{"id":27215,"date":"2023-11-19T08:01:16","date_gmt":"2023-11-19T13:01:16","guid":{"rendered":"http:\/\/privacyfight.io\/?p=27215"},"modified":"2023-11-19T08:01:32","modified_gmt":"2023-11-19T13:01:32","slug":"u113-discussion-with-a-young-investor","status":"publish","type":"post","link":"https:\/\/privacyfight.io\/u113-discussion-with-a-young-investor\/","title":{"rendered":"U113 &#8211; Discussion with a Young Investor"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"27215\" class=\"elementor elementor-27215\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2d2ddbe elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2d2ddbe\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3ab6367\" data-id=\"3ab6367\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0178106 elementor-widget elementor-widget-shortcode\" data-id=\"0178106\" data-element_type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-shortcode\"><div class=\"vidseo_wrapper\" style=\"width: 100%;\">\r\n\r\n    \r\n    \r\n        <div class=\"vidseo_vimeo\">\r\n\r\n            <iframe title=\"vimeo-player\" src=\"https:\/\/player.vimeo.com\/video\/884993091\/?\" width=\"100%\" frameborder=\"0\" allowfullscreen><\/iframe>\r\n\r\n        <\/div>\r\n\r\n    \r\n    \r\n    <div class=\"vidseo_collapse\" style=\"\">\r\n        <div class=\"vidseo_btn\" style=\"\">\r\n            0:00\r\nWhat do you guys want to start with the what you have any questions? What, what do you want to do? The best way to make passive income? I was about to get into affiliate marketing, But I just wanted to know your thoughts about it if it was worth doing.\r\n0:14\r\nAbsolutely.\r\n0:15\r\nAffiliate marke...        <\/div>\r\n        <div class=\"vidseo_collapse_content\" style=\"\">\r\n            <p>0:00<br \/>\nWhat do you guys want to start with the what you have any questions? What, what do you want to do? The best way to make passive income? I was about to get into affiliate marketing, But I just wanted to know your thoughts about it if it was worth doing.<br \/>\n0:14<br \/>\nAbsolutely.<br \/>\n0:15<br \/>\nAffiliate marketing is sales, and it's perfect for training You should definitely be an affiliate and Hop around until you find one you like and just do really well with it.<br \/>\n0:24<br \/>\nAnd the affiliates that really make a lot of money are those that have what's called a down line, they, they spend a lot of their time Collecting people, let's call it that. Follow them. They might have a compelling newsletter that they give out every month, or every two weeks, about a financial matter, OK?<br \/>\n0:38<br \/>\nAnd they have a follower of like 20,000 people, they got, on a newsletter, for example.<br \/>\n0:43<br \/>\nSo those type of people will want to be an affiliate of a product that they can endorse.<br \/>\n0:48<br \/>\nThey can put their good name on, and they can sell it, and it sells real fast and make a bunch of money upfront. Then they move on to something else. That's one example. A service that does, the that does this is very famous It's called click bank. Have you seen this?<br \/>\n1:04<br \/>\nSo Clickbank, we heard you talk I Heard you mention so Clickbank as far as affiliates go. I Would I would start looking at Clickbank. Now. There are some others.<br \/>\n1:13<br \/>\nThere's some really good platforms clickbank's a payment platform, but it's for affiliates and let's say for example, I have a book and I want to publish it, or I want the audio files in the book, and I want to publish it I Would go to Clickbank and I would I would advertize on Clickbank.<br \/>\n1:30<br \/>\nI would say any of you affiliates out there would like to sell my book I'm gonna give you this much commission off the selling price Then somebody would come in there with typically These guys will have a group of people? I'm saying like sometimes They have like a million people 2, 3, 4 or 5 million people And They'll make a deal with you right? now They'll sell your book and They'll keep whatever the commissioners, and then you get to everything settles out through Clickbank.<br \/>\n1:52<br \/>\nSo, absolutely, you will learn how to sell, and that is what makes the most money, not how much money you make per hour.<br \/>\n1:59<br \/>\nIt's when you would, when you own or control the sales function. So, sales makes the most money.<br \/>\n2:05<br \/>\nRemember this, sayles makes the most money.<br \/>\n2:12<br \/>\nOwn the sales ranks.<br \/>\n2:14<br \/>\nYes, you are recorded down, OK? It's always, it's, it's just an ugly, plain statement. Sales makes the most money, not lawyers.<br \/>\n2:23<br \/>\nTrojan $300 an hour.<br \/>\n2:25<br \/>\nThere are a bunch of chunks, OK, I make about 2000 or $2200 an hour and I do that by selling information in a way that I do it effectively. I don't build people by the hour.<br \/>\n2:38<br \/>\nThat's just stupid attorneys.<br \/>\n2:40<br \/>\nSo I make way more money than they do, but I actually serve people, Right, but I own the sales function.<br \/>\n2:47<br \/>\nSame with other.<br \/>\n2:48<br \/>\nNo, this is where you're going to, you're going to do well, you learn about affiliate.<br \/>\n2:52<br \/>\nSo there's this aspect of being an affiliate where you want to sell a product. So here's an example.<br \/>\n2:57<br \/>\nSo I have my son set up, He's 29. He was 19. I happened to set up an LLC bank account. You don't need one right now, by the way.<br \/>\n3:04<br \/>\nYou can, By the way, don't file tax returns.<br \/>\n3:09<br \/>\nDon't ever file tax returns.<br \/>\n3:11<br \/>\nWe can talk about it, OK?<br \/>\n3:13<br \/>\nYeah.<br \/>\n3:13<br \/>\nShe asks Richards asked questions that you're already answering and she had good, OK. All right, so moving on.<br \/>\n3:22<br \/>\nSo I set up my I set him up with a corporate account.<br \/>\n3:26<br \/>\nAnd I set him up without shopping for a service, a bank. I went to Chase Bank. They charge a $15 a month, but the ******** $15 a month.<br \/>\n3:36<br \/>\nJust do nothing for him. So he has a bank account. It's a corporate account. He's the signer. He's the owner of the company, $15 a month. And I gave him 100 bucks to open the account.<br \/>\n3:46<br \/>\nHe has a few hundred dollars, every once in a while, because I pay him to do stuff, and he does jobs and whatever.<br \/>\n3:50<br \/>\nSo, last year or earlier, this year, he comes home, he says, Hey, Dad, PayPal, suspended my account because there are no sales, and my, I need to pay my bank account, so I can keep the account open, because I'm going to close it.<br \/>\n4:04<br \/>\nIf I don't pay the fee, I knew that day was coming, What do I do?<br \/>\n4:10<br \/>\nI said, Well, go make some money. You got the tools.<br \/>\n4:14<br \/>\nKnow, more than I do about the website, all this. He goes, Well, how do I make some money?<br \/>\n4:17<br \/>\nI told them, Well, if you can imagine, sell something that's somebody else made or selling, You don't have to sell. It doesn't have to be yours.<br \/>\n4:29<br \/>\nSell somebody else's stuff, be an affiliate, he understood what that meant. So he went, figured it out. He went and sign up as an affiliate hooked up his papers to get your PayPal link.<br \/>\n4:40<br \/>\nYou have it. You have a pay link with PayPal. You can use that in affiliate programs. That's how you get money.<br \/>\n4:47<br \/>\nUse your PayPal link to sign up for affiliate program. So that's what my son did. And then he found a product that was, somebody else was selling, and I don't even know where he was selling, and he made 30 bucks.<br \/>\n4:59<br \/>\nAnd I said to him, OK, so, do you think that it would take more effort?<br \/>\n5:04<br \/>\nTo make $300 or $3000, then you spent to make $30, and he thought about it for a second. He's like, No, I don't think so.<br \/>\n5:13<br \/>\nSayles makes the most money, That's good, yes.<br \/>\n5:18<br \/>\nYeah, there's, there's ways that. Yeah.<br \/>\n5:23<br \/>\nPeople are becoming affiliate marketing.<br \/>\n5:26<br \/>\nWell, it marketers on Amazon, like through Amazon, and they would open up Pinterest account and then put everything on there.<br \/>\n5:34<br \/>\nDo it.<br \/>\n5:35<br \/>\nBut, in order to do that after, start posting videos on a few different forms, and that they accept them, well, pick one, worked through it, get it set up and running.<br \/>\n5:46<br \/>\nSome of them, you may not like, but go through and do it. Go to the labor, the hard work. This is the time in your life, if you want to do this. This is the time in the life where you work hard?<br \/>\n5:55<br \/>\n620 hours a day, and that doesn't mean you're like sweating all the time, I'm just saying you're thinking about stuff. You're planning your putting effort out. Sometimes I still do that. I love it. I get up in the middle of the night and I'm working, man, I, I get my notepad out. I don't like to disturb my wife's. I go and get my notepad and IT stuff but you want to do that now.<br \/>\n6:15<br \/>\nBecause it's a lot of fun. You want to be exhausted. You should be exhausted at the end of the day. So, trying to affiliate program, learn all about it.<br \/>\n6:23<br \/>\nHave an open mind, empty cup, you don't know anything.<br \/>\n6:26<br \/>\nAnd I like to think as I get older I like to try to struggle to think that I don't know anything or Just mean because when you do when you when you genuinely think you don't know anything You get to learn stuff.<br \/>\n6:37<br \/>\nSo just be open to it at your age especially Yeah, pick one try it, do it go through it.<br \/>\n6:44<br \/>\nYou might run into you might run into one of them that Exploits you, it's like Amazon.<br \/>\n6:49<br \/>\nI think I think you're not gonna like Amazon, But go ahead and do it It sounds interesting. Who am I to say right? Try it out, check out Clickbank, and check out other services like Clickbank, their affiliate programs, you can call them. If you search on the internet, you can call their affiliate platforms.<br \/>\n7:06<br \/>\nAffiliate sales platforms, if you want to search on that.<br \/>\n7:10<br \/>\nGillian?<br \/>\n7:14<br \/>\none other question there.<br \/>\n7:16<br \/>\nBut realize that what you're doing, oh, so what you are, you want to, you want to provide someone something of value. You're always going to do that.<br \/>\n7:23<br \/>\nAs long as you're always going to do that as your first number-one thing, give something of value because I can make a bunch of money doing nothingness.<br \/>\n7:31<br \/>\nThat night, I got partners that they'll have three monitors on their desk and they place penny stocks all day.<br \/>\n7:38<br \/>\nAnd some of them make pretty good money.<br \/>\n7:40<br \/>\nI don't want to make money that way. That's safe.<br \/>\n7:42<br \/>\nI want to make money talking to you guys.<br \/>\n7:45<br \/>\nKnow, and in promoting myself, my ideas and helping people, I mean, I can buy 7, 11, 2, ha, adding value to the world. You really want to add value and so find out what what it is that makes makes you feel like you're doing that.<br \/>\n8:02<br \/>\nWhat is it that you know, so if you love it, you should be doing it, is what I'm saying.<br \/>\n8:07<br \/>\nIf you'd love, you should be doing it. Don't do it just for the money.<br \/>\n8:11<br \/>\nBut yeah, Try. Try one, and ask people.<br \/>\n8:16<br \/>\nOr is it OK to have a couple of no brainer, passive income means that way you can takes money to make money that way you get that money.<br \/>\n8:26<br \/>\nYeah, Oh yeah. Is there something basic you can think about that? Basically you do say some crazy, here's what you do. You can go online right now and do this download an example or maybe it's 10 bucks at legalzoom get a copy of what's called an options contract on real estate.<br \/>\n8:43<br \/>\nThis is how you get rich and stay rich.<br \/>\n8:46<br \/>\nIf you really want to, that's, that's a surer way to do it.<br \/>\n8:51<br \/>\nIf you want to have, you can do that as your foundation for your net worth, OK? Build a real estate portfolio, And you can buy real estate, you can buy residential commercial. You can buy real estate paper, like tax days, and certificates. You can buy loans, notes, you can broker them, there's all kinds of ways to get into real estate. You can get all kinds of work.<br \/>\n9:11<br \/>\nWe can talk about that, but get an options contract, and There's a couple of provisions I would have you add in there, but basically your options contract is money.<br \/>\n9:23<br \/>\nLet me give a scenario. I can take an options contract. You can do this right now.<br \/>\n9:27<br \/>\nCboe, you can do this, go down your street, find a house that, I don't know, just, let's say you find one. Let's say theirs.<br \/>\n9:33<br \/>\nThere's a house, a distant foreclosure. You just happen to find it because you look on the public records gay houses in foreclosure.<br \/>\n9:38<br \/>\nOr this is why I'm saying sign is because this is the best opportunity, a financially distressed home.<br \/>\n9:45<br \/>\nYou come over to the property, you knock on the door, and you say, hey, I'd like to buy your house, well, that might solve his problem, right?<br \/>\n9:52<br \/>\nIf he could buy his house now, before he goes into foreclosure. Is going to save as credit, and do some other things.<br \/>\n9:56<br \/>\nRight, right, right, so, what you need to do is control the title. You don't have to come in there and give them a bunch of money. You don't have to go to the bank and get a loan, you already got the money right here. It's called an options contract.<br \/>\n10:08<br \/>\nAll you want to do is have him sign it and it gives you the option to buy your his property at a later date.<br \/>\n10:18<br \/>\nOnce you have this options contract, you're effectively the owner of his house.<br \/>\n10:25<br \/>\nYou don't have to buy it.<br \/>\n10:27<br \/>\nBut you can sell it on a spread and make 10 grand.<br \/>\n10:32<br \/>\n20 Granger.