Epic Real Estate Investing - MJ DeMarco and The Millionaire Fastlane | 814

Episode Date: October 23, 2019

Today, we are going way back when Matt aka the “Do Over Guy” was joined with MJ Demarco, the author of The Millionaire Fastlane, at that time Matt’s newest favorite book. Tune in and find out mo...re in this life-changing episode! Learn more about your ad choices. Visit megaphone.fm/adchoices

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Starting point is 00:00:00 This is Terrio Media. Success in real estate has nothing to do with shiny objects. It has everything to do with mastering the basics. The three pillars of real estate investing. Attract, convert, exit. Matt Terrio has been helping real estate investors do just that for more than a decade now. If you want to make money in real estate, keep listening. If you want it faster, visit R-E-I-Aase.com.
Starting point is 00:00:36 Here's Matt. Hey, Matt here. Welcome to another episode of the epic real estate investing show. It is way back Wednesday. This is the day where we reach back into the archives and pull out old classic episodes. And we've been reaching back into the archives of the Doover podcast, the podcast that started it all. And I got another great one for you today. Enjoy.
Starting point is 00:01:03 During an era where countless people, businesses, and organizations are feeling the pinch. Running out of time, running out of money, losing confidence, feeling as if life is unfair, praying for another chance, and unless something is done, life is going to pass them by. Fortunately, in the nick of time, there is now a place where the ignored, underestimated, and unknown steps to producing results, and making life work are revealed. Save your career. Save your business. Save your health. Save your relationships. Save your life.
Starting point is 00:01:42 Get from where you are to where you want to be, faster, and with greater ease than you ever thought possible. Say hello to your do-over. Welcome to Your Do-Over. Coming to you live from downtown Los Angeles, and this is the place where I show people who want more out of life, people dissatisfied with their current situation, how to start over and begin a new life,
Starting point is 00:02:10 setting goals and objectives so they can create wealth and live life to the fullest. You can jumpstart your do-over and lay a solid foundation for a better life by downloading the three pillars of creating the ultimate do-over for free at free do-over.com. It's a 55-minute MP3 audio program that I made just for you with three specific steps on how to get success as you start over. The three pillars of creating the ultimate do-over will put the legs under your table. they will lay the foundation for you to achieve, they will act as your traveling success coach,
Starting point is 00:02:43 and they are yours for free at freedoover.com. Okay, so today's show, I want to talk about books, specifically those books that literally change our lives. And I mentioned a few briefly at the end of the last episode. Anthony Robbins' book, Awaken the Giant Within. I mean, that book actually transformed me into a different person after I read it.
Starting point is 00:03:07 I learned what emotions really mean, why we have them, how to use them, as opposed to them using us. I learned how to actually communicate with myself, how my brain works and the impact the words we have on our lives. I mean, I've read that book multiple times, and it's almost a different book every time I read it because I'm different after each reading. I mean, I'm literally a different person after every time I read it. And Robert Kiyosaki's book, Rich Dad, Poor Dad, and his other book, Cash Flow Quadrant. Those two, they turned my life upside down.
Starting point is 00:03:37 and rendered me completely unemployable. I know if I had these two Kiyosaki books prior to starting my record label back in 94, I don't think there would have been a need for my do-over. I mean, there would be no do-over guy. And what I mean by that is today, my focus isn't necessarily on making money like it used to be. It's more on making assets, creating assets that produce money. I mean, if that were my focus in the music business from the very beginning, I'm confident my life would have ended up very, very differently.
Starting point is 00:04:04 And the four-hour work week by Tim Ferriss. I mean, that was another real game changer for me. If for nothing else, just being introduced to the world of virtual assistance, learning how to delegate. I mean, I've been using freelancers for the last couple of years for editing, web design, logo design, website maintenance. I mean, jobs that need to be done, but they take such a great deal of time. I mean, especially if you have to start from scratch, if you have to learn how to do them yourself before you can actually do them. I mean, the learning is one part, the doing. I mean, that's another part entirely.
