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Business
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Entrepreneurship

Cashflow Diary™

Updated 3 days ago

Business
Investing
Entrepreneurship
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J. Massey, real estate investor, entrepreneur, sales coach, instructor, master facilitator of Robert Kiyosaki’s CASHFLOW™ 101 games and creator of Cashflow™ Diary, offers free training courses for new and experienced investors. Break through the clutter of learning real estate and business investing and become a successful entrepreneur. Listen to beneficial strategies to improve your skills in prospecting, placing offers, closing deals, buying, selling, wholesaling, fix & Flips, rehabs and much more. By way of Cashflow™ Diary, J. Massey basically gives away current industry strategies by simply teaching what he does daily as a real estate practitioner. Start Learning For Free Today.

Read more

J. Massey, real estate investor, entrepreneur, sales coach, instructor, master facilitator of Robert Kiyosaki’s CASHFLOW™ 101 games and creator of Cashflow™ Diary, offers free training courses for new and experienced investors. Break through the clutter of learning real estate and business investing and become a successful entrepreneur. Listen to beneficial strategies to improve your skills in prospecting, placing offers, closing deals, buying, selling, wholesaling, fix & Flips, rehabs and much more. By way of Cashflow™ Diary, J. Massey basically gives away current industry strategies by simply teaching what he does daily as a real estate practitioner. Start Learning For Free Today.

iTunes Ratings

182 Ratings
Average Ratings
168
5
4
1
4

Straight Fuego 🔥

By Immigrant Investor - Apr 03 2020
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Loyal Listener here. I’ve been a fan of J. Massey for almost 2 years now, since I discovered his podcast. And, he has been my mentor from afar. He even inspired me to start a podcast. I did so, after thoroughly studying his content. Thanks to J and the CFD team. Why did it take me two years to leave a 5 star review? I’m a healthy skeptic

Great Host and Guests

By Lucas Marshall - Jun 25 2017
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Wealth of knowledge can be learned listening to the Host and guests on this podcast!!!

iTunes Ratings

182 Ratings
Average Ratings
168
5
4
1
4

Straight Fuego 🔥

By Immigrant Investor - Apr 03 2020
Read more
Loyal Listener here. I’ve been a fan of J. Massey for almost 2 years now, since I discovered his podcast. And, he has been my mentor from afar. He even inspired me to start a podcast. I did so, after thoroughly studying his content. Thanks to J and the CFD team. Why did it take me two years to leave a 5 star review? I’m a healthy skeptic

Great Host and Guests

By Lucas Marshall - Jun 25 2017
Read more
Wealth of knowledge can be learned listening to the Host and guests on this podcast!!!
Cover image of Cashflow Diary™

Cashflow Diary™

Latest release on May 11, 2020

Read more

J. Massey, real estate investor, entrepreneur, sales coach, instructor, master facilitator of Robert Kiyosaki’s CASHFLOW™ 101 games and creator of Cashflow™ Diary, offers free training courses for new and experienced investors. Break through the clutter of learning real estate and business investing and become a successful entrepreneur. Listen to beneficial strategies to improve your skills in prospecting, placing offers, closing deals, buying, selling, wholesaling, fix & Flips, rehabs and much more. By way of Cashflow™ Diary, J. Massey basically gives away current industry strategies by simply teaching what he does daily as a real estate practitioner. Start Learning For Free Today.

Rank #1: CFD 395 [REPLAY 023] - How to Produce Passive Income, Find Leads, and Build a Team in Real Estate

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Would you believe me if I told you that you are capable of purchasing a property and  selling that property without having to have any earnest money in as little as seven days? Listen now, as J. Massey teaches a live audience how making assumptions limits your possibilities and opportunities to learn, grow and get paid.

Jul 24 2017

40mins

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Rank #2: CFD 443 - Getting Started and Staying Started in Real Estate Investing

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Whitney Nicely went from no investments (or strategies) to 19 houses, 19 apartment units and 7 chunks of land in less than three years all bringing monthly money to her bank account on autopilot. She has traveled the United States speaking on stages, teaching her simple strategies, and meeting with other successful real estate investors- and still buying houses the way she teaches others. On this episode, she shares how starting something like real estate can seem scary from the outset. When you focus on your seller and buyers, that takes the pressure off you. Your goal in this life should be to help as many people as you can, keep your efforts small, personal, and smooth.

Jan 25 2018

44mins

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Rank #3: AHP: Debts, Chaos, and Cashflow

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Jorge P. Newbery is on a mission to help Americans crushed by unaffordable debts. He is Founder and Chairman of American Homeowner Preservation LLC and AHP Servicing LLC. AHP crowdfunds the purchase of non-performing mortgages from banks at big discounts, then shares the discounts with struggling homeowners. AHP Servicing LLC will bring social responsibility and a willingness to do the right thing to an industry often devoid of caring, compassion and basic human decency.

On this episode of the CashFlow Diary Podcast, Jorge explains that the most important thing is to take that first step. Then the second step, then the third step. List the steps and take the first one. Don’t look all the way to the finish line, work on getting through the first mile. Break it down into achievable bites that get you closer to your goal.

Apr 12 2018

42mins

Play

Rank #4: CFD 340 [REPLAY 274] – How I Did My First 117 Units of Property and Beyond

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In this short Cash Flow diary podcast episode I talk about a few of the basics, like how I did my first deals (because I get the question all the time), how to raise capital and how to generate leads. What you’ll learn is to do things in a certain sequence, which will help get others to enroll in your process. It’s like planting your lands in preparation for a harvest. You have to plow the land, prepare the soil, seed it, do a few more things to keep cultivating and nurturing your crops… and finally get to the harvest. (In real estate transactions, the close of the deal is your harvest.)

In this episode you will learn about the importance of conducting the III interview (triple “I”) with everyone you want to work with. That’s because you want your buyers, investors and sellers to be in total alignment with your goals, mission and vision. If they don’t fit you can’t force them to fit. If you do, you’ll be sorry at some point down the road.

You’ll also learn how to generate leads wherever you go. Whether that’s at Starbucks or the mall or in line at the grocery store. Again, it’s like planting seeds. You don’t just plant in one spot. You spread them around so you get a big, healthy crop.

If you want a better look at generating leads in the real world, you need to check out our Lead Machine Video Course. If you do, you can actually begin generating leads minutes after taking the course! It happens all the time. (It gives you all my offline lead-generation strategies I used when I was starting out as an investor and strategies I use even today!)

You will want to take notes as you listen to this episode. It is taken from a recent Periscope session I did on lead generation. We are archiving these videos in our member area, so if you are a Cashflow Core Member you can go watch it and take screen shots of the graphics I drew in this one! (BTW, you’ll hear my kids in the background. They have taken the role of my official “heart monitors” because we’re trying to reach a million hearts on Periscope by the end of the month.) Learn more. LISTEN NOW.

Jan 02 2017

36mins

Play

Rank #5: CFD 392 [REPLAY 007] - How to Choose Where to Get Started

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The desire to become a real estate or business entrepreneur begins with a desire from within. Identifying, a mission you would like to accomplish through your business is key and aids in your continued success. A mission will keep you focused on why your business is important, what your business serves and when you plan to accomplish certain goals through the mission of your business. Listen now to learn more on how to pin point the who and how

Jul 10 2017

30mins

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Rank #6: CFD 349 - Why “Where are you?” is the most important question you should ask yourself - Paul Oberschneider

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Paul Oberschneider is a seasoned start-up entrepreneur and property financier, who has personally built businesses worth over 200 million. Since 1992, he helped start a bank credit department, founded a mortgage company, and built the largest single-branded real estate company across five countries in Central Europe. He also developed a portfolio of shopping centers and hypermarkets in Eastern Europe, constructing over two million square feet of retail space. Oberschneider retired at age 49 before the financial crisis of 2008. Over the last two years, he’s grown a chain of nineteen fast food restaurants in London and is involved in the Oxford entrepreneur community, where he serves as a mentor for start-ups and is a speaker.

Feb 02 2017

45mins

Play

Rank #7: The Science of Getting Rich

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David Neagle is the bestselling author of The Millions Within: How to Manifest Exactly What You Want and Have an EPIC Life!. He is one of the architects of the coaching and personal growth industry, and has spoken or worked alongside Bob Proctor, Marianne Morrisey, and Tony Robbins.

Podcast Highlights

  • Who is David Neagle?

David was a person that was truly confused about the meaning of life. He came from a place of dysfunction in childhood and sought the answers to his questions from his teachers, parents, and mentors but no one could answer him. He ended up venturing on his own and turned into a curious kid on the wrong path in life.

He could really relate to the idea of “I don’t like what I am doing, but I don’t know what to go do.” At some point, David made the decision to follow the desires of his own heart which put him into a different emotional state, and his results soon changed as well. He wanted to set up his life so that he could do what he loved, with the people he loved.

  • Why do we feel like we need permission?

We are raised to believe that we need permission in order to advance in life. Permission is subconsciously linked to security which is something that is vital to human beings. The proper role of a parent is to turn over the power to make decisions to their children as they grow over time but many dysfunctional families end up with children taking care of the parents instead.

We live in a world of conflicting ideas and information, without a set of core values to guide us through life we begin to look for others to guide us and tell us what we need to do.

  • Questions About Suffering

Are we meant to suffer? David had a near death experience when he was younger that completely changed his perspective on life and brought a sense of urgency to his life.

David was working six days a week and couldn’t earn more than $20,000 a year and felt stuck. He was emotionally and physically exhausted while on the job one day that he had a complete breakdown and asked for direction. He received the answer “change your attitude” and decided to act like he loved what he did, do every job to the best of his ability, and treat everyone with respect from then on. Within 30 days he went from $20,000 a year to $62,000 and realized he was on to something big.

Your attitude determines your altitude.

  • The Science of Getting Rich

For years the book The Science of Getting Rich had been around David but he always thought it was a book about economics, that was until many people told him he had to read it. After reading The Science of Getting Rich in a single afternoon, he realized that it contained the answers he was always looking for.