<br \/>\n10:34<br \/>\nSo they don't know that. They don't know it, the homeowner doesn't know that stuff they don't think like this.<br \/>\n10:39<br \/>\nAnd there's other ways of doing that. OK, options contracts, options, contracts are money to get into real estate. That's your money.<br \/>\n10:47<br \/>\nWhenever you buy something like, for example, I'm talking to this lady today, she found a business that the guy wants, $110,000. It is a square deal.<br \/>\n10:55<br \/>\nIt's a square deal, um, and the net income is 9000 a month.<br \/>\n11:01<br \/>\nSo imagine what can you do with $9000 a month.<br \/>\n11:05<br \/>\nMost people, that's more than they make it their job, right, right.<br \/>\n11:09<br \/>\nHow do you come up with $110,000 to get it.<br \/>\n11:13<br \/>\nThat's the net income.<br \/>\n11:14<br \/>\nNow, 9000 a month is that's your that's your paycheck.<br \/>\n11:19<br \/>\nIt's already making 9000 a month. You just have to buy it, Where's the $110,000?<br \/>\n11:28<br \/>\nWhere's your money for it?<br \/>\n11:30<br \/>\nThe seller.<br \/>\n11:36<br \/>\nAnd the options contract. Not in that case.<br \/>\n11:40<br \/>\nIt's owner financing, OK, it's not an option contract. In that case, you can do an options contract, but that's not what I'm suggesting. What I'm saying to you is, financing, when I'm saying to you, is yet.<br \/>\n11:50<br \/>\nYeah, OK, but, what I'm saying is, when you're, when you're looking to buy an asset, always look to the, first of all, always use financing.<br \/>\n11:59<br \/>\nAlways use loan money to buy an asset.<br \/>\n12:02<br \/>\nAnd ask the seller to finance it in some way.<br \/>\n12:06<br \/>\nHe doesn't have to finance all of it, and there are ways to write the contract.<br \/>\n12:10<br \/>\nIn fact, a lot of them will tell you, Hey, I'm selling this asset.<br \/>\n12:13<br \/>\nNo terms, In other words, don't come to me and asked me to finance it for you.<br \/>\n12:18<br \/>\nIgnore that, and do it anyways.<br \/>\n12:21<br \/>\nYes, you gotta think, and this takes awhile, you gotta have some thick skin because it takes awhile.<br \/>\n12:26<br \/>\nSo you're going to have a lot of nos, especially if you're in real estate. So, back to the real estate, you're going to have a lot of nos. Heck, no, I'm not somehow. It's, no, no, no, no, no, no, I'm not going to sell it for that price. You know, there's ways to get there, but it's a numbers game.<br \/>\n12:40<br \/>\nSo, if you just took your neighborhood right now, there's probably, I don't know, I'm in the suburbs, I'd probably have, in my neighborhood, 2500 homes here, maybe.<br \/>\n12:50<br \/>\nIn my immediate neighborhood.<br \/>\n12:52<br \/>\nJust like mine, a three bedroom, two bath floor bedroom to whatever it, why are you know, my houses, one thousand square feet, I go there and if eventually, but if I spend a whole day, I will find a house that I can buy and I can buy it with an options contract. Now, I can also buy it like this.<br \/>\n13:06<br \/>\nI can say, I can say to the owner, Let me take it off your hands if you can't sell it for some reason. If you're in a hot market, it's harder to do this.<br \/>\n13:13<br \/>\nBut you could take it off the sellers hands, subject to the terms of the mortgage.<br \/>\n13:17<br \/>\nWhy would he do that? I don't know. Maybe he's moving in, is, its employer won't pay for it, and he's kinda stuck.<br \/>\n13:24<br \/>\nRight. So, you'd come in there and say, look, I'll take over your mortgage payments.<br \/>\n13:28<br \/>\nI'll take you off the liability, I'll save your credit.<br \/>\n13:31<br \/>\nAll you gotta do is sign right here.<br \/>\n13:32<br \/>\nNow, that's a different kind of contract, then an options contract.<br \/>\n13:36<br \/>\nWell, what I'm saying is, you can acquire real estate, and you should start looking at real estate right now. You should look at residential real estate, as your first means of establishing a nice portfolio, real estate investments. Now. I say all this all the time, I don't do that.<br \/>\n13:51<br \/>\nI probably should do that, but I love doing what I do. I have a professional service and I make a lot of money doing it, and that's what I do.<br \/>\n13:58<br \/>\nNow, maybe I might start putting I started putting some of that into some land, OK.<br \/>\n14:02<br \/>\nSo, I am doing some of that, but My partners and my clients are real estate investors. So, Yeah.<br \/>\n14:07<br \/>\nThe answer is, Real estate ain't pretty, but it'll make you rich. It'll keep you rich. It'll help you survive every economic situation and the government rewards people for investing in real estate because they screwed up all the time.<br \/>\n14:20<br \/>\nThey ***** up real estate, all the Democrats and I'm not affiliate with any party, but I'm just saying the Democrats in their programs of free money.<br \/>\n14:28<br \/>\nThey, they cause blight.<br \/>\n14:32<br \/>\nThey destroy neighborhoods. So then when that, when Republicans come in, they typically re-establish that if they're there for awhile.<br \/>\n14:39<br \/>\nAnd it's always the real estate investor that's rewarded. When the Democrats are there, they're not rewarded.<br \/>\n14:43<br \/>\nYou know, I'm not saying they're all, you know, I'm not promoting any party, I'm just saying, that's typically what happens.<br \/>\n14:50<br \/>\nBut real estate investors clean up the mess that government makes And government rewards them because government's incompetent to do that.<br \/>\n14:59<br \/>\nSo real estate investing is that is the place where rich people put their money and it's also where some rich people make their money.<br \/>\n15:06<br \/>\nAnd you can by the time you're 20, now you'd have to have your dad sign on some things, but by the time you're 20, you could have a real estate portfolio worth several million dollars.<br \/>\n15:15<br \/>\nThat's not outrageous, and you could be having a net income of $20,000 a month.<br \/>\n15:20<br \/>\nThat's not hard to do.<br \/>\n15:23<br \/>\nYeah, it's a numbers game, though, It takes a bit of work.<br \/>\n15:28<br \/>\nStill about financing because I know the government colony you wouldn't want your average person to learn about this stuff. So where can I go to learn more about it. Well, OK, financing, OK, here's the best way to learn.<br \/>\n15:41<br \/>\nTry to get a loan.<br \/>\n15:43<br \/>\nGo to, go to a lender to buy a piece of real estate. Now, they're gonna, The lender is going to say, You have to have your dad sign-up, whatever, or, and look at, look at what he does interact with. That lender. The broker mortgage broker.<br \/>\n15:55<br \/>\nLook at what he's going to do.<br \/>\n15:57<br \/>\nHe's going to have you fill out some forms. He's going to give you some disclosures on the housing and urban development. That agency is going to be involved HUD.<br \/>\n16:07<br \/>\nthere's some HUD disclosures.<br \/>\n16:09<br \/>\nSo that is probably, in my opinion, the best way to look at that whole process, but as far as loans go, and the time value of money, that's going to come when you start reading things like Rich Dad, Poor Dad, the ABCs of real estate investing.<br \/>\n16:25<br \/>\nOr it's gonna come when you look at, literally anything on the time, value of money.<br \/>\n16:31<br \/>\nAlso, the Rule of 72.<br \/>\n16:37<br \/>\nOK, the route to the Rule of 72, who's the one before that, John?<br \/>\n16:43<br \/>\nThe time value of money Anything has to do with a time value of money note brokering.<br \/>\n16:48<br \/>\nOK, now here's a very important term The net present value, now you've learned this.<br \/>\n16:55<br \/>\nAn algebra in school or you will the net present value that understanding that will make you rich.<br \/>\n17:04<br \/>\nSo if you ever thought algebra was a waste of time, it is for all the dupes that think it is, Did you guys saw my video where I, I just had it. I had to do it. I was showing people about amortization.<br \/>\n17:18<br \/>\nAnd I had to put the algebraic equations, I saw that.<br \/>\n17:21<br \/>\nYeah, I just do that to ***** with people because, you know, my children say, Dad, why do we have to learn this? And I go. Because I had to learn it, and it's for no other reason, other than I got up, and.<br \/>\n17:38<br \/>\nI mean, I'm not sure, I'm not trying to, but yeah, net present value, interests, princeville, rate, time, all that stuff, net present value, the time value of money will make you rich.<br \/>\n17:52<br \/>\nSo here's an example, let's say Let's say you bought a house, you have the title to a house. Let's say there's no debt on there.<br \/>\n17:59<br \/>\nAnd I did this before, so there's no dead on the house, and you sell it for $80,000. That's the fair market price of the house.<br \/>\n18:07<br \/>\nSo because the buyer, you know, he's going to pay you, you already checked it out, it looks like a good risk. So you lend him all the money.<br \/>\n18:14<br \/>\nTo do that, you write up a mortgage agreement and you write up a Promissory Note. Any signs everything you record, the mortgage, the mortgage is a Lien on the property.<br \/>\n18:22<br \/>\nSo this is known as collateral for the loan, and I write up a note now, here's what happened. I Didn't like go into my pocket and give him $80,000 I just said you can pay with $80,000 over time and I will finance it for 30 years.<br \/>\n18:37<br \/>\nThe reason why I was willing to do that is because as soon as he signed the note, I could turn around to my friend over here, Which was what I did and broker the note?<br \/>\n18:46<br \/>\nSo I brokered the note for like it was probably $60,000.<br \/>\n18:51<br \/>\nSo I sold a house for $80,000 and I lent the guy $80,000 on paper.<br \/>\n18:56<br \/>\nI see I got 60 in cash.<br \/>\n19:00<br \/>\nThat 60 in cash is worth the 80.<br \/>\n19:04<br \/>\nBut I wasn't willing to wait.<br \/>\n19:06<br \/>\nIf I'm willing to wait that $80,000 I'll get it over 30 years By the time I get it, it's worth about $22,000 You See why? The time value of money is essential?<br \/>\n19:18<br \/>\nThat's $60,000.<br \/>\n19:19<br \/>\nI turned into something else and made some money with even if I made two grand a month with it It's cash flow that I wasn't gonna get from the buyer because he's only gonna pay me $800 a month for the mortgage payment You see?<br \/>\n19:32<br \/>\nSo, You know, These are these are types of ideas.<br \/>\n19:35<br \/>\nI'm I'm giving you these stories because there's phrases that you want to be looking at, net present value, brokering a note The time value of money, all these rule of 72. So like if I if I'm gonna get into something with somebody I'm gonna I'm gonna ask them so when do I get my money back?<br \/>\n19:54<br \/>\nI call it my friend in Atlanta while he he's a real estate investor, I tell them, Hey, can you please 50 grand for me?<br \/>\n20:01<br \/>\nHe goes, yeah, man. I got some deals, so I placed 50 grand with him and he could put it in real estate, and then he pays me return in three months or six months.<br \/>\n20:08<br \/>\nSo, I asked them, What, what does when they, When am I get my 50 back?<br \/>\n20:13<br \/>\nAnd he'll say, I can get it back to you about a year, and that's usually pretty good.<br \/>\n20:17<br \/>\nThat's, that's 100% return on your money one year.<br \/>\n20:20<br \/>\nYou're not going to find that anywhere the only time you get John. Yeah.<br \/>\n20:27<br \/>\nSmart Men, like you, you probably have, like five of those guys. Yeah, yeah, I talked to a lot of people.<br \/>\n20:32<br \/>\nYeah, Yeah, yeah, I mean, that's how I learned this stuff. I mean that a lot of them showed me a lot about equity stripping and planning, and risk management and all this.<br \/>\n20:41<br \/>\nThey don't look at it. That way. They look at, is, how do I get the most money the fastest, you know?<br \/>\n20:45<br \/>\nBut I look at it and turn it in terms of, because my, my, uh, my thinking. I have a little bit different way of looking at things because I look at it Like If I wanted to like by the end of November, I can make 50 grand on something I can just go make a deal with somebody make, 50 grand. I don't, I'm not trying to I don't need to build up like an you know a net worth and then live off of that.<br \/>\n21:06<br \/>\nI Could do that, but I'm Not thinking before about, like scaling the company. So you would do multiple times.<br \/>\n21:15<br \/>\nYeah, scale what company you and what you were doing like, I've done that before I've done that. I made a lot of money doing that. I made millions of dollars doing that. Scale, Check, yeah, that's what I'm doing right now, and in fact, I'm re on rebuilding everything and redoing all my content. And that's, why have these different subscriptions.<br \/>\n21:31<br \/>\ndivorce in the state, the security agreement, the easements, all these things, the repackaging my work but I'm adding more work to because I've never done those things before. Just like the fake pandemic I never did anything like that before. So I had, I had to learn, I took about six months to learn the language, the legal process, and what rights my client had.<br \/>\n21:50<br \/>\nBut they're all property rights.<br \/>\n21:54<br \/>\nSo, so.<br \/>\n21:54<br \/>\nYeah, I mean, if I were, You look at real estate, and also consider, all right, so people always need a place to live. You've got this blowing up population in different places like South South Florida's blowing up.<br \/>\n22:08<br \/>\nActually, Florida is in General Ocala as the most stable real estate market in the state and probably the south-east.<br \/>\n22:14<br \/>\nNow, you can get that information, if you look around for it, you'll find maps and demographics and all this stuff.<br \/>\n22:18<br \/>\nBut it just so happens in Marion County, Ocala, Florida Horsed country.<br \/>\n22:23<br \/>\nIt's a pretty stable real estate as far as pricing goes and value and stuff like that.