U16 – StratLife — Entrepreneur’s Strategies
0:00
All right, everyone, we’re gonna go ahead, and we’re going to begin the program. I don’t know what the issue is. We’ve had a significant amount of people that have registered for this.
0:09
So, this webinar, the webinar is being recorded. for those that can not make it, they’ve already paid for their space in advance.
0:17
You will be getting this webinar via e-mail. It will be e-mailed out to you.
0:21
When I just do some, a few edits in the front, which is just basically, uh, me be silent and breathing into the mic, which is very creepy enough, you know, so, do you want to hear that. But it’s like.
0:38
Ah, ah, ah.
0:45
So anyway, we’re going to teach you guys about the dark side, the real dark side, we will teach you about how to go gorilla.
0:50
We have with us my buddy, my colleague, John Singleton, from privacy fight dot com and John, I’ve been working together for a myriad of years. He’s helped a tremendous amount of my clients he’s helped myself.
1:02
And gentlemen, when it comes to this was so good we’re like peanut butter and jelly like I mean like Batman and Superman and the Green Lantern. I mean, it’s just It, just, it, just go! I mean, it’s perfect.
1:16
I have a heavy background of banking, commercial banking, offshoring how things work. How to move money around is just my forte.
1:23
That’s what I do, people always ask me, What do you do for your day-to-day job? Well, that’s what I do. For my data job, I move money, and I move assets.
1:29
That’s it: John is the best there is that I know of Peoria and I know a lot of people, and I have a deep and wide Rolodex.
1:38
John, is, my Go to Guy for understanding the legal system understanding of things Play out He is one who really?
1:47
Gets it, number one. And number two.
1:49
Is somebody who’s been kicking the bankers in the nuts for quite a number of years giving them a hard time, and we’re having fun doing it Philosophy that John, my habits is quite simple Break the rules, But don’t break the law.
2:02
Break the rules, but don’t break the law.
2:06
And number two thing that John.
2:09
I don’t have is when it comes to this likud Satanic system John and I have no hang ups and calling us for what it is and it is unethical. It’s also variant. It is evil It is designed to pinch you over and ***** you. It is designed to exploit you. It is designed to waste your labor, your time, your talent, and your treasure.
2:30
So when it comes to that, we don’t care.
2:33
We don’t care about the system.
2:35
We to **** with the system and any chance that we have to exploit the system legally mm hmm. I don’t care about ethics year when you when you’re dealing with a system, and I’m going to explain to you guys how unethical the system is.
2:48
We don’t have a problem and exploiting it. So today’s seminar, you guys, you’re gonna get the first row seats of how this all works.
2:56
You’re gonna learn about credit, Going to be learning about personal credit, corporate credit, You may learn about banking, going to be learning about how to set up banking, how to buy crypto, right, how to buy gold, right, how to get assets, how to take care of liabilities.
3:10
You will learn about how to protect yourself, you’re talking about, won’t, be talking about how to get your credit repair. And I’m working on a program that’s going to be available to everybody on download, it’s gonna show you how to do that.
3:20
And there’s a whole litany of other support services that John Laufer, which will blow your mind away, especially on protecting your assets, protecting yourself, and protecting your privacy.
3:31
So we’re going to begin this program.
3:33
And I guess, John, like, Oh, I’ll start with you, John. I’m going to let you go.
3:37
I’m going to let you begin this program this webinar, and talk about your programs.
3:43
You have to say your services, the biggest litany that you want, even things that you want to cover, you share your screen, whatever you want to do, then I’ll come in on my side of things, and then we’ll do a Q&A at the end, and hopefully, by then, we’ll have more people. There’ll be on this call, sir. Sir John Singleton from privacy, fight dot com. Welcome aboard, sir. How are you buddy? Really good. Thank you, Jay. Yeah.
4:08
Um, these are tools and strategies, that you can use, and I think it would help to have a central focus. And a lot of people have been asked me recently about how to deal with homeschooling or taking their children out? And I look at it, like, It’s a business opportunity.
4:24
I know some parents don’t really care about getting into a business. They just want their children to go to school.
4:29
So, in, in a situation where, in your neighborhood, maybe there’s several families doing that, actually, it’s good.
4:35
Probably going to be quite more than that. But it’s useful to collaborate with people And maybe some of them want to run a business doing homeschooling.
4:43
And then some of them just want to participate.
4:45
And I think that may be a good example of a business endeavor you might want to do.
4:52
And then what he is talking about, some of these tools would come into play in that in that process.
4:58
Yeah, absolutely.
5:00
It’s interesting.
5:02
Other problems when you want to talk about, yeah, we all, I’m getting e-mails and text messages from people who saying that the link that I gave them is not working so strange.
5:20
So, we are one …, a Zoom, is having some issues. There’s been a nationwide issues with Zoom, as well as the Internet, if you look at the outage map. My internet was down all last night, evening.
5:33
Today, it hasn’t been running, right.
5:37
Zoom has been having issues as well.
5:39
There’s been a few problems live on this meeting.
5:44
I have no idea how to But, John, if you continue talking, I’m going to try to get everybody on board, and the same page, OK. Well, to be specific about homeschooling as a business, parents are taking their children out of school and now they’re, they’re doing it out of frustration, or thinking.
6:01
There’s no other option which I would agree, I think, taking your children out at this time, because of what’s been done to our school system, the public school system, even the private schools, I think it’s a good plan. I know that I took my children out about 10 years ago, and it was really stressful.
6:16
I kinda wanted to do it, but I didn’t know how I could do it. And it took.
6:20
It took about three months really to just get the knack for it, and what I handed ended up doing was compiling a curriculum, and changing it all the time. But, having my children do, you know, that curriculum and also bringing in sometimes tutors, and now we can use internet courses and video streams and things like this to supplement the things that I would come up with.
6:43
So I’m not gonna give it examples of what I’ve done with my children.
6:46
But basically, if you’re wanting to do this, I would look at it like a business opportunity for either yourself or and or other parents in your area that you guys can work together and share resources.
6:58
In fact, even share time to where maybe you get a day or two where you’re not doing anything with your children and they’re off at the neighbor’s house with 15 other kids, and they’re doing lessons, and then they report back, just like at the regular school system. And everybody knows everybody. And you can do this in small groups. And so I wanted to go over, I made a list here.
7:18
I want to go over a couple of things to consider, there’s there’s about seven things here.
7:25
Basically, all you need to do is reach an arrangement with other parents. You can do it by yourself. I don’t recommend it. But reach an arrangement if you came with other parents, that there’ll be willing to collaborate with you. They have some ideas about what they want their children to learn.
7:39
Some of them will just depend on you. Some of them will want help from someone else, and then after a while, you guys will reach a consensus on what can be available and you will work together to do that. So you want to try to come up with what would be called a curriculum.
7:53
And I don’t really have to tell you what the major subjects are.
7:55
As as your child gets closer to the, you know, 16 years old.
8:00
Or so, you may want to look at the GED crate criteria to see what what the basics should be all right there their educational background should consist of and I would use GED standards for that purpose.
8:13
And we can get into GED because I can explain about that.
8:17
As far as the end game goes, like, when you’re all said and done, how does my child graduate? You don’t need to graduate from the county in the GED Program.
8:24
That GED program is a proprietary trademarked service, OK?
8:28
That the county owns, or something, some version of that.
8:31
You don’t need a GED type participation with the county in order to get the same GED status.
8:39
In other words, you could just graduate from your home, your family, and go to college, and still meet the criteria, So we can get to that later, but. as far as curriculum goes, you can put it together. You can copy what the school was doing, you can augment it some way.
8:52
You can do things differently than other students, are doing, but probably you want to write it down so that you know what you want for your children, and then collaborate with others, so everyone can get what he wants out of that arrangement.
9:05
You want to get together and find out what kinds of supplies, and everybody can bring his own. That’s pretty simple.
9:11
You want to look, OK, now, if you’re going to do it as a business, probably, to make it right.
9:16
I would say you need to find a place where you can be, where there’s, you can hold 15 children or seven children. You can have them in a place where they can comfortably do their assignments. Listen to lectures. Maybe it’s going to be grouping them by age, or grade, or something like that. You can work that out, but let me suggest this one thing.
9:35
Not that it’s necessary, but you could get together with 2 or 3 other parents and find some commercial strip mall space shopping mall space, where there’s a vacancy, which, I’m sure we have plenty of and most places.
9:48
So, find that place, and I would go to a place that suitable, as far as the space goes in location.
9:54
And get a list of all the parents that may want to participate, OK, and then go to that place that suits your needs.
10:00
And hopefully, it’s a place where the owner of the property just desperately wants to have tenants, right, because then you can get a commercial lease agreement on pretty good terms.
10:09
And three of you can get to get in there and do a commercial lease and get access to that spot you can get.
10:15
If you need a certificate of occupancy, you know, all those things can be handled.
10:19
I know that may sound down daunting for many, but think of this, you can use a property manager or broker to help you through that process. You don’t have to re-invent the wheel.
10:28
So when I say, you know, get some commercial space, I’m not saying, oh, yeah, it’s easy. Everybody can do it. And I know it’s not something I even, I’m an expert at. I would use a broker, or an agent, or someone to help me with that process. So you always have people to help you do that.
10:42
Then, as far as funding goes, sure. You can just get the right to occupy that space. Bring in your furniture. Do all the decorations and whatever it’s going to be. Put all your tools in there.
10:53
Get your Wi-Fi connected, meet your county requirements, maybe you need water fountains, maybe restrooms, all this stuff, OK?
10:59
That can be all done through volunteer basis.
11:01
But at some point, you may want to turn it into where you’re actually making money.
11:06
So the way you make money in an operation like this is, you don’t need millions of students. You don’t need thousands of students to come on site.
11:14
You just need the facility to be usable by a certain number of people. So one of the things you want to get, or look at is, look at all the supplies you’re using for the schooling.
11:24
Look at the types of computers and who’s providing that? What are the brand names?
11:29
Same thing with furniture, and other types of materials that you’re using to supply the school and facilitate learning. These would be potential sponsors. A sponsor, as a business, that would provide a product, that, instead of selling it to you, will give it to you, because you’re going to promote the product.
11:47
You can pretty much do that, with almost anything.
11:50
OK, that sponsors, that is money, that is, cash flow to that homeschooling business.
11:57
So it’s an option for the people organizing this, and again, I’m not saying, look at homeschooling is you want to be a super millionnaire I’m just saying, of an organization like this, needs cash flow to function, Just like, you know, your body and blood, It just needs money to keep things working.
12:14
So, the money in this type of operation is a tool for that business, and yeah, you can make a living at it. You can pay yourself a salary if there’s enough money, I’m gonna show you right now how you can make enough money for this.
12:27
The other thing is you can have memberships, and the memberships would be by family and the price of the membership.
12:31
Maybe it’s monthly, maybe it’s quarterly, whatever you guys workout can be based on the number of children in that family that are enrolled in that program or school.
12:43
You may also be able to market individual programs from your school or complete curriculums. There’s all kinds of ways to price it.
12:50
Just like a product for any other company, OK? The same thing with. So you have sponsors, you have family memberships. And then you have professional memberships. That would be people like that are professionals that are teachers, that don’t want to be in the school anymore, that public schools, or it could be tutors, or it could be people that want to be assistance.
