#196 - The Investor DNA Blueprint: Find Your Perfect Passive Income Stream | Joey Mure

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The reality is that if you don't surround yourself with the right people, you're really
not going to ever change the way you think.

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You're not going to ever get the results that you're looking for.

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Welcome back for another awesome episode.

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everybody knows, our virtual podcasts are Thursdays, even though this will be released at
a different time.

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But today's guest is Joey Murray.

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What a cool name with the accent above the E.

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He's co-founder and partner at Wealth Without Wall Street.

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After spending more than a decade in the mortgage industry, which I apologized to him for
before this, Joey recognized that many high income professionals were still financially

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stuck trading time for money with no clear path to freedom.

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That realization led him to co-found Wealth Without Realist Wall Street, where he teaches
individuals and families how to build passive income and financial independence outside of

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traditional Wall Street investing.

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Joey's also a speaker, educator, and author focused on helping people take control of
their financial future.

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Joey, welcome to the show.

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This is Big Responsibilities here on this topic.

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Man, I'm so excited to be here, Mark.

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I think a lot of synergy here that we could talk about.

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Yeah, absolutely.

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You and the mortgage business, my background being in real estate, we can go deep there
and the experiences you had, but you also wrote the book.

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So wealth without real estate.

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Okay.

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Well, not wealth without real estate, wealth without Wall Street.

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I know that, but I keep on saying real estate is it's a world I'm in, right?

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Because us real estate people, all we think is real estate.

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We don't think about traditional investing.

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so take us down this path.

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Wealth without Wall Street.

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You wrote the book, you started the business.

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What are we talking about here?

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All right, well, rather than like get into all the nitty gritty mechanics, I just want to
lay the subject matter out on the table.

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Here I am, I'm in my late 20s, making over $300,000 a year in the mortgage business.

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And for all intents and purposes, successful.

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Everybody, man, here's a guy, he's making all this money.

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And this is when I knew that there was a problem.

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I'm sitting at the beach with my wife and my five daughters.

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Yes, you can.

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pray for me after this Mark.

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And I say, Hey, you guys go on down to the beach.

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I'll be right there.

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have to take this one more call.

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And you know where this is going.

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Four hours later, I'm walking down this little boardwalk behind the condo and there's my
family walking up the opposite way.

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And the look on their face said everything.

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It was, wow, dad, we're at the beach.

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We're on vacation.

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You're here physically, and yet you're emotionally miles away.

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Like you're mentally not present.

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And the issue that I didn't know, I didn't know exactly what to say the issue was at the
time, but the issue is what many real estate professionals and business owners have done

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for themselves is they've, all their focus on being the active income source and they have
no, there are no amount of their money creating passive income.

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that then buys their time back.

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And that to me is the problem that we solve, is that people need a way, a path to start
creating, taking active income and producing passive income so that they can get more of

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their time back so that they can be present with their family.

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Because man, it's seconds before those kids are 18, 19, 20 and they're out of the house
and you just have regret.

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That's all you're left with.

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So can we accomplish breaking this down in 30 to 40 minutes?

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We're going to do our best.

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about that?

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Okay.

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What's our best look like?

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Where do we start with this about taking someone that has, I'm with the understanding that
has some income in excess of their expenses and bills.

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Exactly.

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Nobody can help you become financially free if you don't have surplus.

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Right.

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It's kind of like, what are we actually working with if all you're doing is, you know,
hand to mouth, you know, paycheck to paycheck, you got to create some, some surplus and

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then you can start to create freedom.

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Okay.

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So 60 % of the people in this country, we hear it all the time, but I it again.

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60 % of the people have a problem coming up with, I think a thousand bucks.

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Right.

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we're not, unfortunately right now we're not talking about 60%.

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That's a Dave Ramsey course almost, whether we love the guy or not.

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Right.

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It's.

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Correct.

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Exactly.

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Yeah.

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I think that there's a place for the Dave Ramsey's of the world.

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He's going to try to help you cut your lifestyle to get to a point of surplus.

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If you're below the water line, you got to come up for air, right?

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If you can't do that, you can't actually produce passive income.

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You can't produce freedom.

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And that's just not the job that I want to be honest.

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I don't want to come in here and say, Hey, Mark, you got to quit, you know, buying that
Starbucks every week or whatever the case may be.

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I want the people that already have that kind of, you know, built in, I want to help them
optimize and see where they have other gaps potentially that could even increase the

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amount that they could invest from.

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that's a whole step in our process.

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But, but yeah, we definitely not talking about people who are underwater.

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All right, so let's talk about some of these gaps that you see that really fit the
majority of the this other 40 % that we're talking about.

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So let me first start with this.

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Maybe this will help frame the whole conversation, but in our book, we talk about there
being a GPS, right?

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In a GPS, you have something in mind.

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You have a goal, you have a destination, but if you don't know where you're starting from
and you don't have that identified goal, you're really stuck, right?

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So the very first part of the GPS model is have a goal.

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The second one is have a plan.

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And then the third.

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is a support, right?

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GPS.

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And I would say the very first thing is that we want to challenge your goal.

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Most people, me included, when I was in the mortgage business, I started with this default
that I'm going to retire one day, right?

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The idea of retirement was the default that everybody comes, they go to school, they get a
good job, they start working.

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They start putting money away potentially in 401ks and IRAs and other vehicles that are
really focused on long-term planning, on retirement.

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But what we're talking about is we're talking about getting really clear about creating
freedom today.

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And that's when you have more passive income than you have monthly expenses.

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You're actually free.

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And if you can, if you change your mindset to that perspective, all of sudden the things
that you did with money before,

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are no longer valid, right?

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So it's like just as a case in point mark, you started your career, you start putting
money away for this retirement idea, but then you wake up and you're like, wait a minute,

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I'm killing myself.

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I'm working hard.

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My family's growing up.

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I'm not spending time with them because I'm constantly at work and I'm just got my head
down.

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I don't really actually have a quality of life that I had hoped for.

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And so you're like, what's the opportunity here?

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It's if I start creating passive income.

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And it covers my monthly expenses.

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Then all of sudden I have my calendar and I get to put every box on that calendar.

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Nobody else does it for me.

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Right?

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Somebody doesn't say, Hey, I need to go show, you need to go show me this house on Sunday
afternoon because otherwise I'm going to go work with somebody else.

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Or they don't say, Hey, your boss said you have to work X amount of hours every single
week.

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If I have more passive income than I have monthly expenses, I am now free.

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And if you get clear on that,

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You all of a sudden, you can't start putting money in 401k's.

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You can't continue to put money on paying down debt super fast.

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You can't put money into like all these other places that you've been used to doing.

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You have to start saying, oh, I need to put money in a place where I can access and I can
control.

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If that's the case, now all of a sudden I have more money to work with because the one
number one thing Mark that we've identified that keeps people from financial freedom.