<br \/>\n22:27<br \/>\nAnd people want to stay there.<br \/>\n22:29<br \/>\nSame thing for just south of there.<br \/>\n22:31<br \/>\nWhich is not Holly in the hills, but what the heck is it? Everybody wants to go there, the old people.<br \/>\n22:38<br \/>\nI exclude myself from that demographic, because even though I'm 55, it's only the other old people.<br \/>\n22:46<br \/>\nWhat was that? Cause I can always enter. It's what they're building these houses like mad Over there, because people are coming from California. They're fed up with California, and they're coming to here to here in Texas.<br \/>\n22:57<br \/>\nYeah.<br \/>\n22:58<br \/>\nSo, yeah, I mean, so, the idea behind real estate is you want to own, that you want to own the property as an investment, and you're not really trying to gamble and speculate on the increase in the price. You're just, you're just buying the property.<br \/>\n23:13<br \/>\nYou're not, in my opinion, you're not trying to buy something that you think is going to be worth more later, because it will be.<br \/>\n23:21<br \/>\nBut, so, will the dollar be worth less later?<br \/>\n23:24<br \/>\nThat's not your gold.<br \/>\n23:27<br \/>\nYour gold is having a portfolio and ownership of assets.<br \/>\n23:31<br \/>\nAn asset, meaning that, it's property that makes you money.<br \/>\n23:37<br \/>\nAnd when the debt service comes down on it, you want to get refinancing and get more debt on the property.<br \/>\n23:43<br \/>\nYou want to keep using other people's money on an asset, even if you paid cash for the asset.<br \/>\n23:48<br \/>\nYou want to borrow money against it. You don't need to borrow 100%, but like 50%, you know, you'll figure out what those numbers are.<br \/>\n23:54<br \/>\nNow, you know, here's, let me explain why. I mean, what I mean by that.<br \/>\n23:57<br \/>\nSo a lot of people, so a lot of people like us that are like our network, under $3 million. Let's say a lot of people like us, We have the mindset that we're gonna save money and we're going to take our cash, and we're gonna buy this piece of real estate or some business or an asset and that's fine, that works.<br \/>\n24:13<br \/>\nBut most investments, most worthwhile investments, if you go around in your way to school, or you drive around town, look around, and see the hotels and the grocery stores and the shopping centers, and the residential communities, and the multi families and the apartment complexes.<br \/>\n24:27<br \/>\nAnd the roadway itself, that could not have been built without debt.<br \/>\n24:34<br \/>\nDebt is the most effective way to get things done. Now, think about it like this. Let's say I have $10 million because I just won the lottery or something and I go buy a small hotel.<br \/>\n24:44<br \/>\nSo, I paid cash for the hotel. Yay. And now I have a net income of something, some ungodly like, $100,000 a month. Who knows what $10 million makes?<br \/>\n24:53<br \/>\nI don't know, Well, So I don't have any debt on this hotel. This hotel is an asset.<br \/>\n24:59<br \/>\nAnd I'm making, what, $100,000 a month?<br \/>\n25:02<br \/>\nFree money, I guess you can say, right?<br \/>\n25:05<br \/>\nI didn't just spend the 10 million.<br \/>\n25:07<br \/>\nThat's after tax money by the way, because because the lotto is taxable, gambling is taxable. But anyways, so I got this hotel.<br \/>\n25:15<br \/>\nNow, by default, I'm the lender why I own it, but I don't have any debt on there.<br \/>\n25:24<br \/>\nThat makes me, by default, the lender that puts C loan money on an asset is a way to manage risk on the asset. If I don't have loan money on it, I have the risk now.<br \/>\n25:37<br \/>\nI need to get rid of that risk. How do I do that?<br \/>\n25:40<br \/>\nI take someone else who's suited to loan. The money, I must explain why.<br \/>\n25:45<br \/>\nSo, what if my grandmother was rich?<br \/>\n25:48<br \/>\nWould she be suited to lend me the money? I already got already own the hotel.<br \/>\n25:52<br \/>\nAnd my granny says, Here's $8 million, I'll be the lender on there, So then I start paying her a mortgage on the hotel.<br \/>\n26:00<br \/>\nNow is Grani suited to be a lender just because she has $8 million to lend me?<br \/>\n26:06<br \/>\nNo, she can't call up another bank.<br \/>\n26:12<br \/>\nThe state, another state or in Europe, and have them buy the note that she just lent me.<br \/>\n26:18<br \/>\nThat's what banks do.<br \/>\n26:20<br \/>\nBanks are not lenders.<br \/>\n26:24<br \/>\nThink about this.<br \/>\n26:26<br \/>\nHmm, Banks are what, I'm Azavea, What they're not lenders. If they're not lenders, what are they?<br \/>\n26:34<br \/>\nBorrowers, you get you **** right.<br \/>\n26:37<br \/>\nThanks. Our borrowers, Thank you, for that.<br \/>\n26:40<br \/>\nBanks or borrowers, So granny lends me the $8 million. She don't have $8 million.<br \/>\n26:48<br \/>\nWhat she's not doing. She's out that money.<br \/>\n26:51<br \/>\nShe's losing money, But the bay, the bank is suited to do that. It's supposed to take on that risk. It has the infrastructure to do that, It has the licensing, it has the competence, it has the resources. It has a way to dump off its own risk. Do you know where the bank dumps its risk off?<br \/>\n27:09<br \/>\nAnother bang. Bang, yes.<br \/>\n27:11<br \/>\nAnd, the stock market pension funds. Yeah.<br \/>\n27:18<br \/>\nWe have funds so that the stupid consumers absorb all the risk that the bankers are taking.<br \/>\n27:24<br \/>\nThey're not to help you.<br \/>\n27:27<br \/>\nYeah.<br \/>\n27:29<br \/>\nMake your own pension fund, by the way.<br \/>\n27:31<br \/>\nSo, you want to, you want to use debt to acquire assets, or you can use your own cash, but later use debt to leverage your risk. So here's what your risk looks like.<br \/>\n27:41<br \/>\nWhatever amount of money you put into an asset is money, you ain't using somewhere else.<br \/>\n27:46<br \/>\nThat's your risk, right?<br \/>\n27:48<br \/>\nIt looks good.<br \/>\n27:49<br \/>\nYou look rich and everything, and you're probably rich, but you could be you're ineffective because if, if I'm competing with you and your neighborhood, I'm going to beat you because I'm gonna go get debt money.<br \/>\n28:00<br \/>\nAnd I'm going to have more debt.<br \/>\n28:02<br \/>\nand I'm gonna make more money. And by the end of the three year period, my net worth will be three times yours.<br \/>\n28:07<br \/>\nbecause I didn't use my money. You always want to use other people's money.<br \/>\n28:11<br \/>\nAnd so another example that is, it's not so much other people's money as it is, other people's resources, It's always OK to do that because you always think of yourself first.<br \/>\n28:23<br \/>\nEspecially in business, everything is adversarial. You think of yourself first, but you don't do it to someone else's detriment.<br \/>\n28:29<br \/>\nThat's the thing that people don't make. They don't make that distinction. They think, well, that's selfish. And I say, Well, ****, right. It is, because I have family that are depending on me and you're **** right, I'm going to be selfish.<br \/>\n28:39<br \/>\nBut I want to do it in a way. That's not to your detriment, because I want you around next year, in 10 years from now, because I want to make deals with you. Because if you're no person I want to work with, I'm not going to do anything to cheat you today.<br \/>\n28:52<br \/>\nHere's an example. This is one I love giving so, with VJ.<br \/>\n28:56<br \/>\nSo, VJ I was listening to his show in 20 17. And I had this idea. This is another example of the kind of stupid things I do.<br \/>\n29:02<br \/>\nSo my idea was to promote the dark web.<br \/>\n29:07<br \/>\nGuys, if the dark web is private way, that's it's not indexed up by Google.<br \/>\n29:14<br \/>\nIt's encrypted.<br \/>\n29:16<br \/>\nSo nobody can really follow who's doing what.<br \/>\n29:19<br \/>\nMostly, I mean, yeah, you have to take some precautions but what I'm saying is, So the dark web and the onion layer engine. Yeah. Yeah, the onion layer, right? So the dark web is about 95% of the internet connections on the Earth.<br \/>\n29:35<br \/>\nThe internet we use, on our mobile phones is about 5% of the total internet connections of the Earth.<br \/>\n29:43<br \/>\nSo the dark web is the Internet.<br \/>\n29:46<br \/>\nYour bank uses the dark web.<br \/>\n29:48<br \/>\nThe military does government agencies, inter-governmental communications are all on the dark web. They have to be, to be secure, because they have, they're responsible for the data integrity, OK, So, by default, the dark web has to be used for important business transactions, and even your bank and all those things.<br \/>\n30:05<br \/>\nBut anyways, so I want to introduce this idea, and the use of the dark web, and access to the dark web to people, and it's kinda complicated to get on the dark web.<br \/>\n30:13<br \/>\nYou have to do some things to your computer. Otherwise, you could just, your computer can be wiped out if you're not careful. So I thought, well, let me just isolate an operating system, and I'll do that on one of these column.<br \/>\n30:25<br \/>\nI don't have one handy here, but, you know, this USB, you plug in your computer, and it stores data, right?<br \/>\n30:32<br \/>\nYeah.<br \/>\n30:32<br \/>\nIf you change the boot sequence on your computer, when you turn on your computer, it'll look at the port that you have your USB, and first. Right now it looks at your hard drive.<br \/>\n30:43<br \/>\nBut you can make your computer look at the port first, alright.<br \/>\n30:46<br \/>\nSo if I change the boost sequence and I put in a USB drive, and on the USB drive, I have an operating system, there are certain types of operating systems that are encrypted.<br \/>\n30:55<br \/>\nSo I put this on the USB drive. I plug it in, boot at my computer.<br \/>\n30:59<br \/>\nAnd the first thing my computer does is load up the Operating system from my USB drive. It doesn't even touch my on my Core Computer. Yeah, all right, so once I have this operating system running, I can now access the dark web safely.<br \/>\n31:14<br \/>\nAll right, all right, So this is how I presented it, and so I call it V J, this is the first time ever talked to my, it was after his show, and I just called them up.<br \/>\n31:22<br \/>\nHe didn't know he didn't know me at all.<br \/>\n31:25<br \/>\nIt turned out he just answered the phone.<br \/>\n31:27<br \/>\nHe's like I am, you know, this guy's Emilia, ... Hills. They have a nice conversation. I just said, hey, man, I listen to your show. It's awesome. He was talking about this debt service he had, and I said, I retired a few years ago, and I've got all this work and material that I, just, I'm just sitting on, and it's copyrighted. And I'm more than happy to give it to you, because why re-invent the wheel?<br \/>\n31:48<br \/>\nYou know, I'm an entrepreneur, like you are, so we had this nice conversation, And it was interesting, was very interesting, We're both like, you know, really, like, yeah.<br \/>\n31:56<br \/>\nAnd then at the end, he goes, well, why are you doing that?<br \/>\n32:01<br \/>\nI said, Oh, I forgot.<br \/>\n32:03<br \/>\nYeah, I said, First of all, I like your show, and I like showing people how they do this stuff. To do this, I don't do it anymore. And I'll, I'll coach your people.<br \/>\n32:13<br \/>\nBut I said, now that you ask, I had this idea to sell a USB. That gets people on the dark web and I think people would like it, I think it's appealing, and they are enamored by the idea of the dark web, you know?<br \/>\n32:24<br \/>\nHe goes, oh, yeah, I said, let me send you the whole, the whole package. I'll just send it to you, like you're a customer. I hadn't sold one of them yet.<br \/>\n32:33<br \/>\nSo I send them to him. How much are you charging jer?<br \/>\n32:35<br \/>\nIt was, at the time, it was, I don't do this anymore, I mean, I'll do it if you want me to, but it was like a couple hundred bucks, OK.<br \/>\n32:41<br \/>\nSo, I got this guy on fiverr dot com for $50.<br \/>\n32:46<br \/>\nI said, install the operating system for me, now, I can do it, I know how to do it, but he did it for me or for $50. He installed this USB then all I had to do was copy it.<br \/>\n32:55<br \/>\nWhy I copied this USB for every order, and I shook I job shifted from my office.<br \/>\n33:01<br \/>\nI had my wife.<br \/>\n33:02<br \/>\nThis is how you do stuff, right?<br \/>\n33:05<br \/>\nWe sold this thing that cost me $8, because we put free software on there and we sold it as get on the dark web, it was $200, $300, Something like that. Right?<br \/>\n33:17<br \/>\nCan go to the dark web safely and not ruin your computer.<br \/>\n33:21<br \/>\nSo anyways, we made, he and I, so I send them the thing. he calls me, he goes, dude is working, let's sell it, so he did it.<br \/>\n33:28<br \/>\nHe and I gotta did an interview, OK, So he introduced me for the first time on his show, like in 20 17, Maybe it's before it was in the spring of 2017, So We made 50 grand Like three months selling the thing. Yeah, so my deal is always typically Let's split the net. That's how I do things with people to this day. We've made so much money together just working with each other referring people. He knows things.<br \/>\n33:52<br \/>\nHe's and he's in the precious metals industry or he was nice. So he has contacts over there, he has set up his own crypto exchange, that's private, so now I can work with my clients into escrow and and, and move money around. So then he gets, he has me do other things for him, and so we work together.<br \/>\n34:13<br \/>\nBut anyways, but so.<br \/>\n34:15<br \/>\nMy point is here that he had spent several years developing a resource of an audience that was inclined to be interested in a product like this, if I were selling like nicholas's. They wouldn't care.<br \/>\n34:30<br \/>\nRight. It happened to be something that they definitely would care about, right? Well, I don't have the I didn't have an audience. I still don't have an audience, really.