13:09
And they’ll come in and they can pay a membership fee or a per hour fee to use the facility, and they may bring their clients into your facility, which may also create more advertising marketing for that type of operation.
13:22
So, it kind of works both ways.
13:24
And so, you have different kinds of contracts. You’ve got sponsorship agreements, you got family, memberships, individual memberships. Maybe there’s in the evenings. You might have a parent class. You might have a class where a mechanic in your neighborhood is going to teach small engine repair. Or maybe it’s going to teach how to change the oil in your car, or something like that. They can provide that right near the facility or at the facility.
13:44
And you could do it through your organization.
13:47
So you have professional memberships as well.
13:49
And then you have something called licensing, where you could produce content.
13:52
So for example, let’s say you have a class, one session, a class on Tuesday at 9 0 AM, and there are seven students in the class, and you’re going to teach, Intro to Biology, you’re gonna start a biology class, OK.
14:04
So you record this biology class on video, and maybe you have two camera angles, you can do whatever you want, you take that content and make it available under licensing terms, and that’s the property of the school.
14:16
So any content produced there, you have an agreement that says, it is the property of the school and the school retains all licensing rights over it, so imagine a class that takes a whole semester where there are seven students and you do a whole Biology Intro to Biology for a whole semester, OK.
14:31
And there’s probably what would that be like, 45, 45 classes, let’s just say.
14:36
And now there’s content for that and you can license it out for years.
14:41
You can even have testing with it and so forth, and you can license it out to thousands and thousands of people for years.
14:47
What kind of funding does that look like for an operation like that?
14:51
You know, it’s really helpful, and you could expand it, and this can be copied, like, kinda like the Chinese restaurant model, right?
14:58
It’s not a franchise, but people copied the buffet style, Chinese restaurant, they just copy it, that can be duplicated in some way.
15:05
If you want to duplicate it, you can do consulting, you know what, the next operation, Maybe it’s four miles down the street, because your, people don’t want to go over there, but they’ll go over here, you know what, It can work like that.
15:17
John, let me ask you questions.
15:18
You know, the interesting things that you talked about with with homeschooling and what not, but also, with a lot of different business ventures, that, that that A person can do, are you able to discuss, and, again, when clients contact you for more personalized work and service.
15:36
Can you discuss here on the web, on the Web?
15:38
What are what a private membership a PMA would look like?
15:46
Would that work into something similar like this?
15:48
Yeah, that’s a good question, I mean that would be the only way I would organize this as a PMA because could you explain to our members what a PMA is, and why this is hidden from traditional banking? Why this is hidden from traditional corporations and whatnot?
16:04
Yeah. Well, a private membership association, OK, and there’s many names for it. You call it an unincorporated association. You call it a society, a club.
16:12
The reason why, well, it’s hidden, because you have so much power and leverage with it. You’re able to organize a business an association like this. Like a school. You can run a school as a PMA, and the State cannot tell you what to do. The State cannot come in there and regulate you like it does for the public schools.
16:27
Or even private schools, you can pretty much do whatever you want.
16:30
Without the let’s call it regulatory compliance, because you’ve created a little bubble in your community, in your county that’s excluded from all these regulatory conditions, except for anything that would prevent you for, penalize you, for doing things that are substantively evil, is what it’s called.
16:49
So a PMA, it gives you the freedom to do whatever you want.
16:51
It’s like I said, you, as parents you get together you basically create your whole platform, you. You are the school board.
16:58
You make all your rules.
16:59
And you don’t have to comply with the county, OK?
17:02
As a PMA you don’t have to register your school with the county. You don’t have to register the students with the county. You don’t have to do the county’s curriculum as a PMA.
17:11
That’s very powerful.
17:13
Yeah? That is very powerful.
17:15
What are some of the examples that you could cite for the PMA and that and also any of the examples that you have done successfully with the PMA and how that’s power. You mentioned powerful.
17:27
I don’t think people understand how powerful it is.
17:31
Go for a job.
17:32
Well, it is so powerful, you can go search on the Internet for yourself, go search on the Internet for physicians that are using a private membership association to actually cure people of diseases that you can’t even advertize for, like, for example, curing cancer.
17:45
There are physicians that are doing that, but they’re not doing it openly and they’re not advertising it, but what they’ll do is form a PMA, and then their clients are treating.
17:53
The patients will be then invited into the PMA membership, and then they can be treated for the thing that they can’t advertize.
18:01
And they can have their cancer cured. They can use the right machine. They can try these other experimental treatments without all the FDA regulations in your State Board and Department of Health and all this garbage.
18:12
So you’ll already see this for … but you can do this with any any business that’s open to the public, for example.
18:18
You could, if your business is open to the public, you could likely convert it to a PMA, so you would make it a membership organization.
18:26
And like, for example, the way I recommended I talked to one business owner and I explain how he could on the business entryway. He has a strip mall location.
18:37
I said, all you’d have to do is put the term private membership association underneath the name of his business, and then operate it that way and realize what that is. And he says, Well, what does that mean? We realize what that is. I said, Well, you understand a private membership association is a private club in the county cannot come in and interfere with that business in any way, unless you’re doing something like manufacturing rocket, fuel in the back room, or something like that, then, then they’d have the right to interfere with it.
19:01
But if your business is doing a thing, like maybe it’s doing like a hair salon, right, or a dentist office, or a chiropractor, it could be a PMA, and you could do things that are beneficial to people.
19:14
Where you would normally be harassed by the county or the State, now they’re excluded.
19:20
Lotsa leverage Absolutely, absolutely.
19:23
Very good. Glad. You discussed a little bit of the PMA. What else do you have in your structure and your rep in your bag of tricks? So to speak. All right. Well, one of the things that one of the things I recommend that people do is when you want to like create new cash flow, let us say this is easy for people to accept. The possibility. That you can make $2000 a month more than you’re making now without taking on a second job without working more than a few hours a week.
19:49
To make another $2000 a month. And one of the things you’ll probably end up needing is a merchant account.
19:54
And many of you already have one anyways. You probably have a PayPal account.
19:57
So if you’re going to do as a homeschooling operation like this, where it’s a brick and mortar location, you’ll probably need a merchant account.
20:03
Things like that, you know, simple things. So just keep that in mind.
20:07
But yeah, I mean, the PMA, I’ve used that over the years for, um, avoiding liability in a business structure or an investment vehicle. Like if I’m buying real estate or stock, and I wanna own the vehicle, if I wanna own the company or the trust, I might use a private membership association as the stock owner.
20:26
And that way, there’s no divided interest, which means I can manage the the stock profits any way I want.
20:33
Until the point where I choose to pay tax on something, I don’t pay tax on it.
20:37
So there’s all kinds of ways to defer a tax liability or protect assets or income or property rights from creditors using an unincorporated association or an undivided interest. In the PMA does it for that purpose.
20:52
It does it for the regulatory compliance issues, and it also does it for liability when it comes to money.
21:00
Oh, yeah.
21:02
Yeah, so, I mean, if you want to get started with it. I mean homeschooling, I think, is the way to go. I mean, I think we should have been doing it years ago. Now, I think we’re really motivated, a lot of us, and I know you’re probably throwing your hands up, go on, my gosh. I don’t want to be a teacher. I got a second. I got a job here, and I have to we need our You know, I have to do this other job. I don’t have time.
21:20
But if you plan it out and you co-ordinate, collaborate with your neighbors, others that want to do homeschooling, get on some discussion forums on Facebook or whatever, and try to meet with other parents. There’s some on the Internet. You can join some groups, meetup groups, OK? Connect with other parents.
21:36
You’d be surprised. You could have a part-time job and still home-school your children with the help of other parents.
21:43
There are some parents like me.
21:44
Well, I’ll tell you right now for free, I will write up your whole curriculum and give it to you.
21:49
There are parents that will do that.
21:52
So, this is just the core, you know, starting of the the plan V: did you want to make this available is just one little page PDF file?
22:02
Did you want to make it available? People want to download it?
22:07
We could do that.
22:10
I can do a screen share and show you. But I think you guys want to see the document.
22:16
It looks like you’re muted out.
22:18
I apologize, But, yeah, let’s do that. I think you could put it into the chat box. If you go to Chat, OK? And there’s a File button right there, you can upload the file like that, not everybody. That’s, You know, if you go into Chat, you can go ahead and download exactly the PDF that John has in terms of Documentation of origin.
22:37
All right. Yes, I slide it over there, so, but yeah, that’s the general idea.
22:43
Are there any questions that would help to have some questions?
22:45
But I mean, you get me talking for two hours because to me, I’m just thinking, well, that’s how I do it. Have a Nice day! Yeah, I know there’s a little bit more to it than that.
22:58
Does anybody have any questions? You can raise your hands, and you can get called upon.
23:03
See here.
23:06
Time?
23:08
Alexandra has a question.
23:10
Yeah, go ahead, Alex. Glad Buddy. A lot.
23:13
Alex, OK, Good afternoon, good evening, good afternoon. But yes, we can hear you go for it out, OK, appreciate it. So, I guess what the technical difficulties or we hopped in mid discussion, so I just wanted to make sure I kinda if we could do just a quick recap on the topics. The first thing I heard was, you know, using a PMA to kinda get set up.
23:32
Because it allows you the flexibility, and then you started talking about no creating new cash flow. Was there anything else to those big overall things that you mentioned? I don’t know if I missed anything jumping. Specifically, the example of the homeschooling and we can talk about other businesses. We just decided to pick homeschooling because it’s going to be so popular right now. But for homeschooling, like I said, you get a few parents together, OK? So this is what I forgot to mention.
23:55
Give yourselves a name.
23:57
There’s something school PMA, and then that becomes your name.
24:01
So when you do the commercial lease you would use that name in your Commercial Lease Agreement, and then each of you or one of you would be the guarantor on that Lease Agreement. No problem, go ahead and do that.
24:10
So just make up a name, and then designate it as a PMA.
24:13
Just like if you would set up a corporation like an Inc, it would become a I N C period or it would become an LLC, OK, or trust. In this case it’s going to be PMA.
24:24
Now Azure operation continues.
24:27
You’ll eventually reach a point of like you’ll have administrative rules.
24:32
Like for example, you’ll have maybe a conflict will come up and you guys would say Look for in the future. Let’s just do it this way, right?
24:37
So then what you do is you will develop a policy and that policy becomes part of the PMA. Let’s call it the Articles of how we do things.
24:45
The policy, the PNA, that can develop organically over time, or some of you may think, Hey, let’s, let’s head off any disputes and we’re gonna say this from now we’re going to do this. We’re gonna do this.
24:54
We’re gonna do that and that will begin the written version of your PMA.
24:58
You don’t have to registered with the State as a business can, but you don’t have to. So and John, how does one write up a PMA?
25:07
That’s something that you do, but can you share with the audience a little bit of what it looks, like, what do they have to do on there, and they have to go to like, get it notarized.
25:16
What do they do, OK, I can write the terms up, uh, but you don’t need to make it so formal. Dare not be notarized, but a PMA would be like, Let’s say you and your neighbor.
25:28
I do this with my neighbor, I have some lawn equipment that I share with him, so we just kinda work it out.
25:33
So, when he needs that, he knocks on the door, and I say, Yeah, yeah, so, our to our terms are, we both own this lot equipment, and as long as I’m home, just knock on the door. And I’ll give it to you, OK, that’s our, that’s our deal.
