Lifestyles Unlimited, 7/16

Lifestyles Unlimited
Sunday, July 16th

Lifestyles Unlimited with Steve Davis, for July 16.


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

Keep up with the latest breaking news in Austin and around the world take allow it to make sure you're following us on Twitter at top thirteen 7011 trading began. Just one more way to stay connected with top thirteen seventy the right choice. The lifestyles unlimited real estate investor radio show. A real estate investment program. Listen and learn how to use realistic to build wealth and passive income streams were you when your family. We bring you experts every Tuesday to discuss and answer your questions on everything from single family home. Homes all the way up to 600 plus unit apartment complexes. Lifestyles are limited real estate investor radio show. Good morning and welcome to the lifestyles unlimited real estate investor radio show on your host Steve Davis where it's always we're here talking about more personal. Financial freedom. This is also sometimes referred to as retirement trying to get the point across that your life is a business. Your family is a business it's got income that's got expenses. In your supposed to run at a profit. And the other major point is that retirement has nothing to do with the age. I've talked to people all the times in there all the time in their late fifties early sixties. And they'll say to me I'm headed towards retirement. Because they think it has something to do with speech. And it doesn't. Look at their finances are look at their savings on look at their cash passive income they have none. They're headed towards retirement. They're not headed towards retirement. They're gonna work the rest of their lives. Meanwhile we have twenty year old who are retired. People in their twenties. Who are retired. Not because they're smarter than you know because they were part of the new they just had a different business model. And again this is going back to that point the true fame is a business in their you have a business model where do you want to admit it on. In most people's business model is to scrimp and save their way to retirement. They try to come up with some imaginary number. That they think they can't outlive. They retire and then begin praying they die before they run out of money it's a horrible business model and it's an epic fail for American 95% of Americans. Failed to retire by age 6595%. 36%. Of that 95%. Are dead. By sixty for a so the golden years are golden line. You know when the golden years are today. Where there in your 20s30s 40s50. Golden years are today but you've got to make them the golden years because you're not gonna get golden years at the end. Like the like the big sales pitch it is in it is just that it's a sales pitch. To try and get you to put off living there now. For this wonderful. Golden years. You know use that you see the commercials. You see the older couple walking the beaches of Greece on a cruise ship visiting the green it's a whole lot. Tola. But there is good news. The 5% who do retire successfully before or at age 64. Have one thing in common. They all businesses and real estate. Just what you better do. You their own businesses and realize that. In this case the show was solely about investment income producing residential. Real estate everything from single family houses to 800 unit apartment complexes. What we do as we go out and we by groups of single family homes. Couple little apartments are one big 234800. Unit apartment complex. That produces cash flow for us for the rest of our lives. Whether we live ten years in retirement or what my son who's gonna hopefully the fifty plus years in retirement. This is the business model that works. The example I use is go out over the next five to ten years. By yourself toward any single family homes. You're gonna make about 8000 dollars a month after principal interest taxes insurance maintenance management. Because make about eight grand a month if you're wise. You'll keep your bills around four grand a month that's a couple of car notes house note toothbrush toothpaste and if your bills are 4000 dollars a month and you're making 8000 dollars a month off your real state when you have to go back to work. You don't. That's retirement. That's financial freedom. Now every one of you. With average intelligence or higher. Are now saying yourself. Who. Boy that would be nice. I would love to have 8000 dollars a month some of you more than there. 8020000. We've got students was over a 100000 dollars a month in passive income. You say that would be nervous. But. And what comes after that but is what this show was about. When you say but. I don't have the time but I don't have the money but I don't have the credit but I'm afraid attendance but I'm afraid to taxes I'm afraid to toilets I'm afraid of this I'm afraid of that. I want you give me a call. Tell me why you think. You can't go out there are Monday tomorrow morning and start building wealth yourself and you're saying we were thrills what's keeping you from doing it. And I'll share with you the best practices in the business model that will overcome your fears your worries your excuses. And allow you to do what we're doing. So give me a call at 8777115211. 