cfd 108

CFD 108 – Part I: J. Massey, Recorded LIVE at Real Estate Investors Event in Santa Ana!

Every now and then it's good to share a Cash Flow Diary podcast episode or two from live events so you can get a deeper understanding of what it takes to be a successful Real Estate Investor. This episode is taken from a special event in front of about 60 individuals that happened on September 27, 2014. This episode is jam-packed with information about how you determine your Investor Identity, an up-close look at the differences between being a Wal-Mart and Nordstrom type of investor, what my big feet have to do with any of this, why you want to stop living on the learning curve, a whole lot more. I talk about reasons you want to ask everything and assume nothing as well as reasons to jump into the Real Estate Investor pool. Take notes. Jot down questions. Join me live tomorrow on Q & A with J at 4 p.m., PST, on www.cashflowdiary.TV and ask those questions. I answer in real time. All you have to do is send me the questions in advance from this website or type them into the chat box tomorrow! Listen Now.

Show Notes

Master Your Game

On this episode of Cash Flow Diary J. shares recordings from two live events and guides you through playing his personal Cash Flow board game. J’s game is all about having passive income greater than your total expenses and ultimately teaches you how to get out of the rat race and on the fast track.

Episode Rundown

5.53            The cone of learning

8.40            Giving a talk

12:31            Rat race vs. fast track

15:25            Income balance sheet

22:39            Apply for one-on-one break though session plus J’s weekly insight

26:19            Getting out of the rat race

29:15            Financial lesson

32:30            Starting the game

36:49            Why you buy and why you don’t

40:01            Other people’s money (OPM)

41:02            Investing in real estate without leaving your home

42: 29            Five types of appreciation

43:35            Other people’s everything (OPE)


Key Lessons Learned

  • Investors use their money to back someone else in order for the other person to go and bring the investor more money
  • After two weeks you tend to remember 10% of what you read, 20% of what you hear, 30% of what you see, 50% when you see and do, 70% when giving a talk
  • You need to create an income statement or balance sheet to know where you stand financially
  • Your goal is to have passive income greater than your total expenses
  • The key is seeking people, tools and resources to make your dream happen
  • He or she who educates the market dominates the market
  • Once 100% of your income is passive you are free
  • An important lesson to learn is why you buy and why you don’t buy
  • If you don’t know when to buy, it means you don’t know your investor identity
  • Learn to invest in real estate with OPM & OPT & OPK (other people’s money, other people’s time and other people’s knowledge)
  • There are five types of appreciation (found, forced, phased, inflated, and passive)
  • The more you learn the higher your financial IQ
  • Learn to invest with OPE (other people’s everything) and get them to do it bigger, better, faster, and cheaper
  • You don’t have to the expert in all the pieces but rather be the generalist and understand what the pieces are and how to put the puzzle together
  • If you don’t go after what you want you’ll never have it
  • If you don’t ask the answer is always no
  • If you don’t step forward you are always in the same place
  • If you are not clear on your investor identity and what you want then you can’t ask for it
  • Best question to ask: How can I do in real life what I did in the game

Thank you for listening! If you enjoyed this podcast, please subscribe to the show in iTunes 

Links to Resources Mentioned

Learning Investing Now

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Want to get out of the rat race & on the fast track? J Massey teaches you ‘the game' in this podcast #realestate 

Is your goal to have passive income greater than your total expenses? You need to hear this podcast! #realestate

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