Podcasts about Great Recession

Aditi Sahasrabuddhe is a political scientist at Brown University and the author of the new book, Banker's Trust: How Social Relations Avert Global Financial Collapse. In Aditi's first appearance on the show, she discusses how central bankers' relationships in the 1920's impacted the global economy, how the ending of those relationships played a part in the Great Depression, how we can apply those principles to the Great Recession and the present, and much more. Check out the transcript for this week's episode, now with links. Recorded on July 30th, 2025 Subscribe to David's Substack: Macroeconomic Policy Nexus Follow David Beckworth on X: @DavidBeckworth Follow the show on X: @Macro_Musings Check out our Macro Musings merch! Subscribe to David's new BTS YouTube Channel  Timestamps 00:00:00 - Intro 00:00:50 - Aditi's Intellectual Journey 00:03:57 - Louis Franck at the National Bank of Belgium 00:05:46 - Relationships and Crisis 00:11:07 - Central Bank Club 00:17:06 - Central Bankers and the Butterfly Effect 00:22:33 - Montagu Norman and Benjamin Strong 00:32:06 - Émile Moreau 00:34:48 - Japan 00:38:11 - Benjamin Strong and the Great Depression 00:48:55 - Great Financial Crisis 00:51:18 - India 00:55:25 - Jerome Powell the Central Banker 00:58:23 - Outro

In this episode of 'Your Message Received,' host John Duffin welcomes Chloe Anagnos, a writer, digital strategist, and active community member, who shares her unique journey from growing up in Elkhart, Indiana, to becoming a prominent voice in the fields of culture, politics, and motherhood. Chloe discusses the impact of the Great Recession on her hometown, her passion for journalism and digital media, and her strong stance on educational freedom. Please tune in to learn about Chloe's insights on resilience, authenticity, and the importance of respectful discourse in today's polarized environment.Here are some ways to follow and stay connected with Chloe Anagnos. Links below. https://americasfuture.org/about/staff-and-board/Linkedin https://www.linkedin.com/in/chloeanagnos/Instagram @chloeanagnos00:00 Introduction and Podcast Overview01:12 Meet Chloe Anagnos02:17 Growing Up in Elkhart, Indiana03:25 Impact of the Great Recession07:44 High School Challenges and Mentorship11:59 Discovering a Passion for Media13:09 College and Career Pivot15:09 Balancing Career and Motherhood20:09 Immigrant Background and Family History26:36 The Importance of Concise Communication27:36 Navigating AI in Communications28:07 Balancing Technology and Originality32:02 The Role of Respect in Debates35:18 School Choice and Educational Freedom43:00 Homeschooling Success Stories48:13 Overcoming Imposter Syndrome49:28 How to Connect with Chloe Anagnos50:19 Conclusion and Final Thoughts

Brad Stroh, co-CEO and co-founder of Achieve, shares how he's built one of the most impactful fintech companies by taking a completely different path from the typical Silicon Valley playbook. Through bootstrapping rather than chasing venture capital, Brad and his co-founder have created a mission-driven business that has served over 1.5 million people and resolved $18 billion in debt since 2002.• Understanding the information asymmetry in financial services that disadvantages consumers making major financial decisions• How Achieve flips traditional asset management by focusing on liability management for the underserved• The evolution of consumer debt over two decades through multiple economic cycles• Applying AI to create "zero-click financial services" that automatically optimize consumer finances• The importance of saying no to opportunities that don't align with core mission• Brad's leadership philosophy centered on being intentional and deliberate• Making the shift from viewing monthly payments to understanding total cost of debt• How economic uncertainty and inflation are affecting consumer financial stability• The importance of balancing regulation with innovation in financial servicesWhen everyone else was chasing venture capital and quick exits back in 2002, Brad and his Stanford Business School classmate Andrew Hauser made the radical decision to bootstrap their company. Their reasoning was profound yet simple: they wanted to build something meaningful that would last decades, not just until the next funding round. This patient approach has paid extraordinary dividends.Brad shares how banks leverage vast data resources and experience to maximize profits from consumers who may only go through major financial transactions a handful of times in their lives. By flipping this dynamic and democratizing financial knowledge, Achieve helps struggling and striving families navigate their way to stability.The conversation explores how consumer debt has evolved through multiple economic cycles – from the dot-com bust through the Great Recession and pandemic. Brad offers fascinating insights on current economic conditions and the transformative potential of AI in financial services.If you've enjoyed this episode, please take a moment to rate and comment on Apple, Spotify, YouTube, or wherever you listen to podcasts.Brad Stroh: https://www.linkedin.com/in/bradfordstroh/Brad Stroh, the Co-CEO and co-founder of Achieve, starting the company back in 2002 out of Stanford Business School.  Over the past 20-plus years, Achieve has served over 1.5 million people, resolved over $18 billion in debt, and funded over $10 billion in loans. Achieve is approaching a billion dollars in annual revenue with over $7 billion in cumulative revenue and 2,800 employees.Before embarking on this entrepreneurial journey, Brad graduated from Amherst College in 1996 with majors in Literature and Economics, and then graduated from Stanford Business School in 2002.Website: https://www.position2.com/podcast/Rajiv Parikh: https://www.linkedin.com/in/rajivparikh/Sandeep Parikh: https://www.instagram.com/sandeepparikh/Email us with any feedback for the show: sparkofages.podcast@position2.com

For decades, the United States enjoyed what some called an exorbitant privilege—the ability to spend more than it earned without accumulating much debt to the rest of the world. But that privilege has ended. In a paper in the American Economic Review, authors Andrew Atkeson, Jonathan Heathcote, and Fabrizio Perri found that the United States started accumulating significant liabilities to foreigners after the Great Recession.  The researchers say that a surge in the value of US corporations relative to companies in other countries is the driver of this development. Due to large international capital flows in recent decades, foreign investors now own about 40 percent of US corporate equity, while US investors also hold a large amount of foreign companies in their portfolio. When American companies become more profitable and their stock prices soar, much of the gains flow overseas, without a corresponding flow to US investors from foreign companies, and this erodes the net foreign asset position of the United States. Atkeson recently spoke with Tyler Smith about how to interpret the US net foreign asset position and what its recent swings mean for American households.

Send us a textWhat does it take to go from cash-advancing a credit card to building a vertically integrated, multi-state real estate empire? In this episode, Chris Hanson, the CEO and Founder of Hanson Capital Group, opens up about his real estate journey—from stumbling into trustee sales during the Great Recession to becoming a powerhouse in industrial real estate. He unpacks the lessons learned from losing deals, shutting down businesses, and redefining success beyond financial gains. He also reveals why small bay industrial is his top pick for 2025 and how he structures deals with a long-term vision and value creation in mind. [00:01 - 07:00] A Credit Card and a Craigslist HustleWhy starting small can lead to scalable success.The importance of offering value in a crowded market How service-based business models can sustain early investing mistakes.[07:20 - 14:24] When Apartments ClickedThe significance of income-producing assets versus speculative flips.What can be learned from buying below market in a recession.The importance of persistence through uncertainty and fear.[14:25 - 21:41] Discovering Industrial: The Quiet GoldmineHow triple net leases create stable, low-maintenance income streams.Why a 7-cap with a 4% cost of debt made more sense than chasing overheated multifamily deals.The need to adapt strategy based on macroeconomic shifts, not legacy bias.[21:42 - 28:19] Small Bay, Big OpportunityWhy small bay industrial properties are in short supply and high demand.The significance of assembling smaller assets into institutional-grade portfolios.How last-mile logistics and population growth fuel tenant demand.[28:20 - 37:49] Negotiating with Purpose & Redefining SuccessHow Chris applies high-level negotiation strategies to real estate deals.The importance of shifting from player to coach in leadership.Why success is now defined by impact, not income.Connect with Chris:Website: https://x.com/HansonCapitalFacebook: https://www.facebook.com/carl.san12LinkedIn: https://www.linkedin.com/in/chrishansonre/LEAVE A 5-STAR REVIEW by clicking this link.WHERE CAN I LEARN MORE?Be sure to follow me on the platforms below:Subscribe to the podcast on Apple, Spotify, Google, or Stitcher.LinkedInYoutubeExclusive Facebook Groupwww.yonahweiss.comNone of this could be possible without the awesome team at Buzzsprout. They make it easy to get your show listed on every major podcast platform.Tweetable Quotes:"Success comes from... the ability to help others improve their situation." - Chris Hanson"If somebody else just lost $600K, I could lose the $70K... I hope I can figure this out." - Chris HansonSupport the show

Will the stock market crash? With the market continuing to march higher and setting record high after record high, I do worry more and more that a crash could be coming. It doesn't mean it will happen tomorrow, next week, or maybe even this year, but I do believe the risk to reward of investing in the S&P 500 at this point is not favorable when you take all the data into consideration. I have talked a lot about the fact that the top 10 companies now account for nearly 40% of the entire index and the forward P/E multiple of around 22x is well above the 30-year average of 17x, but there are also less discussed factors that are quite concerning. There is something called the Buffett Indicator that looks at the total US stock market value compared to US GDP. Buffet even made the claim at one point that this was “the best single measure of where valuations stand at any given moment." The problem here is that it now exceeds 200%, which is a historic high and well above even the tech boom when it peaked around 150%. Another concerning measure is the Shiller PE ratio, which looks at the average inflation-adjusted earnings from the previous 10 years in relation to the current price of the index. This is now at a multiple around 39x, which is well above the 30-year average of 28.3 and at a level that was only seen during the tech boom. While valuation isn't always the best indicator for what will happen in the next year, it has proven to be a successful tool for long term investing. Unfortunately, valuations aren't my only concern. Margin expansion is even more frightening as the reliance on debt can derail investors. Margin allows investors to buy stocks with debt, but the big problem is if there is a decline and a margin call comes the investor would either have to add more cash or make sells, which causes a further decline in the stock due to added selling pressure. Margin debt has now topped $1 trillion, which is a record, and it has grown very quickly considering there was an 18% increase in margin usage from April to June. This was one of the fastest two month increases on record and rivals the 24.6% increase in December 1999 and the 20.3% increase in May 2007. In case you forgot, both of the periods that followed did not end well for investors. Looking at margin as a share of GDP, it is now higher than during the dot-com bubble and near the all-time high that was reached in 2021. One other concern with the margin level is it does not include securities-based loans, which is another tool that leverages stock positions and if there is a decline could cause added selling pressure. Unfortunately, this data is not as easy to find since they are lumped in with consumer credit. The most recent estimate I could find was in Q1 2024, they totaled $138 billion and with the risk on mentality that has occurred, my assumption is the total would be even higher now. We have to remember that we now are essentially 18 years into a market that has always had a buy the dip mentality. Even pullbacks that occurred in 2020 and 2022 saw rebounds take place quite quickly. This has created a generation of investors that have not actually experienced a difficult market. I always encourage people to study the tech boom and bust as it was devastating for investors. The S&P 500 fell 49% in the fallout from the dotcom bubble and it took about 7 years to recover. Investors in the Nasdaq fared even worse as they saw a 79% drop and it took 15 years to get back to those record levels. Unfortunately, this isn't the only historical period that saw difficult returns. If you look back to the start of 1964, the Dow was at 874 and by the end of 1981 it gained just one point to 875. This was an extremely difficult period that saw Vietnam War spending, stagflation, and oil shocks, but it again illustrates that difficult markets with little to no advancement can occur. So, with all of this, how are we investing at this time? We are maintaining our value approach, which generally holds up much better in difficult markets. For comparison, the Russell 1000 Value index was actually up 7% in 2000 while the Russell 1000 Growth index fell 22.4% that year. We are also maintaining our highest cash position around 25% since at least 2007.  I continue to believe there are opportunities for investors, it just requires discipline and patience. One other person remaining patient at this time is Warren Buffett. Berkshire now has near a record cash hoard of $344.1 billion and the conglomerate has been a net seller of stocks for the 11th quarter in a row. I'd rather follow people like Buffett at times like this over the Meme traders that have become popular once again.   Consumers are doing a better job managing their credit card debt  Data released by Truist Bank analysts show that card holders of both higher and lower scores are doing a better job paying their bills on time. This is based on a drop in the rate of late payments from last quarter. Also improving is debt servicing payments as a percent of consumers disposable personal income. The first quarter shows debt-servicing payments were roughly 11% of disposable income, which is a strong ratio to see considering that level is below what was typical before the start of 2020 and it's far below the 15%-plus levels that were seen leading up to the Great Recession in 2008. According to Fed data, card loan growth was only 3% year over a year, which could be due to lenders increasing their credit standards. Stricter standards also made it more difficult for subprime borrowers to obtain new credit cards considering the fact that as a share of new card accounts, this category accounted for just 16% of all new accounts. This was down roughly 7% from the last quarter in 2022 when it was 23%. Consumers may also be more aware of the high interest costs considering rates stood at 22% as of May. There has been a decrease in rates from the peak last year, but Fed data reveals before interest rates began rising in 2022 interest rates stood at 16% for card accounts. If the Fed were to drop rates a couple of times between now and the end of the year, we could see a small decline in the rate. With that said borrowing money on a credit card and accruing interest is a terrible idea as even a 16% rate would not be worth it!    Real estate investors may be supporting the real estate market. This may sound like a good thing, but this could be dangerous long-term since investors don't live at the property. It would be far easier for them to default on the mortgage and let the house go into foreclosure or sell at a price well below market value just to get their investment back. So far in 2025 investors have accounted for roughly 30% of sales of both existing and newly built homes, which is the highest share on record. This is according to property analytics firm Cotality and they started tracking the sales 14 years ago. Most of these investors were small investors, who own fewer than 100 homes as they accounted for roughly 25% of all purchases. This compares to large investors which accounted for only 5% of purchases of new and existing homes. Within the small investor space, the stronger category is those with just 3-9 properties as this group has accounted for between 14 and 15% of all sales each month this year. The data also shows that the large investors like Invitation Homes and Progress Residential have become net sellers in the market and are selling more properties than they are buying. This is likely due to reduced rents from the high competition in the rental market and a softening of the overall real estate market in certain areas that has not provided the expected return that they wanted. I do worry that the small investor here has less access to good data and is less disciplined with their investment strategy. They are likely buying homes because real estate has been a good investment for the last several years, but if the market were to turn, they would be more likely to panic and sell and they may not have the means to continue holding the real estate. I do believe if interest rates remain, housing prices could remain stable or perhaps even drop a little bit. It's important to remember long term mortgage rates generally stem from longer term debt instruments like a 10-year Treasury, rather than the short-term discount rate set by the Fed.   Financial Planning: When and How a Refinance is Helpful After several years of elevated mortgage rates, steady declines have made more homeowners candidates for refinancing, but a smart decision requires looking beyond the headline interest rate. The first question is whether the refinance actually reduces the rate, and if so, what third-party closing costs and discount points are involved. Every mortgage carries these costs, and paying points may not make sense if rates are expected to fall further and another refinance could be on the horizon, especially since few 30-year mortgages last their full term before a sale or another refi. The structure of the new loan also matters: should costs be paid upfront or rolled into the loan balance, and how long will the loan likely be kept? The real goal is to borrow at the lowest overall cost over the life of the loan, factoring in both the rate and the cost to obtain it. A lower rate and payment may feel like a win, but without careful structuring, it may not be the most cost-effective move, something mortgage brokers often overlook when focusing solely on rate reduction. Here's a real example from just last week. A homeowner with a $580,000 mortgage at 6.875% and a $3,900 monthly payment has the opportunity to refinance to 5.5%, lowering the payment to $3,500 with no additional cash due at closing, and saving roughly $80,000 in total interest over the life of the loan. At first glance, this looks like a no-brainer. However, this structure would only be ideal if the homeowner never had another chance to refinance, which is unlikely given their current rate of 6.875%. In this case, all costs were rolled into a new loan balance of $616,000—an increase of $36,000—explaining why no cash was required at closing. A better approach might be to refinance to a rate only slightly lower than 6.875%, still reducing both the monthly payment and lifetime interest, but without dramatically increasing the loan balance by rolling in discount point costs. Refinances can continue as long as rates are expected to decline, and the best time to pay points is in a “final” refinance when rates are no longer expected to drop so the benefit can be locked in for the long term.   Companies Discussed: Carrier Global Corporation (CARR), Polaris Inc. (PII) & Align Technology, Inc. (ALGN)

