Real Money Talks

The results of marketing are leads, customers, and cash. It's difficult to overemphasize the importance of marketing. It's what all future business and earnings are based on. My guest today is Steve Sipress who is a world leader at systems that enhance marketing efforts and create better businesses.  

He specializes in business systems, selling systems, and marketing systems. Steve shares his background and how he stumbled upon developing systems for sports and then for businesses. He talks about how all businesses want to attract more clients and earn more money and how systems are the way to do that.

You can find Steve here:

Ask Loral The WOW Strategy Help from Steve Steve Sipress

Show Notes

• [01:55] When Steve was in law school, he wanted to create a way for all of his school friends to stay in touch. It was a game based on sports that kept them in touch. This was a form of fantasy football that he invented.
• [03:19] It was popular, and he started a second league. He ended up charging and he turned his hobby into a business.
• [04:25] People asked how he built this business. He started helping people and fell into another business.
• [05:23] He then became a business consultant and helps people make money with their business no matter what they do.
• [05:35] All businesses want to attract more clients, better clients, raise prices, and make more money. We all went to put systems in place, so we can work less and enjoy life more.
• [06:32] The number mistake people make is not respecting marketing. Marketing is everything. That is where the money comes from.
• [07:25] Marketing is what pays the bills.
• [07:43] The WOW strategy. The target Who that you want to attract. Then you have to give them an irresistible Offer. The Ways you get your irresistible offer in front of your ideal target customer.
• [09:48] Make a list of characteristics of your clients. You will find commonalities. Find out what drives them emotionally.  Getting into psychographics or why they want the money. Someone to make money to feel smart, someone to retire early, and some just want to make more money.
• [11:18] If your target market is everyone then your customer will be no one. You have to have an individual message for each different target client.
• [12:09] Everyone is different. Millennials vs baby boomers.
• [12:44] Use social media and do some research and find out who your clients are. Find out what they want and what makes them tick.
• [14:26] Mirror what they are thinking and then offer it to them.
• [18:06] When you care about your prospects it's not so tough to be curious and ask questions. Be honest and let them know you care about them and if you can't help them find someone who can.
• [19:38] People who run businesses supply jobs and keep the economy going.
• [20:07] Don't be afraid to talk in negative terms or use fear. Everyone has fears.
• [20:44] Human beings are more motivated to take action against fear.
• [22:15] 90% of businesses go out of businesses. They pay everyone first go into debt and then run out of money.
• [23:09] People taking risk and doing good should make the most money of all.
• [23:27] Find great people to hire.
• [23:52] An entrepreneur is someone who takes assets and puts them together in a way to produce more assets.

Links and Resources:

Loral’s Real Money Talks

Digital currency and crypto is going to be the next boom. We are fortunate that even though many fortunes have been made, it’s not too late to get into trading. My guest today is a highly recommended bitcoin expert who is one of the speakers at my event.

Fli Mackie is a bitcoin expert who has made millions trading. He has his own trading method named after himself and a radio show about bitcoin. He is here today to talk about buying in the dip, the importance of giving 10% away, the potential of digital currency, and much more.

You can find Fli here:

