LIVE Q&A Fridays! Ask Me Anything!|Cigars and Coffee w/ TheDM! EP.027

Hey, it's Friday. Hope you guys doing amazing. We're gonna start here in a second as we got people coming on. If you have questions, today's the day to ask them if it's about marketing, business, structuring, whatever it is. Q and A today, weekly recap. Hey, Beacon, if you could do me a favor. What's the last four shows we did? Monday, Tuesday, Wednesday, Thursday, obviously. Yesterday was financial ptsd. I know. We talked about Dream Team also we talked about what else did we talk about? Commitment. So yeah, if you could just talk, maybe we'll do a little quick recap here. It's Friday. Good morning, Kendra. What's up, guys? It's a groggy Friday. It's a little dreary out here. Rainy. I got my workout done and the pouring down rain, but it's done. I actually like it. I don't know about you guys, but like when I'm working out, I kind of like it to be like, hard. I actually enjoy watching people not work out when so, like, if it's nice out, it's easy when it's easy. Just like in business, right? It's easy when it's easy. But I always like going out there and seeing, you know, when it's pouring down rain or freezing cold or whatever. If you guys followed me last year on the journey, I mean, I was in hell storms, snowstorm. It was insane. And I'm out there working out and I loved it. I actually couldn't wait for it. I would actually position. I would wait for it to get even worse out to go out. Because I knew most people won't go out and work out during those moments. So I kind of like the hard stuff. What's up, Paul? What's up, Dylan? What's up, guys? What's up, Bradley? What's up, John? Good morning. Good morning, Rob. So today, if you have Q and A, I know we got a lot of stuff. I actually did a post yesterday on Instagram asking about questions and let me just pull this up here. Not. Not ignoring you guys. I'm just pulling up my stuff here. Let's see Q and A, see what we got here. Please keep inspiring. Thank you. Okay, T's asking T Swarth backup plans. Plan B. Should you have an exit route or. No. Why and why not? Well, in regards to business and life, I don't have a plan B. It's not like if me and my wife get a divorce, I got a side plan B to take care of anything. In business, it's the same thing. If you're not all in and committed, by the way, if you have a plan B, you're not committed. I only have plan A. As you guys know, I've never had a W2 job my entire life. I've always been to 1099, work for it. If you don't kill it, you don't eat kind of thing. So I've never had a plan B. Now with that said, I am strategic about growth though, and pushing the boundaries. You know, I'm not going to go out there and just be reckless. If I make 10 grand and I'll just go throw 10 grand on double zeros at the casino or on a marketing strategy, you don't know if it works or not, I'm going to take a percentage of my revenue. I'm going to put it into this path. That path, that path. What I'm trying to do is unlock different opportunities internally. So as for plan B, I don't have plan Bs. I don't really operate that way. Some people may. I've never. I don't know many people. Actually. I don't know anybody that's ultra successful that has plan Bs. They're like, dude, I can barely handle plan A. Let's just keep it clean. I can barely handle plan A. So that's for me. I'm not doing the art auction this year. Someone's asking about art piece. Where can someone get more information about your mastermind? Guys, I have a mastermind group called the dealmaker family. The DM fam. It's 33 guys. They each pay 35 grand a year. We meet up. Excuse me. Once outside of the country once a year. Last year was cool. We did it over at the Ritz in St. Thomas where we actually meet up. We sit around the table. The room is insane. I mean everyone. It's a high level. We're just talking, strategizing. A lot of times, people, here's what, here's what's interesting to me. A lot of reason, a lot of people. The reason you're not where you want to be is because you're looking for a structure. You're looking for step A, B and C and D. My DM Family. I don't talk about A, B, C and D. We don't talk about that. It's not even our thoughts. We're all business guys running businesses. So what we're talking about is more high level thinking because the answers are all there. Guys. You guys know you can go and YouTube and find any answer you Want right on Google. So the answers are there for the micro stuff, but the problem is never the answer. The problem is the person asking the question. It's easy to find the answer when it's like, hey, how do I wholesale real estate shit that's easy to find, Go online, type it in, you'll find 10 million people talking about it. But the real question is, the deeper question is how do I build a wholesale business then generates 50 to 100,000amonth without me actually doing any of the work? That's a different question. It's going to require a way different thought process. It's going to require a different person pushing the boundaries. And that's what you have to get better at is asking better questions. So in the DM family, you know, it's, you know, I actually, I think we have a waiting list. I don't really, I don't put a lot of people in there. It's like I said, churn rate's not that much. We do have a couple people a year that we push in and out, but other than that, man, it's a brotherhood. We've got guys in there that's been in there since conception. I look at these guys as my best friends, honestly, in the DM fam. I care about them, I think about them. I want them to do well. I've invested many millions of dollars with all those guys and deals and vice versa. We've all done deals together pretty much on the most part. And it's not just real estate, by the way. It's not just a real estate mastermind. It's a business mastermind. Just happens. Real estate's a big piece of it. I have guys in there that own 2500 units. I. I have guys that in there that own $10 million roofing companies. I have guys that own multimillion dollar media companies. I have guys in there that own multimillion dollar Facebook ad agencies. We have different types of people in there. So it's a really exciting group. And the truth is I love them. It gets me excited. But again, if you're following me, I talked about this a couple days ago. If you're looking at me like, oh my God. If you're like an entrepreneur and you do mark makes his 33 people paying him 35,000 a year. Oh, my God. It's over a million dollars. Well, it is over a million dollars, but the problem with that is it's not scalable, it's not sellable, and it takes a lot of time to do it. Right. I spend hours a day on that business and I call it a business. It's not even a business