Lifestyles Unlimited, 7/7

Lifestyles Unlimited
Saturday, July 7th
Lifestyles Unlimited, for July 7.

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

Listen and learn how to use realistic to build welcome passive income streams were you when your family. We bring you experts every day 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. Show I'm your host Glenn marrow and as always we're working on your financial freedom today. Sometimes it's hard even painful. To look at our current financial situation. It's easier to ignore or deny it but you know that a comfortable retirement exit too distant unattainable dream. Unless you do something different. Your education. Your good job your 401K. Your stock market investments. Only other things you've tried. Did not create the wealth you need right now to retire. So it's time to face new reality. And adopt new beliefs about the best way to earn money. Before it's too late and that's why I'm here today. We're going to explore the world of real estate investing and by the end of today's show. Your going to discover with me. A business model almost everyone can use to create the wealth on passive income you need to retire in the next two to five years. Here also gonna discover the five reasons that. Real estate is the best way to create that welcome passive income it's not that we're in love with thriller state we're in love with passive income tax cash flow. That we do not have to work so hard for. That will allow us to have happy healthy comfortable retirement that's what were all about. And we believe that real estate is still the best vehicle for attaining that wealth than passive income. And then we're gonna close the show. With three tips to get started in the business or majority in the business to take your current real estate investment activities to the next level of success and profitability. I'd love to take calls on the show so if you have a question go ahead and give me a call at 877. 7-Eleven. 5211. That's 8777115211. Nor is fear a little bit Scheyer can't get to a phone right now. And a driving maybe you don't wanna be on that cell phone while you're driving you can email me at this easy to remember email address you ready. Ask land at LO UIMC. Dot com that's ask. LYNN. At LU. I NC. Dot com and I personally respond tearing down. Susan said today I wanna talk about real estate as of business because the most frequently asked question on our radio shows and emails from our listeners across the nation and around the world. Is this. Isn't a good time to buy real estate. And I'll give it the simple answer to that question is yes. You can find distressed properties and distressed sellers in all markets cycles. It's always a good time to be a real estate investor. But what I really think you're asking. Is will real estate investing. Allow me to create. The wealth and passive income that cash flow of I need to retire. When my job or my current business hasn't. And the good news is that the answer to that question is also a resounding yes we're gonna spend the rest of our time together today to. Discover watch. And to motivate you to action to do something. Because unless you do something different than you are doing right now you're not gonna get a different result. When you choose to buy investment property. You're choosing to start a real estate investment business. Yet many real estate investors approach the business as if it's a hobby. Hand it off one that there are not even not passionate about and these are the investors that fail. And they're the ones to perpetuate the stereotypes in this business tenants taxes toilets. And I'm here along with lifestyles on limited and our founder Dell wants Ali to assure you. You can't creator real estate business. That will give you the welcome passive income that you need to retire. And it will be a business that will be easy for you to operate. Once you put a great team around you will show you how to do. So here's the good bits it's it's something that my amateur. And as a said the founder and CEO of lifestyles unlimited don't want to sleep constantly points out. Real estate is one of the most for keeping businesses you confinement and almost anyone can successfully retire in this business. When you learn how to run a real estate investment business effectively it makes your code to financial freedom as smooth dry and a more enjoyable adventure. So remember if you have a question for media day you can call. 8777115211. That's 8777115211. Or you can email me at ask land. How why and and at LU I NC dot com ask Lynn. At Value Line C dot com. The real estate investment business is easy if you treat it like a business and build on a strong foundation. With access to successful real estate investors who passed back and effective Mac. Since they've traveled that road before you. Just like any other business you have some due diligence to do before you began. And unlike many other businesses however you can get start. While you continue to work in your own business or in your current job. The key is getting the education and support me. So here's how he do it. Did these successful in any endeavor you need to start with a look inward and this is the first. Hole begins with here. Take some time to write down the things that you want in your life. What do you want to do. Ask yourself some questions and write down the answers. Would experiences in life are important to you. Who do you wanna share those