Today, my guest is Russ Morgan. Russ is the co founder and partner had wealth without Wall Street, an online community that seeks to re educate business owners and families on how money truly works. And in just a minute, we're going to speak with Ross about what is investor DNA and why you should only invest when following yours.

J Darrin Gross

I'd like to ask you, Russ Morgan, what is the biggest risk?

Russ Morgan   

The biggest risk is lack of access to cash. The biggest risks, preventing people from being financially free as they have no access to cash is what keeps us going to work every day. Right? It's, I have to be able to make the mortgage payment, I have to be able to make the student loan payment, I have to create the income in order to go on that once a year vacation, pay the cell phone bills, and they have no access to cash. So I have no ability to go buy assets, that would create a passive income to exceed or pay for those monthly expenses.

Today my guest is Rick Elmore. Rick is an entrepreneur sales and marketing expert, and former college and professional football athlete and the founder of simply noted, and in just a minute we're going to speak with Rick about simply noted, it's a proprietary technology that puts real pen ink or pen end to paper to scale handwritten communication, helping businesses of all industries scale this unique marketing platform to stand out from their competition and build meaningful relationships with clients, customers and employees.

J. Darrin Gross

I'd like to ask you, Rick Elmore, what is the biggest risk?

Rick Elmore  

Yeah, it's a great question. You know, I think I don't know if this is a cliche answer. But I think the biggest risk is not taking the risk. You know, I was somebody, before I started this business, who was not a huge risk taker was kind of like, in my bubble, I stuck to a plan. You know, I was very regimented, scheduled, I had that athletic background where your life is just completely booked for you, and really didn't know what was on the other side. And then being an entrepreneur, starting a business, doing anything, you know, larger than yourself takes risk. The bad thing about taking risk if you don't learn from your mistakes, so you don't learn from things that you failed in, in those risks, then those risks weren't worth it. But if you're taking risks, and you're failing, and you're learning and you're growing, then those risks are worth it. And that was something that, you know, even when I first started, I really didn't understand, but it took me about a year to where I was like, I have to get us on my comfort zone, I have to take more risks. I have to try things I don't understand. And you know, Fast forward four years, we have 1000s of clients, we've built robots for building software and nothing I've had experience with, but it was me constantly living outside my comfort zone, taking those risks that has allowed us to scale this company to where we are today.

Today, my guest is Andy Gurczak. And he is the founder of all city adjusting a licensed Public Adjusting firm, and he immigrated to America from Poland with his family at the age of nine. And after working in the construction industry, more specifically Fire Restoration, he discovered his true calling public adjusting. This discovery was largely thanks to herb Johnson, the first African American public adjuster in Illinois who took Andy under his wing.

J Darrin Gross

I'd like to ask you, Andy Gurczak, what is the biggest risk?

Andy Gurczak  

I think my answer if it's not insurance related would be fear. Fear would be the biggest risk. Like you said, Fear is what holds people back is you want to transfer that risk. You said you want to minimize that risk. Fear. To me, when I look at the what's the risk? Well, the risk is fear. If I don't do something and being scared to go out there and do something, we'll call that PA or to me, that's a risk. Because your your fear is holding you back. And you're you can't avoid risk. Right? You can minimize it, you can transfer but you can't avoid it. So I would I would say fear is what kind of was in my head the whole time. I don't know if the right answer. Quick, quick answer.

Today, my guest is Brad Hansen. Brad has been in the mortgage business for 18 years helping clients meet with home financing goals. He also is a real estate investor and loves to educate others on how to build wealth through real estate.

J Darrin Gross

I'd like to ask you, Brad Hansen, what is the biggest risk?