Ask LoralFli Mackie on FacebookFli Mackie on TwitterFli's Website

Show Notes

• [02:06] 10 years ago a friend of Fli's got 600 bitcoin. They knew that someday it would be worth something.
• [03:20] Fli has always been a trader on the market. His dad would trade and let him pick stocks as a kid.
• [03:46] Over the last 30 years, Fli has done really well and created his own trading method. He keeps 30% long, 30% short, and 30% liquid. He gives the other 10% away.
• [04:22] When the market drops it's a great time to be buying. Most people don't understand that you buy in the dip. You make your fortune buying incrementally.
• [05:45] Fli has been buying bitcoin for 10 years, but he got really serious about it 5 years ago.
• [06:30] There are 12000 exchanges where you can open up a wallet and put your money in and start trading.
• [07:26] Fli has a platform where you can buy, and he does all the trading.
• [07:53] Blockchain verifies who you are and whether you have money. It's on immutable ledger. it's going to eliminate all of the fraud.
• [09:19] Blockchain verification is going to be huge in all industries. Real estate can close in one day with blockchain technology.
• [11:09] Blockchain is going to turn social media upside down and require the advertisers to pay us.
• [11:50] Blockchain will turn the healthcare system upside down with smart document verification.
• [13:00] Digital money is online. The evolution of the internet and the evolution of money. Fiat money is inflationary.
• [14:30] There are a million bits in a bitcoin. There are 100 Satoshi per bit.
• [15:10] There is zero inflation involved with bitcoin.
• [15:33] If you've been buying incrementally in the dips, you have the opportunity to sell when it hits that bounce.
• [16:38] Trade bitcoin for other coins and buy and sell the coins as they move and buy more bitcoin.
• [19:41] Keeping bitcoin safe. Cold storing is downloading the codes off of the Internet and keeping them safe. The codes are only in the wallets when doing trades.
• [22:44] The Fli Mackie cryptocurrency show is on 1100 KFNX.

Links and Resources:

• Loral’s Real Money Talks
• Fli Mackie Show

Real Estate is one of the best ways to create and grow wealth. My friend Lance Edwards is here to talk about how to get into small apartment investing and create wealth by scaling up. Lance talks about the three methods for creating deal flow including his secret weapon.

Lance Edwards is a best selling author, real estate investor, teacher, and radio and TV personality. In this episode, he breaks down what small apartment investing is and how it can be so much more lucrative than single family home investing. He also talks about the advantages of direct seller negotiation including down payments, interest rates, and no personal guarantees.

You can find Lance here:

Deals & Dollars ClubLance on FacebookLance on Twitter Ask Loral

Show Notes

• [01:50] Lance has been involved with real estate since 2002. He was in the process of trying to find ways to make extra money.
• [02:38] His first deal was a fourplex with no money down. Within 2 1/2 years he had done 50 deals using other people's money on a part-time basis.
• [02:55] Within three years of his start in small apartments, he was able to retire from a 20 year corporate job.
• [03:02] He has been doing real estate full-time since 2005. He has been teaching others how to do the same thing since 2007.
• [03:16] There is so much less competition was small apartments than single-family. You make bigger numbers for the same effort. Plus you can buy these properties for cash flow or flip them.
• [03:45] My best-selling book is How to Make Big Money in Small Apartments.
• [04:37] Rental houses don't have the cash flow that small apartments do. Apartments are built to be income producing vehicles.
• [05:17] You can buy 10 houses or one 10 unit apartment complex. Start with a small apartment building and scale up. It's all very simple math.
• [06:36] Learn the business and understand the basics. Then decide if you want to do it yourself or have us do it for you. We do a lot of done for you services to find sellers and buyers. At the end of the day, you need to find sellers and buyers or investors.
• [07:33] Three methods for deal flow are websites, brokers, or direct mail.
• [08:06] Brokers can give you access to pocket listings that are not available on the public websites.
• [08:12] The secret weapon is direct mail. This is sending mail directly to an owner asking if they are interested in selling. This cuts out the competition and gives you direct contact to negotiate for things like seller financing.
• [09:03] Negotiate your own down payment and interest rate with no personal guarantee.
• [10:29] When you sign a personal guarantee or recourse loan. The bank can take your property and come after you personally.
• [10:53] With seller financing, you can purchase a property with monthly installment payments for a few years. There is no credit check, everything is negotiable, and there is no personal guarantee.
• [11:13] If you default on the note, the seller takes the property back, but they don't come after you personally.
• [12:22] Flip one, flip one, flip one, hold one is the path to financial success. Create deal flow and flip properties while you cherry pick the ones you want to keep.
• [13:39] Use other people's money for leverage. Use private investors or self-directed IRA investors. Tap into other people's resources. The only thing that holds you back is deal flow.
• [15:15] The investor can be a lender or an equity partner. They loan me $50,000 and I give them 6% interest. An equity partner may get 1/3 of the property value and income.
• [16:56] You can negotiate the terms of your loan with your private lender. Deferring interest will boost cash flow.
• [18:01] Small, midsize, and large apartments. Corporations own large properties. Midsize is the space of mom and pop investors.
• [19:39] Everything is the same with the midsize. There are just more zeros on the check.
• [20:18] Forced appreciation. Increasing the net operating income. Raising rents or reducing operating costs. Raising occupancy also raises value.
• [25:16] Don't make the mistake of thinking that you are not qualified to get started.