because it's not sellable, not scalable. Only businesses that are sellable and scalable should be called businesses. This is a passion project for me for impact. I truly do love helping the right people. It's my favorite thing I get to do. I'm laying in bed thinking about them. I'm getting up thinking about them. I'm prodding, I'm pushing. They actually push me out of my comfort zone because I want to come back to them with raw data of the good, the bad, the ugly, and everything in between. Thank you. And all that good stuff. So that at the end of the day, it's like, find an environment that forces you to become a better person. That's what I'm looking for to do and that's what the DM family is for me. I genuinely want to be a better person for them. I want to lead by example. We don't theorize in there. We're not talking about theory. Recently we just had a guy, Mike, I think it was two days ago. He messaged me because I talked to him on Saturday and he had these mental blocks and we pushed, navigated him through it. His life and business will never be the same. It's going to be forever be changed in a positive way. He will literally be able to print money on demand whenever he wants by simply sending an email. He will be able to get on the phone and be able to close a deal like it's the easiest thing he's ever done because the way he's positioned and he's been set free, I believe it's the best $35,000 he could have spent. I know it is because I wish my group existed when I was starting up. I wish my group existed when I was in there. Another guy, Matt, you know, within the, within six months, he generated from a newfound revenue stream that we talked about. He generated over $350,000. He will do over a million dollars this year with a brand new strategy. Brand new. That is a scalable, sellable business he's building. He's just got a dialed in. He's working on some cool things now, but like it all. And by the way, we're not saying no one's working in here. We're all working. And I'm telling you, we're just asking different questions, folks. That's the only difference, I promise you. What's up, Tim? What's up, Leanne? What's Up, Alice. I hope you guys are doing amazing. Excuse me. What are you doing to keep your head right during COVID 19 and the impacts it has mentally? Well, truthfully, it has no impacts on me mentally at all. And I'm not saying that to be a dick. I hope it doesn't sound cold. My life has truly not changed much at all. I'm still gonna fly back to Ohio at the same time. Beacon, what are you doing? Trying to get a headshot up there, man. Trying to show the girls what you're up to. But, you know, at the end, so, like, I'm working in the garage. I do that already. I work at the house. I'm here already all day, every day anyways. So truthfully, my life has not really changed at all. So mentally, the biggest thing I've been doing during this whole Covid stuff, it's more leadership stuff. It's more asking myself that straight up, guys, I'm making more money than I've ever made my life in the last 60 days. It's been big. It's been real big. Even with the losses, it's been big. We've started. We have multiple companies we've acquired. I've hired many people. Yesterday I shared another one. We just hired Eric with a Y. We just hired him. It starts Monday. My team. And again, these. And we'll talk about the Eric hire because that's an interesting process that's happening with hiring now in my companies. But the truth is, like, I mean, we're. We're killing it, you know? And not to say other companies aren't having some hiccups, but I don't look at business as a micro moment. I look at business for the long haul. See, like, the problem is a lot of people can't keep their head up because they don't have any money to keep their head up. They don't have any money in the pipeline to keep the wheels rolling. The goal with any kind of, like, recession or what we're talking about COVID here, the goal is how much cash do you have to outlast the situation? So if you have a big Runway of cash, you know, the problem is really not the problem. I got to be honest with you guys. The way I created all my cash and still do, if shit hits the fan and I need money, I don't stop spending money. I actually start looking to invest money to recover my cash. Like, that's the best way. Yesterday, I shared the post about $65,000 loss. I don't. My financial PTSD isn't, stop, hold everything. Let's figure this out. It's like, shit, how much I have in the bank. Where am I? Okay, let's go invest in something to get some money back. I need cash back. I need more money coming in. You know what I mean? So these are the kind of things I'm thinking about and more importantly doing so. You know, there truly is a lot of opportunity out there. But. But again, I'm just trying to be a better leader. I'm trying to acquire. I'm actually in negotiations on a big company right now. I'm trying to acquire, but the guy keeps like talking. Here's how I know it might not be as good as deal. He's talking too much. He said he's using numbers as the front leader. Too much. And what I know in business, that people, all they do is talk about their numbers. Their numbers are. They're full of shit. They're lying to you 100%, not 99%, 100%. They're lying to you on the details. I promise you. I promise you. I know I've bought many, many companies and every time I avoid this conversation with them or don't have it, initially I didn't have it because I didn't know. But like anytime, like they're. I pay attention to how people act. If they're like numbers, numbers. Like, dude, this thing's making $140,000 a day. It's making $5,000 an hour. It's making. Dude, come on. I'm not buying a business for 5,000 bucks a minute. And this and that. And not only that, I love the people that says based on performance, it looks like we're going to hit five GS a day. And if at five GS a day times 30 days is one point. Dude, that's Mickey Mouse math. That ain't real math. And what does it even mean? Let's say it does make 5,000 a day. That'd be awesome, right? Well, maybe. I've had companies where I make way more than 5,000 a day, but it's losing money every day. So what does the operations look like? What does the team look like? What does the process look like? What is the upside? What's the downside? What, what's the time commitment? See, people forget to talk about all that stuff. It's not sexy. You know, everyone gets a hard on with numbers. Like, dude, I can make 53% on my money. What? Well, not really. Just a fun fact. The higher the return, the more the risk Typically, and I'm talking on a passive side, not necessarily on the individual side. Because if you understand business, let's say if I understand a real estate