Starting point is 00:04:35 Those types of tasks can be real-time time-stealers. I mean, in fact, I'm actually hiring a full-time virtual assistant this week as I'm really falling behind on my website maintenance. I don't know if you've noticed, but I haven't had a blog post up in weeks. I mean, I haven't had one up in months for my real estate website. And my YouTube account, it's grossly behind and flat out stagnant, really. And my podcast transcriptions, they're behind. So my apologies, if you've been looking for the transcriptions,
Starting point is 00:05:02 I'm just behind. and I'm getting ready to start a new book. I'm getting more coaching clients than I have time for. And I don't know what I would do if I didn't learn a virtual assistance and how to delegate from the four-hour work week. I mean, I was always under the impression that I was going to have to hire employees.
Starting point is 00:05:17 I was going to have to expand and do this giant company. But the four-hour work week opened my eyes that you can grow and expand without necessarily expanding personnel. You know, that book continues to affect my life three or four some odd years after having read it. And when a friend a couple of years ago introduced me to Jeff Olson's book, The Slight Edge,
Starting point is 00:05:39 I mean, distinction within that book, the distinction that every decision matters, I mean, that completely altered my mindset. And my day-to-day activity doesn't even remotely resemble what it did prior to reading that book. I mean, those are four books that have changed my life, and I've read them all multiple times, and I continue to read them again and again.
Starting point is 00:05:59 Well, as I alluded to, to at the end of the last episode. I stumbled upon a new book of which I'm adding to this collection. And in many respects, it's arguably my number one or my number two favorite book of all time. I will be referencing and recommending this book
Starting point is 00:06:15 for a very long time to come. The book is The Millionaire Fast Lane by M.J. DeMarco. Now, its title, and even the cover art, actually, might lead you to believe this is some sort of get-rich-quick book. And if you think that,
Starting point is 00:06:31 you'd be right. However, the word quick, it's a relative term. In relation to the 40-year plan we've all had instilled in us, you know, to go to school, get good grades, go to college and get a good job plan, the plan that says live below your means, pay yourself first, and put away 10% of your income in a CD or a 401k with the hopes that by age 65, you'll have enough to retire that plan. Well, in relation to that plan, yes, it is get rich quick.
Starting point is 00:06:58 quick being defined in essentially a decade or less, or more like really three to five years. And don't confuse this phrase, get rich quick, with get rich easy. I mean, it still work. It still takes effort. It takes focus,
Starting point is 00:07:14 and it takes patience, and it takes persistence. But the rewards and potential are infinitely greater with essentially the same amount of risk. I mean, if you had to choose between the get rich quick plan and the safe, conservative,
Starting point is 00:07:26 get rich slow plan, I mean, if you really stop to analyze the two and the way M.J. DeMarco has in his book, well, you'll be able to draw your own conclusions, but I left with a very new distinction. There's a lot more risk in the Get Rich Slow Plan. In fact, I left with the idea that the word scam, as it is so often associated with Get Rich Quick,
Starting point is 00:07:48 that word scam should probably be more frequently associated with Get Rich Slow. That was my conclusion, at least. Nothing I didn't really already know or didn't really already think, but now that thought and that belief, that knowledge, it's so much stronger. And if Ridge Dad Porte had didn't render me certifiably unemployable, M.J. DeMarco's Millionaire Fastlane has sealed the deal. I mean, he put the nail in the coffin. And not that I was contemplating getting a job,
Starting point is 00:08:15 but it certainly has me thinking about all of the people that I know that have jobs. It's like if they only knew. I mean, and if you're listening to me right now and you have a job, no worries. No worries. there's nothing wrong here. Just know that you've got to start making your way out. Well, let me clarify. If you want to experience any sort of the good life,
Starting point is 00:08:36 any sort of freedom while you're still young enough to really enjoy it, you've got to start creating a plan, a plan to exit the slow lane and get into the fast lane. And I would recommend that your first step is picking up Millionaire Fast Lane ASAP. I mean, if for nothing at all just to know the difference between the two, the difference between the slow lane and the fast lane. And I'll think you'll be surprised by what differentiates the two. That's probably not what you think.