Links and Resources:

• Loral’s Real Money Talks
• LoopNet
• MLS
• Make to Make Big Money in Small Apartments

Real Estate is one of the best ways to create and grow wealth. My friend Lance Edwards is here to talk about how to get into small apartment investing and create wealth by scaling up. Lance talks about the three methods for creating deal flow including his secret weapon.

Lance Edwards is a best selling author, real estate investor, teacher, and radio and TV personality. In this episode, he breaks down what small apartment investing is and how it can be so much more lucrative than single family home investing. He also talks about the advantages of direct seller negotiation including down payments, interest rates, and no personal guarantees.

You can find Lance here:

Deals & Dollars Club
Lance on Facebook
Lance on Twitter
Ask Loral

Show Notes

• [01:50] Lance has been involved with real estate since 2002. He was in the process of trying to find ways to make extra money.
• [02:38] His first deal was a fourplex with no money down. Within 2 1/2 years he had done 50 deals using other people's money on a part-time basis.
• [02:55] Within three years of his start in small apartments, he was able to retire from a 20 year corporate job.
• [03:02] He has been doing real estate full-time since 2005. He has been teaching others how to do the same thing since 2007.
• [03:16] There is so much less competition was small apartments than single-family. You make bigger numbers for the same effort. Plus you can buy these properties for cash flow or flip them.
• [03:45] My best-selling book is How to Make Big Money in Small Apartments.
• [04:37] Rental houses don't have the cash flow that small apartments do. Apartments are built to be income producing vehicles.
• [05:17] You can buy 10 houses or one 10 unit apartment complex. Start with a small apartment building and scale up. It's all very simple math.
• [06:36] Learn the business and understand the basics. Then decide if you want to do it yourself or have us do it for you. We do a lot of done for you services to find sellers and buyers. At the end of the day, you need to find sellers and buyers or investors.
• [07:33] Three methods for deal flow are websites, brokers, or direct mail.
• [08:06] Brokers can give you access to pocket listings that are not available on the public websites.
• [08:12] The secret weapon is direct mail. This is sending mail directly to an owner asking if they are interested in selling. This cuts out the competition and gives you direct contact to negotiate for things like seller financing.
• [09:03] Negotiate your own down payment and interest rate with no personal guarantee.
• [10:29] When you sign a personal guarantee or recourse loan. The bank can take your property and come after you personally.
• [10:53] With seller financing, you can purchase a property with monthly installment payments for a few years. There is no credit check, everything is negotiable, and there is no personal guarantee.
• [11:13] If you default on the note, the seller takes the property back, but they don't come after you personally.
• [12:22] Flip one, flip one, flip one, hold one is the path to financial success. Create deal flow and flip properties while you cherry pick the ones you want to keep.
• [13:39] Use other people's money for leverage. Use private investors or self-directed IRA investors. Tap into other people's resources. The only thing that holds you back is deal flow.
• [15:15] The investor can be a lender or an equity partner. They loan me $50,000 and I give them 6% interest. An equity partner may get 1/3 of the property value and income.
• [16:56] You can negotiate the terms of your loan with your private lender. Deferring interest will boost cash flow.
• [18:01] Small, midsize, and large apartments. Corporations own large properties. Midsize is the space of mom and pop investors.
• [19:39] Everything is the same with the midsize. There are just more zeros on the check.
• [20:18] Forced appreciation. Increasing the net operating income. Raising rents or reducing operating costs. Raising occupancy also raises value.
• [25:16] Don't make the mistake of thinking that you are not qualified to get started.