25:46
That’s a private association.
25:48
Well, that could be more complex, let’s say it’s me and two of the neighbors, and we have. We’re homeschooling so our kids go to their house on Wednesdays. And we work it out. And so, in the articles, were going to sit down, and we’re going to agree on something.
25:59
Like, for example, I don’t want my children to learn such and such, but I do want them to learn this thing here, Right? And maybe I don’t want them to have *** education, but I want them to understand, You know, this other thing.
26:09
And then, they might. Another parent might say, well, then, OK, fine, then I’ll take care of that part. But then if we’re all agree on this thing, that we’re going to do this, so we write that in the articles. We might also write, like maybe there might be a need to handle money.
26:19
So then one person or two might be designated that authority in the name of the PMA, and we would just write that out. What does that authority mean? What does that look like?
26:29
Maybe a person is going to open an Account DBA, the name of the PNA.
26:33
It can be that simple, and that’s written down in your …. You guys just write it down, like I said if you just start working together. You don’t have to make this so complicated.
26:42
Start working together and as like in your first meeting, just say here’s what we’re going to do And you write that down. Maybe it’s one paragraph.
26:48
That’s the beginning of your articles of your PMA.
26:53
Absolutely.
26:56
So let me ask you this, John, OK?
26:59
You and I one of the things that we kicked around and was and here’s a little tidbit I wanna give to people.
27:05
What am I creating a PMA for those who want to go ahead and let’s say buy crypto or buy gold?
27:14
And people are like, well, it’s a big deal.
27:16
I gotta do that, I can just go on Coinbase and, and, you know, give every bit of data which I’m gonna get into in terms of data and how that’s used and how if you’re still use it. Utilizing social media.
27:27
You are basically be very foolish and frivolous with who you are as a human being.
27:34
Because you have value, you have value and you’re being monetized. You’re being bought and sold, and I’ll get into that later, but John, how would how would that work with?
27:42
Say crypto buying, let’s just say also, PMA and banking, PMA, business, Some instances, where you would use a PMA as opposed to an LLC or a Corp.
27:56
Well, I would use it where you have liability, and the way I like to avoid liability, financial liability, is where I live.
28:04
I have an undivided interest, and so I take my, my ownership rights over something. Let’s say I set up a company. Like most people do.
28:11
They go set up a business, and they do an S corp, and they make themselves the owner, and they don’t realize that they have zero corporate protection because they’re the sole owner of the company.
28:21
But if they added their business partner in there, OK, now you have some protection, because, like, for example, an LLC, as long as there’s no divided interest, neither of the individual members, his personal debt would never attach to the company property until he gets paid, right?
28:36
So that’s a simple version of it, so I would use a PMA as the owner of the company I’m using to be my account holder.
28:45
So my account holder would be at PayPal, my LLC, for example.
28:49
My LLC would be a stock trading house. My LLC would own real estate or the receivables to the real estate. It would own real estate securities.
28:57
It would own cryptographic currency. It would sell precious metals for me.
29:00
Everything is done in the name of the LLC, and then ultimately the owner has the liability, right?
29:06
But if the owner is an unincorporated association that has no tax liability whatsoever, as long as the owner owns the company that owns the asset, there’s zero tax liability until I pay myself something in dollars.
29:20
That’s a, you know, pretty simple example of how you would avoid that type of you know, debts, lawsuits.
29:26
I mean, if you can if you can avoid the need to defend the case, then you just avoided the litigation costs. Whether or not anyone is irrelevant now.
29:33
It doesn’t matter. It does. Yeah. So long as you haven’t murder somebody or defrauded somebody, you know, we’re just like, Severe.
29:44
You’re fine.
29:45
The ****, They’re stupid courts.
29:48
That’s what a PMA will do for you. And you can I call it ….
29:50
You can make it unincorporated Association, you’d call it a society, would ever. But the concept is that it’s a thing that has property rights, and I can give it the property rights that I had exclusively, and I put it into this group.
30:02
The name of the group, and because my exclusive property rights are now in the group, there, nobody has exclusive rights. Therefore, nobody has any liability until I take it back. And I can choose what if I would’ve ever I will take it back.
30:16
Perfect.
30:16
So the key here is to set up a multi-member where there’s more than one person LLC, right? Single member, I would say yeah. You don’t need to go, so single member LLC, and then you create a PMA underneath that make. The PMA. The owner that is the PMA is the multiple multiple member.
30:38
But but no one can ever discover what that is, see, if you make the LLC. The multiple member. Everyone can see who the owners are, which is fine.
30:44
So people want their privacy know, so you could do it different ways, but I like to make the all the owners who do have an interests like I did one recently where it was a partnership or for people and I made the partnership.
30:55
I took the company’s partnership agreement and I made that the PMA agreement mm. And all it said was the name of the PMA and the articles when I filed it they still don’t get to see. Nobody gets to see who owns the partnership. All they know, is the LLC is owned by the PMA.
31:11
And so it gives you that. And then what’s interesting is the Bank Secrecy Act precludes banks from asking questions about the PMA. They’re not supposed to They’re not required to find out who owns the PMA.
31:22
They’re only supposed to know what does a PMA do? Well it owns the LLC, OK, fine.
31:28
Then they get that. Then you get the LLC’s EIN tax number.
31:31
The LLC is the account holder. The PMA is not the account holder.
31:35
The LLC gives up all the information that … certified, copy, the articles, all that.
31:39
The signer gives up his all KYC stuff, and then we’re good. We can do our accounts and everything, and there’s zero liability for everybody involved.
31:47
Beautiful!
31:48
Excellent. Any questions from anyone?
31:54
Be a great time to ask questions. Yes! Any any questions?
31:59
Got Alexandra, again, hold on. Yeah, yeah, Bank Garnished.
32:04
OK, yes, go ahead, Alex, OK.
32:08
Yeah, so currently I have an LLC set up as an S corp, but you’re saying as a PMA, just for clarity in the PMA should be owned by the LLC.
32:19
No, no. What you do is an S Corp.
32:21
You could keep on running as an S corp, tax situation is all the same, but you you don’t have any protection.
32:29
Your accountant set it up for tax convenience, OK, report.
32:33
So what you do, accounts are not risk managers.
32:36
They’re not even investors or, you know, so what you do is you amend the articles with the state and where are you Let’s say your name is John Smith OK, so he made you the owner, let’s say. you own 100%.
32:50
So John Smith is the owner.
32:53
I’m going to amend the articles and I’m going to add John Smith, comma PMA to the articles and make him and the other member.
33:03
OK, when I amend the articles.
33:05
So there’s a document you file with the state that’s amending the article. So I add the name of the PMA, I just so happen to call it the same name as the current owner.
33:14
It’s not the same oh it’s not the same thing. I just use the same name.
33:18
Once I add the PMA. in the next line I remove the individual owner John Smith.
33:26
So now John Smith was the owner, now John Smith, PM, as the owner.
33:30
John Smith … in all caps. Not that that’s so important, but John Smith, PMA, is the new owner.
33:36
And the PMA is where I have all the property rights Before John Smith. It was obvious. He had all the property rights.
33:41
Now the PMA has all the property rights.
33:44
Now, John Smith is: Tax liability is what it was before, OK? And we could talk about that too, because that’s another way of reducing tax liability using a PMA. That’s not necessary. But you can use a PMA for this purpose.
33:55
You can have zero tax liability, but I did this for someone a couple of months ago who’s being sued, and I said: All right, Do you want to fight the case? He’s like, Well, not really. I said, No, I’m sure you don’t. I wouldn’t neither. Let’s just eliminate your risk. That way. You don’t have to get into the court.
34:12
You don’t have to fight the case, because you have zero risk.
34:16
So all we did was filed an amendment to the Articles and replaced his name with his name. Come Up, Hear Me.
34:22
It’s that simple.
34:23
So he no longer had the ownership interest in the company, and all that interests was not attachable.
34:31
The PMA now has no liability to anybody. It’s a new entity.
34:35
And you’re off the hook.
34:36
Now, he can, when the attorney can win the case and lose the case, because he’ll never, he’ll never collect anything on it, even though he won the case.
34:50
Yeah. It’s kind of like the Wyoming approach, basically.
34:56
Now, having a registered agent on file.
34:59
So, all kinds of states require a company that’s registered with the state to have an agent.
35:05
Yep, they’re having while.
35:06
I mean, I have a while, I have several Wyoming LLC, they do require restoration, They all do. Yeah, OK, so that has nothing to do with, what I just said, risk management, what you want to do is change the ownership.
35:17
The ownership is where you have the liability.
35:19
So if you do not have the exclusive ownership and the ownership and the stock or whatever cash bank accounts, if that ownership is owned by a group that just has a name and we don’t know who’s in the group and we can’t discover who’s in the group, then no liability could be attached to that, that asset.
35:34
Let’s say it’s cash, the only time that money can be taken is if it’s disbursed to the party who has the liability, like get my paycheck.
35:43
All right, which I control.
35:45
OK, John, real quick is a question. I have a question from Brandon particles. In the chatroom: can I put my house my pension, my precious metals?
35:53
My cash, my crypto inside of a PMA, not exactly. You can, OK, I’m going to caution you on using a PMA with the world. Use that as the owner of a trust, or the beneficiary trust or an LLC.
36:07
That’s a better way to do it, but you can title your house in it. You can also put a lien on your house. You can put a lien on your car with it. You can own your car with it. You can own a business with it. you can own your rental income property with it.
36:18
You can buy real estate securities.
36:20
You can do anything that you could do in your name with a, an LLC owned by a PMA, I like to say.
36:27
But, yeah, the PMA could hold your property rights and avoid all kinds of liabilities. Yes?
36:35
And the later on the broadcast, we’re going to get into the B value of having a PMA, or a …, or some sort of the other entity that you control, that you control all having a lien against certain a certain property.
36:51
That you have, IE a car, IE a home, and we’ll get into how that protects, protects you from, from any sort of litigation, because, here’s the thing folks you want to be bulletproof.
37:02
Right And one of the full philosophies that I have is to John Rockefeller follow …. Right. And that philosophies, own nothing but control everything. You have to own nothing on paper. If you don’t want asset search on me, I have nothing. I literally have nothing on assets. I mean, you wanted to sue me tomorrow. There’s nothing to suit.
37:22
Yeah, Maybe, Yeah.
37:25
Yes.
37:26
Yes. Yeah. I literally would ignore you when John sets up a client properly.
37:32
Absolutely.
37:33
Now, what I was saying is that when John sets up a client and somebody sues you lay down the road for $10 million you’re gonna laugh at their face, but yeah. I wouldn’t even pay attention to it.
37:44
Yeah.
37:46
On the IRA, the pension funds, OK, I have other concerns about that, because you’re missing opportunities by trying to get tax benefits.
37:55
And I know maybe it’s new for a lot of people to think of, but my, my best use, my best recommendation for the best use of capital is to get out of those IRAs.
38:03
The IRAs are already trust accounts.
38:06
An IRA is a trust.
38:08
So, you have to follow the statutory trust rules, which are, for example, if you do a self directed IRA, you need to have an LLC that’s dedicated for that purpose only.
38:20
It becomes the trustee for that IRA, there’s gotta be a trust custodian of all.
38:24
And you cannot use it for anything else, And it also has to have, in the operating agreement, certain provisions that are required for tax purposes. So, you’re really limited with an IRA.