deal, I can buy for 100,000, house I buy for 50, it's easy to make a big return on that because I'm doing the work, I'm in the game, I have specialized knowledge, if you will. But if I'm handing you the money and saying, here's a hundred grand, pay me 25% of my money, you're probably not going to get it. And if you do, it's gonna be a little choppy, you know, there's gonna be a reason there have to pay you that much. But typically when I'm loaning my money out, I'm at 12 to 18% plus I get a percentage of the back end. Always my money is too expensive to loan out because I take it and put in my own deal. So that's why I don't really loan out a whole lot. Unless you're in the DM family. I do do some deals in there. So I'm just trying to be a better leader, man. That's what I'm doing. Hey, what financial changes have you made to preserve your wealth and protect it? Well, I mean I'm big in insurance policies. I like the infinite banking concept. I have whole life policies. I have indexed universal life policies. My goal. I don't need like, you know, so I like to talk about money and I'm not talking about it to brag or things like that. But I think people avoid these conversations because it's weird. But I'm thinking more, how do I have a hundred thousand dollars when I a month coming in tax free through these policies. Right now it's designed to 50,000amonth. I want to get it to 100,000amonth. So I got to add more money to do that. At my age, it costs about 250 to $300,000 a year. You got to park in these environments. That doesn't mean you park the money and you can't touch it. There's different strategies that I could park the money, go borrow from here, pull from here, do that, do this and have have it creating multiple streams of revenue with the same dollar. So that's the infinite banking concept. If you don't know about it, you should. If there was one thing I wish I would have done earlier in my life was definitely been buying index universal life policies from the right people. That's the disclaimer. I did buy a policy, a Whole life policy. It cost me 35, 38 grand a year. And the guy was pulling out all his profits out of the contract, out of the front end. So there's ways that. It's called blended rate. Blending your rate across the 10 years because that's a 10 year pay. It's actually more than that because 647,000 for the 10 years, but so he was able to like the first three years able to pull out all his commissions. And it's a lot. These guys make a lot of money on these commissions when they set these big policies up. So there's ways around that, not, not around it, but there's ways to, to maximize your dollars in these policies. And that's called blended rates. You know, blend your rates out throughout the 10 years or whatever. So you're not just all compound interest effect. Hey, what's up, Matt? Michael. Matt's good. Connor, what's up, buddy? It's exactly my goal. Build a wholesale business that generates 50k month without me in the day to day. Keep the best units and wholesalers. It's. Connor, I don't know what market you're in, but to do that is fairly simple. And I think more people should be trying to do it because the truth is most people are trying to make 500 grand a month and they can't even keep their electric on. What's up, Darrell? So guys, if you have questions in here as well, I'd love to answer them. I know I'm just talking here, but so my financial stuff, yeah, if I was younger, I wish, I wish. The only thing I wish I would have done is buy more policies. What's up, Jamal? What's up, Connor? I wish I would bought more policies, parked more money, acted like it was never there and then I'd have 500 grand a month coming in tax free at 60 years old. It's doable. I know people doing it. I'm doing it. Not 500 grand a year, month yet, but on the policies. But you're parking this money in these cool concepts. It's very, very, very intriguing and interesting. But my financial channel, like, listen, you guys see all the cool flashy stuff. Maybe, maybe you think I have a crazy financial life. I do spend a lot of money every month on my life. But like it's not percentage wise of what I earn. It's very little. I mean, you know what I mean? So it's interesting to me, people that make four grand a month, they might be spending 3,900amonth to have that Life, you know, I can tell you My percentages are 3% of what I earn. I mean, it's. It's very low. It's very, very low. So I'd be like, if you made four grand, you spent 120 bucks a month to live. You know, to put it in perspective, it's all relative. It's all perspective. I'm not out there, wound out at the clubs like I used to back in the day, spending 30, 50 grand a night, you know, or whatever we were doing, it was stupid. It was such a waste when I was young. It's just silly. There's a lot of opportunity with money. You guys gotta understand, I had a terrible relationship with money. I never had a financial mentor when I was young. That's why I almost went bankrupt twice. I was cocky, I was arrogant. I didn't understand what a P and L was. I didn't understand KPIs. I just knew I could make money and I would do whatever to do make it. I was hustling deals. I was doing the work. I wasn't afraid of it. I just wanted more. And the problem is I'd get more. I'd put. I'd do more. I'd waste it. I would just keep wasting the money. What's up, Kevin? So money is a very interesting tool. You know, it is a tool, by the way. What's up, Joe? I was the tool inside the tool, though, at that point in my life. So my financial changes. Honestly, man, I'm stacking up. I'm investing in people. I'm investing in companies. We've. We're hiring people. I think we hired three people this week. I'm looking to hire a website person. I got a couple conversations going on there. I'm working with John. It's helping me on my manual for Magician versus Mule. I have two new books I'm working on in my brain that'll be working with Matt, by the way. Guys, you know, another thing I would do. Someone's asking here, like, what's one thing I wish I'd have done quicker, too? Honestly, man, the thing I wish I would have done is write a book quicker. I wrote my first book in 2006. November 21, 2006, the book came out. I wish I'd wrote the book earlier. My first book was not written. My first book was six or eight, Seven Conversations, Transcribed, Edited, Cleaned up and published. And that was my book. It's called Real Estate Investing. What was it called? Real Estate Investors the Secrets. The Secrets of Real Estate Investing. Or something like that. And I had Kendra Todd that won The Apprentice. Frank McKinney at builds $50 million spec homes. Michael Gerber with E. Myth. And I was interviewing all these guys. I was having these conversations