Once he got clarity, David was able to make positive changes to his life much faster. Lack of clarity is the primary obstacle in people’s lives.

There is so much conflicting information in the world and if the information you discover conflicts with the principles you were raised with, it creates an internal battle. Until that battle is resolved, it’s impossible to get clear on your life.

  • Where did the courage to teach others come from?

David was waking up in the middle of the night for six months. Every night he awoke with the thought that if he wanted to live his dream, he had to leave, but he didn’t understand what it was that he had to leave. He called his mentor Bob Proctor who told David to just quit. He learned that the decision always comes first.

You always get what you need when you need it. You will not replay a pattern in your life that you haven’t experienced before.

To grow you have to acknowledge the desire in your heart. The conflict that comes in for a lot of people is they believe that’

Nov 08 2018

44mins

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Rank #8: CFD 362 - The Practicing Mind: Developing focus an discipline in your life.

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The Practicing Mind will teach you to unlearn the mindset that tells you that you are incomplete and that happiness is some place outside of yourself, some place other than in the process of what you are doing right here and right now. It will give you the tools you need to accomplish any task you choose and to conquer the challenges you face in life while at the same time feeling patient with yourself, your life and incredibly self-empowered.

Mar 20 2017

52mins

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Rank #9: CFD 430 - The Principles Of Real Estate Investing

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Erik Stark is an Expert Real Estate Entrepreneur, Educator, Marketer, Ubercool Dad and Dedicated Husband of 13+ Years. Erik has purchased hundreds of properties, created masterful marketing pieces, shared the stage with the top real estate and personal development educators, helped thousands of people improve their lives and continues to pour his life into people, friendships, disciplines, breakthroughs and growth.  

Podcast Highlights

  • Who is Erik Stark?

If you want to know who Erik really is you have to observe him, not just listen to his words.

Erik originally went to take the test for his Real Estate license right out of high school but after being told there wasn’t enough people in the class and the test was cancelled, he believed that Real Estate wasn’t for him. He later went on to work in an automobile detailing shop where he met up with a friend that convinced him they should go into the Real Estate business together. In the first eight months in business, they closed 35 deals and generated just under a quarter million dollars in profit.

  • What was it like when you realized you could make that kind of money?

The biggest breakthrough in Erik’s business life was when he realized he learned a new skill that he could take it wherever he went.

  • Principles of Real Estate Investing

“The man who chooses his own principles can gladly choose his own methods throughout life.” Ralph Waldo Emerson

Success and entrepreneurship is not about what’s quick and easy. It’s about a systematic approach to testing and improving your process.

  • What are your top three principles?

Stop chasing an opportunity and work a strategy instead. Focus on lead generation. Focus on your vision and don’t abandon it for something new and shiny.

There are a million ways to make money in Real Estate, but when you strategy aligns with your values that’s when you create something very special.

Once you have a team that can execute, your job becomes generating leads to keep the team working. Taking lead generation to the next level is how you can stand out in the marketplace.

Everyone questions their path every once in awhile. When you know your “why”, it will lead you to the right path towards greatness. You will never outearn your personal growth.

  • What is it in your vision that helps you push through?

There is no growth without trials. Get comfortable being uncomfortable. There is risk no matter which path through life you pick.

  • Erik’s Takeaway

You have to find something bigger than yourself that is going to help you keep it together when the negative voices start talking. Break it down to its core so you know exactly why you’re pushing so hard. With regards to Real Estate, learn it from a street level that is close to home. Have as many conversations with buyers, sellers, and lenders of Real Estate that you can.

Links:

realestatewhileyoudrive.com

therealerikstark.com

Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

Dec 11 2017

42mins

Play

Rank #10: CFD 319 - Mat Sorensen Reveals a “Hidden” Private Capital Source You Need to Know About NOW.

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Cash Flow Diary podcast guest Attorney Mat Sorensen is the guy that I was fortunate to meet and work with a few years ago. He is also the person who first introduced me to the idea of using SDIRAs, which happens to be the “most investable section of cash” available to you as a real estate entrepreneur in the world. Mat would know; he’s an author who wrote the book on SDIRA rules. He’s also a speaker, trainer, radio show host and all-around great guy!

So, what does “SDIRA” mean? Simply it means “Self-Directed IRA” and as such it means the monies in that type of account can be used to invest in properties… like YOUR properties. And it’s not all that tough to rollover or transfer monies from a traditional IRA into one that is self-directed. You can’t do it, but there are companies that specialize in that sort of thing. You need a custodian for the self-directed account. Guess what Mat helps people do?

Mat is one of people who can help people open SDIRAs, because that’s one of the things his firm advises clients to do. In fact, Mat has advised thousands of clients with self-directed retirement plan investments, because he is one of the go-to experts on the topic in the country. 

Today, Mat has established IRA/LLCs, partnerships, private offerings, corporations, and other investment structures with self-directed IRAs and 401(k)s. In addition to account owners, over the years his clients have included trust companies, financial institutions, insurance companies, hedge funds, investment sponsors, and third party administrators.

If you meet people who have self-directed IRAs, those people can invest in your deals. It pays to find out what type of retirement accounts those people you meet happen to have. And if they have a more traditional IRA or retirement account, you can help them move it to being a self-directed account… if you know who to send them to. Mat is a trusted source, because he is someone I can personally attest to that really knows his stuff. 

Stick with this episode and you’ll learn that people might be calling your IRA “self-directed” when it absolutely is not. You’ll also learn what a truly self-directed IRA is and what it can do… which is invest in real estate. There are rules, however, and you need to follow them by the letter of the law. You aren’t the one investing; your IRA is. 

This is a very educational episode, so make sure you keep a notepad next to you if you can as you listen. Mat does his best at using layman’s terms to explain the complicated stuff he does. Learn more. LISTEN NOW. 

Oct 20 2016

47mins

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Rank #11: Fearless Wealth and Living The Undiversified Life

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RC Peck, sits at the intersection of money and human behavior. For over 20 years he's helped people hear what their money is trying to tell them. His struggle with dyslexia, watching his parents' life savings get embezzled, and his background in Neuro-Linguistic-Programming (NLP), taught him to question the obvious. He now uses his ability to see what others can't see which brings clarity and insight to a world that is often described as confusing and overwhelming. His fearless wealth message is clear. Listen to your money. It's trying to tell you how to get the life you want.  

Podcast Highlights

  • Who is RC Peck?

The first answer that came to RC was a time when he was in 7th grade and taking martial arts. He was able to buy throwing stars for $2 and take them to school and sell them for $8, it was just something made sense for him to do. It just came naturally, he saw the excitement in others and the opportunity became obvious.

RC didn’t know that he was dyslexic until his 30’s, all throughout school RC felt like he was smart but his teachers and test scores told a different story. This lead him to pursuing more creative courses like art, something that came easily to him and that he excelled at. He thinks of his dyslexic journey and sees a lot of people going through the same process, but with their money. There is a form of investment dyslexia that is holding people back.

When RC’s parent’s life savings were embezzled when he was 19, that was when he realized that something was wrong with the investment world. The biggest investment mistake in the world is the belief that “I trust and like fill in the blank!” People trust anyone other than themselves to grow their money.

  • Where does the idea of diversification and fearless wealth come from?

Diversification is an idea from the 50’s, from academia before there were computers as we know them today. The idea of diversification is not inherently wrong, you will still eventually get to where you want to go, but there are probably better options depending on what your goal is.

We are never given the choice to not diversify because it is so common place we never even question the idea. Doing things that go against the mainstream current can be scary, so people rarely look at their assumptions and the common wisdom around investing.

There are only two things that humans can not tolerate, the first thing is not belonging. The second is not knowing the rules. A good parent can be much stricter, as long as they are consistent with their rules. People can even feel “good” about losing half of their investment portfolio value, as long as everybody else is losing too. People with investment dyslexia know there’s a problem, they just don’t have the words to describe it.

  • What are the words that will set us free?

The stock market is an idea that is loaded with negative emotions. When you read a headline that screams “Market Crash!”, your brain is interpreting that as a real, tangible threat. But if you look at an image of a graph of the stock market, you’ll put the whole thing in context and that can shortcut your brain’s fight or flight reaction.

We are not taught to think visually, we are taught to think in words and sentences and the whole time your brain is bringing up associated images that is driving your life. When in doubt, zoom out.

We are under attack, not by animals with claws, but from people who are paid very well that know that if they can make you angry or scared.

Simple and easy are not the same thing. The defense and offense for fearless wealth is simple but not easy. You start with an image because that will rewire your brain. It can prevent your brain from going into panic mode, and can prime you to push toward your goals. To be successful in any area, you have

Jun 10 2019

46mins

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Rank #12: CFD 303 - Kenneth D. Campbell

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Ken created and edited for 20 years an influential investment newsletter; co-wrote The Real Estate Trusts: America’s Newest Billionaires, first full-length book on REITs; and co-founded a global firm managing $20 billion in assets.

Born in the western Pennsylvania steel town of Butler, Ken received his undergraduate degree from Capital University in Bexley (Columbus), OH, and his MBA from the Graduate School of Business Administration (now Stern Business School) of New York University.  After stints as associate and news editor of House & Home magazine, he joined Standard & Poor’s Corp. as a security analyst before forming Audit Investments Inc. in 1969.  His investment advisory and editorial experiences at Audit are recounted in Watch That Rat Hole … and Witness the REIT Revolution. Now eighty-six, Ken lives with Irene, his wife of sixty-five years, outside Philadelphia.

Aug 25 2016

55mins

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Rank #13: CFD 318 - Kathleen Peddicord Tells Us to Write Our Own Story of Success No Matter Where We Live

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You wonder how the heck can you stop working your day job? This is a great episode of the Cash Flow Diary podcast to listen to, because guest Kathleen Peddicord could be considered the foremost authority on ways to get to that goal! 

Kathleen is the founder and publisher of Live and Invest Overseas, and boy… has she ever traveled. This impressive woman has lived abroad for decades. But did she ever plan the life she lives now? Not by a long shot. In fact, she says it was accidental.