38:34
So I’m not, I’m going to tell you an IRA, Maybe you have exemptions with an IRA and stuff, but you’re missing opportunities to make money with your money, when you’re letting someone else try and make money with your money, You’re not investing, if you have an IRA, someone else is investing with your money, is that an investment for you?
38:51
Certainly not.
38:52
I would happily pay my penalty and take the remaining money out of my IRA and go use my wits in, trying to invest somewhere and hope I make some money. And if I lose the money, great, fine. If I make some money even better, but I would rather be in control of my money.
39:06
So your biggest risk on IRAs is not the title of the property, It’s missing opportunities.
39:14
Absolutely.
39:17
Yeah, You have some things right Where you.
39:19
You do a rollover for IRAs for Gold, right?
39:22
Yeah, We’ll do a rollout.
39:25
Yeah, absolutely, we do rollovers for IRAs, for gold, for Kryptos, for, you know, you want to buy a business, you want whatever the heck you want to do, but, you know, Accumulated assets were able to help you with that. That is not a problem.
39:39
You don’t want to just parked in their money to work, put your money to work, you know, I spoke to my dentist and he was asked me about this. His account was having to do crazy things, and I said, You know, you just shown you how to get tax deductions and create more filing things for him to do, for, you know, that’s not really benefiting you and he’s not an investor, Anyways.
39:58
And I said, Because what do I do? I don’t know any, I don’t know what else to do.
40:01
And I said, Well, I can’t tell you what to invest in, but I can tell you this, instead of looking for tax benefits, start shopping for things.
40:07
It’ll give you return on capital, and the technical phrase for that would be internal rate of return.
40:13
Net present value, right? So, if you have $100,000, there is a thing called net present value that can be used to measure the value of the $100,000 today, and in 10 years from now.
40:24
So the other question is, the longer I sit on that $100,000 and don’t do anything with it, that net present value is negative, I’m losing money. If I put it somewhere, will I have a chance of making a positive? That’s way better than trying to get tax breaks on it.
40:38
So that’s the first thing, is start.
40:40
start looking for things that produce return on capital, and stop shopping for tax benefits and interest rates.
40:49
Absolutely. Anybody else have any questions?
40:54
John will move to the next topic, then, then I will jump in with what I have to say. Anybody else? Any questions?
41:01
Alexandra, Hold on one second.
41:08
All right.
41:10
I’m sorry, I don’t know what else on the floor. I didn’t have any questions. I understand the structure set up now.
41:14
Yeah, perfect, awesome, OK Cool, anybody else have any questions?
41:20
Just so you can raise your hand.
41:23
Just hit the raise hand button, and it’ll allow you to ask your question.
41:27
And I don’t know, unmute you, and you can speak freely to us, if not, John. You can continue to the next section of what you are going to discuss.
41:36
Well, there’s a question in the chat room right now up, Matt Long is asking the question. are there books on PMS?
41:45
I don’t know of any. I don’t. I don’t think so. Guys. Here’s the thing. Let me just say this.
41:51
Everything you’re about to learn right now. There’s no books on it.
41:56
There’s, you can google search it. I swear to you everything that John’s gonna be teaching you today.
42:01
That everything I’m gonna be sharing with you today, you’re not going to find it on Google? Why?
42:05
This comes from P two guys, who worked in the industries we’re talking about. We’ve been there, we got that. You know, we got to, we’ve been there, done that. Got the t-shirt.
42:15
So there’s no, there’s none of this stuff. This is for guys who are insiders who know how the **** really works.
42:20
What, I’m about to tell you, what jobs might tell you you. Google, search at all, you want, you can find it once, it’s set up for you, you’ll see, holy ****, oh, I get it, now this works. OK, yeah, I do not want to write a book on this. I don’t know just anybody to know it. Now. Same same. Look, these are legal loopholes that have been in existence for for, for so many, so many decades, hundreds of years.
42:46
And, honestly, I don’t feel like painting a target on my back, to, but, yeah, there’s some things I don’t want to publish, but, uh, definitely, you know, we’d like to talk about the fact that you can do these things.
43:01
You know, and there’s some secrets that go along with it.
43:02
But yeah, I mean, a PMA is a great tool, and, you know, it’s like, If I if I parked a helicopter in your driveway on your birthday, and said happy birthday as a helicopter, you’d be like, Wow, that’s terrific.
43:14
Does it have fuel, where do I buy fuel?
43:16
Does it need a license? Hey, what’s this thing for over here? I don’t know how to fly a helicopter. What good is it for me?
43:22
So, we’re talking about … now, and you can Google it, You’ll find physicians using it.
43:27
There’s, there’s all these little nuances that you have to understand, and hopefully, you know, I give you a little bit of a foundation if you don’t like the whole idea, If you don’t understand it, well, then, go do it. Your accountant says, Do an S corp.
43:37
No, or not. Just make yourself a fictitious name and start a home-school business.
43:42
Somebody asked me the other day, and he was telling me it was difficult for him to come up with the money, to pay for, operating, the startup costs, right? So I said, don’t, don’t do all that stuff.
43:53
Just go make the money.
43:54
Go make your deal. It doesn’t matter if it’s in your name. After three months, you’ll make enough money, then you’ll set up and re-organized everything. So, yeah, a lot of people like them, and a lot, luckily, it’s lot of people wait around all, you know, I gotta, I gotta pay this fee, that fee. I gotta set up this type of banking structure, and I gotta get this kind of license, and I got up.
44:12
Like, for instance, you know, we’re in the middle of launching an exchange, one of the things is, like, we’ve got to go out and get MTL licenses. That means every state.
44:19
I go to John, I gotta put up 100,000 $100,000 dollars in a surety bond And then what the surety bond, I gotta give them asset papers this time, the other and then get them. They’ll shoot me an empty slice as well after the … license.
44:33
You know, my partners and I will guys just knock it off, launch. This thing out there will make the money don’t worry about it. Because all these **** regulators, these bureaucrats are so **** ****** slow by the time they realize what the **** is out there. You’ve already made your profits tenfold.
44:48
So don’t let know things like, you know like.
44:53
Like money or I gotta get this proper setup, quote unquote setup Stop you from getting ahead.
44:59
Know, because it sets you up for failure that Junket Yeah.
45:02
That could be your excuse for not starting something, the same for taxes don’t be concerned about what your taxes might be that I’m I’m telling you, you’re tax people. I don’t care.
45:11
If you’re in California even the tax people are technically the friendliest creditor, you’re going to run into.
45:17
Why are they friendly because it’s easier to deal with them, OK. People don’t realize that the IRS the world’s most friendliest elections, people don’t realize that.
45:28
And they lose 96.7% of the cases they prosecute.
45:33
They lose.
45:35
OK, that’s a fact.
45:37
That’s a fact.
45:39
I’ve got a question. I’m glad, John. I’ll let you finish your statement. Then. We have a question from Jackie and make your money. If you, if you paid more taxes, if you have higher tax bill than you could have had.
45:48
So, what?
45:49
you just learned, how to make the money.
45:52
And maybe you didn’t make a profit. Now, you learn how to make the money, though.
45:55
Go now, make the money. And learn how to make a profit this time, And, sure, your tax bill is going to be out here, and it will follow you, and you can deal with that. But make the money, and learn how to make the money.
46:06
Exactly.
46:07
We’re gonna go right to the questions but really quick. So … Park on the on the Chancellor so we can get a loan for the LLC and the LLC owned by the PMA. Correct.
46:15
And this is why I will.
46:17
We said, it’s like, oh, we’re gonna get into owning LLCs when we get into personal credit versus corporate credit and the changes that are ahead on the horizon and, guys, I’m telling you what’s ahead, you need to stop using personal credit for what’s ahead. If you need to declare a bit, you know, you want to go ahead and get some money and ***** everything right now on your credit, now’s the time to do it, because everybody’s defaulting left and right on debt. Now’s a great time to do it.
46:41
But I’ll get into that later. OK, so Java Tough, Man. Here we go. I’m going to unmute him, John? Go ahead, sir.
46:48
Hi, guys, I have a question from John J: I currently do have a LLC in it.
46:57
But the thing is always I have I’ve already set up a business, um, and so I would have to I don’t know what I have to change.
47:05
All of my accounts that are currently connected to the LLC ticket to do the PMA.
47:11
Oh, OK, No, or DBA. Gotcha. No, no.
47:17
Go ahead, OK. Or do you think it said that it would be better for me to set up another LLC and where I would just take?
47:25
So whatever I’m making? And then transfer the money from the LLC?
47:29
To the other LLC PMA? What do you think? No, no, you don’t have to do that. Just keep everything the same. Except amend your articles, like I just explained you guys. You know. This is so simple that you have to, you know, think wait a minute. Now there’s more. Do I have to do a new LLC? No, you. Don’t you amend the articles? You add the PMA, you call it, whatever you want.
47:48
Add the PM.
47:49
Aid to your articles as a new member, Then remove the previous members, so that the PM as your single Member on the LLC, and keep on doing what you’re doing. Everything is the same.
47:59
The only thing that happens now is the property rights are held in the company, and they’re not yours anymore, You become the trustee for all that asset, in general, liability.
48:11
All right, so, now, so that means that for now on, I won’t have to mmm hmm.
48:20
Tell my Like my bank, I don’t have to mention that I changed with the bank. I don’t have to mention this to my, like Amazon, for example.
48:28
I don’t have to change the name now. Because when you amend the articles that, OK, the articles are the law of the company. This is what I always say, The articles you file and the public records, or the law of the company. So when you, when you publish the articles and you say this is the owner will then that’s the owner. And that’s the, all all the liabilities fall into that. You don’t have to do anything else.
48:49
If they, if they can’t, they’re bound to the articles, if your bank is because it’s public record.
48:56
So whenever you make the change, the bank is going to have to go along with it as binding on everybody. OK.
49:03
Yeah. And I, I just wanted. it also mentioned it’s just coincidental. I’ve been homeschooling my children for the past. Oh, my gosh. 5, 6 years.
49:12
And actually, just about this past week, my wife mentioned that I should be coaching parents on how successful at homeschooling. And because, besides, I also have a teaching degree.
49:23
So my wife said that a week ago, and you just brought this up about homeschooling. Yes.
49:29
I actually, that’s, I think, a really great idea about the homeschooling situation. It’s usually, yeah, let me throw something in there, too, with the curriculum.
49:38
OK, I didn’t mention this before, But, if you, if you’re wondering about a curriculum, like I’m sure you were, I was, when I first are, like, what the heck am I gotta teach my kids, you know that you would think it’s so obvious.
49:49
I would recommend looking at the work of John Gatto.
49:53
OK, check out his work because he’s identified the weaknesses from our public school system and if you start there, you’ll automatically cure the problems we already had with the school System.
50:05
Start with exactly on Gatto.
50:07
GTO Yes and thank You gentlemen. I appreciate your help.
50:14
Sure, and there’s another query. That’s a great question, be.
50:18
Yeah, this guy, man. He’s got this guy here. He’s got A he has an LLC, right?
50:22
He’s asking about the PMA, is it a way around having liability insurance?
50:27
So I’m gonna take quick story. So somebody call me earlier this year, last year was last year and he was a I think he owned a production facility, like a factor, or something. And he said my.
50:37
My partner here said call you because I’m kind of ****** off because my attorney told me I need $3 million of litigation insurance.
