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In this episode Put my money where my mouth is – you'll learn that you'd better say what you mean and mean what you say or those around you will call you out! In episode 38 New Goals for 2022 I mentioned Quit Telling yourself you don't have enough time, to get up early if you have too and go to bed early & find your mojo. Two weeks ago Kurt came up to me and said, I listened to your podcast where your advice was to get up early and go to bed early, and he said why aren't you doing that? And I said, “well I got up early on Monday and I completed the bulk of the heavy tasks I needed to complete all before 8am! – Like that was going to impress him. Well, it didn't. Because the rest of the week, I didn't get up early. He said, so what happened to the rest of the week? This made me stop and think. The root cause in my head was I didn't have anything to focus on that would drive me out of my warm bed. Then he said, instead of going to the gym 3 days a week, why don't you go 5 times a week, that will force you out of bed. I said, “ok”. So last week I did go to the gym 5 days a week. However, in my head this issue is still not resolved. I do wake up early now meaning I don't fall back to sleep when Kurt leaves in the morning, but I still don't have a great routine nailed down. I also think that my routines got a little out of whack when life events happened and I'm not making excuses here but there's been a lot of change and new distractions in my life over the past several months and I think, I just lost my focus and I needed a reset. I think by having Kurt hold me accountable, brought this issue to light and now I can regain my focus and get back on track. Thank you, Kurt!! Then a couple of days ago I was listening to Shawn Yesner's Crushing Debt Podcast Episode 305 Always Sharpen Your Saw he mentioned that he too get's up early in the morning when there are no distractions and reads for 30-45 minutes to start his day. This routine lead him to read 52 books last year. That's 1 book a week! What a great accomplishment! That just inspired me even more to get up early! Here's the take away for me. I like to read in the mornings too, right before I head into the gym. But now instead of listening to Nickleback every day when I'm on what I call the eucalyptus (elliptical) machine I'm now listening to my favorite podcasts. I'm a serial learner to so I think I'm going to love this change! Thank you Kurt and Shawn for the inspiration. Ok, this next call out stung like a bumble bee. This one hurt but I loved it at the same time! I'm fortunate enough to be an Inner Circle member of a Real Estate mentoring team hosted by Tyler and Jill Sheff – you know the Cash Flow Guy or now known for teaming up with Michael Marino and putting together Key West Cashflow opportunities. This is a quaint small group, we've been together now for 2 years and we watch how everyone on the team, over time has grown and prospered in their in their business or real estate adventure. We have one note investor, 2 small business owners, Michael and Tyler are focused on multifamily/short term rental opportunities in Key West and I'm focused on owning or developing an RV park. No matter what everyone is focused on, each one of us learn from the other members every week. All of our sessions are recorded so that we can go back and review the content. Each one of us is encourgaged to help the others out when the content is relevant. We also post our topics of discussion prior to our meeting time so that Tyler and Jill can be prepared for what we want to discuss. It was my turn to have the floor and this I was giving the status of an RV park development project that I've been working on and we were discussing the marketing I was doing. Quite frankly, I told the team I wasn't getting the result I needed in my marketing. My marketing quite frankly wasn't aligning with my true desire to own or develop RV park. Tyler even spoke up and said, you're marketing is boring. I agreed 100% and put the kabosh on my marketing efforts. That's not to say, that my marketing won't come back in another form, I'm just switching gears. Then, Michael unmuted himself and ever so stoickly with no emotion said, Mechiel, I'm curious if you're really into RV Parks, why aren't you going to RV parks? He went on to say, I think of