How to Survive an Economic Collapse

Solomon Ali Economic Collapse

To survive the, economic collapse, first thing I would say you need to do is you’re going to have to acknowledge where you are financially. The beauty of an, economic, downturn is that  there are more successful people created during a period of, economic collapse, than any other times. The, economic collapse 2020, is no different.

My guest today is Solomon Ali author of “The Empowered Wealth Bible” and “Economic Survival” and we’re going to be talking today on “How to survive an, economic, collapse because I think we’re heading to an, economic, collapse.

Introduction to How to Survive an Economic Collapse

Solomon, I’m very curious to hear your backstory, how did you become an expert on, economic, conditions?

Immediately after high school, I went into the military.  I went to a predominantly white high school and my guidance counselor said I had good GPA; but they never directed me to go to college or university,  so I went straight into the military.  I made it to the rank of sergeant and learned how to manage people and how to build a team.

When I got out of the military and went home, I couldn’t find a job, common story.  So I started helping my parents clean up their rental properties.  I ended up organizing the cleaning crews. We became a mobile company, cleaning up apartments, painting them, doing minor repairs so that the apartments could be ready for the next tenant to move in.  I had a team of people structured like an assembly line.  We had people come and do the masking of everything.  We would mask off four or five apartments at one time. The next group would come in and they would clean the tubs and the toilets, and the next guy would come in and paint it. Then someone would come back and take all the masking tape off, vacuum and shampoo the carpets and we were done.

Sponsored AD

Author Betty Tucker shares the story of her life in her memoir, Don’t Worry About The Mule Going Blind.

Betty Tucker came of age in Belle Glade, Florida, infamous for its poverty and violence. Her childhood was one of de-bili-ta-ting poverty, borne of racism, exploitive migrant labor, multiple rapes and other abuse, and chronic illness among her family and acquaintances … the list is long and bitter.

Betty moved to California, earned her College  degree, and raised a family. Then, in 1997, she began a long and eventually successful search for the twin girls she had given up for adoption thirty years earlier.

Don’t worry about the Mule going Blind is a book about Fear, insecurity, sexual abuse, and neglect: This memoir will look beyond the description of these difficulties in the author’s life to examine how she acquired the tools she needed to take more control of her life, and what decisions impacted her choices.

Pick up your copy today! Don’t worry about the Mule going Blind now available on Amazon.

Now that is, economic, survival. Surviving the rental income business.  That sounds like the best structured management cleaning that I have ever heard, and I do property management as a Realtor!

We had over 70 people on our team. We went from zero revenues, to a little over 6 million in 12 months! But I was not able to collect all my money.  I had all these accounts receivables and I had payroll that was coming up.  So I got on my knees and prayed one night and I was talking to God, and the next day I’m looking in the LA Times and I see a company advertising for accounts receivables loans.  I called the guy and left a message on Sunday he calls me promptly on Monday morning and he went over everything. I made the trip to San Bernardino, California and got a check for $380,000. He bought all my $500,000 accounts receivable accounts.

Sponsor The Transform Your Mind Podcast
Sponsor The Transform Your Mind Podcast

That was my first lesson on, economic, survival in the form of risk management.  You do not want to have a huge concentration of your business coming just from one or two customers, you want to make sure that your company it’s more diversified.

That is what I do today. I consult companies on how to survive, economic collapse, or downturns because they come about every 10 years. I teach them how to scale, how to grow, and how to access the finance world.  In other words how to arrange capital, so they can do their roll-ups for this , economic collapse 2020.

We check out the competition and then we begin to set up what I call mirroring.  We design a program that fits my client so that they can grow and scale their business and we’re able to access capital for them.  I may have private equity companies that I have arrangements with and I get very passionate about helping others fulfill their dreams.

Sponsored Ad

Stuck at home? Here is the perfect store for you. Whether you are looking for medical supplies, home workout equipment, or survival gear, this is the place for you! Visit www.consumermedicalsupplies.com and get a  10 percent discount when you Use promo code MYRNA.  Hurry, this is only while supplies last!

This website was created by a veteran who wants to help those ashore and abroad, so support our military while you shop! That’s www.consumermedicalsupplies.com

Transform your Mind Spotify Podcast
Download on Spotify

What does your book “The Empowered Wealth Bible” teach us about, Economic Collapse 2020?

That book speaks in reference to the different tricks of the trade, how you survive, economically, and raise the capital for your business. It teaches you how to use personal credit and credit cards.

It is extremely helpful to the new entrepreneur trying to fund his business as well to the mother wanting the best for her family.

There is one chapter in the book where we talk about how we could take your credit card money’s right from your credit cards and apply it to your mortgage and rotate that around cutting the interest rate on your mortgage and shortening the time period.  The book also shows you how to start a business with very little to no money and still be okay in an, economic collapse. Things like that, it is all about, economic, survival.

I started my private equity company back in 2009, I started with two hundred and fifty dollars and by the end of a year or so I was making millions of dollars.

Sponsored AD

Need Rocket Fuel for your immune system? Weather you have a Healthy lifestyle or not, no one escapes the consequences of cellular breakdown.

Think of your body as the most complex communication network that exists. Every second of every day your cells are passing tremendous amounts of information, from cell to cell and throughout every system of your body.  Any breakdown in this vital communication and you cannot achieve your full health or healing potential. Your body would be like a house on fire and you can’t call the fire department because you have no cell signal. So you watch your home go up in flames!

This is what Asea REE-dox signaling supplement does. We have the only technology in the world that can increase this critical cell signaling throughout your body.
Asea REE-dox Signaling supplement has been clinically proven to boost your immune system to optimal levels.

