Michael Berry
Weekdays 5:00-7:00pm
Main Office:  (512) 327-9595
On-Air:  (512) 643-LIVE (5483)
Feedback Line:  (512) 329-KJCE (5523)
| More
KJCE 1370AM>Audio on Demand>>Lifestyles Unlimited Real Estate Investor, 8/14/16

Lifestyles Unlimited Real Estate Investor, 8/14/16

Aug 14, 2016|

Related Audio:

+

Automatically Generated Transcript (may not be 100% accurate)

Welcome to the lifestyles unlimited real estate investor radio show. The real estate investment pro. Listen and learn how to use realistic to build wealth and passive income streams were you when your family. We'll bring you experts every day to discuss and answer your questions on everything from single family homes all the way up to 600 plus unit apartment complexes. And now the lifestyles unlimited real estate investor radio show. Radio show on your coach Steve Davis where is always. We're talking about your. Financial freedom your financial independence. And we talked about it because it is a necessity. It is not an auction. And many people when I say that. Are a bit new listeners are taken aback because they. They are not really thought about it they warn him of course. But they never really sat down and made it paid gold. When in reality. It has to be one of your goals because. If you. Think deeply about retirement which very few people do. You've got to be financially independent to be able to do that. And that's all about cash flow it's about having income that comes in and whether you're working or not. Otherwise you've got to keep working as the statistics show by age 6595%. Of Americans are either dead. 36 for senator. Fans. The balance of the money 5%. Failed to retire by age 65 for the good news is that the statistics. It explains. What the 5% that do retire before. Sixty. Or at 65. Are doing 70% of them own businesses and realistic so guess what you better do their own business and real stake. Can we have to you have to understand what these business use. A business is not self employment. It's it's not. So many of you think you own a business. You are a plumber you're an attorney you're dentist or doctor roofer. Whatever. But here's how you define the difference between self employment in the business. You only own a business. If you can disappear for a year and make the same amount of money as if you were there. So I think deeply about. Continue. Disappear for a year and make the same amount of money. As if you were there. Him for most people that think thing on the business they're going to know. If if I disappear. Sales go down. The business goes out of business in most cases. So that's just self employment. There's nothing wrong with self employment that's the independent stage of life. There's dependant. When you just have a job. There's independent when you own your job or yourself employed but then there's inter dependence. Which is where you own a business. And that's the ultimate goal and that has to be your goal. Now here's the good news. Do you know as soon as you set that goal and start working towards it. You will achieve it. This is no one ever told you have that golden thing. Did anyone in high school ever told you to be financially independent. No did anyone in college tell you. To be financially independent no see that's not what formal education is designed for. I'm borrowing this from Jim Rome are over age here and more Jim Rome served fifteen years ago and it was of course it by Andrew Carnegie. Over a hundred years. Fargo. Is that formal education is there to give you a job. And it does a really good job of that. That's what it's for if you if your highest level of education was high school. It is least. Prepared you with mass and communication skills so that you can get a good job. But if you take it to the next self and go in get a degree from the university. Then you get an even better job as a rule and so you're going islands and worked for me. But as a rule it does do that for you in your master's degree do you mean better higher paying jobs coaching. So formal education is very good at getting you. Into. Well really you're always an independent stage you're born and independent stage. And then what most people lose your job and your switch their dependency. Before they were dependent on their parents now they're dependent upon corporations and that's still the dependant stage of life. Then. Through. What's called self education. You're able to move to. The independent stage which is a self employment stage. And it really is dependent. On you self educated. Because. They're colleges are not there they're not designed. To make you independent they're designed to make you dependant or keep you dependant Russian side. So. Write that down. That. Your goal is to be able to disappear for a year and make the same amount of money as if you were there. End the easiest way to do that Israel's side. I'm. Sorry this just comes off as a huge sales pitch but it's the truth it has low barriers to entry. Anybody can do it do you realize that the government. Set. A loan program for you about ten houses. Scoffing met. They said it so that you can buy your home in nine rental houses. All on Fannie Mae loans and Fannie Mae loans or the best loom as you can guess they've got the lowest interest rates the best terms. How there. In your allowed ten of us. I mean you in the government that. Want you to be financially independent as far as that sounds. So what I wanna talk about today are two things that hold people back. From ever achieving financial independence. And the two things I'm going to be discussing the part ego. And delusion. It's a very sensitive subject I get. But it's it's got to be discussed. Because it's so many of us are deluding ourselves. Into thinking. There what we're doing is going to get us where we wanna be financial. If you don't believe or doesn't make sense. To think about this. How many of you. Have worked long periods of time in five years ten years some of you twenty plus years. 