Uncommon Wealth Podcast

We say it often: short-term rentals are a great way to stick your toe in the water in exploring investment properties. But there are still a lot of unknowns as you start out. Like the basics – how much should I charge? What is your competition? Does this place even need short-term rentals?

First, the opportunities are greater than you might think. Second – the data is there to answer many of your questions. Our podcast guest has answers, and he is working hard to mine the data for even more detailed answers.

On our most recent podcast episode, we talk to Scott Shatford who started renting his home on AirBnB when he went away on extended travel. He immediately saw the potential. His background in data analytics gave him an idea: why not create a repository for data that can help short-term renters understand their market?

AirDNA.co was born. AirDNA is an aggregator of short-term rental data & insights to help owners succeed in the sharing economy.

• Why good data about short-term rentals in your area can help you make smarter business decisions
• How and when to scale and automate your short-term rental business
• Revenue and channel management strategies for short-term rentals
• What people are looking for in a short-term rental
• Hotel industry efforts to regulate or outright squash short-term rental businesses and what to do about it
• What you can learn about a potential rental property from “The Rentalizer” beta testing on airdna.co
• Growing business opportunities that complement the short-term rental industry.
• How to locate the best places to invest in short-term rental properties
• How to create a unique guest experience for your ideal guest

One of our guiding principles is to help people think about earning money in ways way beyond their paycheck. That’s what the 7 Sources of Residual Income are all about.

On our latest duocast, we dive into 4 of these sources that you might not think of. Some of them you might even dismiss as something you can’t or won’t do. We dig into royalties, subscription models, affiliate and network marketing, and try to take away some of the mystique and misconceptions around them. Never say never!

You might be surprised at the ways you can receive royalties on your original work. You might be surprised at the number of millionaires who are network marketing experts. You might be surprised that your business could be the perfect fit for a subscription model, giving you consistent cash flow and a solid client base. You might be surprised at what you can earn on what has been a hobby for you, through affiliate marketing.

And as usual, we don’t mince words. We want you to understand best practices around these income streams. Excellence and mastery are earned, so easy riches are not part of the conversation here.

• The different categories of royalties
• What real diversification looks like
• 3 sources of residual income to turn hobbies into cash flow
• Why licensing an invention might be better than building a business around it
• Earning money with your content through affiliate marketing
• Similarities and differences between subscription and affiliate models
• How a subscription model could bring consistent cash flow to your business
• Why subscription models are a win for both the client and the provider
• How network marketing is done right

Getting from dream to reality is hard work. Sometimes just getting clear on what the dream is can be a challenge, much less making that dream come true.

On this episode of the Uncommon Life Project Podcast, hosts Phillip Ramsey and Bryan Dewhurst talk with Mitch Matthews.

This episode has the feel of listening in on a mastermind gathering between 3 colleagues who know, appreciate, and trust each other. Mitch Matthews is not about platitudes or empty rhetoric. He is always researching and then teaching how people can dream big, think things through, and do more of what they are meant to do on this planet.

Mitch Matthews is a keynote speaker, success coach and best-selling author. He’s become a well-respected thought leader on coaching and work-place mentoring. Plus, he has created a coach-training program that has been utilized around the globe.

You can listen to Mitch on his popular weekly podcast called, “DREAM. THINK. DO.” where he inspires people around the world to dream bigger, think better and do more. Mitch proudly lives a “highly-caffeinated” lifestyle in Des Moines, Iowa with his wife and their two sons.

Get ready for a highly-caffeinated, yet totally coherent and even inspiring conversation and find out how to get some traction on those dreams.

• What to do when a great-fit job becomes a bad-fit job
• Why work-life balance is a fallacy
• How to calculate your “leap number”
• The reasons to start/join a mastermind group
• Why offering your service or product online can exponentially impact the number of people you reach and the number of figures in your bank account
• How to test your dreams, experiment, fail, learn, and move ahead
• How to discern when it is the wrong season to pursue a dream
• The ins and outs of self-publishing
• How packaging content/services thoughtfully and sequentially allows you to charge a premium for them
• Why getting from dreaming to doing requires clear goals, and that’s just the beginning

Investment property can be a tremendous source of residual income. Is it better to sign a lease with a long term renter, or should you think about your property as short term lodging offered through services like Airbnb? Questions worth digging into.

On this episode of the Uncommon Life Project Podcast, hosts Phillip Ramsey and Bryan Dewhurst talk with Brett Appleton about going from dabbling to all-in on using investment properties for short term lodging with Airbnb.

Brett Appleton and his wife own 3 properties listed with Airbnb. They went from experimenting with this concept as a newly engaged couple, to purchasing three properties, with plans to expand this as a major source of residual income. Brett talks about what it takes to balance great customer service skills with the ability to confront challenges when they arise, and avoid scammers and other unscrupulous people.