For more information go to www.iseeuhealthy.ca

Transform Your Mind iHeart Radio
iHeart Radio

In Les Brown’s new book “You got to be hungry” you must be hungry for success. You must be hungry  to achieve your set goals and work your strategies to achieve, economic, survival.

We are now smack in the, coronavirus, pandemic and the, economic collapse 2020.   Companies are closed, millions of people have lost their jobs and everybody is scared about their future.  It’s really interesting that you had the premonition to write the book, Economic Survival, before we faced an, economic, collapse.

I understand we are heading into a recession even a depression.

Sponsored AD

My tax lady Miami.com wants to help you Get your Stimulus Check!
The IRS has released their new Web Tool to update your info in their systems for your stimulus payment :
If you have already filed your return, you don’t need to do anything.

If you didn’t file yet, download the My Tax Lady Miami App NOW and let’s get your refund AND your Stimulus Payment 🤑
If you know someone who doesn’t usually have to file a tax return (the elderly, disabled and/or very low income individuals) and wants to receive their stimulus payment,  https://mytaxladymiami.com/ or have them contact My tax lady Miami  to file a simple return ASAP.

Transform your Mind TuneIn Radio
TuneIn Radio

https://www.irs.gov/coronavirus/non-filers-enter-payment-info-here

 

How would we survive economically if the US, economy, was to go into, economic collapse 2020?

Firstly,  I’m going to say we’re already in a recession. Our, economy, is already seeing an, economic collapse 2020. We haven’t saw seen all the manifestations of what’s going to happen, but anytime you shut down businesses state by state, you’re losing your, economic, base within those states.  So all of these businesses shutting down resulted in I think as of today there’s over 37 million people filing for unemployment.

Let’s put that in perspective, that’s not counting the people who are self-employed, who are not able to file for unemployment.  So you have to add millions or more to that number, that’s not also counting the people who are just giving up and not looking for work. That’s millions more.

I predict that the US unemployed will be closer to about 60 or 70 million by the 3rd quarter. I predict we will see an, economic collapse.

I’m going to Segway  over to the African American businesses.  On average there’s approximately five million businesses existing in the United States with ten or more employees.

African American companies there are only about one hundred thousand or so with ten or more employees.  That’s a big and significant difference between five million to a hundred thousand.  That tells us that the majority of us, African-Americans,  are working for other people and those jobs are no longer going to be there in the future.

Sponsored AD

Want access to learning tools that will help you improve your life? Visit www.loyaldetermined.com! Loyal Determined offers online dating courses for both women and men which are easy to follow and will help you improve your existing relationship or assist you in making your next relationship succeed.

Loyal Determined also offers online math courses for students who want to sharpen their skills in courses like Algebra and Algebra 2 in an engaging and effective way. Loyal Determined is constantly offering awesome new online courses to help you improve your life so be sure to check their website frequently. Visit www.loyaldetermined.com today!

Transform your Mind Stitcher
Transform your Mind Stitcher

Small businesses create the majority of the jobs, however your larger companies employ more people.  So when you place all this in perspective African Americans are not going to have anywhere to go and will suffer more from an, economic collapse.

Here are some strategies on surviving an, Economic Collapse:

  • To survive the, economic collapse, first thing I would say you need to do is you’re going to have to acknowledge where you are financially. The beauty of an, economic, downturn is that  there are more successful people created during a period of, economic collapse, than any other times. You have to solve someone else’s problem, you have to be of service to someone,  so that now you have people looking for you because you become in demand.

New businesses will be created like, AirBnb, created in the 2009 financial crisis.

We are losing millions of businesses but new businesses are created during an, economic collapse.

  1. After you solve someone’s problem is you have to educate yourself. You have to remove the fear, because fear will paralyze you.  Once you remove the fear you will be able to go out and help someone else.
  2. A lot of people that have the employee mindset will have to switch because they are not going to do well. Unfortunately our, economy,  and, economic survival, depends on developing an entrepreneurial mindset.  We’re going to be living in the, economy,  where a job no longer exists.  You’re going to be a subcontractor, you’re going to be an independent .
  3. You have to look at where are you today financially and reset your priorities. Instead of loosing your home in the, economic, downturn because you lost your job, maybe your parents have a room you could live in and you could rent your house. You’re going to have to be willing to do what is necessary for, economic survival.
  4. Immediately begin to renegotiate your debt so that you can have more cash flow.
  5. Diversify – you may have to do some joint ventures with other companies or other people.

Sponsored AD

Ladies, if you’re looking for premium luxury hair extensions and products, take a moment and check out myminghair.com. MING HAIR is your #1 premium virgin hair company for quality Indian and Brazilian hair, lace wigs, magnetic lashes and custom hair & beauty accessories! We want you to look and feel your best, so we offer a wide array of styles, lengths, custom colors, bundle deals and much more!

We believe in customer satisfaction which is why you earn rewards on every purchase! You will not be disappointed. Our hair is bouncy, luxurious, long-lasting, and stylish!
Visit myminghair.com today and receive 20 percent off your first order and get exclusive access to other promotions. We look forward to making you a long-lasting customer with MING HAIR.

 

 

Author interview Transform Your Mind Podcast
Author interview Transform Your Mind Podcast

Conclusion

How do you think the Real Estate Market will fare in this, economic collapse 2020?

I think we’re about to see by the last quarter of this year a lot of foreclosures will begin to take place.  I believe a lot of people will begin to lose their homes.

For those investors who have the cash flow and the ability to buy, they will be able to pick up properties at a significant discount, because the banks are going to have to give rid of those assets off of their books.  Credit lines will be cut by the end of the third quarter.  I’m pretty sure maybe even at the beginning of the third quarter the credit lines will begin to get cut, which will have a trickle effect on the, economy.

