Latest / The Breakfast Club / Marvin Mitchell, Ash Cash & Storm Leroy On How To Make, Manage & Multiply Your Money

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Marvin Mitchell, Ash Cash & Storm Leroy On How To Make, Manage & Multiply Your Money · The Breakfast Club

0:00
Speaker 1: Wait that ass up in the morning Breakfast Club. Yep,
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Speaker 1: it's the world No Data's Morning show to Breakfast Club.
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Speaker 1: Charlomagne and God and Angel Lee NB had to step
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Speaker 1: out for a second, but we got some people in
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Speaker 1: the building right now, Ashcast, Storm Leroy and Marvin Mitchell.
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Speaker 1: What's happening to my brothers, Spacepace, Blessed Black and Holly
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Speaker 1: favor me, sir. Now, we always talk about the importance
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Speaker 1: of financial wellness here on the Breakfast Club, So let's
0:25
Speaker 1: go through each of your resume so we know what
0:28
Speaker 1: each of you do and we can talk about this
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Speaker 1: whole path to prosperity. Yeah. So I amatch cash financial
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Speaker 1: motivator uh, former bank of fifteen years, written twelve books
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Speaker 1: for best sellers over one hundred thousand copy Soul and
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Speaker 1: I just change, you know, help people change their mindset
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Speaker 1: in order to to you know, make more money, manage
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Speaker 1: more money, multiply money, um and just understand that regardless
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Speaker 1: of where you come from, what your your your circumstances,
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Speaker 1: you could you could you know, be have and do
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Speaker 1: anything you want in life. And one of the in
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Speaker 1: the top one percent of the bankers in the United
1:00
Speaker 1: States absolutely absolutely. So. You know, I was a banker
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Speaker 1: for fifteen black man, absolutely CEO of a credit union,
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Speaker 1: and I was one of the top bankers in the country. Absolutely,
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Speaker 1: I'm Marvin Mitchell. Or what I really do is help
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Speaker 1: people to multiply our money by leveraging. And also I'm
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Speaker 1: a Hall of Fame financial advisor myself and a Hall
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Speaker 1: of Fame advisor for an advisor for fifteen years now.
1:23
Speaker 1: And what I really do is I teach people how
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Speaker 1: to really just not only minimize their taxes, but how
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Speaker 1: to take a dollar and make money five times off
1:30
Speaker 1: the same dollar. Oh, I've been working on that. Oh yeah, absolutely.
1:35
Speaker 1: Just recycling your money is what it's all about. Right.
1:37
Speaker 1: People always say that's a myth. They always say, like
1:40
Speaker 1: that the study that they say a black dollar only
1:45
Speaker 1: stays in the black community for a certain amount of
1:47
Speaker 1: time six hours exactly what they say. But people say
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Speaker 1: that's a myth, that's never been a real study done.
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Speaker 1: Is that true? Yeah? Yeah, I think. I think what
1:54
Speaker 1: happens is that, you know, we we like to attach
1:56
Speaker 1: ourselves to things that are sensational. Um So I don't
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Speaker 1: think that, you know, I think in certain communities, yes,
2:01
Speaker 1: right where the money comes in and it's being spent
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Speaker 1: before it even goes out. But the truth of the
2:07
Speaker 1: matter is that there are a lot of us that
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Speaker 1: are doing a lot of great things with money. We're learning,
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Speaker 1: you know, I mean, we're in the information stage where
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Speaker 1: we're actually learning a lot about financial education, about building wealth,
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Speaker 1: and you know, learning how to you know, you know,
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Speaker 1: make money and keep money in our generation. So I
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Speaker 1: don't think that's a real study telling about yourself. Storm Leroy,
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Speaker 1: you got that superhero name, Yes, a superhero name, Storm Leroy,
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Speaker 1: better known as the employed millionaire. And what I do
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Speaker 1: is I show people how to take your nine to five,
2:38
Speaker 1: your salary and become a millionaire, which I've done myself.