you like a gypsy because aren't you living in your RV right now? I'm not sure what my facial expression was at that moment,(but I intend on reviewing that recording) but I can tell you my heart stopped. I said to myself, he just called me out and he's right! I let him finish my perceived digging at me and my response was well you're right I can easily be a gypsy but I'm no longer an I and I have to consider that I'm a we but to your point, I will see what I can do and I'll talk with Kurt tonight. Michael went on to say, your houses are a both on short term rental so why not go stay at an RV park? Perhaps you'll find an owner that wants to sell or at least you'll learn more about what RV'ers want in an RV park. Why the heck didn't I think of this, is all I could think! This was such an easy solution and it was right in front of me. How did I miss that??? The next day, I got to thinking about what Michael did without him even knowing what he had done. I said to myself, I'm going to reach out to him and let him know, how grateful I was for him to speak up and call me out. As expected, he had no idea what he done, but I thanked him for pushing me and calling me out! Within the next few weeks, after a few things calm down and we can “get” a reservation at a local park, we are out of here! My goal is to do what I do best – go talk or interview folks on what they like about RV parks and what they dislike and I'll be talking with the park owners too, much like I did this summer in Iowa when I met Marta at Timberline Campground in Waukee. By the end of the summer, I'm sure she was tired of me but I learned a lot from her. So I'm off to research and find a park to visit! I'll see you next Thursday on the Fearless Innovator Podcast. Key West Cash Flow - Key West Cash Flow Tyler Sheff and Michael Marino Crushing Debt Podcast - Episode 305 - Always Sharpen the Saw Timberline Campground - Timberline Campground | RV Park
As a special bonus episode, we decided to explore how travelers turn their business trips into vacations, or "workations." We were privileged to be the opening Key Note Speakers at Podfest Multimedia Expo in Orlando--mecca for both conventions AND vacations. So, while we were there, we decided to ask some of our fellow podcasters about how they were turning THEIR Podfest business trips into a workation--visiting Disney and other surrounding attractions with family and friends along. And, we turned Podfest into a workation of our very own by grabbing a few listeners and checking out the view from 400ft in the air on the ICON Orlando--the tallest observation wheel on the United States east coast! Listen in... Special BONUS Episode 17: Tour Guide: Jaime "Jemmy" Legagneur, Co-Host and Chief Enthusiasm officer: Jaime@FloridaPodcastNetwork.com Tour Guide: Glenn the Geek, Co-Host and Chief Fun Officer: Glenn@FloridaPodcastNetwork.com Link to Sound File for Sight Impaired: Click Here Pic Credit: Finding Florida Podcast Guest: Lou Mongello, Host of WDW Radio Guest: Stefanie Lahart, Social Media for Podfest Multimedia Expo Guests: Tyler and Jill Sheff of the Cash Flow Guys Podcast Guests: Izzy Jerome and her dad, James, of Reporting Live Podcast Guest: Elizabeth Repass Hollida, Communications Webmaster for the City of Lakeland Guests: Gabe, Tyler, Jill, Mark, Ollie, and Kevin at the ICON Orlando 360 Additional Support Provided by: Flint Stone Media For full show notes and links, head to: http://findingfloridapodcast.com/episodes/episode-17-turning-business-trips-into-workations/ Partner with FPN: Become the Voice of YOUR Town!! From sponsoring episode segments through creating and growing your own branded show, we have the solution to promote you while we promote Florida! Our Adventure Agenda for BONUS Episode 17: Talking to fellow podcasters about turning their business trips into workations at Podfest Multimedia Expo Checking out the view from 400ft in the air on the ICON Orlando 360 Check out what's coming up on our Next Adventure! Want to join us at one of our stops? Email glenn@floridapodcastnetwork.com. Have a suggestion? Join us in the FPN Insiders group on Facebookand let us know! FPN: Check out the other shows on the Florida Podcast Network
Finding Florida Podcast Has Adventures from Country to Coast
