Epic Real Estate Investing - "Dave [Ramsey] is Effin' Stupid!" - Grant Cardone | 689

Episode Date: June 20, 2019

If you want to be wealthy and be in a position to burn Dave Ramsey’s financial wealth, without even missing it, listen to this episode right away! Learn more about your ad choices. Visit megaphone.fm/adchoices

Hey, Rockstar, Matt here. Thanks for listening. I've got a really good show for you today. But what you're going to discover right now is a quick walkthrough on how to buy more discounted real estate through the power of a really good automated lead machine. There are a bunch of benefits to buying discounted real estate this way. First, you're going to identify the right property owners with the right motivation. Second, you'll stir up an intense curiosity for those property owners.

And third, they'll be triggered to act and voluntarily reach out to you, like almost an impulsive reflex. A really good automated lead machine doesn't have to be high tech, doesn't have to be expensive. In fact, some of the best performing automated lead machines hardly cost anything to run at all.

When you come to the Epic Intensive, you're going to notice that I focus on three levers of great automated lead machines. Find, control, and profit. As you can imagine, if you learn how to create a really good automated lead machine, you can probably buy and sell a lot of discounted real estate. And speaking of a really, really, really good automated lead machine,

I want to invite you to a special event coming up. It's the epic intensive lead machine workshop. It's July 18th through the 20th. And at this workshop, it's a three-day live event in Manhattan Beach, California, where together we'll build your own automated lead machine, reveal the art of how to influence sellers and win deals, and pull back the curtain on creative deal structuring. So you can maximize the ROI with every opportunity that crosses your desk.

You'll learn the lead machine building blocks to attract better leads, the language patterns to get more sellers to accept your offers, and how to creatively finance without using your money or your credit. You can register for the Epic Intensive Lead Machine Workshop today for a small, fully refundable seat deposit. But it's really worth 100 payments of that seat deposit. Here's why. First, you'll walk away with your very own automated lead machine that you'll be able to bring back to your market and put to work. This is going to remove the limits to the money that you can make in real estate. and you'll leave with a customized escape the rat race game plan that will show you how to put that money that you make to work

so that it works harder for you than you did for it. And seating, it's limited. I don't have to say that. It is. We sell out every time. And this is going to be the last lead machine workshop that we do before we change it up for next year. So go to epicintensive.com to reserve your seat.

And if you don't absolutely love the epic intensive, your seat deposit will be completely refunded right there on the spot. And you can keep all five of the bonuses that will be. handing out at the door. How's that for fair? But remember, this is the last lead machine workshop, July 18th through the 20th, and seating is limited. So again, go to epicintensive.com, reserve your seat, and I'll see you there. The one golden nugget from this epic intensive today was that I need to continue proactively planning our financial strategy in regards to asset protection. One golden nugget I receive is just more so the encouragement to keep going to

keep using the processes, using the solutions that we have, using the systems that have already been put in place to use them to our advantage. Don't let them just sit there. But move forward, keep moving forward and keep doing what we're doing. Matt and his team and you Mercedes have helped us to jumpstart things, to gain a sense of confidence early on, and learn that it's okay to move fast and it's okay to fail. Dave, as in Dave Ramsey, is effing stupid. Yeah, Grant Cardone, he said it on his most recent podcast episode, episode number 519. I just listened to that on, I think it was on Saturday. And he's not the only one who thinks so either. And I'll tell you why.

This is Terrio Media. But first, if you're really serious about your real estate investing, you might want to check out our free course that I put together, showing you how to buy an invest in real estate with little to no money. It's a free course. In fact, it's better than free. I'll actually pay you to complete the course. And if you'd like to check that out, you can go over to free real estate investing course.com. All the details are there.

And if you like what you see, come on and join us. We're closing deals each and every week for paying them to complete the course each and every week as well. All right. So, yeah, Dave said it. And I used the quote as clickbait. You got me there. But it got you here, didn't it? And it's not the kind of clickbait that you might think, meaning there's some real meat behind this.

And by the way, Grant went on to say that Dave's a cool dude. He admitted that he was feeling a little bit aggressive. But the sentiment is there, and I want to talk about that. You know, a few years ago when I interviewed Robert Kiyosaki, I had asked him, when you do the math, when you really sit down and put it on a spreadsheet, the math of saving cash or creating streams of cash, it's really obvious once you extrapolate that out over time. And what a far better plan and a far faster and more assure, a more certain way to wealth by creating the streams of flow, or excuse me, the streams of cash. And I asked him, well, why do you have people that such the big names that have the biggest platform? Like a Dave Ramsey, like a Susie Orman, like a lot of the conventional financial advisors that you see on TV. Why are they all such big proponents of saving cash and eliminating debt and all that type of stuff?

And Robert went on to say, first he said that Dave was a good friend of his, but he had to say he had to realize who his audience is. It's a middle class audience, right? And a lot of people are not good with money. They're looking to just maintain and sustain. those are just kind of time on or wisdom that keeps people in a nice state of mediocrity. I'd ask them, he goes, well, not everybody wants to be wealthy. I mean, I understand that everybody doesn't want to be wealthy, but people that tune in and listen to financial advice, most of them are there because that's exactly what they want. Grant just said this, and I was like, wow, it shocked me, probably just like it shocked you.

