J. Massey, real estate investor, entrepreneur, sales coach, instructor, master facilitator of Robert Kiyosaki’s CASHFLOW™ 101 games and creator of Cashflow™ Diary, offers free training courses for new and experienced investors. Break through the clutter of learning real estate and business investing and become a successful entrepreneur. Listen to beneficial strategies to improve your skills in prospecting, placing offers, closing deals, buying, selling, wholesaling, fix & Flips, rehabs and much more. By way of Cashflow™ Diary, J. Massey basically gives away current industry strategies by simply teaching what he does daily as a real estate practitioner. Start Learning For Free Today.
How to Launch Your Side Hustle with Troy Underwood
Troy R. Underwood is an industry disruptor. Part technologist, part economist, and all innovator, he revolutionized the motor vehicle industry with the nation’s first electronic title system for financial institutions, which was later sold for $106 million. His healthcare venture, benefitsCONNECT, innovated healthcare benefits administration and resulted in a highly successful acquisition. His new book is How to Launch Your Side Hustle: Start and Scale a Business with Minimal Capital. Learn more at troyrunderwood.com.
Podcast Highlights Who is Troy Underwood? Troy considers himself a necessity entrepreneur and has been doing the entrepreneurial thing since elementary school. Troy has sold all sorts of products including greeting cards, seeds, and computers. Whatever the opportunity was, Troy was willing to take advantage of it.
For the average entrepreneurial minded person, the problem is having too many ideas. They need to take these ideas and pick one, then execute, and then when they get bored they have to keep pushing instead of flipping to the next one. Ideas are everywhere, execution, perseverance, and discipline is what’s rare. Even a mediocre idea, when executed well, can work out.
Troy’s original plan was to become a doctor, not an entrepreneur. It wasn’t until Troy took an economics course on a dare that he realized that he loved the study of economics and completely switched tracks. He kept up his involvement in computers and software development, and found himself in the right place and the right time to offer a solution that jump-started a business.
Is now the right time to start something? Now may actually be a great time to start a new business, especially for those who have been laid off with nothing to go back to. If you’ve been thinking about it for a while and you have an idea, if everything else is relatively stable, now could be the right time to give it a shot.
Being an entrepreneur isn’t an exact science, you just have to take the cards you're dealt and play them the best you can.
If you’re someone who craves certainty and security, don’t be an entrepreneur. You are able to mitigate some of that risk by being a business owner instead of an entrepreneur, for example opening a franchise which has a higher rate of success. If you’re looking for certainty, you’re not going to find it in your own business.
Who should be an entrepreneur? Creative thinkers and risk takers are the people who should be entrepreneurs. There is a lot of risk and opportunity cost in building a business and you need to be okay with taking that on.
If you’re driven by necessity you are going to have much more motivation to push through the difficult times and figure out solutions to complicated problems that can keep a business running.
Why a side hustle instead doing something BIG? Troy compares a side hustle to a rocket ship launch. It’s not just about keeping a side hustle, it’s about building something that you know will be big eventually, something that replaces your full time job in time and is worth investing in.
For Troy, it’s not abou
Be Your Own Banker and Grow More Wealth with Mark Willis
Mark Willis, is a CERTIFIED FINANCIAL PLANNER™, a #1 Best Selling Author and the owner of Lake Growth Financial Services, a financial firm in Chicago, Illinois. Over the years, he has helped hundreds of his clients take back control of their financial future and build their businesses with sophisticated, tax-efficient financial solutions.
Mark Willis specializes in building custom-tailored financial strategies that are unknown to typical stock-jockeys, attorneys, or other financial gurus. As co-host of the Not Your Average Financial Podcast, he shares some of his strategies for investing in real estate, saving and paying for college without going broke, and creating an income in retirement you can’t outlive.
Mark Willis works with people who want to grow their wealth in ways that are safe and predictable, become their own source of financing, and create tax-free income in retirement.
