Podcasts about W2

He was working 80 hours every two weeks in a hospital ICU.Open heart surgery patients. Life or death. No room for error.And in the gaps between shifts, sometimes still in his scrubs, he was quietly building a short term rental business that would set him free.In this episode, E sits down with Jeremy Rosen for one of the most honest W2-escape stories this show has ever told.Jeremy joined STR Secrets with 4 properties and a full-time nursing job he loved but knew he had to leave. He went from 4 to 8 to 12 to 20 properties, all while clocking 12-hour shifts at the VA. Then he merged his company into Five Star Vacation Rentals, now running 67 properties across Central Texas, and finally walked away from nursing for good.In this episode: → The exact mindset shift that took Jeremy from sick patients to happy guests, and the nurse's instinct that makes him a better host than most operators will ever be→ How he used his days off, while everyone else scrolled, to prospect, sell, and grow→ The "who not how" decision that broke him out of doing everything himself, and the one hire that changed his entire business→ Why he refused to build in secret, and how speaking his goals out loud actually made them happen→ The honest truth about quitting your W2 that almost nobody talks about, including the strange struggle of suddenly owning all of your own time→ Why "everything is figure out able" is the only belief you need to finally make the leapIf you have a good job you're scared to leave, this is the episode you need to hear.Free 6-step course to start your day right: level.strsecrets.com/pc-bookJoin the community: STR Secrets Facebook Group

He was working 80 hours every two weeks in a hospital ICU.Open heart surgery patients. Life or death. No room for error.And in the gaps between shifts, sometimes still in his scrubs, he was quietly building a short-term rental business that would set him free.In this episode, E sits down with Jeremy Rosen for one of the most honest W2-escape stories this show has ever told.Jeremy joined STR Secrets with 4 properties and a full-time nursing job he loved but knew he had to leave. He went from 4 to 8 to 12 to 20 properties, all while clocking 12-hour shifts at the VA. Then he merged his own company into Five Star Vacation Home Rentals, where he now owns the San Antonio division, part of a portfolio of 70 properties across Central Texas. And he finally walked away from nursing for good.Today, based in San Antonio, Texas, Jeremy focuses on revenue optimization, guest experience, property operations, and scaling high performing vacation rental portfolios.In this episode:→ The exact mindset shift that took Jeremy from sick patients to happy guests, and the nurse's instinct that makes him a better host than most operators will ever be→ How he used his days off, while everyone else scrolled, to prospect, sell, and grow→ The "who not how" decision that broke him out of doing everything himself, and the one hire that changed his entire business→ Why he refused to build in secret, and how speaking his goals out loud actually made them happen→ The honest truth about quitting your W2 that almost nobody talks about, including the strange struggle of suddenly owning all of your own time→ Why "everything is figureoutable" is the only belief you need to finally make the leapIf you have a good job you're scared to leave, this is the episode you need to hear.Connect with Jeremy:Instagram and Facebook: @fivestarvhrEmail: jeremy@fivestarvacationhomerentals.comWebsite: fivestarvhr.comFree 6-step course to start your day right: level.strsecrets.com/pc-bookJoin the community: STR Secrets Facebook Group

t of real estate investors hear about tax savings from real estate but never fully understand how those strategies actually work. In this episode, CPA and tax strategist Thomas Castelli explains the difference between passive rental losses and tax strategies that can reduce W2 or business income. He shares why short-term rentals have become a powerful tool for high-income earners and how syndicators can structure deals more efficiently from a tax perspective. Thomas also explains why many investors wait too long before speaking with a real estate-focused CPA and why AI will change accounting firms over the next few years. Key Topics Discussed Why rental real estate is passive by default How short-term rentals are treated differently under the tax code What qualifies someone for real estate professional status Why carried interest can lower taxes for syndicators Common tax mistakes in operating agreements and PPMs How AI may automate bookkeeping and tax prep work Guest Information Thomas Castelli Website: The Real Estate CPA Email: thomas.costelli@HallCPALLC.com Call To Action To connect with Thomas or book a free consultation, visit The Real Estate CPA Consultation Page