Some dots have connected in my mind recently that are reshaping how I evaluate self-storage trade areas moving forward. Surprisingly, this insight came from digging into the lives and current work of the people who shorted subprime financial instruments during the Great Recession—and what they're focused on today. I also re-learned an important truth when designing my self-storage and investment strategies: don't follow the news, the politics, or the politicians—follow the money. See where it's going. That points in a much clearer direction. Next week, I'll share where it appears the people who earned over 500% during the Great Recession are investing their money—and what they're hedging against. **Online Courses at The Quickstart Academy** https://TheQuickStartAcademy.com/ **Listen on Apple Podcasts** ** 5 KPIs we measure** https://creatingwealththroughselfstorage.lpages.co/top-5-kpi-ebook/ **My blog** Creating Wealth Through Self Storage **Facebook** https://www.facebook.com/markhelmselfstorage/ **Twitter** Tweets by MarkHelmSelfSt **The Storage World Analyzer** http://storageworldanalyzer.com/ **The QuickStart Academy Store** https://quick-start-academy.myshopify.com

Send us a textMichael Levitt shares his journey from accounting to burnout expert after experiencing his own health crisis during the Great Recession. He explains the crucial differences between burnout and depression, offering practical mindset strategies to prevent prolonged stress from consuming your life.• Burnout is officially recognized by WHO as a "workplace phenomenon" resulting from prolonged, unaddressed stress• Unlike depression, burnout makes you feel numb rather than preventing function completely • Most burnout stems from mindset issues - catastrophizing problems instead of approaching them pragmatically• Write down everything stressing you out, then circle only what you can actually control• Establish clear work boundaries, especially with technology that allows 24/7 connectivity• Identify your personal "sweet spot" hours when you work best and schedule important tasks then• Physical activity is one of the most effective stress relievers and mindset reset tools• Focus on systems and processes, not just end goals, to make success repeatable• Stop procrastinating on difficult tasks - we spend more time worrying than it would take to complete them• Remember it's about "the journey, not the destination" - pay attention to what you learn along the wayConnect with Michael Levitt at breakfastleadership.com or find his podcast "Breakfast Leadership Show" on all major platforms.Support the showThanks for listening & being part of the Mindset Cafe Community.----------------------------------------------Connect With Devan:https://www.devangonzalez.com/connect----------------------------------------------Follow On Instagram https://www.instagram.com/devan.gonzalez/https://www.instagram.com/mindsetcafepodcastLet me know what topics or questions you want covered so we can help you achieve your goals faster.----------------------------------------------P.S. If you're not already a part of the The Mindset Cafe Community Page I would love to have you be a part of the community, and spread your amazing knowledge. The page is to connect and network with other like minded people networking and furthering each other on our journeys!https://www.facebook.com/groups/themindsetcafe/

Special bonus episode. The Bureau of Labor Statistics issues massive job revisions on Friday morning. The revisions wipe out nearly 90% of previously reported gains for May and June. This raises fundamental questions about how our most trusted economic data gets calculated. In this episode, we break down how the system works. We examine why the revisions are so large. We explore what this means for understanding the real economy. Friday arrives. The BLS delivers what appears routine: 73,000 new positions added in July. But the revisions tell a different story. May's initially reported 144,000 job gains become 19,000. June's seemingly solid 147,000 drops to just 14,000. These represent 87-90% overestimates. They fundamentally alter the economic picture for those months. The BLS surveys 560,000 businesses each month. They use payroll data from the 12th of the month. But only 60-73% of those businesses respond by the initial release deadline. The remaining portion gets filled through statistical modeling. The models rely on historical patterns. This approach typically produces revisions in the 20,000-50,000 range. But throughout 2025, average monthly revisions reach 66,000. That's triple the normal size. The statistical models aren't capturing current economic conditions effectively. The problem becomes clear when economic conditions shift rapidly. Historical patterns become unreliable guides. The 2024 annual revision was the largest since 2009. What happened in 2009? The Great Recession. Another period when traditional forecasting tools struggled with rapid change. ADP is a private payroll processor. They serve 460,000 companies. They provide useful comparison data. For May, their 37,000 private-sector job estimate aligns reasonably well with BLS's revised 19,000 total. For June, ADP reports a 33,000 job loss. BLS shows a 14,000 gain. ADP's independent data helps validate the revised numbers while highlighting the magnitude of the initial errors. These numbers drive real decisions. Federal Reserve officials use employment data for interest rate policy. Investors allocate capital based on these reports. Workers make career decisions based on perceived labor market strength. When the initial data misses by 90%, everyone operates with fundamentally flawed information. The revisions expose how fragile our economic measurement systems become when conditions change faster than models can adapt. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Also on Arizona Spotlight: The Vera C. Rubin Observatory begins to peer through space and time; and memories of growing up unsupervised in the 1950s.

Losing a job isn't just about missing a paycheck — it can unravel your sense of identity, safety, and purpose. For many women, especially those navigating life on their own, job loss brings a cascade of emotional and practical challenges. But within that uncertainty also lies an opportunity for reinvention, reflection, and storytelling. This episode explores what it means to experience—and rise from—such a pivotal life shift. In this episode, I sit down with writer and educator Desiree Groft, author of the debut novel Girl Unemployed. While fictional in format, Desiree's book is deeply inspired by her real-life experience of unemployment during the Great Recession — and the resilience it took to rebuild from the ground up. Listen in as Desiree and I talk about: Why she chose to write her story through the lens of fiction instead of memoir How living in a historical NYC women's hotel became a character in the book The emotional and mental toll of unemployment, especially as a single woman The concept of “holding both grief and hope” during difficult transitions How the book's cover design became a metaphor for rewriting life's rough drafts The importance of finding community — not just for children, but for adults too Why traditional publishing didn't define her journey as an author Desiree's story is one of grit, reinvention, and honoring the messy in-between seasons of life. If you've ever faced a detour in your career, identity, or purpose — this conversation will resonate deeply. Be sure to listen to the full episode, then grab your copy of Girl Unemployed and follow Desiree's work. You'll find the links in the show notes — and don't forget to share this episode with a friend who needs to hear it. And if this conversation sparks something in you, consider sharing your own story — because your experiences have the power to connect, heal, and inspire others too.   Interview links: Grab a copy of Desiree's book, Girl, Unemployed https://www.amazon.com/Girl-Unemployed-Desiree-Prieto-Groft/dp/B0DY8NB5XN Connect with Desiree https://www.desireegroft.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Marcus Sheridan built a thriving swimming pool company in the middle of the Great Recession by understanding buyer's questions and using his marketing to address them with complete transparency. That strategy became the foundation of They Ask, You Answer, a framework now used by leading businesses around the world. In this episode, Sheridan shares how teaching homeowners builds credibility. He reveals why most marketing fails to earn trust and what companies can do to enhance their messaging. He also breaks down how to improve your website content and stay ahead on SEO in the new era of AI-dominated page views. In this episode you'll learn: The four pillars of a known and trusted brand What the “pride cycle” is and how it affects business decisions The ways AI effect SEO and how to stay ahead What trust signals are and where to use them How to use video to strengthen your brand Which tools can measure the authenticity of your marketing message Learn more about Marcus Sheridan here. Own a construction company and want to share your story? Apply to be on an upcoming episode of Builder Stories at https://www.builderstories.com

In this episode of the Drop In CEO podcast, Deb Coviello welcomes Lance Cayko, a serial entrepreneur, architect, builder, and co-founder of F9 Productions. Lance shares his journey from rural North Dakota to building a vertically integrated business in architecture, construction, and real estate development. The conversation explores the value of mentorship, the design-build model, affordable sustainability, and the importance of finding the right business partner. Lance also offers advice for aspiring entrepreneurs and insights into building a client-focused, resilient business. Episode Highlights: 06:10 Early Lessons in Entrepreneurship and Money 15:30 Discovering Architecture and the Power of Mentorship 23:45 Building F9 Productions During the Great Recession 32:20 The Design-Build Model Explained 39:00 Niche Client Selection and Business Philosophy 45:15 Affordable Sustainability in Architecture Lance Cayko is an award-winning architect, builder, educator, and serial entrepreneur. As co-founder of F9 Productions, a top-rated design-build firm in Longmont, Colorado, Lance brings deep expertise in architecture, construction, and real estate development. He holds degrees in Building Construction Technology, Environmental Design, and a Master of Architecture, graduating top of his class with the McKenzie Thesis Award. Lance teaches at CU Boulder and NDSU, co-hosts the Inside the Firm podcast, and leads Longmont Community Gardens as founder and president. A proud dad and professional fisherman, Lance is passionate about building stronger communities—one project, class, and garden at a time. Connect with Lance Cayko: Instagram: @fishingwithlance Company Website: f9productions.com For more information about my services or if you just want to connect and have a chat, reach out at: https://dropinceo.com/contact/See omnystudio.com/listener for privacy information.

Would you like access to our advanced agency training for FREE? https://www.agencymastery360.com/training Running an agency can feel like chaos on repeat—clients, team stress, and no clear direction. You're not alone. Today's featured guest has built and sold a $3M+ agency, kept employee turnover under 5%, and is now launching a focused, values-driven agency built to thrive in today's market. He shares some hard-won lessons on building a culture your team will never want to leave, attracting clients who respect your expertise, and creating the clarity and focus you need to scale without burning out. If you're an agency owner who's tired of the chaos and wants a clearer, saner path forward, this conversation will give you a roadmap worth following. Colin Hetherington is the founder of the newly minted Common Good in Dublin, but he's no rookie. Before that, he co-founded Zoo Digital, growing it past $3M a year before it was acquired, and even earlier, he pitched and built agency.com's Dublin presence when Ireland barely had broadband. After building and scaling agency.com Ireland, Colin and two colleagues grabbed coffee after a client meeting and decided, “There's a better way to do this.” It wasn't a grand plan with a 50-slide deck. It was a hunch—and a leap of faith. In this episode, we'll discuss: Why he believes in taking the leap before you're ready. Build systems or burn out. How to keep turnover at less than 5%. Why focus is the ultimate power move. Subscribe Apple | Spotify | iHeart Radio Sponsors and Resources E2M Solutions: Today's episode of the Smart Agency Masterclass is sponsored by E2M Solutions, a web design, and development agency that has provided white-label services for the past 10 years to agencies all over the world. Check out e2msolutions.com/smartagency and get 10% off for the first three months of service. Look for the Venn Diagram Sweet Spot Colin's first experience in digital marketing came when he worked for an agency in San Francisco back in 1999. At iTraffic, subsequently taken over by Agency.com, he learned about what was called at the time ‘internet advertising', and five years later he pitched the idea of setting up Agency.com in Dublin.  Their developing edge was putting strategy, creative, and technology under one roof at a time when agencies treated digital as an afterthought. That unique combination allowed them to win big clients like the National Lottery and the Irish Tourism Board with a tiny seven-person team. In just two years, they went from zero to driving 12% of the group's revenue and Colin and his partners felt ready to grow their own business. Hitting Their Stride with Innovation Zoo launched in 2008, right before the Great Recession and right as businesses started pulling back and budgets evaporated. However, they were able to adapt by winning some solid clients and partnering quietly behind the scenes with agencies that couldn't handle digital in-house. They found scrappy ways to deliver big ideas on smaller budgets, often using student illustrators or leaner production. By 2015, they'd grown the team to fourteen people and were hitting their stride with their original formula of combining strategy, creative, and technology under one roof that led them to work with big names like Redbull. After bringing innovation to countless brand events, Colin's agency started focusing on UX and got an important partnership with one of the largest banks in Ireland. While not every flashy innovation won new business immediately, it got them on pitch lists and made their team proud. Hiring Before You're Ready Colin's hiring strategy has always been taking leaps of faith. Instead of hiring one by one, they'd hire in threes or fours—betting on themselves to fill the pipeline. This was even back when they couldn't forecast beyond five months. For Colin, there was no use in debating and agonizing over these leaps for weeks when the team was already stretched for 1–2 months straight. Playing too small can be riskier than making bold, smart bets and, as they learned over time, taking those leaps of faith paid off every time. Every time they made that leap, the new team members were busy almost immediately. Build Systems or Burn Out On the other hand, Colin was not as quick to scale processes as they grew the team, which resulted in many projects being delayed and clients rightly unhappy about the situation. At one point, Colin was heading to a client meeting with that sick-to-your-stomach feeling that they were about to get fired for missing deadlines. They didn't get fired, but the client laid it out: “We love you, but can you ever deliver on time?” That wake-up call pushed Colin to bring in operations help, implement systems, and build scalable processes so they could grow without chaos. This next step also required them to admit they just weren't great project managers and needed outside help to build the foundations to grow the business. Culture Is What You Live, Not What You Write Colin managed to keep his agency's employee turnover at less than 5% by putting a heavy focus on culture while he was at Zoo. It's easy to slap a “values” page on your agency's website. He understood that reducing churn meant reducing time spent on getting people up to speed, for instance, but he also understood that culture isn't what you write down—it's what you live. For Colin, it all came down to leadership and how the leadership team delivers culture. For starters, they treated people like adults, trusting their team to own their work without micromanagement, and recognizing that work is just one part of life. When hard times hit, like during COVID, Colin and his partners were transparent. They had to temporarily reduce salaries but promised to pay it back when the storm cleared—and they did. That act of integrity built trust in a way no ping-pong table or Slack emoji ever could. Your Values Attract the Right Clients (and Repel the Wrong Ones) If you've ever worked with a nightmare client—the kind who demands everything yesterday, disrespects your team, and thinks paying your invoice is a license to treat you like dirt—yyou know the toll it takes on your team and energy. On this, Jason and Colin agree: it's better to walk away. Colin has learned that sharing the unspoken values you hold as a team don't just keep your culture healthy; they also shape the clients you attract. The best, longest-lasting client relationships he had were with organizations that shared similar values around respect, partnership, and clear communication. As to the nightmare clients? Those relationships were doomed from day one because the values were out of sync. Focus Is the Ultimate Power Move After selling Zoo, Colin is launching his new agency, Common Good, with one big lesson in mind: Focus beats everything. Instead of being a generalist, Colin is zeroing in on serving state and civil service organizations in Ireland. He believes these organizations are doing important work that deserves to be communicated well—and that clear positioning will set them apart in a market where every agency says the same thing about their “process, portfolio, and people.” What's more, Colin isn't trying to build another 60-person agency. He's embracing the shift in the market toward lean, senior teams that can deliver high-quality work without unnecessary bloat. If you're still in the grind of your first agency, it's normal not to have perfect clarity yet. You have to try things, learn what drains your energy, and double down on what gives you energy. The sooner you build reflection time into your schedule, the sooner you'll find your agency's true direction. It may be hard to take the time to really think about these things. The day-to-day of running an agency can drown you in Slack messages, client calls, and fires to put out. But stepping back—even for a few hours each week—to reflect on where you're going and why can be the difference between a business that drifts and one that thrives. Do You Want to Transform Your Agency from a Liability to an Asset? Looking to dig deeper into your agency's potential? Check out our Agency Blueprint. Designed for agency owners like you, our Agency Blueprint helps you uncover growth opportunities, tackle obstacles, and craft a customized blueprint for your agency's success.

