Cashflow Diary™

Latest Episodes:

Fearless Wealth and Living The Undiversified Life Jun 10, 2019

Show notes

🔍 GET THE STR INSIGHTS THAT CREATED 7-FIGURE HOSTS
After managing 400+ units and helping STR hosts in 17 countries achieve $800+ monthly net income per bedroom, I'm sharing my best strategies - free.

Every Monday and Thursday, you'll get:
✓ One actionable STR automation strategy
✓ Data-driven market insights that matter
✓ Implementation frameworks that work
✓ Real case studies from our 20,000+ community

No fluff. No theory. Just proven systems from my living room "office" (fueled by Celsius and Chick-fil-A).

These are the exact insights that help our community achieve:
• 30%+ profit margins
• 80% automated guest communication
• 5+ hours saved weekly

👉 Join 20,000+ successful STR hosts at https://newsletter.cashflowdiary.com/welcome

Now, let's dive into today's episode...

RC Peck, sits at the intersection of money and human behavior. For over 20 years he's helped people hear what their money is trying to tell them. His struggle with dyslexia, watching his parents' life savings get embezzled, and his background in Neuro-Linguistic-Programming (NLP), taught him to question the obvious. He now uses his ability to see what others can't see which brings clarity and insight to a world that is often described as confusing and overwhelming. His fearless wealth message is clear. Listen to your money. It's trying to tell you how to get the life you want.

Podcast Highlights

Who is RC Peck?

The first answer that came to RC was a time when he was in 7th grade and taking martial arts. He was able to buy throwing stars for $2 and take them to school and sell them for $8, it was just something made sense for him to do. It just came naturally, he saw the excitement in others and the opportunity became obvious.

RC didn’t know that he was dyslexic until his 30’s, all throughout school RC felt like he was smart but his teachers and test scores told a different story. This lead him to pursuing more creative courses like art, something that came easily to him and that he excelled at. He thinks of his dyslexic journey and sees a lot of people going through the same process, but with their money. There is a form of investment dyslexia that is holding people back.

When RC’s parent’s life savings were embezzled when he was 19, that was when he realized that something was wrong with the investment world. The biggest investment mistake in the world is the belief that “I trust and like fill in the blank!” People trust anyone other than themselves to grow their money.

Where does the idea of diversification and fearless wealth come from?

Diversification is an idea from the 50’s, from academia before there were computers as we know them today. The idea of diversification is not inherently wrong, you will still eventually get to where you want to go, but there are probably better options depending on what your goal is.

We are never given the choice to not diversify because it is so common place we never even question the idea. Doing things that go against the mainstream current can be scary, so people rarely look at their assumptions and the common wisdom around investing.

There are only two things that humans can not tolerate, the first thing is not belonging. The second is not knowing the rules. A good parent can be much stricter, as long as they are consistent with their rules. People can even feel “good” about losing half of their investment portfolio value, as long as everybody else is losing too. People with investment dyslexia know there’s a problem, they just don’t have the words to describe it.

What are the words that will set us free?

The stock market is an idea that is loaded with negative emotions. When you read a headline that screams “Market Crash!”, your brain is interpreting that as a real, tangible threat. But if you look at an image of a graph of the stock market, you’ll put the whole thing in context and that can shortcut your brain’s fight or flight reaction.

We are not taught to think visually, we are taught to think in words and sentences and the whole time your brain is bringing up associated images that is driving your life. When in doubt, zoom out.

We are under attack, not by animals with claws, but from people who are paid very well that know that if they can make you angry or scared.

Simple and easy are not the same thing. The defense and offense for fearless wealth is simple but not easy. You start with an image because that will rewire your brain. It can prevent your brain from going into panic mode, and can prime you to push toward your goals. To be successful in any area, you have to dissociate yourself from the immediate surroundings.

When you achieve this rewiring you become a bigger difference maker in your community and family. People are unaware of how much of your time and attention that is being sucked away from unnecessary anxiety. Your life is broken down into three parts: your health, wealth, and relationships. If your wealth isn’t taking up as much time and attention, that leaves more for the other areas of your life.

You don’t start nine companies and hope one of them works out. You start one and focus on that. You don’t marry seven people. We don’t diversify in most areas of our lives and that’s what fearless wealth is all about.

RC’s Takeaway

Notice that the voice has always been there, it’s not going to go away. Those who are waiting for the voice to be different before they do the training, it will never happen. If you want to jump to the front of the line, jump on a call with RC and start thinking visually with your money. You will never have to trust and like RC because you will be able to verify your results yourself.

Links:

fearlesswealth.com

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

🏠 Want to Join the Elite 10% of Short-Term Rental Hosts?

Dear Future Top Performer,

Are you tired of working harder instead of smarter in your STR business? Here's a wake-up call: The most successful hosts aren't grinding 24/7 – they're leveraging a proven formula that transforms average properties into profit powerhouses.

Let me share something game-changing with you...

There's a simple yet powerful equation that's revolutionizing the STR industry:
L × C × F × M = GP

This isn't just another fancy acronym – it's the exact blueprint top performers use to:
• Generate consistent leads without burning out
• Convert browsers into eager bookers
• Maximize guest frequency (hello, repeat customers!)
• Amplify their margins while others race to the bottom

Right now, you're probably leaving thousands on the table. The truth? 80% of your potential profits are locked behind just 20% of the right actions.

Ready to stop bleeding money and start leading the pack?

Join our newsletter today and get weekly insights that will help you:
✓ Master the Growth Formula
✓ Optimize your listing for maximum visibility
✓ Create an irresistible guest experience
✓ Scale your business the smart way

Don't let another day pass watching others succeed while you're stuck in the grind.

👉 Click here to join the newsletter and start your journey to the top 10%!