behind the scenes all the time. So I was like, hey, can we record this? I'd like to use it maybe in the future. And I never knew what I was going to do, but this is through my wife and I's travels. I was sitting in. What was that? Poconos Mountain, Pennsylvania. We're sitting in this awesome cabin. I remember playing his day and I was like, I'm going to turn these audios into a book. And I'm like, what? Because I don't want to write a book. I'm not a writer. I. I can barely. I don't know the difference between there, there, and there. So, you know, the truth is I was like, I'm going to turn this into a book. And that's what I did. Within three months, I literally went to Barnes and Noble. I bought this book, how to Publish youh Own Book or something. It's at my office here in Palm beach, actually. It's all marked up. It's exactly how I published my first book. And within three months, I had my first book out. I hit number one bestseller. We sold thousands of copies. It still sells today, which is insane. And, you know, it's a great, great lesson. You don't have to get it right. Just get it going. But if you. If you. If I had 10 grand, that's how much it cost to do a book the right way with my guy Matt, Mike Fallip, I'd send him 10 grand. And you'll have a book within 60 days, and it'll be amazing. The Magician vs. Mule come from Mike Fallot. Him and I did a bunch of interviews. We did a bunch of editing back and forth, and that's what the book came from. So, you know, he's very amazing at interviewing people to extract the data, to help the reader understand what's going on and navigate it. Hey, Tyrone. Morning, Mark. Just got the book last night. Can't wait to read it this weekend and then put the review on Amazon. Thank you. My man, Mike. They're grateful for these mornings. Thank you, Domenico. Good morning, boss. Today's gonna be a great day. Yes, sir. So, any other questions? We have a lot. I have a couple more questions here. Whoops. What thoughts keep you up at night during and post Corona as it relates to your business? What thoughts keep me up. First of all, you guys have you guys, the biggest, the questions I'm getting about business, I'm not. I don't stay up about business. I stay up about family. I step out my life, I know I'm gonna die. And that's what keeps me up at night. I don't want to go to sleep, shit, I might not wake up, right? So that's the truth. That's what keeps me up at night. Want to. My businesses don't keep me up. Honestly, I'm trying to think, I'm not trying to be silly here like you know, my business. What I've, here's, here's why the biggest thing I've realized my business is not my identity. My identity is me. I just own businesses. So I'm thinking about how to be a better mark than a better business. Like the business is nothing. It's like whatever I could take, I could take my same skills and go do anything I want. That's not, you know, what keeps me up at night is how do I become a better person? How do I be a better listener, how do I be a better leader? How can I get more money to make a bigger impact? What charities am I going to work on? Who am I working on it with? You know, hey, am I, am I being conscious with my family when they're around, when I'm working? That's the stuff that keeps me up at night. I'm actually, my books are keeping me up at night. Like by the way, when I'm writing these books and paying 10 grand to Mike, I don't take a penny from these books that 100% of the profits go to charity. So I'm like spending money to get the books to your guys hands and hopefully making an impact in your life and then also the charity's life. I call it full circle giving. So hey, read the book. Great stuff. I have my 21 year olds. Awesome Matt. Thank you buddy. Hey, these morning sessions are wicked awesome, Mark. Thank you sir, Appreciate it. What's up John? What's up Joe? So for me, what keeps me up at night, what space or industry are you doubling down on in the next 6 to 12 months? Good morning brother. What's up Steve? Honestly man, I love the E Comm media space. You know, real estate to me is like whatever. I've been talking about real estate like whatever for a long time. So real estate's just, Real estate's just a tool. It's just a stepping stone to get to what you want. I love real estate as a great equalizer of dummies it's an amazing, like anybody can do real estate. Anybody. Again, it's not risky. If you explain the risk and buying a hundred thousand dollar house for 50 grand, what's the risk? Well, where the risk starts happening is when you start hiring people and you start letting go of the reins and you start rehabbing. And then now project management gets out of hand and then projects go over budget. That's where all these risk tolerance things start happening. But on a very simple level, real estate's by far the easiest place to make money. That's why most people don't do it though, because it's so easy they think there has to be something else. It can't be that easy. Well, the truth is, it is. And then we as humans, we overcomplicate it and then turn it into a big monster. I'm talking about myself, by the way. So I think that's E Comm Man. Dude, listen, I. You guys got to realize I was 1996 when I started real estate. The Internet did not exist like it does. The e commerce world does not exist. I truly believe Jeff Bezos will be the first trillionaire. I truly believe it 100%. If anybody could do it, Tim, he's on pace. I know everyone's like, dude, real estate's, you know, help created more millionaires than anything. Well, that's true, but did E Com exist when that happened? I know more young e comm millionaires than I do real estate millionaires at a young age. What that means is these young guys are going to be older with more money. You know what I mean? Real estate to me is not necessarily. It's more of a wealth, a piece where you can actually hold your wealth and get some good tax depreciation and you know, hand it off the money to other operators and allow them to do what they're great at. So if you're ever trying to raise private money, any of you guys listening know that it's not about like the huge returns, it's about protection of money, making it easy and just giving me a good, solid, consistent return on my money. I'm busy, you guys understand? We're busy. I'm trying to run this rocket ship, the Mark Evans rocket ship. Then all of a sudden now you're like, hey, let's do real estate. Hey, I want to do this. Hey, wanna do this. Like, dude, now you're. You're trying to fly 16 rocket ships that's bound to have mastered massive destruction disasters in the making. So I think at the end of the day, depending on what you're trying to do. But I'm 100%, I'm doing this right now. I'm doubling down big