405060. Hours a week. We'll think about that five years straight. 405060. Hours a week. And you're still not functioning independent. It's ludicrous. There's not personally know. That's financially independent. That worked much longer than that to become financially independent you know we've had that bad in our print and on the radio for 26. Years. It has always stated retire in five years four love us. If you go to the Better Business Bureau and look up complaints on lifestyles and limited. There's no complaints about that advertisement. None. Because it's true. People are doing and all the time there's many of you. That could retire in the next six to twelve months. You just have your money in the wrong places. I talked to a lady who has two million dollars. She's. Still working I think she was 66. Still working. Has two million dollars in the bank. But doesn't feel like she can quit her job because her fame lead lives very long per family histories 8480. Knowing. And she goes well funded on the two million dollars up my twenty years. That's a 100000 dollars a year minus taxes because she's shown in our race issues shows is taxes on the so that's from about seventy renew your. In her expenses. Are higher than now. Her expenses are higher than that. So she realizes that she would have to take more. Than a 100000 dollars out of the IRA every year just to survive. Let alone thrive in in Georgia her retirement years. So she's going I can't we're sorry to keep working. So. I talked to her and links I had a call me genome in the latter called me to answer her questions were too complex for female. She called me and I said. Could you live off of 200000 dollars a year just almost certainly was certainly that give me plenty of money to travel does to bring kids. Can do what I want to wish my life. I should do you realize that's just 10% rate of return on two million dollars. Just but I can't get to 10% greater return. Assists are you kidding me you've been listening in my show. We're getting that rate of return and hide your. You can go out and buy yourself just go pay cash for 2100000. Dollar homes. If you now she wouldn't do that I don't know what your saying. Paul Steve we don't pay cash for homes I agree I'm missing worst case and are the lowest you so Vermont. She can go about Tony single family homes and make 20000 dollars a month. After principal interest what you have no principal and interest after taxes and insurance maintenance and management. You probably know about a thousand dollars house. So. And let's not go down let's say is 151000 dollars a month 120000 dollars a month. There's a 180000. Dollars tax free because most of that will be sheltered by depreciation. She is now Huckabee flew off that easily assume world to take you about six hours a month. To run twenty houses. So you can see that's not a business that's still the self employment stage. But. Do you see her she just has her money in the wrong place. And because of she feels pork. When how many of you if you had two million dollars you provide some real estate right now. But she just didn't Cranston mayor she does she's taken the Buick last week until next month. She's gonna come out of that today closing remarks over an apartment complex like guarantee. All right we'll talk more after the break. This is like cells unlimited hosting history. Lifestyle some limited is the real estate investor education and mentoring group that is taking people by the hand and taught them how to invest in real estate for over 24 years our students have been so successful in creating wealth and passing thing come that they won local state and national investor in the year awards nine of the last nine years it's easy to see my personal real estate investor magazine named as the best in the US if you're ready to add real estate to your portfolio go to lifestyles unlimited Austin dot com to access our free live training events scheduled. Wondering who the free workshop is for we did amazingly successful with people who are pressed for time. Doctors lawyers small business owners and corporate professionals. Who are grinding their lives away for deferred income and don't realize they can start creating passive income today. Within that confines of their schedules and commitment. Want to get started now go to my passive income workshop dot com that's my passive income workshop dot com. I within the first month we were beginning to see results here's doctor Christopher Brennan got the awesome thing institute talking about the benefits of Smart reached digital if you want to help with the marketing strategy to try to increase awareness of your services. You need a good strategy in that situation I think the company likes Marguerite she's able to excuse all of those very effectively and make it happen for you with a very little stress. Find out how Smart reach digital can help market your business even better take your next step towards success business Smart reach digital dot com today