In this episode of the Fresh Fit Podcast, the guys talk about the future of the podcast and how it's going to evolve in the future. They also talk about how they plan on going forward and what they have in store for 2020 and beyond. We hope you guys enjoy this episode and share it with a friend or become a supporter of the show! If you like what you hear, please HIT SUBSCRIBE so you can get notified when we upload a new episode! Subscribe to the FreshFit Podcast and stay up to date with what's going on in the world of fitness, entrepreneurship, and financial freedom. We appreciate your support and look forward to seeing you on the next episode. Have a great rest of the week! Cheers, EJ & Chris - The FreshFit Team Check us out over at FreshFit.co/TheFreshFitPODCAST! We are live on Rumble.co.nz/The_FreshFitTeam and we are giving you guys a chance to win tickets to Frank Castle's upcoming live show. Don't miss it! Thanks for supporting the show, Frank Castle is a great guy and we'll see you soon! - EJ and Chris talk all things fitness, money, and life! EJ is going to be back! Thank you for supporting The Freshfit Podcast. - Chris and EJ - Cheers! Check out The Fresh Fit Team! Chris & EJ - The Chris Bum Podcast and Frank Castle . Thanks to EJ! (The Fresh Fitcast Podcast! The Freshcast Podcast, Ej & Ej and Ej is a big thank you for coming to The Money Monday Podcast! EJ has a great podcast and we hope you enjoy the show and we're going to keep giving you all the best of what you get to hear from EJ's Money Monday! and we will see you guys out on the Money Monday podcast! CHECK OUT on Rumble Podcast! CHEERS! "Money Monday Podcast" CHEE CHEEZEBOW! CHEEY CHEEEEEEEK! , EJ BABY BUM BUM CHEEEEK , CHEEEK CHEEEEEEEK, CHEEEEEKY, CHEEECK OUT THE MONEY MODE, CHOOT CHEEKE CHEEEKEY!
00:01:00.000You guys know the Money Monday episodes is where you guys get a lot of the value on these types of shows.
00:01:06.000We help you guys with becoming an entrepreneur, making money, getting your savings on point, and basically just creating wealth to some degree, man.
00:01:22.000Our goal isn't necessarily to make y'all multi-multi-millionaires unless that's the goal for you guys, but the goal is to definitely get you guys to a point where you can do what you want to do and you are not tied down through finances.
00:01:32.000So real quick, let me hit some of these chats.
00:02:10.000Every Saturday, we're pretty much dropping an Andrew Tate video because, as you all know, YouTube is lame.
00:02:15.000Yeah, YouTube is lame, and dude, we actually got a strike for putting up tape videos, or one of our old tape videos, they hit us with a strike, which is kind of funny to me, because other channels, like, that's how I know that we're shadowbent.
00:02:28.000When we put up an Andrew Tate video, not only does it get less views, but it also gets taken down sometimes with strikes, which is crazy.
00:03:09.000Follow us on Rumble as well, because if anything happens, man, God forbid, you guys will know where we are.
00:03:13.000Rumble is probably the last bastion of free speech, man.
00:03:16.000I'm trying to tell y'all, man, because YouTube is getting worse and worse and worse when it comes to being able to say what you want to say, create content, you know.
00:03:25.000Realistically speaking, if you look at the guidelines, anything can constitute as harassment and bullying or hate speech or whatever.
00:04:21.000This nigga want to interject and talk during the show with the girls, and then when it's a regular show like this, he don't got nothing to say, man.
00:04:26.000Because I'm tired of hearing the voices, you know, that made no damn sense.
00:04:29.000And when I hear no sense, I'm just like, what the fuck are you girls saying right now?
00:06:48.000They were able to connect the guy that they caught a couple days ago To a dude named Rex Heuerman, who is basically an architect that was working in midtown Manhattan as an architect firm, but he lives in Long Island.
00:06:59.000And yeah, they connected him to three of the murders, so they think he's probably linked to the others as well.
00:07:05.000And yeah, we talked about the case, how they identified him.
00:07:07.000It was pretty interesting, because he's one of the...
00:07:11.000Because he was killing since, like, they had bodies found since, like, 1996.
00:07:15.000So, basically, a modern serial killer was found thanks to how they find him, DNA, and a bunch of other shit.
00:07:20.000Is that common for someone to get away for that long?
00:07:48.000He wanted to fap at the crime scene and leave some DNA, and then 30, 40 years later, they take that DNA, compared it, put it into the ancestry, and they were able to find relatives that had uploaded their DNA, and they were able to trace it back to that guy.
00:08:19.000Yeah, and then we also have it on Spotify, guys, if you guys want to listen to the audio version of FedReacts.
00:08:24.000And then go get my book, Why Women Deserve Less, man.
00:08:25.000Let's go ahead and get that thing up because some lame feminist TikToker dude who's a pussy made a book saying why women deserve more, some crap like that, and...
00:09:52.000Sheed goes, you do realize the U.S. government assassinated MLK because he was pushing for reparations for FBA. Black Americans do deserve reparations.
00:09:59.000It was originally supposed to be given to each slave after the Civil War.
00:11:02.000We're going to do an episode on travel credit cards and the Capital One Venture will definitely be on that list.
00:11:07.000Do average income earning men deserve a relationship?
00:11:10.000Well, look, man, you don't deserve anything.
00:11:12.000But what I will say is that your likelihood of getting the relationship that you want on your terms is going to go down if you're an average income individual.
00:11:22.000What's the average income in the United States?
00:11:23.000Somewhere between $37,000 to $50,000 per year.
00:11:29.000Most women are not going to respect that and or think that they should submit to you when you make that kind of money, unfortunately, because a lot of women make that amount of money.
00:11:35.000And I would say you don't get what you deserve.
00:12:13.000It is very, very difficult for the average man to get the best out of a woman in modern day age because most women truly do believe that they're better than you guys.
00:12:24.000I really want you guys to get this through your head.
00:12:26.000I know I sound like a broken record, but once you guys understand that the average girl thinks that she's better than you and deserves better than you, it's going to make you realize, damn, I need to be superior to these chicks to even get anything out of them that's worthwhile.
00:13:50.000I mean, cooking, you know, there's always, like, that's And here's the thing.
00:13:53.000That's a very good and clean niche because everyone will rock with you if you're cooking because everyone likes food.
00:13:58.000And you'll be able to build a very big audience.
00:14:01.000But you got to be able to diversify yourself to some degree when you're going to get into that niche.
00:14:06.000I think the healthy angle versus eating at a restaurant will maybe get you some more of a niche audience because everyone eats out nowadays.
00:14:14.000Healthier options you could cook at home.
00:17:26.000You're down there in Southern Connecticut.
00:17:27.000I would stay away from Central Connecticut unless you're getting, like, really good returns.
00:17:30.000But you're not going to get as good of appreciation if you invest in Central Connecticut, like New Britain, Hartford, etc.
00:17:35.000Like, you'll be able to get it for a better price.
00:17:37.000You'll be able to get good cash on cash returns.
00:17:38.000However, your appreciation is going to be as strong because the further away you are from New York, the less likely your property is going to appreciate because Central Connecticut sucks.
00:19:07.000It depends on what your tolerance is and your handyman level.
00:19:09.000If you have more money, I would say try to go ahead and get what I call a turnkey, which is a turnkey property as you buy and it's pretty much ready to go.
00:19:16.000If you don't have as much capital, then you're going to have to buy a fixer-upper.
00:19:20.000Personally, me, man, I'm at a point where I don't want to deal with those headaches because a fixer-upper, you're going to buy it, then you got to put work into it.
00:19:25.000Then you have to have it ready for people to move in.
00:19:27.000That's going to take a couple of months.
00:19:30.000So it really depends on your tolerance level and how much capital you have.
00:19:33.000I always say I think it's personally better to just buy a turnkey and buy the property pretty much ready to go, put tenants in, and start cash flowing immediately.