<br \/>\n34:37<br \/>\nHe does, and other people do, I rely on those audiences I rely on joint venturing? So I can build up my own audience, which I'm kind of doing right now. But I could build up my own audience.<br \/>\n34:46<br \/>\nAnd I could sell products to my own audience and I can make more money per sale. And I don't care about that because there's always plenty of money. I much rather partner with somebody who has an audience. That's his thing.<br \/>\n34:57<br \/>\nHe has great content.<br \/>\n34:59<br \/>\nHe has, like, 12 different sources of content that he's interviewing all these people, and every once in a while, I get on there with them, like that E bike thing we did, so, so yeah, so we split the net, and so, we just had a great time together.<br \/>\n35:11<br \/>\nNo, but anyways.<br \/>\n35:12<br \/>\nUse other people's money and other people's resources, and that's what I did with veejay, He knows that.<br \/>\n35:18<br \/>\nRight, but I didn't, certainly didn't exploit him, and I made him look good.<br \/>\n35:23<br \/>\nThat's what you do, you make someone else look at, once, when I interviewed by somebody, my thinking is, what am I going to say on the show? I wanna say something that would be compelling to the audience, and sometimes the person interviewing me doesn't know what to ask, so I prompt him.<br \/>\n35:37<br \/>\nI bring up, so, I'm trying to actually serve the audience there, because I know in the, in the backend, they're gonna see me as having credibility and they're gonna find out what I'm doing.<br \/>\n35:48<br \/>\nSo it's just just, you know, this is, you'll learn later, how to get, you know, sell me, because I'm always selling, you're always selling.<br \/>\n35:57<br \/>\nIf you're, If you're gonna, if you want to support yourself with money, you're always selling, what a lot of people end up doing is, when you get a job, in your mind, you made one sale and you're happy with that, and you just hang onto that one.<br \/>\n36:10<br \/>\nAnd that's how you stay poor.<br \/>\n36:13<br \/>\nYeah. Makes sense.<br \/>\n36:16<br \/>\nYou have you're going to discover as you get older This is what I figured out.<br \/>\n36:19<br \/>\nYou have talents, you don't know about them yet, But you will imagine that you have the talent's and you don't know what they are. But So what you do is you push forward and try to do something that serves yourself. Your family and your customer or partner or whatever.<br \/>\n36:36<br \/>\nThe thing and enjoy doing it, do something you love and what will happen is, as you develop or discover your talents, you then can develop those talents and so I think it's sinful not to develop your talents.<br \/>\n36:49<br \/>\nYou have to, everybody has them.<br \/>\n36:51<br \/>\nHe's had to figure out what they are.<br \/>\n36:54<br \/>\nYeah, she has a lot of interest right now, which is good. I'm like, well, she doesn't want to stay sitting on the couch watch that if she's not one of the kids don't watch TV at all.<br \/>\n37:05<br \/>\nDon't you game?<br \/>\n37:05<br \/>\nIt don't own Baseball resistor they're always gonna be book. She's asking me, which is probably one of her question for you, but it's like what books do you recommend her ...? like, there's another one? I just yeah, OK. That's fine. But, but Robert Kiyosaki.<br \/>\n37:24<br \/>\nAnything kiyosaki's written He's written for us the layman the people that don't have the money yet.<br \/>\n37:31<br \/>\nOK, Robert kiyosaki's books ABC is a real estate investing rich Dad poor dad, but also Warren Buffett's book, the The Warren Buffett Way.<br \/>\n37:44<br \/>\nMmm hmm.<br \/>\n37:45<br \/>\nAnd Warren Buffett.<br \/>\n37:47<br \/>\nI mean, if you want to do some research on this guy, let me just explain what his career, how he began back in probably the late fifties or the sixties.<br \/>\n37:54<br \/>\nThis guy's still kicking his um, I have mixed feelings about him but I'll just tell you. So, Warren Buffett, as you probably imagine you've probably heard something about Warren Buffett or a billionaire.<br \/>\n38:08<br \/>\nRight? Yep.<br \/>\n38:10<br \/>\nWell, when he was in, as you know, teens like you, he thought, well, he could, he would order, he would get a copy of the stock report.<br \/>\n38:21<br \/>\nAnd he would look at the stock values and the companies. And he would look at their financial reports.<br \/>\n38:27<br \/>\nAnd he learned how to read the financial reports and determine if they were good or bad, or of the if the stock value was proper. He could tell you, like, he could look at that.<br \/>\n38:36<br \/>\nA lot of times, people in his, in that market, in that profession, would know less about understanding the value of the company. Then he would, so he had an advantage because he really understood how to value evaluate a company.<br \/>\n38:47<br \/>\nSo anyways, he would just do this, and because he was good at reading the balance sheets, And by the way, you can have someone help you read a balance sheet if you ever need to that, but anyways, he was good at it, so what better person then he to invest in these companies, because he would know where to put his money, right?<br \/>\n39:05<br \/>\nBut like I told you before, real investments aren't made with your own money mm.<br \/>\n39:11<br \/>\nSo he went out and bought two insurance companies.<br \/>\n39:14<br \/>\nGo look at his biography you'll see about two insurance companies. What do insurance companies do?<br \/>\n39:20<br \/>\nWith the premiums You pay for insurance every month.<br \/>\n39:22<br \/>\nWhat do the insurance companies do with those premiums?<br \/>\n39:26<br \/>\nWhat are they required to do by law?<br \/>\n39:31<br \/>\nI'm not sure, they have to invest it.<br \/>\n39:33<br \/>\nThey have to, 80% of the premiums have to be invested somewhere, if not, they're in jail.<br \/>\n39:43<br \/>\nThis is very important, and, by the way, insurance and banking is the same thing. It all has to do with actuarial and risk management, we can get into. We can talk about that.<br \/>\n39:51<br \/>\nBut, so, Warren Buffett went, in fact, he bought two insurance companies, because the insurance company is an investor, he bought the **** investor, so that he could use money to do what they're already doing.<br \/>\n40:06<br \/>\nHe just own the sales process, right? Ah.<br \/>\n40:12<br \/>\nSo, how did he get there?<br \/>\n40:14<br \/>\nThe companies he borrowed 100,000 from his uncle or somebody family member.<br \/>\n40:19<br \/>\nHe borrowed $100,000.<br \/>\n40:22<br \/>\nThat was the beginning of his career, OK?<br \/>\n40:24<br \/>\nSo, he bought insurance companies. That sole purpose is to invest, and manage risks, to invest, to manage risk by investing in other companies. So, anyways. So, he grew his net worth to a point where you'll, you'll hear him if you go read his reports he does an annual report he and Charlie Munger they do an report every year.<br \/>\n40:42<br \/>\nYou can buy some of the second party stock from Berkshire Hathaway. Berkshire Hathaway used to be a was a, it was a textile mill.<br \/>\n40:52<br \/>\nNow he bought after the assurance companies he bought Berkshire Hathaway.<br \/>\n40:56<br \/>\nIt was a failing textile mill and he turned it into the hub of his company that now owns everything. So Berkshire Hathaway is the stock that you can buy for. Like, what is $150,000 a share? Something like that? And if you don't want to buy a whole share or one share part of a share or something, you can go on the secondary market.<br \/>\n41:13<br \/>\nAnd you can buy a share of a share for $10 a share.<br \/>\n41:19<br \/>\nJust so you know, there's all that going on in the background, but anyway, so, He got to a point where he bought the biggest companies you could possibly buy into where he cannot buy there, isn't a company big enough, He was complaining back in the nineties, We can't find a big enough company, and this is why I have mixed things about him, because I think he was sold on the cocaine trade from Mexico and I think he owns it.<br \/>\n41:44<br \/>\nReally, I think that's what happens.<br \/>\n41:46<br \/>\nWhen you have so much money, you, basically, you have more money than most countries, that in connection with that, um, Mexican guide, I Funds politics. I think it's a higher level. I think he owns the resources in the land rights and things like that, and these are things that you can't see. They're not something you can deal with in core.<br \/>\n42:03<br \/>\nSo, I mean, you'd have to do some more resources. So, I mean, it's logical that he would do that, because, unfortunately, investing at that level has no no concern for morality.<br \/>\n42:13<br \/>\nSo, just be aware that I think that's important.<br \/>\n42:15<br \/>\nI think Moralities important, you can. You can there's things I know that I could do right now that I could just make millions of dollars a year.<br \/>\n42:21<br \/>\nAnd I could probably get away with it or risk being arrested, but I'd rather do something fun. And I don't want to I don't want to break the law and stuff like that.<br \/>\n42:30<br \/>\nSo I had a guy called me one time, he was making about a million dollars a year, $2 million a year for me. He was a sales organization that I hired. I partnered with this guy. And that wasn't good enough for him.<br \/>\n42:42<br \/>\nHe calls me on the phone and says, hey, John, I got this deal where we have a cell phone room and we're soliciting a red cross donations. I'm like, OK, that's nice.<br \/>\n42:51<br \/>\nBecause you want to share of it. I don't know why you want to get me involved. I think he wanted to use my name or something. So he'd have a like a, Yeah, an escape plan or something. And I said, Well, OK, But while, where's the money there? Because you don't, you're collecting donations? Are you going to do is cover your operating costs? He goes, No, we keep like 90% of the money.<br \/>\n43:09<br \/>\nI said, Well, I even do that. I'm not, I don't, don't, thank you for asking, but I'm not, I'm not into that, now. I'm not gonna, I'm not gonna make it look like I'm collecting a donation and I'm gonna keep most of it.<br \/>\n43:20<br \/>\nThat's not right. Right?<br \/>\n43:23<br \/>\nSo, yeah. So, so I know that's a lot of a broad brush of information, but real estate is always going to do well.<br \/>\n43:30<br \/>\nMy partners have made money in the Wurst markets and they struggled. Some of them lost money temporarily, but you stick with it. You don't fail until you stop trying.<br \/>\n43:39<br \/>\nIt sounds it sounds like a cliche, but it's absolutely true.<br \/>\n43:44<br \/>\nJust like two things, when you get a second. Yeah. Yeah. Go ahead.<br \/>\n43:49<br \/>\none of them was in video. You said your daughter walked into Bank.<br \/>\n43:53<br \/>\nCame and asked you just two questions figured out how to get her on longed to be the coal sector. Yes you bought a car.<br \/>\n44:04<br \/>\nShe bought a car and she got finance logins Will.<br \/>\n44:07<br \/>\nBut yeah I mean that's the way she went about doing it.<br \/>\n44:12<br \/>\nYes she used a corporation that helps her setup. So she took her corporation and made it. The bank allowed her to use it as a co-signer.<br \/>\n44:19<br \/>\nThat's weird. I never thought you could do that. But anyway, she did it. And she got the thing.<br \/>\n44:24<br \/>\nShe bought the car on it like I think she put like 25% down and she didn't get me to co-sign and by the way, don't co-signed for your children, CBO. Let them go through it. And just like, I don't know, if you had this discussion about going to college, that's a complete waste in the states. If you want real college training, go to Asia.<br \/>\n44:43<br \/>\nIt's even worth learning the language, or use technology, like, I've got this thing, but what part, what part of Asia?<br \/>\n44:50<br \/>\npick, Pick one. China, Japan. Japan is excellent.<br \/>\n44:56<br \/>\nThailand, there's so many Asian countries. Korea, South Korea. You're holding up, John.<br \/>\n45:02<br \/>\nThis is a, it's a translator so I can translate in almost every language.<br \/>\n45:07<br \/>\nOh, you do it offline or online.<br \/>\n45:10<br \/>\nIt's really cool.<br \/>\n45:12<br \/>\nI mean, so it's on sea like this.<br \/>\n45:15<br \/>\nSo my wife was explaining something to me in Bulgarian the other day. So now she says it in here and then it.<br \/>\n45:25<br \/>\nSo that's the English version of what she was saying.<br \/>\n45:28<br \/>\nAnyways, cool.<br \/>\n45:30<br \/>\nSo yeah this thing that's pretty cool. But yeah, go to or be an apprentice for a thing you want to learn.<br \/>\n45:38<br \/>\nBeing worked for somebody for free. This is another thing. So I had my children, my, oh, my daughter learn Chinese. So she could speak Chinese, and she could speak on a children's level. And so my, my thinking isn't, I started her when she was 16. And she pretty much got it until she was 18. So she can go to China right now, and she can make, make, do, She can do, OK. And she knows some Japanese and the sort of thing she owes him, she knows Korean.<br \/>\n46:01<br \/>\nMy thinking was, I wanted her to go to China or be have the freedom to do what she wanted to go to China and worked there for free for like six months while they rebuild the Forbidden City.<br \/>\n46:12<br \/>\nThis is one of their projects. They're just about finishing it right now.<br \/>\n46:14<br \/>\nIt was A It was a six year project, And then it was a 20 year project. It's an amazing, it's an amazing story. But I want her to go there and work for free to learn.<br \/>\n46:24<br \/>\nThis is my version of going to college.<br \/>\n46:26<br \/>\nBut you can do that anywhere in the world, or you can do that in your neighborhood.<br \/>\n46:31<br \/>\nYou can ask to be an apprentice, sometimes you have to sign an indemnification agreements say like, I'm not gonna hold you liable for anything. I just like to come in here and do whatever.