Welcome to the lifestyles unlimited real estate investor radio show the real estate investment program. Listen and learn how to use realistic to build wealth and passive income streams where you and your family. We bring you expert Jeffrey. 600 plus unit apartment complexes. And now the lifestyles unlimited real estate investor radio show. Good morning and welcome to the life shelves unlimited real estate investor radio show on your coach Steve Davis where it's always we're talking about. Your financial freedom and quality of lifestyle. Your retirement. Com. We do so by talking about buying income producing real state this is the business model that works. And yes your life is a business it has income and expenses. And believe it or not you're supposed to run at a profit. Most people are not they are living paycheck to paycheck there in debt with credit cards they have little to no savings. And it's just that. They're thinking about life in correctly. Any effectively is probably a better word for it they're just think in effectively. What does the average person do they only know one way to make money. To make money in us to get a job. And they think that the path to wealth. Is to climb the corporate ladder that that's how you get wealthy you've got to get a super super high paying job. In order to ever get wealthy. And then they go on a path where they think they're gonna turn they're going to save up enough money to retire. And they think savings savings savings they do little about it as we know from the statistics. But that's what they're thinking. In what people try to do is they try to predict when they're gonna die which gene or do. They try to predict what their medical expenses are going to be which you can it do they try to predict what their expenses in retirement will be which you can't do. All of that is crystal ball. Sorcery. In its. It's not read. But that's what people do they try to save up a certain amount of money. In the end result is that 95%. Of Americans failed to retire by age 65. Failed to retire by age 6536%. Of that none 5% are actually dead bodies 65. And over the last couple weeks I've gotten several emails. That are just about like this from a give you two examples. One was a 56 year old god with 35000. Dollars saved up. It is tiring. And he says to me in his email I'm headed towards retirement. Turn. The other room was a guy 6263. Any at a 150000 dollars saved up and he said he's headed towards retirement. Don't want you to think about them. Are you gonna retire. If after working forty years. You only have thirty cover 150000 dollars saved up are you gonna retire. You're not you know that I know them. But listen to their verbiage for your their thoughts. I'm headed towards retirement. When they know. As well as you know nine they're not gonna retire. Let's see it's both Kyrie. Hum a belief. That retirement has something to do with the age. That magically. At age 65 and that's the most common number. The people think I'm determined. You may be thinking 7072. Or whatever but let's just use the average person think 65 is when you were tart. Retirement has nothing to do within each. If it did. Then magically at 65. A 100% of the people. In the world would retire. But it doesn't happen. See it has nothing to do with a each time no kids and I consider anybody Tony the owner under a kid. Respectfully though don't get me wrong but I know guys gals 2427. Who are retired. Why are they retire because they have enough passive income. Coming in from their real state that it meets and exceeds their wants and needs. You look at my son. He's 44. DF about 5000 dollars a month all headed in passive income. Will his builds a less than 3000 a month. Windows you have to go back to work. He doesn't in two run those eleven houses. I'm making keep track of the it's less than three hours a month that he works less than three hours a month. So if his bills are 3000 in his income is 5000 from Israel state when that you have to get a job. He doesn't know he's going to. Because. Life is just not fun without a job I know what you're saying well let's these what are you talking about. It's just not. I tried it when I was thirty I quit working I had enough income from my real state to quit working. Mean within three months I was losing my mind. You know people envision retirement. Sitting under a palm trees sipping my touch for the rest of your life really. That's your goal. It's pathetic. And he gets it makes you question why you're here you couldn't excuse me. In May issue. I don't know it just mainly feel terrible. I think. I went back to work went straight back to work full time 3040 hours a week. Because. It brings it if you're John should be should literally bring you jewel. And people are like what are you talking about I hate my job I hate working out look equipment Johnston. A pro machine. If you go out. In over the next five years you by yourself Tony we'll rent houses and you have 8000 dollars a month or in the next year you buy yourself an eight unit apartment complex. Remembering June 2000 dollars in non profit. In you quit your job. I'll bet your money you'll be back working. Bet your money I've just seen it for 27 years as a mentor Tony 2000 members across to a globe. If you think about the happy used Torrance in your life. Was it when you are doing nothing. Or. Was it when you were helping him serving other people. In your job. Remember the time. That. A Chordiant. Customer. Or someone said do you wow. You helped me tremendously. I was in trouble until you can Malone. I needed this needed that and you provided it for me thank you very much you change my life things like that. Those. Are the habeas. Most joyful times of my life. And I really believe that I I believe and I'm not sure who said this I think it was Tony Robbins but. He said. That we are hard wired. To the hope and