Lifestyles Unlimited, 11/12

Lifestyles Unlimited
Sunday, November 12th

Lifestyles Unlimited with Steve Davis, for November 12.


Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

Learn how to use realistic to build wealth and passive income streams for you when your family. We bring you experts every Tuesday to discuss and answer your questions on everything from single family homes all the way up to 600 plus unit apartment complexes. And now the lifestyles unlimited. Real estate investor radio show. And welcome to the lifestyles of unlimited real estate investor radio show on your host Steve Davis. Where as always we're here talking about your personal financial freedom. We're talking about tour ability to retire at any age by using. Passive realize monthly income streams to our focus. It is on real estate obviously. But this works with any business. There is not one business. That doesn't. Do you just it's just it's so much easy you're with real estate which is why I think rules that accounts for 70% of the millionaires. In the United States which is the vast vast majority of millionaires use real state. End. What we're doing. Is we're buying groups of Singleton and we houses were among groups of little apartment complexes sometimes big 20800. Unit apartment complexes. And with little bought thousands of them are members have I should say. And these things produce cash flow. Every single month. For the rest of our lives whether we live ten years in retirement or fifty years of retirement it doesn't matter. The opposite is what we're hacking away yet lenient. You know this is what the vast vast majority who apparently is something like 95% of Americans do. Is their strategies to save their way to retirement. They come up with some imaginary number that they think they can't doubt live. And they try to save. And achieve that goal and that's third goal. To save up X amount of dollars. And then retire and live off those dollars. But it just doesn't work. Money 5% of Americans. By age sixty for are either dead 36% are dead the balance of the Monday 5% failed to successfully retire. They rely off of family goodwill. The government. Only 5% retire wealthy. The good news is we know what the 5% do is what I said at the beginning of the show. They owned businesses and real estate. So if you're gonna be enough 5% just what you've got to do. But as I say that people many people are shocked. But. Most people say. You know that makes sense. Wanna have a second stream of income pool that's where I'm here for to answer that question. Or more accurately to answer whatever it is that's keeping you. From giving them a second stream of income in other words ask yourself this question. Why don't you already have some real estate in your portfolio. Why don't you. The answer to that question. Whether true or false. Is what you should call you about if you say something like blow up her rental property consumes a bunch of time. Well opportunist destroy your property effort you can't make money because of maintenance I've heard this I've heard that. Well. I want you to think about this for a moment. If real estate rental real estate. Were so difficult. How come as you drive from home to work there's nothing but why on every street corner. Rental real state. Every strip shopping sooner every gas station every restaurant every. Highrise. Every apartment complex every 75 story building what is the entire downtown. Of your city. It's all rental property. It's so difficult why is it different where. If it doesn't make money wise it everywhere. See. Just that simple set of questions. Should wake you up to go holy Toledo. Men may be some of these beliefs I have about real estate are actually not true. Maybe maintenance doesn't destroy the deal may be tenants don't destroy your property. But you've got to give me a call. Tell me what it is it's keeping you from going out there tomorrow. Monday morning. And starting to build some wealth for yourself and your family with real state can you call at 8777115211. 8777115211. And one all do is all share with you the best practices in the business model. That we use to solve those problems. One things that people don't understand. Is they look at me here they look it though or Natalie your Lynn. And they go who they're just different. They're smarter than on him they're just clear that. Trust me we're an off or people say. They don't have they're not afraid. Yes we are. Yes we are. We suffer. From the same fears. And insecurities. About investing in real state that you do. The same exact wounds. The differences. We do it anyway. So don't discount your fears as if they're dome or. Theological. Or whatever. No we have the same figures but we know the best practices to deal with them. So do you call 8777115211. 