Lifestyles Unlimited, 1/7

Lifestyles Unlimited
Sunday, January 7th

Lifestyles Unlimited with Steve Davis, for January 7.


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

Listen and learn how to use realistic to build wealth and passive income streams for you when your family. We bring you experts every day to discuss and answer your questions on everything from single family home. Homes all the way up to 600 plus unit apartment complexes. And now. The lifestyles are limited real estate investor radio show. Into the lifestyles unlimited real estate investor radio show on your host Steve Davis ware as always we're here talking about your. Personal financial freedom. We do so by talking about using real state to build wealth and passive realize monthly income streams the object of the game. Is to get your income from your real real estate or any business really good. Primarily we focus on real state because it's just the best way to do it. But to get the income from your real state to meet and exceed your wants and needs. Then you're retired. It has nothing to do with age it has nothing to do with working for forty years. It's all about building these past two streams of income. And the example alike to uses go out over the next five to ten years by yourself torn rent houses are gonna make 8000 dollars a month off. If your bills are 4000 a month and your twenty rent houses are bringing you a thousand dollars a month when you have to go back to work you don't you're retired. C does that have anything to do with working forty years or anything to do with turning 65 or anything like that. Absolutely not we have kids in their twenties. Who are already in that position they're literally retired by that definition. Now most of them have jobs. But if they didn't want to have that job they would not need it they've got their bills covered. And that's what this shows about it's about entering your questions about how to do that because anybody of average intelligence or higher. Understands passive income once and it's explained to them. But you say the I want some passive income but I don't know how to do it. That's why you should give you call. 8777115211. 877711. 5211. Call me with any question that you have about building wealth impassive realized monthly income streams. For yourself and your family with either groups of single family houses. Or little tend toward unit apartment complexes are big 800 unit apartment complexes. Just let me know what you need to know all share with you the best practices in the business model. So that you can do it. But you may call 87771152. Elevenths. 8777115211. Now on yesterday's show. We talked a lot about the difference between. Having a true desire for something and wanting something. And for this example you don't get to quote on those words. Because I did get one email. From person saying their coach always used the term wanted you got to want it and that was the big heavy. Passionate want to. And so he couldn't get past the fact that I was using want as the weaker of the two. But. It's just for this show. In other words don't get hung up on those words. For this show. Wants is what most people they want to be rich. And I'm gonna do anything about it. But they wanted it. Only the people with a burning desire. Are going to get out there and do something. And that was what we discussed on yesterday's show so brought up a email. Where an individual I asked me to talk about this concept. It's give yourself permission to succeed. Give yourself permission to succeed to gonna discuss that for a little. But I do need your phone calls. 877711521187771152. He left it. Well the concept of giving yourself permission to succeed comes staying on to the fact that most people are not giving themselves permission to succeed. And what I mean by that is that most people are in jobs. Or self employment. That they know. Can never ever take them where they want to be financially. But they keep doing it year after year decade after decade. There are literally people out there that have worked in corporate America for thirty plus years. And they think if they get another degree. Somehow that's gonna make them rich. But unless I see that I saw somebody. Somebody emailed me just a few days ago late fifties. He says some a year and a half from my masters. Are you kidding me. So the college education didn't feature rich before but somehow no kidding no more college education. It's gonna make you rich. This is a form of insanity. It's when you do the same thing over and over expecting a different result. Why would somebody do. It's very simple because they don't know anything else to do they're grasping at straws. They're they're just doing they're desperate. I think I. I don't know how to own reinstating I don't know had owned a business. And I'm not gonna go learn. Underworld and I'll get more formal education. I'll get another degree I'll get a master's degree that's what I'll do. That's exactly how it happens as dumb as what I just said it is that's what happens. And does it make sense now when I say most people are not giving themselves permission to succeed. Because they're not in endeavors. They're not employees. And they're not they're not employed in a system that's designed to make hemorrhage. They are don't have a self employment that's gonna make them rich but they keep doing it isn't just don't know anything else to do. And I do not consider myself smarter than anybody. But for some reason I figured that out after five years in corporate America. It's in the five years I was broke. What I did the math. If I'm gonna work forty years and after five years I've nothing to show for. I'm there working eight times as long so eight times zero is watched. Zero. It's in the forty years all have zero. That was different. Than like who you know this doesn't work. Am I