Epic Real Estate Investing - Mastermind Groups, Jason Medley and Rich Dad's Robert Kiyosaki | Episode 142
Episode Date: January 26, 2015Today Matt is interviewing the founder of his personal mastermind group, Jason Medley. Jason has been involved in many aspects of real estate, including mortgage brokering, short sales, transactiona...l funding, hard money lending, flipping, and now masterminding. Listen in as the duo discuss how the benefits of carefully selecting your environment and engaging in a mastermind-type group. Enjoy! ------- The free course is new and improved! To access to the two fastest and easiest strategies to a paycheck in real estate, go to FreeRealEstateInvestingCourse.com or text “FreeCourse” to 55678. What interests you most? E ducation P roperties I ncome C oaching Learn more about your ad choices. Visit megaphone.fm/adchoices
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Broadcasting from Terrio Studios in Glendale, California.
It's time for Epic Real Estate Investing with Matt Terrio.
Yeah.
Hello.
Hello.
And welcome.
Welcome to Epic Real Estate Investing, the place where I show people how to escape the rat race using real estate.
Got a great, great show for you today.
Before I get started, I just want to extend to you another thank you.
Thank you for your support of the new podcast, turnkey real estate investing.
Because this past week, it hit number one, new and noteworthy in the business section over at iTunes and actually stayed there for several days.
It's still kind of hovering around there in the top three or five.
But it was for several days, it was right there ahead of the big names, the big hitters in podcasting like Pat Flynn and John Lee Dumas, their new podcasts.
And that is all a credit to you and your support of turnkey real estate investing that show.
So thank you very much.
Last weekend's Grub and Grow Rich event in San Francisco was a massive success.
And when I say massive, I mean, I got to meet past clients for the first time.
That's always fun.
That's worth the price of admission alone.
I got to meet current podcast listeners.
And I got to meet the important people that they brought with them.
So I got to meet the family and friends of podcast listeners.
And it's just awesome.
I love these events.
And by the way, there's nothing for sale at these events.
That was kind of disappointed some people.
You know, one particular person tried to call me out in front of the group and from the back of the room.
And she asked, how much is this going to cost me?
And I got to tell you, it caught me off guard a little bit.
I wasn't expecting that.
And I had a very long answer.
But in a nutshell, the answer is nothing.
There's nothing for sale here.
It's not going to cost you anything.
There's nothing to buy at these events.
I lead these events from a place of real estate is a people business.
I understand that.
Every piece of real estate that you buy or sell will be from or to another person.
So I know that if I want to buy or sell real estate, it's in my best interest to meet new people
and continue to interact with those people.
And, you know, after we've had all we can eat and all we can drink and I've answered
all of the real estate questions that are there in the room, I know one of three things
are going to happen.
Okay, one of three things.
And this is why I go.
This is why I hold these events.
Either one, I'll get a few new clients.
I'm in the business of real estate, so I'll get a few new clients.
And or two, I'll get a few new investor partners.
I'm constantly buying new stuff and building up my own portfolio.
I've got the new hedge fund and maybe I find a new investor or partner there.
And or three, I'll get a new friend.
I'll get a few new friends.
And regardless of where each guest falls in those three categories, even if they're all just
new friends, all are 100% okay with me.
It's a people business.
And I know what's possible for me and what's possible for you and our futures.
It lives inside of groups of people, interacting with groups of people.
And that can be a small group.
It can be a small group of just two or three people that you get together with on a
regular basis and have coffee.
It can be medium-sized groups like these grub and grow-rich events of just 10 to 20 people
and, you know, just kind of breaking bread and talk and shop together.
or can exist in large groups of 50 or more like your Rhea club meetings or a mastermind group
or even entire cities or even entire, you know, states to some extent.
What's possible for you and your future lives within your positive interaction with people.
And at our grub and grow rich events, that opportunity is as much available for you as it is
for me because people in attendance end up doing business together.
They end up being friends.
And I'm not even involved in that.
Our next event is February, February 11th in Laguna Beach, Laguna Beach, California.
We're going to be doing all the Grub and Grow Rich
until the, all the Grub and Grow Rich events on the West Coast,
in our warmer climates until the wind blows over,
but then we'll be moving our way east.
So if you want to attend, but, you know,
why do you always do them in California?
It's just because it's warm here right now.
We're coming east, so be patient.
But our next event is February 11th in Laguna Beach.
So go to Grub and Grow Rich.com.
Grub and Growrich.com for the deep.
details. And something new that I'm doing this year. This past event in San Francisco was the very
first time that I tried it. And that is holding a meeting before the meeting, quote unquote,
a mastermind meeting for the purpose of advancing the business of those in attendance. It's a
special meeting to talk about your actual specific real estate investing business. And currently,
my one-on-one coaching clients, they're all members. If you'd like to attend as a guest,
you may do that. And the details for that are also at grub and growlrich.com. And so we're always going to be
having a meeting before the meeting. And the bigger that that mastermind meeting group gets,
the bigger that those meetings will be. I mean, in a time span. Right now, it's just a two-hour
meeting before the meeting. And, you know, when we start adding more and more people to that,
it's going to be three hours, four hours, five hours. It might even turn into a weekend eventually.
I plan on extending membership opportunities to you in the very near future to become a permanent
member. And I actually had plans to roll that out this past December, but I'm having a hell of a time,
trying to figure out how to explain what a mastermind group is in a way that you or anyone that
would stand to benefit from a mastermind group would understand why they should get involved,
why they must join.
So I'm still kind of at a loss on how to do that.
So I haven't really shared it yet.
I'm making some progress, but I'm not quite there yet.
And as I just can't quite articulate the benefits that I've received from the mastermind group
that I belong to.
But obviously I got plenty out of it because I just renewed.
my membership this year and it wasn't even a consideration as to whether I should or not.
It was a no-brainer.
I mean, I've had some of my mastermind group members right here on this show, many of them that
you've heard their names, Joe McCall, Jack Bosch, Sean Terry, Todd Toback, all of which
are the real deal, especially when it comes to this new age of gurus, I guess.
For lack of a better word, I'll call this new age of gurus.
Educators, people that teach, people that coach.
And here's what I mean.
We all make a lot more money from the real estate that we do than the education and coaching that we sell.
You know, looking back at your more recognizable names in the real estate guru space for the last, I don't know, several decades, I'm not sure if you can say that.
Just as I've seen a little bit behind the scenes, I'm not sure that you can say that they make more money in real estate than they do from selling their products.
That's just been my observation.
And that's one thing that we all have in common in this group is that we're constantly trying to combat that the way that the general population has been conditioned that anyone that teaches real estate investing is some sort of scam artist or what they're selling is just too good to be true and it's not going to work.
And that's really unfortunate for this particular group of people that I interact with inside of my mastermind group because those guys are rock stars when it comes to real estate investing.
