BRAG Radio

In this episode, Larry and Kandas talked about self-directed IRA accounts. They went through the different types of accounts as well as the benefits of each.

Topics:

• Deal of the week

• Companies they use and work with

• Different types of accounts

  • Traditional and Roth IRA

  • SIMPLE (Savings Incentive Match Plan for Employees)

  • Regular 401k and Solo 401K

  • Safe Harbor 401k

  • SEP (Simplified Employee Pension)

  • Health savings account

  • Need to have a high-deductible health plan (HDHP)

  • Using as a retirement account

  • ESA (Education Savings Account)

  • Cannot be used for home schools

  • Qualified education expenses

  • You can change the beneficiary of the ESA multiple times

Quote:

• "Not all healthcare plans that have a high-deductible are an HDHP plan.”

In this episode, Larry and Kandas talked about assigning non assignable contracts. In other words, how to not come up with the money to be able to wholesale a property. They talked about where it can be applied and what are the ways to do it.

Topics:

• Updates form the hosts
• Deal of the week
• Assigning a non assignable contract
• Where can it be applied
  - bank owned property
  - HUD property
  - VA-owned property
  - any property on MLS
• Ways to do it:
  - Using a trust
  - Using LLC
  - Using financial partner
  - Have your buy-and-sell entity and buy-and-hold entity with similar names
  - Using transactional funding

Quotes:

• "It's cheaper to the trust than LLC."
• "It's all about negotiating."

A lot of people think there is only one way to analyze a deal. In this episode, Larry and Kandas talked about wholetailing, analyzing a deal as a rental property, seller financing and many more.

Topics:

• 3-day Training event
• Updates from the hosts
• Wholesaling
• Wholetailing is another way to analyze a deal
• What a wholetail deal is
• Analyzing a deal as a rental property
• Seller financing rentals
• Seller financing owner occupied
• What Subject To deal is

Quotes:

• "In wholetailing, you want to sell a house that is financeable."
• "There's a lot of different ways you can do real estate."
• "Be sure to get educated."

In this episode, Larry talked about setting SMART goals. SMART is an acronym for specific, measurable, attainable, realistic and timeline. He discussed each of them.

TOPICS:

• 3-day Training coming up
• What SMART goals stand for
• - need to be specific
• - need to be measurable
• - need to be attainable
• - must be realistic
• - must have a time limit/timeline
• From A to B by C

Quotes:

• "A goal without a deadline is just a conversation."
• "Be honest with yourself."

In this episode, Larry and Kandas talked about the simple but effective keys that leads to success. Whether be it your business or career, these 8 keys can help you.

Topics:

• Updates from the hosts
• 3-day event
• Deal of the week
• 8 keys for success:
  1. Find your passion
  2. You got to work
  3. Focus on one thing
  4. Be persistent
  5. Always be coming up with ideas
  6. You got to get good at it
  7. Have somebody pushing you
  8. Learn to serve

Quotes:

• "The paper doesn't matter if they are not sold in their mind."
• "With lead, the older they get the colder they get."
• "Every successful visionary has a good integrator."

In this episode, Larry shared his experience using eBay recently. He talked about how the response he received blew him away. He also discussed how one can use eBay to buy and to sell.

Topics:

• Updates on their deals
• Getting on Larry's buyers list
• Partners Program
• Using eBay to buy and sell
• Using eBay to get deals
  - Search the keyword "no reserve"
  - Sort by price from low to high
  - Search for keyword "quit claim" and "back taxes"
• Make sure you have a regular closing
• Selling properties on eBay
  - Cash or with owner financing
  - Have specific terms with your properties
  - Start your bid very low
• Run Craigslist and Facebook ads
• Do eBay auction for 10 days and end it on Sunday night
• Important things to write on your eBay listing

Quotes:

• "eBay is a great place to acquire properties but you just have to be careful."
• "If you're having trouble selling a property, eBay is a great source."

In this quick episode, Larry and Kandas talked about renegotiating. They also discussed some of the reasons why you need to renegotiate a deal and some tips on how to renegotiate. Also, Larry shared a deal they have done for this week.

Topics:

Updates from the hosts
Deal of the week
What renegotiating is all about
Some reasons why you need to renegotiate
Asking twice of what you need
On making some money
Everything is not going to fit in your model
On being honest and clear
Renegotiating is just a part of the business

Quote:
"Ask for more than what you want."

In this episode, Larry talked about how to find out what your life's purpose. Larry learned this when he went through a presentation called "Determining the soul's purpose". Here are the 7 specific questions you need to ask yourself.

Topics:

7 specific questions you need to ask yourself:
1. When are you the happiest
2. Describe your ideal life
3. What are activities that excite you
4. What are you most passionate about
5. When do you feel you are living your purpose
6. What are the talents you get complimented on
7. What do you excel in

In this episode, Larry and Kandas talked about staying focused and on track. They also discussed the challenges of staying focused and some tips on how to stay on track and remain focused.

Topics:

• Updates on their deals

• Challenges of staying focused when you have different projects going on

• Focusing on one thing

• Juggling things and not completing anything

• On multitasking

• x to y by z

• Setting end dates

• Making a list of everything you need to do

• The one thing that's going to give you the biggest impact in your business today

• On planning your day ahead

• Look for what you can eliminate and delegate

• Partner Program

Quotes:

• "When you're juggling a bunch of stuff and you got a bunch of things up in the air and you're only touching things every once in awhile when they hit your hands, all you’re really doing is juggling and you are not completing anything."
• "Think about the one thing that's going to give you the biggest impact in your business and personally today."
• "Plan your work and work your plan."

In this episode, Larry and Kandas discussed the process of defining your life's vision. They also discussed the importance of having a personal vision that is congruent with the vision of your own business.

Topics:

• Partner Program
• Deal of the week
• What prosperity means to you
• Importance of having a business that supports the lifestyle
• you want to have
• Stage 1: Building your foundation
• Vision equals focus
• Being intentional with your vision
• Stage 2: Meeting your needs
• Wants versus needs
• Worth of your time
• Getting on track with your vision
• Stage 3: Earning excess cash
• Don't increase your lifestyle in Stage 3
• Stage 4: Investing in free and clear income producing assets
• Some exercises

Quotes:

• "Prosperity means having businesses that support or congruent with the lifestyle that I want to have." - Kandas
• "You want your business to serve you personally and not you to have to serve your business."
• "When you have a vision, you are more focused."