in the media space. I'm hiring heavy over there. We're adding massive amounts of assets. I'm looking to acquire, to grow as well. Got a couple deals in negotiations with that. Secondly, I'm going big in partnering with people. If you're in the real estate space, wholesale space in particular, I'm looking to partner with you. There's some guys actually you're following. I like that side of it. Christian runs that side on the day to day, you know, I'm looking to dial that in. I know pbcmo with Peter's running that where they're trying to like, we want to be like a great lead generation company for the real estate investment space and then put these two together and help them grow. Like, it genuinely is like something I know works because we do it. It's just getting people understanding how the KPIs work. And so it comes like with a lot of education. So my goal is not to have a million people in the funnel. My goal is to have a high quality hundred people, people we can roll with, die with, make money with, grow with, hang out and do family vacations with. These are guys and gals I want to grow with, man. And I'm not the guy who wants to be on stage talking to 5 million people. I don't care about that. And I'm not the guy even. I don't even need my name on the check, Just send the wire. I don't, you know, I'm past the ego stages. I just want to live a life and be a great person. That's the truth. And there's a lot of different ways to go about that. And I think a lot of people are chasing the money. I know when this guy's asking the question like, what keeps me up at night in my business? My business is not me. And I think when you can really truly separate both of them, you'll have a lot better quality of life. What's up, Kelly? Kelly's one of the. She's the. She's the machine over there. Yes. Last week she popped off some real numbers, which is awesome. Congratulations, Kelly. I owe you a call. I called you and then you called me back, but I'll call you back. I got you today. But yeah, guys, it's a. There's so much opportunity and you gotta like, gotta be you. Like, I think a lot of people are trying to like, do things because of money. Don't do things. I want more money, but I'm not doing it because of the money. I'm doing it because it's what I want to do. It fits in with my, my, where I'm at, where I want to go, then that's kind of like the. You gotta find that happy medium for you. I'm lifestyle design first though. Let's just be clear on that. There's no, there's no amount of money that is gonna have me not hang out with my family. And there's a lot of people maybe even watching this. It's asked me to come speak at their events or ask me to come get on their podcast show. But you got to be present. I'm like, dude, I just don't do it. Well, we'll pay you this or I'll do that. No, I'm not, I'm not in. Because now I have to leave my family or take them with me. And then, you know, if you're on the west coast, I mean, you're losing two, three days. Like, I look at time differently, man. Time is very precious to me and it's. We all are going to die. So a lot of people out there acting like they're not going to. And not only that, I have a five, almost a five year old boy and a one year old daughter. Like, dude, I know for a fact at 13, 12, 10 to 13 years old, whatever age, they become like, dad's a weirdo. Like, dad, leave me alone. So I only got like a small amount of time with these kids, why they think their dad's cool. I can mold them, I can help them. And then there's gonna be that moment where they don't want to hang out with me. So I'm gonna, Then I could do different stuff, right? In my business, in my life. And then when they turn 15, 16, 18, whatever, and then they leave the house. Now all of a sudden, me, Dina, and my life might look a lot different with what I want to do in business. And I think that's what people don't realize. Like, I plot this stuff out, dude. I make a plan and I execute the plan. You know, like, hey, I'm buying a jet at this age. Here's why, here's when, here's how, here's what it looks like. Like, I know how much it costs, I know how much it costs to run, maintain, how many pilots, what do you do? Like, I have all that shit dialed in. A lot of you guys out there Saying you want stuff, but you don't even know what it takes to get it. You know, time goes by fast. Too fast. Absolutely, man. So you got to plan the life and execute the plan. Too many of you bouncing around. Not to say you won't adjust the plan. It's not like you can't adjust it. Like, I do have, like, you know, hey, we're working on some new houses. We're working on possibly building, me and D in Ohio. We've been talking about it. Like, there's different things we're doing. Hey, buy the piece of land, build the house around the land, or buy. Have the house, build a piece, you know, like, it's stuff I'm thinking about all the time. We're just creating. We're changing. We're, you know, we're adding, we're taking back. I mean, there's. There's just so much opportunity. So what questions do you guys have here on the live? That's all I have, actually. There's more, but some of them, a lot of the doubles. It's a lot about COVID Please keep inspiring. Appreciate it. Let's connect. Questions? What questions you guys got? If not, I'm on bounce. I got a big call today with my boy John. Hey, we are in the market for a new home, but it seems prices are holding steady. Do you think real estate is going to make a big drop in the near future? John, if this is for your personal residence, I don't think it matters. If you have the money, What's. Well, so you're gonna park the money. A lot of times I don't look at my personal residence as an investment. I look at it as a house and a home. So if you're worried about that, here's the question to ask yourself. How low do you think it will dip? You're In Ohio, probably 5%, maybe 10%. It's not going to be, like, on the water, like, where it drops 30 to 50%. You know what I mean? So for you, John, what I'd recommend, just find a house that you like and execute. I think the prices are going to stay pretty. You got to remember, in Ohio, they did not, like, they're not super inflated. Like, on the. On the coast, New York, California, and stuff like that. Hot areas. So those get super inflated. That's why you see big drops. But in Ohio, during. Even during the crash in 2008, I mean, it wasn't. I mean, it was. It's like, whatever. It's your house, dude. Like, I don't Know, I don't look at it like that. And that's keep on. You're already buying retail anyways. If you're trying to buy a house and you want to save money, just buy wholesale. Hit up all the local real estate investors in your market, tell them what your cash budget is and what you're