2:42
Speaker 1: My knowledge and understanding that I give is your job
2:45
Speaker 1: is your first business partner. Once I understood that I
2:48
Speaker 1: was able to take that salary, I started off working
2:50
Speaker 1: for Verizon, took that salary, became a millionaire by investing
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Speaker 1: that money into out of state real estate, something that
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Speaker 1: didn't have to touch see, manage a deal with, and
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Speaker 1: I understood the value of what that other market was
3:02
Speaker 1: like by buying those properties in other states, putting that
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Speaker 1: process on repeat, having a team to take care of
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Speaker 1: that property. So I purchased over thirty four properties that
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Speaker 1: I've never actually seen while focusing in on my salary
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Speaker 1: and investing in those properties. So that's what I teach
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Speaker 1: people how to do. And I walked into my job
3:18
Speaker 1: on Instagram Live one day, told them this is my
3:21
Speaker 1: last day here, and I went and I had to
3:25
Speaker 1: do it and did that too, to do, you know,
3:32
Speaker 1: to let people know you can do it too. I've
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Speaker 1: seen I've seen some of the stuff before. Somebody showed
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Speaker 1: me a video. It might have been out of context,
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Speaker 1: but I remember it was like, you've seen a million dollars.
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Speaker 1: Isn't a lot of money? Yeah? Facts, Um, that's not facts.
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Speaker 1: Man's only two levels of that, love, the two levels
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Speaker 1: of that. Because after million dollars, this tax, right, So
3:53
Speaker 1: let's say now you're down to six hundred and sixty
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Speaker 1: six thousand dollars, maybe even less, you know what I mean.
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Speaker 1: I didn't want to touch that pended on what state
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Speaker 1: you went. So now that million dollars is depleted. So
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Speaker 1: now let's say you go buy you a house, and
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Speaker 1: we know how much your house, cause resident you can't
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Speaker 1: buy a house. So now you brought you your primary residence.
4:09
Speaker 1: So let's say four or five hundred thousand, so that
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Speaker 1: money's technically gone, and now you have a mortgage payment
4:13
Speaker 1: that you're paying with your job in a million dollars.
4:16
Speaker 1: But now, don't get me wrong, A million dollars can't
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Speaker 1: do a lot if you have a plan. And also
4:20
Speaker 1: it's only a million dollars. When we say that, it's
4:23
Speaker 1: because we don't want you to put a ceiling on
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Speaker 1: what you can do. Only a million dollars. Mean, if
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Speaker 1: it takes you a million dollars to get something done,
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Speaker 1: you should not say you would never reach a million dollars.
4:32
Speaker 1: You should say, so only million dollars. Let me get
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Speaker 1: that million dollars and transform that into ten twenty million.
4:39
Speaker 1: And then when your objective becomes I need twenty million
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Speaker 1: dollars to do something, guess what your mind is gonna say.
4:44
Speaker 1: Commandela's gonna say, it's only you. I'm with you in
4:50
Speaker 1: a country where two thirds of the people can't even
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Speaker 1: you know, afford day basic needs. Saying a million dollars
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Speaker 1: ain't no money is like, nigga, what a mindset thing?
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Speaker 1: Because if your mind has taught that a million dollars
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Speaker 1: is a lot of money, when you get a million dollars,
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Speaker 1: you're gonna stop trying. So the objective is to make
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Speaker 1: sure your mind is always going beyond. Like for me,
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Speaker 1: I give the example of how I took my first
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Speaker 1: property out of state, which was a forty thousand dollars
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Speaker 1: property with a eight thousand dollars down payment, making six
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Speaker 1: thousand dollars a year. I was making an eighty percent
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Speaker 1: return on my money. And I said, man, you mean
5:24
Speaker 1: all I gotta do is keep doing this thing. If
5:27
Speaker 1: it's making six thousand a year, I'm making sixty thousand
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Speaker 1: a year. I just need ten properties to walk away
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Speaker 1: from my job. Now, I bought a property in Brooklyn.
5:35
Speaker 1: I bought that property for three hundred and fifty thousand
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Speaker 1: dollars over twenty years ago. That property is worth two
5:40
Speaker 1: million dollars. Sounds like a lot, but guess what it
5:43
Speaker 1: took over twenty years for it to be worth over
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Speaker 1: two million dollars. And I'm still only collecting enough rent
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Speaker 1: to pay for a mortgage that was one hundreds of
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Speaker 1: thousand dollars of mortgage. So when people hear the stories
5:55
Speaker 1: about yeah, he owns a brownstone, she owns a Brownston
5:58
Speaker 1: for four or five million. That person tho's not wealthy,
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Speaker 1: you know why, because they can't walk in a bank
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Speaker 1: to pull out a four million dollars line of credit
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Speaker 1: on that property because their salary doesn't dictate them being
6:08
Speaker 1: able to pay it. So the money is in the walls,
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Speaker 1: you know. So that's the thing about owning a brown
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Speaker 1: stone that's worth millions of dollars and putting a cap
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Speaker 1: on your thoughts and limitations on what you can do.