are you business owner looking to reach more than 90% of the population between there did you know that more people get their news and information from radio than any other form of media then why not take advantage of the amazing location where advertiser meat audience. Advertisement talk thirteen seventy you're talking thirteen Cindy we're ready to offer solutions to secure advertising and marketing needs listener you see your business to our great listeners concert pop at five point 23296233. And find out why talk thirteen seven it's the right choice for you and it's time once in 3296233. Take control of your money's start by listening to that Dave Ramsey show. You know are all I get used to say the problem with hitting your goals is not what you're willing to do that future goals. Promulgated also projecting. You'll lose weight you give up conclude its source west on the treadmill and I get out of that insult yourself. It'll work for not spend so much you're nodding congress without him it's that Dave Ramsey show weekday afternoons or Lawrence Small talk third. Change seventy. The Sean Hannity show. But those of you that have been sitting on the fans never trumpet you think you've got this security thing down in northern real conservatives and the rest of us have sold our soul for the double. I'm sorry Allstate trump Supreme Court nominees Paul takes trouble recognizing radical Islam all take trouble eliminating obamacare. I'll take trump building the wall I'll take trumpeting energy independence to get those things alone where better offers a country's final and long shot. Cash on Hannity weekdays at full hour on talk thirteen seventy. And. The 34 annual slots skis but Ryan is happening Sunday September 25 at the domain. It's the longest running five K in Austin and all proceeds benefit JD RF in the fight against type one diabetes. There's fun for kids and parents to bring the whole family out to the domain on Sunday September 20 the the 34 annual slash he's done runs in the lace up your running season gets her unmarried men and sign up today and stunned runner dot com. Yeah. Keep up with the latest breaking news. In Austin and around the world take a moment to make sure you're following us on Twitter at top thirteen 78. Just one more way to stay connected with the top thirteen seven. Get breaking news exclusive contests and more delivered right here and I I like knowing things joined the right choice club the top thirteen seventy dot com and Lillian enough just go to talk thirteen MD dot com and click on the right choice club from top thirteen seven these right choice. All welcome back to. Large cells unlimited real estate mr. radio show me on the phone lines of remember you don't have to worry about the subject and I'm talking about. You call me with your questions what do you need to know to get out there and start building some wealth and some passive income for you endorsing him. Because we've all got to do it one way or the other. I'm just suggesting the rules it's a very easy way to do it most of our members have full time jobs they have families so Tom is not an excuse. He is just a matter of getting out there and doing it but you need to know how. And that's why I'm here for if you got a question about. Do you with tenants you got a question about locating the deal was your question about the marketplace. What about the crash when about this what are what ever. You just can you call 8777115211. 8777115211. You're also welcome to email me anytime 24 hours a day seven days a week. It's ask Steve. That pill you. I NC dot com mission short for lifestyles are limited incorporated. And ask Steve that they know you I NC dot com. Well let's go venture into something that is dreary dangerous. But can also be a very powerful tool for you if you control it and it's ego. Steve. Here's the problem with the ego the way that most people use and I mean probably 99%. Well we'll say 95%. Because that's a statistic for how many people retire can't retire right 65. The the warning views that your ego does not here if you get out of life what you want. Your ego. Simply wants to appear to other people. As if you've gotten out of life what you want. This is why many of you have found 101000 dollar Rolex is on. You 3000 dollars each in your closet and you drive a 506070000. Dollar BMW jaguar. The end you live in a 300000. Dollar plus home. But if you lost your job tomorrow. You can no longer afford to pay the rent on them borrowed lifestyle. You've traded financial success. For the appearance. Of financial success. That is ego based living in his most dangerous form. OK but said the phone lines 8777115211. 8777115211. Let's go to San Antonio and don't talk to Mike. My thanks a lot for calling him how are you today. Monica are you there I am here. Yes it's no. I don't want you know how. Dare garbage on the radio and a all I'm actually doing pretty good number real estate market Dario matched several all blacks are alienate blacks couldn't. But I'm content and now I'm on these loans and department borrowing peace love it. And so hard you know you can collateral we're building things like that so can you talk well you know does financing. Tom you might have already done that but. You know I. Not unless you know I'd be happy to let me ask you a couple questions my on those four flexes. Art medium and paid off or do you have mortgages on all of them. I'm Mike inflections paid off and I want to take. Jell O worldwide. While