50:47
So this is my, my nature is I’m always making fun of things, So I said to him, So who was it again that told you You need to litigation insurance and he started laughing at it because my attorney, I said, well, would you think you would ask you for anything else, Right?
51:01
Like, how can I work for you with no billable hours, you know, No, how can I work for you and create a way for me to get paid for more billable hours, right?
51:11
So I said, well, let’s look at the risk.
51:13
What is the risk, and this is, this is going to your question about liability insurance, so you want to ask yourself, what is it that you’re insuring against? What is the liability? Which is what I asked this guy, He goes, Well, we’re in a business where the customer has a propensity to sue me, the business owner. It just so happens that that’s the kind of business it is. And I said, OK, so here’s what we do.
51:33
Let’s look at that liability.
51:35
First of all, if it’s a customer that’s going to sue you, you, want to have a good relationship with them. That means you want to make sure people are trained and you have a good rapport with the customer. Maybe you have a friendly refund policy. You know, things like that.
51:46
Good stuff, right? Whatever that is, you figure that out as a business owner.
51:50
The next thing is you have a written policy. You have a written customer agreement or a policy that says, here’s the kind of thing we’re gonna do together. You can expect me to come and walk your dog on Saturday. But you can’t expect me to deliver on time, right? So you you narrow the issues that you have with your customer.
52:05
And that way that narrows what claims he could make then in the contract you do two things. one is you make your customer heavy.
52:13
A mutual interest with you with your, with your business, so you literally have what’s called a mutual indemnification clause in the contract.
52:23
And I say it like that, because you guys want to search this on the internet. What the heck is a mutual indemnification clause in the contract?
52:31
What that says is, he’s gonna protect you, and you’re gonna protect him, We’re gonna work together. If we get some crazy thing going on here, we’re on the same side, OK.
52:38
He’s not going to take this guy side and attack you, whatever that is, OK, right.
52:43
The other thing you want to have in the contract in writing is you want to have, in my opinion, I don’t think you want to have a binding arbitration clauses. I think that’s unfair to customers, especially, especially non business customers.
52:54
I think you want to have a nod or a non binding mediation clause. And that just means that the customer can’t sue you until he tries to work out a disagreement with you. And if you can’t work it out with you directly, then he’s required to go to a mediator or both. You are required to go to a mediator, a third party that’s neutral. It does not have to be a professional mediation service.
53:14
It could be Uncle Bob that everybody loves, OK?
53:18
You guys have a mediation.
53:19
You agree on how are you going to work it out. Try to work it out. If you can’t work it out, then you can go to court and work out the difference, whatever else you couldn’t work out, OK, because maybe you can work out part of it.
53:28
What happens is if your customer just sues you first, he’ll be barred from the Court And he’ll be barred from mediation, it’s really powerful.
53:37
So you want to look up on the Internet if you want. You know, non binding mediation clauses, I have them. I write them based on the business.
53:43
So, I’m walking this guy through how to mitigate the risk he told me he had. Did I, at one point, ever mentioned you need to save so much money for in case you have to pay an attorney?
53:55
No, I’m going to show him and the punchline is I haven’t gotten to the punchline yet.
53:59
I’m going to show him how to not even have an attorney. So by this time, he’s getting a little miffed.
54:05
He’s like, He’s like, ****. What am I turning? Tell me any of this and I’m like, oh, well, you know, he’s only carry out. Yeah, he’s only cared about how he could buy a Ferrari out his 50th birthday. You know, He doesn’t care about you.
54:18
So I said, Here’s exactly.
54:22
Yes, exactly. The reason why you want to prevent this lawsuit from your customers because your good name, You don’t want the customer to interfere with your business.
54:29
You don’t want, you know, to interrupt what you’re doing and you have to restructure things, or whatever you don’t want to have a lien on your receivables.
54:36
You don’t want to risk that, right?
54:39
Let’s have a company, a new company.
54:42
We’re going to set up a new company, and we’re going to make your customer service contract the best ever, and that company’s going to provide the best customer service for your customer in the name of your existing company, But the contract is with the new company, and it’s just a piece of paper.
54:57
It doesn’t have all your equipment. It doesn’t have your employees. It doesn’t have your facility.
55:02
It doesn’t have any receivables, your trade name, your brand name, your trade secrets, nothing. It’s just a piece of paper.
55:07
So, if it ever some point ends in a in a lawsuit, your customer is going to be suing a piece of paper that you can dissolve in one minute with a piece of paper and set up a whole new one. So you could if you wanted to ignore the lawsuit.
55:20
Even though you have a multi-billion dollar franchise going on here or whatever you’re doing, or you could deal with the customer and try to work it out still in court, you have a choice.
55:29
He’s not going to extort your business out of you.
55:33
Boy, he was like, whoa. We have a question from, you know. So.
55:39
We have a question from Richard Garcia, Richard Godhead.
55:46
Richard, Richard.
55:49
Richard Garcia?
55:53
I guess not. All right, John. The next thing you want to kind of go for it, man.
55:59
Well, the next question on this, so I’m looking at the chat window here that you know errors and omissions insurance that I think you want to have an insurance policy for that, because, you know, you care for yourself.
56:10
Whatever. I mean, I don’t know what you’re doing for whatever company you want to use.
56:12
If somebody, another partner or supplier or whatever is telling you that to deal with this, you have to have, you know, errors and omissions insurance. Probably it’s a good reason to have one, because you’re not, I don’t know, any other way to mitigate that risk.
56:26
Again, we’d have to go look more about what that specific risk is for, you know, because you could be self insured to, I’m not saying that’s a good idea either, but sometimes you do want to have a third party take on that risk, because it’s not a risk that you should be taking on.
56:43
Right.
56:43
So, yeah, you know, I don’t see a problem with that, but for, like, $3 million of litigation insurance, I think that’s a big problem.
56:50
Just the litigation insurance is a problem.
56:55
The next thing you want to cover, man? Glad.
56:58
Well, you know, uh, that’s an example business. I don’t know what else I can talk about MLS. You guys want me to dial in some detail on some of this stuff.
57:06
I mean, you want to talk about product and the homeschooling you want to talk about.
57:12
Expanding it, how much money could I make doing it?
57:16
How do I connect with people, what, I guess? we can, we can circle, we have Richard … back home, he asked?
57:27
Yeah, ritchey there?
57:32
Richard.
57:36
Overhand Wanted us, OK, Cool. So, John, those are all great things. We can circle back to that.
57:44
What I want to get into real quick, because we have like an hour less than an hour left, and I’m gonna jump into this. For those that don’t know, this broadcast is being recorded. Everybody that’s been on the street life e-mail is going to be getting this.
57:56
These are those who, no, got the positioning in. And, you know, so if you missed it, if you’re worried about it, because of the issues with Zoom, don’t worry, this will be sent to you.
58:06
I just need to edit out the first couple of minutes where you just hear me breathing on the air.
58:10
But apart from that, it’s going to be straightforward for you charge extra for that, I will charge extra for air breathing if any of you are interested in contacting me In order to, air breathing over the phone. Maybe, you know, it’s kind of like white noise, helps you go to sleep, I can do that.
58:26
I’m available for that as well OK.
58:29
so jumping into this, it’s very important. A couple of things that I want you guys to understand before we get back into the into the homeschooling and business formation and all that.
58:39
I want to let you all know about credit and how credit works how it operates when we got to Oregon.
58:44
It doesn’t matter if you’re in Canada the US.
58:47
Australia or the UK does not matter in Australia in the US.
58:51
We have three major credit reporting bureaus Experian equal facts TransUnion in the UK.
59:01
They have three credit reporting bureaus, Experian Equifax TransUnion in Canada.
59:09
They have two credit bureaus effects, TransUnion, and if you’re in Australia, they have Experian Equifax an alien, OK, which was formerly known as a Dun and Bradstreet, OK. That’s That’s handled your credit. No matter who you use, they all use the same metrics. They’re all built off a FICO, OK.
59:29
Now, there’s no, we everybody that’s in the broadcast, if you haven’t heard about it and whatnot you’ve probably heard about, you know, the social credit scores right in China.
59:44
Yeah.
59:45
And I will let you know right now that we’ve been doing a social credit score system in this country for quite some time.
59:53
Probably as early as, actually, even before the Chinese even started, John, We’ve been doing a social credit score now.
1:00:02
Yeah.
1:00:03
John and I were talking, and I was getting him informed on some of the granularity of where we are with some of these data companies.
1:00:10
Folks, I have clients that come to me and say, hey, you know what? I have an 800 credit score. I have low debt to income ratio, and I have pretty decent income.
1:00:18
I was denied this loan that I was that I was looking for.
1:00:23
I was denied a mortgage, I was denied this, I was denied that, and they can’t figure out why.
1:00:29
Folks, there are data companies out that there’s over 50 some odd daina companies out there that get to the granularity of who you are as a person.
1:00:37
They buy this from all, the, the, the, the, the data apps and all these things that are aggregated and sold.
1:00:46
And these are data apps that are pulled from Google and pulled from Yelp and Facebook and Pinterest and Instagram and Twitter and all this other stuff, and it’s amalgamated and packaged and sold off to various data companies.
1:01:01
one of the, some of these companies are, can, can tell you if you’re the type of person that happens to fit the profile of somebody who’s going to default on a loan.
1:01:10
OK some of these companies will tell you that even for an insurance company you’re trying to apply for insurance and you want your premiums or Sudan high.
1:01:16
And while there’s a data company after that that, that reported that you are very likely to skip taking your meds.
1:01:25
These are the, the folks, let me explain them to you. These data companies know you better than you know yourself.
1:01:32
They know exactly how much toilet paper you’re going to be using next Tuesday night, at 9 0 PM after you watch a Frazier, on, um, you know, whatever network you watch it on, right.
1:01:43
They just know these things.
1:01:45
And so the reason why I bring this up is you need to get away from utilizing personal credit and start developing business credit. Now, there’s still a window of opportunity time we’re credit can be fixed. It can be repaired.
1:01:57
It could be wiped, clean thoughts.
1:02:02
If you guys are still utilizing your fit, use, social media, you need to get rid of that quickly, You need to knock it off, you need to get rid of it, you need to get off, I don’t have any social media, John doesn’t have any social media. Nobody in my circle, doesn’t have any social media. We don’t do it, you don’t touch it. It’s radioactive. I don’t care. I used to talk to my grandma in Arkansas.
1:02:20
I don’t care, get off of it.
1:02:23
Call your grandmother, call your mom, send them a telegram. Send them an e-mail, send them a post it, I don’t care.
1:02:29
Get off the social media, stop it.
1:02:32
Get some help, stop, stop, and get some help us all these years to come out, and say, That has to be exactly. There’s no other way around. It just stopped doing it.
1:02:42
Exactly.
1:02:44
So, the thing is, So, we’re going to be offline bring very soon, a self credit repair system, and I’m 90% complete with it. I’m going to be offering to, you know, to to the masses.
1:02:58
Typically, I’ve used this in the past years, it off to effectively wipeout clients, that then I became so **** busy that I’ve always outsourced it to trusted credit companies that would be here today, gone tomorrow.
1:03:10
Hard to find good help.
1:03:12
That’s going to be available. So keep it locked over here.
1:03:15
Now. The reason why I bring about credit is this. I want all of you to stop being afraid of credit. Stop being afraid and terrified of debt.
