The Money Mondays - Codie Sanchez & Pace Morby on Making Money Fast 💸 E29

Episode Date: August 7, 2023

Codie Sanchez is an experienced investor, entrepreneur, and YouTuber with a passion for empowering others achieve financial freedom. She is the founder of Contrarian Capital - a portfolio of "boring" businesses that do over $50 million+ in revenue... from businesses you’ve never heard of like carwashes, laundromats and everyday shops..  @CodieSanchezCT  also runs a successful YouTube channel with over 625k subscribers, sharing her insights on business flipping, investing, entrepreneurship, and personal finance with a wide audience. She spent 15+ years on Wall Street and in private equity investing hundreds and millions of dollars but got burned out before moving into business acquisitions and shares her secrets in money making and business building through stories of those who didn't want to do 9 to 5 grind. --- Pace Morby is a real estate investor, entrepreneur, and educator with a real estate portfolio worth over $150M. He has built a successful career by investing in distressed properties, rehabbing them, and then selling or renting them out.  @PaceMorby  is also the founder of several real estate-related businesses, including a real estate brokerage firm and an online platform that provides education and resources for real estate investors. He also runs a successful YouTube channel with over 175k subscribers. In addition to his entrepreneurial ventures, Pace is also a sought-after speaker and educator in the real estate community, regularly hosting workshops and events. He is known for his no-nonsense approach to real estate investing and helping others achieve financial freedom. Like this episode? Watch more like it 👇 Watch ALL Full Episodes Here: https://www.youtube.com/playlist?list=PLs0D-M5aH-0IOUKtQPKts-VZfO55mfH6k --- The Money Mondays is a business podcast here to teach you how to make money, invest money, and donate money by showcasing some of the world's most successful people and how they do the same. Hosted by serial entrepreneur Dan Fleyshman, the youngest founder of a publicly traded company in history, this money podcast gives you an exclusive behind the scenes look at how the wealthiest celebrities, entrepreneurs, athletes and influencers make, invest and donate money. If you want to learn more business and investing while you work to improve your financial life, you're in the right place! Subscribe for new weekly episodes: https://www.youtube.com/@themoneymondays?sub_confirmation=1 Dan Fleyshman, The Money Mondays Learn more here: https://themoneymondays.com Watch all the podcast episodes: https://youtube.com/playlist?list=PLs0D-M5aH-0IOUKtQPKts-VZfO55mfH6k Subscribe for new weekly videos: https://www.youtube.com/@DanFleyshman?sub_confirmation=1 Let’s Connect... Website: https://themoneymondays.com Podcast: https://podcasts.apple.com/us/podcast/the-money-mondays/id1663564091 Twitter: https://twitter.com/themoneymondays LinkedIn: https://www.linkedin.com/company/the-money-mondays/about/ TikTok: https://tiktok.com/@themoneymondays FB: https://www.facebook.com/The-Money-Mondays-110233585203220/

Ladies and gentlemen, welcome to a very special edition of the Money Mondays. We have packed jammed this place more than we've ever done in our history because we got Cody Sanchez and pace Warby in the same building at the same time. And the real Tarzan's here at the same time. We had to do a quick episode of the real Tarzan. It's going to be like 28 minutes and 32 seconds to combine. Normally we do 40 minute episodes because the average workout is 45 minutes. The average commute is 45 minutes.

That's why we always do 40 minute episodes, but today, 28 minutes and 26 seconds is probably what we're gonna do here today. So please give a one round of applause for the real Tarzan, pace morbid and Cody Sanchez. Woo! That's why. If this is on YouTube, everybody needs to make a comment about what animal you think Tarzan is. We talked about it beforehand, what animal you think Dan is, and now we haven't talked

about this, but what animal do we think Cody is? Wrong answer is only, you know. Wrong answer is only. But what about you? Yeah. I don't know. That's a good question. Nobody cares.

Alright guys, so the way these episodes work and the reason we are the number one entrepreneur podcast for 121 days in a row is we don't do fluff. We're not going to do long bios. We're not going to do blah, blah, blah, blah, blah. We go straight into the money. We talk about how to make money, how to save money, how to invest money, and how to give it a way to charity. So let's start off with pace more. How can people out there make some money or save some money? Make some money. You can immediately, immediately, man, there's so many ways to make money. I'm actually copying a lot of what Cody is doing right now.

I'm buying a couple of businesses in the last 90 days. A business you refer to me to, we just bought 50% of. That was easy one day, own 50% of the business. bought another business a couple of days ago, zero down. It's a construction company. Family says, we want to move to North Carolina. We want to leave all of our clients behind and our pipeline is full for like seven months.