black girl asked about third and another one I know but house everyone's probably pull. Now like 9080% I know I was that age. Okay. Nice well done. The financing you shouldn't have any problems we have to be honest with you might just just a matter of getting with the right banks. When I hear people tell me they're having trouble getting financing is because they're going to the big banks wells Fargo Bank of America and places like that. When those guys are really not equipped. To work with an investor they claim they are. But they're not investor friendly like the local smaller banks so which ranks have you been dealing well. Problem one all the local credit to level up they take two really good care of me but. You know I just every debt ceiling as far as you dream you know well my other buildings as collateral. And I if I want to try to borrow another 300000. Tomorrow I don't know where you know they would find that they didn't bat. Well it should be off the property. Itself few should be if you're buying. A million dollars worth of properties. Found it should self collateralized. The end of course it comes with its own ability to play in you've been at this for more than two years right. Are. So you've got tax returns to prove your income. You this is what I would do combing and we got to go to break do you mind holding on to about three minutes and I'll give you some suggestions on the other side of the break. Oh. Hello please thank you much. All right this is the lifestyles a limited real state mr. radio show called me at 8777115211. 87771152. Love and thanks for listening. Long time lifestyles member Curtis. Do you see a real choice for me looking back. Is helping others and I wouldn't be able to have done it without the support of lifestyle ladies can't please thank you enough still for that's. If nobody asked people if they could vote on the top ten guys. That help other people you'd be one of them for no doubt about it do you have. This road map of coldly success stories on this one I'm just. One person out of left thousands fantastic success stories that each and every person can learn from that's my life. Take Curtis Strange advice coming felt like minded successful investors who are helping others just like dale helped him. Attend the workshop getting your map safely and quickly build wealth and passive income so you never have to worry about working till you drop losing your job or retiring in poverty. Call 18669718970. Or go to lifestyles unlimited Austin dot com that's lifestyles and limited Austin dot com to register for the workshop or change your life. In 2008. The bear market why got twelve years of stock market gains in just seventeen months. This time will you know when to protect your gains and get out of this is Jim Moret most of the money matters radio show inviting you to our next free seminar juice 1 PM or 7 PM Tuesday August 30 hotel grand duke if you're retired retiring soon don't miss this event. Reserve fed money matters dot net debt to money matters dot net or call 809940302. Also sign up for free financial portfolio review that money matters dot nets. Looking for contest rules very tough thirteen seventy contests and promotions. You can easily find them online at our website. Just gonna talk thirteen seventy dot com slash rules. I'm Steve chastened when CBS radio news. Together with the talks thirteen seventy we bring you the latest headlines from across the country and around the world at the top of every hour. And when news breaks you'll hear it here first with the unmatched worldwide resources of CBS news. Count on us to keep you informed every hour on the hour CBS radio news or only on Austin's home for talk. Talk thirteen seven. Glad that the best thing about this audience is its commitment level. Syria is no audience and I contend in their history of radio. In the history of media that has been as dedicated and has been as. Actually as this audience do you think of any other audience that his men. This self motivated. And I'm now why can't I can't just lose you know I've always been the this is that Glenn Beck. Program weekdays at eleven on top thirteen seventy. Takes off with you anywhere. On your computer or Smartphone log on to talk thirteen seventy dot com. Stay connected with top thirteen seventy. The right choice. CBS news update under water in Baton Rouge. A woman and her small dog rescued by boat. When their convertible was submerged in floodwaters more than 100 cars and trucks are stranded. On a seven mile stretch of interstate twelve WWL reporter Lauren bail. Are people and get there. I've told us that this is worse than Katrina I. Northwest of New Orleans and rain mayor chuck probe show says they had to shut off power to several neighborhoods because transformers. Are covered as soon as the water recedes they haven't checked it transformers in green pollen goes back and see if we can get power back to those homes. As quick as. Possible making matters worse the forecast which calls for more rain. Meteorologist Brendan Rubin Oster at the National Weather Service. Looks like overall the streets shoot four more inches are possible. During next call the 24 hour contract we have here either far right along our western Louisiana coast which is certain in New England this morning. CBS news update I'm Deborah Rodriguez. Thirteen seventy. Welcome back to the lifestyles unlimited real estate investor radio show your coach Steve Davis were on the line with mine. In San