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Speaker 1: It's only a million dollars. Let's go back to the beginning.
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Speaker 1: That's what I'm glad you're here because you gotta tell
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Speaker 1: people you know how to even get to that point.
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Speaker 1: I want to get to the point a million dollars, Marvin.
6:31
Speaker 1: I do want to point out as a financial planner,
6:32
Speaker 1: a lot of people feel like in order to get
6:34
Speaker 1: a financial planner, you should be rich. Right. The only
6:36
Speaker 1: reason that you need that is because you got a
6:38
Speaker 1: lot of money. Let's say I only make forty thousand
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Speaker 1: dollars a year. Why do I need a financial planner?
6:43
Speaker 1: Can you talk about that? Well? I will say that
6:45
Speaker 1: the traditional financial system will lead you to believe that
6:48
Speaker 1: you have to have a lot of money to get
6:50
Speaker 1: something done. But in reality, most financial advisors are actually broke.
6:56
Speaker 1: Most financial busores don't have money to themselves, and they
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Speaker 1: come from an educational system that don't really teach people
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Speaker 1: how to make a lot of money. So what I
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Speaker 1: teach people is that no matter where you're starting from,
7:06
Speaker 1: like you know, you can, you can invest right. You
7:09
Speaker 1: can look at different stocks and different different investments. But
7:11
Speaker 1: what I also show people is that if you follow
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Speaker 1: the traditional system, in my opinion, where social Security will
7:18
Speaker 1: be ran out by twenty thirty four according to the
7:20
Speaker 1: General Mission Fund Administration Fund unless they make some changes,
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Speaker 1: pension is going away. That the traditional system of saving
7:27
Speaker 1: will lead people to failing. Seventy six percent of people
7:30
Speaker 1: statistically run out of money anyway, So if you keep
7:33
Speaker 1: doing the same thing, it's going to get even worse.
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Speaker 1: So I have a whole new blueprint to show people,
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Speaker 1: starting from anywhere, how they can actually become financial successful
7:41
Speaker 1: where it doesn't have to be an either or, which
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Speaker 1: means it doesn't have to be I'll leave poor now
7:45
Speaker 1: so that I can live rich later. Right, it can
7:48
Speaker 1: be that I can spend the money that I want
7:50
Speaker 1: to spend now and enjoy my life now, and I
7:53
Speaker 1: can enjoy my life later. And I do that through
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Speaker 1: a tool that wealthy individuals have been using for centuries, right,
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Speaker 1: and that's actually life insurance. So I make life insurance
8:03
Speaker 1: become a wont and not just a need. Like when
8:07
Speaker 1: you think about needing life insurance, you're thinking about like,
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Speaker 1: I need life insurance because I don't want to go
8:13
Speaker 1: fund me or I don't want to fry chicken or
8:15
Speaker 1: bury somebody. Well, when you think about it as a need, well,
8:18
Speaker 1: now you're thinking about getting the least amount. But when
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Speaker 1: you think about it as a won't, now you want
8:22
Speaker 1: to get the most amount. So why would you want
8:23
Speaker 1: to make life insurance or want when you're building wealth? Well,
8:26
Speaker 1: first thing I would say is there are ways that
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Speaker 1: you can structure a policy char the man where you
8:31
Speaker 1: can actually go in and overfund that policy where most
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Speaker 1: of that money that you put in will go towards
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Speaker 1: your cash value. And I'm gonna tell you why that's important.
8:39
Speaker 1: When you're starting off, instead of the death benefit, you
8:42
Speaker 1: get a death benefit, but most of the money goes
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Speaker 1: towards the cash value. Seventy percent fees or automatically deleted,
8:49
Speaker 1: which means that the advisor takes seventy percent less commission
8:52
Speaker 1: and it goes starch to your cash value. Now what
8:54
Speaker 1: you can do is you can actually build wealth and
8:57
Speaker 1: when it starts there, guess what, You never have to
8:59
Speaker 1: pay taxes on it again, it's tax deferred. You can
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Speaker 1: borrow from it and leverage it for things such as
9:03
Speaker 1: real estate and different things like that where you where
9:06
Speaker 1: you your money will never go down. You never stop
9:08
Speaker 1: the for a momentum money. Now that you build up
9:10
Speaker 1: that cash value, you can go out and borrow against it.
