Rental Property Cash Flow – Exactly How To Grow Your Income With Rentals

Welcome to the exactly how podcasts and YouTube show brought to you by connecting investors. Now, doing this episode, you’re going to learn exactly how to cashflow real estate rentals. What was it exactly a podcast to show you by connecting investors during this episode for exactly the cash flow using short term rental. Now, for those of you who are new, my name is Sean Young, today’s host and prop member, the connected investor podcast. For those of you who are new, my name is Sean Young, today’s host and prop member of the connected investors community. Now, before I introduce you to our next guest speaker today, I want to make requests to show you like what you hear. Please give us a thumbs up, hit that subscribe button. So you don’t miss an episode and make sure to check out the description of this episode. As we pack it with thousands of dollars in free resources.  

Speaker 1: 

Now, today we had the privilege to learn from a man who now teaches individuals, how to literally create cashflow prior to his coming in real estate. He was a college dropout, squatting and bank on properties, but all bet change. And his wife, when did the hospital, because she couldn’t, she couldn’t drink and he couldn’t walk or talk simultaneously without fainting. Yeah. So I would describe our next guest as focus. I’d like to introduce you to the one, the only J Massey J thanks for being a guest on today’s show today. Thank you for having me. Uh, I’m glad to be here. Absolutely. Thank you. Now, before we dive into exactly how to cash flow using short term rentals, Jay, you contribute a lot of your success to stay close to Jesus and his willingness. Now, before we dive into the exactly how to now, before we dive exactly now, before we dive exactly into how to cash flow using short term rentals, Jay, you contribute a lot of your success to stay in close to Jesus and your willingness to fail fast forward and frequently.  

Speaker 1: 

Why do you think this has played such a huge role in your success? Well, what it comes down to is we learn certain habits as we grew up, and there are certain systems that we’ve all participated in that have taught us how to be, how to act and how things are to be explored. Even entrepreneurship is an experimented best, and it’s definitely not designed. And in some cases it can feel like an art in and for some people it might even feel unreachable, but because it is partly an art, one of the greatest things about art is that you get to try and you don’t expect it to be perfect on the first time yet when we go to kindergarten through 12th grade, or, you know, for those who went further, you, you learn a very important lesson  

Speaker 2: 

Is like you, you raise your hand, you get the answer wrong. And the entire class laughs at you, what ends up happening is that you develop a way to, Oh, I don’t want to hurt like that again. That was embarrassing. So we associate that with failure. We don’t want failure is not something that we seek is not something that we desire. And at the end of the day, Jesus gives me the freedom to fail because I get to start over every day. It’s like, cool. That’s awesome. And being able to pull that into a practical sense, if, I mean, athletes understand this musicians clearly get it because they don’t get the notes. Right? All the time, the fall, the ball gets fumbled, just what happens. And when you apply that to entrepreneurship, what ends up happening and specifically in the real estate world is you go through way more experiences in lot shorter of time, which then gives you the confidence to try it. You know, not only bigger deals, but more creative structures. And to do more, there was no other way for me to learn something other than to experience it quickly. And in, in short period of time, especially when, like you said, squatting a bank owned property, knowing that if I didn’t find a way to sell something, we wouldn’t have eaten  

Speaker 1: 

Well. So it was basically like almost a do or die scenario. And, uh, you know, you, you are forced into learning. Like you say, life forced you into learning. Yeah,  

Speaker 2: 

Yeah. It wasn’t something I, I was seeking not at that time. I may not that that was not my personality. That was not something I wanted. Uh, very few of us will choose to voluntarily create discomfort in our life. And I, and I found that there’s a lot of people who entered real estate because something was finally discomforting enough to get past whatever it is that you were afraid of or whatever your self concept or identity was to finally do the activities that were required in order to make it work.  