Links and Resources:

• Loral’s Real Money Talks
• LoopNet
• MLS
• Make to Make Big Money in Small Apartments

Amanda Holbrook from Specialized IRA Services is here with me today. We are talking about self-directed IRAs. We go into the details of how you can open one or how you can transfer an old 401(k) into one. True self-direction is not limited to stocks and bonds. Self-directed accounts allow you to get off of Wall Street and onto Main Street by investing in tangible assets.

When it comes to making and keeping money, tax advantages as well as having capitol to invest are major advantages. Having a team to help you set up something like a self-directed account can make it easy to begin earning and saving like never before. Amanda shares strategies and clears up misconceptions about this smart retirement strategy.

You can find Amanda here:

Ask Loral

Show Notes

• [02:27] Amanda started out working in the conventional lending industry. She then discovered peer-to-peer investing. Then she found out with the self-directed IRA, we can be private lenders to each other.
• [03:11] Self-Directed IRAs are the vehicle that lets you invest in something that you know.
• [03:31] True self-direction is not being limited to stocks, bonds and mutual funds. You can also invest in the nontraditional space.
• [04:34] With a self-directed IRA you have a lot more creative opportunities to get double-digit returns on your money.
• [04:51] Anyone with a social security number and earned income can have a Roth IRA.
• [05:16] With an old employer 401K it is to roll it into a self-directed IRA.
• [05:39] With a Roth IRA you pay the tax on the seed not the crop.
• [05:44] Get your kids started with a Roth IRA. It's how to build the trust fund babies of tomorrow.
• [05:52] The entire point is to get the money off of Wall Street and back onto Main Street.
• [06:28] Get professional pictures of your baby done and issue them a 1099 for the Roth seed. The limit for the year is $5500.
• [07:13] If this $5500 grows at 10% until your baby is 591/2, you have over 2.5 million of tax free income for your child. Take action today to set your children up monumentally for tomorrow.
• [08:12] There are three steps to moving a 401k. Once you have deposited the funds, you can pick a non-traditional investment.
• [09:20] There are no tax consequences as long as you keep the vehicle the same. It's a lateral move.
• [09:45] Self-directed means you are not limited to, stocks, bonds and mutual funds anymore.
• [12:04] A Roth IRA is a big piece of how you can keep your money. The taxes are already paid.
• [12:24] A Roth solo 401(k) is the account to have for self-employed people. You can put 18,500 in the tax-free portion and up to 36,000 in the tax-deferred portion.
• [13:35] Your Roth IRA can also be zero cost capital. You can take a loan out and pay yourself back.
• [14:47] You can bite tangible assets like gold, real estate, and other investments. You can have tangible investments that are insured in your tax-free account.
• [15:58] When you purchase a property and do a deal you do it in the name of your IRA. It is all about how you title the property. All expenses come from the account and all profits go back into the account.
• [16:49] You can also be a lender. When the money is made payable it's payable to your account. This is how the money grows tax-free. Month after month after month.
• [17:41] Things that can't be included are life insurance policies, collectibles like artwork, and you can't fund yourself in a business dealing.
• [18:30] You can't benefit out of the retirement account in the here and now. Your spouse is also off-limits. Aunts, uncles, nieces, nephews, are all okay to do business with.
• [19:33] Things to look for when finding the team. Find people who practice what they preach. Find innovators who also execute.
• [21:27] Knowledge doesn't just make you successful. Execution leads to the success.
• [21:45] Look for experience behind the table. Make sure you are dealing with a fully licensed custodian and make sure you understand the fees.
• [22:23] There are set up, annual, and transaction fees. Specialized gives unlimited buy sell transactions for a flat fee of $250 a year.
• [24:17] Think about whether you want to just dip your toe in the water or get your whole family on board with specialized platinum service.
• [24:28] To take action, you decide, deposit, and direct.