00:19:42.000Versus you buy it at a lower price, you got to deal with vacancy for a bit, you're still probably paying a mortgage to some degree, and it's not making you money.
00:19:49.000But you're able to get at a better price.
00:19:50.000So it really comes down to where you are, guys.
00:19:54.000A lot of FNF supporters are not from the States.
00:19:56.000I hope some of these avenues to earn are not American-centered.
00:20:29.000And then also, I'm going to be also working with David Amari on the YouTube automation.
00:20:36.000I'm going to start a channel with him, and I'm also going to make that open to y'all and show you guys the revenue.
00:20:40.000Obviously, I'm not going to show y'all the channel because you can't.
00:20:42.000You never want to show the channel for obvious reasons, but I will show you guys the analytics page so that we can show you guys how much we're making, etc.
00:20:50.000Read Why, The Last Man, and What If No More Men.
00:20:55.000Go watch that episode on YouTube Automation, guys.
00:20:57.000There's actually very important reasons why you shouldn't disclose your YouTube channel because people go in and watch it and just copy your shit and fuck your watch time up and all this other shit.
00:21:06.000But we'll talk about that when Dave Omari comes back and I show you on my channel.
00:21:10.000When I have it up, I'll let you all know.
00:21:12.000Sound of Freedom is a film about child trafficking, real story of a federal agent saving children.
00:21:40.000So most of you nowadays want to make money, be successful, and have a leg in this race because there's a race going on right now between the rich and the poor.
00:21:49.000But ultimately, in this race, you can make good choices or bad choices.
00:21:53.000So we made five topics today to cover, to kind of tell you guys what to do in this sense.
00:21:58.000Alright, so number five, counting down from five is, avoid major financial mistakes.
00:22:03.000So guys, for the most part, if you're out here in the world, you're going to make mistakes.
00:22:07.000Of course, in dating, buying stuff, you know, advertisers entice you with obviously ads online, and you buy things you don't really need for the most part.
00:22:16.000However, if you can avoid major mistakes, for example, getting to major debt, or having a kid too early, or even avoid DUIs and other things like that, you can kind of set yourself on a good path.
00:22:27.000And for the most part, people nowadays, they just do whatever they feel like.
00:23:07.000So imagine your whole setup is taking care of this kid with time and money, and that goes towards all your effort into that, versus putting it into yourself, becoming a better man, investing in assets, or even putting education into yourself with courses or learning from a mentor.
00:23:23.000That whole process itself, having a kid, bro, could deter you from a long path of success.
00:23:27.000And I don't think it's possible, but why adapt yourself with a kid, bro?
00:23:31.000Look, I have a dog, bro, and I'll tell you this right now, bro, he will stress.
00:23:44.000You want to buy a nice car, nice crib.
00:23:46.000And it's fun, it's exciting, but if you're not going to be financially stable to actually maintain these things, you're going to end up hurting yourself because it's called opportunity costs.
00:23:54.000When you spend money on assets, for example, that are not going to pay you or actually give you any benefit or ROI, you buy a house or you buy a car, you're actually losing money because the money you spend on that actual expense every month or every day Could go towards your future or, for example, investing in an asset.
00:24:34.000They say, hey, listen, man, if I could go back in time, I would change one thing.
00:24:38.000And that is dating and chasing girls nonstop.
00:24:42.000Because I'm telling you this right now.
00:24:44.000Every person that I know that is successful took a period of time where they say, you know what, I'm going to slow down on girls or stop completely, focus on myself and my future, and then when I get to this point that I'm comfortable with, I'm going to go back to the data market and focus mainly on that.
00:24:59.000And I said that to say, for the most part, if you're going to actually come into this and have financial freedom, you need a plan of action.
00:25:05.000And having a relationship with a girl can't take that away from you.
00:25:08.000Because what happens is you focus on her, you make her a priority.
00:25:11.000And I know some guys are focusing on business.
00:25:14.000They got a girlfriend and they slow down making sales.
00:25:22.000So all these things come into place to slow you down.
00:25:25.000And guys, these are mistakes that you can make to either destroy your future or slow you down.
00:25:31.000And I'm just saying this because if I knew these things back then, I'd be way further ahead, of course.
00:25:37.000But I'm telling you guys, prepare for it because it is a plan of action.
00:25:40.000And if you're not ready for it, you're going to make mistakes.
00:25:44.000So I actually wrote down some things here.
00:25:45.000And just so you guys know, for some of you guys that are joining, because I see the views are going up, we're covering five ways to make yourself financially free and things to either do and or avoid.
00:25:54.000And the first one that we're talking about right now is avoid making major financial mistakes.
00:25:58.000And I wrote down here some of the things as a subset to that, major financial mistakes.
00:26:03.000I wrote down some things that are common fuck-ups for a lot of you guys.
00:26:13.000You need money quickly without a credit check.
00:26:15.000You take one of these hard money loans, nine out of ten times it's going to be from one of them boys.
00:26:19.000They're going to give you a 20% to 30% interest rate, and they're going to basically, you're going to get a loan that you're probably never going to be able to pay off because you never had the financial security in the first place to take the loan, which is why you took the loan.
00:26:29.000Next thing you know, you take the loan and you're a slave for life, right?
00:26:39.000Co-signing a property or a car for someone else, okay?
00:26:41.000That's a big mistake that a lot of you guys do.
00:26:43.000You'll go ahead and sign for an apartment or a vehicle, and you can't get out the lease because now...
00:26:50.000You're the one that co-signed it, so you're typically looked at as responsible.
00:26:54.000So let's say you co-sign on a car for somebody, right?
00:26:56.000And it's their duty to pay for the vehicle, but let's say they miss a few months.
00:26:59.000Well, guess whose credit score is going to take a tanking?
00:27:01.000Your credit score is going to take a tanking.
00:27:03.000Theirs will too, but they clearly don't give a shit, but your credit score is going to go down.
00:27:07.000So never, ever, ever co-sign for a vehicle or a home or an apartment for somebody that you don't know unless you're prepared to pay for all of it, okay?
00:27:15.000Unless you're going to pay for all of it, don't sign for it.
00:28:00.000You're not going to be able to go ahead and put yourself in a position to earn money from a job.
00:28:04.000So it has a compounding problem that's going to continue...
00:28:09.000That's going to continue the downward trajectory for you, okay?
00:28:11.000It's a compound L because you get the DUI, you lose your car, you lose your money, you lose your ability to travel, you lose your ability to travel to a place of work to earn money.
00:28:22.000So it's going to mess you up to a whole other degree.
00:30:04.000Succumb to pressure from your family, from your wife, from your girlfriend, from your friends, your peer group, whatever it may be, colleagues.
00:30:11.000Do not succumb to pressure to have children before you're financially set.
00:30:15.000Because I'm telling y'all right now, children is going to be the number one killer of wealth if you don't have your shit together.
00:30:21.000And trust me this, you do not want to have kids.
00:30:23.000When you're broke, because you're not going to be able to give them everything that they want, everything that they need.
00:30:27.000You're not going to be able to support the girl that's with you in the relationship.
00:30:30.000The likelihood of you getting in a divorce or getting the relationship tarnished is going to go up because you're not financially secure.
00:30:35.000I'm telling you, man, there's a reason why divorces go down once you make a certain amount of money.
00:30:40.000I think that magic number where divorces start to go down is about $300,000 a year, where divorces start to drop off precipitously.
00:30:48.000So, at least, guys, if we're going to go off of stats, etc., Get to a point where you're making about 300k a year, if not more, before you have children, if you want to significantly decrease the chances of divorce and a terrible life.
00:31:01.000So make more money and do not let outside influencers fuck you up.
00:31:06.000And they made fun of Rulo for this comment about vasectomy, but at the same time, that whole process of becoming successful...
00:31:13.000Like, if you can avoid the kid part, I'm telling you right now, bro, you'll be way further ahead.