serve other people. In that when we're happy it's when we're the most joyful. Is the peak moments. Of helping him serving other people. Now. I did it. Owning real state helps and serve other people are provide housing for 4000 painless. So that is very very rewarding. But nothing. Compares. To the number of lifestyles are limited. Walking up to me and going you changed my life. I heard you on the radio. We're joined lifestyles are limited and there have six houses Tony houses on known in two or three apartment complexes what are their situation news. And am now financially independent. I was miserable I was broke before joining us all the limited. It me. Nothing I used to get embarrassed about it home one guy Steve. The settlement came up and thanked me and I was embarrassed. In it. I didn't know how to react when he said it. End. I've learned to it to be able to accept that compliment now in response to an appropriately. But that. That's why my son's gonna get a job out. And that's why his wife has the job. They're gonna continue to add to the real estate portfolio. Because unfortunately. The way we're involved are designed to whatever. I had at the end of our life we can't work forever. There comes a point where you just. Get old socks. So you need income. And that's what this show is about is building permanent. Residual. Income. That allows you to retire at any stage. But again most of you who want the double income. Good job income. Iranians from passive income. But my one big sales pitches don't take a job. The work she more than forty hours a week and I really think that 3035 is probably enough. To keep you happy. Keep you productive. Keep you feeling good. But if you go above forty hours a week I don't like I really don't. Stay away from that is history it's been proven to not be very healthy it's hard on you. Physically it's hard on you psychologically. Hum. The end you know when I work sixty hours we almost lost my wife. No I was never there. So we did beat you he beat you up. So. As I say the us. Hopefully most of you are going OK I get it and it's impressive income. Don't want to have some passive incumbent Steve real states' difficult. It's tenants at stroll into taxes it gets worse than a job it's this that the other. And then reality is that's not true as the example I gave you about 5000 dollars a month income should take you about three to three hours a month. C. So we're gonna do for gonna break and when we come back we're gonna talk about. The best practices for doomed insurance the best practices for dealing with contractors kind of lifestyle also. 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 me. And. The lifestyles unlimited real estate investor radio show on your host Steve Davis. Phone lines are open right now without government. Good job of at least got you thinking about building these the second stream of income for yourself and your family with real say. But as I talk about it as I mentioned. Things come up like. What about tenants whereabouts bullets were about taxes what about doom and contractors what about insurance. At the end you have fears or worries or concerns you don't know how to deal with those things that's what this show is about. It's helping overcome fears overcome. Whatever is keeping you from having some real stating your portfolio come on think about it 70%. Of the millionaires in the United States are real estate related. And you don't have any. Does that even make sense than doesn't know the but if you don't have any. I guarantee you you've got some beliefs you've got some fears called me with those beliefs calmly with those fears. And let's eliminate them so you can move forward toward your goal of financial independence at any age. The loans are open at 87771152118777115211. Let's deal with one. Your first and that is the insurance fear but I have people all the time ask me this question what are your house burns thing. What if your houses apartments burned him. There must say something. And it's going to be shocking. I want my units to burn down. No do I really know to pay in the rear end but you've got to understand. That I have come out ahead. Financially. Every someone in my units is burned you know I'm never had a single thing and we burn them but I've had apartment complexes. Catch fire and Lucy eighteen units out of 800 units or something like that. But I have come out ahead. In every single time. In the simple reason for it is that you're insuring. For retail cost. But as an investor I know how to get it done at wholesale cost. So my insurance companies write me a check for the full retail value of the rehab. But I get it done at a wholesale value. He hits it's insane. But that's the way it works and that's the way it's supposed to work. But how do I make sure. In how do you make sure that you're giving every dorm from the insurance company that you deserve. Again there are specific best practices. Now what I'm talking about are. Almost catastrophic. Claims. I do not use. A private adjuster. On small claims like say a bathroom floats out wonder what it cost to replace a complete bathroom. New told new. Toilets new sinks to new fixtures. Hi all everything started on the bus. So when they come in and they give me five or 6000 dollars to replace that bathroom. Do you see how I come out ahead. I actually make money. Phone so that's. On little things you don't need a private. Adjuster. However. You're in the home in most cases. Where the whole house floods. Or the whole house catches fire or eighteen units catch fire. You always use a private a private adjuster. Every single time. Without him you know this is a rules so there are some exceptions. But I can't think of one. Let me give you an example. To win Ike hit my beach house. This is a Spanish tile roof the roof alone. 