There are pros and cons, and this kind of investment is not for everyone. But the cash flow can be quite healthy with a bit more upfront cost to furnish and maintain. We walk through the numbers with Brett, and they show a lot of upside.

• How to look for the best financing for property purchases
• How Airbnb can be a great introduction to income property ownership
• What you need to know about having strangers constantly in and out of your property
• The upfront costs of providing short term lodging vs. a long term rental
• What to do when lodgers don’t respect your property
• Getting and giving good reviews for short term lodging
• Delivering great customer service from reservation to check-out and beyond
• The tremendous upside of short term lodging cash flow
• Best practices in furnishing a short term lodging property
• Why it is crucial that your spouse is on board with the idea of dedicating a property to short term lodging. This is not a “set it and forget it” source of income.

Everyone wants a fun life and an optimistic outlook. These are the building blocks of the uncommonly good life. What are the roadblocks to this kind of life, and how do we move beyond them? Our podcast guest has some answers.

In Episode 19 of The Uncommon Life Podcast, Phillip and Bryan talk with Paul Long about how to keep fun and optimism front and center in our lives and in our businesses.

Paul is a motivational speaker and consultant who has challenged the corporate landscape for over a decade while engaging with audiences around the globe through his concept of FUNdamism.

With an infectious spirit and unique take on fun in the workplace, Paul has provided memorable experiences through countless engagements including workshops, trade shows, keynotes, and more. He was selected as the Kansas City Royals 2016 Fan of the Year. His shenanigans have been featured in media outlets like ESPN, the Washington Post, and the Wall Street Journal.

Paul’s FUNdamism philosophy is a deliberate approach to fulfillment both in the workplace and at home. His principles are proven to bring a higher level of consciousness, enlightenment, and F.U.N. to your day. While F.U.N. can be defined differently for all individuals, Paul’s core beliefs are based entirely on the following: a Foundation in guiding principles, Understanding others, developing Next steps.

• The principles of FUNdamism: Foundation, Understanding, Next steps
• What to do when your work environment is shaping you in a negative way
• Staying centered and positive after challenging life experiences
• Overcoming the challenge of loneliness as an entrepreneur
• The power of experience as a motivator for all of us
• Using purpose, praise, and progress to develop positive workplace experiences
• The positive power of paintball
• Creating great experiences for ourselves, our employees and our customers

You have an idea that excites you. Maybe you’ve jumped right in and started a business out of it. But there is a lot to consider – what is the end goal? Can I set it up to run when I’m not around? Can I find a way to monetize it after-hours (residual income)?

That’s what this duocast is all about. We’re looking at uncommon ways of looking at traditional business. Like setting up an LLC to lease space from yourself. Or figuring out health care for you and your family while you are pursuing this “crazy dream.” We tackle all those questions and more.

You’ve got that drum beat inside of you; that urge to monetize that idea that’s been grabbing your attention and won’t let go. It is possible. Building your brand, gaining traction, fulfilling your passion – it is all possible. We have some fun and get into some nitty gritty details all in one fascinating conversation.

• Different ways to establish a business as a legal entity
• What to consider before deciding on the legal corporate structure
• How a C Corp differs from an S Corp
• The importance of knowing from the outset what you hope to achieve by being in business
• The right time to incorporate your business
• Two of our favorite books: The E-Myth Revisited, and Cashflow Quadrant
• Finding a process to develop residual income from your business
• Renting space to your own business for cash flow
• Why you should not diversify too soon
• Why a Health Reimbursement Account (HRA) might be a better option than a HSA

Rental property can be an excellent source of residual income. Mobile home parks are an increasingly popular segment of this market. It is also, as we will hear, a great way to leave a legacy for the generations which follow you.

On this episode of the Uncommon Life Project podcast, Bryan and Phillip talk with Chris Ramsey who, with her two sisters, operate a mobile home park in South Sioux City, Nebraska. Chris also happens to be Phillip’s mom, so it’s a lively conversation, to say the least.

You’ll learn about the dynamics of a multi-generational family business and how to make that work.

Chris Ramsey did not expect to get into the mobile home park business – but when her parents passed it on to her and her sisters, they all rose to the occasion and are very happy they did.

Chris has worked in advertising, as a tutor, and in adoption services. She's a singer, songwriter and performer. Her group, the Matney Sisters were chosen by the Smithsonian Institute to represent Iowa during the sesquicentennial celebration, performing on the mall in Washington DC for two and a half weeks.

Chris and her husband of 43 years, Phil, live in Grimes, Iowa. She is a mother to two adult children and Nana to six grandchildren. She's a huge advocate of stepping out in faith, allowing God to work in all things creative.