Podcast Highlights Who is Mark Willis? Mark’s college years are where the story begins. It was then that Mark met his future wife as well as the first woman they rented a room to. The year that they graduated school was 2008 and they left with $120,000 in student loan debt. With no jobs in the middle of a recession that was a big problem. Over the next few years the goal of Mark and his wife was to figure out a way to build true wealth and be better than debt free.
Since then Mark has learned how to become the banker in his own life and become financially immune to recession.
What was the plan you were thinking about going into school pre-2008? Like many students, Mark assumed that the money would keep on coming and didn’t think too much about the future. Studies have shown that the area of the brain associated with our future selves is the same part of the brain that’s associated with thinking about strangers, and how much are you going to save for a stranger’s retirement?
The problem is not just the 18 year olds being handed thousands of dollars of student debt, the entire country has been on a trajectory to become a nation of debtors for generations. We have become a nation enslaved to bankers, credit cards, and debt and it’s not the interest that’s the problem, it’s the volume of debt that we are carrying around.
Unfortunately the current crisis has hit us at a moment in history where we are completely unprepared for it at a financial level.
Mark didn’t graduate with a finance degree and their journey began by taking baby steps towards becoming debt free. They went lean and put as much towards their debt as possible while also doing whatever they could do generate additional passive income. Figuring out the money situation became such a passion that Mark wanted to dive into on a professional level and started working for a CPA in the midst of the Great Recession. That was when he realized that the whole financial industry was a house of cards.
Where is it written that we have to put all of our money into things we can’t access, have no control over, and multiple people with our hands in our pockets? The moment where things completely changed was when a mentor of Mark’s suggested that the path most people follow could be wrong.
What needed to be different from what you were previously doing? There were two things. The first was taking action immediately instead of waiting for the perfect conditions. You might make a few mistakes but it’s better tha
Contact Marketing Secrets: How to Get a Meeting With Anyone
Stu Heinecke is the Hall of Fame “Father of Contact Marketing" and Founder/President of the Contact Marketing Agency and Cartoonlink, which helps sales teams break through using contact marketing solutions to produce critical contact with accounts and prospects. He is a longstanding senior cartoonist for the Wall Street Journal and the bestselling author of How to Get a Meeting with Anyone: The Untapped Selling Power of Contact Marketing and the new book Get the Meeting!: An Illustrative Contact Marketing Playbook.
He hosts Contact Marketing Radio and the How to Get a Meeting With Anyone podcast, and is Co-founder of Cartoonists.org, a coalition of famed cartoonists dedicated to raising funds for charity, while raising the profile of the cartooning art form.
Podcast Highlights Who is Stu Heinecke? The ability to get meetings with anyone is a kind of superpower. Every great thing that happens in our lives is due to having the right connections at the right time. Stu studied marketing at USC but cartooning had been something that he always loved, so much so that by the time he was in college he was getting some of his work published in the newspapers in Los Angeles.
Cartoons have an incredible power to captivate people’s attention so they became a fundamental element to Stu’s marketing strategies.
Back in the early days of marketing, David Ogilvy used to say “humor doesn’t work in advertising, and people don’t buy from clowns.” Stu was one of the people proving him wrong. Initially there was a lot of resistance against the idea, but Stu was able to convince a couple of his first clients, including Rolling Stone, to give it a try and they ended up getting extraordinary results.
Contact Marketing In marketing you are always testing a new campaign against a control group, usually the most effective thing the company has ever put out. Stu’s first test campaigns beat out the controls of both Rolling Stone and Bon Appetit and became their new records. He realized that he needed to reach out to some of the key players in the magazine industry and sent each of them a customized cartoon. Most marketers use the 1% rule to measure a response rate against the performance of a campaign, for Stu’s campaign he got a 100% response rate, and they also all became clients of his, so his conversion rate was 100% as well.
That initial contact marketing campaign launched Stu’s business and career.
How can we cut through the noise with contact marketing? Contact marketing is not just about cartooning, that’s only one way of breaking through.
