ANGRY neighbor BREAKS into my apartment!!!

And then she comes and talks to me like, are you the owner? So then she proceeds to go into my unit because she's mad. I'm like, hey, excuse me. Okay, so I'm running out of command center, have my massive jug filled with water, dropped it completely busted, soaked me. And now I'm going into interview. Let's go.

Today's Friday, so I had the anytime fitness meeting that we have every single week. We got a new office manager starting on Monday. That's awesome. Gonna get trained up over the next few weeks. Let's talk about hiring someone who's left your business in the past, because that's what's happening. They went and left. And do you hire them back? I'd love to know your thoughts in the comments. If someone leaves, not under bad circumstances, they don't say anything negative, but do you have them back? What's the requirement? What's the prison? That you would look through the questions you'd be asking. So we're gonna see if we give this person another shot, or is this a matter of like, hey, you left us when we needed you. There's nothing negative. It was just you left us. Is that just a pride thing that I, as an owner would think about or is that.

That'S their right. They can do whatever they want and if they come back, it's up to me if they, if I think they're of value. Like, well, what's the question you ask yourself and what's the question you ask them when it comes to someone who left you when you kind of needed them and then they want to come back and there was no hard feelings or negativity in the process.

Things like, this is kind of like one of the most stressful parts of what I do. And most business owners have, and that is when you're dealing with multiple situations, and each of those situations require different parties to be brought in and communicated with. So when you have multiple middle level managers, you can't just make calls without bringing people into the equation and getting their opinion, synthesizing that, talking about with them, working through certain things. If you disagree on stuff and then making decisions, and then you got to like bring different parties in. So for example, with the one situation I just mentioned, with the employee that wants to come back, it's like, well, I got to talk to managers, I need to talk to the team, I need to talk to other managers to get their feedback and bounce things off of them. So I don't make calls behind someone's back. So sometimes that can Get a little much when you're trying to get stuff done. Because it's like right now there's three of those things happening where different situations, completely different people you're trying to bring in and you're kind of like the control center for all that stuff happening. But that's this business that's just, you know, every single business owner has that, whether it be at a larger scale or smaller sale, another, another situation, just a financial thing. Like someone just needs help with their finances and trying to walk them through the process of scaling. And when you do that, you are running low on cash. You need to have certain steps and you got to bring other people into the equation. So things like that, that's what is pressure sometimes, I guess.

So it's actually Friday evening right now and it's the fifth of the month, which typically means I look back at the previous month at all the financials inside of all the businesses and it's my time to kind of just take a snapshot of all the companies. And then it's also I determine profit sharing. So every single one of my businesses besides the media group, I do some form of profit sharing. And so whether that be the gym or each of the locations that have GMs on them, or the franchise or command center or whatever it is, I do all those numbers myself. Now it probably takes me a couple hours, but that's like my time to lock in on each of the companies and know the numbers really, really well. So even though down the road like you know, you'd have a finance team doing this sort of thing, it's my like only time to really think about the numbers. I don't think a lot about the defenses a train really. I don't think a lot about the defensive measures of the business like numbers and things like that. But for this maybe couple hours a month. So that's what I'm determining right now. Profit sharing for the different companies and just how July went and yeah, super exciting.

Man. Guys, I wish I would have got this on film. I had my phone in my pocket and I almost was able to get it out and get some video but I wasn't able to catch it. But this is what happened. So I own these 10 unit, a 10 unit apartment complex. But the neighbor next door has always complained about our floodlights going into her bedroom window. So we actually put on the light. We had our handyman go up like 30 foot pole and put this shade so it doesn't, it doesn't shine towards her side of the property. Well then now she's complaining about these motion detecting lights that are on each of the properties front doors to prevent theft, et cetera. So we used to have problems, people breaking into their cars and stuff. Like, so we put these motion detecting lights, they, they're really bright LEDs, right? And now she's complaining about those. So she comes over, she's walking her dog and her husband and they're walking by and Liz is there because she was cleaning the Airbnbs. And neighbor comes strutting over and like, hey, are you the property manager? And then she comes and talks to me like, are you the owner? And I was like, no, I'm just one of the tenants because I do live there. So I'm like, I'm one of the tenants here. And so I was just taking it back. She asked, are you an owner? I said, I'm one of the tenants because I am one of the tenants. I didn't say I was not the owner. Anyways, so then she proceeds to go into my unit because she's mad. She's like, I'm going, goes inside my unit. I'm like, hey, excuse me. Like, having lights on your property is not a felony or any sort of issue legally, but you can have legal recourse for trespassing and walking into somebody's house. So I, I so wish I would have got my camera out and filmed it. She was all mad. I was like, seriously lady, get a life. Like, just. We literally tried to fix the floodlight issue and if you have an issue with the other lights, let us know. But she's been like calling command center demanding to talk to Liz because she knows that she's the property manager and it's just like, seriously, lady, cat a life.

