“Why A Real Estate Investing Education Makes All The Difference” , 1/8

Del Walmsley
Monday, January 8th

Both volatility in the server industry (Luai’s field at the time) and a significant drop in neighborhood home prices got Luai and Oula thinking “what if” about real estate investing. So, they invested in two local homes on their own. But, something was missing. They joined Lifestyles Unlimited to learn more, and in the process, replaced two-thirds of Luai’s income.

00:43:49

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

Keep up with the latest headlines from Austin and beyond on the on the new talk thirteen seventy dot com stay informed with the latest news weather contests and more it's all just a click away at talk thirteen seventy dot com just one more way to stay connected with talk thirteen seventy. The information and poignancy here on the Dell wants a radio show or those of the hosts don't want sleep is gas and as collars and do not necessarily reflect the opinions of the station its affiliates its management or advertisers the Dell wants a show was for entertainment purposes only please consult a professional regarding your personal investment needs nothing presented on the Dell wants a show constitutes an endorsement recommendation offer solicitation to buy or sell any product or security. Tell challenges of questions everything that empowers you to return to your core belief still make your life. Here they're true. Lifestyle you. Next hour will change your life. And now your vote. National award winning investor of the here SC EO and founder of lifestyle. No one's going. Welcome you don't want to radio show with a high bends in the hope begins I'm your host a wildly there's always. As all weeks. We're working on your financial freedom to name my friends. Ownership review story that I got an email from. And on the rapidly into another story that I've already lived in my life and try to put 22 together and show you something important about life. One of my favorite things in life is. I used to be said that I had no shoes. Until I met a man that had no feet. Don't we all feel that way. Don't we all have this little bit between Genesis says well it's unfair. If only if it could've would've been. You know you watch sports and unscrew the referee missed the play we would want to hadn't messed this up on the play. You know if only I were taller you know if only I we're smarter fully I came from a wealthier family only I had better education. I wasn't so old that I can do and I wasn't too young I could do it. If I didn't have bad credit I can do it is fighting you know they had the no job would have the time to do it because I have a job I don't have the time to do it but because they don't have a job I can't give any credit and you know it's this way of thinking. And as much as we know that there's a tremendous number of us out here and I'd throw myself in that group sometimes I get all. Bought her pitiful about stuff from elected I was lucky enough to have. You know gonna start out when I was a kid when I was 200004. Grade was ugly head to where Coke bottle glasses. As to how and why survival and irked when there's good looking kids out here. That the teachers like because a good look and because they're good looking they love themselves they're funny they're happy they're excited about life. They like each other. Because good looking kids and fun kids like each other and here I am this little facts it all by myself over here and a quarter could nobody want to talk to me because I really. Not somebody but you wanna talk drug or no experience is electors don't get to be with anybody else and having friends. I mean just be old book here in east so Canadian these comments guys and I grew open kind of self pity. Until one day something happened need changed everything which was I read a book about a guy it was 400 pounds. Who lost. You know. 175. Council to go like that got down to 220 by pounded one mr. universe. And I thought. If this guy can do it why can't I do why can't I change from this fat round. Blob of human flesh. Intuit chiseled ripped a hard ripped to shreds. You know body that people would just golf care. And I remember putting pictures all over my room. A body builders with great cabs it was always the bad that I cared about most wanted to ripped after the fact it. And I you mutilated that every did look in the mirror and a dream of Apple's ads being there and as I lost weight hasn't worked out and closer and closer. I could just envision by the time they actually became a contestant winner. I'd already got that through my brain a thousand times. So it was almost anti climatic it was like I've been there done that a thousand times in my bring. And that realization that you can. Wind your mind create a completely different world for yourself. Is what I wanna talk about today the total Napoleon hill's statement whatever the mind demand can conceive and believe we can achieve. But you have to conceive it we have to believe it. And before you conceded believe that you have to even see it. You have to see it somewhere somebody has to put it in front of you and you go wow now the ruling special people in this world cheap things that no one's ever done before. They see things that have never been accomplished and say wideout. Many of us say how. These people say why not. And so today we wanna talk about some of this why not cut a conversation. So back when I first started investing. I bought some