Lifestyles Unlimited, 7/8

Lifestyles Unlimited
Sunday, July 8th
Lifestyles Unlimited, for July 8.

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 game 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. The show I'm your host Glenn morale 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 bitch you know that a comfortable retirement is it too distant unattainable dream. I she'd 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 it adopt a new belief. 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 and passive thing comes you need to retire in the next two to five years. You're 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 real estate where in love with passive income that cash flow. That we do not have to work so hard for. That will allow us to have a happy healthy comfortable retirement that's what were all about. And we believe that real estate is still the best vehicle for attaining that welcome 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 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 fear a little bit Scheyer can't get to offend right now. At driving may be in 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 LUIMC. Dot com that ask. LYNN. At LU. I NC. Dot com and I personally respond teary now. Susan said today I want to talk about real estate as a 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 and it's yes. You can find distressed properties and distressed sellers in all market 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 why. And to motivate you action to do something. Because unless you do something different that you are doing right now you are not gonna get a different result. When you choose to buy investment properties. 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 the one that they're not even not passionate about in 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 are foundered Dell wants solely to assure you. That you can create a 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 don't operate. What she put a great team around you will show you how to do. So here's the good bits it's it's something that prime minter. And as a set the founder and CEO of lifestyles unlimited they'll want to sleep constantly points out. Real estate is one of the most forgiving businesses you confined to an 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 ride 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 will pass 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 he began. And unlike many other businesses however you can get start. While you continue to work in your own business or in your current drop. The key is getting the education and support me. So here's how he do it. To be successful in any endeavor. You need to start with a look inward and this is the first. Call begins with you. Take some time to write down the things that you want in your life. What do you wanna do. Ask yourself some questions and write down the answers. Would experiences in life for important year. Who you wanna share those experiences where. How do you wanna give back once you're successful and have the wealth and passive income you need to pay for the lifestyle you worked. For yourself in your feet. Next. Ask yourself what do you wanna half. What a bigger house at your family has more room key when you were car. You don't have to constantly be worried about the repairs. He wants 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 income. To cash flow. That takes very little of your time to create. What are the words that would describe you. Did she started with a few examples from my last. Here's the things that I Rick 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 ideas have a lot of other things on my list but that's just to get you started to get you thinking about. Yeah he did you 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 what we wanna have or who do you want me. We're on auto pot. Our car has created a ditch between our 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. And think about what you want it to what you want. Including one of the let's have those answers we can help you create your amount 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 that lives. You've created. A list of things. It gives a picture of the lifestyle you wanna create your new business. Or by improving your current real estate investment does. But you can't map outer route to your destination into you know where your. So in order don't 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 your to create a plan which assets to work for you instead of continuing to work. To pay for the the issue own. Consumer mentality. Right in you're 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 on limited mentor Curtis Haines did a radio show with me recently I'm kidding your assets to work. How to create your family office so if you go to lifestyles 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 out and we know where restarting frown. So all you need is a business that allow 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 podcast so that you can write those things down. Very quickly be able to move through this. And as the new threat to show when he gives 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 Glenn morrow went after this short break I'll be back with a five reasons we believe real estate investing is the best business. To create the wealth and passive income that we're talking about reviewing your family. If you have a question get on the line during the break by calling 8777115211. That's 877711. 5211 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 successfully creating wealth and has become the people more local state and national investor your words. 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 lifestyle unlimited Austin dot com to access over free life training events scheduled. The number one question real estate investors tab is should I'd buy it. With the best available data on the parable sales and rinsing your marketplace lifestyles discovery allows you. Quickly and easily estimate capital gains and monthly cash flow. Litigating the best deals dot com to sign up for the free online class college. Get the best investment properties and learn to identify the very best deals to add to your portfolio. That's getting the best deal. It's dot com. Welcome back to the 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 LUI and C dot com ask land that's LYN. And at LU I NC dot com. Today we're 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 continues 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 it 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 slate 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 this segment that we'll definitely be able to do it before the end of the showed today so the five ways. They you can make money as a real estate investor if you run your business correctly. The it's the first one is Cachefly. Hate that is the most important thing cash flow is the reason. We seek passive income producing assets without cash flow you don't have income. Right so you're 401K. Even gearing market cycles where you are making money your 401K. It's no cash flow 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. 