<br \/>\n46:39<br \/>\nI'll sign a non-compete agreement, whatever, right? Just so you can learn. I've had people come to me and just want to learn.<br \/>\n46:46<br \/>\nAnd I love that, because I can get free labor, you know? But they're getting, they're getting, in fact, I pay them if they make commissions, you know?<br \/>\n46:56<br \/>\nAnd then they move on.<br \/>\n46:58<br \/>\nBut yeah, do that too. You can learn.<br \/>\n46:59<br \/>\nBut definitely on the affiliates, it's about sales and make sales and find out where you can make sales like the joint venture I'm talking about, OK. So that was a long story, but here's a quick version, let's say your cousin is over there and he runs on auto repair shop. We have a good, a good mechanic over here in Our Town, right?<br \/>\n47:16<br \/>\nSo, if I went over there, he didn't have the real estate to do this, but let's just say, let's just say he has an auto repair shop, and he's an expert at that.<br \/>\n47:23<br \/>\nBut, he's got this extra space over here. He's not really using maybe, or maybe he's on next next to a lot that I can, because he's there, I can work out a deal. So, I go over there, and I say, let me do, let me put on a car show on this weekend.<br \/>\n47:37<br \/>\nAn en helped me promote it and maybe we can make a few grand.<br \/>\n47:42<br \/>\nThat's an understatement.<br \/>\n47:44<br \/>\nSo, he says, Sure, and I go, I'll do all the work. I'll put up the money. I just need you to send out a message to the customers that came in your shop for car work.<br \/>\n47:52<br \/>\nOver the last year or two.<br \/>\n47:55<br \/>\nThe recent customers that came in, So he might have 10 or 20,000 customers in his database. And he might have, you might have 7000, or 6500 people that came in. In the last couple of years, for work.<br \/>\n48:05<br \/>\nThere would be, like, oh, yeah, they would get a text message, or, or, whatever. And they would say, oh, yeah, I know that guy.<br \/>\n48:11<br \/>\nI'll check it out. And so then, I call up some of these antique car dealers, Right?<br \/>\n48:16<br \/>\nAnd I say, Hey, I've got an event.<br \/>\n48:18<br \/>\nIf you bring your cars over, you can promote your business, right, and maybe I charge them a few hundred bucks. So, I'm making money all this, all these different ways.<br \/>\n48:26<br \/>\nSo I'm promoting the car repair shop, because when people go, there, was gonna say, Oh, I never heard of this guy was over here. Wow, There's a lot of people here. I might take my car here for an oil change, right. Or you can have coupons, you see.<br \/>\n48:37<br \/>\nSo I Joint venture with somebody who has a database of perspective, members, customers, attendees, and I come in with an idea, and I promote other people's things.<br \/>\n48:47<br \/>\nSo I'm always serving other people, right, In the end. Maybe at the end of the whole day. And I worked my *** off 16 hours a day for two, or three days or something, make a lot of phone calls. I might keep in my pocket, two grand.<br \/>\n49:00<br \/>\nThose relationships, and those interactions are going to last a long time.<br \/>\n49:03<br \/>\nAnd I can make a lot more money, over time.<br \/>\n49:06<br \/>\nBecause now, when I pick up the phone and call people, they're like, yeah, let's do some.<br \/>\n49:10<br \/>\nRight? Because they're going to make some money, that's what I'm talking about.<br \/>\n49:13<br \/>\nSales, You can use it to create relationships and make more money later, always serving other people.<br \/>\n49:21<br \/>\nLook at what other people's needs are.<br \/>\n49:25<br \/>\nAll right, Sales, sales, sales.<br \/>\n49:36<br \/>\nSo sales makes the most money, Use debt to manage risk on assets.<br \/>\n49:42<br \/>\nYou don't need the debt to acquire the asset, although, that's the ideal situation. But, at some point, you're going to use debt on the 91 acres I have.<br \/>\n49:50<br \/>\nThere's 2 parcels 66 acres and 25 acres on the 25 acres.<br \/>\n49:54<br \/>\nI'm placing illegal claim on the property called an easement. It's the way the property is going to be used, and so I'm going to use that easement what it does is it secures someone's interest in the property.<br \/>\n50:06<br \/>\nSo, as a title holder, I can convey the product, the property use rights.<br \/>\n50:10<br \/>\nAs a matter of public record that way, I can never take them back without someone's permission.<br \/>\n50:17<br \/>\nSo, it secures a lender's money.<br \/>\n50:21<br \/>\nHe'll be more willing to lend me the money to develop the property, if I give him an easement.<br \/>\n50:27<br \/>\nSo, if I set up a corporation and I make that the easement holder, the grantee of the easement rights, and I sell an interest in the company to a money, a hard money lender, who wants to develop real estate, he'll do it.<br \/>\n50:39<br \/>\nIt's kind of like a mortgage.<br \/>\n50:42<br \/>\nBut instead, I'm using an Easement.<br \/>\n50:44<br \/>\nSo I'm gonna, I'm about to do that now. I've gotta do some things on that property. But anyways, this is my, my way of getting raising capital.<br \/>\n50:52<br \/>\nBecause I bought the property with cash but I need to get you talk. I'm sorry.<br \/>\n50:59<br \/>\nLittle about that in one of your other videos right, Selling easements attach that to another subject.<br \/>\n51:09<br \/>\nPrior. Yeah. Yeah. It's, it's, well, I mean, this is my way of using the easement. I mean, there's other, there's other ways. But I'm just saying to you, I'm also because I paid cash for the property, but that's not smart.<br \/>\n51:19<br \/>\nIt's, so I am still within my, my timeframe of getting other people's money involved in the project.<br \/>\n51:24<br \/>\nSo, I'm going to borrow my way into the property to develop it, right? It was easier for me to just to pay the money.<br \/>\n51:31<br \/>\nIt's harder for me to, I mean, because I just don't do it that way. Other people may be more proficient at this, raising money first.<br \/>\n51:40<br \/>\nThat's ideally, I mean, if you can raise money first, that's all the better.<br \/>\n51:43<br \/>\nNo.<br \/>\n51:44<br \/>\nBut, I, I kinda liked to go get the thing, then show people and say, look, I have an interest in this.<br \/>\n51:49<br \/>\nYou'll want to lend me this and we'll do this thing, or joint ventures.<br \/>\n51:55<br \/>\nYeah, so, one second.<br \/>\n51:57<br \/>\nHey, what do you need? What's going on?<br \/>\n52:03<br \/>\nYeah.<br \/>\n52:04<br \/>\nYeah, you're the boss. Bring all that stuff.<br \/>\n52:07<br \/>\nYou got it? Yeah. Bring it.<br \/>\n52:08<br \/>\nAll right.<br \/>\n52:10<br \/>\nWe're cooking a lamb tomorrow.<br \/>\n52:14<br \/>\nShe's your estimate.<br \/>\n52:17<br \/>\nI'm actually teaching her how to cook it.<br \/>\n52:20<br \/>\nOh, are you break your fast tomorrow? Yeah, yeah. Actually, I'm drinking a coffee right now, which does break the fast.<br \/>\n52:27<br \/>\nBut it's, I just want the caffeine.<br \/>\n52:30<br \/>\nSo normally, I don't have anything.<br \/>\n52:32<br \/>\nSo, but yeah.<br \/>\n52:34<br \/>\nI haven't eaten since yesterday, like four o'clock, so then it'll be almost forever for 48 hours tomorrow. But yeah, it's going to be a lamb.<br \/>\n52:45<br \/>\nNice. Yeah. Cook it for like six hours on low.<br \/>\n52:49<br \/>\nThat's going to come up. What do you do with it?<br \/>\n52:50<br \/>\nYou have any sites.<br \/>\n52:52<br \/>\nI'm probably going to have lots of fruit. I like to eat fruit and meat.<br \/>\n52:57<br \/>\nMaybe a salad, too.<br \/>\n53:00<br \/>\nYeah. Yeah, fruit I don't eat conventional things. I mean, my wife likes asparagus or something with an but I don't eat potatoes because that's a waste of space. And weight is so heavy. For what you get out of it, I'd rather have poor peaches in two bananas in three apples or big. Data was hilarious. I thought, I'd take the part where I'm actually eating and not speaking and this speeded up, real fast enough sound effects. And then I'll put on ted talk and see if it gets a lot of views. Right.<br \/>\n53:33<br \/>\nSo today, we earlier watched the video that you posted with Cody Sanchez and talked about dollar financing for Laundrymen Wash washes. But, you know, our interest and we spoke a little bit about this in the past, where Islam, laundry mats I even when now did footwork in Sarasota intent. I loved the braiding scenario you're aware of. Yet another area.<br \/>\n53:59<br \/>\nBut I went to the oh, point long. Do.<br \/>\n54:02<br \/>\nMatch asked for the manager, And I was like, you know, would you like to solve this? Are you interested in letting go of some point wrong?<br \/>\n54:10<br \/>\nFast, No. All the time.<br \/>\n54:12<br \/>\nIt was three times I did it, But, man, I feel with the economy, and that's not eventually, I don't know, correct me if I'm wrong. Like, I feel like taxes can push them out of that and they'll have to sell it. There, is that. So, it's a numbers game, and you're, it's a cold call.<br \/>\n54:29<br \/>\nYou're gonna go into someone who's not motivated, because it's not asking you to buy it, right? Which is fine. That's how you learn also. Learn how to learn how to accept.<br \/>\n54:37<br \/>\nNo, no, no, no, no, no, no, no, no, no, no, you're gonna get that, right.<br \/>\n54:42<br \/>\nNow, socially guys are used to do more of that than girls, because girls are always saying no to the guys, you know.<br \/>\n54:48<br \/>\nYou guys, you're like, OK. Yeah, but girls is a little bit different. I think when it comes to professions?<br \/>\n54:53<br \/>\nAnd business, Realize it's the same thing!<br \/>\n54:57<br \/>\nSo don't be offended. If someone says no, just move on. But yeah. Go ask them, and here's another thing you can do.<br \/>\n55:04<br \/>\nYou can have your attorney, you can have an attorney. I don't like these attorneys. When I don't know something and go to the attorney and say please help me, then you're gonna get screwed, usually. But use the attorney for what you think he is competent to help you with, like, I need you to write a letter that says the thing, by the way, I wrote the letter, I just needed to put your letterhead on there. Is that good for you? Here's $150.<br \/>\n55:24<br \/>\nThat's how I use lawyers go into the laundromat like that.<br \/>\n55:28<br \/>\nI would have the lawyer represent me as my broker or my agent and use his letterhead, and it's a very simple thing.<br \/>\n55:39<br \/>\nThere's no risk, he'll do it for 200 bucks, maybe, and send a letter to the owner, that's a little more professional, right?<br \/>\n55:47<br \/>\nThat way, here's what's going to happen.<br \/>\n55:49<br \/>\nWe're all humans, we're gonna get a letter like that, This guy is going to get a letter like this, he's going to read it.<br \/>\n55:54<br \/>\nVery short, little paragraph, You think he's going to just toss it maybe?<br \/>\n55:58<br \/>\nBut it's a letter from an attorney, and he's thinking, Hmm, hmm, Maybe I can get some money, maybe it's time to sell.<br \/>\n56:06<br \/>\nAnd He's gonna hang on to that letter.<br \/>\n56:08<br \/>\nAlways going to show his wife is going to stay there.<br \/>\n56:12<br \/>\nHe's got to think about it. But you come in there like that.<br \/>\n56:15<br \/>\nHe's, like, get out of here. You probably just here to watch them close your board. You come over here and mess with me.<br \/>\n56:19<br \/>\nAlright, you can also have a business broker do that.<br \/>\n56:24<br \/>\nYou can also take them out to lunch.<br \/>\n56:28<br \/>\nThere's all kinds of things you can do.<br \/>\n56:31<br \/>\nI don't know how you arranged that, but I mean, sometimes you just take somebody out, like, for example, a firm.<br \/>\n56:39<br \/>\nIf I'm new to an area, The first person I want to talk to is a real estate agent.<br \/>\n56:46<br \/>\nReal estate agents know, everybody.<br \/>\n56:49<br \/>\nI'd go into the office of Remax, I start talking up something, and I go, Look, anybody, want a free lunch?<br \/>\n56:55<br \/>\nOr ask them, Hey, you want a free lunch? Where do you guys like to eat?<br \/>\n56:58<br \/>\nYou guys like pizza, bringing it for the office, or Take 1 or 2 of them out for lunch. You paid for it, and Just talk to them, say, Hey, who's this, who's the mayor? Who is that? You know, certain knowing people.<br \/>\n57:08<br \/>\none of my, one of the, I guess, a friend of mine, he's dead now, but a friend of mine who lived and done, Ellen, Dan Allen?<br \/>\n57:15<br \/>\nNo, like this hole in the ground.<br \/>\n57:17<br \/>\nNo, on the Rainbow River, OK?<br \/>\n57:20<br \/>\nSouth of Alcala Gainesville.<br \/>\n57:23<br \/>\nHe starts calling me when I'm in Tampa.<br \/>\n57:25<br \/>\nWay back before I was married. He's got me, Hey, John, you gotta come up here, man. You gotta get a house. I'm gonna share to buy a house. Like, like, you don't have any money for a house. He's like, Yeah.<br \/>\n57:37<br \/>\nHe's the one that got me thinking. Oh, OK. So, he showed me how to do all that.<br \/>\n57:42<br \/>\nSo anyways, I go there. He says, he's tell me a story. When he came to The Netherlands.<br \/>\n57:46<br \/>\nHe says, I came into Danelle, and I was a new guy. I was a new guy here. I didn't have anything. I was living out of my car, and he says, I just went to the main Street, literally, the main street. And I started going to all the shop owners, and I opened up I went in there, and I introduce myself as J Thomson. That was his name, I M J. Thomson, nice to meet, you, shake your hand. Or you the owner, yeah. And then he would say something like, hey, I love your shot me another. Or this, he would say something. And this, so almost everybody, he said the same thing.<br \/>\n58:12<br \/>\nHe said, well, actually, it was this one guy who was a jewelry store owner, Michael, He goes in a Michael shop, Michael, Michael answers? He goes, You and I are going to be best friends. Mike was like, what?