Transform your Mind

Transform your Mind

By Myrna Young | Life Coach | Trauma Recovery ExpertHealth & FitnessMental HealthEducationSelf-Improvement
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Transform your Mind episodes

  • Is the Secret to Love, Sex? - Transform your Mind with Coach Myrna


    Is the secret to Love, Sex? This week on Mindset Transformation Radio Podcast, I interview Love Coach James Green. James answers the question "Is Sex the most important factor in a relationship? Tune in to find out the answer.

    So, let me ask you. What do you think is the most important factor in a relationship? In my research for this interview. I found this article
    on the secret to a long marriage. Hint it was not Sex!

    Secret to a long Marriage
    A couple was celebrating their golden wedding anniversary. Their domestic tranquility had long been the talk of the town. A local newspaper reporter was inquiring as to the secret of their long and happy marriage. "Well, it dates back to our honeymoon," explained the man. "We visited the Grand Canyon and took a trip down to the bottom on the canyon by pack mule. We hadn't gone too far when my wife's mule stumbled. My wife quietly said, 'That's once.' We proceeded a little further and the mule stumbled again. Once more my wife quietly said, 'That's twice.' Hadn't gone a half- mile when the mule stumbled the third time. My wife quietly removed a revolver from her pocket and shot the mule dead. I started to yell at her for her treatment of the mule when she looked at me and quietly said 'That's once."
    Lol. Hope you had a good laugh.

    But in all seriousness. We have heard the phrase " A Happy wife a happy life"
    Here is another article about a couple married 79 years.

    “Just want you to know that you’re still the one I would choose. Still the one I give my heart to, still the one I love.”

    So, what’s their secret?

    “To support one another, whatever the problems may be, good or bad. Stick together. That’s about it,” Bertha said.

    “You know why this lasted 79 years? She has the last word,” Dan added with a smile.

    Let me introduce my guest this week:

    James is a certified Love and Emotional Intelligence coach. His mission is to teach people how to love themselves as well as love each other. James specialty is Relationship and Personal Development Coaching.

    Show notes:
    1. Question 1: Tell us of your journey to become a Love and emotional Intelligence coach. Do you have a personal story that made you specialize in this field?

    I was a single parent and realized that when looking for a mate, I had to look for someone who would fit into my lifestyle as a single father. The woman had to accept me and my son as a package deal. That made me look at factors other than Sex.
    As far as my journey to becoming a Love and Emotional intelligence coach, I found I had the aptitude to reach people. People opened up to me. I remember once standing in the line at McDonald's and this man in line started talking to me telling me his story. I decided to get my certification as a Life Coach
    2. Question 2: How does emotional intelligence fit into the relationship dynamics?
    Emotional Intelligence is the ability to hear what your partner is not saying. It is the ability to realize that when your partner says Fine, I am okay with that. for example. She is not fine with that, from her tonality or her body language.
    Another facet of emotional intelligence is the ability to keep your cool and not fly off the handle at the slightest provocation.

    3. Question 3: What problems do find are the most common and how do you coach your clients to solve them?
    I find Trust, Communication and the inability to seek out coaching until after they start experiencing problems.


    Couples tend to think that coaching is not needed until there is a huge problem in their relationship and when I...
    50 min
  • How to Become an Open Communicator - Transform your Mind with Coach Myrna


    This week on Mindset Transformation radio and podcast with Coach Myrna Young, I interview Leadership Coach and Trainer, Gail Green.
    Gail teaches us How to Become an Open Communicator. Gail is the founder of GoGreen Learning.
    To receive her Free Gift of 3 Go Cards send her an email from her web site www.gogreenlearning.com




    Here is a brief Biography of my guest Gail Green.
    • Gail is a leadership coach and trainer and her topic today is "How to find out if you are an open or closed communicator" in your business environment. Gail is a leader who connects individuals and teams to their truth, helping them to discover their full expression of courage, joy and fulfillment. Gail works with all sizes of companies, as well as individually with leaders, and do life coaching with individuals from all walks of life.
    • Gail’s primary work is in leadership development, teambuilding, stress management and all forms of communication skills.


