Why Any Given Person Can Miss The Map To Financial Freedom, 2/19

Del Walmsley
Monday, February 19th

As Del explains on this podcast, the striking thing is not that a room full of people can miss the map to financial freedom, it’s the many different ways they can do so. Join us as we explore what very likely is at the heart of today’s financial literacy problem: an overabundance of mediocre retirement ideas. Then, stay tuned as Del hits the mail bag to address radio show questions and a very powerful listener story.

00:48:11

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

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The next hour will change your life. And now your whole. National award winning investor relief here on CEO and founder of lifestyle. Don't want him. What we don't want to radio show with a high fence and health beacons on your clothes don't want to win is always working on your financial freedom. Today and fresh back from Miami you know on location event. Meeting lots of incredible people. I ran into a dichotomy of thought process. That was very interesting. And almost even painful because I couldn't reconcile and out of my brain while it was happening. At the end in of the moment it was very interesting and what had happened was is that. I admit to completely different types of people. At this event and I met one group of people were one fairly heavily 25 million bucks and other fairly with a ten million bucks. And then I met the guys that he could even give it house refinement. And he said he didn't understand why couldn't get health reform against. And it was because he had no income. But in his mind he caddie and come. And actually ran into two people know the president and his own personal business. And he couldn't understand because he she it is income. From the IRS that when he went to the bank the banks since you have to when to move to protect you turn it. Clearly state trio of new income and then he says but I have a lot of cash flow. Any just doesn't understand it. In so I started feeling this dichotomy of spectrum. And then. So McKim a commute told me story. About. A guy. Who said he didn't celebrate Valentine's Day. And that what he did was he switched to the day after Valentine's Day the family waits the day after Valentine's Day because we can buy candy really really cheap fifty cents on the dollar. And all the other little giveaways from whatever trinkets to the in and out day after Thanksgiving it's worthless missile that sentiment. And good that the moral of the story was supposed to be here's a guy that is so approval that he thinks through this process. Very intelligently. And doesn't let the hype kit in the way of him staying on as budget and so forth. And that there's a logic to that I got that they're you know you can understand that. What was. Eating at me was that frugality. Doesn't make you 25 million box doesn't make you ten million box. And no matter how hard you work to be that approval. That isn't going to be. Complete decision. On the other hand when you listened these people who are there and if I had no money and I have no credit. You go what did you do with your money. What did you do to destroy your credit. So as you can see there is a completely. Different set of problems on the chip and the people on the other hand over the got the 25 million but you don't need to work any more than you just live off that when you but they reelected that money will go away very quickly. If they allow themselves up their cost of living and and live off of it. And so they're looking for a way to create income out of that money. And the people don't hurt the bottom don't have any money to start with. So the looking for a way to earn more money by turning real straight into some type of B job. What can I do color bar or something and rehab it and the flip it. And then I ran to a guy which is very extreme because he was at some form of either financial planner or he was a stockbroker. Or some combination thereof. And you know you could tell the guy totally understood. Everything about what the laws were firing its worth taxes were in fact he was even helpful answering some questions during you know. The conversation. But yet when I talked to him as intelligent as he is in sort of upper Echelon of clientele that you must work with to begin that business. His first it was he went box 2000 flip. It which makes absolutely no sense at all. And so here I am I'm I'm I'm being immersed in all of this different confusing ideologies. And thinking to myself wow. How do you reconcile. One from the other. You know because people believe. That living Froogle is the answer. Who do it they believe that's the answer people who make a lot of money believe that the way to solve your problem is make a lot of money. And some people. Don't know how to make a lot of money and don't know how to save the money. I've got a guy one time that was worked and if fact we believe what you. Oil refinery believe correct term for. And don't. Get a little friend house call by a little creek rule ponders on the get a little boat. And only like use fish. And you only need to thousand dollars a month the pay all the bills. So we toured lifestyles and you know a little money not a lot of money would be a little money was ECB didn't live in DC very frugal saves money. We want our bottom you know for fiber and countless which really easily covered 2000 won't be needing 500 a month from five outs when he governor