gonna do this for forty years. Or you could even be more positive and say well after working five years like twenty grand about it okay great multiply that times they. When you retire you have a 106 degree then you go over to our 460 grand. No you're not. Then I did the other men. How to get to a million dollars. And still be young that was important to me so I said let's give it twenty years. One million divided by twenty. Is 50000. Dollars a year. That I would have had to have saved. From my job. After taxes. After insurance after car notes after kids after spouse. After paying for all that. I would have to say 50000 dollars a year for twenty years. Guess what. A woke up on what I hope that's not gonna work. I've got to do something different. I've got to do something different. And that was sort of started buying the books and she's a late night TV. On real estate investing because I knew real estate accounted for 70% of the millionaires. And I'd already learned that you were supposed to imitate successful people. So I said yeah how many imitate successful people successful people in real state that's what I'm gonna do sort of start on the books and CDs. Now. And boot camps in such you know. Throughout all. I never bought one single piece of real state and I've spent literally. Close to 20000 dollars probably more than 20000 dollars on all out. And don't know realistic. But then I joined lifestyles and limited got a mentor. And I didn't deal within a month or maybe it was two months. With a my first too much founded in the first month in a close to the second month. What I had done is I had switched. And given myself whose permission. To succeed. By being in a vehicle. That had the potential to take me where I want it to go which was financial freedom. And I started using real state to chunky in these income streams. 200 here 300 beer can back them up all the careful we're did not single frame houses hundred books tuna boats. After everything you know. Maintenance management. Principal interest taxes insurance now we're making 400. Sometimes 500 will sometimes 600 author ever else market has changed. But anyway I trumped in those income streams that I got a little torn to unit apartment that I got an opinion on apartment that I am 23 unit apartment. The forty unit apartment. Till the income from all those. Made me funny actually free. But what changed. Was I suddenly smarter. We are working harder no I was actually working Wayne loves. Cause I was working sixty hours a week when I was working I worked may be. I don't know ten hours a month fifteen hours a month. To run all that property. What changed. By simply switched vehicles. I now had the potential. To get to where I was going. So that in a nutshell is the entire concept. Of give yourself permission to succeed. Look closely at what you're doing. Be objective. Check your ego. Because the eco is gonna tell you right no you got to stay the course cuter more informed period. Keep your money your arteries and shrimp and say even climb the corporate ladder that your ego talking. It's pure ego. Because. Logic. We'll do the math. Logical say they have worked fifteen years by another show for. Double that's we'll have not retire. I have nothing when our it's our. You've got to give yourself permission to succeed. By being in a vehicle that can take you where you wanna be okay this is the lifestyles unlimited real say mr. radio show. I'm your host the Davis you've got a question for me give me a call 877 and 7-Eleven 5211. 8777115211. Thanks for this. 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 -- found that they've 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 four week big 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 and don't realize they can start creating passive income today. Within that confines of their schedules and commitment. Want to get started now go to might passive income workshop dot com. That's my passive income workshop dot com. Drawbacks you'll ourselves on the lives of real estate investor radio show your hosting Davis phone lines are open at 877. 7-Eleven 5211. 8777115211. Or you're welcome to email me it's asked Steve at W I NC dot com. Task Steve. At W. I NC dot com. Now got a question here about why we don't believe in diversification. From an anonymous listener. Her. Spouses listen. So he she wants me to address it. The reason we don't believe in diversification. Is. As many layers to it. The first I think is the simplest. Then it is that Andrew Carnegie. Well let's ask this question. Finish this sentence forming. Don't put all your eggs was. In one basket. And I guarantee that every single person listening this radio show got that accurate. You god don't put all your eggs in one basket. Now that is the poor and middle class believe. Let's go to a billionaire's beliefs for a second. Do any of you know what Andrew Carnegie. And billionaires had about diversification. Over 100 years ago to the American people. Here's what he says he should put all your eggs in one basket and spend your entire life making sure nobody kicks over your basket. Doesn't that interest and I guarantee less than 3%. Of the people listen this radio show could finish that sentence. But a 100%. Could finish the poor and middle class belief don't put all your eggs in one basket. But only 3% cause optimism from 3000 people have done it in front of thirty people it's always about 3%. Know with the billionaires. Don't I'm sorry they say put all your eggs in one basket spend your entire life making sure nobody kicks over your basket. If you look at more contemporaries. Sam Walton Warren Buffett Peter Lynch. All call it do you worse of vacation in most cases. Do you worsen vacation. No this is important. Is diversification. Always bad. The answers now. There are some rare instances. Where diversification. Can work out