Michael Smith—Managing Partner and Founder, Emerald Advisors Michael Smith shares how a client-first philosophy, niche specialization, and independence helped Emerald Advisors grow from $385mm to more than $1B in assets. In Summary What happens when an advisor builds a business around client service rather than operational efficiency? Jason Diamond speaks with Michael Smith, Founder and Managing Partner of Emerald Advisors, about the path from a successful Merrill practice to an independent RIA that has grown from approximately $385mm to more than $1B in assets. Along the way, Michael shares the story of being told he was “overservicing” clients, why that moment became a catalyst for independence, and how a highly specialized service model fueled the firm's growth. Drawing on lessons from a 24-year Navy career, Michael offers a perspective on leadership, specialization, client care, and what it takes to build a durable business in today's wealth management landscape. The Storyline Growth is often viewed as the result of marketing, referrals, acquisitions, or scale. Michael Smith sees it differently. After building a successful practice at Merrill, Michael found himself at odds with the constraints of the traditional wirehouse model. What ultimately stood out wasn't compensation, technology, or platform capabilities. It was a philosophical difference around client service. When he was told he was spending too much time helping clients navigate tax planning, equity compensation, and other financial decisions outside the traditional scope of investment management, he began to question whether the model aligned with the way he wanted to serve families. That realization eventually led him to launch Emerald Advisors in late 2019. The firm started with roughly 85 clients and approximately $385mm in assets. Today, Emerald serves more than 225 families and oversees more than $1B in assets. Throughout the conversation, Michael reflects on the lessons learned from building an independent firm, developing a niche around concentrated stock positions and executive compensation, navigating custodial and technology decisions, and creating a culture rooted in accountability and service. Underlying it all is a simple belief: when firms become highly intentional about who they serve and how they serve them, growth often becomes the outcome rather than the objective. Topics Covered Merrill breakaways and independence Client service as a growth driver Building an RIA RIA growth and scalability Organic growth strategies Concentrated stock positions and equity compensation planning Ideal client personas and niche specialization Schwab and Fidelity custody relationships Advisor succession and enterprise value Navy leadership principles in wealth management The rise of mega RIAs Advisor technology and infrastructure > Download a transcript of this episode… Listen and Learn Highlights for Advisors Why did being accused of “overservicing” clients become a turning point? (08:15)Michael explains how a conversation with management revealed a deeper misalignment between his client-service philosophy and the wirehouse model. What does client service look like beyond portfolio management? (11:30)The discussion explores how tax planning, equity compensation guidance, and proactive coordination can deepen client relationships. Why can specialization accelerate growth? (15:45)Michael shares why serving a defined niche often creates stronger referrals, greater expertise, and clearer positioning. How has the RIA landscape evolved since 2019? (20:30)Michael reflects on the rise of mega RIAs, changing technology capabilities, and why he believes independent firms still have significant advantages. What role do custodians really play in an independent business? (23:15)Michael discusses his experience working with Schwab and Fidelity and why he views custodians as strategic partners rather than competitors. Is the wirehouse model still the right fit for some advisors? (26:45)The conversation challenges the assumption that independence is the best path for everyone and explores the realities of running a business. Does reaching $1 billion in assets actually change anything? (32:45)Michael offers a practical perspective on growth, success, and why asset milestones can be misleading. What can advisors learn from the “steamboat” philosophy? (37:15)Drawing on his Navy experience, Michael shares a leadership framework that continues to shape how he approaches business building and decision-making. Key Takeaways Exceptional client service can become a meaningful competitive advantage when it extends beyond investment management. Independence gave Michael the flexibility to build a service model that aligned with his philosophy rather than adapting his philosophy to fit the platform. Developing a niche around executive compensation and concentrated stock positions helped accelerate Emerald's growth. The ability to make technology, custodial, and operational decisions quickly remains a significant advantage for independent firms. Not every advisor should be independent. Running a business requires a different set of skills and responsibilities than serving clients alone. Growth milestones are useful, but they do not define success. Michael believes success existed long before Emerald reached $1 billion in assets. High-performing teams with a clear client focus often find that growth becomes a natural byproduct of execution. https://youtu.be/RjzsMcC2DnY Quotable Moments “I literally had to go back and Google the word overservicing.” “Servicing the client is the most important thing that we can do today.” “If you serve a niche and you're very good at that niche, that word gets around.” “Growth becomes the outcome.” FAQs Can an advisor really “over-service” clients? The discussion explores the tension between efficiency and depth of service. While some business models prioritize scale and consistency, others are built around solving a broader range of client problems. The right answer often depends on the advisor's philosophy and business model. Does specialization still matter in a relationship business? Michael argues that developing expertise in a specific area can accelerate growth by making referrals easier and helping advisors become known for solving a particular set of problems. What actually changes when an advisor becomes independent? Beyond economics, independence often creates more flexibility around client service, technology, processes, and business decisions. At the same time, advisors assume responsibility for running the business itself. Is full independence the right path for every advisor? No. Michael acknowledges that many advisors benefit from the structure, support, and resources available within traditional firms. Independence offers flexibility, but it also introduces complexity and responsibility. How should advisors think about the $1 billion milestone? Michael views asset milestones as useful benchmarks but not measures of success. In his view, business quality, client outcomes, and sustainability matter more than any specific asset number. What role does an ideal client persona play in growth? Rather than trying to serve everyone, Emerald built its business around a clearly defined client profile. Michael believes that focus improves service, creates operational consistency, and supports organic growth. How can advisors balance growth with client service? One of the central themes of the episode is that growth and service are not necessarily competing objectives. In some cases, a differentiated service model becomes the reason a business grows. The discussion explores the tension between efficiency and depth of service. While some business models prioritize scale and consistency, others are built around solving a broader range of client problems. The right answer often depends on the advisor's philosophy and business model. Michael argues that developing expertise in a specific area can accelerate growth by making referrals easier and helping advisors become known for solving a particular set of problems. Beyond economics, independence often creates more flexibility around client service, technology, processes, and business decisions. At the same time, advisors assume responsibility for running the business itself. No. Michael acknowledges that many advisors benefit from the structure, support, and resources available within traditional firms. Independence offers flexibility, but it also introduces complexity and responsibility. Michael views asset milestones as useful benchmarks but not measures of success. In his view, business quality, client outcomes, and sustainability matter more than any specific asset number. Rather than trying to serve everyone, Emerald built its business around a clearly defined client profile. Michael believes that focus improves service, creates operational consistency, and supports organic growth. One of the central themes of the episode is that growth and service are not necessarily competing objectives. In some cases, a differentiated service model becomes the reason a business grows. Related Resources The Transitioning Advisor's Lament: Things I Wish I Knew Before Freedom vs. Familiarity: Is it Worth Disrupting Comfort for Something That Might Be Better? IBD vs. RIA Revisited: Two Independent Pathways for Advisors to Consider Advisor Transition Report 2026 Guest Bio Michael Smith, CPWA® is the Founder and Managing Partner of Emerald Advisors, an independent wealth management firm overseeing more than $1 billion in assets for affluent families, executives, and business owners with complex planning needs. Mike entered the wealth management industry in 2005 after a distinguished 24-year career in the United States Navy, where he served both as an enlisted sailor in the Submarine Force and later as a Limited Duty Officer aboard USS Abraham Lincoln and on major staffs around the world. He earned a Bachelor of Science in Management and an MBA with dual emphases in Finance & Accounting and International Business. Throughout his career, Mike has been known for his commitment to comprehensive planning, helping clients navigate complex issues involving concentrated stock positions, executive compensation, tax strategy, estate planning, philanthropy, and multi-generational wealth transfer. His client-first approach and passion for education have helped Emerald Advisors grow from a startup firm in 2019 to a nationally recognized RIA serving more than 225 families. Outside of the office, Mike is an avid ultrarunner, golfer, lifelong learner, and dedicated advocate for children’s health initiatives. He is a current member of the Legacy Council at Seattle Children’s Hospital and has served in leadership and board roles supporting the Juvenile Diabetes Research Foundation, the Barbara Davis Center for Diabetes, the ALS Association, and the Alyssa Burnett Adult Life Center. He is also the proud father of Kat Smith. NOTE: The views and opinions expressed by the guests on this podcast are their own and do not necessarily reflect the views and opinions of Diamond Consultants. Neither Diamond Consultants nor the guests on this podcast are compensated in any way for their participation. View the transcript of this episode… From “Overservicing” Clients to Building a $1B RIA: A Merrill Breakaway Story A conversation with Jason Diamond and Michael Smith, Managing Partner and Founder of Emerald Advisors.      Jason Diamond: Welcome to the latest episode of our podcast series for financial advisors. Today’s episode is From “Overservicing” Clients to Building a $1B RIA: A Merrill Breakaway Story. It’s a conversation with Michael Smith, managing partner and founder of Emerald Advisors. I’m Jason Diamond and this is the Diamond Podcast for financial advisors. Mindy Diamond: At Diamond Consultants, we help elite advisors identify the right environment for their businesses to thrive whether that’s at a wirehouse, boutique or independent firm. With nearly three decades of experience, we’ve guided thousands of advisors and represented more than a quarter of a trillion dollars in assets transitioned and, each year, one in four advisors managing a billion dollars or more who change firms are our clients. Our process is education driven and based on building relationships starting as your strategic partner well before you’re even thinking of a move. To schedule a confidential conversation, call us at (908) 879-1002. Wondering why advisors change firms and where they’re headed? Are transition deals going up or down? Those very questions and more inspired us to create our annual advisor transition report. It’s the award-winning, data-driven resource designed for advisors that connects the dots between the motivations around movement and the firm’s appetite for top talent. Arm yourself with the knowledge you need to make smart decisions. Download your copy at diamond-consultants.com/transitionreport. Jason Diamond: Growth is often viewed as the result of better marketing, stronger referrals, a larger team and even acquisition and that’s all true yet growth can be the byproduct of something else entirely. For example, Michael Smith built a successful practice at Merrill then, one day, he was told he was spending too much time with his clients, or his management put it over-servicing clients. For Michael, that wasn’t a warning sign about his approach, it was a signal that he might have outgrown the firm and the model. Today, Michael is the founder and managing partner of Emerald Advisors, the independent RIA he launched in late 2019 with roughly 385 million in assets and 85 client relationships. Less than seven years later, the firm has grown to more than a billion in assets while remaining deeply focused on a highly-specialized client base and an unusually hands-on service model. What makes this story particularly interesting isn’t just the growth, it’s the thinking behind it. Michael’s perspective was shaped long before he entered wealth management. After serving more than two decades in the Navy, he brought a leadership philosophy centered on accountability, discipline and what he calls steamboat people, those who keep moving forward regardless of conditions, that mindset continues to influence how he builds his team, serves clients and evaluates opportunities. In this episode, we discuss the decision to leave Merrill, the realities of launching a fully independent RIA, why specialization can accelerate growth, the evolving role of custodians and technology and why he believes exceptional client service remains one of the industry’s most durable competitive advantages. Because Michael’s experience suggests that growth isn’t always the result of finding more opportunities, sometimes it’s the result of creating the freedom to execute the vision you already had so let’s jump in. Michael, thank you so much for joining us today. For starters, can you walk us through your background and what brought you to the world of wealth management? Michael Smith: Jason, thank you so much for the opportunity to be here today, I do listen to the podcast a lot especially before I left Mother Merrill. But my background and how I got into financial services is really distinct because I was on the board of JDRF back in the day and the national sponsor for JDRF was UBS PaineWebber and they’re like, “Mike, why don’t you be a financial advisor?” And my master’s degree was actually a finance and accounting in portfolio management because I’ve managed my own portfolio for years and years and so, when I couldn’t get a job, I just fell into it because I couldn’t get a job and I needed a job. That was 21 years ago, Memorial Day so that’s how I got into this industry. Jason Diamond: It’s a unique background, it’s super interesting and I want to talk more about it. You mentioned Mother Merrill, we’ll certainly get there. Before we do, give us a little bit of context on the current business you operate, Emerald Advisors, any context you can share on size, number of staff, types of clients you serve would be great. Michael Smith: Sure. So, we launched Emerald in 2019, November 2019 with about 85 clients and you always talk about this on the podcast how scared it is to launch and go independent. And I would say we took over about 95% of our clients that we wanted to bring over and today we’re at about 230 clients, I think we have some onboarding right now, we have just over a billion of assets. So, we launched with the 85 clients and around 350, 385 million, now we’re over a billion. Jason Diamond: Good for you. Michael Smith: Thank you. And I launched with four employees and we’re now at 11. And I would give a shout-out to one of my key employees because, when I launched, I actually hired somebody that had no experience with us and that was really a good thing because that allowed that person to really focus on operations and back office stuff while my business partner Emily and I were able to focus on bringing on the clients and alleviating any issues that they may have or thought. Jason Diamond: So, meaning you hired somebody basically immediately upon launch to help you with the transition and with this next chapter? Michael Smith: Correct. I hired them before but they started the day we launched. Jason Diamond: Brilliant, I love it. Oh, let’s definitely talk more about that because I think that’s a great strategy for … You’re right, you said it in a joking manner now because you’re seven years past but it’s a very real fear that advisors have and I think it’s worth talking more about. I want to mention too you have, obviously, built this business and grown this business dramatically. I don’t want to make this episode about the pandemic but you moved the business at a, certainly, a unique time. Did it impact your growth at all? Did you feel like you hit a brick wall? Just curious about your thoughts. Michael Smith: No, Jason, that’s a great observation. I would venture to say that the pandemic was actually a good thing for us. Jason Diamond: Interesting. Michael Smith: And I say that because, all of a sudden, you could hit pause because everyone was relearning how to do business, how do we do client reviews, how do we communicate with clients in a environment. So, I think the pandemic allowed us to just really reset our expectations visiting with clients because I used to fly a lot because I have clients in 38 different states so this has actually been, not just good for me, but good for the industry because I think it’s reset our expectations that we don’t have to be every day with a client facing. Jason Diamond: I agree with that largely and it’s true of our business too, by the way, it’s certainly reshaped the way people expect to be communicated with. I think Zoom has become much more mainstream, phone calls and we’ve heard from many other advisors who say something similar. I was just curious because you moved so close to or if there was an impact but I get, honestly, I think you’re right, it allowed you to have this nice natural inflection point and almost like flipping a switch of a clean slate. Michael Smith: It allowed us to learn the processes too. So, we launched in November 1st, by March we were in lockdown and so it gave us the opportunity to take several months of just learning the processes of how to be an RIA, it was pretty good. Jason Diamond: Absolutely. So, one of the things you mentioned in that was the way in which you serve clients and I’d read something funny and I think it was around the time of your move. You were talking about that, Merrill, you had a manager who spoke about that you would overserve your clients, you serve clients too much, tell me about that. Michael Smith: That was such an interesting topic because I got called down to the ops officer’s office and they’re like, “Ugh, Mike.” And it brought my admin down with me and they’re like, “Mike, these reports that you’re taking care of your clients too much,” and I’m like, “What do you mean?” “Well, you’re overservicing them.” Jason, I literally had to go back and Google the word overservicing because I was like, “How do you overservice the client? I’m not making their bed.” It was just so funny to me that I got counsel for overservicing clients when we’re in a client-facing job and I think that was part of the catalyst. Jason Diamond: Tell me more about what they meant, you think. Michael Smith: Hindsight, I think they … I like to take care of people which means I’m very intuitive towards taxes, I understand how the tax code works, I understand how everything impacts their bottom line. So, when we’re doing deferred comp enrollments or 401(k) enrollments or I’m a big believer in Roth 401(k)s and backdoor Roths and I’ve been doing them for years, I think what Mother Merrill wanted at that time was us not to do that. And, again, nothing against Merrill, I get it but this is how they wanted us to act and I wasn’t in that mold, I was taking care of clients to a much deeper depth is how I would say it. Jason Diamond: And I think that speaks to you outgrew the model not necessarily the firm. I think Merrill does a lot of things really well, you would agree with that, I think given that you built 85 clients and 350 million in assets is nothing to sneeze at. But the model that it seems like you value client service and an integrated client service experience of that and the wirehouse model oftentimes doesn’t put a premium on that. Tell me about your ethos or your thoughts around client service today and what being independent enables you to do. Michael Smith: So, that’s an interesting observation because one of my clients actually just mentioned to me that the reason we’re growing so much is because of our service model and the fact that we deliver a tremendous amount of value over just portfolio management. I said my managers is in portfolio management, I don’t do that any longer, I have a staff that handles that for me but it’s really the servicing of the clients because they don’t know what we know and I think servicing the client is the most important thing that we can do today. Jason Diamond: Give me some examples of what you mean by servicing the client in a more holistic way. I agree with you, by the way, portfolio management, table stakes, financial planning, table stakes, tell me more about what you mean. Michael Smith: By that I mean we do a quarterly review on tax. So, a lot of people don’t understand how taxes work and how estimated taxes work. So, estimated taxes are January 1st to March 31st, January 1st to May 31st, January 1st to August 31st, that’s how you do your estimated tax payments, you figure out what that is. And for compensated employees where they have RSUs that come in at different times of the year or different grants or exercise their options at a different time, that can affect their estimated tax liability and I’m not big on giving Uncle Sam any more money than they have to have until they need it. And then everyone doesn’t understand how the penalties and interest works on the IRS. And I’m big on the tax payments because that’s where we can add a lot of value for not a lot of time and we integrate it with our portfolio so we know what we’re doing with our gains. And I happen to reside in Washington State which has a long-term capital gains tax rate once you surpass about 270,000 of long-term capital gains. So, it’s super important for us to be aware of this and that’s how we service them. We also help them with their rebalancing of their 401(k)s, things that wirehouses cannot supposed to do, we are not supposed to be helping them with some of their aspects of life. Jason Diamond: Yup. That’s what I was alluding to earlier, it’s limitations on the model, not because they’re bad models, it’s just a different way, a different ethos around client service. You mentioned RSUs and corporate employees, I know that’s a niche you have is around concentrated stock positions and equity comp plans. I guess let me ask you two different questions around this. First of all, why that niche? Interested. And then, second of all, do you think a team needs to have a specialization to be competitive these days or do you think it’s okay just to be like, “My job is to be the best advisor and I want to service assets wherever those assets may come from?” Michael Smith: Another great observation. I’m going to address the niche first and foremost. I think, and I talked to R.J. Shook’s staff just recently, and having a niche gives you a specialization and it also accelerates your growth factor. If you serve a niche and you’re very good at that niche, then that word gets around. If you’re a jack of all trades, you can do lots of things but I don’t think you’re focused and you’re not hitting the right numbers that I like to see. And I think that would be my theme is the niche allows you to focus on a very specific type of ideal client, that’s a Schwab thing where you have an ideal client persona and our firm has an ideal client persona. As far as having the equity comp, I absolutely was one of the teams at Merrill Lynch that was equity compensation designated, I managed a couple of plans. My exposure to that, Jason, I haven’t thought about this in a very long time, came from UBS where I had team members that were colleagues that were associated with the Nextel Sprint plan. And I always thought that you’re taking care of the top executives but, really, my background being in the military was how do we take care of the troops, the troops, I call them sailors, and how do we educate those sailors. And one of the things I’ve always said in my entire career in the military and I still say to this day is 50% of every bonus or a promotion or something like that should go to long-term savings. So, I use that same mentality with RSUs, with stock options, with bonuses. Set that aside, let that grow because you’re not used to spending it and you will learn to spend what you make. Jason Diamond: I think that’s a great reason, it’s super smart and I love your explanation, it was a very simplistic way. Honestly, even I hadn’t thought about that around your niche, I think, becomes almost like a force multiplier for your own growth because it’s much easier to become the guy in X, Y, Z vertical than to be the guy in every financial advisor of America, across America. Let me ask you a follow-up question, you mentioned the ideal client persona. I spend a lot of time at our firm thinking about this as well, what does your ideal client persona look like. How do you think about an opportunity though that differs from that persona? So, it’s great. Obviously, everybody, it’s easy, you get somebody who’s your perfect prospect, they walk in the front door, sign me up. But when you get something that’s not down the fairway for you, is it just I evaluate it on a one-off basis or are you super disciplined to that approach because it’s who your firm is? Michael Smith: I truly haven’t given that a whole lot of thought but I will tell you how I would handle that because I am handling it with some one-offs. I like the opportunity because you’re stretching your brain in that you’re thinking about how somebody else is reacting so you’d never know. So, I like it from a learning perspective but I also know it comes with a lot of other baggage, I’ll call it baggage, because, all of a sudden, they want to short the market, they want to go long-short strategies. So, all of a sudden, they’re not in our niche and, all of a sudden, they’re taking a lot of time, they’re draining our time so I think you got to be very careful about what you wish for. And there’s a lot of great advisors out there that will walk circles around these topics that I’m like, “Okay, I would rather refer somebody so they get the right experience than give them the wrong experience.” Jason Diamond: I absolutely love that answer. The bow you just put on it, I think, is the appropriate way in my mind to put a bow. At the end of the day, wouldn’t you rather service somebody more optimally even if you don’t believe it’s yourself, I agree with that. I want to ask you one more point on the client service piece. I was playing around on your website and, on your service model, you have health as a component of the client experience of your diagram. Why do you think health matters in a financial context? Michael Smith: I always believed in a healthy mind and a healthy body will bring so much joy to you and I think health is just part of your persona. If you don’t take care of yourself and your body and your mind, then it doesn’t matter what I do, I think you got to start with health. So, I’m very big on the executive physicals, I routinely require all of our staff to have an annual physical. And, again, they’re young people but you got to have these annual … I live and breathe going to see a doctor every year to do my annual physical, not because I think I’m pretty good health, I still run, I do a lot of things but I think your life starts with being healthy. Jason Diamond: Yeah, it’s refreshing to hear that, no doubt. It’s funny to think about but 2019 is a long time ago now and, in RIA world, I almost think of it like dog years. You’ve been around the block now for a little while so I’m curious how have you seen this space change since you launched in 2019? Michael Smith: In 2019, I didn’t know what I was doing, I could barely get out a wet paper bag but I do think it’s changed dramatically. I would say the biggest thing I’ve seen in just the six and a half, almost seven years is the rise of the mega RIAs and how they’re going to shape the industry. Everyone talked about fee compression at Merrill Lynch. When I was at Merrill, we talked about fee compression, then they talked about robo-advisors and now they’re talking about artificial intelligence replacing advisors, I don’t believe that and I don’t think that’s going to happen in the RIA space. What I see the RIA space maturing is into these very big mega firms as well as these independent RIAs like myself that serve a very niche market where we can walk in our lane. The ability to transact today is so much easier as an RIA than it was at a wirehouse as well because we have instant access to technology. My military background, my Navy background says make a decision right, wrong or different, if you don’t like it afterwards or you get new data, course change. So, in our industry, we can change on a notice. I hired a tech firm last year, I didn’t like the experience nine months into it, guess what, they’re not coming back. So, I can do that but you can’t do that at the bigger firms and even the bigger mega firms would have a hard time navigating a change just like that on a dime. Jason Diamond: You bring up an interesting point. To the extent you face competition, do you find yourself competing more against traditional wirehouse type firms or RIAs like yourself, mega caps RIAs? Are your clients attuned to any of this? Michael Smith: That’s an observation I haven’t thought of either there, Jason. I would say I don’t feel that I have a … I know there’s competition out there but we have a growth issue more than we have anything else so I don’t … I can’t take on the clients that want to become