    Why is being a closed communicator bad? Because as a closed off person, you become defensive, resistant, bitchy, moody, easy to anger, confrontational, and not open to feedback.
    So as a Leader, it is important to be open to your team and employees.
    Open people radiate outwards from their heart and is able to touch others.
    If you want to impact your employees and your customers, then learn how to be open.
    Listen to the podcast as Gail teaches us how to be Open vs Closed with the help of her Go Cards.

    Brian Tracy The author of "Eat that Frog" also teaches How to become an Open Leader and achieve new levels of success in sales.
    Click the link below to find out how.




    Are You also Closed Off in your personal relationships And Don’t Even Know It?

    How Would you answer the following questions?
    Are you emotionally guarded?
    Are you willing to take risks?

    If you answered yes to these questions, it could mean that you are closed off emotionally.

    Sometimes being emotionally guarded gets you into bad situations; but most of the time it gets you nowhere. In every area of life, there is no reward if there is no risk taken. So that could be why you keep finding yourself in relationships that bore you, or in relationship with other emotionally closed off individuals. Because like attracts like. Those relationships aren’t very rewarding, are they? If you don’t take the risk by putting your true self and your true feelings on the table, those are the types of relationships that you will attract. Your emotionally open friends will get those giddy, best-friends-lovers, movie-type romances; you will get the dead-end ones. Maybe you’ve never had your heart broken, and maybe you think that’s a perk. But it’s not. It is said that it is better to have loved and lost then to have never loved at all! So, I will ask the question. Are you closed off and don’t even realize it?

    Here is an article from Madame Enoire that asks 10 more ways to tell if you are closed off personally.


    Here are 10 ways to tell if you closed off personally:
    1. Do you feel like first dates are interrogations, and are put off by the line of questioning you receive during them?
    2. Does it feel very inappropriate to you whenever someone becomes emotional around you?
    3.
    57 min
  • Life Coaching part 1: Who am I - Transform your Mind with Coach Myrna


    In today's episode I want to share with you Life Coaching Part 1: Who am I? from my 6-week Life coaching workshop.
    We can never become who we were meant to be unless we can first recognize who we are.


    To know thyself is to grow thyself


    So let’s dive right in.
    First a little about Who I am.
    I am a certified Life coach specializing in Mindset and consciousness. In 2012 I wrote my first book “Becoming conscious, my awakening” because I started to understand Who I was. In this episode I will take you through the process of discovering Who you are.

    If you like this content please share with your friends and remember to rate, review and subscribe to the podcast. Thank you

    Question #1 What are my deepest and truest values?
    Your deepest values are the ones no one can move you off of. Your deepest values are the ones that if not met, hurt the most. Your truest values are the ones that make you cry.

    Your deepest value could be that you would never hit your child. You were abused as a child and you vowed never to hit your child; but you get married and your spouse believes in spanking. He or she believes the bible that says spare the rod and spoil the child. So, your spouse spanks your child. It hurts you so much that you are forced to file for a divorce. Irreconcilable Differences!

    Another example could be that you were brought up that nice girls do not have sex before marriage. It is a deal breaker in all your relationships. Your dates either leave you or they cheat on you; but you can't bring yourself to have premarital sex. It is one of your deepest and truest values. As a result, you are single and unmarried at 40 years old.

    Your deepest values could be about how you feel about charity. I never pass someone on the street begging. I feel it is a blessing to have a dollar to give. My husband on the other hand, feels that everybody can find a job, and only the worthless people stand at the corner and beg. That is his deepest value and this is mine.

    Your deepest value could take the form of image. You may be willing to endure a passionless marriage if it gives you status in your community. There are lots of big houses with white picket fences that house very unhappy families.
    One of my deepest values was on domestic abuse. My ex-husband slapped me and I divorced him. Simple as that! My value took the form that I would never become a battered woman. I knew that if he hit me once he would hit me again. My daughter was 5 years old at the time. Most women would have a value in giving their children a family with a mom and dad. But mine was more self-centered. Nobody should judge your deepest values. They are yours. You must know them and accept them. They make you who you are. A unique being!



    Your truest value could be in how you love and receive love.
    Do you believe that you could only love one person and there is only one true love for you? What happens if you get a divorce or your spouse dies? Does that mean that love is over for you?
    How do you receive love?
    I heard a story once about a woman who would ask her husband every day if he loved her. He would say of course I love you honey. Yet she did not believe him and would ask him again the next day. She felt love by how much attention she received from her husband. As her insecurities grew she required more and more attention. The marriage ended in divorce.