What we do know is that our, economy,  is not coming back anytime soon.  We may have as many as 60 million people unemployed.  People don’t have any reserves and if you don’t have any reserves at the beginning of the, economic collapse, then what is going to happen after you have been unemployed for a year.  Robert Kawasaki, of Rich Dad Poor Dad,  was saying that what you do is you find out your runway for your business or personal life. How much money you have in the bank to take care of the essentials, housing, food and transportation?

Robert is  absolutely right.  We were all taught to have six months of reserves,  but if the last, economic collapse, in 2009 taught us anything, is that it took people 18 months on average to get a job so we were wrong saying to have six months of reserves,  you need to literally have two years of reserves. Most don’t even have one month.

How does Private Equity Investing help with, economic survival?

I love private equity, I love loaning out money and helping people to fulfill their dreams.

I have a passion right now for minority businesses. There’s approximately 13,000 publicly traded companies all together but, there’s only 13 black publicly traded companies currently.  I sat on the board of directors of three and I was Officer of three all at the same time, where I was responsible to help them raise the capital they needed to, survive economically. The companies that I helped, they were not only successful they became in the top 5 companies.

To purchase any of Solomon Rc Ali books or for consulting services visit his website

https://www.solomonrcali.info/ follow him on twitter and Instagram and Facebook @supportsolomon.

Additional Resources

https://blog.myhelps.us/how-transform-your-career-with-purpose/

https://www.learnhowtobecome.org/entrepreneur/

 

 

 

How to Deal with Grief from Death or Incarceration

Coping with, grief,  either from death, divorce, incarceration, job loss, or even loosing your home is devastating. Mental Health counselor, Arifah Yusaf  and, Life Coach, Myrna Young shares strategies for coping with loss.

I have been fortunate at 60 years old to not had to deal with the kind of, grief, that tears your soul out. The kind that of,  grief,  makes you want to die. The kind that  hurt so bad that you can’t get up out of bed for weeks.

I have heard stories, and I have had a front row seat to my daughters grief when she buried her fiancé.

Grief, from Losing a Child:

I was listening to an interview with Anderson Cooper a few months back and he was telling the story of his brother suicide. Then I heard his mother, Gloria Vanderbilt,  talk about it. Put yourself in this scene.

Your 22 year old son wakes up from a nap and comes into your room. Asks you some question you don’t comprehend and then runs out of your room onto the balcony of your 12th story Penthouse suite and jumps to his death while you watch, shocked out of your mind.

Gloria Vanderbilt, had this experience. In an interview she said in her, grief, she stayed in bed for 2 weeks and cried and cried until she ran out of tears. Since then she has not cried once. She says it is as if, she has no tears left.

When a loved one commits suicide the, grief, is even more acute because there is blame wondering what you may have missed, could have done to prevent it, are you the cause etc.

But after hearing that interview, I heard another interview on the, Mental Health Happy Hour podcast, that penetrated my consciousness about the horror or, grief,

Podbean Transform your Mind Podcast

Podbean 

Grief and the Death of a Spouse:

The guest told the story about, the death of her spouse, seeing her husband drown in front of her and how her world changed from that day.

Here is her story. She said her husband Matt was a super athlete very strong. She gave us the mental picture of him hanging from a cliff with one hand and in the other hand pulling up his 17 year old son.

One day before they picked up her husband’s son from the Airport, they decided to take their dog for a walk in the woods by their home. Her husband decided to take a quick swim in the river, something he did several times per week. She decided to keep playing with the dog.

After some time, she said she heard her husband cough once and she didn’t think anything of it. She said to herself, he got water into his mouth again. When she heard him cough again, she decided to investigate. When she reached the river, she saw her husband clinging to a branch in river. She knew something was wrong.

The river looked the same as it always looked, very calm on top; but as soon as she stepped into the river to help her husband, she felt the strong undercurrent. The current took her and her dog up the river for about 2 miles before it spit them out on the shore. She said she was then lost in the woods for about 45 mins before she was able to get help.

They began a search and rescue for her husband, but  after 3 hours it became a search and recovery.

They found him entangled in weeds at the bottom of the river.

Her, grief, extended to having to tell Matt’s son that his father was dead. What it felt like to pick up Matt’s son from the airport the day before his 18th birthday.

Knowing that Matt’s son could never again celebrate his birthday again because it will always be the anniversary of his Dad’s death. She talked about having to call Matt’s parents and tell them their son was dead. She said his father hung up on her he didn’t want to believe it. Calling all his friends in his phone and telling them. Her, grief,  was unbearable.

She said she could no longer practice her profession as a therapist, because she couldn’t listen to other people’s problems anymore. But the point she wanted to convey by telling her story, was that while she was in mystery and her world changed forever, her neighbors world and everyone else’s world continued unchanged.

The sun came up the next day, her neighbor came out the next day and picked up his morning newspaper. She likened it to going to the movies, you pay to see a comedy but while everybody else is laughing your screen split and you are watching a horror movie.

Transform Your Mind iHeart Radio
iHeart Radio

Grief from Suicide:

My firsthand experience with, grief, was seeing the pain it caused my daughter when her fiancé committed suicide. His mother called me and I thought she was joking when she said ” The boy killed himself” until she said why would I joke about something like that.

I had the unenviable role of telling my daughter her fiancé was dead. I can still hear her screens of anguish. I didn’t know what to do.

Her world changed. She quit school. She was doing her Masters degree at the time.

She went back later; but I had to call her professors and tell them the situation.

Then she had to deal with the funeral and the burial.

I didn’t know what to do, what to say or how to help her with her, grief.