Starting point is 00:09:03 And then there's the sidewalk also. I mean, that's the most dangerous place to be. Anyway, I don't want to spoil it. It's a life-changer. And today's episode, we've been blessed to have the author himself on the show, Mr. M. J. DeMarco. M.J., thanks for joining us today. Hey, Matt, thanks for having me.
Starting point is 00:09:19 You bet, you bet. You know, to get started, can you give the listeners a little bit of your background and describe some of your past accomplishments and what you're up to today and then we'll get to your book. Oh, sure. I was the CEO and founder of Limos.com, which was a global ground transportation aggregator,
Starting point is 00:09:42 basically if you were looking for ground transportation, say from the airport, you know, from New York to, you know, a suburb or something, you could use my site to find a company. And I started that company. You know, when I say CEO and founder, that sounds like a big thing. But really, I just started that company with no experience, no money, started it. Pretty much self-taught myself everything. I was always in the library, reading books.
Starting point is 00:10:16 Grew the company to a multimillion dollar valuation. Actually sold it twice, sold it once during the dot-com. craziness and the company that I ended up buying it went bankrupt and I ended up buying it back, took it back, made it profitable, cash flowed, profited anywhere from five, six figures per month. And then again, I sold it again in 2007. And that was when I'd like to say retired, although it's more of a semi-retirement. Usually when you say retirement, people think of, you know, we're on the golf course, playing bridge.
Starting point is 00:10:54 It's not what I was doing, but one of my dreams was to write a book. And the book I wrote is the Millionaire Fastlane. And my thought process for that was I wanted actually to write a book just to kind of expose the truth about what's going on out there in terms of personal finance and money. And I wanted to do it without having to upsell my readers into some other seminar or, you know, financial products, because I think a lot of your listeners, maybe even yourself, are familiar with, you know, a lot of these financial books, they seem to be 300-page upsells into some other program or, you know, a membership website or a $5,000 seminar, and that is something
Starting point is 00:11:41 I didn't want to do. So it was my dream to write this book, get it out there and, you know, and see how it's through with the market thought about it, and that's where I am in my life right now. Awesome. You have an amazing story and it's particularly one of the reasons that I've asked you to come on today. And I've also asked you to join me today because of your book. And as it's just now one of those books, I'm always going to reference. I'm always going to mention it to others as a must read. I mean, it's really become one of my favorites really, really, really fast. I really, really loved it. And I found myself as I was reading it were more like, yeah, you tell them. That's right. Exactly. you know, like, what's everyone's problem? Why doesn't everybody get this? I mean, there's just so much
Starting point is 00:12:23 brilliance within your work and there's so much that I want to discuss with you, and I know we're somewhat limited on time, but it was really tough to narrow down what to discuss, and I guess that's just why everyone's going to have to go out and get it and read it for themselves. But what was really tough for me was to formulate questions because the book just seems to be filled and replete with answers. I mean, I totally get it. You know, and having said that, there were a few distinctions, though, really jumped out, I mean, one in particular with regard to when someone might ask you how to get rich, and although that you likely have an answer for them, your initial advice would be more along the lines of stop doing what's making you poor. Can one be done independently of the other,
Starting point is 00:13:05 or is one more important than the other? I don't think so. I mean, as you may have read in the book, I think it's a formula. And if you skip the, if you skip parts of the formula, you're going to have problems. It's like, you know, if you're going into the kitchen to bake a cake and someone says, hey, well, let's try to bake this cake without the flour. Can we do it? Obviously, the answer is no. I think you need the entire formula,
Starting point is 00:13:35 and that's why the front half of my book actually goes into why most people will never get rich. It's because they're not using the entire formula. They're using part of the formula. They're using a road. focused plan, which, you know, something like, you know, invest in real estate or certain business. See, those are road-focused strategies. They don't address the entire formula.