experiences when. How do you wanna give back once you're successful and have the wealth of passive income you need to pay for the lifestyle you want. For yourself and your fan. Next. Ask yourself what do you wanna half. You want a bigger house and your family has more room he won and you were car. You don't have to constantly be worried about the repairs. Do you want supplies or equipment to make a hobby or your travels more enjoyable whatever it is ready to. And finally. Who do you wanna be. Look into the future. When you have successfully replace your current income with passive. Pat cash flow. It takes very little of your time to create. What are the words that would describe you. Amaechi started with a few examples from my last. Here's the things that I wrote and healthy. I spent time outdoors. Take time for myself. I'm available to my family and friends and a good wrestler. Help others. I read and explore new idea let's have a lot of other things on my list but that's just to get you started to get she's thinking about. Including an appeal as a person. A lot of us we are working so hard. For somebody else's goals and objectives. We've lost ourselves. We don't even think about what we want out of life what we wanted to do what we wanna have or who be bumpy. Auto pack. Our car has created a ditch between house and our job. Eight and we want to get out of that ditch and the way to do it is to start right here in this first step. And think about what you wanna do what he wanted to. Including wannabe. Once we have those answers we can help you create your map to financial freedom and the lifestyle you designer. That's the second step in this process. If step one you define your destination that's what atlas. You created. A list of things. It gives a picture of the lifestyle you wanna create your new business. Are by improving your current real estate investment this. But you can't map outer route to your destination and tell you know where your. So in order to know where you are right now. Financially. You're gonna make the list of all your assets. Identified that dead equity that's out there things that are costing you money. Instead of making you money and you're gonna create a planned future assets to work for you instead of continuing to work. To pay for the the issue own. The consumer mentality. Right in year gonna adopt the investor mentality. That's the mentality. That wealthy people. Have adopted. That's made them successful. So we don't have time to go through that entire process on the show today and we're not going to because. Successful investor and lifestyles unlimited minter Curtis Haines did a radio show with me recently on getting your assets to work. How to create your family office so if you go to lifestyle unlimited dot com. Lifestyles. Unlimited dot com and click on the radio tab you'll find that podcast. Listen to that show you create your personal financial statement it's not painful I promise. And it won't take too long either Canada provides you with your starting point. So now we know where we want to go and we know where restarting frown. So all you need is a business that allowed you to transition smoothly. From your current deputy to job from working in your own business to working. On your business over the next two to five years. So I've outlined a process where you pride and wanna go back and get this podcasts at that you can write those things down. Very quickly be able to move through this. And his renewed threat to show I mean he give you some more tips and ideas of things that are gonna help you move through this process. You're listening to lifestyles on limited real estate investor radio show I'm your host and Maryland after this short break I'll be back with the five reasons people leave real estate investing is the best business. To create the wealth and passive income that we're talking about previewing your family. If you have a question get on the line during the break by calling 8777115211. That's 8777115211. I'll be right back. Lifestyles unlimited is the real estate investor education and mentoring group. That has been taking people by the hand in teaching them how to invest in real estate for over 25 years our students have been so successful at creating wealth and passive income the people more local state and national investor the year awards. Ten of the last ten years it's easy to see what the real time magazine named us the best in the US. If you're ready to add real estate to your portfolio due to lifestyles unlimited Austin dot com to access our free life training events schedule. The number one question real estate investors tab is should I'd buy it. With the best available data on them terrible sales and rinsing your marketplace lifestyles discovery allows you. Quickly and easily estimate capital gains and monthly cash flow. It's getting the best deals dot com to sign up for the free online class. How to get the best investment properties and learn to identify the very best deals to add to your portfolio. That's getting the best deals dot com. To thirteen seventy. Welcome back to lifestyles unlimited real estate investor radio show I'm your host Glenn marrow. Today we're here to provide a more effective road map to your financial freedom by starting or improving your real estate investment business. If you'd like to ask a question on the air call 8777115211. That's 8777115211. Or you can email me at ask land at LU I NC dot com ask land