<br \/>\n58:23<br \/>\nOK, Whatever dude, that was like within five minutes, sure enough, they were best friends. By the time I met Jay.<br \/>\n58:32<br \/>\nMichael and he were over their boat on the Rainbow River. We used to go boating speed, boating on the Rainbow River. It was a blast.<br \/>\n58:38<br \/>\nWhen a, when does he, and I first got married.<br \/>\n58:41<br \/>\nYou know? That's how it works, I'm just saying.<br \/>\n58:43<br \/>\nSo, Jay was a fantastic salesperson, and, and he didn't have any.<br \/>\n58:49<br \/>\nIf you said no to him, he would come up with another way to try to get you to say, yes. He had no problem with you saying no. It just helps the way he looked at it as it was just a way to move on with the conversation, OK? Now we do this. Now, we did this thing that we did this thing.<br \/>\n59:05<br \/>\nThe fact that you've responded to me is encouraging me to say no.<br \/>\n59:10<br \/>\nBecause it's like the fat, ugly guy in high school that asked the cheerleader out that nobody wants to ask her. Because she's too pretty, and they think that are intimidated by it, right? So he's the fat ugly guy. He has nothing to lose, and guess what, he gets to the problem with her.<br \/>\n59:22<br \/>\nYou tell me, that ain't true.<br \/>\n59:26<br \/>\nNo?<br \/>\n59:28<br \/>\nYes.<br \/>\n59:30<br \/>\nSo that gives you something to look at. But definitely read, read read there's lots of books, I would get the audiobook. There's another one, Get Audiobooks, subscribe. Like 20 bucks a month audiobooks dot com.<br \/>\n59:39<br \/>\nThere's a really nice book that you would like is called, The Millionaire Mind.<br \/>\n59:44<br \/>\nI forget the guy's name, That's the second book. I think, The millionaire mind.<br \/>\n59:49<br \/>\nAnd so what this guy did is he painstakingly interviewed about 460 millionaires to to discover what habits they each had and they shared.<br \/>\n59:59<br \/>\nNow, an example of that would be something like this, a millionaire.<br \/>\n1:00:03<br \/>\nDoesn't buy necessarily expensive flashy things because he's a millionaire. Many millionaires and we're talking about, you know, people that became millionaires in their lifetimes.<br \/>\n1:00:13<br \/>\nThey will spend, where you might spend $60 on a bargain priced dress you, a millionaire, would spend $200, not because it's $200 and he can, he can afford it.<br \/>\n1:00:25<br \/>\nIt's because, he's going to keep those shoes for the next 20 years, And every time that the soul wears out, he's going to have it resold, he's going to keep that, those leather uppers because it's high quality.<br \/>\n1:00:37<br \/>\nIt's gonna look fantastic for 20 years.<br \/>\n1:00:39<br \/>\nThat's how they buy things, So they buy high quality things.<br \/>\n1:00:42<br \/>\nThat last a long time, that's what a millionaire does. That's an example of what you're going to find out, so, so what you're gonna get from, that is an understanding of actually how real Millionaire's live and how they think.<br \/>\n1:00:53<br \/>\nAnd forget all this stuff on TV. It's nonsense! It's designed to keep you poor.<br \/>\n1:00:58<br \/>\nPeople that are flashy with their money, they're usually not rich.<br \/>\n1:01:01<br \/>\nThey just have credit, right?<br \/>\n1:01:05<br \/>\nYou probably already know that.<br \/>\n1:01:07<br \/>\nUh, were you mentioning in, your last video, says something about, you told them, Hey, don't talk about the economy, it doesn't exist. There's no economy.<br \/>\n1:01:17<br \/>\nIt's like dragons, unicorn, economy.<br \/>\n1:01:22<br \/>\nConsumer Price Index is bullshit. All of it.<br \/>\n1:01:25<br \/>\nStop, Don't watch out, You're young enough, so now you're.<br \/>\n1:01:30<br \/>\nNo.<br \/>\n1:01:31<br \/>\nWhen I, when I was your age, I always wonder, why does my parents watching, you know, Nixon This is way back in the seventies, and eighties? And why are they watching The news.<br \/>\n1:01:38<br \/>\nIt's so horrible.<br \/>\n1:01:40<br \/>\nThis murder that murder this murder. I mean, it's nothing different today.<br \/>\n1:01:44<br \/>\nNo, they're just trying to scare people and program them.<br \/>\n1:01:49<br \/>\nSo, you already know, don't watch that stuff.<br \/>\n1:01:51<br \/>\nLearn, learn, learn. Deliberately go out and find things like on Udemy. Udemy has excellent courses on any cell so that you want, I mean, the way I found out how to make this lamb.<br \/>\n1:02:01<br \/>\nEvery time I go to cook a big check roast or something, I go on YouTube and I find somebody doing it.<br \/>\n1:02:07<br \/>\nAnd I make it differently or a different way. Yeah. Yeah. So, yeah. Always learn being learning mode and working hard mode, it says, you're probably I know you're the type of person that you're just gonna, that's already going to be your mindset. Now, CBO's that's going to be your mindset. Just keep on working.<br \/>\n1:02:23<br \/>\nYou're gonna love it.<br \/>\n1:02:24<br \/>\nJust know, that's what you do when you're up till, you know, let's say up to the age of 24, whatever.<br \/>\n1:02:32<br \/>\nWork hard. It will pay dividends vastly, when you get older.<br \/>\n1:02:37<br \/>\nWhat do you have your kids doing, right now? The young ones are they still learning or? Yeah, yeah, they're doing what you're, you'll be doing.<br \/>\n1:02:43<br \/>\nThey're working hard at, developing business, investment. They're still not sure there.<br \/>\n1:02:51<br \/>\nThere, it's like the latent heat properties in water, OK? There's a lot of heat building up but ain't boiling it, right? That's where my two sons are doing my daughter.<br \/>\n1:03:00<br \/>\nNow, for girls, this is how I think about girls. OK my daughters, I tell them, hey get your skills and do the thing you want to do but don't act like a man and don't think you're going to be the breadwinner, OK.<br \/>\n1:03:09<br \/>\nGet married and be a wife and be a mom but surely enjoy your career and all this stuff, but be a mom first, right. That's why I hope for my daughters. But at the same time, I want them to learn skills. I want them to be happy and be versatile and this sort of thing. So my two sons. So I had my, my daughter Learn Chinese. I had my two. Sons are Latin first, and then French. No, they can't speak it very well, but they understand it, and if they wanted to, within a few weeks, they could be speaking French, pretty well.<br \/>\n1:03:35<br \/>\nI wanted them to have, not just the language skills, but to have this understanding of just the language skill itself, helps you better comprehend different things.<br \/>\n1:03:45<br \/>\nSo, my 17 year old, he'll be 18 in January.<br \/>\n1:03:49<br \/>\nHe is.<br \/>\n1:03:51<br \/>\nHe's got several, Ventura's, he's working on.<br \/>\n1:03:53<br \/>\nBut the thing is, the underpinning knowledge base. I rely on, I pay them to do things for my website and they help me with video editing and technical things that I don't understand.<br \/>\n1:04:03<br \/>\nAnd I want to understand, then my, my older son, who's 20 now.<br \/>\n1:04:07<br \/>\nHe's doing a similar thing, he's got several things going on, but I have him, he built me up. I should show you, we have so much. silver.<br \/>\n1:04:13<br \/>\nThey have to get rid of it, It's not, it's not paying off, and not trying to, Silver is not the best way.<br \/>\n1:04:19<br \/>\nIt's not an investment, OK, It's a way to lose less. Yeah.<br \/>\n1:04:23<br \/>\nSo, I'm finally just selling it for dollars, and I'm gonna go probably by a couple of websites. I'm looking at one right now, it's looking like it might might work out, but, So there's so much, I can't just like sell it one, Z, two Z.<br \/>\n1:04:35<br \/>\nI have to actually create a website, sell it with a shopping cart, and everything, so now, when I started, now, we have to get the prices right and everything. But once we do, we can just turn it on and we looked like a dealer will look like a coin dealer. So my thinking is as I liquidate my silver, I'll take some of that and put it back into some other type of silver. Like, I'll buy some, maybe some higher weights. Like, up by some, some 10 ounce bars I've got, you know, I've got those now.<br \/>\n1:05:00<br \/>\nBut I mean, I'll just consolidate my silver and gold holdings and keep the cash flow and keep it running. Right.<br \/>\n1:05:07<br \/>\nSo as I sell it, I come back and buy it, and so I'm making money on the premiums, and I keep that rolling right, so now I can make money on precious metals where before I wasn't.<br \/>\n1:05:17<br \/>\nRight. Nice. Yeah. So I'll show you guys what I did. So my son did that. He built that website. Then I had them build me an Instagram account so we can promote divorce in the state.<br \/>\n1:05:26<br \/>\nOh, nice.<br \/>\n1:05:28<br \/>\nYeah, So that's, we have to retool that one today.<br \/>\n1:05:32<br \/>\nSo that's what they're those guys are doing. And no, they're not making hardly any money at all right now.<br \/>\n1:05:38<br \/>\nBut there's lots of stories. My son has done all kinds of different things, since, he was like, 16, 17.<br \/>\n1:05:44<br \/>\n15, even, He even had a job at the Jujitsu studio, temporarily for like a year and a half. He was, he was making $100 a week.<br \/>\n1:05:52<br \/>\nI think it was, he was paying $100 a month to go there, but he was making $400 a month working there. Right?<br \/>\n1:06:01<br \/>\nYeah. I mean, so they find odd jobs, but they're not doing anything impressive yet, don't check back in with them for 10 years.<br \/>\n1:06:07<br \/>\nGuys don't do anything impressive for until they're in their thirties.<br \/>\n1:06:11<br \/>\nSo the past year, because you and I talked about, you know, schooling program in all this, but I did, as you said, a year ago already, I got involved an internship. So, Nice. They're not, We're learning digital marketing from a professional marketer who's been in the game for 20 years, right?<br \/>\n1:06:28<br \/>\nAnd he builds websites for mostly coffee shops, up North Chicago with Thompson, you know, know, he pays them a little bit, like, well, wait, a little heart. And my other daughter, Sarah, wish she was here, She loves doing this stuff. So she's another one minus Xi so creative up here, I mean, they understand, ..., what they can do for you. For, as a business, that's how far future. Like, in what? We need to let John all this, because you know, he's a hack and he can find things and say, Well, here's the thing. So, We want to share with you to let you know. See what your thoughts are, you know? Yeah. Let's talk more about that because I want to compare notes. So, here's here's the attitude you should probably have.<br \/>\n1:07:09<br \/>\nSo my son, a few months ago, he got this job. So he wanted to have a lawn maintenance company in Florida. You know, there are dime 12, right? You're always competing with pricier competing downward.<br \/>\n1:07:19<br \/>\nIt's like, Yeah, I would just rather buy the company.<br \/>\n1:07:22<br \/>\nSo he was going to build a company and acquire new clients.<br \/>\n1:07:26<br \/>\nSo I helped him with that a little bit, but I said, Look, you need to actually go work for a company, go, do the hard work, feel what it's like to go out in the heat, in long pants and cut the grass, you don't know until you actually do it and you're almost fainting. No. So finally, he decided to do that. So, he got himself a job, and it was the first day, and it was six o'clock.<br \/>\n1:07:44<br \/>\nIn the morning, we had a Meet at the Wawa, OK, and then he gets on the truck And they go, Anyway. So we're getting in the car for me to drive over there and says, Yeah, dad, I'm only getting $12 an hour, and I said, What?<br \/>\n1:07:55<br \/>\nWhy are you telling me that?<br \/>\n1:07:56<br \/>\nWhat do I care? What do you care about? $12 an hour because? well, it could have been 15.<br \/>\n1:08:01<br \/>\nI said, Look, you should be paying the company owner $3 an hour just to work for him.<br \/>\n1:08:07<br \/>\nYou should be paying him, because you're getting way more out of that.<br \/>\n1:08:11<br \/>\nThen he's getting out of you, because you're going to buy him later.<br \/>\n1:08:16<br \/>\nOr are you going to buy him, and you're going to buy his competitor?<br \/>\n1:08:20<br \/>\nSES, are you going to buy his supply chain, because where is he getting the most from? Oh, I already know where that is. The total dealer or down the street here?<br \/>\n1:08:29<br \/>\nSo he's like, Oh. So get your attitude right about what you're trying to do. You're not trying to make money now at 16.<br \/>\n1:08:35<br \/>\nDon't do stupid things.<br \/>\n1:08:37<br \/>\nBut just the same.<br \/>\n1:08:38<br \/>\nYou need to pay the older people, the experienced people, give them your time and allegiance to learn. You're lucky that they're gonna let you do that. Because, you know?<br \/>\n1:08:47<br \/>\nSo I switched his attitude around, he's like, oh, OK, but as it turns out, so I chop them off. I Joan Mitchell is a really good, hard work. I mean, this he will bust asks, OK.<br \/>\n1:08:59<br \/>\nAnd he's really strong, too, and he always haven't cut the grass, so he already knows how to do this stuff. He goes out there on the job.<br \/>\n1:09:06<br \/>\nHe's not there, but an hour, he's call me on the phone, Dad, Could you come pick me up at the corner, such and such?<br \/>\n1:09:11<br \/>\nBecause the boss came over and said, I wasn't, I wasn't cutting it, and he said, Let me go.<br \/>\n1:09:16<br \/>\nMmm hmm.<br \/>\n1:09:18<br \/>\nI never heard of such a thing, I think he was just using them to just scare his other employees, but whatever, I mean, he didn't have to do that, so I went and picked them up, but Micha has got thick skin.<br \/>\n1:09:31<br \/>\nHe's like, I'll just go to the next day, if, you know, the, Michel, he's already got, he's got a net worth.