who the but it's so rear. That it's not worse. Bothering well. It's kind of like the idiot who doesn't Wear his safety belt. Because 7% of the time is more dangerous to have your safety belt on and have all. So even though 93% of the time. It's better to have your safety belt on. There are people out there I've met them. That don't Wear their safety belt because 7% of the time it's worse. This is the same thing with the virtualization. On going to be diversified trust in place. Are you go for. Here's the next main reason we don't like diversification. See the people that tell you to be diversified our primarily your financial planner. And the reason that they tell you'd be diversified. It's. Simple. They don't know what they're doing. Think about this. If they knew. They knew. How to get through 20% rate of return. What would they tell you put on your money and if they knew it. They tell you put on ammonium. But they don't. So what they do. Is they say. Put a little in this that makes 20% from little in this that make you 10% for little in this that make you zero put a little in this that loses your 10% total when this would lose you shoot 20%. Call diversification. What's the average of all that zero. That's why you're used to getting to 3% rate of return you're happy with the 'cause of diversification. You feel protected. Who. You've got to focus. I don't know one millionaire not one. And I know a lot of new winners two simply because of the business hundreds if not thousands. None of them are the horse farm. None of them they're all masters. Of one thing. Now did injure Carnegie street preacher ache in one basket. He said butcher the aches. In one basket. And so what we do is we use groups of single family homes little apartment complexes big apartment complexes. We do you have multiple eggs in her basket. But it's all one basket real estate. And we focus and win because we're focused because we minister because we spend our life making sure nobody kicks over a basket. It's also the phrase mind your business. Mind your business. Okay we'll talk more after the break this is lifestyles unlimited real estate investor radio show on your host Steve Davis. Call me 87771152. You love them. 8777115211. Thanks for the. 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 that you can't say thank you enough skill for that. If you were to ask people if they could vote on the top ten guys. That help other people you'd be one of the viewers no doubt about it here. Have this roadmap of holy success stories I'm just want to just. One person out of the thousands fantastic success story that each and every person can learn from that's my life. Take Curtis Haines advice come meet felt like minded successful investors who are helping others just like dale helped him. Attend the workshop get 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 18669718974. Due to lifestyles unlimited Austin dot com that's lifestyles unlimited Austin dot com to register for the workshop or change your life. Welcome back to life tells unlimited real estate investor radio show your host Steve Davis. Phone lines are open right now and 8777115211. 8777115211. Or you're welcome to email me it's ask Steve I know you I NC dot com ask Steve and no you on NC dot com. Got a couple of emails here asking about our introductory workshop. I cannot reserve you receipt for that you've got to go to lifestyles unlimited talk home. Lifestyle so I'm limited dot com and at the top of the page you'll see where it says. Free workshop registration. Free workshop registration. Just click that and give him or outline of the class and allow you to reserve a seat and make reservations right there. So again please don't email me about the free workshop I cannot reserve your seat for that. Go to lifestyles on the dot com lifestyles unlimited dot com. Okay got a couple of emails here that are rather gleefully I'll save those for a after the radio show. We do have one question here from Cynthia. She's got about 80000 dollars and this is tough when people have that number. For around that number. You really want to look Cynthia at both single thing namely the end apartment. You have enough money to invest passively. In someone else's apartment not really enough money to buy your own apartment even though you might get lucky in my little foggy senator such unit. But. He's probably gonna make more money. By investing passively in a larger apartment complex. With other people. So Cynthia you could go either way. I know that you have run single thing in the before so you feel comfortable with that. But you're gonna make more money in the long run with the apartment. So yes you are today class we do go over both the single thing in the business model. As well as the apartment business model and that way you can make a decision after you take the tutor class as to which ones work best for you. So I hope that helps and you. Kate phone lines are open at 8777115211. 8777115211. Or email me at ask Steve. At W I NC dot com. Ask Steve. At Ole UIMC. Dot com. OK next you know question is basically. About the five ways the real statement she money. What is equity capture. Oh that's OK it's just a simple question what is equity capture. Equity capture. It is the difference. Between you're all in price. At the end the actual after repaired value. Toward the appraised value. Example. If you go out and buy a house for 50000 dollars. It needs 20000 in repairs that's seventy. And you have 5000 closing costs us 75. And it's worth after repaired value. Is 100. That's a 25000. Dollar equity capture. Equity capture now the deal I described would be very load down to be less than 101000 dollars to him less than 101000. If you do a cash on cash rate of return. Or rate of return on that I should sessions or cash on cash. But if you look at your rate of return if you put 101000 