Epic Real Estate Investing - The 5 R.O.I.'s You NEED to Know - Kris Krohn | 1147

Episode Date: May 24, 2021

In today’s episode, Matt is joined with Kris Krohn, an innovative REI expert, and educator, who empowers people for over a decade to grow their wealth, health, and self strength! Learn 5 ROIs that are crucial for Kris’ business, and in his own words, a most completed blueprint on how to build wealth! In addition, Matt shares COVID and cryptocurrency updates, particularly, revealing his insights on the sudden drop of Ethereum and Bitcoin. Tune in and find out more! Learn more about your ad choices. Visit megaphone.fm/adchoices

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-A's.com.

Here's Matt. Hey there, Epic Investor. It's Matt Terrio from Epic Real Estate, where we show people how to invest in real estate using more of their mind than their money, using creative real estate investing strategies, all with an emphasis on escaping the daily grind and retire in early. If this is your first time here, really glad that you found us. If you like what you hear, make sure you hit the subscribe button before you go.

And if this is not your first time here, welcome back. And thank you for sharing this with your friends and family. I really appreciate you continuing to do that. you're the absolute best for doing that. Thanks again. Now, today I got a great show for you, featuring a very special guest, one of my early mentors.

I can't wait to introduce them to you. And then I've got the news, and I've got an update on the crazy crypto market. Have you been watching? Crazy. I'll address it all. But first, today's sponsor of the show wants you to know that you've got the dream.

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empowered people to grow their wealth, health, and personal power. Through his innovative approaches to real estate investing and his powerful limitless belief breakthrough, he helps people bridge the gap between where they are and the results that they want. He's the author of three books, straight path to real estate, the conscious creator, and limitless.

He's mentored thousands of people in creating, managing, protecting, and growing wealth through innovative real estate investments and other strategies. He's an expert wealth coach with his greatest expertise found in real estate, cryptocurrency, and the blockchain. But at the center of all he does, he lives to serve those who are suffering to help them discover their greatness and command better results, results in their health, in their wealth, the relationships, and their personal power. His message to the world is, you don't have to suffer, you don't have to hurt.

you can create your masterpiece life. While he loves building up those around him and blessing their lives for good, there is no greater joy than comes from blessing the lives of his wife, Kalin, and their four children. So without further ado, please help me welcome to the show, Mr. Chris Kron. Chris, welcome to the epic real estate investing show. I appreciate it, Matt, it's been a long time, but so good to catch up, my friend. I know.

It's been a really long time, and it is good to catch up. It's good to see you. I'm interested in what you're doing. and been watching you from afar. You've been doing some really big things. I want to hear all about it. First, I just want to start off with the, I just want to acknowledge you who you've been in the world to me, you know.

I mean, you're a really smart guy. I love the way that you teach. I love the way that you educate and everybody that knows you, knows that about you. But, you know, like so many people, I got my start, was kind of inspired and ignited by the book, Rich Dad, Poor Dad, and that sent me to an education program

that used that as the cornerstone for their education. So I was really fortunate that way. And I got started with Jay Massey. We started in the exact same office and he's gone on to do some great things. And then I met Justin Yates, rest in peace, who introduced us. And at that moment, it was just kind of like you were like the perfect person for me in the next, I guess, evolution of my, of me as an entrepreneur as a real estate investor. And, you know, I've gone on to do so many other things since then. But I just always think of you as like a pivotal moment in my life.

So really appreciate you for that. I've never been able to say that to you and I just wanted to say that to you now. I appreciate that, Matt. That's the Super County. We do have some, we've got some deep history with some of the things that we've done all those years back. And it's fun to, it's fun to see how everyone evolves and morphs. Yeah. You know, what thing I was thinking about in this bugs, and that doesn't bug me, but it makes me

scratch my head to this day is that, you know, with like a Robert Kiyosaki and then, you know, I was able to share the same mindset with Jay Massey and you have very much a similar mindset, more focusing on streams of income and real estate investing. And, you know, there's not too many others like us, right? There's a lot of fix and flipper guys, a lot of wholesale guys, a friend of mine over the last couple years that we've become pretty close. Jason Hartman kind of subscribes are the same things that we do. But why do you think there's just like, you know, there's so many Dave Ramsey's and Susie Ormonds of the world and less of us? You know, it's such a good question. And I actually think about that from time to time, because I feel like actually there's like a thousand little us is.

Like there's a lot of new influencers. I think since the pandemic, like we've got better social media opportunities than ever before for people to get their voice out. And it's inspiring for me to actually see that there's a whole lot of up and coming. I think there's a much larger group of up and coming than we had a decade ago. And I think that in the next couple of years, the market's going to be flush with a lot of fresh blood and fresh messages of people that are saying, hey, this. is what's possible. Right. So you think the streams of income will is growing, that message is growing and versus the saving money, right? The 401k off your house, all the traditional stuff. Yeah, I do. I think that it is becoming, I mean, there's still this massive gap between the rich and the poor. But social media,

really, I believe, is changing the landscape where, you know, even the notion of college 10 years ago, you have to go to college. Five years ago, well, you should go to college, two years ago, you know, if you get a degree, you probably won't use it. And companies don't care. Most situations, they care if you can produce results. And now in a post-pandemic world, I feel like in the next 10 years, there's going to be a massive migration away from that. And it's not YouTube University.