<br \/>\n1:09:38<br \/>\nSo, he took that money, he made that $400 a month, He put it right into silver, He has, like, six or $9000 worth of silver.<br \/>\n1:09:45<br \/>\nIn fact, he made a lot of money, because it was a short term.<br \/>\n1:09:48<br \/>\nHe made a lot of money, he's sitting on, like, $9000, I think, in silver.<br \/>\n1:09:52<br \/>\nWow. Nice.<br \/>\n1:09:55<br \/>\nSo, anyways, um, that those guys are, you know, they're getting, they're getting goin'.<br \/>\n1:10:00<br \/>\nAnd then my other two daughters.<br \/>\n1:10:03<br \/>\nThey're complaining about algebra size. So I tell him, my oldest when I said, she's 14. I said, You know what, your rights, algebra is a waste of time. And here's what I told her. I said, especially for girls, girls don't need no algebra. In fact, girls don't even really, they're not good at algebra, and then she got angry.<br \/>\n1:10:21<br \/>\nI said, Look, here's what we're going to do. And I went to the shelf, and I have all these books on my off.<br \/>\n1:10:25<br \/>\nSo I go to the shelf, and I get these books on cooking, recipes, and sewing.<br \/>\n1:10:32<br \/>\nBy the way, my mother taught me all that stuff. I know how I could do all that. OK, I can cook so, clean, all that.<br \/>\n1:10:38<br \/>\nSo, I go to them, and I say, this is what girls are supposed to be doing.<br \/>\n1:10:41<br \/>\nAnd they're like, No, dad, that's not right. We could do, we could do anything. And I said, no, no, no, no. You've already explain well enough that algebra is not for girls and then I went and I got, I have all these books on scientists and mathematicians, right? So I pulled a book at random and I found all the mathematicians. In fact, I got it right here.<br \/>\n1:10:59<br \/>\nThey're all men.<br \/>\n1:11:02<br \/>\nIt just, because at the time the book was compiled, all men did that stuff. Women had been made. They didn't have a chance, except except a couple of them, right?<br \/>\n1:11:10<br \/>\nSo I said, look, it's, it's throughout history. I'm sorry to tell you, but men always know the math And the girls always stayed home and do the sewing cooking cleaning. And then she really got angry. And my wife is like, why are you telling her? That's not right messages.<br \/>\n1:11:25<br \/>\nNow, let us do for like an hour.<br \/>\n1:11:28<br \/>\nAnd then I came back and I said, look, Amber?<br \/>\n1:11:31<br \/>\nNo, I'm just messing with you, right?<br \/>\n1:11:33<br \/>\nGirls are smart, but you gotta apply yourself. It doesn't come naturally.<br \/>\n1:11:38<br \/>\nYou have to study, like anybody else.<br \/>\n1:11:39<br \/>\nAnd then I went to the same book, and I showed her all the women that were good and they contributed, like, in fact, if it wasn't for one woman contributing to Charles Babbage, Lady Lovelace was her name.<br \/>\n1:11:51<br \/>\nWe wouldn't have the computers with the efficiency we have today because she said, Let's use the binary system and not the decimal system. So because we use the binary system in computers, we actually have computer technology that's useful.<br \/>\n1:12:03<br \/>\nIf we only went with Babbage's idea, we saw of hand crank machines.<br \/>\n1:12:07<br \/>\nSo, anyways, that's what I told my daughter, see, so, I know, I know all this stuff, but, of course, I didn't tell her that, but, That's my take on, you know, being a girl, but there's nothing wrong with that.<br \/>\n1:12:19<br \/>\nLearn, make a bunch of money, hek, be a millionaire.<br \/>\n1:12:22<br \/>\nBe a millionaire, by the time, you're 20 to 24, it's not hard.<br \/>\n1:12:26<br \/>\nIt's not magic.<br \/>\n1:12:28<br \/>\nIt's just, like, taken out the trash.<br \/>\n1:12:33<br \/>\nReally, it's just like a thing to do. You guys learn how to fill out a 1040 and by the way, don't fill out 1040 ever in your lifetime.<br \/>\n1:12:41<br \/>\nCBO, I don't know about you, man, I think you already did that.<br \/>\n1:12:44<br \/>\nMe, too. But, we're good about following government rules that we think we have to follow.<br \/>\n1:12:50<br \/>\nWell, if you're good about that, why don't you just be good about finding an asset to buy and organizing people, to help you buy it, or manage it.<br \/>\n1:13:01<br \/>\none of the things you might want to consider doing is, instead of just getting right into real estate, remember real estate, let's say makes money from rental income, right, and it's volatile.<br \/>\n1:13:10<br \/>\nSometimes you have tenants, Sometimes you don't: you try to have 100% vacant, 100% occupancy rate.<br \/>\n1:13:16<br \/>\nSometimes you have a 75% occupancy rate, it depends.<br \/>\n1:13:20<br \/>\nBut, what if I bought a property manager whose customer is people like me, that buy real estate and need a property manager because he can't always go clean? The toilets in the middle of the night, right? So, he has a property manager handle all that stuff. Why is the property manager doing that? Well, the property manager already screened out all the good contractors all the good maid services, all the good electricians plumbers. He already has the best of the best in town right.<br \/>\n1:13:43<br \/>\nHe's got the gold, gold mine, the trade secrets in that industry? Well, I want to own him, I want to own the property manager, because guess why I got that?<br \/>\n1:13:53<br \/>\nPlus, my customer, who's a real estate investor? He's gonna pay 10% of the rental income even if there's no tenant.<br \/>\n1:14:00<br \/>\nBecause that's the contract. So, I'm always going to make money, even if my customer is not making money.<br \/>\n1:14:06<br \/>\nSo I am insulated from a vacancy rate. You see.<br \/>\n1:14:10<br \/>\nPlus, I have the gold mine of all these contractors, all the suppliers in the industry. I'm the go to person for all these people.<br \/>\n1:14:19<br \/>\nNow, here's the thing, if I own a property management firm, that, let's say, makes $3.5 million a year.<br \/>\n1:14:26<br \/>\nMaybe it makes million dollars, or no, I can use the property management firm to borrow money from the bank to buy real estate?<br \/>\n1:14:36<br \/>\nOoh.<br \/>\n1:14:39<br \/>\nWhy would I buy a property management firm first?<br \/>\n1:14:42<br \/>\nI would bus my asked to find that in the next 1 or 2 years.<br \/>\n1:14:45<br \/>\nI'd figure out how to do that OK because I can use its balance sheet to borrow money without being the guarantor on the debt.<br \/>\n1:14:52<br \/>\nAnd I have all the trade secrets from all the suppliers in town and I got insulated regular cash flow.<br \/>\n1:15:05<br \/>\nThat might be something to look into.<br \/>\n1:15:09<br \/>\nIn fact, why wouldn't?<br \/>\n1:15:10<br \/>\nWhy wouldn't CBO you, and two of your neighbors, or friends, or brother or something?<br \/>\n1:15:16<br \/>\ngo do that.<br \/>\n1:15:18<br \/>\nWe should be doing that.<br \/>\n1:15:23<br \/>\nWe should be owning the town.<br \/>\n1:15:26<br \/>\nWe should be owning the town. Everybody should be owning the town. We live here.<br \/>\n1:15:31<br \/>\nIt's like, like, you know, there's 2000 people in my neighborhood.<br \/>\n1:15:34<br \/>\nEverybody can own part of the town. I can own part of the Pinera that I like going to and the 7 11, I buy my gas that, and part of the Sam's Club. Now, sometimes I have to buy the stock on the public market. But I can also by the private equity in the Panera because the guy is a partnership I Can go and you give him a $50,000 if he'll be willing to sell me part of his company.<br \/>\n1:15:55<br \/>\nWe can, we can be doing this.<br \/>\n1:15:57<br \/>\nAnd everybody you look at, should have a job and own part of the town.<br \/>\n1:16:05<br \/>\nBut, so this, they don't.<br \/>\n1:16:08<br \/>\nSo, that tells me, I have almost no competition.<br \/>\n1:16:12<br \/>\nCan you imagine you're in an environment where there's almost no competition? Because people are, they don't know.<br \/>\n1:16:18<br \/>\nThey don't think like this, and you're 16.<br \/>\n1:16:22<br \/>\nYou're not going to have competition for another 20 years.<br \/>\n1:16:25<br \/>\nIf.<br \/>\n1:16:28<br \/>\nTrue.<br \/>\n1:16:29<br \/>\nYeah.<br \/>\n1:16:31<br \/>\nYou don't have to fight anybody over investing in some private equity. Your friends in school. Don't even know what that means. They couldn't even what equity? How do you spell that?<br \/>\n1:16:39<br \/>\nLet me Google it.<br \/>\n1:16:41<br \/>\nWow.<br \/>\n1:16:43<br \/>\nYeah.<br \/>\n1:16:45<br \/>\nLook, like when you see, where's my phone? I don't have it here.<br \/>\n1:16:50<br \/>\nWhen you see this in school, I'm going to use my transmitter device. When you see your friends doing this.<br \/>\n1:16:58<br \/>\nThink of them as being owned.<br \/>\n1:17:03<br \/>\nDo you ever see that movie, the Mummy?<br \/>\n1:17:06<br \/>\nThe new when they distinct worlds, about 10 20 years ago with the mummy with Britain Brendan Frazier.<br \/>\n1:17:10<br \/>\nYeah, remember that scene with it at the end where the zombies were flooding the streets and they were they were marching in a motel.<br \/>\n1:17:20<br \/>\nHim to remember that, then we're going to grab you turn you into one of them.<br \/>\n1:17:26<br \/>\nSo so the guys that were running they're like oh my God is obviously coming from the from the tombs, they're going to turn his armies and they're all going, ... So these other guys started mimicking. the zombies.<br \/>\n1:17:39<br \/>\nThing is motet but they were zombies. They were just doing what they were doing and the zombies left him alone.<br \/>\n1:17:47<br \/>\nWhen I see people doing this all day long, I'm thinking they're one of those a mode don't be like that.<br \/>\n1:17:57<br \/>\nThese are the people that you're going to own.<br \/>\n1:18:00<br \/>\nI told my children, when they were your age and younger, I told him, you will own the millennials, I'm sorry, but understand what they are.<br \/>\n1:18:10<br \/>\nThere are whiny, baby, losers that are in their thirties that are 15 years older than you.<br \/>\n1:18:15<br \/>\nYou're gonna have to deal with them. But that's your labor force.<br \/>\n1:18:19<br \/>\nSo, just understand what you're, What you're up against, and hopefully, you're prepared for that. And same for you.<br \/>\n1:18:24<br \/>\nI don't know what the name of the demographic is, they have these days for your age period. I don't know you're.<br \/>\n1:18:31<br \/>\nYou're only 5, 6 years behind my daughter. So.<br \/>\n1:18:34<br \/>\nMillennials might be it.<br \/>\n1:18:36<br \/>\nYeah, yeah, depending on what you do. So, right now, if you deal with these sorts of things, It'll be through your dad or your mom.<br \/>\n1:18:43<br \/>\nBut eventually, it's going to be, you're going to be interacting with people that are 10 or 20 years older than you just know that. And a lot of times, they won't even have your knowledge base. Once you get, a few years down the road. They're not going to even understand what you're doing.<br \/>\n1:18:57<br \/>\nBut again, that's because they wasted their time with this.<br \/>\n1:19:01<br \/>\nI watched some people in traffic, that, they, they're doing this, they're sitting at the car behind the wheel doing this, like, why, why do I need?<br \/>\n1:19:11<br \/>\nAnd then they're scrolling like this, why? You should be watching the road. You're going to kill somebody, you gotta kill yourself.<br \/>\n1:19:19<br \/>\nThat's the people you're going to have to own.<br \/>\n1:19:23<br \/>\nThat they are your property, I'm sorry, but they want to live that way, they get owned.<br \/>\n1:19:30<br \/>\nEven the kids at the bus stop, when I leave early in the morning, they're all doing this in the morning.<br \/>\n1:19:35<br \/>\nWhat's wrong with them? What's wrong with their parents?<br \/>\n1:19:38<br \/>\nOwn him.<br \/>\n1:19:40<br \/>\nThey'll be happy, give them a job, pay him a politically acceptable amount of money, and they'll be so happy.<br \/>\n1:19:51<br \/>\nTrain them, fire them, those are my top salespeople, would tell me, John, I don't care if they do a bad job. Good job. I harm, train them and fire them.<br \/>\n1:20:01<br \/>\nI get money out of them. Go on to the next one, some of my key because they're good.<br \/>\n1:20:07<br \/>\nSo.<br \/>\n1:20:10<br \/>\nYes.<br \/>\n1:20:11<br \/>\nI mean, we could talk about some specific, but anyways, that gives you like a broad brush. I wish I had this conversation with somebody when I was 16. The only thing my grandfather told me, and my grandfather was a millionaire. My dad was a poor person, so I was kinda like Rich, Dad, Poor Dad, but my grandfather didn't spend much time with me because he was in Ohio. and he was an alcoholic, and he really only cared about himself, and I love the guy. He and I looked almost alike, were just he had a great sense of humor. He loved Looney Tunes cartoons just like I do. So I wish we had more time together but he hated my dad. So we didn't really, at one point, my dad worked for him. My grandfather owned them.<br \/>\n1:20:45<br \/>\nI didn't know that until I was older, Anyways, so my, my grandfather.<br \/>\n1:20:50<br \/>\nHe has asked me one day, so, John, what is your? You have a bank account. Yeah.<br \/>\n1:20:55<br \/>\nBecause I was 17, my mom had assigned for me at flagship bank in Tampa, and now announce Bank of America. But he, but he said, What does your bank pay you and interest? I said, What does that mean?<br \/>\n1:21:06<br \/>\nHe said, Well, if you have money in there, which I did, he said, the bank should be paying you to use your money.<br \/>\n1:21:12<br \/>\nShould be paying you interest. I didn't even know that.<br \/>\n1:21:15<br \/>\nAnd he said, well, why don't you go ask them, and then get it get more, ask them what it would take to get more money and interest from them, and I never thought about that before. So anyways, it got me thinking, OK, so it's negotiable. I can go and talk to the bank, and I did. And back then I didn't know anything. I was like, 17, or whatever. And I bought I started buying CDs because I was, I was making money on the CD.