my clients so I’m not competing with people too much. Jason Diamond: A capacity issue, you mean? Michael Smith: Yeah, I have a capacity issue. Jason Diamond: I think you’re not alone in that. How can I even think about competition and the like when … A lot of advisors would probably say that. I want to talk more about the capacity situation but, before I do, let’s talk a little more about the RIA setup. Who do you custody with, remind us, and why or how did you arrive at that decision? Michael Smith: Yeah. So, when I launched, I went with Schwab, Schwab is a phenomenal partner, they helped me get a lot of stuff done, I couldn’t have done it without Schwab. During the pandemic, I realized that I should probably … So, remember, during the pandemic, we had a lot of issues with the banking industry, it was almost like a financial crisis but in a very compressed time. So, during the COVID, I decided to add Fidelity as another custodian so now I have two custodians and I opened accounts on both sides of the house but I like the custodians that are there to help you, they’re very good at what they do. I don’t even consider them a competitor and they aren’t competitors, they have their own branch so I don’t consider them competitors, I think they’re my partners and both Charles Schwab and Fidelity are good partners. Jason Diamond: Yeah, I think that’s the healthy way to look at the custody relationship. That’s a very common approach, I think, is launching with one custodian and then adding a secondary custodian or a tertiary custodian down the line for one reason or another so I appreciate you sharing that because we get those types of nuts and bolts questions a lot so I figured I’d ask you. One last question on the setup and then we’ll shift gears. Has anything been a negative? So, you talked about leaving Mother Merrill behind and, Mother Merrill, we use it facetiously but obviously it implies a degree of comfort and the homeland so I’m curious if you miss anything. Michael Smith: I miss the camaraderie of being with a bunch of other folks. I mentioned this when I first launched, I mentioned it year over year with my team, the one thing that we miss as an RIA and, again, Dynasty has their benefits as well and the mega RIAs have their benefits but, if you’re a true independent like myself, we get to go to conferences that we want to and that’s a timing issue, really, a time constraint. But one thing Merrill and Morgan, JPMorgan, and the other big wirehouses have as well as the megas, they have the ability to put conferences together for their advisors or their administrators and have this education. That’s the one thing that, I think, would evolve in the RIA industry in the future as well. They’re not my competitors, they’re my business colleagues. And if we think of them as competitors, and a lot of people do because I don’t want to share my client information or what I do with my competitor because they may steal them, if you’re that insecure, then you’re probably not the right advisor in the first place. Jason Diamond: I don’t disagree with that. It’s interesting too, I hear two common answers to that question, not about Merrill but just about somebody who’s broken away, what do you miss about the captive firm world. Either on this podcast or just in conversations with advisors, brand comes up a lot and then the point you just raised. I’ll even hear like, “Hey, forget the conferences and the trainings, just being able to have an office where I’ve got eight other advisors on a row for me, it’s a little bit of a different setup than in the independent space,” and I think that’s just a reality of you take the good with the bad. And for other advisors, by the way, one of the things I want to ask you about to this point is do you believe that there are advisors that are just better served in the W2 traditional firm world or do you think that every advisor should be looking at the RIA space? Michael Smith: I think that wirehouse serves a great purpose and- Jason Diamond: Okay, me too. Michael Smith: … there’s a lot of great people that are great advisors in that wirehouse, they need the structure. What I hadn’t alluded to is, and I mentioned this to a former manager from Merrill Lynch of mine just recently, actually, I was like, “I don’t think advisors realize what it takes to run a business.” I’m not trying to sugarcoat it, running an RIA is hard work, it takes a lot of your time day in and day out to run a business as well as taking care of and servicing your clients so I do think the wirehouse venue is the right way to go. And, Jason, I want to go back to one other thing about your identity. I launched as the Smith Group because that’s what I was known at Merrill Lynch. Within three or four months, I changed that name to a firm because I did not want to be associated with it. So, when you’re at one of the wirehouses, you’re known as your team name or something of that sort, I didn’t want to be known as that, I wanted to be known as Emerald Advisors not the Smith Group because, all of a sudden, you have a single point of failure. So, brand identity, it’s not so unique inside the wirehouse because it’s a team name versus Merrill or Morgan Stanley or something like that. Jason Diamond: It’s a good segue because I’ll tell you where my mind goes when you bring that up. My mind goes is you’re smart in a way that you might not even realize or maybe you do realize which is that, if and when it ever comes time to sell this business, it is probably more valuable without your name attached to it or maybe not. But in some way, shape or form, as an RIA, you have an obligation to be thinking about that or it’s probably on your radar, maybe not an obligation. Have you given an ounce of thought to M&A either acquiring businesses, growing in that way or, ultimately, when you succeed out of this business and what the RIA space enables you to do? Michael Smith: To answer that question, yes. Everyone’s thinking about merger and acquisition, I think about succession planning from day one. I actually thought about I’m a big team person, I come from the submarine force where everyone is a key player on a submarine, every single person has a job and responsibility on a nuclear submarine. So, inside the financial services industry, I know Merrill Lynch was very big on teaming, I understand Morgan Stanley is as well because teaming gives them a breadth of responsibility where the responsibilities are shared. So, mergers and acquisitions or selling my business, I think, if you’re not thinking about that … And I’m not thinking about selling my business because that’s a distraction to me. If I needed the money, then I would’ve went to a wirehouse and that’s okay, you monetize your life’s work. Today, I’m all about what’s right for the client, what’s right for my team and what’s right for where I want to be in the next 10 to 20 years. So, I am growing, I do want to grow, I’m looking at opening offices in probably three locations in the next 24 months or so. Jason Diamond: Well, that’s what I was going to say, plenty of advisors I think would say the same, I have a lot of runway. But what about the other side of this equation which is you’ve had tremendous organic growth, you’ve tripled your client base, you’ve more than tripled the asset base, have you thought about acquisition as a mean to jet fuel the inorganic growth side of things? Michael Smith: I have but not in the typical sense that you’re looking at as buying a book of business. I want to partner with like-minded advisors that share that common thread of taking care of clients where you can serve as their trusted counsel and sit in the meetings with their attorneys and sit in the meetings with the accountants and give them sage counsel that you can only do because you’ve been with the family for 20 years. You know this family and that, not always, but I think that’s missed a lot in other firms. Jason Diamond: Yeah, I think that’s fair. I just thought of something else that you brought up. You brought Dynasty so I’m going to ask … I’m going to pull on this thread. That implies to me that you’re at least loosely aware of the supportive independence models that are out there yet you chose a very independent, autonomous path, why? Michael Smith: Because I didn’t know what I was doing. Jason Diamond: Fair. Michael Smith: Let’s be honest, I like Dynasty, I talked with Dynasty when I left. I talked to them all, I talked to Rockefeller, I talked to Morgan, I talked to Dynasty and then, when push came to shove, I wanted to be Mike Smith and launch my own firm and learn. And I will tell you, you learn drinking through a fire hose and we did that, we learned, I know the mistakes. What I didn’t want to do is just go to someplace where this is the stuff you’re going to have to use. So, I think Dynasty is a great launching platform, I think there’s other ones out there that are similar to Dynasty or the Rockefellers or the Morgans, it’s truly what you’re trying to achieve in life. What do you want for you and your clients and I always put my clients before me because I’ve always had this lifelong thing of, you do the right thing, you’re going to get taken care of. Jason Diamond: Yeah. And that’s a very common analysis, by the way, and it’s very common too for big advisors like yourself to say I did my homework across all of those different categories. I looked at the traditional wirehouses and regional firms and boutique firms, I looked at the independent broker dealers, I looked at the support platforms and the aggregators and the roll-ups and here’s ultimately what I landed on and why. Did you always know that though or was that something that it took you a diligence process to figure out? There was plenty of advisors, by the way, who come to us and they’re like, “I knew for the last five years that I was sitting there I was launching an RIA someday.” Michael Smith: Yeah. I did not know that and, to be honest with you, hindsight, I think one of those partners probably could have made me a little bit better at first because then I could have focused on clients versus focusing on, hey, how to open a business, who’s your technology … We talked about custodians and some other things but we didn’t talk about technology, how do you go find that technology. Where’s your email address come from? Who’s your chief compliance officer? When it resides on you, you got to look in the mirror. So, I think those parties out there that provide that for brand-new advisors launching could be very beneficial. I had in my mind what I needed to do and I knew I’m very frugal so mine boiled down to how much money I wanted to spend, to be honest with you. Jason Diamond: I think it is a cost benefit analysis, it is. It’s absolutely … Because if you list the functions of a support platform on paper and you showed it to somebody who didn’t know the industry, they would say, “Why on earth wouldn’t you do this? They’re taking off your plate compliance and tech and custody and the like,” and the answer is because there’s a cost associated with it and plenty of advisors decide what you decide, I wanted … Or I just wanted a greater degree of autonomy and freedom, to your point, the name on the door piece, I wanted this to be mine. Michael Smith: And, Jason, I think it also goes to the uncertainty. I had never done anything since Navy, financial advising and then launching. So, for me, I was launching with four employees I had to take care of and here I was going to hire a third party that I was going to have to spend X amount on and I didn’t even know what my income was going to be. That’s different if you’re a multi-billion dollar FA coming out of a wirehouse, the monetary dynamics are different. Jason Diamond: Agreed. Okay, here’s a good one for you. We get this concept from advisors, from firms, from private equity that a billion dollars in assets is like this magic number in our industry. Do you feel like anything’s changed now that you’re at a billion and what’s the next chapter for Emerald Advisors? Is it just continuing on this steady trajectory and serving clients and trust that everything else comes with that? Michael Smith: I go back and forth on a billion, everyone thinks that’s the right number, the biggest number that you need but I think it’s just an arbitrary numbers because it didn’t define who I was. And a lot of people define success at a billion, they define success that you’re a successful firm at a billion. I think I was a successful firm at 300 million, I was a successful financial advisor with 20 clients in 2005. I would say a billion is a multiplier, what I would tell new advisors out there today is gather assets. The more assets you have, the more revenue you generate. The more revenue you generate, the more money you can put in your pocket which means the longer you can stay in the industry. The problem with the industry is an attrition problem, not anything else. So, assets just give us the ability to have revenue which gives us the ability to grow. Jason Diamond: And is that the plan? Keep adding assets, keep growing one client at a time with the focus though, obviously, on what makes you which is a very client-centric service model. Michael Smith: Correct. There’s a lot of things I want to do in the next couple of years and expanding our footprint is our biggest one with the right partners and then just keep adding. I have a business development officer that I’m probably offer a job to here pretty soon and things are going well. Jason Diamond: Yeah, that’s great. You mentioned the tech stack and the other components of the business and I hear you on the frugal cost-benefit analysis. But who did you turn to for some of those early decisions, was it Schwab primarily who helped hold your hand through that? Michael Smith: Schwab was very good at helping me identify the tech stack at first and the tech stack is actually the one consistent, there’s a lot of things I’ve been consistent on but tech is one that I’ve stayed with them. I launched with RightSize, now they’re Advisory, they’re very good, they do the right job for us and I’m big on cybersecurity. So, tech was helpful from Schwab, Schwab helped us with that. Jason Diamond: So, we spoke a little bit about your naval experience but, I’m curious, can you tell us how has your naval experience shaped your perception or your experience in wealth management? Michael Smith: My Navy path was a lot different than many officers. I served 12 years as an enlisted person before I got my direct commission as a Mustang officer, typically called limited duty officers or loud, dumb and obnoxious as I like to say. But that experience gave me a unique perspective because I was able to be the enlisted side and officer which are the workers and then the management side so I had both experiences which was unique. When I was commissioned, Admiral Jerry Ellis, a submarine admiral that commissioned me, heard this lesson to the podium, he was just talking about me in this point but he said, “There are three kinds of people in every organization. You have rowboat people who need to be pushed, you have sailboat people who move whenever the conditions are favorable and then there’s steamboat people, they move continuously through calm or storm.” And he said, “This is Ensign Michael Smith,” he said, “Make your course.” And that’s always stood with me because you do have those three types of people in life. You got people that are just … They’re robo people, they go until they get tired. You got sailboat people that go wherever the wind blows them and then you got steamboat people that chart their own course. I would say for advisors out there make your course or just be happy with what you’re doing. But for some of us hard chargers, I think that analogy has stayed with me my entire career. Jason Diamond: It’s fantastic. I love the analogy, great naval tie in also. Thanks for sharing that. We got time for one more question. You have a fascinating background, a fascinating path to the industry, obviously, an incredibly disciplined approach around client service, any parting thoughts, words of wisdom especially as it relates to growth? That’s what strikes me most about your story is the growth that your move unlocked and that’s what every advisor who listens to our show is looking for. Michael Smith: I’m going to give another plug to Schwab on this. We actually were fortunate and I got their consulting group to come in right afterwards and I’m a big believer in having offsite. So, I’ve had an offsite, two offsites a year for my team and it’s the entire team unlike the wirehouses where you don’t take your admins and stuff like that. I take my entire team to an offsite and we group up on what we’re trying to achieve and have goals and objectives for the year. Schwab allowed us to use their consultants and we came up with our ideal client persona. Teams or firms that have this model become high performing. When you become high performing, growth becomes the outcome. I couldn’t do anything but grow. Jason, I couldn’t not grow because I had this ideal client persona, I knew how I was going to do it, it was measurable. So, growth becomes the outcome and, if you hold people responsible, then we’re all going to grow together and it’s a fun outcome. Jason Diamond: Fantastic, it’s a great place to end. Thank you so much for sharing your expertise with us, I can’t wait to see what the next chapter holds for Emerald, this has been a lot of fun. Michael Smith: Jason, thank you so much. I appreciate everything you do for the industry as well. Mindy Diamond: As a financial advisor, you hold yourself to the highest standards of integrity, honesty and credibility. You are successful because you take your professional responsibility seriously and are dedicated to your clients. But are you living your best business life? Are your goals aligned with your firms or could a better option exist? Should I Stay or Should I Go? Is a book written with you in mind? It’s a self-guided journey that walks you through the key steps that we take with our advisor clients. This strategic thought process and roadmap to professional self-discovery is designed to help you ask the right questions and think critically and objectively whether you’re considering change or not. Learn how to get your copy at diamond-consultants.com/thebook. From “Overservicing” Clients to Building a $1B RIA: A Merrill Breakaway Story A conversation with Jason Diamond and Michael Smith, Managing Partner and Founder of Emerald Advisors.      Jason Diamond: Welcome to the latest episode of our podcast series for financial advisors. Today’s episode is From “Overservicing” Clients to Building a $1B RIA: A Merrill Breakaway Story. It’s a conversation with Michael Smith, managing partner and founder of Emerald Advisors. I’m Jason Diamond and this is the Diamond Podcast for financial advisors. Mindy Diamond: At Diamond Consultants, we help elite advisors identify the right environment for their businesses to thrive whether that’s at a wirehouse, boutique or independent firm. With nearly three decades of experience, we’ve guided thousands of advisors and represented more than a quarter of a trillion dollars in assets transitioned and, each year, one in four advisors managing a billion dollars or more who change firms are our clients. Our process is education driven and based on building relationships starting as your strategic partner well before you’re even thinking of a move. To schedule a confidential conversation, call us at (908) 879-1002. Wondering why advisors change firms and where they’re headed? Are transition deals going up or down? Those very questions and more inspired us to create our annual advisor transition report. It’s the award-winning, data-driven resource designed for advisors that connects the dots between the motivations around movement and the firm’s appetite for top talent. Arm yourself with the knowledge you need to make smart decisions. Download your copy at diamond-consultants.com/transitionreport. Jason Diamond: Growth is often viewed as the result of better marketing, stronger referrals, a larger team and even acquisition and that’s all true yet growth can be the byproduct of something else entirely. For example, Michael Smith built a successful practice at Merrill then, one day, he was told he was spending too much time with his clients, or his management put it over-servicing clients. For Michael, that wasn’t a warning sign about his approach, it was a signal that he might have outgrown the firm and the model. Today, Michael is the founder and managing partner of Emerald Advisors, the independent RIA he launched in late 2019 with roughly 385 million in assets and 85 client relationships. Less than seven years later, the firm has grown to more than a billion in assets while remaining deeply focused on a highly-specialized client base and an unusually hands-on service model. What makes this story particularly interesting isn’t just the growth, it’s the thinking behind it. Michael’s perspective was shaped long before he entered wealth management. After serving more than two decades in the Navy, he brought a leadership philosophy centered on accountability, discipline and what he calls steamboat people, those who keep moving forward regardless of conditions, that mindset continues to influence how he builds his team, serves clients and evaluates opportunities. In this episode, we discuss the decision to leave Merrill, the realities of launching a fully independent RIA, why specialization can accelerate growth, the evolving role of custodians and technology and why he believes exceptional client service remains one of the industry’s most durable competitive advantages. Because Michael’s experience suggests that growth isn’t always the result of finding more opportunities, sometimes it’s the result of creating the freedom to execute the vision you already had so let’s jump in. Michael, thank you so much for joining us today. For starters, can you walk us through your background and what brought you to the world of wealth management? Michael Smith: Jason, thank you so much for the opportunity to be here today, I do listen to the podcast a lot especially before I left Mother Merrill. But my background and how I got into financial services is really distinct because I was on the board of JDRF back in the day and the national sponsor for JDRF was UBS PaineWebber and they’re like, “Mike, why don’t you be a financial advisor?” And my master’s degree was actually a finance and accounting in portfolio management because I’ve managed my own portfolio for years and years and so, when I couldn’t get a job, I just fell into it because I couldn’t get a job and I needed a job. That was 21 years ago, Memorial Day so that’s how I got into this industry. Jason Diamond: It’s a unique background, it’s super interesting and I want to talk more about it. You mentioned Mother Merrill, we’ll certainly get there. Before we do, give us a little bit of context on the current business you operate, Emerald Advisors, any context you can share on size, number of staff, types of clients you serve would be great. Michael Smith: Sure. So, we launched Emerald in 2019, November 2019 with about 85 clients and you always talk about this on the podcast how scared it is to launch and go independent. And I would say we took over about 95% of our clients that we wanted to bring over and today we’re at about 230 clients, I think we have some onboarding right now, we have just over a billion of assets. So, we launched with the 85 clients and around 350, 385 million, now we’re over a billion. Jason Diamond: Good for you. Michael Smith: Thank you. And I launched with four employees and we’re now at 11. And I would give a shout-out to one of my key employees because, when I launched, I actually hired somebody that had no experience with us and that was really a good thing because that allowed that person to really focus on operations and back office stuff while my business partner Emily and I were able to focus on bringing on the clients and alleviating any issues that they may have or thought. Jason Diamond: So, meaning you hired somebody basically immediately upon launch to help you with the transition and with this next chapter? Michael Smith: Correct. I hired them before but they started the day we launched. Jason Diamond: Brilliant, I love it. Oh, let’s definitely talk more about that because I think that’s a great strategy for … You’re right, you said it in a joking manner now because you’re seven years past but it’s a very real fear that advisors have and I think it’s worth talking more about. I want to mention too you have, obviously, built this business and grown this business dramatically. I don’t want to make this episode about the pandemic but you moved the business at a, certainly, a unique time. Did it impact your growth at all? Did you feel like you hit a brick wall? Just curious about your thoughts. Michael Smith: No, Jason, that’s a great observation. I would venture to say that the pandemic was actually a good thing for us. Jason Diamond: Interesting. Michael Smith: And I say that because, all of a sudden, you could hit pause because everyone was relearning how to do business, how do we do client reviews, how do we communicate with clients in a environment. So, I think the pandemic allowed us to just really reset our expectations visiting with clients because I used to fly a lot because I have clients in 38 different states so this has actually been, not just good for me, but good for the industry because I think it’s reset our expectations that we don’t have to be every day with a client facing. Jason Diamond: I agree with that largely and it’s true of our business too, by the way, it’s certainly reshaped the way people expect to be communicated with. I think Zoom has become much more mainstream, phone calls and we’ve heard from many other advisors who say something similar. I was just curious because you moved so close to or if there was an impact but I get, honestly, I think you’re right, it allowed you to have this nice natural inflection point and almost like flipping a switch of a clean slate. Michael Smith: It allowed us to learn the processes too. So, we launched in November 1st, by March we were in lockdown and so it gave us the opportunity to take several months of just learning the processes of how to be an RIA, it was pretty good. Jason Diamond: Absolutely. So, one of the things you mentioned in that was the way in which you serve clients and I’d read something funny and I think it was around the time of your move. You were talking about that, Merrill, you had a manager who spoke about that you would overserve your clients, you serve clients too much, tell me about that. Michael Smith: That was such an interesting topic because I got called down to the ops officer’s office and they’re like, “Ugh, Mike.” And it brought my admin down with me and they’re like, “Mike, these reports that you’re taking care of your clients too much,” and I’m like, “What do you mean?” “Well, you’re overservicing them.” Jason, I literally had to go back and Google the word overservicing because I was like, “How do you overservice the client? I’m not making their bed.” It was just so funny to me that I got counsel for overservicing clients when we’re in a client-facing job and I think that was part of the catalyst. Jason Diamond: Tell me more about what they meant, you think. Michael Smith: Hindsight, I think they … I like to take care of people which means I’m very intuitive towards taxes, I understand how the tax code works, I understand how everything impacts their bottom line. So, when we’re doing deferred comp enrollments or 401(k) enrollments or I’m a big believer in Roth 401(k)s and backdoor Roths and I’ve been doing them for years, I think what Mother Merrill wanted at that time was us not to do that. And, again, nothing against Merrill, I get it but this is how they wanted us to act and I wasn’t in that mold, I was taking care of clients to a much deeper depth is how I would say it. Jason Diamond: And I think that speaks to you outgrew the model not necessarily the firm. I think Merrill does a lot of things really well, you would agree with that, I think given that you built 85 clients and 350 million in assets is nothing to sneeze at. But the model that it seems like you value client service and an integrated client service experience of that and the wirehouse model oftentimes doesn’t put a premium on that. Tell me about your ethos or your thoughts around client service today and what being independent enables you to do. Michael Smith: So, that’s an interesting observation because one of my clients actually just mentioned to me that the reason we’re growing so much is because of our service model and the fact that we deliver a tremendous amount of value over just portfolio management. I said my managers is in portfolio management, I don’t do that any longer, I have a staff that handles that for me but it’s really the servicing of the clients because they don’t know what we know and I think servicing the client is the most important thing that we can do today. Jason Diamond: Give me some examples of what you mean by servicing the client in a more holistic way. I agree with you, by the way, portfolio management, table stakes, financial planning, table stakes, tell me more about what you mean. Michael Smith: By that I mean we do a quarterly review on tax. So, a lot of people don’t understand how taxes work and how estimated taxes work. So, estimated taxes are January 1st to March 31st, January 1st to May 31st, January 1st to August 31st, that’s how you do your estimated tax payments, you figure out what that is. And for compensated employees where they have RSUs that come in at different times of the year or different grants or exercise their options at a different time, that can affect their estimated tax liability and I’m not big on giving Uncle Sam any more money than they have to have until they need it. And then everyone doesn’t understand how the penalties and interest works on the IRS. And I’m big on the tax payments because that’s where we can add a lot of value for not a lot of time and we integrate it with our portfolio so we know what we’re doing with our gains. And I happen to reside in Washington State which has a long-term capital gains tax rate once you surpass about 270,000 of long-term capital gains. So, it’s super important for us to be aware of this and that’s how we service them. We also help them with their rebalancing of their 401(k)s, things that wirehouses cannot supposed to do, we are not supposed to be helping them with some of their aspects of life. Jason Diamond: Yup. That’s what I was alluding to earlier, it’s limitations on the model, not because they’re bad models, it’s just a different way, a different ethos around client service. You mentioned RSUs and corporate employees, I know that’s a niche you have is around concentrated stock positions and equity comp plans. I guess let me ask you two different questions around this. First of all, why that niche? Interested. And then, second of all, do you think