And they go, but we don't want our brand to fall and we don't want to leave our clients high and dry. And we go, we'll take over your business. And so took that over and that company nets 25 grand a month. I don't have to put an operate net, net, net, everything. 25 grand a month, $0 down. And the lady will stay on virtually for about six months and just help You know transition and she already has the person to operate that's gonna fill that spot

But they're not entrepreneurial so we'll come in and manage the operator and we'll probably make after we pay that person 10 grain out of the net We'll make about 15 grand a month right out of gate Cody Sanchez What are some ways that people can make money or save money? Cody Sanchez, what are some ways that people can make money or save money? Pace stole mine. Well, yeah, I told you, I give you credit. I still, I'd answer that. I still a lot of stuff from Cody.

Double-Stand-Verify. I emulate her. Same. How about this? Right now, I'm really interested in media accelerated businesses, is what I'm calling them. So I think it takes like a little bit, like a 2.0 level operator to handle a big construction business. You got to be on site. There's equipment.

It's a little bit scarier. But now there are all these businesses that are online that you can accelerate. Now I like to buy them. I just bought a 15% of a company called Viral Cuts. And basically, I looked at my personal PNL. So what do I spend each month and what do I make each month? And I found this one company where spending so much money on video production, all of this stuff. And I hate that, I'm cheap and I like to spend money.

What if I owned part of that company instead and then I erase my liabilities, I turn them into an asset. So this is an internet enabled company in that they use outsourced Filipino VAs that do the video production for us. And my natural content that I do every single day is videos. So at the end of any video that viral cuts does for me, I just put at use viral cuts, I never have to sell. I'm never really talking about this business

and all of a sudden the business is now doing, let's call it, you know, 107K a month after 45 days of launch. And we're gonna edit that to a clip and they're gonna, 107K a month after 45 days of launch. And we're going to edit that to a clip and they're going to do 107K a week. Yeah. Oh, yes, yes, yes, yes. So, and you don't have to accelerate it as fast as we do. Like, start out with the business that you buy into,

that you feed some new clients to, that you make 500 bucks a week or 500 bucks a month. Everything we're talking about with big numbers is just scale. Same game, different level. Really, really smart. So, somebody joked around, they said, REI stands for real estate investing, right? What she's talking about is REI's replace expenses with income. So think about this. So if you're a real estate agent, already you have a job, you're referring business to a local title and

escrow company. They will pay you marketing fees and all sorts of things back. You could go to them. This is how we got ownership of our escrow company. They will pay you marketing fees and all sorts of things back. You could go to them. This is how we got ownership of our first title company. This is really smart. She's so smart. Is I just went to the title company I go. Instead of you guys paying me a referral fee, can I just have equity in the business

and everything that I grow past your certain amount of files, I get ownership of everything else above there. And you can carve yourself out ownership in these companies pretty quickly. The real tires in, you get 200 million views a month. Damn, there's a lot of influencers that get 200 views, 2000 views, 20,000 views, 200,000 views. Very few humans can get 200 million views.

Talk to the people that are out there getting 2000 views, 10,000 views, 20,000 views. How can they make a little bit extra money each month? Well, first of all, the algorithm is like a tide. You know, if you see, if you think of this fish swimming right and the tide's coming in, it's going out. A lot of content, a lot of views. Mm, it's a press to algorithm. A lot of content, a lot of views.

Just keep going with the flow. When the tide's low, don't try to post and do extra go against the tidal wave. You know, when it's there, let it be. When it goes back up, execute. So when there's 200 views or 2000 views and there's 2000 views or 20,000 views, see it, monetize on it, keep that quality content up. And invest in a quality content you put out. You know, a lot of people that get discouraged when they see low numbers, I see low numbers all the time, repost those videos when you get more traction and see how much better it does.

It's interesting. Just like re-ignect your social media ego. When I first started, I had a video that had 700 views. And I was like, bro, that's a lot. But I would see people that have like 7 million or 7000. I remember reposting it. And I got like 17,000, I was so happy. But someone else reposted it.

And I got like 700,000 in 24 hours. And I'm like, OK, what I'm doing is not wrong. So whatever you're doing out there, and if you feel like you're not reaching a lot of people, you're not doing anything wrong. It's just the timing of the tide. Go with the flow. Don't fight against it.