It's TikTok University. It's Instagram. The education is so much less formal. And yet, I think in some ways, people are picking up sound bites everywhere that are, that are moving the needle in their individual lives. Mm-hmm. Mm-hmm. My wife and I, then, she says hello, by the way.

And we've had this conversation because, you know, I've got a 10 year old now. And she constantly is talking about him going to college and stuff. And I don't say anything in front of him. But on the side, I'm like, wait, wait, wait, we don't like, we just kind of let him choose his own path. And if he chooses the path where college is necessary, then we'll certainly support that. But you know what? Let's not force that down him because that's not what we believe. So she goes, oh, yeah, you're right.

I forgot. So it's like so ingrained and we're all so indoctrinated, you know. Yeah, 100%. I get it. Anyway, yeah, we're coming out of this nasty year of the pandemic. And, you know, we're finally seeing a big bright light at the end of the tunnel and it's feeling really good. What are some of the things that you learned about your real estate investing business during the pandemic?

You know, parts of my business had to certainly pivot. I mean, I have, for example, a convention center. And when you can't put on events, the P&Ls don't look that great, right? But, you know, when I look at the, we've done now. over a billion dollars worth of single family transactions. Today, I partner with people all over the world that meet me through social media. They look at my last, you know, several thousand purchases and they basically say, hey, this kid knows how to consistently produce 25, 35, 45% annual RIs. So I get these people coming on board and everyone wondered, you know, what, what happened

with the pandemic? Commercially, a ton of people are impacted. And I think that we're only beginning to see what that's going to look like because people don't want to go back to work, which means a lot of office buildings are going to need to go through some type of reimagining. But the real estate has been crazy through the entire experience. And now, look at this. We've got 50-year all-time low on rates. Money is cheaper than it's ever been. And yet Wall Street Journal came out two weeks ago and said, hey, y'all have been thinking

that we're missing 2.2 million homes. We're actually down 4 million. I think there's some vanity fluff in there based on people who maybe want homes that they don't truly need, maybe just want. And so in some ways, things are an all time high and we've got massive all time historic demand high. And yet the supply just isn't there. So I think that if we build, if I learned anything from 08, if we build as fast as we possibly can for five years straight, we won't even be able to like chop down half that number, which means that real estate, you know, people are wondering is this hyperinflation. What's really happening here is because the government's irresponsibly printing trillions of dollars to create its solutions like Democrats love.

of, you know, buying all the programs that we don't need. I don't have any strong feelings on that, obviously. And I look at this whole mess and I'm like, yeah, real estate prices are going to be freaking, I think that we could see median home prices nationwide surpass $500,000 just in the next few years because of this cluster of a problem that we have, which for an investor is a beautiful thing because we're problem solvers. So, you know, that's what I think has gone down since the pandemic. So all my real estate, I couldn't, I mean, I'm happy, right?

I mean, from one week to the next, hey, I made $5 million just because I own all of these appreciating assets. Mm-hmm. Mm-hmm. Yeah, I'm really taking advantage of the market right now. We've got, you know, we've got a pretty sizable portfolio, but I'm looking at all the problem to properties and some of the stuff that's given us some headaches with management or repairs. And we're dumping those for top, top dollar and being able to leverage those into nicer properties. And it's pretty amazing what we're able to do right now. It's nice.

Yeah, totally. is I was just looking at the builder confidence index, you know, and it's teetering at this all-time high. But the building starts, to your point, are nowhere even close to what they were in 2006, right? We at the, the builders stopped building in 2008 and they haven't even approached that pre-crash pace, right? And so, yeah, I see that just the appreciation continue to go up. The one issue, though, is that people bring up, and I don't know what your thoughts are on this, is just the affordability of it all. Is that where the real crisis is?

Why or why not? It will be. I mean, I do think that, you know, if you were, if we were to try to compare this to 08, right now it feels like 2006. Like every, the market is frothy. There's this. And people are wondering, is there a bubble building? And personally, I don't believe there can be a bubble until you satisfy the demand.

And we're so far away from that. So will prices keep going up. I think they will. And what will happen is until we get. really close. In fact, I'm going to go buying as hard as I can, Matt, until we hit about, I don't know, until we're missing about 400,000 homes. And when I, when I do that, I think I'm just going to start selling like crazy. There'll be another probably 50, 70,000 in appreciation. And then eventually as this bubble really forms and bursts,

I think we're going to have one of the worst bursting of bubbles that we've seen since the Great Depression because can this country really sustain, you know, 400, 500, 600,000, $600,000 median? No, California can, you know, for people that can find a way to live there and afford that, but nationwide, that's not going down. So it is going to create huge, massive problems for people everywhere. And eventually, there will be a wrecking right now. Unfortunately, consumers are, they're doing the dumb thing, man. They're just chasing the market.