The E-Myth Entrepreneur: What Every Small Business Owner Needs To Hear Jun 06, 2019

Show notes

No fluff. No theory. Just proven systems from my living room "office" (fueled by Celsius and Chick-fil-A).

These are the exact insights that help our community achieve:
• 30%+ profit margins
• 80% automated guest communication
• 5+ hours saved weekly

👉 Join 20,000+ successful STR hosts at https://newsletter.cashflowdiary.com/welcome

Now, let's dive into today's episode...

Michael E. Gerber is the founder of Michael E. Gerber Companies and E-Myth Worldwide. He has had nearly 100,000 business/coaching clients over his career and has consistently been called “the World’s #1 Small Business Guru” — the entrepreneurial and small business thought leader who has impacted the lives of millions of small business owners and hundreds of thousands of companies worldwide for over 40 years.

He is the #1 New York Times' bestselling author of The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It, Awakening the Entrepreneur Within: How Ordinary People Can Create Extraordinary Companies, The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It, E-Myth Mastery: The Seven Essential Disciplines for Building a World-Class Company, The E-Myth Real Estate Investor: Why Most Real Estate Investment Businesses Don't Work And What To Do About It, The E-Myth Contractor: Why Most Contractors' Businesses Don't Work and What to Do About It, and the new book The E-Myth Chief Financial Officer: Why Most Small Businesses Run Out of Money and What to Do about It.

Podcast Highlights

Who is Michael Gerber?

Michael didn’t find his path in life until he was 41 years old. His brother-in-law owned an advertising agency and was working with a high tech client that was having trouble converting the leads they were getting for them. He wanted to bring in Michael to help even though Michael believed that he didn’t know anything about business. The conversation started off pretty strangely, since Michael truly didn’t know anything about that client’s business, so he just started asking questions. That was how he discovered that just because someone owns a business, that doesn’t mean they understand what business is. That was also when Michael realized that he did know something about business, and that is that selling is a system.

Working with that first client was the beginning of Michael’s business, although he didn’t think about it that way. The more he worked with them, the more he realized how critical what it was that he was doing for them. It went beyond sales, it was transforming the way they thought about the business of business and the purpose of them being there.

After a moment of clarity in a McDonald’s, Michael realized that the idea of the system is what’s missing with every client he had been working with. The trouble was Michael’s brother-in-law didn’t see his business the way Michael saw all his client’s businesses. He could never truly take in what Michael was saying to him, this lead to him bringing someone in to replace Michael named Tom Travisono. After working with Michael for a couple of weeks, he decided to join him and they started the first business development coaching company on the planet.

Technician vs Entrepreneur

The truth is when you start a small company, you are doomed to misunderstand what the reality of starting a small company is. That’s why the majority of small companies fail. 1 out of 10 businesses will reach their 10th anniversary, but that doesn’t mean they’ve succeeded. They’ve just persisted harder and longer than others.

You can’t learn everything that must be known to operate a successful company, but your company needs to. The question then becomes “what is it that I absolutely need to know to start my company right?”

The E-Myth Dreaming Room

The absolutely critical role that you need to fill as an entrepreneur is that of the founding entrepreneur. Not the person that sells real estate, the person who designs, builds, and launches the company that sells real estate.

At the heart of the entrepreneur there are four critical personalities. If you are going to play the entrepreneur game, you need to understand the rules if you want to win. We are born to create, and the creator is the entrepreneur. An entrepreneur is composed of the Dreamer, the Thinker, the Storyteller, and the Leader.

Before you set out, you have to set the foundation for what you’re going to do. The Dreamer says “I have a dream”, the Thinker says “I have a vision”, the Storyteller says “I have a purpose”, and the Leader says “I have a mission.” Until you understand those four things, you don’t have the substance you need to launch your company.

Are these systems built for today or for the future?

A company is a product for sale. The eightfold path is the method that Michael teaches that deals with both where you are today and where you intend to be five years from now.

The first step is the dream, then the vision, purpose, and mission. The following step is the job, which is the client fulfillment system. Then comes the practice, which is the client acquisition system. The next step is the business, which is what Michael defines as seven turnkey practices. The final step is the enterprise, which is seven turnkey businesses.

Every person that has a creator within, all their job is to go to work on their life in a way that transforms it and creates the systems that enable them to replicate themselves successfully.

When Michael first started his company, he and his business partner spent three months talking about it. Those three months produced the dream, vision, purpose, and mission.

Reference: The E-Myth Chief Financial Officer: Why Most Small Businesses Run Out of Money and What to Do about It, Michael Gerber

Michael’s Takeaway

Let go of your doubts and concerns, and go to RadicalU.com and enroll. Michael Gerber has gone through everything that small business owners could theoretically go through. Go to work on your company of one instead of in your company of one. Waking up the entrepreneur within is the primary work every single one of us must do to understand why we are here on the planet. Enroll at RadicalU.com and begin the journey.

Links:

freebook.michaelegerber.com

radicalu.com

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

🏠 Want to Join the Elite 10% of Short-Term Rental Hosts?

Dear Future Top Performer,

Let me share something game-changing with you...

There's a simple yet powerful equation that's revolutionizing the STR industry:
L × C × F × M = GP

This isn't just another fancy acronym – it's the exact blueprint top performers use to:
• Generate consistent leads without b...

How Property Management Can Change The World Jun 03, 2019

Show notes

No fluff. No theory. Just proven systems from my living room "office" (fueled by Celsius and Chick-fil-A).

These are the exact insights that help our community achieve:
• 30%+ profit margins
• 80% automated guest communication
• 5+ hours saved weekly

👉 Join 20,000+ successful STR hosts at https://newsletter.cashflowdiary.com/welcome

Now, let's dive into today's episode...