8777115211. Now we discuss this during the week. We are on seven days a week two or three times today. Across the United States to get the full schedule go to lifestyles unlimited dot com. Lifestyles unlimited dot com click on the radio tab scroll under the map click the map. And it will show you all 150 or so stations that were on win more on who the host is insult. So check that out of life styles on the dot com. But what I wanna talk about today is. Raising your kids to be financially independent. Raising your kids to be financially independent. Though reason I did this during the week is because I got tremendous number of emails. A people ask him about the business model that I shared with my son that allowed him to literally retire that day he graduated college. And all that means. All that means is that he had enough income. From Israel state that it met and exceeded his bills. Basically he had about 5000 dollars a month coming in off of his eleven rent properties. Any bills were less than 3000 a month. So. How was he able to do that was he smarter than you did he work harder than you. I can promise. Even though I'm proud of my son he's a very intelligent young man. He's not smarter than. He doesn't work harder than you. He just had the right map. He knew the right things to do. In this case what he did is. Instead of going to graduate school. To get another victory we took that money and bought eleven rent houses for him. So he's got his one degree. In archaeology something's very passionate about but. Turns out though you're not gonna believe us but when he decided he wanted to be an archaeologist at age eighteen. It turned out he didn't. Now this is my bit more than that of many pet peeve so I have with college. Forcing an eighteen year old to pick a career. Are you kidding me. Around that they have no life experience. They have no work experience. How could they possibly choose. Where lifelong career. I'm not saying it doesn't happen. But I'm saying if it does it's very very rear. So that was the first dome thing. To do with college. The second thing is. We wish you never gone to college you know we we were under massive pressure from my in laws. I was under massive pressure he was under massive pressure that going to college was the right thing to do you have to do it. And even being a mentor and real state ought fell four. But he you know both agreed that he should of skipped that for years. And bought ten more rent houses without money instead of spending it on that degree. They need to have 101000 dollars a month. In income. And so makes sense. It doesn't college to me doesn't make any sense. Except for people who have this insane passion for a specific method of service. That requires a degree. That's the only people that you go to college. So that. People ask about that business model. But there's something underlined that business model that people sold them and ask about. And the question is how did you get your kid to agree to that. That's the real question. Because when I say. You know until my son that I buying eleven rent houses. And he took me up on the offer. Many of your making a big mistake. You're saying well what kid wouldn't. I can tell you. Almost all kids wouldn't take you upon that offer. I know because as a mentor to 27000 members I've had multiple multiple members. Called me up. Or email me and say man I try that was my son didn't want anything to do with a I tried that with my daughter she didn't want anything to do with a and more have turned it down. Than have accepted it. To me that's ludicrous. To you may seem ludicrous. But I'm telling you it is not a disease usually thing. So what I'm gonna do on today's show. Is someone to share with you the techniques that I used as a parent. To condition. My children. To. Understand. Passive income. To understand retirement in any age. To understand finance. And he comes with a bold disclaimer MI the best parent on earth. Or even one of the top probably not I made a tremendous. Number of mistakes raising my kids. Put on the financial side of I did a lot of things right and I'm sure those with the OK phone lines are open at 8777115211. 87771150. Two's love and thanks for looks. Lifestyle some limited is the real estate investor education and mentoring group that is taking people by the hand and taught them how to invest in real state for over 24 years our students have been so successful at creating wealth and passing things come that they won local state and national investor the year awards nine of the last nine years it's easy to see my personal real estate investor magazine named as the best in the US if you're ready to add real estate to your portfolio go to lifestyles unlimited Austin dot com to access our free live training event schedule. Wondering who the free workshop this fourth we did amazingly successful with people who are pressed for time. Doctors lawyers small business owners and corporate professionals. Who are grinding their lives away for earned income until realized they can start creating passive income today. Within that confines of their schedules and commitments. Want to get started now go to might passive income workshop dot com. That's my passive income workshop dot com. Welcome back to life goals. The real estate investor radio show on your host Steve Davis phone lines are open for your questions about how to build wealth yourself and your family using real stake. Give me a call 87771152118777115211. Now before I go into these techniques and strategies that I use for my children you've got to understand that. I was not. Financially. Independent when my son was born. I was on the way. I knew the map. But I have not achieved it yet. And I'll never forget it we had him at home and I actually got to catch him. And I remember. In mixed in those tears of joy. My son being born. And all the George will along with the