So this is what's called a quit claim deed. And basically what you do is you're putting property from your personal name into an llc. So what you have to do is file this with an auditor's office as well as the treasurer's office. So that first part is for the auditor. This part is for real estate excise tax. There is, it's just a mere. What's called a mere change in identity. So essentially there is no taxable event here. I'm simply changing it from, from my personal name into my llc. So that's what this document's all about. And I gotta file this with the appropriate offices.

It's pretty late at night here, but I was just watching this video of Dave Ramsey. I want to take, I want you to go ahead and take A look at it, it's like a minute long. It was titled like the shortest Dave Ramsey call in show ever. But I actually think it's fundamentally flawed for most small business owners, entrepreneurs and people who actually want to build a lot of wealth. And it's really built for just someone who is in the middle class or lower middle class and someone who's never going to really double down on growing to become a millionaire or beyond. So let me go ahead and watch the whole clip, which is a minute and then let me give my take on it. I have a mortgage just about ready to pay it. All good. But I'm a real estate agent and you know, with a real estate agent you got to kind of go get it and I love going to get it, but it's a big chunk. So what do you owe on it? Oh, 95. How much cash do you have? 211. Good Lord. Pay it off today. Pay it off. What are you doing? Pay it off today. Okay, so I want to break this down because I actually think this is completely wrong information. If you are a small business owner or an entrepreneur, if you are the average person that is putting a couple thousand dollars away every year and you are plugging away at your mortgage for 30 years, et cetera, probably good advice. If you are an entrepreneur and over the next 10, 15 years you want to become a millionaire, you want to have multiple streams of income, multiple businesses and generate a massive amount of wealth. This is the wrong information. Let me give you the numbers. Okay, so $96,000 in debt. Okay, let's assume that this person got a refinance just within the past couple of years and could have easily gotten 3% or 2 1/2% on their mortgage, that's very, very possible. And so if you run, let's just assume it's $100,000. Listen, they're like a two and a half percent interest rate. So if you do the math and that that's like it's basically going to be $2,400 a year in interest. So that's $200 a month in interest that they're going to be paying. Okay? That is the cost of this extra debt they have is $200 a month. Okay. Theoretically, if you can pay your interest and some, you should go invest the money instead of paying off any debt. If you have 30 year fixed debt on your mortgage and you recently, in the past couple years got a mortgage for 2 and a half, 3, 3 and a half percent. I would highly recommend when inflation is at 8 9, 10% that you do not pay off that debt, your interest is less than the rate of inflation. So that's a dumb move. Here's why. $200 per month, okay, is what you're paying in interest now, what if you took that $211,000 and instead of going and paying off debt that you're paying $200 a month on interest, go put that towards a real estate deal where you're going to 20% down, you're going to buy a property that's worth a million dollars. You have $211,000, you're going to go buy properties for a million. You're not going to have to pay property mortgage insurance, you're going to get a conventional loan. It's a four unit apartment complex or fourplex, so you get a 30 year fixed mortgage. I truly believe you can absolutely cash flow 1,000 to $1,500 a month from day one. And furthermore, in a couple years you're probably going to be making two or three thousand dollars a month in rental income in addition to the, the mortgage that you're paying on this fourplex. Okay? So now instead of saving yourself $200 a month on interest by paying off this loan, you've got to now buy an asset. In a couple of years, you're probably literally going to make a couple thousand dollars in monthly income. And it's an asset that goes up in value. Because guess what, your loan doesn't go up in value, it just stays the same. It constantly goes down as you pay it off. So why would I pay that off if it's fixed 2 and a half, 3% interest rate, if I can go get $2,000 a month or even $1,000 a month in income, rental income, in an excess of a mortgage that I'm paying on that fourplex, that is how you build wealth. Because now that fourplex goes up in value, my rents go up and my cash flow improves. So I think it's bad advice by Dave. For a small business or entrepreneur, it's probably a good thing if someone struggles with saving and struggles with investing. But, but if this person has $211,000, I don't think they fall into that category. And this person should be investing their money assuming that they have 30 year fixed like real estate. Debt is fantastic debt. If you have any debt right now and you're paying under 5%, you're literally paying less interest than what the current rate of inflation is, which typically means your asset is going to go up higher than the interest rate you're paying. So you should get as much of that and keep it as much as long as possible. That's why no one is selling real estate right now and not no one wants to sell their house because they are locked in at these two and a half, 3, 3.5% interest rates and now interest rates are 5, 6%. No one wants to sell. Keep that debt, invest and build wealth. Stop trying to pinch your pennies and pay off every single debt when in three years you could literally build a million dollar net worth, taking that $200,000, investing it and having a cash flowing asset that is appreciating in value.