9:13
Speaker 1: It continues to grow. You can go out and get
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Speaker 1: real estate like with Storm just talked about. Now you
9:18
Speaker 1: got your money working for you two times off the
9:20
Speaker 1: same time, and that's how you leverage your money and
9:23
Speaker 1: make it grow faster. By having the same dollar work
9:25
Speaker 1: for you twice, then you can make it work for
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Speaker 1: you three times. You can make it work that same
9:33
Speaker 1: dollar work for you three times. It's what other coaches
9:36
Speaker 1: have been doing right now by saying, okay, I could
9:38
Speaker 1: turn my credit into cash, and instead of me using
9:41
Speaker 1: my credit for debt, why don't I turn it into
9:43
Speaker 1: cash and go out and buy an asset such as
9:45
Speaker 1: the real estate. Now I have a life insurance policy
9:48
Speaker 1: Now that's going to continue to grow whether I borrow
9:50
Speaker 1: against it or not. Tax free. I could pay off
9:52
Speaker 1: my credit card with that policy from leverage. Now I'm
9:55
Speaker 1: making money off the life insurance policy tax free. Now
9:58
Speaker 1: I got the points from the credit card, and I
10:00
Speaker 1: got the property generating cash flow, so I can accelerate
10:03
Speaker 1: my growth ten times as fast. Now I got three
10:06
Speaker 1: my money working for me three times because I go
10:08
Speaker 1: deeper just one time, and I'm to go deep one time.
10:11
Speaker 1: Now I can actually take the property that generated equity,
10:15
Speaker 1: and I can actually do a home equity line of credit.
10:17
Speaker 1: Take that money out, get another property. Now I got
10:20
Speaker 1: two properties. I got the point from the credit card,
10:22
Speaker 1: and I got the life insurance. And to cap it
10:24
Speaker 1: all off, if you really want to get spicy, you
10:27
Speaker 1: can actually go out and you can get a trust
10:29
Speaker 1: in an LLC which will minimize your taxes on that
10:32
Speaker 1: policy to begin with. So now you save money on
10:34
Speaker 1: taxes and you got your money working for you five times.
10:36
Speaker 1: And that's not hard to set up. People say, well,
10:38
Speaker 1: does it take millions of dollars to get that story? Yeah,
10:41
Speaker 1: you can dump millions of dollars as long as you
10:43
Speaker 1: do it for at least seven years, but you can
10:45
Speaker 1: actually get storted. People get started with this for as
10:47
Speaker 1: little as like fifty dollars five hundred dollars a month
10:50
Speaker 1: and build it and pay your bills off of leverage money. Yeah,
10:54
Speaker 1: who these broke financials? That's like fat personal training. Why
10:57
Speaker 1: would you financial wars? That's the problem. It's it's like
11:01
Speaker 1: why would people go to the educational system to learn
11:03
Speaker 1: from people who make, you know, forty thousand, fifty thousand
11:06
Speaker 1: to learn how to be a millionaire? Same thing for
11:08
Speaker 1: financial advisors. To financial advisors they're making they're making forty
11:12
Speaker 1: fifty thousand and seventy thousand dollars on average is what
11:15
Speaker 1: the advisor makes. A lot of them were fouling bankruptcy.
11:17
Speaker 1: So I actually had to leave the industry for a
11:21
Speaker 1: certain extent, and I had to go out and I
11:23
Speaker 1: had to mentor with people who are millionaires and billionaires
11:26
Speaker 1: so that they can teach me. They wouldn't even train
11:28
Speaker 1: financial advisors, but they taught me more than the industry
11:31
Speaker 1: ever taught. And that's the things you all mean a
11:33
Speaker 1: lot of times, like when you when you think about
11:35
Speaker 1: people who are being taught about money, what they're taught
11:39
Speaker 1: is that they have to work hard for money, right.
11:41
Speaker 1: And so the truth for them matter is that we
11:43
Speaker 1: need to change our relationship with money. Instead of working
11:45
Speaker 1: hard for money, money needs to work hard for you. Right.
11:48
Speaker 1: And so if you don't come from anything, right, So
11:49
Speaker 1: I'm from the projects in Harlem, right, I grew up
11:50
Speaker 1: in the Saint Nicolas projects. So I came from nothing, right,
11:53
Speaker 1: But I worked hard because I didn't have anything. But
11:56
Speaker 1: once I made money, I didn't just spend the money.