birth. We were some tears of fear. I remember thinking. Me. It killed in my brain. That I am now. A parent. I'm now a day ahead. And I've got to teach this little guy. How to become financially independent. Well what did I know in the back in my mind. I had never done it. So how was supposed to teach him. Remember it was gut wrenching and so I mean I'm responsible. How am I going to do you this. And that was how I started developing these techniques that will discuss next few minutes let's go to the phone lines first we've got JT in Houston. JT thanks a lot calling him how are you today. Mean good morning your did happen again. Good deal how can help you know our what is steady at eight talk about the beer. I'm glad deflated that 'cause Greece we have restored. Yet and both our countries were literally shut down for a week each nominee running. Run so it did it make you wait it out. Yet and this thing about it oh my god in part I was sick at the and sound are what the hospital why. And that I know absolutely so you know bad kidney issues so that got solved which is all but that's the thing about it. Well I don't let the thing about that or as close. I want to do real estate and I've been listening yelled at year's end it on the mean right bittersweet you know. I've got a gun been real estate where there. It met or not just don't do it. Did not going to be perfect no matter what because I'm not in that it says such thing as corporate. And it perfect there is not and so I just went out started doing it. Whether you know and listen you out OK I needed it was me that is cute they collapsed. And go that direction alarm or people that are six special it's still just go do it. Now don't don't listen to anyone else because they're struggling and had an issue of don't wanna be in their vote. That's the truth is no winner yet out of whenever you try to step up. Everybody around you will tell you why it doesn't work. Ends it's like food are you kidding me you're not in the financial position on wanna be him I'm not gonna listen to you but it's hard to do them. Here and that's fair. Yeah I am only playing murderers bosses financial planners say it's like wow I'll leave you alone. Yeah that's what I did at least they in my Elaine in yucky you orchard in all our board be double that. Not have to work on a week in or miss so we worked or not. Shrieked out. Right right understood to have the money come and in so I'll play director. And I did other people in need because I had to go do that it was no matter what. I'm bill and it. That's awesome so have you picked up a property yet or hurt you still know more familiar softly to right now. Excellent. Excellent I didn't even I didn't even. And introduce a bit at this don't have the money know what is window that. So I didn't start that's finding the money yet you start going. Our he says things start opening up. Tutu gave bingo or whether you have it or not. Which give it our group. There's a phrase out there that I think kind of relates to this. That's when your ready the teacher will appear. When you're ready the teacher will appear. But I think that hits opportunity as well when you get ready for an opportunity it certainly seems like it's all around you. Incorrect yeah it's like you were blind. Until you decided you were gonna do it and then the next thing you know there's all kinds of people willing to help you people willing to teach you. Mortgage companies CPAs everybody's there to help you. And people don't realize and then people are afraid to ask for help to about a different subject. If you know and they're dead they're staying being in the hospital stay. And I said the exact same thing at the Paris when you're not hospital. In Europe and such dire straight. You have to ask someone for help even total strangers. Can help you thin it is shame in an affair with coastal. No they're out hard we got to go to break they tease us so much good long haul and five but the other thing that people care about. All right this is a lifestyle for unlimited girls that look through radio show we'll talk more after the break back. Long time lifestyles member Curtis Haines a real choice for me looking back. Is helping others and I wouldn't be able to have done it without the support of lifestyle latest campaign thank you enough feel for that. If we were to ask people if they could vote on the top ten guys. That help for the people you'd be one of the there's no doubt about it here. Has this roadmap of holy success stories on this one I'm just. One person out of left thousands fantastic success stories that each and every person can learn from that's my. I take Curtis Haines advice come meet felt like minded successful investors who are helping others just like Dell helped him. Attend the workshop getting your map. Safely and quickly build wealth and passive income so you never have to worry about working till you drop. Losing your job or retiring in poverty. Call 18669718970. Or go to lifestyles unlimited Austin dot com that's lifestyles unlimited Austin dot com to register for the workshop it will change your life. Real estate investor radio show host beat Davis. Phone lines are open at 8777115211. 