Jason Hull’s personal mission statement is “to inspire others to love true principles,” which means he is passionate about learning what works in business and life, and sharing what he learns with others. As a world-leading property management growth expert, Jason devotes much of his time to finding unique ways to help property management business owners to grow their companies. He believes that good property management can change the world, by impacting thousands of families & lives. He is the founder & CEO of DoorGrow, a company whose mission is “to transform property management businesses & their owners.”

Jason leads a contribution-focused community, the #DoorGrowClub, a Facebook group full of property management entrepreneurs that believe in this vision. He also shares his wealth of industry knowledge with others through his podcast, the #DoorGrowShow, by helping thousands of property managers throughout North America to pinpoint powerful ways to take their businesses to the next level.

Podcast Highlights

Who is Jason Hull?

Jason considers himself more of a nerd that has been pushed into the limelight in order to help entrepreneurs. He credits a lot of that to his entrepreneurial mother. In college Jason decided that he wanted to start a band and went around preselling a CD that didn’t exist in order to fund the recording time, he did this despite not really thinking of himself as an entrepreneur.

Later on in life, Jason got married really young and the marriage fell apart. He needed to figure out a way to be able to spend time with his kids and around the same time his employer got hit hard by the financial crisis and no longer pay him. All this forced him into the entrepreneurial life as a freelancer web designer. Jason has an insatiable desire to learn which has served him very well as a business owner.

Now he teaches property managers how to win. Jason helps property managers clean up their branding, marketing, and help them find revenue and growth.

During his youth, Jason always had the entrepreneurial spirit without even really knowing that’s what it was. At the core of people who are entrepreneurial, they know they are unemployable. For Jason that means that he creates positive uncomfortable change wherever he goes. Entrepreneurs need to allow ourselves to do what we need to do to lower the pressure around us instead of playing everyone else’s game.

Jason’s super power is his ability to see what other entrepreneurs can’t, combined with his curiosity that pushes him to figure things out. Confidence has always been an issue for Jason, he’s had to deal with imposter syndrome since the beginning, especially since he never considered himself the go to expert for property managers.

Solving Interesting Problems

Opportunity can be very distracting for entrepreneurs because we tend to see it everywhere. On the positive side, we see that the world can be better. Entrepreneurs have always been the ones that have made people uncomfortable and moved the world forward.

Jason never planned on being a property management coach. In the beginning he tried to work with multiple types of businesses and resisted it becoming his niche but a lot about the niche really started to appeal to him. Jason found that he loves working with property managers and seems to resonate with the type of entrepreneur that’s found in the industry.

Property Management and DoorGrow

Every business exists to solve a problem and for property managers they face two major challenges. The biggest challenge is awareness. Only about 30% of rental properties in the US are professionally managed and most people don’t really know what property management entails. In many ways property management in the US is in its infancy.

The other challenge is that property management related issues are the number one source of complaints at most boards of Real Estate. Property management has a negative perception among investors. Even if you get past that, word of mouth takes the rest of the market and that leaves most property managers trying to fight for the remainder. In this case, SEO will not save them.

This lead to Jason asking the question “what would I do if I were to start a property management business?” and that lead to the answer of branding. Branding was costing some companies half the leads they could have been getting. Once Jason plugs the leaks in a client’s business, he looks at what spigot they can turn on to drive leads to the business.

The secret of marketing is they can’t hand you signed contracts, the best the can really do is a cold lead and cold leads need to be nurtured. That’s the hidden killer for most businesses, it can take two to three times as much time to warm up and close a cold lead. Instead of cold leads, Jason teaches his clients to prospect and reach out to the 70% of people who are self managing.

Most owners don’t know how to find a good property manager. The first question an owner should ask is how many doors the manager has. If the number is less than 50, they are probably struggling.

Short Term Rentals

Short term rentals are extremely young in the industry, but there is a trend of property managers getting into the business. They have a lot more turnover and work involved, but they can be very profitable. There is plenty of opportunity for property managers that want to put in the time to understand how short term rentals operate.

Jason’s Takeaway

If you have an external voice that is telling you that you can’t do something, you should find another voice. The truest voice we all have is never going to be negative. You need to find someone that can see you for who you are and what you’re capable of and is willing to tell you so.

Links:

kingjasonhull on all social media

doorgrow.com

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

🏠 Want to Join the Elite 10% of Short-Term Rental Hosts?

Dear Future Top Performer,

Let me share something game-changing with you...

There's a simple yet powerful equation that's revolutionizing the STR industry:
L × C × F × M = GP

This isn't just another fancy acronym – it's the exact blueprint top performers use to:
•...

Mobile Home Park Investing with Ryan Narus May 30, 2019

Show notes

No fluff. No theory. Just proven systems from my living room "office" (fueled by Celsius and Chick-fil-A).

These are the exact insights that help our community achieve:
• 30%+ profit margins
• 80% automated guest communication
• 5+ hours saved weekly

👉 Join 20,000+ successful STR hosts at https://newsletter.cashflowdiary.com/welcome

Now, let's dive into today's episode...

-Wake Forest University undergrad degree in Psychology/Statistics. 

-MBA also from Wake Forest University with concentrations in Business Analytics, Operations and Marketing.

-Former award winning car salesman, selling over 800 cars in 4 years, then author of the book "Car Deal Hacks" discussing how to buy a car for the best price using Psychology.

-Self taught in Spanish (es malo pero funciona).

-Co-Founder of Archimedes Group LLC, an owner-operator company that specializes in Mobile Home Parks with equity in 8 MHPs (roughly $20MM in purchase prices) spanning over 500 lots all acquired within the last 3 years.

-Started with nothing: no money, no experience, and no network.

Podcast Highlights

Who is Ryan Narus?

Ryan Narus is a kid who does not quit. In his own words he’s a boring, vanilla, Irish Catholic kid who just shows up everyday and puts in a little bit of work. Apparently Ryan was a lazy kid who never really cared until around grade 10, at which point he had a fire lit under his butt that has been pushing him forward ever since.

