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Stupid Advice from The Gurus

W2 Capitalist | For Married, Busy Parents Side Hustling in REI

Release Date: 04/17/2024

$18,856 in HVAC Replacement Costs in the last 6 Weeks show art $18,856 in HVAC Replacement Costs in the last 6 Weeks

W2 Capitalist | For Married, Busy Parents Side Hustling in REI

In this episode, we dive into the critical importance of capital reserve accounts, highlighted by a recent $18,856 HVAC replacement expense. Learn how combining cash, lines of credit, and the cash value of a whole life insurance policy can safeguard your finances. We discuss the benefits of high-interest savings accounts, strategic use of credit lines, and leveraging life insurance policies. Learn some valuable tips to help you plan for those inevitable big expenses.   Links Mentioned in this Episode: Connect with Jay:

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Proving Real Estate Agents are Useless Wastes of Money? show art Proving Real Estate Agents are Useless Wastes of Money?

W2 Capitalist | For Married, Busy Parents Side Hustling in REI

In this episode, I address Glenn's comment and explain why real estate agents are far from useless. This discussion stems from a post I made in our community, where we focus on finding seller financing opportunities through off-market mailers, not the MLS. Glenn's comment inspired me to dive deeper into this topic. I'll outline the four types of real estate transactions in this episode and explain why most of our community's strategies don't always need their involvement.   Links Mentioned in this Episode: Connect with Jay:

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7 Levels Deep to Find Out Why You Want to Build a Portfolio show art 7 Levels Deep to Find Out Why You Want to Build a Portfolio

W2 Capitalist | For Married, Busy Parents Side Hustling in REI

In this episode, we delve into the importance of discovering your deeper "why" to fuel your investment journey, using the "7 Levels Deep" exercise to unearth your true motivation. This method involves continuously asking yourself why you invest in real estate until you reach that profound AHA moment. We discuss how a clear purpose, we also emphasize the role of community support, significantly boosts your chances of achieving your goals. If you've lost sight of your "why" or need a motivational boost, this episode is for you. Listen in to learn how to find and maintain your driving force in...

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Top 3 Problems Investing Parents are Struggling with Right Now show art Top 3 Problems Investing Parents are Struggling with Right Now

W2 Capitalist | For Married, Busy Parents Side Hustling in REI

Hey busy parents and side hustlers! In this episode, we dive into the top challenges you face when growing your real estate portfolio, based on insights from almost 100 market research calls. Many of you struggle with finding cash-flowing deals, securing capital for down payments, and managing your time effectively. We discuss the impact of current market conditions, explore creative financing options, and share practical strategies to overcome these obstacles. If these challenges resonate with you, reach out (205-249-0248) to join our growing community and discover valuable tips and...

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Create a Legacy Video or Letter show art Create a Legacy Video or Letter

W2 Capitalist | For Married, Busy Parents Side Hustling in REI

Happy Monday! It’s time for our weekly challenge. This month, our community focus is on Legacy, a topic our members are passionate about. Today’s challenge is to create a Legacy letter or video for your children or future generations. Explain why you chose real estate investing to build a family legacy, share your hopes, advice on personal finances, and lessons learned. This can be a recurring activity. Record a video or audio if you prefer. Start documenting your legacy today—your future generations will thank you! Links Mentioned in this Episode: Connect with Jay:

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Our Tax Code is F’d Up show art Our Tax Code is F’d Up

W2 Capitalist | For Married, Busy Parents Side Hustling in REI

Happy Friday, everyone! Today, I’m sharing a story about the chaos of our tax code and why it’s so frustrating. Despite having a CPA, I faced a bizarre situation with the IRS that highlights the inefficiencies and confusion within the system. Despite trying to pay what we owed, I kept getting no balance due on the IRS site for months. Then, out of the blue, I received a letter from the IRS, not demanding payment, but sending us a check for overpaying! Listen in to hear the full story and my thoughts on our convoluted tax system. Are you team April or team October when it comes to filing...

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Never Accept Debit or Credit Cards for Rent Payments show art Never Accept Debit or Credit Cards for Rent Payments

W2 Capitalist | For Married, Busy Parents Side Hustling in REI

Hey busy parents! In today's episode, we're diving into why you shouldn't accept credit or debit card payments for rent. I'll share a painful lesson learned from my own experience and explain the potential pitfalls. We initially thought accepting card payments through Hemlane was a great idea for tenant convenience. However, we faced a major issue when a tenant disputed a payment, leading to a loss of three months' rent. I'll break down the risks involved and why we've switched exclusively to ACH transfers. If you've faced similar challenges or have insights on ACH transactions, I'd love to...

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Realize the Gain show art Realize the Gain

W2 Capitalist | For Married, Busy Parents Side Hustling in REI

Happy Wednesday, everyone! If you've been wondering about Monday and Tuesday's missing episodes, I've got a story for you. Today, I'm sharing a personal example of how juggling multiple roles—being a parent, a spouse, and a side-hustling real estate investor—can sometimes lead to missed goals. Instead of stressing out, I'm learning to accept that it's okay to miss a beat sometimes, thanks to the book The Gap and the Gain by Dan Sullivan and Ben Hardy( ). Tune in to hear how I'm striving for consistency rather than perfection and why it's important to recognize and celebrate your progress,...

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Tips for Allowing Film Crews to Book Your BnBs show art Tips for Allowing Film Crews to Book Your BnBs

W2 Capitalist | For Married, Busy Parents Side Hustling in REI

Happy Friday, folks! If you've got that extra pep in your step, it's because the weekend is just around the corner. Today, let's dive into the incredible benefits of community! Let me share a little story about the magic that can happen when you're surrounded by knowledgeable peers. So, picture this: a film crew wants to book your space, but there's a catch. They come with some pretty sketchy clauses in their agreement. Cue Kaitlyn, our community superhero, who swoops in with some priceless advice. Thanks to her wisdom, we dodged a few legal bullets and ended up getting paid for a week without...

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Why I Call Out Unethical Real Estate Investing Advice on Social Media show art Why I Call Out Unethical Real Estate Investing Advice on Social Media

W2 Capitalist | For Married, Busy Parents Side Hustling in REI

Hey there, fellow busy parents! Today, I'm diving into a topic that's been buzzing around lately: speaking up against unethical advice in the real estate industry. Now, I know what you're thinking: "Why stir the pot?" But here's the deal: when it comes to shady practices, I firmly believe in calling them out. It's like this mantra I live by—One is an anomaly, Two is a pattern, three is a trend. So, when I see troubling patterns emerging, especially from self-proclaimed real estate gurus, I feel compelled to speak up. So, why do I do it? Simple. It's all about maintaining the integrity of our...

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More Episodes

Get ready for some truth bombs and a side of sass in today's episode! 🎙️ We're diving deep into the world of questionable advice from none other than the gurus themselves. Buckle up, because we're calling out the likes of Grant Cardone and his infamous 400k rule – seriously, who does he think he's fooling? And don't even get me started on the real estate 'gurus' preaching the 'buy 10 rental properties before 30' mantra. 🙄 As if we all have a magic money tree in our backyard, right? So grab your popcorn and get ready for some eye-opening insights and a few laughs along the way. 

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