Yes, they're rock stars as educators.
They're rock stars as coaches, but they're bigger rock stars.
They're doing a whole lot more in their real estate investing business than they are in their
education business.
So we all meet actually in this mastermind group for the purpose of not becoming better teachers
or marketers, but we're there to become more successful real estate investors.
And what blew me away the first time that I attended this group was noticing that most
of the people that I just mentioned, including myself, we were all mostly, mostly small fish
in this pond.
You know, the 60 or 70 members, there are maybe a half a dozen that teach as well as do.
But the other 60 or so, they are nothing but doers.
They don't teach at all.
You'll never hear of them.
They don't coach.
You wouldn't know them if they passed you on the street.
And that's why I had to renew.
Because that's where my aspirations are and becoming a much more successful real estate investor.
I mean, I own 240 plus rental units.
And I fix and flip or wholesale more than 100 properties a year.
year. And I often feel inadequate in this group when I, when I attend my mastermind meetings.
So if you're doing well in your investing business already and you aspire to do more, perhaps this
is something you'd want to look into. And I'd be happy to make the introduction. It ain't cheap,
though. I'm going to warn you. It ain't cheap. And if you're not ready, that's okay. You still should
be looking into some sort of group that you can get involved with with like-minded people that are on the
same road on the same journey as you. Perhaps joining the epic inner circle mastermind group,
once I have a way in place for you to join, maybe that would be a good stepping stone. I don't know.
I still need to figure out how to present it to you so that you would see the value. It can
offer you to you and your business. So what I decided to do today is invite the organizer,
the leader of my mastermind group, onto the show. And maybe he can articulate the benefits of
how belonging to a quality mastermind group can significantly propel your business forward.
and not just propel your business forward,
but in a way that you skip over,
you skip right over challenges and roadblocks
that are essentially eminent
that are very common to building a successful
real estate investing business.
And then after,
I'm going to go ahead and I'm going to rerun my interview
with Robert Kiyosaki.
I aired the video this past Financial Freedom Friday,
this last Friday,
but I know some of you don't like videos.
I've heard that from you via email,
you know, just kind of depending on your audio device of choice,
sometimes it's a bit of a pain to listen to and watch a video.
So for your convenience, I'm going to run the audio portion of the interview at the end of this
episode.
So if you've already watched it on Friday, it's the exact same interview, just the audio.
But if you hang out until the end, I'm going to share with you how I'm giving out 50 copies
of Robert Kiyosaki's new book, Second Chance, and how you can get a copy.
So up next, a very accomplished investor in his own right and leader of a mastermind group
that hosts upwards of 60 of the most successful real estate investors in the entire country,
Mr. Jason Medley, and we'll talk to him in 30 seconds right after this.
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less secrets. Find motivated sellers ASAP.com. Okay, on today's show, I'm joined by Mr. Jason.
Medley, Jason, welcome to Epic Real Estate Investing. Mr. Terry, I'm honored to be here. Looking forward
to having some fun today. Yeah, always. It's always fun with you, so I'm looking forward to the same.
Let's get started.
Just kind of tell us how you got started in real estate.
Just give us a background and what led you into real estate.
To be honest, I got started in real estate.
2015, back in 2000, I had been a corporate guy, really from the time I graduated college until I was, I guess, 28, 29 years old.
And I got sick and really, really, really sick.
My health was in question.
and I had to actually, I was sick to the point where I had to take short-term disability.
I was really, really kind of fighting for my life and had to take short-term disability.
And as I began to mend, if you will, that short-term disability ran out.
It's called short-term for a reason.
So that short-term disability ran out, and I basically had a choice.
I had to go back to work or I had to figure something out.
So I went back to work, the corporate world, and they were ready for me to sprint,
and I was barely able to crawl.
It just was physically unable to do it.
And I was actually refinancing my home at the time,
and this young buck, similar to my age at the time in his mid-20s,
came to get my documents for my refinance,
and he pulled up in a brand-new, convertible, black-on,
black horse 9-11
Target.
And
I said, how did you
get that?
And he said, doing this?
And I said,
well, are you guys hired?
And he said,
I don't know if we are, but I can probably get a job
and well-connected in that business.
And so,
before you know it,
you know,
I had been reduced down to a point where,
you know,
when you're helping question money,
it's kind of, it's funny
given I just talked about Porsche, but
you don't really care.
You're, my
aversion to risk was, it's like, hey, I just
survived almost dying.
Anything else doesn't seem too risky.
So let's try something, too.
And I left the corporate world,
and in Florida at the time
you had to work for a year under someone else before you could open
your own brokerage, had always wanted to
be an entrepreneur or
play by my own rules per se.
And so started a more,
I should say work for a gentleman for a year, as soon as that year was up, got my own mortgage broker's license,
and got into the game that way and have been in real estate finance since 2000, so I'm going on 15 years.
I have done just about, you know, so many different facets in this to real estate, so I hesitate to say this,
but I've done a lot of different things.
I had the brokerage for, I think, seven years.
I've done short sales.
I have had a pretty sizable transactional funding company, had flipped houses, and, you know, lent hard money.
And now my primary gig, if you will, is running a mastermind called the collective genius.
So that is my story in a nutshell, if you will.
That's how it all started, how the magic happened.
I can't believe I've never, for as long as we've known each other now that and as many times we've talked.
I've never even asked that.
How selfish of me.
It's funny that we just had dinner and had some pretty personal conversations just a month ago.
And you shared some things with me and I shared some things with you.
But it's funny, I didn't really get down to that pretty gritty.
Yeah.
Right.
Yeah.
But that was a very defining moment in my life.
You know, it was just like, you know, like I said, after something like that happens,
I can remember praying, just let me out of these four walls.
Because I spent a very, very long period of time over two years of hospital, and I was just like, I was like, I'm going to get out here and set the world on fire.
Because, like I said, I wasn't married.
I had kids yet.
My risk tolerance was very high after gaining my health back.
You know, I can survive that.
I can handle anything.
Is it too personal of a question to ask you what you're ailed with?
No, I had a digestive disorder called ulcerative colitis.
It can be
People can get out
You know, oh, yuck
You know, but yeah, that's the reality of it
I was
I struggled
Pretty badly
I fought it for about two years
And had to have a
In and out of the hospital for two years
A lot
Like months and months and months
I normally walk around about
180, 1805 pounds
And
I got down into the low one teens
Oh wow
Yeah, yeah
I remember laying in the bed trying to sleep on my side, and my knees would kind of clack together because I was so skinny.
But, you know, I've been blessed with a second chance.
I'm back.
I'm healthy.
I'm 42 years old right now, and I could probably, I give some of the younger guys, my friends at the gym a hard way to go sometimes because I tell them, don't let the old man creep up on you now.
So, you know, take good care of myself, still feel very young.