If he had to pick one moment, it was back during his freshman year of highschool. Ryan grew up watching Tim Duncan play basketball and grew up as a Wake Forest fan because that’s where he father taught. After taking his PSAT’s in ninth grade and falling well below the cutoff point, Ryan knew he was staring down the barrel of not going to his dream school. That sparked his motivation to turn things around.

Ryan had the excellent luck to graduate in 2009 with a Psychology degree and the intention to go into sales. Unfortunately/fortunately for him, the only job he could get was selling cars. He went on to sell over 800 cars in 4 years and write a book on how to buy a car at the best price using Psychology. After spraining his ankle, Ryan realized that the job was not sustainable in the long run and even if he made it to the top he wouldn’t want the lifestyle.

If you don’t know who you are and what you like, you will quit. Clarity leads to power, the power to decide and act. Lack of clarity creates confusion.

From Car Sales to Mobile Home Park Investing

When Ryan first started talking about real estate and mobile home park investing, both his dad and his wife were against it. If your significant other is not on board with what you’re trying to do, Ryan brought on his wife to his podcast to discuss the matter and it’s a good episode to listen to.

Mobile home park investing matches Ryan’s skill set like a glove, which is why Ryan focuses on them. He loves operations and organization and speaking to people face to face. Maybe more than all that, he loves helping people. Mobile home parks have allowed Ryan to do things that he wouldn’t have been able to do with other forms of real estate. The value add that he brings to his tenants wouldn’t be possible with retail or self storage.

Understand your customer is not your investors. You make your investors happy by generating a strong return and you do that by pumping your properties full of value, not ripping your tenants off. A lot of people getting into mobile home parks because they think it’s easy and profitable, but ultimately the tenants are the ones who pay for that kind of mindset.

The Future of Mobile Home Parks

Equities are completely overpriced and investing in real estate is now the sexy thing to do now. Huge amounts of money are pouring into the major markets and that’s pushing out the little guy. Ryan believes the future is going to change. Interest rates will probably climb back up and people will get into mobile home park investing thinking it’s easy money and will find out they overpaid.

Ryan wants people to come into the industry but not because it’s a chance to just make a lot of money, he wants to see people that want to help make it better.

Ryan’s Takeaway

There are four things: You’re going to self assess, you’re going to learn, you’re going to love, and you’re going to sacrifice. It’s not going to happen quickly. Once you discover who you are, start looking and learning and networking. Once you identify whatever your dream business is, you have to have the courage to take a big bet on yourself and sacrifice. Once you’re full time, you will find deals and opportunities. When you’re 80 years old, are you going to look back and say “I’m glad I stayed at that job!”? Of course not.

Links:

ryannarus@ardchimedesgrp.com

archimedesgrp.com

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

🏠 Want to Join the Elite 10% of Short-Term Rental Hosts?

Dear Future Top Performer,

Let me share something game-changing with you...

There's a simple yet powerful equation that's revolutionizing the STR industry:
L × C × F × M = GP

Right now, you're probably leaving thousands on the table. The truth? 80% of your potential profits are locked behind just 20% of the right actions.

Ready to stop bleeding money and start leading the pack?

Don't let another day pass watching others succeed while you're stuck in the grind.

👉 Click here to join the newsletter and start your journey to the top 10%!

Alternative IRA Secrets May 27, 2019

Show notes

No fluff. No theory. Just proven systems from my living room "office" (fueled by Celsius and Chick-fil-A).

These are the exact insights that help our community achieve:
• 30%+ profit margins
• 80% automated guest communication
• 5+ hours saved weekly

👉 Join 20,000+ successful STR hosts at https://newsletter.cashflowdiary.com/welcome

Now, let's dive into today's episode...

Eric Satz (rhymes with “cats”), founder and CEO of Alto IRA, is a serial entrepreneur who’s seen both wins and losses. Eric knows investing is no longer just for the wealthy, and is living out his mission of delivering 21st-century investment opportunities to everyone, even non-accredited investors. Eric is a former investment banker and early-stage investor with a passion for nurturing startups and raising capital. He teaches an entrepreneurship class to high school students in Nashville and served on the Board of the Tennessee Valley Authority from 2015-2018. Through Alto IRA, Eric is making alternative asset investing available to all by giving people the support they need to choose amd make their own investments using their IRA savings.

Podcast Highlights

Who is Eric Satz?

Eric is a product of his parents, two very different individuals. Both had significant impacts on who Eric became in life with his mom bringing the entrepreneurial mindset and his father the steadiness and in many ways an entrepreneurial spirit of his own.

Eric started out his career as an entrepreneur selling classically selling lemonade and delivering newspapers. Once he graduated, he went from academia to Wall Street to a company called DLJ. It was there that he worked with a number of entrepreneur clients. From DLJ, Eric opened up a coffee bar in New York City in the same year that Starbucks opened their first NYC venue. That was Eric’s first real failure, but luckily that paved the way for Eric to get back on Wall Street. Long story short, Eric has opened an online foreign currency exchange, since moved to Nashville, started an online organic grocery delivery business, and venture capital firm. It was at that last one where Eric discovered the opportunity to invest an IRA in alternative assets, also known as the alternative IRA.

Now, Eric’s mission is to give everyone in America to have the choice in retirement. If nothing changes the way we invest today we will have 25 million Americans living in poverty by 2050.

Retirement and Location

The financial industry has gone to investments in ETS mutual funds and index funds, and that means the expectations for returns shouldn’t be any higher than 4-6%, which is a big problem for people that are looking to retire. Another problem is the public market has changed, the average person no longer has the opportunity to participate in most deals until they are already overvalued.

Most people raising money don’t know they can accept IRA money as investment, as much as people who have money in their IRA know they can invest it in privately owned businesses. 90% of all savings in the country reside in retirement accounts.