One of Stu’s favorite contact marketing examples involves a guy named Dan Walshman. Dan is a turnaround specialist and works with CEOs of companies that are in trouble. After combing the business news each day looking for earnings reports, when he finds one that looks to be suffering he gets a beautiful sword created that’s engraved with the CEO’s name on it. He sends that to them with a handwritten note and has been getting a 100% response from that campaign
Creating Passive Income with Chris Miles
As founder of Money Ripples, host of The Chris Miles Money Show, and co-author of the book Entrepreneur on Fire, Chris Miles is a leading authority on quickly creating wealth by increasing monthly cash flow and creating passive income. He has shown hundreds of thousands internationally how to free up or generate tens of thousands of dollars each year! Chris has been featured in US News, CNNMoney, and Bankrate.com and has a reputation for getting his clients fast, proven results.
Many of his clients have the option to retire in less than 5-10 years, and Chris himself was able to retire twice by age 39! Chris’s passion is helping entrepreneurs, and high-income employees become financially prosperous by finding and fixing their money leaks and creating passive income.
Chris and his family live in Utah, but enjoy escaping to warmer weather during the winter months. In addition to helping his clients increase their cash flow, Chris is a talented ballroom dancer, choreographed ballroom dance routines for Utah Valley University, and got 5th place in his third grade spelling bee.
Podcast Highlights What’s going on in your world today? Since the last time Chris was on the show nearly five years ago Chris was able to retire for the second time in his life. The first time he retired was at the age of 28, this time around at the age of 39 Chris was looking for something new. He never wanted to be full time again and as an educator at heart Chris continued working on his podcast and teaching people the same strategies that he used.
Chris is looking at the current situation in the world and seeing all the opportunities available to those that have been prepared.
Preparation The previous recession caused Chris a lot of problems and that’s when he learned the key lesson of never relying on only a few streams of income, because when those get shut off you’re out of luck.
Chris has a number of clients that are currently unable to work but because they have set up multiple streams of income beforehand they are able to ride out the problem.
If you weren’t prepared for the coronavirus, you need to do whatever you can. So many people have no idea what to do right now it’s like they’ve been stunned. There are several areas that people are not taking advantage of their money right now. One is the money in mutual funds and retirement plans, people pouring more money into the stock market right now are making a big mistake.
What should people do right now? Get lean, get liquid, and get out. Even during the great depression there were people that prospered and those that did were the ones who got lean and were looking for opportunities. Liquid cash is where you want to be right now, having enough cash on hand to weather the storm is crucial. Money never comes from the government in the time you expect so don’t rely on them for help right now.
If you have time, start looking for ways to create value and make money. That could be short term rentals or other forms of real estate.
Creating Passive Income The one big mistake that Chris made in the prior recession was in aiming for growth instead of plain old cash flow. The result was he went way too big on his deals and ended up losing the properties. This time, instead of going for sexy Chris went for certain.
The trouble is flashy $80,000 che
Conquering Corona With Kyle Stanley
Kyle Stanley is the host of the Fearless Flipping podcast where he educates new hungry real estate investors about best practices for getting started. We flip the roles into today’s episode with J being interviewed for Kyle’s podcast. Find out how J is conquering the coronavirus and adjusting his short term rental business to be even more successful than before.
Podcast Highlights How did you get to this point and what brought you into the short term rental business? The keyword for J is cash flow, everything he’s done in terms of business is around generating an income without physically going to work. Due to some very challenging physical ailments where both J and his wife were unable to work and earn money, they needed to figure out a solution which is what led him to real estate. Everything he should have been doing should have been geared towards creating cash flow.
The next two years were transformational for J’s business. He had no money, terrible credit, no way to earn an income, and was selling his possessions on eBay when a friend recommended he start investing in real estate. His friend didn’t let those obstacles stop him and in a relatively short amount of time J closed his first subject-to deal.
How did you find your first deal? You need to move at the speed of instruction. We need to be more like Walmart. Walmart perfected just in time inventory, we need to perfect just in time learning. There are certain parts of a real estate transaction that you don’t need to know yet, you need to learn the first step and then go out and take that step. There is no real benefit to understanding everything before you take any action.
Trust yourself to learn what you need to know when you need to know it and go out there and take action. That’s exactly how J found and put together his first deal, one piece at a time.