    Your deepest value could be on why you feel you are on this earth, in this body. Do you take the time to consider your purpose and your legacy?

    Question #2 Ask yourself What are my preferences and priorities?

    What kind of house would I like to live in.
    What country would I like to live in if I had a choice.
    47 min
  • How to Become a Life Coach - Transform your Mind with Coach Myrna


    Do you feel that you are called to make a difference in the lives of others?
    Do any of these statements sound like you?
    • I want to help others and make a difference in the world.
    • I want to have a life purpose beyond what I am currently doing.
    • I want to be happier, satisfied and fulfilled with my life.
    • I want to get unstuck and feel more in control of my life.
    • My friends all tell me that I should be a coach!

    Becoming a Life coach is both a rewarding career and a financially viable career.
    Life coach’s life Tony Robbins make millions of dollars per year.
    Top Executive coaches can charge up to $3000 for a 45-min session to coach top CEO's of major corporations.
    As a starting Life coach, here is the statistics of what you can make in the first year of business.
    Average coaching salaries according to Sherpa: Executive Coaches make $325 per hour. Business Coaches make $235 per hour. Life Coaches make $160 per hour.

    A Life coach is the umbrella that all other coaching fall under.
    A top CEO for example is coached on how to be good leader and motivate his managers to excellence but if his personal life is a mess he cannot be effective.


    Who you are shows up in all your interactions


    As you coach others, you are also coaching yourself.

    Here are the steps to becoming a certified Life Coach:

    1: Figure out your niche - what are you going to specialize in
    For example, would you want to coach on happiness?
    The goal of every living person is to find happiness.

    As a Happiness Life coach, you could coach your clients on the following:
    Defining Happiness – What is Happiness, how is it measured
    Benefits and Challenges in finding happiness
    Finding happiness through networking and getting to know people. Most of us need others to make us happy.
    Worksheets and Workbooks for Your Clients, e.g. to remove old conditioning and beliefs.
    You could do an Intro on how You found Your Happiness
    Peeling Off the Layers – What is making your clients unhappy
    Layer 1: Desire (influences/programming/expectations)
    Layer 2: Limiting Beliefs (unconscious/agreements)
    Layer 3: Ego and Identity (attachments/roles)
    Layer 4: Time (past and future vs. the now)
    Layer 5: Patterns and Conditioning (rewiring for joy)
    Layer 6: Your Current Mood (emotions)
    Certification Completion – You are now ready to go do it!


    2: Find a school that teaches the foundation of the coaching business as well as the principles

    9 Key Considerations for Choosing the Right Coach Training Program for You

    1. What is the training school’s underlying philosophy?
    The traditional method of coaching often brings about only incremental and short-lived results. Of course, when you help change a person’s actions, they do get results—but not sustainable results. That’s because the underlying thoughts and emotions that truly drive actions are not addressed. Without changing core thoughts and emotions, individuals eventually revert back to their old habits, routines, and actions.
    Find a program that teaches you how to help your clients change the way they think and feel. A program that teaches you how to help clients break through limiting thoughts and emotional responses, and replace them with supportive, empowering beliefs. As a result, clients are moved to take powerful and consistent action.

    2. How does the school deliver training?
    A very important aspect in choosing the right coach training school is determining which program employs the most effective training and learning techniques for you. There are many ways to deliver coach training: • Live classroom training • Telecl...
    43 min
  • How to Raise your Self-esteem by Erasing Self Doubt


    In this week's segment of the Mindset Transformation radio show and podcast with Coach Myrna, I teach on the topic how to Raise your Self Esteem by Erasing Self Doubt.


    Self confidence and self esteem is the belief that you can accomplish any task or any goal.