Like I said, a second chance and, you know, have, as far as I know, have beaten that and feel good and am healthy and have been blessed in many, many ways since being given that second chance.
Super.
Well, thank God you for here still because you've had quite an impact on my life in just 12 months.
And I'm grateful for our path crossing.
As I am you, my friend.
Awesome. Thank you.
Okay, so, you know, you've gone through kind of, you went through everything,
depending on what the market was thrown at you at the time.
You know, you were a broker, then you went to short sales, the transactional funding,
you're flipping houses and your hard money, and you still do a little bit of some of that.
But your big deal right now is running a mastermind.
So how did that come to fruition?
Well, you know, the reality of it, it started for one reason, and it's flourished for a
another. I was in, gosh, I don't know, maybe five years ago, I was in another mastermind.
It was the first mastermind I ever belonged to, and I was kind of an educator, kind of like
yourself, kind of like what we're doing now. Podcasts weren't the big thing back then, but,
you know, webinars and growing lists and all that kind of stuff were. And I was in a mastermind,
and I was, you know, I can remember a close friend of mine.
Let's pause for just a second, Jason.
As far as, just, what's your definition of a mastermind?
Because I have a really hard time of defining it verbally.
I mean, I know what it is, but how do you describe that to somebody?
What is a mastermind?
Well, it makes you feel any better, do it?
I do it for a living, and when people ask me what I do,
I've just gotten to where I'm in the real thing.
The reality of it is, is a mastermind is,
And the first thing I'd like to say before I define it is, it is a term that is often overused and what I would consider abused.
A lot of people use that term and abuse that term because they get some folks together,
and there's usually one person who is the leader of that group, and the burden of progress for that group of folks falls on that individual.
And to me, that is quite the exact opposite of what a mastermind truly is.
A real mastermind is when – and it's usually – you know, when you get together with folks that are very talented,
who are successful, who are driven, and we get together and we share ideas with one another,
hey, what are you doing right now that is helping you be successful?
Will you share that with me so I can go put it to work?
And by the way, now that you've told me what you're doing to be successful,
what are you, what challenges has that success creator?
What struggles are you having?
And how can the group as a unit come together to help you overcome those challenges?
And I think a more practical way to answer that,
which kind of gives some examples.
I mean, you're in real estate space.
You're in my mastermind, and I'm sure your listeners, obviously, are familiar with real estate.
And so one of the ways, you know, that, for example, somebody could, you know, come into CG.
And, you know, like, for example, I've got a gentleman who, his name is Ken, Ken Gorsini.
He's invested money with another one of my members.
Mike, Mike's like out of New York.
Well, Mike turned around because Mike's a lender.
Mike then takes that money and lends it to folks in CG who are rehabbers.
Some of those folks in CG who are rehabbers, their business is growing because they've been introduced to hedge funds who are buying deals from them.
And they've been introduced to those hedge funds from other members.
And so really, it's one of a group of folks come together, and they're highly connected.
and they basically help each other get to the next level in their business through those connections,
through sharing their systems, their strategies, their ideas.
And because typically when you reach a certain level in business, it's difficult to share,
and don't take this wrong way.
It's certainly not meant to come across condescending.
But when you're one of the quote-unquote bigger fish in your marketplace,
it's difficult to share your challenges or your struggles with other.
people because, you know, for lack of a better term, the smaller fish don't have the same
problems or challenges.
Right.
So we kind of stick the, yeah, we kind of stick a bunch of big fish in a bowl and everybody
helps each other.
You know, hey, you're struggling with that, Matt.
Don't worry about it too.
I've been there, done it, licked it three years ago, you know, got it systematized,
and remove myself from it, and I'll just basically give you everything you need.
Don't worry about it.
I got you covered, right?
Got the black eye.
Fixed it.
I'm good.
I'm going to help you.
And so something that may take you, you know, a year to overcome, maybe you get that kicked in 60 days or two months because someone is going to guide you and hold you by the hand or whatever it may be.
And so, you know, and the other thing that I'll share, which to me is really critical in defining a mastermind is the burden of content is spread equally among the members because they are.
high-level individuals. I lead the mastermind, the collected genius, but I, it's not that I don't share content or add value, but it's probably a half of percent of the 100 percent, because that content, that value those system, those strategies, those problems being solved, that's done by the existing members, folks like Matt, right? They all help each other. And so, to me, that's key, because a lot of times when that word is used and abused,
It's not really a mastermind.
You can't get a ton of people who've never flipped a house in a room together with one guy who flipped a ton and expect those individuals to help one another.
Maybe the leader can help them, but the folks who've never flipped a house are probably not going to help each other.
And so that's, you know, that was long-winded, wasn't I'm sorry.
I'm looking for a two-sentence definition of this, and I thought you'd be the perfect one to give it to me.
But you've got several sentences.
Well, I mean, I can do it, but you didn't tell me that before I started flapping my gums now.
No, I like you.
It's very descriptive in it, and I think that helps a lot.
So let's go back.
You were a part of a mastermind group and what?
Say it again?
Oh, back from where I cut you off.
You were part of a mastermind group, and then you got the idea.
Yeah, I was part of a mastermind group.
This was like five years ago, five, six years ago.
and a close friend of mine, who I was there with, said,
why don't you do this?
Because I had a funding business at the time, a transactional funding business at the time,
and I was very connected to, one, a lot of talented investors.
I knew that because I knew they were coming to us repetitively for money,
which means they were flipping a lot of houses or whatever it may be.
And I had grown the business by being connected through a lot of educators,
people who taught folks how to flip.
and I would basically say, you teach them, I'll fund them, and so I would go to a lot of their events and their seminars and so forth.
And so I had just gotten to be at kind of a blessed place as far as being well-connected in my space.
And that's usually what it takes to lead a good mastermind, is being well-connected.
And so, you know, I said, I'm going to do it.
And you know what's funny, too, now that you're asking me about this, I mean, it's neat to say,
see how an idea moves from an idea into a thought into something that's written into something
that's actually manifested.
When I moved into the house I'm in right now, maybe about a year ago, I found the notepad,
you know, just old yellow notepad from like five years ago where I had written down
the first date I was going to have it, how I was going to market for it, all that.
And it was really kind of neat to see kind of a moment of your life flash before you.
Like, wow.
That moment in time was when I said, hey, I'm going to go, I'm going to try this.
I'm going to go do this, right?
And here we are.
Here we are five years later.
That's awesome.
So those five years, collective genius has been in existence?
Yeah.
Yeah, we're right at, I think March will be five years.
Got it.
Not too much.
And how many members?
Right now, I think I'm about at 87.
And, you know, for the first couple of years, it was really kind of a side project for me.
I was very consumed with the funding business, and I didn't really see the potential it had, nor had I found, if you will, a passion for it.