While Kathleen always thought it would be neat to live in another country and had a love for castles and such, she didn’t know how she would get there. As a writer she had a very romantic idea of what that life might be like. Then something happened that allowed her to ride on the coattails of one of her bosses and mentors. She took a job that allowed her to travel and then got the opportunity to open and run a publishing business in Ireland. 

From there, Kathleen was on her way to living her dream, living and working abroad in different countries. That’s something pretty cool for a small town girl from Baltimore with big dreams of becoming a writer, a dream she had since 6th grade. Kathleen started in Baltimore in publishing, starting as a proofreader, then editor and finally becoming a writer. That opened a lot of doors for her. 

So how did Kathleen make the leap from writer to world-traveling entrepreneur? After 23 years working for one publishing company, he decided to retire. She didn’t need to work; she had saved money; her husband worked and brought in an income. That was when she was 45. Kathleen would be a full-time stay-at-home mom. At that time she was in Paris. 

Kathleen says if you’re going to do nothing, Paris is a perfect place to do it, because she was able to take 6-hour walks with her young son and on her own. She was happy, but one day at 2 o’clock while she was sitting in a park she saw a friend who asked her what the heck she was doing. That’s the AHA! moment that made her realize she needed to start a business. She walked home and talked to her husband. They decided that to make her new business a reality that they would have to move out of Paris. They chose Panama. To get the backstory on that part, you’re going to have to listen to this episode of Cash Flow Diary. The short story is that Panama is an excellent place for North Americans to start a business! Learn more. LISTEN NOW.

Oct 17 2016

56mins

Play

Rank #14: CFD 274 – How I Did My First 117 Units of Property and Beyond

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In this short Cash Flow diary podcast episode I talk about a few of the basics, like how I did my first deals (because I get the question all the time), how to raise capital and how to generate leads. What you’ll learn is to do things in a certain sequence, which will help get others to enroll in your process. It’s like planting your lands in preparation for a harvest. You have to plow the land, prepare the soil, seed it, do a few more things to keep cultivating and nurturing your crops… and finally get to the harvest. (In real estate transactions, the close of the deal is your harvest.)

In this episode you will learn about the importance of conducting the III interview (triple “I”) with everyone you want to work with. That’s because you want your buyers, investors and sellers to be in total alignment with your goals, mission and vision. If they don’t fit you can’t force them to fit. If you do, you’ll be sorry at some point down the road.

You’ll also learn how to generate leads wherever you go. Whether that’s at Starbucks or the mall or in line at the grocery store. Again, it’s like planting seeds. You don’t just plant in one spot. You spread them around so you get a big, healthy crop.

If you want a better look at generating leads in the real world, you need to check out our Lead Machine Video Course. If you do, you can actually begin generating leads minutes after taking the course! It happens all the time. (It gives you all my offline lead-generation strategies I used when I was starting out as an investor and strategies I use even today!)

You will want to take notes as you listen to this episode. It is taken from a recent Periscope session I did on lead generation. We are archiving these videos in our member area, so if you are a Cashflow Core Member you can go watch it and take screen shots of the graphics I drew in this one! (BTW, you’ll hear my kids in the background. They have taken the role of my official “heart monitors” because we’re trying to reach a million hearts on Periscope by the end of the month.) Learn more. LISTEN NOW.

May 16 2016

36mins

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Rank #15: CFD 353 - Secrets to workplace productivity and high performance with Bob Pozen

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Robert Pozen is Chairman Emeritus of MFS Investment Management and a senior lecturer at MIT's Sloan School of Management. He is also a Senior Research Fellow at the Brookings Institution and the former Associate General Counsel for the SEC. He's the author of the bestselling book, "Extreme Productivity: Boost Your Results, Reduce Your Hours".

Feb 16 2017

52mins

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Rank #16: CFD 307 - Gary Beasley Says Angels Like Entrepreneurs!

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So, is there a way out of the 9-to-5? Um, yes. That’s what you’ll learn in this episode of the Cash Flow Diary podcast from guest Gary Beasley, who took his own experience in real estate to create his own entrepreneurial thing. You’re sure to get answers to your burning questions about jumping into the real estate investing pool. 

As you might have guessed, Gary wasn’t always the real estate entrepreneur he is today who started www.Roofstock.com, which is something that allows a whole lot more people to participate in real estate investing than ever before. In Gary’s words, he’s proud to have been a part of building a very disruptive company and makes money for the investors and the employees! But he says another thing that gets him excited about Roofstock is the psychic rewards he receives from knowing he is a part of this brainchild. Gary loves what he’s doing!

Coming from a small town in Indiana, he grew up in a traditional, hard-working family where he learned the value of working toward goals. Gary said he feels fortunate not to have grown up with money, because he’s known a number of people who came from money and lacked the motivation to get out there in the real world and do anything special. Gary says that early on he knew the path he didn’t want to take was one that would force him into clipping coupons and working in a company Monday through Friday. 

Gary says that you don’t need your own money to get started as an entrepreneur. While you can’t start a company that requires a lot of capital to get it going, if you have a great idea and a well-thought-out business plan, you can capture the interested of angel investors. In fact, in his experience, investors often like the “scrappy entrepreneur” who will work really hard to make the dream become a successful, income-producing reality. 

You’ll learn a lot about courage, drive, motivation and what makes an entrepreneur great in this episode. Listen to Gary’s story and how he describes his personal journey to success, what he didn’t like about being in a business vs. helping others start businesses and creating real wealth, and why he changed his path to becoming the entrepreneur he is today. LISTEN NOW.

Sep 08 2016

40mins

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Rank #17: CFD 297 - The Path To Wealth with May McCarthy

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Since 1982, May McCarthy has helped to start and grow six successful companies as large as $100 million in annual revenues. She is a best-selling author, speaker, university lecturer and angel investor. She serves on business, philanthropic, arts and university boards. May has become successful by implementing spiritual principles into her ventures, and it is her passion to pass her knowledge on to others. She is the author of the best-selling book The Path to Wealth: Seven Spiritual Steps for Financial Abundance.

Aug 04 2016

49mins

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Rank #18: CFD 358 [REPLAY 014] - Why you need cashflow, a business, and the Cashflow 101 Board game

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Whether you buy & hold, fix-n-flip, wholesale or just live in one, home is where your story begins. Listen now, as J. Massey takes us up close and personal with Popi and Ayanna Massey to share their intimate views on the power of entrepreneurship. 

Mar 06 2017

30mins

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Rank #19: CFD 299 - Mark Rampolla Tells Us to Build Something Great by Going Somewhere No One Else Will!!

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Cash Flow Diary podcast guest Mark Rampolla is the man behind Zico Coconut Water. I’m talking about the highly popular coconut water beverage my family knows and loves!! Mark wrote a book that has to do with his journey, too. It’s titled High Hanging Fruit and it’s a recommended read.

Mark wasn’t always the trend-setting entrepreneur he is today. BUT what drove him toward starting his own business is that he was never quite like his peers. He wasn’t into the trends, but he watched them with interest. 

He also knew how to set goals. So before he chose the product he wanted to launch he needed something that would scale. He wanted something healthy and that would make people’s lives better if they took it into their bodies. After lots of research and because he happens to love coconut water, Mark and his wife decided that’s what his road to wealth and success would be. 

This success didn’t happen overnight. But then when does that ever happen in real life? He put in 9 years of hard work up front as he grew his brand. Everyone in his little company worked toward his mission. (It’s always about more than just the possible money we can make, right?) 

The great news is that Mark’s little company isn’t little any longer. Because of Mark’s dedication and beliefs about the benefits of his products, he attracted excellent talent to the company, which made growth happen naturally. 

Mark’s story is very unique… and I don’t use that word often. This guy’s energy is contagious. He has a great amount of wisdom that he shares about building a business of YOUR dreams, and if this interview doesn’t motivate you to move further toward your goals, well, I don’t know what to say. Listen in particular to what Mark has to say about “going where others don’t want to go” to get to the success he now enjoys. Learn more. Listen now. 

Aug 11 2016

43mins

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Rank #20: CFD 312 - David Essel Tells You to Release the Power Within and Let Your Light Shine for All to See!

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David Essel has helped thousands of people from around the world achieve their greatest goals in every area of life. From doubling and even tripling their income, to freeing themselves of the chains of addictions that bind them to negative thoughts and actions, to preparing themselves to experience deep and true love, to getting the body they’ve always wanted, to releasing long-held negative attitudes that started long ago in life and more. 

In this very personal episode of the Cash Flow Diary podcast, David talks about how he helps people so they can overcome deep depression and anxiety, and even emotional and sexual abuse. The work he does helps others change their lives in a very real way so they can become the person they always wanted to be, have the careers they always wanted and create dramatic success as business owners, entrepreneurs or just live a higher quality of life experiencing improved relationships with everyone in their lives. 

As a renowned expert in the field of co-dependency, David has helped thousands of individuals around the world shatter the “largest addiction known to man.” If you want to know what that is, you’re going to have to listen to this episode cuz I’m not telling. However, I will say he does this by showing others how to form a deep, personal connection with God or one’s higher power to affect lasting change. 

If you’ve ever wondered how you’re going to reach the top of the hill when you feel like your feet are stuck deep in the mud at the bottom of the valley, this is the episode of Cash Flow Diary for you. Get real with yourself. Get inspired. Make real change happen. Be the person you’re meant to be! Learn more. LISTEN NOW.

Sep 26 2016

1hr 2mins

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How to Launch Your Side Hustle with Troy Underwood

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Troy R. Underwood is an industry disruptor. Part technologist, part economist, and all innovator, he revolutionized the motor vehicle industry with the nation’s first electronic title system for financial institutions, which was later sold for $106 million. His healthcare venture, benefitsCONNECT, innovated healthcare benefits administration and resulted in a highly successful acquisition. His new book is How to Launch Your Side Hustle: Start and Scale a Business with Minimal Capital. Learn more at troyrunderwood.com

Podcast Highlights

Who is Troy Underwood? 