00:31:25.000And then also, guys, don't do dumb shit with your money.
00:31:28.000For example, some of you might own a home and have a home equity line of credit out and you're using it to pay for vacations and stupid shit.
00:31:33.000If you're going to go and get a homemaker line of credit or anything else like that, because I've seen people do this, you need to use that money to invest.
00:31:39.000You don't use that money to pay for liabilities, guys, okay?
00:31:42.000One of the dumbest things you can do, I see people do that all the time, they take a HELOC out to take a vacation or purchase things that they otherwise never would have been able to afford.
00:31:51.000And yeah, those are just some big ones.
00:31:55.000We're talking about five ways to make yourself financially free.
00:31:58.000We're on number one, which is avoid making major financial mistakes.
00:32:01.000A couple of these mistakes that you guys commonly make are taking hard money loans or high interest, co-signing a property or a car for another individual that might not be as responsible as yourself, getting into trouble with the law, whether it's a DUI or some other criminal charge that's going to cost you thousands upon thousands of dollars to deal with, having kids at a young age before you're financially set and secure,
00:32:18.000succumbing to societal pressure, doing that stupid shit, getting into credit card debt.
00:32:22.000Another big one, guys, getting into huge credit card debt.
00:32:25.000And purchasing things that you can't afford to impress people that you don't care about anyway.
00:32:29.000And then using a home equity line of credit or some other line of credit to go ahead and pay for things like a vacation or extravagant trips or whatever the hell it is that you otherwise couldn't afford.
00:33:14.000Most of you spend money for how you feel, for joy, for example, just to have fun, which I understand, but that should not be all of your spending in this case.
00:33:22.000So, what should you invest in to make cash flow?
00:33:54.000So I went online, on YouTube, looked it up.
00:33:56.000I saw a bunch of videos, Grim Steffen, BiggerPockets, and I saw, okay, this is an avenue for me to make money on the go while I'm working my job, right?
00:34:06.000And I would just say this all for it, but guys, I stayed up for a year and a half to buy my first property, and I worked overtime like a maniac.
00:34:35.000Ultimately, that one investment I made for the property helped me make money at the same time.
00:34:40.000Can you explain to them what cash flows real quick?
00:34:42.000Yeah, so cash flow is basically a term, for example, making money, right, continually from an asset, which means you put money into this asset, and it's going to pay you continually for a period of time or forever from that one asset.
00:34:55.000It's the money left over after you pay all your bills.
00:34:57.000So basically, let's say his mortgage was $1,000, right?
00:35:17.000It's whatever's left over after all bills are handled.
00:35:19.000So before I bought anything crazy, I bought the property first.
00:35:22.000Now, I made a mistake I'm going to cover later on in these points here, but the main point is I got it down-packed.
00:35:29.000Number two is going to be either stocks, dividends, or for example, any type of online investing.
00:35:35.000So, I don't know if you want to use Webull or use Robinhood or whatever it may be.
00:35:39.000Find one you can use that's a good interface that you're cool with and learn how to use it correctly.
00:35:45.000And obviously speaking, find a mentor in that space that knows what to invest in or not to invest in because the biggest thing I see guys do is say, you know what?
00:35:58.000But you need to do research because, once again, there's so many things online you can invest in, but you need to know what you're getting to invest in all the way.
00:36:04.000Because if you don't know what you're investing into long-term or short-term, you can lose money instantly or in the long run.
00:36:10.000So my thing is, like, find a mentor in that space that knows what he's doing, learn from him, and then make a conscious choice to do it for yourself when you're ready.
00:36:17.000And then number three I would say for investing is, invest in yourself, man.
00:36:21.000I feel like most people, they worry about investing in other assets before they invest in themselves.
00:36:28.000Focus on yourself at the very beginning, guys, because your skills you learn yourself, for example, if you're good at e-commerce, you're good at marketing, you're good at sales, it's going to help you make a massive amount of money.
00:36:40.000With that money, you can invest into assets, like I said earlier.
00:36:42.000So that's my point there for number four.
00:36:56.000The guy that's in second place is way behind real estate.
00:36:59.000And there's four main reasons why real estate is the king when it comes to asset classes and investing, especially when it comes to creating cash flow.
00:37:58.000If I want to buy a home, right, and I want to live in it for a year, I could put up to 3.5% to 5% down of my own money to purchase the home.
00:38:05.000So in other words, let's say the house is $100,000, easy math here, right?
00:38:07.000All the homes are way more expensive than that.
00:38:09.000But for easy math, you're putting down 3.5% to $5,000 plus closing costs.
00:38:13.000So all in, guys, you're paying less than $10,000 to acquire an asset that's worth $100,000.
00:38:18.000Well, the reason why it's important, guys, is because you put a small fraction down, and then the bank gives you the rest of the money to purchase the home.
00:38:23.000Let me tell you how important this is, okay?
00:40:01.000House prices skyrocketed, interest rates were down, and everyone is able to go ahead if they were smart and purchase a home.
00:40:08.000If you bought a house in 2020, I guarantee you, especially if you're in a market like Florida or even New York or any of these expensive places, Texas, especially Austin, Texas, San Antonio, Dallas, Houston, etc., you'll probably experience a significant increase in appreciation where your house went up somewhere between $20,000 to $100,000.
00:40:28.000I'll give you guys a little dirty secret.
00:40:29.000Now, all the homes, remember, as you guys know, in 2021, I bought seven homes.
00:40:33.000All the houses that I bought in Florida, guys, back in 2021, are up now over $100,000 fucking dollars.
00:41:43.000We talk about this in more detail on other episodes of Real Estate, but I got a secret for y'all.
00:41:49.000Steve is gonna come in on Monday, next Monday, and we're gonna talk about taxes, saving money, and we're gonna talk about this in way more detail for you guys and give y'all a refresher on S-Corps, LLCs, et cetera, next Monday.
00:42:00.000So I'll wait until then to give you guys the details, but the point I'm trying to make here is you get enormous tax benefits with real estate, okay?
00:42:07.000So the four main things about real estate, why it's the best asset class.
00:42:10.000Number one, you're able to use debt to acquire it.
00:42:13.000Once you use that debt to acquire it, you're able to enjoy appreciation of that property going up.
00:42:17.000Real estate, guys, almost always goes up in value over time, okay?
00:42:21.000Five to ten years, it's going to go up regardless of what happens.
00:42:24.000Even if the market crashes, it's going to correct and it's going to come back up.
00:42:27.000Next, it makes you money while you hold on to it, okay?
00:42:29.000If you're not an idiot, you did your numbers correctly and used cash on cash returns, like I tell you guys all the time, the house is going to make you money.
00:42:34.000Then, lastly, you're going to get tax benefits in the form of two things.
00:42:38.000Either A, depreciation, or B, cost segregation.
00:42:41.000To show you guys how powerful real estate is, I use this example all the time.
00:42:45.000I'll tell you guys one more time for you guys that are new here.
00:42:47.000When I was an agent in the government making about $120,000 per year, I paid about $40,000 in taxes.
00:42:56.000Because I was single, didn't have any kids, didn't have any assets, so they're gonna kill me.
00:43:00.000I am the prime target, right, for taxes, for Uncle Sam, whenever you make a certain amount of money and you don't have assets to your name, you don't have children, right?
00:43:08.000Now that I'm making like 10x that, right?
00:43:11.000Doing this, an entrepreneur, and also being a real estate investor, especially the real estate investor, I paid about 36k in taxes last year for 2022, guys.
00:43:20.000So I paid less taxes as a multimillionaire than I did as a working class citizen making 100k per year.
00:44:38.000It's went up significantly and it's making him money.
00:44:39.000And I will say as well, just to add to your point.
00:44:42.000So, when you buy a house, guys, if you're smart about it, and I wasn't smart at the very beginning, I just wanted to get a house, you're going to have some money in reserves because things are going to go wrong with the property.