Altamont. A tax free income is very easily covered his he's living expenses. And so we've retired. And lived happily ever after. Right. So. The point of trying to make use it here I am trying to reconcile what conversations. With a group of people. In realizing the group of people in the room or is to verses could be. And what started to bother me about it was is. You know this group over here that thinks that frugality is the answer all questions. Doesn't understand that the frugality is never going to make him rich. Now maybe don't want to be rich. What I found what I was poor. Was that I hated being pour. But I was willing to live on half what I heard. I'd never really had a lot of desires for things a number of things kind of guys who was really pretty easy for me to do that. I was mostly working out all the time sort of pretty busy I didn't need things to spend money on to do. Some kind of weird bird away. I conceded if you live. To improve your whole life you will never ever learned to appreciate. What it is not two people. And so I read a book I think was called on. Millionaire next door. Would you talk about people bit. Save the whole life. Paid off the person residents got a for a working Eric but by the time the 657 years visually got a million bucks in the bank. But what it also went on to say what some leadership appears that most of these people where although financially secure knowing that they give me about the days. They were living. Stones from Lucy were when they're saving the money. They go to 1 to 4 o'clock give the seniors discount for lunch. They took all the senior discount for everything that clipped coupons. And they did all these things to do just live on next to nobody although they had a million bucks in the bank. And investor correctly would produce a 100000 dollars in your over the income they were living like you're living in 101000 dollars a year in income. Which is something embedded in my mind early on in my life that this just doesn't make sense. And so really when we look at this guys. I think that the cats on the gonna talk about today. Is defective. People that think savings as the solution to becoming financially free. Do not understand that making money is the other half of that solution. People who can't save money. Believe the rich people all got there by luck. That they can get the big one time. And so those people try to hit it big by buying Lotto tickets. But buying long. Shot investments would pick one. Readers do something for nothing instantaneously gratification diseased idea that over night without any thing invested time and money to be alone you're gonna get rich. And the reason they believe that is because they have to believe that because they can't reconcile in their own bringing that. They just didn't do the first part of the equation correct. And you don't think about it whatever you do wrong in life it's very hard you rationalized that you're wrong is wrong. I'm just as guilty of any but so not point fingers and every point one finger former three point back. But the reality is is that when you look at it from the outside hinge try and hopefully do something that but wait you're good at what they're beginning to shape or beat me to financial freedom work. Building rockets somebody from Yeltsin also do it looking in to people that don't know. Think it's something to give him some today we'll take a little trip down that journey down that road. And look at some we'll send me some of you think about it additionally. Before break be right back with you don't want to radio shows and. You're listening to the Joseph wants the radio. 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To learn how to attend a lifestyles unlimited free workshop call 8669718970. Or go through 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. Again and stands today all day long in the car on my way to work heading home listening online keeps you in touch will you work at top thirteen seventy dot com get a ring no talk thirteen seventy anywhere. Kind of rights away. Thirteen seventy. Actually you know here's some more unconventional wisdom to set you free from the man on a mission to retire America won her. Person at a time. No one's going. Well about you don't want to reduce should tell them taking on the topic there though even for myself I find it challenging. To try to cross the chasm of these to try and ideas. One idea is that reality is the secret to becoming financially successful. I'd live to live to learn to live when below your means is. Very important point for the most people's funny to play in the wanna become successful. And the other when he is is that even frugality won't lead you anywhere but to be poverty mentality. And that. If you do that her entire life even though you wind up with more money you're paying for someone who doesn't. You can live like your impoverish the rescue like. We needed to be a senior you're still going to be. Let them beans and rice she still gonna drive and a broken down car you're still going to be going to lunch at 4 o'clock to give seniors discount you're still going to be clipping coupons. And it you know it doesn't matter that you save more money than the guy next to you to life is still. As mediocrity. Is mediocre soared as mediocre. As the guy who didn't save money you're live in the same witty guy. Is living in other words he's living it because he has to do you spend all the money new revenue because you've trained yourself to live