Troy considers himself a necessity entrepreneur and has been doing the entrepreneurial thing since elementary school. Troy has sold all sorts of products including greeting cards, seeds, and computers. Whatever the opportunity was, Troy was willing to take advantage of it.

For the average entrepreneurial minded person, the problem is having too many ideas. They need to take these ideas and pick one, then execute, and then when they get bored they have to keep pushing instead of flipping to the next one. Ideas are everywhere, execution, perseverance, and discipline is what’s rare. Even a mediocre idea, when executed well, can work out.

Troy’s original plan was to become a doctor, not an entrepreneur. It wasn’t until Troy took an economics course on a dare that he realized that he loved the study of economics and completely switched tracks. He kept up his involvement in computers and software development, and found himself in the right place and the right time to offer a solution that jump-started a business. 

Is now the right time to start something?

Now may actually be a great time to start a new business, especially for those who have been laid off with nothing to go back to. If you’ve been thinking about it for a while and you have an idea, if everything else is relatively stable, now could be the right time to give it a shot.

Being an entrepreneur isn’t an exact science, you just have to take the cards you're dealt and play them the best you can.

If you’re someone who craves certainty and security, don’t be an entrepreneur. You are able to mitigate some of that risk by being a business owner instead of an entrepreneur, for example opening a franchise which has a higher rate of success. If you’re looking for certainty, you’re not going to find it in your own business. 

Who should be an entrepreneur?

Creative thinkers and risk takers are the people who should be entrepreneurs. There is a lot of risk and opportunity cost in building a business and you need to be okay with taking that on. 

If you’re driven by necessity you are going to have much more motivation to push through the difficult times and figure out solutions to complicated problems that can keep a business running.

Why a side hustle instead doing something BIG?

Troy compares a side hustle to a rocket ship launch. It’s not just about keeping a side hustle, it’s about building something that you know will be big eventually, something that replaces your full time job in time and is worth investing in.

For Troy, it’s not abou

May 11 2020

37mins

Play

Be Your Own Banker and Grow More Wealth with Mark Willis

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Mark Willis, is a CERTIFIED FINANCIAL PLANNER™, a #1 Best Selling Author and the owner of Lake Growth Financial Services, a financial firm in Chicago, Illinois.  Over the years, he has helped hundreds of his clients take back control of their financial future and build their businesses with sophisticated, tax-efficient financial solutions. 

Mark Willis specializes in building custom-tailored financial strategies that are unknown to typical stock-jockeys, attorneys, or other financial gurus.  As co-host of the Not Your Average Financial Podcast, he shares some of his strategies for investing in real estate, saving and paying for college without going broke, and creating an income in retirement you can’t outlive.

Mark Willis works with people who want to grow their wealth in ways that are safe and predictable, become their own source of financing, and create tax-free income in retirement.

Podcast Highlights

Who is Mark Willis? 

Mark’s college years are where the story begins. It was then that Mark met his future wife as well as the first woman they rented a room to. The year that they graduated school was 2008 and they left with $120,000 in student loan debt. With no jobs in the middle of a recession that was a big problem. Over the next few years the goal of Mark and his wife was to figure out a way to build true wealth and be better than debt free. 

Since then Mark has learned how to become the banker in his own life and become financially immune to recession.  

What was the plan you were thinking about going into school pre-2008?

Like many students, Mark assumed that the money would keep on coming and didn’t think too much about the future. Studies have shown that the area of the brain associated with our future selves is the same part of the brain that’s associated with thinking about strangers, and how much are you going to save for a stranger’s retirement?

The problem is not just the 18 year olds being handed thousands of dollars of student debt, the entire country has been on a trajectory to become a nation of debtors for generations. We have become a nation enslaved to bankers, credit cards, and debt and it’s not the interest that’s the problem, it’s the volume of debt that we are carrying around.

Unfortunately the current crisis has hit us at a moment in history where we are completely unprepared for it at a financial level.

Mark didn’t graduate with a finance degree and their journey began by taking baby steps towards becoming debt free. They went lean and put as much towards their debt as possible while also doing whatever they could do generate additional passive income. Figuring out the money situation became such a passion that Mark wanted to dive into on a professional level and started working for a CPA in the midst of the Great Recession. That was when he realized that the whole financial industry was a house of cards.

Where is it written that we have to put all of our money into things we can’t access, have no control over, and multiple people with our hands in our pockets? The moment where things completely changed was when a mentor of Mark’s suggested that the path most people follow could be wrong. 

What needed to be different from what you were previously doing?

There were two things. The first was taking action immediately instead of waiting for the perfect conditions. You might make a few mistakes but it’s better tha

May 07 2020

37mins

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Contact Marketing Secrets: How to Get a Meeting With Anyone

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Stu Heinecke is the Hall of Fame “Father of Contact Marketing" and Founder/President of the Contact Marketing Agency and Cartoonlink, which helps sales teams break through using contact marketing solutions to produce critical contact with accounts and prospects. He is a longstanding senior cartoonist for the Wall Street Journal and the bestselling author of How to Get a Meeting with Anyone: The Untapped Selling Power of Contact Marketing and the new book Get the Meeting!: An Illustrative Contact Marketing Playbook. 

He hosts Contact Marketing Radio and the How to Get a Meeting With Anyone podcast, and is Co-founder of Cartoonists.org, a coalition of famed cartoonists dedicated to raising funds for charity, while raising the profile of the cartooning art form.  

Podcast Highlights

Who is Stu Heinecke? 

The ability to get meetings with anyone is a kind of superpower. Every great thing that happens in our lives is due to having the right connections at the right time. Stu studied marketing at USC but cartooning had been something that he always loved, so much so that by the time he was in college he was getting some of his work published in the newspapers in Los Angeles.

Cartoons have an incredible power to captivate people’s attention so they became a fundamental element to Stu’s marketing strategies. 

Back in the early days of marketing, David Ogilvy used to say “humor doesn’t work in advertising, and people don’t buy from clowns.” Stu was one of the people proving him wrong. Initially there was a lot of resistance against the idea, but Stu was able to convince a couple of his first clients, including Rolling Stone, to give it a try and they ended up getting extraordinary results.

Contact Marketing

In marketing you are always testing a new campaign against a control group, usually the most effective thing the company has ever put out. Stu’s first test campaigns beat out the controls of both Rolling Stone and Bon Appetit and became their new records. He realized that he needed to reach out to some of the key players in the magazine industry and sent each of them a customized cartoon. Most marketers use the 1% rule to measure a response rate against the performance of a campaign, for Stu’s campaign he got a 100% response rate, and they also all became clients of his, so his conversion rate was 100% as well.

That initial contact marketing campaign launched Stu’s business and career.

How can we cut through the noise with contact marketing?

Contact marketing is not just about cartooning, that’s only one way of breaking through. 

One of Stu’s favorite contact marketing examples involves a guy named Dan Walshman. Dan is a turnaround specialist and works with CEOs of companies that are in trouble. After combing the business news each day looking for earnings reports, when he finds one that looks to be suffering he gets a beautiful sword created that’s engraved with the CEO’s name on it. He sends that to them with a handwritten note and has been getting a 100% response from that campaign

Apr 23 2020

52mins

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Creating Passive Income with Chris Miles

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As founder of Money Ripples, host of The Chris Miles Money Show, and co-author of the book Entrepreneur on Fire, Chris Miles is a leading authority on quickly creating wealth by increasing monthly cash flow and creating passive income. He has shown hundreds of thousands internationally how to free up or generate tens of thousands of dollars each year! Chris has been featured in US News, CNNMoney, and Bankrate.com and has a reputation for getting his clients fast, proven results. 

Many of his clients have the option to retire in less than 5-10 years, and Chris himself was able to retire twice by age 39! Chris’s passion is helping entrepreneurs, and high-income employees become financially prosperous by finding and fixing their money leaks and creating passive income.

Chris and his family live in Utah, but enjoy escaping to warmer weather during the winter months. In addition to helping his clients increase their cash flow, Chris is a talented ballroom dancer, choreographed ballroom dance routines for Utah Valley University, and got 5th place in his third grade spelling bee. 

Podcast Highlights

What’s going on in your world today? 

Since the last time Chris was on the show nearly five years ago Chris was able to retire for the second time in his life. The first time he retired was at the age of 28, this time around at the age of 39 Chris was looking for something new. He never wanted to be full time again and as an educator at heart Chris continued working on his podcast and teaching people the same strategies that he used.

Chris is looking at the current situation in the world and seeing all the opportunities available to those that have been prepared.

Preparation

The previous recession caused Chris a lot of problems and that’s when he learned the key lesson of never relying on only a few streams of income, because when those get shut off you’re out of luck.

Chris has a number of clients that are currently unable to work but because they have set up multiple streams of income beforehand they are able to ride out the problem. 

If you weren’t prepared for the coronavirus, you need to do whatever you can. So many people have no idea what to do right now it’s like they’ve been stunned. There are several areas that people are not taking advantage of their money right now. One is the money in mutual funds and retirement plans, people pouring more money into the stock market right now are making a big mistake.

What should people do right now?

Get lean, get liquid, and get out. Even during the great depression there were people that prospered and those that did were the ones who got lean and were looking for opportunities. Liquid cash is where you want to be right now, having enough cash on hand to weather the storm is crucial. Money never comes from the government in the time you expect so don’t rely on them for help right now. 

If you have time, start looking for ways to create value and make money. That could be short term rentals or other forms of real estate.

Creating Passive Income

The one big mistake that Chris made in the prior recession was in aiming for growth instead of plain old cash flow. The result was he went way too big on his deals and ended up losing the properties. This time, instead of going for sexy Chris went for certain.

The trouble is flashy $80,000 che

Apr 20 2020

37mins

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Conquering Corona With Kyle Stanley

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Kyle Stanley is the host of the Fearless Flipping podcast where he educates new hungry real estate investors about best practices for getting started. We flip the roles into today’s episode with J being interviewed for Kyle’s podcast. Find out how J is conquering the coronavirus and adjusting his short term rental business to be even more successful than before. 