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 a property and have the right team to increase its value. Your repairs and improvements to the property. If you buy a 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. Then you're all land for 170000. Dollars. You 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. Without equity. You're exposing yourself to the risk of a falling market so we buy assets with equity that's our focus. Other businesses can be good sources of cash flow. But they don't offer an opportunity. To buy an asset for less than its work. And capture that equity. The third reason is principal pay down. And here's a way we make money in real estate 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. You know my B 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 doesn't 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 Lynn girl I'll be right back with more on the lifestyles some limited real estate investor radio show. 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 the white property using the right map. Appreciation. Realistically increase in value over time equity built the ranchers 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'd make money in real estate which is why real estate accounts for more millionaires in the world today that any other investment vehicle you should have some realistic in your portfolio. To learn how to attend the lifestyles unlimited free workshop call 866971. 8970. Or go to what styles unlimited Austin dot com and register for the next available workshop. That's 8669718970. Or go to what styles unlimited Austin dot com. Thirteen seventy. We're back for myself unlimited real estate investor radio show I'm your host lent tomorrow. And we're ready to continue our conversation on 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 you can call 8777115211. That's 8777115211. And I'll take your call live on the air. Or you can email me at ask Landon at LO UI and C dot com that ask Lynn LYN and and 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 we talked about in the last segment this cash up. 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 that list number four is the tax advantages. Real estate investors paid 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 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 die. If you pass the property on to your children when you die. They will inherit the property it it's called the stepped up basis and what that means is is that the property will be valued. At its current cost basis. At the 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 you'd still. It took it 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 vehicles has such a huge tax advantage. And we talk 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 are real estate 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 appreciation. Mostly 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 even. When you have me. Tick down in 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 are 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 and in many areas they have far exceeded the values that we had before going into the recession. So real estate again as of theory. For giving me an effective. Business model for creating wealth and passive incomes are you starting to understand. Why the leak where we believe this is the business you should use. We have a call from Paul in memorial City Hall I'm glad you called how can I help you. Thailand open. Pretty basic question when you talk about a timeframe what they treated by the years. To utilize them as a bubbly talk about it and try to get to them credit retirement. Are you implying that thought mainly to people that goes straight into apartment and I think that the president of build a portfolio. And apparently right now of the. 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 getting coded a short break and when we return we're gonna answer Paul's question about. Two to five years and what you can do that in single family home. Investing or whether it has to be apartments and how that works and we're also gonna talk more about how you can start to improve your real estate business. I'm your host slimmer. On the lifestyles on limited real estate investor radio show if you like to call just like halted and ask a question. That number is 8777115211. That's 8777115211. 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 can show for tomorrow for the next couple of days for a week. A couple of months and year how long until you lose everything you or forcing a fraction of its kind of earnest. This fear keeps you up that night it's time to learn the strategies and teach their lifestyles unlimited. 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 already have. That's lifestyles on limited Austin dot com. We know you're out there hiding in plain sight reading a life of quiet desperation 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 the life you deserve you can only do that by creating passive income. Let us show you how it's just two hours. If you were in another meeting about meetings or another mine was night in front of the TV go to. You lifestyles on limited Austin dot com that's lifestyles unlimited Austin dot com. Who. And I'm so glad you're here and beyond the lifestyles of limited real estate investor radio show I'm your host led 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 the most effective vehicle to create this welcome passive income back cash flow you need to retire. And then pull call from memorial city in the last segment and asked if investing in apartment communities is the only way you're retired in two to five years. As a real estate investor poll are you still there. Okay they Kiefer holding through the 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 an apartment communities. You'll get to retirement faster. So what kind of resources MI talking about it's it's not just cash in the bank we began the whole show today. By eight. Talking about. A new business model and then 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 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 what debt equity unit half. So if you've got land that you're paying taxes on that. You think you want to 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. Aide. 