Just. What's your favorite platform? I like YouTube because I'm able to express myself and also give the animals the justice they need with descriptions and their personalities and their mental stability and their state of mind and how they survive. And just give people real insight. With short format content you're just getting the ooze and the a's and

the mistrikes and the cool like you know quick attention span type of things but with YouTube you know I can post a video for 20 minutes or an hour long and like whether I get a hundred thousand views or a million views I just feel good that people that can actually see what's being said and see the animal in this natural state or it's captive state, but I can basically explain everything and get it off my chest. Yeah. Because I have a lot to say, but I can't say it in like 15 seconds or 30 seconds or 90 seconds. So what Tarzan is talking about an algorithm getting suppressed or a platform suppressing

is due to the fact that these are for-profit platforms that we are using for free. So we get mad like, oh man, the platform, they're suppressing us due to the fact that these are for profit platforms that we are using for free. So we get mad like, oh man, the platform, they're suppressing us, they're constricting us, and we're not getting as many views, we're not getting as many likes, they are for profit business that we get to use for free. You have no way to spend money to pay for Instagram, Facebook, LinkedIn, Snapchat, TikTok, threads, etc. There's nothing for you to spend money on. So they have to make money from advertisements.

How do they do that? By getting people to spend money on. So they have to make money from advertisements. How do they do that? By getting people to spend money to get more reach. Now, if you are a small content creator or a small business or a small brand, once you start spending money on the platform, they want you to continue to spend money on the platform. And so what I say is it's good for it. You can do it, but make sure if you're gonna spend 10 bucks

a day, 20 bucks a day, 50 bucks a day, you're gonna plan to do this forever because once you stop, you've never seen suppression but make sure if you're gonna spend 10 bucks a day, 20 bucks a day, 50 bucks a day, you're gonna plan to do this forever, because once you stop, you've never seen suppression like what happens after you stop spending money with a big platform. Now, next thing, sometimes you're gonna do a post on TikTok or Facebook or Instagram or thread, et cetera, and it's gonna do 300 views, 500 views, et cetera.

I'll give you a real life example. A few weeks ago Tim Grover and I did a video about Michael Jordan versus LeBron James. Post on TikTok, I got like 600 views. Post on Facebook, 200 views. Post on Instagram, I have 5.4 million views and growing 300,000 every few days. Interesting. Now, am I going to stop posting on TikTok? No, because the vice versa happened there.

I post on Instagram a video, I got 20,000 views on TikTok at us 3 million So the concept is you want to be cross-platform to build what's called omnipresence You want to be popping up the way you see pace more being Cody Sanchez and Tarzan you see them on a podcast They're on Instagram. They're not threads and on Facebook. They're on LinkedIn and on YouTube You want to be popping up what's called omnipresence because you don't know know which platform is going to take off, and you don't know where your viewer lives, meaning if Cody loves Twitter, and you're only posting an Instagram, she might not see you, because she loves Twitter.

If Tara's ends obsessed with threads right now, and you're not posting there, she's not going to see you. You want to make sure that if PaceMorbid likes a platform like YouTube, and you're not there, well, you're going to miss out. So make sure to build what's called Omni Presence by being on all the platforms, even if you only like one platform, repurpose that content across every other major platform.

All right. Next question. We got it. We got to knock this one out. Place more be. Someone just got into making some money. They had an exit. Maybe someone passed away.

Maybe they got a divorce settlement. Maybe they got something from their friends' family, they had a bar mitzvah, something happened, they got a bunch of money, all of a sudden, and they don't know what to do with this 50 grand or 100 grand that they just came into. What the heck can they do when they actually have some money

outside of sub two financing? Outside of sub two, I love that. So I tell people all the time when they're trying to get into investing, they should invest in somebody else's deal, because it's not even about the ROI, right? People get stuck talking about oh You're gonna get a 20% IRR who cares about the return what you're gonna get if you invest in somebody else's deal if I invest in one of her funds

I'm getting it watch her in action on a real life tangible deal I'll get an education that's far more valuable than any return. I'll get and then on top of it Of course, I'll get a return so for me also, also, I operate, I negotiate the best deals, I get the best deals when I have no money. So when I get 50 grand from a divorce settlement, having for bid, I deploy that 50 grand into Cody's deal, now I have no money, guess what? Now I'm forced to learn, I'm forced to operate

with my back against the wall, and that's where I operate the best. So I would invest in somebody else's deal, somebody else's fund. Cody Sanchez, you've built up this newsletter with hundreds of thousands of people in it. Why is it important for people to subscribe to newsletters like yours or specifically yours? Why should they be out there learning? Why is that important?

I like newsletters in particular because you can go deep on a subject. You know, all the stuff that we're talking about with Instagram and TikTok, etc., they're surface level. It's really a retention hook. We're trying to get your attention and order, hopefully, get you into our ecosystem for you to learn more. Something like a newsletter, I think, is a gateway drug to Read&A Book, which is a gateway drug to really deep learning on a subject matter.

