Today, my guest is Chris Miles. Chris is the cash flow expert and anti financial advisor and is a leading authority teaching entrepreneurs and professionals how to get their money working for them today. He's an author, podcaster podcast host of the Chris Miles Money Show. He's been featured in US News, CNN Money, EO Fire and has a proven reputation with his company Money Ripples for getting his clients fast life altering financial results. In fact, his personal clients have increased their cash flow by over 200 million in the last 10 years. And in just a minute, we're going to speak with Chris about how to create an Anti Financial Plan.
J. Darrin Gross:
I'd like to ask you, Chris Miles, what is the biggest risk?
I think the biggest risk and this would apply to me or my clients, or anybody really, is ignorance? Right? Like, I always tell people, if you think education is expensive, try ignorance. You know, ignorance is seriously the most expensive thing in your life. I mean, that's really this whole conversation about you mentioned Trump, right? You know, people are mad about his tax turns. That's ignorance, you know, like, it's, it's what you know, and what you can do that actually creates the most money creates most protection, people can say, Hey, I don't need that insurance, right, like that protection. But if they're ignorant to the risk they're already taking, it doesn't matter what they think it doesn't matter how positive thinking you can do. That risk is still there, you know, you stuff to manage, and figure out what to do with that risk. And so I think that really is the biggest risk is just ignorance is what what you don't know is what hurts you. And also what you don't know is what keeps you being hurt. It keeps you living a life of struggle and lack. And if you can find the answers, if you can find out the information you need and act upon it, not just know it, but act upon it. You now you become somebody who's actually more unstoppable doesn't mean you don't have risk in your life. But it just means that if you're always in the mindset of, Hey, I'm ignorant about something at some time all the time, right? You'll start to realize I need to keep learning and if you keep learning, you have a much better chance of success than those that think they know it all. They think that whatever they've been told, that's the truth. And that's, to me is the biggest risk.
Today, my guest is Brian T. Bradley Esquire. He is the leading educator and nationally recognized asset protection attorney for high risk professionals, entrepreneurs, real estate investors and ultra high net worth families. Brian's goal is to give you peace of mind knowing your assets are protected. And in just a minute, we're going to speak with Brian about asset protection, the risk real estate investors face and what you can do to protect yourself.
I'd like to ask you, Brian Bradley, what is the biggest risk?
I think the biggest risk is not thinking that you have any. And I think ignorance is the biggest risk because I have a lot of clients who call ventures like why did you wait so long? You have $20 million, you know, of assets that are unprotected. And they had no clue where their risk even lies, because they thought, Well, I'm I have heavily mortgaged and so I didn't think that I needed to protect anything, but then they have, you know, a lot of equity and that I think equity needed to be protected. So I think it's just a matter of looking at your whole life structure and talking to a professional like yourself and myself and saying, What's your day job? What's your normal life like? What are the age of your kids Whereas the liability just in your general life, where's your liability in your professional businesses, and where's the liability and the things you own and how you own them, and then get a good assessment and knowledge based on that. And once you understand where all the risk and liability comes from, then you have the knowledge to start thinking, What do I do about this and mitigate those. But if you don't take the first step to even analyze where your personal life and liability comes from? That I think is the biggest thing, because if you think of it like a pie chart, no, there's things I know, there's the things I don't know. And then there's the things I don't know that I don't know, if most of your liabilities and things that I don't know that I don't know, you're in for a rude awakening. So I like to shrink that piece of the pie first, and start educating people to where once I know, I don't know this, I can ask the questions and start solving that.
Today my guest is Feras Moussa. Feras is an entrepreneur at heart with a tech background. Feras worked with Microsoft. And he later left Microsoft to bring tech to industries that lack it, where he later found his passion for real estate. He founded Disrupt Equity. It's a commercial real estate acquisition firm that works to provide investors with strong passive income by leveraging multifamily syndications. At Disrupt Equity they focus on identifying B and C class multifamily assets with 90 units or more in key markets, including Texas, Florida, Georgia and Tennessee. Their goal is to provide investors with strategic tax incentivized investment opportunities that create the highest potential returns.
I'd like to ask you Feras Moussa, what is the biggest risk?