Podcast Highlights

How did you get to this point and what brought you into the short term rental business? 

The keyword for J is cash flow, everything he’s done in terms of business is around generating an income without physically going to work. Due to some very challenging physical ailments where both J and his wife were unable to work and earn money, they needed to figure out a solution which is what led him to real estate. Everything he should have been doing should have been geared towards creating cash flow.

The next two years were transformational for J’s business. He had no money, terrible credit, no way to earn an income, and was selling his possessions on eBay when a friend recommended he start investing in real estate. His friend didn’t let those obstacles stop him and in a relatively short amount of time J closed his first subject-to deal.

How did you find your first deal?

You need to move at the speed of instruction. We need to be more like Walmart. Walmart perfected just in time inventory, we need to perfect just in time learning. There are certain parts of a real estate transaction that you don’t need to know yet, you need to learn the first step and then go out and take that step. There is no real benefit to understanding everything before you take any action. 

Trust yourself to learn what you need to know when you need to know it and go out there and take action. That’s exactly how J found and put together his first deal, one piece at a time.

Real estate is a skill the marketplace rewards. We can all learn to play the real estate game once we’ve been told the rules and practiced a bit. Within 3 weeks of closing his first deal J closed an additional 10 deals in the span of a week, which was a complete mindset shift for him.

Fear is what holds all of us back, but we like to tell ourselves that we’re just being prudent. When you’re afraid any excuse will do. You have to ask yourself has anyone overcome the thing you’re afraid of because if that’s the case, the fear is not an excuse. 

How are you operating right now?

Most short term rental operators think about the business incorrectly and they need to understand what the problem actually is. Changing your thinking from “I have an Airbnb business” to “I have a short term rental business” will unlock your mindset and allow you to see new opportunities.

The short term rental business has existed since the American Civil War. When the coronavirus hit, J’s business took a significant hit but that hasn’t removed the need for what his business provides. 

J’s business is still on all the marketplaces like Airbnb and Booking.com and he’s now adding additional channels that he planned on including later in the year. He’s also increasing the amount of online advertising he’s doing and offering coupons and discounts to previous customers.

At the end of the day it comes down to whether you understand the problem. It’s not like the business is bad, it’s just that the person with the need doe

Apr 16 2020

36mins

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Protecting Your Assets In A Changing Marketplace

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Let me introduce you to Scott Smith, a new breed of real estate attorney with a great sense of humor and a gift for simplifying the complex. His Austin startup, Royal Legal Solutions, has a different take on protecting your assets including real estate investments and already serves thousands of clients across all 50 states.

As a former litigation attorney, Scott has a deep understanding of how lawsuits really work. More importantly, he is a real estate investor himself, with property in 10 states. Now he’s sharing his information with the world and is committed to helping other real estate investors protect their futures.

Podcast Highlights

  • Who is Scott Royal Smith? 

At the heart of it all, Scott is a guy that likes to solve hard problems and then show people the solutions he’s found. He can then connect with people in an empathetic way and help them make positive changes in their lives. 

Spiritual development is very important to Scott, the biggest KPI that Scott focuses on is his sense of well being and how he shows up in the world. Awareness of your own being is the only way to connect with other people. It doesn’t matter how great your ideas are unless you can connect with what’s true with somebody else.

Scott’s mindset was passed down by his mother who taught him that there are two types of people in the world, people who think things happen to them and people that think that things happen for them. When life happens for you, you have a responsibility to reflect on and grow from your experiences.

  • Why did you choose to become an attorney?

Scott started his career as a litigator suing insurance companies with the overall goal of trying to change the industry. One thing he found along the way was you have to be really careful about what you want because you just might get it, and if it turns out you don’t like it you’re in trouble.

Scott had been investing in real estate at the same time and was making more money investing than he was in his career, so he just decided to make the switch on what he was focusing on. It was in the process of learning the real estate investing ropes that he encountered a bunch of interesting problems that a lot of people were constantly asking about and that was the seed for Royal Legal Solutions. Now he teaches people how to make complex real estate investing problems simple.

Scott doesn’t consider himself an attorney now. He may hold a law license, but what he does now is focus on helping investors.

  • From a business owner perspective, what are the things that we should be thinking about but are overlooking right now?

Real estate investing is also a business once you get to a certain point and protecting your assets becomes absolutely crucial. The things that impact business owners will also impact real estate investors.

The first step is to tap into any established lines of credit you have. Long term secured debt is ideal with low interest rates. Pull out as much cash as you can because we don’t know what’s going to happen with liquidity markets and they are probably going to seize up. If they do and you have cash, you will have money on hand to take advantage of opportunities that come up. If

Apr 13 2020

46mins

Play

Public Speaking Tips and Strategies with Jacqueline Nagle

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With a diverse career crossing professional services, mining services, civil construction, manufacturing, industrial relations Jacqueline has used  public speaking-centric strategies extensively to launch, pivot and manage both growth and crisis across all of those organizations.

For 15 years Jacqueline has successfully trained consultants, professionals, business owners, executives and the C-Suite in public speaking, sales, presenting, core messaging, negotiating and positioning, before turning her attention more specifically to the craft of speaking in early 2017. Since then Jacqueline has worked with 100’s of emerging and established speakers across Australia and the USA.

Jacqueline’s training has been delivered to some of Australia’s major corporate brands including Tattersalls (The Lott) and Anglicare, and her programs have been picked up by the Australian Institute of Sport Gold Medal Alumni Program in Canberra, and she has recently been awarded Certified Speaking Professional.

Podcast Highlights

  • Who is Jacqueline Nagle?

Jacqueline is a girl that had a plan for her life, one that involved becoming a lawyer in New York. But life happens and in her early 20’s she moved to Melbourne and fell into a job in recruitment where she discovered she loved the work. What originally started out as a temporary six week position turned into a sixteen year career.

Much of Jacqueline’s later success can be attributed to all the different things she learned in that career. It was where she found her first mentor and learned that one of the best ways to excel is to be insatiably curious and constantly learning. Her mentor also instilled Jacqueline’s love of story for conveying lessons and that became the foundation for how she operates now.

Jacqueline’s moment where she decided to venture out on her own occurred after she made herself redundant as CEO at a company she was working at. After a three month transition period, Jacqueline was in her early 40’s and had a moment to consider what she really wanted to do. She tapped into her love for public speaking and decided to go to every speaking event within a 50 km radius. That was when she found that there are actually very few good public speakers in the world and that something was missing. She put together a pilot program and got some great success teaching people that they have something powerful to say and when they know how to say it, they can create something powerful as a result.

  • Plans Change

Sometimes our plans change, but that doesn’t mean that the goal stops existing, just that the way you get there becomes different. For Jacqueline, she didn’t become a New York lawyer but she found that the skills she learned over the course of her career allowed her to operate similar to a lawyer. It wasn’t until she realized that was she comfortable with the fact that her plan had changed.

We need to recognize that this is a moment in time, and it may be hard and difficult and your path may change, but the goal is still there. We have to let go of follow a rigid path and adapt to changing circumstances. The thing that we love to do and the way that we bring value to the world hasn’t changed.

  • What does it mean to honor the audience’s time?

Even if you’re speaking for free you have to honor your audience’s time because they are giving you their most precious commodity. You have to be there to serve, not to be self indulgent.

You have the privilege of the platform when you’re speaking. Explain to people what you know to be true about the world through story and give them something of value.

Storytelling is not about you, it’s about creating belief and trust and connecting with the people in front of you at an unconscious level.

  • How can today’s entreprene

Apr 09 2020

45mins

Play

What To Do When The AirBnB Business Changes

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Kyle Stanley is the host of the Fearless Flipping podcast where he educates new hungry real estate investors about best practices for getting started. Kyle is also a master with AirBnB and believes it's the best form of almost-completely-passive income in today's economy. 

Podcast Highlights

  • Who is Kyle Stanley? 

Kyle doesn’t like the term “serial entrepreneur”, he prefers the idea of FOCUS (focus on one course until success). Kyle had to make a lot of adjustments over his career based on his skills and what he enjoyed. Kyle started out as a sports anchor in Colorado for a local news station, started a sports videographer company, and moved into the MLM world where he got his first taste of the idea of passive income.

In 2018, Kyle’s dad’s health took a turn for the worst and ended up in a hospice which led to Kyle slowing down and reflecting on what he really wanted to do with his life. He began to listen to podcasts on real estate investing and found the idea to really resonate with him which was how he ended up getting involved with fixing and flipping homes.

Coincidentally Kyle had been house hacking his home with an AirBnB business without realizing that that it would also count as working in real estate. Once he really started to look into what else he could do with an AirBnB business, Kyle went from earning $1000 a month to $15,000 a month over the span of five months in 2019. Even in the days of the coronavirus Kyle’s short term rental business is still doing very well.

  • Why videography?

Being a sports anchor means being a one man band so Kyle learned a lot of different skills as part of the job. He also learned that he didn’t particularly love being on the news and he saw an opportunity to make videos for athletes to help them get into college. He took what he learned working in news and put it into a business that he believed he could thrive in, but lacking mentorship at the time was a serious downside.

  • The Passive Income Transformation

Kyle hadn’t even heard the words passive income until he was 26 years old. Kyle’s model for entrepreneurship was his father who ran a very successful business, but running the business meant extremely long hours. When Kyle got older he realized that his father was a slave to his business, something Kyle did not want to be, and it wasn’t until Kyle started working in the MLM did he get exposed to the idea of outsourcing and making a business more passive.

Getting around people on a higher level that had learned how to create systems that can automate income is what first changed Kyle’s mindset around business. The missing piece was something that he was passionate about and real estate ended up being the key.

Kyle now helps more people in the short term rental industry than he ever did pushing vitamins and supplements.

  • The Allure of Real Estate and an “AirBnB Business”

The big thing for Kyle when he got started flipping properties was helping people get a better return on their money. Creating all the job opportunities at the same time was a nice bonus as well.