Eric’s alternative IRA platform has solved this problem by making it simple and easy for people to invest their IRA money. There are a lot of sophisticated investors don’t know that this kind of investing is even possible.

The Alternative IRA

Alternative assets are not publicly traded securities which can be bought through a traditional broker. Also, a self directed IRA is not an alternative IRA. With a self directed IRA, you only have the choice between the approved list of publicly traded securities.

Retirement savings dollars should be invested in long term, illiquid assets because those are the assets that will generate the returns you need to get to actually retire. Investing in liquid assets like stocks and mutual funds for retirement is exactly backwards.

Accredited Investors

The idea of an accredited investor has its origins in the Securities Act in 1933 and 1934. They were originally created to protect investors from shady people investing their money in railroads that were never going to be built and at the time, they probably made sense. Today, it basically means that the government is essentially saying that people who have money are smarter than people who don’t, which is something that Eric takes issue with.

People who know that their future depends on how their investments are going to perform over time are going to do their homework, and it’s entirely unfair to say that they can’t because they’ve never been given the opportunity.

Since the Jobs Act, there have been a number of crowdfunding platforms that have opened up investing to non-accredited investors but there is still a lot of work to do.

There is a conflict of interest when it comes to financial advisors and an alternative IRA. When you invest in an alternative asset, they don’t make any money so there is no incentive for them to make sure you know what’s possible.

In a lot of ways, Eric’s business was an effort to scratch his own itch. But after going through the experience of trying to invest in an alternative asset, he started to dig into the issue and found an opportunity and a mission. America needs access to real estate and private companies to generate some outsize returns and make retirement a possibility for more people.

Eric’s Takeaway

If you are related to that voice, you have to make sure you are on the same page otherwise that will probably be the end of that relationship. If you are going to move forward, don’t do it half way. You have to commit to it, otherwise you are just going to be second guessing yourself the whole way. There are going to be a lot of bumps in the road, being an entrepreneur is hard and will test your character. You have to be passionate and committed.

Links:

altoira.com

ericsatz@altoira.com

help@altoira.com

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

🏠 Want to Join the Elite 10% of Short-Term Rental Hosts?

Dear Future Top Performer,

Let me share something game-changing with you...

There's a simple yet powerful equation that's revolutionizing the STR industry:
L × C × F × M = GP

Right now, you're probably leaving thousands on the table. The truth? 80% of your potential profits are locked behind just 20% of the right actions.

Ready to stop bleeding mo...

Courage Goes To Work With Bill Treasurer May 23, 2019

Show notes

No fluff. No theory. Just proven systems from my living room "office" (fueled by Celsius and Chick-fil-A).

These are the exact insights that help our community achieve:
• 30%+ profit margins
• 80% automated guest communication
• 5+ hours saved weekly

👉 Join 20,000+ successful STR hosts at https://newsletter.cashflowdiary.com/welcome

Now, let's dive into today's episode...

Bill Treasurer is chief encouragement officer of Giant Leap Consulting, a courage-building company. For over two decades, Treasurer has worked with thousands of leaders across the globe, strengthening their leadership influence. He is the author of the new internationally bestselling book international bestseller Courage Goes to Work: How to Build Backbones, Boost Performance, and Get Results. 

His previous book, A Leadership Kick in the Ass: How to Learn from Rough Landings, Blunders, and Missteps, provides practical tips for building confidence and humility. His other bestselling book is Leaders Open Doors: A Radically Simple Leadership Approach to Lift People, Profits, and Performance. His clients include NASA, Saks Fifth Avenue, UBS Bank, Walsh Construction, Lenovo, Hugo Boss, Children’s Miracle Network, and the U.S. Department of Veterans Affairs. More at BillTreasurer.com and CourageBuilding.com.

Podcast Highlights

Who is Bill Treasurer?

Bill grew up in the suburbs of New York and they tend to have a particular swagger due to trying to people trying to make their way in city that is crowded with other people trying to do the same. Bill found springboard diving as an avenue to compete in and started winning championships, ultimately getting to the point where he was having scholarships offered to him. The trouble was, Bill was afraid of heights and wasn’t experienced with any high dives, which were a requirement to get those scholarships. Lucky for Bill, he had a coach that wouldn’t let him quit.

Bill’s coach put him into gradually increasing situations of fear, raising the board higher and higher, eventually getting him to the point where he was able to do dives in excess of 100 feet.

Human beings don’t grow in a zone of comfort, we grow, progress, and evolve in a zone of discomfort. If you walk through the fear instead of running away from it, there are rewards on the other side.

Bill basically didn’t enjoy the idea that his own fear was the only thing in his way and holding him back from having a life experience that very few would ever get.

High Diving Into Business

When Bill was the captain of his high diving team he had no idea who he was as a leader so he modeled the leader he knew best, his father. This didn’t turn out well. He started to read books on leadership and ended up working with companies that worked specifically with leaders. Eventually, after accumulating a lot of experience, Bill wanted to take his own big leap and start his own courage building consultancy.

You have to know what your values are in order to be congruent with them. For Bill, that meant creativity and independence, which is why working at someone else’s business wasn’t the best fit for him. It eventually became a soul question, he realized that if he didn’t make the leap he would be suppressing his soul forever. He wasn’t prepared to live a life of dangerous safety.

“Most men live lives of quiet desperation and go to the grave with the song still in them.” -Henry David Thorough

What will you regret the least? Will you regret taking the chance and failing? Or not taking the chance at all?

Why Courage?

Bill wanted to have a risk leadership company, but the term risk didn’t really resonate well with executives that Bill wanted to work with. Bill worked with Mark Levy on the brand and he pointed out that the core concept was really courage so that’s what he should focus on. Once Bill realized that, it all came together.

Courage Goes To Work

You have to do something to make the courage happen, and it usually involved discomfort. Courage is not something you are, you have to go out and get it which is how courage goes to work.