Host Don Adeesha sits down with Kara Kelly, CEO of Clinical HR, to tackle the people problems that quietly derail aesthetic practices, from the moment a clinician becomes a reluctant manager to the chaos of a private equity acquisition. Kara brings fifteen-plus years of direct experience inside med spas and medical practices, and she pulls no punches on the compliance traps that cost owners real money before they ever see an audit coming. The conversation goes deep on the W2 versus 1099 misclassification issue, one of the most widespread and expensive mistakes in the aesthetic industry. Kara walks through a real-world case where a five-location practice was hit with a $142,000 IRS penalty for misclassifying just 13 providers, explains why signed contracts and S-Corps offer zero protection, and outlines the SS-8 filing process and the step-by-step path to correcting classification before the letter arrives. Kara closes with her HR ETA framework, clear Expectations, the right Tools and Training, and consistent Accountability, as the foundation every practice owner needs before they hire their next team member, restructure their compensation model, or close on an acquisition. Her central message: the practices that build great cultures do not do it by reacting to problems. They do it by writing the rules before the game starts.

What does it really take to walk away from a seventeen-year corporate career and build an $18 million marketing agency in just three years? In this episode, Eric Winegard shares the mindset, discipline, and relentless commitment that helped him go from a troubled childhood and military structure to becoming the CEO of Rare Blue Moon Marketing. We dive into the realities of entrepreneurship, the difference between paid ads and organic content, and why most businesses fail before marketing even begins. Eric breaks down the importance of networking without an agenda, building a real personal brand online, and why commitment is the trait that separates successful founders from everyone else. You'll also learn how sales psychology, leadership, and self-belief became the foundation for scaling one of the fastest-growing agencies in the space. What You'll Learn in This Episode How Eric went from a troubled childhood to military discipline Why sales became the skill that changed his life The difference between networking and selling Why most marketers don't understand sales How Rare Blue Moon Marketing scaled so quickly Why organic content and paid ads need to work together What business owners get wrong when hiring agencies Why commitment matters more than talent About Justin:   Justin Colby is the host of The Entrepreneur DNA and The Science of Flipping podcasts and a best-selling author. He is a serial entrepreneur and a seasoned real estate investor with over 20 years of experience.   Driven by a passion to help entrepreneurs thrive, Justin created the Entrepreneur DNA community to support business owners in building wealth, systems, and long-term freedom. Through his podcasts, books, education platforms, and hands-on mentorship, he continues to help entrepreneurs scale with clarity and confidence.   Connect with Justin: Instagram: @thejustincolby YouTube: Justin Colby TikTok: @justincolbytsof LinkedIn: Justin Colby About Eric Winegard Eric Winegard is the CEO and cofounder of Rare Blue Moon Marketing, a fast-growing digital marketing agency helping businesses scale through paid advertising, SEO, content strategy, and lead generation. After spending seventeen years in corporate sales leadership, Eric transitioned into entrepreneurship and rapidly built an $18 million agency by combining high-level sales psychology with modern marketing systems. His story spans a difficult upbringing, military discipline, and years of mastering sales, networking, and leadership before becoming a founder. Today, Eric works with businesses across multiple industries to help them grow through strategic marketing, brand positioning, and scalable customer acquisition. Connect with Eric Winegard: Instagram: @ericwinegardofficial YouTube: @ericwinegard8088 Facebook: winegard1 LinkedIn: Eric Winegard Website: rarebluemoon.io   Chapters 0:00 The road from W2 to eighteen million dollars 2:45 Is sales a born talent or a learned skill 5:30 Why high level masterminds are worth the investment 9:15 Overcoming a difficult childhood and foster care 13:40 How the military builds a wartime mentality 17:50 Why Eric left a safe CEO track to start over 22:10 The role of faith and grit in business growth 26:45 Burning the boats and making success a necessity 30:15 Paid ads vs organic content strategy 33:50 Humanizing your brand on social media 37:20 Geofencing and targeting for local businesses 41:05 Lessons from the Gold Coast Podcast and Brad Lea 44:30 Why marketing cannot fix a broken business model 46:46 Final advice for aspiring entrepreneurs   #entrepreneurship #digitalmarketing #salesstrategies #scalingbusiness #mindset   Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

主題: W2與1099是報稅的必須文件嗎？姚寧剛會計師 主講

Ryan Pineda and cohost Brian Davila sit down with entrepreneur Brian Luebben to discuss transitioning from a W2 career into business ownership, scaling through acquisitions, building wealth through focused entrepreneurship, and why relationships, family, and time freedom ultimately matter more than chasing money alone.⁣⁣Connect with Brian - ⁣https://www.instagram.com/brianluebben/⁣https://www.actionacademypod.com⁣__________⁣If you'd like my team to run your marketing & sales department to scale your business apply here https://www.pinedapartners.com⁣⁣Join our private mastermind for elite business leaders who golf. https://www.mastermind19.com⁣⁣Want to be featured on the Wealthy Way Podcast? Apply here https://www.wealthyway.com⁣⁣If you want to start your real estate investing business, we'll give you 1:1 coaching, seller leads, software, & everything you need. https://www.wealthyinvestor.com⁣⁣Tired of paying so much in taxes every year? We'll give you strategy, tax prep, and accounting all in one place. https://www.taylor-tax.com⁣⁣Join free Bible studies and workshops for Christian business leaders. https://www.tentmakers.us⁣⁣Dad Built is all about helping fathers lead their families with purpose while looking great doing it. Whether you're at the gym, on the golf course, or spending time with your kids, they've got premium hats and apparel built for dads. Check out the latest collection and current offers at https://www.dadbuilt.co⁣__________⁣Chapters: ⁣00:00 - From W2 To Entrepreneur⁣02:03 - Finding Love While Building⁣04:21 - Focus Beats Diversification⁣06:03 - Buying Boring Businesses⁣07:28 - Multiple Arbitrage Explained⁣10:49 - Passive Income Is A Myth⁣16:25 - Build Vs Buy Businesses⁣18:39 - Navigation Vs Acceleration⁣22:00 - Why Bigger Businesses Win⁣30:57 - Finding Businesses To Buy⁣36:44 - Choosing Your Hard⁣53:50 - Defining Your Enough Number⁣01:00:55 - The Freedom Paradox⁣01:04:03 - Experiences Have Expiration Dates⁣01:06:17 - The 18 Summers Lesson⁣01:11:16 - How Brian Met Natalia⁣01:16:08 - The Five Fs Of Marriage⁣01:23:13 - Building A Strong Foundation

What happens when an engineer living out of his car decides that relying on a paycheck is the biggest risk of all?In this episode of Living The Red Life, Jason Roberts shares how years of homelessness, financial uncertainty, and career setbacks forced him to rethink everything he believed about wealth, security, and success. After transitioning from engineering into sales, Jason discovered a scalable path through real estate investing that transformed his future and ultimately led to multiple thriving businesses.He breaks down the mindset shifts, sales strategies, deal analysis frameworks, and wealth-building principles that helped him go from sleeping in a church parking lot to building an eight-figure real estate portfolio. Whether you're an entrepreneur, investor, or someone searching for greater financial freedom, this conversation reveals practical lessons on creating income, reducing risk, and thinking bigger than ever before.Key Takeaways• Why sales is the single most valuable skill for building wealth• How to identify high-margin opportunities with real product-market fit• The framework Jason uses to eliminate downside risk in investments• Why relying solely on a W2 job may be riskier than entrepreneurship• How problem-solving and persistence create long-term financial freedomNotable Quotes• "If you get rid of the downside, then all you're left with is upside."• "Learn how to sell. Sales is the number one skill that will help you build wealth."• "Everything in life is figure-out-able."• "Don't rely on anybody else for your success."• "You don't have to be exceptional, but your effort does."Connect with Rudy Mawer:LinkedInInstagramFacebookTwitter

8 Money Rules with Nik Johnson | Chris on Everyday Money Heroes | 106Chris Luger didn't grow up wealthy. He didn't have a finance degree. He started over from scratch after a divorce in 2015, barely knowing what a budget was. Nine years later, he walked away from his W2 at 50 with a $2.5 million portfolio.In this episode, Chris joins Nik Johnson on Everyday Money Heroes to tell that whole story from the messy beginning, the real estate wins (and the properties he eventually had to cut loose), the power of the FIRE community, and the 8 Money Rules he lives by.What you'll hear in this episode:How a divorce in 2015 became the catalyst for Chris's entire financial transformationWhy he gave himself a 10-year timeline to reach FIRE and hit it in nineThe mix of residential real estate and index fund investing that built his portfolioWhy he's now transitioning out of residential rentals and into commercial real estateHis 8 Money Rules — practical principles covering everything from learning the fundamentals to protecting your wealth to building an emergency fundWhy "money is just an amplifier" and how financial freedom lets you give back in ways you never could beforeContact Chris:https://heavymetal.moneyhttps://www.facebook.com/MoneyHeavyMetalhttps://x.com/MoneyHeavyMetalhttps://www.instagram.com/chrislugerhttps://www.tiktok.com/@heavymetalmoneyemail: chris at heavymetal.moneyConnect with Nik:https://everydaymoneyheroes.comhttps://www.youtube.com/@Everyday-Money-HeroesResources and Links:MOSH PIT RULES FOR MONEY: WHAT HEAVY METAL TEACHES US ABOUT FINANCIAL SURVIVALhttps://heavymetal.money/moshpitrules/Contact Chris:https://heavymetal.moneyhttps://www.instagram.com/heavy_metal_money/https://www.youtube.com/@heavymetalmoneyhttps://www.facebook.com/chrislugeremail: chris at heavymetal.money

A central discussion in the podcast focused on the applicability of the Entrepreneurial Operating System (EOS) for small Managed Service Providers (MSPs). Divergent perspectives were presented regarding whether the EOS framework is suitable for MSPs with very few staff. The conversation highlighted that while EOS provides accountability, transparency, and structured communication, some very small organizations (e.g., four employees or fewer) may find the framework's meeting cadence and process requirements disproportionate to their operational needs. It was noted that EOS promises value in promoting ownership and alignment but that this benefit is more likely realized when an organization reaches a scale where individual ad hoc communications become inefficient. Supporting these observations, it was emphasized that EOS, as detailed in resources such as Gino Wickman's book and related summaries, is designed with flexibility to span small, medium, and large teams. Examples were offered indicating that even companies with four employees have derived benefits through formalizing updates and consolidating communication, provided their baseline culture supports collective knowledge sharing. However, one position outlined that simply reading EOS materials may be sufficient for the smallest organizations to improve focus without fully implementing the structure, especially when daily meetings or formal processes are not otherwise necessary. The episode additionally examined risk management and operational best practices surrounding MSP business growth and eventual sale. The dialogue discouraged running a business constantly as if preparing for immediate sale, citing the need for risk-taking during growth phases. Factors such as maintaining diverse client portfolios, implementing clear master service agreements (MSAs), reducing owner dependency, and minimizing client concentration risk were underscored as practices that support both ongoing scalability and future valuation. A case was discussed in which valuation was negatively impacted by an overreliance on non-contracted, concentrated clients and a lack of W2 employees, illustrating the risk implications of operational decisions. For MSPs and IT service leaders, the discussion underscored the importance of regularly reviewing operational frameworks and business hygiene regardless of size. The tradeoffs between structure and agility require clear-eyed evaluation, particularly in managing risk, scaling sustainably, and ensuring future options for valuation or exit. While formal systems like EOS can strengthen accountability and communication, overengineering processes in very small teams may reduce efficiency. Careful attention to client diversification and contractual commitments is essential for risk reduction and maximizing enterprise value.   Title:    Is EOS good for a small MSP?What are we talking about today: MSP Question of the week: EOS framework in your business – is this good for MSPs? First introduced by Gino Wickman in his book Traction, the EOS framework focuses on aligning teams and driving execution  What the Heck is EOS? (shorter book)  AMYS NEW BOOK!!!   Top 20 questions - Should you run your business like you're going to sell it? Image of Amy's book  Amy's Book: https://amzn.to/4dSYOcR MSP struggle hiring good people – what do you do when you hire a mediocre employee?  Article reference: https://www.linkedin.com/posts/timothykoirtyohannsphr_their-new-hire-was-fired-after-28-days-share-7361376947848843264-5UwS/ What is your quote turnaround time? Tales from the Field: I was doing a valuation this week and shared the results with the owner --  Good revenue 1.5m, good NI 375K, GREAT MRR 75%, good location and team.   No contracts, no office, no employees only 1099, 1 client represents 50% of revenues, and owner wants full exit. Amy and James Events: SMB Online Conference- June 25th panel. Free registration for SMB Online Community members. Register at www.smbonlinecommunityconference.com Mastermind Event – July 30-31st, 2026 in Omaha, NE. Register at  https://kernanconsulting.com/mastermind-event/ Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Disclaimer: Today's episode is sponsored by Gelt. Content is for educational purposes only. Not advice. Results discussed have not been vetted. Claims made by the guest have not been verified. The views expressed by the guest do not reflect those of the host or this show.—

Learn how you can turn your life insurance policy into a super Roth for retirement. Tom Love is a CEO and financial wealth expert with over 40 years of experience. He walks through the multiplicity of benefits life insurance can unlock not just for the top 1% but for business owners, entrepreneurs, W2, and retirees. We cover the tax advantages, risk mitigation, non-recourse loan benefits, as well as debunking some of the most common talking points against life insurance.Watch the Interview on Youtube for Visuals - https://youtu.be/NABjYZ3BggoConnect with Tom Love: https://www.linkedin.com/in/tom-love/The Breakaway League: https://www.linkedin.com/company/thebreakawayleague/Want to See If Whole Life Insurance Can Improve Your Financial Plan? Schedule Your Clarity Call Here: https://bttr.ly/bw-yt-aa-clarityWant Us To Review Your Permanent Life Insurance Policy? Click Here: https://bttr.ly/yt-policy-reviewWant Free Whole Life Insurance Resources & Education? Go Here: https://bttr.ly/yt-bw-vaultLearn More About BetterWealth: https://betterwealth.comChapters:00:00 - Interview Teaser and Introduction to "Super Roths" and Life Insurance 01:54 - Communicating the "Why" and Selective Clientele 02:35 - Wealth Strategies Within the Tax Code 04:18 - Tax-Free Income vs. Tax-Exempt Cash Flow 06:05 - Hidden Debt of Retirement Accounts 09:55 - Mechanics of Non-Recourse Loans 11:40 - The 1990 GAO Report and Tax Exemption 15:52 - Breakaway League and Better Communication 21:11 - Problem with Collateralizing Retirement Plans 25:23 - Case Study: A Billionaire's Insurance Strategy 28:55 - Real-World IRS Audit Story 30:53 - Permanence of the Tax Code and Section 7702 33:13 - The Mount Everest Analogy for Financial Planning 38:43 - Practicality: Taking Loans in Real Life 41:40 - Whole Life vs. IUL and Mutual Companies 44:46 - Warren Buffett and the Life Settlement Market 47:35 - The Conflict of the Fiduciary Registration 50:39 - Debating PUA Riders and Policy Design 54:44 - The Cons and Risks of Life Insurance 57:22 - Collateral Capacity in Real EstateDISCLAIMER: https://bttr.ly/aapolicy*This video is for entertainment purposes only and is not financial or legal advice. Financial Advice Disclaimer: All content on this channel is for education, discussion, and illustrative purposes only and should not be construed as professional financial advice or recommendation. Should you need such advice, consult a licensed financial or tax advisor. No guarantee is given regarding the accuracy of the information on this channel. Neither host nor guests can be held responsible for any direct or incidental loss incurred by applying any of the information offered.

How One Rental Turned Into 32 Doors follows David Nino as he shares how a single rental property became the foundation for a 32-door real estate portfolio. In this episode of the Real Estate Masters Podcast, David breaks down how he got started during the 2008 market crash, why distressed properties became his niche, and how long-term buy-and-hold investing helped him escape the W2 lifestyle. He also shares lessons on tenant screening, house hacking, scaling rental properties, and why freedom is the ultimate definition of success in real estate. _______________________________ If you want to learn how to run your business in 5 hours or less.... Go to https://www.5HourBusiness.com Subscribe to my YouTube channel:    / @tonyjavierbiz And if you're into flying and want to follow my Aviation journey, check out my other YouTube channel at    / @tonyjaviertv _______________________________ Follow me on Social Media: Tiktok -   / tonyjavier.tv Instagram -   / tonyjavier.tv Facebook Personal -   / tonyejavier Facebook Business -   / realtonyjavier ________________________________________ If you want to dominate your Real Estate Market with TV commercials, go here: https://www.ClaimMyMarket.com If you want to connect with me and my network, go to https://tonyjavier.com/connect If you want to check out Tony's Real Estate Resources and Vendors go to https://www.TonyJavier.com/resources ________________________________________ Tony is the owner of an INC 5000-rated Real Estate Investment Company. He has been featured in Bigger Pockets, Wholesaling INC, Steve Trang's Real Estate Disruptors, Joe Fairless' Best Ever Podcast, and many other top podcasts and platforms. When Tony is not working on his business, he enjoys flying his plane. You can see videos on that and how he uses airplanes to save money on taxes. Don't forget to like the video, comment, subscribe to my channel, and share this with a friend if I'm doing my job and providing value to you and your network. If I'm not doing my job please let me know in the comments how I can be better, your feedback is greatly appreciated. See you in the next video!