1:03:23
OK, I’ve told this story many times, This is a story of 2008 Financial collapse. I was driving home one day. I heard of the news report, or some young doctor guy. He lost everything in the market crash. He lost his house.
1:03:37
You know, you lost everything, and, all the way home, he bought himself a pistol one only shot, it’s three daughters.
1:03:45
Shot his wife.
1:03:46
Then he pulled the gun, kind of soft blue zone brains out, because he thought debt was real. Function I’m going to tell you right now, Debt is not real.
1:03:54
You are in a fake, fictitious economy with fake, fictitious debt, everything is manipulated.
1:04:02
Folks, I will tell you this.
1:04:04
I have worked on Cloud client files, personally, when we have cleaned up client files, where, yeah, there were 8820 credit score. We’re able to get them up to 800, OK. Very quickly, very quickly in about 69 days. There’s no pre Cove, and now it’s a little bit longer, depending on the case file.
1:04:22
But the reason why I bring that up is this is what are the key takeaway is this: do not be afraid of credit scores. We can manipulate credit scores.
1:04:30
We can we can clean your credit report, we can put things into your credit report legally, to bolster it up, OK? Well, you put trade lines and then we can put authorized user accounts, and we all have things that bolsters your credit score, So, don’t worry about it.
1:04:48
But the key takeaway here is what I’m trying to tell people, is get away from utilizing personal credit, start getting an LLC. If you don’t have an LLC. Go get one on. people. Say, John, what? do I go to get an LLC? Well, here’s where I like to go. And Johnny could also comment on this as well.
1:05:04
Share my screen here.
1:05:07
Yeah, Wow.
1:05:17
Here’s why am I going to ink file.
1:05:22
I go to a site liking file dot com.
1:05:26
And I’m able to show, I’m able to go ahead and incorporate and get an LLC set up. Now, there are certain jurisdictions that, I, like, personally, I like New Mexico, I, like, Wyoming.
1:05:38
Um, Delaware, I think, is very popular. A lot of people doing, but there’s just way too much reporting involved in it.
1:05:44
John, if you want to chime in right now, talk about some of the Jewish state jurisdictions that you’d like to incorporate into that.
1:05:51
I have my preferred states. I choose them based on the fact that they’re not interfering with your business too much. They just leave you alone, OK?
1:05:57
Yes, we avoid California, we avoid Illinois, Texas, New York.
1:06:02
No, but what else, It doesn’t matter those, those are the biggest one. But the ones I prefer, OK. You can register with the state itself, it’s not hard, it takes like a few minutes to register the articles. All you need to know is a few pieces of information about what you want to do, and that’s it.
1:06:16
The trick is knowing, know, how to have an operating agreement, No one has to be in there, You can go buy one for 10 bucks or something, but you’re kind of on your own.
1:06:25
Then there’s, what I have are, I create them so that the customer has what I call a banking abstract, so that he can do banking and not disclose all the information that’s important about his company.
1:06:36
So, I give him a way to have privacy, and also consulting for the year, but you can just literally go to the state and type out the information.
1:06:44
Fact, we could do it right here on the call. I can just show you, right now, I can go register one in Georgia, and then you have registered a company now when you go to the bank, they’ll want a certified copy of the articles.
1:06:53
At the minimum, they may also want to copy the operating agreement, Like I said, you can go get one of those, but you want a real agreement that you can actually use, that gives you protection, that you understand what’s going on.
1:07:03
So it depends on like, these service groups. Do it for you. Right? They just file stuff. That’s fine.
1:07:07
I mean, you know, if you don’t want to do the legwork, you know, they do it for you, That’s convenient. It’s not hard the state, and that’s not hard on you.
1:07:16
Yeah, directly to the state site and get it all fouled up I’ve done with it.
1:07:21
So, what states, I recommend this for the least involvement of the state in your business and what you’re doing, and they don’t care what you’re doing.
1:07:27
It’s going to be Wyoming, Arizona, New Mexico, Colorado, Florida, Georgia, and then you’ve got Pennsylvania in Ohio.
1:07:38
Now, I like Pennsylvania, New Mexico, because there are no annual fees or reports due.
1:07:46
The annual fee is only like, 50 bucks, or something like that. It’s not a big deal, but Pennsylvania, you can register a company, It’ll always be in good standing.
1:07:53
Ohio, I think, is that way, too? And I think, Arizona, that same way, you can go check, I don’t think Arizona has an annual cost either.
1:07:59
Why do I like that, as well?
1:08:01
Yeah, why New Mexico and Pennsylvania, for sure?
1:08:04
So, those are my favorite state. So if I’m working with somebody in New York, I’ll just tell them to organize in Pennsylvania. And then if you, if you live in, let’s say, California, I’ll tell you to use Colorado New Mexico. And then, when you open your bank account, you can use your California ID to open the account.
1:08:19
But you do it on the internet, because the bank won’t open your account if you’re not in New Mexico.
1:08:27
Right, so that’s the thing to consider.
1:08:29
The other thing is, when you if you’re in California, for example, and you you, if you put a California address on your New Mexico filing, the state of New Mexico will notify the State of California, that person in California’s organizing outside the state, and then the Franchise Tax Board will send you a bill for $800 for not filing in California.
1:08:49
So what I do is make sure that, you know, the client’s address is not included on my filing.
1:08:54
So there are a couple of things you want to be aware of, but those are the basic states and also you’ve got like Idaho, Utah, you know, the states that nobody thinks about that much.
1:09:03
No feds if you all live there.
1:09:06
Those are the states, you can also register in and not have any difficulty with them.
1:09:14
Absolutely, and once you have setup, you want it, like, like what John said, you know, you gotta have a nice LLC set up.
1:09:23
And then you want to, you know, go ahead with banking, now with banking, here’s the tricky thing, folks, when you go back and take notes on this guys, don’t give them every single detail of your business.
1:09:34
Now, one of the businesses that I operate as a brokerage John, you’re gonna get a kick out of this.
1:09:39
When the bank asked me, Well, what do you do?
1:09:42
Software, consulting, computer and software sales Oh, OK.
1:09:47
That’s right. What do you sell different kinds of software.
1:09:51
Then I have no idea. I’m referencing to that I’ve done that, I’m brokering kryptos and Gold and this, that, they have no clue.
1:09:56
I’m just a consulting company, I sell software, right?
1:10:01
Yep.
1:10:02
And I don’t have a personal banker, so now my my, my, my couch, my LLC, now you know, people say, well, gee, you know if if if my company name is XYZ LLC, and if somebody writes a check to my name, how do I deal with that? Well, simple.
1:10:17
I create a DBA Account, John?
1:10:20
Yeah, my DB account is under my name.
1:10:25
And so I go to the bank, because then well, I say, well, here’s my LLC. It’s XYZ LLC. It’s computer consulting company, We do salt, we deal with software sales and website development.
1:10:34
I love using that, because, number one, if it’s over their head, number two: they don’t ask questions.
1:10:43
Are: Going to be, Know. I was one of my, one of my partners in business and that you and I both know him as our buddy. Matt, right? Smack. Never know when you have large backstory.
1:11:01
You are like, be like he has a backstory, my backstory give people as real estate investing in some way. And every, every client I work do one for, I create a variation of real estate investing.
1:11:11
So that way it goes sales right through the bank. They go, oh, yeah, I make it!
1:11:15
I make it like appear as though the account holder, my client is a newbie at real estate investing. So the person is not going to ask anything. He’s going to be bored, like, Oh, really just starting, OK?
1:11:26
Yeah, exactly.
1:11:27
Don’t draw no interests. Don’t tell them what the **** you do for work, right? Don’t tell them what your business is.
1:11:34
Use the most innocuous in descriptive words as possible. You got to think, Like a politician. I went to software sales. I saw software consults. I do marketing web development, you know? Internet sales, Yes. Yeah, right, exactly. You don’t tell them what you’re doing. That’s number one.
1:11:56
Second thing is that. So, when somebody writes a check and they want to, you know, put in your name, what he did well, I went to the bank.
1:12:03
I got a DB account doing business as I followed my state.
1:12:07
The DB is under my name.
1:12:09
And the state would ask me, well, why do you need to have the SDB under your name?
1:12:13
Well, you know, my name is VJ Varghese.
1:12:17
I have my DB as VJ, varghese, my full name.
1:12:21
And I need it because I do leather goods.
1:12:25
It’s a fashion, as I’m watching old fashion brands, leather goods. And if they asked me, Josh, with the bank, or as well, the leather goods.
1:12:33
Or leather chaps for men Yes, leather chaps atlas, chap’s for men.
1:12:44
Great, yeah, yeah, just getting started. You know, I wanna start doing some, it’s a passion of mine, I wanted my own fashion, But that’s why, I gotta have this DB under my name. OK, sir. Now I have an LLC set up with my name on it.
1:12:56
So somebody cuts a check with your name on it, Well, with my name on it, I get deposited, write a company account with no company, with no liability, All the liabilities got.
1:13:08
And then I’m a banking setup.
1:13:10
It’s not just me. I’m the primary owner of the LLC, but I have also other members on the bank.
1:13:17
So, it’s, I have Mrs.
1:13:20
Gorilla, right?
1:13:22
I have my dead uncle.
1:13:24
I have, You know, I have the homeless guy off the street, I gave him about 1%.
1:13:31
Do utilize is, I don’t pay whatever, right?
1:13:34
Yes, people you can trust, All right, that don’t have any real control on that, what does that do?
1:13:39
Number one it strengthens your position number two and mitigate your risk. Number three?
1:13:45
Yes.
1:13:47
Yeah.
1:13:47
So, yeah, I’m a computer and software development company that sells leather chaps for men on the side.
1:13:57
You gotta be cutting God. You could even go find a Shopify website that is doing that.
1:14:03
While you’re talking to you guys to check out my partner site and then add to the story, and it completely does not answer the question. Why do you need to DB in your name?
1:14:12
Yep. You still answer the question.
1:14:15
Exactly, right, exactly. Right. So that’s how you set up, but I will see anybody have any questions.
1:14:22
How do you get around that time when you’re dressed of your business in the state? You’re all, Good question. Good question.
1:14:29
Folks there, there’s different companies you can utilize for this when I set up one of my LLCs in Wyoming or New Mexico, right.
1:14:38
And I wanted to do.
1:14:41
My, my primary LLC is a New Mexico LLC and I want to do a, uh, an address. Oh, you’re gonna love this. You guys are gonna love this.
1:14:51
You ready? They don’t teach you this in Google.
1:14:54
Trade Secret, I’m gonna tell us, Hey, I’m telling you a trade secret, that sort of thousands of dollars, you know how to set it up, right? Yeah, OK.
1:15:01
So this is what you do, guys.
1:15:04
When you’re setting it up with ink file or you filing with the state or whatnot, you want to have your own This is addressed in that state. Maybe that you’re fine. Let’s say New Mexico.
1:15:14
Well, I go to a company like Inkwell, I go to a company, like let’s say Opus Office. Let me, let me see if I can pull them up. Right?
1:15:22
You guys are gonna love this. ****.
1:15:27
We’re doing it live. We do a live chat, that’s how we do it, right? Yeah.
1:15:30
Or Opus or region. I think regions is another once. It has office babies are doing it.
1:15:36
I’ll pull it off.