And as that business began to dissipate, the funding business, because, you know, if you've been in real estate long enough, you know, things change.
daily
um things go yeah daily
uh they go through cycles
um
that that niche business began to dissipating
so I took my foot off the gas
to that and put it on the gas of the collective genius
and um at the time
I can be honest with you when your main
business your core business begins to gas
it can be a little bit scary
even if you have other additional sources of income
um but it has truly turned out to be
uh a blessing for me
because I've seen, one, how this business enables me to have an impact in so many different ways,
not just professionally, which, you know, it's obviously a professional, quote-unquote,
business-oriented organization, but not just professionally, but, you know, mentally, spiritually, physically,
and a lot of different facets, how it's enabled me to impact a lot of people's lives.
And in addition, as a business model, it's tough to be.
but again until I got focused on it
and put my heart behind it I didn't
necessarily see all of that
and initially was concerned
oh gosh my core but it's really turned out to be
a blessing if anything that
this is my baby now
yeah a blessing to you and blessing to many others
87 of them I can think of for sure
when this is the
your group is the first you know
organized structured group that
that I've ever belonged to.
But I have been involved in other, I don't know,
if you call sessions or weekends or retreats with,
you know,
a lot of smart people,
a lot of successful people.
And,
you know,
I'm always going in,
expecting to get one thing.
And I walk out getting something so much better that was just so unexpected.
And one thing I wanted to ask you is,
you know,
you went into creating collective genius with certain expectation,
certain goals.
What's something that's,
that you've gotten out of there that just was so much bigger
than what you originally planned to get for yourself?
Oh, gosh.
Immediately the first thing that comes into my mind is that I can promise you
that my financial future, my retirement, per se,
will look totally and completely different
because of what I have taken away from some of the members of the collective genius.
And, you know, there's a gentleman, in fact, I think that is Jeff Watson,
close friend of mine, I remember the collect the genius for several years.
And, you know, for a while, I was so busy about making, so busy trying to make money,
I wasn't focused on keeping it.
And one of the things that I can tell anybody who's listening is that once you reach a certain level,
I would even write this down, because I probably had to hear this for two years before I embraced it, right?
And I missed those two years, unfortunately.
But with that said, hope that you can take from this and not make that same mistake is when you reach a certain level where you're making a certain amount of money, you have to spend as much time focusing on how to keep it as you do making.
And Jeff Watson began to tell me that, and that's through the proper type of investing, the proper types of tax strategies.
And he used to be in my ear constantly, and I was like, oh, yeah, yeah, yeah, whatever.
I'm just, you know, make it, make it, make it, make it.
And then when you figure out at a certain level, the government becomes your business partner.
Right.
Yeah, you get a new business partner.
I started to pay attention.
And I can tell you when I look at where I'm at right now, and based upon what I learned from this group,
where I will be in 15 to 20 years by keeping my nose to the stone and following the strategy
that I have,
it will be entirely different
if I have been left to my own vices,
if you will.
And that's just one of many, many, many things.
If you ask me for one.
Okay, give me a second one.
And I have a, there's a method to my madness right now,
but give me a second one.
Sure, sure.
This group has helped me realize that, you know,
and I got my mind.
my butt kicked back in 06-07, you know, had to start from scratch and have been very blessed to be really, have been very blessed to rebuild.
But with that said, this group has helped.
And again, it's something you hear, but sometimes you have to be knocked in the head with it.
And this is a very vague general type.
But this group has helped me understand that I need to be a master marketer.
My business is a conduit, but at the end of the day, I'm a, I have to be a marketer at heart.
Whether, you know, I got my butt kicked because I wasn't a good marketer.
And I wasn't also very financially savvy.
But, and so it is constantly made me aware that I have to become an intelligent,
dude, you saw the video invitation that I gave out at,
at CG, right? Like that, I probably would have never put the efforts and energies into that
if it weren't for this group, if it weren't for the people in the group, right? I got that idea
from someone in the group. So it had helped me, that, that dollar amount is probably not
quantifiable in truly embracing the fact that, you know, great, and I'll get here's how the best
way I could describe it, right?
Mm-hmm.
And this is another perfect example.
Through that marketing, I've come to understand positioning.
And let's say, let's go back to three years.
I had a similar product with the similar caliber of real estate investor in it.
My mastermind was still great, still awesome, high caliber folks, as it is today.
However, I used to, okay, I used to do, um,
pool marketing, right? I would pursue my customers. You've got to come check out the
collective genius. You've got to come check out. It's going to change your business. I'm going
to put you in a room with the brightest, most talented investors from across the country.
It'll change your business, blah, blah, blah. You got to, you know, I was pulling instead of
positioning from a place where I was more or less pushing. And what that means is, I don't do that
anymore. I've moved into a place where someone has to qualify in order to come. They have to go through
an application process. And I don't only tell them what I'm going to help them with, but they have to
tell me what they're going to bring to the table. And making that shift from a marketing standpoint
has changed my life. There's absolutely no doubt about it. And that's applicable to matter
or what space you're in, whether it's real estate or whatever.
You know, and we can get granular if you want to talk about, you know, deals and stuff like that.
But I'm, you know, we're having a high-level conversation.
Sure.
I'm trying to keep it high level.
Sure.
And the reason I ask that question, I asked to, you know, and let's give me a second one,
is because I think that's one of the better ways to describe the benefits that come out of a mastermind
because they're not always tangible.
You know, you get the tangible things.
you get an additional business partner or a couple of new clients or, you know, you get a tip that saves you money in your business. You get that. That's, that's going to happen. But the bigger things that you don't expect to come out of when, you know, a bunch of like-minded folks that are smart and successful get together, you know, that's because I'm getting ready to, I wanted to, and I'm also asking for somewhat of a self-serving reason as well, is I'm going to put that kind of structure inside of my academy. We're traveling all over the country in 2000.
2015 doing our property tours for cash flow savvy.
We're doing our grub and grow rich events that the night before was kind of a cocktail party where we talk real estate and eat and drink be merry.
And what I want to what I'm putting in place this year is kind of a meeting before the meeting.
And that's going to be open to my my coaching clients, but I also want to open it up to some other academy members that, you know, that are a little bit more further along in their business.
And I wasn't just, I'm just kind of stuck on how I share this with people, how I explain.
what it is and how I, for all intents and purposes, promote it, you know?
Yeah.
Well, hey, let me try to help with that.
When you're in business, especially when you're getting started, you can come, you can
be in a place where you feel that you have to know everything.
And how do you do that, right?
It's overwhelming.
And the beautiful part about a mastermind or surrounding yourself with other people who
are playing at a high level, who are talented, who are skilled, who are skilled,
who are skilled, who are intelligence, who are driven,
is that you don't need to know everything if you know people that do.
And, you know, that's the way that if you're trying to describe it to people,
you know, is how I would describe it.
It's sometimes, you know, if you're looking to get started in this business
or take things to the next level, it can be daunting in regards to how do I do that?