8777115211. You're also welcome to email me. My email was opened you 24 hours a day seven days a week he will not be put on a mailing list it simply an email to me. And these are for the people who are little shy or maybe your work or in the car and you can't call. When you get stopped in your safe place. Email me it's ask Steve. That the old URNC. Dot com. Ask Steve. That old you ink dot com bill you ink dot com. Okay well we're gonna talk about today are two distinct. Types. Of people. In other words. When I used the information now on this radio show. There's two distinct groups of people out there in the interesting thing is they hear two different things. They hear two different things. What they are is the pace type a personality. Like myself. And the beach type personality. This would be more along the lines of Dell if you listen my partner show. Is his show was called the bill won't sleep radio show he's my mentor. So both shows are owned by lifestyles unlimited he owns lifestyle limited. And you should really listen both to get both points of view. We say the same thing that we see it differently. And so a lot of people it had sent me and I listen to your show and I got XY NC out of it. Allison and also the same thing and learn for five different other things. So it's it's really beneficial and you can find out all of the schedules. For all the shows. Like shelves unlimited dot com lifestyles a limited dot com just click on the radio to. Let me give you an example. Of a recent daytime personality. That he emailed me. What I did was. I was doing an example. Of this zero down deals. In on no less than three occasions. At least three times during the presentation of the zeroed in on deal but said. These cannot be found easily in today's market. I said. These deals are few and far between. You these deals will not be your bread and butter meaning there are gonna run your business off from zero down deals. Then I did an example of a zeroed in on deal on this would be with a hard money loan. It's where you find a house that's worth 100000. Dollars. That you can buy for fifty. He needs 20000 dollars worth of work. In it has 5000 dollars worth closing cost to get the loan to do to deal. That's 75000. Dollars total. That is as he wrote them the with a hard money loan. Zero out of pocket. So I get an email. From an A type personality and you'll know why no reason daytime personality. He emails me. It goes me and that is awesome. Obama would join your group on the trot about two NC room deals this year. See the beach types. Heard everything I said. And they said while she rodeo and deals don't exist. But the A types. Went. I'm gonna run my career off of zero down deals. See it's the same. Material. But those two people. Hear it differently. They hear it differently. Am I of course email impact instead I don't think you heard the whole presentation. These are few and far between. So if you'll notice. Both the eight time personal team and the beach type personality got it wrong. Both of them. I didn't say they were no zero down deals. I had a banker the other day tell me. A mortgage broker a moment tell me uncertain right now with the same god. He's going to houses zeroed in on the sitting on my desk right now. So like this they're few and far between but they do exist with a B types got it wrong. In in the eight touch got it wrong because they think every deals he Rhoda. So let's pick on the daytime personality for a little while because that's me nominate type personality. How do you know if you're an A or. Let's first define the days some characteristics. Of the A type personality. If you've got bad credit. You're probably in a type personality. If you have no savings. Your probably an A type personality. If you're living in a 400000 dollar house. And driving 60000 dollar BMWs. With a Rolex on your arm. And you have no passive income. You're in a type personality. Three dominates our personnel are that bad could it twice in my life. A completely repaired my credit paid off almighty that infinity here and. Are we'll talk more after the break here on the lifestyles unlimited real estate investor radio show on your host Steve Davis. Combing an 87771152118777115211. 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 the past having found that they want 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 in your portfolio go to lifestyles unlimited Austin dot com. To access our free live training events scheduled. 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 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 my passive income workshop dot com. That's my passive income workshop dot com. Hi this is Gordon Deal join me weekdays 4 this morning America's first news hear the stories you'll be talking about and searching for all days as we go beyond the headlines and up all the chatter weekdays at five on talk thirteen seventy. 57. The radio show host the Davis. These junior college you've got a question about anything to do with residential real estate investing and starting to build these passive in the country for yourself in this game. Virginia colony 777115211. 8777115211. So we're talking about the eight type personality you know poking fun at the end type by poking fun of myself. Because the problem with the eight type. Is that. They can't do anything. The reason they can't do any thing is because they can't save money. And they have bad credit. So there's no buying income producing assets. They shoot themselves in the foot at every opportunity. But what's good about the anti personnel. They're courageous. They're fearless. They're willing to take risk they're willing to move forward. Towards their goals so the eight type personality has some very theory good characteristics. Well if you're too far towards the day. If you're too far to Lou will call two left. If you're too far to the left. The end. You you have the bad credit you can't save money. And even though you're willing to do it you can hit because you've shot yourself in the foot. Let's. Pick on the p.s who probably thought they were safe. You're just as span. You can do it. But you won't. How do you know you're being. Have a little bit savings. Very little credit card debt issue any. You're credits stellar six say you're above. But you won't do it. You sit there. And analyze everything nice. As soon as the radio shows over you go spend thirty minutes on the Internet checking my shots. The end. After you check them. Even if you found out that there are effective or accurate. You go well I still need to think about this. And you do nothing. That's for. Ultra bees. Altered Beast have just the worst analysis paralysis. That you can imagine. And it keeps them from taking action on anything. Their fear based. Their risk adverse. And they failed financially to. So what we've learned over probably the first I guess who's probably. I see it took us ten years to really recognize. That. It was an they