it that way. And so life never really gets any better even when you start to transition into somewhat. That has a moderate amount of wealth and then to a large amount Wellfleet Rondo on the line you just can't make that. That transition mentally you become old. And conservative. And frugal. To the point where they're really use. No enjoyment in life and it's funny picnic at some have the depth of their and we were sharpened my immune. McGraw opens pick though is really nice clothes and those didn't should pick a couple jackets for me. There were pre preconceived. So we're Biden stuff and I'm thinking America and really you know stuff but. I've got the money and deported due to a no big deal doesn't even scratch the surface. Am. As we're going through that that I soldiers they had the sale of bird construction there will be no broken stock is but it said that. That were the kind of shoe that the hippies war. Sometimes it would bottoms I think you can go like leather straps on and I mean they're like to me. You're very dirty. It's about this device has consulted somebody Wear burqa stocks but Lucas we are thought there were gone I thought that that that at this appeared. And I echo the man who would even argue sinker anymore nobody dressed as like hippies anymore like that. An initiative that you've waited it's. Doc in the seventies get stuck in hippies are right good to go around it and beat her. And just about the time my brain was saying all that. A young girl walks in would Birkins docs and pictures often put to nuke Iran that look exactly the same but for some reason she thought it. That are good stock looked compared to that Berkus who. Might meet might mean she needs an upgrade. And I thought to myself they're news. People are stocked in poverty. Even when they're not impoverished. If you grow up in poverty if you lived in Europe Middle Ages through poverty. You end up impoverished. It's a way of thinking. And now. The world sees those ways of thinking and whatever it is you can conceive and believe you will achieve so if you believe you'll knew we'd have money is to struggle and it and a star. That that's the only way it will work for you could at all delivered it will be a broken stock for the rest of your life. On the other hand if you see the world as plentiful. As you see it that as you produced the world will commend you. It's a completely different point of view. Now there's always bring me back to biblical story. Right the story the parable about the talent in the Bible. There and this is Matthew 25 dot one important. For me after 25 got fourteen to thirty and Luke nineteen. Twelve through 28 there's actually two stories in the Bible and almost exactly the same. In both cases they say almost exactly the same thing and they need exactly the same thing. No American really do you think about because verse. Because. When you read the Bible it's harder will follow what they say the way they speak about things. It's in an older column but I would region the overview that this guy wrote about this. And that we could come back to because that they could very very interest can be checked my time here. We're looking at four minutes or three minutes from its cheaper to accuse us. It's a simple story that lord tells pyramid and prepared to give you a majority controls his possessions to his service. Industry distributed what promotes three servants proportion to them all of the basis of their ability to. Felt almost stop right there and loose talk what was that what bubbles would department on earth we get paid. According to our ability. Those who do you have great ability to pay a lot of money. Those who have little ability to life don't get paid as much. We would mean. That's just the fact of the world I know the liberals steps and out there don't do what you believe that they want you to believe that it's unfair that rich people rich because they're lucky and poor people pour because they're a minority that day. Michael Jordan is a poor because he's a minority. Kevin Durant is a poor because he's minority. James Harden in poor because he's minority these guys are paid eight ton of money because they are talented. And so when god handed out talent. They did something with the and talent is a measure well in this society but he talent in the Bible as a measure well is no different than a measure. A talent that we are all giving. It goes on to say to the first few trusted our talents to the second two gallons into the third one count. The first two servants quickly set to work with the masters drug money. And in this case and envisioned the masters money is god stoned he gave TU. Are you wolf I'd tell person are you to tell a person are you one tell person. God gave you those talents now go do something with them. So the third Killen did not invest the masters money at all. He dug a hole in the ground to bury the masters money in other words he wasted the talent god gave to him. You could be one of those people out there wasting your talent good guard dude you've. When the master we turn first to illegally met their master apparently delighted in the opportunity to multiply their masters money. Both were commended as good in people servants and both were rewarded with the increased responsibilities investors service both were invited to share in the masters joy. So we guy with five counts comes back he tells the mantra you gave me five talent I returned you can talents. And then in the master says you're a good