that's LYN. And at LU I NC dot com. Today we are facing together the reality that the things we have done to provide for comfort comfortable retirement are not working for us. We've been discussing a business model you can use while still working in your current W two job or running your current business. That will allow you to replace your earned income with cash flow from your real estate investments in the next two to five years that's doable. Before the break a promise to share the five reasons we believe. Real estate is the most effective vehicle for creating this passive income. And these five income sources are the result of implementing. The real estate investment strategy my mentor don't want easily and Martina lifestyles on limited taught me. So let's go through these five steps. And we may not get through all of them in the segment that we'll definitely be able to do it before the end of the show today. So the five ways. That you can make money as a real estate investor if you run your business correctly. The it's the first one is cash flow. Eight that is the most important thing cash flow was the reason. We see passive income producing assets without cash flow you don't have income. It's of your 401K. Even gearing market cycles where you are making money your 401K. There's no cash we're going into your bank account from. It's something that's far often in the distant future you can't live. Off of your 401K. Now. You can't quit your job. Without cash flow. We don't buy an investment property. In less than rental income is greater by a reasonable margin then the monthly expenses. So let me give you realistic example when you're Tenet pay issue. 12100 dollars a month. To live in your rental property. And your monthly expenses including. Principal interest taxes. An insurance. And maintenance reserves. Are 900 dollars a month that 300 dollar difference is now income for you. That's cash. Deposited in your bank account every month and that's cash that can support your livestock. Number two. Is equity capture. You capture equity when you buy a property. In real estate you capture equity when you buy property and have the right team to increase its value. Through repairs and improvements to the property. If you buy up property in the neighborhood where the properties are valued at around 200000. And you can buy it for 150000. Because of its current condition. You can fix it up for about 20000 dollars. In your all land for 170000. Dollars. You've just captured 30000 dollars in equity that increases your network. It's like having 30000 dollars in cash sitting in the bank of 123 main street right. Few what are investment vehicles can create wealth so quickly. With out equity. You're exposing yourself to the risk of a falling market so we buy assets with equity that's our focus. Other instances can be good sources of cash flow. But they don't offer an opportunity. To buy an asset for less than its work. Caption that equity. The third reason is principal pay down. And here's a way we make money and real state that most people don't think about it. We accumulate equity in our investment properties over time as our tenants pay down our market. So even if he were making money any other way. Your tenants would be paying down your mortgage a little bit each month granted it starts out small. Now might be fifty or hundred dollars a month but as time goes on it grows. And it adds to your equity in the property. And this is unique to real estate and a powerful. Wealth building. Process. We will return in just a few minutes and I will complete the list of the five reasons we believe real estate is the best business straight to create the wealth or passive income you need to retire in the next two to five years. If you have a question now is a great time to call and get on the line for the next segment. The numbers 8777115211. 8777115211. I'm your host Glenn Earl and I'll be right back with more on the lifestyles on limited real estate investor radio show and. Did you know that every dollar you invest in real estate makes you won five ways. Cash flow money in your pocket each month. Equity capture the thousands of dollars you create when you have a great team and by white property using the right map. Appreciation realistically increasing value overtime equity built renters pay down your mortgage each month. And finally the tax advantage when done correctly real estate investors pay no taxes on our cash flow and capital gains at lake styles unlimited these are the five ways we make money in real estate which is why real estate accounts for more millionaires in the world today that any other investment vehicle and you should have some real estate in your portfolio. To learn how to attack the lifestyles unlimited free workshop call 8669718970. Or go to what style unlimited Austin dot com and register for the next available workshop. That's 866971. 