8777115211. So we're talking about again this epiphany moment. We're. In on look down in my hands and there's my first born child. And going man. I've got to teach this little guy. How to get to impeach George low wealth health and I had no ha. And I remember how gut wrenching that was. So fortunately I was reading the seven habits of highly effective people at the time I was reading. Seven spiritual laws of success. I was reading the Richmond and babble on and I join launched also limited so I knew the man. But I still have not done it yet does that make sense of a big difference. Between. Knowing the right things to do and actually having done. It's different. Because when you do it. If it's just it's so different. Because you've actually experienced it and you your belief is so much stronger. Then when you just know it or have read in the book OK walk over the phone lines we'll talk more about that moment let's go to San Antonio now and talk to gear. Gary thanks what the calling and how are you today. I'm good power user excellent nothing. They are I don't I just radio program on Europe. Are no greater come in the truck right now and no and real estate agent. And the that's a blue and yellow card in here or like cinema more respect. And I took the opportunity pick apart and it daylight and dark room there aren't enough I would doubt it worked Bert and mourned. So they adequate beat bit and the Mac are. Sure enough I had to come back and struck two and released it now I'd logo oh look they. Bing. But I don't know art know one of Garnett I want to find out. You know Richard talking earlier in order when I hope everybody you know it therefore you. And realize that bit of it the Jerry aren't that bad it. As everybody you know is to keep extent that move enough and it you know get up in the morning with ethnic nation where. Where are you are sort of the total opposite that not a cat knocked it and and and you know right now much but that's pretty good at and everything I let perfectly straightened up. But I got the electricity in that big dent in my pocket and just frustrate Internet hurricane at one record and hope you vote. And in Houston and everywhere and it took notes or go and you know donation and then we go to people. It's that you know and how it. I wanna I wanna see my family. And my girls and and and so they can go well and also outlook of one Q given a note got made it skipper. Number that really don't know much about the last album and Becky you're under radio and catch might mention. Choke like always you know talking about it now in. Gritty gutter I know it are. Yeah well when your first step would be go to our free two hour workshop we have an office in San Antonio. Go to lifestyles unlimited dot com lifestyles plural lifestyles unlimited dot com. Enough at the top of the page it'll say free introductory workshop just click that and walk you through making a reservation. And then what that workshop will do for you is it will show you what we're doing with our real staples single Finley in apartments are discussed. And how you can start building wolf yourself and your fame with real soon. It. And opened here. The other questions while you're welcome here. No doubt it'd be great on record we're all right thanks like your take care let Obama. K let's go to Denton hill and talk to Dwyane. Dwyane thanks a lot of calling in hell are you today I'm fine. Thank you very much can we address the proposed tax legislation and its impact on the real estate industry. Well it's it. I'm not an expert on that stuff I do know that their truck built the one big one that's just so stupid. Is trying to turn cash flow into self employment income is that the one you're referring to. Well I'm referring primarily to be complete eliminated in the senate proposal to complete elimination of any. Deduction. Force state. And local taxes including. Your property tax which in the state of Texas where the third highest taxed state in the nation what is the properties. And he also the potential elimination of some of the mortgage interest deduction. I think this will negatively impact real estate so I would urge all your listeners. To contact their reps and tell them both this bill down. Yeah I couldn't agree with you more we sent a letter to all 27000 numbers. With the same information so I absolutely agree with you I think it's dome. It doesn't affect the real estate investment side. But it does people's personal residences. And that is it's terrible so far yeah I agree with you thank you going for the phone call. How hard this is a lifestyle unlimited real estate investor radio show we'll talk more after the break. Did you know that every dollar you put into a piece of real estate makes you money five ways. Cash flow of money in your pocket each month. Equity capture the thousands of dollars you create when you have the right team and by the right property using the right map. Appreciation. Real estate doubles in value about every ten years equity buildup. Renters pay down your mortgage each month and finally there's tax advantage we pay almost no taxes on our cash flow and capital gains. These are the five ways we make money in real estate. Which is why a realistic accounts for more millionaires in the world today than any other investment vehicle you should have some real estate in your portfolio. To learn how attended one of our free workshops call 18669718970. Or. Go to lifestyles unlimited Austin dot com and register for the next available workshop. That's 866971897402. Lifestyles unlimited Austin dot com. We'll save us from radio show on her coach Steve Davis. Phone lines are open at 8777115211. 