Well, everyone's getting in. They bid $50,000 above. I'm going to go $60,000. And everyone's acting like real estate will never be on sale ever again. I'm like, hey, this is the time to be investing for primary residents. this might be a dumb time to be buying a home because you're going to have to tie up more capital. And unless you're super flush, man, you should be getting in on the investment opportunity in this economy because when the market eventually corrects, it's going to be bad.

I think houses are going to lose $300,000 in value. That means that all these homes are going back to the bank and someone's going to have to clean that up. And once again, it's investors to the rescue. Right. Two things that you said, you're going to keep going hard. And I'm doing the exact same thing. I just talked to someone.

I got a portfolio from an investor of 12 properties that are all cash flowing. And he's going to carry the financing. So I'm like, yes, give them all to me. Give them all to me. Give them all to me. I'll take them all. Exactly. But you said, you said you're going to go hard until we hit 400,000 homes.

What number are you referencing? I don't know what that means. I'm referencing. So what I do is I track supply and demand. And you look at where we were at after 2008. There was no building for five years. And then when building began, we had gotten to the point where we were missing about 400,000 homes. So we had gone in that space of time without building.

Population continued to increase. So the demand was increasing. We've never lowered that number month over month over month, over month, over month, until where we stand even today. In other words, builders building as much as they have, have not even been able to keep up with the new added demand, let alone the old demand. And that's why we have a historic. problem, not just with rates, but the supply demand thing. I think right now we're in the

rowing 20s, which is real estate prices going through the roof. And then I think we're going to have a Black Friday that is going to decimate the unprepared. What do you think is going to cause that Black Friday? Well, you know, we understand that, you know, three out of five crashes. There's no correlation between the stock market and the real estate market. Usually when the market, the real estate market does crash, it does trigger that in the stock market because the stock market is really flimsily built upon consumer confidence. So, when we get to a point where the bubble has to burst, which would be simple, it's like a home is worth what someone's willing to pay. When we have built more homes than we have people to move into them, that's where we have

this crisis. Because all of a sudden is like, hey, we have now extra homes. Everyone's become an investor. Everyone is building homes that they no longer need. They're hoping to get in on the next depreciation phase. And there will be a moment of reckoning where it's like, hey, we're fresh out of peeps. No one like population can't keep up with our building. And there will be this lag where there will be this, I think there'll be this horrible dropout. So when I say I'm tracking that number 400,000, that's my number saying that when we can correct the missing supply down to only needing 400,000 more homes, I'm going to become very conservative. And I'm going to start playing a very different game. I'll be playing more in commercial and multifamily than putting my focus

certainly in single family because I'm ramping up. I'm ramping up for what will happen to real estate when you see that big of a correction. It's going to feel catastrophic. There's going to be people that have spent every last penny trying to lever themselves into a $500,000 home. And then it's going to be now selling for, you know, I think the crash will be big enough that that could be going back to the bank at $200,000 or less. And if that happens, then who wants to be $300,000 upside down. When you're $100,000 upside down and people are financially struggling, they just give the house back to the bank. And banks aren't in the game of real estate, so they've got to then flooded on the market, but since there's no buyers, they have to lower the

price so much. So the decade, needless to say this decade is going to be historic. Yeah, I can see that happening. So you're seeing that once the supply catches up to the demand and people are biting off more than they can chew because they're so excited is what's going be that impetus for it. Yes, and I'll do it by numbers and I'll be out before that even happens. You know, if everyone's kind of wondering, hey, Chris, what would a non-numerical, like, approach be to know? Every one of us knows, everyone knows, like, we all are friends with someone or know of someone who's kind of skeptical in nature, right? Maybe even cynical. When that person buys real estate as an investment, run, sell everything. There's a reason why cynics continue to get

spanked and it's because they enter the game upside down. They're, they're getting in at the last possible moment after all of the juicy money's been made. And they're now participating in the risky money. Mm-hmm. Mm-hmm. Got it. Makes sense. I love talking to you.

You're so passionate about it. And you're loaded with facts and, and stories. And it's great. So in your YouTube channel, I think, is one of the best in the business. You do a really good job with that. And you're so prolific. You talk about so many different things.

and I actually accidentally run across you as a, you as a guest on other people's podcasts recently. And just like, you've got so much to say. What is there that you want to talk about more of that you don't get the opportunity to? Oh, man. You know, it's interesting. I think so often people come to me and they're like,

okay, Chris, like, give me the deal on real estate. But I've got a book coming out later this year. And I believe that it's the most complete financial blueprint that I'm aware of on how to build Well, frankly, it pigeonholes real estate as a part of a blueprint. You know, I think guys like you and I were these real estate guys that know how to make a lot of money in this vertical, but you also know that a lot of people, they're not meant for that. Like, anyone that's watching this, I, when I talk to people, I just want to know, I'm like, are you doing yourself or are you, you know, do want to be taught to fish or do you want to be given a fish?

And I think there's been a huge shift in the last decade where all of a sudden, guess what, people want fish is they don't want to know how to fish. Guys like you and I, we know how to fish. And so we can play the real estate game. So anytime someone's inspired and they say, hey, I want to, I want what you have. And I say, great, do you want to learn how to fish or do you, or do you just want the fish? Most people just want the fish. And so for that reason, I've really built out, I think more of a robust financial model. The book is about the five ROIs, not the five investments, the five RIs that everyone should be going after.