And so, with our newsletter, you'll see it's, it's like, 3,000 words. These aren't short newsletters. And the reason why is because I actually believe that humans want to learn the algorithms and a lot of the social media puts a attention restriction on our attention because they want us to be watching something, buying something, watching something, buying something, they want it to move fast. And that's not what's best for you, that's what's best for the companies. So that's why you should read newsletters and you should read books and you should do long-form content because that's where you learn real ideas as opposed to

clickbait surface level info. Based more but you have thousands and thousands and thousands of people in your community. You throw these pop-up events and 400 people show up, 11 hundred people show up, 200 people show up, 700 people show up. How do you build up this community and why is community important to you and to the community? Community is so important because the people in your community will fill in the gaps in your own business, your personality, whatever deficiency you have, somebody else has that efficiency. And so what people do is they think, I have to go into business or I have to go do something on my own.

I grew up in a family of 12 children. So I grew up with community and when I went into the business world and I was trying to collaborate with other business owners, I was like, what are you doing? This is competition. So I was like, man, I really need something more like a family atmosphere. So community provides that family atmosphere where like when I'm 15 and I have a job,

my sister who's 16 would say, hey, do you need a right to work? Yes. And she would ask me before I asked her, right? That's what community is. People noticing your problems, your faults, your your shortcomings and then coming with their resources to solve that problem So that's why community is so incredibly important Tarzan so many people want to get famous

Talk to us about the reality of I've watched it happen We're going to airport or somewhere and there's 45 people trying to get a selfie with you Talked us about fame because code is getting like 30 40 million views I don't know the number anymore 30 40 million views a month pays as I can't and I ungodly amount of people watching him like You're getting 200 million views. You just think about collecting at this table. That's hundreds and hundreds of millions of views Talked about the reality of fame and what people should be looking out for if they do happen to get a bit famous Sit some earlier. He's like what what before do people call me like, shake everybody's hand, give everybody a selfie, that's it.

Everybody I see outside of like being in like the restroom, I shake everybody's hand, give everybody genuine attention, talk everybody because those are our fans that made us who we are today. So when you get famous or you get this traction or all these big community, you have to embrace it because one day it could be gone. But if you take care of it, if you nurture it, if you water it, it's gonna take care of you

for a long time. So being famous, it comes with a lot of, you can call it a headache overwhelming sometimes, but look at the bright side. You could be walking around and no one knows about your business at all, no one knows about your content at all, or one knows about your content at all. Or luckily and unfortunately, time in this era, people know about what we do.

You know, so I feel like we really should appreciate our fans. And I don't even like calling my friends, I mean, my fans, my fans, I call them like my family, you know, because they help me get to where I'm at and also where I want to go. So like, I treat them as if I would treat my family members and everybody's so respectful and I'm always so respectful back to them. So I just love it. You know, I embrace it. And it's one of the coolest things ever happened to me to be able to be from like an animal guy and an introvert and just like an animal. So now I'm being like anti-sholesu to being like social. And I love it. You know, it's cool. Since you're like a cheat cheat is he a tiger or a cheetah?

I said tiger so if you're a tiger do tigers have a pack no, they're solitary creatures Apex predators interesting yeah These people are like your pack though. Yeah, yeah, they take good care of me man You know everybody has their good days and bad days, you know So there's times where like I found the issues are like personal stuff going on or animal pass away Nobody knows about and I'm like so down and someone be like dude, or be old lady like oh my god Me my grandson watch stuff, you know Talk me for a minute. You like photos stuff and it's like it just brings you all the way up to like a whole new level of

Happiness, you know, so I can say that it's always someone around the corner or somewhere walking deep in the mountain or someone at the airport You know, they're always like same especially the airport You know and even when I'm like running late somewhere and I'm like bro, I got a go But like come on, he's like rock is like running with us. Obviously way from their flight So it's it's cool man. It's really cool and I love it pace morbby I have never seen anybody go live on social media more than you in human history. Why the heck do you do it? How does it work?

What's happening? Talk us through it. I feel like it's the fastest way to connect with people and really truly tell a story. And what happens a lot of times I go on the podcast like this one, and somebody will ask me a question of my DMs and I'm like, oh my gosh, I can't answer that in a one minute voice memo back to you

in Instagram story or Instagram DMs. So I have this weird anxiety that forces me to go answer a question. My average time to answer a question is 42 minutes. My team did the math. They're like it takes you 42 minutes because I like to give the context in the story and how this should blah blah blah blah and then the next steps. So I just get anxiety when I get people too short of answers. Cody Sanchez, you've heard me say this plenty of times. Obviously, when we did our first podcast together, you have hands down my number one favorite content

and all of social media. Stop. Don't tell Tanner, he's going to ask for a raise over there. Tanner, ask for a raise over there. Why do you spend so much time in the quality of the content, rather than just putting out content, like, why is it quantity over quality? We have a saying in our team at Contrary in Thinking that imagine what we say

turn the Monday and into masterpieces. So we have a belief that what if like the person that you idolize, the person that you look up more than anybody else in the world, what if this one thing that we did is all they'll ever see from you? And so we think about that a lot. And Andy for Stella, a bunch of our friends all say the how you do anything is how you do everything. And we try to live by that. It's this balance, right?