00:45:00.000So to kind of, you know, combat that, you want to have money in reserves so that if things go wrong, you can fix it.
00:45:05.000My dumbass didn't think about it because I wanted to have the property, but I didn't think about reserves because obviously things were wrong.
00:45:12.000So I'm telling you guys you can make that, you know, correction.
00:45:15.000Obviously have money for the down payment, the closing, the property, but have money for reserves just in case things go wrong.
00:45:38.000We got about 5,000 plus y'all over there on Rumble.
00:45:41.000And we got over 5,000 of y'all over here on YouTube.
00:45:44.000So I talked about real estate being number one.
00:45:46.000The next asset classes, guys, that you can invest in as well that I think that you should be invested in are obviously the stock market, you know, whether it's individual stocks, the whole of the game.
00:45:54.000I'm talking more along like index funds, okay?
00:45:59.000Cryptocurrency, precious metals, and then if you want, you know, a high interest savings account, which as you guys know, I talked to y'all about my Merrill Lynch stuff that I got going on with a preferred deposit.
00:46:11.000But yo, you're getting a 4%, a 4.76% interest rate right now.
00:46:15.000And the Fed is going to continue to raise interest rates.
00:46:17.000So I want y'all to be guys in a position where no matter what happens with the market, you're able to profit.
00:46:22.000For example, As y'all know, the interest rates are going up right now, so finding deals in the real estate market a little bit higher because a third-year fixed interest rate right now as an investor is somewhere between 7% and 8%.
00:46:31.000It's hard to get cash flow with interest rates that high.
00:46:33.000However, since I know the interest rates are going up, on this side of the coin, I'm investing and putting my money into a high-interest savings account that's going to benefit from the Fed increasing rates.
00:46:43.000So I don't want y'all to ever be a victim of the market.
00:46:45.000I want you guys to monopolize the market.
00:46:47.000So no matter what happens, you have what I call...
00:46:51.000A diversified portfolio where nothing can fuck you up.
00:46:55.000I have to slow down on the real estate investing.
00:46:58.000However, I'm making money over here with my high interest savings account.
00:47:01.000Or if crypto starts bumping up, bam, I got cryptocurrency over here.
00:47:04.000But if cryptocurrency goes down, it's okay.
00:47:06.000I got precious metals and I got real estate.
00:47:08.000I want you guys to have every single asset class in your repertoire so no matter what happens in the market, You're going to be safe.
00:47:14.000Don't be like these guys that have 50% of your goddamn wealth in cryptocurrency and next thing you know, Ethereum is down to $1,000 and you're thinking about jumping off a fucking balcony like people have done here in Miami.
00:47:27.000Own a home here, own some cryptocurrency here, have some Ethereum, have some Bitcoin, have some precious metals, have some of your money put into a high-interest savings account.
00:47:35.000They'll make money for you, so if the Fed increases the rates, you'll be fine.
00:47:38.000I want you guys to be diversified so that no matter what happens, you're okay.
00:47:41.000And then on top of that, Make sure you have six months to a year of cash money that you have access to, whether it's in a safe or it's in a bank account like a Bank of America or Chase or whatever it may be.
00:47:53.000You need liquid money as well, guys, that you could deploy anytime.
00:48:31.000But the point is, I want y'all to have that same bravado and that same confidence in yourself that you can do what you want to do and people can't control you.
00:48:38.000The point, guys, is I want you to control your finances so other people can't control you.
00:48:42.000But when you don't have your finances in control, other people control you.
00:49:10.000Sorry, death penalty benefits, which means if you die before you wish a certain maturity amount on this policy, it can pay your family for years to come.
00:49:21.000So, I would say look into IUL that works for you.
00:49:25.000And guys, don't go in a club and spend money on a bottle.
00:49:27.000Look at insurance policy that you actually can afford.
00:49:31.000I'm telling you guys, if you die, or God forbid you die, or for example, you live for a long period of time and it matures, you get money from just putting money in debt.
00:49:56.000I know that was long-winded, but I wanted to let y'all know the importance of having cash flow assets.
00:50:00.000Because remember, the other thing I want to tell y'all is that the other assets I mentioned, cryptocurrency, et cetera, that's not cash flow, guys.
00:50:24.000If you borrow against your insurance life policy, you can actually get it either tax-free or with a very low interest rate, which is very powerful because let's say you want to buy a property, you can borrow against your actual life insurance policy if you do the right one, and you just have to get a property.
00:50:40.000And we talked about this in more detail with Chris Krohn.
00:51:11.000We got here, Rashad Morris goes, guys, from this point forward, like I said, we're reading 20 and up, but every single child will be shown on screen.
00:51:54.000For example, if you need help with insurance, if you need help with a doctor, you need help with a lawyer, you need help with someone that's good at marketing, making videos.
00:52:02.000So, find out your mission statement for yourself and your company, and then make sure everyone in your company or group knows what that vision is.
00:52:09.000And as a leader, you have to actually be the guy that's doing what you say.
00:52:29.000You don't want to just be a boss because then when you're a boss, people are like, I don't really fucking like this guy.
00:52:33.000This is just a means to an end for a paycheck.
00:52:34.000But when you're a leader, people actually want to work hard for you because they see you working alongside them.
00:52:39.000As a leader, you're right next to them doing everything with them and telling them this is how we're going to do it versus just do this, you do that, blah, blah, blah.
00:52:45.000And then you go back in your office and you don't do shit.
00:52:47.000And a leader cares about his people more than himself.
00:55:30.000Yeah, Chris always has something to say when it's to girls, though.
00:55:33.000John, apologies for starting this victimhood chain reaction.
00:55:36.000That question was in response to someone on your panel saying blacks were unsuccessful because of IQ. So, with common sense, I went to a time where they were not most successful as a collective.
00:55:46.000I guess they're having a debate in the chat somewhere about that.
00:55:51.000EJ Stamps, appreciate the help you guys do for all us young men.
00:55:54.000Maren, what are some diet slash meal plans you stick to?
00:55:56.000I've lost 26 pounds of y'all because of y'all trying to keep going.
00:56:00.000P.S. What's the best side hustle right now?
00:57:31.000And I know some of you guys, right, are criticizing, saying Mo's losing weight way too slow, etc.
00:57:35.000Guys, there's a method to the madness.
00:57:37.000The reason why we're doing that is because we don't want him to, number one, have a bunch of loose skin or have a bunch of sound like or to look like crap or have all this weird stretch marks, etc.
00:57:47.000So we're doing the weight loss nice and slow.
00:57:49.000Another reason, too, is that so he can sustain it.
00:58:26.000We're going to keep bringing guests on like this that have certain disciplines and certain niches that you guys will be able to learn from make money.
00:58:58.000Have y'all heard of Benjamin Mendy, ex-soccer player who has been found not guilty of grape and attempted grape, just another man who had his career ruined due to false allegations of clown world?
00:59:55.000Okay, I'm not going to read your questions verbatim, guys, because y'all have a lot of typos on it, but the question is, question, can you pay off a credit card debt with a business credit card?
01:00:04.000Secondly, what are your thoughts on CD Bank investing?
01:00:39.000You're able to move that transfer, do the balance transfer, move that debt over, and not have to deal with interest so you can pay that money back down more aggressively without having to deal with them boys taking more money from you, if you know what I'm saying.
01:01:07.000I used Transamerica back in the day, but it's just up to you, honestly.
01:01:11.000I would just say look at the policy benefits and look at the actual company itself, how long they've been in business for, what do they stand for, and then from there...
01:01:19.000The monthly payment, what you're covered for, but bro, that's such a broad term.
01:01:22.000Home insurance, car insurance, what insurance are we talking about?
01:01:27.000Abraham goes, I'm broke and starting a new business.
01:01:29.000What do you think of social media marketing agency as a business model, basically running FB slash InstaAds to get other business customers?
01:02:25.000Dude, Airbnb is its own game and Airbnb, you can't scale to the same level as having solid tenants in there.