Starting point is 00:13:59 I mean, a great example I love to use is I just posted this on my form. Ten NFL superstars that went bankrupt. Well, these people made millions and millions of dollars over the years, and now they're bankrupt. Well, obviously, they had a approach to make money, but they missed the entire formula, which is why now they're bankrupt. So I believe you have to have the entire formula. And that is one of the reasons why the book is so damn long,
Starting point is 00:14:27 it's one of the feedbacks I get that's softly long. It's because I wanted to put the entire formula in there. Right. You know, and I was kind of bummed that wasn't on audio because I'm such an audio guy, so it's probably the first book that I've actually read in quite a long time, but I did read it from cover to cover. You know what? There wasn't a wasted word in there.
Starting point is 00:14:46 It was really a really nice page turner. another very interesting distinction that you expound on in great length is that, you know, get rich quick. It carries a very negative connotation within our society. And the first word often to come to mind when hearing get rich quick is the word scam. But if I read it right, if I read this right, should one leave your book with the ideal that get rich slow, as most of the country has been taught to do, is an even bigger scam?
Starting point is 00:15:15 Oh, I truly believe it's a big scam. It's a big scam. It's as risky, if not more riskier. And it's because it's predicated on a whole idea of hope and time and 40 years of hope and time. I mean, think about it. If you don't have a job, can you save money? If the stock market doesn't give you 8% for 40, 50 years, can you save money?
Starting point is 00:15:41 I mean, it's predicated on all kinds of factors that you can't control. and you're supposed to do this for 40, 50 years, and then one day when you're 70 years old, you know you're going to be rich. And the other thing about the plan is it is just a mindless indoctrination into mediocrity. I mean, it's training people to think small, to think mediocre.
Starting point is 00:16:00 I mean, some advice is, you know, you've got to stop going out to dinner, you know, spending money on expensive Starbucks, spending money on expensive meals at restaurants. Well, you know, there's research that says that social spending is a core component of happiness. Social spending is going out with your friends and spending time with them.
Starting point is 00:16:21 Yet, you know, the slow lane, the get-rich slow plan is pretty much pleading to us to say, you know what? Except a life of mediocrity. And, you know, I don't know about you, but that's not how I want to live my life. Absolutely not. You know, can you quickly just describe the difference
Starting point is 00:16:39 between the sidewalk, the slow lane, and the fast lane? Sure. I mean, I cover, there's pretty much three paths in my book that say, you know, this is the path that you're on that most people subscribe to. And the sidewalk is basically a plan where there is no plan. Basically, you take every dime you earn, whether it's from your paycheck or from your business profit or your last music gig, whatever you're making, you are spending.
Starting point is 00:17:09 You spend it immediately on the next great gadget, you look good in a nice new car, you live in a house that's huge. The bottom line is whatever you're making, you spend. There's no savings and there's no plan. And I like to say that the sidewalk really doesn't care how much money you make because it's never about the money you're making. It's about what you're spending. This is why we have these NFL athletes going bankrupt.
Starting point is 00:17:35 It's because they are making the big money, but they're also spending the money. They have no financial plan. A thing I like to say is sidewalkers. You know, the poor sidewalkers are worried to death about their $900 mortgage. Well, there's rich sidewalkers that are worried about their $9,000 mortgage. I mean, the worries are the same. It's just the scenery is different. So that's the sidewalk.
Starting point is 00:18:05 And it's usually people that are just all they're concerned about is instant gratification. Where's the next fix? A lot of them engage in get rich, quick type things. They play the lottery to go to casinos. They look for those events of wealth, which, unfortunately, do not exist. And the slow lane is actually a graduation from the sidewalk. Usually a sidewalker becomes a slow winner. The sidewalkers says, you know what, this isn't working.
Starting point is 00:18:36 I got no money. You know, I'm in debt. So the Side Walker graduates to the slow lane. It's pretty much what we've been taught by the mainstream financial gurus. A lot of our parents, colleges. This is what they teach.