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is lack of access to cash.

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And what we've been doing for decades, some of us, is just putting money into something
that we can't touch until we're in our sixties.

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So it goes against everything that we're trying to accomplish.

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I'm assuming without us, we're just getting to know each other.

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So there's nothing built in.

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don't know where we're going to go today, but I'm assuming we might be borrowing from
those accounts to buy some real estate to get some cashflow passive income.

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If that is your investor DNA, then absolutely.

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Yes, you can be a hundred percent going into real estate.

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So let me clarify that as a part of the plan step, you're going to actually identify what
sort of investor you are.

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Okay.

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So like right now I have to say, most people say, Hey man, you're with wealth without wall
street.

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What do you invest in?

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And I could point to our passive income report.

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We have 21 different income streams personally that are over $50,000 a month.

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That sounds great, but that doesn't really help you, right?

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You're like, I don't know which one of those would be good for me.

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And that's when I would put it back on you and say, Hey, Mark, what's your personality
type?

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Like, how did God create you to see the world?

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What do you get excited about?

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What do you get really frustrated with?

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What are the things that you would actually gravitate towards versus, you know, go
against?

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And I'll give you a case in point.

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My business partner.

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got his start in investing, he bought a little condo and it was a long-term rental.

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And he is a high influence guy.

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And you want to know how much he thought about that condo?

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Zero.

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He's like, this is the worst investment of all time.

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I get like a hundred dollars a month, whether I want it or not.

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I can't influence it.

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And by the way, every six months, Surf Pro calls me and tells me that, you know, the unit
above us flooded my unit.

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He's like, this is the worst.

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And so he kind of assumes that that's what all this investing is like.

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Meanwhile, he looks at short-term rentals and he's like, game on.

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This is exactly my personality type.

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He loves having something that's flashier, that is a higher payouts.

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Typically there's some seasonality to it.

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There's some ability for him to post on social media.

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Hey man, look at this.

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Look at our cabin, look at our beach house, look at our whatever.

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Love to host you.

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Right?

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That's a personality type that not everybody's going to love short-term rentals, but not
everybody's going to love long-term rentals.

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And then you add onto that there's e-commerce, there's Turo, there's all sorts of other
places that people could invest for cashflow, but they don't know, they don't start with

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who they are as an investor.

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Does that make sense?

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Yeah, I mean, it makes sense what you're saying.

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I mean, you don't hear people taking this approach that much, but are you, what's the
reasoning for that?

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as far as the investor DNA or why they don't.

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the investor DNA, I can see, say why so many businesses don't do things, but yeah, about
that, whatever's in your DNA, that that's the type of investing because I'm assuming

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you're going to make an argument that we could clearly identify over the past decade, two
decades, three decades.

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If it was all about return, you could say this is what the best performing area has been
for the past 30 years.

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So if you're thinking about just investing, you do that, but why is it what my DNA, what's
in my DNA?

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Why does that matter?

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Well, because of exactly what you just said, if all we did is chase ROI, number one, we're
always chasing shiny objects.

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There's something else that's always the front runner.

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I mean, think about it.

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People are like, man, what sort of crypto are you into?

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What coin are you going to buy?

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It's like, well, okay, this thing returned a hundred percent this month and next month it
went down 50%.

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It's going to change constantly.

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And honestly, most of those things are speculative in nature.

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They're not actually consistent cashflow that create freedom.

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They're more of a, hey, I got an ego and I get to talk about this coin that I bought that
went up a hundred percent, but it literally made no difference in the outcome that I'm

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trying to receive.

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Right?

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If I want financial freedom, these speculative, you know, deals that create large, you
know, ups and downs really

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They don't really accomplish that goal.

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So I think number one, people start chasing the shiny object.

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Social media helps with that, in feeding you, man, look at this.

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This is the new craze.

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It's the new this or the new that.

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But if you really stay focused on the things that are like tied into who you are as a
personality type, you're going to actually do more because you're going to have that

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comfort level that...

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You know, think about it, if you have a speculation on something, you're always going to
invest a much smaller amount and you're not going to be as, as confident.

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But if you start doing the same things and you start seeing results and it, does line up
with who you are, personality wise, you're going to do a lot more faster.

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So is the argument here, you know, like a warm buff, we all hold him up at the top and
he's like, just go invest in an index fund.

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The past 30, 40, 50 years, you've got an average of 9 % compounding return, reinvest your
money.

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But your argument is, is that I'm not getting cashflow for me to be able to offset having
to work so much to live this good life.

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that, is that what

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that perspective is retirement perspective.

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It's accumulation.

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It's man, at some point in your sixties or potentially seventies, when all the variables
work out, you're going to have this mountain of cash and you can start peeling dollars off

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the top and hopefully it doesn't run out.

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That's tax free.

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That's exactly.

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Well, they would say actually none of those things are tax free other than Roth IRAs.

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But so you're actually going to pay tax and you're not going to know what the calculation
is until then, which is a huge, that's like you and me sitting at the mortgage table at

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00:14:17,340 --> 00:14:25,055
the closing table and me saying, Hey man, here, sign this 30 year mortgage, but I'm going
to tell you what the rate of interest is when we get there.

216
00:14:25,157 --> 00:14:26,740
Sounds like a variable rate.

217
00:14:26,949 --> 00:14:28,641
Tbd without a cap.

218
00:14:28,641 --> 00:14:31,265
I'm not I'm not good with TBD, right?

219
00:14:31,265 --> 00:14:32,627
Yeah, exactly without a cap.

220
00:14:32,627 --> 00:14:33,467
Good point.

221
00:14:33,511 --> 00:14:35,171
So what's this look like then?

222
00:14:35,171 --> 00:14:40,635
You know, me being in real estate, passive income is you buy a rental, you improve it.

223
00:14:40,635 --> 00:14:43,147
You know, we're not talking about having to deal with tenants and being a landlord.

224
00:14:43,147 --> 00:14:44,197
That's a whole separate piece.

225
00:14:44,197 --> 00:14:45,979
That's about the DNA piece, right?

226
00:14:45,979 --> 00:14:52,202
But we're talking about getting monthly cashflow to offset my expenses.

227
00:14:52,302 --> 00:14:53,302
So.

228
00:14:53,663 --> 00:14:59,518
Argumentally, so I can live a more controlled, axed, free life.

229
00:14:59,552 --> 00:15:02,852
Working because you want to, not because you have to.

230
00:15:02,852 --> 00:15:13,032
I mean, I'll just use real estate as an example because I was in the mortgage business and
I lived that lifestyle and I have a lot of friends still in the real estate world.

231
00:15:13,032 --> 00:15:23,392
And the reality is many of them would still do real estate for the people that they know
and love because they have an expertise and they have something to give.