end of that deal. And you picked up 25000 dollars worth of equity. That's a 250%. Rate of return. And this one's always fun because people always argue with me. And a nice way. But they'll always say we'll Steve. I'd put money in my 401K. Because I get a 100% rate of return they match up to the first 6% of what I earned. If I put it in the 401K. I just showed you how to make 250%. Rate of return and there's no limit to. Why would you use a form ten. Wrong vehicle. To sit here and he is people not knowing. Since most people don't know how to make over a 100% rate of return they look at 7% rate of return it's incredible. It's not incredible. We do it all the time. Every of the last fifteen. Single family houses I applaud you for. Fifteen. I've made over a 100% greater return everyone on. Every one of and in this market that's pretty common in the down market that's when you make the 200% ready to return the 250% rate of return. So that's equity capture. And that's why we don't use for another reason of many. While we don't use for one case because we don't care about that a 100% rate of return we can do on our own with no limits. K phone lines are open. 877711521187771152. You or email me. That asks do you know you by MC dot com. Thanks for those. 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. Printers 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 made money in realistic. Which is why are realistic account for more millionaires in the world today than any other investment vehicle you should have some real estate in your portfolio. To learn how to attend one of our free workshops call 18669718970. Or go to lifestyles unlimited Austin dot com and register for the next available workshop. That's 8669718974. Go to lifestyles unlimited Austin dot com. Thirteen seventy. Welcome back to blood cells unlimited real estate investor radio show knows Steve Davis. Phone lines are open at 8777115211. 8777115211. And remember you can ask me about anything. Doesn't have to be about the subject matter uncovering or anything like that. If you got a question about you lieutenant. Meg you've got four or five houses and you wanna know what to do next. Or you've got a question about the transition from single thing lead to apartment. Give me a call 8777115211. 8777115211. Or email me at ask Steve. At Ole URNC. Dot com. Ask Steve and bill you on C dot com got an email from wrong with five single family houses paid in full. He's making about 5000 dollars a month profit that's after principal interest taxes insurance. And is curious why we don't pay for our properties in full well think of it like this. If my and I'm just gonna go low and assume your those are 150000 dollar house. What you're sitting on is 750000. Dollars. If you take 5000 dollars a month and multiply that times twelve. That give you 60000 dollars a year. To keep your rate of return you simply divide that 60000 dollars bond the 750000. Dollars or so you've got sitting there. Well that's less than 8% rate of return. Less than an 8% rate of return. If you took that same 750000. Dollars. And put it into an apartment complex you probably make if you rent yourself. And you could buy something pretty substantial 3000004 million dollar property. You could. You could be making 20% rate of return. Or a 150000. Dollars a year not just 60000 dollars a year that's why we don't pay them fold and that's why you shouldn't. Have five houses sitting there it's what's called dead equity debt equity. You always wanna use leverage. Now win. Or mortgage. When I see questions like this Ron I have a tendency to find out later on that you're a Dave Ramsey Lewis sir. And Dave Ramsey thinks that all debt is bad debt and that's just not accurate at all. I agree with him that consumer debt is bad debt. Your home. Your car's credit cards things like because that comes out of your pocket every month. But there is a good type of debt its income producing debt. Income producing death one a couple million dollars more debt this year. Maybe even ten million dollars more dead this year love it. I've been involved as much as eighty million dollars worth of debt. I love that. Why she's in because it produces. Income. So you've got to make that distinction in your head you can have a respect. For. I'm Dave Ramsey but you also got to understand. That nobody's perfect including myself. And he is definitely mistaken. When he makes a broad statement that all that is bad all that is bad. Another reason why he doesn't like that it's because he I believe he lost some real state. And he blames the debt. That he had on the real state for why he lost will let me tell you something he would have lost it either way. Because you still have taxes and insurance depend. There's no such thing as debt free real estate investment. You're always going to have taxes debt on the taxes and debt on the insurance and of course the maintenance. He ran those properties into the ground as he did know what he was doing I have never in my 27 years. See anybody lose a property simply because they had a mortgage. Never because it doesn't happen. Kate from want to open at 8777115211877. 7-Eleven. 5211. Or email me. And ask Steve and build you onions C dot com ask Steve. That pill you onions C dot. Com. To let's go we got a couple other long emails. With multiple multiple questions ominous save those till after the radio show I'll email you after the radio show and she thought I don't know the short when here. Yet this went from fairly simple. I've got us it's the third. Or waited until it's the fourth and yeah it is the fourth. Got an individual here who one of the tenants has not paid rent yet. What they do today is the day to get that three day eviction letter out you need to deliver the three day eviction letter to that today. And then three days from now you need to be at the courthouse registering for the eviction. We'll talk more about this when we come back from the break. Here on the lifestyles unlimited real estate investor radio show called me at 8777115211. 