Starting point is 00:18:50 And what they teach is go to school, graduate, get a job, save 10% of your paycheck, put it in the stock market for 50 years because after 50 years it's going to be worth billions and billions and dollars. Live mindlessly fool. Stop drinking the expensive coffee,
Starting point is 00:19:07 buy a used car, cancel all those movie channels, just live in existence of mediocrity, and then one day your shining moments of retirement will come when you're 70 years old. That's the slow aim. And as I mentioned you before, it's predicated on hope and time
Starting point is 00:19:24 because millions of people are discovering, gee, if I don't have a job, that plan doesn't work, or if the job I have is totally underpaying me what I'm worth, that plan doesn't work, or gee, when the stock market loses 40, percent of your money in one year like it has recently, that plan doesn't work. So that's the slow end, and I believe that is just a bigger gamble than what people say, oh, you know, studying a business, that's risky.
Starting point is 00:19:53 I'm like, are you kidding me? I mean, you want to take a 40-year gamble and you think that's not risky? Right. Those are the two. The sidewalk and the slower and the fast lane is a controllable, strategy that involves, obviously, entrepreneurship, starting a business that fundamentally solves a need in the marketplace or a pain point or a problem,
Starting point is 00:20:20 and scaling that to a large audience. And when I say large audience, doesn't mean it has to be the masses. It could be a niche community. It could be a smaller group, but it's scaled where you have the opportunity to impact millions. And the fast lane is something that, removes the hope and time with control and leverage.
Starting point is 00:20:43 And this is why I like to say, you know, get rich quick, sounds negative, but it exists. That's because the people that leverage a fast lane have control and leverage. They control their business. A pink slip can't derail them. And economic reset doesn't impact them as much. You know, they're not bound by the limitations of mathematics, which is, you know, 24 hours in a day or an annual salary, which again is predicated, you know, pegged to time. So those are the three roads. Fast lane, slowly, sidewalk.
Starting point is 00:21:21 Got it. When I first heard of the analogy of using the sidewalk to slow and the fast lane, I kind of thought I knew what it meant. But after reading, I really did, and you've put so much time and effort and thought frost into this to create those three distinctions. They're really useful tools. You know, you generously share about in the book before your success. You share about your many struggles and your challenges and your failures and the failed businesses, the failed opportunities and your interaction or your experience with MLMs and how you were a late-night infomercial's ideal customer. What was it about the, I was too at one time, by the way? What was it about the limo.com business that was different?
Starting point is 00:22:02 I mean, what clicked and allowed you to finally experience a significant, success. Actually approaching the marketplace based on what it needed versus what I wanted. And that's, I see one of the problems today. I see in a lot of these motivational books, a lot of these entrepreneur books, is they're so self-centered and it makes me laugh. And it's like, it's like teaching people, oh, you are special. The universe will give you what you want because you love doing this.
Starting point is 00:22:32 Oh, it's your passion. So, you know, it's all bullshit. the marketplace doesn't care about what you love and what your passion is. It just wants to know like a selfish kid, what the hell can you do for me? A great example I'd love to use is if you were selling ice in the Arctic, does it matter if you love doing it? Right. No, because the market doesn't need it.
Starting point is 00:22:56 You can love it, you can be passionate, you can do whatever you want, but the market doesn't need it. So my turning point was to realize, you know, I've got to start looking at the marketplace, at what it needs, what it wants. find a customer, people that will give you money for something you offer, meaning there's a need for it, versus attacking the market
Starting point is 00:23:13 based on, oh, I love doing this, so I'm going to do it. And I think, I call those people, do what you lovers. Do it and they're broke. That's because no one needs it.
Starting point is 00:23:24 Or everyone is doing what they love, which means the margin in the space is so crowded that you have to lower your price and you don't make a profit. Mm-hmm. So, to answer to your question, I believe the first thing the breakthrough I had was attacking the marketplace based on a fundamental need that existed in it versus saying, you know, I like doing this, so I'm going to do it or do that. Got it. Okay. Well, after the initial sale of the limo.com business, you tell the story about how you walked through a significant portion of your proceeds really, really fast.
Starting point is 00:24:02 you know, and although you had made a good chunk of change, I mean, you still had somewhat of a sidewalk mindset. Was there a pivotal moment where you left the sidewalk for the fast lane for good, or was it a gradual exit? No, it was, it was a, I'm picturing a frying pan over my head. So, yeah, I mean, I found the sidewalk by experience through my own wisdom. You know, my first installment check I got a year ago when I sold my company was $250,000, and I immediately pretty much blew half of it. You know, the cars, the nice clothes, and all of the, and, you know, I realized, you know, after the technology implosion, I realized, wow, I'm pretty much broke again.