Courage has a relationship with fear, if you’re not afraid you’re not applying your courage. Courage is not fearless, it’s acting despite the fear. For entrepreneurs, failure has a way shaping us. If you’re not failing, you’re never really extending yourself or growing. Innovation and experimentation happens when you are able to fail forward.

If you’re on the cusp of taking a big risk, you need more than a pro and con list. If you can answer in the affirmative for the five P’s, you are much more likely to succeed. Do you have passion for the thing? Is it connected to some principles you hold dear or that are important to you? Is it connected to your purpose in life? Is it your own perogative or is something forcing your hand? The final P is profit, what will your potential reward be? Run it through the five P’s and you will increase your odds of success and also being happy with the result afterwards.

How do you measure courage?

Courage has three different buckets that can be measured. The first one is Try Courage, your ability to try something you’ve never done before. Try Courage is the courage of action and facing the unknown. The second is Trust Courage, the ability to be vulnerable. It’s trusting others to get things done and yourself to see things through. The third is Tell Courage, the ability to express your own beliefs knowing that they will be open to scrutiny.

Reference: Courage Goes to Work: How to Build Backbones, Boost Performance, and Get Results, Bill Treasurer

Bill’s Takeaway

First answer the holy “what do you want?” Many people don’t know, and it’s not up to others to tell you. Then think about where you may be playing it too safe, that may be where you need to take your next risk. Once you’ve identified where you want to go, you can start taking taking the little leaps that will get you to the giant leap. You don’t have to take the giant leap all at once.

Links:

billtreasurer.com

couragebuilding.com

giantleapconsulting.com

couragegoestowork.com

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The Employee Experience and The Magic of Engagement May 20, 2019

Show notes

No fluff. No theory. Just proven systems from my living room "office" (fueled by Celsius and Chick-fil-A).

These are the exact insights that help our community achieve:
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Tracy M. Maylett, Ed.D., SPHR, SHRM-SCP, is the CEO of DecisionWise, which for over two decades has advised organizations in more than seventy countries on employee engagement, leadership, and organizational development. He is the bestselling author of The Employee Experience: How to Attract Talent, Retain Top Performers, and Drive Results and the new book ENGAGEMENT MAGIC: Five Keys for Engaging People, Leaders, and Organizations.

Podcast Highlights

Who is Tracy Maylett?

Tracy believes his real purpose in life after going to perhaps too much school, is creating environments that allow people to do their best, either through his writing, teaching, or his efforts in his business.

There were several moments that changed the course of Tracy’s life including his experience in retail and when he realized that in order to be a successful human resources person he needed to understand business in general. He didn’t start out wanting to be a CEO (he actually wanted to be a football coach) but that’s where he ended up one step at a time.

When Tracy was in college he felt that being an entrepreneur or a CEO just wasn’t worth the risk. But as he started working for large organizations he realized that he could control his own destiny better if he was the one calling the shots. He redefined what risk meant to him over time.

Founder vs Entrepreneur

Founder and entrepreneur are often considered interchangeable but that’s not true. An entrepreneur is an individual that is able to understand the purpose and vision of the organization they run and match that to what people need, but they don’t have to be at the top of the organization.

Founders aren’t necessarily entrepreneurs. They start the company but in many cases it makes more sense for them to move on and hand off the reins to someone else. The transition out of the founder role is a tough one for many people to make, including Tracy.

There is a point where you realize that you can’t do everything and what you really need to do is manage the people with the right skills instead of trying to do it all.

Employee Experience

Engagement in the employee experience has two parts. The first is some sort of emotional level and the second is taking action. Where most organizations mess up with engagement is that they need both, not just the positive emotions.

Just paying your employees more will not get you the results you want. The fact that someone is safe at work does not motivate them, but if you take that safety away it certainly reduces their motivation. The same thing applies to pay. When we receive something, we adapt to it very quickly. Compensation has to be there to meet the employees needs, but it’s not going to motivate them for more than 10 days. Increasing pay is the lazy leaders way.

Engagement Magic

You still have to pay your employees enough, but once that’s done the question becomes “what’s next?” When Tracy did the research into engagement he discovered there were five keys factors that drove engagement in someone’s life and work.

Meaning is the first. When you find purpose in the job beyond the job itself. Autonomy is the second. When you find a way to use your skills in a way that works best for you and allows you to make decisions. The third is growth. People will leave a business or organization for growth opportunities more than anything else. Impact is the fourth. You’re getting results for your effort. The fifth is connection. Doing something beyond yourself and feeling a sense of belonging.

When all the elements are present that’s when people start to engage.

Autonomy is one of the toughest elements that business owners deal with. The key is to set constraints and boundaries and then allowing the team to operate within those parameters however they see fit. You have to make the boundaries and expectations clear and then be able to step back.

People stay where they grow. Growth doesn’t necessarily mean promotions, but more about challenges that allow the person to grow and figure things out. Our natural human instinct is to seek new ways to grow and become better. The ideal leader is one who can identify an assignment for someone that stretches them just enough to challenge them without causing them to burn out.

Reference: ENGAGEMENT MAGIC: Five Keys for Engaging People, Leaders, and Organizations, Tracy Maylett

Tracy’s Takeaway

A leader who is engaged is 213% more likely to have a team that is engaged. If you’re not engaged, it’s going to come through. You need address your own engagement first. You also have to remember that what makes your business go, is the people in your business. Focus on creating that employee experience and the results will follow.

Links:

The Employee Experience

ENGAGEMENT MAGIC: Five Keys for Engaging People, Leaders, and Organizations

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

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Multifamily Real Estate Investing With 37th Parallel May 16, 2019

Show notes

No fluff. No theory. Just proven systems from my living room "office" (fueled by Celsius and Chick-fil-A).