Links and Resources:

• Loral’s Real Money Talks

Amanda Holbrook from Specialized IRA Services is here with me today. We are talking about self-directed IRAs. We go into the details of how you can open one or how you can transfer an old 401(k) into one. True self-direction is not limited to stocks and bonds. Self-directed accounts allow you to get off of Wall Street and onto Main Street by investing in tangible assets.

When it comes to making and keeping money, tax advantages as well as having capitol to invest are major advantages. Having a team to help you set up something like a self-directed account can make it easy to begin earning and saving like never before. Amanda shares strategies and clears up misconceptions about this smart retirement strategy.

You can find Amanda here:

Ask Loral

Show Notes

• [02:27] Amanda started out working in the conventional lending industry. She then discovered peer-to-peer investing. Then she found out with the self-directed IRA, we can be private lenders to each other.
• [03:11] Self-Directed IRAs are the vehicle that lets you invest in something that you know.
• [03:31] True self-direction is not being limited to stocks, bonds and mutual funds. You can also invest in the nontraditional space.
• [04:34] With a self-directed IRA you have a lot more creative opportunities to get double-digit returns on your money.
• [04:51] Anyone with a social security number and earned income can have a Roth IRA.
• [05:16] With an old employer 401K it is to roll it into a self-directed IRA.
• [05:39] With a Roth IRA you pay the tax on the seed not the crop.
• [05:44] Get your kids started with a Roth IRA. It's how to build the trust fund babies of tomorrow.
• [05:52] The entire point is to get the money off of Wall Street and back onto Main Street.
• [06:28] Get professional pictures of your baby done and issue them a 1099 for the Roth seed. The limit for the year is $5500.
• [07:13] If this $5500 grows at 10% until your baby is 591/2, you have over 2.5 million of tax free income for your child. Take action today to set your children up monumentally for tomorrow.
• [08:12] There are three steps to moving a 401k. Once you have deposited the funds, you can pick a non-traditional investment.
• [09:20] There are no tax consequences as long as you keep the vehicle the same. It's a lateral move.
• [09:45] Self-directed means you are not limited to, stocks, bonds and mutual funds anymore.
• [12:04] A Roth IRA is a big piece of how you can keep your money. The taxes are already paid.
• [12:24] A Roth solo 401(k) is the account to have for self-employed people. You can put 18,500 in the tax-free portion and up to 36,000 in the tax-deferred portion.
• [13:35] Your Roth IRA can also be zero cost capital. You can take a loan out and pay yourself back.
• [14:47] You can bite tangible assets like gold, real estate, and other investments. You can have tangible investments that are insured in your tax-free account.
• [15:58] When you purchase a property and do a deal you do it in the name of your IRA. It is all about how you title the property. All expenses come from the account and all profits go back into the account.
• [16:49] You can also be a lender. When the money is made payable it's payable to your account. This is how the money grows tax-free. Month after month after month.
• [17:41] Things that can't be included are life insurance policies, collectibles like artwork, and you can't fund yourself in a business dealing.
• [18:30] You can't benefit out of the retirement account in the here and now. Your spouse is also off-limits. Aunts, uncles, nieces, nephews, are all okay to do business with.
• [19:33] Things to look for when finding the team. Find people who practice what they preach. Find innovators who also execute.
• [21:27] Knowledge doesn't just make you successful. Execution leads to the success.
• [21:45] Look for experience behind the table. Make sure you are dealing with a fully licensed custodian and make sure you understand the fees.
• [22:23] There are set up, annual, and transaction fees. Specialized gives unlimited buy sell transactions for a flat fee of $250 a year.
• [24:17] Think about whether you want to just dip your toe in the water or get your whole family on board with specialized platinum service.
• [24:28] To take action, you decide, deposit, and direct.