8970. Or go to what styles on limited Austin dot com. We're back with the myself I'm limited real estate investor radio show I'm your host Glenn hero. And we're ready to continue our conversation on a more effective road map to your financial freedom. By starting aren't proofing your real estate investment business. If you'd like to ask a question you can call. 8777115211. That's 8777115211. And don't take your call live on the air. Or you can email me at ask Landon at LU I NC dot com that ask Lynn LYN end. At LU I NC dot com. Let's complete our list of the five reasons we believe real estate is the best investment vehicle to create the wealth and passive income cash flow. You need for a happy healthy comfortable retirement. Number one that we talked about in the last segment was cash lap. Number two is equity capture. Number three was principal paid down because our tenants are paying down our mortgage balance each month. So now let's continue to list number four is the tax advantages. Real estate investors hit the lowest taxes of any for profit business in the United States even with the new tax laws. The IRS allows us to reduce our earned income tax on cash flow by taking depreciation deduction against the property. And we can avoid capital gains tax will we sell. Using something called at 1031. Tax exchanged and 31 is departed the tax code. That allows us to sell one property and by another. Thus rolling Hoover power gains and not paying taxes on them. How long can you avoid those taxes. You know we have a fund saying in real estate is defer defer defer died. If you pass the property on to your children when you die. They will inherit the property what's called a stepped up basis and what that means is is that the property will be valued. At its current cost basis. At that time of your death. And that wipes out. All of the capital gains over the life of the asset as far as the IRS has cancer use still. If children still have that equity in the property. But they do not have to pay the taxes. On that unless they decide to sell. No other investment vehicle has such a huge tax advantage. And we talked a lot about legacy and that's another show. But generational wealth and the ability to create generational wealth is another incredible advantage. That real estate investors half. And finally on my list of five reasons spiral state is the best way to create wealth and passive income. Is market appreciation. Real estate typically increases in value over time that it might fluctuate in the short term we've seen in the past recession. But it's forced to rise over the long term with inflation and scarcity of available land in desirable areas. So while stock investors live and die by market depreciation. Real estate investors see this isn't nice bonus to pile on top of the other ways we make money. One thing to remember too is that you then. When you have me. Tick down and the value of your property. It's still rented used to have a tenant in that property. And they continue. To pay their rent. Now if that tenant loses their job as happened in the downturn. There are other people who are looking to rent property and in fact what. Most of us experienced it lifestyles on limited is that our rents went up every year throughout the recession. And we had higher cash flow then before. Even though our properties have lost a little bit of value. At this point they have recovered in in many areas they have far exceeded the values that we had before going into the recession. So real estate again as of theory. Ford did being an effective. Business model for creating wealth of passive incomes are you starting to understand. Why delete where we believe this is the business usually use. We have a call from Paul in memorial city Paul I'm glad you called how can I help you. Thailand I have a pretty basic question. When you talk about a timeframe what stage you're five years to utilize. The only talked about it and try to get to them credit retirement. Are you implying that are mainly to people that goes straight into apartment and I think as opposed to those that build up portfolio. And a family rent them. I am really glad that you asked that question and I am gonna hold you over through the break because we've only got about a minute this is gonna take him a little bit longer to answer but I bet that's a question that a lot of you are asking so. We're gonna go to this short break and when we return we're gonna answer Paul's question about. Two to five years in what you can do that in single family home investing or whether it has to be apartments and how that works. We're also gonna talk more about how you can start to improve your real estate business. I'm your host slammed her. On the lifestyles on limited real estate investor radio show if you'd like to call just like Paul didn't ask a question. The number is 877. 7-Eleven 5211 that's 8777. Elevens. 5211. Stay with BC get all the information you need to take the next step toward retirement and financial freedom. I'll be right back. What would happen if you didn't show up for work tomorrow for the next couple of days for weeks a couple of months. Year how long until you lose everything you or forcing a fraction of the time to earn it. This fear keeps you up that night it's time to learn the strategies we teach at lifestyles unlimited. Let's start with the free workshop go to lifestyles are limited Austin dot com and find you true financial. It's like so many of our members all right yeah that's lifestyles on limited Austin dot com. We know you're out there. Hiding in points and living a life of quiet desperation and wondering if you're going to keep your money to the current there's a better way of federal life at lifestyles unlimited. It's time to live a life you deserve you can only do that by creating passive income. Let us show you how it's just two hours. If you worse than another meeting about meetings or another mine was my front of the TV. Go to lifestyles are limited Austin dot com that's lifestyles on limited