232
00:15:23,472 --> 00:15:23,672
Right?

233
00:15:23,672 --> 00:15:27,652
The idea of retiring from something.

234
00:15:27,698 --> 00:15:32,671
is not a biblical idea, by the way, because it states that you're being taken out of
service.

235
00:15:32,792 --> 00:15:41,379
And there's never going to be a time, Mark, where I'm going to feel like I need to be
taken out of service to this world, because there's certain gifts and things that I have

236
00:15:41,379 --> 00:15:45,542
to give that I'm going to want to continue to serve others.

237
00:15:45,802 --> 00:15:56,229
But there's a difference between having to get somebody in the car and go show them the
next house and or go take that next listing because you got

238
00:15:56,243 --> 00:16:06,603
You know, bills to pay next month and showing up and saying, man, I'd love to help you
with this transaction because I know I can help you with this and not feel the need to or

239
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the requirement to.

240
00:16:07,705 --> 00:16:08,504
Does that make sense?

241
00:16:08,504 --> 00:16:10,056
Yeah, a hundred percent does.

242
00:16:10,056 --> 00:16:19,537
what, give me some other examples of, if we're not talking about real estate, some other
examples of some passive investments that you've seen people make that fit with their DNA,

243
00:16:19,537 --> 00:16:22,760
just to give us some more of an example, like, Hey, what's this?

244
00:16:23,044 --> 00:16:24,504
Yeah, absolutely.

245
00:16:24,644 --> 00:16:32,304
So a lot of people in our world have done, now they may be related to real estate, but
they're different than the traditional model.

246
00:16:32,304 --> 00:16:34,104
So I can share that too.

247
00:16:34,144 --> 00:16:38,624
One of our top performers is investing in raw land.

248
00:16:38,704 --> 00:16:46,784
Buying raw land at 25 to 30 cents on the dollar from sellers who really just don't have a
way out.

249
00:16:46,784 --> 00:16:52,096
They don't have like, their parcels may only be five to $10,000 or $20,000.

250
00:16:52,096 --> 00:17:00,122
And most real estate agents aren't going to take that kind of listing because it's not
paying them enough to actually spend the time on it.

251
00:17:00,122 --> 00:17:04,748
And so we can go in and offer somebody that maybe that that property is worth 25K.

252
00:17:04,748 --> 00:17:08,151
We may be to offer them five to 6,000 for that property.

253
00:17:08,151 --> 00:17:11,884
And they take it because it's like, Hey, I don't want to fool with this anymore.

254
00:17:11,884 --> 00:17:14,095
And nobody else is going to help me sell it.

255
00:17:14,176 --> 00:17:21,141
I can turn around and sell that same property on owner financing note to a buyer.

256
00:17:21,269 --> 00:17:26,633
at the full price because now I've made this property achievable.

257
00:17:26,633 --> 00:17:36,600
know, people sometimes aren't sitting on $25,000, but they may be sitting on a thousand
dollars down in $300 a month for X amount of months.

258
00:17:36,600 --> 00:17:37,554
That's what we've done.

259
00:17:37,554 --> 00:17:44,026
It says 2020 and that current income stream is a little over 35,000 right now.

260
00:17:44,032 --> 00:17:50,608
So we get that every single month in terms of loan repayments for those people that we've
owned or financed.

261
00:17:50,608 --> 00:17:54,151
That's a super profitable play that we have.

262
00:17:54,451 --> 00:17:57,734
Another one, people have started e-commerce stores.

263
00:17:57,734 --> 00:18:04,141
So Amazon, physical products being bought from China or India or other countries.

264
00:18:04,141 --> 00:18:09,676
And for instance, I have an air fryer that I've developed with a team, an operator team.

265
00:18:09,784 --> 00:18:11,275
So I don't operate it day to day.

266
00:18:11,275 --> 00:18:17,339
I've just been the capital contribution and kind of advisory and they run the whole store.

267
00:18:17,420 --> 00:18:21,403
And so that's another passive income play that people have done.

268
00:18:21,403 --> 00:18:31,192
We've bought websites that are affiliate websites or faceless YouTube video channels that
also have ad revenue every single month.

269
00:18:31,192 --> 00:18:34,515
That's another strategy that people have bought and done.

270
00:18:34,515 --> 00:18:37,478
And then man, we've got even Turo.

271
00:18:37,478 --> 00:18:41,582
I have three cars on Turo right now that an operator runs for me.

272
00:18:41,582 --> 00:18:48,406
And on average, each car makes about six to $800 per month after paying the operator.

273
00:18:48,406 --> 00:18:54,760
And so, I mean, we can go deep into any of these, but I'm just kind of giving you a number
of things that aren't just real estate related.

274
00:18:54,760 --> 00:18:55,210
Yeah.

275
00:18:55,210 --> 00:18:57,951
So how do people engage with those if they don't have expertise?

276
00:18:57,951 --> 00:18:58,452
Right.

277
00:18:58,452 --> 00:19:06,917
Cause I've learned that the more that I understand and know something, I don't wait to
take action, but the more that I know and understand it, the more leverage I have, the

278
00:19:06,917 --> 00:19:10,449
more I understand what the investment should be a likely outcomes.

279
00:19:10,449 --> 00:19:11,720
not going to lose money.

280
00:19:11,720 --> 00:19:13,801
These things that you've shared.

281
00:19:13,801 --> 00:19:15,850
They haven't occurred to me.

282
00:19:15,850 --> 00:19:18,233
I know the tour that that I've heard of it, right?

283
00:19:18,233 --> 00:19:20,104
But these things haven't occurred to me.

284
00:19:20,605 --> 00:19:22,086
how does someone.

285
00:19:22,256 --> 00:19:26,515
If they're busy, how do they become well versed in this and feel comfortable making those
investments?

286
00:19:26,515 --> 00:19:27,980
Like, how's that work?

287
00:19:28,434 --> 00:19:42,254
Well, first and foremost, want to say, I want to back up a second and say, you have to be,
so in order for something to be truly passive, you actually can't go into it without

288
00:19:42,254 --> 00:19:44,114
actually educating yourself.

289
00:19:44,114 --> 00:19:47,394
So that's the active part of passive investing.

290
00:19:47,474 --> 00:19:51,354
So for instance, we have a whole lab, we call it the passive income lab.

291
00:19:51,354 --> 00:19:55,078
It's a 12 week course that you do in a group setting.

292
00:19:55,078 --> 00:19:58,740
You build all these things out that I was talking about your investor DNA.

293
00:19:58,740 --> 00:20:05,423
You actually build a buy box that we use a custom GPT to help you determine if something
is a fit for you or not.

294
00:20:05,984 --> 00:20:14,830
You actually learn how to interview operators, people who are actually operating those
passive income assets so that you can be passive.