Kyle is also a numbers person, so analyzing a deal and crunching the numbers makes him excited. When he started looking at AirBnB as a business and he found that he could make $20,000 to $30,000 on one project,

Apr 02 2020

36mins

Play

This Is Your Defining Moment with Chad Peterson

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Chad Peterson is an expert business broker and the founder of Peterson Acquisitions, an award-winning M&A firm. Chad’s firm handles transactions in the $1 million to $25 million range, with some deals exceeding $25 million. 

He works with companies all over the United States and has completed international deals as well. Peterson Acquisitions was recently named by one publication as the #1 ranked business broker in the United States. What sets Chad Peterson apart from all other business brokers is his aggressive style, work ethic and tenacity that are rooted in his humble beginnings. 

Chad Peterson is a self-made entrepreneur that has been in the trenches. He has started, built and sold 6 of his own businesses. Chad wrote the book “From Blue to White: A Working Man’s Guide to Self-Employment”. Best-selling author Scott Alexander of “Rhinoceros Success” wrote the foreword. He also wrote the book “Swinging Doors: A Guide to Selling Your Business” and is the host of the podcast:Business Brokers: Buying, Selling & Growing Businesses

Podcast Highlights

  • Who is Chad Peterson? 

If you study people who are driven you will always find a point in time where it all began. For Chad, he grew up in a tumultuous house with a difficult upbringing and early on his defining moment was realizing that he had to do things on his own. In his words “if it was meant to be it was up to me.” He worked hard as a kid, earned his own money and quickly enough people started to recognize that and praise him for his effort. 

As a natural entrepreneur, Chad had difficulty in school and found himself in the work program. He eventually became a commercial pilot but that career was cut short by 9/11 and he quickly went back to his entrepreneurial roots. He built several companies and sold them over the next few years until the second inflection point of his life.

In 2008, Chad had built a company that had 120 employees and was making $7 to $10 million a year. The trouble was the company was in the subprime mortgage industry and was completely destroyed by the crisis. In only a few short months, Chad went from a millionaire to broke. Instead of being defeated, Chad picked himself up and built a different company selling home services and things carried on. Eventually people started asking him how to build and sell businesses, which is how Chad ended up where he is now and a top business broker in the United States.

  • The Impact of Mindset

Chad feels that his mindset of his life being up to him is responsible for at least 85% of his success. When you’re hungry in your soul, you will make things happen. Success is survival, and for Chad if he doesn’t feel like he’s progressing he feels like he’s dying.

  • Why $700 to $1000 a day?

Home services between $700 and $1000 are still affordable for most Americans, even during a recession. By going for volume instead of a high price tag he knew that more people would take him up on his offer. During hard economic times, volume will beat out margin and a steady flow of income is important to keeping things going.

  • Taking Risk When There Is Fear In The Marketplace

There are people who act now that will make a huge amount of money during this crisis. It may seem logical to wait when you’re afraid or uncertain, but that’s what kills an economy. We are in a collapse scenario and fear is only going to

Mar 26 2020

41mins

Play

GoodEgg Investments Founders Talk Real Estate Syndications

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Annie Dickerson and Julie Lam are the co-founders and managing partners of Goodegg Investments, a premier real estate investing company that helps people learn about and invest in real estate syndications (group investments).

They are both moms (Annie has 2 kids and Julie has 3) and are passionate about helping other families build passive income so they can spend more time with the people they love, doing the things they love, and living a life by design. 

Podcast Highlights

  • Who is Annie Dickerson and Julie Lam? 

Annie started as an elementary school teacher and after setting out to buy her first house with her husband she was exposed to the idea of house hacking. They purchased a row home, something pretty common in DC, and rented out the bottom portion to help pay down their mortgage. After that experience they started looking at investing in other properties out of state, and that later developed into property syndications and getting to know Julie in the process.

Julie started investing in real estate in 2009 with her husband. They purchased a number of properties in the Bay area and as the market started to mature they sold off a number of those properties in 2013 and 2016. It was then that Julie started to really think about the best way of investing that will work the hardest for her lifestyle. That’s when she realized that investing for cash flow could be the solution. She quickly realized that that’s a long term strategy and she wanted to be able to scale. That led her to the idea of getting into passive investing in multifamily real estate with syndications.

Julie and Annie met at a real estate conference and being among the few women at that conference, they hit it off. Partnership wasn’t discussed at that point but as they got to know each other and found that they each loved complimentary facets of the business, partnering up seemed like a great idea. Annie loves the content creation and education portion of the business and Julie loves the deal making and negotiating aspects, so they work very well together.

  • Why GoodEgg Investments?

GoodEgg is about building your nest egg and investing for good. It’s not about just putting your money to work for you, it’s also about leaving a legacy for your family and having a positive impact on society.

Coming up with a business name can be a major challenge for new entrepreneurs. The process that Annie went through involved looking at the existing names of businesses in the space, and then thinking outside the box to try to find something really unique. The idea behind the name and the concept was what really brought Julie on board.

  • Creating Content As A Real Estate Investor

Before working Annie, Julie spent a huge amount of time on the phone with potential investors answering the same questions over and over again. What was missing was a better thought leadership platform that allowed people to get to know them. After establishing their platform and making content creation the foundation of the business model, those conversations became much easier as the investor often felt like they already knew them, liked them, and trusted them.

Mar 16 2020

50mins

Play

The Power of Mighty Networks with Gina Bianchini

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Gina Bianchini is the Founder & CEO of Mighty Networks. Her mission at Mighty Networks is to usher in a new era of creative business built on community. Mighty serves “creators with a purpose” selling experiences, relationships, and expertise to their members via community, content, online courses, and subscription commerce–all offered in one place under the creator’s brand. 

Before Mighty Networks, Gina and Netscape co-founder Marc Andreessen launched Ning, a pioneering global platform for creating niche social networks. Under her leadership, Ning grew to ~100 million people in 300,000 active social networks across subcultures, professional networks, entertainment, politics, and education. 

In addition to Mighty Networks, Gina serves as a board director of TEGNA (NYSE: TGNA), a $3 billion dollar broadcast and digital media company, and served as a board director of Scripps Networks (NASDAQ: SNI), an $12 billion dollar public company which owns HGTV, The Food Network, and The Travel Channel that merged with Discovery Communications in 2018. 

Podcast Highlights

  • Who is Gina Bianchini? 

The seed that ultimately became Gina’s mission in her work was growing up in a time and place and a family of incredibly curious people. Gina’s father had a passion for restoring old cars and her mother was always curious about the world around her, so much so that Gina can’t remember a time when she wasn’t reading a book. 

Growing up in Cupertino gave Gina incredible opportunities because she found herself surrounded by people who would go on to be involved with things that would become LinkedIn, Facebook, and other major social networks. It was then that her friend came to her with the idea to create a new platform that gave people the ability to create social apps the same way they could create websites. 

The common thread in Gina’s work has been the realization that people are awesome. Being able to bring people together around an interest or passion or goal is something that unlocks people’s abilities to create and participate in the world. One of the most powerful ways to go from point A to point B is through connecting with other people.

  • What is so different about Mighty Networks?

Gina has a very specific definition of community that helps describe what she is doing, namely “bringing people together to master something interesting or important together”. The real power is when there is a person leading a community and curating it to create those conditions of mastery. 

The network is the evolution and refinement of what’s going on at the intersection of online courses, podcasts, and communities. When you move away from thinking about all of those as separate pieces and start thinking your mission is to create the conditions for people to master something interesting together, that’s when the magic happens.

People are craving transformation in their lives, and being able to master something interesting is how they do that. If they could do that on their own by reading a book, they would, but that isn’t always the case. That’s why they pull out their credit card and pay for courses and communities. People will pay a premium for being a part of courses or communities that master som

Mar 12 2020

54mins

Play

Jimmy Murray and the Power of Visualization

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How do you house hack your way to financial freedom with hardly any money down? How do you build a best-in-class property management company? What is the best day to do a home inspection? What does it mean to be #rentready? Jimmy Murray has all the answers and he is ready to share them with your podcast listeners today. 

Over the past ten years, Jimmy’s multifamily real estate investments have blossomed into a successful property management company, Lyon Property Management Group. An investor himself, Jimmy intimately understands the needs of an investor landlord. And that’s why Lyon Property Management is tailored to the multifamily investor.  

Jimmy is also an investor educator along with Lyon Property Group co-founder Frank Patalano. Jimmy and Frank host a podcast called The Cashflow Kings where they have been known to pass out free golden nuggets of real estate wisdom. 

Podcast Highlights

  • Who is Jimmy Murray? 

Jimmy Murray was always a thoughtful kid but he also had an entrepreneurial tilt. Real estate didn’t come along in Jimmy’s life until 8th grade when he wrote a letter to himself where he imagined what real estate and stocks he owned by the time he was finished high school. Jimmy tends to over analyze everything, which fits perfectly with his INTJ Myers-Briggs result.

  • Acorn Theory

Jimmy Murray recently learned about Acorn Theory, where we all start as a small acorn with a guide that helps us grow into a massive oak tree. Sometimes it takes longer to accomplish that, but your goal should always be to realize your oak tree potential. For Jimmy, he didn’t know what the path was that he would take, but he knew that Real Estate was going to be the shape of things.

It doesn’t matter where you start, it matters where you finish. Jimmy’s degree which helped him land a job at a well respected financial firm came from Ohio State University, but he started off in a local community college. His original strategy was to get a job on Wall Street, make a pile of money, and then invest in real estate but it didn’t work out that way. Instead, he found himself failing the CFA exam and being forced to decide whether to invest more time and money in passing the test, or just jumping into real estate and buying his first multifamily property. 

Small, daily habits are the foundation for long term success. Progress happens a little bit each day, your goal shouldn’t be to get there immediately. Failures are the stepping stones on your way to success. Sometimes your closest mentors will tell you not to pursue your dream goals, but if you believe in it enough you should be willing to chase what you want.

  • Is there anything you wanted someone to say to you when you were starting off?

Not everyone is going to believe in your vision along the way, but as long as you do, no one else has to. Jimmy wouldn’t change the way things played out when he decided to get into real estate.