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. You can use as a resource to begin to and that's. 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. Yes yeah. Typically we say neat about 50000 dollars to start the department investing in for that to make cents. If you don't have that. 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 show it to several years ago. It's still applies and it's a real simple concept you say that as much money as you can't 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'll 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 know 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 a tenant 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. The apartment communities are different their valued based on net operating income. So if you can't operate that property batter I piquant and increases curb appeal. If you can't screen tenants. So that you have tenants who pay their rent it. 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. San Cisco prompting. Diffuse defuse single family rather than an apartment complex and that period I'm. And sells educated rich slow. Right so eighteen to bide your time frame I people you can start in apartments and depending on how much you start win at two years as a very reasonable timeframe that. 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 is really reasonable goal to half but you've got to work the process. Absolutely that's the way you make it happen Paul thanks for your call we didn't have to go to another great. It is 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'm going to lifestyles some limited dot com. Calling my team at 8669456565. That's 866. 945656. Guys signing for a free workshops find out wanna stay right here we'll be right back. Thirteen seventy. We're back with the last segment at today's lifestyles unlimited real estate investor radio show I'm. Your host lend borrow and today we been exploring the world of real estate investing. Real estate investing when done correctly as a business spiral almost everyone continues to create the wealth or 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 gross state business the first step was a look inward. At the things we want to do the things we want to hat and who we wanna be. This provided a clear picture of our destination and the lifestyle we desire. Better referred to do a podcast of the previous radio show I did the successful investor and mentor Curtis paints. Called getting your assets to work. Where he leads us through the process of creating a personal financial statement and that will give us a starting point. So for however starting point in our end destination we can now create a map. Eight and that 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 working again through three tips to get started in the business or take your current real estate investment activities to the next level profitability. And they're really simple to 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 viewing your fame paint so that's the first tip is just do it. I rip that band aid off and face. 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 you seek to start a different business it's that X number of years developing your career. Why would you want it changed now. Osaka his sudden change is gonna be transitions. Transitions 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 things that you wanna do with the people you wanna do then went on your own timeframe. For your own benefit. I T find that her and that group should include in this as the third test. 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 mentoring for free out there. I you have to go through an awful lot of information and determine which one is gonna work for you and combine them into some sort of strategy. Or you can come to lifestyles and limited 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. Don't wanna sleep. Is my mentor he's mentored all of us and lifestyles are limited and the only thing he asks of us when we're successful. In implementing. It is real estate investment model is to give back to the people coming up. And that's what we do so few have people around you you'll pass back the maps and show you a successful. Route. To travel to your destination. Do you have a plan. For where you wanna go and where your starting from and you've mapped out the route to get there. And you put then 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 rep quickened and speak of him by the end of the show hi I have and I hope you. I'm all right I'm currently over seven years old I'm in the spending machine business. I mean there's so real estate values it opens its and then clean minimum. Are you go to the and it wouldn't release in about. And in local outlook and there and I've done a lot of different things don't franchises. And franchise closed. Don't know. Like tantrum when it. And out a list of Armenians and then there's. Open change. And I'm getting tired of running so. I've heard you know on the radio and then Richmond Virginia late. I machines and flea market in the previous five and a long way to Florida program a lot of flea markets. China is round one as well. Defense enough. Okay good what I want you to do is listen to the close of the show here and I mean give you the 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. 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 it started and how more time but. Unfortunately our show is coming to an end today. I want you to remember that real estate as a business allows you to create the wealth and possibly become the capital Catholic you need to live the life you desire. Reviewing their family today to the lifestyles are 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 thanks very always consult a professional before making any financial decisions if you'd like to find out more about the mentoring available at lifestyles on the that it. Please visit them online at lifestyles unlimited dot com.