Links and Resources:

• Loral’s Real Money Talks

If you feel like you missed out on some of the big earning opportunities of the past, you are in luck. There are three big learning opportunities right now. The cannabis industry, blockchain technology, and cryptocurrencies are changing everything. There are huge opportunities in this space.

I’ll be in Las Vegas in October talking about these opportunities with a team of experts. I'll also be at the Big Table Mastermind in November. My guest today is Don Beavers a researcher, coder, and a crypto expert. He describes himself as a guy who knows a lot about math. Today, we talk about some of the new opportunities that are opening up and how to get in on the ground floor.

You can find Don here:

Ask Loral Don on LinkedIn Don on Twitter

• [02:11] Blockchain is a method of data storage. It's a distributive ledger. It's like a giant spreadsheet that is duplicated thousands of times on a network of computers that also keeps it updated.
• [02:54] The data is public and easily verifiable. It doesn't have a single location or a single point of failure.
• [03:40] When transactions occur, the data is encoded in digital data or encrypted. Each block is connected to the one before it and the one after it and it creates a chain.
• [04:52] Blockchain provides you with an immutable indelible record of your transactions or data. A software interface using blockchain will be customized by the industry.
• [06:51] One way to invest in blockchain is to invest in companies that are already adopting the technology. You can also participate in the industry by offering your own tokens for services.
• [09:36] Blockchain and Bitcoin are two different things. Blockchain is the technology behind crypto, but blockchain can be used for other platforms.
• [11:05] Don got into blockchain, because he is building a rocket and wants to track every component going into that rocket.
• [12:14] Blockchain is so economical and easy to work with that you can use it to track every single instance of something. It's perfect for financial data and medical records.
• [14:27] Don got into blockchain when one of his friends website was hacked. The data was encrypted and the hacker demanded bitcoin.
• [15:22] He was able to recover the website and started looking at the technology behind bitcoin. He realized the potential for blockchain.
• [15:55] Blockchain is going to make the world a better place.
• [17:11] One of the most amazing opportunities out there is pharmaceuticals and the marijuana related industries.
• [17:29] This industry requires a large amount of data acquisition. Blockchain is the perfect solution to handle the infrastructure for this data.
• [18:18] At the October event, Don is going to talk about how blockchain is going to make the cannabis industry viable and about cryptocurrencies that are safe to invest in.
• [19:12] When you get to know blockchain, you will catch the excitement, because it is going to absolutely change the world.

• Loral’s Real Money Talks
• IBM Blockchain

If you feel like you missed out on some of the big earning opportunities of the past, you are in luck. There are three big learning opportunities right now. The cannabis industry, blockchain technology, and cryptocurrencies are changing everything. There are huge opportunities in this space.

I’ll be in Las Vegas in October talking about these opportunities with a team of experts. I'll also be at the Big Table Mastermind in November. My guest today is Don Beavers a researcher, coder, and a crypto expert. He describes himself as a guy who knows a lot about math. Today, we talk about some of the new opportunities that are opening up and how to get in on the ground floor.