houses are used up all cash led to warm cash. So I decided that I wanted to partner was somebody had money so I let them put up the money I do all the work. And put the dead in my name tied for the credit connector credit but I just not had ran out of money by thousands Orioles cash for health ripped. And so my first partner with the gentleman that was a cosmetic. Dental surgeon. He made very very good money. But unfortunately for him and his life. One day he was working with a chainsaw in the backyard trimming some tree limbs. And he cut off his ball. Can you imagine that cut up his own bone. Now they picked a thumb up and put it nice and took undergo surgery and they sort of back on but it was never really couldn't move never to say moose just as a stub. And so he could not form dental surgery anymore. And Hughes Libyan a nice home nice neighborhood kids going to college and in his gentleman needed money. He's already came in I met with him usually nicest guy in the whole world boils down to earth. Ethical person I've ever met probably unbelievable. And so I talked to him about it let's let's do something together here. And he said yeah I'll do that. And so we went out together and we bought eleven houses. And then we bought four plex. And it was like wild two things happened in shim idiotic relationship in life where is. I knew nothing about raising capital. In syndicating deals. Creating partnerships. A lot of moderate house under an operator records. But by getting with this general and I learned a whole new system. And from there I went to another fairly well one of the members was a doctor. And I did with that elite ten units five duplex and then we've moved on we bought. Fifteen more duplex so we had thirty some good forty units and then we went on bought 45. Townhouses. So altogether we bought eighty units together. That I met with a little lady who has was retired and she and I went out we bought for four plex is at a couple houses together. At all the sudden I had over a hundred houses in less than a year you're to have whatever took I don't know exactly. But I did learn to completely new skills that. That allowed me then do want to create lifestyles to grow lifestyles to teach other people unto all the stuff. And to eventually accumulate thousands of units instead of just 1020. Units. That teacher. Taught other people how to bide. Thousands and thousands and thousands you'd Curtis Strange and I have 7300. Units less in my dark. Thirty apartment complexes. To understand never own peace roasted before can the lifestyles and now because he's taken what it took me 28. Years to develop. He's able to pick it up five years ago rubber didn't have ten times result I had to stumbling. This is the way life works for those people to say why not. Those people who say I don't know I don't believe or they say Howell couldn't I do. Just do not survive in a world where there's people Tuesday. Why not. Why not me why can't I be a bodybuilder. There's nothing says I can't my genetics don't sage I should but that doesn't mean I can't beat by genetics. Right. Why can't W millionaire although others boarded tool for family. A very blue collar middle class type of family that never really had anything why can't I be a multi multi millionaire. We're just a millionaire to start it. But once I was a million or so why can't I be a multi multi million. And I started looking up people everybody was on TV everybody who was famous for looking up their network. And gave me new gold say why can't that be as wealthy as an athlete as a movie star. I don't need to be damn. I just need to know that their needs to be more zeros for me to get. And so. I changed and said why not. Why not me. Why not Dell wants it being worth a hundred million dollars what is one million of the what is one million why can't it be worth a hundred. Point. In the lead to would you ask why not use. All of course you can't. If you're willing to do the things necessary to make that work they make that occur. And you just need to go and find that map and then work that map. There is no reason why not. Or any of us. There's just out. How to do this. If there's enough why. I guarantee you this is from Tony Robbins if there is enough why in your sentence. How will come easily. But there has to be enough why. 87771150. To let him be right back with a Dell wants the radio show. You're listening to their Joseph blogs are great here. Dell will be right. Principles of justice. Lifestyle some limited is the real estate investor education and mentoring group that is taking people by the hand and taught them how to invest in real state for over 24 years our students have been so successful in treating welcome past having found that they won local state and national investor the year awards nine of the last nine years it's easy to see my personal real estate investor magazine named as the best in the US if you're ready to add real estate to your portfolio go to lifestyles unlimited Austin dot com to access our free live training events scheduled. Wondering who the free workshop is for we did amazingly successful with people who are pressed for time. Doctors lawyers small business owners and corporate professionals. Who are grinding their lives away for earned income and don't realize they can start creating passive income today. Within that confines of their schedules and commitment. Want to get started now go to my passive income workshop dot com. That's my passive income workshop