Antonio. Who's got some concerns about being able to add to his portfolio. Worries about banks not willing to loan money. To be able to leverage himself in the more property. And Mike I just don't think that's a problem you know I was thinking about words of wisdom and when I'm supposed to say to you. I just don't think it's a problem might. You're. Strong as can be you got that take place paid in full. Which I'll tell you what I would do I would go refunding and CA plex pull 80% out of it and then take that money go by another plex here. And the extra in my portfolio that way I don't think you're gonna have any problem you do need to be with the right banks. And the way to get around the right banks is to be a member of a group like lifestyles a limited. We have an officer in San Antonio and we've got five or six different banks. Well mortgage companies and they actually deal with a twenty plus banks each. And they are able to find you financing we have one guy that bought a 120. Ounces he never had trouble. I don't think you're gonna have any trouble Mike you've got a lot of credibility. They've lied that they should be Mike bending over backwards Stallone do you does that make sense. Do you know I've always felt that way for sure. Did I just what I had to do like they've got to open it up I've just been dealing with a local credit union is welcome to death but I. Baby sitter you know more out there where. Are you know down 1% down that it won't really work well you know. He had that you need a hard money lender to somebody that will loan you the money to buy at the end rehab it all in one lone. So yeah I don't like to 20% down plus repairs that ends up while limiting the number of deals you can do because it's such a big out of pocket expense. So I would learn how to do. Hard money loans to conventional loans. It's a two step process. But yet you're. I think we've got the bank should you would need to deal with four short. Apparently woke woke up on the web site I got out. He's got that. All right Mike. Are you good luck and congratulations on your success so far. Way to go I take care. Yeah. Especially you know it's got that they portrayed in full so. And I have no idea what it's worth let's assume it's 50000 unit. Facility got 400000 dollars sitting there. Sure it's performing don't get me wrong but the rate of return. On a paid in full property is usually down around eight or 10%. Where is the rate of return cash on cash. Wolf finance property. Can be 20/20 4% as much as three times as much. So that's exactly what I would do in his circumstance. Is that in the first place I go to give gifts and money. Is to refinance that doggone eight plex. In their outlook your refinancing the others that he has almost paid in full or half. He and give them up to 80%. Pull money out and go buy additional property and remember we never a real state toss. It just. Doesn't mention your rate of return are there exceptions to that rule short. And as a rule we're in his very strong strong rule. We're never paying off our real state all right phone lines are open at 87771152. You love and 87771152. You love them. Okay we're back on that discussing the ego in the dangerous. Side of it in the dangerous side of it can be summed up. But this characteristics. It's people. Who by the symbols of success. Before they behind. The success. Simply put it's the people. That bothered me MW big bottle vote played by the big house. But if you ask them what their investment income is they say. I have no investment income. And then if you ask them why not they say because I don't have any money. Now wait a minute didn't you just don't you have a BMW and a 300000 dollar home you have money. Yeah Albert you Austin and on the BMW of chemistry on the valves all Rome. C we all have money. Issues where we spend it first. And the problem with them out of control ego. Is you will try to keep up with the joneses. You watch TV. Can see how people live on TV which is totally ridiculous. What you want that lifestyle. And so what you do is you go by that lifestyle. Through loans. And some of you created in full but still you bought those things first. She had. I keeps I'd say the egos of problem but it's also the solution. And we come back I'll share with you pal bill. Jan Adams. Just I got some tips from different mentors. And helped me control. And use my ego. For productive use. All right we'll talk more after the break an 8777115211. Thanks for those. Did you know that every dollar you put into a piece of real estate makes you money five ways. Cash flow of money in your pocket each month. Equity capture the thousands of dollars you create when you have the right team and by the right property using the right man. Appreciation. Real estate doubles in value about every ten years. Equity buildup. Renters pay down your mortgage each month and finally this tax advantage we pay almost no taxes on our cash flow and capital gains. These are the five ways we make money in real estate. Which is why realistic accounts for more millionaires in the world today than any other investment vehicle you should have some real estate in your portfolio. To learn how attend one of our free workshops or call 18669718974. Or go to lifestyles unlimited Austin dot com and register for the next available workshop. That's 8669718974. Go to lifestyles unlimited Austin dot com. Here at peoples are actually compound prescriptions for dodge talks cats ruts lizards wizards toddlers