slave. Now I'm going to bestow upon you much power and march 12 the second guy who's given to Jones. Doubled. It is you know talents to four counts and the message of the saving him he didn't moving to the master that. The one guy had five counts in this guy we had to he was happy wouldn't keep him too could that was his level talent. He replicated the result of the guy with five counts. That's all you need to do is take what talent you have and doubled to double the results of your test. Boom come back from break then talk about those you. That are wasting your. Period God's gift we'll be right back don't want to do. You're listening to their Tel plus the radio. Principles in just a few minutes. Both or just well the past have been comebacks over the country is coming to Texas Saturday April 14 joined thousands of top investors and expert twelve educators from topics like passive income retirement asset protection tax free income finding fixing in the funding houses and apartments get your path to retirement and just one day you'll do well and passive income tax code Doctor King one on one access to hundreds of industry experts realtors lenders property asset management apartment -- national real estate syndication and treat depression comes shaking hands with your retirement. From a pro X 1218 and getting with the ten dollar peak national radio host multimillionaire real estate investor demand towards the top award. Astros in the country del Walters would use promo code extra weeks into people all access pass we just hang out well capacity comebacks though doctor. Brian Tracy top selling off a total of seventeen books personal success reported text along with Marcus the trouble when survivor bestselling author and former U. United States needs you'll receive the media cross an awful hard for his actions during operation records. You have to retirement in just one day wealth of passive income expo dot towns promo code expo week team. You have to decide I would you do right now is cool over with the wolf wolf is good. Miss your chance to ask delicate question here and show you can connect Adele off the air it's headed down on the radio dot com and click on the. I believe that good future. Has the skill sets he will be free people. Through multiple levels aboard that are completely different ones. We know you're out there hiding in plain sight living a life of quiet desperation wondering if you're going to keep your money to the great. There's a better way of federal life at lifestyles on Monday. It's time to live the life you deserve you can only do that by creating past. CBS news update. Okay. OK okay. Hundreds of chanting protesters converged in in downtown Los Angeles park today demanding new gun safety measures in the wake of the Parkland Florida high school shooting. Even as they mourn the loss of classmates. The survivors are working to raise the national consciousness about gun violence. CBS's Manuel bull market Stoneman Douglas high school students have gone from survivors to activist yeah. Since I was eight and it has been he had ice game on you. Calling for stricter gun laws over the weekend. As funerals for some of the seventeen killed to place dozens of students pressing for tougher gun measures stick it's. A staged a Donnie Yen outside the White House today. CBS's chip Reid. This Wednesday the president will be meeting here at the white house with high school students and teachers for what the White House is billing as a listening session. CBS news update I'm Pam Coulter. You've probably heard that mortgage rates are rising and many economic indicators are pointing to rates going up even further. If you're thinking about pulling cash out of your home to consolidate debt invest in the stock market purchase a rental property or even by the bit going debt. You should call now before rates go any higher. May to cash call at 855875. Cash now with mortgage rates still unaffordable levels used the equity in your home to meet your financial goals. Cash call morientes loans with no closing cost so if rates come back down you can refinance again without incurring extra expense call 855875. Cash today to begin the quick and easy process because most loans in less than 21 days to get you the cash you need fast. That's 855875. Cash. 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Ford got a slight cool dot com. Since 1985. We shocked you say it's a full details on YouTube or else it's let's go to console commercials and persevered and your health insurance company of a factor is not available how states. Buckle up who is my neighbor to tell me I must Wear a seatbelt for May we suggest. You buckle up the only victim and a massive get. Drive home with Michael Barry weekdays at five on top thirty semi. Catch up on the latest headlines at anytime at top 1670 dot com. The following is obtain commercial program is an opinions expressed are those of the host their guests and are not necessarily those of top thirteen seven or Entercom communications home. Actually now here's some more unconventional wisdom intersection. The man on a mission to retire road America one person at a time and no one's going to look. I don't want to reassure today when I'm trying to do is reconcile. This. Chasm. Between the belief that the only way to make money used to be mess we frugal. Or two while third earned lots of money and live on the edge in you know take big giant shock to the world wouldn't. Just sort of try to get ahead by the one