Starting point is 00:24:52 And that's what I realized, you know what? It's not, it's as important as what you're making. is what you are spending. And I also moved through my finance background. You know what? If you can accumulate a large sum of money, making three, four, five, six percent interest on that could yield a substantial amount of money per month 100 percent passively.
Starting point is 00:25:22 So that's when I said, you know what? I'm going to start saving most of what I make. and they may scare a lot of people, but when you're making $150,000 a month, saving $140,000 of it is pretty easy because you just have to keep your expenses in check. I didn't blow up my expense line with cars and stuff I didn't need. So, yeah, I mean, that came to experience that's sidewalk.
Starting point is 00:25:53 I think all of us started alive on the sidewalk. I mean, I know I did. Definitely. You mentioned in the beginning of your entrepreneurial pursuits that support from your friends and your family, it was noticeably waning with each failure to the point where you really had no support at all. And correct me if I read that wrong. And many of the listeners of this show, they suffer from lack of support from their friends and family. And oftentimes most tragically, they're significant other.
Starting point is 00:26:21 Did you have like a certain mindset or strategy that enabled you to persevere despite the lack of support from your environment? and how would you advise someone today to stay focused and motivated under the same conditions? I think the lack of support is pretty common because when you step out what's normal, I mean, it's fast-lane stuff, is considered abnormal. The normal is to go get a job and follow the advice. That's near 401K. That's normal. So when you step outside of normal, you're going to encounter resistance.
Starting point is 00:26:52 And I think the resistance actually fueled me to rebel. I consider myself a rebellious type. So the more I saw that mentality, the more I wanted to rebel against it. So how did I tread forward? Really? Books. Books. I buried myself in books.
Starting point is 00:27:13 People who thought like me, people who could teach me, people who were investors, entrepreneurs. One of the books I think I read probably four or five times was Tony Robbins, The Waking the Giant Within. So any time I found myself getting set. back by what society was telling me what I should be doing versus what I wanted to do, I'd bury myself in a book. The power of the book is really, I think is the most underestimated thing we have. If you pick up, like for instance, if someone here picks up my book and reads it, essentially they're having lunch with me for nine hours. I mean, you can go pick up a book by Tony Robbins.
Starting point is 00:27:50 You're going to have lunch with him for 10 hours. You can pick up a book by Donald Trump. You're going to have lunch with him for a few hours. I mean, anytime you're, you're going to have a book with him for a few hours. I mean, anytime you read a book by one of these authors that has something critical to tell you, you're having lunch with them. So that's what I did. I mean, when I had my business, excuse me, when I was working as a limo driver, I had so much downtime. I'd sit in the back of the cab, and I would read. So while I was waiting for planes at the airport, I was reading a book. Every time I sit in the toilet, I read a book.
Starting point is 00:28:25 Every time I go in my car, I have an audio book. So I'm always constantly filtering my mind with things that support my objectives and my goals. It's funny that you'd mentioned Awaken the Giant Within because I'm sitting here trying to decide what is my favorite book of all time. Is it that one or yours? Believe it or not. So, yeah, I've read that book probably. And you thought mine was long. Yeah, I know.
Starting point is 00:28:50 Yours is a breeze. It's like reading the, yeah, awesome. You know, when it comes to doing over in life, or anything for that matter, I mean, it's important to learn from past mistakes that you don't find yourself doing over again. And you cover this, I think, brilliantly in your chapter about hitchhikers and the difference between being responsible and accountable. Can you kind of expound on that and maybe go into a little bit more, what is the law of victims also?
Starting point is 00:29:16 Well, a lot of people are struggling financially because they have given up control. The law of victims basically says as soon as you give control over to somebody else, you become subjected to becoming a victim. And this is why we have millions of people who are struggling financially because they gave the power to the economy. They give the power to a business that can say, hey, you know, we don't need you anymore. We're letting you off.