type in that dole was a beachside. And as he was mentor me. What I started to do. End he did it is well. Is we started to wealth while he thought I was a whacko a type personality and I would never be able to do it. And I thought he was a black obese type that would hold me back and hold himself back and never do any thing. What we started to do over time. Was we'd begin to respect. The good qualities. That each of us have. In other words he moved from an all true B. To repeat day. I moved from an ultra okay. Two and AB. And that's. Where you get things done and be effective. See if you were to end in a marriage. We're urinate typed in and we'll just choose one example. In your wife is a beat type. You realize that you're in the best possible situation you can being. You probably argue all the time about money. But that's actually the best position you could possibly be you because what you can do. Is. Stop fighting. Start recognizing that you're crazy beat type wife is actually right. But it also takes her. To realize. That you're right to. In that. By combining the two personalities. The day in the B type personality. And respecting. The points of view a boat. And starting to incorporate the good qualities. Such as I. Start go back 27 years. I bought everything that I could get my hands on. Everything I can get my hands on my radar rate of return was probably the lowest of any bodies. Why. Because I didn't do the cash flow analysis properly. I imagine I was gonna change things I'd imagine I'm gonna do this then the other. With the property the ball ridiculous things but it was my age type personality that told me that. All right we'll talk more after the break please call me at 8777115211. 8777115211. Thanks for listen. Longtime lifestyles member Curtis Haines a real joy for me looking back. Is helping others and I wouldn't be able to have done it without the support of lifestyle they just can't say thank you enough feel for that. If you were to ask people if they could vote in the top ten guys. That help for the people you'd be one of them there's no doubt about it if you have. This roadmap of cold success stories on this one I'm just. One person out of that thousands fantastic success story that each and every person can learn from that's my advice. Take Curtis Painter 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 18669718970. Or go to lifestyles unlimited Austin dot com that's lifestyles and limited Austin dot com to register for the workshop it will change your life. If every talk radio program for the same. What would be the point the Michael very shows a little bit different. We're gonna talk about politics we'll also talk about how great it is to live in Texas weekdays five to seven on talk thirteen seven Michael variation. Thirteen seventy. The faster radio show your host the biggest moment. 87771152. And eleventh. 8777115211. Or you're welcome to email me knowledge of the question love on the air. An anonymous and at the top of the email. If you don't want to use your name it's ask Steve. That the old you ink dot com asks these. That told you I NC. Dot com. So got an email here. That's basically asking why I think a the best situation is to have an a and B type personality. Myriad. Because he's. Married to an A type and he's in she's in a tight and we don't argue much. Well. The reason you don't argue much is because you're gonna agree with each other right into poverty. And think about it if you've got to flawed personalities. Too extreme days like he describes himself. You were. You'll agree with each other. You won't fight march. But you won't get the result. That you want or need. So two days Mary can be very very dangerous. The reverse can also be true went to extreme case that you fight constantly. Because your both wanting to take different directions. You both think you know the path to peace to love wealth health and happiness. And you fight over which path is right so that that there can be some fighting between the two ways but as as a rule to raise in two b.s. They're not gonna fight that much they're going to agree with the each other straight in the poverty straight into working for the rest of their lives. So that's why I say. You know a business partnership like bill I have had for thirty years. It is very much like a marriage. And it was just the exceptional. For our result. That one of us was an A and one of us was a B we fought like cats and dogs. Until. I started to respect that you know maybe I should to a little more due diligence on these deals. And he says maybe I should take more risk maybe I should push myself forward a little bit more. And so when we combined the two. We were able to achieve things that we literally. I'm not kidding you didn't even have written down his goals. We've achieved. Stuff that we never thought we would achieve. And I credit default. Too moving from the day in the B to the AB type personality. And so I hope that helps. Phone lines are open at 8777115211. 8777115211. Remembers your little char you feel like you've got to dumb question. Please call anyway used a fake name. But get that question answered I promise you there are no dumb questions. Was a health club instructor when I first started. Investing in real estate if anybody asked dumb questions it was me so I'm very sympathetic. To these supposedly don't question. So give me a call 8777115211. 8777115211. Now here's another B here's another email from a gun in Spain and there was a B type personality. It. This thing and he basically says he's been listening to a radio show for two years. There should be cut. Has done nothing. Still hasn't bought any income producing real state police listened to Bill Maher show for two. Years. I don't think that you should loosen the show for more than two months without taking action early donor I even think that that's a little bit. Extreme. To take two months. Before you got their start writing offers. And getting some passive income for yourself and your fame. But stand. Yes you are being taught personality. Even the rest of your email indicates that your because personality. You recognize it but I'm trying to tell you you're an extreme. Anti personnel to I don't think that your. Comment. Almost I'm leaning towards Obama be leaning towards an A I don't think that's accurate because. No eight type personality is gonna listen to the show for two years and not take action. Period. So be a little hard on yourself. Admit you're a massive B. And make a greater effort. To get out there and take action on watcher hearing on this radio show. So that helps been in phone lines are open and 8777115211. 