01:02:32.000So I would say first, start off with a solid real estate portfolio where you own the properties, you're controlling it, you have traditional tenants in there that are giving you a consistent monthly ROI back on that, right?
01:02:43.000Because you're getting the rent, you could predict the income.
01:02:45.000But the problem with Airbnb is that it goes up and down depending on the markets, depending on where you're going to buy the Airbnb property.
01:03:36.000And then here's the other thing to Airbnb that kind of sucks.
01:03:39.000To get the best Airbnb properties where you can make the most money, You're going to have to buy nice properties that are kind of lavish, right?
01:03:46.000And you buy a $2 million property, $3 million property, now you got to take a jumbo loan to get that property.
01:03:51.000Yes, you could charge more in the Airbnbs, but your money is contingent upon you getting certain types of people to go in and rent that Airbnb.
01:03:58.000And then let's say the market is down, we get another pandemic.
01:04:01.000As soon as economic turmoil comes, what's the first thing people stop doing?
01:04:05.000They stop taking vacations, they stop traveling, they stop Airbnb.
01:04:08.000That's why so many people that had Airbnb during the pandemic went fucking down.
01:04:15.000Just get consistent real estate that's going to give you a monthly predictable amount of money.
01:04:20.000And then if you want to go ahead and you have some extra money, you're a little bit more risk averse because it seems to me like, sorry, you're more risk tolerant.
01:04:26.000To me, it looks like you're risk averse because you went through some bullshit.
01:04:29.000Then you can go ahead and do the Airbnbs once you become more risk tolerant from you having less risky investments in the first place.
01:04:36.000I was going to say, also as well, think about seasons, because a lot of states have some seasons for A and B. Like Miami has certain times, for example, Art Basel is really high, but when it's like summertime, it's kind of low sometimes.
01:04:47.000Like right now, it's actually the low.
01:04:48.000It just depends on like what state you're in.
01:04:50.000So that plays a lot into like making money.
01:04:52.000So I would just say get like long term.
01:06:09.000Let's say you open up a 70% HELOC, home equity line of credit, like I said, you're going to be able to have $140,000 that you guys have access to at any time.
01:06:17.000It's basically a credit card on the equity in the home that you guys have.
01:06:21.000And then you can use that money to go purchase another house while simultaneously keeping that first house.
01:06:26.000That's why I'm a big proponent of always controlling the property, not getting rid of it, hold it long term, and you can go ahead and just do a HELOC, use that money, go buy another house versus selling the house.
01:06:34.000Then you got to pay capital gains tax on it, unless you're going to do a 1038 exchange.
01:06:38.000But nah, man, do the HELOC, carry that equity, or sorry, get that equity out, buy another house if that's your goal.
01:07:20.000So I feel for the most part, you need that drive anyway.
01:07:22.000But to get that drive and kill a mindset, bro, you have to want it as bad as you want to breathe.
01:07:26.000Because either you're going to get it out of, like, causality means, for example, you're actually in a...
01:07:31.000Benefit where, like, if you don't do it, you're going to either die or suffer, or it's to help somebody else, either a mother, your family.
01:07:38.000So I would say, bro, like, honestly speaking, either create it yourself by creating that, like, environment where either you do or die, or do it for your family.
01:07:47.000Well, I think the number one thing here is how can I get the killer mindset to stay motivated even when I don't feel like it?
01:09:33.000We're networking, we're meeting people, etc.
01:09:34.000So, you know, I mean, and you guys have seen people try to copy us and they can't really do it.
01:09:39.000You know, whether it's, you know, bring girls on the panel, talking about stuff that we're talking about, trying to be as consistent, live streaming it, etc.
01:09:45.000It's a lot of work that goes into it, man.
01:09:47.000But we're going to keep giving you all the sauce because...
01:09:51.000So we're going to keep giving you guys the value, whether it's us debating annoying ass girls or us giving you value on how to make money and not be a bum, etc.
01:09:58.000We're going to keep being the best men's podcast in the world.
01:10:04.000There's times when we at first don't feel like being here, but we understand that we need to be here regardless of how we feel because y'all need us.
01:10:19.000You'd go ahead and you'd be a lazy fucker and be like, I don't feel like doing it.
01:10:23.000And you'd fucking cry and then be a reclusive little bitch and sit in your bed and curled up in a ball in a fetal position like, I don't feel like doing it.
01:10:31.000But, since I decided, I don't give a fuck how I feel, I'm gonna come to work anyway, I'm here telling you, it's not giving a fuck how you feel.
01:10:40.000For all you guys out there, because I know a lot of y'all are like, man, I don't feel like doing it today, or I don't feel like doing this today.
01:10:44.000Some of y'all right now watching this shit with your girl, maybe, being all comfortable, like, I didn't go to the gym today, I don't know if I want to do it.
01:12:11.000Because I know in the UK that you guys have really...
01:12:14.000I remember when I did the Strike It Big interview.
01:12:17.000They're from England and they were telling me how it's really tough to invest in the UK. I know Australia is really tough about that as well.
01:12:22.000The taxes are really high and all this other shit.
01:14:01.000So back then, I was at Perma Pines, driving to Boca every day to work at AT&T, come back to Perma Pines, and I would go to the gym sometimes.
01:14:09.000I would go eat with friends in that Pines area.
01:14:13.000But what I would see is every time I go to the mall, these guys were buying clothes from Macy's, buying all these designer stuff, and I'm like...
01:14:21.000Why are these guys buying all this stuff?
01:14:24.000They work a job like me, making $7 an hour.
01:14:27.000But it was because they're using store credit cards.
01:14:29.000And they'll buy all the gear, and they'll be decked out, go to parties, pick up girls, whatever.
01:14:36.000But when it came time to actually do something with their money, for example, invest in themselves, they couldn't because the money was being spent and used to pay back debt.
01:14:45.000Which is bad debt, because obviously they can close our bad investment.
01:14:48.000So, These small things that add up over time, and I know some friends as well, they will actually go on trips.
01:14:56.000They'll go to Dubai, they'll go to Hawaii, spend $1,000.
01:15:02.000And then what happens is, let's say a big opportunity came up, maybe for a property or for investment, maybe like stocks or crypto.
01:15:10.000They couldn't do it because the money was spent elsewhere.
01:15:13.000The point of the guy is like, If you want to be free, you have to be debt free.
01:15:16.000Because if you're not free, you're a debt slave, which means you're a slave to debt.
01:15:22.000And the Bible talks about the bar being lended to the slave.
01:15:26.000So it means that, for example, if you're going to borrow money, you should be able to pay it back right away or have the money already saved so when you borrow that money, you could pay it back within that month.
01:15:37.000Guys, if you're young, especially, if your credit card by some chance or your parents gave it to you, if you use it the wrong way, it can mess you up because once again, you buy a couple items, you don't pay it back, you get a balance, you know, it affects your credit.
01:15:51.000And before you know it, damn, I got a 300 credit score.
01:15:55.000Well, my friend, early on in your life, you bought a bunch of stuff you didn't need and you never paid it back.
01:16:00.000So I'll have to say that, like, for the most part, guys, if you're going to be on this financial freedom path, debt has to be off the table.
01:16:07.000Because if it's bad debt, for example, of credit cards, maybe store cards, maybe going on trips that you can't afford, or even buying dumb stuff, it's going to affect your future.
01:16:16.000And for the most part, guys out here nowadays, they spend money on cars.
01:16:32.000I can even live with college loan debts because at least there you can pay an amount.
01:16:36.000You'll never get rid of college loan debt.
01:16:37.000By the way, you can't even declare bankruptcy for that stuff.
01:16:40.000But we're talking about consumer debt specifically, credit cards, et cetera, because that's...
01:16:45.000Absolutely going to negatively impact your credit score.
01:16:48.000And when your credit score is negatively impacted, that's going to affect your ability to procure assets and get yourself in a position to get a business credit card.