Transform your Mind Spotify Podcast
Download on Spotify

The therapist said that most people don’t know what to do or say.

Because our culture spins the tale that life must go on and that everything has a purpose.

She feels that is bullshit to sat that her husband died, so that she can use her pain to help other people. What she is doing now.

She said you can’t tell a mother who lost her baby that God had better plans for the child.

We will go through her suggestions for helping others deal with, grief, and what you can do to help later on in this blog

Grief and loss, Transform your mind podcast
Grief screaming

Here is how to deal with, grief from incarceration: Grief Counseling,

In the co-host chair is Arifah Yusuf Mortley, registered social worker, mental health counselor and founder and program director of Lifted by Purpose.

How is, grief from incarceration, similar to losing a loved one in death?

In my experience I have supported both clients in, grief counseling, dealing with, grief, of a loved one who died and secondary loss, such as losing a loved one to incarceration. When speaking with my clients, dealing with the loss of a loved one, I always listen and provide the space and opportunity for them to be heard and share their feelings.

It’s important for them to know during, grief counseling, that grief, is a natural response to loss. It’s the emotional suffering you feel when something or someone you love is taken away. The more significant the loss, the more intense your, grief, will be.

Emotional reactions of, grief,  can include anger, guilt, anxiety, sadness, and despair.

During, grief counseling, clients may associate grieving with the death of a loved one—which is often the cause of the most intense type of, grief, but you can also experience intense, grief from incarceration,  or losing a loved one to incarceration.  For example, I had a client who was pregnant and her fiancé was sentenced to 6 years in prison.

Even though he did not die the, grief, was intense from her watching him get sentenced and taken away the same day, delivering their baby without him present, and raising their child on her own.  She would drive 3 hours to visit him and 3 hours back home once a month and speak to him as often, as she could afford.

Over time the, grief from incarceration, took a toll on her, as this was not the family life she had envisioned for herself.  Likewise, it was difficult for her fiancé in prison, as he felt he was missing out on the experience of raising their child, and the experience of being the father he promised himself and her, he would be.

He felt disappointment in himself and a disconnection to his family. He also, experienced, grief,  from loosing his freedom, and the ability to provide for his family.  He also grieved missing all the milestones of his child’s life (ie. Missing first words, walk, first day of school, birthdays) and intense worry about their health and safety. As well, wondering if his girl would leave him for someone else. The inevitable of not being able to fully control situations, was an intense loss for them both, and sometimes, she would say it felt as if he was gone and not coming back home.

Transform your Mind TuneIn Radio
TuneIn Radio

Steps to helping friends or family members deal with, Grief:

1: Never say get over it or it is for the best.

2: Allow them to grieve. If they want to talk about it listen. They need to feel heard. In fact they will talk about it until they feel heard.

  1. Help them by taking care of daily necessities like child care, cooking, cleaning, taking out the trash, picking up kids from school etc. A person in, grief, is not capable of doing any of these things.
  2. Sit with the thought that time does heal. The therapist went back to work helping others, my daughter went back to school and graduated on time with her Masters degree. She is getting married in December. Anderson Cooper decided to send himself to the war zone and report news. That is how he dealt with his, grief. That launched his career as a reporter.
Grief from incarceration, Transform your mind Podcast
Grief behind bars

How to Deal with, grief from incarceration, or death?

Listen and engage  in conversations about the loss, so they can begin to recognize the reality of the loss and confront their own emotions (e.g. loneliness, sadness, helplessness). These stressors include things like thoughts, feelings, actions, and memories that cause us to feel, grief, and focus on the loss.

I share the Tear Model when working with clients, which focuses in on the following.

 

The Tear Model to help with, Grief

  • Accept the reality of the loss
  • Experience the reality of the loss
  • Adjust to a new life without the person
  • Reinvest in the new reality

 

I often explain that restorationorientation refers to coping with issues related to secondary changes brought on by the loss (e.g., financial, family demands), and adapting to these issues.

A griever will go between confronting the loss and avoiding the loss.

Transform your Mind Stitcher
Transform your Mind Stitcher

Helpful ways to cope with, Grief, and Loss

  • Express yourself. Talking to a trust friend, family member or counselor is often a good way to soothe painful emotions.
  • Allow yourself to feel sad. It’s a healthy part of the grieving process.
  • Keep your routine up.
  • Sleep.
  • Listen to music or express your emotions using the arts
  • Connect with your spiritually.
  • Eat healthy and exercise.
  • Avoid drugs and alcohol.
  • Honor your special person and treasure fond memories (drawing, photos, music, and memory box).
  • Connect to nature – go for a walk, breathe in the fresh, focus on what you see outside (i.e. Trees, birds).
  • Make a special memento to perverse a loved one’s memory. Write a letter to the person.
  • Lean on support from friends, family, professional support.
  • Learn about grief resources, support groups, grief professionals.
Transform your mind iTunes Podcast iTunes
Download on iTunes

 

ADDITIONAL RESOURCES FOR COPING WITH, GRIEF

How to Heal Your Brokenness

Life After Death, How an Atheist Became a Believer

How to Find Love, the Second Time Around

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3131745/

 

https://www.themarshallproject.org/2017/11/10/the-singular-sorrow-of-grieving-behind-bars

 

How to Build Multiple Passive Income Streams

Passive Income Retirement

Looking for, passive income streams, for retirement? Jack Gibson, President of High Return Real Estate, shares how to use real estate to build passive income.

Today’s episode in the 3rd in our series on building wealth with Real Estate investments.  My intention is to sow seeds into your subconscious that 2019 is the year to build your net worth. The power of intention is an invisible force of energy in the Universe. It is activated when we become inspired and will propel us towards our goals.