What's the business structure?
How do I pay my salespeople?
If I want to go into expand it to a new market that's two hours away, how do I rehab houses two hours away?
If I don't live there, like it can be a daunting, you know, like how do I do?
And the beautiful part about it is when you surround yourself with other experts, it becomes one far more simple.
And the process of growth and success is expedited exponentially.
I mean, you know, I'll give you a perfect example, right?
We can get granular on my side, right?
We've talked about some of the higher-level things, my financial future, that kind of da-da-da-da-da.
But a perfect example for me would be we were talking, and this may not resonate with folks because they haven't seen it, but I had created a marketing piece.
And Matt Mattis saw this at the last mastermind we were at.
I created a marketing piece.
And it's a very high-level glossy invitation inside of it.
got a five-inch LCD screen, and when you open that invitation, my message begins to play.
That piece was given to me or shown to me by one of my mastermind members.
The funnel in which that video tells you to go through was created because I saw another one of my members.
His funnel was basically like that.
I should say he hired a consultant who built a funnel that was performing immaculately.
so I wouldn't hire the same consultant.
Again, it's those connections.
I mean, everything about that piece, Matt, you saw.
I'd love to claim the brilliance behind it, but nothing of it was original on my part.
You know?
Right.
But it did make you look brilliant, absolutely.
Yeah, and it's going to, and it's crushing right now.
The pieces, and I didn't come up with any of it.
None of it was my idea.
I mean, I had to execute.
Obviously, I had to implement, make it happen, and it was, there's some blood,
sweat and tears behind it, but my point in being
is that every piece of it, every facet
of it, the brochure
itself, shown to me by a member, the design
on the brochure,
a designer that another collective
genius member uses, the funnel
that the brochure drives those
people into,
replicated by a consultant that I had hired
because another one of my members,
all of it was made
possible
because of the
connections and the, hey,
Jason, let me help you with that.
Let me help you with this.
Oh, by the way, when I did it, I had this challenge.
I don't want you to have that same problem, so let me tell you about what happened, right?
There's nothing like an MDM.
Think and grow rich.
I mean, if you haven't read that book, you should.
The study of the most successful titans in the history of the United States of America.
And that study revealed one most common denominator for the success of those titans,
and that is that they had a mastermind group.
Right.
That's simple.
Chapter 13.
Yeah.
I mean, it is that simple.
Mm-hmm.
Yeah, go read it.
I encourage anybody who's listening to go read that.
That was the common denominator.
All of those titans, the Rockefellers, the chase, all of them, what's the biggest,
thing, the most important factor that's helped you be successful?
And that is they had a mastermind of other highly talented,
of individuals that help them with their business.
Right.
Yeah.
Yeah.
And as you're listening right now, Jason is talking about, more from his mastermind of what he's
gotten out of it, because that's what I asked him.
And he's talking about the marketing perspective and the ideas that come from there.
But it has also translated, I mean, it's a real estate investor's mastermind.
So he's coming from a marketing perspective.
And one of the things that I learned out of that is that, you know, we are not real estate
as investors.
We are not so much focused on how to make money and how to keep.
That's the easy part.
The difficult part is understanding that the foundation of your business is lead generation.
And to generate high quality leads, that begins with the high level aptitude for marketing and good systems in place.
So that's where the marketing, I just kind of want to bring it back to a real estate conversation because a lot of people might be, you know, well, I don't have a runner mastermind.
So I don't need this five inch LCD screen thing.
But the point is, is the idea that that came from there.
And those, so many of those ideas, I mean, we've totally transformed our business.
We're in the midst of doing it this very second and we're almost complete.
And my whole business now is going to be so much easier and smoother because of the implementation of Podio.
I mean, there's some absolute wizards that make Podio do stuff that I don't even know if Podio knows it.
It does.
And I've gotten all of those ideas from there.
I got one tweak on my, just, this was my very first meeting.
I think the very first or second person that I saw stand up and kind of share what they do was one little tweak to my HUD statement allowed me to hire somebody to take care of all of my paperwork, all of my transactions, totally compensate them and carve out an extra little spot of profit for myself.
That right there on my very first meeting, that was like, okay, I'm in.
And it goes on and on and on.
And, you know, those types of things, you just never know what you're going to get.
But this is what I've found is that you typically get something much bigger and better than what you actually went in for.
It exceeds your expectations because, you know, if you were expecting it or if you thought of it, then you might not need the mastermind.
The point is that these bigger and greater ideas come from a collective group of masterminds, if that makes sense.
Yeah, absolutely.
And it's the thing that I would drive home to is that, you know, we're talking a lot about business and marketing and real estate.
the reality of it is, is that a good mastermind, if run by a solid human being, is going to give you so much more than a business perspective.
You know, growth is not always measured in more.
We got guys, you know, Matt, like just like what Matt just said, he has been focusing on simplifying his business.
Who cares if you make a dollar or $10 million if you don't have the time to live.
your life and enjoy it, right? So it's not just about making money. It's about making that money
to serve you and ensuring that you have enough time, personal time, to enjoy it. And so what I'm
getting at is that, you know, you may want to set professional goals, but a mastermind will also
help you set personal boundaries. So you're not sacrificing your entire life to make.
make a certain amount of money.
Because if you work in 12, 14 hours a day, who cares?
You don't, it doesn't matter if you're making $10 or $10 million.
You don't have time to spend it.
Right.
Right.
I enjoy it.
You know, one of the, one of the, that frequently comes out of your mouth is how to make
more by doing less.
And that whole group is focused on doing that.
And we are making more by doing less.
And I think everyone in that, in the group is making more by doing less or is very close
on their way to doing so.
Well, the other thing that I would say, too, is focus is when you're by yourself, you can get pulled in a hundred different directions and you get excited around different opportunities.
And oftentimes you don't have anyone to kind of bounce them off of.
And having, being, staying focused and having accountability is also something that a mastermind will provide you.
is you have a group of peers where, you know, if you've got the shiny object flying around your face and you know, I'm going to do that.
Now you have a group of peers to go and bounce it.
No, Matt, no, John, let me tell you, think about it from this perspective.
You know, great, you could make an extra $100,000 doing that.
But what if, you know, you took the same amount of time and bought more rental properties, long term over a 30-year period, what's that cash will look like?
right like so people to give you a different perspective and help keep you focused um because if you have drive
focus is such a it's a difficult thing to maintain you know yeah the ambition can sometimes be a an enemy of the focus for sure
yes ungoverned ambition is the dangerous uh aspect because the thing about it is when you go there
you're going to share what that what your ambitions are and when you're in a master line you're going to see those
individuals again.
Mm-hmm.
And what more do you want, do you want to show up having not accomplished any of your
ambitions or your goals?
No, that's, you know, to be honest, that's embarrassing.
Right.
Right.