295
00:20:15,010 --> 00:20:17,692
And all that stuff takes time, right?

296
00:20:17,692 --> 00:20:23,975
It's, it's not passive until you have that confidence and that understanding.

297
00:20:24,141 --> 00:20:31,954
Cause as soon as you go out and you haven't done that and you're trying to look for
passive income, that's where people get, they lose money.

298
00:20:32,194 --> 00:20:36,657
I mean, just being real like that is we get optimistic and you know, you're in real
estate.

299
00:20:36,657 --> 00:20:37,758
I was in mortgage.

300
00:20:37,758 --> 00:20:44,942
We're very optimistic people in general and optimistic people lose money because they
haven't slowed down.

301
00:20:44,942 --> 00:20:52,713
They haven't been realistic about the challenges or the potential issues or the, you know,
the downfalls of things.

302
00:20:52,713 --> 00:20:55,314
And so you have to be trained to be an investor.

303
00:20:55,375 --> 00:20:59,297
Being an optimist, being an entrepreneur does not mean you're an investor.

304
00:20:59,297 --> 00:21:04,259
And so that's why we developed this whole curriculum because people have to do that.

305
00:21:04,259 --> 00:21:10,624
But once you've done that, now you start to really feel confident and you start to see
results.

306
00:21:10,624 --> 00:21:16,407
And I'll tell you this, each one of those things that I've done, I actually just recently
started a pallet business.

307
00:21:16,407 --> 00:21:21,730
I invested in the course to learn how does a pallet business operate.

308
00:21:21,730 --> 00:21:26,895
And then I hired an operator and said, Hey, here, take this training.

309
00:21:26,895 --> 00:21:29,037
This is what I want to build with you.

310
00:21:29,037 --> 00:21:31,319
I'm going to be the money behind it.

311
00:21:31,319 --> 00:21:35,385
I'll make some, you know, some strategic calls along the way.

312
00:21:35,385 --> 00:21:40,580
I'll get the financial aspects of this done, but I need you to operate this business day
in and day out.

313
00:21:40,580 --> 00:21:44,243
And so they had to have the course in order to do that.

314
00:21:44,423 --> 00:21:46,463
The same is true with like Turo.

315
00:21:46,463 --> 00:21:49,045
There's courses, there are things out there that you can buy.

316
00:21:49,045 --> 00:22:00,075
People who are doing this at a high level and or the operators that already exist, can
interview them and really determine do they have this set up properly?

317
00:22:00,075 --> 00:22:01,936
there potential gaps there?

318
00:22:01,936 --> 00:22:03,147
Does that make sense?

319
00:22:04,151 --> 00:22:04,731
I think so.

320
00:22:04,731 --> 00:22:05,542
That's what we're here for.

321
00:22:05,542 --> 00:22:05,852
Right.

322
00:22:05,852 --> 00:22:18,988
think I'm sitting here learning along with everyone else, but, this is a psychology of the
human, the investor matter because as we train people to be successful in the real estate

323
00:22:18,988 --> 00:22:21,899
environment, you and mortgage, there were similar businesses.

324
00:22:23,200 --> 00:22:30,903
The actual way that the professional realtor, the professional salesperson, professional
mortgage professional.

325
00:22:31,141 --> 00:22:36,252
The way that they engage with the customer is what matters most.

326
00:22:37,433 --> 00:22:45,795
And so as I hear you talking about this on operating the business, on finding someone, you
invest in the pallet business, you find someone to run it.

327
00:22:46,135 --> 00:22:52,717
What's going to be more important than learning the pallet business is your engagement
with the human, your leadership skills, right?

328
00:22:52,717 --> 00:22:54,538
Your management skills.

329
00:22:55,631 --> 00:22:56,848
So is there a course?

330
00:22:56,848 --> 00:22:58,843
It's like, what course do we put people through?

331
00:22:58,843 --> 00:23:03,559
to gain that ability to engage emotional stability and all the stuff.

332
00:23:03,559 --> 00:23:04,459
Yeah.

333
00:23:04,459 --> 00:23:11,598
Well, I'll say I'll apply what we cover in the lab because I think that that is the thing
I can, I can say at scale.

334
00:23:11,598 --> 00:23:17,879
There's always one-offs like for me doing the pallet business, I wouldn't necessarily
recommend that everybody do that.

335
00:23:17,879 --> 00:23:20,159
That's just because I've been in management.

336
00:23:20,159 --> 00:23:26,779
I've been in ownership and you know, leading teams and all this stuff for, you know, 20
plus years.

337
00:23:26,779 --> 00:23:29,247
That doesn't mean that you should go out and do that.

338
00:23:29,317 --> 00:23:39,875
But for somebody who's just trying to get into the passive income game, you have to learn
how to actually interview operators.

339
00:23:39,956 --> 00:23:50,995
Because I can tell you this, whenever you hear about an opportunity, they're going to send
you a pitch deck or they're going to send you a PPM document or fill in the blank and

340
00:23:50,995 --> 00:23:54,007
they're going to say, this is amazing.

341
00:23:54,007 --> 00:23:54,367
Right.

342
00:23:54,367 --> 00:23:57,830
And there's never been one that I've seen that looked like crap.

343
00:23:58,351 --> 00:23:58,971
Now.

344
00:23:58,971 --> 00:24:04,153
There are some that have a lot to promise and nothing to back them up.

345
00:24:04,153 --> 00:24:08,935
And those are the ones you just pass on and say, Hey, thanks for sharing it, but I'm out.

346
00:24:09,255 --> 00:24:21,521
But the real key is taking the ones that look good on paper and asking the question behind
the question, asking the things that how do I lose all my money?

347
00:24:21,521 --> 00:24:21,811
Right?

348
00:24:21,811 --> 00:24:28,610
There's many, many different tactics and ways to ask the right questions to uncover.

349
00:24:28,610 --> 00:24:30,481
Is this going to fit me or not?

350
00:24:30,481 --> 00:24:34,684
Are there potential risks that I'm just not willing to take?

351
00:24:34,684 --> 00:24:37,406
And how can I be as objective as possible?

352
00:24:37,406 --> 00:24:46,153
We teach all those different questions and ways in which to track the answers in order to
then make an informed decision.

353
00:24:46,153 --> 00:24:54,860
But to your point, if you don't actually spend the time, you know, learning that skill,
you will more than likely lose money.

354
00:24:54,860 --> 00:24:55,893
Because it's just.

355
00:24:55,893 --> 00:25:01,063
There's people out there and they're not doing it to be like, you know, malicious.

356
00:25:01,185 --> 00:25:05,528
They're just not great operators and they look good, but they're not good.

357
00:25:05,528 --> 00:25:08,829
is a big part of this actually going out and acquiring businesses.

358
00:25:08,829 --> 00:25:13,185
I is that a foundation that you believe in this passive income, fund it, acquire them?