Speaker 1: 

That’s awesome. That’s awesome. I’m really glad that you actually touched on that because you know, the fact that you said, you know, Jesus is there for you, as, you know, as a faith, as someone that is providing something that is providing faith for you, you know, and it takes a lot of that in our industry. And in what we do guys is to kind of have, like he said, you got to fill your weight and fast forward. So having that faith that is definitely gonna allow you to break past that fear. Would you agree?  

Speaker 2: 

There’s no. I mean, if you, this is one of the concepts that it’s hard to envision sometimes, but it’s, if you try to do something that you have never done and you don’t quote unquote, have a safety net of any kind, the speed with which you attack it, the speed with which you, the, the depth with which you are willing to go, how fast you’re willing to take that risk on is completely different than when you go. Well, my worst case scenario is I fall in that right now. That doesn’t mean you’re still not scared, but your worst case scenario is you fall in the net. It’s not my case scenario. I might die. Right. And if you don’t have something that, that can give you that comfort of, okay, here’s my worst case scenario, right? Then you might not take the level of risk, the speed of risk or the quantity of activity required with the correct intensity to actually make it happen. So I was gifted this situation. I don’t wish it on anybody. I wouldn’t have chose it, but that’s what it took for me to get past all of my fear, insecurities and anything, just to open my mouth, talk to strangers and make deals happen.  

Speaker 1: 

I like that. You know, are you, are you guys, you know, soaking up what he’s, he’s laying out because it is, there’s some key information that he’s putting out here. He’s basically saying he took the type of action that only someone with confidence can take. Have you ever tried to, let’s say, play a sport, step up to the bat and you’re in you’re timid. You’re like, uh, you know, I don’t know if I can hit this or not, versus someone who steps up to the plate. You know, steps in there stands in place and is ready to swing, swing away. When that good pitch comes across the plate, those are two different types of players. And it sounds like Jay is that second type of player. The one who stands in there with the confidence and makes things happen.  

Speaker 2: 

But that confidence is built upon hundreds of hours or thousands of attempts at failing first. I mean, I’m, I’m willing. I know that. I don’t know if I can hit the ball and I’m okay with knowing that I don’t know. Well, let’s go find out.  

Speaker 1: 

I’m going to go find out,  

Speaker 2: 

Finding out because I will find a pattern to success. There is a pattern to it, but you don’t discover it on your first shot. You, you have to try many successive times before you can begin to see, Oh, when I do this in this way or in this order, then it works. Okay. Now I understand. And most of us, we don’t stick in the game long enough to see the pattern, recognize the pattern of make adjustments so that we can improve our, our ratios and efficiencies. We are just not willing to fail. We have to be, if you want to be an entrepreneur, the beginning part of it. Yeah,  

Speaker 1: 

You gotta be. There’s no other way around at J now, guys, what makes the exactly how financial freedom, podcasts and YouTube show unique is that every show comes with a detailed action plan. We pull the steps out of each show and create a blueprint on how to implement exactly what we’re uncovering. Now, all you have to do is go to now, all you have to do is visit connect and investors.com forward slash free to get the key takeaways, get the resources and the free gifts that Jay has generously allowed us to give you today. Now, plus, you’re going to get our free training right now. All you have to do is text the word exactly to (910) 600-0630.  

Speaker 2: 

To see for yourself, this is exactly how I make my money. Guys, you can find properties in any town for pennies on the dollars using this software that I use each and every day. So again, text the word exactly to (910) 600-0630. Now, as nearly a million people know connecting investors is a social network of real estate investors and a marketplace of investment properties. In the description of this video, I’ve included a link to this episodes form discussion.  

Speaker 2: 

So Jay let’s dive into the steps that cashflow using short term rentals implements. Hold on, let me say that again to the steps. So Jay let’s dive into the three steps that are involved with cash flow using short term rentals. Now, before the show, you did break it down into three steps for us, bind fun and feel. Can you break down step number one for us? Absolutely. And it’s the most counterintuitive, especially to those who have more real estate experience because rule number one in real estate, we were all taught it’s location, location, location, and that is not how it works. When it comes to being a short term rental, uh, operator. That’s not what you’re looking for. The number one thing that you must figure out is who it is that you want to serve, because who that you want to serve. Keyword being wants, not have to, not anything other than that.  