35000 dollars. You know what they offered me with the roof destroyed windows blown you're indoors blown noon. All kinds of damage to the interior of the house for the water got in. 22000 dollars. That's with the insurance adjuster offered me. Another term it was about 44. And I remember. When they told me Tony 2000 when I had already gotten contracts. In bids to do all the repair for round a 100000 dollars. I said you know. I'm 44 years old I have never been in a lawsuit. I'm in a lawsuit now. And I hung up on the left. Immediately called an attorney awful lifestyles are limited vendor list that handles insurance claims. We got a private adjuster to commune. Give me a bid for all of the repairs. Catch all the stuff that I missed. In the Guinea came up to about a hundred and I don't know 102111000. Dollars let's just say a 100000 dollars. The attorney took the insurance company to court. And got me a 125. Thousand dollars. We'll talk more about this after the break this is the lifestyles of unlimited real estate investor radio show. Phone lines are open at 8777115211. 8777115211. Thanks for most. Long time lifestyles member. Curtis Payne. The real joy for me looking back. Is helping others and I wouldn't be able has done it without the support of lifestyle ladies can't please thank you enough Dilfer that's. If you were to ask people if they could vote on the top ten guys. That help other people you'd be one of the bears no doubt about it and. It's road map both Coleman success stories on this 100. One person out of luck thousands fantastic success stories that each and every person can learn from that's my life. Hey Curtis Painter advice come meet don't like minded successful investors who are helping others just like dale helped him. Attend a workshop getting your math. Safely and quickly build wealth and passive income so you never have to worry about working till you drop losing your job corps retiring in poverty. Call 18669718970. Or go to lifestyles and limited Austin dot com that's lifestyles unlimited Austin dot com to register for the workshop or change your life. A. Welcome back. Satellites also limited real estate investor radio show over the phone want to open for your questions 8777115211. You've got a question about it's it's the right time for you. Maybe you're concerned about your present financial position and weather again it's the right time. I give you call 8777115211. Let's go to San Antonio and don't talk to Dorian Bryant thank you so much for calling and how are you today. And hello Diane. Yeah. I guess how are you look good thank you could help. Yeah I don't know I didn't think Jay yesterday you're out until May be due to. Harry. Is talk it out. Buying property and signal the room don't you children should be better off our apartment complex. Yeah it's. Okay well on oh. Chin acres. And there's been more or normal home and I don't it out of high. Learned that got me to thinking could I get artists dealing with the mirrors in the moment her own. And you're thinking that maybe I would be better off to delta air property and then. And Talladega is here and can that guy is pretty bored thousand dollars and our pre cleared and that's a I can barely carry a recent. Oh I'm sorry I'll speak up maybe that'll help I guess. Okay. Well I think you're right Diane. How much is that property worth if you sold it. The property value that doppler 300 billion about a 1181000. But that doesn't include the not to come they don't tell me I'm. Are your your talk about the tax assessed value. And yeah it's going to be worth more than that. I thought both probably a lot more than that especially when you have in the the income Enceladus a business. Because if you saw a little bit as a business at a capped rate of 10%. That's 480000. Dollars at its worst economy somewhere between somewhere between. They're I don't know where. Yes oh yes. Putting that into. An apartment complex where you get appreciation. And you get equity build up you've got. You know the improvements. It speech just a different ball game. The rate of return on me apartment complex. Can be as high as a 100%. The first two years in today's market. If they don't market our rate of return is actually much much higher can be 200 plus percent rate of return for the first couple years. So if you're asking me if I agree with you which I think you are I do agree with you I would liquidate. I put it into an apartment complex. There easier to run the Klein tells a little more at least effective. Paying hit. And just being the you know them the mobile home to answer our challenge in many cases. Salmonella have been doing it for ten years. Yeah up so I would do that but the first thing I would do Diane. Before you sell that property would be to take a class like ours on our apartment complex investing. Because you can do a thing called at 1031. Hit in exchange are you familiar with out. No I'm not. What it means he is let's say that you paid 50000 dollars for that place and you sell it for 250000. Dollars. You have a taxable gain of 200000. Dollars. If you go buy an apartment complex with that 200000 dollars you don't have to pay the taxes on the. Right I realize it is this year after reinvest I've had other business my ability greenbacks back into the and it was actually an error. But I thought here at home while. OK so good your basis will be whatever it was worth at that time I believe. I really like little in my joints your life. I don't unlimited how much that they are in the art can help you that the situation is bad. Are absolutely. Yes it's what you did is its 500 dollars to enroll. And you get a one year membership with the there's a two day class that won't give you the bay that will teach you the basics. And you'll literally. It's a Saturday and Sunday and I'm not kidding you when you come out Monday you're ready to buy an apartment complex. What's your read various I'm here I'm I've gotten so good at renting houses earth I have and one half. I thought about how often that I would not you could tell right just yet but I'm. I've gotten so good at rating how their people don't even have to go winner determined army battled I'm accomplish. That yes. Unlike some very good salesman. And I okay and I can just plenty of free workshop and end up from there is that correct. Yeah that's advisable go to the free workshops first make sure that your clear of what's in that you'd say class if you like it join up then. All right OK okay thank you die and Paula you're welcome you're welcome about. Okay Dave in Dallas I see you wanna hold we have to go to break the brakes are only about four minutes and I'll give you the moment we come back. Here on the lifestyles unlimited real estate investor radio show phone lines are open at 877. 