8777115211. Thanks for most. What would happen if you didn't she look forward 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 keep you up at night it's time to learn the strategies we teach at lifestyles unlimited starts with a free workshop. Go to my parents who didn't come 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. Cost thirteen seventeen and. To blood cells from. Unlimited real estate investor radio show we are in the final segment of today shows that you've got a question for me to call me right now it's 877. 7-Eleven 5211. 8777115211. So we're talking about someone who's not pay the rent I think it is the fourth. Our notes at third. Just the third but still. This is this is the day that I put it out I thought your daily. I would give the treated eviction notice and the key to this is if you run into them. Do not get upset. Do not raise your voice. This is just business. And when you continue the UIC that you tried to call them. And they're not calling you back but if you do get a hold of them again don't raise your voice. It is very simple. Can you pay the rent Noah K. Okay great can you be out in three days. No I'm not mad that you among met you but can you be out in three days I'll have the three eviction notice over there this afternoon. Did over their put it on the front door I also like to mail it certified mail. And get the eviction process move it when you hear people say or took me sixty days to get the Stanley out their long. Here's what happened. They said on the third when they didn't have their rent. The Tenet called them so who among pin on the fifteenth. Had a bad time my mother died my. Dog died this that the other near boulder cheese's. In that person's okay. All right I'll put you on the fifteenth. In the fifteenth comes around and they don't even get so much is a phone call from Tim. The 22. Comes around the 29. Next thing you know it's the first of the month again. And they haven't followed they're treated fiction muttered yeah. And then finally because it's another month they get the guts. To get off their butt and go to three days eviction water. And then it takes about 21 days so in their brain it took sixty days to get them out. No it was because they didn't fall for eviction on the third. When a Tenet is late on the third skip the treated fiction now start the process. Now wears an exception to this rule. The exception would be. If somebody who's been with you for four years. Maybe salutes a year. As always paid on time. Calls you. On the 31. Insist look I'm in trouble. My mother did pass away whatever their reasons. Can I please pay you on the fifteenth. Now they've been with me because it always paid on time for your on probably gonna say sure. But what am I sending out on the twelfth. The three days eviction. Now what's gonna happen is on the twelfth when they get that through fiction they're gonna go. Ring ring hello. Steve authorities that I have to look fifteenth. You do. But if you don't show up on the fifteenth and I have the eviction process begun. I just have to cover my rear end. In case you're not being honest with me no worries if you're gonna pay me on the fifteenth no big deal. And that's into the conversation. And you never raise your voice don't get ups that's just ego that's just power. That's just stupid. End completely in effective all you can do start a war. And do you need to warn your life. Now you just need people out. So stake home. Remember it's just a business. In these are still human beings we still care for them. It's just the real state is not your charity. Have your charities on side kick from your cash flow inhibit maturity. But your real estate is not your charity. Get them out and get someone in there who will play. OK remember that my follow my email is opened to you 24 hours a day seven days a week. It's ask Steve and I told you on NC dot com ask Steve at LO UI and C dot com. And please be aware you will not be put on an email list. It's simply an email to me I don't have a raw water system answering it's an email to me. I'm simply email you the answer back. Or ask you a couple of questions to clarify that whatever. But it'll just be a conversation between you and on and you're welcome to email me 24 hours a day seven days a week. It's ask Steve that told you I NC dot com. Ask Steve. That told you I NC dot com are the tone for maybe one more email. Oh here's another question about the free workshop. Again if you wanna go toward free introductory workshop which everybody if you were spending your time listening to the show. You should definitely listened of that free two hour workshop. Go to lifestyles unlimited dot com. Lifestyles unlimited dot com and at the top of the page it will say free workshop registration. Free workshop registration. Just click that choose their office that's nearest you. It will give you dates it'll give you the times it'll even let you reserves the right from the website. So again check that out I can't reserve your seat for the free workshop. Due to blood cells unlimited dot com lifestyles unlimited dot com. Part one last time. Remember my email it's ask Steve until you are in C dot com. Ask Steve at LO URNC. Dot com. Thanks for listening it would hurt us today. Thanks for listening to the lifestyles a limited real estate investor radio shows remember that this show is for entertainment purposes only. And should not be construed as legal investing or text advice we don't think they're all. Always consult a professional before making any financial decisions if you'd like to find out more about the mentoring available at lifestyles and limited please visit them online at lifestyles unlimited dot com.