dot com. Again and stand today all day long in the car on my way to work heading home listening online keeps you in touch while you work at top thirteen 78 dot com get a ring no top thirteen seventy anywhere kind of their Grand Slam. Now here's some more unconventional wisdom to us that you. The man on a mission to retry. One person at a time no one's. What about Fidel wildly radio show today were discussing the concept. A feeling sorry for yourself as opposed to just getting out there and taking action. Sitting there and coming up with 1000 excuses why you can't be a millionaire 1000 skis is why you can't. Beef financially free and retire in three to five to seven years just like everybody else does. That decides to do it out there in this world. Why can't you do is know why you can't. And so what do we do right now tiller read you a letter to email that was sent to me. And it's private unlocked and used the person they could they did not ask permission to use a person's name but I guarantee you this is it really email that was sent to me. And I think it really highlights the concept we've been talking about here this morning so far. I'll read it quote today marks the third anniversary of the automobile accident. That almost took my life and kept me from being able to practice dentistry for most of 2014. But. I have good news that has happened as a result of Jordan left those on limited. Jennifer and I just closed our first multifamily property as lead investors yesterday exclamation point. This property is a real gem in the cultural district of Fort Worth and we are excited with this step in our journey. And the returns we have planned for a pass investors and our fuel we join last dells into the 2014 when I was still recovering from the accident and have been. Fully immersed in training mentoring and networking ever since mentor in from JB Durham and Don row help us determine our road. Now and we have followed it without deviation and have. Seemed positive results and can see that more to come. We began by adding to our single family portfolio with two additional profitable single family properties. And became passive investors and for multifamily deals. We took on key principal positions and three of the multifamily deals. To help came credibility with the beats with leaders which certainly helped us become qualified to purchase multifamily properties as lead investors. The very next day after your 25 anniversary celebration. We left Houston and visited a property that we began to underwrite for acquisition. This turned out to be a good learning experience but we decided it was not the right property to purchase those that hope. Of our mentor and the team through the apartment for the team we had assembled. We under rope more properties and got deep into the offer stay drug to move them. But these did not result contracts that networking and friendships came through lifestyle resulted in successful acquisition we just completed yesterday. I am thankful to Jennifer for not giving up after putting in so much sharper with no Malta are fairly properties purchased for over fifteen months. This journey has been good for us as a couple and has strengthen our relationship while developing new skills and enhancing existing ones. As you know Wayne being embodies the abundance mentality where there's a friend who knew we were trying to purchase and of the property in the same sub market issues. This particular seller just wondered too much and the numbers would not work where he was working on closing his second deal and knew about another. We immediately sprang into action and were able to get it under contract with a few days while they are we don't. What a large multifamily properties reinvested back in January 2015. Is under contract to close later this month. We just weren't returned our original capital and a nice profit we are planning to reinvest. Into multifamily as soon as possible with players to utilize the 1031. Exchange provision. Just wanted to share what are good news they say thanks for helping us from where we were on the day three years ago. To purchase our first multifamily property before this milestone passed. Jennifer says it spent this morning and she said now we mark this day about something positive. Instead of the action. They play informed with knowledge and desire action Q2 with persistence and encouragement by others of like kind. We all result in successful outcome we are proud of that. Thank you everyone lifestyles are limited. Don't think about this. We start with the human beings whose life. Has been devastating. Right. Actually thinks he's gonna lose everything. Pain. Hospitalization. Recovery. And while everybody else was federal the sort for themselves as gentlemen. So I got a good to act I got to take action to reduce stumping for my family survive if I'm gonna lose my dentistry practice. For George Wrighster else. And we pursue east to study and learn and get prepared while all the while you know studying learning to become a lead investor. He meanwhile picks up two more additional income producing houses. And kids out in their invest with four pass it deals so that he can learn this business he's going out with the people who are already good at it. Getting in deals with them and watching and learning and study. What they do it just like I did with because that was 400 pounds of teams universe. You need a mentor you needed map peace somebody's been there he then by joining us tells