big to you know drive bay. And down. You know the problem is. Whenever you take on one of those two belief systems that and it permeates through life and for the rest of your life you're chasing the Celtic for nothing of the rest of your life you're living frugal to the point of you know it. Living like your poor. And you pick up or would call pour mentality you have that you have that poor man's mentality. Or you have to gamblers mentality. And people they don't want to be stopped and either one of those two. Really don't of the road map to get out of them today before we get out here won't try to give you Rhode miracle we're now we're talking about. Have been going over the parable of the talents in Matthew's point five in the Bible and we talked about. The first two. Are slaves. Being given talents directly in proportion to their abilities. So in other words you as a human being given income. According to your abilities were not we don't all have the same build. But when the Q did it had one guy got given five counselor to get to in the west I got one. The two that had more talent came back to thinking in the it doubled their tackles. In other words they've taken what they've been given by god. And when added done something. And that's all you can expect to do that if the guy with two counts go back with four he's given another chance to do it again he's gonna come back with eight. But it picking said but for you to have that right mentality we used to do the right thing with my money. I'm going to bestow upon you much much more power and wealth. Not just double it you've proven you understand how to own and control well. But other people don't know how to do that even when they're given talent and they make money they save some of the they go bury the money in the dirt and the third service. Goes back to the master. Princess. Well here's the declaration master doom the third service for different better serve kingdom's master with only the count his master had originally trusts him. In other words you were given hotel to go to work and earn money you are 2030 years later and all you have stove tell to go to work. To make money you have not done anything with the talent. Except use it. Associate. He did not increase as master mind at all in fact if I were to take place today the money would likely be worth less due to inflation. Disturbed at all for it feeble excuse for his conduct he told investors that he was harsh in cool man. It man who's demanding who expected gains where he did not Lieber that's a big sentences. He was harsh and cruel man or the world is a harsh and cruel place. Is demanding. He is demanding the were old is demanding. And you expect gains where there is no labor in other words here's a guy you who is a labor over. You've taken the talent god gave you an all you do with it is go to work. Earned spare and work. Earn and spend. You have not multiplied those tell insinuation to perform. Right and you are dead and as you labor Earl life. He people that have wealth because they make money would help. Working forty it it's called passive streams of income. Pass it streams of income and you hate the concept. That somebody could earn money without getting up going to work. Could be bubbles you it irritates you. It may Q Democrats. It makes you liberal. You think that the money should be equally distribute all those who live no matter where do you work for it or you don't work for especially if you don't work for the money. You shouldn't have a and because of this hatred. That's your excuse for your own failure. That's what this is the servant is saying. He contended that this is why he was afraid to take risks with all kinds of investments and source simply hid the money. And now he returned it without any game. Semester rebuke to sleep for being evil and lazy. He took his talent from him. They gave it to ward who burned. And cast his fellow would outer darkness where they're weak and mashed ration their teeth pro life. In other words. He sent guy returned tells the rest of the town and this guy to fail to live life quite desperation misery the rest of his life. Because he ruined his talent and you don't even when you're given talent reference. Let's say you were very talented some open given a name but brutality engineer. Eventually you get old in that tail will be taken away because you've done nothing with that you have nothing to live on. You'll not multiplied your talent. You worked annual bird. And you work and you heard and maybe even you worked and earned and saved because the last sentence in this deal is. The Mets are saying you know. The least you should have done was given the talent to the banker. Who could have paid me interest on while I was away. But instead you buried. Which is to get back over to the guy suspend everything they make and they can't save money. There it is there's the castle. You thinking money you're spending your money you're not saving money so you have nothing to invest. You have nothing to invest. You can't get ahead you can't create passive income. So the reality is is that both of these things are important to understand is that you cannot. Go Walter we should count spender demurred you do have to save money to build some wealth to invest. But it doesn't have to be large amounts to start out. So now. How do we cross this cast that's the final question here right. And remember doing a radio show while back a couple years backwards talk about. What my system ones. My