Real estate is a skill the marketplace rewards. We can all learn to play the real estate game once we’ve been told the rules and practiced a bit. Within 3 weeks of closing his first deal J closed an additional 10 deals in the span of a week, which was a complete mindset shift for him.
Fear is what holds all of us back, but we like to tell ourselves that we’re just being prudent. When you’re afraid any excuse will do. You have to ask yourself has anyone overcome the thing you’re afraid of because if that’s the case, the fear is not an excuse.
How are you operating right now? Most short term rental operators think about the business incorrectly and they need to understand what the problem actually is. Changing your thinking from “I have an Airbnb business” to “I have a short term rental business” will unlock your mindset and allow you to see new opportunities.
The short term rental business has existed since the American Civil War. When the coronavirus hit, J’s business took a significant hit but that hasn’t removed the need for what his business provides.
J’s business is still on all the marketplaces like Airbnb and Booking.com and he’s now adding additional channels that he planned on including later in the year. He’s also increasing the amount of online advertising he’s doing and offering coupons and discounts to previous customers.
At the end of the day it comes down to whether you understand the problem. It’s not like the business is bad, it’s just that the person with the need doe
Protecting Your Assets In A Changing Marketplace
Let me introduce you to Scott Smith, a new breed of real estate attorney with a great sense of humor and a gift for simplifying the complex. His Austin startup, Royal Legal Solutions, has a different take on protecting your assets including real estate investments and already serves thousands of clients across all 50 states.
As a former litigation attorney, Scott has a deep understanding of how lawsuits really work. More importantly, he is a real estate investor himself, with property in 10 states. Now he’s sharing his information with the world and is committed to helping other real estate investors protect their futures.
Who is Scott Royal Smith?
At the heart of it all, Scott is a guy that likes to solve hard problems and then show people the solutions he’s found. He can then connect with people in an empathetic way and help them make positive changes in their lives.
Spiritual development is very important to Scott, the biggest KPI that Scott focuses on is his sense of well being and how he shows up in the world. Awareness of your own being is the only way to connect with other people. It doesn’t matter how great your ideas are unless you can connect with what’s true with somebody else.
Scott’s mindset was passed down by his mother who taught him that there are two types of people in the world, people who think things happen to them and people that think that things happen for them. When life happens for you, you have a responsibility to reflect on and grow from your experiences.
Why did you choose to become an attorney?
Scott started his career as a litigator suing insurance companies with the overall goal of trying to change the industry. One thing he found along the way was you have to be really careful about what you want because you just might get it, and if it turns out you don’t like it you’re in trouble.
Scott had been investing in real estate at the same time and was making more money investing than he was in his career, so he just decided to make the switch on what he was focusing on. It was in the process of learning the real estate investing ropes that he encountered a bunch of interesting problems that a lot of people were constantly asking about and that was the seed for Royal Legal Solutions. Now he teaches people how to make complex real estate investing problems simple.
Scott doesn’t consider himself an attorney now. He may hold a law license, but what he does now is focus on helping investors.
From a business owner perspective, what are the things that we should be thinking about but are overlooking right now?
Real estate investing is also a business once you get to a certain point and protecting your assets becomes absolutely crucial. The things that impact business owners will also impact real estate investors.
The first step is to tap into any established lines of credit you have. Long term secured debt is ideal with low interest rates. Pull out as much cash as you can because we don’t know what’s going to happen with liquidity markets and they are probably going to seize up. If they do and you have cash, you will have money on hand to take advantage of opportunities that come up. If
Cash Flow Diary with J. Massey
Excellent show, inspiring topics. Great job J
I came across J.Massey when he was on another podcast that I listen to, and decided to check out his content as I was impressed at his knowledge, and how he came across as a guest. I really like his show, and I like the mix of guests (not just real estate investing)!
Something for Everyone
J interviews a wide array of entrepreneurs who have created cashflow in all types of businesses. He asks great questions and the answers produce amazing nuggets and insights for any type of entrepreneur. The podcasts will be useful to anyone from the struggling newbie to the seasoned veteran.