Austin dot com. Thirteen seventy. Who had been injured however. It's just. So glad you're here and beyond the lifestyle lamented in real estate investor radio show I'm your host let thorough. And today we're working together to adopt new beliefs about the best way to earn the money you need to retire. Since our jobs our current businesses for a one k.'s and other investment vehicles haven't worked. In the past two segments we talked about the five reasons real estate is than most effective vehicle to create this welcome passive income. That cash flow you need to retire. And then pull called from memorial city in the last segment and asked if investing in apartment communities is the only way to retire in two to five years. As a real estate investor Paul are you still there. Okay thank you for holding true to break because this is a question I think that a lot of people half and and the simplest answer is that if you have the resources. To begin. Investing in apartment communities. You'll get to retirement faster. So what kind of resources on my talking about it's it's not just cash in the bank we began the whole show today and a bite. Talking about. A new business model ending going through defining. What you want as an individual your vision of the lifestyle you want. And then I invited people to go to a another pod cast of our radio show that I did with Curtis paints. And the title of that is ditch your assets. To work. And that takes you through a process of looking at a debt equity you've half. So if you've got land that you're paying taxes on that. You think you wanna build on in the future is that land that you can sell and use that to actually get to retirement because right now you're never gonna build that house at eight. You've got to get to retirement first so. Maybe you've got recreational vehicles extra cars. Things that are costing you money and not making you money they you. Can't use as a resource to begin to and vast. If you have enough to go into apartments. That is a great way to start an Italian a minute why how much do you need is the next question right Paul. Yeah act. Typically we say you need about 50000 dollars to start the department investing in for that to make cents. If you don't have backed. You can't begin. With the process we call the investment snow ball again that's another another show that you can find out there on podcasts is to cited several years ago. It's still applies and it's a real simple concept you saved out as much money as you can you scale back your lifestyle. So that you can save money and you buy that first house. That all the money you make on that first house gets added to the money you're still saving. And you be able to buy that second house it'll seem like it's a little bit long to be able to do it. But the third a come quicker the fourth the come quicker and by the time you have ten houses you're going to be able to run them for a couple of years. And then either refinance those properties or sell them and moved to apartment communities so why then moved to apartment communities. Here's the reason. Single family homes are valued based on what the people around you are buying and selling homes for. So no matter how well you run them. The fact that it looks like a million bucks that does help a little bit right. The fact that looks like a million bucks and that you've always had attendant and it it Tenet has always paid their rent none of that. Increases the value of that property. Because there's a top end of what people are gonna pay for the single family homes in that neighborhood it. But per communities are different their valued based on net operating income. So if you can't operate that property batter I piquant. Decreases curb appeal. If you can't screen tenants. So that you have tenants who pay their rent. If you can and that also creates referral business if you're good operator and you can increase your net operating income by just. 10%. You're going to be able to double your investment in the property that's the way the numbers work out. And that is the key. To reaching retirement in two to five years. Says though problem. Acute diffuse single family rather than an apartment complex and it period I've. And cells educate get rich slow. I so. 82 to five year time frame I keep you can start in apartments and depending on Hammett she start when two years as a fair reasonable timeframe but we've had people start. With their very first single family home investment. And in two to three years they've been retired so five years as a really reasonable goal to have but you've got to work the process. Absolutely that's the way you make it happen Paul thanks for your call we do have to go to another break. But this story gets even better to find out how stay right here through this last break in will be back to wrap up today's show. This is the last chance to call. At eight. 