What if everything you were taught about building wealth was designed for someone else's benefit, not yours? High-income professionals, especially doctors, lawyers, and entrepreneurs, are earning hundreds of thousands of dollars a year and still ending up financially behind, buried in debt, crushed by taxes, and handing their futures over to Wall Street. In this episode of the Real Estate Investor Growth Network, Jen Josey sits down with Buck Joffrey, MD, a former cosmetic surgeon turned serial entrepreneur who has been involved in over $2 billion in real estate transactions, to expose exactly why the traditional financial playbook is quietly failing the highest earners in the room and what to do instead. Buck breaks down his mathematical wealth formula, a momentum-based framework built around mass, velocity, and leverage, that gives high-income professionals a repeatable system for building real, lasting passive income. He shares the pivotal moment that made him walk away from a prestigious surgical career at UCSF, why syndication investments unlock a world most people never even know exists, and how the short-term rental loophole gives busy professionals access to powerful depreciation benefits without requiring a real estate professional designation. He also gets candid about the operators who got crushed by rising interest rates and how to vet a deal and a sponsor without getting burned. This episode is essential listening for any high-income earner who feels like they are working harder than ever but not getting ahead financially. Whether you are a doctor, a business owner, or a seasoned investor looking to scale smarter, Buck's framework will shift how you think about money, passive income, and the power of investing like the ultra-wealthy. The window to position yourself in quality assets is open right now, and this conversation will show you exactly how to walk through it. 5 Powerful Takeaways The Mathematical Wealth Formula Revealed: Buck's three-variable framework of mass, velocity, and leverage gives high-income professionals a clear, repeatable system to multiply wealth without relying on luck or timing the market. Why Earning $500,000 a Year Can Still Leave You Broke: Between student loan debt, lifestyle inflation, and W2 tax exposure, high earners are often the most financially vulnerable, and Buck explains precisely why and how to fix it. The Short-Term Rental Loophole High-Income Earners Are Missing: Buck confirms that STR investing allows busy professionals to access real estate depreciation benefits typically reserved for full-time real estate professionals, creating a massive tax advantage hiding in plain sight. How to Vet a Syndication Sponsor Without Getting Burned: In a market where even respected operators have taken losses, Buck outlines the non-negotiable questions to ask about a deal's location, job growth, construction pipeline, and the operator's track record before writing a single check. Accredited Investor Access Changes Everything: Once you understand what becomes available at the accredited investor level, from private equity to pre-IPO opportunities to syndications, you realize the ultra-wealthy are not smarter, they simply play in a different game, and Buck shows you how to enter it. About the Guest Buck Joffrey, MD, is a former cosmetic and neurosurgeon who trained at the University of California, San Francisco, before making a bold pivot into entrepreneurship, real estate, and financial education. He has been involved in over $2 billion in real estate transactions and has spent more than a decade helping high-income professionals break free from the golden handcuffs of a high salary with nothing to show for it. Buck is the host of the Wealth Formula Podcast, one of the longest-running financial education shows for professionals, and the number one international bestselling author of 7 Secrets of Eternal Wealth. His unique superpower is reverse-engineering the strategies of the ultra-wealthy and translating them into a practical, math-backed framework that busy professionals can actually implement. Resources and Websites Mentioned wealthformula.com Wealth Formula Podcast, available on YouTube and all major podcast platforms reignmastermind.com therealjenjosey.com   00:00 REIGN Podcast Intro 00:59 Guest Proof STR Tips 04:44 Meet Buck Joffrey 07:03 Surgeon to Entrepreneur 10:02 Money Mindset for High Earners 11:59 Real Estate and Syndications 15:08 Why High Income Stays Broke 17:14 Mathematical Wealth Formula 21:40 Women and Wealth Gap 23:18 Passive Income Options 23:57 Tax Strategy With Rentals 25:34 Accredited Investor Access 27:57 Syndication Explained Simply 28:50 Vetting Operators And Deals 32:33 Book And Podcast Future 35:19 Badass Book Pick 36:39 Advice And Long Game 37:33 Drive And Aspirations 38:59 Systems And Success 40:46 Where To Find Dr Buck 41:44 Final Wrap And Subscribe

Bobby Triplett is VP of Renovation Services at Offerpad, a publicly traded iBuyer with operations in 20+ markets across 15 states, where he has led the renovation of more than 40,000 homes over nearly a decade. His team now offers institutional-grade, W2-staffed project management to private investors — from first-time flippers doing two deals a year to clients running 120 renovation projects a month. This episode covers how Bobby built a scalable renovation infrastructure that private investors can plug into without hiring a single employee, and why itemized scopes, fast trade payments, and a culture of accountability are the real drivers of ROI. If you're a real estate investor trying to scale your fix and flip or rental renovation operations without drowning in contractor headaches, this one is for you.Episode Highlights[1:03] – Host introduces Bobby and why his renovation model helps investors make, spend, and keep more money[2:17] – Bobby explains how Offerpad scaled to 100 renovations a month across 20 states before pivoting to serve private investors[3:09] – How Offerpad's $60–$70M annual materials spend lets private investors access wholesale pricing and institutional-grade service[4:37] – Bobby describes his client range: from investors doing 2–3 flips a year to one client running 120 projects a month[5:31] – Why Offerpad Renovate is like renting a sports car: investors get the speed and systems without the overhead[6:59] – How Bobby built loyal trade networks by guaranteeing volume, fast payment, and relationship-based accountability[9:08] – The culture of ownership and stewardship that defines how Bobby's team handles mistakes and escalations[12:52] – Where the model works best: median price and below, investment properties only, no luxury or retail renovations[16:37] – Why Bobby refuses lump-sum bids and uses fully baked, room-by-room itemized scopes instead[18:35] – Bobby's core mission: giving investors confidence in renovation so they can focus on sourcing and scaling[21:08] – The tech stack: CompanyCam for photos, proprietary software for scopes, and a dedicated W2 project manager as the investor's single point of contact[24:18] – Bobby's backstory: from Bible college and 15 years in ministry to leading Invitation Homes' 7,900-door Tampa maintenance division[27:02] – How Bobby turned one of Invitation Homes' worst-performing markets into a top-five in the country within one year[30:01] – A Saint Louis client scaled to 11 markets and 7 states without hiring a single employee, using Offerpad Renovate as his renovation infrastructure5 Key TakeawaysVolume Is the Loudest Language — Contractors don't have marketing budgets. When you guarantee consistent pipeline and pay fast, you earn loyalty and wholesale pricing. That combination is how Bobby's team delivers institutional quality at a price private investors can actually work with.Itemized Scopes Protect Your ROI — Lump-sum bids are where investors get burned. Bobby's team submits fully baked, room-by-room scopes with labor, materials, margin, and taxes on every line item. That transparency lets investors make real-time tradeoffs and actually understand where their money is going.Culture of Accountability Scales — "What gets celebrated gets repeated" isn't just a slogan at Offerpad. Bobby built his reputation by teaching his team to own mistakes and communicate proactively, even when the news is bad. No news, he says, is always worse than bad news.Scale Without Adding Overhead — One of Bobby's clients operates across 11 markets and 7 states with a small team and zero local hires. By using Offerpad's W2 project managers as their on-the-ground infrastructure, investors can say yes to good deals in markets they've never set foot in.Confidence Is What Lets Investors Grow — Most investors hit an ejection button not because they run out of deals, but because they run out of trust in their partners. Bobby's model is built to give investors confidence in the renovation piece so they can stay focused on sourcing and scaling.Links & Resources• Offerpad Renovate — offerpad.com/renovate • CompanyCam (photo documentation tool) — companycam.com • Simple CFO (financial systems for real estate investors) — simplecfo.com • Need to Lead by David Burke (leadership book Bobby's team is reading together)Closing RemarkIf you're scaling your real estate portfolio and renovation costs are eating your margins or slowing your growth, Bobby's model is worth a serious look. Share this episode with an investor in your network who's been burned by contractors or is ready to expand into new markets. Subscribe, review, and share the show — and if you want to get control of your cash flow on the financial side, visit simplecfo.com.

Fidel Cache Flow drops by for a raw, no-BS conversation on dominating tech sales, stacking high-paying SDR/BDR contracts, and building real wealth while staying anonymous on Twitter. From SDR to Enterprise AE (with $19M+ ARR sold and multiple President's Club wins), Fidel shares how he built the #1 Tech Sales Community in the world, runs Desperado Sales Group, and helps sellers escape the W2 grind through smart job stacking and side hustles. We talk burnout-proof careers, leadership in SaaS, and practical tactics to 2x–3x your income without burning bridges. If you're in sales, tech, or just want the unfiltered playbook for making serious money, this one's for you. Join Fidel's community: https://whop.com/fidel-cache-flow/?a=mylatinlife Follow Fidel: @FidelCacheFlowContract Stack Now:  https://whop.com/fidel-cache-flow/?a=mylatinlife 

Brians Questions: I frequently work with dark wood, and need to mark the cuts.  Do you have a recommendation for a white pencil or pen that is fine tipped? Thank you for the great show and your time to produce it. -George What has been your favorite veneering project (or what project would you like to do with veneer) George Guys Questions: Hey guys, your recent talk about bandsaws made wonder if anyone is using anything cool for bandsaw infeed and out feed, im using roller stands and doing resaw cuts that are about 10' long. I also was curious how you guys would go about making a cabinet over a toilet not require filler strips? Maybe a scribed face frame? Great podcast lately, i really enjoy it. Tyler I'm making a bow front dresser and the bow will be made by gluing up 1/8th” bending play. The front of the drawers will be 1/16th” shop sawn cherry veneer. I'm planning on putting  1/32” backing veneer on the inside of the bow.  To make up the bow i will have a couple glue ups. The first glue up will be the 1/8th” bending ply and the 1/32” backing veneer. For ease of use, I plan to use unibond one for this glue up. The second glue up for the front piece of 1/16” cherry veneer I plan to use Unibond 800 to ensure there is no wood movement later, since the height of some of the drawers will be 10”.  My questions are: is 1/32 backing veneer ok seeing the front piece of veneer is 1/16”? And second: is using Unibond 800 a bad idea because it will only be for the front piece of veneer. Mike Huys Questions: Hi,  Love the show. I recently got into woodworking as part of my stress relief from my W2 job (ICU work) and have fallen in love with it. I have expanded my tool chest and have a makita track saw and recently noted there was a variable speed setting on it. What guide do you utilize to change that setting? I have had it on 6 since I got the saw and never even thought to change it. I did finally follow your advice and upgrade my blade with a CMT finish 36 tooth carbide blade and what a difference cutting through hardwoods. Thanks, Viyeka Anyway, i wanted to ask how you would go about cleaning mouse droppings on your wood. The cdc (because of the hantavirus scare) suggests using bleach and then wiping but it seems harsh on raw wood stock. I don't want the bleach to penetrate too deep. I was thinking of spraying with a soapy solution and then gently wiping it off all my wood. What do you think? —vaibhav from chicago

Sign Up For Relay through My Referral Link: ⁠https://join.relayfi.com/partner/?referralcode=temporaryhousingmeetup&utm_source=events&utm_medium=…⁠In this eye-opening episode of In The Lab, Ruben breaks down one of the biggest misconceptions in entrepreneurship and real estate investing: confusing an asset class vs. building an actual business. Too many people say they want to “quit their W2 through real estate,” but never stop to ask the deeper question… are they trying to become an investor or build a business machine that produces cash flow at scale?Throughout the episode, Ruben unpacks the difference between long-term investing, operating a real estate business, and using business income to fund wealth-building assets. He explains why most successful entrepreneurs didn't get wealthy from the asset class itself first, but from the business engine behind it. From wholesalers and flippers to coaches, syndicators, and short-term rental operators, Ruben challenges listeners to study how people actually made their money instead of blindly copying the final product.He also dives deep into the importance of context when making business decisions. Instead of asking generic questions like “What's the best strategy?” Ruben explains why better outcomes come from reverse engineering your goals based on your skills, location, liquidity, lifestyle, time availability, and long-term vision. The episode also explores why B2B businesses create leverage faster than B2C models, and why AI may be the greatest business opportunity window modern entrepreneurs have ever seen.Tune in now to learn why “the math has to math,” how to stop chasing misleading business models, and why understanding the difference between owning assets and operating a business could completely change your financial future.#EntrepreneurMindset #BusinessGrowth #RealEstateInvesting #WealthBuilding #AssetVsBusiness #QuitYourW2 #B2BStrategy #AIForEntrepreneurs #FinancialFreedom #InTheLab

Join The Creative Finance Playbook Coaching Program & Learn Directly from Jenn & Joe:⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://creativefinanceplaybook.com/⁠⁠Most people think building a real estate portfolio while working a full-time job is impossible… but Abby & Ryan prove otherwise

This week, Dinah Birch finds solace in letters and diaries from the past, whether they be joyous, heartbreaking or down-to-earth; John Talbot reads us his poem of a very specific corner of London. A Literary Letter for Every Day of the Year, edited by Liz Ison The Writer's Room: The hidden worlds that shape the books we love by Katie da Cunha Lewin Diaries of Note: 366 lives, one day at a time, edited by Shaun Usher St Petersburgh Mews, W2, a poem by John Talbot Produced by Charlotte Pardy Hosted on Acast. See acast.com/privacy for more information.

Apply to work with me one-on-one: https://www.cleartheshelf.com/applyHarry's an HR Director with a 10-year corporate career, a wife, kids, and a barn full of a million worms. In January 2026, he wrote a post to himself: "365 days from now you freaking did it, bro." Less than two months later, he replaced his W2 salary with Amazon income.Harry (@SellFlipDad) is building everything at once: a full-time career, an Amazon OA business, Whatnot live selling shows with his wife, and a Claude AI bot that messages potential customers 24/7 while he sleeps. This episode covers how he went from worm farming to salary replacement in 6 months, why he calls himself a "reseller" instead of an Amazon seller, the AI bot that runs his Whatnot chat (and accidentally bought him a Carhartt hat), and how he balances all of it without losing his family or his mind.Chapters:00:00 - The HR Director Who Replaced His Salary With Amazon02:00 - "Our Son's Twin Passed Away. We Needed Our Why."03:49 - From Worm Farming to Amazon (The Unlikely Pipeline)05:23 - "365 Days From Now You Freaking Did It, Bro"07:00 - What Amazon Revenue vs. Profit Actually Looks Like Early On10:00 - Getting Your Spouse On Board (She Said "You're Crazy")15:02 - Wife Goes From Teacher to Fashion Business Owner on Whatnot18:18 - "I Am a Reseller." Why Identity Matters23:00 - Daily Prioritization: W2 First, Then Where's the Money?27:07 - Whatnot Live Selling: $1 Starts on Goodwill Kids' Clothes33:00 - The AI Bot That Runs His Whatnot Shows (Claude Cowork)36:00 - How Claude Messages Thousands of Potential Buyers While He Sleeps39:24 - Claude Automated His Entire HR Paperwork Too40:00 - Going Deep: The Magic Number Is 700 Monthly Sold Batch44:00 - Paying to Play: Using Losses to Build Sales History46:57 - Ungating: "Keep Asking. Gamify It. Try Number 60 Is Coming."51:36 - Claude for Amazon Sellers: Where to Start55:00 - Balancing Work, Family, and the Grind (The Honest Take)59:00 - What Does Freedom Actually Look Like?01:01:00 - Lightning Round: Bidet, Lawn Service, and a Million WormsFollow Harry:X/Twitter: @SellFlipDadWhatnot: Outgrow KidsFollow Chris Grant:X/Twitter/Instagram: @cleartheshelf Newsletter: https://cleartheshelf.com/newsletterFollow Chris Racic:X/Twitter: @ChrisRacicNewsletter: https://oaleads247.com

Why do corporate employees romanticize entrepreneurship… while entrepreneurs secretly crave the stability of a paycheck? In this episode, I'm unpacking a conversation I think more people need to have honestly—because the answer isn't as simple as "quit your job" or "play it safe." Having worked in corporate, built a business in direct sales, and now running my own coaching and consulting company, I've experienced both worlds firsthand. And what I've learned is this: Every path solves problems. And every path creates them too. This episode is less about labels and more about understanding what you actually need in this season of life. We talk about: The real tradeoffs between corporate careers and entrepreneurship—including stability, autonomy, pressure, growth, flexibility, and lifestyle sustainability Why social media oversimplifies the "quit your job" narrative The realities of dual-income households, financial runway, and responsible career planning The pressure and blurred boundaries that often come with entrepreneurship Why many W2 roles offer more support, predictability, and structure than people realize How to evaluate what truly matters to you in this season of life Why hybrid career paths and evolving seasons may be a better fit than extremes The importance of building a life and career that leave you energized, aligned, and fully alive Here are the some great resources I wanted to share with you: Book a Free Clarity Call https://www.mollyasplin.com/subscribe molly@mollyasplin.com Follow Me on Instagram Growth Day App - 7 Day Free Trial   Are you looking to improve performance and team effectiveness across your team? Book A Team Effectiveness Consult Here   If this message resonated with you, I'd be so grateful if you'd leave a rating and review—it helps the show reach more high achievers who are ready to do life and work differently. And if you're listening today, take a screenshot of this episode & tag me on Instagram @molly.asplin so I can personally thank you and cheer you on!  