smugglers canisters sisters grandma's and Grandpa's little anytime stayed hot shots Chinchilla guerrillas sea lions know the nonaligned sweet little ducks and deeds and tax cap the barest it's true we stressed at people's RX Constance favorite local full service pharmacy we can make taking medicine easy for you and the furry feathered scaly friends you love did we mention bacon flavor for you or your friends and judgment. Use those same origination. I can help them know that they got what they deserved. Why would they vote for Hillary Clinton why would any white man vote for a woman who watched them and we usually white out on you let's put a deal that would. Why would any white men vote for Democrats went all Democrats stand for one thing always. Which is called diversity which is code word for anti white and being losing wideout white and Michael Savage called post like no other. Wanted to become a part of the Savage Nation weeknight eight to eleven on talk thirteen seventy. Hi this is Jason Hawes and go senators and I'm Stevie Johnson from Chad experiment using did you hear the news a new overnight paranormal adventures on talk thirteen seventy. It's beyond reality radio Monday through Thursday nights at eleven when we talk with you about everything paranormal ghosts zombies bigfoot in the afterlife aliens you get the picture interviews your calls and discussions short chat room and FaceBook page. Beyond reality radio Monday through Thursday nights at eleven on talk thirteen seventy. Are you business owner looking to reach more than 90% of the population between there did you know that more people get their news and information from radio than any other form of media and why not take advantage of the amazing location where advertiser meets audience. Advertisement talk thirteen seventy you're talking thirteen Cindy we're ready to offer solutions to secure advertising and marketing needs listener you see your business to our previous. Listeners contact. Not at 5123296233. And find out why talk thirteen seven it's the right choice for you and it's time once in 3296233. We're healthy radio and the this is all an attempt to intimidate people from speaking out on the issues they care about because if you don't plowed down to whatever agenda happens to be in the news of the day you are responsible for helping inflame the passions and needs psychological profile of individuals who are on the edge I totally understand that's that's why they immediately went to the hate speech issue. Hate speech. Terrorist act you're healthy radio addiction starts every morning at eight Laura Ingraham show on talk thirteen seven day. Sock thirteen seventy is Austin's home for top and on air thirteen 70 AM midnight five point 58 states to an online everywhere top thirteen seventy dot com and on the CNN yeah. We're talking thirteen seventy. We know us and traffic can be added challenge. Beat the commute with KI TV time saver traffic mornings and afternoons on top thirteen seventy the right choice to. Welcome back to life styles unlimited real estate investor radio show on your host Steve Davis hormones are open and 877. So many low. 52. You 877. 7-Eleven 5211. And remember that's any question that you got don't worry about the subject uncovering. And also if you feel like you've got a dumb question for your little Sean about home use of segment. Doesn't matter whose future question opinions he answered so that you can move toward your financial goals. Hey let's go back to San Antonio now and talk to James. James thanks a lot for calling in how're you today. Of the above appreciated the call that there are you gonna Google DoubleClick to put. Whoever. Are there are several of self well this is a vote of about Bartlett. Can they then they're put well are geared up auto. I. Here about. Putter what do well. Energy probably what we're O Leo was well below what should I doubt that they're so it's great that the dark. You got it's not when he's on. Yeah well but for a moderate there. Oh for the barber shop but it was. Eric Barton just bitter that held up a charter children all of the sport. But about an auction site as early as opposed to market up probably over. Well no I still got that bugged out there that they're. At least not cart series. Well you can use some what the problem. You can use you can get it if you can get to some of that I wouldn't go above 80% though I don't like combing real state would more than 80%. Loan on it. And I prefer 75%. But you can go refining it's that it can pull out maybe. Forty to forty brilliant sunlight down. Can't take that forty dreaming about two more houses. Which is what I would probably do in that scenario. But then again you could sell list. And take the 75 green and then go by three more conventional houses meeting just your standard little. Rent property in the subdivision. As opposed to what you've got you kind of describing something a little different it's not in a subdivision in the. Our secure neighborhood it's no order at all. Are there are barred well there really yeah oh prize but it it's. Straight post cheers out. Barroso pledged about that for a while I vote what I am at a at a at the fact that that. What are realistic. They look at the collateral cash they look at your experience managing property how long did you wrongdoing. About three years. Juicy yeah you know the engines like felt well they're they're the process. Remember or a belt but they're not but does it yet but it should be. On