Speaker 2: 

That’s what determines location, property size, what you put in the property. It determines everything else. For example, if I know that I’m going to serve a family that is traveling with small children, then Hey, now things like making sure I have a two bedroom makes sense or a one bedroom with a particular type of, um, a particular type of a sleeper sofa that would also work. And I, if I however, have that same situation where I want to be a short term rental entrepreneur, and I know I’m serving individuals who are not traveling with children, then the two bedroom is almost always off the table. And I’m looking at studios and one bedrooms also though, whether you realize it or not, is that every individual, anytime they are needing temporary housing of any kind they’re doing so for a specific purpose, no one just randomly says, Hey, let me go stay somewhere else for fun.  

Speaker 2: 

There’s always something that they’re looking to do, which means doing an analysis of why is that person coming to the area? We’ll tell you where geographically you need to be. Because most people tend to think, Hey, I want to be near the airport. That’s not quite true. You want to be near the thing that the person who is coming to the area, what they are looking to do, everyone will make that trip from the airport to their destinations once they don’t want to make it every day. So the closer you can get to the thing that they are there to do the better, which means sometimes you’re located near a hospital. Sometimes you’re located near a convention center. Sometimes you’re located near the business district, the beach and or the amusement park. It all depends on who it is that you want to serve. So basically kind of having your end game in mind before you even get started.  

Speaker 2: 

Yeah. Because who’s going to use it. How is the property going to use? I find that that is the number one thing. Every real estate investor forgets. They, they don’t even think about once I have my longterm tenant and how are they going to use it? Once I have my short term rental tenant, who, how are they going to use it? We spend so much time focused on the property. We forget about the person. And it’s the person that ends up creating the return in the first place. And that’s where more of our efforts absolutely needs to be. When you’re operating as a short term rental operator, it’s just, you’re doing that to an extra degree to figure out, Hey, do I need a King size bed queen size bed? I need to do twin beds. How many TVs? It’s all relative to who is that you want to serve?  

Speaker 2: 

It determines everything you want to know, what books do they read? What conferences do they attend? Uh, what, what, what is their job? Do they have one, right? Because you can still do work, especially now in the, in the nonprofit sector where individuals are being displaced for various different reasons. Or you can just do work with insurance companies. The gamut of how short term rentals can be used. It’s very, very, very wide open. And when you think about who it is that you want to serve first, the, the depth of opportunity becomes very, very apparent. That is some great information, great, great stuff, which will bring us into our next step is, you know, once you figure out what you want to do and what’s your end goal is funding. Got it. The question comes to me quite frequently and it’s  

Speaker 3: 

Usually not as, um,  

Speaker 2: 

It it’s, it’s different than what it comes down to. When you’re trying to purchase a piece of real estate, there’s for a number of reasons, the math continually proves out. And I know there’ll be conversation about it, but I mathematically I can prove that, you know, starting by leasing a property first is way better and more beneficial than owning the property. First, I get that. You want to own the property, but here’s my just accept this for a moment. What I prefer people to do is you take the pot of money that you’ve gotten. We’re going to talk about raising that pot of money or putting that pot of money together in a minute. But let’s just pretend for the sake of this conversation. We’re talking about a, I’ll use a quarter of a million dollars. You happen to have that, okay, you take that quarter of a million dollars.  

Speaker 2: 

And what you do is you go out there and create a that’s to be at least 10, probably closer to 15, uh, short term rental locations. Here’s what I know within the next 10 to 18 months ran properly. And with efficient systems within the next 10 to 18 months, you’re going to have your quarter of a million dollars back. And now you also have your 10 to 15 locations, which then creates a completely different situation than what you may be facing right now. What I want people to do is to create a down payment machine, a machine that can continually allow you to keep purchasing properties, because here’s what I know from all of the, at the time in the real estate, that space that I’ve spent, uh, many people like the birth strategy, but that birth strategy has a major weakness when it comes to refinance.  