So there's just a multitude of dynamic that go into a mastermind outside, above and
beyond, just growing your business.
Mm-hmm.
Yeah.
Yeah.
Well, Jason, I am so grateful for you.
and I want to do you a favor.
And I know I have some high-level players
inside of the Epic Pro Academy
that might be listening
and thinking this might be for them.
So I want to do them a favor as well.
And I want you to share
where they can go and fill out an application
for Collective Genius
to see if this would be a good fit
for their business.
Where should they go and do that?
First of all, thank you, sir.
I'm very grateful for that.
The best place to go
is just go to the CollectiveGenius.com,
the collective genius.com.
There's a letter there, not a fancy website.
It's pretty cut and dry.
It'll tell you what the collective genius is about,
how it's orchestrated, what you can expect from it.
And it's laid out pretty clean.
It's very simple.
And it's very simple.
If it's something that you're interested in,
again, as you go through that letter,
you'll go through an application process
and you fill it out.
it makes sense based upon what my
assistant sees. She'll, her name is Jen.
She'll set up a time for us to speak.
And we'll just see if it makes sense.
And it's
very low key. You come and check
it out. I'm checking you out. You're checking me out.
Or the group out.
And then we decide after we've spent some time
together if it makes sense.
I have worked my butt off to build a group like this,
and we don't invite people usually to come on board
over a 20-minute
conversation. And at the same time, if you're a
caliber, we don't expect you to make a decision like that over a 20-minute conversation.
So it's low-key, you come check us out, we check you out.
It's very simple.
Awesome.
And I would encourage equally, you know, if you're putting together something like this on the front end of some of your events,
I would encourage folks, I just don't know of any other type of environment that will elevate
your business more quickly.
than a mastermind.
It's what the leaders do.
It's the vehicle leaders used to stay on top, period.
Right.
Well said.
I like that.
In fact, I might use that at the top of the website.
The vehicle, the leaders used to stay on top.
I love it.
That's actually simple.
Super, bud.
All right, so I'm going to see you here in a couple months for our next collective
genius meeting.
And, you know, if anyone listening, if you want to join us, come check it out.
Check us out.
Go ahead and go to, it's the collective genius.com.
There's a the in front of there.
Yeah, yeah.
Because there's somebody else over without the the,
and we don't want you to end up over there
and learning how to macromay or something like that.
Correct.
And please let us know.
If you come from Matt's podcast, listen to the Nase,
please, please let us know.
Super.
That is where you came from.
So we'll make sure to treat you bad
since you came in with front of that.
Give them a few extra hoops to jump through for sure.
Well, one of the great things that have come out of this collective genius is a friend that I really cherish and really respect and love to spend time with.
And that's you, Jason.
And thank you for that.
And just the opportunity to interact with you, network with you, and be introduced to your people.
And I'm just got involved for another year.
I'm looking forward to another great 12 months, just like the last 12 months were.
And so that is just, I just want to.
I want to acknowledge you for the awesomeness that you are doing in the real estate investor community and really the overall world because you do some pretty awesome things there as well.
Thank you, brother.
I'm much appreciate that.
I'm honored to have you.
I think you know that.
Yeah.
Thanks, bud.
I appreciate it.
Yeah.
All right.
So let's do this again sometime.
All right.
Thanks for having me, brother.
I wish everybody who's listening massive, massive success in 2015.
Awesome.
And he means that, by the way.
Take care.
Yeah.
If exploring the possibility of becoming a member of the collective
Genius Mastermind, if that makes sense for you, go to the collective genius.com and give it a shot.
Try it on for size. Go ahead and explore. You know, if this is the one thing that was going to make a
difference in your life, in your business, wouldn't it make sense to at least investigate?
That's how I look at things. The collective genius.com. Go there and check it out.
And stay tuned for an encore presentation of my interview with Robert Kiyosaki discussing his brand new book
Second Chance. Definitely the highlight of my podcasting career. It was a
quite an honor and just stick around until the very end also and I'll share with you how I'm giving
out 50 copies of Robert Kiyosaki's new book, Second Chance. And I'm going to share with you how you can
get a copy for free. And that and more in 30 seconds right after this. Real estate investors,
you need to know this. If you do not have a lead capturing website, a recent study reveals that you
are invisible to 90% of the people that want to do business with you. We are epic real estate websites.com
and we have an easy three-step solution for you.
Step one, select a design.
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Epicrealestatewebsides.com.
It's time for Financial Freedom Friday with Matt Terrio.
Thank you, Robert, for taking time out to meet with us.
Oh, thank you.
It's a pleasure to meet you.
I feel like I've probably heard this a million times.
I feel like I know you already.
Oh, thank you.
I read the original book, and I think I've read every single one since.
Thank you.
And, you know, a lot of the stuff that you've probably heard a lot of times,
it just wouldn't feel right if we started this conversation without me, at least, thanking you.
And, you know, you've really changed my life.
And not just in an idea way.
I've actually been able to take in just about everything I think I've heard
from you and implement it into my life and stopped focusing on creating the piles of money and
we're focused on creating streams of money and we've been able to do that for our clients as well
and of all the people that I've interviewed you know they all at some point in our conversation
cite rich dad poor dad as a turning point in their life so just wanted to start by acknowledging
you for the contribution that you've made to the world I appreciate that as you know I'm
at times controversial so well that that kind of leads perfectly into this next question
is that, you know, I hear a lot of your critics talk about its theory, it doesn't work,
and we've actually been able to implement it and prove that it works,
and we've held the hands of our clients and had it work for them.
And I'm really curious to what your opinion is of why the financial experts of today,
some of them with the biggest platforms, many of them household names,
where's the resistance?
Why are they still subscribing to the work, work, save, save, type mentality?
This is a middle-class mentality.
It's very, very middle-class, and nothing wrong in being middle-class,
because I came from, should I say, middle-class, you know what I mean?
It's go to college, get a job, work hard, save money, you know, buy a house because your house is an asset,
you know, get out of debt, live below your means, and invest for the long term of the stock market.
Right.
That's extremely middle class.
You know, play it safe and, you know, vote Republican or Democrat, and you vote counts.
And meanwhile, we've been ripped off, you know.
So as a little boy, I write about my latest book, Second Chance, we get a copy of,
is that all coins have three sides.
There's no such thing as a one-sided coin.
So when somebody takes a side, then you're ignorant, because you don't see the,
other side. So what I say in second chance here is that a coin, all coins, there's no such
thing as an exception to that coin. So those heads, tails, and the edge. And intelligence
occurs when you stand on the edge. So as a nine-year-old boy having a rich dad and a poor
dead, you know, I have to stand on the edge. So my poor dad, you know, a PhD, good man,
honest man, hardworking, volunteered in civic duties and all that stuff.
Everything a man should be, good father, never fooled around my mother, was home every night,
didn't drink that much, and all that stuff.