income producing you yelled come on trillion. James I want you to do your next steal a little bit different. When you buy a piece of real stake you wanted to get alone toward the purchase price be in the rehab Paula wants. That way one month after you own it is completely rehab and it's least. Seniors cash flowing from the second month. So let's do that a little bit differently next time I forgot that I would probably sell it to get the whole 75000 dollars out. Finish the rehab did whatever you got left the subject up thousand dollars. Bingo introduced normal little neighborhoods. Where the price ranges between 12170. The end give myself three rent properties. Then you asked about not paying them off. I kind of gave the reason earlier but it's at the beginning stages of your investment. In real estate you want the highest cash on cash rate of return you can get well if you pay a 100000 dollar house office in full. After taxes and insurance and maintenance. You're gonna make a bow. And 8% rate of return on that 100000 dollars because you got the whole 100000 dollars in that one house. Whereas if you were to take that 100000 dollars standby for houses. You would probably get somewhere between twenty and 24%. Cash on cash greater return. Almost triple the rate of return. So that's why we did and never pay them off. So try to enjoy ball build your lateral. Drive their output. Well you wanna build up your cash flow. The collateral and take care of itself. Collateral and take care of itself. Thank you bill like this the equity in the property is the icing on the cake never invest. For equity. Always invest for cash flow. In the what will happen is by. The we will take your results. You don't have an hour about equity you're it's gonna pay so far it's gonna do all that but if you've always thought for cash flow you'll always win. Oh very very good effort. All right James I appreciate the phone call and take care. All right this is the lifestyles unlimited real estate investor radio show on your host Steve Davis we'll talk more after the break thanks for listening. What would happen if you didn't show up for work tomorrow. For the next couple of days for a week a couple of months a year and how long until you lose everything you workforce in a fraction of the time it took to earn. Keep this fear keeps you up at night it's time to learn the strategies we teach has lifestyles unlimited starts with a free workshop and go to my parents didn't come workshop dot com and find your true financial pieces like so many of our members already have. That's my passive income workshop dot com. I'm frank sent a penny with CBS radio news. Together withdrawal thirteen certainly we bring you the latest headlines from across the country and around the world for the top of the embryo. And when news breaks you'll hear it here first with the unmatched worldwide resources of CBS news. Count on us to keep you informed every hour on the hour. CBS news radio only on Austin's home for all talk thirteen soon. The Sean Hannity show you have one job in the next 96 days. And that is not to fall into Hillary Clinton. Should media strap. A disgusting things they gave you all about focus. If Hillary Clinton. Can convince enough voters yeah that mr. trump doesn't have the temperament for the presidency and for that he's so impulsive. Then Hillary will win this election. Cash Sean Hannity weekdays at four on talk thirteen seventy. Seven straight bowl game this season attendance of over 500008. Title field the top. Toughest division in the toughest conference in college football. Yeah we. Could safely so pretty intense searing College Station and that's just the way we like it's this he's 2016. Texas being an input. Cool this is Dave south Aggie football return Saturday September 3 on Austin tidy home. Talk thirteen Saturday presented by the pace tractors this is mum told. Explain to me why I should have confidence in the dollar relative. Some esoteric Internet monetary fiscal. The reason they have more confidence in the greenback business this note his legal tender for all debts public and crime that. And as long as people belief. Chilean and even if you disagree without this assist. Money talks with Bob Brinker Sunday nights at 90 I'm talking thirteen seventy keep up with breaking news as it happens text the word great game to 9940. Floor and will send breaking news alerts directly to your context great gains in 1990 four's zero for more domestic battery life don't text and drive one more way to stay informed from tie or insanity it's about your life. And your money it's a Dave Ramsey show I want you to go to the dog story. Don't want you devise some streamers and some confetti and red white and blue pill which you put look in your living room. And I want you to throw yourself a convention because you are the one that's going to fix your life. There won't be the Republicans at the Republican Convention and it won't be the Democrats that the Democratic Convention. Your destiny is in your hands it's that Dave Ramsey show weekday afternoons or one called talk thirteen 78. Hi this is Gordon Deal join me weekdays 4 this morning America's first news to hear the stories you'll be talking about and searching for all the days as we go beyond the headlines and above the chatter weekdays at five on talk thirteen seventy. This use those same region should. I've worked all my life which I've done since I'm six years old I leave the state of X dollars the criminal government which is already tax the money this is after tax money remember that. It's my mistake you jerk. It's my money not yours missed the Stalin I worked my whole life I've put aside X dollars. And other criminals wanna take 47 and that's a triple taxation and Michael suffered a whole host like no other. Wanted to become a part of the Savage Nation weeknight eight to eleven on talk thirteen seventy. Talk thirteen seventy. Radio show. We are in the final segment of The Today Show so if you've got a question you call me right now it's 8777115211. 