  • Why did you go into property management?

When Jimmy Murray bought his first property, he also started wholesaling with the belief that wholesaling would be the way he was going to escape his cubicle. Despite being an

Mar 09 2020

36mins

Play

How Much Money Can I Make With Short Term Rentals?

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We’re exploring the question that almost everybody considering short term rentals asks, how much money can you make with a short term rental unit? The answer may surprise you. We’ve also got a recent Roadmap student on the line to tell us about their experience in securing their very first units, and yes, that’s plural, as in multiple units their very first deal.

  • The Cashflow Diary Roadmap

J and the Cashflow Diary are dedicated to providing hands on and direct training to students that want to create their own six and seven figure short term rental businesses. 

Members get access to hundreds of hours of content covering every aspect of building a short term rental business including cash flow, negotiations, operations, lead generation, seller financing, and more. Everything you need to develop the skills you need to become the bravest entrepreneur you can be.

The content is one thing, but knowledge alone isn’t going to get you to your goals. That’s why the program is designed with hands on training and accountability built in, training that shows you how to use expert tools expertly.

As Roadmap members you get access to every course and training J has produced over the last several years, some of which people have paid upwards of $5000 for, but you also get assigned a dedicated accountability to make it all happen. They will take you on a 12 month transformational journey through all three phases of the short term rental business, holding your hand each step of the way.

Members are also the first people who will get access to the Cashflow Diary app which will tie everything together. The app will connect the content and the community in a way that we’ve never been able to do before.

When it comes to short term rentals, things change every 90 to 120 days. Your customers will change, there are high and low seasons, and there’s always something new to learn. This is why the accountability coach is so important, they will make sure that you stick to the plan and hold you to accomplishing your goals.

  • When I got started I set a goal of getting 10 units a year, and have had some interesting interactions with landlords so far and I may have to reevaluate my goals.

This caller just started their entrepreneurial journey and ran into a little opposition right off the bat, but that quickly turned into an opportunity to pick up 3 units right now, with the potential to pick up an additional 40. He used the scripts exactly as provided by the training program to get to his first game changing yes.

In doing the research for his area in preparation of setting up his business he found that the other short term rental operators are barely putting in any effort at all. After having some conversations with people, he was asked to join a local BNI group and speak on what he’s doing with short term rentals and has been generating a lot of excitement around the whole idea.

  • How much money can I make with short term rentals?

Go to rentometer.com and enter in whatever address you think may be a good spot to open up a short term rental unit. Whatever the rent number that comes up, multiply that number by 2. That’s a conservative number for the rest of your calculations. 

A good rule of thumb is that you can expect to earn around $800 per bedroom each month. You do have to keep in mind however that your firs

Mar 05 2020

45mins

Play

The Short Term Rental Entrepreneur’s Roadmap To Mastery Q&A

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You’ve tried reading a book and watching a video, you’ve also probably tried going to a couple conferences, and the trouble is that’s not enough for you to make transformational changes in your business. That’s why J developed the Cashflow Diary Roadmap program, to provide short term rental entrepreneurs the hands on training and accountability they need to succeed in this business.

Questions and Answers

  • A question about wholesaling a property 

Inside the wholesaling course within the app is enough information to walk through everything you need to know when it comes to marketing and closing a wholesaling deal.

The more important point is that when you are on the path of becoming a short term rental entrepreneur, you have to stay focused on short term rentals. You’re not going to get the success you want by constantly being distracted by other deals and opportunities. You need to focus on achieving a specific result, and members of the Cashflow Diary Roadmap are held accountable to those results.

If you chase two squirrels, both will escape. It doesn’t mean the other squirrel isn’t valuable, but you need to focus. As you learn more, you will begin to see more opportunity, and that may actually become one of the biggest challenges for the accountability coaches. Their job will be to keep you on track so you can keep making progress instead of constantly starting new projects without finishing them.

  • If we want to purchase an apartment for short term rental purposes, how are we going to make the bank recognize the performance and count as part of the income?

You’re going to work with your CFO so you can get the correct type of financial statements together so that it ties into your tax return properly, but also when they are going to look for the raw data obtained from your bookkeeper, everything matches.

The first step is to get a bookkeeper if you haven’t done that already. If you can’t present clean and accurate financial statements yet, there is no reason to talk to a bank.

  • Is the “Add tax” feature on AirBnB additional?

It is and the challenge with the feature is that it’s being done automatically for some people and not for other people in different areas. This can actually put you at a disadvantage in the search results.

  • Got my first booking, what application should I be using to communicate with my guest?

It comes down to setting up a separate email address that everyone on the team has access to that allows the team to communicate with guests directly. There is always a new pricing tool in the works that we are going to be talking about shortly that allows us to unify communication with all the different platforms.

  • When the Q&A’s move to the app, are you going to make announcements when the transition happens?

Yes and keep in mind that nobody is losing access to anything, only the platform and delivery mechanism is changing. Putting everything on the app will allow members to communicate with each other much more easily and that means we all get to take advantage of the increased network effects.

  • Always make sure a property works as a long term rental as well as a short term rental. What do you think of that advice?

The real question

Mar 02 2020

2hr 1min

Play

Move At The Speed Of Instruction Q&A

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Humans don’t transform overnight. Most people can’t just read a book or watch a video and completely change their life immediately. You’re not going to be able to pick up a bunch of short term rental units right away. That’s the reason that J developed the Cashflow Diary Roadmap, the Roadmap is a program that combines an immense library of content and training and accountability coaching to make sure you achieve your short term rental goals.

Questions and Answers

  • Moving at the Speed of Instruction 

When you’re moving at the speed of instruction, you don’t have the time to question your capacity to do something. With a little bit of trust and follow through, you can accomplish more than you would believe is currently possible.

Humans tend not to value as much as they should. If you want to achieve anything worthwhile, you need to be willing to fail. Fail frequently, and fail forward. 

One of the things about schooling that prevents you from getting ahead is the belief that you must learn everything in the program or book before you are qualified to act. It’s much more effective to read a chapter, then put the book down and put what you learned into action. You will get much more out of what you learn by combining it with actual experience.

  • How do we secure POE cameras to prevent them from unplugging?  

The cameras that J recommends are hard wired directly into the electricity of the house so they can’t be unplugged. In the case of the caller, the installer didn’t run the wire through the walls so the simple solution is to bring them back in and redo the installation.

  • I currently have a couple short term rental units and trying to figure out where to be next, where should I be looking?

New Jersey is a good place to look since it’s one of the most short term rental friendly states in the country. 

  • I’ve been talking to a couple of landlords but have been having trouble conveying what we do, how do we approach this conversation?

If a landlord has concerns about the number of people that are going to be staying in their unit, the key is to assure them that you screen guests just as thoroughly as they do and care just as much what kind of guests stay in the unit. Talk about the fact that you are always available because of your systems that you have in place and that it’s more common for you as a short term rental operator to have issues with long term tenants than they will have with your guests.

Avoid telling the landlord the range of the number of people who could potentially stay at the unit, it’s better to describe a specific use situation so they can easily imagine the kind of guest you are describing.

They don’t know that you have the capacity to screen people just as well as they do, so you have to be able to communicate that in a way that makes them feel more secure about doing business with you. If something does happen, you can also tell them the systems you have in place allow you to remove a guest from the property and involve the authorities if necessary much faster than they could due to the restrictions around their business model.

Being detached from the outcome is also very important. If that particular landlord doesn’t take you up on your offer, that’s okay. You can move on to the next l

Feb 27 2020

1hr 19mins

Play

Short Term Rental Math and Your Magic Number

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How would it feel to earn an entire year’s salary in only one month? When you understand the power of a short term rental business and crunch the numbers involved, the path becomes clear. J is going to break down everything you need to know about your Magic Number and how the Cashflow Diary Roadmap can help you achieve your business goals.

  • If your short term rental business magically tripled overnight, how much more time would you have to spend running your business? 

If your answer is anything other than 0 extra time to deliver your service, you’re not operating as efficiently as you could. You’re not earning the highest revenue, or your expenses are higher than they need to be, or you’re investing too much of your time into delivering the service.

With the right systems in place, you will be able to deliver more value to the marketplace without having to spend more time doing it. If the thought of your business tripling in 24 hours causes you anxiety around a particular area, that’s where the broken system is. 

The more systems you implement the more reliable and consistent your business becomes.

  • Your Magic Number 

Math equals money. The one way you can measure how much money one unit can make compared to another is a metric called Revenue Per Available Room, also known as RevPar. To calculate your RevPar, you take your average daily rate and multiply it by your occupancy. This gives you a metric that tells you how much you’ve earned per day, per room.

The occupancy rate for the entire hotel industry in 2019 was only 66.1%. The average daily rate for those hotels was $138.21 per stay.

The average Revenue Per Available Room for hotels in 2019 is $86.76. The average customer review score for those same hotels was 80% with Marriott and Wyndham being tied for first place since 2008. 

To compare, J’s numbers for 2019 was an occupancy rate of 70.17%, an average daily rate of $128.34, a RevPar of $90.26, and average customer review score of 92.55%.

Think of all the things that you believe are holding you back, now imagine what would happen if all those obstacles were gone tomorrow. How many units would you have by the end of the year with nothing in your way? Take that number of units and run the numbers, multiply by both the average hotel RevPar and J’s RevPar and that will give you a range that will tell you exactly how much money you could make every day if you accomplished your goals. Multiply that number by 365 to get your earnings per year.

You can also break that number down even further and determine how much of an opportunity cost you’re paying each and every hour that you let those obstacles hold you back.

  • The Cashflow Diary Roadmap

J and the Cashflow Diary are dedicated to providing hands on and direct training to students that want to create their own six and seven figure short term rental bu

Feb 24 2020

2hr 24mins

Play

The Key Short Term Rental Systems That Allow You To Scale Your Business To Six Figures

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The short term rental industry is waiting for people like you who want to be professional operators delivering a high quality experience. The hardest way to do this business is to go through the first year with only one unit. Putting the right short term rental systems in place that allow you to grow past that point and start running more units is the secret to long term success. Learn what systems you must implement in your short term rental business.