1:15:39
I’ll pull up DaVinci real quick. Office. Da Vinci would like to share screen?
1:15:45
I do a little bit different that V But go ahead. I know what you’re going to say.
1:15:49
I’m malema creative, so you find one of these virtual office guys, right?
1:15:54
Then you, let’s just say New Mexico.
1:15:59
Oh, example, we’ll see.
1:16:03
Oh, yeah, I like and folks like that address. Now, use that to file, you pay the DaVinci, 70 bucks OK, Well, the one-time Steffi right, You pay them, you know, 200 bucks to set up $7 a month, Right.
1:16:19
So you pay the setup fee and you pay for one month and you cancel it afterwards, right?
1:16:24
But what they will do is they will go ahead and set up a a full on mail forwarding for use if you get mail, LLC, the Florida directly to your house.
1:16:33
They’ll even have a, an assistant that will pick up the phone call. Thank you for calling XYZ clerk. Can I help you? I’m looking for mister Sacha.
1:16:43
Mister Chau it says currently engaged in a meeting Can I take a message please? Oh yeah and they’ll forward that message to you.
1:16:51
That’s how you do it.
1:16:52
You have your mailing, you have your, your physical address, and it’s an and it’s in a building, folks.
1:16:58
It’s not a stupid mail box or UPS box, which you do not want to do, because when you have this setup, and let’s just say you run this for 5, 6, 7, 8 months, you’re creating a business entity, you’re creating a full on business entity. Alright? So, that’s that’s, how do you know how you do it? How do you get around that telling you the address of your business in the state? You’re doing business. Finally, here’s what I do. So, I’ll take an address like that, and I’ll just use it without opening an account.
1:17:30
Yeah, yeah. Because, I don’t care what mail goes there, and chances are, it’s going to be a bunch of junk mail. I don’t want. And so, they’ll deal with it, which they probably already have junk mail there.
1:17:39
So, it’s of no consequence or oligo use a business address that I could just find.
1:17:46
I just searched on the internet for like an office plays or complex, or I’ll even use an apartment building.
1:17:51
But not the apartment number, just main address for the office.
1:17:56
Which is a residential location, and that works for pretty much anything. You need a residential address, for, just keep in mind. You’re never going to get mail there.
1:18:05
Now, if you want it, now, let’s just say you have your LLC built up, and you want to go to the genre. Well, you just want to pick a random address and use that.
1:18:13
And, look, I have guys who Home hemet collectors are calling me what. They want to know where I live.
1:18:19
Well, Pull up Zillow. Pick a state. You live in and pick up an address for a house that’s on so they? Don’t feel free to call. It did nothing. There are a bunch of idiots Redisplay that includes, lawyers, offices, nothing but idiots read scripts. Don’t worry about, did you give him if you give them a state where you don’t live in that state.
1:18:42
If they, if they send an attorney there, he’ll be at a dead end because he can’t even start process if he’s going to you, that’s exactly right.
1:18:50
Exactly right. I mean, that’s the thing now. Let’s see.
1:18:53
So that’s one route, the other route is let’s say you want to you want to get an office like this you want to build you want to stop using personal credit, you want to start using business credit?
1:19:03
While you get a service like this, you’re paying them for six months, right?
1:19:06
So now you have a physical office space, right?
1:19:09
And now, there are services out there, you know, wanted someone with something that I’m connected with where, let’s just say you created your LLC, you know, tomorrow, or today, right? And do you want to build it up well?
1:19:23
We have services in place that can put your company and put trade lines into your company, and we can put credit lines into your company, where, legally, when somebody pulls up your LLC, like, oh, yeah, This LLC was created about, no, 3, four months ago, five months ago. I don’t think it’s about six months to really build it out mm, OK, But think of the beauty will take about 4 to 6 months to really build it out.
1:19:45
But in 4 to 6 months, we can take a shell company that it was literally create out of nowhere and make it look like to bankers, OK, to banks.
1:19:55
We can make it look like that, Hey, this company’s been around for awhile, Look at the trade lines they have, look at their Dun and Bradstreet score because they’re paid X scores, Wow and so now you’re gonna go apply for a business loan, right, 200, 300, 400, $500,000, whatever it is, OK, now it’s through your business, LLC, You have your DBA on there you can have your PMA on the side as well, OK?
1:20:23
Now check this out and let’s just say you pay on the yacht these loans, what’s your business and you’re like, You know what?
1:20:32
Yeah.
1:20:32
I’m done with these idiots I’m tired of you know paying these guys a monthly payments through them because look, there’s millions of lenders news lenders you decided to go ahead an 86 it OK, 86 those business loans.
1:20:45
Who cares, what are you gonna do? Write letters, alright, you love letters every day.
1:20:48
Every week every month and make phone calls to you That’s about it. They’re going to come after you for what? You just said, I’ve probably got to worry about it, right?
1:20:57
So you 86 it then all of a sudden, you’re probably worried about, Well, what’s it going to do your business credit?
1:21:03
Folks?
1:21:04
Business credit is not affected.
1:21:07
So if a company, a corporate corporation, or an LLC or a company defaults on business loans, it does not affect its Dun and Bradstreet or paid X force wash rents, repeat.
1:21:22
It’s not like personal credit.
1:21:25
Personal credit is a different thing. You can fix personal credit.
1:21:28
But that window of fixing it I think in the next five years it’s going to be a different ball of wax entirely but you want to start migrating now.
1:21:39
So, in the next 4 to 5 years, you’re better positioned, OK?
1:21:43
That’s how you set up your proper business. So once you’re operating a business, your business is built up, you have the trade lines in place. You have all these things in place. You want to go lease a car. You do it under your business. You don’t go buy a car. You put it onto your business. Right? You can put a lien. Then you can create a …, you can put it like what John said or whatnot, and put a lien against those assets are properties that your business zones.
1:22:04
Now, you’re now you’re bulletproof.
1:22:06
Now you’re bulletproof. Any questions?
1:22:10
Oh, wait. How did you meet yourself?
1:22:14
Hold on.
1:22:16
Don’t worry what the heck?
1:22:22
Thanks. I didn’t want to cough in the mic, OK? So I didn’t know, OK, But on the on the Credit, What you do first? You don’t go to Dun and bradstreet you. You register, you list your business. So therefore, it has to have a business location. So, these office spaces will work bare minimum. There’s ways to do it for free to bandwidth. So, you you get a business location. You list your business at that location in the business listing directory.
1:22:49
Once you do that, then you start building what are called Net 30 accounts. So, I do it backwards, and most people, I do it this week, because what happens is Dun and Bradstreet will then contact my client, and then I’ll know that I have everything correctly because if I didn’t do correctly, they wouldn’t even know about them existing.
1:23:04
So, they’ll contact them by that time.
1:23:06
We’re already in the second month of the Net 30 accounts, and then … will assign an account and try to solicit for, like, credit services, which some are good. But usually, we don’t need them.
1:23:16
Then within 3 to 4 or 5 months where we have a score now paid X score and we can start using it, and then this Net 30 accounts will be rolled up. And like you said, you can add trade lines or not. If you trade trade lines, it’s much faster to build up your credit.
1:23:29
And I did the opposite way. I showed it to a gentlemen one of our members. He went and bought.
1:23:34
No, I didn’t tell them to do this.
1:23:36
I showed them how to buy a $2000 a month business for like $5000. He went and bought at $200,000 business netting him, $13,000 a month.
1:23:46
And he used his personal credit to buy it. The broker connected him with a commercial Lender, a commercial lender, but he had to sign, because he had no history. He had never done this before, he was like 28 years old.
1:23:59
So he bought this $200,000 business netting of 13,000 a month, and the Commercial Lender came back like it right about now write about it might be this month or next month, they’re gonna, they wanted to refinance him under his business name with no personal guarantee they wanted him to get out of the personal credit.
1:24:18
That’s how these work, when you set this up properly, they want you as a customer, as a business, And I asked him.
1:24:24
So he borrowed 40% of that 200,000 from the seller, and the other, 60 from the loan from the bank.
1:24:30
And the bank has offering him soliciting him to do a new loan.
1:24:34
And they said they’re gonna loney him out to two rifai.
1:24:40
So he’s not the personal guarantor, at a half, a million dollars, like, now, Yeah. They’re doing it now because they know it’s an Asset he bought.
1:24:51
They don’t know how this works. Yeah. That’s absolutely correct.
1:24:54
And plus, the financial note can be financial eyes on the backend, on the loan. You can.
1:25:01
look, folks, The way credit works Is this, OK.
1:25:05
Visa, mastercard, and Bank of America, JP morgan Chase, do not literally lend you money.
1:25:12
So how it works, if you’re thinking that, oh, my God, you know, Visa, mastercard, American Express, JP Morgan Bank of America, Wells Fargo, somebody in the billing department actually let me money now.
1:25:22
I owe them, how works.
1:25:25
They created the money out of thin air based on your credit. Why? Because your credit, your Social Security card, the unit that you’ve been issued at birth, or when you became a naturalized citizen, the United States or any one of the Commonwealth countries, they have their own little variation in Australia, and you can whatnot, that has a monetary value to it.
1:25:42
So when I’m lender or creditors is giving you money, they’re not giving. What they’re doing is they’re going to their central bank, and they’re borrowing against that central banks. I’ll, what’s called the US.
1:25:54
Called the Fed Window, right, they borrow against.
1:25:57
Then it’s landed. It’s lend out to you.
1:26:00
And you’re thinking, wow, American Express is so nice. They just gave me a $30,000 line of credit. That is so nice. And then, all of a sudden, **** happens in your life, your default, you get a divorce or whatever. And you lose all your money. And now, American Express is after you and you can’t pay them for the $30,000.
1:26:16
And then finally, a creditor calls you and says, Hey, Bob, here’s the deal US, 30 grand.
1:26:22
But we’ll settle for a thousand bucks. You’re like, Man, who doesn’t the nicest people in the world?
1:26:26
You give me a 99% discount, but little did you know whether you pay the debt and whether you pay the one thousand dollars or whatever the settlement is on that debt or you didn’t pay it at all. It is the same.
1:26:37
Detrimental impacting a credit score makes no **** difference. So why That’s right. Rule number one of money. Never throw good money, on bad.
1:26:47
Never pay, when you’re in default, that is throwing good money after bad.
1:26:52
When you’re default, leave it like it is, they go forward, then.
1:26:57
Exactly.
1:26:58
Unless it’s your Uncle Bob or something like that or your grandma, then definitely pay them back, but these banks can take it, they’re not, they’re not risking anything.
1:27:05
Yeah, they’re not.
1:27:07
They’re not. And it’s your money, It’s their lending it to you, because you have a certain monetary value to it. They move that debt from the public side to the private side.
1:27:15
They lend it out to you, and you’re thinking that you’re getting this great deal, then they sell to collection agencies for pennies on the dollar, and you don’t realize that the collections agencies, or, if you’ve given to them, they’re making a pure profit on you.
1:27:26
That’s the way the game works, and your credit score is still checked, So what is the point?
1:27:31
What is the point?
1:27:33
Well, There’s a way You can get up underneath it, and you don’t need to fear it Don’t even worry about it.
1:27:38
You know, So that’s that’s how you do a proper business setup OK? and and again for further webinars.
1:27:45
We’re gonna get into Dun and Bradstreet setups we’re gonna get into Proper business setups how you can get business funding business loans and all these other things we will have that on future webinars and on how to do that?