Starting point is 00:29:45 So when you lose control, that's when we have these financial failures. A lot of these financial failures have nothing to do with, you know, bad decisions or bad choices. It's just that people fall into what they were told to follow. So responsibility and accountability is about recognizing the mistake you made or the choices you made and then adjusting your actions in the future to become accountable. The example is if you are admitting responsibility to overdrafting your checking account, You continually do it week after week.
Starting point is 00:30:25 That means you're being responsible, but you're not being accountable because you're not modifying your behavior. So as a hitchhiker, hitchhikers like to climb onto someone else, climb onto some other entity or some other foundation, and then they ride the coattails. That sets them up for being disappointed.
Starting point is 00:30:49 The great example is if you join an affiliate marketing company and you help sell a company's product and then the affiliate company decides to change the terms and immediately you're out of business. We just saw this with Amazon in California when they disrupted
Starting point is 00:31:07 and they canceled 25,000 affiliates in California and people were screaming, oh my God, I use this money to help and do it do, well, within one stroke, it's gone because they were hitchhiking onto another company. I like to say, you know, you've got to stop hitchhiking. You need to be the driver.
Starting point is 00:31:26 So no one can pull those strings on you. Same happens in multi-level marketing. I was in four network marketing companies. One company I did pretty good with, but eventually it ended because the company ended up changing things. They swooped out the rug from money. Wham, within a few months, my income was gone. It's a hitchhiking relationship where someone has the power to disrupt what you're doing. and that's a formula that has a high level of risk into it,
Starting point is 00:31:56 and I suggest avoiding that. Right. You know, as this is the do-over show, the theme being taking people's hindsight and transforming it into one's foresight, you know, learning from others' mistakes, it can be a significant shortcut of sorts. Can you give at least one, more if you wish,
Starting point is 00:32:14 but can you give at least one invaluable lesson that you learn from a past failure or failed attempt, specifically the type of lesson or mistake you swear you'll never make again. Well, the worst decision I've made wasn't business related. I don't know. Do you want to hear about that? Sure. I mean, this is not a business show.
Starting point is 00:32:40 It has to do with doing over with anything. I did say it in my book, so it's not like a secret or anything. I just bought a beautiful house that I loved on the mountain, and it just needed to be remodeled. and I hired a contractor without a significant diligence check, and a six-month project turned into a three-year ordeal. I ended up getting very sick. And you know what? It was my fault.
Starting point is 00:33:09 You know, that's the responsibility accountability thing we just talked about. It was my fault. I made the decision. Who's the idiot? The idiot himself or the idiot who hires the idiot? So, you know, now in the future, you know, I do a diligence check if I'm hiring somebody. I mean, I didn't go as far as to check, you know, if I go on a date, I'll Google the woman's name. I mean, I do diligence checks now.
Starting point is 00:33:35 So, again, that was probably the worst decision I mean in my life, probably because I got sick during that process. And health is one of the main constituents of wealth. and if you don't have health, you don't have wealth. Right, right. You know, I always like to end interviews on a positive note. So, MJ, up to this point in your life, what are you most proud of? Being able to help people, being able to actually do what I love and not have to worry about money. And that's one of the fundamental differences I talk about is, you know, I can write a book,
Starting point is 00:34:13 I can reach people. I get emails every day from people saying, you've changed my life. I see things totally different now. Things are crystal clear. And I can do that without having to worry about, oh my God, I've got to sell more. I've got to do this.
Starting point is 00:34:26 I've got to do that. And that's the power of a fast lane is you can actually literally do what you love and not have to worry about the money. You can, in an example, I use as I play piano, but I suck at it. Well, I can do it because I love it. I can do it all day and not have to worry about.
Starting point is 00:34:43 about money. As soon as you enter money into an equation, what you love has the potential of returning into what you hate. And that's a distinction I want people to realize. So for me, it's just getting up every day, having freedom, not having to wake to an alarm clock, just waking up and saying, you know, what do I want to do today?