Passive Income Coach Myrna

Looking for a Passive Income Coach? Check out my one hour coaching special on Shopify  

  • Guest Biography

Jack Gibson began his entrepreneurial journey at 19, and founded his first company at the ripe old age of 21. Operating a successful nutrition consulting and distribution company.  He had built a multi-million dollar venture before he was old enough to rent a car. Soon thereafter, he bought his first home as an investment. One home quickly became five, and then the bug hit. He became obsessed with learning everything about Real Estate Investing and soon had over 50 investment properties generating Massive amounts of passive income. Today, Jack spends his time mentoring other entrepreneurs, building his real estate investment portfolio, and helping other investors to build a brighter future through the power of turnkey real estate income.

 

Sponsor this podcast

Sponsored AD

Are you one of the millions of uninsured Americans who currently suffer from type 1 diabetes and is struggling month to month to afford your insulin because of the ongoing prices? Then ReferralRX.comis your solution.  Through our free specialty insulin referral program we can help our customers as well as pet owners save forty to fifty percent off of their insulin.  Guaranteed!  So stop the struggle and visit www.referralRX.com or call us direct at 888-381-6675 to find out how we can save you thousands of dollars off of your insulin without draining your pockets like the big chain pharmacies do.

Show Notes

My very first business that I started at age 19 was  a multi-level marketing nutrition distribution business.  The whole goal of that business was to build up a sales team and create ongoing, passive streams of income, so  I got that concept right away. I built that business up over the years and we currently have annual revenues over ten million dollars.  The last couple years it’s been a little bit more part-time or quite a bit more part-time as I pursued building my real estate company.  But I mean I still love it, I still love the people and I love the, passive streams of income,.  Two years into my network marketing company,  I read the book Rich Dad Poor Dad, that was the book that really transformed my mind to start thinking about utilizing real estate as a way to deploy the cash that I was making in my primary business and add additional, passive streams of income,.  I was still investing in stocks until about 4 years ago.  I was in stocks for most of the last 14 years, so about four years ago two events happened that were critical and really pushed me over into investing into real estate as another, passive streams of income,

There were two negative events,  but you know most negative events if we look back we can find the good in them.  One of them was I had some insider information, not anything illegal by any stretch,  I mean I knew that our company had a good earnings quarter.  I mean it wasn’t that hard to figure out based on what I heard from all my colleagues, so that’s kind of my insider information.

I bought into the stock about a week before the earnings report was to be released expecting things to be great.  Well the earnings report was phenomenal and typically, not always but typically stocks go up when the earnings report is great.  Well this  billionaire Hedge Fund investor was very well known as  an activist in terms of shorting stocks.  He gets on our company earnings call,  he asked  three or four pointed questions and then it appeared that he was shorting the stock;  the stock drops 30% overnight.

TuneIn Radio

Stocks as a, passive streams of income,

I realized then that I didn’t have control over stocks. Not even a sure thing is guaranteed. I want to be in the driver’s seat and put myself in a great position where I have as much control over the outcome as possible.  I took that as my sign that this is my time to learn a new asset class and another, passive streams of income, it was the final push.  I told myself, I’m going to draw the line in the sand.  So I studied real estate and listened to podcasts for a hundred straight days.

Jack you know that someone listening is going to pay devil’s advocate and say the same thing happens in real estate.  What’s your come back on that?

iHeart Radio

So here’s what we have to consider when looking at real estate as another, passive streams of income,  we look at the past.  I mean could go back 100 even you know 200 years or whatever, the variance between real estate and the stock market is almost four times different.  If you look at historical data,  the swing in the stock market is around a variance of 16 or so from year to year.  Real estate has a variance of four.  That means from year to year on average that the swing in the market is going to be four percent, so you’re not quite so volatile in real estate.

The other part in this, passive streams of income, scenario  is it that you’re  investing in the real estate as  Robert T. Kiyosaki says, for the cash flow that it produces.  Not necessarily for it to go up in value.  You really don’t care if it appreciates or depreciates. As an investor and you’re renting it out and you will always be able to rent it out for more than the mortgage payment.

Google Play

 

At the same time  property values  will go up eventually, even if it dips for a little in the short term.  I was listening to the Automatic Millionaire Homeowner and the author was interviewing homeowners who lived in their homes for about 2 years and then sold and moved to bigger homes, and became millionaires because homes always go up in value.

We’ve discussed  real estate, we’ve talked about the stock market and we’ve also talked about multi-level marketing.  I understand why that’s been your foundation for, passive streams of income, because you’ve been you’ve been taught well.  You stayed in the business  for 20 years so you must be really doing well, because everybody that joins the business under you feeds you, passive streams of income,.

Multi-Level Marketing a Tool for generating, passive streams of Income,

Yea, it is phenomenal. If I could describe the business to people without saying what it was they’d be like wow that sounds too good to be true. I have a multi-million dollar business that I work right here from my home office.  That I help people with their health and nutrition. I have no employees, I have no accounts receivable.  I have no inventory, I have no monthly overhead whatsoever.  I have a free cash flowing business that produces ten to twelve million dollars in sales revenue per year.  That’s not obviously my income; but a percentage of that.

Skilled , passive streams of income: Writing a book, Music, software

That’s why, passive streams of income,  is so important.  On my website, www.myhelps.com  I talk about a some other forms of, passive streams of income,  like writing a book, or writing music.  Mariah Carey wrote the song “All I want for Christmas”  in 15 minutes. She’s generated sixty million dollars in royalties off of that 15 minute work.  So her, passive streams of income, is phenomenal.

Explain what we mean by, passive streams of income,  which ones would you recommend it to a seasoned investor or someone just starting out?