    Self doubt is the negative narrative that plays in your head. It is like PAC man. It is there to eat up your confidence

    I was listening to a Ted talk YouTube video last week and the speaker was telling his story.
    He said for 10 years he smoked crack when he woke up and before he went to bed. Hoping to numb the pain of living. He was a disappointment to his mother, his wife and his children. He felt worthless!
    On his second trip to prison, he spent a total of 8 years in prison, his adopted mother had a heart attack and he was told she was not going to make it. He felt pretty low that this woman who he adopted him and loved his as her own and tried to give him a better life was now in the hospital, in a cold dark room and he was not there to offer her comfort. This was the first spark of change in him. Maybe he should do something with his life other than being a mess up.
    When he got out of prison this time he decided to go to college. He was now a middle aged black man and he was in college with 20 year old white students. Never the less he did good and now looked forward for the accolades his teachers gave him because he was performing better than expected. He said that praise was now his new drug. He lived for his teachers praises. One day one of his teachers put an application for a job on his desk. He couldn’t believe it. His teacher had confidence in him, his teacher had confidence in his ability to do the job. The self confidence seedling inside him got water and grew a little. As his self confidence grew, his life changed. No longer was he a non contributing member to society, he was making a contribution. He now had a new family and 7 years after he was released from prison, he received his PHD in Physiology!


    Self confidence doesn't always come naturally. Sometimes you have to practice and practice until you build it. Sometimes it comes from your teachers or your parents.

    So today I will share some tools to help you build up your self confidence and self esteem while starving the negative self talk. The negative talk that tells you, you are not good enough. You can never make it, you are not smart enough, pretty enough, thin enough.

    But before we can get to the solution of anything or before we can get to anywhere on the map, we have to know how we got to where we are right now and pinpoint where we are.

    For example. If you are at the mall and you are wanting to go to Macy's department store you look at the map and it shows "You are here" if you want to get to Macy's than you know you have to walk right or left.
    It is the same way in life.

    Statics show that we can shed a lot of light on how we got here on the map by looking at our childhood. You see parenting does not come
    with a manual and some parents get it right; but most get it wrong.

    Understanding your inner child is very important to unlocking the door of where you are on the map today.
    You see when you came into the world you were totally dependent on someone else to care for you. Not just to feed you, bathe you, and to keep you warm but to love you, protect you and nurture you.
    If whenever you cried your mother or caregiver came and picked you up and smiled at you and comforted you then you transformed that into the feeling of you are important.
    If however when you cried you were ignored, then you formed the feeling that you are unwanted.
    41 min
  • How to Raise your Self-esteem by Erasing Self Doubt - Transform your Mind with Coach Myrna


    In this week's segment of the Mindset Transformation radio show and podcast with Coach Myrna, I teach on the topic how to Raise your Self Esteem by Erasing Self Doubt.


    Self confidence and self esteem is the belief that you can accomplish any task or any goal.


    Self doubt is the negative narrative that plays in your head. It is like PAC man. It is there to eat up your confidence

    I was listening to a Ted talk YouTube video last week and the speaker was telling his story.
    He said for 10 years he smoked crack when he woke up and before he went to bed. Hoping to numb the pain of living. He was a disappointment to his mother, his wife and his children. He felt worthless!
    On his second trip to prison, he spent a total of 8 years in prison, his adopted mother had a heart attack and he was told she was not going to make it. He felt pretty low that this woman who he adopted him and loved his as her own and tried to give him a better life was now in the hospital, in a cold dark room and he was not there to offer her comfort. This was the first spark of change in him. Maybe he should do something with his life other than being a mess up.
    When he got out of prison this time he decided to go to college. He was now a middle aged black man and he was in college with 20 year old white students. Never the less he did good and now looked forward for the accolades his teachers gave him because he was performing better than expected. He said that praise was now his new drug. He lived for his teachers praises. One day one of his teachers put an application for a job on his desk. He couldn’t believe it. His teacher had confidence in him, his teacher had confidence in his ability to do the job. The self confidence seedling inside him got water and grew a little. As his self confidence grew, his life changed. No longer was he a non contributing member to society, he was making a contribution. He now had a new family and 7 years after he was released from prison, he received his PHD in Physiology!


    Self confidence doesn't always come naturally. Sometimes you have to practice and practice until you build it. Sometimes it comes from your teachers or your parents.

    So today I will share some tools to help you build up your self confidence and self esteem while starving the negative self talk. The negative talk that tells you, you are not good enough. You can never make it, you are not smart enough, pretty enough, thin enough.

    But before we can get to the solution of anything or before we can get to anywhere on the map, we have to know how we got to where we are right now and pinpoint where we are.