Yeah, I'll say there's two I'm gonna answer to two risks. Right? For me, personally, I'm one of them is just kind of really seeing what happens with COVID. And the government stimulus, right? Or deals of you know, I mean, our we've collected a lot of money, these properties, but that's been because of the stimulus. Right? So really seeing, you know, what happens around that situation around evictions, all of that, right? And is the government to help kind of, you know, bail out tenants or not? Right, that was definitely something top of mind. And, you know, that kind of segues to my second risk, which is cash is king, you know, and all these properties cash is king and, you know, we make sure we have significant reserves, right. And even at the company level, I mean, we've been doubling down and just, you know, investing back in the company, right, we're in growth mode and doubling down and reinvesting reinvesting, but just again, making sure there's enough cash for everything. Right. So, I'd say those are my two biggest risks and some things I'm you know, just kind of very conscious of and, you know, continue to think about so.
Today, my guest is Tracy Cousineau. Tracy is a powerhouse real estate entrepreneur, and business coach. She is a co founder of the number one real estate team in the Atlanta metro area. Ranked number 12 is the fastest growing company in Georgia by Inc magazine, and a real estate agent coach. And in just a minute, we're going to speak with Tracy about creating wealth through real estate, and how to avoid certain mindset pitfalls.
I'd like to ask you, Tracy, Cousineau, what is the biggest risk?
You know, I'm gonna go for the our client sakes and customers are, you know, buyers and sellers is if you're a buyer, and you need to have a hunt, you need to have an inspection, you need to know, if there are any issues with the property, you need to make sure that you hire a home inspector that has all the credentials, that they're that they are checking everything for you and that they're not missing stuff. radon is a huge thing in Georgia, because there's lots of rock. And so you know, if you always have a radon test, and then always check for termites, homes in metro Atlanta, they've either had them or they will have them. So those are always three things. Because all three of those things could cause a risk to your insurance. Radon, there's lots of issues that could cause it, but in my opinion, if somebody comes to your house all the time, and they're stuck in an in an area of your home that has radon, this could cause a health issue for them, which will then go back to your insurance, possibly, or if you move into a buyer moves into a house, and they didn't have a home inspection, and let's say that it flooded or it caught on fire, because something was missed, there was some electrical issues in the panel box or whatever, you know, those are all risk and when they close, that's their risk. And they're you know, and their insurance that have to go back and find out where the problem came from and where it was from. And, you know, vacant homes as well. So with sellers with vacant homes, it's you better make sure you add on that protection that you let your insurance company, you know, know that your policy needs to stay that your property is now vacant. Because there are many things that can happen we had a vacant property and we got a call in the middle of the night that it was on fire, and the house was burnt down. So or you can have an intruder you know, mess with it. You know, there's just so many different things that you always you know, personally for me, and my personal situation is we're putting in a pool. So it's like, Okay, I need to make sure that I'm adding the pool that I'm adding the fence and you know, we are always looking at what could go wrong in this situation and then figure out okay, how can I make it? How am I less liable for it if I if I take the right steps to clear it. So I always think about what's the end goal and make sure that anything in between the end goal doesn't you know, I didn't miss
J Darrin Gross
I'd like to ask you, Anthony Coniglio, what is the BIGGEST RISK?
Yeah, the risk I worry about most right now is and I worry about everything. And my team, they were they were here, you know, our team would laugh right now just they'd be nodding their head saying is he worries about everything. What I worry about most right now is the federal legalization. Impact on our tenants. I keep telling people in the industry, be careful what you wish for. You all want federal legalization, but it will not come in the form of okay, it's legal, keep doing what you're doing. It will come with massive regulation. And so I look at for our tenants, how will they be able to manage through that massive regulation? Are they doing what they need to do to get through the FDA? Right? Because these are consumable products? Are they doing what they need to do to to avoid issues around branding and how they're communicating with people and some of the restrictions about how you will communicate around this product? And so I spend a lot of time trying to make sure that we really understand not just a federal legalization will happen. But how does it happen? What will the regulatory impact be on the industry and our tenants and our prospective tenants really having the capability to navigate what's likely to come out of them at them, because I think many people in the industry underestimate the amount of regulatory burden that will be hoisted upon this industry upon legalization. And so, you know, it's interesting, you said, avoid minimize and transfer. I'm not sure how we do any of those with that particular with that particular risk. But that's where I spent a lot of time worrying about. And maybe that's why I work because I can't avoid, minimize or transfer.