359
00:25:13,185 --> 00:25:15,717
Because that's what I'm hearing some here.

360
00:25:15,722 --> 00:25:23,771
There is an aspect of that, but again, I think based on your investor DNA, there's an
element of active income versus passive income.

361
00:25:23,771 --> 00:25:36,023
And I'll say this, the people that typically can get to financial freedom the fastest,
operate an active business first that then leads them to be able to take that excess and

362
00:25:36,023 --> 00:25:38,045
create additional passive income streams.

363
00:25:38,045 --> 00:25:41,387
But there are some people that are W-2 employees right now.

364
00:25:41,719 --> 00:25:50,127
that are like, man, I've got a cap, I'm owned by somebody else's schedule, I need to get
out from under where this is right now.

365
00:25:50,127 --> 00:26:01,266
And sometimes some of their best steps are to go buy a franchise so that they can get into
this operating business kind of culture, buy back some of their time, and then start to

366
00:26:01,266 --> 00:26:05,749
actually create the surplus to buy the rest of it back.

367
00:26:06,309 --> 00:26:08,000
Yeah.

368
00:26:08,000 --> 00:26:20,467
Why do, why do you think that a bunch of high earners, not high net worth, high earners,
why do they feel like they're on a hamster wheel and they just can't get ahead too?

369
00:26:20,467 --> 00:26:22,028
Cause this is the misconception.

370
00:26:22,028 --> 00:26:23,209
You were in the mortgage business.

371
00:26:23,209 --> 00:26:24,529
sell real estate.

372
00:26:24,770 --> 00:26:32,406
I don't evaluate people by the house they live in, the car they drive and the vacations
they go on because those people.

373
00:26:32,406 --> 00:26:38,734
You can be making three or $400,000 a year like so many are, and they're spending every
dollar every year.

374
00:26:39,282 --> 00:26:40,004
Absolutely.

375
00:26:40,004 --> 00:26:41,945
Lifestyle creep is real.

376
00:26:42,286 --> 00:26:44,148
Keeping up with the Joneses is real.

377
00:26:44,148 --> 00:26:50,673
My mentor, Nelson Nash, used to say, a luxury once experienced becomes a necessity.

378
00:26:50,814 --> 00:26:52,216
That's Parkinson's law.

379
00:26:52,216 --> 00:26:53,526
And it's real.

380
00:26:53,526 --> 00:27:02,023
mean, you start, you you think about back when you started out in your career, you
probably had a beater car and you could live off of 2000 bucks a month.

381
00:27:02,023 --> 00:27:02,904
No problem.

382
00:27:02,904 --> 00:27:05,676
You had all sorts of leftover cash.

383
00:27:05,890 --> 00:27:10,717
Finding coach was okay, but now first class, don't want anything, that's what we're
talking about.

384
00:27:10,717 --> 00:27:11,658
Exactly.

385
00:27:11,730 --> 00:27:13,812
So those things are real challenges.

386
00:27:13,812 --> 00:27:23,238
But the second thing I think is what I've kind of started out saying is sometimes you're
doing things with money that you started with the right perspective.

387
00:27:23,238 --> 00:27:28,861
You're thinking long-term, you're thinking retirement, you're thinking, you know, I have
to get out of this debt.

388
00:27:28,861 --> 00:27:31,683
I have to pay off my house as fast as possible.

389
00:27:31,683 --> 00:27:39,157
And so people are literally spending every dollar trying to do something that no longer is
their focus.

390
00:27:39,463 --> 00:27:50,151
And what we very, very commonly, when we, coaches meet with people, they're objectively
asking questions to make you think, okay, why are you doing this with this money?

391
00:27:50,151 --> 00:27:53,754
Well, I was doing this because I was trying to get to blah, blah, blah, blah.

392
00:27:53,754 --> 00:27:58,557
Well, if, how does that create financial freedom for you today?

393
00:27:58,638 --> 00:28:03,221
Does it increase your passive income or does it reduce a monthly expense?

394
00:28:03,221 --> 00:28:05,879
Because if it doesn't do one of those two things,

395
00:28:05,879 --> 00:28:10,199
You can no longer do it and say you're trying to get to financial freedom.

396
00:28:10,239 --> 00:28:12,419
It's really no longer valid.

397
00:28:12,419 --> 00:28:25,699
And so I think there's people that will uncover sometimes two, three, $4,000 a month or
more that they are unnecessarily putting money in places that don't support their new goal

398
00:28:25,699 --> 00:28:27,039
of financial freedom.

399
00:28:27,039 --> 00:28:33,319
And that is a, that's a game changer when somebody uncovers that, which is what really
gets me fired up.

400
00:28:33,319 --> 00:28:35,479
start seeing people do that and I'm like, man, they're

401
00:28:35,479 --> 00:28:36,871
They're now on the path.

402
00:28:37,207 --> 00:28:42,127
When you sit down and interview people, I'm sure people have, they come with these
questions like, I have $50,000 in the bank.

403
00:28:42,127 --> 00:28:44,427
Where do I invest it?

404
00:28:44,727 --> 00:28:51,527
But is it more, I don't want to, you know, I don't want to lead you directly down a path,
but is it more than just that 50 grand?

405
00:28:51,527 --> 00:28:53,999
There's a lot more context that's needed, right?

406
00:28:54,192 --> 00:28:54,702
for sure.

407
00:28:54,702 --> 00:28:59,276
I mean, it would be malpractice for somebody to just say, man, you should put it up here.

408
00:28:59,276 --> 00:29:11,236
The people that will tell you exactly where to invest are one either investment advisors,
which we are not, and, or they have a fund or something that they're trying to get you to

409
00:29:11,236 --> 00:29:11,567
fund.

410
00:29:11,567 --> 00:29:16,040
It's kind of like, you're a hammer and they have a nail.

411
00:29:16,040 --> 00:29:19,925
it's, it's just a perfect fit in their mind, but.

412
00:29:19,925 --> 00:29:25,269
From our standpoint, we're never going to tell you exactly where to park that money.

413
00:29:25,269 --> 00:29:30,653
We want to expose people and we want to equip people with the right filters.

414
00:29:30,653 --> 00:29:37,537
That's why we start with things like creating your own passive income operating system,
like where your cash is flowing.

415
00:29:37,537 --> 00:29:38,918
That's our first step.

416
00:29:38,918 --> 00:29:48,979
And then the second step comes into knowing your investor DNA, building a buy box,
learning the skills of interviewing operators and those things.

417
00:29:48,979 --> 00:29:51,093
then you'll know exactly what to do with that 50,000.

418
00:29:51,093 --> 00:29:53,198
We don't have to tell you.

419
00:29:53,198 --> 00:29:54,761
It'll just become obvious.

420
00:29:54,761 --> 00:29:56,445
But people want the fast button.