Go to school, get a job, save money, work hard, your house is an asset, and da-da-da.
So that was one side of the coin, the middle-class side of the, also the poor side of the coin.
On the other side of the coin, the tail side, let's say, was my rich dad.
He says, you know, I don't get rich doing that.
The rich don't do that.
Right.
So as a 9 or 10-year-old boy, I'm standing on the edge of a coin,
which is a story of rich-dead, poor dad,
looking over at the poor middle class on one side,
and they're rich on the other.
And since most people go to school and get a job and all this,
that's all they know.
And so when I say something else, like your house is not an asset,
savers are losers, the rich don't work for money,
you know, things like that.
I don't invest in the stock market.
The other side of the coin goes nuts.
So what you were able to do was read my book and stand on the edge of the coin and go,
is it poor dad or is it rich dead?
And so the people who took the side of rich dad, they're happy.
They're moving forward and all this stuff.
The guys who took poor dead think I'm the Antichrist.
You know, they think I'm bin Laden or something.
I'm a terrorist out there.
And I'm not saying don't go to school.
I'm just saying it's cool, it's not teaching this.
Because that was my poor debt.
So that's kind of the reason.
And so for your people that listen to you, they stand on the edge,
and they have to make that decision too.
Am I going middle class and poor, or am I going to go rich?
Right.
Do you see any, you know, even the book came up 15 years ago,
Rich Dad Poorhead?
1997.
It was almost 20 years.
Okay, so it was a long time ago.
It's been a long time.
What type of progress have you seen in your message?
infiltrating the mainstream?
Or has it?
Are you discouraged?
Are you encouraged by what's going on right now?
No, it's like I said, all coins have three sides.
Right.
You know, there's no such thing as a one-sided coin.
Right.
There's not one-size-fits-all.
Right, that's what you're saying.
So the people who are on the go-to-school, get a job, work hard,
save money, invest for the long-term, live below your means,
they're still doing what they do.
You know, and the guys like you said, oh, okay, I'm going to this side.
Right.
So there's what I consider a migration.
You know, certain people are going this way, this way, this way.
Especially, look, in 1997, I said, your house is not an asset, and I was crucified.
Right.
You know, I was a Jewish guy, a Japanese guy hanging on the cross, you know.
You don't know what you're talking about.
Then, and so in 2007, you know, the subprime mortgage crashed.
And so everything I said came true.
I said, your house is not an asset, and millions, and all across the world,
millions of people found out their house is a liability.
Right.
But, you know, they still think the house is an asset, even though it's a liability.
And the other thing happened was in 2008, you know,
quantitative easing started TARP programs and all this.
And they found out that savers are losers.
So I had written a book a little bit earlier.
We can show it on the cry on.
It was called Rich Dad's Prophecy.
So Rich Dad's Prophecy came out in 2002.
So I'm still the bad guy up in 2000.
up in 2002, and I said, the biggest stock market crash in history is coming in 2016.
So I am 12 years out making that forecast.
And if you look at the charts, 2016 is coming.
Sure is.
And it may not be 2016, and I hope it doesn't happen.
But if that Rich Dad's prophecy comes true,
the upper middle class will get light down.
Because most Americans, most people throughout the world,
today are in the stock market.
In other words, if you work for the government of, let's say,
Arizona, California, Arizona, your retirement's in the stock
market. If you're a school teacher, your retirement is in the
stock market. So never has the stock market, you know, the Dow,
let's say, been so high. The Dow is over 17,000.
And they're saying, oh, come on in, man. The stock market's high.
You've got to be crazy. Right. Why would you buy it an all-time high?
because the only direction you can go next is down.
Yes.
So that's why in 2002, 2004, Rich Dad's prophecy,
and hopefully it doesn't come true,
but if it does, we're going to see a depression
like we've never seen before.
This is too deep of a question.
You can redirect it if you want,
but if these prophecies do come true in 2016,
your prediction of the biggest stock market crash,
what are some of the things that someone could do right now
to prepare themselves for that,
So to mitigate their damage and mitigate their loss.
Well, as being as capitalistic as possible by this book here.
That's why I wrote this book because it just came out in January of 2015.
And the book's in three parts, past, present, future.
So the reason most people cannot see the future is because they've never had anything.
They don't understand the past.
So part one of this book is written very, very simply.
I use a lot of pictures, you know.
pictures like this.
So everybody can understand,
a 10-year-old kid can understand,
because I could understand it.
And you'll see what's happening in the past,
and when you can see the past,
you can see the future.
And so part three of this book is the future,
stuff like this,
and you'll understand standing on the edge of the coin.
When you read this book,
you will stand on the edge of the coin.
And you go, okay, this is what the middle class is doing,
So the poor is doing on this side, and this is what the rich are doing.
The rich are not in the stock market.
They're going to get out.
So all the guys who invest for the long term for their 401K, hopefully I'm wrong will be wiped out.
So all the doctors, the lawyers, the CEOs and all that, anybody whose retirement is based on the stock market is in trouble, in danger.
If I'm correct, if my rich debt's correct.
So rich debt, second chance here is saying this.
read the past, stand in the present, and look at the future.
Got it.
And you make your mind of it.
Because your second chance, this may be it.
This may be the biggest opportunity of all simply because, as you and I know,
more money is made when the market's crash.
You know what I mean?
I made more money after 2007 buying the best real estate at cheap prices at low interest rates.
That's how you get rich.
and all the fools jump in when prices are high.
So idiots jump in at the top
and the rich guy jump in at the bottom.
And that's what this book's about.
So second chance to make a killing,
but not get killed.
I can't wait to read it.
I haven't just as a first time seeing it.
I knew about it though.
I made it very simple so a kid can understand it,
but also you can talk to your friends.
You see if it's in pictures.
You have friends who are saying,
yeah, I'm going to invest for the long term
my 401k, if you just look at part one, they go, oh my God, maybe I should rethink something.
Right. You know, based off your past books, there's no doubt my mind that's going to be
outstanding and I can't wait to read it. Well, it depends on who you talk to. Oh, well.
You know, your financial planners will hate this book. They'll hate it. They've always hated
my books anyway. I love it. I love it. So my big question is something I've always wanted
to ask you. If I ever had the opportunity to sit down with you, one thing I always wanted to ask was,
you know, with so much the world now getting their education from Robert Kiyosaki, where
does Robert Kiyosaki get his financial education from?
Stay tuned. We'll be right back with more. Robert Kiyosaki in 30 seconds.
Your portfolio has seen better days. But this two shall pass. And the best for you is yet to come.
Together, we'll get you there faster. We're cash flow savvy. And we'd like to share some
information with you that will show you how you can take control of your financial future
and accelerate its arrival. Go to cash flow.
Savvy.com. More building, less waiting. Cashflow savvy.com.
Where does Robert Kiyosaki get his financial education from?