777115211. With any of your questions 8777115211. Where you can take action right now I going to lifestyles unlimited dot com. Are calling my team at 866945656. Guys. That's 866 and 9456565. Cited for free workshops find out why stay right here we'll be right back. Thirteen seventy. We're back with the last segment at today's lifestyles on limited real estate investor radio show I'm. Your host lend borrow and today we've been exploring the world of real estate investing. Real estate investing when done correctly as a business model almost everyone can use to create the wealth of passive income you need to retire in the next two to five years. We began by talking about the first few steps to get started in this business. Or improve your results from your current real estate business the first step was a look inward at the things we want to do the things we want to happen and who we want to be. This provided a clear picture of our destination. The lifestyle we desire. Then there referred to do a podcast of the previous radio show I did the successful investor and mentor Curtis Haines. Called getting your assets to work. Where he leads us through the process of creating a personal financial statement and that would give us your starting point. So for however starting point to end destination we can now create a map. Eight and it makes this journey. Smooth. And a lot more fun. Then we went through the five reasons that real estate is the best way to create that wealth. And passive income. And now we're gonna get those two through three tips to get started in the business or take your current real estate investment activities to the next level of profitability. And they're really simple do the exercises. That we talked about throughout the show I know who you are and what you want out of life and create di tale vision of the lifestyle you want. And find out where you're starting from that can be a little bit painful to take a look at our finances and except where we are in line. But if you do that. The pain will be over soon. Because you're going to be able to move forward. And create a happy healthy comfortable retirement for you and your fame and tapes and that's the first step is just do it. I rip that band date off and face it. The second tip. Is to find a community of like minded real estate investors and there's two reasons that you need to do this one has the support because the people around your gonna think you're crazy. For doing that why would she do. Seek to start different business is spent X number of years developing your career. Why did you wanna change now. Osaka isn't change it's going to be transitions. Transition is actually going to be into retirement. And this is the business that you're going to work on. Not end so that you can retire and spend more time doing the things that you wanna do with the people you wanna do then went on your own time frame. For your own benefit. I T find that her and that group should include in this is the third ten. It should include successful real estate investors. He too will provide some education and mentoring and that's usually going to be a company of some sort. And you're usually gonna have to pay for that education and mentoring sure you get education and mentoring for free out there. I you have to go through an awful lot of information and determine which one is gonna work review and combine them into some sort of strategy. Or you can come to lifestyles unlimited where we have a time tested strategy over three decades. Debt will allow you to step through this and follow in the footsteps of successful investors who are giving back to the community. Other investors that help them succeed. Dell wants glee. Is my mentor he's mentored all of us at lifestyles on limited and the only thing he asks of us when we're successful. In implementing. He is real estate investment model is to give back to the people coming up. And that's what we do so if you have people around you you'll pass back the maps and show you a successful. Route to travel to your destination. You have a plan. For where you want to go and where your starting frown and you've mapped out the route to get there. And you put in the time and effort that's necessary to take that trip. You are going to reach your destination. I understand we have a caller. And will trying go their breath quickened and its basis in by the end of the show hi how can I help you. All right I'm currently certain element of an Asian business. And I if there's so little statement he has been there's no means minimum. Very good. An adequate for whatever reason about. And an article out of London and then I'm done a lot of different things that don't franchises. And I chose clues. Oh no space shuttle. Like insurance when it. And now a last minute and then we wish open change. And I'm getting tired of running throw. Parody it on the radio I'm in Richmond Virginia right now. I machines and putting market in the period of the spot and a long way to Florida where a lot of flea markets which. I trying to round when it all and are different enough. OK get what I wanted to do is listen to the close of the show here and give you a phone number it's 866. 9456565. That's 8669456565. Or go to lifestyles and limited dot com. And register for one of our free workshops and will step you through all of this you can see if it's the right thing for you. But age doesn't matter because you've got to do something. Right and you wanna change your situation no matter what you're ages thank you so much for calling I'm sorry we didn't have more time but. Unfortunately our show is coming to an end today. I want you remember that real estate as a business allows you to Creighton while capacity count the capital Catholic you need to live the life you desire for. Reviewing their family today to the lifestyles of 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 he'd like to find out more about the mentoring available at lifestyles and limited please visit them online at lifestyles unlimited dot com.