421
00:29:56,445 --> 00:29:57,909
They want the easy button.

422
00:29:57,909 --> 00:30:00,192
And those are the people that end up losing money.

423
00:30:00,592 --> 00:30:02,975
So if you're not financial advisors, what are you?

424
00:30:03,556 --> 00:30:06,868
So I would consider us coaches, right?

425
00:30:06,868 --> 00:30:18,156
And that's how we, that's how we reference the people that help our clients through the
entire process is we have coaches and they're there to just get the most out of you.

426
00:30:18,156 --> 00:30:23,749
Think about like when you have a personal trainer at the gym, what are you hiring them
for?

427
00:30:23,749 --> 00:30:30,563
It's because they're going to be able to pull out from you the best that you potentially
can't do on your own.

428
00:30:30,663 --> 00:30:35,813
And that's exactly why we have these coaches because they're going to help you see things
that you didn't see.

429
00:30:35,813 --> 00:30:41,520
And they're going to help you take action and stay accountable to a process that you said
was important to you.

430
00:30:41,520 --> 00:30:49,095
But man, if you don't have that life gets in the way and you start just reverting back to
your old way of life.

431
00:30:49,343 --> 00:30:53,875
So what are these, if we don't get you and your partner, what do these coaches look like
that you have working with you?

432
00:30:53,875 --> 00:30:59,257
Because here's, I'd be honest, I have to say this before you tell me what the construction
you guys have.

433
00:30:59,257 --> 00:31:05,200
People spend a lot in the consulting and coaching world in, in the real estate mortgage
industry, a lot.

434
00:31:05,200 --> 00:31:10,403
know these coaches, people pay them a lot of money and they don't end up getting them.

435
00:31:11,324 --> 00:31:12,604
They get someone else.

436
00:31:12,604 --> 00:31:16,676
So speak to this about who these coaches are, what this looks like.

437
00:31:16,726 --> 00:31:18,026
Great question.

438
00:31:18,106 --> 00:31:31,086
And I'll tell you this, us and I, my business partner, we started here in Birmingham,
Alabama, belly to belly, just, you know, that's how we talk here in the South, Mark.

439
00:31:31,486 --> 00:31:34,246
Belly to belly, helping people one-on-one.

440
00:31:34,246 --> 00:31:42,446
And as we started our podcast in 2017, all of sudden we had people all over the country
saying, hey, can I work with you guys?

441
00:31:42,446 --> 00:31:44,186
I hear what you guys are talking about.

442
00:31:44,186 --> 00:31:45,888
I want what you're talking about.

443
00:31:45,888 --> 00:31:47,078
Can you help us?

444
00:31:47,118 --> 00:31:52,661
And overnight, we started to say, man, we can't, we can't handle this just me and Russ.

445
00:31:52,661 --> 00:31:56,162
And what really ended up happening, it was, it was really hard.

446
00:31:56,162 --> 00:31:57,193
I'm just going to be honest with you.

447
00:31:57,193 --> 00:32:04,895
Like, do you have to give up the reins and say, I'm going to hire coaches that can come
behind us and actually do what we would have done?

448
00:32:04,895 --> 00:32:06,945
Like that's a big deal.

449
00:32:06,945 --> 00:32:09,106
That's really hard to do.

450
00:32:09,166 --> 00:32:11,948
But what we've been fortunate to do, Mark, is.

451
00:32:11,948 --> 00:32:21,473
Every, almost every single one of these coaches that we've hired, which we have 11 now,
have all been clients first.

452
00:32:21,994 --> 00:32:32,862
They've all gone through the process personally, done work with us at some point, and then
actually had results of their own passive income journey that they can speak to.

453
00:32:32,862 --> 00:32:38,055
So in other words, you're not just saying, you're not, they're just not living off of the
coattails of Russ and Joey.

454
00:32:38,055 --> 00:32:40,616
man, look, they've done all this stuff.

455
00:32:40,616 --> 00:32:44,129
They actually personally are on the journey.

456
00:32:44,129 --> 00:32:51,195
They may be 50 % of the way to where we are, but they are definitely light years ahead of
the people that they're helping.

457
00:32:51,195 --> 00:32:54,938
And here's the really unexpected thing.

458
00:32:54,938 --> 00:33:01,443
When Russ and I were doing this, we were like, man, don't know if we can, nobody's going
to be able to do this as well as us, but that's a lie.

459
00:33:01,443 --> 00:33:09,092
And that's a lie that most business owners are stuck with is they think that they're the
technician and they can only do it the best.

460
00:33:09,092 --> 00:33:19,150
But the reality is if you have somebody that that's all that they do in your business,
they are typically light years ahead of you because as a business owner, we're having to

461
00:33:19,150 --> 00:33:29,461
do hiring, firing, recruiting, all the financials, I mean, lease, you're having to do all
the stuff in a business and still help that client.

462
00:33:29,522 --> 00:33:36,176
When in fact, if I have somebody that that's all that they do, we found that these coaches
are actually

463
00:33:36,176 --> 00:33:42,512
much better suited to help people get the most out of their situation than when we were
doing it.

464
00:33:42,512 --> 00:33:44,114
And so that's the reality.

465
00:33:44,114 --> 00:33:49,779
Previous clients, they've been pilots, medical device sales, CFOs.

466
00:33:49,779 --> 00:33:58,412
These are people that they've left those ways of living and those jobs to come work with
us because they want to have an impact and they've seen their personal results.

467
00:33:58,412 --> 00:33:59,392
Makes sense.

468
00:33:59,392 --> 00:34:08,012
So since we only have a certain amount of time here, if it sounds like if somebody said,
okay, over the next 12 months, someone wants to create passive income, they have some

469
00:34:08,012 --> 00:34:11,212
excess cash every month, where should they start?

470
00:34:11,212 --> 00:34:18,572
I'm assuming you'd say when you start with us, you go through the course, the 12 week
course to figure out your DNA, answer the questions.

471
00:34:18,572 --> 00:34:25,432
And then coming out of that, is it easily definable what the next nine months looks like
for them to try to get the passive?

472
00:34:25,910 --> 00:34:29,033
So one, I'm gonna shift it a little bit.

473
00:34:29,033 --> 00:34:33,276
The first step for us is we set up your passive income operating system.

474
00:34:33,276 --> 00:34:41,544
This is your cashflow system that gets you objectively to look at where you're putting
money and help you determine if there's a better way.

475
00:34:41,544 --> 00:34:47,278
Cause most people are operating really inefficiently with their cashflow.

476
00:34:47,278 --> 00:34:51,862
They get paid, the money comes in, they're trying to pay bills out of this one account.

477
00:34:51,862 --> 00:34:54,392
They're trying to invest out of this one account.

478
00:34:54,392 --> 00:34:58,732
They're, have like all these varying timeframes on which things are due.