accumulated mentors all around him. Both watched elves actually paid mentors and lies still members have already been successful so now he's got this group. Around him he keeps calling it this group that he is formed a people like minded people that help him succeed. He's got what it takes that he runs into his section. Challenge the challenge that life just isn't that simple you don't just want to buy property make a million dollars would you first deal if you by the first property you see. You've got to underwriter you gotta go and see if that makes sense and if you do you go after me challenge yourself. But even then you could be too slow somebody else who had lots of experience. Why appealed to be two out. But because of the eighteen months of underwriting through for the properties and not getting them look sharpen your underwriting skills. And you have to build a keen sense of what it is that you need to having you like to be successful. And so when lane being state case here's a deal but you're gonna have to move quickly he leaped on the deal. He didn't hear him in Holland kicked attire and total part of round. He leaped on the deal and locked it down. Because he had hole and those underwriting skills because he had this clear vision just a guy had a clear vision of my cab. The pictures on my wall or what might have to gonna look like. Or I was gonna die trying he already had that picture of the property you want. And when lane being showed it to him he leaped up. And now we owns. Now healed. So he's now got rental houses. He's now got passive deals one of which is going to pay back all invested capital. Plus the cash flow is made and whatever profit mix on the capital gains when they sell it should take that money and he's going to extend is gonna continue to grow. This gentleman. Has changed his life. He's gone. From losing everything. To being in a better financial position and was before the accident. His wife. Sums it up so perfectly. That from this point forward we won't remember our life from the state as the day of the accident. We moved from this point in our life remember this day. As the date of change. In our life. Change for the better. Is that making lemonade out of lemons. C'mon guys. What are you sitting at home doing right now why are you done out there make a limited. With a short break. We'll be right after the don't want to review shall. You're listening to the Tel plus we re here. Principles of justice and long time lifestyles member Curtis Payne said the real joy from mean looking back. Is helping others and I wouldn't be able to have done it without the support of lifestyle that you can't say thank you enough feel for that. If you'd ask people if they could vote on the top ten guys. That help other people you'd be one of them there's no doubt about it here. Have this roadmap of holy success stories on this one I'm just. One person out of the thousands fantastic success stories that each and every person can learn from that's my advice. Take Curtis Haines advice come meet felt like minded successful investors who are helping others just like dale helped him. Attend the workshop get your map safely and quickly build wealth and passive income so you never have to worry about working till you drop. Losing your job or retiring in poverty. Call 18669718970. Or go to lifestyles unlimited Austin dot com that's lifestyles unlimited Austin dot com to register for the workshop or change your life. Get the latest business news from CNBC. Weekday mornings at 63830. AM weekday afternoons at 12343530. We. Make you smarter. Hopefully it'll also make use some money yeah. Stay connected with talk thirteen seventy the right choice. Now here's some more unconventional wisdom to us that you. The man on a mission to retire at road America one person at a time no one's going. What about you don't want to radio show. Quote cover something that is rather interesting and that is. Right now. People are afraid that the marketplace is Pete. As harsh rules that goes many people believe that because if she would run up a hole. Function last couple of years since 2008 and going up up up up up. But what really needs to be understood. Is that the market has gone up so much as his change. We're is before 2007. The American dream according to George Bush and all other. Government people you know both the Democrats and Republicans was. That you know everybody should own forty acres and a mule or in other words everybody should own their own personal residence that's the American dream to own your own piece of real state. Now. Here's the logic behind that. Logic is. Your home would be your largest physical asset that you won't do life in most cases. He may have looked forward K it may become more more eventually go what if personal residences. But the old idea where to buy a large residential and you've pelican Troy live and that your enjoyment in life. And then over what were retired fifteen to thirty years you paid this thing off. In doubt this is a gigantic asset one that you would never got asked that is going to appreciate the value it's gonna keep up with inflation. Right and then there's the giant crash 2000. So now everybody sees the world completely differently now we see real state as an expense. There and as they risk not as a guarantee but as a risk. And an expense the risk is it may go down the value in the. Just gone through this myself getting ready for like a new party. I had to spend thousands and thousands