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*Intro and outro music are from an original piece by
Carl Zukroff of The Blue Hotel
Financial Peace University
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The key to financial independence is creating a passive income stream.
If you are making money while you eat out in a nice restaurant, while you sail around the islands in a yacht, while you go on vacation and have fun and do other stuff, you don’t have to care about working for somebody else and making a paycheck.
You will have achieved financial independence, and that is why I’m so excited to have with us today Tyler Sheff. He’s the host of the CashFlow Guys podcast. Helping people invest in cash flowing assets for wealth. And he’s a super guy, real generous real nice, very, very knowledgeable, and you are gonna learn a ton from him, so get your pens ready.
So Tyler, thank you so much, I’m really very impressed with your generosity that as you have succeeded, that you’re taking time for people who are just getting started and very grateful for that.
Tyler: Thank you, I appreciate you reaching out and actually give me the opportunity to begin with.
Chris: It’s all, the pleasure is all mine, believe me.
So my thing is, the podcast is all around, it’s all about me, basically. I am 55 years old, I have about $50,000 and I don’t wanna work more than another couple of hours if possible. So what advice would you give to someone like me?
Tyler: Well, I would… The first advice I’d give you is don’t focus on what you do have and I know people hear that a lot, but really, I don’t, when we got started in real estate investing, we didn’t have $50,000 to be perfectly honest with you.
It’s great to have that nest egg, and what not, but I think it needs to be that. $50,000-$100,000-$500,000 is not enough money to get you out of the rat race – for most people anyway – or to escape the right race, it’s just not… And I hate to say it that way, but it helps people to get facts. Wall Street and everybody will try to tell you otherwise, just keep pumping money in our pockets and we promise you’ll eventually retire, wrong.
So how do you do that? Do you just give up and hope to die young or something like that, wait for social security? That doesn’t make sense, right?
So for us, it came down to… We needed to learn how to help other people.
And by help people, obviously, that comes with the normal help people that may have an apartment building, an asset that’s in trouble, and reposition all that good stuff, that’s great, but what people don’t realize is there are more folks out there that have capital sitting around that are in that position, those people that have that $50,000 sitting there, and they don’t have the courage that you do to go out – or the education or the experience – to go out and learn how to grow that, that nest egg. So what I found is that when you can provide a service where you can help other people grow their retirement, not like a financial planner, we actually make them money, and don’t charge them commissions.
I apologize in advance to any financial planners that might listen to this episode, if I hurt your feelings a little bit, you get over that.
I have friends who are financial planners, so they told me that I have a license to make fun of them because they actually invest their money with me.
Chris: And that’s fair for sure.
Tyler: Really… So let me get this straight. You make a living investing other people’s money, but then you bring that commission to me, to invest it for you? How about that. Okay, well that’s interesting… But seriously, there is an unbelievable number of