479
00:34:58,732 --> 00:35:00,952
It becomes a confusing mess.

480
00:35:00,972 --> 00:35:12,992
We help them operationalize that to where it's automated and they can see exactly what's
left over, especially after they get, get or reduce the money traps in their life.

481
00:35:12,992 --> 00:35:17,212
Most people don't know what those are, but we walk them through that and they start to see
it.

482
00:35:17,212 --> 00:35:20,472
And then they now all of a sudden they have access to cash.

483
00:35:20,472 --> 00:35:23,812
Once they do that, then they do the 12 week course.

484
00:35:23,992 --> 00:35:30,712
And they start to, by the end of the 12 weeks, they're guaranteed to get their first $500
a month of passive income.

485
00:35:30,712 --> 00:35:42,472
And so that is where I would say the next step is, Mark, is once they've got that first
taste, right, they can see how this is a repeatable process that created the $500 to begin

486
00:35:42,472 --> 00:35:43,132
with.

487
00:35:43,132 --> 00:35:44,792
Now all of sudden, what do they got to do?

488
00:35:44,792 --> 00:35:48,212
They got to stack to the next 500, to the next 500.

489
00:35:48,212 --> 00:35:53,212
And they may even be able to pour gasoline on it because now they have more confidence.

490
00:35:53,802 --> 00:36:02,558
I can't specifically say to, once you get to this point, you're going to be able to do
this over the next 12 months or 36 months or what have you.

491
00:36:02,558 --> 00:36:14,385
But it's not uncommon for people that go through the process to get to a point where they
can leave their job within 24 to 36 months because they now have a repeatable, consistent,

492
00:36:14,385 --> 00:36:19,038
confident process that's giving them the results that they started looking for.

493
00:36:19,234 --> 00:36:21,551
So we all like guarantees in this world.

494
00:36:21,551 --> 00:36:28,338
So how are you confident after 12 weeks that you can guarantee that there'll be 500 bucks
of passive income there?

495
00:36:28,876 --> 00:36:29,557
Great question.

496
00:36:29,557 --> 00:36:32,218
Number one, you have to qualify to get into it.

497
00:36:32,279 --> 00:36:35,483
So like, if you have no money, we're not going to guarantee you anything.

498
00:36:35,483 --> 00:36:42,829
It's not, we can't turn, you know, like that's why I was started out by saying, if you're
living above your means, we can't help you.

499
00:36:42,829 --> 00:36:47,513
If you're living below your means, you've got surplus, you got the ability to invest.

500
00:36:47,513 --> 00:36:50,517
Now we can teach you the skills it takes to get there.

501
00:36:50,517 --> 00:36:55,731
But the second thing is, is there's some people that won't pull the trigger immediately in
those 12 weeks.

502
00:36:55,731 --> 00:37:03,111
And so our guarantee is that we're going to get, you're going to have the first $500 a
month, or we're going to keep working with you until you do.

503
00:37:03,111 --> 00:37:05,671
Because some people are quickstarts and they're going to get it.

504
00:37:05,671 --> 00:37:07,731
They're going to get it within the first three or four weeks.

505
00:37:07,731 --> 00:37:13,211
And then there's other people that 12 weeks, they just haven't quite gotten there and
we're going to keep working with them.

506
00:37:13,211 --> 00:37:22,051
They can continue to be a part of our cohorts and continue to get the accountability of
the group before, so that they can get there.

507
00:37:22,051 --> 00:37:24,431
That's, that's again.

508
00:37:24,824 --> 00:37:28,215
one size doesn't fit all, we have to kind of meet people where they're at.

509
00:37:31,107 --> 00:37:42,723
If you could push a button, I'm assuming that a hundred percent of the people that come to
your classes that go through it, I'm assuming if you could push a button, all hundred

510
00:37:42,723 --> 00:37:52,217
percent of them would then have the right mindset, make the right moves, apply the
strategies that you're talking about, and they would all win.

511
00:37:53,318 --> 00:37:56,379
For the percentage, I'm not asking for the percentage that don't.

512
00:37:57,291 --> 00:38:04,911
But for whatever that percentage of the people who don't, is there a commonality on why
that happens or why it doesn't happen for them?

513
00:38:07,071 --> 00:38:18,742
That is a pretty loaded question, but I would say, okay, I would say that there, you
started out the, the, whole conversation, we were talking about psychology.

514
00:38:18,883 --> 00:38:22,907
I think there's a huge uphill battle when it comes to this.

515
00:38:22,907 --> 00:38:25,569
And part of it is just how you think.

516
00:38:25,730 --> 00:38:33,006
So if someone comes into this process and they get fired up about the idea, but then they
start to lose focus.

517
00:38:33,006 --> 00:38:37,338
They start to say, well, can I really create passive income?

518
00:38:37,338 --> 00:38:46,565
I may have started the process and gotten this cashflow system up and that was good, but
now they're just stuck not taking that next stage.

519
00:38:46,565 --> 00:38:51,387
Maybe they didn't even enroll in the lab portion because it's an optional thing.

520
00:38:51,387 --> 00:38:54,709
It's not like we require people to take each of these steps.

521
00:38:54,709 --> 00:39:01,713
And so some people might stop short of doing that second step and they don't have the
education, they don't have the confidence.

522
00:39:01,902 --> 00:39:03,323
so that, that could be one thing.

523
00:39:03,323 --> 00:39:07,867
Number two, think, you ever heard the, the, conversation crabs in a barrel?

524
00:39:07,867 --> 00:39:08,788
You ever heard that?

525
00:39:08,788 --> 00:39:09,148
Yeah.

526
00:39:09,148 --> 00:39:17,663
So there's people that may start strong and then they go to their network and their
network says, Mark, what are you thinking, man?

527
00:39:17,663 --> 00:39:19,714
You can't create passive income.

528
00:39:19,714 --> 00:39:20,995
That's a scam.

529
00:39:20,995 --> 00:39:28,383
Like you can't actually go buy this, you know, this website and it create $800 a month or.

530
00:39:28,383 --> 00:39:32,683
go buy this Turo car for 8,000, it creates $800 a month.

531
00:39:32,683 --> 00:39:33,703
You can't do that.

532
00:39:33,703 --> 00:39:35,383
That's a pipe dream.

533
00:39:35,503 --> 00:39:42,423
And you start to question and you get out of the community of people who are actually on
that journey with you.

534
00:39:42,423 --> 00:39:45,443
And all of sudden you're like, let me hold off.

535
00:39:45,443 --> 00:39:46,963
There's too much risk.

536
00:39:46,963 --> 00:39:53,883
But the reality is, that if you don't surround yourself with the right people, you're
really not going to ever change the way you think.

537
00:39:53,883 --> 00:39:56,623
You're not going to ever get the results that you're looking for.