01:16:57.000So for all the young boys that are watching this right now that are 18 years old or above, besides joining the selective service so that you don't go to prison or get a fine, make sure that you go ahead and open up a credit card.
01:17:08.000Guys, at 18 years old, you need to open up a credit card.
01:17:09.000If you guys are out here still paying for shit, cash, or the debit card, you, my friend, are...
01:17:23.000You use the credit card so you can go ahead and get your credit, number one, get a credit profile, and then number two, get your credit score up.
01:17:28.000But you also want to be doing that delicate dance where you're not necessarily decreasing your credit score by buying a bunch of things, having your utilization up too much, etc., which we break this all down in our credit card episode for beginners.
01:17:39.000So please go back and refer to that if you guys want more detail on that.
01:17:41.000But in general, Avoid consumer debt, guys.
01:17:46.000It will lower your credit score significantly and impede your ability to procure assets, namely real estate.
01:17:51.000Because when you want to buy real estate and you want to get a loan, like I told you all before, first thing they're going to do is run your credit.
01:17:56.000And if your credit sucks, you're either not going to get approved or even worse, they're going to give you a really high interest rate that you won't necessarily be able to afford.
01:18:02.000So for you to get the best rates so that you can go ahead and get a house that makes sense, you need to have Your credit score on point, guys.
01:18:09.000We tell you all the time you want to have at least a 720, if not above, that's going to put you in the best position to get approved for the credit cards to actually give you rewards back and you'll be able to get a mortgage with a favorable or competitive interest rate and so many other things.
01:18:23.000A car, you want to finance a car, whatever it may be, you want to open up business credit cards because contrary to popular belief, people say, oh, business credit cards don't count towards your personal credit.
01:18:31.000That is true, but you need your personal credit to get the business card in the fucking first place!
01:18:48.000And then that's not to be confused, guys, with good debt, which is real estate debt.
01:18:51.000And real estate debt, the reason why real estate debt is good debt is because typically if you did everything that we told you guys and you looked at cash or cash returns and you're buying a property that's cash flowing, which means what?
01:18:59.000All the bills are paid after the fact and you're able to make a little bit of money.
01:19:02.000It doesn't matter that you have a million dollars in debt on a real estate property because what's happening is the house is paying for itself and you're making money in the process and you're getting all the other benefits I talked about before with taxes etc.
01:19:14.000Consumer debt is what you need to limit and or eliminate.
01:19:17.000But if you're going to have real estate debt, that is what you call good debt.
01:19:21.000Robert Kiyosaki came in here, guys, and told y'all, go watch that episode back.
01:19:24.000He said he's like a billion dollars in debt, and he's probably a billionaire himself.
01:19:28.000Because he has a bunch of real estate debt.
01:19:50.000I told you before, if you try to buy stock, buy their own stock with the bank, they're going to give it to you.
01:19:54.000But if you say they're going to buy real estate, next thing you know, the boys start rubbing their hands like this and they'll give you that money.
01:19:58.000Because they know they can make interest on it.
01:21:02.000It means you are on a path to be financially free, which means money's coming in.
01:21:07.000You can do what you want with your money and life, your lifestyle.
01:21:11.000But if you are not actually free yourself, then you can't Enjoy this path because you being free means you actually have the benefit of having the skill or having the know-of-all to make money to get that lifestyle.
01:21:29.000How do you become the best version of yourself?
01:21:31.000How do you become successful in your own right?
01:21:33.000And it's basically investing in yourself, which means you're actually going to either read books, get courses, find a mentor, or even as simple as gain experience in the field to learn a skill to make money.
01:21:46.000It's all around making money, but each person has a level and a cap.
01:21:51.000So let's say Tom, for example, and Harry.
01:21:58.000But he spends most of his time learning on YouTube about real estate.
01:22:02.000He's going to real estate events, going to networking events.
01:22:05.000He's focused on real estate and becoming successful, learning how to invest, how to make money, things like that.
01:22:10.000Jack over here, same age, same, you know, free time, but he's playing basketball, you know, he's going out with friends, partying.
01:22:18.000They're both young guys with the same amount of free time, but one person working on their skills and becoming better, one person isn't.
01:22:23.000Which means when opportunity comes around for these both two guys, what's going to happen is Tom here is going to have the chance and the skill because he's putting the time and effort into learning these skills himself.
01:22:34.000I still have that to say that in this game of investing in yourself, you need to have either a mentor or someone or even yourself.
01:22:42.000I mean, you could do it yourself, but to me, personally speaking, I need a mentor because I don't know everything.
01:22:46.000I want to get a learning curve because, once again, the learning curve is very tough.
01:22:49.000And I think if I get a mentor in that space that knows what he's doing, I can bypass all the mistakes I would make myself and get further ahead.
01:22:57.000So I would say, number one, get a mentor in your space.
01:23:00.000Whether it's stocks, real estate, crypto, you know, e-commerce, KTL sales as well.
01:23:05.000Whatever it is, get a mentor in that space.
01:23:07.000And then two, spend the money you would have spent on dumb stuff anyway onto yourself.
01:23:12.000So going to Club Pop and Bottles, that thousand dollars you would have spent on, you know, some bottles for one night, some dumb whores, put into yourself, either with a course or learning a skill.
01:23:22.000And then take those skills and apply it once you learn the skills in real time, in real life.
01:23:28.000You're going to see the fruits of your labor because I'm saying this right now, guys.
01:23:31.000The money you spend dumb or you spend in the wrong way is opportunity cost.
01:23:36.000And I'm telling you right now, if you don't say now, you're going to feel later on because the opportunity cost has a heavy burden.
01:23:41.000And then last thing I would say, so number one is going to be finding a mentor.
01:23:46.000Two is investing in courses or skill in yourself.
01:23:49.000And number three is going to be pretty much Use your time correctly.
01:23:52.000Because we all have 24 hours in a day.
01:23:54.000But if you're going to use time in any sense or any fashion, you want to use it in the right way, which means you're going to put work first, of course.
01:24:02.000Put yourself in there for fitness as well.
01:24:34.000Because we've talked about this ad nauseum, right?
01:24:36.000I've told you guys a million times that you need to get a mentor if you even want to start a side hustle or whatever because that's going to cut your learning curve down significantly.
01:24:43.000So, let's go ahead and talk about how to go about this, okay?
01:24:45.000Versus telling you, get a mentor and then just moving on.
01:24:57.000I don't care if it's cleaning toilets, all the way to some executive position, all right?
01:25:01.000You're going to have some type of job, whether it's skilled or not, whether you have a degree or not, that's going to pay you money so that you can go ahead and pay the bills, okay?
01:25:09.000And what you're going to do is you're going to work that job.
01:25:12.000You're going to take that earned income because we all have to go ahead and trade time for money at some point.
01:25:15.000You're going to go ahead and take that job.
01:25:17.000With that job, you're going to make some money.
01:25:19.000You're going to do your best to live way below your means.
01:25:28.000You know, nothing too fancy, and basically save 90% of your money, right?
01:25:33.000Save as much of your expendable income, keyword, after your bills are paid, the expendable income that you have left over, you save that, okay?
01:25:40.000You're going to save that money, and as you work this job and you save that money, you're going to also do independent research on a side hustle.
01:26:58.000Then I want you to compare prices and see who's the best, what's the best ROI, bang for your buck, who offers the most value, look at reviews, research the hell out of that person.
01:27:10.000Once you have your eyes set on a potential mentor, you have the money saved up, you're still working your job over here, now it's time to actually pull the trigger, right?
01:27:35.000Once you do that, take the teaching seriously, go through the modules, apply what the fuck they teach you.
01:27:40.000A lot of you guys will go ahead and get a coach, etc., and they'll tell you to do X, Y, Z, and you guys will only do Z, or you'll only do Y, and you wonder why you're not getting the X, Y, Z money that you should be getting.
