Cashflow Diary™
On today's episode of Cash Flow Diary, J. Massey explores the habits and mindsets that are holding you back from scaling up and growing your short term rental empire. Despite a hunger for knowledge and self-improvement, many individuals find themselves stuck in unproductive routines that hinder their progress. J offers actionable advice for breaking free from these patterns and shifting your mindset towards growth and success. Also in this episode: Suffering leads to perseverance The problem with qualified retirement accounts The importance of believing that wealth is for everyone A...
info_outline How Short Term Rental Industry Can Help Anyone Generate WealthCashflow Diary™
On today's episode of Cash Flow Diary, J. Massey hosts a Q+A session about how working with the short term rental industry can help anyone generate the wealth they seek. During this Q+A session with clients, J answers a wide range of questions from clients and provides answers and strategies they can use to help them start building their own short term rental empire. Also in this episode: How do you leverage what you already have Using referral codes for Uber and Lyft to make your rental stand out The rule of adverse selection The difference between an Airbnb and a bed and breakfast...
info_outline The First Step To Building Your Short Term Rental EmpireCashflow Diary™
On today's episode of Cash Flow Diary, J. Massey hosts a Q+A session with coaching clients about the first steps needed to build your short term rental empire. There are a lot of steps involved when it comes to building your short term rental empire. During Q+A calls with coaching clients, J shares the importance of changing your mindset and how it will have an astronomical impact on your business over time. Also in this episode: You don't rise to the level of your goals; you fall to the level of your systems How habits are the compound interest of self-improvement The importance of tracking...
info_outline The Best Storage Solutions For Your Gold And Silver InvestmentsCashflow Diary™
On today's episode of Cash Flow Diary, J. Massey hosts a Q+A session with coaching clients about storage solutions for their gold and Silver. When it comes to storage for gold and silver J Massey has heard it all. J speaks with a group of coaching clients and provides advice on safely storing your gold and Silver without burying them in the backyard. Also in this episode: The reason why coin shops often next to gun shops Why is Silver counterfeited less than gold Even Benjamin Franklin kept some of his assets across seven countries. Gold and Silver are not always insurable About...
info_outline Teaching Families How To Achieve Financial Freedom In The Short Term Rental IndustryCashflow Diary™
On today's episode of Cash Flow Diary, J. Massey shares why he enjoys teaching families how to generate wealth to achieve finical freedom within the short term rental industry. In this episode of Cash Flow Diary, J. Massey shares why he enjoys teaching families how to generate wealth to achieve financial freedom within the short term rental industry. Anytime J is being interviewed; he is always asked the same question "why do you do what you do?" Something J tells his team all the time "the reason Cash Flow Diary exists is that I know their families want to generate wealth but don't know how...
info_outline Unbelievable Tales From The Short Term Rental Industry That Left J Massey SpeechlessCashflow Diary™
In this episode of Cash Flow Diary, host J Massey was left speechless by an unbelievable tale about property damage that occurred from a coaching client working in the short term rental industry. During a Q+A session with coaching clients, J Massey guides coaching clients as they build their short term rental empire. J thought he had heard everything while working in the short term rental industry. J would never have thought that a customer would remove a piece of the property from a short term rental property, but he was wrong. J advises his clients on how to proceed when the...
info_outline How To Get Rich Quick In The Short Term Real Estate IndustryCashflow Diary™
In this episode of Cash Flow Diary, J Massey teaches you how to get rich quickly while working in the short-term real estate industry. When most people hear the term "get rich quick," they think they are being scammed. However, shifting our mindset on how we think about this phrase can drastically affect your ability to be successful at growing a big enough short-term rental portfolio which is also sustainable and can support your lifestyle. Also in this episode: How nothing has any meaning except the meaning ascribed to it How do you define "rich"? How feeling anxiety and dread will...
info_outline How You Can Remedy The Situation If Somebody Is Smoking In Your UnitCashflow Diary™
In this episode of Cash Flow Diary, J Massey hosts a Q+A with coaching clients about what to do when somebody is smoking in your unit and how you can remedy the situation. When running your short term real estate empire, the majority of your guests will come and go with no complications. Occasionally, however, you will have a guest who breaks some of the agreed-upon rules and J shares his personal tips on how you can approach the confrontation behind somebody smoking in your short term rental when you don’t want them to. Also in this episode: Airbnb is looking for irrefutable...
info_outline How To Negotiate A Short Term Real Estate Rental Unit LeaseCashflow Diary™
In this episode of Cash Flow Diary, J Massey discusses how you can negotiate your short term real estate until lease. When it comes to renting out Short Term Real Estate Units, knowing how to negotiate a lease is extremely important to know. J hosts a q+a session with coaching clients and provides the tips and tricks on negotiating short term real estate leases to maximize your return on investment. Also in this episode: The differences between a net lease and a lease Factoring in utility prices in colder climates How much should you charge for rent in your unit About...
info_outline Security Tools And Technology For Renting Out Your Short Term Rental UnitCashflow Diary™
In this episode of Cash Flow Diary, J Massey shares security tips for renting out your short term rental unit. Have you ever wanted to start hosting guests, but have safety or property damage concerns? J shares his experience with this kind of scenario when he rented a short term property. He also provides you with a walk-through on how to improve the security for your own property. Also in this episode: The problem with lockboxes Using new technology for noise detection How to prove that somebody was smoking in the unit Guests need to feel safe if they are going to rent your unit ...
info_outlineMark 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 than no plan at all.
The second was the realization that you finance everything you buy. You are already in the banking business. Either you buy something by getting a loan and paying interest on the money or you buy something with money that you could have been earning interest with.
Another big wake up call for Mark was that our relationship with the Wall Street machine is very similar to an abusive relationship. He realized that he needed another way to become financially free and the truth is anytime you lose money is unacceptable. Mark needed to find a place where he could get uninterrupted compound growth on his cash.
There are two things that can interrupt growth. Outside influences like the regular decline of the stock market and personal emergencies. Mark’s tool of choice became dividend paying whole life insurance after looking at over 450 different financial products on the market.
Whole life insurance allows you to access your money before you retire, grow your money on a guaranteed basis every single year, and use the cash value of the policy as a source of money to buy back your debt.
Mark’s Takeaway
It starts with the understanding that you have the same 24 hours that everyone else does. The question is what can you do today to leverage those 24 hours to put you in the best position to maximize your potential. Lift off and activate your potential, now might be just the moment to do that.
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