Zach Oliva had just graduated from law school when Ohio discover a huge natural gas shale. Well, he went digging where no other lawyers were... Dave Young: Welcome to the Empire Builders Podcast, teaching business owners the not-so-secret techniques that took famous businesses from mom-and-pop to major brands. Stephen Semple is a marketing consultant, story collector and storyteller. I'm Stephen's sidekick and business partner, Dave Young. Before we get into today's episode, a word from our sponsor, which is, well, it's us, but we're highlighting ads we've written and produced for our clients. Here's one of those. [Oliva Gibbs Law Ad] Stephen Semple: Hey, it's Stephen Semple with the Empire Builders Podcast. We're doing something a little different this week. We've given Dave the day off, and I've got a really special guest with me, Zach Oliva. He's the co-founder of the law firm Oliva Gibbs, in Texas. They're an energy law firm. You guys, you've done something special in terms of what you've grown into. How many lawyers are you now, Zach? Zach Oliva: I think probably close to 60 attorneys across six offices in the U.S. It's been a lot of fun. Stephen Semple: You always know you've grown to a size when it's like, "I think it's 60." Zach Oliva: Yeah. Well, we're always looking for rock stars. I know that there's probably some offers that went out this week, not sure what the status of those are and things. We're blessed with a really great team. Stephen Semple: How long have you guys been around for now? When was the firm established? How many years ago now? Zach Oliva: 2013, actually. Stephen Semple: 2013? Zach Oliva: 12 years, yeah. Stephen Semple: Yeah, that's phenomenal. In 12 years, it has grown from yourself and Brad to basically being now 60 odd lawyers, and being in that magic- Zach Oliva: Yeah. Well, we started the business with another partner who has since retired. Stephen Semple: Okay. All right, there was three. Zach Oliva: I think I was 26 years old. I was reflecting on that the other day. I think I was 26, which, I was pretty dumb then, so I didn't know how stupid of an idea. I also didn't have kids, which makes the decision a little bit different. Stephen Semple: Tell me about how all of this started, because the thing that's also interesting is the area you've gone after, oil and gas. Look, it's not the glamorous space. It would be a bit of an easy one to overlook and not get excited about, and you guys have built this amazing business. As we've worked together, I've learned more and more about how it's actually a far more interesting and innovative industry than people give it credit for. How did it all get started? Zach Oliva: Well, I was in law school in Ohio, where I grew up, and Ohio got just destroyed by the Great Recession. I got out of law school around 2011, and there were no jobs. I was reading the paper, and I noticed that in the paper, they kept talking about this thing called the Utica Shale and the Marcellus Shale, which, they were calling it the most prolific natural gas discovery ever in the country. It was under Ohio, so under the land, under the state of Ohio and New York, and parts of Pennsylvania and West Virginia, and no law firms in Ohio at that time had an oil and gas practice. I was going to these firms, saying, "Hey, I think there's going to be something here. I would love to come work for you, even for free, because I really think that this is going to be a big industry in Ohio. By the way, there are no big industries in Ohio anymore. If anything's going to work, it's going to be this one." None of them were interested in a kid fresh out of law school working for free, doing something that they had no idea how it worked, which, I don't blame them at all. I had a professor who was a really bright guy, and he was really knowledgeable about the country. He was previously an advisor,

Welcome back to Stories from the River and a brand new summer series! This new series comes from a talk that CEO Charlie Malouf gave to the retail leaders on July 10th, 2025, at the in-person, offsite, monthly GM Rx meeting in Charlotte, North Carolina. The acronym 'Rx' stands for "Retail Excellence" and also is our prescription for how we win the month, the quarter, and the year. The topic of this talk and of this series began as "Monthly Budgets Explained." But, to really explain the way that the Company sets its monthly budgets, Charlie presented the full story of how we got here with a presentation that can be called, "The Story of Broad River Retail and the Way We Play the Game - Our Version of the Great Game of Business." In the first part of this talk, Charlie took a moment to reminisce on Broad River Retail's beginnings. This episode is part one of a four part series that will feature Charlie's keynote from the meeting as well as some audience questions.  In this first episode, Charlie addresses the much-requested topic of how monthly budgets are developed, emphasizing the importance of transparency and context. He shares stories from the company's foundational years (2003 - 2014), tracing its journey from its early days as Ish Moore, Inc., the establishment of the 2nd operating company, Hillsboro Retail Group, Inc., and the creation of the 3rd operating company, Broad River Furniture, Inc.  Through significant milestones, challenges during the Great Recession, buying out one of the cofounders, surviving the Great Financial Crisis, and pivotal decisions that shaped Broad River into the premier Ashley Store operator it is today. Charlie relates lessons learned from both successes and failures, highlighting the company's relentless pursuit of excellence and the value of collaboration.  In the next episode, Charlie will be focusing on the transformative events of 2015 and beyond.  Additional Resources: Nick Saban Video Clip on High Standards that was played at the beginning of this presentation - "Mediocre People Don't Like High Achievers, and High Achievers Don't Like Mediocre People" - https://www.youtube.com/watch?v=14_PNe3lcaE From Stories from the River General Manager Series - https://www.youtube.com/playlist?list=PLYZpX9KD7OqbAb8ZN5KEk5fCQt0vLMaXR From Stories from the River Founders Scholarship Fund Series - https://www.youtube.com/playlist?list=PLYZpX9KD7Oqb22Apq_6qBhE2-KZlRpN56 From Broad River's Archives - the Savvy Spaces YouTube Channel - https://www.youtube.com/@SavvyFurniture "The Great Game of Business" by Jack Stack - https://www.amazon.com/Great-Game-Business-Expanded-Updated/dp/0385348339 The Great Game of Business - https://www.greatgame.com/ Watch this episode on YouTube: https://youtu.be/ZacOr4KMGqk  Visit https://www.storiesfromtheriver.com for more episodes. Broad River Retail brought this show to you. Visit https://BroadRiverRetail.com                                Follow us on LinkedIn: https://www.linkedin.com/company/broad-river-retail  

Welcome back to Stories from the River and a brand new summer series! This new series comes from a talk that CEO Charlie Malouf gave to the retail leaders on July 10th, 2025, at the in-person, offsite, monthly GM Rx meeting in Charlotte, North Carolina. The acronym 'Rx' stands for "Retail Excellence" and also is our prescription for how we win the month, the quarter, and the year. The topic of this talk and of this series began as "Monthly Budgets Explained." But, to really explain the way that the Company sets its monthly budgets, Charlie presented the full story of how we got here with a presentation that can be called, "The Story of Broad River Retail and the Way We Play the Game - Our Version of the Great Game of Business." In the first part of this talk, Charlie took a moment to reminisce on Broad River Retail's beginnings. This episode is part one of a four part series that will feature Charlie's keynote from the meeting as well as some audience questions.  In this first episode, Charlie addresses the much-requested topic of how monthly budgets are developed, emphasizing the importance of transparency and context. He shares stories from the company's foundational years (2003 - 2014), tracing its journey from its early days as Ish Moore, Inc., the establishment of the 2nd operating company, Hillsboro Retail Group, Inc., and the creation of the 3rd operating company, Broad River Furniture, Inc.  Through significant milestones, challenges during the Great Recession, buying out one of the cofounders, surviving the Great Financial Crisis, and pivotal decisions that shaped Broad River into the premier Ashley Store operator it is today. Charlie relates lessons learned from both successes and failures, highlighting the company's relentless pursuit of excellence and the value of collaboration.  In the next episode, Charlie will be focusing on the transformative events of 2015 and beyond.  Additional Resources: Nick Saban Video Clip on High Standards that was played at the beginning of this presentation - "Mediocre People Don't Like High Achievers, and High Achievers Don't Like Mediocre People" - https://www.youtube.com/watch?v=14_PNe3lcaE From Stories from the River General Manager Series - https://www.youtube.com/playlist?list=PLYZpX9KD7OqbAb8ZN5KEk5fCQt0vLMaXR From Stories from the River Founders Scholarship Fund Series - https://www.youtube.com/playlist?list=PLYZpX9KD7Oqb22Apq_6qBhE2-KZlRpN56 From Broad River's Archives - the Savvy Spaces YouTube Channel - https://www.youtube.com/@SavvyFurniture "The Great Game of Business" by Jack Stack - https://www.amazon.com/Great-Game-Business-Expanded-Updated/dp/0385348339 The Great Game of Business - https://www.greatgame.com/ Watch this episode on YouTube: https://youtu.be/ZacOr4KMGqk  Visit https://www.storiesfromtheriver.com for more episodes. Broad River Retail brought this show to you. Visit https://BroadRiverRetail.com                                Follow us on LinkedIn: https://www.linkedin.com/company/broad-river-retail  

What does it take to create a workplace where people thrive, expectations are high, and trust is real? In this episode, Eric Stone shares practical advice from his book Jumpstart Your Workplace Culture. From leadership values to employee development, you'll walk away with powerful tools to transform your organization. The Top 3 Key Learnings 1. Culture is the catalyst for execution — Strong relationships, clear communication, and the right tools empower teams to perform at a high level. 2. Training must be practical and continuous — Combine corporate learning with real-time coaching to drive real growth. 3. Accountability builds trust when done right — Set expectations, provide support, and use accountability as a tool to grow, not to punish. About Eric Stone ERIC D. STONE'S passion for business led him to an influential twenty-six-year career at the iconic rental car company Enterprise Holdings, where he quickly became one of the most decorated Regional Vice Presidents in the company's history. His ability to connect and motivate employees from all different generations and demographics allowed his teams to sustain top-level results and a culture of pride. Eric attributes much of this success to his ability to create, ignite, and sustain a high-performance culture—one that enabled him to lead his teams through challenges like 9/11, the Great Recession, the COVID-19 pandemic, and the Great Resignation—along with an extraordinary ability to adapt to the unexpected and help others do the same. Eric is the author of the award-winning book Jumpstart Your Workplace Culture and an international speaker on leadership, employee engagement, and creating high-performance organizations. He retired from Enterprise in 2018 and founded Clear Path Ventures, which specializes in guiding young professionals and businesses as they navigate their path to success. The two awards the book has received thus far are The Pinnacle and The International Book Awards. Resources Clear Path Ventures: https://www.ericdstone.com/ https://www.ericdstone.com/ Please, hit the follow button: Apple Podcast: http://cxgoalkeeper.com/apple Spotify: http://cxgoalkeeper.com/spotify We'd love to hear your thoughts — leave a comment and share your feedback! Follow Gregorio Uglioni on Linkedin: https://www.linkedin.com/in/gregorio-uglioni/ About Gregorio Uglioni: Transforming Business Into Value Generating Engines - Creating Long-Lasting Impact Leveraging Customer Experience - Host Of The Globally Recognized CX Goalkeeper Podcast “Customer Experience Goals” - Speaker at global events & at podcasts - Judge at International Awards - CX Lecturer for several institutions Listen to more podcasts on The Agile Brand network here: https://agilebrandguide.com/the-agile-brand-podcasts/

In today's episode of The Edge of Excellence podcast, Matt is joined by Chris Marsh, Founder and CEO of Cherry Tree Capital Partners and the Co-founder of BCT Development.This episode explores the journey of building something meaningful from the ground up—full of twists, resilience, and leadership lessons learned the hard way. You'll discover the importance of vision and trust, such as how persistence and culture-building often outweigh technical skills in achieving long-term success. Along the way, you'll get a glimpse into the mindset shifts that drive breakthrough moments in both career and personal growth.Matt and Chris also unpack the power of goal setting, emphasizing how defining clear values and missions can transform self-limiting beliefs into sources of motivation. They touch on the mental battles many face and offer insights into how reframing those internal narratives can fuel resilience and grit. By weaving personal anecdotes with practical advice, the conversation invites you to rethink what success truly means and how to pursue it with purpose.The blend of personal reflection, strategic insight, and heartfelt stories makes this episode a compelling listen for anyone striving to make a difference in their own way.Don't miss another episode of The Edge of Excellence podcast. Leave a review and subscribe todayWhat You Will Learn In This Show:Chris's upbringing in a working-class household in Blackburn, Lancashire, and his early struggles with education.His move to the United States, initially on a tourist visa, and his eventual employment at the Irvine Company.How the Great Recession led to a shift in the real estate market, with a focus on apartment development.Chris's personal experiences of overcoming self-doubt and the impact of having a clear vision and mission.The importance of making a positive impact while building a successful business.And much more...Guest Bio:Chris Marsh is the Founder and CEO of Cherry Tree Capital Partners and Co-founder of BCT Development. With over 30 years of experience in commercial and multi-family real estate, Chris spent 18 years at Irvine Company, rising to President of the Apartment Division, where he led the development of 22,000 new apartment units and grew the portfolio from 40,000 to 62,000 units. Cherry Tree focuses on acquiring and managing multi-family assets in the Midwest, preserving affordable housing and enriching communities through educational centers. In 2023, Chris co-founded BCT Development with Bain Capital Real Estate to create innovative rental townhome communities in Southern California. Committed to child education and community development, Chris serves on several nonprofit and advisory boards. He holds degrees in Quantity Surveying and Project Management from UK universities.Resources:Cherry Tree Capital PartnersChris's LinkedInDisclaimer: The views, information, or opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of The Edge of Excellence podcast or its affiliates. The content provided is for informational and entertainment purposes only and is not intended to be a substitute for professional advice. We make no representations as to the accuracy, completeness, suitability, or validity of any information on this podcast and will not be...