538
00:39:56,733 --> 00:40:04,259
I would say those are probably the things, if I had to guess what was below the surface,
it would be one of those few things.

539
00:40:04,507 --> 00:40:08,067
All right, to hand it back to you here as we wrap up, oh, Joey Murray.

540
00:40:08,067 --> 00:40:09,887
What a cool name still.

541
00:40:10,687 --> 00:40:13,187
Partner for wealth without wall street.

542
00:40:13,887 --> 00:40:14,787
What do you love most?

543
00:40:14,787 --> 00:40:21,619
What's been the most rewarding part about, about this journey since 2014 that you've been
on?

544
00:40:21,699 --> 00:40:22,559
Yeah.

545
00:40:22,579 --> 00:40:25,441
Well, the first would be selfishly.

546
00:40:25,699 --> 00:40:33,568
I have been a learner first, which has allowed me to then point the way to people ahead of
me and say, look behind me.

547
00:40:33,568 --> 00:40:37,351
There's a lot of things I learned along the way, sometimes the hard way.

548
00:40:37,351 --> 00:40:43,296
And I want you to learn it much faster and much more efficiently, but the results it's
done for me and my family.

549
00:40:43,296 --> 00:40:48,219
Mark, I'm going to tell you, man, I went from that point where I just started telling you.

550
00:40:48,241 --> 00:41:02,386
being just a slave to my phone, being constantly away from my kids and my wife and not
having the freedom of time to where I might work 25 hours a week right now and I take

551
00:41:02,386 --> 00:41:04,607
Fridays off and I go to breakfast.

552
00:41:04,607 --> 00:41:06,888
I don't start my day till 10 a.m.

553
00:41:06,888 --> 00:41:13,320
and leave around five while they're still in school, we're homeschooled, so I get to see
them all throughout the day anyway.

554
00:41:13,320 --> 00:41:17,814
The quality of life that it has created for me and my family is paramount.

555
00:41:17,814 --> 00:41:28,365
But then the second thing, which is the thing I get the most joy out of is seeing people
as they graduate the lab and hearing their story of, man, this has changed my life.

556
00:41:28,365 --> 00:41:39,485
Because now I've, came into this only having ever invested in Wall Street, 401ks, IRAs,
didn't understand what that was and didn't understand how to do.

557
00:41:40,169 --> 00:41:46,080
passive income at all, like alternative investing through real estate or businesses or
whatever the case may be.

558
00:41:46,501 --> 00:41:59,206
And now I've evaluated 12 deals and I've invested in three and I'm looking at a fourth
right now that's going to help me get to 2,000 or 2,500 per month passive income.

559
00:41:59,206 --> 00:42:08,368
That, in the confidence that's in their voice, that's the thing that's, it's like, they
may not even say it, but I can actually hear it in their voice.

560
00:42:08,550 --> 00:42:10,804
that they are actually like, man, this is repeatable.

561
00:42:10,804 --> 00:42:11,967
This is scalable.

562
00:42:11,967 --> 00:42:13,770
I can actually do this.

563
00:42:13,770 --> 00:42:21,494
That to me is the most rewarding because I know that the outcome is inevitable for them to
get to where we're talking about.

564
00:42:22,638 --> 00:42:23,869
Awesome time.

565
00:42:23,869 --> 00:42:29,952
Joey Murray wealth without wall street, grab his book, check out the system.

566
00:42:29,952 --> 00:42:41,840
And, I guess you spend some time around if this is foreign to people, hear passive income,
but spend time figuring out what all the types of passive income are and, what type of

567
00:42:41,840 --> 00:42:43,220
part of it you want to play in your life.

568
00:42:43,220 --> 00:42:47,172
And, maybe one day you'll be working 25 hours a week like this guy.

569
00:42:47,945 --> 00:42:52,121
I hope I'm not doing that for very much longer, I'm constantly replacing myself.

570
00:42:52,466 --> 00:42:54,106
I'll care of doing it the wrong way.

571
00:42:54,106 --> 00:42:56,386
I'll keep on working these 80 and 90 hour weeks.

572
00:42:56,386 --> 00:43:03,886
I'll continue doing it and, um, I'll continue watching you spending time on that beach,
um, taking Fridays off.

573
00:43:03,886 --> 00:43:10,126
So I think there's a bunch of different ways to do it, but I love having conversations
with people that have a different perspective on this, right?

574
00:43:10,126 --> 00:43:13,226
Or they've learned something new from the world that they used to be in.

575
00:43:13,226 --> 00:43:16,506
And some of us, we just won't ever jerk ourselves out of it.

576
00:43:16,506 --> 00:43:22,634
But I will say for those of us that still work these crazy weeks that I work,

577
00:43:22,702 --> 00:43:29,266
And running businesses and in the business, passive income is still a big part of my
income now.

578
00:43:29,266 --> 00:43:38,831
So regardless of what one part of your life looks like, the part about passive that people
need to understand though, is there's a lot of brain work and a lot of investment in

579
00:43:38,831 --> 00:43:42,862
understanding these businesses for the passive part to really pay off.

580
00:43:43,642 --> 00:43:44,283
A hundred percent.

581
00:43:44,283 --> 00:43:45,183
Yeah.

582
00:43:45,183 --> 00:43:49,023
If you don't, if you don't spend the time educating yourself, it'll never be passive.

583
00:43:49,023 --> 00:43:50,666
and potentially lose all your money.

584
00:43:50,666 --> 00:43:51,526
So.

585
00:43:51,693 --> 00:43:54,351
cause yourself more grief potentially than you have.

586
00:43:55,358 --> 00:43:56,009
Yeah.

587
00:43:56,009 --> 00:44:05,959
Mark, by the way, we did set up a page for your listeners if they would like to get access
to some, they'll have a free quiz, free webinar, many other things we give away.

588
00:44:05,959 --> 00:44:11,484
If you want, people go to wealththoughoutwallstreet.com forward slash necessary
entrepreneur.

589
00:44:11,484 --> 00:44:15,027
Wealththoughoutwallstreet.com forward slash necessary entrepreneur.

590
00:44:15,027 --> 00:44:16,829
There's a way for you to contact me.

591
00:44:16,829 --> 00:44:19,351
I'd love for you to just say,

592
00:44:19,351 --> 00:44:23,531
I heard you and Mark talking on the podcast and love to connect with you from there.

593
00:44:23,531 --> 00:44:23,843
Awesome.

594
00:44:23,843 --> 00:44:25,537
We'll put that out for you too.

595
00:44:26,565 --> 00:44:27,006
Thank you.

596
00:44:27,006 --> 00:44:28,473
Thank you for the time today.

597
00:44:28,473 --> 00:44:29,287
Yeah.

598
00:44:29,287 --> 00:44:30,792
man, I love being on here.