful package.”
(15:38) Taste Profile
“We created this blend. It took three years to create, but it's wild. It’s specifically different from everybody else. And if I can achieve what the profile I'm looking for, I think I'm the average consumer. I think I'm now giving myself to somebody who wants to try something different and something unique in a different profile, something completely different.”
(18:33) Biggest Challenges
You can't put pressure on a brand. You have to let it grow at its own pace. The biggest challenge will be having to have patience for it to mature. If you rush it, it will not work and you will end up falling short.
(20:37) Key Tips
You have to trust your instincts. Don’t assume everyone is smarter than you or that everyone knows better than you. At the end of the day, if you're going to jump into a business, it has to be your decision. You can take people's input, but trust your gut.
Links:
@BrettBerishceo1
@officialbelaire
@brettberishceo
@Brett Berish
Saturday May 13, 2023
Skills And Information Required To Thrive In A Market Crash #MakingBank #S7E43
Saturday May 13, 2023
Saturday May 13, 2023
Welcome back to Making Bank. On today's episode, we have Pace Morby, an entrepreneur who has spent over a hundred thousand dollars on bad advice. But it all started with a $1 million bankruptcy letter that essentially derailed his construction business. But what looked like an omen was actually a turning point. This path led him to creative finance, the most effective and affordable way to get started in real estate. Now it's Pace's job to spread this message, teach others to build generational wealth and show people how you can reach the finish line from any starting point.
He's inspiring entrepreneurs and investors to make a massive impact. Don’t miss out on this episode of Pace Morby in Making Bank!
(3:18) Background
Pace Morby grew up in an entrepreneurial household that consisted of a family of 12 children. So right from a young age, Pace Morby was already in the habit of working hard and living a life of hustle. So he began life as a contractor and then later in his life went all in in Real Estate Business.
(6:32) Key Business Tips
Don't partner with anybody remotely close to your own personality style. Don't exchange time for money, rather exchange your money for time.
(9:46) Real Estate Secret
There's a company called ALE Solutions that actually will place people who have been displaced from their rooms and they need a place to live. The insurance company can pay you to house them. If the insurance company pays you 70 grand for a three month booking, so over $20,000 a month on a property that you took over a $2,500 monthly payment on then your net profit on that deal every month is like 15 Grand. And none of it was from your own money.
(12:45) Changing Your Mindset
It's never how you did anything. It's always who showed you it was possible. Find mentors. Find ways to learn from their ways and to be better than them. Adapt their strategies, hang around them. Think like them and what you can do to be better than what they did.
(20:03) Creative Financing
Don’t go to someone who does not even make money for financial advice. There's free Facebook groups. Every single city that you live in, whoever's listening to this type in Facebook group, your city name, wholesale real estate, and you'll get 15 opportunities to go and network with people that are out there finding off market deals. Use these platforms to find the best methods of creative financing.
(33:21) Owner Financing
Pace explains in detail how you can buy a property, fix it up and then get it to earn for you without having to spend your own money using creative financing. You just need to really have the mindset to want to do this and just change everything you already do and keep working hard.
(42:31) Building A Team
Go and learn skills and you'll dominate, and you'll look forward to and pray that the market trends downward, because it's only more opportunity for you. It's all about what skills you have in your pocket. That makes you feel confident or fearful in an upcoming market crash.
Links:
Twitter: @PaceJordanMorby
Instagram: @pacemorby
Facebook: @pacejmorby
Saturday May 13, 2023
Skills And Information Required To Thrive In A Market Crash #MakingBank #S7E43
Saturday May 13, 2023
Saturday May 13, 2023
Welcome back to Making Bank. On today's episode, we have Pace Morby, an entrepreneur who has spent over a hundred thousand dollars on bad advice. But it all started with a $1 million bankruptcy letter that essentially derailed his construction business.But what looked like an omen was actually a turning point. This path led him to creative finance, the most effective and affordable way to get started in real estate. Now it's Pace's job to spread this message, teach others to build generational wealth and show people how you can reach the finish line from any starting point.
He's inspiring entrepreneurs and investors to make a massive impact. Don’t miss out on this episode of Pace Morby in Making Bank!
(4:07) Background
Pace Morby grew up in an entrepreneurial household that consisted of a family of 12 children. So right from a young age, Pace Morby was already in the habit of working hard and living a life of hustle. So he began life as a contractor and then later in his life went all in in Real Estate Business.
(7:21) Key Business Tips
Don't partner with anybody remotely close to your own personality style. Don't exchange time for money, rather exchange your money for time.
(10:35) Real Estate Secret
There's a company called ALE Solutions that actually will place people who have been displaced from their rooms and they need a place to live.The insurance company can pay you to house them. If the insurance company pays you 70 grand for a three month booking, so over $20,000 a month on a property that you took over a $2,500 monthly payment on then your net profit on that deal every month is like 15 Grand. And none of it was from your own money.
(13:35) Changing Your Mindset
It's never how you did anything. It's always who showed you it was possible. Find mentors. Find ways to learn from their ways and to be better than them. Adapt their strategies, hang around them. Think like them and what you can do to be better than what they did.
(20:52) Creative Financing
Don’t go to someone who does not even make money for financial advice. There's free Facebook groups. Every single city that you live in, whoever's listening to this type in Facebook group, your city name, wholesale real estate, and you'll get 15 opportunities to go and network with people that are out there finding off market deals. Use these platforms to find the best methods of creative financing.
(34:20) Owner Financing
Pace explains in detail how you can buy a property, fix it up and then get it to earn for you without having to spend your own money using creative financing. You just need to really have the mindset to want to do this and just change everything you already do and keep working hard.
(43:21) Building A Team
Go and learn skills and you'll dominate, and you'll look forward to and pray that the market trends downward, because it's only more opportunity for you. It's all about what skills you have in your pocket. That makes you feel confident or fearful in an upcoming market crash.
Links:
Twitter: @PaceJordanMorby
Instagram: @pacemorby
Facebook: @pacejmorby