01:27:49.000It's because you didn't do X, Y, Z. You only did Y. You only did Z. You only did X sometimes.
01:27:53.000No, it's got to be all the fucking time, alright?
01:28:31.000All right, get some new drip, blah, blah, blah.
01:28:32.000No, I'm not going to fucking do that shit because I'd rather save the money and invest it back into the business, all right?
01:28:36.000The only people that have drip are the fucking retards with the saliva dripping out their mouth because they're idiots and don't understand how money works.
01:28:42.000Meanwhile, everybody over there in the mirror is laughing at you, our retarded ass niggas.
01:29:52.000A lot of you guys that fail when you get a mentor is because you don't do everything that you're supposed to do.
01:29:57.000Do everything that's required, and then you will go ahead and get back the benefit.
01:30:00.000But if you don't do what's required and you only do what feels good, then you're not going to get the fucking investment back that you spent the money on.
01:30:06.000So you need to actually take the action and work really fucking hard after the fact.
01:30:10.000And keep in mind, you're still working a regular job.
01:30:23.000Because as soon as you spend that money, you no longer are going to do all the fuck shit that you used to do when you had your regular job.
01:30:32.000You want to really be an entrepreneur while simultaneously having your other job?
01:30:35.000This is going to be the hardest part because you'll be working a regular job 40, 50 hours per week and you're going to be working on your business.
01:30:41.000Are you prepared to make the actual sacrifices?
01:31:22.000You work your real job, you get your side hustle, you work that side hustle until it makes as much money, if not more, than your real job, then you can make the conscious decision to tell your boss, fuck off, I'm going to go ahead and become an entrepreneur.
01:31:32.000But that's going to take time and a lot of effort, and you're going to have to make sacrifices.
01:31:36.000Fuck the bitches, fuck the vacations, fuck the bandit bullshit.
01:31:38.000You really have to sacrifice if you want to do this shit.
01:31:41.000This is a dark side that no one's going to fucking tell you, because it's going to fucking suck.
01:31:45.000Ask yourself, are you ready to make that sacrifice?
01:32:38.000Jose Ramirez says, I want to get a new car from dealership.
01:32:41.000Do y'all think it would be smart to get one?
01:32:42.000I use my second job as a lift driver to pay it off.
01:32:45.000I heard if you do this, you can pay off in two years.
01:32:48.000My friend, I know people that did that personally, and it can work, but you have to understand, you drive that car for work, it's going to have repairs, it's going to have issues, and let's say you say, you know what, I'm tired of doing this, I want to give up, how do you pay for the car?
01:33:03.000So, you have to know yourself, if you could last two years, awesome, but it's going to be tough, just saying.
01:34:48.000In your situation, it might be better for you to get a car, my friend.
01:34:51.000It might be time to save and get a car.
01:34:52.000So that's an example where having good credit and financing a car might be in their best interest in this case because the Ubers and transportation, I know what it's like being in New York City and having used that.
01:35:30.000You got to basically underwrite the deal before you're even, you know what I mean?
01:35:35.000Redfin, I use Redfin when I look at a house.
01:35:37.000You can use the mortgage calculator there.
01:35:39.000It's pretty damn accurate, by the way.
01:35:41.000And then you can figure out how much is going to cost you a month versus how much the house is going to make a month based on current rentals, etc.
01:35:47.000And then figure it out from there and get that cash on cash return.
01:35:49.000But yes, if you buy a house as an investor, be prepared to pay somewhere between 7% to 8% on that interest.
01:35:55.000Or if you're buying it as a primary residence, you're probably looking more around like 6.8, 6.9, high sixes if you're buying it to live in.
01:36:02.000Remember, you're always going to get a better interest rate when you live in a property versus when you buy as an investor.
01:36:15.000Yo, guys, we got 5,300 of y'all in here right now watching on YouTube, and then I think another 5K or so on Rumble.
01:36:21.000I need y'all to like the goddamn video, subscribe to the channel, and on YouTube especially, if you're watching us on Rumble right now, please open up another tab, guys, and like the video on YouTube because we need these videos going up in the algorithm.
01:36:32.000I just dropped the F-bomb earlier, so hopefully we can still get pushed in the algorithm.
01:37:30.000And then as far as the side hustle thing, do exactly what I told you before, as far as figuring out what side hustle you're going to do, working that regular job, etc.
01:37:38.000We need to clip that part and give it to y'all.
01:37:39.000Because that's the dirty side that no one tells you when it comes to finding a mentor.
01:37:42.000What you need to do while simultaneously finding the mentor.
01:37:45.000And when you do got the mentor and you're going through it, what you need to do on the side.
01:37:49.000Everyone tells you, they sell you this success porn.
01:37:51.000You could be on your laptop on a beach somewhere and making money.
01:39:22.000So, yeah, use the code FRESHFAT to check out my ninjas and, uh, go ahead and get that so that you can go ahead and take your girl to pound town.
01:39:28.000Is that the top song right now nowadays?
01:41:18.000And what I mean by that, guys, is in your idle time, your time that you're just chilling or whatever, you shouldn't be sitting there listening to music.
01:41:23.000You should be listening to audiobooks, watching documentaries, expanding your mind, becoming a smarter individual.
01:41:29.000If you're going to listen to music, go ahead and do that shit in the gym.
01:41:34.000But outside of the gym, you should not be listening to music.
01:41:36.000If you actually think about it, if you're one of these guys that loves music, blah, blah, blah, you spend a lot of time listening to music and you don't really derive a benefit from listening to...
01:43:53.000Mind Over Matter goes, hey guys, gotta say, your show has changed my life so much.
01:43:57.000Just wanted to say I joined SMMA, a community called Relentless Success Club, and learned how to start on working and quit my job, not making six figures a month.
01:45:26.000Would you recommend tax lien investing, purchasing tax liens on delinquent properties to earn interest or potentially acquire property if the owner fails to pay the outstanding taxes for our investors?
01:45:36.000Yeah, you can get some really good deals when houses are foreclosed on, guys, because keep in mind, here's a dirty little secret the banks won't tell y'all, the bank is not in the business of being a real estate owner and property manager.
01:46:06.000So, with that said, when someone forecloses on a house, they're going to go ahead and sell that house at a very low cost because they want to get rid of it.
01:46:13.000They want to make some money back versus making no money and they don't have the time and effort to put into managing that property, dealing with tenants and all that other bullshit.
01:46:20.000So you're going to be able to find really good deals when houses are foreclosed on.
01:46:24.000You go to the town hall and they'll be doing auctions, etc.
01:46:32.000I have a lot of friends that do it, but it is a hard task because you have to understand, like, they're focused in a room for hours.
01:46:40.000Just researching, looking at the news, looking at certain things.
01:46:43.000And my friends are very successful, but took them years to accomplish this.
01:46:47.000And most people give up in that period of time.
01:46:49.000And I will say this off-rip, it is not easy.
01:46:52.000Everyone I know that does it, they have sacrificed so much of their family time, outside time, just to focus on this one task of day trading.
01:47:00.000And it's rewarding, but the path to get there is almost...
01:47:58.000You're going to be on a laptop in the house stressing, trying to sleep, working your side hustle while someone's trying to get some rest so you can do your real job.
01:48:05.000Formula Media goes, I'm 16 years old, working in my online business.
01:48:08.000What would you recommend spending my time and money in?
01:48:10.000Go back to what we said before as far as finding different niches and figuring out what you like and then going ahead and saving money for that niche.
01:48:26.000Razor319 says, I worked a salary job in corporate security field and created my LLC for risk consulting on the side, leveraging my professional network.
01:49:16.000People don't know what that really means, bro.
01:49:18.000I mean, I don't put so much into this, it's crazy.
01:49:20.000And the last one here, Chow BK says...
01:49:24.00027, just graduated civil engineer, started 68k a year.
01:49:27.000Not sure if I can't study masters and get PE license or work on a side hustle slash real estate.