Kristopher "Kris" Grey is the founder of Creatapult and a seasoned project management consultant with over two decades of experience helping contractors and growing businesses scale without operational chaos. A self-described "construction brat" who grew up inside his family's contracting company, Kris launched his entrepreneurial journey under pressure — just days after the birth of his first child — and turned that crisis into a mission to help business owners build the systems, dashboards, and accountability frameworks they need to protect margins, reduce risk, and lead with clarity through fractional project management leadership.SHOW SUMMARYIn this episode, Jonathan Goldhill is joined by Kristopher Grey of Creatapult about how contractors and other organizations can scale without operational chaos. Kristopher shares his origin story of losing all family income three days after his first child was born, which shifted his view that entrepreneurship and having a “side” income can be less risky than relying on one W2 job. Drawing on his upbringing in a family construction business, he describes common contractor failures such as bad bookkeeping, overreliance on tribal knowledge and heroics, understaffing project management, and the “death spiral” where winning more work leads to schedule slips, quality decline, change-order losses, and margin erosion. They discuss the “Who does what by when” accountability tool, dashboards, backup PMs, and the rise of fractional project management leadership. Kristopher outlines a 90-day execution engine focused on project intake, portfolio stabilization with RAG reporting, and risk tracking, and shares a transit-operator turnaround that enabled growth and COVID resilience.KEY TAKEAWAYSWinning more work can kill a company. Growth without systems creates a "death spiral" — slipping schedules, declining quality, and cash flow collapse, even when revenue is rising.Bad bookkeeping is the #1 contractor mistake. If you don't know your margins, you can't manage your business — you're running a personal ATM, not a company.Project managers lose effectiveness past 2 projects. Overloading PMs is a silent killer of profitability and client relationships."Who Does What By When" is the foundation of execution. Without a clear owner, a clear task, and a hard deadline, everything drifts.Systems are the antidote to turnover. With employees switching jobs every ~4 years, institutional knowledge must be documented — not held in someone's head.Fractional project management lowers the barrier to scaling. Companies don't need a full-time executive to get enterprise-level PM leadership — they just need the right fractional fit.Don't be afraid to ask for help. Pride is the number one source of doom for family construction businesses.Risk tracking is almost always missing. Most contractors react to problems instead of forecasting and mitigating them early.A RAG dashboard (Red/Amber/Green) gives leadership real-time project visibility and frees CEOs from daily firefighting to focus on strategy.QUOTES"It's kind of like a fish drowning in water. You'd think that winning more work would be a good thing… but if they've not been managing those projects well, they're bleeding out." — Chris Grey"If you don't put a deadline on something, your project is always at risk of falling behind by the longest single scheduling item you have.""Pride is probably the number one source of doom for a lot of these companies — the name is often on the building.""Most employees are essentially a statistic or a number for a company — they can be let go at any time.""Always have something on the side. If the thing takes off, run with it.""Growth alone doesn't create successful companies — but execution does." — Jonathan Goldhill (closing)"We were doing more with less — but less stress overall — because the PMs had the tools they needed to be successful."Connect and learn more about Kristopher Grey.https://www.linkedin.com/in/kristophergrey/If you enjoyed today's episode, please subscribe, review, and share with a friend who would benefit from the message. If you're interested in picking up a copy of Jonathan Goldhill's book, Disruptive Successor, go to the website at www.DisruptiveSuccessor.com

John Casmon breaks down how to invest in apartments without being a landlord — using syndication to build wealth at scale with other people's capital.In this episode of RealDealChat, Jack Hoss sits down with John Casmon of Casmon Capital to break down how everyday investors can get into multifamily real estate without managing tenants, toilets, or the day-to-day grind.John shares the framework behind apartment syndication, including:Why buying small with your own cash creates a slow, painful grindWhat apartment syndication actually is and how it lets you scale using pooled capitalHow AI is replacing W2 jobs and why real estate is one of the most technology-resistant assetsWhy the T12 (trailing 12 months) can trap you if you don't know which numbers carry forwardThe intentional investing framework: building a portfolio around your life goals, not just chasing returnsWhy value-add deals that cash flow on day one beat "loss leader" strategiesHow an executive assistant and AI agents can free up your most valuable hoursThe lie most investors tell themselves about finding great dealsWhether you are just starting out or already own a few units and feel stuck in a slow grind, this episode will give you a better lens for how to structure your next move.

Shane Perkins - Ultimate Strategy On the Reality Banks Overlook: "If you have that kind of equity and you've worked and you've saved that down payment, then there's nothing telling me that you're not going to make your payments." When you have a job with a W-2, you fit in the traditional bucket.  Traditional things for people with traditional jobs are fine.  They are simple, and easy and everyone can buy them with ease.  You want a loan, let's see your W-2, and see how much house you can afford. The challenge comes in when you are an entrepreneur.  You make money, but it isn't nearly as easy as looking at a line on a document supplied by your employer.  There are many more factors and a bit of gray area.  These are the types of things that traditional banks get scared of.  That is where the Ultimate Strategy comes in.  To get entrepreneurs into homeownership, without the limitations of traditional banks. Listen as Shane Perkins describes how he is training more students to help entrepreneurs implement the Ultimate Strategy to achieve the homeownership they desire. Enjoy! Visit Shane at: https://TheUltimateStrategy.com Sponsors: Live Video chat with our customers here with LiveSwitch: https://join.liveswitch.com/gfj3m6hnmguz Calls On Call Extraordinary Answering Service: https://callsoncall.com Some videos have been recorded with Riverside: https://www.riverside.fm/?utm_campaign=campaign_5&utm_medium=affiliate&utm_source=rewardful&via=james-kademan   Podcast Overview: 00:00 Issues with current mortgage system 05:36 Helping families become homeowners 08:58 Understanding mortgage pre-approval vs. approval 12:45 Real estate deals in different states 13:21 Working in your local market 18:39 Discussing home loan qualification criteria 20:11 Discussing home loan options 24:35 Benefits of refinancing a mortgage 26:57 Real estate investment strategy 29:52 Housing affordability concerns 34:22 How mortgage payments are managed 36:41 Investor strategies for real estate students 41:23 Discussing payment reminders with clients 43:56 Passion for helping people in real estate 47:03 Maximizing returns on home equity 51:38 The value of entrepreneurship Podcast Transcription: Shane Perkins [00:00:00]: I've created a strategy that helps people get into homes that don't qualify for traditional mortgage. I just realized that the demand is so high that I can't help everybody. So I'm creating an army of folks that want to go out there and help people become homeowners. If someone's looking for a real estate investment strategy, there's nothing better out there. It's consistent. Couple deals a month, two, three deals a month, every single month. There's always a demand for it. James Kademan [00:00:33]: You have found Authentic Business Adventures, the business program that brings you the struggle stories and triumphant successes of business owners across the land. Downloadable audio episodes can be found on the podcast link found@drawincustomers.com we are locally underwritten by the bank of Sun Prairie Calls On Call, Extraordinary Answering Service, the Bold Business Book, as well as Live Switch. And today we're welcoming, preparing to learn from Shane Perkins of the ultimate strategy. So, Shane, how is it going today? Shane Perkins [00:01:02]: It is going great. How are you doing? Do you have a good Mother's Day? Yeah. James Kademan [00:01:06]: Oh, yeah, yeah. That was. It just came and went. Yeah, it's so funny. My kids in sports, so any day, Mother's Day, Father's Day, whatever, Memorial Day, Labor Day, they're all. You're just traveling to some different grassy field where he's playing some sport. So, yeah, I imagine that's what a lot of parents are doing. Let's start with the ultimate strategy. James Kademan [00:01:29]: Shane, what is the ultimate strategy? Shane Perkins [00:01:31]: Well, I have been a real estate investor for 29 years, and I've created a strategy that helps people get into homes that don't qualify for traditional mortgage. And I didn't start that until 2001. And so I've been doing that for about 25 years. James Kademan [00:01:49]: Wow. Shane Perkins [00:01:49]: And so I call it the ultimate strategy. And I did it myself for many, many years. And. And now that my kids are grown and gone, and I've decided that I need to empower other people to help more people get into homes. So I teach other people how to do the ultimate strategy, and they use that strategy to go and help other people get into homes. James Kademan [00:02:15]: Right on. And is it the property that has the challenge getting lending happening, or is it the borrower, the people trying to get into the home? Shane Perkins [00:02:23]: You know, James, I say that we have a broken mortgage system. You know, they've been using the same system for 30 years and they're, you know, people change jobs, people start businesses. Business owners are notoriously turned down for mortgages because they are taught, as all of us entrepreneurs are to minimize their taxes. Right. Well, that means writing off everything that you can. And there's many things that you can write off. And at the end of the day, your tax return says that you don't make enough money to pay for a house, but you're sitting there paying $3,000 a month in rent. And so we know that these people can pay. Shane Perkins [00:03:01]: We know how to record their income in a manner that will finance them on a house. And when I say finance, we get them into a house. We are not lenders, so we use creative financing strategies, real estate investment strategies that have been around for, you know, a hundred years. And so that's what we do. We help people get into homes. James Kademan [00:03:26]: Right on. You know, it's interesting you mentioned the small business thing, because I remember the last house that I bought with my wife. We, the lender straight up told us, let's just put her W2 on there and just ignore your income. And if we get challenged by it, then we'll come back and figure something out. But it's better just to not even use the word entrepreneur or self employed. Shane Perkins [00:03:49]: It is. James Kademan [00:03:51]: I'm like, I'm pretty sure I make more money than her, but whatever makes. Shane Perkins [00:03:56]: But that's the way it works. And it is, it's a broken system. And I, you know, what I've figured out over 25 years of doing this program is that there's three components that make people pay for their home. And the first one is the most important one. And that's in that they're in the home of their choice. You know, there are owner finance programs out there on specific houses, but if that's not what you want, what's, you know, what's, you know, what's the factor there? Yeah, you can call yourself an owner, but it's in something that you're having to settle for. And so that's the first factor. The second one is that they must have equity. Shane Perkins [00:04:35]: And so we do require down payment. You know, it's similar to the older old school. Right. 20% down. We do some 15% down deals, but you got to have some skin in the game. So you got to, you know, save for a down payment. And that and the fact that you have income is the third thing. But documenting that income for a bank is far different than documenting that income for what we do. James Kademan [00:05:01]: Right on. So are people coming to you or are you having a cold call and reach out to people? Shane Perkins [00:05:07]: No, once, once you get this program up and running, people seek you out. You know, there's a statistic that I heard, and I can't verify if it's true or not because they're pretty close. Close lipped on their. And I've tried to verify it, but I had a friend of mine tell me that, that, that actually works with Zillow very closely. That said 7,000 people a day are turned down that have a 20% down payment on Zillow. And I don't discredit it. I believe that that's true. I just can't prove it. Shane Perkins [00:05:36]: But that's a lot of people. And they don't want to rent again, you know, that, you know, renting is. It's great when you need it, but when you have kids and you have a family, you don't want to be at someone else's mercy to just raise your payment or, hey, I want somebody else to move into there, you know, or we're going to sell or something like that. You want to give your kids roots, you want to give them a home. You want to be able to build a tree house or paint your girl's bedroom pink and your boy's bedroom blue or what have you, you know, you want to call it yours. And so we've recognized what it takes to be able to help people get into homes. And now I just realized that the demand is so high that I can't help everybody. So I'm creating an army of folks that want to go out there and help people become homeowners. James Kademan [00:06:26]: Right on. Let's talk about this army. Is this army people that are just looking to start their own business in this space, or is this other people that are already in the mortgage industry and they're looking for. Shane Perkins [00:06:37]: It's a little bit of both. Yeah, it's a little bit of both. So, you know, real estate investing, there's a lot of people that want to get into it, you know, and there's all these programs out there, and I don't, you know, wholesaling and fix and flip and burr methods, you know, buy, repair, rent and repeat and all of these different methods. And they're all good strategies, but they're a lot more competitive nowadays because there's so many people getting. Getting into it. So it takes you, you know, you have to go through quite a few cold calls. And the things that loi blaster, where they. You blast out letters of intent, agent outreach, door knocking, foreclosure list, there's all these different strategies. Shane Perkins [00:07:22]: And again,...

Are you building a business that supports your life, or a life that supports your business? In this episode, host Chad Harris sits down with Casey Gregersen, a former petroleum engineer who traded offshore rigs for real estate freedom. Casey shares his journey of scaling from a single house hack to managing over 450 units. We dive deep into the "why" behind the hustle—focusing on family, coaching your kids' sports teams, and using creative leverage to buy back your time. Whether you are currently in a W2 job or looking to scale your portfolio, Casey's insights on multi-family investing and virtual management systems are a must-listen.Follow Casey on IG, Facebook, and Linked In @Casey.Gregersenor his site at https://caseygregersen.com/Visit our website at www.TrueWealthInvestors.com for more real estate wisdom and resources. More Resources & LinksStruggling to get started in Real Estate or feel like you are struggling to get to the next level?  Check out this Free Vision Casting Video to help clarify your goals and get specific steps to accomplish them!Schedule a 30 Minute Discovery Call with Chad Accelerate the growth of your business and reclaim control of your life! Are you tired of your business running you instead of the other way around? It's easy to get bogged down in the day-to-day operations, making it challenging to identify overarching challenges and solutions. Let's schedule a call to gain a strategic 10,000-foot perspective and devise a tailored plan for your success. Take the first step towards a business that not only thrives but also enhances your life!  Connect with Chad on LinkedInFollow Chad on InstagramFollow Chad on YouTubeFollow True Wealth on FacebookBe sure to leave a rating & review to let us know how this show has helped YOU!

Join an active community of RE investors here: https://linktr.ee/gabepetersenREAL ESTATE INVESTING STRATEGIES THAT CREATE FINANCIAL FREEDOM

Had enough of the nine-to-five grind? Then it's time to start engineering your exit with assets that will give you more time, flexibility, and financial freedom: rental properties. Today's guest will show you how to replace your salary with cash flow and finally start living on your terms! Welcome back to the Real Estate Rookie podcast! Jamie Trickett had the cozy, corner-office job most people dream of, but it wasn't enough. With a three-hour daily commute on top of a 40+ hour workweek, she had very little time left for her boys. Something had to give. So, Jamie took a leap of faith and bought her first rental property. What was initially intended as a retirement asset quickly evolved into another steady income stream. Just two years later, she quit her W-2 job to go all-in on real estate investing and has stacked five rental properties in five years. Jamie hasn't just scaled to $10,000 in monthly cash flow. She's also saved six figures in taxes through cost segregation studies and other overlooked tax deductions. You don't need dozens of rentals to do what Jamie's doing. Stay tuned to learn how YOU can copy her success with a “small and mighty” portfolio! In This Episode We Cover How Jamie quit her job with a “small and mighty” real estate portfolio Making $10,000 in monthly cash flow with just five rental properties Replacing your W2 income with rental property cash flow How to save thousands in taxes with a cost segregation study Building a real estate business that gives you control of your time How to stop “shiny object syndrome” from derailing your investing goals And So Much More! Check out more resources from this show on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠BiggerPockets.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠h⁠t⁠⁠tps://www.biggerpockets.com/blog/rookie-716⁠. Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠advertise@biggerpockets.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Bree Hartman was a successful gym owner, but after attending a self-storage conference, she decided it was time to jump in with both feet into real estate. In her first 12 months she acquired 2 self-storage facilities, and operates across Sacramento, Louisiana, Tennessee, the Carolinas, and the Sunbelt States. She is also the founder of Self Storage School, where she helps investors and W2 employees find, fund, and buy their first cash-flowing self-storage facility. Her 5 year goal is to own 12 facilities by June 2029, while remotely managing non-manned locations and working just 20 hours per week.Follow Bree

How Emran Chowdhury Built Passive Income with 23 Rentals breaks down how Emran went from working a demanding W2 job to building a long-term rental portfolio across multiple states while spending only about an hour a week on the business. In this conversation, he shares how house hacking started his journey, why property management became the key to time freedom, how he finds strong cash-flowing deals, the power of 1031 exchanges, and the mindset shifts that helped him scale without being tied to day-to-day operations. It is a practical look at building real passive income through buy-and-hold real estate investing. _______________________________ If you want to learn how to run your business in 5 hours or less.... Go to https://www.5HourBusiness.com Subscribe to my YouTube channel:    / @tonyjavierbiz And if you're into flying and want to follow my Aviation journey, check out my other YouTube channel at    / @tonyjaviertv  _______________________________ Follow me on Social Media: Tiktok -   / tonyjavier.tv   Instagram -   / tonyjavier.tv   Facebook Personal -   / tonyejavier   Facebook Business -   / realtonyjavier ________________________________________ If you want to dominate your Real Estate Market with TV commercials, go here: https://www.ClaimMyMarket.com If you want to connect with me and my network, go to https://tonyjavier.com/connect If you want to check out Tony's Real Estate Resources and Vendors go to https://www.TonyJavier.com/resources ________________________________________ Tony is the owner of an INC 5000-rated Real Estate Investment Company. He has been featured in Bigger Pockets, Wholesaling INC, Steve Trang's Real Estate Disruptors, Joe Fairless' Best Ever Podcast, and many other top podcasts and platforms. When Tony is not working on his business, he enjoys flying his plane. You can see videos on that and how he uses airplanes to save money on taxes. Don't forget to like the video, comment, subscribe to my channel, and share this with a friend if I'm doing my job and providing value to you and your network. If I'm not doing my job please let me know in the comments how I can be better, your feedback is greatly appreciated. See you in the next video!