8777115211. Got an email here from a guy who's got. Ten or so houses and he wants to know how to enroll in our club the first thing to do. Is go to our free introductory workshop. You can find out more about that free and drug true workshop lifestyles unlimited dot com. Lifestyles unlimited dot com or you can just call Monday. Opinions but he don't say words from the we have an office in Dallas Austin San Antonio Houston. Tom called pick their office closest you can ask about the free introductory workshop it's 866. 9456565. And given the phone number for the free workshop. Is 866945656. Then yes. In your view that own real state already should be the member of a real estate investor club I just ask that you give us a shot. Because we have been named the number one club in the united states of our personal. Real estate investor magazine. We're very effective at what we do. I am very serious about what we do so check out please. Do not be out there on your own investing in real stake you'll get slaughtered by people who are working in teams. No doubt. Today we were talking about I wanted to make sure before the end of the show I give this up do you know that your ego can be a tool. To propel you towards your goals but what you have to do is you have to control yet. Instead of having your ego attached. To the cars the houses the watches the close. Give your ego attached. To being financially independent. Future ego attached to passive income. Because when you focus and have your ego attached to achieving those things in your pride is there in your egos there. You will be driven to achieve that. And here's the fun part. When you do achieve that you get the Rolex. For BMW the Ferrari the boats the beach house. See it's really just the order in which Americans are doing things that is from ineffective. What people do is they go by all the symbols first. Then they've they're broke. And they complain they have no money they're living paycheck to paycheck. Because they bought the Torre's first. Which you've got to do was control. This disease. Called an instantaneous. Gratification. Instantaneous are worn it now. I deserve it now I'm gonna get it now. Cindy down the street got a BMW. Wanted to you know we don't approve on doing just as good as she used. It's a bunch of garbage it's all ego based. It's not the good ego gets the bad and ego. Now when your passive income does reach that point. Go and my the torch I'm not putting down the Rolex is the cars and homes. Not at all I have those toys. But they'll talk me. The income producing assets first. And monthly income producing assets pay for your towards. You still get the toys just not quite as fast. Then you don't ruin your life. It puts a lot of people have done because they win out and bought all the symbols of success. First. Instead of having success. If you wanna study this. He's a great book out there. Called the seven spiritual laws of success for the seven spiritual laws of success. I mean name Deepak Chopra Deepak Chopra. And he talks about and help people trade the territory for the map. It's just a piece of paper they've got the symbols. Of success but they don't have true success. So pick up that book and read it stands. It will build on what I've shared with you today. And in the second thing that I wanted to get you really don't have time noon. I'm just got a couple minutes is delusion. Is the man who I'll just touch someone example. I had I was sitting with a guy who was probably eighty pounds overweight. Here and they were talking about. Some think. He and his wife goes yeah Muslims are professionals. Thank you Jim sure perfectionist. Botched it want. You're a perfectionist. Really. You're eighty pounds overweight what are you trying to be perfectly round is that those goals after perfection. But what that is is is deluding yourself. In not being honest with yourself. And again I don't have much on the go into this good. I want you think about this are you deluding yourself about your financial position and where you're going to be at age 65. Almost everybody doesn't. No mention you can very cautious and don't let that happen to you. Be honest about your financial position. Evaluate yourself very clearly. And very honest. And then start making changes. All right this has been lifestyles on limited real estate investor radio show on your host Steve Davis you can email me at ask Steve and I told you how you see. Dot com thanks. For listening to the lifestyles are limited real estate investor radio shows remember that this show is for entertainment purposes only. And should not be construed as legal investing more tax advice results may very always consult a professional before making any financial decisions if you'd like to find out more about the mentoring available at lifestyles and limited please visit them online at lifestyles of unlimited dot com.

Most Recent Audio

Facebook

Twitter

1-Thing

Perks