    For example. If you are at the mall and you are wanting to go to Macy's department store you look at the map and it shows "You are here" if you want to get to Macy's than you know you have to walk right or left.
    It is the same way in life.

    Statics show that we can shed a lot of light on how we got here on the map by looking at our childhood. You see parenting does not come
    with a manual and some parents get it right; but most get it wrong.

    Understanding your inner child is very important to unlocking the door of where you are on the map today.
    You see when you came into the world you were totally dependent on someone else to care for you. Not just to feed you, bathe you, and to keep you warm but to love you, protect you and nurture you.
    If whenever you cried your mother or caregiver came and picked you up and smiled at you and comforted you then you transformed that into the feeling of you are important.
    If however when you cried you were ignored, then you formed the feeling that you are unwanted.
    41 min
  • Seven Social Media Tools To Grow Your Online Business


    This week on the Mindset Transformation radio show and podcast with Coach Myrna, I interview Online business coach Jessie Guilford. Jessie is a marketing expert and she will teach us the top "Seven Social Media Tools to Grow your Online Business."

    Tip of the week from coach Myrna: How You Can Use Pinterest To Grow Your Online Business
    Pinterest exists for people to come together to gather, collect and share snapshots of their own ideas, memories, and interests.
    In the early days of the social networking platform, that was all Pinterest really was. A simple place for people to come together and scrapbook. It was a collectively personal experience that gave the world something nice.
    These days, Pinterest is more than just a nice global scrapbook. With 100 million active users (emphasis on the “active”), it’s now being used by some of the biggest companies on the planet to build awareness, drive traffic to their websites, and sell.

    Pinterest is popular with users because it allows them to choose how to interact with brands and businesses — not the other way around. Users can navigate based on their own interests so product endorsements aren’t quite as invasive here as in other social media platforms.
    Most people on Pinterest are actually looking to make purchases, which means brands are only really guiding their products to the people who need them.


    Guest Biography
    Jessie grew up on a grain & cattle farm in Manitoba, Canada with a passion for the outdoors, horseback riding, shopping and creating the life she desired. She graduated University with her Bachelor of Business Degree and achieved the Duke of Edinburgh's Program Gold Award before entering the corporate world. She worked in Research as well as Sales + Marketing while starting and running her own website design business at the age of 22. Realizing that the 9-5, slowly-climb-the-corporate-ladder world was not for her, she soon realized her passion for coaching amazing women from all over the world to help them achieve their business goals and build a life they loved.

    Show notes:
    1. Question 1: How did your love of website design from the early age of 22 come about?
    2. What are 3 things to think about before starting an online business?
    3. Can you suggest the top seven social media tools that will help with people's online marketing and business growth?
    4. What are some different ways to market your business online (and offline!)
    5. What to say when someone asks "What do you do?" - example your cocktail pitch!
    6. How should a successful discovery/strategy/free call with a potential client sound like?
    7. How can people get visible and find their target market?
    8. How can someone change their mindset to make a certain sales target?


    Free Gift
    • "9 Easy Ways to Get Clients Knocking Down Your Door"
    Send an email to [email protected] to claim your Free Gift!

    If you are looking for some more tools or new tools for 2017, take a look at this article from Buffer Social.
    The 20 Best New Social media tools

    Every so often, a new social media platform emerges to capture our attention (Peach) or become part of our daily lives (Snapchat).
    The social media tools landscape can be just as fascinating — and robust!
    Every week, people build and launch new social media tools, empowering us marketers in our day-to-day work. To give you a sense of how amazing the landscape is, here’s a graphic of some of the social media tools available: social media management, listening, analyzing, content creation, and more.

    As part of our State of Social Media 2016 campaign, we’ve scoured Product Hunt for the latest trending social media tool...
    56 min
  • Seven Social Media Tools To Grow Your Online Business - Transform your Mind with Coach Myrna


    This week on the Mindset Transformation radio show and podcast with Coach Myrna, I interview Online business coach Jessie Guilford. Jessie is a marketing expert and she will teach us the top "Seven Social Media Tools to Grow your Online Business."