11:59
Speaker 1: I took that money and I invested it in income
12:01
Speaker 1: producing assets. Right. And so what Marvin's talking about, what
12:03
Speaker 1: Storm's talking about, is like, all right, bet, if you
12:06
Speaker 1: come from zero, if you have zero money, all you
12:08
Speaker 1: have to do is stop spending money, right, because if
12:10
Speaker 1: you spend money, you end money. Right. You got to
12:13
Speaker 1: get to the space where you're circulating money, where you say,
12:15
Speaker 1: all right, bet, I got this money. I'm making this money.
12:17
Speaker 1: But instead of stopping the cycle like you talked about
12:20
Speaker 1: the you know, the money you know stays in the
12:22
Speaker 1: community six hours. Instead of stopping that cycle, you say,
12:24
Speaker 1: all right, you know what, I got this money? All right,
12:26
Speaker 1: I'm invested in something. And now if I invested in
12:29
Speaker 1: an income producing assets like real estate, like life instruments
12:32
Speaker 1: like investing. Now, that money is still there. Even if
12:35
Speaker 1: you put the money in the house and you're renting
12:36
Speaker 1: out the house, that money is still there. But now
12:39
Speaker 1: now you you you've created cash flow. And if you
12:41
Speaker 1: keep doing that over and over again, that's how you
12:43
Speaker 1: get to the million dollars. That's how you can start
12:45
Speaker 1: from nothing and you become a millionaire exactly. So with
12:49
Speaker 1: that being said, my focus is always the working class
12:51
Speaker 1: people me to employ a millionaire because there's so many
12:54
Speaker 1: people out there with a job in the relationship. Relationship
12:57
Speaker 1: that we have with our job tends to be the
12:59
Speaker 1: one where we go, I'm tired of this place. I
13:01
Speaker 1: don't want to be here, and that that's an infectious thing.
13:04
Speaker 1: But the reason why a lot of people feel that
13:06
Speaker 1: way is because we don't create an exit out of
13:09
Speaker 1: the job. When I asked someone, I say how many
13:11
Speaker 1: years before you were tired? And they tell me twenty years,
13:14
Speaker 1: thirty years. I look back at them and I go,
13:15
Speaker 1: you mean to tell me there's nothing you could do
13:17
Speaker 1: between twenty and thirty years. You're accepting that number. And
13:21
Speaker 1: what we do is we abuse the fact that we're
13:23
Speaker 1: getting paid this money, and what we do is look
13:26
Speaker 1: at it as I'm only going to pay bills with it.
13:28
Speaker 1: When a job already had a plan with you, they
13:31
Speaker 1: said I'm gonna underpay you for you to overperform. But
13:34
Speaker 1: all you said was and in return, I'm gonna pay
13:36
Speaker 1: my bills right and try to save money. And trying
13:39
Speaker 1: to save money now the objective for me as well.
13:42
Speaker 1: I give people realistic things that you can do with money.
13:45
Speaker 1: If you would to say I want to save one
13:46
Speaker 1: hundred dollars a week, one hundred dollars a week, that's
13:49
Speaker 1: fifty two hundred dollars a year. Then there's some of
13:51
Speaker 1: the most undervalue money that we make, which is our
13:54
Speaker 1: tax return. We get our tax return and say it's
13:56
Speaker 1: ball out time. I'm buying a watch, I'm buying a car,
14:00
Speaker 1: taking a trip. Then you take the trip, come back
14:02
Speaker 1: to work, and you say it felt like I never left.
14:04
Speaker 1: Let's say the average tax return is about six thousand dollars.
14:07
Speaker 1: You saved one hundred dollars a week, so that's fifty
14:09
Speaker 1: two plus to six. That's eleven thousand, two hundred dollars.