  • Have you ever asked a traditional real estate investor or landlord about short term rentals? 

A good analogy is imagining what a person who owns a Costco franchise or someone who owns a vending machine business. Each person will have firmly believe that what they are doing is the best option, but the Costco person probably thinks the vending business is too much work, and the vending machine owner thinks the Costco is too much money upfront.

The traditional landlord is like Costco, they are wholesaling their property in 12 month terms. Short term rentals are like the vending machine business, you’re both selling the same product, just with a different package and sales channel. The differences are the customers being served and the level of services you are providing.

Short term rental operators are the retail version of real estate, we sell the property one day at a time, and the power is in our ability to be efficient. It’s the system that delivers the service, and that’s the difference between the two.

As a resource becomes more available and efficient, demand for that resource starts to go up. Cell phones are a good example, they started off big and clunky and difficult to manufacture, but now they are small, powerful, and ubiquitous. Short term rental operators make real estate more efficient.

The more efficiency we bring to the table, the more revenue we can drive in our businesses and other people’s organizations as well. The key to your future is putting this principle into effect for your life.

  • Putting Short Term Rental Systems In Place

There are a few key short term rental systems that have to be in place if you’re going to capture this efficiency. This includes a system for cleaning the unit on a regular basis, a maintenance and repair system for fixtures like doorknobs, a communication system for communicating with your guests, and a system for managing the availability of multiple calendars per property.

Most of the time, we recommend people start out with AirBnB because they have the absolute best system for customer acquisition. But there are other platforms as well, and if you can operate efficiently on those platforms, you can make much more money per booking. 

If you’re going to make the maximum amount of profit in this business you need to have a system in place for availability 24 hours a day, 7 days a week. This is probably the easiest area for us to outperform the market because the average short term rental operator has no system in place to handle inquiries and can sometimes take days to respond.

You have to provide more value to the marketplace than just you are able to provide. It has to be bigger than you. That kind of thinking is how you unlock five figure paydays, six figure success, and seven figure freedom. Learning how to provide value to the marketplace efficiently allows you to scale and reach levels of income that most people have no idea how to achieve, in

Feb 20 2020

1hr 45mins

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Cashflow Diary Roadmap Q&A

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Get the lowdown on the Cashflow Diary Roadmap program and how the program has been designed to get students to six and seven figure businesses as quickly as possible. Find out what makes the Cashflow Diary Roadmap different and how becoming a student in the next enrolment period could completely transform your life.

  • What is the difference between what’s offered to Cashflow Diary Roadmap students versus traditional students? 

Cashflow Diary Roadmap students are the first to take advantage of the new Cashflow Diary app, a one stop location for training materials, networking opportunities, and additional features like a vendor marketplace. The app also allows us to bring on subject matter experts to provide help with specific areas. The app also connects Roadmap students to their accountability coach in a real time format. 

There are also a number of assessments that your accountability coach will help you get through, all of them designed to help you become a bigger, better, badder entrepreneur and keep you on track. You will have access to a monthly 45 minute coaching call and additional tracking tools to keep you on target.

Cashflow Diary Roadmap students also get access to 3 weekly training calls that cover topics and tactics that we wouldn’t otherwise be able to do. Everything in the Roadmap is centered around facilitating the transformation necessary to create six and seven figure businesses.

  • Who are the accountability coaches?

Each accountability coach is someone who has accomplished the things we are helping Roadmap students achieve. They have proven they have mastered the same material you will be studying as a Cashflow Diary Roadmap student. The whole point of the accountability coaches is to provide real time help for the students and eliminate what they perceive as roadblocks that are preventing them from moving forward.

  • Does the Roadmap focus on a particular market?

There is no one market that the Cashflow Diary Roadmap focuses on, but for the more exotic use cases of short term rentals there will be either additional training or resources made available for them.

  • Will you be discontinuing the Q&A’s?

The short answer is no, but where they are done and how they are done is changing. They are only going to be made available to members only. The previous format came with a lot of restrictions that prevented it from really solving the problems we are looking to solve. By changing the format we will be able to better serve the members and help them advance in towards their goals.

  • Will there be a Facebook presence after this transfer?

There will be a presence on Facebook, it will be focused on the other group. We will be doing more free training for members of that group but our primary focus will be on working with existing Roadmap students. The challenging thing with Facebook is disseminating information because Facebook gets to determine who sees what, which can make things difficult. The Roadmap is our effort in providing a solution to that problem.

All the recommendations we have made in the program are tailored to help you get results as fast as possible without getting distracted by the next shiny new object.

  • What is the opportunity cost

Feb 17 2020

55mins

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Getting Landlords To Say Yes

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One of the unique things that you need to understand is that people do things for their reasons, not theirs, and their reasons make sense to them. Be careful about assuming that the way you think is the way that everyone thinks. When it comes to talking to landlords as a short term rental operator and getting them to say yes, there is a proven process that you can use to start the conversation and close the deal.

  • Why do you think that landlords want? 

If you’re the one offering a solution to a problem, you’re in business. That means you need to understand the pain of the problem in order to make a sale/present yourself as the solution to the problem. If you’re not getting the answers from the people you’re talking to, it’s not the business model that’s broken, you’re probably just approaching the situation incorrectly.

Many of us put off our pain until the last possible moment, landlords have pain too, you just have to understand what that pain is. When someone is in pain, they don’t care about a person’s pedigree as long as they believe they can solve their problem. When it comes to talking to landlords, their biggest problem is vacancy and as long as you can speak competently by understanding that the landlord conversation becomes much easier.

The conversation is only difficult because you don’t yet have a thorough understanding of their problems yet. As you continue to have a better handle on the problem, you will run into another set of challenges. Namely, getting the person to admit that they have a problem.

The average short term rental guest stays at a venue for 5.6 days. That means that roughly five times a month, the unit has to be cleaned from top to bottom, which is an interesting point you can bring up in conversation with a landlord. How often does that happen with a traditional long term rental situation? The answer is almost never.

Another benefit to the landlord is a general decrease in wear and tear on the unit. Guests typically spend their time somewhere other than the unit itself, especially compared to long term tenants. Your relationship with a landlord is a symbiotic relationship where you are both helping each other.

  • What do you think the landlord gains by working with you as a short term rental operator?

The benefits of a consistently occupied unit not only leads to more reliable payments for the landlord, the building is valued based on its net operating income and if they can show that vacancy is going to be consistent, it can add up very fast for the landlord. 

The landlord also gets the advantage of decreased leasing fees and management fees. Working with you as a short term rental operator can save them thousands of dollars in leasing fees and every day the unit is vacant they are losing money, which is a problem you can solve directly.

As a short term rental operator, the landlord can be confident that their property will be sufficiently covered by the right insurance, which is not something they can always rely on with traditional tenants. Short term rentals also get to take advantage of all the technology available that most landlords have no idea how to make use of, including increased security and fire protection. We can protect their property better than they or their tenant can.

Professional operators can’t be taken advantage of in the way that the scare stories on the news are saying they can.

  • How To Star

Feb 13 2020

1hr 43mins

Play

The Secret To Raising Capital From Investors

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Do you want a six or seven figure real estate business that will actually allow you to retire from your job? Raising capital is a key skill you need to understand. The window of opportunity is wide open and there is more opportunity than you think in the short term rental business, now is the time to take action and get started. 

  • Why would a landlord allow you to lease their property and make more money than them? 

Landlords are in different places in their lives and the value different things, that’s what creates the opportunity for us. In fact, most retail businesses do exactly the same thing. The lease a location where they operate out of, in order to make more money than the cost of the lease. The principle is basically the same.

  • What do you believe investors are looking for? What does it take for investors to say yes to giving you money?

There are basically two things you need in order to get investors to say yes to you. Character and confidence. There are many different ways you can demonstrate those, producing content like a podcast or Youtube videos and they show up consistently. Demonstrating competence is also very important, because he who educates the market, dominates the market. Always answer at least one question with your content and actually helps people. 

When it comes to raising capital, there are three types of people that you want to be in front of: guests, landlords, and investors. Another thing to keep in mind is that investors are often the people right next to you, they are not always the person in the fancy suit. Every person has an investor identity and the most interchangeable piece of the process is the deal.

Even if you don’t currently have a piece of property under contract right now, you should still be able to talk about who you serve, how you serve them, and everything the customer prefers. If you can’t talk confidently about that without having a particular address in mind, that’s where the problem in raising capital lies.

You must become a professional information gatherer because that will put you into a position to diagnose, make a prognosis, and then prescribe. You can’t do it any other way because you will never know what the investor wants. The challenge is you can’t ask them directly because most people don’t even know they have an investor identity. If you walk into any given Starbucks, there is probably several million dollars in investable capital sitting around.

You are the operator and the one with a solution, make sure they know that. There are many different reasons someone will choose to invest, and your job is to figure out what that is and solve their problem. Invite them into your world and show them that you are an expert by educating them.

If you lead with a deal based on what you believe is great without uncovering what the investor is actually looking for, you both lose.

  • The Profit Analysis Quadrant Conversation

There are four areas of profit: appreciation, amortization, depreciation, and cash flow. Each of those can be manipulated to create the outcome that the investor is looking for. You have to know how to use these tools to create a deal that solves the investor’s problems.

Show them you’re an expert by educating them and asking the right questions, find out what they are doing and what problems they are trying to solve, then explain how your tr

Feb 10 2020

1hr 25mins

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Straight Fuego 🔥

By Immigrant Investor - Apr 03 2020
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Loyal Listener here. I’ve been a fan of J. Massey for almost 2 years now, since I discovered his podcast. And, he has been my mentor from afar. He even inspired me to start a podcast. I did so, after thoroughly studying his content. Thanks to J and the CFD team. Why did it take me two years to leave a 5 star review? I’m a healthy skeptic

Great Host and Guests

By Lucas Marshall - Jun 25 2017
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Wealth of knowledge can be learned listening to the Host and guests on this podcast!!!