    Tip of the week from coach Myrna: How You Can Use Pinterest To Grow Your Online Business
    Pinterest exists for people to come together to gather, collect and share snapshots of their own ideas, memories, and interests.
    In the early days of the social networking platform, that was all Pinterest really was. A simple place for people to come together and scrapbook. It was a collectively personal experience that gave the world something nice.
    These days, Pinterest is more than just a nice global scrapbook. With 100 million active users (emphasis on the “active”), it’s now being used by some of the biggest companies on the planet to build awareness, drive traffic to their websites, and sell.

    Pinterest is popular with users because it allows them to choose how to interact with brands and businesses — not the other way around. Users can navigate based on their own interests so product endorsements aren’t quite as invasive here as in other social media platforms.
    Most people on Pinterest are actually looking to make purchases, which means brands are only really guiding their products to the people who need them.


    Guest Biography
    Jessie grew up on a grain & cattle farm in Manitoba, Canada with a passion for the outdoors, horseback riding, shopping and creating the life she desired. She graduated University with her Bachelor of Business Degree and achieved the Duke of Edinburgh's Program Gold Award before entering the corporate world. She worked in Research as well as Sales + Marketing while starting and running her own website design business at the age of 22. Realizing that the 9-5, slowly-climb-the-corporate-ladder world was not for her, she soon realized her passion for coaching amazing women from all over the world to help them achieve their business goals and build a life they loved.

    Show notes:
    1. Question 1: How did your love of website design from the early age of 22 come about?
    2. What are 3 things to think about before starting an online business?
    3. Can you suggest the top seven social media tools that will help with people's online marketing and business growth?
    4. What are some different ways to market your business online (and offline!)
    5. What to say when someone asks "What do you do?" - example your cocktail pitch!
    6. How should a successful discovery/strategy/free call with a potential client sound like?
    7. How can people get visible and find their target market?
    8. How can someone change their mindset to make a certain sales target?


    Free Gift
    • "9 Easy Ways to Get Clients Knocking Down Your Door"
    Send an email to [email protected] to claim your Free Gift!

    If you are looking for some more tools or new tools for 2017, take a look at this article from Buffer Social.
    The 20 Best New Social media tools

    Every so often, a new social media platform emerges to capture our attention (Peach) or become part of our daily lives (Snapchat).
    The social media tools landscape can be just as fascinating — and robust!
    Every week, people build and launch new social media tools, empowering us marketers in our day-to-day work. To give you a sense of how amazing the landscape is, here’s a graphic of some of the social media tools available: social media management, listening, analyzing, content creation, and more.

    As part of our State of Social Media 2016 campaign, we’ve scoured Product Hunt for the latest trending social media tool...
    56 min
  • Is Starting A Real Estate Investment LLC A Good Idea?


    This week on The Mindset Transformation Radio show and Podcast with Coach Myrna and Rich Dad trainer Trevor Evans, we discuss the topic "Is Starting A Real Estate Investment LLC A Good Idea?"

    This is the 6th episode in our Funding, Fixing, and Flipping Series:
    Listen in to understand how important setting up your Real Estate Investment business with the right tax structure, would allow you to keep most of your investment income and not pay all of it to the tax man!

    Tip of the week from Coach Myrna: Landlord LLC benefits
    If you hold and rent Real Estate, this article could offer massive insight on one possible way to structure your company. We are not giving legal advice, just questions for you to ask you asset protection attorney.
    Keeping in mind the risks associated with opening your business as a sole proprietorship, consider using this scenario for your business.

    Open an LLC, purchase a property, but don’t manage it. That’s right, don’t be the one to manage the property. You can use the combination of a C-Corp and an LLC. Let the C-Corp manage the company. This is good to reduce liabilities. How? Let’s take an example.

    For the last four months, the tenants have been complaining that the parking lot in the complex you own is too dark. They don’t feel safe walking to and from their cars at night and want to have you install more street lights to brighten up the area. They continue to complain to the management company, the C-Corp, letting them know of the issue. Having not addressed the concerns, the parking lot remains dark and one night, while walking in from her car, a young mother of two who live in your property is robbed at gun point in the dark parking lot. When she sues, who is liable? The LLC? They own the property, so it would be them, right? Wrong.
    The C-Corp, as the managing entity, is the responsible party when it comes to any damages and liabilities incurred because of this incident.
    The LLC, having limited liability, is protected. This is something very important to keep in mind when making the decision on which type of entity you wish to use.