Passive income is created from work you have done in the past, that is paying you today.

You have one or two scenarios.  You either have money at work or capital at work and you’re drawing royalties. There’s multiple ways to go about creating, passive streams of income,  it boils down to either unskilled or skilled forms of passive income. It’s like what you talked about in terms of creating music and selling music, or writing a book, or creating a piece of software that you then are able to license out and sell.  Those are very technical skills, very skilled types of, passive streams of income,.

Creating, passive streams of income, from a business  I won’t say is unskilled in terms of work. It does it takes skills to put the right management team in place.  There’s a way you can have any type of business that you set up  to become a, passive income stream, if you’re not involved directly in day-to-day operations, then it’s a, passive income stream, business.

To listen to the full interview, download on iTunes and please subscribe and leave a review.

Download on iTunes

Check out Jack on the web https://highreturnrealestate.com/.  All of our properties are listed on the website. Nicole is the Head of Investor Relations and she will be happy to answer any questions.

On the nutrition side,  we have a brand new system, it’s a nine week online body transformation Course that we’re planning on scaling so that over 10,000 people can participate. Check out Jack’s Body Transformation podcast 

Sponsored AD.

Are you looking for a tutor for next year’s math class?  Your wait is over. Frederick Douglass tutoring online services is here to serve you.  Your tutor is a college graduate with years of experience tutoring hundreds of students in math.  For more information please call 469-301-1386 or visit www.douglasstutoring.com

 

Additional Resources:

Top 20 Areas In Miami For Increasing Property Values

25 Best Passive Income Ideas to Make Money in 2019

https://wellkeptwallet.com/passive-income-ideas/

https://wallethacks.com/passive-income-ideas/

How to Create a Freedom Lifestyle with Investment Property

How to Create the Freedom Lifestyle through Real Estate Investments.

How to Create the Freedom Lifestyle through real estate investments.

Would you like to learn the secrets of creating a Freedom Lifestyle with Real Estate investments? Then listen to this weeks podcast as I interview Mike Wolf, Real Estate Investor.

• Mike Wolf has been a real estate investor for over 28 years. Over the years he’s gone from being a workaholic who would put in 15 hour days 7 days a week to being someone who works smarter not harder. He regularly travels the globe doing humanitarian projects and also seeking sun and sand while living off the passive income that he has created through real estate.

But before I share Mike’s advise with you, let me give you my tip of the week. Because I know you really want to know how to get rich!!

You can read the full article here:

7 Steps to become Rich

How To Get Rich: A 7-Step Blueprint For Success

Step #1 — Add Massive Amounts Of Value

Go out there into the world with the desire to add massive amounts of value?.

Step #2 — Be Grateful

It’s really easy to look at certain strategies and techniques in business or in life that will help you make monumental leaps forward, financially speaking. But that doesn’t take into account one of the most important ingredients for success. If you’re serious about succeeding at the highest level, be grateful. Not tomorrow. Right now. In this very moment. Why? Because it could all disappear in an instant. Appreciate what you have while striving for more.

Step #3 — Get Specific About Your Goals

Getting wealthy or attaining a certain level of income is just like achieving any other goal. To get there, you need to ensure that you set those goals the right way. Set SMART goals and be very specific about them. Don’t set them arbitrarily in your mind. Write them down and come up with powerful reasons why you absolutely must achieve them. That’s one of the biggest and most potent internal transformations that you could make in your mind.

Step #4 — Create And Follow A Plan

When an airplane leaves from one city to the next, it has a plan. Its plan is called a flight plan. It’s a massive action plan that involves speed, altitude, direction of travel and many other facets. But what happens when there’s turbulence or air-traffic congestion or it needs to change course for some other reason? The plane changes its plan. But it doesn’t change its goal of where it’s going. Create and follow a plan, and don’t be afraid to change it if you see something isn’t working.

Sponsorship Deals

Sponsor an Episode
Step #5 — Pay Yourself First

We’ve all heard the saying. Pay yourself first. But how many people follow it? The truth is that most of the world lives with a scarcity mentality. They go paycheck to paycheck, petrified of what might occur if they get sick or lose their job or something else traumatic happens. The truth is that if you don’t pay yourself first, you’ll never be able to get rich. It’s part of having an abundant mindset and should be prioritized at all costs.

Step #6 — Mind Your Own Business

While it is possible to make a lot of money while working for someone else, the truth is that you should mind your own business. Start and grow your own business, no matter what it might be. Identify what you’re really good at, and develop the skills into a business that you can expand over time. Don’t look for instant payouts or overnight riches. The reality is that it’s going to take time, so you might as well start now.

I wrote an Ebook called “How to Mind your own Business, While working your Day Job”

Download your FREE eBook here:
http://myhelps.us/

Small Business: How to Mind your Own Business while working your day job

Step #7 — Contribute To Others

The last step resides in the concept of contribution. Even if you have no money, find a way to contribute to others. Look for opportunities where you can help those around you. Whether they’re in need or not, this mindset will drive home the point that you have more than you need, even if you physically don’t. Search for ways, every single day, where you can contribute either your time or your money to those who might be less fortunate, because that’s the true essence of success in every form.

Also click the link below to hear from Tony Robbins on how to create Wealth and Lifestyle

Learn the secrets to true wealth, abundance and financial freedom at TonyRobbins.com.

Show Notes:
1. Question 1: Can you tell our audience your journey from being a 15 hour per day 7 days a week workaholic to living off passive income and travelling the world.
2. Question 2: As an investor for 28 years, what are some things you have learned that work and some that don’t work.
3. Question 3: How does someone get started as a real estate investor?
4. Question 4: What would you say are some of the biggest myths in real estate investing?