And I built the book based on what is the financial knowledge that should have been taught in high school. and what and what should that be? And basically, if I were to, do you want to take two minutes and give you like the like the old. Yeah, please, you know, I think I heard you touch on this on. We have a new mutual friend in Bradley and. Yeah, Brad.

I heard you talk about this. And I thought it was fascinating the way you laid it out. And I was like, I'm going to have to come back and let's do it again, but I never went back. So this is a great opportunity. Okay. Perfect.

Here's the idea. Everyone gets caught up in technique and strategy. And I say screw technique, screw strategy. Start with what should you be mastering in the game of money. start, start bigger picture. And for me, it all comes down to three letters, R. OI, turn on investment. If I put money out, then I should know how am I measuring that money coming back? Now, society has been like habituated into this mindset of give your money to financial people

for 401ks and IRAs and the 30 year real average after fees is going to be about a 6% return. Well, 6% on, let's call 50 grand. Let's say someone had saved up $50,000. If you own a home, you got $1,000. $50,000 of equity. So if you had that in the markets earning your 30-year average and indexes and mutual funds of boring 6%. Well, we say, how does that compound over 20 years? $50,000 over 20 years at 6% turns into $160,000.

So you basically, you know, you triple the value over 20 years. Someone might say, well, Chris, 160,000 is a lot. I would say, yeah, but can you retire on that? It's like a couple of years of living. If you put that in real estate earning 25% ROI, not 6, 25% ROI, not 6, 25 over the period of the time, that 50,000 potentially turns into $4.33 million. And so I realized people have to figure out how to exit single digit R-O-I and go double-digit. And I made a study of rich, wealthy people.

And you know what I found? They're doing the same five things. If they are doing single-digit ROI, they're doing it intelligently. I'll share what that means in a moment. Then they find a way to earn double-digit ROI because that compounds where you can double your money every two or three years, as opposed to, you know, 10, 15 years, then you have to learn how to earn triple digit ROIs, quadruple digit ROIs and even infinite ROIs. And the people that unlock all of those like you and me, Matt, we have the ability to make millions of dollars

very easily. What keeps people trapped, it's not whether they do or don't do real estate, whether they're like business or not, it's that they're stuck in a mindset where they think that single digit ROI is okay, because every financial option given. to them, whether it's an annuity of 401k, IRA, any type of financial planning, it's all rooted in single digit. And you take someone that earns four times more money than the average American and saves three times more than the average American. I got news for you. They're going to fall short two plus million dollars on what they need if they want to even just enjoy a basic six-figure residual income retirement. In other words, society's game plan just doesn't work. So I decided to

write a book and say, okay, let's not write a real estate book. Let's write a book on how do you predictably and safely produced double digit, triple digit and quadruple digit ROIs. And then for kicker, show them the fun stuff. Show them infinite ROIs, which by the way, when you buy these 12 properties and let's say that it's 100% carry back and you don't have to put anything down. And you know, if you were to you could be doing a no money down deal or a very little money down deal, you know, basically skipping the banks. It's so smart because guess what your ROI is going to be when you have nothing out of pocket.

It's huge. And yet most people. don't know how to do that. So I'm like, you know what, we're going to teach these principles. And so in the book, I basically hit my favorite source of single digit ROI is a life insurance bank account. And it's where I basically earn an average of a solid five, six, seven percent that will never get me rich, but it is untouchable money and it is tax free money. And I can borrow it. So now I move it from my single digit into my double digit, which is real estate where I'm always targeting a minimum of 25 percent. Double digit will get you rich in a lifetime.

Then you go to triple digit. This is where I teach people how to go after stocks and cryptos. And I do not mean mutual funds like S&P Boring 500 that produces, again, a single digit 30-year track record. I'm talking about employing research services to find the companies that represent the future. So you can own a piece of that future. You know, Netflix seven years ago, man, if you, if you had bought a thousand dollars worth of Netflix, today, it'd be worth over a quarter million dollars. Same with Tesla.

Same with Amazon. on. And so the question is, so I basically teach how do you actually identify the players that can own the future? And then I teach a version of asymmetric risk where you split your money up 15 ways, plan on losing two thirds of the time. But if you can get a third of your bets to earn 10,000 percent RIs like these companies are capable of over seven to 10 years, you're going to say, hey, I averaged conservatively strong triple digit RUI. Quadruple digit is when we get into the game of business because I tell everyone, hey, think about this for just a minute. You work at a company, how much do they pay you?