system was. And Limbaugh have wondered. You have to be that great leaders and had nothing to spend money and so single guy worked out all the time. I know needs. Didn't care about fancy clothes or cars are an excellent. It was like to struggle for me I just picked a number it to do note before I had this job I had nothing none of this job I can live on half what this job is. Glad nothing before I had this job. So no live what happened when again. And I'll take that money that I received an a group by Iran house. And each time I buy it rent house I will now have 500 Altamont more income so by six of them in a year. And 3000 dollars a month more income. What I said to myself was okay. I now have this income 70000 dollars a year. At my job. And I now have another 3000 Altamont pass an income. My take home income. You know what 70000 effort cactus is only 3500 bucks a month nargis edit. You know this 3000 dollars a month to proceed on sort by houses. Terrified of twin brother Baltimore then 2500 all the monthly income and there I go forward looking at 3500. So dollars 6000 dollars. Among open income. Listed you know what I deserved to go up then and live on half of my 6000 month which is 3000 a month. And so another dirtier goals by and I bought I went from like ten houses to like forty ounces. Move pretty rapidly in my income went up again lets it you know now tick only income earned income it doesn't matter altogether I don't know what after that. And so what continued Doolittle won half the money it can't. But every time art owned more. I allowed myself mentally grown old tell you this is hard. The key to how could be hard no it was actually hard to stop spending the little amount I lived on the year before I was totally happy and satisfied living on the small amount. But I knew if I didn't. Hello my brain to experience could read this book about how people become old. Poor minded people that I would never change my outlook about life. And I would always be afraid of losing money more than of having and we're making money. It's sort took it upon myself to do millions. That I would find something to do and if first I had nothing do such hurt him going got a pregnant with my friends. And picking up to. Just poke fun to pick pick attic. And then I made a mistake let nobody know that Molson it was a five guys in tomorrow's twentieth there's thirty. And had to stop picking up the tab could study didn't go quite large but it was just a way to show myself that money comes easily to me. Because I know how to make money. I'm not going to willed like I don't. And that's what a what should think about doing. Of what she took. You so involved he becomes. It's a short break be right back with a Monday mail back. You're listening to the Joseph wants were great here. Dell will be right back with more life changing principles are just a few minutes. 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I'm due to the nature of the events he's spirited ride the bus for the day and work outages we definite retirement multifamily properties what do profitable property being run his business looks like in person and Dante color lifestyle unlimited members with local state and national awards year after year which path is right for you. Passive or is dependent on how to upgrade your profits by upgrading your hard and whatever you want open phew we made all day long. The bus ticket worth millions get yours at multifamily masters toward dot com. Lifestyles are limited we don't just teach members how to beat tiger in five years or less by investing in real estate. We provide access to good tools they need to make it happen. Houston to attend the free online class how to get the best investment properties to learn the property valuation techniques and tools. Go to getting the best deals dot com to sign up today. In the best deals dot com. What would happen if you can show for tomorrow. For the next couple of days per week. A couple of months. A year it how long until you lose everything you or forcing a fraction of the time it took her earnest. This fear keeps you up that night it's time to learn the strategies we teach and lifestyles unlimited. Start with the free workshop go to lifestyles unlimited Austin dot com and find your true financial news like so many of our members already. That's lifestyles unlimited Austin. Dot com 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 below also talk about how great it is to live in Texas we days five to seven on talk thirteen seven's Michael variation. Thirteen seventy. I can now here's some more unconventional wisdom just set you free the men on a mission to retire road America one per. Person at a time. No one's going. While the mega don't want to read a book show concern we're gonna go to do you can mail bag now and disperse where we're sure he's very private. I didn't ask for permission put it on to market news the name and try not to give away any specific facts. There might be due to a new believing you know who this person is because it's competitiveness and don't need to be reminded that all the solutions to more and take time. A ticking time in the whirlpool reading books and study. Thanks for resources. You must still provide I'll give you some background try to keep it brief in the last. Real estate market downturn until purchase wind houses should go better for sure but. Wasn't listening to vote based foolish things kind of afraid to do more damage is best is who monkey could do