    For more information on setting up the structure of your Real Estate Investment business, check out this Connected Investor Blog post

    https://connectedinvestors.com/blog/real-estate-investment-llc-vs-s-corp/



    So, What are the Pro's and Con's of LLC for Real Estate Investing? Is starting a Real Estate Investment LLC a good idea?
    Tune in to hear Trevor's answer.



    What exactly are the major differences between an S-Corp, C-Corp and an LLC as it relates to real estate investing?


    A C-Corp is a management entity. As per my tip of the week. Use your C-Corp to manage your rental properties.
    So, in case you are sued for negligence, the C-Corp would be the benefactor of the law suit and you as the owner would have no liability.
    The C-Corp also has more leniency in regards to what expenses can be written off; but the biggest benefit of having a C-Corp manage your rental properties, is the ability for the C-Corp to collect rental revenues and pay the HOA dues and other expenses from these revenues. You as the owner of the property, would only be responsible for your positive cash flow at the end of the month.

    If you were collecting the rents in your personal name then you would have to claim the entire amount as income.

    LLC - A single member LLC offers no asset protection and is charged with self employment tax.
    A multiple member LLC has asset protection.
    A multiple member LLC,
    55 min
  • Is Starting A Real Estate Investment LLC A Good Idea? - Transform your Mind with Coach Myrna


    This week on The Mindset Transformation Radio show and Podcast with Coach Myrna and Rich Dad trainer Trevor Evans, we discuss the topic "Is Starting A Real Estate Investment LLC A Good Idea?"

    This is the 6th episode in our Funding, Fixing, and Flipping Series:
    Listen in to understand how important setting up your Real Estate Investment business with the right tax structure, would allow you to keep most of your investment income and not pay all of it to the tax man!

    Tip of the week from Coach Myrna: Landlord LLC benefits
    If you hold and rent Real Estate, this article could offer massive insight on one possible way to structure your company. We are not giving legal advice, just questions for you to ask you asset protection attorney.
    Keeping in mind the risks associated with opening your business as a sole proprietorship, consider using this scenario for your business.

    Open an LLC, purchase a property, but don’t manage it. That’s right, don’t be the one to manage the property. You can use the combination of a C-Corp and an LLC. Let the C-Corp manage the company. This is good to reduce liabilities. How? Let’s take an example.

    For the last four months, the tenants have been complaining that the parking lot in the complex you own is too dark. They don’t feel safe walking to and from their cars at night and want to have you install more street lights to brighten up the area. They continue to complain to the management company, the C-Corp, letting them know of the issue. Having not addressed the concerns, the parking lot remains dark and one night, while walking in from her car, a young mother of two who live in your property is robbed at gun point in the dark parking lot. When she sues, who is liable? The LLC? They own the property, so it would be them, right? Wrong.
    The C-Corp, as the managing entity, is the responsible party when it comes to any damages and liabilities incurred because of this incident.
    The LLC, having limited liability, is protected. This is something very important to keep in mind when making the decision on which type of entity you wish to use.

    For more information on setting up the structure of your Real Estate Investment business, check out this Connected Investor Blog post

    http://connectedinvestors.com/blog/real-estate-investment-llc-vs-s-corp/



    So, What are the Pro's and Con's of LLC for Real Estate Investing? Is starting a Real Estate Investment LLC a good idea?
    Tune in to hear Trevor's answer.



    What exactly are the major differences between an S-Corp, C-Corp and an LLC as it relates to real estate investing?


    A C-Corp is a management entity. As per my tip of the week. Use your C-Corp to manage your rental properties.
    So, in case you are sued for negligence, the C-Corp would be the benefactor of the law suit and you as the owner would have no liability.
    The C-Corp also has more leniency in regards to what expenses can be written off; but the biggest benefit of having a C-Corp manage your rental properties, is the ability for the C-Corp to collect rental revenues and pay the HOA dues and other expenses from these revenues. You as the owner of the property, would only be responsible for your positive cash flow at the end of the month.

    If you were collecting the rents in your personal name then you would have to claim the entire amount as income.

    LLC - A single member LLC offers no asset protection and is charged with self employment tax.
    A multiple member LLC has asset protection.
    A multiple member LLC,
    55 min

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