Speaker 2: 

Uh, and often when you do get your first property, if you want to do buy and hold, you, you, you have got a challenge. How do I raise more capital? How do I do that again? Because one property does not have retirement make. And ultimately if you take the time to build a down payment machine, then you can keep building buying more and more properties. So the key to this whole thing is getting the first one and believe it, most individuals are able to start their first one with a credit card. Uh, in fact, often less than I would say, depending on the square footage, I always tell people to say $25 per square foot. That’s a very conservative estimate as it can be done for less. It’s just where I tell people to start. When you say the $25 per square foot, that’s in the repair estimate that you’re referring to.  

Speaker 2: 

No, that’s just, no, no, no. We’re going to lease the property first. I’m not going to repair anything. I’m going to take it rent ready, and I’m going to lease it. Meaning now I’m going to fill it with all the appropriate things relative to the customer type that I’m looking to serve. So if I’ve got a 5,000 or 5,000 square foot, wow. Not that big 500 square foot property, I’m going to need that $7,500. Okay, great. I got to start somewhere and the that’s what I’m going to need to get started. Now that’s a number that may people can get very, very close to on a, um, on a, um, on a credit card. So, and that’s what I’m talking about, sorry, that’s actually 12 five, but that’s a number that people can still get close to on a credit card. And that’s my point is the startup costs are very, very minimal and the cash on cash return, which when you were in a pre retirement state, which I suspect the majority of individuals listening to this episode or anything on this particular, uh, channel, it, it, that’s what they’re looking to.  

Speaker 2: 

There any pre retirement state. The most important thing you can do is accelerate your cash on cash return and do so in a very tax advantaged way. So that’s why we call getting the first one phase one phase two is in, how do I duplicate that 10 times and the keys to understand that once you have one, this is one of the few estate strategies I have ever discovered in mind, you I’ve done a lot. That self-funding is a real thing. It’s like a reality. And it creates this, this situation in which you no longer cause here’s what happens traditionally. When you go to buy a property, your especially your first one, do you realize that that’s when your experience is the least, but yet you’re being asked to take a 15, 20, 30 year risk. I mean, there are some marriages don’t last that long.  

Speaker 2: 

Just think about that for a second. And that’s when you, you’re being asked to take a really huge risk when your experience is the least. And all I’m saying is let’s invert that let’s increase your experience quotient. Let’s give you a very stable system to produce consistent cashflow. And now let’s then go to the table and start purchasing. Because now you’re purchasing knowing that in another 10 to 18 months, Hey, I’m going to have this down payment money again. So there’s way less pressure when you’re at the closing and negotiating table and you’ll make way better decisions. And that’s what we’ve been able to do improve  

Speaker 4: 

Time and time again. Awesome. Awesome. That is some great stuff, Jay,  

Speaker 2: 

That takes us into step three, the final step, which is yep. So this is a very important question, especially right now, given the economic environment and the whole coronavirus situation, just everything that’s going on, understanding your customer also tells you where you might find them. For example, a pre COVID. Yeah, it was easy. Just put it on an Airbnb or put it on a VRVO or what have you. And let me be very clear here. Airbnb is not a strategy. It is a marketplace, no different than Amazon. So I don’t understand how you can use a, you know, Airbnb as a verb is my point. So this, but this is a key distinction because once you understand that then a new world begins to open up. For example, we’ve done a significant amount of business with hospitals and nurses simply because they’ve had to travel a lot, right?  