7-Eleven 52 love it thanks for most. Did you know that every dollar you put into a piece of real estate makes you money five ways. Cash flow 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 build up 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. Go to lifestyles unlimited Austin dot com and register for the next available workshop. That's 8669718974. Go to lifestyles unlimited Austin dot com. We'll like salsa unlimited real estate investor radio show phone lines are open at 8777115211. 8777115211. Let's go straight to the phone lines from earlier in Dallas Texas and don't talk today. Dave thanks a lot for calling and how are you today. Great Irish didn't actually take in my collection to think too much closure to help. So the question does this come coronary that this sudden I would now accumulated twenty properties. Thomas and found more single family homes. On my day job as a physician. Com definitely break here forty hour week cool calm and I think China gets a part time on the supply and 210. Or is there ever any instances where you would have advocated. To calm people just going all cash purchase and then getting out getting a mortgage. Never. Yeah that's an easy answer we never pay off our real estate. The only extreme without that I seemed to that rule was a guy. Armor and older gentleman. An end he was very legacy based. In other words every investment he made he had plans on giving it to his children in this grandchildren. The end so for some reason he just thought they couldn't handle debt. So he paid everything off. They and he did very he was very come very effective investor. But what he could have done is sold all those properties. Bought a couple of apartment complexes and he had enough money to buy several to 300 unit apartment complexes. He could've. Pass those on with the management company with on site manage room with maintenance people. In other words say that the children would have had to do nothing but run the business itself I wouldn't of worked in the business. So that's how I look at legacy for my children a little bit differently than he did. And then the other reason we don't do it Davis because the rate of return. On a paid in full property is hovers right around 8%. On a finding its property it hovers around 20% more than double the cash or cash rate of return. In the there's many other reasons we don't pay them off as well but. I like course or use half. Of rhetoric orbiter question. How much equity do you have in these 22 ounces. Yeah whatever. And I don't know I don't I don't. Wow. See you're really European single same way too long in this decision with respect. Because your rock and roll and you're doing well. But I would have moved to multifamily. Two apartments for a long time ago. The rate of return on those things are so much harder than single seemly. I'm Dave we're literally doubling or money about every two years. Hello yeah I just I just got into this boom in two years ago I had a good amount that we need to start way to. Honestly we single family homes arm and I started. You know try to leverage them but getting getting these thirty year fixed mortgage is used to use. And it's it's a process and it's it's not a yes fine especially and that's pretty time consuming. New one every company in business have ever been and you know. Don't be too it basically everything and down. Yeah but I I have started getting into some multi units so I had to multi units would commercial loans. Armed twenty of them organizations. But the balloons. Show and five years bomb. Both these. Both these properties are going to be either Donald or refinance impose American beef. Two and claw and I'm in I believe I'm sure. Most people believe that day interest rates are gonna be a bit higher in five years. Songs. Q do you act at what point I mean lockdown right now after the first five years it says. Three and three quarters and the other wonderful perhaps. On its your job. Yeah I'm in the so I think that's that's pretty solid good at some point on the NAFTA look. If I don't wanna pay a lot solemn. And obviously your. Mind sit dead in mixed doesn't make any sinister. To to carry out the the balance. They're remaining principal and just to continue to leverage in as much as possible. Amman and after refinance them at some point but then. At what point. You know it's it's kind of a waiting game to see where interest rates go I don't want yeah yeah and on I'm a good race I have now by refinancing too early but I don't wanna wait Q it. You know I always start I just have a rule days. On the one year prior to the balloon. Fabio in the process if he gets done in three months so be it to take six months so be it. But I always give myself twelve month stay demon holding on for about a four minute break Kimmel talks more. Hold on please. All right this is the lifestyles unlimited real estate investor radio show you might call me an 8777115211. 