From $50K House to Financial Freedom | Andrew Postell shares how Andrew started at rock bottom with a $50,000 house hack and turned it into a powerful real estate portfolio while still keeping his W2 job. In this episode, he breaks down how real estate became the tool to escape financial stress, create freedom, and focus on what truly matters beyond money. From leveraging your first home to building rental income with property management, this conversation reveals the mindset and strategy needed to transform your financial future. _______________________________ If you want to learn how to run your business in 5 hours or less.... Go to https://www.5HourBusiness.com Subscribe to my YouTube channel:    / @tonyjavierbiz And if you're into flying and want to follow my Aviation journey, check out my other YouTube channel at    / @tonyjaviertv _______________________________ Follow me on Social Media: Tiktok -   / tonyjavier.tv   Instagram -   / tonyjavier.tv   Facebook Personal -   / tonyejavier   Facebook Business -   / realtonyjavier   ________________________________________ If you want to dominate your Real Estate Market with TV commercials, go here: https://www.ClaimMyMarket.com If you want to connect with me and my network, go to https://tonyjavier.com/connect If you want to check out Tony's Real Estate Resources and Vendors go to https://www.TonyJavier.com/resources _______________________________________ Tony is the owner of an INC 5000-rated Real Estate Investment Company. He has been featured in Bigger Pockets, Wholesaling INC, Steve Trang's Real Estate Disruptors, Joe Fairless' Best Ever Podcast, and many other top podcasts and platforms. When Tony is not working on his business, he enjoys flying his plane. You can see videos on that and how he uses airplanes to save money on taxes. Don't forget to like the video, comment, subscribe to my channel, and share this with a friend if I'm doing my job and providing value to you and your network. If I'm not doing my job please let me know in the comments how I can be better, your feedback is greatly appreciated. See you in the next video!

There's a kind of stuckness that can show up even when everything looks “ready” on paper—the numbers work, the plan is there, and yet the decision still feels hard to make. I see this a lot when therapists are considering the move from W2 work into full-time private practice. In my coaching conversation with Dr. Amber Vernon, a recent grad of the Money Skills for Therapists program, we explore what happens when the hesitation isn't about money skills or financial planning—but something deeper. Even when the path looks clear, there can still be a sense of activation, doubt, or what she calls “squirreliness” that makes it hard to move forward. Ready to feel more calm and confident about your money? Do you feel confused, ashamed, or uncertain about your finances? Are you craving support to help shift your money mindset and transform your relationship with money? Are you ready to gain practical tools and the confidence you need to finally take control of your business finances? If so, I'd love for you to join me for one of my free online workshops, designed specifically for private practice owners who feel stuck—whether it's mindset blocks, avoidance, or the technical side of managing money. In just one hour together, you'll gain clarity, practical strategies, and next steps to move forward with intention. Click here to explore upcoming workshops and save your spot or register to get the replay. When the Numbers Make Sense but the Decision Still Feels Hard Sometimes the stuckness isn't about strategy—it's about what the decision represents. You can have the income stability, the emergency fund, the private practice already working… and still feel a pull to stay where things feel more predictable. What I see here is how control, perfectionism, and financial anxiety can keep you circling even when you're ready. When your nervous system is activated, it can start to question everything—your plan, your niche, even the sustainability of your therapy business. And at that point, more data doesn't help. That “squirreliness” isn't a sign that you're doing something wrong—it's more often a sign that you're stepping into something unfamiliar. Moving Through Uncertainty When You're Already “Ready” Even when the financial planning and logistics are in place, the decision can still feel unsettled—especially when control, identity, and uncertainty are all in the mix. (00:04:59) Deciding on career transition (00:07:28) Discussing work challenges and options (00:12:48) Avoiding future decisions now (00:15:39) Navigating personal decision impacts (00:25:54) Overcoming fear to take action (00:26:51) Assessing current intellectual interests (00:30:44) Choosing work that excites you (00:35:18) Exploring varied career paths (00:36:37) Deciding when to move on (00:40:21) Reflecting on chaotic energy (00:43:01) Embracing diverse skills and strategies Letting Your Path Be More Flexible Than You Expected One of the shifts in this conversation is moving away from the idea that there's one “right” version of private practice. For some therapists, the goal isn't a single, fixed path—it's building a career that allows for variety, different income streams, and evolving interests. When you're good at a lot of things, decision-making can feel harder, not easier. But that doesn't mean you're off track—it just means your path might be more flexible than you expected. Instead of waiting until everything feels certain, you can start by taking small steps, testing what feels energizing, and letting that guide your next move. You don't have to figure out your entire career transition all at once—you just have to stay in motion long enough to learn what actually fits. About Amber Vernon: Dr. Amber Vernon is a police psychologist who has worked with various public safety agencies in Virginia for over 10 years. Her service encompasses academy-based training, subject matter expert instruction, employment-related evaluation, wellness visits, professional consultation, and critical incident response. Dr. Vernon is passionate about building (and maintaining) bridges between people, experiences, and disciplines. She is known for working collaboratively to identify questions, develop useful answers, and provide clear and action-oriented next steps. Connect with Amber: Website: www.vernonpsyd.com Get to Know Linzy Bonham: Linzy Bonham is a private practice therapist turned money coach who helps private practice owners and health professionals feel calm and in control of their finances through her coaching at Money Skills For Therapists and her podcast Money Skills for Therapists. It all started when she saw her extremely skilled colleagues struggle with the money side of business. Some had even left private practice, or were avoiding starting one, because the financial side was too stressful. So Linzy decided to help therapists and health professionals develop peace of mind about their money. Since so many were never taught these skills, she focuses on the “how” of making the business side of private practice doable, and even super satisfying. Follow Linzy Bonham: About Page: https://moneyskillsfortherapists.com/about/ LinkedIn: https://www.linkedin.com/in/linzybonham/ Instagram: https://www.instagram.com/moneyskillsfortherapists/

Are you stuck grinding but never really escaping?In this punchy solo episode, Kenny Bedwell drops the curtain on the two proven secrets that transformed his own portfolio, and he does not sugarcoat the realities. With sharp stories of scrappy beginnings, W2 frustration, and the gut-check moment that forced him to choose between comfort and growth, Kenny Bedwell dives deep into the real reasons investors stall out.Listen in if you're ready to challenge the “just buy another unit” mentality, discover why time (not money) is your biggest bottleneck, and learn exactly what stops even high-income professionals from breaking through. Miss this episode and you're gambling with years of wasted effort, stretching your goals into a never-arriving someday. Hit play now for straight answers you truly won't find recycled elsewhere.Timestamped Highlights00:00 – What most investors get wrong about “scaling up”01:58 – The single conversation that shattered my old plan03:49 – The moment I made triple rent… and everything changed05:25 – The ugly reality of juggling W2, family, and side hustles08:23 – The corporate drama that forced my hand10:22 – Why time, not money, is your real shortcut to freedom14:42 – Why “bold” isn't gambling and how I protect against disaster16:40 – The uncomfortable moves that led to explosive cash flowMentioned ResourcesAirbnbBiggerPocketsImportant LinksWant us to find the deals for you? https://strinsights.com Get Top Markers for STRs (2025) - https://rebrand.ly/28b1df Instagram – @kenny_bedwellYouTube – Cash Flow PositiveLinkedIn – Kenneth BedwellCash Flow Positive is an original podcast hosted by Kenny Bedwell. Brought to you by STR Insights. Production and editing by Podcast Your Brand.

MY NEWSLETTER - https://nikolas-newsletter-241a64.beehiiv.com/subscribeJoin me, Nik (https://x.com/CoFoundersNik), as I interview Malcolm Marshall (https://x.com/malcolmpools). Malcolm shares his incredible W2 to entrepreneur journey from a VP of Finance role at C4 Energy during its hyper-growth phase (from $8 million to $300 million!) to successfully scaling his business, Poolology, an $18 million pool construction and home services business in Central Texas. We dive into the surprising challenges of scaling businesses, the reality of bootstrapping, and how he navigated the shift from a W-2 to full-time entrepreneurship. You'll hear about the "aha!" moments, the hard-earned lessons, and what he would focus on if starting a new business today, especially in the promising field of AI infrastructure.Questions This Episode Answers:• How did Malcolm Marshall go from W2 to entrepreneur and scale his business, Poolology, from a small pool route to $18 million in revenue?• What were the biggest financial stressors and operational challenges during C4 Energy's hyper-growth?• Why did Malcolm leave a high-paying W-2 job with equity to start a small business?• How do pool construction and maintenance businesses acquire customers and what are their typical EBITDA margins?• If starting over, what industry would Malcolm focus on, and what's the most crucial lesson he learned about team building?Enjoy the conversation!__________________________Love it or hate it, I'd love your feedback.Please fill out this brief survey with your opinion or email me at nik@cofounders.com with your thoughts.__________________________MY NEWSLETTER: https://nikolas-newsletter-241a64.beehiiv.com/subscribeSpotify: https://tinyurl.com/5avyu98yApple: https://tinyurl.com/bdxbr284YouTube: https://tinyurl.com/nikonomicsYT__________________________This week we covered:00:00 From Corporate to Entrepreneurship: The Journey Begins02:40 Building Poolology: The Early Days and Growth Strategies05:53 Navigating Rapid Growth: Challenges and Lessons Learned08:47 The Transition to Construction: Expanding Services11:38 Marketing and Customer Acquisition: Strategies for Success15:01 Future Aspirations: Scaling and New Opportunities17:52 Reflections on the Journey: What Would You Change?

What does it really take to leave your W2 and build a life on your terms?In this episode, Brian sits down with Andrew Bennett to break down his journey from a stable corporate job to owning multiple businesses with his wife.Andrew shares why his first attempt at leaving his job failed, what changed the second time, and how a combination of pressure, vision, and environment finally pushed him to make the decision.They also walk through the deal that changed everything. A 12,000 sq ft building acquired with seller financing that is now being turned into a health and wellness center and café, something Andrew and his wife had talked about for years. This episode covers: Leaving your W2 and why timing is never perfect  Turning pressure and uncertainty into action  Why environment and proximity matter more than information  How Andrew structured his first major deal  The mindset shift from saving money to building wealth The biggest takeaway:Taking action changes everything.Curious as to how we've bought multiple businesses and built millions in equity? Give this video a watch for a full breakdown: https://www.youtube.com/watch?v=cviipnGtDWI&feature=youtu.beIf you are serious about building a life on your terms and want to surround yourself with people who are actually doing it, go to: https://actionacademy.com?el=action_academy_podcastIf you want to leave corporate America in the next 6-18 months - you should check out our Action Academy Community

She thought it had to be one or the other.Career or kids. No middle ground.Then her daughter was diagnosed with leukemia at three years old.And everything changed.Jane Ng left corporate America to care for her daughter full time. Her daughter survived — but was left with a brain injury that means she will never be fully independent. Jane will care for her for the rest of her life.So going back to a W2 was never an option.Instead she found real estate. Then short term rentals. Then co-hosting. Then a coaching business helping other moms do the same thing.Today she owns 4 STRs, co-hosts 11 properties, runs a coaching business — and is home every single day for her kids.Here's what she shared in this episode:→ How she bought her first out-of-state property for $50K while parked on the side of a road in New Orleans→ Why STRs are one of the most powerful tax savings tools for stay-at-home parents→ How she built a team that runs the whole operation — with just one weekly check-in call→ How she structures her week so she is never tied to her phone→ The mindset shift that stopped her from quitting when things got hard→ How she uses AI to find her next STR market before she even talks to a realtor→ Why hospitality — not just for guests but for cleaners, neighbors, and vendors — is her #1 secretThis episode is for every mom who thinks she has to choose.She doesn't.Connect with Jane:Instagram: @theinvestingmomYouTube: @theinvestingmomConnect with us:Free 6-step course for scaling STR operators: https://level.strsecrets.com/pc-book STR Secrets FB group: https://www.facebook.com/groups/STRentalsecretsTimestamps:0:00 - Intro4:10 - Introducing Jane Ng: The Investing Mom4:42 - How Jane's Daughter's Diagnosis Changed Her Life Forever6:21 - Why Going Back to a W2 Was Never an Option7:03 - Parked on the Side of a Road in New Orleans: The Moment Everything Changed8:20 - From Long-Term Rentals to STRs: The 1031 Exchange That Started It All9:18 - Why Her Daughter's Illness Made Her Braver in Business11:39 - The Middle Ground: How STRs Let Her Be a Mom and an Operator13:28 - The Identity Guilt That Holds Moms Back — and How to Get Past It15:10 - Her Morning Routine: Up at 5:30, Kids First, Business Second18:01 - Portfolio Overview: 4 Owned STRs, 11 Co-Hosted Properties, 3 Businesses18:25 - Why the STR Tax Loophole Is a Game Changer for Stay-at-Home Parents20:32 - How Co-Hosting Started: She Said No 6 Times Before Saying Yes22:06 - How She Built Her Social Presence as a Self-Described Introvert25:49 - How She Manages Everything: VA Structure, Weekly Check-Ins and Time Blocking28:07 - How She Structures Her Week to Never Feel Tied to Her Phone31:07 - Start Small: How to Build Good Habits Without Overwhelming Yourself36:46 - How She Uses AI to Find Her Next STR Market39:19 - Her #1 Secret to STR Success: Hospitality for Everyone

Most people think real estate tax benefits are slow — depreciation over 27.5 years and so on. But hospitality is a completely different beast. In this clip, Vinney Chopra breaks down how a $29.7M hotel renovation budget unlocks immediate bonus depreciation through FF&E (Furniture, Fixtures & Equipment), giving investors nearly 75% in first-year tax offsets. If you're a high-income earner — W2, business owner, or professional — this is one of the most powerful legal tax reduction strategies available today. Hospitality Investing Made Easy — now just $0.99 on Amazon for May.   Full Youtube episode here: https://youtu.be/MywuQl0x7yE  

In this episode of the Disciplined Traders Academy Podcast, we walk through how to stop treating the stock market like a hobby and start using it as a financial stability engine. This is especially for listeners aged 30–60 with strong W2 income or self‑employed business income who are ready to turn trading skills into long‑term security instead of short‑term thrills.Why your job or business income alone is not enough in a world of rising prices and long‑run inflation.The difference between using the market as a casino versus using it as a tool for financial stability and freedom.How to think in terms of real returns vs. inflation, and why cash sitting idle can lose purchasing power over time.What You'll Learn In This Episode:Why your job or business income alone is not enough in a world of rising prices and long‑run inflation.The difference between using the market as a casino versus using it as a tool for financial stability and freedom.How to think in terms of real returns vs. inflation, and why cash sitting idle can lose purchasing power over time.After you listen, take a few minutes to:Write down your specific “why” for using the markets as a stability engine.Decide on your trading account vs. long‑term account setup.Set a profit‑flow rule that automatically moves part of your trading gains into long‑term assets each week.If you're ready to design your own trading‑to‑stability system, like and subscribe to this podcast! There is also the DTA newsletter on Patreon - https://patreon.com/thedisciplinedtraderacademy?utm_medium=unknown&utm_source=join_link&utm_campaign=creatorshare_creator&utm_content=copyLink

On Monday the 24th of September 2018, an unnamed couple parked-up outside of Princethorpe House in Woodchester Square in Paddington, W2. The man was kidnapped, driven across London, and then in an unspecified bathroom on Fulham Palace Road, he was tortured using acid. But how did acid become the weapon of choice for many London gangs? Find out on Murder Mile.Location: Princethorpe House in Woodchester Square in Paddington, W2. Date/time: Monday the 24th of September 2018 at 9pm approxVictim: unnamedCulprit: Aston Rochester, Jamal Gordon-Harris, Rennell Rutty, Bradley Evans and Denzil RochesterSeven time nominated at the True Crime Awards, Independent Podcast Awards and the British Podcast Awards, Murder Mile is one of the best UK / British true crime podcasts covering only 20 square miles of West London. It is researched, written and performed by Michael of Murder Mile UK True Crime Podcast with the main musical themes written and performed by Erik Stein and Jon Boux of Cult With No Name and additional music, as used under the Creative Commons License 4.0. A full listing of tracks used and a full transcript for each episode is listed here and a legal disclaimer.CROSSED WIRES FESTIVAL: buy tickets to see myself, Paul & Stu at the Crossed Wires Festival in a show titled as ‘Always True Crime Takeover' on Sunday 5th July at 2pm - https://crossedwires.live/podcast/always-true-crime-takeoverLINK TO LUX ATRA, - a Polish podcast exploring stories of lives that ended too early, this is a link to it on SPOTIFYhttps://open.spotify.com/show/2DwSIdjVUJ3ujTLlniMYoA?si=EKsCgKuTTD6IwrHCJ1XGkwFollow me on SOCIAL MEDIA · Instagram· FaceBook· ThreadsSUBSCRIBE via PatreonSupport this show http://supporter.acast.com/murdermile. Hosted on Acast. See acast.com/privacy for more information.