These are the exact insights that help our community achieve:
• 30%+ profit margins
• 80% automated guest communication
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Chad Doty has 12 years of experience as a multifamily investor, but he wasn’t born with realestate in his blood. Originally, Chad was a management consultant for Arthur Andersen. Watching that company meltdown prior to him making partner made him realize that letting outside circumstances control his life wasn’t for him.

So Chad then founded his own consulting company, only to realize he was simply trading time for money. Determined to control his own destiny, Chad decided to leverage commercial multifamily real estate to develop recurring, passive income. He formed 37th Parallel Properties, a private real estate acquisitions and asset management firm.

Podcast Highlights

Who is Chad Doty?

Chad was very driven as a kid, mainly due to his military father. He had aspirations to get into the Navy but because of a variety of reasons he wasn’t able to join. He decided to go into school and try to find something that he was really going to enjoy, he ended up becoming a network engineer and being very disappointed. He went back to school to get his MBA, found himself working for Anderson as a consultant and moving up through the ranks there.

When you can answer the question of who you are a hero to, you will be playing an entirely different game from everyone else.

Based on his DISC profile, Chad is a defined D and that heavily determines how he works and how he interacts with people on his team.

What was it like to make such a drastic change?

Chad didn’t really get the entrepreneurial bug until his mid 30’s. Most people can imagine what their perfect day looks like, but most people can’t imagine what a perfect month looks like. When Chad’s wife became pregnant that lit a fire underneath to make sure that when his child was born that he wouldn’t be an absent father. He was in the position to shift to his own client base and consultancy and in the following months made the move.

When you go to do something different, a very powerful question you should ask yourself is “what is the worst that is going to happen?” You are 100% responsible for the results in your life, at least in how you respond to the events that occur.

The Right Business

Real estate wasn’t the first business that Chad attempted to get off the ground, he initially thought he didn’t like it. He started trading the market but felt that there were better ways to use the same engine and real estate fits the bill. People are always going to want a roof over their head so it passes the evergreen test.

You can determine all things the affect you as an owner and if you focus on the fundamentals you can find success in real estate. Multifamily is going to be here for the foreseeable future, demographics basically ensure it’s a solid investment.

What kind of market do you operate in?

Chad uses a concept called your MAC profile, it stands for Market, Approach, and Capability. There are a million ways to make money in real estate but for Chad, he knew the approach they wanted to go with being long term holders of cash producing assets. They will hold the asset for as long as it performs at or above the market and the market hasn’t changed.

When you get into real estate, you have to think about what kind of investor you want to be. The market has to match the approach and capability you bring to the table.

People don’t pick properties to live at, they pick where the best part of town they can live based on job, school, and entertainment. There is no secret market for Chad, the markets they operate in just have the fundamentals that make them attractive.

Syndication

Chad hears two things that he refers to as real estate mythology. The first one is that a building can be a deal at some price, which sounds true but when taken with the next piece it becomes false. People believe that if the deal is good enough, people will find you but the truth is money flows to people that know what they are doing.

Finding a deal does not mean you will find money. You have to be competent enough to take care of your investors money, that’s the barrier to entry and most people don’t want to put in the work to get the experience.

What do you think are threats to multifamily real estate?

Interest rates are important but Chad believes the US has achieved a soft landing for the most part. The days of the Federal Reserve just letting the market do whatever it wants are gone.

For every 1% drop in ownership rate that translates to 1 million new renters. Demographics are everything. There would have to be a world level event that would have to impact nearly everything for it to be a real threat. Understanding the demographics and interpreting the data opens up tremendous opportunities.

Multifamily real estate over the any period over three years has the greatest risk adjusted return of any direct ownership asset class. One of Chad’s principles is evidence based investing and that’s why multifamily is his asset of choice.

Chad’s Takeaway

Learning how to be a successful multifamily real estate investor is not like becoming a doctor. Commitment is the major difference. If you tried it before and didn’t succeed, chances are your commitment was less than 100%. If you get to that level of commitment, nothing will stop you. You will find the gaps you need to make progress. Find out what your gaps are, find out what the ecosystem is, and find out how you can learn it all and go from there.

Links:

37parallel.com

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

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Ready to s...

Wealth Made Easy May 13, 2019

Show notes

No fluff. No theory. Just proven systems from my living room "office" (fueled by Celsius and Chick-fil-A).

These are the exact insights that help our community achieve:
• 30%+ profit margins
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Dr. Greg S. Reid is author of the Think and Grow Rich Series and Founder of Secret Knock. New York Times' bestselling author of Three Feet from Gold: Turn Your Obstacles into Opportunities! with Sharon Lechter (which turned into a successful documentary), Thoughts Are Things: Turning Your Ideas Into Realities with Bob Proctor, Stickability: The Power of Perseverance, which is part of the Think and Grow Rich series, and the new book Wealth Made Easy: Millionaires and Billionaires Help You Crack the Code to Getting Rich.

Podcast Highlights

Who is Greg Reid?

Greg grew up in the mean streets of Delmar, California. When he was younger and graduated from high school, Greg decided to skip college and instead get a place of his own and find work in sales and marketing. His father told him that he would never make a living talking to people which was obviously not true. Parents often mean well for their children, but that doesn’t mean they always give good advice or have the right information.

Greg believes his super power is not caring what other people think. People have told him what Greg could not do his entire life and he went and did them anyway. If you spend your day seeking counsel and ignoring opinions, that’s the day your life will change.

Greg knows the power of working towards his strengths and hiring his weaknesses. When writing his first book, Greg was turned down 268 times in a row. He realized that he was missing something and hired a ghost writer to shore up what was clearly one of his weaknesses.

What would you say to entrepreneurs that are hearing no right now?