In this episode of the Income Flip Podcast, we dive deep into the world of real estate investment with seasoned expert Frank Rizzo. With over 25 years in the industry, Frank shares his journey from a young entrepreneur to a successful real estate investor. Discover the strategies that helped him navigate the Great Recession, his focus on unique investment opportunities, and his current ventures in the manufactured housing space. Whether you're a budding investor or a seasoned pro, Frank's insights on market trends, community development, and investment opportunities are sure to inspire and inform. Tune in to learn how to spot undervalued assets, build impactful communities, and create lasting wealth in real estate.

I want to share a story you may have heard before—but it's worth telling again. When I finished surgical training and joined a practice in 2008, we were in the middle of the Great Recession. But for me, the recession didn't mean anything. My net worth was below zero. I'd made less than $50K a year for seven years. I wasn't worried about losing money—I didn't have any. What I did have was a new six-figure salary and a baby on the way. Suddenly, I had to start thinking like a grown-up. I needed to protect my family. I needed life insurance. But I had no idea what that really meant. I started asking around. One of the younger surgeons told me to “buy term and invest the difference.” That's what Dave Ramsey and Suze Orman were preaching on TV too. But an older surgeon—close to retirement—told me something very different. He'd been financially wrecked by the market crash and said permanent life insurance was one of the only things keeping him afloat. Here's the thing: they were both kind of right. The young guy was right that most permanent life insurance is designed in such a way that it is a terrible investment. But the older guy had discovered something the hard way—permanent life insurance can offer unmatched financial stability when everything else is falling apart. Still, neither of them understood what I would come to learn just a few years later from some of my wealthiest friends. You see, permanent life insurance isn't one thing. It's a flexible tool. In the right hands, it can be optimized for estate planning, tax-free growth, or even used as a powerful retirement income strategy—especially for those of us who started making money later in life. That's when I took a deep dive, even getting a life insurance license so I could fully understand the mechanics myself. What I found became the foundation for Wealth Formula Banking, Wealth Accelerator, and now, Wealth Accelerator Plus.  In fact, some of these strategies are so effective that they've already helped people like me “catch up” on retirement income planning—even if we didn't start earning real money until our 30s. On this week's show, I talk with one of my new partners at Wealth Formula Banking, Brandon Preece. We unpack common misconceptions about life insurance, discuss mainstream strategies, and then go further—exploring new protocols that could be game-changers for your financial future. If you haven't learned about this stuff yet, it's time. And if you have, it's time to revisit all of these strategies. These strategies have played a major role in my financial life—and in the lives of many in our Wealth Formula community. And I can honestly say that I don't know of a single person who ever regretted setting up a plan!

Laurie Harbour, Partner at Wipfli LLP, joined Jamie Flinchbaugh on the People Solve Problems podcast to discuss leadership's critical role in integrating the next generation of manufacturing talent. Laurie, author of Tradition Meets Transformation, brings over 35 years of manufacturing experience helping companies improve efficiency and profitability. Laurie explained that American manufacturing faces a significant generational gap. During the 1990s and early 2000s, parents encouraged their children to pursue four-year degrees rather than manufacturing careers, creating a shortage of workers in the 35-45 age range. This gap widened after the Great Recession further diminished interest in manufacturing careers. The result is an aging manufacturing workforce alongside a gradual influx of younger talent with different skillsets. This talent gap has created serious consequences. Laurie noted that many companies relocated manufacturing to lower-cost regions worldwide partly due to domestic worker shortages. When COVID increased manufacturing demand in North America, companies struggled to find qualified workers, often hiring undertrained temporary labor that negatively impacted quality, delivery, and safety metrics. Many manufacturers now experience 30-40% turnover rates because they fail to engage and retain younger workers. The new generation brings valuable technology skills to manufacturing, Laurie emphasized. Young workers excel at using tools like Excel, programming languages, and Power BI to analyze data effectively. Their efficiency with technology often exceeds that of experienced workers, and they naturally identify process inefficiencies that veterans might overlook. However, they lack the manufacturing process knowledge that experienced workers possess. Laurie advised that successful manufacturers create environments where generations collaborate rather than compete. Some older leaders mistakenly believe younger workers need decades of experience before making meaningful contributions. The best companies instead form cross-generational teams where experienced workers share tribal knowledge while younger staff contribute technological insights. This engagement reduces turnover, as younger workers particularly want to feel their contributions matter. For senior leaders approaching retirement, Laurie recommended embracing transformation rather than coasting on experience. She shared examples of companies that thrived after promoting younger leaders with proper support structures like advisory boards and mentorship programs. For younger manufacturing professionals, Laurie stressed the importance of humility. She observed that successful young leaders recognize they don't need to be the smartest person in the room but must facilitate dialogue and ask good questions. The most effective emerging leaders actively seek mentorship and embrace being uncomfortable as they grow. Laurie remains passionate about revitalizing manufacturing's image, particularly among women who represent 50% of the potential workforce. She's dedicated to educating school counselors and others who might discourage manufacturing careers despite their excellent compensation and technological sophistication. Learn more about Laurie Harbour's work at www.wipfli.com or connect with her on LinkedIn at https://www.linkedin.com/in/laurie-harbour-264a253/.

Join our community of RE investors on Skool: https://linktr.ee/gabepetersenCERTIFIED FINANCIAL PLANNER'S REAL ESTATE SUCCESS STORY