As a special bonus episode, we decided to explore how travelers turn their business trips into vacations, or "workations." We were privileged to be the opening Key Note Speakers at Podfest Multimedia Expo in Orlando--mecca for both conventions AND vacations. So, while we were there, we decided to ask some of our fellow podcasters about how they were turning THEIR Podfest business trips into a workation--visiting Disney and other surrounding attractions with family and friends along. And, we turned Podfest into a workation of our very own by grabbing a few listeners and checking out the view from 400ft in the air on the ICON Orlando--the tallest observation wheel on the United States east coast! Listen in... Special BONUS Episode 17: Tour Guide: Jaime "Jemmy" Legagneur, Co-Host and Chief Enthusiasm officer: Jaime@FloridaPodcastNetwork.com Tour Guide: Glenn the Geek, Co-Host and Chief Fun Officer: Glenn@FloridaPodcastNetwork.com Link to Sound File for Sight Impaired: Click Here Pic Credit: Finding Florida Podcast Guest: Lou Mongello, Host of WDW Radio Guest: Stefanie Lahart, Social Media for Podfest Multimedia Expo Guests: Tyler and Jill Sheff of the Cash Flow Guys Podcast Guests: Izzy Jerome and her dad, James, of Reporting Live Podcast Guest: Elizabeth Repass Hollida, Communications Webmaster for the City of Lakeland Guests: Gabe, Tyler, Jill, Mark, Ollie, and Kevin at the ICON Orlando 360 Additional Support Provided by: Flint Stone Media For full show notes and links, head to: http://findingfloridapodcast.com/episodes/episode-17-turning-business-trips-into-workations/ Partner with FPN: Become the Voice of YOUR Town!! From sponsoring episode segments through creating and growing your own branded show, we have the solution to promote you while we promote Florida! Our Adventure Agenda for BONUS Episode 17: Talking to fellow podcasters about turning their business trips into workations at Podfest Multimedia Expo Checking out the view from 400ft in the air on the ICON Orlando 360 Check out what's coming up on our Next Adventure! Want to join us at one of our stops? Email glenn@floridapodcastnetwork.com. Have a suggestion? Join us in the FPN Insiders group on Facebook and let us know! FPN: Check out the other shows on the Florida Podcast Network
This episode is dedicated to women who are interested in real estate investing. Tyler turns over this episode to partner and wife, Jill, but first, Tyler introduces Deborah Razo. Deborah Razo is from California. She has a degree Entrepreneurial Management from UCLA’s Anderson School of Management. In 2011, she began her investing education with intensive workshops with Robert Kiyosaki, the Rich Dad Advisors, and the Real Estate Radio Guys. Jill brought Deborah on this episode to talk about WREN, the Women’s Real Estate Network. As the founder of WREN, Deborah’s objective was to create a community of women who are involved in real estate investing that can empower each other, share resources, experiences, and tools used to help each grow personally and professionally. All while having fun as women. Jill and Deborah touch of several aspects of challenges that women may face when investing in real estate and how WREN inspires and helps women to overcome those challenges. WREN will host networking and skill development events, and is looking for experienced women to mentor the less experienced and add value by helping and supporting one another both personally and professionally. Deborah and Jill talk about that WREN began in Burbank, CA and is now expanding to add chapters in Seattle, WA, the Tampa Bay area of FL Florida, and Tennessee. WREN will be hosting “Ignite your Fire Within” on October 23, 2016, in Burbank, CA at the Vanity Salon. The event will be from 1:00pm to 5:00pm. The location address is 2010 W.Burbank Blvd. Burbank, CA 91506. This event is open to all women. An absolutely rockstar panel of women will be speaking on subjects including; passive income, flipping, commercial real estate, self storage and investing using syndication and crowd funding. The panel includes: Gena Lofton, Iris Veneration, Jillian Sadoti, Elizabeth Braman, and Alia Scott. To reach Deborah Razo you can email Deborah at drazo@wreninspires.com find her on WRENInspires.com, or look for WREN - Women's Real Estate Network on Facebook and Meetup.com. Deborah cell number is 818-843-7772. To reach Jill Sheff of the Cash Flow Guys, email Jill at Jill@CashFlowGuys.com or by cell, 727-560-0223.