Greg spent three years travelling the world meeting people worth millions of dollars and asked them exactly what steps they did. One of them told him that you have to get to bat 26 times. You have to swing the bat 26 times in business before you hit a homerun. This means that if you want to succeed, all you need to do is keep trying.

Stop planning, stop caring about the way you will get to your goal and instead just start taking action towards that goal. The most successful people are also the most available people.

Seeking Counsellors

If you can talk to people on a human level and you can understand what they want and give them what they desire, you can ultimately have everything you want in life..

Motivation

Greg loves what he does, which is why he keeps doing it.

Greg managed to complete his bucket list last year, a list which included some pretty incredible things that seemed completely impossible when he wrote them down. As soon as you have a dream and move toward it, you look for unexpected opportunity and people will be surprisingly eager to help you.

Once he completed his bucket list, Greg felt a little lost. That was until he discovered the fun of helping his son accomplish things on his bucket list.

Wealth Made Easy

Time plus land is wealth. Wealthy people are often happy to share how they did it, mainly because no one ever asks.

People know about the law of attraction and action, but they often forget the law of gestation. You have to plant the seeds of success and let the law of gestation run it’s course.

If you want to make a lot of money, all you have to do is create a product, good, or service that will people will save their money to have.

Following your passion and the money will follow is one of the biggest lies that people in the world believe. Stop following your passion and look for and seize opportunity.

There’s a concept called CPC, it stands for Clues, Patterns, and Choices. Everybody will show you who they are by giving you clues and acting in patterns, ultimately it’s your choice whether you interact with them.

Getting Permission

All the wealthiest people were trendsetters. They usually had contrarian ideas about investing and business that pushed them to create a path that hasn’t been blazed before.

Surround yourself with people that are getting the results you want and have respect for, not people that you have influence over.

Secret Knock

The Secret Knock is the greatest event that you can’t go to. It brings people together that are thriving and want to accomplish more. You don’t have to be rich and successful to attend, you just must have the willingness to want to be.

Reference: Wealth Made Easy: Millionaires and Billionaires Help You Crack the Code to Getting Rich, Greg Reid

Greg’s Takeaway

Stop sharing your ideas, goals, and aspirations with the people you know are not going to support you. Seek someone that has already had the results you want and surround yourself with people that are ultimately going to help you succeed.

Links:

Gregsreid on Instagram

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

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Strike Social and Advertising Intelligence May 09, 2019

Show notes

No fluff. No theory. Just proven systems from my living room "office" (fueled by Celsius and Chick-fil-A).

These are the exact insights that help our community achieve:
• 30%+ profit margins
• 80% automated guest communication
• 5+ hours saved weekly

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Now, let's dive into today's episode...

Patrick McKenna is the Founder & CEO of Strike Social. He co-founded and sold telecommunications company WCI in 1996. He was recruited by Microsoft as part of a 50 person team to develop the internet audio and video industry. By the end of Patrick’s 12 years at Microsoft, the department had developed into the Windows Entertainment Division now employing 40,000 people. Patrick has spent his career mentoring and investing in startup companies and in 2013 founded Strike Social, which was named the No. 17 fastest-growing private company in the U.S. for 2017 by Inc. Magazine. Strike Social develops AI- powered software and services for digital advertisers across industry verticals with over half of the Fortune 500 benefiting from its solutions including brands like Beat, Xbox, Honda, Mattel, Lionsgate, and large financial institutions.

Podcast Highlights

Who is Patrick McKenna?

If Patrick were a superhero, he would be Batman. He’s always learning and has a ton of great gadgets to help him get things done. Curiosity has always been a major driver in Patrick’s life and he loves figuring out how things work. That includes early computers, technology, and the beginnings of the internet.

Patrick started off as an entrepreneur in the telecommunications industry which is where he became immersed in the idea of being his own boss. One of the small startups Patrick became a part of were teaching corporate training via videos over the internet. Microsoft noticed what they were doing and snapped up the team that Patrick was a part of and that’s how he ended up at Microsoft.

The Bleeding Edge of Advertising

While working on the audio and video technologies at Microsoft, Patrick’s team was on the bleeding edge. It was a time before broadband, before YouTube, before a lot of the technologies that we know today. Now his focus is on using machine learning and AI to make the internet experience even better.

Labor costs will be 80% to 90% of your business in most cases. If you’re not building processes and automation, and you’re not using the software and technology that’s available you’re company is not built to last.

Strike Social

Strike Social helps large organizations through video advertising reach their audience. Machine learning plays a major role in that by optimizing and customizing the types of ads that are shown to people.

Data science is largely misunderstood, meaningful data that will help you make informed decisions can’t be done with just a spreadsheet. For smaller businesses and entrepreneurs, there are many different companies and technologies that are heavily invested in AI and data science that they can take advantage of. As time goes on the technology will become more accessible and affordable, similar to the way audio and video tech has evolved.

The best thing you can do if you want to grow is to find someone who is really good at the social media platforms and bring them on board, the challenge with that is your company will only be as good as that person’s knowledge base.

Machine learning is how companies avoid diminishing returns to some extent in their paid advertising, but you will never be able to really escape it. You should test every aspect of your ad, but just one at a time.

When it comes to creating video, working with existing creators and influencers is one way of testing your creative efforts.

Patrick’s Takeaway

You have to understand what the platforms are good for. If you’re just starting out, you should start with search, Facebook, and Instagram, and then look to your competitors. Study what they’re doing and see what resonates and then go test it out. Try to get an immediate return so you can start building on your results and scaling your efforts.

Links:

www.StrikeSocial.com

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

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Dear Future Top Performer,

Let me share something game-changing with you...

There's a simple yet powerful equation that's revolutionizing the STR industry:
L × C × F × M = GP

Right now, you're probably leaving thousands on the table. The truth? 80% of your potential profits are locked behind just 20% of the right actions.

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Don't let another day pass watching others succeed while you're stuck in the grind.

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