Did you know that whatever they pay you? Average American is $44,000. Average household joint income is $68,000 a year. Whatever you're being paid, did you know that to the company, you're an asset? They literally buy your time and they expect on average of 4X ROI. So if they pay you $50 grand a year, that company should be if they're good, if they're smart, making $200,000 a year on a contribution. If they can take eight hours of your life to make four times money on what they pay you,

then shouldn't you be able to take a fourth of the time to make the same amount of money? So I teach people how to look for side hustles and gigs and ways of with standards and business where you can be an owner versus an operator, put in little time and get your time back so you can get out of your job. If you're part of Gallup polls 86% that hate what they do for lending. Quadruple digit ROI means that you can double your money in literally, days and weeks versus years. And then finally, infinite ROI is you take your track record in real estate, you take your

track record in business, and now you bring in OPR other people's resources to do the exact same thing where you'll earn your highest uncalculatable RIs. Throw in a little bit of 10% to charity, a couple of alternative investment notions, and basically you've got a map here where if someone were to implement the first single digit and double digit R-I, they will be rich in their lifetime. If they graduate to triple and quadruple, they can be rich in a matter of years. If they add the infinite component, then they can control their entire financial destiny. And I basically just said, I'm going to write the book that I'm teaching my 15-year-old daughter. I've got three other kids as well. And this is

what I want them to learn that the school system is not designed to educate them on. It's fantastic. Thanks for breaking that down. That's one of the things I love about you. I mean, there's a lot of the similarities of everything that I'm doing over here, everything I talk about, but you just broke it down. It's just very easy to understand. And that's one of your strengths. And I think you're a gift to all those that want it for sure. With that said, you talk about all of these, the new influencers that are coming out that you've mentioned.

And there's so many gurus and educators and consultants out there. What's the one piece of information you hear commonly shared that just causes you to cringe. You know, it's interesting. First of all, I just got to say people have to know how to qualify their influencer because a lot of the new influencers, you know, TikTok, I almost got to a million followers through the pandemic just by cutting up some stuff and posting it six, seven times a day.

And I've looked at who my peers are that are doing really well. And it's amazing that some of these people, Matt, have done like three deals. They've done like eight deals. And I'm like, wow, you have to have standards. If you're not financially meeting your goals, it's because you set your sites too low. You just don't know it because no one taught you about standards. And so I have a standard. When I mentor with someone, I look at what my goal is in their industry.

And that person needs to have made between 10 and 100 times the amount of money I hope to make. And if they have a track record on that, and then if I can actually extract that knowledge effectively from them, that person is my mentor. And over the years, I've taken on billionaire mentors in that way. I've taken on people that I've paid seven figures to mentor with me because their knowledge was far too priceless. The most recent mentors that I have right now, one in particular, I gave up a chunk of one of my most valuable companies because this individual, you know, I believe is going to get me to 11 figure exit on it over the next five years. He's had 100 exits very successfully and I don't understand mergers and acquisitions the way he does. And so I'm,

frankly, it was my way of buying into, getting into the conversation and having access to a person that not just believes in a really hot idea that's growing a lot, but I'm just here to mentor and learn from this individual and it's been mind-blowing experience. So people, people should, you know, first of all, everyone needs a mentor. That's how you break the pattern in the first place. Don't, you know, books can only get you so far. School is only going to give you a career training. if you want to be successful, then study successful people and don't do it from afar. You got to get in their airspace. You just got to pick wisely, pick individuals that have track record because the bigger the track

record, the easier it will be for them to help you basically get where you're trying to go. If you're trying to mentor with someone that's like, oh, yeah, my buddy over here, you know, he did this flip last year. He made a hundred grand. You know, oh, that's my man. I'm like, dude, that guy hasn't lost his million bucks yet. So I want to mentor with someone that's not. made all the mistakes, maybe went to jail, experienced bankruptcy, because that person has insights

that the novice or the amateur just doesn't. Right. It's funny. You use some key words and just buy your way in. I mean, imagine if that was kind of maybe the message, you know, when you left high school, how different of a path that could have been for so many people. Because when you hear the cliche, it is who you know. Like, it really kind of is, right?

You know, you brand yourself with people that. are doing bigger and better things. I think it might have been you that I heard this from. I've repeated it so many times I can't remember the source of it, but we're all creatures that are vulnerable to peer pressure, right? And, you know, in high school, that kind of has a bad connotation to it. You don't want to hang around the bad kids, right? Because then you're going to become a bad kid.

But I've seen that in entrepreneurship and becoming successful, that peer pressure can go the opposite direction, right? You hang around the good kids. Like, there's good things that can happen. And yeah, when I first, dude, when I started dropping some dollars on masterminds years and years ago, you know, I went in there and I'm like, okay, I'm in this mastermind because I'm going to make a 10 next return on my money and I'm going to find people I'm going to do deals with and it's going to be awesome. I ended up making the money usually that I hope to. But what surprised me,

it wasn't that I got access to doing deals with people in the mastermind. It was the peer pressure that I wanted to learn from them, be like them, grow like. them and it made me want to execute what I was learning. It made me want to implement. And it's, it is kind of funny that the peer pressure inside that organization, I think, did far more good than the deals that came out of it. Yeah. I mean, you learn something and you hear someone's got a cool story or a cool experience. Like, well, I want to go do something cool so I can come back and share it too, right? That's 100%. Right. Great. You know, you've worked with, with so many investors over the years and I'm grateful that I was one of the, one of the early ones.