8777115211. So we're talking about again. I've had this epiphany. Unions. Here's one of the first things that I understood. From my time in the Marines is that you lead by example. And that's really. One the only truly effective ways to do it in the end. But it can end the problem was sitting right and follow me if I hadn't done that yet. So a few years later. I was on vacation with my parents. And I was telling my parents what I was doing and I've even had some success by them not I have actually reached a point where and the income from my real state was paying my bills but I didn't have anything to superiors that makes sense. The worst month bills were saying 4000 month I was making 4001 dollars off my real state. So I had no spending money. But I still had earned income so that's where I was getting my spending money. And my dad looked at me and he said boy I'm glad you're doing that. Because what I did do more. And that was a very profound. Statement. It was a period. He had to control his ego to be able to say that. He had lived here about me to be able to say them. It was a very wise thing for him to say in it came at the perfect. Time. Because it certainly. Dawned on me what I had to do. I have to be honest with my children. Was not yet financially independent. And that we were gonna work through this together. To achieve that so that they would be able to achieve it even more easily than I did it. End. That particular incident. Made all the difference. When I would say things to my kids you need to do this or we need to do this. Because they re they looked at me and said look my dads are up they're saying do it. Because I should so. I was doing it because we were trying to achieve this financial. Freedom. End they respected that and actually listen to me in most cases and a couple times they did was to me in the right. So. Hounded and get them on the same page. Well I have read a book by meaning Anthony Robbins called unlimited power unlimited power. End in that book he had laid out an outline for how sensitive conditioning works. Associate of conditioning if you're not familiar with it right by the term. You all know though Juan Pablo being story. Of Pablo stalled. That if you ring the bell. Eventually they associate ring the bell feed the dog ring the bell for you the dog breed the bill feed the dog eventually. You don't have to have the food to give them the salad. That it is unconscious. It's a conditions. Are conditioned response. The dog is gonna celebrate where there's food there or not because of the bill does the bill has anything any thing to do. With the food absolutely no effect. But because it's a sort of suit conditioning it's been an associate of the conditions at the rightly so that. They're going themselves. So what I did is on new. From studying successful people that. One of the major characteristics of all of them was they were all lifelong learners they were all readers. And for me to achieve financial freedom it was a result. Of all the books that I read the classes that I took the boot camps that I took. Continuing education self education not formal education not high school coach. But self education. Was what helped me achieve it so I had to make sure that they were self educators. As well. So what I start my wife and I started doing from the town literally. Before they were. Walking. I would say within. Probably 48 hours we were doing thus we were reading to our kids. And what we did was you we subscribe to this service. By doctors who swear they would send you three or four new doctors whose books every single month. Until you got a library of like fifty or sixty of these books you know Bernstein barriers. Of course Dr. Seuss. And some of them I think were you know looney tunes just any book it doesn't matter. It noon to put them to sleep to get them to sleep I would laid a little infant in the bed crying and screaming. I just read a book and start reading the Mason. Every single time they stopped crying and screaming. And I would read it 45 maybe six of these books every single month. I'll tell you why we come back from the break. Our view this as I see you on the whole I'll give you the moment we do come back from the break. Here on the lifestyles one of the rules could Muster radio show thanks for us. What would happen if you didn't show up for work tomorrow. For the next couple of days for a week a couple of months a heat how long until you lose everything you've worked for in a fraction of the time it took different. If this fear keeps you up at night it's time to learn the strategies we teach it lifestyles unlimited start with the free workshop. Go to my passive income workshop dot com and find your true financial peaks like so many of our members already have. That's my passive income workshop dot com. Thirteen seventy. Yeah I didn't. Welcome back to lifestyles unlimited real estate mr. radio show must go straight to the phone lines for the good Austin talked to Ulysses. Thanks a lot for calling in how are you today. I'm pretty good thank you pick it couldn't call my pleasure. I have quote specific questions I have two of rental property. OK but initial one about my