Before we continue, I want to tell you about This great opportunity right here in Fort Myers, Fl, presented by Real Edge Real Estate.

Luxury Waterfront Condos

ONE of a kind and just 28 of them
If you’re looking for a new waterfront home in Fort Myers, FL that is brimming with luxurious amenities, look no further than ONE Fort Myers. Located on the bank of the picturesque Caloosahatchee River in the historic Fort Myers River District, ONE stands alone in its architectural design, boasting water views more than a mile wide.
With just 28 condos available, ONE Fort Myers provides both luxury and quality.
ONE is luxurious from top to bottom. Each of the 28 two- and three-bedroom residences within the 18-story boutique tower provide sweeping views of the river below. The homes range in size from 1,500 to over 5,000 square feet and have expansive private balconies, smart technologies, private entrance elevators, chef-inspired kitchens and tranquil bathrooms. Whether you work from a home office, love to entertain dinner guests or enjoy relaxing with your family, our luxury waterfront condos offer spacious layouts and quality amenities to provide maximum comfort and enjoyment.

For more information on this One of a kind lifestyle please visit
https://www.proxioshowcase.com/profiles/myoung353

Question 5: How do you show potential clients that trading their time for dollars is not worth it?
What does your company do for investors around the world?

My company buys real estate in bulk 20 to 40 at a time for a great package price. We sell the properties that are not worth rehabbing to the Hedge Funds and then team fixes up the rest of the properties and have them ready for a turn key operation for our investors.

Question 6: What is the strategy for living Freedom Lifestyle through real estate investments?
Our strategy is to have the renters become potential home owners and give them a 3 year lease with the option to purchase. They then take care of the property as if is is their own so we have less vacancies and move outs.

1. Can you tell our audience about your webinar on how to create turn key properties?
How can our audience sign up for it?

Here is the link to sign up for Mike’s webinar

mikewolfproperties.com/webinars/turnkey-properties-in-atlanta-live/replay/

Please subscribe, rate and review if you liked this content.

Subscribe to the Transform Your Mind Podcast

Is Starting A Real Estate Investment LLC A Good Idea?

Real Estate Investing LLC

This week on The Mindset Transformation Radio show and Podcast with Coach Myrna and Rich Dad trainer Trevor Evans, we discuss the topic “Is Starting A Real Estate Investment LLC A Good Idea?”

This is the 6th episode in our Funding, Fixing, and Flipping Series:
Listen in to understand how important setting up your Real Estate Investment business with the right tax structure, would allow you to keep most of your investment income and not pay all of it to the tax man!

Tip of the week from Coach Myrna: Landlord LLC benefits
If you hold and rent Real Estate, this article could offer massive insight on one possible way to structure your company. We are not giving legal advice, just questions for you to ask you asset protection attorney.
Keeping in mind the risks associated with opening your business as a sole proprietorship, consider using this scenario for your business.

Open an LLC, purchase a property, but don’t manage it. That’s right, don’t be the one to manage the property. You can use the combination of a C-Corp and an LLC. Let the C-Corp manage the company. This is good to reduce liabilities. How? Let’s take an example.

For the last four months, the tenants have been complaining that the parking lot in the complex you own is too dark. They don’t feel safe walking to and from their cars at night and want to have you install more street lights to brighten up the area. They continue to complain to the management company, the C-Corp, letting them know of the issue. Having not addressed the concerns, the parking lot remains dark and one night, while walking in from her car, a young mother of two who live in your property is robbed at gun point in the dark parking lot. When she sues, who is liable? The LLC? They own the property, so it would be them, right? Wrong.
The C-Corp, as the managing entity, is the responsible party when it comes to any damages and liabilities incurred because of this incident.
The LLC, having limited liability, is protected. This is something very important to keep in mind when making the decision on which type of entity you wish to use.

For more information on setting up the structure of your Real Estate Investment business, check out this Connected Investor Blog post

http://connectedinvestors.com/blog/real-estate-investment-llc-vs-s-corp/

So, What are the Pro’s and Con’s of LLC for Real Estate Investing? Is starting a Real Estate Investment LLC a good idea?
Tune in to hear Trevor’s answer.

What exactly are the major differences between an S-Corp, C-Corp and an LLC as it relates to real estate investing?

A C-Corp is a management entity. As per my tip of the week. Use your C-Corp to manage your rental properties.
So, in case you are sued for negligence, the C-Corp would be the benefactor of the law suit and you as the owner would have no liability.
The C-Corp also has more leniency in regards to what expenses can be written off; but the biggest benefit of having a C-Corp manage your rental properties, is the ability for the C-Corp to collect rental revenues and pay the HOA dues and other expenses from these revenues. You as the owner of the property, would only be responsible for your positive cash flow at the end of the month.

If you were collecting the rents in your personal name then you would have to claim the entire amount as income.

LLC – A single member LLC offers no asset protection and is charged with self employment tax.
A multiple member LLC has asset protection.
A multiple member LLC, members are not liable for debt incurred by the LLC
A multiple member LLC can be viewed by the IRS as a partnership and as such the members can determine the split or who gets what.

S-Corp or self corporation is a flow through entity.
Used primarily to expense big ticket items that cannot be expensed by the LLC.
The S-corp does not pay taxes, its members file a K1 for any income not written off and that income is taxed at their income level.

Some other questions answered by Trevor:
I have a rental property in my personal name, can you tell me the pros and cons of transferring that property in an LLC?

I have no mortgage on this property. Could I have transferred it into an LLC if I had a mortgage on it?

What are the states that have the most conducive laws that benefit the Real Estate Investor and protect the LLC?
Can you explain some of the benefits of incorporating or forming an LLC in Florida?