looking to buy and let them go find you a deal at 20 or 30 cents on the dollar, knowing that you have to put some money into the deal. So to fix it up and make it, you know. And if you're looking for an equity play or cash position play, that's what I'd recommend. Hey, I want to raise private funds during this time. Where should I start? Bully. Dude, just start talking about money. There's so much money to be raised right now. Well, first of all, now and forever. But if you have a good asset class that you're investing in and just get people just start talking about money, tell them, hey man, did you know you get 12% on your money secured by real estate? Hey man, did you know there's some awesome deals coming up on the books. Blah, blah blah. Like dude, just start. It's, it's not hard at all. The truth is with everyone getting laid off, there's what, 30 million people that possibly have 401ks that could move it into self directed environments and do something with it. It's pretty amazing. Hey Jennings, how do you determine if an opportunity is greater? Distraction. Very simple. Is it in alignment with where I'm at and where I'm going? That's it. If it is, it's an opportunity. If it's not, it's a distraction. Next start an E comm read the 12 Month of Millionaire Start. Yeah, it's a great book, Paul. My buddy Ryan Moran wrote that. I've known him, he's for a long time. He's actually out of Cleveland, Ohio now in, now in Austin, Texas. But great read. Very, very professional guy, way smarter than I'll ever be. And that's a great book if you're trying to do E Comm. But again that's a grind, you know, I like to buy but if you're trying to start out, could be a great book. Yeah. Yes, John. Yep. That's a good. Because we have a decent amount of equity in our home. Awesome. Awesome buddy. Yeah, John, that's awesome man. Devin. Yep. You just got to talk to people. You're right man. That's the truth, man. If you want to raise money, just gotta have conversations. I talk about money everywhere. I Go, you know, I mean, I don't know why everyone's so afraid to talk about. Well, people afraid to talk about money don't have it. And this is why rich get rich and poor poor. It's the truth. If you don't like it, well, you probably don't have money. It's the truth. You're not bragging about it. You're simply talking on how to grow it, how to expand it, how to steward it. That's what people that have money talk about all the time. The guys I'm rolling with anyways, hey, what are we buying? How can we grow? Hey, where are we giving it? Who can we hire? Like, yesterday we hired someone. Like, our whole team is like, yes, we're making an impact. We're making the moves. Dude, that takes money to hire people. That takes opportunity to hire people. Like, you don't just not have money and do that kind of stuff. So you got to be thinking, you got to get it. I keep saying this. You got to get in a better relationship with money. And I think that goes for most the majority of the world. They don't have a good relationship with money at all. You know, money to me is just money, and I understand it a little bit, and I want more of it, and I'm going to get more of it for sure. Now the question now it's a game of how much can I actually get? You know, looking to get leads on business for sale. Any advice? Looking to get leads. Yeah, I mean, dude, I don't know. I don't like to go to brokers. You could go to brokers and all that stuff. The reason I don't like going to brokers, typically they've already priced it too high and they're squeezing every penny out of it and over overvaluating it. Yesterday I was talking with a merger and acquisitions guy, a lawyer. So you can talk to them and say, hey, what's your typical product look like that you're doing, what kind of deals you doing? And then, you know, if it fits in this category or not, just say, hey, if you have any deals that fall under, you know, A million to 3 million, EBITDA and this and that hit me up. I'm interested. And now, boom. You know, plant the seeds with M and Egg people post on social media, let people know you're actively looking to buy companies. I do that all the time. I get. I get a lot of messages. Most of them are junk, but that's okay. That's called marketing. And, you know, I'm focused on the ones I can help. So there's a lot of ways, Jimmy. And if you're trying to do direct mail, I don't necessarily do that. You know, best book to learn about money. Start with Tony Robbins book called Money. I don't know the best book. There's no best, by the way. They're all good because you can pull one thing out of it. I don't know the best, but I think you have to do more of like a top 10. Like, it's funny, my wife and I traveled the world for seven and a half years. People like, dude, what was your favorite place? Fuck, I have a lot of them. Why do I have to pick one? You know what I mean? There's a lot and there's a lot a lot of them for different reasons. So the real question is, what do you want to learn about? What place where you at in your life, where you want to go, Travel. That's what I always say when someone's like, what's your favorite place? And I always say, there's a lot of them, but what are you looking for? If I tell you Santorini, Greece is my most amazing place and you're allergic to sand and sun, you're probably not going. That conversation is pointless, right? But if you say, hey, man, I really love, like, just being outdoorsy and blah, blah, blah, blah. I'm like, dude, if you got 42 days, you could block off. You should walk the Camino de Santiago cross Spain. It's amazing. I would have anybody do it. And, you know, so it's like, that's kind of what I'm doing. But, like, there's so many books, you know, it's. You gotta, like, get intentional about what you're trying to learn. You know what I mean? What do you think of Auto Savage scrap metal business? I have no clue about them. I don't think about anything. I don't think about them. I don't know. I. I personally wouldn't do it because I'm not in love with. I don't. I don't. I don't, like, see a car and Savage, man, I get $720 out of that. I could sell for 15, like, if you're into it and you like that stuff. I don't. I don't like to work on cars, dude. I don't even like putting windshield washer fluid in my car. So, like, a scrap metal business for me, it doesn't serve me. It doesn't get me excited, and I'm not interested. I Don't care how much money it's making. However, with that said, if someone did love that business and I had money to fund into that business and they wanted to make me a lot of money on my money and they do all the work, I like that business now because I'm not investing in the business, I'm investing in the person the business is just a piece