Nobody's perfect, 100%. But I really try to think about every piece of content we put out. If I put this in front of my idol, the Elon Musk of the business world, I would hope that it would make them think. I would hope it would stop them for a moment. So we don't always hit that, but that's at least what we're shooting for. I feel like you hit that.

Oh. Yes, you do. Now you guys are too nice. Charity. Uh, you know, we talk about three main topics here. Today we went a little bit off topics to talk about generalizations of social media, business, content, etc. Because we're on a 28-minute and 23-second episode.

I'm just guessing, by the way, peace. On the charity side, why is it important for people to add a charity component to their personal life or to their business life? I was sitting down with a very, very famous person in Tony Robbins and we were asking questions and having this personal three hour time with him. And the person I could tell you their name in you, Beck, wow, this is a big name. They said, Tony, I no longer feel fulfilled. And Tony dove in and said, well, you make this much money, you've accomplished this, tell me all the things that you've done in your life.

And he gets him to spill all the beans. And I watched Tony just set this guy up and he goes, but what about charity? Because once you accomplish everything financially, it's like, what's the next goal? You're not making any impact and this money becomes obsolete, like not obsolete, but it becomes vacant and devoid of human emotion. So it's important for you to have a goal above and beyond money, right?

And you want to be as human beings, you want to help other human beings, right? That's all we want to do. And when you have the baseline of, I don't have enough money, that's hard to get past that. But when you get past the point of not being able to pay your bills, the number one motivating thing that keeps your whole entire family unit and your company unit and everybody excited is that they have a common goal of helping other people. So charity is

critical, crucial. So I've passionately integrated charity into my whole world for the last decade. Right? I was throwing charity events in the my whole world for the last decade. I was throwing charity events in the past, but really the last decade in particular, I'm obsessed. For a couple of reasons. One, the actual charity of itself, I want to do the actual thing. And I like very simple charities that are not trying to cure cancer and cure AIDS, because I think they've been cured for many, many years. That's a different ribo hole.

And I can't raise billions of dollars to actually go cure the thing if they weren't cured. And I think they've been cured for many many years, that's a different ribo hole, and I can't raise billions of dollars to actually go cure the thing if they weren't cured, and I think they've been cured. So, I wanted things like making backpacks for the homeless. Model citizen fund, we put 150 items inside of backpack, half food and drinks, half cleaning supplies, a watch, a poncho, sleeping bag, just things that people would need for homeless. We give up millions and millions and millions of items to a model citizen fund. So 0% charity, I pay for everything. It's a very clean cut thing. Then we did Treeness Kids Foundation. We're back to school day. We're all the kids. There's about 400 Latin families come to Hubbo Studio and downtown LA. And then we give them back to school supplies. We have report card day where they can get

prizes based on their grades and their report card to incentivize them to work hard. Thanks for giving food drive, that one's obvious. And then the toy drive, last year, we broke the Guinness Book World Records for the largest toy driving history. Nine years ago, there was eight of us on the floor, wrapping toys. Eight years ago, there was 12 of us, then 20 of us.

And we built a community of now there's, I don't even have to show up. There's hundreds of volunteers. I like to show up, I don't have to be there. Of hundreds of volunteers that are there, wrapping toys and giving these things out, and now last year we covered the field with 164,000 toys. That was fun to watch.

And then we did Salt Lake City, and this year's our 10 year anniversary, so we're gonna try to do 10 cities in a two week period if we can. So far we're already locked into 10 cities, so hopefully we can execute on it, which I think we will. Why do I do it? I want people to replicate the charity in their own version.

Do they like the food drive? They don't have to do our food drive. Do you like the toy drive? You can give out toys in Chicago or New Mexico or Austin, Texas. You don't have to come to LA or Salt Lake. Oh, you like bagpacks with a homeless? Fantastic. You don't need my bagpacks.

You can make Ziploc bags with homeless supply items, with your kids and your friends and your grandparents. You don't need my backpacks. You can make ziplock bags with homeless appliance with your kids and your friends and your grandparents. You can go do that. So everything is kind of caveman style. I want to show people how charity can work and how they can replicate it. And the last part was during Kobe was the $1,000 tipping club and we did a $100 tipping club. Where you'd go to a restaurant and you and nine friends would pitch in a hundred bucks each and then you surprise the waiter of the waitress with 900 bucks. That started to escalate to 15 people within 20 people and 30 people 40 people. Way more important than that is now there are tipping

clubs happening all over all over the place and I don't even get tagged half the time. They don't know that me and Jimmy Rex and these guys started it. Somebody asked me to go to wine a couple of weeks ago. Oh cool is Dan doing one. They go who's Dan The best thing ever the butterfly effect that is so massive the inspiration They did one in Salt Lake recently and it was a food truck and they gave the guy $32,000 Yeah, Keaton and the boys. Yeah, yeah, that was cool. That's life-changing Life-changing that Life-changing. That guy just had a kid too.