candidate over to a rental of management and and I've been doing 91 of the system. Bit they're giving the money but I'm actually I need to educate myself when it comes to accounting. Yeah I don't mean to my company's home. And my cooking it and you recommend a book. You recommend any kind of software or what should I go wow what should I be in the works which is not open completely count. Well we you know in our course we actually teach people that stuff and then we do you have. It's software that we recommend for our members. But. On single family. That you are actually only use. If people dread that drive people nuts when I say this only use a regular checking account but everything goes through that checking account. If I change a lock it goes through the checking account so at the end of the year on got a perfect report. Not so single thing which is not that hard. But you do need to understand it and start for the sales pitch but that's why you take a course like ours so you understand the whole business model. Including the accounting side of it. In it'll make you better investor it'll make you go much much faster. So check out our free introductory workshops first. Just go to lifestyles unlimited dot com lifestyles unlimited dot com and at the top of the page you say free workshop registration. And do your. Ever looked like a bomb also people who do you detect the bomb property absolutely. We have seen visually it's everybody. What the difference between doing what would defeat it with film and doing it a little bit company. Well. He is there's nothing wrong with a big company you could get lucky and find a really good real estate attorney. But you got to understand the 8020 rule. 80% of real state CPAs. Stink 20% are good. The top 5% of them are great. The power of being a member of Rhode real estate investor group. Is we've already gone through the 80%. To find the top 20% in the and to fund the top 5%. So you're gonna it's gonna be easier for you to find one in the group. But no there's nothing wrong if you get lucky you go out there and you find the good real estate attorney you can find them anywhere. Okay I'm okay and what again thank you this you take care. OK so anyway what was I doing what I was doing was I was conditioning. My children to be readers. I was conditioning my children to associate massive pleasure hugs kisses laughter. To reading. And it eventually. Worked. You know I never had to ask them to read the books I was reading they came to me and said what are you reading now. I never met you know now don't get me wrong I actually did give them a list to read but I'm I'm trying to make a point it wasn't that I had to go in there and say I want you to read this shut down and read this. No it was nothing like that. Nothing like that at all. It was what are you reading now oh here's a list of books and armory. If we're going to be financially independent we've got a master these books. Animal tell you right now the three that were the most important and I mention them at the beginning of the show so if you got the pin handy. Or you wanna pop you can always go back and podcasts that show. At lifestyles of limited dot com but the three books are the richest man in Babylon by George class and the richest man and a woman George class and the success seven spiritual laws of success by Deepak Chopra. The seven spiritual laws of success by Deepak Chopra. And then the seven habits of highly effective people and there's even one for teens now I'm going to be honest with you. Them being give you my opinion. I prefer the seven habits of highly effective people for adults. Even if it's a teenager reading it. It took me it was just the teen version. Is not that much different from adult version. But it is always better to go ahead and give your kids the adult versions. And teach them like adults teach them to act like adults live what kids are so dog gone Smart it. It's almost. Unfathomable. I saw I was watching TV the day and I saw this four year old girl who was playing concert piano. And she could read music degree I was like many. I can't read music. I can't read it. This little four year old man has mastered. The musical language. Could she not also master. Financial language you bet you bet so no matter how Smart you think your kids are you can be the most irritant. Parent owner can think you've got the smartest kids owners just what they're smarter than that. But you have to recognize. That they can go out and learn the wrong things just like we did. If you don't control. No that's the wrong word. I think it's better to use the word expose them to multiple ideas. And especially expose them. To the ideas that have been proven over decades and sometimes centuries. About five minutes that you. Okay. I really appreciate you all listening if you got questions form and remember you can email me. It's asks. I told you. Ask Steve at the old. Thanks for listening to the lifestyles are limited real estate investor radio shows remember that this show is for entertainment purposes only. I should not be construed as legal investing more tax advice results may very. Always consult a professional before making any financial decisions if you'd like to find out more about the mentoring available at lifestyles unlimited please visit them online and lifestyles of unlimited dot com.