Mindset shift.....Your tenants are your customers. In this episode, Tyler Sheff discusses several topics related to being a good landlord while still maintaining profits. When you have convinced yourself that it IS your responsibility to provide clean, safe, affordable housing, you will find out that your chances of success will be far greater. Mindset is a big part of our success at CashFlowGuys.com. Tyler Sheff and Jill Sheff spend a great deal of time learning and continuing to self improve. When working with their coaching students, mindset and the psychology of learning how to work with people is a big part of what they teach. If you are in a place where you are ready to take your investing career to the next level, then book a coaching consultation with Tyler by visiting CashFlowGuys.com/Coach During that free one hour consultation, Tyler will provide you an in depth look at the strategies he uses and will teach you to help you achieve your investing goals in the shortest amount of time possible.
This episode is dedicated to Tyler’s favorite thing. Taking Action! Tyler Sheff and Jill Sheff talk about how to take action to get started investing in real estate now. Tyler has a favorite phrase that his mentor only had to mention once and it stuck; “Now o’clock”. Tyler and Jill discuss the different elements necessary to begin the journey. They believe you should start with the following: I = Investor Identity is a necessary step to establish what it is you want to invest in whether it be buy and hold, or another type of investing. M = Marketplace is a necessary step to establish where you want to invest or where it makes sense to invest based on the strategy of your investor identity. T = Team is a critical step to establish in order for it all to work. Tyler mentions that having a team gives him confidence and security because he can reach out to his team with any issues, questions, or concerns that may come up. D = Deal. It is the most interchangeable part. Deal are not found, they are made. Once you have all of the elements in place start attending networking events and “Guru” seminars. Tyler warns that you don’t need to buy anything at these seminars, but if you learn just one thing then it is worth going to the free Guru seminar. Free seminars are also great places to network with like minded people. Jill mentions if an accountability partner is something you are looking for, you may be able to find someone there. Tyler invites any of the CashFlow Guys listeners to come to one of Tyler’s and Jill’s CashFlow game workshops. If you can’t make to their workshops or games, go on to Meetup.com and search for a CashFlow game in your area. Jill also mentions that you could buy a game and begin hosting your own games. Tyler reminds CashFlow listeners they should have already established their “why” and what type of returns they want from investing. Jill and Tyler discuss that going to see properties is a much better way to determine if an offer should be made. Once the decision is made you must take immediate action to write an offer. Tyler gives some great resources to be able to find an absentee owner of the property and different types of offers that can be written. Tyler offers to share examples of offers and templates he uses. Requests can be sent to info@cashflowguys.com with “LOI” in the subject line. Tyler mentions to add Insured Title to your team, when you call them ask for Kevin Overstreet. Insured Title Agency is able to answer any title or deed related question and can handle your closings almost anywhere in the country. Another skill is discussed. Be a P.I.G. A Professional Information Gatherer. Ask as many questions as you can or need to ask. It is critical to find out why someone is selling or the problem or pain that someone might be having, that makes them feel it is necessary to sell. This is how you can create an offer that solves the problem, and is a win win. Next, submit the offer. The worst that can happen is someone might say, “No”. If you get a “No”, ask more questions until you can make an offer that makes sense. Once the offer is accepted, now it is time (if necessary) to find the money. Finding money is the easy part if you have a deal that makes sense. Jill and Tyler talk about that many people get caught up in analysis paralysis. A quick way to know if a rental property is priced to make the cashflow Tyler and Jill are looking for in a property, is divide the total rent by 1.5%. This saves them time and does not allow them to get caught up in analyzing a property that does not meet their criteria. The last bits of advice from Tyler and Jill in this episode are to take action, massive action! Get an accountability partner, change your mind set, position yourself for change. Jill speaks to two books that inspired and still inspire her everyday. They are Who Moved My Cheese, written by Spencer Johnson and The One Thing written by Gary Keller. If you have ever considered getting involved in real estate investing, book a free consultation with Tyler to learn more about how to escape the rat race. You may also contact us via email at: info@cashflowguys.com