So I say that all because the concept for me and why you guys hear me talk about charity all the time is because we grew up in this culture where they're like, oh, you shouldn't post about charity because then it's not really charity. I post about charity, so you guys all do it. Agreed. And I'm going to keep doing it for the rest of my life.

I'm going to keep talking about it. I don't need a pen on the back. I don't need a cute DM. I want you to go do charity over and over and over and tell your friends to do it too. Tarzan, we obviously know what types of charities you like. Tell us about why you're so behind animal charities. Well, one of my favorite charities is actually cleaning up the beach. I'm doing beach cleanups or recycling plastic. Me and my buddy started a, it's called Center for the Sea and we would go to

like to hit up the mayor and be like hey this came Bay behind the heat stadium it's just loaded with trash we're going to clean it up I don't care what you say okay what you do you're not gonna stop us and he's like that's not how you do it but we're gonna give you a permit to go to so we we're out of the troop same thing you do like go on Instagram hey me does here this day game and we can notice posted a couple stories about it. World star posted it. And before you know, we had five hundred people picking up like 15,000 pounds of trash.

Oh, you know, and we're like, now we don't even know where to put it at. We don't even know what to do. You know, we're now putting in storage units and like trying to figure out how to, I properly recycle it, but it started at the same thing. started trying to sell it and knew York someone did it in Santa Monica. And it's so dope to see people go around and start like, hey, picking up trash is cool now. People go to the beach and after Labor Day or Memorial Day, and there's a couple of people

posting, like, hey, clean up your trash after the beach and they're tagging us. It's so dope to be able to just spread something cool like wildfire and something simple like, I'm gonna go get up on a Saturday morning at 6 a.m. and go pick up some straws and save seed turtles or pick up some plastic bags so those seed turtles aren't either taking their jellyfish or so on and so forth you know so it's really cool it's one thing I love to do and there's tons of other animals which are you can work with like helping dogs get spayed in new roots so they don't eat natural animals in a natural habitat. So, like,

saving rhinos, you know, or doing blood grafts, giraffes, and helping the arthritis foot hoofs and stuff like, it's just, you can go all around and antipo近 and pulling snares out to jungle. So, it's a lot of stuff I like to do, but Beach Clean is one of my favorite things. So normally I don't know when the episode comes out, but this one is coming out this Monday, August 7th. So you guys are listening. It's Monday.

Hi. Welcome to the money Monday's. On Wednesday, coming up Wednesday, August 9th, I'm going to make the biggest announcement in my entire career. Oh, I know about this. Oh, I know, too. We were on the plane together. So can I make the announcement?

It's your announcement to make. So I'm not gonna announce it yet, but it isn't the event space and you guys are gonna see the press release come out on Wednesday. I'm gonna go meet with the 85 employees to scale in the event's category. But I say that because part of the biggest event I've ever done in my life is September 23rd, Salt Lake City Both of you are gonna be there. Yeah, we will. So I wanted to I call it practice. This is my practice one I feel like if I get this one right September 23rd at the Maverick Center I'm gonna replicate this. I want to do it two three four times a year across the country

Obviously in your city in Arizona. I'm doing Texas. I want to do it in New York Miami, etc You guys get bombarded with events. There's an ungodly amount of events that are out there to go to. I speak at over 100 plus events a year. You guys speak at the Zillions events a year. Like, there's so many events to go to. This one, I'm practicing to throw a one day version of 10X events. I love the one day version.

Me too. It's like like what are we doing here three days? Like I learned enough in day one I want to go take action. Yes. Right. I love it. So for this one day conference it's called the Limitless Arena. We're gonna have David Goggins, Gary Vaynerchuk, Andy Priscilla, Ed Mylett, Tim Grover, there's 25 speakers so I can't go through all of them. A lot of them are on panels because obviously we can't actually fit 25 people into a one-day conference. But you're gonna get to hear from some of the legends all combined into one category.

And everyone that sees the flyer like, isn't that a four-day conference or a three-day conference? No. It's a one-day conference. We have Russell Brenson, who's gonna be amazing. GaryVee, then Ed Mylett, then Russell Branson, then Lunch, then Cody, then Pace, blah, blah, blah, blah, thanks for coming back. I got the entire schedule on my head because it's gonna be running like a military.