Speaker 2: 

Yes. Some of them do come from those traditional platforms, but what about contacting a hospital directly to fill your unit? We’ve done a significant amount of business with the government. Why? Because they’ve got a ton of people traveling around the CDC, the COBIT tasks force they’re everywhere, and guess what they need consistent places to stay. Uh, we also have been able to do business with nursing homes. So hear me clearly many individuals right now are dealing with they’re thinking about, Oh my goodness, grandma, grandpa, they’re at the nursing home. What if there’s a breakout there? How do we handle this? Because we can’t go see him. How can we, what can we do? Well, short term rental operators are right there for the rescue. Cause they’re the person who is providing any sort of medical assistance, especially in a two bedroom. They can stay there too. And now they’re in an isolated environment. Whereas if there is a breakout at the home, you’re not there. We’ve found many different ways to, to create use cases for what it is that we do. And for those of you  

Speaker 1: 

Right now, who are thinking about, Oh my God, my kids in school and how’s that going to work? Wouldn’t it be nice if your employer contracted with a short term rental operator who already prepared  

Speaker 2: 

A desk and the fastest fiber and or wifi for you so that you didn’t have to try to figure out or fight over your kitchen table at home, you can come to our place, work there and then go back home, just like you used to. And we just changed the definition of what your work environment is. So when it comes down to understanding how to fill, this is why you must start with who it is that you want to serve, because that’ll tell you where to go find them and what problem you’re solving, because you can’t just gone under the days or I’ll just put it on Airbnb and wait. Okay. Wonderful. That does not to say we still don’t get business from there, but that is cannot be the entirety of your strategy. You are a short term rental operator. You don’t have an Airbnb business.  

Speaker 1: 

I love it. J I, I definitely love how, how you said that. Uh, we’re still solving problems because that’s what we’re here to do is we’re here to solve, uh, solve problems for our communities guys. So if you take that approach, you’re going to have huge success. If, if you, if you go at it at a different way where you just kind of look at it for the money, um, you won’t, you won’t attract the money. It just doesn’t happen. I’m not sure why. That’s just how it works. You have to go after the problems. I mean, I tell this to folks all the time, you literally have to try to find problems and be a problem solver. Would you agree?  

Speaker 2: 

100% because I promise you pre COVID, um, the idea or the supposition of just being able to put it online and wait. That was kind of easy. That was there. We would take the low hanging fruit and there was more than enough of it. But as soon as we lost international travel and the planes were grounded and all this other stuff started happening, we had to go find new problems to solve. And in fact, here’s another one right now, your local colleges, some of them are trying to figure out housing for any of the students, because what are they going to do? I don’t know. You don’t know, but here’s what I do know. We are already being contacted by people  

Speaker 1: 

Who are trying to secure housing for their child so that they don’t have to worry about is the dorm going to be open or not? Or how is this going to work?  

Speaker 2: 

My point is there are more than enough problems to solve out there as it relates to temporary housing. Because today, yes, today, while you are listening to my voice somebody’s house flooded. And the only reason you weren’t getting the phone call from the insurance company is because they don’t know you exist and you, and they don’t have the details of your property that, uh, that could solve that problem. And there’s so many them that are still happening, even in this current economic virus field environment that still makes the business work. And that’s the key to understanding how to still create cashflow, even when it feels like that. How on earth can this still be possible? Absolutely. I love it, guys. I hope that you are soaking up what Jay is laying down. Cause he is literally given you a wealth of information, a wealth of knowledge. I mean, this is great, great stuff here, guys. And now as a reminder, if any, if at any point in that show that you like, what you’re hearing, please make sure that you give us a thumbs up. So now, as a reminder, if at any point in the show, you like what you’re hearing, please give us a thumbs up or subscribe to the show so that you don’t miss an episode. Remember your engagement is what keeps us doing this show for free guys.  