Starting point is 00:35:07 Maybe I want to blog, maybe I want to write, maybe I want an interview with a guy in California and mad. Right, right. You know, I really appreciate that. So with so much amazingness in your past, what's in your future that really excites you? The unknown.
Starting point is 00:35:28 I have no idea. That's what excites me, the unknown. I mean, I get, hey, you're going to write another book. I love your book. I say, I don't know. I didn't write it to become a guru. I didn't write it to write multiple books. I have no idea.
Starting point is 00:35:42 And that's what is so exciting to me. I could have another startup. I may just do another semi-retirement sit on my butt. I have no idea. And that's what I love. I feel as if the world is my oyster and I have all these choices available to me, and that's the beauty of it.
Starting point is 00:36:02 Uh-huh. Nice. You know, if people want to learn more about UMJ and the millionaire Fastlane, where would you recommend that they go? there's a bunch of places if they're interested in the book it's the millionaire fastling.com it's on the amazon there's like 120 reviews 130 reviews if they want to look more into it you want to learn more about the strategy without buying the book there's a lot of stuff there too the fast lane form.com is a form that is discussing the fastlane strategy and also a blog
Starting point is 00:36:34 at fastlane entrepreneurs.com so there's a lot of information out there that people can assess without actually having to buy the book if they, that's what they want to do. Got it. I'll take a note of all of those domain names and I'll put them in the show notes and attach them to this podcast. So thank you for that. Great.
Starting point is 00:36:53 Yeah. And, you know, thanks for the time. You've taken to share your story and your insight. And thank you for writing your amazing book and sharing that with us. You know, and there's just so much stuff in the book that we did not get to cover. And actually, I think I'll probably find myself referencing it. on this show for a long time to come. I hope you don't mind.
Starting point is 00:37:12 No, not at all. Very good. And I know the listeners of this show are going to have a bunch of questions for you. I mean, I'm sure they're bursting with questions. So when I get a decent collection of those questions, would it be, would you be open to coming back on the show to help me answer them? Yeah, absolutely. Sounds fun.
Starting point is 00:37:29 Awesome. Thanks a lot, MJ. You have an awesome day, and thanks for spending your time with your do-over show. You bet. Thanks, Matt. You bet. Take care. Bye-bye.
Starting point is 00:37:38 Bye. So, in case you couldn't tell, and in case I didn't quite make it clear, I love this book. And I personally think it should be required reading for young people before they make all of their life mistakes. And for older folks like me as well, so they know that they still have a chance. They can still change lanes, if they want to, of course. So next episode, I got another great guest, a great guest in the sense that I think it's safe to assume we all want freedom, yes? I mean, if you don't want freedom, then that's okay with me, it's your life, but I think it's safe to assume that's what we all want. We all want freedom.
Starting point is 00:38:15 And anyone can go out and get it, but not everyone will. And I recently met a gentleman with a very unique company that will essentially go out and get your freedom for you. And depending on the value you place on your freedom, and the price for his service, it's nominal. It's nominal because he's created a business model where other people pay for your freedom. But in a way that everybody wins. It's not a pyramid scheme, by the way. It's not multi-level marketing. And not that there's anything wrong with that.
Starting point is 00:38:44 That's just not what this is. I mean, nobody loses in his model. In fact, it's in his company's best interest that you actually get your freedom. I mean, it's really ingenious. And I can't wait to share it with you. So that's it for today. God loves you, and so do I. I am Matt, the do over guy.
Starting point is 00:39:03 And I will see you on the next episode of your duo. Thank you for tuning in to your do-over where the ignored, underestimated, and unknown steps to producing results and making life work are revealed. And remember, knowledge is potential power. Take action on what you learned today. This is not your learnover. It's your do-over. To view the resources referenced in today's show and to retrieve a complete show transcript, visit www.
Starting point is 00:39:33 www. Thedover Guy.com. Stay connected with Matt the do-over. Giverguyterio on Twitter at the doover guy and on Facebook at www. www.facebook.com slash doover guru. This podcast is a part of the C-suite radio network. For more top business podcasts, visit c-sweetradio.com.

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