So if you guys are out there and you wanna come to thelimitlessareena.com, we are in Salt Lake City, September 23rd for a one day conference. We're gonna raise a bunch of money for charity that day. We're gonna have a surprise performance that night. I don't think that was yet. Keep that in mind. But if you guys want to join us there, it's all like said, you're sent your entrepreneurial friends to Mother to CS. When you guys get

bombarded with events, how do you choose based on your busy schedules, which events you will or will not speak at pace and then Cody? Pace goes yes. I used to say yes. I say no to probably 70% of stuff now. And now that we've got a baby boy coming in December, I said I started saying no for an eight-month period. I won't speak for eight months, which would be fun. I didn't do that with my last daughter and I regret it. So I say no.

The things I say yes, too, if they're my friends, I'll immediately say yes. No questions asked. If you're my friend and we've collaborated, the answer is always yes. Whatever you want, I'll do whatever you want. If I don't know you, what I do is I look at your audience and I also see the types of comments

that are being made on your socials. If you have positive go-giving type of people in your atmosphere, then I wanna hang out with those people. But if it's like people that are like the Lamborghini people and all the things in the pinky rings, anybody got a pinky ring on? You know, if you've got those types of that atmosphere, I'm, I'm just not my vibe. And so I'll say no to it. And then also when people ask me to speak for three days, I have an event in September, they're like, we need

you to speak all three days, my bro. That ain't happening. I need to come in. I want to hang out with all your people in the hallway for five or six hours, and then I got a dip. For sure. So, I also, the weirdest thing, the weirdest reason I say yes is because if I have real estate in that space, I go, I'm going out there, I'm going to see my stuff, I'll film content, etc. Cody, how do you decide? I usually say no to everything, but that's because right now, I was thinking last time, I looked at one of my journals, I was saying this on the podcast from back in the

day, and I have massive film, I want to to say yes to everything and I'm not very good. So if I, I mean, there's zero or 60. I mean, there, yes, yes, yes, I'll do it all or I can't say yes to anything. And so my husband and I are focused on, we want to build a family this next year. And so I'm really trying to narrow down anything that doesn't lend itself to that. And I looked back at this journal from when I first was building my first company, and I wrote this line, which is like, you are not boring, you are building. And I went and looked back at that,

and was like, you know what, that's exactly what we're doing right now. So I'm the same way. I will say yes to my very close friends, like people that I actually would do deals together, like you guys, if you guys ever needed something, I'll be there. But for most people, it's a yes to the event being awesome

in our friendship, but like no to actually doing the event. And I truly believe, you just, you cannot be everything to everybody. And it's so hard for people like all of us because our mission and our businesses are serving people. And so you will fall into a dark hole trying to serve everyone and serve No one if you do it that way and I joke with with pace about saying yes to so many because I was joking that he was energizer Bunny this one you are too actually, and I don't know what you well enough

But I might be the same and but I think you know for me just knowing that you're it's okay You're the type of human. I got to recharge I have to think about stuff I got to write those newsletters I'm just not built the same I'm feeling okay with that The last thing we're gonna give you guys some quick advice in case you're considering being a paid speaker Because there's a lot of people that are out there that are considering going out there and speaking some for vanity some for ego some for money Here's the levels level one zero dollars When you first go out speaking whether you're a DJ, musician, or speaker you're going to probably have to go out for free because you either don't have

a big following, nobody knows who you are, not sure if you're good on stage, etc. and you're going to want to get your reps in just going out there and speak. You can also host your own small event and invite 10 people, 20 people, 50 people to a local hotel or local art gallery or car studio, etc. like a car gallery and just host a small event just so you can practice being on stage holding a microphone getting comfortable. The number one fear in our entire globe is public speaking. The number two is actually him with these snakes. I think they're actually more scared of a 16 foot anaconda. Like they really think about that?

So, how do you get past that? Go out there and speak at events or host your own small events or get your friends together and host small little masterminds for free with 5, 10 year friends in your local area. Next level, you're gonna start to charge two grand to five grand. Okay, 2k to five k is what a lot of people are getting paid to speak in some of the gear hours. Oh yeah, that person is getting 25 grand, they're not.

They're not. They're getting 2k to 5k for most events because most events don't have the money to pay. Cody Sanchez and pace more being the real tires than they can't afford 25k, 50k, 100k type speaking fees. The next level is where a lot of people live. It's 5k to 10k. This is pretty much the normal rate that any event can actually afford before you start to get into talent, meaning someone

with a following or a name or some actual paid expert. So 5K to 10K is what most people will get. Once they've had their reps, someone wants to get them to bring an audience with them or they're like a niche in real estate or they're a niche in animals or they're a niche doctor type influencer. Those people are going to get 5K to 10K. When you start to get to the 25k, these are professional paid speakers. You're a charge, you should be with an agency at some point at that rate.