I assume. And now that I've become an educator and a teacher, I've had these observations. And you almost come, become a, just a student of human beings. And you start to get this kind of pseudo degree in psychology and what makes people tick and what makes people operate. And you start seeing it over and over and over again. You see patterns. What do you see is maybe the most significant, or maybe there's more than one, but at least one, the most significant common denominator of your students and mentees that have flourished the most? So I've, I had to learn through, I think, School of Hard Knocks that unless you address a student's psychology, that it doesn't matter if you tee up a deal and just literally put it on a silver

plate because I've done that before. I mean, I have this one partner that we have bought so many incredible amazing homes. And this person would calm me up every too much, just worry, This was the worst thing I've ever done. And I'm so worried and what's going to happen? I'm like, brother, what are you smoking? What is going on with you? Your mind is so jacked. I said, I refuse to take one more phone call from you until you come to my event for four days where I can

freaking like step in here and fix this thing because it's broken. And it's the idea, Matt, that you're aware of a limiting beliefs. We have these barometers. We have these ceilings. You know, some people, you know, can you imagine? Right now I'm considering a reality TV show where I, I, go up against Dolph DeRuse and Robert Allen. We each pick a student and that student has us as their lifeline. And while we hang out at a resort for a week and play golf and everything, we have these

students in these cities trying to make these no money down deals happen. And I'm like, man, how would you pick a student that you know absolutely would be successful? What if you found out that this person said all the right things but didn't believe a deal is possible? You know, our beliefs are what hold us back the most. And so I ended up writing a book about it called Limitless that basically says, here's a daily ritual for finding a limiting belief. I've done this process five thousand times over a decade. And when you find it, how do you actually change the neural pathway from something negative, the positive, to actually lift the ceiling and make more abundance and possibility happen? And that book, I think, is probably the hallmark difference in my students' lives. And I

just did a call with one of them today, which was just literally, what's the limiting belief holding you back? Does that serve you? What do you need to believe instead? Because frankly, we're just, we're self-fulfilling prophecies. You know, the placebo effect, 73% of everything is placebo, which means if you just freaking believe it, it's amazing what we can manifest, the power of belief in here. So if we're actually, if we got all the stinking thinking that's going against the grain of what we're trying to produce, it will prevail. Do we can sabotage the best deals with our mindset just to keep our. poor, even though we claim we want to be rich. So I think that people have to address and create

the mind shifts that will allow them to have the level of abundance, not that they hope for. That's what they're going to have to do if they really are serious about it. The beliefs. It's such an intangible thing, too, but it's, I think you're right on the money. It's, it's the beginning of everything, right? Whatever else you could say that would be the common denominator. It all still begins with the belief that has to be there first. Perfect. It's been a pleasure, Chris. I just, let's not stay away so long next time. Okay.

I like that. That's, yeah. No problem, my friend. What do you got in the future that you're most excited about? I know you mentioned to the book. Is that it? Is there something even bigger? No, I mean, right now, I think what I'm most excited about is we're launching a media

company and I found a way to duplicate, you know, I'm producing about 700 pieces of content a week, 100 pieces a day. I got a team that does all that. And I feel blessed because it's led to millions and millions, millions of views every a week because my mission, not more rich, my mission is to financially educate people and lift them up. And so I basically figured out my strategy is very duplicatable. And so right now I'm hand-selecting 25 of the most brilliant financial minds of the world today, good people, good character. And I'm amplifying their message the same way. And so my goal over the next five years is to

produce 100 million views a day so that we can just bless the world with impact that will really help people finally get the missing nuggets on their financial education. education. That's awesome. That's why I like you, dude. Big thinker with a great message and a big heart. If people wanted to get in touch with you, what would be the best way for them to do that? You know, probably just spell my name wrong.

That won't take you anywhere. But if you could spell it right, Chris Crone, K-R-I-S, K-R-O-H-N, just Google it. Go to any of my website. On any of my YouTube channels or wherever my books and everything are always for free because I believe that knowledge applied as power. and so we're putting as much of it out there as possible. Perfect. Well, thanks for being here.

Congrats on all your success and peace and blessings to you in the future. And let's stay in touch. I appreciate you. Absolutely, brother. I'm looking forward to it. Thank you. All right. Take care, bye.

Bye. Okay. I'll be back with the news right after this. When you go to work for your money, does it return the favor? If not, no worries. You do not have a money problem. You merely have an idea problem. We're cash flow savvy.com.

and we'd like to share a new idea with you around income real estate that can transform your financial future and accelerate its arrival. Go to cashflow savvy.com and download a free investors package. Cashflow savvy.com. You do not have a money problem, merely an idea problem. Cashflow savvy.com. More ideas, less worries. Cashflow savvy.com. In the news this week, no more masks for the vaccinated. Didn't think we'd ever see this day. I can't believe it's here. But it hasn't been. been a good couple of weeks for our new president, and one can't help but to think this was a political move. Or rather, the prolonged use of masks was the political move. We needed some good news.