Speaker 2: 

So Jay, what your life would be like if you never got into real estate and you were still homeless, living in a bank owned property somewhere near horrible is the first word that comes to mind. Um, because at the end of the day, I think there’s a version of every human, all of us, nobody wakes up going, you know what, today I’m going to aim straight for the bottom. I don’t think anyone says that. And when you, that was such a state of cognitive dissonance, I can’t even begin to explain because you can feel like aren’t I better than this, but why am I not seeing better than what I’m currently experiencing? And there’s only so much of that. Any human can take that. I mean, that’s why things like, you know, alcohol cigarettes, drugs, sales go up during hard economic times. Cause it’s like, man, aren’t I better than this.  

Speaker 2: 

I need an escape from it. I’m reasonably certain that, you know, Hey, I’d be down that path for sure, because I would have wanted an escape from it somehow some way. Uh, fortunately, um, I was able to, to claw and find a way to create value with the skillsets that I was given and adding a ton more because ultimately it’s not, it’s not about me. And this is another way of saying it. It’s not about you, the person listening, it’s not about you. You can create value regardless of your credit score, regardless of how much cash you have in the bank, because the marketplace is carrying. Can you solve my problem? Being able to put myself in a situation where I kept reading new books and watching new people, practice ideas that I had never seen practice before, gave me the freedom to try this.  

Speaker 2: 

Just try, you know, and I’ve also learned not to ask. So what’s, what’s the worst that could happen. It couldn’t get any worse than this. Could it cause it can. Uh, I found that out personally and just being really, really focused on controlling the mindset, what I was looking for, not what I was trying to necessarily run away from all the time and being in consistent action towards that goal. I can’t imagine. I don’t even, it feels like a nightmare to even think about what the answer to that question, because that’s a completely different version of, uh, of myself. I never want to meet.  

Speaker 1: 

Gosh, his way out of that is action. You know, like one of my mentors actually says, rock bottom is actually a great foundation to start from. It’s a solid foundation, but you know, you got to take action to get from that point from point a to point B, you can’t just think about it. You can’t meditate on it. You can’t pray on it. You’ve got to do, go read your way out of this one. And I love that, that sign behind you that says you can’t deposit excuses. I mean that either you’re going to succeed or you’re going to have an excuse, they can’t simultaneously exist. God. So you choose you pick, you make a decision right now. Which one are you going to have? Success or excuses.  

Speaker 2: 

Yeah, very clear. Very, and that’s the thing. And I had to learn those things. That was not something I grew up saying or thinking or believing or even doing. There was nothing. There is no evidence in my, in my pedigree, my background that would make you go, Oh yeah, I can see how he ended up there. Not a thing I promise. And it was all just because remember I was hungry, we didn’t have a way to eat. You want to talk about accountability? Just think about it. Think about what would happen if you just here’s an experiment. I won’t let myself eat today. Unless I write at least one offer. Just think about what would happen to your business if you did that.  

Speaker 1: 

And so actually was that, and actually stuck to that after you did that, just do it for 60 days. You don’t even have to do it for long. It wouldn’t be completely different. Don’t have to do that for long. No, not at all. And you would be something you were like, wow, I can’t believe I did it. Yeah.  

Speaker 2: 

Accountability. My accountability mechanism was my stomach because there was no other way I could create income to eat. Now I’m not saying that I want that for you. You don’t have to have that. But what I am saying is that that’s the kind of consistent, focused accountability that you need in order to achieve something that you have never experienced or seen.  

Speaker 1: 

It definitely gave you clear clarity. I mean, you had no way around it. You were clear on what it took. You know, sometimes you can be a little fuzzy because you have crutches and things that appear to be crutches in the way, but they’re just, they’re illusions. They can, they can be broken at any time. And fortunately for you didn’t have any crutches, you had to, you know, take it from that point and make something happen. Like you say, it’s either you make it happen or you don’t.  

Speaker 2: 

Yeah. Period. I had no more luxury of pretending everything was okay. It wasn’t okay. I’m like, no, it’s not. Okay. And in fact, do you have a property you want to sell because it’s not okay. And it’s not going to be okay until I find a property. And if you don’t have one, I’d have no more. I mean, I love you, but I have no more time to talk to you. And I got to go find one. But if you find somebody with one, please send them our way. I’ll be right back. And it was just over and over and over and over again because I had to eat. There was an urgency that I can’t even begin to explain, but that is what it takes to make it happen.  