Well, again, it's covered in second chance. It is. Okay. Yeah. There was two. Convenient.
There were two men who really influenced my life. One was my rich dad, obviously. My poor dad also, because he was a good bench, a humanitarian, socialist. And my rich dad was a capitalist. So rich dad really affected me. But
But there was another man who was more of a socialist.
His name was Dr. R. Buckminster Fuller.
And he's considered the planet's friendly genius,
because he wanted a planet that worked for everybody.
But he was also known as a futurist.
So second chance is about Dr. Buckminster Fuller.
And the story starts in 1967 when I was 20 years old.
I was school in New York.
And I hitchhiked from New York to Montreal, the Expo 67,
to see the World's Fair on the future.
Rocky Fuller's dome was the U.S. pavilion on the future.
So I'm a 20-year-old kid.
I walk into this dome.
It's massive.
I'm going, wow.
And all of a sudden, I go, wow, this guy is, he's in another dimension.
He's another realm of thought.
You know, and I went, wow.
So I started to understand, as Fuller did,
you can actually see the future.
He is considered a futurist because he actually found a way to see the future.
So second chance was designed.
to allow the reader to see their future, not my future, your future, their future.
And you can see the future, then you can make changes.
So really, it was Bucky Fuller and my rich dead.
And Bucky Fuller and Rich Dad were as opposite as you can get.
You know, one was a capitalist, Fuller was a socialist.
But then in 1983, a year after his death, I studied with Fuller three different times,
81, 82, and 83.
and then a year out, two weeks after my last time with him, he passed away, July 1, 1983.
And I was just lost. It's like losing a father.
And then a few months later, his book came out posthumously.
It was called The Grunch of Giants, so we can show that on the screen.
It's a hard book to read.
Buck is hard to read.
But Grunch of Giants was saying the same thing, my rich dad was saying.
And that's when they came together.
Got it.
And when I understood those two, I could see my future, if you know what I mean?
Wow.
And that meant I could not do what I was doing anymore.
I was in rock and roll.
Working the police, Duran, Duran, Iron Meeting, boy George, Van Halen.
I was having a lot of fun, sex, drugs, rock and roll.
Right.
But suddenly when I could see what my rich dad was saying to come true,
and what Bucky Fonoha was saying to come true, in 84 I sold everything.
and that's where I met my wife Kim.
And I said in good conscience,
I can no longer be in rock and roll,
just making money to make money.
And I said, I've got to start teaching.
So we can all do something.
And I just, you know, even if it's a little little thing,
we can all do something.
And so what Kim and I did,
my friend Blair Singer,
is a rich dad advisor,
we just start to teach.
And nobody listened to us.
They still don't listen to us.
But we can all do something.
So really that's kind of the story.
of Bucky Fuller, his book Grunch of Giants, Rich Dad, Poor Debt, and Now Second Chance.
It's a combination of the three books.
Super.
Well, it's in stores now.
You can go to Amazon and pick up a copy.
Can I add something for those of you who are actually interested?
Sure.
When I invest, people think I'm a real estate investor.
When you read Second Chance, you'll understand I do not invest for real estate.
I invest using debt and taxes.
You see, on one side of the coin is a poor and middle class.
And the poor middle class, debt and taxes makes them poor.
And the reason the rich are getting richer today is because on the other side of the coin,
debt and taxes makes the rich richer.
And so it's so opposite.
And the reason people cannot see, the poor and middle class cannot see what the rich are doing
is because they have no education.
And I commend you for giving them the education.
But when you read Second Chance, you'll understand when the most people who are doing the
market started coming down in 2007, I didn't get out of debt. My partner, Ken McElroy's, my real estate
guy, partner and all this, we borrowed nearly $500 million. So when everybody's trying to get out
of debt, we're getting into debt. It's opposite, the opposite side of the coin. Sure.
So we bought with debt, the banker's money, it's actually your money because you're savers.
You know, so we bought $500 million worth of real estate at approximately $5.5.5.5.000.
percent. In 2014, because the economy is so bad, that's tax-free money, too. Debt is tax-free
money. It's lovely stuff. And so when 2014, they reduced our interest rates from 5% to 3%.
So do the math, what's 2% of $500 million? That's money in my pocket. Tax-free money.
So more than anything else, second chance is for your people.
because they're actually already proactive thinking the way you think.
Right.
So it's not really a real estate.
It's debt and taxes.
It's the same as oil and gas.
Why am I in oil and gas?
You know, the price of oil is coming down?
It has nothing to do with the price of oil.
Has it do with taxes?
When I invest a million dollars in oil,
or you can invest $10,000, let's say,
you get 80% of your money back in taxes.
So the raise and the rich are getting richer,
and the poor and middle class are getting poorer.
Two words, debt, taxes.
And second chance will have you understand that.
I'm not saying it's easy.
I'm not saying everybody can do it, but you will understand that.
And that's why the guys in stocks and bonds and mutual funds and all that do not like what I say
because debt and taxes works against them.
I hate to say this every time when we started printing money, quantitative easing,
we basically took the poor middle class and threw them under the bus.
We said, screw you.
We have to protect the rich.
And I hate to say this, nothing has changed.
So in closing, if it's closed, I'll have to say, your job is to stand on the edge.
Core middle class on one side, rich another side,
and be the intelligent thing to stand the edge of the coin,
read second chance and see which side is best for you and do what's best for you
because I don't expect people to do what I do, but you've got to do what you do.
Right.
And everybody out there knows their situation much better than we do.
Yes.
You know, read the book and make up your own decision.
Yes.
Right?
Robert, appreciate it so much.
Thank you.
Thanks for coming all the way from L.A.
Oh, you bet.
You bet.
And thanks for taking time on a Saturday morning to me with me.
Thanks for teaching.
Teaching is most important thing.
Yeah, absolutely.
Absolutely.
It's rewarding, isn't it?
It's sold satisfying.
Absolutely.
To get a free copy of Robert Kiyosaki's new book, Second Chance, here's what you can do.
I'm giving away 50 of them.
Go to iTunes and then go to the Epic Real Estate Investing podcast and leave a review
sharing what you liked most about today's interview with Robert Kiyosaki.
And if you've already left a review,
for this podcast. iTunes will only let you leave a review once. If you've already done it for this
podcast, share your review over at my new show, Turnkey Real Estate Investing. Once you've done that,
send me an email to podcast at epic realestate.com with Second Chance in the headline. And for the
first 50 people that I received these emails from, I will ship you a hard copy book of Second
Chance. Robert Kiyosaki's new book just released, I think, two weeks ago. All righty. That was a long one.
and that's a long day.
See you in a few days with a much shorter episode on third degree Thursday.
That's it for today.
I'm Matt Terrio, living the dream.
You've been listening to Epic Real Estate Investing,
the world's foremost authority on separating the facts from the BS in real estate investing
education.
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