You can find Don here:

Ask Loral
Don on LinkedIn
Don on Twitter

• [02:11] Blockchain is a method of data storage. It's a distributive ledger. It's like a giant spreadsheet that is duplicated thousands of times on a network of computers that also keeps it updated.
• [02:54] The data is public and easily verifiable. It doesn't have a single location or a single point of failure.
• [03:40] When transactions occur, the data is encoded in digital data or encrypted. Each block is connected to the one before it and the one after it and it creates a chain.
• [04:52] Blockchain provides you with an immutable indelible record of your transactions or data. A software interface using blockchain will be customized by the industry.
• [06:51] One way to invest in blockchain is to invest in companies that are already adopting the technology. You can also participate in the industry by offering your own tokens for services.
• [09:36] Blockchain and Bitcoin are two different things. Blockchain is the technology behind crypto, but blockchain can be used for other platforms.
• [11:05] Don got into blockchain, because he is building a rocket and wants to track every component going into that rocket.
• [12:14] Blockchain is so economical and easy to work with that you can use it to track every single instance of something. It's perfect for financial data and medical records.
• [14:27] Don got into blockchain when one of his friends website was hacked. The data was encrypted and the hacker demanded bitcoin.
• [15:22] He was able to recover the website and started looking at the technology behind bitcoin. He realized the potential for blockchain.
• [15:55] Blockchain is going to make the world a better place.
• [17:11] One of the most amazing opportunities out there is pharmaceuticals and the marijuana related industries.
• [17:29] This industry requires a large amount of data acquisition. Blockchain is the perfect solution to handle the infrastructure for this data.
• [18:18] At the October event, Don is going to talk about how blockchain is going to make the cannabis industry viable and about cryptocurrencies that are safe to invest in.
• [19:12] When you get to know blockchain, you will catch the excitement, because it is going to absolutely change the world.

• Loral’s Real Money Talks
• IBM Blockchain

Real estate is one of the fastest paths to becoming a millionaire. My friend and mentor Ron LeGrand is here today to talk about how to get started investing in real estate and why it is such a great investment.

Ron also shares his outlook on the market. It’s possible to mitigate risk and even make money on a downturn. There will always be people who want to buy houses and people who want to sell houses. Ron has been a successful real estate investor for 36 years, and he teaches other people to do the same.

You can find Ron here:

Ask Loral Ron's Website Ron on YouTube Ron on Twitter Ron on Facebook

[bctt tweet="‘I'm a firm believer in multiple income streams. Real estate is just one vehicle for creating income.’ -Ron LeGrand" username="liveoutloud"]

• [01:39] Ron started out with nothing and knowing nothing. All of a sudden, things clicked. He was a mechanic at a service station and decided he didn't want to do that anymore.
• [01:58] He started looking for an alternative, and what he found was real estate.
• [02:24] Ron is a firm believer in multiple income streams. Real estate is just one vehicle to create income.
• [02:31] Ron has multiple businesses and has learned how to get out of the way and let people do what they do best.
• [02:47] Real estate today is more systematized and automated than it ever has been. We have built step-by-step systems for people. We even have a whole team of virtual assistance.
• [03:12] We have virtual assistance that call sellers and do all the things that entrepreneurs don't want to do, so that we can sit back and do what we are supposed to do and that is make decisions.
• [03:16] Ron buys three or four houses a month and it hardly takes any of his time.
• [03:40] Real estate has been very good to Ron, but like any other business, you have to learn how to do it correctly.
• [04:16] Ron shares his outlook on today's real estate market. He has seen five real estate cycles of ups and downs in the last 36 years.
• [04:40] There has never been a year when you couldn't buy and sell houses.
• [04:55] There will be a correction, because there always is one. We just don't know when it will happen.
• [05:16] Guaranteeing debt is the number one biggest mistake that you can make.
• [05:31] The worst that can happen in a downturn is you lose assets that you got for free anyway.
• [06:43] Real estate is just a mutual fund with a house on it. Too many people are in a hurry to sell the property, which is really the golden goose that is bringing them money.
• [07:28] You can free up capital by letting real estate generate money.
• [08:36] The five steps to business. Locate prospects. Prescreen those prospects. Construct and present offers. Follow-up and get it in writing. Get it into cash quickly.
• [10:09] The entire process is now automated. All I have to do is decide who I want to buy from and then agree upon the terms.
• [10:41] The Gold Club can help you find prospects.
• [13:08] The ugly house side is about price. The pretty house side is about terms.
• [14:19] Look for people who will give you great terms like nothing down and a low monthly payment.
• [15:30] IRA money as a source of funding. You can use IRA money to pay cash for houses that you get at a deep discount. You can then flip them right away or after a rehab. Your profit goes back into the IRA tax-free.
• [17:14] There is no limit with how much profit your IRA can make.
• [17:33] You don't need money to buy a house with nothing down.
• [18:37] You can also borrow money from a private lender. A lot of this money comes from people's IRAs.
• [20:12] It's hard for some people to stop doing everything and let other team members help them. But it really is the way to be successful with a real estate system.