Register here for the live online event to learn about ‘Unlocking BRRRR Deals in Little Rock on Thursday, July 17th at 8PM Eastern. Keith discusses the competitive nature of short-term rentals (STRs) and the need for hosts to offer luxury amenities to attract guests. Long time investing pro, Alex, joins us to cover the BRRRR strategy in Little Rock, Arkansas, an investor-advantaged market, emphasizing its low property taxes and stable cash flow. They explain the BRRRR process, including: buying, renovating, renting, refinancing, and repeating.  The strategy allows investors to scale their portfolios with minimal initial capital, offering a 0% management fee in year one and 4% in year two.  Resources: Register here for the live online event to learn about ‘Unlocking BRRRR Deals in Little Rock on Thursday, July 17th at 8PM Eastern. Show Notes: GetRichEducation.com/561 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching: GREinvestmentcoach.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Automatically Transcribed With Otter.ai    Keith Weinhold  0:01   Welcome to GRE I'm your host. Keith Weinhold, anymore when you own short term rentals like Airbnbs and vrbos, you are in an all out arms race competing to provide amenities like never before. Then what happens when you take the popular burr real estate strategy and overlay it with one of the most investor advantaged markets in all of America. It's a lucrative opportunity. You'll see how and why today on get rich education.    Keith Weinhold  0:32   Mid south home buyers, I mean, they're total pros, with over two decades as the nation's highest rated turnkey provider, their empathetic property managers use your ROI as their North Star. So it's no wonder that smart investors just keep lining up to get their completely renovated income properties like it's the newest iPhone. They're headquartered in Memphis and have globally attractive cash flows, an A plus rating with the Better Business Bureau, and now over 5000 houses renovated their zero markup on maintenance. Let that sink in, and they average a 98.9% occupancy rate, while their average renter stays more than three and a half years. Every home they offer has brand new components, a bumper to bumper, one year warranty, new 30 year roofs. And wait for it, a high quality renter. Remember that part and in an astounding price range, 100 to 180k I've personally toured their office and their properties in person in Memphis. Get to know mid south enjoy cash flow from day one. Start yourself right now at mid southhomebuyers.com that's mid southhomebuyers.com   Speaker 1  1:58   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  2:14   Welcome to GRE from North Conway, New Hampshire to North port, Florida and across 188 nations worldwide. I'm Keith Weinhold, and this is get rich education, happy July, the second half of the year. And my favorite month of the year is your Airbnb fancy enough, because anymore STRS short term rentals have gotten so competitive that hosts treat their properties like white lotus level hotels. Now, STRS were never passive, but they become even less so it is active income. Once upon a time, Airbnb hosts could just sort of drop a few colorful throw pillows on their fold out couch and make a killing. But no more those days are so far gone. The STR game has changed drastically. I mean, you used to be able to list a basic home with generic furniture that you got at Costco, minimal amenities, no Wi Fi, and still get it booked, but today, it will sit empty unless you offer more than just a place to sleep. You have to build an experience for Airbnb guests. Now, increasingly, hosts are doing things like adding outdoor kitchens, arcade machines, putting greens, even basketball. And now, though these upgrades do cost a lot up front, they can pay off. These amenity types can double your nightly rate, but they come with more responsibility and more to maintain. I mean, more guests are expecting a flawless experience. The trend is that Airbnbs are becoming full scale hospitality operations, and if you don't treat it like one, you're going to fall behind. So simply having a nice house that just no longer cuts it, running a short term rental today is nothing like it was even two or three years ago. You used to be able to stand out with a decent bed and colorful throw prolos, but now guests are basically comparing your place to boutique hotels. Hosts are deeply investing in design, forward furniture, layered lighting and featuring spaces that some market as what they call moments like cozy reading corners in these luxurious bathroom setups, adding things like welcome guides and even complete brand identities with a proper. Name and even a logo and a story to give the place some personality, even writing up a history for your property, even if it's not that historic. Now, these sorts of tactics, they actually do, seem to work. Guests will give you more bookings, better reviews, and guests even share the space on social media like it's somewhat of a lifestyle destination now sometimes STR hosts, they team with these other platforms to add welcome champagne in ice buckets on site, sommeliers, private chefs, daily, housekeeping on demand. 24/7 textable concierges, heated plunge pools and other amenities through you partnering with some of these platforms and these upgrades don't come cheap. The publication called the playbook, they featured an STR in Sag Harbor, New York, where the property owner invested $85,000 into overhauling the landscaping and adding a James Turrell Inspired LED light installation. But overall, these improvements boost rental revenue by an average of 40% over what the property was collecting previously. All right, so this is a case study now, though, this STR trend of offering deep hospitality and luxury amenities has turned into more of a job and less about passive income. You know, really, this is free market capitalism, because this is competition to see who can provide the best service at the lowest price, but that's what it is. So this is making real estate less of a good and more of a service. Short term rentals soaring supply, day rate compression and AI driven pricing tools. That means that the just this all nice house with good photos thing that no longer cuts it. It is an amenities arms race now, and of course, this is a national trend. It doesn't mean that it's happening absolutely everywhere. In some places, hosts are able to charm guests simply with something like a freshly baked loaf of banana bread, but the consensus is whether they spend a little or a lot, Airbnb hosts unanimously say that they've got to work harder in order to keep guests happy. It's become more of a business and less of a side hustle than it used to be. You've got more hosts leaning into higher upfront investments because they know guests will pay for a sort of turnkey, Instagrammable experience. And this really is a classic early adopter issue, just like a lot of things, Airbnb launched in 2007 by the way, so this sort of first wave of Airbnb hosts back around 2012 to 2015 they were riding a blue ocean back then. There was virtually no competition. There weren't any standards, and there were plenty of bookings, and that made a lot of hosts pretty fat and happy. But that's not where we are now, really. The bottom line is that in many markets, short term rentals have transitioned from partial passivity to all out hospitality. That's the Airbnb arms race. The average Airbnb nightly rate for North America. Do you care to venture a guess at the average nightly rate? It is approximately $216 per night, and that right there is up 26% from 2020 so it is not up as much as house prices over that five year period from 2020 really, the Airbnb rate is up about as much as the long term rental rate.    Keith Weinhold  8:58   While we're talking numbers a quarter recently ended. Let's hit on our asset class rundown. What's happened to home prices in the past year? Well, when you aggregate all these sources, Zillow, Freddie, Mac case, Shiller, FHFA, in totality, home prices are up 2% single family rents are up 3% apartment rates are down 1% due to their oversupply. The 30 year mortgage rate was 6.9% a year ago, and it's 6.8 now. CPI inflation is 2.4% expressed in year to date terms. Now the SP5 100 is up 5% in the first half of this year, ending near 6200 the dollar is down. That means that it takes more of them to buy gold, which is over $3,300 an ounce, gold is up 27% just from the start of this year, and the oil price is still depressed in the 60s. Per dollar for a barrel, Bitcoin still strong, ending the quarter at 106kthat's your asset class rundown, which we do about quarterly.    Keith Weinhold  9:57   Hey, I really enjoyed meetingside. Of you on this year's terrific real estate guys Investor Summit at sea was concluded about a week ago. It was two days on land in Miami, followed by a week of conferences and fun aboard a Caribbean cruise ship. I really got to meet you and get to know you, because we had nine days together, and as one of the faculty members, I hosted a table at dinner every night, and each night the attendees rotated around to my table, so I got to meet a lot of you and really get to know you, and you got to know me. Yeah, it was as interesting for me to meet you in person, perhaps, as it was for you to meet me, because I like to hear what you're doing in real estate, investing, in everything else. I gave a main stage presentation that was almost an hour of all me, all GRE and also served on five different panel discussions. Oh, it's such a unique event. Get this, I was kind of dressed up to give my main stage presentation, which so many of you, by the way, told me afterwards, that that was your favorite presentation of them all, all week long, because each faculty member made a main stage presentation. But what I want to tell you is, just a few hours after I presented, on the cruise ship, I was shirtless in the water throwing a football around at the beach in St Thomas Virgin Islands. What an event. Fantastic to meet a number of you in person. So far today, I hope what I've shared with you has been informative. Next. It's something informative and really actionable that you can make lucrative that's next. I'm Keith Weinhold. You're listening to get rich education.    Keith Weinhold  11:45   The same place where I get my own mortgage loans is where you can get yours. Ridge lending group and MLS, 42056, they provided our listeners with more loans than anyone because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. Start your pre qual and even chat with President Caeli Ridge personally, while it's on your mind, start at Ridge lendinggroup.com. That's Ridge lendinggroup.com.    Russell Gray  12:16   You know what's crazy your bank is getting rich off of you, the average savings account pays less than 1% it's like laughable. Meanwhile, if your money isn't making at least 4% you're losing to inflation. That's why I started putting my own money into the FFI liquidity fund. It's super simple. Your cash can pull in up to 8% returns, and it compounds. It's not some high risk gamble like digital or AI stock trading. It's pretty low risk because they've got a 10 plus year track record of paying investors on time in full every time. I mean, I wouldn't be talking about it if I wasn't invested myself. You can invest as little as 25k and you keep earning until you decide you want your money back, no weird lock ups or anything like that. So if you're like me and tired of your liquid funds just sitting there doing nothing, check it out. Text family to 66866, to learn about freedom. Family investments, liquidity fund again. Text family to 66866.   Russell Gray  13:30   Hi. This is Russell Gray, co host of real estate guys radio show, and you're listening to get rich education with Keith Weinhold, don't quit your Daydream. You Keith,   Keith Weinhold  13:38   welcome back to get rich Education. I'm your host. Keith Weinhold, we're talking to a guest not only about an investor advantaged market, but when you overlay a certain strategy with it, this can be highly lucrative for investor returns, and we're with a long time investing pro Alex, welcome onto the show.    Alex Craig  14:04   Hi Keith, thank you.    Keith Weinhold  14:05   Well talking about top US cashflowing market, let's get right to it. Tell us about yours.   Alex Craig  14:11   Little Rock, Arkansas. It's a market that we've been in since 2012. I personally invest there. I've got about 75 doors of multi family, single family. And the reason why it works is just cash flow. Over the years, we've had investors from around the country that have owned portfolios where maybe they're somewhere in Phoenix or Dallas, where they're kind of speculating. This is not a speculation market, and that's why it works for myself. It's consistent. It's very linear, and linear is a word that we use a lot to describe. And if you're going to be a cash flow investor, and that's why I'm in it, it's you want a linear market. You don't want ups or downs, and then you want to make sure it's a growing market too. And Little Rock checks all the boxes of what you would want in a stable cash flow environment market.   Keith Weinhold  14:57   And I think a lot of our investor listeners are. Already pretty keen on that. You get a high ratio of rent income to purchase price. You have laws that heavily favor landlords over tenants. But Alex, in today's environment, people are more conscious about rising operating expenses and higher mortgage expenses, and that's really one advantage that Arkansas can give right now, is with those low property taxes   Alex Craig  15:20   Keith,it's so interesting you mentioned that because I did have a conversation with a client of ours that had a property in another market that he had mentioned how his property taxes had gone up and gone up substantially, which that's to expect. I mean, after COVID, there was a lot of markets saw a huge boost, especially with markets that saw hedge funds come in. Hedge Funds, I believe, ruined a lot of markets, raised the prices. And another reason I like Little Rock, it flies under the radar. You think is Little Rock is a small market, but it's really not. It's, I mean, the population of the city is 250,000 but the metro area, which is a 50 mile radius around Little Rock, is much bigger. And the entire, not only the entire market, metro area, feeds off little rock, really, the entire state does too. But that being said, because it's floating under the radar, the property tax have remained low. They've taken a little bit of bump over the years, because the values steadily go up, but they started low anyway. So with operating costs of insurance, insurance has gone up for a lot of for my own properties in other markets, it's going up, and it's going up in Little Rock too. I mean, it's just the name of insurance, but property taxes have remained low. They've always been low, and that's really a big help as to why this market works for us.   Keith Weinhold  16:30   Talking about flying under the radar, you're talking about, therefore evading a lot of that hedge fund money. Tell us more about the market and some of those anchors and drivers.   Alex Craig  16:40   It's a blue collar town. You've got logistics. Is a market, or is a segment of the industry that has really come on strong over the last few years, Amazon has really put a footprint in the market. Healthcare is a huge, huge market, like I mentioned earlier, not only does the region feed off the direct to the entire state, it's the hub of healthcare for the entire state of Arkansas, of course, it's government. Government provides a lot of jobs. The good thing about government jobs is they're maybe not on a national level anymore, but on a local, state level, they're very it's hard to get let go from a government job, unless now, not on a federal level, but it's very steady, so a lot of steady blue collar jobs, and that's what you want for a strong resident base, especially in the type of properties and 1000 to $1,200 price range, you want those blue collar study growing jobs.   Keith Weinhold  17:31   Yes, you do have those there. It's funny. I'm smiling a bit because I used to be a state government employee, and there's just no way that they ever would have fired me. I was so protective I had to quit in order for them to have to replace me at that job. I'm wondering about the new supply that's come on, Alex, because a number of markets have added supply. I know, for example, that Redfin reports that little rock median home price appreciation is up 7.3% year over year, and with the dynamics going on in the market recently, that typically tells us that there hasn't been that much new supply added. Is that what's going on there?   Alex Craig  18:11   No, there hasn't been a lot of new supply. I just think with little rock and every other market, the mortgage rates have gone up. Home ownership is down during COVID. It was really hard to get an investment property. For what we did, sending out our list every week. It was basically send out our properties, people hitting send and not even knowing what they were reserving. Rates were just low, right? Everybody's jumping in. It was hard to get inventory. So now what we have is, you know, higher rates that scares some people off. It pushes some people out on the market, but it also creates opportunity. I feel like this is the easiest time I've been investing in real estate since 2007 that was the foreclosure crisis, Great Recession, and it was a lot of foreclosures on the market, and that's how I built a big chunk of my portfolio. But now it's just a matter of there's not as many people in it. So for us, there's just more acquisitions for us to go out and get. There's still distressed homes on the market where individuals don't want to hire a realtor, they just want all cash offers. They're ready to get rid of them, and that's where we step in. And without as much competition like I said, we kind of fly under the radar. I feel it creates more just supply inventory for us and for me as an investor, but also for our clients too   Keith Weinhold  19:23   with that in mind, and again, a lot of our audience is already on board, knowing that little rock in Arkansas is a good cash flow market with stable, long term fundamentals, but in order to make it more profitable, you've overlaid it with a certain strategy there in Little Rock. Tell us about that.    Alex Craig  19:45   So the BRRRR strategy, yes, it's able to work now because there's not as many buyers in the market. So basically, the way the burrs strategy works is we acquire a property. I'm just going to use very round, simple numbers for simple math makes it easier on me   Keith Weinhold  19:58   and we're talking the BRRRR. Strategy that's buy, renovate, rent, refinance, and repeat. Those are the five investor steps.   Alex Craig  20:07   correct. And so that's what we do, is we buy. Let's just say the B. Let's take the B, for example, we buy a home, and we buy it for 60,000 where I'm just talking like if I own the home, and then I put $20,000 into the deal. So now I'm all into it for 80,000 and you have to remember, there's some in between, cost of closing costs. I'm just talking just very general strategy. You buy it for 60, you put 20 into it, and all of a sudden you're in it for 80, and the value comes back at 100 so you're in it for 80% of the after repair value. Most Fannie Mae lenders will do 75% so if you purchase a house outright, you put 20% down, but if you are doing a refinance, you're able they'll do it at 75% so instead of buying a home and putting it down payment upfront, you're using equity in the deal. And that's what the burst strategy is, buy renovate. So we buy it, we renovate it, we refinance it, we rent it out, and then you repeat it. So it allows for investors to scale their portfolios quicker and stretch their money a little bit further. So if you've got, I've got $50,000 and I want to invest in real estate, if you purchase a home, you're bound by the down payment. Once you put that down payment, it's, I wouldn't call it sunk cost, but that money's gone for reinvesting. The burr model allows you to stretch that money a little bit further. Now, like I said, I gave pretty basic numbers to the deal, but that's what you're going for. Some equity in the deal, and that's what we're able to provide for ourselves and for our clients.   Keith Weinhold  21:38   So let's review that numbers on a little rock burp, making a $60,000 purchase with a pre renovated property. Then the investor puts another 20k into it for the renovation. So now they're all in for 80k and they get a 100k appraisal on that property, and then they can borrow, say, 75% of that there, that is the refi portion, the fourth letter of the BRRRR acronym. So therefore they've got 80k into it, and they got 75k back, meaning they would only have 5k into it, but maybe another 5k for closing costs, and now they only have 10k in to a 100k property. That's the appeal. That's what we're talking about here with the BRRRR   Alex Craig  22:22   strategy. I mean, you're exactly right. And as I mentioned, I use some really basic numbers, because when you're using, you know, 100,060 and 20 makes them very basic. It's pretty hard to find out a deal worth 100,000 these days, even when we started in the industry, 100,000 was a pretty cheap after pair value. Probably the mean value of the homes that we're dealing in is probably about 140 to 140 to 160 but same principle, based on those same logic that what we just talked about, I wouldn't say, you know, five or 10k out of pocket, but if you're talking about purchasing a deal with 25% down versus doing a bur you're probably going to be in it at 15% Out of pocket costs 10 to 15% as opposed to putting a down payment of 25% but the big thing is, you're getting money back, and you're not putting as much so just it's great for scale. I don't know if you'll talk about DSCR lending very much on your show, but that's something that a lot of our clients, and that does 80% so we have a lot of clients going that route now too.   Keith Weinhold  23:21   Okay, so you could do 80% with debt service coverage ratio loans, but to drop back in our example, to help be clear, the investor has 80k of their own skin in the game into the property, 60k for the purchase, 20k for the renovation, even though they only have 80k in it appraises for 100k that ARV, that after repair value. Why is the after repair value 100k when you only have 80k into it? Why is it more?   Alex Craig  23:49   that's based off comparable sales? So when you're in it at 80, and you're going to refinance it through a lender, they're going to send an appraiser out, and appraiser is going to pull comparable sales within that neighborhood. So just because you're in an 80 the appraiser is going to go pull three comps, very similar to that home. So if we're selling a three bedroom one bath, they're going to pull three comps at a three bedroom one bath, relatively the same size look, if it's got a carport, they're going to try to find three houses with the carport. So in theory, that's what they're doing. They're pulling comparable sales and developing new value based on recent sales.   Keith Weinhold  24:23   So it's that you have this knowledge to buy in neighborhoods and buy in certain sub markets, where, when you know that capital is added and renovations are made and a rehab period that they do tend to appraise for that value based on the comparables that are already there.   Alex Craig  24:40   Yeah. I mean, if we were to take the same house at 60,000 and didn't do any work, he would then say, well, you've got some comparables here versus 100 but you could never sell this home for 100 these are the things you have to do, and that's what we do during the first R the renovate of the acronym is to renovate the home to the condition that the. Appraisers feel that are comparable for the neighborhood, and that's a real important part, is comparable to the neighborhood. We could go in and put in a Jacuzzi tub and grain of countertops. We actually, we do put a lot of grain in, because we get it so cheap. But you could go in and fix it up to the nines, but it's not going to appraise for any more than the others, because the appraiser would say, we over improved it. So we improve it to what we know, what the kind of the standard for the neighborhood? Because you could over improve these things for sure and not get that return on that investment.   Keith Weinhold  25:28   That is a great answer. There is a specific improvement target that you know that needs to be hit. Tell us more about this burr process, because to an out of area investor, it can sound pretty intimidating if they had to manage contractors remotely themselves,   Alex Craig  25:43   there definitely is a need to have a team on the ground that you trust, that you feel comfortable with, and that's what we've done. I've been doing it in multiple markets for myself since 2007 and we built into a business model in 2010 like I said, expanded Little Rock in 2012 and we've been doing this for 15 years now for other investors. So we've got that name and that reputation of taking care of our investors, that's the important part. And we do see a lot of investors get burned, because you can find a realtor to go to help you find deals, but usually the realtor relationship is thesis to end. It's okay, I found you a deal, but then there's so many other things afterwards, and the renovations, where I see so many people get burned, and you know, we manage approximately 1200 homes between two markets, and that's where I see when property owners come to us, they've been burned the most. It's like they've paid somebody $50,000 they didn't finish the job, they didn't do what they say they're going to do. So the renovation that we're the team on the ground, we've got a in House Project Manager, we've got a network of subcontractors. We tend to act as the contractor, subbing things out. We've got in house property management. We've got all the tools, but it's really between both. In the markets in which I operate. I've got about 30 employees within property management, renovations, acquisitions, so the team on the ground is and then the back in the property management part is the long, ongoing accountability. So if something doesn't work out, that's the way we said it. If we say it's going to rent for 1200 and we rent it out for 900 Well, we really got a big egg on our face. You do a few of those, and that's how you don't stay in business anymore. And there's, and I like to say, about every five years the market corrects itself into getting the wrong players out of the business. COVID was super easy, easy to find deals, easy to sell deals. But once the market changed and it became a little more competitive and rates rose, that's the people that have been around for the long time, been in it for the long haul, that stick around. They've got the established business model and their reputation. So every five years, a good correction in the market eliminates those bad players.   Keith Weinhold  27:47   So you have this vetted, proven in play system that investors can get into besides just identifying the property, it comes with that system, those contractors or that investor just has one point of contact with you there for updates on the renovation.   Alex Craig  28:03   Yeah. I mean, I feel like we know these neighborhoods. I like I feel we know these neighborhoods like the back of our hand. We've been investing in them for a decade plus, and we know the areas you want to be in, the areas you don't want to be in. And we have a lot of investors will call us either they already own the property or they're a current client, and they'll say, Hey, I could get this deal for 30,000 and it's worth 100 and I'm like, Well, that sounds too good to be true, especially if it's on the open market. If it was that good of a deal, it's already gone. We just know the market, where to be. We know what to pay. We could, pretty much just through our experience, identify a house we know probably within about five to 10% before we even dive into comparable sales of what it's worth. We could walk through a house within probably about three to five minutes and peg the renovation costs probably within about 10% now we still order an inspection, and that's where we uncover the things that we can't see, that maybe there's a bunch of rotted out joist or a foundation problem that we didn't see. So, but there's things aside we could walk through and we pretty much know, okay, it needs a roof that's 7000 it needs an air conditioner that's six flooring, two. So that's the expertise that we bring and like. So then the management part of it, on the back end, that kind of ties it all together with accountability.   Keith Weinhold  29:22   And I know that your typical project renovation cost tends to be about 25k just for simplicity, we use 20k in that example, and your completion times are shorter than others that have inexperienced crews. So tell us about that typical renovation time. Alex.   Alex Craig  29:39   every day we're accomplishing 500 so 25,000 divided by 500 comes to 50 days, 50 days. So we'll knock that out in about 50 days. And we just have a large network of subcontractors that we've been working with for years. If you weren't in the business, I think that'd be really hard to accomplish, and there's just a lot that. Goes into it. I mean, the renovating the homes, it's the once, it's the worst, it's the hardest thing that we do. For sure, it's definitely the most scheduling, but it's where, if you don't know what you're doing, a great deal turns into, how do I get out of this?   Keith Weinhold  30:15   Right, absolutely. Now, in our example, we used where an investor puts 60k into it for the purchase to start with, because I see the burst strategy is a good strategy. If someone doesn't have a lot of capital, like they would for maybe a new build property, can one even finance that initial purchase amount?   Alex Craig  30:35   Yeah, so private lending. So that's the part that makes if you've only got 50 grand to facilitate this entire process, and you want to try to repeat it as many times as you can. 50,000 would not be enough just to pay cash. So yes, we have private lending. We set that up. Sometimes we lend it ourselves. Sometimes we outsource it to some of our strategic partners, but we'll lend the money to buy and renovate the home. A typical what that loan would look like it's about 3.3 points of loan origination. So if you've got an $80,000 loan, that's $2,400 most lenders do require for you to bring that up front, and now you're in it for an $80,000 loan at 12% which, five years ago, that sounded crazy to borrow at 12% but with for private lending, that's not bad at all, especially you want to get in and out of it quickly. So if we're renovating the home, and you know, 50 days, if you're already pre approved with your lender, and they have all your documents by the time we finish renovating the home, the appraisals lined up, and you could be in and out of these private loans in about 90 days. That love that depends on the lending side, that you're giving the lender what they need. But ideally you want to be in these things about 90 to 120 days. So $80,000 loan at 12% that $800 a month. So if you're in it for 90 days, 800 times 320, 700 plus the loan origination fee. But that's how you do it. That's the you're just borrowing money to finance the acquisition, the rehab and the refinance   Keith Weinhold  32:03   that is an option for you if you don't have the cash here to come in with these burr strategy properties. Alex, tell us more about it. Really, what I would like to know is, when an investor gets their appraisal, their after repair value, how many want to sell it for a profit, and how many want to hold it with a tenant for long term income   Alex Craig  32:26   so far, zero. Want to sell it for a profit. If you're all in it for add and then you're selling for 100 once you sell it, there are other fees involved. You got to hire a realtor. Right now is a great time to hold it's a slow real estate market. I don't think Little Rock from an aspect, is where home ownership is down. I think that's a nationwide thing. So I think if you're going into this, you certainly want to look at it from perspective. This is a buy and hold. I don't think this is the best market to get into to buy something. Flip it with a in the example, we use a $20,000 margin with buyer concessions, realtor commissions. That's a lot of work involved. And let's just say it did work out. You sold it for 100 but you had to pay 2% closing in an agent fee, and you got some holding cost. Let's just say you netted 8000 that might be good for a six month return, but I feel like there's a lot of risk. I feel like our job as what we do for our clients, is to minimize risk. So someone came and said, Hey, I want to flip it. I would say, Well, I don't think it's the best market for it right now. I think you want to get into this buy and hold.   Keith Weinhold  33:29   Yes, Alex has been doing this for a long time, and he's a specific expert right there in that local market. Buy and hold is a strategy that most likely makes sense. And he also strongly recommends pay cash if possible, instead of using that 12% short term private lending option, like he mentioned before, because that can cut out about four to 5k worth of transactional cost. And then if you do buy and hold what Alex and his company offer there in Little Rock is essentially a cash flow boost, 0% management fee in year one and only 4% in year two. So that gives you some extra cash flow runway as well. And Alex, before I ask you if you have any last thoughts, I want to announce to you the audience, that we have a live event virtually next week, on July 17, at 8pm eastern for Little Rock BRRRRproperties that Alex is CO hosting with our investment coach, Naresh, where you can find these bird deals in this cash flowing market. In Little Rock you'll see actual bird deals recently completed with full breakdowns of their purchase prices, sort of these case studies, where you can see some real numbers and what the rehab budgets are and what the actual timelines were, and what the refi outcomes were like, and explore BRRRR ready properties that are currently available to own, if you so choose, on this upcoming live event that you can attend from the comfort of your own home. Learn the full process, from acquisition to renovation to property management to the financing of them, and again, everything is all handled by local experts, so that you don't have to live with the nightmare of remotely managing contractors, which I couldn't imagine doing. So whether you're a first time investor or you're scaling your portfolio, this is your chance to get boots on the ground, insight and a proven road map to burr success and really one of the most accessible markets in the country. Again, Alex here is CO hosting the event along with GRE investment coach, Naresh Vissa. It is a free, live virtual event again next week, Thursday, July 17, at 8pm Eastern. Sign up is open now at gre webinars.com it ought to be great. Alex, teaming with local experts like you has been of real benefit to our audience. Do you have any last thoughts about either Little Rock or burrs or the events that you're going to co host with our audience next week?   Alex Craig  35:57   So here's my last thought, as you were, you know, kind of concluding and I was reviewing what we had talked about. And one of the questions we get sometimes it's a fair question. It's like, well, if this is such a great deal, why don't you keep all the deals? So we hear that from time to time, and the simple answer is, we do. We do keep a lot of deals, and we're buying more real estate now, like I said, I feel like it's the easiest time to get into real estate. So we do, we do keep a lot. We're building a very large portfolio right now, but the house flipping to investors is just another business model that we have. And Property Management too. And we love property management, and we love building investor relationships. We've had a lot of investors we've had been with us since day one that we've developed really tight relationships with. So yes, we do keep a lot of the properties, and we sell properties too, and we and helps us build our management company, which you don't hear too many people say this, but we actually love property management. That's a hard thing to love, but we actually like it.   Keith Weinhold  36:54   That is more weird than Tom wheelwright loving taxes, perhaps, but Right. But I want to deal with somebody that really loves what they're doing, especially when they're protecting our asset and probably more importantly, when it comes to property management, protecting our time. So that's right, Alex, well, our viewers and listeners are really looking forward to it next week, again, that live event Thursday, July 17, at 8pm Eastern is something that you can sign up for now at grewebinars.com. Alex, we're looking forward to it next week.   Alex Craig  37:27   Bye, Keith, thank you.   Keith Weinhold  37:34   Oh yeah. Terrific overview on why the burr strategy can be so profitable. And our event next week. Now, when you rent your primary residence, which you would typically do in a high cost area, and then you own rental property elsewhere, typically a low cost area, do you know what that's called? Yeah, there is a name for that. Last week we spoke to two listener guests in California that are doing just that. That is called rentvesting. And yes, Little Rock is surely a popular low cost market for rentvesting. I have been on the ground myself in Little Rock with Alex's associate to do an on the ground tour of properties. There you want to tap into a system where you've got the guiding hand of both experience and belief. That's what you're doing here. As like he said, Alex personally owns 75 doors there. That is belief, and he's been doing this for out of area investors for 15 years. That's the experience part real proof of concept at next week's event, you'll be introduced to this same system where you can lean on their team for acquisition, renovation and management. Little Rock has an MSA population of about 770,000 but I think more importantly today, savvy investors are conscientious of keeping their expenses down, and for good reason, since they've been up all over the place. Now, the purchase price is 140 to 160k for these BRRRR optimized single family rentals. Remember that we used 100k just for ease of an example there, usually when you buy income property, you're really in at close to 25% of the purchase price when you add up the down payment and closing costs, but this way, you're in for just about half of that at 10 to 15% another low expense is that property tax, statewide, Arkansas Property Tax is just 610 of 1% so that's half the national average. And then your management expense is definitely going to be low for the first two years, because it is 0% in year one and 4% in year two. And these are properties that you can actually be pretty proud of. You'll learn more about this. Scope of work with a renovation on the webinar, often granite countertops in the kitchen is a live, remote event. So this means that you can have any of your questions answered in real time. Should you have them? As you can imagine, demand is high for these properties, and this is a chance to get connected directly with the team that makes it happen. We might never get Alex on an event like this again, and is co hosted with our GRE investment coach, Naresh. It's next week. It's free, Thursday, July 17, at 8pm Eastern, 5pm Pacific. Sign up now, or your future self might not be able to forgive yourself. You can do that now at grewebinars.com Until next week, I'm your host. Keith Weinhold, don't quit your Daydream.   Speaker 3  40:56   Nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC, exclusively.   Keith Weinhold  41:19   You know, whenever you want the best written real estate and finance info, oh, geez, today's experience limits your free articles access and it's got pay walls and pop ups and push notifications and cookies disclaimers. It's not so great. So then it's vital to place nice, clean, free content into your hands that adds no hype value to your life. That's why this is the golden age of quality newsletters, and I write every word of ours myself. It's got a dash of humor, and it's to the point because even the word abbreviation is too long, my letter usually takes less than three minutes to read, and when you start the letter, you also get my one hour fast real estate video. Course, it's all completely free. It's called the Don't quit your Daydream letter. It wires your mind for wealth, and it couldn't be easier for you to get it right now just text. GRE to 66866, while it's on your mind, take a moment to do it right now. Text, gre to 66866   Keith Weinhold  42:35   The preceding program was brought to you by your home for wealth, building, getricheducation.com.

