This content was created by Mark Evans DM. This content was uploaded by Mark Evans DM. This is a YouTube video titled "How My Friend is Up To His Ears in 'DEEP' Debt | How Much Debt Can You Handle? w/ Mark Evans DM" created on August 14, 2020. It features a monologue by Mark Evans DM discussing financial advice on managing debt, differentiating between good and bad debt, and strategies for turning liabilities into assets.
Chapters
Wait, Mark, so tell me more about like that one dude, that guy that you said is like up to his ears in debt. What was it, like, like 37, 000 or something? Like, holy GS at 31 years old, man. Mark. Yeah. He hit me up on the phone. He's like, dude, I'm up to debt in my, I'm up to debt in my ears, up the ears of my dad or however you said it. And I started laughing at him. He's like, what? What's going on? I was like, dude, dude, listen, the problem is you don't know how to make money. That's the real problem. Secondly, $37,000 is not a lot of money at all. You got to learn how to make money. Not Only that, your $37,000 in debt is all junk stuff that you buy. See, when my, me and my buddies are buying stuff with debt, we're buying assets that produce revenue. I know guys that have 4, 500, $800 million in debt, but the thing is, they're producing millions of dollars a month and revenue. See, it's a difference. It's understanding how to manage debt, how to manage flow, how to get out of your own way. Not only that, you're 31 years old. Dude, you got to figure this out. The truth is, most people never figure it out, but 37 grand in debt's nothing. The good news is, is you can get this paid off real quick with a couple deals down the street, make some money, build a business or whatever and start chipping away at that debt. But you got to start thinking about debt in a better way. You got to look at debt. You got to reverse engineer the debt conversation with yourself and understand how it really works that can serve you actually instead of hurt you. And most, most people actually are being hurt by debt. Not because I know a lot of people have debt, but like bad debt is bad debt, good debt is good debt. You just got to know, turn your liabilities into assets. How do you use your debt to buy an asset to produce cash flow? That's really what you're really asking. You're not up to debt. Like you're one deal away from being debt free if that's the case. But. But the problem is if you don't learn the trick I'm sharing with you about good debt and bad debt, you're going to be right back in the same position, probably worse off position because you're older and now you know better. Don't make the bad decisions. You got this.