it. Sitting in October 2015. My wife was diagnosed with cancer. And got through surgery following him was back to normal so while that's positive attitude could see that. Past October she diagnosed with stage two. A different type of kings game which were series. Trying judgment to sound negative but there are positive components to this story. Being in 2017. My employer limited overtime deduction for her overtime. Reducing much seller by approximately 161000 holes theater. Thanks to a real state we are able to afford a non conventional treatments. Expensive. Broadway and off and not covered by insurance. So regardless of what deductibles and uncovered treatments we're doing falling financially. Not building capital's fifth who we were before but still component. Looking forward to next property being able to provide my life partner with the care she chooses so important to me. It's a great testament to all the rules state bench. I know you were survivor. We will look forward to give you an update hopefully should be used to have to got bush admin. For a couple things one hanging in there with your wife big server. Wonderful. Skated by number two which is even probably more powerful. As your junior with the structure reform. And positive attitude. Thank god and the blessing to you that you went out bought real state had a the insight to do it before it was necessary in your life will be when it wasn't necessary. It was there. It's a wonderful thing. And you know. I wonder how many of these kinds emails I get it in the year. These are as much of the ones as hey you know little have quite desperation that they truly enlightened turnaround. But to see this film to be his policy about which I can be dispositive. When you go through something as challenging as what the film school through so low fidelity and they have to use that so. I went about the need for him. On the personal. Collection process. On a single family housing should look at the house of minding. Or you Charleston LLC. You know conventional thinking if you're an attorney constitutes fueled high is the greatest. Protection. Liability protection for me ten being ocean view you. Put each all since I've been LLC now about what I'm not an attorney and dissipate. And I'm just give you my opinion. Multi experienced. Ago which is a little more than an opinion it's experience. Is that in the 27 years you've been doing this and tens of thousands actually. More than two things tens and tens of thousands of people who are members. 99% of them didn't put it in house inside and we'll see another as logical reason for that one is that. Trading day which gives the best loans out there long term bond. Callable loans. As opposed to bank loans which they can just pull modern times and Fannie Mae and thirty year mortgage you know they can't take I'll switch to making the payments. Interest rates lower amortization longer just a better loan all the way around. They won't go into an LLC. They were only lend to individuals known apartments that's different then they will wind galaxies but other houses they won't. So most investors who want to use. There Fannie Mae loan ability which right now currently use ten loan to the most Betty we will only do you feel less than ten moment in your name. They won't use a post and really good loans so they won't put any the first ten houses in an LLC. Then. What they might do later on its start by counsel with bank loans which are not his problem. Input 1007 LC. One out of the protect themselves in the mean time. Most of those that had house I don't know how to move the want to have houses what they're doing is securing. A somewhere between 30500000. Dolls liability insurance and he tells. Individually social perhaps solutions you've got a libel insurance. And then. Most of us also have an umbrella insurance policy over the top of that which is anywhere between 12 million dollars depending what your network and can you know reluctant protector network. Well let's say for instance focuses. Hypothetically you've got tender toward your thirty million dollars annually brought you to be almost ridiculous to buy one real secure government money. Do you waste your time each month apartment but if you wanted to. If you were to put an L but didn't jealousy of paper a little bit less squall. Quality loan just so there's no way to come back after personal wealth. Well from this this candidate district council's report you're among attorney. Almost told you what I've witnessed in the last 27 years with tens and tens of thousands of people this is pretty much felt the stuff he's dealt with. And essentially to. And given that no one here so rude love did you and you can do how you're doing it fundamental principle integrity. Sounds blessings. We're living with a wife how much like we expect by apple or applicable total can we do with little or no time no I'm sorry longs for sure to run on tiger. Bottom line is if you're gonna only department to do by yourself and be independent owner and managing yourself. You're gonna have some time invested in the deal. There are ways to make it where you don't have time doesn't deal I just don't have time what the message children going to that problem we hold yourself so often look for other keep in mind. Not the money will go to his fuselage double what they'll see you tomorrow. I. The radio show. Can obtain the rest. Enjoy seventy. Can't get enough. Just enjoy. Okay. 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