Most advisors say they want to exit. What they actually want is to stop doing the parts they hate. Scott Danner has had this conversation more times than he can count. The advisor says they want to sell. Then the deal falls apart. Not because the numbers were wrong but because nobody asked the right question at the start. Scott is the Executive Vice President and Head of Legacy at Steward Partners. He founded Freedom Street Partners in 2016, built it to nearly $3.5 billion in AUM, and sold it to Steward Partners in late 2023. He started at Edward Jones with zero clients and cold called his way into the industry. That background gives him a credibility in this conversation that most people talking about M&A simply do not have. In this episode, Frank and Scott break down what is actually happening inside succession deals when they collapse, why M&A is the mechanism quietly solving the industry's age and talent problem and how the sell, stay and grow model gives advisors a way to monetize without disappearing. Scott also shares how Freedom Street Partners built a career ladder that next generation advisors could actually follow, what independence with infrastructure means at Steward Partners and why he believes advisors who dismiss a W2 model immediately are thinking too small.   Questions answered in this episode include: Why do sell and exit deals keep failing? What does M&A actually do for the long-term health of the financial advisory industry? What is the sell, stay and grow model and how does it work? How do you build a career ladder that next generation advisors will actually believe in? What does independence with infrastructure mean at Steward Partners? How can an advisor keep their brand and their clients while still monetizing their practice? Why should advisors think twice before ruling out a W2 model?   Chapters: 00:00 Intro and Scott Danner Background 02:53 Building From Scratch at Edward Jones 07:19 Why M&A is Saving the Industry 09:29 The Sell Stay and Grow Model 13:55 Building a Ladder for Next Gen Advisors 17:22 Independence With Infrastructure 26:11 Rethinking the W2 Model   Learn more about Elite and our resources: Elite Consulting Partners | Financial Advisor Transitions https://eliteconsultingpartners.com Elite Marketing Concepts | Marketing Services for Financial Advisors https://elitemarketingconcepts.com Elite Advisor Successions | Advisor Mergers and Acquisitions https://eliteadvisorsuccessions.com JEDI Database Solutions | Technology Solutions for Advisors https://jedidatabasesolutions.com Elite Wealth Management Insights Report https://eliteconsultingpartners.com/insight-report Listen to more Advisor Talk episodes https://eliteconsultingpartners.com/podcasts/

This episode is a masterclass in what it really looks like to build wealth while navigating real life. Aaron and Andrea share how they went from dual W2 incomes and a growing rental portfolio to raising $2.8M and developing a $13.4M residential assisted living project, all while raising three young kids and completely reinventing their financial future.They break down the exact moment they realized their current path would not get them where they wanted to go, why they walked away from “safe” strategies, and how they found an asset class that aligned with both their financial goals and personal mission. From building the right team and finding mentors to navigating a complex capital raise and overcoming major setbacks, this conversation pulls back the curtain on what it actually takes to operate at a higher level.If you have been thinking about making a bigger move, whether that is buying a business, scaling beyond rentals, or stepping into ownership, this episode will challenge how you think about risk, growth, and what is truly possible when you commit to a long-term vision.And if you're serious about replacing your 9–5 income with cash flow you actually own and control, go to www.actionacademy.comIf you want to leave corporate America in the next 6-18 months - you should check out our Action Academy Community

In Part Two of our financial deep dive with Vinny Cagungun, we tackle four of the most-requested topics from our listeners: debt payoff strategy, the real financial differences between W2 and 1099, tax planning for high-income CRNAs, and how to find the right advisors for your team. Vinny, Cole, and Tanner share their personal journeys — including what they'd do differently in hindsight — and break down practical frameworks like the three-bucket tax system, the 1.3x rule for comparing W2 to 1099 offers, and often-overlooked strategies like QBI deductions and self-directed 401(k)s. Whether you're a new grad staring down six figures of student loans or an experienced CRNA looking to level up your financial game, this episode delivers actionable insight at every stage. As Vinny says, clarity comes from doing — so take it one step at a time and enjoy the journey.Support the showTo access all of our content, download the CORE Anesthesia App available here on the App Store and here on Google Play. Want to connect? Check out our instagram or email us at info@coreanesthesia.com 

In this episode of Tax Tuesday, Anderson advisors Eliot Thomas, Esq., and Barley Bowler, CPA, tackle a packed lineup of listener questions covering construction business accounting, rental property depreciation, and family tax planning. They explain the pros and cons of switching from accrual to cash accounting, and when a SEP or Solo 401(k) can help reduce a tax bill before an extension deadline. They walk through how to claim a college student as a dependent even if the student earns grant income, and how hiring your kids through a C corporation can shift income and fund a Roth IRA. Eliot and Barley detail how the Ladybird enhanced life estate deed works in the five states that allow it, and how stepped-up basis applies at inheritance. They cover when a management corporation makes sense for short-term rental owners with W2 jobs, the real risk of children's working hours undermining a spouse's material participation, and how the aggregation election simplifies real estate professional status across multiple properties. Other topics include how to catch up missed depreciation using Form 3115, how to properly report an owner-financed note, and whether repairs and maintenance on a non-income-producing rental are deductible. Tune in for expert guidance on these topics and more! Submit your tax question to taxtuesday@andersonadvisors.com Highlights/Topics: 00:00 Intro to Tax Tuesday with Eliot and Barley 7:09 We file accrual; however, if I switch to cash, the tax bill will be lower. Is this a good idea? Is there anything I can do to lower 2025 taxes before my extension is due in September, like a SEP or retirement plan? - Cash basis is simpler; a SEP or Solo 401(k) can still be established. 16:16 My son gets some grant money from the University for his peer mentor role and research he does. He is a Junior and is 20 years old. Can I still list him as before as a dependent on my tax return? - Yes, if you provide more than half of his total annual support. 21:28 What are the tax ramifications of my brother and I inheriting my mom's home via a Ladybird (enhanced life estate) deed? - You receive stepped-up basis; rental or personal use rules then apply. 27:17 My husband and I both have W2 jobs. We have both long-term and short-term rentals. I manage the STRs. Does it make sense that I open an S Corporation as a management company? Is there an additional advantage to employing my teenage kids to help manage properties? - A C corporation management company maximizes tax-free reimbursement benefits for families. 39:00 We have a home management company (partnership). My spouse qualifies for REP status with no other job. Could he have both? Can you also elaborate on this: "Under §469, each rental property is treated as a separate activity. You must participate in each property. Not just your portfolio as a whole." - An aggregation election bundles all rentals to simplify material participation requirements significantly. 49:05 I have a single-family home rental. Depreciation was not taken on previous tax returns. How do I go back and calculate depreciation? -File Form 3115 to catch up all missed depreciation in one year. 53:50 How do I report the mortgage payment paid to me from my owner finance note? - Report interest received on Form 1098 and installment gain on Form 6252. 57:38 Can you write off expenses and maintenance costs for rentals that are not producing any income due to disrepair? - Yes, if the property remains available for rent or is temporarily out of service. Resources: Tax and Asset Protection Events https://andersonadvisors.com/real-estate-asset-protection-workshop-training/?utm_source=how-to-claim-missed-depreciation-on-a-rental-property%20&utm_medium=podcast Schedule Your FREE Consultation https://andersonadvisors.com/strategy-session/?utm_source=how-to-claim-missed-depreciation-on-a-rental-property%20&utm_medium=podcast Anderson Advisors https://andersonadvisors.com/ Toby Mathis YouTube https://www.youtube.com/@TobyMathis Toby Mathis TikTok https://www.tiktok.com/@tobymathisesq Clint Coons YouTube https://www.youtube.com/@ClintCoons

Jens Nielsen left a 25-year IT career and went from 40-unit goal to managing 2,700 units — here's the exact path he took to scale commercial real estate.In this episode of RealDealChat, Jack Hoss sits down with Jens Nielsen — a former IT professional turned commercial real estate investor and high-performance coach — to break down how he went from a linear 10-year plan to managing over 2,700 units across multifamily, industrial, and flex space.Jens covers:How he started with a fourplex for $115K and scaled from thereWhy he ditched single-family immediately and went straight to small multifamilyThe mindset shift that unlocked syndications and other people's moneyWhy he pivoted from apartments to industrial and flex space when rates roseHow the EOS (Entrepreneurial Operating System) helped him manage a vertically integrated property management companyThe bridge loan mistake he'll never repeat — and what he does insteadHow high-performance coaching helped him earn more in his first year out of his W2 than ever beforeWhy he believes we'll all wish we bought more real estate in 2026This one is for investors who are still thinking one deal at a time and need to see what happens when you stop thinking linearly.

Discover how one real estate entrepreneur scaled from a W2 employee at a Fortune 500 firm to managing $60M+ in commercial real estate assets—and why NOW is the best time to invest despite market uncertainty. In this episode of The Proven Entrepreneur Show, Wayne Courreges III, founder of CREi Partners, pulls back the curtain on the commercial real estate investment world. With 19 years of industry experience and a proven track record navigating multiple market cycles, Wayne shares his contrarian strategy for thriving when others are panicking.Key Topics Covered:The Hidden Truth About Today's Real Estate Market: Why soft commercial real estate markets are actually the BEST buying opportunities for informed investors. Office vacancies, rising refinancing costs, and panicked sellers create asymmetric opportunities for disciplined investors.Building Passive Income: The Multifamily Housing Model: Discover why Wayne's firm keeps 80% of its portfolio in multifamily housing (100-150 unit properties across Texas). Learn about the cash flow, depreciation benefits, and appreciation potential that make multifamily the most reliable real estate asset class.The 2-4 Deal Strategy That Changes Everything: Most real estate entrepreneurs fail by scaling too fast. Wayne explains why CREi Partners deliberately limits deals to 2-4 per year while continuously strengthening internal capabilities. This disciplined approach separates sustainable wealth builders from those who fade quietly.Leadership During Market Downturns: Real estate success isn't about luck—it's about leadership. Wayne reveals the RIDGE values (Respect, Integrity, Dependability, Grit, Execution) that have kept his team strong through market volatility. Learn how the best investors over-communicate, think partnership-first, and never blame external factors.From W2 Employee to Company Founder: The real, often-hidden struggles of leaving corporate life to build a real estate empire. Wayne discusses the genuine stress of entrepreneurship, the dopamine hit of quarterly investor distributions, and the long-term vision that sustains motivation.Why Education Comes First: Before raising capital or closing deals, accredited investors need to understand what they're actually buying. Wayne's free Passive Investor Coaching program (passiveinvestorcoaching.com) represents his philosophy: educate first, sell second.Why This Episode Matters:Whether you're an accredited investor exploring alternatives to the stock market, a business owner seeking passive income diversification, or simply curious about how wealthy people build wealth, this conversation delivers actionable insights from someone who has actually done it—across multiple market cycles, in a real company, with real investors.Guest Bio:Wayne Courreges III is the founder and principal of CREi Partners, a commercial real estate investment firm specializing in accredited investor opportunities. With 19 years in the industry (including 16 years at CBRE, a Fortune 500 leader), Wayne has become an expert in multifamily housing, development, and navigating complex real estate cycles. He's an Eagle Scout, former Marine, and passionate advocate for investor education. CREi Partners currently manages $60+ million in assets across multifamily properties and development projects primarily in Texas.Perfect For:✓ Accredited investors seeking passive real estate opportunities✓ Entrepreneurs building multi-income streams✓ Real estate professionals exploring new strategies✓ Business leaders interested in wealth diversification✓ Anyone curious about commercial real estate in 2025

Every firm says they have great culture. Very few can back it up. Raymond James can. And in this episode, they explain exactly how. Frank LaRosa sits down with Jodi Perry, Head of Advisor Recruitment and Business Development and Todd Ferguson, Chief Information and Security Officer at Raymond James, for a wide ranging conversation recorded live at the Ignite Conference. The group breaks down what it really means to put the advisor in the driver's seat, why the freedom versus independence distinction matters more than most advisors realize and how Raymond James has been doing for 25 years what other firms are only now starting to talk about, including putting the advisor's ownership of their business in writing through the Advisor Bill of Rights. The conversation also gets into AI and technology in a way you will not hear anywhere else. The group breaks down how Raymond James is investing $1 billion in technology to give advisors more time for the relationship side of the business, how their opportunities platform surfaces client service gaps before they become problems and what every advisor needs to know about protecting their clients from bad actors and digital fraud in today's environment.   Questions answered in this episode include: Why is Raymond James a strong option for financial advisors right now regardless of where they are in their career? What is the difference between freedom and independence at Raymond James? What is the Advisor Bill of Rights and why does no other W2 firm offer it? How is Raymond James investing $1 billion in technology to help advisors grow their practices? Will AI reduce headcount in an advisory practice or expand its capacity? What should advisors do right now to protect their clients from bad actors and digital fraud? How does Raymond James approach advisor recruiting differently from other firms?   Chapters: 01:02 – Welcome: Ignite Conference Edition with Jodi Perry and Todd Ferguson 02:03 – Why Raymond James Now: Flexibility Across Every Stage of an Advisor's Career 03:38 – Culture Is Experiential: What That Really Means at Raymond James 05:31 – Freedom vs Independence: Why W2 at Raymond James Is Different 08:29 – The Advisor Bill of Rights: Putting Ownership in Writing 10:46 – AI and Technology: How Raymond James Is Using a $1 Billion Investment 15:57 – Bad Actors and Cybersecurity: What Every Advisor Needs to Know 25:20 – Quality Over Quantity: How Raymond James Thinks About Growth   Learn more about Elite and our resources: Elite Consulting Partners | Financial Advisor Transitions https://eliteconsultingpartners.com Elite Marketing Concepts | Marketing Services for Financial Advisors https://elitemarketingconcepts.com Elite Advisor Successions | Advisor Mergers and Acquisitions https://eliteadvisorsuccessions.com JEDI Database Solutions | Technology Solutions for Advisors https://jedidatabasesolutions.com Elite Wealth Management Insights Report https://eliteconsultingpartners.com/insight-report Listen to more Advisor Talk episodes https://eliteconsultingpartners.com/podcasts/

Losing a job can feel like the end, but for Niccolo Fazio, it was just the beginning. In this episode, Niccolo shares how he went from $0 to building a 7-figure business, breaking down his journey, strategies, and mindset shifts that made it possible. Niccolo shares how he went from losing his W2 to financial success, breaking down the key decisions, strategies, and mindset shifts that made it possible. If you're ready to take control of your financial future and scale your business be sure to check out TTP Training Program now!---------Show notes:(0:50) Beginning of today's episode(1:30) What is the greatest thing that happened to him professionally?(5:13) What is his average deal size?(6:37) Getting a dropping price(12:07) Is he assigning deals or double escrowing them?(17:20) How do they find their deals?(18:08) How do they build their brand and get loud?(25:37) Invest in places you want to be in and leverage your assets----------Resources:BatchleadsFazio Real Estate SolutionsFollow Nicco here or call him at: (314) 702 - 3313To speak with Brent or one of our other expert coaches call (281) 835-4201 or schedule your free discovery call here to learn about our mentorship programs and become part of the TribeGo to Wholesalingincgroup.com to become part of one of the fastest growing Facebook communities in the Wholesaling space. Get all of your burning Wholesaling questions answered, gain access to JV partnerships, and connect with other "success minded" Rhinos in the community.It's 100% free to join. The opportunities in this community  are endless, what are you waiting for?

Tax Day is right around the corner, and tax strategist Karlton Dennis is here to make sure you don't leave a single dollar on the table. Today he breaks down the legal loopholes that you can still take advantage of before the filing deadline and the long-game moves that can keep thousands in your pocket. Nicole and Karlton cover tax strategies for both W2 employees and entrepreneurs, how parents can use the tax code to build wealth for their kids and new deductions from the Big, Beautiful Bill that you should definitely be taking advantage of. Plus, Nicole and Karlton break down viral hacks like the Range Rover write-off, the Augusta Rule that lets you pay yourself tax-free, short-term rental deductions, and putting your kids on payroll.  Check out Nicole's financial literacy course The Money School  Find a Financial Advisor or Financial Coach from Nicole's company Private Wealth Collective Watch video clips from the pod on Money Rehab's Instagram and Nicole Lapin's Instagram Follow Karlton on Instagram and YouTube Work with Karlton Here's what Nicole covers with Karlton:  00:00 Are You Ready for Some Money Rehab?  02:00 Last-Minute Tax Moves Before the Filing Deadline  02:38 Bonus Depreciation and the Big Beautiful Bill  03:26 The Range Rover Write-Off: How the Math Actually Works  05:26 The Best Part of the Tax Code for Entrepreneurs  07:26 How Karlton Writes Off Clothing 08:38 When Should a Side Hustler Set Up an LLC?  10:45 IRS Red Flags  12:01 What Actually Happens During an IRS Audit  13:28 Why Karlton Thinks of the IRS Like a Dentist  15:09 How to Pay 0% in Income Taxes (And Why That's Not Always the Goal)  17:00 How Elon and Trump Avoid Taxes 18:02 Short-Term Rentals 101 25:35 The Augusta Rule: Pay Yourself $28K Tax-Free  28:28 Why Karlton Is Obsessed with S-Corps  30:19 The QBI Deduction and How to Maximize It  31:26 What to Think About When Forming an Entity  36:35 QSBS: The Exit Strategy That Could Save You $40M in Taxes  40:38 How to Make Your Kids Millionaires   44:53 The Backdoor Roth IRA Explained  46:10 Self-Directed Roths and the Peter Thiel Strategy  49:29 How to Get Tax Breaks for Watching Movies  53:36 The Tax Scam to Avoid Right Now: Charitable LLCs  55:27 Why AI Is Not Your Tax Advisor  50:07 Karlton's Tip You Can Take Straight to the Bank All investing involves risk, including loss of principal. This episode is for informational purposes only and does not constitute financial, investment, or legal advice. Always consult a licensed professional before making financial decisions.