<br \/>\n1:21:36<br \/>\nI didn't realize that was stupid.<br \/>\n1:21:39<br \/>\nI, It was because my grandfather had this stupid conversation with him, but he didn't really teach me anything.<br \/>\n1:21:43<br \/>\nHe just got me thinking that I could actually control what happens to my money at the bank that I can actually, like, I don't work for the bank. The bank works for me.<br \/>\n1:21:54<br \/>\nRight?<br \/>\n1:21:55<br \/>\nBut, he was a real estate investor. He was a real estate agent. And he was an investor. And I remember, he hired my dad to maintain some of the property here in Tampa. It was in Tampa, Florida, because he lived in Ohio. And he was doing my dad a favor, and my dad was happy to make some extra money.<br \/>\n1:22:10<br \/>\nAnd so, my dad thought he was smart buy.<br \/>\n1:22:13<br \/>\nInstead of cutting the grass at the shopping malls on the medians, every week, he would just skip a week.<br \/>\n1:22:20<br \/>\nSo when, one time, my grandfather kind of knew this, and he showed up in town, and he went to one of the malls and the grass is really tall, and he calls my dad, and he says, Hey, so how's it going?<br \/>\n1:22:33<br \/>\nTake care of the boss? Yeah. Yeah, my graph this while I'm standing at one of the mall's right down the grasses of my niece.<br \/>\n1:22:41<br \/>\nSo my grandfather fired him.<br \/>\n1:22:43<br \/>\nYou know, so, anyway, so funny story.<br \/>\n1:22:47<br \/>\nYeah.<br \/>\n1:22:50<br \/>\nSo, um, like, one of the last thing I'll tell you is.<br \/>\n1:22:55<br \/>\nMy, my children were, they want to learn these things, like, say, my when, my, my son, Mitchell, he's now learning a web development, you know how to program, write the code for web, and AI is going to be a big deal. He's not really studying that right now, but web development.<br \/>\n1:23:10<br \/>\nSo I said, OK, it's great to learn web development for the sole purpose of hiring the web developer to do the project you want to do in the future.<br \/>\n1:23:18<br \/>\nDon't be the web developer, be the one that hires the web developers.<br \/>\n1:23:23<br \/>\nWow.<br \/>\n1:23:24<br \/>\nSo think like that.<br \/>\n1:23:26<br \/>\nI don't need to know engineering.<br \/>\n1:23:27<br \/>\nI just didn't know who to call to hire them.<br \/>\n1:23:30<br \/>\nBecause what I'm gonna do is, when I hire the engineer, I'm actually, he's discounting his labor so that I can sell it.<br \/>\n1:23:39<br \/>\nAnybody who's a wage earner.<br \/>\n1:23:40<br \/>\nAn employee has discounted his labor at a fixed rate, and someone else is selling it for more. It's worth more, but he can't sell it himself because he doesn't know how.<br \/>\n1:23:53<br \/>\nThat's a wage earner.<br \/>\n1:23:56<br \/>\nSo, you understand you can be a wage earner, no problem.<br \/>\n1:23:59<br \/>\nBut nothing wrong with that, just understand what you're doing.<br \/>\n1:24:02<br \/>\nYou're discounting your labor, it a pre-established fixed rate.<br \/>\n1:24:06<br \/>\nAt some point you want to be the one that hires that person when I have clients that are over 45 years old, and they're complaining about their job or something like that. Or are they neither resume fixed. I'm like, why are you trying to get another job like you were 20?<br \/>\n1:24:19<br \/>\nYou're the one that needs to be hiring the people looking for a job.<br \/>\n1:24:22<br \/>\nYou need to be the employer.<br \/>\n1:24:24<br \/>\nYou're old enough now 455055 go buy that laundromat or whatever go by the empty space and make it into a laundromat?<br \/>\n1:24:36<br \/>\nYeah, whatever.<br \/>\n1:24:38<br \/>\nSo, always know that you don't have to have the technical knowledge.<br \/>\n1:24:41<br \/>\nYou just need to know how to hire the people that have it, and manage them.<br \/>\n1:24:46<br \/>\nThat'll save you a lot of time, and be if you can be effective. So be effective at getting things done. Don't be a really good employee.<br \/>\n1:24:55<br \/>\nI mean, you can.<br \/>\n1:24:58<br \/>\nIt's more fun to be effective.<br \/>\n1:25:06<br \/>\nHasty, but let's get together. Man, we gotta go here, raise your brother's house, and then girl some statesmen.<br \/>\n1:25:11<br \/>\nI hear he's got a gas grown Yeah, so sweating comes over here, why? I Had a friend or yeah, Oh, Jose Jose was over here. We met him and I was like, look with your case and you know, I'm saying so they showed each other's papers on her phone where there was like, Oh, yeah, I still in any of that.<br \/>\n1:25:32<br \/>\nSo they got to talk to each other, and I was going to show you.<br \/>\n1:25:35<br \/>\nAll right.<br \/>\n1:25:36<br \/>\nWell, I gotta show you what I did for Jose, because he got the money back.<br \/>\n1:25:44<br \/>\nOh, yeah, he didn't tell me that. We gotta stop paying automatic, just do a stop payment.<br \/>\n1:25:49<br \/>\nNo drama.<br \/>\n1:25:51<br \/>\nYeah, so I got the money back, And so, just the same, I sent the demand letter to the law firm, and I said, Give them money back, even though we already got it back.<br \/>\n1:25:59<br \/>\nI said, First of all, you didn't do your due diligence. You're required by the rules of ethics to determine whether or not your potential client has standing to sue. She does not.<br \/>\n1:26:08<br \/>\nAnd she does not have standing to take stolen funds and pay for your services, to further pillage the family trust.<br \/>\n1:26:17<br \/>\nThat's what I put in the letter.<br \/>\n1:26:19<br \/>\nI'm sure they're not used to hearing that.<br \/>\n1:26:21<br \/>\nNo.<br \/>\n1:26:22<br \/>\nWe did why we receive stolen property, when?<br \/>\n1:26:26<br \/>\nYeah, yeah, because there's a purpose for the trust funds. She's the beneficiary of it. And when it when it's used for outside the purpose, without the knowledge of the trustee, the father, the husband.<br \/>\n1:26:38<br \/>\nBad news.<br \/>\n1:26:40<br \/>\nSo, yeah, that's good.<br \/>\n1:26:42<br \/>\nGet until there are times, then, I said, I said, send the money back immediately in the same way you received it.<br \/>\n1:26:49<br \/>\nAnd I said, I also want any other information you collected for my wife. I want any financial data, any biographical data. I want it returned immediately.<br \/>\n1:26:59<br \/>\nNice.<br \/>\n1:27:01<br \/>\nSo it was a one page letter?<br \/>\n1:27:04<br \/>\nYeah, let's see what they do, so I got that one going out, and I think, who has it? I have another client, I've got a list of them now.<br \/>\n1:27:10<br \/>\nSome people, you know, some people you don't know.<br \/>\n1:27:13<br \/>\nBut I wanna get them in that subscription, and then also get a retainer out of them, if they need the casework, which they're going to, and I have people now that I've trained to do that work. These are the people that did the ADA cases for me.<br \/>\n1:27:27<br \/>\nSo, now they're going to do these cases in others.<br \/>\n1:27:31<br \/>\nSo digital, OK, yeah. I guess. And we're also using the AI to do most of the legal work, if you can imagine that.<br \/>\n1:27:40<br \/>\nSo instead of hiring a lawyer, or a paralegal, we just have the AI software do it.<br \/>\n1:27:45<br \/>\nIt's right on legal briefs.<br \/>\n1:27:50<br \/>\nMy daughter was saved by two, OK, Nice, talk with you. All right, I hope that helps, keep you busy for a while.<br \/>\n1:27:59<br \/>\nYeah, I can see the top of your head only, I can see here.<br \/>\n1:28:05<br \/>\nMentioned any new video, The AI has been a really Yeah, yeah.<br \/>\n1:28:11<br \/>\nSo what's happening is, so these lawyers are going up against 100 years of expert legal, professors' type, no legal briefs, they don't even know it.<br \/>\n1:28:27<br \/>\nMan, we're gonna, we're gonna we're going to dismantle the Family Court, but it's going to take awhile It's gonna take a few years and we'll probably make a few million dollars doing it Well, I'm hoping to man. I am still excited.<br \/>\n1:28:38<br \/>\nI can see this no, come on to fruition. I'm going to start I mean, it's I noticed word of mouth is like the best my brother's already. Tell her Mother's Jose. Like, man, I don't know, this guy can help, but Because they're Well. Yeah, of construction. All these guys are basically going through the same stuff. And I'm like, well, some of my way. Yeah. Yeah it's an unfortunate But Check out my Instagram. I think it's called Divorcing the State. I'll send you the link for sure on Telegram.<br \/>\n1:29:06<br \/>\nBut let me see if I can, let's see here.<br \/>\n1:29:11<br \/>\nAnyways, I'll give you the link.<br \/>\n1:29:13<br \/>\nI mean, I'm gonna go, I'm gonna go take a break. I've got one more call to do.<br \/>\n1:29:17<br \/>\nSo I hope that helps. That was fun. Talking to your daughter.<br \/>\n1:29:20<br \/>\nYes. Thank you very much. Appreciate you, my friend.<br \/>\n1:29:22<br \/>\nYeah, OK. All right.<\/p>\n        <\/div>\r\n    <\/div>\r\n\r\n    \r\n<\/div><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2081050 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2081050\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-e35681b\" data-id=\"e35681b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ba4bf99 elementor-widget elementor-widget-spacer\" data-id=\"ba4bf99\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-d5231ff elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d5231ff\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-442d000\" data-id=\"442d000\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0828745 elementor-widget elementor-widget-text-editor\" data-id=\"0828745\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><strong>Executive Summary:<\/strong><\/p><p style=\"padding-left: 40px;\">In &#8220;U113 \u2013 Discussion with a Young Investor: Navigating Passive Income and Asset Management,&#8221; John Jay provides insights and advice on various aspects of financial growth and management, specifically targeting a younger audience interested in investing and wealth accumulation. The transcript opens with a discussion about the potential of affiliate marketing as a form of passive income. Jay endorses this approach, emphasizing the importance of sales skills and the ability to build a network, referred to as a &#8220;downline.&#8221;<\/p><p style=\"padding-left: 40px;\">Jay also touches on practical matters like the non-requirement of an LLC for starting out, controversially suggesting against filing tax returns. He recounts his experience in setting up corporate accounts and urges young investors to remain open to learning and trying new things, even in the face of potential exploitation by larger entities like Amazon.<\/p><p style=\"padding-left: 40px;\">A significant part of the conversation focuses on real estate investment strategies, notably using options contracts to control property titles without immediate financial outlay. Jay explains complex financial concepts like the time value of money, the Rule of 72, and the significance of understanding net present value. He stresses the importance of using debt intelligently to acquire assets and build a portfolio.<\/p><p style=\"padding-left: 40px;\">In discussing personal finance, Jay advocates for a mindset of investing in high-quality, long-lasting items and being cautious with spending. He also shares his experience with precious metals and private crypto exchanges, highlighting the value of networking and leveraging personal contacts in various industries.<\/p><p style=\"padding-left: 40px;\">Jay&#8217;s advice extends to family and personal life, where he shares his approach to educating his children about finance and investing. He concludes by emphasizing the importance of thinking strategically, like hiring experts rather than being one, and underscores the value of gathering knowledge from various sources.<\/p><p><strong>Key Points:<\/strong><\/p><p style=\"padding-left: 40px;\">1. Affiliate marketing is a viable form of passive income, with success hinging on sales skills and network building.<br \/>2. Initial business ventures may not require the formation of an LLC.<br \/>3. Advocates for a controversial approach to tax filing.<br \/>4. Emphasizes the value of being open to learning and trying new ventures, including with large platforms like Amazon.<br \/>5. Discusses real estate investment strategies using options contracts for property control without immediate financial outlays.<br \/>6. Explains financial concepts like the time value of money, the Rule of 72, and net present value.<br \/>7. Advises using debt strategically to acquire and build a portfolio of assets.<br \/>8. Encourages investing in high-quality, durable goods for long-term financial savings.<br \/>9. Highlights the importance of networking and leveraging contacts in various industries for investment opportunities.<br \/>10. Stresses the importance of strategic thinking in business and personal finance, including educating children about these concepts.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>U113 &#8211; Discussion with a Young Investor<\/p>\n","protected":false},"author":131,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[124],"tags":[],"_links":{"self":[{"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts\/27215"}],"collection":[{"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/users\/131"}],"replies":[{"embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/comments?post=27215"}],"version-history":[{"count":5,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts\/27215\/revisions"}],"predecessor-version":[{"id":27220,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts\/27215\/revisions\/27220"}],"wp:attachment":[{"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/media?parent=27215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/categories?post=27215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/tags?post=27215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}