1:27:57
Um, John This will be your thing Liabilities?
1:28:00
How to prevent yourself from being sued or creditors or somebody coming after you decide on the other and then we’ll do another Q&A. Glad. Yeah. Well, generally, you identify what that risk is. If you think you’re going to be sued by whom would it be?
1:28:15
And then find out what relationship you have that would cause that to happen.
1:28:19
Now, being sued is not a problem.
1:28:20
It’s just that if you have things at risk from the suit, if you, if you were to lose, that’s one problem.
1:28:26
The other problem is, if you have something to defend against that you need to get involved in the litigation. And that usually has a cost with it.
1:28:34
That could be another risk. The litigation itself is a risk.
1:28:37
So identify what that risk is, specifically.
1:28:40
And there are a lot of ways to, to, you know, bring it down to nothing, but I mean, you’re not gonna avoid being sued, but you can’t avoid the consequences of losing a lawsuit.
1:28:50
I think there’s a way to look at it.
1:28:52
Absolutely, Right.
1:28:53
Anybody? Any questions on anything that we’ve said so far?
1:29:00
Can you talk more about business credit? I’ve been in business for 13 years. How do I even check?
1:29:04
Tell yourself about Dun and Bradstreet.
1:29:06
Yes. You’re listed at Dun and Bradstreet.
1:29:09
Have you ever did you pull your file? You know? You have to be registered with Tom Daschle, if you haven’t done that already. Go register yourself.
1:29:16
Yeah, get an account, if you don’t have an account. But, I always like to let them come into me first and assign a number, and then that means I have an account that they set up without even my knowledge.
1:29:24
Fine, In that case.
1:29:26
I want that, and then I know I did it right, and then I build my net 30.
1:29:30
So really, when someone comes to me and says, I want to do a business credit file, I make sure that they can.
1:29:35
They can buy products from net 30 suppliers for a real purpose.
1:29:39
And not just a set of business credit, because you can do a fake set up. But then it’s going to collapse because it has to support itself, or it’s going to collapse. Or it’s going to cost you a lot of money to keep it going. What I mean by that is it might cost you at least a few hundred dollars a month just to keep it looking like a decent business.
1:29:57
So you want to have it like a real purpose for it.
1:30:01
Absolutely.
1:30:05
Question from Moto G seven, What did she said that’s a good phone. That’s actually a very good phone. You can really lock it down.
1:30:11
Moto G seven said, V you alluded to the on the video, to accessing our public credit, to settle private debt.
1:30:18
Using the Bond Fed number on the back of the SSN, are you going around do this? That’s real dicey, man. That’s real dicey. I know a few guys that have tried.
1:30:26
one of them is setting a city in jail.
1:30:29
one other guy fled to Argentina. And the one of the other guy died in mysterious circumstances that certain things you don’t want to cross. Yeah. It’s risky. They don’t want us to do what they can do. So exactly. Look, just learn how to acquire assets. You don’t need to play their game. Just not acquire assets.
1:30:47
No, Use the loopholes to evade and to hide acquire assets.
1:30:54
Don’t try to play this game.
1:30:55
This game, we’ll get you killed.
1:30:57
Believe me, I’ve gotten that call, in the middle of the night, OK, You don’t want that call, trust me. Yeah, no, I agree, That’s, that’s risky stuff, It’s not necessary. It’s not necessarily learn what you should be learning.
1:31:11
Learn what you should’ve known already, when you first got the ability to use a bank account, you should have begun learning how to manage risk, because money is risky and it’s a tool, you know, you have to keep it in shape, you have to, you know, not just protect it, but you have to use it properly.
1:31:26
Let me give you one example that I’ve gotta run to another call, that’s OK, B Because we could do this is gonna be great.
1:31:32
We’re going to theory, real quick, here’s an example of a person who has $10 million. Where do you get it from? I don’t care. He gets $10 million, and he says, I’m going to be an investor. Now, I’m going to buy a hotel. So he buys a hotel.
1:31:43
So, now, he owns the hotel, and it’s paying them.
1:31:45
great, and let’s say, it works out great, everything works out great, smooth, He’s making the money, and so I’m going to come to him and say, OK, so now you own a hotel, but you’re in two businesses.
1:31:54
You own a hotel, which is an asset, and you also are your own lender.
1:32:01
Well, he’ll say, But I don’t have any loans on its debt free.
1:32:05
Well, OK, let’s say it’s debt free, but not really, because what you’ve done is tied up $10 million of cash into an asset, and yeah, it’s looking great on paper, but you’re missing opportunities, and you’re taking on too much risk. Why?
1:32:16
Because you could have a lender step in here for a portion of that $10 million, and free up some of your capital to do something else. You’re missing out on that.
1:32:24
Moreover, you’re not an underwriter for the banks.
1:32:27
You didn’t get the benefit of someone who’s an underwriter to send some of your equity into an underwriting process and have a third party take on some of that underwriting risk for you because what that’s what you should be doing to manage risk properly. So, debt is a way to manage risk properly.
1:32:47
So, if you have, just because you can pay cash for an asset doesn’t mean you should, and you really should not pay cash for an asset, Or if you do, get your financing in place quickly, as quickly as possible.
1:32:57
Have someone else be paid to take on that risk. It’s worth the interest rate to do that.
1:33:03
That will be the last thing I’ll leave you all with.
1:33:05
We can talk about that more.
1:33:08
You always use OPM other people’s money. Yeah, absolutely correct.
1:33:12
After your, take on that risk, you as a business owner, may not be you should not be.
1:33:17
Even if you are due, do the thing you’re doing, don’t do two things.
1:33:22
Have someone else, you know, parcel out the thing that they’re the expert at that. You’d be the expert at this.
1:33:27
Absolutely. And guys, if you don’t have any other question on John’s got a heart heartbreak coming up. Feel free to field questions the questions.
1:33:38
If you have further questions, you can e-mail at strapped life.
1:33:42
I’m sorry, e-mail info at strat, life.
1:33:49
Oh, alright and I can further assist you guys over there info at …
1:33:54
dot co and John John’s John.
1:33:57
What’s your e-mail singleton?
1:34:00
Yes at proton mail dot com?
1:34:04
Yeah.
1:34:09
Yeah, there’s some good questions here. We’ll continue doing this and Everybody, this register for this, OK, you don’t have to re register for the next webinar. You’re good, You’re paid in full. You’re good, OK, so the next one just come and listen to the next one, OK, So you gotta worry about paying for the next one as well.
1:34:27
So that so you’re going to get into of these webinars OK, is total, so you’re gonna be able to webinars?
1:34:34
Yes, I’m glad you guys learned so much. There’s a lot here. There’s a lot of information. This is recorded. So, everybody who’s registered is going to be getting a copy of this recording, and it’s going to go out and via e-mail.
1:34:46
Yes, go out and go Shopping for some assets case. It could be at the same meeting number, exact. Exactly, and I’ll announce the next webinar will probably be next week.
1:34:58
All right, thank you, guys for joining for the Kickoff, and I’ll close, I’m glad John …. Thanks, guys, appreciate it.
1:35:06
Cheers.
1:35:08
All right, guys. So, thank you all for joining. That’s my buddy, John.
1:35:13
We’ll be covering a lot more things in depth.
1:35:16
And, yeah, if anybody has any questions, I see, …, Glad, tonga. What’s your question?
1:35:26
Yeah.
1:35:28
Yeah, Dun and Bradstreet, I think I’d just put a DNB dot com portal HTML. You could search.
1:35:34
If you have any questions you can call Dun and Bradstreet directly as well, too.
1:35:41
There are numbers right here, 800.
1:35:44
I think it’s 526-9018, I believe that’s the Dun and Bradstreet number to call them, talk to them, and get your company registered.
1:35:55
Again, guys. Here’s the thing. Don’t worry so much about Dun and Bradstreet.
1:35:59
There’s business services that I will be introducing to these webinars, that you guys will have access to that will go ahead and that will build out these companies for you, number one. Or if you already have a company, they’ll register you in and get you going for a tiny fee. It’ll save you a lot of time.
1:36:15
Trust me, the fee is worth, the time that you’ll save to get yourself set up properly, so don’t even worry about that. So, I want to thank all you guys for joining.
1:36:22
The next seminar will be there, um, you know, where we’re going to dive deep.
1:36:28
So, again, other people’s money, utilize lenders. Why?
1:36:33
Because you want a debt based system, stop using personal credit, is that, you know, eventually, if you want to wean off of it, if you have crappy credit, you’re worried about being sued. Don’t worry about it. Do not freak out, it’s all smoke and mirrors. It’s not real.
1:36:46
The only thing that’s real is the fear, OK? That’s why they try to scare you.
1:36:51
So don’t be scared, OK? It’s nothing, it’s a joke.
1:36:55
All right.
1:36:56
So stop worried about debt. Stop worried about that nonsense.
1:36:59
Be obsessed with accumulating assets. Be obsessed with assets. Be obsessed with creating your business. Be obsessed with income streams. That’s what you need to do.
1:37:12
Um, so we have another trust and I’ll see where we go next.
1:37:17
Proper setup, if you already have a trust, an LLC set up, let’s, you know, let’s, you know, connect with you kind of what, Jonathan or myself.
1:37:24
And, let’s go ahead and let’s get some assets for you, start generating some income.
1:37:27
So, if you already have a trust and LLC set up, also let John review it if you have a trust now. So you set up, let John review it, and we’ll take it from there.
1:37:35
So, with that being said, guys, next webinar, I’ll be posting it and can I get a solid e-mail?
1:37:43
Yeah. You can e-mail me at.
1:37:48
Gorilla, if you have an e-mail directly for me.
1:37:55
Gmail dot com There you go.
1:37:57
That’s my direct e-mail for longer.
1:38:02
That’s about, I guess, so I think we covered the brunt of it. We’re gonna get more into the details in the next seminar, but I wanted to cover the basics of it. So you guys know what you’re getting into and again, this is ****.
1:38:10
You’re not going to lie on Google, I’m gonna go in and do an internet search for why?
1:38:13
Because schlep rocks but I’ll actually work out there, I have no idea, they don’t know the backend of the systems like we do and how to connect it all.
1:38:21
And when you start, when people ask, How did I wind up like this? How did you learn all this while it’s simple?
1:38:28
I had an opportunity to work in all these different systems and they’re all fragmented and they’re all compartmentalized.
1:38:35
But when you put it all together, you have an idea of how the whole entire system works.
1:38:42
And so you get an idea of it.
1:38:43
And you’ll you’ll know from front to back, someone’s asking, is there a PDF from John, I will get that for you guys to get. I think he forgot to upload it.
1:38:51
So I’ll get it.
1:38:53
And so with that being said guys, don’t worry have no fears. Dennis’ fake, it’s bullshit. It’s complete nonsense.
1:39:00
Let’s be obsessed with success, be obsessed with making money, be obsessed with creating assets, be obsessed with generating income.
1:39:08
With that being said, I’m over and I’m out, thank you all for joining, be locked on and keep it locked especially to the strat life, e-mail in … life.
1:39:19
You guys are gonna be getting from the staff of their, another invite for the next webinar, so keep posted. If you haven’t e-mails, life, go ahead and e-mail throughout life and voltage. All right?
1:39:29
That being said we’re over now. Thank you all for listening and cherish.