017 Fear | What is Holding You Back and How To Get Over the Fear Fear can be a crippling, all consuming emotion. Tyler Sheff and Jill Sheff talk about how to find a support system, someone to talk to, about your fears and discuss with them that you need someone for emotional support in your journey. They discuss several types of fear in this podcast and how to overcome the fear and start investing now. There are many fears that new investors have, or people who want to become investors and never do because of fear. One fear is the fear of not being able to retire Jill mentions to begin with the end in mind. If you want to be able to retire, begin by determining what retirement means to you. Questions new investors should ask themselves are; What do you want to invest in to build wealth? Will your portfolio outpace inflation? How much will you need for retirement? Do you need a monthly income? When do you want to retire? One way to achieve this is by mitigating your taxes. The government wrote the tax code to teach you how to avoid or reduce taxation by investing in what the government wants you to invest in. For example, oil, gas, and real estate. Additionally, if you provide housing and/or jobs, the government will reduce your tax liability. Tax Free Wealth and What Your CPA Isn’t Telling You, are books to help learn these concepts. You could invest for cash flow or capital gains. If you invest for cash flow now, by purchasing a single family home, your tenants will pay the mortgage and also produce cash flow of hundreds if not thousands of dollars, every month. When you are ready to retire the home will be paid off and your cash flow will increase by the amount that was being paid for the mortgage. I.e., If the mortgage payment is $500.00 a month, at retirement you will receive $600.00 to $800.00 every month in passive income. This only takes a couple of houses or one house a year. Equity Happens and Building One House at a Time are great books covering this principle. Fear of not being able to provide or help provide for aging parent(s) Tyler and Jill have friends and family that fear not being able to help their parent(s) pay for their medical bills, medications, house payments, grocery bills, as well as, not being able to afford a caregiver if the need arises. Fear of job loss Jill was recently laid-off and although we have enough cash flow or passive income that neither Tyler or Jill need a J.O.B. they like the income and the medical benefits that come from having J.O.B. Once Tyler and Jill sat down and determined they could actually save on taxes by Jill not having a W-2 job, they decided to concentrate on investing in real estate full time. Investing in real estate is not a get rich quick scheme. Tyler mentions, he thinks it is a recipe for disaster to plan to fix and flip to have enough money to then buy and hold. Jill and Tyler both mention a couple of ways that fixing and flipping investing can be risky. Tyler also mentions that fixing and flipping is taxed as one of the highest allowable tax brackets. Jill mentions the tax savings associated with the buy and hold strategy. Emotional Fears Some of these fears are public speaking, introversion, looking stupid, fear of being told, no or objection. Overcoming objection is critical. Practice overcoming objections, speaking in public, and being told no, are a few ways to overcome the fear. There is no perfect response for every objection. Fail forward, fail fast, and fail frequently. The more you do the easier it will become. Tyler also mentions the person you are dealing with, may have just as much fear as you. They usually do not want to negotiate. They commonly fear negotiating just like you might. Be ok with hearing, no. Don’t take it personally. Eventually there will be a yes. Remember, all deals should be win win or no deal. If you are not comfortable with negotiating or how to do the math for the purpose of negotiating then maybe a real estate syndicator is someone to seek out. A real estate syndicator’s purpose is to negotiate. Or call Tyler, and he will walk you through a deal, help you to be able to overcome objections, or answer any questions you have. Jill mentions the fear of telling the world your plan for entrepreneurship. Her advice is to do just that. Telling the world helps to overcome that fear and don’t worry about the naysayers. Toastmasters is a good way to overcome the fear of public speaking. Tyler and Jill discuss beginning now, do it now and do not delay. They give several ways to find a mentor and/or someone else like minded to talk to about fear. Role playing can also help with the fear of objections. Lastly, the fear of getting started investing in real estate will stop people from ever getting started. Tyler’s advice is to get educated and to constantly seek more education. Tyler and Jill have three educators that are priced fairly and whose methods really work!! If you have ever considered getting involved in real estate investing, book a free consultation with Tyler to learn more about how to escape the rat race. You may also contact us via email at: info@cashflowguys.com /