We needed to get some good news from the White House and there it is. Either way, it's nice to breathe again. It's nice to see faces again. You know, Dr. Scott Atlas, he's a former COVID advisor for the Trump administration, who was regularly met with snarky comments from mainstream media doing everything that they could possibly do to discredit him. And they effectively canceled him. Turns out he was right all along. In a statement yesterday, he said Fauci and the CDC's inconsistent guidance has tremendously damaged a fearful public.

And he went on to slam public health experts over egregious mask rules. They are really saying almost nonsense at this point. Agreed. I mean, the truth, it always prevails, right? And eventually, Nancy Pelosi will come to grips that her now defying. the science, it's not going to play out well. And I think she's going to find herself on the wrong side of history with this. But maybe not. I don't know. At this point, she's capable of just about anything except taking responsibility for anything. Further, Dr. Fauci finally admits to wearing his mask

for looks after months of debate with Senator Rand Paul, who has continuously pointed out that the doctor's mask wearing was nothing more than theater. Again, the truth prevails. And in the markets, tech stocks helped the major U.S. indexes break a three-day losing streak yesterday, but the S&P is still on track for its second straight weekly loss. Virgin Galactic shares rose after the space tourism company announced that its mothership Eve is cleared for a test flight this Saturday. But the real action this past week was in crypto, which I'll get to later. And in the economy, minutes from the Fed's meeting in April show that a number of officials seemed ready to roll back some of the central banks pandemic era stimulus measures.

But that was before the big job report missed, which may have changed calculations. New jobless claims fell to another pandemic era low of $44,000 last week. Relatedly, 22 states, all with GOV governors and state legislatures, will stop distributing the $300 a week in extra unemployment benefits provided by the federal government beginning in June. Time to get off our duffs, time to get back to work. And in an extravagant event this week, Ford unveiled its all-electric F-150 lightning. The F-150 has been America's top-selling vehicle for decades, and there's a lot more riding on it than a bunch of teens coming in from a long day of loading hay bales.

Speaking on Tuesday at a Ford plant in Michigan, President Biden used the release of the new F-150 to drum up support for his proposed $2.3 trillion infrastructure plan, specifically the part that allocates $100-plus billion to electric vehicle manufacturing and battery development. As of just moments ago, however, the White House cut the infrastructure plan to $1.7 trillion. And that's still a far cry from what the GOP was seeking, but it's progress and it's not final. More to come on that, I'm sure.

But the reveal of the F-150 Lightning, whose base model starts near $40,000 is a watershed moment in the auto industry's dramatic pivot to electric. Since electric vehicles are sometimes considered the domain of the Berkeley crowd, Ford hopes that an electric version of the ubiquitous F-150 could change perceptions. So looking ahead, transportation contributes 29% to the U.S. total emissions per the EPA, but an electric truck won't lower that number if no one wants to drive it. So this is a crucial test that awaits Ford. Target picked up what other retailers were putting down,

growing sales over 23% and apparel sales more than 60%. New chicken sandwich alert, Burger King is rolling out its Chikin sandwich on June 3rd. Robin Hood wants to clear up any hard feelings left over from January and yesterday announced that it's rolling out a feature that allows users to access exclusive IPO shares. It touts this new service as another step in its mission to increase regular folks access to the stock market. Luxury gym operator Equinox said new membership sales in New York City increased 55% the week following the CDC's relaxation of mask requirements. Equinox no longer requires its members to wear masks while exercising, but still insists on mirror selfie's post-workout. That's same here in Las Vegas at the Las Vegas at the club where I work out. No more excuses now to skip cardio.

It's serious business. Getting ready for summer, a little bit late, but we're going for it. Fed Chairman Jerome Powell said that his organization will explore issuing a central bank digital currency, a CBDC is what we call it, Central Bank Digital Currency, which rivals, including China, are actively developing. The Fed will release a report this summer on the viability of CBDCs, Central Bank Digital currencies. Morgan Stanley shuffled its leadership and gave more clarity on who will succeed CEO James Gorman. Execs Ted Pick and Andy Saperstein are looking like strong contenders.

The Biden administration outlined its plan to collect an additional $700 billion in revenue over the next decade from tax avoiders. So you will pay your fair share. As you look deeper into this plan, though, it's not limited to just the rich. So prepare your taxes wisely as part of this plan is a deeper look into your bank account using artificial intelligence. And also a small army of brand new audit hungry auditors are watching as well. The U.S. government seized 68 big cats from the animal park featured on Netflix, Tiger King.

And the flagrant hypocrisy of the week, as President Biden gave a big thumbs down to oil jobs here in the U.S. when he shut down the Keystone Pipeline only minutes after taking office. He gives a big thumbs up to Russian oil jobs as he approves the completion of the Nord Stream 2 gas pipeline to Germany. So the America last movement continues. The midterm elections of 2022 can't get here fast enough. And that's this week in the news. Now for this week in crypto. So if you weren't watching, many cryptocurrencies crash. crashed this past week, including the big two. Bitcoin's value fell to nearly $30,000 per coin down from over $50,000 just a week ago,

before bouncing back to about $38,000. As of this recording, we're now hovering right around $35,000. And Ethereum, the second largest crypto, slid from over $3350 to about $1,900 before also ticking back up. And right now, I think we're sitting right at $2,400 per coin. So during the plunge, both cryptos hit their lowest. levels since January and experienced one-day drops not seen since March of last year. So why did this happen?