• Loral’s Real Money Talks

Real estate is one of the fastest paths to becoming a millionaire. My friend and mentor Ron LeGrand is here today to talk about how to get started investing in real estate and why it is such a great investment.

Ron also shares his outlook on the market. It’s possible to mitigate risk and even make money on a downturn. There will always be people who want to buy houses and people who want to sell houses. Ron has been a successful real estate investor for 36 years, and he teaches other people to do the same.

You can find Ron here:

Ask Loral
Ron's Website
Ron on YouTube
Ron on Twitter
Ron on Facebook

[bctt tweet="‘I'm a firm believer in multiple income streams. Real estate is just one vehicle for creating income.’ -Ron LeGrand" username="liveoutloud"]

• [01:39] Ron started out with nothing and knowing nothing. All of a sudden, things clicked. He was a mechanic at a service station and decided he didn't want to do that anymore.
• [01:58] He started looking for an alternative, and what he found was real estate.
• [02:24] Ron is a firm believer in multiple income streams. Real estate is just one vehicle to create income.
• [02:31] Ron has multiple businesses and has learned how to get out of the way and let people do what they do best.
• [02:47] Real estate today is more systematized and automated than it ever has been. We have built step-by-step systems for people. We even have a whole team of virtual assistance.
• [03:12] We have virtual assistance that call sellers and do all the things that entrepreneurs don't want to do, so that we can sit back and do what we are supposed to do and that is make decisions.
• [03:16] Ron buys three or four houses a month and it hardly takes any of his time.
• [03:40] Real estate has been very good to Ron, but like any other business, you have to learn how to do it correctly.
• [04:16] Ron shares his outlook on today's real estate market. He has seen five real estate cycles of ups and downs in the last 36 years.
• [04:40] There has never been a year when you couldn't buy and sell houses.
• [04:55] There will be a correction, because there always is one. We just don't know when it will happen.
• [05:16] Guaranteeing debt is the number one biggest mistake that you can make.
• [05:31] The worst that can happen in a downturn is you lose assets that you got for free anyway.
• [06:43] Real estate is just a mutual fund with a house on it. Too many people are in a hurry to sell the property, which is really the golden goose that is bringing them money.
• [07:28] You can free up capital by letting real estate generate money.
• [08:36] The five steps to business. Locate prospects. Prescreen those prospects. Construct and present offers. Follow-up and get it in writing. Get it into cash quickly.
• [10:09] The entire process is now automated. All I have to do is decide who I want to buy from and then agree upon the terms.
• [10:41] The Gold Club can help you find prospects.
• [13:08] The ugly house side is about price. The pretty house side is about terms.
• [14:19] Look for people who will give you great terms like nothing down and a low monthly payment.
• [15:30] IRA money as a source of funding. You can use IRA money to pay cash for houses that you get at a deep discount. You can then flip them right away or after a rehab. Your profit goes back into the IRA tax-free.
• [17:14] There is no limit with how much profit your IRA can make.
• [17:33] You don't need money to buy a house with nothing down.
• [18:37] You can also borrow money from a private lender. A lot of this money comes from people's IRAs.
• [20:12] It's hard for some people to stop doing everything and let other team members help them. But it really is the way to be successful with a real estate system.

• Loral’s Real Money Talks