Speaker 1: 

It is rare that I find anyone that I interview or that I, you know, I study that has success that has not faced hardship. And like Jay said, you don’t have to force yourself into that kind of into that corner. Sometimes life will force it for you. If you definitely have to take on that mindset to get through the challenges. If success was easy, everyone would have it. Right. You know, it is easy. It’s just not simple, same analogy. You can know exactly what you’re doing in a gym, but following the process on a consistent basis. Can you do that? That’s the challenge,  

Speaker 2: 

Man. It’s so funny. You said that because I, during this whole COVID thing and having asthma and whatnot, I went and got a Peloton. And one of the, um, um, awards or badges that you can win is for 5,000 minutes of activity, specifically on the bike. And I was like adding, never happening. Cause that’s what I was thinking when I I’m like what that’s crazy for those of you who don’t know, that’s close to about 83, 84 hours. And I’m like, how is that going to happen? Now, mind you I’m approaching like day number 78 right now. And I’m like less than 200 minutes away from a 5,000 minutes. And I’m like, well, I guess that wasn’t as hard as I thought at the beginning, but it was constant like 50 to 90 minutes a day. Every day, since May 15th, I was just, I just kept going and it looked messy at first. It looks better today, but it was messy at the beginning. And now we, and now it’s fun. So it’s like, you can’t get me off the darn thing.  

Speaker 1: 

I love it. I love it. Well, Jay, that brings us to the next part of our episode, which is the rapid fire section. Now what I’m going to do is just ask you a question and then you just give me the first answer that comes to mind.  

Speaker 2: 

Okay. Let’s go for it.  

Speaker 1: 

The scale of one to 10. How strict were you?  

Speaker 2: 

Your parents? 11 military. Sorry.  

Speaker 1: 

No, no. Your answers are your answers get up early or stay up late?  

Speaker 2: 

Yes, both is really what it comes down to get up early. Ed, stay up late. You work until the job is done. It’s until  

Speaker 1: 

Love it. Love it. How many hours of sleep do you get last  

Speaker 2: 

Month? I average four hours. 34 minutes and yes, I tracked it. You can’t know it if you’re not tracking right now, your favorite or your last book read J uh, right now I am reading the color of law. Um, and wow. It is an absolute, uh, eye opener when it comes down to just looking at how the United States in particular and its laws and how they have helped create some of the economic in equity that we see and that we are dealing with today. Who’s the author of that book. Uh, the color of law is rich. I’m trying to remember his last name. Uh, but it is Richard. Give me one second. I will definitely look that up because I’ve been on this journey because it, you know, when you experience a problem, any problem, one of the ways you can be part of the solution is to ask very simple questions.  

Speaker 2: 

Like how did we get here? Right? And when you ask that question, it’s like, yeah, how did we get here? And you start doing well-researched. And when my, my, my world that’s that’s mean, let’s go find out what is like, how did that happen? And how does all of these things tie together? And one of the clearest things you can do is, uh, read the, the color of law. It’s Richard Rothstein, Richard Rothstein. And he literally breaks it down from the beginning of the United States law by law, in every, um, situate from, from housing, because that’s where we have the biggest challenge stills yesterday to the school, to, to, uh, finances, the banks, every thing, and helps tie it together to help you see a completely different picture of, well, what we’re dealing with. And it’s like, wow, how now? How do we fix it? That’s a whole different story, but that’s something you’re looking for. And if you’re curious about definitely highly recommend, it sounds like a good one. Thank you for that. When Jay, now, if you could be any superhero, who would it be?  