8777115211. Thanks for listening. What would happen if you didn't you look 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. If this fear keeps you up at night it's time to learn the strategies we teach as lifestyles unlimited starts with a free workshop. Go to might pass it 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. Welcome back to blood cells unlimited real estate investor radio show remember you can always find us online at lifestyles unlimited dot com. And there's information there about my mentors radio show his name is still long slink. If you have a list of that show. That the two shows go really well together we're both different personalities were saying basically the same things but you just hear from a different point of view. So check that out out lifestyles unlimited dot com if you got a question for me right now phone lines are open. Oh this final segment singing you call now it's 87771152118777115211. Let's get back on the month. With day who is a tremendous amount of equity in some single family houses and a couple of multi unit. When you say multi units what are those are those duplex dessert course and on and. These are her home located in there are. Fourteen out of fourteen. RU unit. Two bedroom fourteen times two bedrooms and then I have a twelve and it turns to veterans go to okay why not college towns. Mostly learned just shoot mission. Gotcha yeah that's what I started off with much personal apartment was ten units. And then a Tony to unit the forty unit and so on so. That's really good. They're the only thing I would suggest Dave is one of the working. Oh my favorite story is a dentist. Who came to us and said get me out of ministry I miss seeing my kids grow up wobble block. Well he bought enough real state to quit and he did just what he went right back to three months later at a dinner history. And I said why are you doing that and he goes because I am of them list that's what I love he said I do thirty. 3035. Hours a week not 6070 hours a week so there's a way there's ways to wean yourself off of those long hours and I think he even added a couple of dentist whose practice is part of the way that he he leveraged themselves. So you may need to look to do the same thing. Com yeah I want managing people is actually what I'm trying to get away from Iraq the root. Yeah. I've done that serve for awhile and that's cannot manage its unprofitable militants. If that's taken a toll on me. I thank you so much for your time I really appreciate it you've given me a lot to think about. All right Dave thank you so much for holding on I appreciate you take care. You have. The weaning yourself off for the sixty hours a week can be difficult. Even I've seen people. Well I'll I'll give you a story one time I did a lot of them. And I did the radio show live in front of a group of people in the sky in the front row start freaking out. There and you know we're on the radio so I can ask him what he tree care about. Somebody starts talking to the guy next to him in the lady on the other side here and I'm like curious though. What god I'm so excited in what all I was talking about. Was. That I have added by age thirty I had enough real state to quit working. Well when the break came I had to go ask him when he got so excited about because Steve. I have like fifteen for flexes. I make enough money off those fifteen foreplay exes to pay all my bills. But I'm working sixty hours a week at a job I hate. It wasn't until I listen to you on the radio that I even considered. Quitting my job. Yet I was able to. He had been able to quit his job for years. But he didn't he didn't even think that was an option. It was so ingrained in his mind that he had to have a job. That when you heard me say yes you're gonna precedent from you quit your job. He did he quit his job the next day. They and took good and later on he took another job but it was forty hours a week or so. So now that's a radical move. But some of you that may be what you need to do build up enough passive income and quit that sixty hour week job. They go get yourself a forty hour week job. Other people I've seen go in and just tell the boss hey if you wanna keep me you got to move me back to forty hours. And sometimes the boss will you know if your volume most of your more valuable that's your job than you think. Most of you have. I must say this and bear with me this is so with respect but when it comes to your evaluate your company you have low sulfur stick. You don't realize. That the company will. Make exceptions for you they will do what they came to keep you you're more valuable than you think. Okay pullen broke in just a couple more minutes 87771152118777115211. So we're back to the insurance discussion. And I really got all the basics out there anytime you have a claim. You want to get a private adjuster now if you're listening to the showing you're already a member of lifestyles aluminum they are on the vendor list. Yes with the private adjuster you don't get satisfaction. Didn't hit an attorney. Guess who pays the attorneys' fees. Insurance coming to us. Because they're supposed to have taken to hear review up front if you have to get an attorney they become responsible for those that's why I was able to get a 125000. That was in my rehab of the beach else. Plus the attorney since. Okay this has been the lifestyles unlimited real estate investor radio show and your host Steve Davis room with a my email was opened to huge 44 hours a day seven days a week. It's ask Steve that kill you RNC dot com ask Steve that the old URNC. Dot com thanks for those who never. Greatness and then thanks for listening to the lifestyles are limited real estate investor radio shows remember that this show is for entertainment purposes only. I should not be construed as legal investing more Texans night's 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 unlimited. Please visit them online at lifestyles unlimited dot com.