The Guadalupe River in Central Texas rose more than two feet in less than an hour, according to state officials. We speak to Rice University professor Avantika Gori about why the storm was so intense and what can be done to better warn people ahead of such intense weather. And, the sweeping domestic policy bill that President Trump signed into law last week ends incentives for wind and solar energy. Reporter Matthew Daly unpacks the future of U.S. energy. Then, government statistics show the number of people taking second jobs is almost as high as it was during the Great Recession. Wall Street Journal columnist Callum Borchers explains why.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy

Lauren Aloise started leading food tours in Madrid during the Great Recession, and had soon turned Devour Tours into a thriving business. Learn how Lauren went from recipe blogger to travel entrepreneur, her favorite regional Spanish foods, what she thinks about the future of Spanish tourism (and the risk posed by anti-tourism protests) and more.Book a food tour in Madrid, Barcelona or elsewhere at https://expatmadrid.com/devour/Walking tours and unique experiences with Devour's sister company, Walks Tours here: https://expatmadrid.com/walks/Or check out the recipe blog that started it all, it's called Spanish Sabores and it's at https://spanishsabores.com/

Why does the economy look great on paper but feel terrible in your wallet? There might be a more revealing economic indicator hiding in your Spotify queue. "Recession Pop" first emerged during the Great Recession and exploded into playlists, radio formats, and DJ sets in 2024. From melancholy indie anthems to escapist dance tracks, the songs we gravitate toward during uncertain times might predict where the economy is headed next. Host Jonquilin Hill explores this musical phenomenon on Vox's "Explain it To Me," with Charlie joining in the second half to decode what our streaming habits reveal about financial anxiety and economic forecasting. Learn more about your ad choices. Visit podcastchoices.com/adchoices

The Five Obsessions of Elite Organizations with Michael ErathIn this episode of the Daily Mastermind, host George Wright III interviews Michael Erath, founder of Next Level Growth and author of 'Rise' and 'Five Obsessions of Elite Organizations'. Michael shares his journey of building a $45 million empire, losing it all, and then rebuilding from scratch. The discussion delves into his coaching methods for CEOs on scaling with clarity, the importance of having systems in place, and the five key obsessions that drive elite organizations: great people, inspiring purpose, optimized playbooks, a culture of performance, and growing profits and cash flow. Michael also emphasizes the need for radical honesty and effective coaching within organizations and shares strategies for hiring A players. The episode underscores the significance of mindset and intentionality in achieving business excellence.00:53 Michael Erath's Background and Early Career02:52 Challenges and Setbacks in Business04:03 Rebuilding and Developing Systems08:41 Core Values and Leadership15:42 The Five Obsessions of Elite Organizations22:32 The Importance of Playbooks in Sales Teams29:01 The Role of Profit and Cash Flow36:21 Finding the Right People for the Job39:54 Final Thoughts and Advice for EntrepreneursYou have GREATNESS inside you. I BELIEVE in You. Let's Make Today the Day You Unleash Your Potential!George Wright IIICEO, The Daily Mastermind | Evolution X_________________________________________________________P.S. Whenever you're ready, here are ways I can help you…Get to know me:1. Subscribe to The Daily Mastermind Podcast- daily inspiration, motivation, education2. Follow me on social media Facebook | Instagram | Linkedin | TikTok | Youtube3. Get the Prosperity Pillars Poster I Developed over 20 years from my Mentors.Work with me:My mission is to help you Master Your Mind, Money, & Business, and I firmly believe:It's Never Too Late to Create the Life You Were Meant to Live…a LIFESTYLE of Health, Wealth, and Happiness. Here are ways I've been able to help thousands of people over the past 20 years… 4. FREE DOWNLOAD: Download the FREE 12-Day Authority Formula Email Course.5. JOIN THE EVOLUTION: A Private Members Only Mastermind Group that includes Weekly Group CEO Mentoring, Courses, Resources & Live Events. We will Grow Your Authority.6. GET FEATURED: Grow Your Brand and Authority by getting interviewed and featured alongside celebrities and experts in Valiant CEO Magazine online.7. AUTHORITY LAUNCH: Get a Custom Authority Blueprint that will help you to Quickly Grow Massive Authority and Get Seen by Thousands in Less than One Hour using our Proven Formula.About Michael ErathMichael Erath is a seasoned entrepreneur who transformed his family's $8M business into a $45M global enterprise. After facing significant setbacks, including the Great Recession and internal fraud, he rebuilt his career by founding Next Level Growth. Michael is also the author of best-selling books like RISE: The Reincarnation of an Entrepreneur and The Five Obsessions of Elite Organizations.Resources:Website: nextlevelgrowth.comBook: Five Obsessions of Elite Organizations LinkedIn: Michael ErathYouTube Interview: Key Habits of Successful Organizations

As policymakers in Washington debate major legislation that, as written, would significantly reduce federal spending on Medicaid, Citizens Research Council released a brief primer on Medicaid in Michigan and the impact of those proposed cuts. Research Council Health Policy Associate Karley Abramson, the author of the paper, discusses the human and economic impacts of the proposed cuts with Research Council President, Eric Lupher. Senior Research Associate for State Affairs Bob Schneider joined the conversation with important context about the effect of the proposed cuts on Michigan's budget, likely to experience a loss of at least $2 billion per year if the bill passes as is. “As a matter of policy, Medicaid is relatively complicated, so it is not always easy to understand how a change in the law might impact the actual delivery of health care on the ground,” said Abramson. “If you are not familiar with how Medicaid eligibility and funding work, you would not necessarily realize how dramatically the proposed legislation could impact people and health care providers in the state.” Medicaid provides health insurance coverage to a significant portion of Michigan's residents (~23 percent) and is a vital component of the payment mix that health care providers rely on. Medicaid has taken on a larger role in Michigan over the last two decades, with spikes in enrollment during periods of economic downturns (2009 Great Recession and 2021 COVID-19) and the program's 2014 expansion under the Affordable Care Act. “We want to help establish the public understanding of how Medicaid works,” said Eric Lupher, president of the Citizens Research Council of Michigan. “Medicaid has such a large impact on the state, both as a share of the state budget and in terms of how many people have health insurance through the program.” If federal legislation is enacted with substantial cuts to Medicaid, states will be left to respond to problems on two related fronts: the impact on people losing care and the impact on those providing care. Cuts to Medicaid will increase the uninsured population by at least 200,000 residents who will be impacted by the effects of delayed care and increased financial hardship. On the provider side, the proposed Medicaid cuts may imperil local hospitals, particularly in rural areas, as well as other types of providers. If Medicaid spending is reduced substantially, some rural providers are likely to become unviable, which will not only impact those losing Medicaid coverage but also affect people living in those areas who have secure, private coverage. Policymakers will face difficult choices as the state is, necessitating cuts to the program, reductions elsewhere, or new revenue sources – none of which are attractive options.