• How to protect family relationships layered with a business relationship
• The importance of a buy/sell agreement, especially for a multi-generational business
• Creating legacy assets that can benefit and protect generations to come
• Uncommon ways to evaluate the risk of jumping in to a venture
• How to define roles and expectations in any business relationship
• Why many people relish the idea of taking on a new challenge later in life
• Why mobile home parks are becoming an increasingly popular source of residual income
• How to handle business disagreements in an open, honest way
• Giving family members the freedom to get involved or not get involved in the family business

Ideas are powerful. Ideas can sit in your head, or they can change the world. For developing your business and strengthening your financial well-being, how do you take ideas out of your head and get them into the marketplace?

On this episode of the Uncommon Life Project Podcast, hosts Phillip and Bryan talk with Gabriel Glynn – a guy who really knows how to generate an idea and run with it.

Gabriel Glynn is CEO of Makusafe and a serial entrepreneur. Gabriel’s startup journey began over a decade ago. In that time has experienced several successful exits, aka sold his company for a profit. His most recent was the selling of his software company Slash Web Studios in 2015.

Gabe was named 2014 Entrepreneur of the Year at the Iowa Small Business Awards. He was named Alumni of the Year by Des Moines Area Community College and was a finalist for the YPC, young professional of the year in 2013. He has served on many community and non-profit boards and was a charter member of the Greater Des Moines Rotary Club. Gabriel is the creator and host of the Advanced Manufacturing Podcast and has interviewed dozens of manufacturing leaders around the globe, including Jeff Immelt, former CEO of GE Corporation.

Gabriel, his wife Amanda and their two boys live in Ankeny, Iowa.

Gabe has made a literal habit of generating new ideas every day. There’s a lot of great stuff to learn from him. Find out more about Gabe’s work at https://makusafe.com/ and reach out on Twitter @GabrielGlynn

• How to make a habit of curiosity
• The cost and sacrifice of entrepreneurship - go into it with eyes wide open
• The role faith can play in entrepreneurship
• The importance of choosing people you truly want to work with, not just the highest or lowest bidder
• How to find an advisor or mentor who will push you, not just encourage you
• How to find an unpaid sales force, a group who stands to gain by what you are doing and who will spread the word
• What it takes to be a serial entrepreneur (it starts with a curious mind)
• How hosting a podcast can get you on a jet with Jeffrey Immelt
• The importance of coming up for air, spending time with your family, and being human
• Why most product start-ups fail
• How to leverage a source for residual income from the manufacturing space
• How a piece of $30 technology can prevent workplace accidents and death

Loving what you do – helping realize other people’s dreams as well as your own – that’s what a good design/build team does.

On this episode of the Uncommon Life Project Podcast, hosts Phillip and Bryan talk with Jon and Hanna Shiplett. Together, Jon and Hanna own and operate Eden + Gray Design/Build.

Jon is a professionally licensed General Contractor with a background in welding, framing, trim carpentry, and property management.

Hanna is an Iowa State University graduate with a BFA in Interior Design. She worked as a project manager and commercial interior designer for 4 years before becoming her own boss. She is an NCIDQ (licensed) interior designer and before graduation received her LEED ID+C accredited professional a.k.a. professional tree hugger.

Jon + Hanna have a gaggle of children, and enjoy long drives with coffee. Hanna sneaks away from her design desk occasionally to take a ballet class, and Jon relaxes with a good book.

• How working with your spouse can work!
• Gaining skills to support your career
• How to pitch the value of creative services
• Augmenting income with real estate investments
• Keeping priorities straight and having life/work fit together (we didn’t say balance)
• Giving clients all the fine-grain details they need to make informed decisions
• How to create efficiencies so “killing it” is not killing you
• Making lifestyle choices to support your entrepreneurial drive
• How through building and design, your work becomes a part of people’s lives for years to come

That 401k or IRA is fine, but there are many other ways to manage your money for residual income now – not just sometime after retirement.

On this episode of the Uncommon Life Podcast, we dig into the topic of Investments. It’s a fun and info-packed duocast with co-hosts Bryan Dewhurst and Phillip Ramsey.

For many people, investing consists of putting some money aside in a 401k and/or maybe some IRAs. But there can be so much more to your investment picture. Phillip and Bryan talk about ways to invest and save to make an impact in the more immediate future, not just money that is set aside and untouchable until you are 70.

Bryan and Phillip are passionate about helping people learn how to invest wisely, along with 6 other sources of residual income. You’ll learn why pensions are much less prevalent than they were a generation ago, and how today’s employees and entrepreneurs can make the most of their investment dollars.

• The difference between non-qualified and qualified investments
• Why pensions are mostly a thing of the past
• How to plan for the future without tying all your money up in traditional retirement accounts
• The four layers of fees you need to understand when you go to invest
• The difference between a mutual fund and an ETF
• How you may be speculating when you think you are investing
• Why a technical analysis is preferable to a fundamental analysis when choosing stocks
• How to be entrepreneurial and protect assets for the future
• Smart ways to leverage your money when you are younger and when you are older
• What an “engine account” is and how you can use it to generate cash flow