of dollars to replace all the dead plants. Of course my house larger body of the to replace all the complaints of my yard. From the freaks. And plus get ready manicure pools ponds. Landscape all had to be upgraded everything to get ready and you know that's two tremendous cost for the average person there who can afford that. So what is happen now is that people would rather rent. And eliminate those expenses. And reduce the risk. The downside. Now that makes sense I understand that but what does that mean to us as landlords. As investors. It means hey they're giving up the keys to the ascent. We now own the assets. So would you like to own General Motors when you liked been Ford owned Ford Motor Co. would you like to have owned. Though I'm trying to figure the GNU General Electric Co. That was created by because indebted to what look like ball. You know telephone company would you like owned AT&T from the beginning or whatever mob Bellic a so what do original. These are big giant assets of our world. And the ownership of those assets give you income. Power. And depreciation. And we knew no longer own your home. You don't have any income power or appreciation. Your income is only what you could schlep out every day you drop it if you can schlep it out or at your job goes away you got no income. You have no assets. Your assets can disappear in a moment's notice with this woods' stock market crash. You know if you own your house and there was a crashing your how should Europe to sell your house your disorder Rennes is pretty renters paying your mortgage. That's not a problem right but the stock market crashes and you're living off of that. You have to sell something to live. So you've got to sell at a lower price which purchase set but under read how sweet and at the sale to live were living up to cash flow we can hold on that essential. Revised in comes back up like it is now. So what is happening. Is that we are creating mega wealthy landlords that own all all of the resources and the assets in this world. And then we're creating all these college educated. Kids. Living in house rent houses and apartments. They have no assets no welt and many times cases can even get a job the pays enough to pay off their college debt. We are creating a society of halves. And have nots we are eliminating the middle class America in our society right now think about it we are you limited. That which are apparent stroke could be which was that middle class success don't. Where you live better than your parents lived. You have more you dreamed your kids who live better than you and everything seemed to get better every generation at least every year after year. That is gone. We now have the haves. People like myself and everybody else it's an investor. Who are getting wealthier every single year. And the have nots. Which are getting higher and higher expenses on them every single year as the cost of housing goes up radically. There are staying broke paying for that cost is the cost of food. Food and automobiles and close goes up there are staying broke because of those cost. And because they are broke they can't go buy a house because they don't have to 20% down they have bad credit from borrowing to buy things they can't afford old. And their lives are destroyed and going down it's like a toilet. It's finally it's going down it's not coming up it's going down. Right. Where's that pass. That wealth is growing like a snowball as a snowball rolls down the mountain gets larger and larger and larger. Good as their resources go down the toilet. That bowl gets lower and lower and lower. That's what's happening to our society today. And this article raiders just 345 page article titled between saying hey he's saying renters are staying renters. So if you're thinking wow did I miss the boat I didn't get in the rental business and look you're wrong the rental business is exploding. Because no one wants to own and order they can't. How do you go by house who can't come up between 25% down. How anybody else in your debt to income ratio is too high because you can't make as much money is all the stuff that caught issued a list of how do you buy a house if you can't you know if you credit's bad how anybody. The answer is you don't you read on for the rest of your life and you stay in that should Serbian. Customer position. For the rest of your life. All London on and on. Just trying to make it from dated dated date from paycheck to paycheck to paycheck. The only way you can break that cycle my friends. If you take your money out of that stupid 401K which pays you nothing to get your money out of stupid diary which pays you nothing. Start investing. You need to buy some real assets not paper assets real assets. That do three things at the same time number one pick he would dividend every single month. You have 41 K does not pay you you're either ray does not pay you your patent for home does not pay you. You need something the patient number two we will keep up with the inflation. Yes all things keep up with inflation gold keeps up with the inflation rocks keep open inflation possibilities keep up with the inflation. Facility rent houses and so will partner corrupt. Right and number three. You can leverage to. You can go on him by them on leverage. Without leverage. Right without leverage. You're not going to be able to make the kind of money we make which is the very high rates of return. Their returns that you hear us talking about on this radio