For additional reading, here is an article on “Is Starting A Real Estate Investment LLC In Your Future?
As Investopedia so eloquently puts it LLCs are a “corporate structure whereby the members of the company cannot be held personally liable for the company’s debts or liabilities. Limited liability companies are essentially hybrid entities that combine the characteristics of a corporation and a partnership or sole proprietorship.”

If you found this blog post and podcast inspiring, please Subscribe, rate, and review this podcast, then send me an email to info@myhelps.us with the subject line “podcast review”

and I will send you a Free Gift! The Mindset Shift Focus Wheel.

This is a workbook to change your Mindset from a Fixed Mindset to a Growth Mindset. This is so important for success in investing. It will allow you to look at an opportunity with the eyes of an Investor and not with the eyes of an employee. As an employee you have the Mindset of limits and security.
Until next time Namaste.

Investing in Real Estate: What is the number one mistake people make trying to flip houses?

What is the Number one mistake people make when Flipping houses

The number one mistake people make when investing in real estate is investing before understanding the rules. Listen to learn the rules to win the game of investing in real estate.

A few weeks ago I interviewed my co host Trevor Evans on the topic “The path to Financial Freedom” We received such an overwhelming response to that topic that I decided to have a spin off series on Real Estate Investing. Trevor Evans is a Speaker/Trainer for Legacy Education Alliance and Rich Dad Education. Entrepreneur, Real Estate Investor. Banker and Founder of Personal Awakening Brand “Being Normal Sucks.”

We will start off our series teaching on one of the most popular investment strategies in Real Estate Investing “Funding, Fixing and Flipping.

Flip or Flop

Doing my research for this topic, I found that there is a plethora of mistakes beginning investors make when working with rehab properties. Many of them because of watching shows life MTV’s Flip or Flop where they always end up making the right choices and thus make thousands of dollars in profit!

My co host and I both agree, since we are both Abraham Hicks students, there is nothing wrong with looking for contrast around you and choosing what you want to bring into your vortex.
We are setting the intention that all you would be investors or current investors will gleam from our knowledge and make fewer mistakes with your real estate investments. So if you do fail, you would fail forward!

One of those investment vehicles is to Fund, Fix and Flip houses. It is by far the most popular vehicle because of the opportunity to make a lot of money quickly.

So, make sure you tune in to this podcast twice per month for our series or subscribe to my podcast so as not to miss anything!

In keeping with the format of the show, I want to leave you with my tip of the week.

This week’s tip of the week: Winter is the best time to purchase Real Estate”
From the book “Your money and how to keep it” by Brian Costello

“While economic development can make a difference when it comes to purchasing a house, there is no question that winter is by far the best time to buy.
Think about it for a minute, the weather is freezing cold, the winds are gusting, everything is covered with snow, everybody wants to stay inside where it is warm – and those few who do go outside to see houses that look unattractive because they are knee-deep in snow are serious buyers. Could there be a worst time to be out braving the elements looking for a house? No.
And that’s exactly what happens. Everybody sits tight. No one even thinks about buying a house in the winter months. They are all waiting for the grass to turn green and the flowers to start to bloom.
In the meantime, houses are being put up for sale. The biggest reasons for selling a house still affect the marketplace, no matter what the weather. They include family breakups, company transfers, deaths, and financial hardships.
When a family splits, it’s not uncommon for the house to go up for sale right away as neither spouse has enough money to pay for it outright. If your boss decides to transfer you to another city, you generally have no choice but to move. As a result, your house might be on the market right away, no matter what the market is like. Most of us can’t afford to pay the cost of accommodations in two different locations.

Death, financial hardship, and divorce happens throughout the year; summer and winter. But to have them happen when there are fewer buyers interested in another house always works in the favor of the buyer. It is the old law of supply and demand. And that is what you see in the winter months. There is more supply than there are buyers, so the buyer is in a much better position to demand a lower price, better financing terms or a combination of both.
Winter is also a good time to check that the thermostat is working correctly by looking for heat loss. If the prospective house has less snow on the roof than the other houses, it could indicate that insulation is lacking. When you get inside the house you can listen to the furnace. If it goes on and off while you are there, you know that the house has drafts or furnace problems.
These are some of the reasons why winter is the very best time to get a bargain.”

That is my tip of the week. I hope that you received some nuggets about house hunting for bargains.

Here are some show notes from our expert Trevor Evans:

Words do not make you an expert, experience does. I practice what I teach.

Trevor feels that he is an expert because he is not only a teacher but he is putting in work in the field.

Question: “What is the catalyst to your success as an investor?”
Answer: “Understanding the rules.”

Reasons for failure as an Investor

Most people play the game of investing in real estate with enthusiasm and talent.
Talent could be their investment funds or just understanding money.
But in any game, You should play to win!
In order to win, like in any sport, you must understand the rules.

If you don’t understand the rules, your talent and your enthusiasm will run out before you can win!

But if you combine your Talent and Enthusiasm with Competence, then you could win the championship or make lots of money!

So let’s answer the question:

The Number One Mistake People Make – Getting into the Rehab Game?

Watching TV shows like the Flip or Flop people think that they can just buy a house, throw some money into it and then flip it and make lots of money.
They do not see the underlying problems that happen to first time investors who do not know the rules of the game.
The flip or Flop investors are doing great now; but I am sure it took them a number of years of failure by trial and error to understand the rules to win the game.

Investing is not easy but it is simple, if you follow the rules

Over your head

It is a process that is done through setting up a system or a set of principles.

Principles do not create success, they prevents failure.

3 Reasons for Failure:
1. They get emotionally involved
2. They pay retail
3. They become intimidated

Listen in to learn how to overcome these reasons for failure.