8777115211. And of course my emails there for you and it's open to you 24 hours a day seven days a week. It's ask Steve and kill you on NC dot com ask Steve and they'll use audience see. Dot com. Remember you can always find us on more than half lifestyles unlimited dot com. Lifestyles unlimited dot com thanks for listen. 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 the 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 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 or call 18669718970. Or go to lifestyles unlimited Austin dot com and register for the next available workshop. That's 86697189. Sympathy for them to lifestyles unlimited Austin dot com. Take a talk with you anywhere we'd be on the news talk thirteen seventy app lets you. Keep up with the latest breaking news and our search for top thirteen seventy in the App Store or find the links at top thirteen seventy outcome in January need sock thirteen seventy right choice. Thirteen seventy. I. So it's a real estate investment radio show me coach Steve Davis phone lines are open at 877. 7-Eleven 5211877. 7-Eleven. 523. Levels of San Antonio Texas now and talk to Bob Bob thanks up calling and how are you today. They are quite great block along and did. It was PO I own property there are orchestra at the we're actually bowl birdie exit prep. Property and a corporation is true block one of them has developed out that I remodeled which went way overboard. Voted no to. And not the other one to vacant lot and I'm thinking about building. Is that. Why he'd be good we're built right. In that workers does plug into your sponsor. Huge usually. A vacation home is had a vacation style home is it on the beach or where is it. You can walk due to bitching here. Want to position. Does the cap is somewhere around 150 daughter 60000 dollars of that ever. While. You know that's going to be tough to even build something. Of any student normal square footage 1511617100. Square feet. It's going to be hard to build it in cash flow. And that's also the construction business so that's a different business not only do you have to learn the rental business model you've got to learn the construction business model. So I don't like it as a rule. I would rather see her look so the one that is rented that was worth about a 150. Yeah it. Can't they're actually at 165. And I'm at a high end of the Beirut Cooper went way overboard. You know. So it's probably worth over 165. I've built a bike I would live there was probably a mistake. Yeah it generally it is you just want a clean functional. Property. That's identical. To everything else in the neighborhood. What is it what you owe on that one. Oh. I felt ultimately help aren't corrected and you know I learned a lot less boost our per our ability to convert what are you. Yeah yeah no I was contemplating building from courage another home on the other property they are together or. You know our gun control always to block there. And you're still over there. There's a problem with that being paid in full that's dead equity. Even if you're getting full rent to own that they paid in full house is only gonna give you about an 8% rate of return. Whereas if you would refinance that poll lady personnel. And then you only have 20% in it you rate of return would jump up into the 20s20%. Plus rate of return. So that is one strategy that you could use. Then I would take that money you know that 100000 or more that you could pull out of that and go about four or five more revenue else's. All would mortgages we never pay off for real estate investment rules they never. So. You've got a lot of opportunity there but you've also got the opportunity to do an apartment. To invest in apartments which would be an even higher rate of return in the long run. So you've got a couple of options there I can tell you if it were me I would still alive I would sell that house take all the money. And go by a bunch of 150 or less thousand dollar homes. And get my cash flow gazillion assay that things worth 175. That's probably about seven. You could sell that what's a lot worse. Thirty. So that's gives you over 200000. Dollars good lord. You could buy a small apartment complex with that horse 810 houses. With. And you know they'd houses is gonna bring you rate 1624 about 3200 dollars a month Tim hills is gonna bring about 4000 dollars a month. That's after principal interest taxes insurance maintenance management. Yeah I'd give them money working harder. For you bump. Underwhelming one Rangel I don't other companies and at that house is being ready to back to one of my company. As being who helped by I have made critical around the world and we have a contract there are you to rent it out to myself basically. And then the really fun you would probably be the best if you need that for your business and don't sell it. But I would Sobel lot refinance about bingo Bob more houses that are income producing and producing income right now. I'm capability of building com. No it's not dome it could be pulled off is just a dollar per square foot to build right now at a FHA standards. Is so hard. It's very hard to build a house for 12050. Very hard. I was there. Where you give me think about how will get into the program public identity of them are you know here. Yeah we do we have a similar are there in San Antonio we got to go to break some have to let you go Bob. All right this is the lifestyles of unlimited real estate investor radio show thanks for listening. 