Well, there's a few things. On Tuesday, the People's Bank of China reminded financial institutions that they cannot conduct business with cryptocurrencies following China's 2017 ban of Bitcoin exchanges. It added that virtual currency is not a real currency and called recent surges in the space speculation. Investors interpreted as an omen of future government regulation. on crypto and not just in China. Just for the record, they made no new announcement.

They just reminded people of the announcement that they made in 2017, but that was enough to send all the newbies in the crypto space running for the hills. Some other reasons investors could be hopping off the crypto coaster. New crypto investors may have learned Monday that the IRS treats cryptocurrency as property, not currency, and taxes it as such. Then Elon Musk, who can send crypto prices soaring or dipping, with the stroke of a key, made Bitcoin boosters nervous when he said last week that Tesla would no longer take Bitcoin as payment due to environmental concerns, which has been debunked, by the way.

So if you heard that and you believe that, it is false. Too much to go into right now, but understand that it is false. But yesterday, amid the market chaos, Musk confirmed his support for Bitcoin with a tweet, Tesla has diamond hands. So that's an expression inside of crypto. I'm learning all these new things all the time. But diamond hands just means you are holding onto it and you are not going to sell. And this is really collectively what I just went through is what's called FUD.

Another new expression you're probably going to hear over and over and over again. So this is news of fear, uncertainty, and doubt, often shortened to FUD. It's a propaganda tactic used in sales and marketing and public relations, politics, polling, and cults. FUD is generally a strategy to influence perception by disseminating negative and dubious or false information and a manifestation of the appeal to fear. And it's become prevalent in the cryptocurrency space and quite effectively at that. So get used to it, but don't fall for it.

So with that said, as bad as this week was for cryptocurrency, let's keep it in perspective. We're still up 400% from this time last year. So I am mad at that. And to address the disastrous week for crypto, I want to read you an email from Mike Dillard. He's someone that I've followed for years. I followed his podcast.

And I've followed him from, he's been on multiple platforms. And I've followed him for a while. Really good business guy. It just seems like a normal everyday dude. And so I really resonate with that. And so I'm just going to read you this from him, of which I hope he's going to actually join us as a guest next week. I've got him on the calendar, but the calendar is not working correctly.

So I just want to make sure that our calendars are aligned. But if it's not next week, it'll probably be the following week. All right. So, but for now, he writes, as you can imagine, I've been getting flooded with messages asking me about what's happening in the crypto market and what I'm personally doing. So I thought I'd send this quick update. Am I panicking? Nope. Am I stressed out? Nope. Do I think the bull market is over? Nope. As I mentioned many times, crypto is speculative and very volatile. Massive drops like this are nothing new for people who've been in this market for more than a few years. I can certainly

attest to that. It was nothing new, nothing I haven't seen before. So if you are stressed and freaking out, then that means two things. One, you don't understand why you invested in this asset class in the first place and you're treating it like a casino. And or two, you invested too much money. And events like these are designed to get newbies to panic sell at the bottom so the veterans can buy in and accumulate more. I wouldn't call myself a veteran, but that's exactly what I did when it fell as I was able

to buy a little bit more. So do not buy high and sell low at a loss. I haven't sold a single holding and have no plan. plans to do so. Why? Because nothing about the overall asset class has changed. Crypto assets and decentralized applications are the future. This industry is the future. The only thing that has changed is this week's price action. So with that being said, it's easy to think. I'll sell now and just buy back in lower. But unless you are an expert at technical analysis, you're taking a huge risk. I've tried that in the past and I've lost money every single time. And I'll just chime in here really quickly.

Me too, by the way. I haven't made a single sale that I didn't regret. So if you're going to get in, don't sell. So now when moments like this happen, I do two things. I use it as an opportunity to buy more or I simply sit and do nothing. I purchased more Bitcoin two days ago and I'll be purchasing more a little bit at a time over the days to come. So will Bitcoin and Ethereum continue to drop? Maybe.

And if so, I'll be thrilled because that means my favorite asset class in the world is on sale. It's also important to know that I'm not investing money that I can't afford to lose, which is why drops like this don't affect me emotionally. If you had been wishing for a drop so you could buy some of these assets at a great price, this is your chance. Ultimately, I have no idea what the price will do in the days and weeks to come, but I do know that we're still at the very beginning of the birth of an industry that is changing every industry in the world. And with that, that is this week in crypto. And that's the show. And if you found this episode valuable, Who else do you know that might too?

There's a good chance you know someone else who would. And when their name comes to mind, please share it with them. And ask them to click the subscribe button when they get here, and I'll take great care of them. That's it for today. God loves you. And so do I. Health, peace, blessings, and success to you. I'm Matt Terrio, living the dream.

Yeah, yeah, we got the cash flow. Yeah, yeah, we got the cash flow. Yeah, yeah, we got the cash flow. You didn't know, home boy, we got the cash flow. This podcast is a part of the sales flow. C-suite Radio Network. For more top business podcasts, visit c-sweetradio.com.