of to get my money back. So there's some variables there, but I don't know what value I could bring to an honest habit. By the way, when I'm buying businesses, I'm not looking just to keep it as is. I'm looking work. Where's my value? Where's my magician moments in that business that I can grow it 2, 3, 4, 6 times in the first 12 months of acquiring it? Why am I acquiring you guys? To understand. Some companies acquire to shut down. You guys know that, right? Because you're not acquiring the company or acquiring the talent inside the company. You shut the company down, you take the talent and put them on your team. It's the only way you're gonna hire these people. So there's a lot of variables of all this stuff. But Jennings, I don't. I'm not really sure on the auto salvage stuff, man. Cool, cool. You guys got any other questions? If not, I'm gonna bounce. I got stuff to do today. I got big stuff today, you guys. Hopefully you guys can share this video beacon. Real quick on the recap. What was the. What did we talk about on Monday? The end result doesn't matter. Why most never succeed. That's right. So quick recap Monday. We talked about that, guys. The end result doesn't matter. Why most never succeed is because they don't fall in love with the process. So they're too focused out here. You get discouraged, you stop. Don't fall in love with the end result. Fall in love with the process. Get excited about the end result, but fall in love with the process. The cool thing about it, your end result is so small and you're going to realize that through the journey, you're going to expand that as you grow. So the end result actually might be holding you back and you don't even know it. Pretty powerful. It's real, too. What's Tuesday Beacon? The power of commitment. How much is your word worth? It's interesting. You'll commit to a cell phone and pay $100 a month for a phone, but you won't commit to $5 a day or $150 a month to your Financial education. It's very interesting to me that you'll stop your financial education or your investment in yourself before you'll stop your cable bill or your cell phone bill. It's very interesting to me. I really do think the biggest separator in success and non success is investment in yourself. So commit to it, stick to the plan, implement the plan and you can ask anybody. Jennings is one of the guys in the Diem family. When they come in, they have to pay 35 grand in full. I don't do payment plans. Why? Because I know month three or four, you're going to hit a little low in your business and you're going to freak out and you're going to, I can't afford it. That's when you need to pay it the most. That's when you need to make the investment harder. But again, it's easy to make the investment when it's easy, but then the commitment comes into the moment when you like want to bell. I've seen it happen. And I won't set my people up to fail. And that's why I charge up front. Devin. Real powerful. Cool beacon. Next day. You can't win the game if you're not willing to lose. This is probably one of the most powerful things as well. You know, you can't step on the field if you're not willing to lose. Most of you aren't even in the arena, let alone and you're acting like you're winning. Or you say you want to win, but you got to do the work. You got to get in the game. You got to step, you got to lace up, you got to get ready to lose. The reason you're not accomplishing your biggest goals is because you're just not willing to lose. You're playing to protect, you're playing to win. Every deal has always got to be a winner. You're bottlenecking every activity because you're afraid to lose control. I see it every day at high levels and all levels. If you're afraid to lose, you're not going to win. It just doesn't align with where you're going. So you got to let go of that. You're going to lose. Guaranteed, by the way, you're losing no matter what. If you you're going. I'd rather know I'm going in a deal to lose than to not play the game to win. Like I'm in there to win, but I know I gotta lose. It's part of the game, man. Cool. Everyone's playing too Small me included. Go ahead. Thursday, your dream life is on hold because of financial ptsd. And again, it did ruffle a lot of feathers. We got a lot of people sharing the video, so thank you, guys. I appreciate that. As you guys know, all of us have a financial thermostat, a financial PTSD moment. So maybe something bad happened in your life, therefore you're trying to protect everything or whatever. Or maybe you're just making bad decisions with your money. I know I did that for a long time because I had bad. I didn't have a good relationship with money. So you got to get serious with this stuff. It's important. Having money is important. If anybody tells you it's not, they don't have money. And they're going to be calling you when they get sick because they need money. It's important. Know that you have to steward this. Know that it's on your shoulders. Know that no one's there to help you except you. If you don't learn this, no one's going to give it to you. I promise you. You have to get better about money. You have to learn about it. How do you feel about it? What's your thoughts on it, when you have to spend it or make it? I was talking with a guy yesterday. I was like, dude, like, you literally can 100 grand a month minimum, and you don't even have to work in the business. He's like, yeah, but, man, I have to be there because what about my employees? And I'm like, dude, the whole. You've worked 22 years of your life to build this business. What about the blood, the sweat, the tears, the emotional aspects? You're the one holding this business up, man. Get out of the business. You'll make 250 grand a month without working. Yeah, man, but you don't understand. Like, I do understand. I've been there. Right? You got to realize there's so much like your team doesn't want you in their bottlenecking. Give them. Give them. Empower them to do their job at the highest level. Stop being a pussy and thinking you don't know everything, and I can control everything. You can't. If you could, you'd be a billionaire. Why aren't you. When are you going to look at your bank account, realize you don't know shit? That's what I had to do. I knew everything. But my bank account was not. Not representing any way, shape, or form that I knew anything. Yes, I am measuring by my bank account. When you're in business, you measure by your bank account, you measure by your profits 100%. And again, if anybody tells you you're not, they're full of it. They don't have a business and they're not making money, period. I don't care who you are. If your business account's not growing and it's not massive, like in the millions