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 and 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 start with a free workshop. Go to my parents who didn't come workshop dot com and find your true financial piece like so many of our members already have. That's my passive income workshop dot com. Keep up with the latest headlines from Austin and beyond on the all new talk thirteen seventy dot com state court with the latest news weather contest anymore it's all just a click away had talked thirteen seventy dot com just one more way to stay connected with talk thirteen seventy. Thirteen seventy. The radio show. But Steve Davis home runs are open for one final segment of this morning show. It's. 877711521187771152. Levels could it be known talk to Phillips for a moment. Phyllis is you know an incredible. Situation. Just incredible. She's got. Basically between two properties. She's got. Seven she's got 750000. Dollars equity and 1250000. Dollars that's a million. Dollars. Phyllis did you know that you go about five million dollar apartment complex. Of bought 200 units for five million dollars before. This is you're done. You're ready to retire. Just got to get that money out of single family any into apartments as quickly as possible. You're asking your rate of return as an as the last owner operator deals that I looked down where you buy it. They don't it yourself. Had about a 20% rate of return a million bucks that'd be about 200 grand a year for the rest of your life and that's of course gonna go up. You could also double that million dollars in about two years. Using the value play business model. Those are two distinct business models for apartment complexes there's of course hybrids. But the first is called the yield play I don't recommend you'll play for you. The yield plays where you buy an apartment complex that is up and running it's already part of almost perfect. It's already got the highest rents that's gonna did it's it's occupied as everybody else in the neighborhood. So it's pretty much as she buys it so often running concern you make about a 15% rate of return. Yet. It's a good deal don't get me wrong. But. In the value play business model films. Where you go out there and you buy property that is in port condition. That does have low rent that does have. Low occupancy. And you stabilized that property over an eighteen month to two year period meaning you raise the rent. You rehab the property you increase the occupancy. You can literally double that million dollars in about two years inning go by another 200 units you got 400 units. So there's no question in my mind you've got to get you've got to step outside of your comfort zone. And I the only reason I say that weighs as you may have a single thing we comfort zone. Meaning they have done single fame in the past they've worked a made a lot of money I think I'll just stick with single fame don't do them. It's time for you to move to apartment complexes. So I hope that helps Phyllis and I can't say enough how much money. One million dollars shoes if you know what you're doing with the deal. And that's phenomenal so congratulations. OK next email. Is. Pound a week yet money. For the first place or. How to get money in the first place amateur. It's it's almost say you. It's all about living within your means anonymous. There's no secret to this. You know people are always going to these gurus that say they've got some secret for zeroed in deals and got some secret for no credit check deals. So bunch of B. You can't run your business off of zero down deals or no credit check deals. They are out there. But you can't run an entire business off of mount. So the rule anonymous is you're supposed to be saving between ten and 20% are performer obviously 20%. Of you're earned income. And if you tell me your living paycheck to paycheck and you can't say. Sorry but that's your problem. And I don't mean assuming way it's just your living beyond your means. You probably have too expensive car you probably have too expensive a closure probably have too expensive in my house. Because I can go into room. Full of 300 people. Fifty of make forty year fifty of them make sixty years if you make eighty a year fifty to make a hundred a year and so on and so on. And they're all living paycheck to paycheck. C. The rule in life is that you're bills. Will always rise. To meet your income. Your bills will always rise to meet your income and what's that's what that's called these ego based living. Ego based living no matter how much money you make you always want something nicer. You think you have to have the bigger car the more expensive car you think you have to have the bigger more expensive house. And you just keep spending everything man. Now anonymous it could be a challenge. You make email me back and say no. I just don't making money. Well then there's your first up to real state and Austin. You've got to go make more money. You've got to make more money you've got to be able to save ten to 20% of what you earn. And to be able to invest in income producing real estate. In that coincides with a Charles who emailed me. And he said last summit talks with the hard when you wonder about wholesale deal they needed on me so I needed ten to 141000 in the bank. If you're gonna wholesale you don't. Need any money in the bank. Your strategy is incorrect you don't use hard money loans to wholesale deals. Now if you were in a bind us to rent and now that a portion would. But judging from your email sounds like you're one of the wholesale repeal. You should you don't put that you don't buy that thing apart we'll talk talk again next week thanks for listening. Thanks for listening to the lifestyles and limited real estate investor radio shows remember that this show is for entertainment purposes only. And should not be construed as legal investing vortex sites results may very well. 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 at lifestyles unlimited dot com. Texas weather can change on dime. I wanted to know knowing he would normally. When the weather turns severe. Turned to us for what you need to know on air and online at top thirteen sending dot com top thirteen seventy the right choice.