show. Are real. We're not making a lot these are people coming in telling you this is what I do it now I haven't gone out to an authenticated deputy of the recent tell you differently. This is what they're doing this is what we do what we teach. You to start out giving a part of it and because you're not getting a part of it. Your network is literally going down compared to our network. Which are going up. And over a period of time. Inflation is going to eat that dollar sitting that 41 K a way to nothing. In overtime inflation's gonna make our rent houses and apartments worth. Mega Millions of dollars. Inflation helps us as far as value of our houses it helps us as far as rental increases its perch you buy only cash assets. Papers stocks and bonds inflation destroys those investments and you my friends are sitting there are suddenly going we will tell you. I don't know if I should believe you about financial planner this guy's got a degree he's got a license. He's an idiot you know I know that he's still working. If he knew what he was doing with money he would be rich. And retired. It would be having a 150 people over the weekend for a grand. Gigantic party. But he does. Create an avenue and he's got a job. He has not believe me go find him out he's a lie your BP tells you he's rich could deny. He's an employee. To a short break. Lesotho and it is here. No we got got about twenty seconds here so what lesson before we go to break. Go check out your financial planners network. Shields we'll show you his financial statement then you know whether or not you want him in his manipulating yours. He short break be right back with the del Walters radio show. You're listening to their tell monthly rate here. Principles are just a few. Did you know that every dollar you put into a piece of real estate makes you money five ways. Cash flow of money in your pocket each month. Equity capture the thousands of dollars you create when you have the right team and by the right property using the right map. Appreciation. Real estate doubles in value about every ten years equity buildup. Printers pay down your mortgage each month and finally the tax advantage we pay almost no taxes on our cash flow and capital gains. These are the five ways we make money in real estate which is why real estate accounts for more millionaires in the world today than any other investment vehicle. You should have some real estate in your portfolio. To learn how to attend one of our free workshops call 18669718970. Or go to lifestyles unlimited Austin dot com and register for the next available workshop. That's 8669718974. Go to lifestyles unlimited Austin dot com. Hi this is Gordon Deal join me weekdays 4 this morning America's first news to hear the stories you'll be talking about and searching for all day as we go beyond the headlines and above the chatter weekdays at five on talk thirteen seventy. What would happen if you didn't show up for work tomorrow. For the next couple of days for a week a couple of months a heat how long until you lose everything you've worked for in a fraction of the time it took different. If this fear keeps you up at night it's time to learn the strategies we teach it lifestyles unlimited start with a free workshop. Go to my parents who didn't come workshop dot com and find your true financial peaks like so many of our members already have. That's my passive income workshop dot com. Now here's some more unconventional wisdom just sets you free the men on a mission to retire road America one. No one's. Welcome back to don't want to radio show today we've been discussing all sorts of things for next topic I want to covers making bad decisions in life. The average person thinks like a poor person and dumb I really believe that. They believe that the world is zero someplace that you know they can ever they can't they do they don't they're richer the poor the broken there dot. Right and so you've got these ideas that people would tell your whole life and there's some you know radio short term Dave Ramsey talks about getting out of debt like getting a debt is the secret to life. It is and the secret to life it is the secret to getting out of debt. But then what you have to have a broke person to person out of debt is a broke person. A person would give millions and millions of dollars and somebody to leverage the way to success and became financially free. But you see it all the time it got to a three meals through that sort of point that out when he read this once he says. I was paid a 40000 dollar bonus last year instead of saving his money for investing my wife. Paid off her car and did any TV of mine. Now first what I was wired to control of your bonus that your bonus. Right. But I guess as guys get that relationship with a swipe portion runs fairly or whatever release of finances. But. That it has some really stupid thing for her to do can be the 40000 dollar to could have gone on ought to rent houses and make 500 Altamont each positive to actual. Maybe a thousand bucks a month to month picked up 1015 dolls Dalton equity made another 2030000. And they would have made. Two or three times the amount of money that she paid off. But instead they can't make any money. They would have a thousand dollars in what positive careful which easily will pay that car payment and AT BP. Probably even more white or say that because the interest on the car was only 3.5 percent. While. Nothing about the. 3.5. Percent. You can go out and earn cash flow