01:49:34.000I'm hungry, need a way out from poverty, growing up in session 8, trying to get fit also.
01:49:38.000I have no problem if you have a job and you can get a little bit higher education to make more money in that same job because you're already in that career field.
01:49:45.000So here's the thing, this is what I would say.
01:49:46.000In your situation, see if you can get your engineering firm to pay for your education.
01:49:52.000And a lot of times they will do it or they'll compensate you to a degree for it.
01:51:15.000Next step, bro, I would say stop putting money into an investment like real estate once you get some more money saved up, and you're on the right path, bro.
01:52:08.000And then once again, upgrade the next car.
01:52:10.000So by the time you want a Lambo, you're going to be approved because you've been paying for a car and you can see the history of you getting cars, upgrading.
01:52:17.000So that way you're going to be on a good setting to get a car that you want.
01:53:25.000See what's going in versus what's coming in.
01:53:27.000And then if you're realizing that, damn, I don't, you know, I have a lot of debt or I'm spending a lot of money, but while you got two options, lower your costs, which you should absolutely be doing anyway.
01:53:35.000And then number two, Pick up another job.
01:53:37.000I don't care if you work at McDonald's, then you also gotta pick up a job at the opposite Burger King next door.
01:53:44.000If you're a man and you're under 30 years old and you're at the house, you know, All day, and you're working less than 50, 60 hours, you need to really have a tough conversation with yourself and look in the mirror like, damn, am I really doing everything that I can do?
01:54:30.000Whether you're listening to music, whatever it is, you need to be productive in your time, lower costs while simultaneously increasing income, and you do that by budgeting your money and making sure that you live way below your means, be a minimalist, while simultaneously finding other ways to make more money.
01:54:44.000Whether it's working more hours at your job, or you can't do that, you gotta sign another job, fucking do it.
01:54:48.000You should be working 80-hour weeks in your 20s as a man.
01:55:44.000Tom spends 150k a year, says 50k, has zero debt, But, with this outcome, from his actions, and if you fall all set to what we said today, he has opportunity with freedom.
01:55:57.000Which means, he doesn't make $200k a year, but he saves $50k.
01:56:01.000And he can spend that money on opportunity, investing in himself, or assets over a long period of time.
01:56:07.000John, on the other hand, He's 500k a year, spent 250k a year, so he's 20k a year, has debt 200k, so he has negative freedom, aka debt slave.
01:56:18.000So John makes a lot of money in this example here, but his expenditure for debt is huge, and his spending is huge, which means his savings are very little, so when it comes to opportunity, he has not much he can do because his money is spent in debt.
01:56:33.000And also as well and fun and other things as well.
01:56:36.000So, guys, this is showing you there's two paths you can do.
01:56:40.000And Tom is pretty much like on Myron's path of financial freedom because he's actually focusing on savings and putting money into like assets that he can make money off of versus John is about lifestyle, you know, kind of how I was and putting money into debt.
01:56:53.000And once again, guys, You have to plan from the very beginning because if you don't plan from the very beginning, you're going to have, I want to say, choices where you can either have fun or sacrifice for the future.
01:57:03.000And if you're not aware of what you're doing, you're going to go with the wind and make mistakes.
01:57:07.000But if you have a plan for your life from the very beginning, you can be like Tom here.
01:57:11.000And even though he makes less money, he saves more.
01:57:14.000And it's not what you have, but it's not what you spend, but it's whatever you keep for the most part.
01:57:26.000For all the high-earning guys, you're making six figures or above, right?
01:57:29.000You have a high-income skill or whatever.
01:57:30.000You guys are some of the most prone to getting in debt because you make more money and you think you're making more and you spend more like an idiot.
01:57:39.000As a higher earning guy, you need to buckle down even more so to ensure that you don't overspend just because you're making more money.
01:57:45.000And it's going to be the most tempting for you guys because you have the money to go to Miami.
01:57:48.000You have the money to be a fucking womanizer and do all this shit.
01:57:51.000But if you really want to be financially free, guys, and not have to depend on your job, I want you guys in a position where you have side hustles, you have other things that are making you money.
01:58:04.000Cryptocurrency going up and you're getting a dividend from that or a high-interest savings account that's giving you a dividend.
01:58:08.000You have all these other things in play where you're actually financially free and you're working the job because you want to fucking work it.
01:58:14.000You're not working it because you have to work it.
01:58:15.000You're working it because you want to work it.
01:58:17.000And you hire income guys with a high-income skill, right?
01:58:20.000Y'all make it $200,000, $300,000, $400,000, $500,000 a year, but y'all are living like you make $5 million a year.
01:58:25.000You guys are the most prone to fall for this mistake, which I'm really glad that you showed that.
01:58:28.000It's not about how much you make, it's about how much you save.
01:58:30.000So guys, If you don't save money and get yourself out of the rat race, you will continue to stay in the rat race and you're still going to be a wage slave even though you have a good career.
01:58:43.000And the beauty is when you save the money, when you have these high income skills, you're able to go ahead and get that mentor faster.
01:58:48.000You're able to go ahead and invest faster.
01:58:49.000You're able to make money Faster, because money loves speed.
01:58:51.000So you're able to invest $10,000 after a month into a mentor right away.
01:58:56.000You're able to get in, learn, make that money, invest even more so, and then that money comes back to you faster.
01:59:00.000But if you spend that money like an idiot, it's going to fuck you up.
01:59:02.000So spend that money quickly up front with the high-income skill, and you'll be able to get that success quicker because you have the capital to do so, man.
01:59:10.000Last thing to say here, if you can manage a little bit of money yourself, let's say you can manage making 50k a year, you can save money from that.
01:59:18.000Make 100k, you can save money from that.
01:59:22.000It's the money that matters because, once again, if you make a lot of money and you're trapped in paying debt and paying for your expenses, then you're stuck in that cycle of lifestyle creep, which means you make a lot of money, but you're trapped in that essence.
01:59:34.000Yeah, because you have all these liabilities, man.
01:59:36.000So guys, I'm telling you, man, I know I sound like a broken record, but you guys that make a lot of money, 100k plus per year, etc., you guys are doing well, you need to save that fucking money, or else you're going to have to keep working that job to continue to live your lifestyle.
02:00:14.000Once you have enough real estate properties making you, let's say, $1,000, $2,000 a month, now you can go ahead and take that $1,000, $2,000 a month and go ahead and get that fucking car if you want.
02:00:21.000Or you could be even smarter, take that passive income you're taking along with your earned income, put it together, and now you can invest even more aggressively into more assets.
02:00:30.000Realistically speaking, until you're making 20 to 50k a month passively, I want to buy no nigger shit.
02:00:43.000All that money that you're making passively from that thing, you should be taking it along with your earned income, invest even more aggressively into these assets that pay you back money, buy your financial freedom faster, okay?
02:00:54.000Because the longer it takes, the more you spend money, the longer it's going to take you to do this shit.
02:00:58.000Buy that freedom back faster, then you can go ahead and have fun.
02:01:53.000If you want to finance a 50K-ish property for Section 8, should I have it under sole propriety or LLC, you're going to want to have it under LLC. And I will talk to you all about how to structure your real estate business as well.
02:04:13.000And next thing you know, now your families are on the hook.
02:04:14.000Anyone here that's been a victim, not a victim, anyone here that's gone to DUI, etc.?
02:04:19.000And I know this intimately because a co-worker that I used to be with, that I used to work with at Macy's, he had a DUI and his fucking sister or mom had to come pick him up all the time.
02:04:26.00021 years old, 22 years old, grown ass man.
02:04:29.000Bro, it's the worst and it's going to cost you money, lawyer fees, it's not fucking worth it.
02:04:32.000And then the third one that you get is absolutely going to be a felony.
02:05:49.000And if you want to get a mentor, rewind the part where I explain the reality of getting a mentor and how to set up yourself for a business.