Millennials' financial lives have been profoundly shaped by two economic events: the Great Recession of 2008 and the pandemic-era shutdowns. Now, the prospect of a third recession looms — what's this generation to do? Host Julia Carpenter explores what this could mean for millennials and their ability to prepare for the future.  Sign up for the WSJ's free Markets A.M. newsletter.  Learn more about your ad choices. Visit megaphone.fm/adchoices

What happens when a lawyer stops accepting inefficiency as “just the way things are”? In this episode, Zack Glaser talks with attorney and legal tech founder Katya Fisher about her journey from launching a solo practice during the Great Recession to building scalable tools for transactional lawyers.  Katya shares how her legal experience—spanning BigLaw, in-house, and solo practice—revealed pain points in the dealmaking process that technology still hadn't solved. She explains how she went from identifying those issues to building software that brings clarity, organization, and efficiency to high-stakes legal work.  Along the way, Katya unpacks:  The scrappy start to her legal career  How working solo gave her an edge inside a global corporate group  What legal professionals need to know about scaling their ideas  Why tech tools fail lawyers—and how that can change  Whether you're a lawyer thinking beyond the billable or simply curious how innovation happens in the legal world, this episode delivers practical insights with an entrepreneurial twist.  Listen to our other episodes on entrepreneurship:   #411: Staying Entrepreneurial at a Bigger Firm, with Nick Pleasants  Apple Podcast |  Lawyerist  #268: Riding the Entrepreneurial Rollercoaster, with Cameron Herold Apple Podcast | Lawyerist   #205: Entrepreneurial Poverty & Why Average Law Firms Lose, with Mike Michalowicz Apple Podcast | Lawyerist     Have thoughts about today's episode? Join the conversation on LinkedIn, Facebook, Instagram, and X!  If today's podcast resonates with you and you haven't read The Small Firm Roadmap Revisited yet, get the first chapter right now for free! Looking for help beyond the book? See if our coaching community is right for you.  Access more resources from Lawyerist at lawyerist.com.     Chapters/Timestamps:   00:00 Introduction: The Entrepreneurial Lawyer  01:02 Quarterly Planning: Intentional Business Growth  07:15 Solo Practice Origins: Scrappy Beginnings  13:36 The Competitive Advantage of Broad Experience  17:51 ADHD as a Superpower: Hyperfocus and Foresight  23:36 Accurately Identify a Business Problem  30:40 From Idea to Product: Building a Product or Workflow  36:10 Articulating Vision and Gaining Buy-In  41:14 Lessons Learned: Advice for Aspiring Innovators 

What happens when a lawyer stops accepting inefficiency as “just the way things are”? In this episode, Zack Glaser talks with attorney and legal tech founder Katya Fisher about her journey from launching a solo practice during the Great Recession to building scalable tools for transactional lawyers.  Katya shares how her legal experience—spanning BigLaw, in-house, and solo practice—revealed pain points in the dealmaking process that technology still hadn't solved. She explains how she went from identifying those issues to building software that brings clarity, organization, and efficiency to high-stakes legal work.  Along the way, Katya unpacks:  The scrappy start to her legal career  How working solo gave her an edge inside a global corporate group  What legal professionals need to know about scaling their ideas  Why tech tools fail lawyers—and how that can change  Whether you're a lawyer thinking beyond the billable or simply curious how innovation happens in the legal world, this episode delivers practical insights with an entrepreneurial twist.  Listen to our other episodes on entrepreneurship:   #411: Staying Entrepreneurial at a Bigger Firm, with Nick Pleasants  Apple Podcast |  Lawyerist  #268: Riding the Entrepreneurial Rollercoaster, with Cameron Herold Apple Podcast | Lawyerist   #205: Entrepreneurial Poverty & Why Average Law Firms Lose, with Mike Michalowicz Apple Podcast | Lawyerist     Have thoughts about today's episode? Join the conversation on LinkedIn, Facebook, Instagram, and X!  If today's podcast resonates with you and you haven't read The Small Firm Roadmap Revisited yet, get the first chapter right now for free! Looking for help beyond the book? See if our coaching community is right for you.  Access more resources from Lawyerist at lawyerist.com.     Chapters/Timestamps:   00:00 Introduction: The Entrepreneurial Lawyer  01:02 Quarterly Planning: Intentional Business Growth  07:15 Solo Practice Origins: Scrappy Beginnings  13:36 The Competitive Advantage of Broad Experience  17:51 ADHD as a Superpower: Hyperfocus and Foresight  23:36 Accurately Identify a Business Problem  30:40 From Idea to Product: Building a Product or Workflow  36:10 Articulating Vision and Gaining Buy-In  41:14 Lessons Learned: Advice for Aspiring Innovators  Learn more about your ad choices. Visit megaphone.fm/adchoices

Many home sellers are still sitting on strong equity, but that's not the case everywhere. A new Redfin analysis reveals nearly 6% of homes listed in May were at risk of selling at a loss—up from 4.4% last year. The risk climbs sharply for condos and homes bought after the pandemic, especially in markets like San Francisco and Austin. Nationwide, nearly one in three condos purchased post-2022 could sell below their original price. While losses remain rare compared to the aftermath of the Great Recession, today's buyers are gaining more leverage as sellers face pressure to adjust. Learn more about your ad choices. Visit megaphone.fm/adchoices

On this episode of Destination on the Left, Liza Graves shares her journey growing a 100% digital lifestyle publication that she started as a way to help small businesses through the recession. She talks about why it is important to find your North Star and how that can guide you through the ups and downs. We talk through some of the unique ways that StyleBlueprint helps DMOs and tourism businesses reach a traveling audience. What You Will Learn in This Episode: How Liza launched StyleBlueprint during the Great Recession to help support local businesses and why that mission has been the cornerstone of her company's growth Why it's essential to know your North Star as a business or destination, and how that core purpose can help you navigate challenges like economic downturns and the pandemic What it means to tell authentic, experience-driven stories about destinations and small businesses, and why origin stories resonate so powerfully with target audiences How StyleBlueprint partners with destinations and DMOs, and what makes a successful collaboration, including the role of co-ops and customized storytelling Why identifying your brand or destination's true story matters more than following trends, and Liza's tips for discovering and communicating those stories effectively How to break through the clutter when pitching stories to media outlets or digital publications, based on Liza's frontline advice for PR professionals and marketers What collaboration and community-building look like in practice, and why Liza believes working together leads to more sustainable, meaningful growth for destinations and businesses Finding Your North Star From the Great Recession to catastrophic floods and the uncertainty of the pandemic, Liza knows a thing or two about leading through adversity. Her advice is to have a clear North Star, your guiding purpose and values that keep you focused through turbulent times. During the pandemic, StyleBlueprint leaned deeply into its core mission: supporting local. Liza reached out personally to partners, offered flexible arrangements, and championed resources like PPP guidance. Because these actions were rooted in authentic care and community, her business not only weathered the storm but emerged stronger and with deeper trust. Her experience is a master class for tourism professionals: know your core, communicate gratitude, and adapt your offerings while never losing sight of the people and partners who make your destination or business possible. Finding and Telling Destination Stories That Resonate One of the signature advantages of StyleBlueprint is the way it dives deep, trading five-point “Top Things to Do” lists for rich, immersive lifestyle features. Liza advocates for destinations and businesses to invest time in uncovering their true stories, often starting with their own origin. Why did you open your restaurant, shop, or B&B? What local traditions or quirks define your town? It's not always easy to surface the stories closest to us—we're often “too close” to see what's special. Liza encourages hiring a professional storyteller if needed, or leveraging AI tools as a prompt to reflect on why your place or business exists and what personally resonates about its history or community role. These stories aren't just interesting, they magnetize your ideal visitor and forge lasting emotional connections. Strength in Partnerships A standout takeaway from the episode is Liza's embrace of “coopetition”—forming strategic, collaborative storytelling and marketing partnerships even among traditional competitors. StyleBlueprint's co-op articles group similar destinations, such as “guys' weekend getaways” or “mother-daughter retreats,” giving readers variety and context while offering participating locales a cost-effective, high-impact platform. These efforts enhance authenticity and make it easier for destinations to identify and communicate the unique experiences they offer. The key, as Liza notes, is partnering with platforms that “overdeliver,” know their audiences, and, most importantly, care. Resources: Website: https://styleblueprint.com/ LinkedIn Personal: https://www.linkedin.com/in/lizagraves/ LinkedIn Business: https://www.linkedin.com/company/blueprint-inc-local/ Subscribe to StyleBlueprint's daily emails: https://styleblueprint.com/ac-subscribe/ We value your thoughts and feedback and would love to hear from you. Leave us a review on your favorite streaming platform to let us know what you want to hear more o​f. Here is a quick tutorial on how to leave us a rating and review on iTunes!

In this conversation, Dylan Silver interviews Brenden Rendo, a seasoned real estate agent in Florida, who shares his journey from medical sales to real estate. They discuss the impact of the Great Recession on Florida's housing market, current trends, challenges in the condo market, and the economic factors affecting real estate and interest rates. Brenden provides insights into the future of Florida's real estate market and offers strategies for buyers and sellers navigating the current landscape.   Professional Real Estate Investors - How we can help you: Investor Fuel Mastermind:  Learn more about the Investor Fuel Mastermind, including 100% deal financing, massive discounts from vendors and sponsors you're already using, our world class community of over 150 members, and SO much more here: http://www.investorfuel.com/apply   Investor Machine Marketing Partnership:  Are you looking for consistent, high quality lead generation? Investor Machine is America's #1 lead generation service professional investors. Investor Machine provides true ‘white glove' support to help you build the perfect marketing plan, then we'll execute it for you…talking and working together on an ongoing basis to help you hit YOUR goals! Learn more here: http://www.investormachine.com   Coaching with Mike Hambright:  Interested in 1 on 1 coaching with Mike Hambright? Mike coaches entrepreneurs looking to level up, build coaching or service based businesses (Mike runs multiple 7 and 8 figure a year businesses), building a coaching program and more. Learn more here: https://investorfuel.com/coachingwithmike   Attend a Vacation/Mastermind Retreat with Mike Hambright: Interested in joining a “mini-mastermind” with Mike and his private clients on an upcoming “Retreat”, either at locations like Cabo San Lucas, Napa, Park City ski trip, Yellowstone, or even at Mike's East Texas “Big H Ranch”? Learn more here: http://www.investorfuel.com/retreat   Property Insurance: Join the largest and most investor friendly property insurance provider in 2 minutes. Free to join, and insure all your flips and rentals within minutes! There is NO easier insurance provider on the planet (turn insurance on or off in 1 minute without talking to anyone!), and there's no 15-30% agent mark up through this platform!  Register here: https://myinvestorinsurance.com/   New Real Estate Investors - How we can work together: Investor Fuel Club (Coaching and Deal Partner Community): Looking to kickstart your real estate investing career? Join our one of a kind Coaching Community, Investor Fuel Club, where you'll get trained by some of the best real estate investors in America, and partner with them on deals! You don't need $ for deals…we'll partner with you and hold your hand along the way! Learn More here: http://www.investorfuel.com/club   —--------------------

In the world of business, yet again, things looks grim. A brewing trade war, the uncharted fallout of artificial intelligence, and political upheaval around the world... All these factors have created an atmosphere of business uncertainty. Marketing jobs and budgets face the specter of the chopping block once again, and many are taking a "batten down the hatches" approach. But at a time like this, it's important to remember: when everyone else goes quiet, your voice carries that much further. And so in this episode, we're revisiting a pivotal conversation with Joe Pulizzi from the peak of the Covid lockdowns. When uncertainty was at its worst, he shared the story of how he raised the multi-million-dollar brand "Content Marketing Institute" from the ashes of an entrepreneurial venture that failed during the Great Recession. By "going big" on branded media when everyone else went home, that fledgling company changed marketing forever, rebranding the notion of "Content Marketing" and forging a media empire. Pulizzi would go on to launch the "Content Marketing World" conference, write three best-selling books and co-launch “This Old Marketing” the podcast. And his advice will come as a breath of fresh air for communications professionals who are uncertain about what comes after 2025. It certainly did for Dusty in 2020. As he reveals for the first time in this episode, he was close to despair about the future of Podcamp Media when he first had this conversation with Joe. But the interview forced Dusty to take a deep breath, double down on his podcast content marketing strategy, and dig in on making Podcamp Media succeed. And here we are today. Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome back to the Top Contractor School Podcast, where we equip elite contractors with the mindset, tools, and community to grow businesses that make a difference. In this episode, Eric Guy sits down with Dejah Anderson, COO of Anderson Striping and Construction, to explore her journey from answering phones during the Great Recession to leading operations for a multi-state business. Dejah shares what it's like growing up in a family-run company, leading with resilience, and forging a path as a woman in the construction industry. 

In this episode, I sit down with René Lacerte, founder and CEO of Bill. René shares his entrepreneurial journey from growing up in a fintech family to building one of the most successful SMB financial platforms. We dive into his failed pitch to Intuit that led to his first company, why he parted ways with PayCycle to start Bill, and how he navigated the company through the Great Recession while dealing with personal loss. René also discusses his decision to go public in 2019, the strategic acquisition of Divvy, and why he believes accountability drives performance. We explore how AI is transforming financial operations and his insights on building for the underserved SMB market.René Lacerte: https://www.linkedin.com/in/renelacerte/00:00:00 - There's Nothing Like Being a Public Company00:00:31 - René's Journey: From Fintech Family to Founder00:02:08 - What Was Your Mother Doing the Night You Were Born?00:03:16 - The Dinner Table MBA: Learning Business from Family00:05:22 - From Florida to Silicon Valley: Early Tech Roots00:07:18 - The Failed Intuit Pitch That Started Everything00:09:16 - PayCycle: From Nanny Payroll to Accounting Firms00:11:14 - Why René Left PayCycle to Start Bill00:14:20 - The Great Recession: Laying Off 40% of the Team00:18:36 - Why Solo Founders Make Faster Decisions00:22:16 - How to Reach SMBs: Go Where They Trust00:24:34 - The Scale That Unlocked Bill's IPO Journey00:27:05 - Why Accountability Drives Better Performance00:31:07 - The Problem with Dual Class Share Structures00:33:22 - The Divvy Acquisition: Getting 100% of Spend Data00:38:15 - Bill vs Competition: We Started with Financial Ops00:42:10 - How AI Will Create Fortune 500 Teams for SMBs00:44:36 - Building for SMBs: Passion and Hacking Solutions___Connect with Rex on social media:LinkedIn: https://www.linkedin.com/in/rexsalisbury/Twitter: https://twitter.com/rexsalisburyTikTok: https://www.tiktok.com/@rex.salisburyInstagram: https://www.instagram.com/rexsalisbury/

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At a time when debates over tariffs, regulation, and the scope of government are back at center stage. Is this time in American history unprecedented, or can we find parallels in the past? For example, has trade “hollowed out” U.S. manufacturing—or have fact tariffs like the Corn Laws in Britain hurt working-class families the most? Was the Great Depression a failure of capitalism—rather than a policy crisis worsened by poor monetary responses and overreach? Today’s guest is Phil Gramm, a former U.S. Senator and author of “The Triumph of Economic Freedom.” We look at five periods of American history—the Industrial Revolution, Progressive Era, Great Depression, decline of America’s postwar preeminence in world trade, and the Great Recession—along with the existing levels of income inequality and poverty, leads many to believe in expanding government in American life. Gramm argues that the evidence points to a contrary verdict: government interference and failed policies pose the most significant threat to economic freedom.See omnystudio.com/listener for privacy information.