of anywhere from ten to 20%. And you're gonna pay off 3.5 percent interest. Forty grand paying off 3.5 percent interest or forty grand earning your ten or 20%. That's a no brainer guys. Earn that ten or 20% and paid the three and A half percent off. At whatever rate that need to be paid off and you can make way more with the 220 which you do then use those payments to pay those things done if you want to do that that truly your goal. But he your goal really to get out of debt or is your goal really to make more money. To the problem with the average American out there all you think about is expenses. Because in your life that's all you've ever had control of is your expenses when I'm telling you need to start thinking about a life. Is the income side of the equation. Business people think about how can we produce more income. We will always work it controlling our expenses making the wise decisions all these people are great wise decision had three net percent interest on this note. That's a great decision too easy money. They made that right decision. The bad decision was to pay that note off. Think about it just when you you'll example I know this is way beyond your ability to think if you just start listening show. But let's just try to anyway and see if maybe I can help shape Q out of the nonsense that you've been taught your entire life. Listen I could go borrow a million dollars right now. And it's gonna cost you 3% to borrow that million or three to have factors make it forges to make it simpler bring them with centering here to prepare. So million dollars at three and half is gonna cost you 35000 a year. If I go make. A 20% return on that a hundred making 200000 dollars a year but take a 200000 all the year and it appears that 35000 dollars a year. All right that I have to pay for those payments of three and a half percent interest abroad. I making a 165000. A year net cash flow. Because I borrowed the million dollars. Your goal would be to get out of paying the million dollars and not being in debt. My goal is to get in debt so I can make a 165000. Bucks a year. It's completely opposite of what your parents talk to that's why they're not multi millionaires. It's completely Dobson what you're teachers talked to that whether teachers are not multi millionaires it's completely opposite of what you're CPA talk to that's why they're CPAs are not multi millionaires. It's completely opposite of what routine teaches you that's why reed who choose a radio guy not a real statement after because he didn't know what he's doing. If you know what you're doing. Yet. Will make you rich. If you don't know what you're doing double turn you into radio announcer by the name of Dave Ramsey and you'll totally deals dot. To go into debt because you couldn't figure out how to use it correctly. But the rest of the world as. And that's why there mega rich. Right so it's complete opposite of everything you've got to tackle this boxing Iraq. Like as oxy moronic all of those things they tell you to do like eat all the food on your plate turns you would look bad person. Indeed the pyramid of food choices which turned you into a diabetic. Right go to school. For eight years of college which turned to a duel broke person wood 200000 all with a debt and still mobility get a job. Everything that your parents taught you in life is backwards. If you were to go out and start your business at twenty years debate by the time all your friends got out of college at twenty acres of AGB millionaire and they'd be broke with debt. That they couldn't pay off because they're broke and don't have a job. Completely backwards. I can go down hundreds of these things that they tell you to do which is completely. Backwards by your first home before you Byron Nelson know by the Rendell said the Reynolds paid for your new home. Completely backwards good while a lot to build your dream home on no don't go by a lot to forty you should know you might do to put a little piece of garbage out on. Take the money bought the lot with buy yourself an apartment complex become a multi millionaire and then build a real dream home. Exactly backwards again. Everything. He's backwards that they teach him a call the term oxy moronic it's a completely opposite what people believed to be true. And because it is completely opposite to take sure wavy. An opposite direction from wealth success and happiness. And lead you towards poverty. Pain and living a life of quiet desperation. That's a difference reference that's a difference between. Being on that real life a little rat cage running like a little wells for the rest of your life. Olivia out here like the life. King of the Hill have a great day remember it's not the money it's so much. And. Yoshiro. Can obtain the rest. Enjoy seven. Can't get enough. Just enjoy. I. Yeah the information and poignancy here on the Dell wants a radio show or those of the hose still wants Lee has gas and is callers and do not necessarily reflect the opinions of the station its affiliates its management or advertisers the Dell wants a show was for entertainment purposes only please consult a professional regarding your personal investment needs nothing presented on the Dell wants a show constitutes an endorsement recommendation offer solicitation to buy or sell any product or security. Texas weather can change on a dime will. I wanted to know a new beginning normally. When the weather turns severe. 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