Speaker 2: 

Any superhero? Okay. This is really funny because I have this up. I’m always stuck between iron man and dr. Strange, because I, I feel like I relate to them both in a very interesting way, but it’s Ironman, dr. Strange. I am not. I’m so torn. There are some days I feel like iron man. And they’re just some days dr. Strange is kind of my jam. So I’m still torn between the two. So I’m not a hundred percent yet. We’ll leave that to the people in the comments below to figure out if the comments now, something everyone should do less of  

Speaker 2: 

Procrastinate. Starting before you are ready, is one of the keys to making things happen. If you haven’t seen the book or sorry, the movie, the pursuit of happiness, it’s based on a bond, the life of a gentleman by the name of Chris gardener, two things I learned from him very clearly the Calvary isn’t coming and start before you’re ready, quit waiting around for someone to come and rescue you. You must participate in your own rescue. And then regardless of your level of education, remember PhD here, that means public high school diploma, PhD. That’s what I got. Okay. Regardless of your education and your background and history, take the next step forward. Just one and do that every day, right? Because in the financial world, admitting that all you have is a public high school diploma. Isn’t exactly like, okay, let me listen to him. Right? Yet cash flow is what we do. Cashflow is what we teach cashflow is what we’ve been able to help individuals change their family trees with. And it doesn’t have anything to do with having all the letters after their name. And it has nothing to do with how much money someone starts with. And it really, really comes down to starting before you’re ready.  

Speaker 5: 

Yeah. That, that makes a lot of sense. There is no right time to time  

Speaker 2: 

To get started is now, did you see the clock now, a clock now, a clock. I love it. I love it. Now. That’s right. Something. Everyone should do more of read period because the ideas, the solutions to your problems are somewhere outside of you. Um, there’s a different level of thinking that the author is coming to the table with problems. As Einstein said, problems cannot be solved at that same level of thinking. And again, you’ve done your best. Okay. And you never woke up and said, Hey, I’m aiming for the bottom. So you’ve done your best. Now your best may still have created a reality to, did you do not like fine. So seek somebody else’s ideas, consume them, try them because you’ve already tried yours and you got what you got. Right? So you’re reading the book to try someone else’s ideas, not just read and know about someone else’s ideas tried them because that’s where the true assimilation of the learning takes place.  

Speaker 2: 

And that concept specifically the slight edge, Jeff Olson, um, if you can just marry those concepts together, you’ll make way more progress. Great, great stuff. Bitcoin banger bust, uh, super bang because here’s the thing. We have a problem with our fiscal policy and, uh, if silver gold or any other precious metal oil or commodity is not accessible to you, um, all I’m going to say is you’re going to strongly need a defensive play against the money printing and devaluation of your purchasing power that is constantly occurring, uh, period. And that that’s where it comes down to. So I’ve been a fan of digital assets for a while and, uh, continue to be for that very reason. It gives every one of us an opportunity to protect ourselves where by most individuals are saving currency currency, which is going to be in, is constantly purchasing less and less. And you need a defensive strategy. And especially compared to saving, uh, precious metals, it’s easier to store, uh, and, and keep safe than a silver or gold.  

Speaker 1: 

Awesome. Awesome. Well, people live on Mars in your lifetime. No. Got it.  

Speaker 2: 

I mean, Elan’s great, but no,  

Speaker 1: 

Got it. Jay, this has been awesome. This has been an awesome show. And guys, you have made it to the end of the show and most people don’t finish what they start. So you’re special. Now, if you got any value out of the day to day show, please make sure you share this episode with a friend or on your Facebook page. Like this video, subscribe to our channel and send us topics you want to learn more about. And like I said earlier, nearly a million people use the connected investors, social network and marketplace to connect. Now in the description of this episode, we’ve included a link to today’s episode in now, like I said now, like I said, nearly a million people use the connected investor, social network and marketplace to connect. Now in the description of this episode, we’ve included a link to this episodes, form discussion, tap that link, ask me another pros questions and see what the investors are saying about this episode. So guys, until the next time you can catch me on the inside of connecting investors.