When experts warn that the economy could be headed for a recession, people working across different corners of the economy get nervous. People working in healthcare, maybe less so. That's because of a longstanding idea that healthcare is impervious to recession. Okay, maybe that's overstating it. Healthcare is less susceptible than other industries. But did this notion hold up during the pandemic? During the Great Recession? More importantly, will it hold up now? This week on Radio Advisory, host Rachel (Rae) Woods invites Advisory Board Research Vice Presidents Shay Pratt and Vidal Seegobin to debate the question: Is healthcare really recession-proof? We are not economists, we are healthcare experts. So throughout the conversation, they reflect on how past dislocations affected the healthcare industry, and what leaders can—and can't—learn from these events to help them interpret the current turbulence. Plus, stay tuned to the end of the episode for a policy update on the ripple effects of Secretary Kennedy's recent shakeup of the CDC's vaccine advisory committee. We're here to help: Listen: Ep. 244: What's happened in Washington (so far) and what policy changes we're bracing for Read: Healthcare policy updates Read: How the Great Recession impacted inpatient utilization Read: Could a recession be good for healthcare? Some economists think so. Additional resources related to the Advisory Committee on Immunization practices: Meet the new members of CDC's vaccine advisory panel Understanding the ACIP and How Vaccine Recommendations are Made in the US 4 ways to improve site-of-care transitions for sickle cell patients How VCU built an 'inescapable' Adult Sickle Cell Medical Home to improve inpatient to outpatient transitions of care 4 keys to success in the New England Sickle Cell Institute's outpatient program for adult sickle cell patients Health policy playlist Modeling Reemergence of Vaccine-Eliminated Infectious Diseases Under Declining Vaccination in the US | Infectious Diseases | JAMA | JAMA Network A transcript of this episode as well as more information and resources can be found on RadioAdvisory.advisory.com.

In this episode, Micah Lacher, Principal of Anchor Investments and Mission Hotels, shares his mission to build America's most generous real estate company through the power of hospitality. The discussion covers Micah's journey from starting Anchor Investments during the Great Recession to his innovative approach to hospitality and real estate. We get into the importance of generosity in business, the challenges and rewards of converting historic buildings into hotels, and the impact of providing hospitality to both paying guests and those in need. This episode offers valuable insights for hospitality leaders, operators, and investors looking to integrate purpose and generosity into their business models. A few more resources: If you're new to Hospitality Daily, start here. You can send me a message here with questions, comments, or guest suggestions If you want to get my summary and actionable insights from each episode delivered to your inbox each day, subscribe here for free. Follow Hospitality Daily and join the conversation on YouTube, LinkedIn, and Instagram. If you want to advertise on Hospitality Daily, here are the ways we can work together. If you found this episode interesting or helpful, send it to someone on your team so you can turn the ideas into action and benefit your business and the people you serve! Music for this show is produced by Clay Bassford of Bespoke Sound: Music Identity Design for Hospitality Brands

At 16, Shellye Archambeau already knew she wanted to be a CEO. And early in her career at IBM, after closing a massive deal with RiteAid, it felt like she was well on her way. But then, at the last minute, the deal fell through. Shellye felt utterly defeated - until a conversation with her husband helped her realize that there had been a failure … but that didn't mean she was a failure. Shellye went on to have a thriving career at IBM and beyond, with the lessons learned from that early setback helping her overcome all the challenges she faced along the way. By the time Shellye became CEO of the software company Metricstream, she felt like she was ready to handle anything. But then the Great Recession of 2008 hit. Just like that, business dried up. Suddenly, Shellye was faced with one of the most difficult decisions of her career. Would they fold? Or would they fight? In this episode, Shellye joins Brenda to talk about the importance of demonstrating resilience as a leader when times get tough, why a great team is everything, and how you can turn your lowest career moments into a productive story to share in your next job interview.  For more, check out Shellye and her work... On LinkedIn - /shellye-archambeau On Instagram - @shelarchambeau On X - @ShelArchambeau On the Web - shellye.com And check out Shelley's latest book, Unapologetically Ambitious --- At  AnitaB.org  we  challenge  the  systems  and  misconceptions  that  limit  human potential. What  sets  us  apart  is  our  unwavering  commitment  to  disrupting  the status  quo  while  honoring  the  full  humanity  of  every  individual.  We  cultivate spaces where people can be vulnerable, seen, and supported without judgement. Because progress starts with truth, empathy, and the courage to build something better for all. --- Connect with AnitaB.org Instagram - @anitab_org Facebook - /anitab.0rg LinkedIn - /anitab-org On the web - anitab.org  --- Our guests contribute to this podcast in their personal capacity. The views expressed in this interview are their own and do not necessarily represent the views of Anita Borg Institute for Women and Technology or its employees (“AnitaB.org”). AnitaB.org is not responsible for and does not verify the accuracy of the information provided in the podcast series. The primary purpose of this podcast is to educate and inform. This podcast series does not constitute legal or other professional advice or services. --- B The Way Forward Is… Hosted and Executive Produced by Brenda Darden Wilkerson. Produced by Avi Glijansky Associate Produced by Kelli Kyle Sound design and editing by Ryan Hammond  Mixing and mastering by Julian Kwasneski  Additional Producing help from Faith Krogulecki Operations Coordination for AnitaB.org by Quinton Sprull. Creative Director for AnitaB.org is Deandra Coleman Executive Produced by Dominique Ferrari, Stacey Book, and Avi Glijansky for Frequency Machine  Photo of Brenda Darden Wilkerson by Mandisa Media ProductionsFor more ways to be the way forward, visit AnitaB.org

Joseph Gradante | CEO of Allio Capital Joseph Gradante is the Co-Founder and CEO of Allio Capital, bringing 15+ years of experience as a global macro strategist and money manager. From Wall Street during the Great Recession to launching Allio, Joseph combines traditional finance with modern innovation to help investors navigate today's volatile markets. In this episode, we explore how elections, policy, and geopolitics shape the economy—and how Allio equips investors to manage risk in an era of fiscal turbulence. Joseph also hosts Orwellian Optics, where he shares sharp, independent takes on how government decisions affect your financial future. We have a new show on Lions of Liberty! The Politicks Podcast! Be sure to subscribe to the standalone Politicks Podcast feed. This is the absolute best way to support the show! Listen and subscribe on Apple Podcasts and Spotify. And remember, they're all Blood Suckers! Subscribe to John's Finding Freedom Show solo feed to listen to “Pursuit of Freedom,” which is a new podcast series where John shares the highs and lows of his entrepreneurial journey. Listen and Subscribe on Apple Podcasts and Spotify. Follow the Lions of Liberty: Twitter Rumble YouTube Instagram Telegram Get access to all of our bonus audio content, livestreams, behind-the-scenes segments and more for as little as $5 per month by joining the Lions of Liberty Pride on Patreon OR support us on Locals! Check out our merchandise at the Lions of Liberty Store for all of our awesome t-shirts, mugs and hats! Learn more about your ad choices. Visit megaphone.fm/adchoices

Joseph Gradante | CEO of Allio Capital Joseph Gradante is the Co-Founder and CEO of Allio Capital, bringing 15+ years of experience as a global macro strategist and money manager. From Wall Street during the Great Recession to launching Allio, Joseph combines traditional finance with modern innovation to help investors navigate today's volatile markets. In this episode, we explore how elections, policy, and geopolitics shape the economy—and how Allio equips investors to manage risk in an era of fiscal turbulence. Joseph also hosts Orwellian Optics, where he shares sharp, independent takes on how government decisions affect your financial future. We have a new show on Lions of Liberty! The Politicks Podcast! Be sure to subscribe to the standalone Politicks Podcast feed. This is the absolute best way to support the show! Listen and subscribe on Apple Podcasts and Spotify. And remember, they're all Blood Suckers! Subscribe to John's Finding Freedom Show solo feed to listen to “Pursuit of Freedom,” which is a new podcast series where John shares the highs and lows of his entrepreneurial journey. Listen and Subscribe on Apple Podcasts and Spotify. Follow the Lions of Liberty: Twitter Rumble YouTube Instagram Telegram Get access to all of our bonus audio content, livestreams, behind-the-scenes segments and more for as little as $5 per month by joining the Lions of Liberty Pride on Patreon OR support us on Locals! Check out our merchandise at the Lions of Liberty Store for all of our awesome t-shirts, mugs and hats! Learn more about your ad choices. Visit megaphone.fm/adchoices

In this powerful episode, we sit down with Chris Prefontaine, the founder of Smart Real Estate Coach, to uncover his remarkable journey from financial collapse during the Great Recession to building a multi-million dollar real estate education company—all without relying on banks or traditional financing. After navigating loan modifications, short sales, and personal financial devastation, […]

Join us for an insightful episode of the Las Vegas Advisor interview series featuring Jonathan Jossel, the visionary CEO of the Plaza Hotel and Casino. Jonathan shares his journey from South Africa to Las Vegas, navigating through the Great Recession, and becoming one of the youngest licensees in Nevada at 29. We delve into the Plaza's unique strategies like looser games, single zero roulette, and innovative promotions. Jonathan also discusses the challenges and successes of the Las Vegas casino industry, including the impact of influencers, the importance of customer satisfaction, and the future plans for the Plaza. Don't miss out on this engaging conversation packed with industry insights and behind-the-scenes stories!

In this engaging conversation, Dylan Silver interviews James Hale, a seasoned real estate investor from Texas. James shares his journey into real estate, starting from his early experiences during the Great Recession to his current focus on oil and gas investments. He discusses various strategies he employed, including hard money lending, rental properties, and the impact of COVID-19 on the market. Throughout the discussion, James emphasizes the importance of networking, adaptability, and caution in investment decisions, providing valuable insights for aspiring investors.   Professional Real Estate Investors - How we can help you: Investor Fuel Mastermind:  Learn more about the Investor Fuel Mastermind, including 100% deal financing, massive discounts from vendors and sponsors you're already using, our world class community of over 150 members, and SO much more here: http://www.investorfuel.com/apply   Investor Machine Marketing Partnership:  Are you looking for consistent, high quality lead generation? Investor Machine is America's #1 lead generation service professional investors. Investor Machine provides true ‘white glove' support to help you build the perfect marketing plan, then we'll execute it for you…talking and working together on an ongoing basis to help you hit YOUR goals! Learn more here: http://www.investormachine.com   Coaching with Mike Hambright:  Interested in 1 on 1 coaching with Mike Hambright? Mike coaches entrepreneurs looking to level up, build coaching or service based businesses (Mike runs multiple 7 and 8 figure a year businesses), building a coaching program and more. Learn more here: https://investorfuel.com/coachingwithmike   Attend a Vacation/Mastermind Retreat with Mike Hambright: Interested in joining a “mini-mastermind” with Mike and his private clients on an upcoming “Retreat”, either at locations like Cabo San Lucas, Napa, Park City ski trip, Yellowstone, or even at Mike's East Texas “Big H Ranch”? Learn more here: http://www.investorfuel.com/retreat   Property Insurance: Join the largest and most investor friendly property insurance provider in 2 minutes. Free to join, and insure all your flips and rentals within minutes! There is NO easier insurance provider on the planet (turn insurance on or off in 1 minute without talking to anyone!), and there's no 15-30% agent mark up through this platform!  Register here: https://myinvestorinsurance.com/   New Real Estate Investors - How we can work together: Investor Fuel Club (Coaching and Deal Partner Community): Looking to kickstart your real estate investing career? Join our one of a kind Coaching Community, Investor Fuel Club, where you'll get trained by some of the best real estate investors in America, and partner with them on deals! You don't need $ for deals…we'll partner with you and hold your hand along the way! Learn More here: http://www.investorfuel.com/club   —--------------------

Since the dawn of the Industrial Revolution, capitalism has unleashed unimaginable growth in opportunity and prosperity. And yet, at key points in American history, economic disruption has led to a greater role for government, ostensibly to protect against capitalism's excesses. Today, government regulates, mandates, subsidizes and controls a growing share of the American economy. Today on the show, retired U.S. Senator Phil Gramm, one of America's premier public policy advocates, and noted economist Donald J. Boudreaux look at the seven events and issues in American history that define, for most Americans, the role of government and how the 21st century world works. To many, these 5 periods of American history—the Industrial Revolution, Progressive Era, Great Depression, decline of America's postwar preeminence in world trade, and the Great Recession—along with the existing levels of income inequality and poverty, represent strong evidence for expanding government in American life. Gramm and Boudreaux argue that the evidence might point to a contrary verdict. Phil Gramm served six years in the U.S. House of Representatives and eighteen years in the U.S. Senate where he was Chairman of the Banking Committee. Gramm is a Visiting Scholar at the American Enterprise Institute. He was Vice Chairman of UBS Investment Bank and is now Vice Chairman of Lone Star Funds. He taught Economics at Texas A&M University and has published numerous articles and books. Donald J. Boudreaux is an American economist, author, professor, and co-director of the Program on the American Economy and Globalization at the Mercatus Center at George Mason University in Fairfax, Virginia. His writings have appeared in The New York Times, Wall Street Journal, Investor's Business Daily, The Washington Times, and many scholarly publications. Their new book is The Triumph of Economic Freedom: Debunking the Seven Great Myths of American Capitalism.

Conventional wisdom is brimming with economic myths: the Industrial Revolution impoverished the masses; bobber barons were the scourge of the Gilded Age; the Great Recession was caused by irresponsible deregulation. Senator Phil Gramm and economist Don Boudreaux attempt to set the record straight in their new book, “The Triumph of Economic Freedom: Debunking the Seven Great Myths of American Capitalism.”