You're charging 20k to 25k, you can make serious money. Like serious money, because think about it. If you do one, two, three events a month at 25k, that's more than a doctor, that's more than a lawyer, that's more than most anybody, because you can make mid-six figures a year net, and you're not shipping anything You're just talking for 30 must an hour When you guys start to have these like visions of grandeur of like I'm gonna make zillions of dollars That's 50k to 100k to get 50k to 100k

You got to be Ed my let Andy for sell at Tim Grover You know household names are getting that 75k 100k 50k rates, mostly closer to 100k when you get to those names that I just mentioned. Anything above that, that's above 100,000, is a celebrity. This is a person that's going to be household name, Mark Wahlberg, Kevin Hart, household name musicians, rappers, artists, Tony Robbins, etc., GaryVee. These are people that are getting a quarter of a million dollars, $300,000, $400,000, $400,000, et cetera. I say this because I want you to understand, if you're going to go out there and become a paid speaker, you have to get really, really, really, really good at what you do. And if you get really good at a specific topic, people will hire you. If someone is very, very niche and they teach about how to sleep better, you're going to get booked on the time. You teach how to lose weight,

or you teach how to get buff, or you teach how to do real estate, or how to buy businesses, people are going to want to pay you, and they're going to start to lean towards that 10k, 20k, 25k type rates, because you are a niche person that they know is going to provide value to their audience. Now, if you can couple that where you're a niche, and you teach something about buying businesses, or real estate, or animals, etc. and you start to get a bit of fame, well now you get to 25k to 50k, et cetera. The point is, there is money in paid speaking, but first before you go do that, get really, really good at your topic,

start to throw events, get really good speaking on stages, build your social media profile, et cetera, before you go out there and try to charge people or get a bit sad or frustrated if people aren't offering to pay you, go out there and do those things for free. I still speak my friends events for free There's people that I don't know or acquaintances I charge 25k to 50k if I have to travel more than Cross country I charge a hundred cakes. I don't want to go. But they get pay me a hundred K

Okay, I'll go right but the most part most of my rates are 25k to 50k I'm assuming you guys are in the similar range of 25k to 50k But for people that are out there. I'm still speaking for free from my friends. I will always speak for my friends for free. I don't care if I become a gazillionaire, a bazillionaire, or I become super famous, or get 200 million views, I'm still gonna speak for my friends for free.

So I don't do that part for the money. I do it for what Cody mentioned, I want the service. I want people to learn about the niche that I'm talking about, the same way that pace and Cody, et cetera, want people to learn about the niche that they're talking about. Any final things before we wrap up? I spoke so long for free that I didn't know you could charge. And then I got a TV show, the TV show we got with A&E, we've got six seasons with them.

We're currently getting ready to film season three. A&E put in my contract that I have to charge $50,000 in my face appears on a screen, on a stage and we're like,, who's gonna pay 50 grand? I've been doing this for free. And then last year, I made half a million dollars in speaking fees, like all of a sudden. Boom. And, but I don't charge my friends, right?

And I'll even, if you're my friend, I'm paying for my flight in my hotel. If you're my friend, you have a course. I pay for her newsletter. Like, it's so freaking good. Like, the second I become your friend, I'm buying your course. And you got buddies that are like,

oh, I'll give you my thing for free. No, I don't want anything from you for free. If I'm a good friend, I'm paying for it. Same thing if I'm speaking for you. I'm paying my own way. I'll bring my, I'll even bring my team with me. I'll promote, I'll do whatever it is. But it is amazing how long you have to go for free

and really build a name in order to get to that 50,000 mark. So people, you got to know, you got to do put in the reps for two, three years. Just like DJs, just like musicians, just like anybody else. Yeah, except any last words. No, I don't think so. I think you guys have nailed it. Go to contrarianthinking.com. Okay.

Didn't even pay him for that one. Make sure. Follow at pace morby at Cody Sanchez at the real Tarzan. Now we have one request at the end of each episode Make sure to have these discussions about money with your friends family and followers We all grew up thinking it's rude to talk about money and we here at the money Mondays think it's rude to not talk about money so make sure go to the money Mondays calm share with your friends talk about the podcast Talk about money just explain them why they should be investing. Talk, have these discussions about rents

and utilities and overhead and salaries and learn about what these guys are teaching about how to buy businesses and sub-to financing to buy things without having out your whole capital. You have access to information that's mostly free or very affordable to learn about how to make your life better, make your friends, family life's better. We will see you guys next Monday,

the money Monday's dot com. Boom. Bye.