Brad Hansen 

Yeah, that's a good question. You know, I think, you know, there's a couple of them. Number one, I mentioned a few of these number one, I think you have to be really careful. Trying to do too much too quickly, right? It's like anything, the more experience you get, the better you'll be at IT knowledge. So I always say, they walk before you run, right? And make sure that you're not, you know, if you're gonna buy an investment property, do it in an area that you know, do it, do it in such a way that you're going to minimize the risks, right? You know, that you have professionals help you, right? You know, the value of the home, you're not overpaying. It's going to cash flow, those kinds of things. So, you know, one of the risks is that you have a home that has a negative cash flow, right, let's say you overpay and rates are high right now, right? So your rates, your payments going to be relatively high, but let's say you have a payment, that's 3500. But you can only rent it for 3000. Well, now all sudden, you've got a $500 a month negative cash flow. So, you know, again, knowing what you're getting into and not just, you know, it can be as you said, it could be a little bit kind of glamorized a little bit, right. That's a lot of hard work. You know, are you going to are going to hire a property management company? Are you going to manage yourself? Are you going to hire a handyman to help take care of repairs, you know, those kinds of things? Because stuff goes out, right? Are you going to set aside money for maintenance? So there's a lot that goes into it, I would say, you know, that's a risk. But it can be mitigated by educating yourself, surrounding yourself with with professional so walk before you run is another one. The other risk potentially is home values might go down. Right. Now, while we don't necessarily think the environment similar to what happened in oh eight, where we saw 25 to 30% declines, because of the oversupply and the the lot of other things that were happening with the home financing wasn't great. We don't think that's the same environment we have, if you overpay, you could see values go down, but that I think that can be mitigated to a degree by what we talked about earlier. If you're going to buy it, don't expect it. It's going to give you the return on investment that you want to just the first year or two might take multiple years for that. So like anything, it is a risk. It's money that can be lost. But I think I mean, I honestly think the big Guess risk is that negative cash flow, maybe buying a property again, I always recommend that you get a really thorough inspection, you found a property that had that you didn't do an inspection. And you ended up having to put a new roof in or you had other issues, right. So like you, you know, again, I'm not insurance you there are things that insurance can protect you from, but insurance can't necessarily protect you from buying a home that is in disrepair and needs a lot of work. Right. So those are probably the biggest risks that I see. And there's ways to mitigate those and be prepared for them. But yeah, those are those are probably two of the biggest ones I've seen.

Today, my guest is Paul Neal. Paul is the founder and Principal Funding Strategist. At Vantage Point Commercial Capital. A firm that focuses on helping entrepreneurs and real estate investors win by funding their growth in dreams in non traditional ways.

J Darrin Gross

I'd like to ask you, Paul Neal, what is the biggest risk?

Paul Neal  

Well, I think the biggest risk that business owners and entrepreneurs face today and into the foreseeable future, is what I call big, big government, big technology, big media, even big banks. We've seen it over COVID, it's been in our face, that there's a there's a, there's a movement to sort of aggregate the power up into the hands of the few again, whether it's a government media, big business is, you know, is a threat to small business and entrepreneurs. Because, you know, we're, we're free agents, we're out there on the street, we're the ones that are building the community, we're hiring employees, we're caring about our customers caring about her families, giving back to the community, we're the ones that want to be able to exercise, you know, free and independent thought. And we have these forces that are aligned against us. And again, you COVID You know, who did they shut down? Well, they didn't shut down Amazon, they didn't shut down Walmart, but they shut down the, you know, the mom and pop that at a coffee shop, they shut down the church, they shut down, you know, anything they that didn't sort of fall into this, this large monolithic group that that could be controlled. And and I'm not saying there's any sort of force behind it, other than the fact that it's just natural, right, that, that, that, that we're sort of in a battle here that we all want control. And it's easier to control, the smaller the smaller number of levers that control, you know, sort of larger, larger economies, and without getting really deep and off of that, and I just think that we're in a fight, and I think as entrepreneurs, that for us to be to survive into the future that we need to stick together and realize that, you know, I don't I don't think our issues are, you know, most business owners that I know, regardless of the color, their background, their creed, whatever, they just, they just want to work with customers and serve people. And they want to do the best they can. They want to work in excellence, and we just have to stick together. And so we can all win together. Because I think when we win as entrepreneurs and business owners, our families when our communities win, and ultimately, society wins.