plus, you're not. You're playing small. You know how much money's out there. It's so much. You can help people, Provide a great product, promote it constantly, and sit back and enjoy the ride. You are bottlenecking your business. You're bottlenecking your growth. You think your client, you think your team worries about what you make? Dude, like, if that's the case, how's Apple? How does Jeff Bezos have people working for him? The guy's got Bill. It's on. He's on TV 247 about how many billions he's got. Warren Buffett, like, what are you talking about? You're Mickey Mouse compared to these guys. I'm Mickey Mouse compared to these guys. I can tell you right now, when I was worried about that kind of shit, I wasn't making any money, figuratively speaking, compared to now. Dude, I want to take the T. If we're not making money, we all lose our jobs. I shut down the company, you lose your job. He loses a job, she loses. Like, dude, what are you talking about? By the way, just because we had a good year this year doesn't mean we're going to have a good year next year. One thing, with financial PTSD in your business, if you treat your business account as your personal piggy bank account, shame on you. You are in trouble. You will go under promise, and if you don't, you're gonna have a miserable life because you're constantly like, happy, sad, happy, sad. I know. I did it for nine years. It's not fun. You gotta set up a salary, take a salary, live inside that salary. No more, no less. The business is a business. It's a breathing entity. It needs to make money. If it doesn't make money, it doesn't survive. And just because you had a good year this year doesn't mean you have a good year next year. Just because you had a good quarter this quarter doesn't mean you have a good quarter next quarter. You got to have visual representation. That's called P. L's projections. You got to be looking at this stuff knowing, hey, like, for example, in restaurants, this might be a bad example right now with what's going On. But restaurants on Tuesdays are always dead, right? Well, how do we stimulate activity in our restaurant Tuesdays based off the P. Ls based off the daily actions, based off the daily receipt roll. Rent roll. Like the rule. Receipt rolls. Hey, on Tuesdays, we make 30% compared. 30% of what we do on every other day. Great. How do we fix that? Well, maybe we have a promotion. Maybe we do a taco Tuesday. Maybe we do a takeout Tuesday order. Maybe, like, you create an opportunity to stimulate activity, to bump up profits, bump up revenue. Right now, with what's going on in coronavirus, you're like, how do you stabilize? No one's planned for this for 60 days, 70 days, whatever. So what do you do? You got to be creative. You got to get. You got to start using your creative juices. Yes, you have to work harder. Yes, you got to make more calls. Yes, you got to spend more money on advertising. But the goal is to make revenue. It doesn't matter how hard and how much. The truth is, if you survive and push up and thrive, you will be better. You'll be bigger. Why? Your dollars will be different in the future, Right? If you. If you roll this out and you're spending more money now in the business to get a lead. You understand? Once the storm crosses the fog boom, you're still spending the set. Now your thermostat's been set to spend the same out. Now your leads, four, six, ten times. What's that do to your bottom line? It crushes it, increases it drastically. So it's like, you got to see. You got to see the big picture. Your financial PDSD is not allowing you to. I struggled with this for years. Hired people to help me repls. I hired people to help me. Like, forecast on the front end. Like, how much do we need? You know, where are we at right now, today? Where are we going? Hey, you know, in the media company, from June, July and August, it's kind of slow. Why? People are traveling. It's vacation time. This is what they're doing. Great. How do we pre sell packages? January, February, March, and then start doing, like, buy one, get one half off in July, you know, at least create a revenue stream. Here's what we needed to do. Like, there's so much opportunity when you do that. And there's all. Every single company has this. But most of you sit there and just keep talking shit, acting like you know what you're doing, you know, everything. Ask your team for help. Hey, where can we improve? Hey, what do you need help with how could we double our ask questions. Profound. Like a question like, how do we double our business in 12 months? Ask after the person that answers the phone calls on tech. Answer the person on customer support all the way up to the coo. See what the answers are. That's your job as a leader. That's what I'm doing all day. I'm thinking about how to grow this bitch. That's what I get paid for. And by the way, growing it doesn't mean it's easy. It's going to take big financial commitments. It's going to take me possibly bringing an investor with more money. Like, there's so many things. That's what your job as a CEO is. It's not rainbows and unicorns just hanging out doing nothing. You know what I mean? So that's why I'm very protective of my time. By getting in the trenches, it's like, it's hard for me to do that because if I'm in the trenches, I know I can't be conscious. I can't be like, I need to be on top. I need to see it in different. Different view stand. Viewpoint. Right. I know some people who have done very well with it said. It's a lot of work, though. With dealing with what, buddy. Guys? A lot. What. Here's, here's the truth is, whatever you're doing, if you think it's going to take a lot of work, multiply it by 10. If you're still not scared, go do it. If you're scared, don't do it. Because it's gonna probably take a hundred times. But hard work is a relative thing. A lot of work. I don't know what a lot of work means. Hard work, I don't know what that means. Again, I talk about this in the Magician versus Mule. That's all thought auditing. What does it mean? What does it mean? Because we put these words on things and it means something. Who wants to wake up to work hard? I want to wake up to be productive. I want to wake up to be profitable. If you can shift your conversations with yourself, dude, today's going to be a productive day. Not like, yeah, I'm gonna work hard today. I'm gonna work so hard today. Changes the cadence a little bit, changes the results. So have fun with it. Guys, this is. This is your life. You only got one shot at it. I'm here for you guys. I'm thinking about you. If you need anything, hit me up. If not, I'll see you guys Monday, 8:30am Keep me posted with the questions. I'm here to help you guys. Happy Friday. Make today count. Peace.