And, you know, Robert Kiyosaki and Grant tend to agree. So when should you buy your home, though? Right. That's what he was saying why David was stupid is because he tells you to avoid debt on buying a house. Only buy a house if you are going to pay cash for it. It's really bad advice if you have aspirations to be wealthy. If you want to be middle class, you want to be safe, maybe you consider that if it makes you feel good. And I think that's probably the best reason to buy a house is just because it feels good. It feels like a good purchase.

It's something that you own. You come home to and you have this pride of ownership. That's good. But Dave doesn't want you to borrow money to do it. On the other side, if you want to be wealthy, definitely you do want to borrow money to do that if you do it at all. Grant is hard and fast as do not buy your home. Robert Kiyosaki calls your home a liability, something that takes money out of your pocket. And I'm happy to align myself when those thoughts.

You want to borrow money, though, if it's going to make you money. That's what they both agree. But there are two caveats when it comes down to buying your home. And I think these are good things to consider. Because when you come from the context of, say, a grant, Cardone's world where he's dealing with millions and millions and millions of dollars, the average person can't really relate to that, right? Same thing with Robert Kiyosaki.

They're very wealthy and they think very differently. And I would agree that if you want to be wealthy, you want to adopt their thoughts. But most people just aren't there yet and can't really grasp the context of the types of things that they talk about. So I think there are two caveats to buying your home. I absolutely believe it's a liability and it's a terrible investment. It's a terrible investment. But there are two of the caveats.

where I was like, eh, okay, that makes sense. First one is if it's cheaper to own than it is to rent. For example, I live in Los Angeles and pretty much on both coast. If you go to New York, you go to Miami, San Francisco, it's much cheaper to rent than it is to own. And if you're playing this game of how to escape the rat race, you're going to be really focused on getting your passive income to exceed your expenses. If owning your home is a giant expense, it's only going to keep you trapped in that rat race. It's going to keep you financially dependent on whatever it is that you're doing for your work. So that's one caveat.

And I mean, if you go to the Midwest and the South, I mean, you can own for a lot less than what you can rent there. You have to live somewhere. You have to pay for your roof. So just, you know, do the math. And whichever cost you less on a monthly basis, do that. Next is if it's part of your strategy, if you have no real intent to be a full-time real estate investor or start a full-time real estate investing business, you like what you do for a living. You have a good career and you want to put real estate, make real estate as part of your investment strategy. there is one strategy that I actually like when it comes to buying a house, regardless of which market

you do live in, regardless of how much it costs to live there. And that's if by using and taking advantage of an FHA loan, where you can get in for a 3% down and you go ahead and you move in, you live there. And after you live there for two years, then you go and you can move up and exercise another FHA loan. And do that as many times as you can every two or three years. That can be a really good investment strategy, as long as you're holding on to the previous properties and you're turning those into rentals and that those rentals cash flow. That can be a really good strategy. Nice, passive, nice and easy. In 10 years, if you did that four or five times, you know, you would have accomplished in those 10 years what, not I say, it's actually per the Department

of Health and Human Services, what they say 95% of today's 65-year-olds are completely unable to accomplish. And that would be creating a passive income of $40,000 a year. hitting you right there at the median household income. So that's another way. I'm okay with that. At the end of the day, your primary residence is a terrible investment strategy. I heard Grant say it, and he got really aggressive and loud with it. And I had that conversation with Robert Kiyosaki a few years ago.

And, you know, he's no, he has kept it no secret that he thinks your home is a liability also. If your home is a part of your investment strategy, that's fine. Just don't make it your primary one. That's where a lot of people think that's the first big investment that they should make in life, buying their primary residence. nothing wrong with buying it. Just don't maybe move it down a few notches on the priority list. We've talked about that a lot here.

I just was really amused when I heard how aggressive that Grant had come over his podcast and said that. At the end of the day, at the end of the thing, he said, Grant's a good dude. I'm just feeling a little aggressive today. So one thing he did say, he said, Dave would rather ride a bike to work than make payments on an automobile. He also said, I could burn Dave's financial wealth and not even miss it. which I thought was interesting. The last thing he said was, look at Apple, Apple Computer. They've got more cash than anybody in the world.

I forget what the number was. It's a big number. And even they, when they're going to grow their business and make their investments, they're borrowing it. They borrowed it from China. So take those heads of advice. If you want to be nice and safe and just get what the middle class has got, maybe Susie Ormond, Dave Ramsey, are the mentors for you.

If you want to be wealthy and be in a position to where you could burn Dave's financial wealth and you wouldn't even miss it, then maybe you want to kind of shift your focus over to somebody else that has that type of wealth and listen to what they say. All righty. So if you liked what you heard there and you want to get started in real estate, I can't think of a better place to do it, particularly if you're a little low on funds. If you like to learn how to do this business with little to no money, head on over to free real estate investing course.com. It's exactly what it sounds like. free real estate investing course and it's better than free. It's the course that will actually

pay you to complete it. The motto of today is, or the moral of the story today is to choose your mentors wisely. Look at the people that have what you have or have what you want, that's got what you want and do what they do. And if you do what they do in the manner that they do it, there's a good chance that you can produce the similar result for yourself. All right. So God blessed to your success. I'm Matt Terrio. Living the Dream. Take care. Bye. This podcast is a part of the C-suite Radio Network. For more top business podcasts, visit c-sweetradio.com.