14:12
Speaker 1: I just told you how I bought my first property
14:14
Speaker 1: with eight thousand dollars out of state. And that property
14:18
Speaker 1: is what made me rich because it showed me the
14:20
Speaker 1: value of percentages and how I can do something and
14:24
Speaker 1: keep putting it on repeat. So now once you get
14:26
Speaker 1: that property, and now you get another one and another one,
14:28
Speaker 1: and next year you buy two, you buy three, you
14:30
Speaker 1: buy four, you're actually designing a pattern where now you
14:35
Speaker 1: need a minimum amount of money to cause the biggest
14:37
Speaker 1: amount of impact. And what I also teach my mentees
14:40
Speaker 1: is about group economics. We must learn to now partner
14:43
Speaker 1: our money together to do these things, to escape out
14:47
Speaker 1: of the system of what we feel, what we know
14:50
Speaker 1: is that work cycle. We go to school, we learn,
14:53
Speaker 1: we have bell, we go to lunch, we eat lunch,
14:54
Speaker 1: we have bell, we go back to class. Then we graduate,
14:57
Speaker 1: get a job, go to work, here a bell, go
14:59
Speaker 1: eat lunch, bells, we go back to work. So we
15:01
Speaker 1: must break that cycle. It's all in the mindset of
15:04
Speaker 1: where you think about what you think about your job
15:06
Speaker 1: and your salary. Your job is your first business partner.
15:10
Speaker 1: Partner with people who spread that infectious thing. Buy you
15:13
Speaker 1: a couple of properties. If you if you got fifty
15:15
Speaker 1: thousand and you want to buy three properties. If I
15:18
Speaker 1: got fifty, I want to buy three. ANGELA got fifty two,
15:21
Speaker 1: want about three. If we all just partner together, that's
15:23
Speaker 1: nine properties a piece instead of three individually. Why does
15:26
Speaker 1: that matter? Because now you grow in equity on nine
15:29
Speaker 1: different properties all over the state. Now you're doing taxes
15:33
Speaker 1: on nine different properties instead of the three. And now
15:37
Speaker 1: we're doing LLC structures that make a big difference. You
15:40
Speaker 1: have your LLC for me, I teach a structure called
15:42
Speaker 1: the three must have LLCs. One is the acquisition where
15:45
Speaker 1: you buying properties in that LLC. You buy all your
15:48
Speaker 1: properties in that LLC. Well, that sounds risky. What do
15:51
Speaker 1: I do? Now? You get a second LLC, which I
15:54
Speaker 1: call the holding LLC. You transfer those properties into the
15:57
Speaker 1: holding LLC to minimize your risk on the acquisition. And
16:01
Speaker 1: now that holding LLC is in an animidity state that
16:03
Speaker 1: be Nevada, New Mexico, um Delaware, Wyoming. And the reason
16:08
Speaker 1: why that's important because we hear about holding LLCs and
16:11
Speaker 1: rich people use them. We can do the same thing.
16:14
Speaker 1: Just because you have an LLC, you're protected. But if
16:17
Speaker 1: someone looks up to your LLC and say, yeah, you're
16:20
Speaker 1: gonna drink, get hit with a civil lawsuit, especially especially
16:23
Speaker 1: if you're somebody exactly. But in an animidity state, it's hidden.
16:27
Speaker 1: But now here's the other gym. I'm gonna drop this.
16:29
Speaker 1: I need you, I need you all to pick this up.
16:31
Speaker 1: But now you have a property in the LLC you
16:33
Speaker 1: transfer to the holding, but now you collect the rent.
16:36
Speaker 1: Where does the rent go? It goes in that third
16:38
Speaker 1: LLC called a property management LLC, because you're separating your
16:42
Speaker 1: money with a property management LLC set up in the
16:45
Speaker 1: states you live in, because you're gonna be doing taxes
16:47
Speaker 1: on that LLC. And why is that important? Because if
16:50
Speaker 1: someone slips and fall in front of your property is
16:53
Speaker 1: protected into holding because it's animidity. Your acquisition LLC is
16:56
Speaker 1: protected because the property is not in there. And now
16:59
Speaker 1: if they friends and talk to me, I have not
17:08
Speaker 1: done that yet, you cannot hear it. You can't hear
17:11
Speaker 1: it now. So that's the power of that. We've been
17:15
Speaker 1: taught to um to work, work, work, work, work, work, work,
17:19
Speaker 1: get paid. You know, work work, work, work, work, get paid.
17:22
Speaker 1: And all we would want to do as a group,
17:24
Speaker 1: we want to show people that you can flip that
17:26
Speaker 1: where you can actually work get paid, get paid, get paid,
17:29
Speaker 1: get pake, get paid. You know what I mean, work,
17:30
Speaker 1: get paid and paid. And you got to build something
17:33
Speaker 1: that's going to bring you. Build you an asset where
17:36
Speaker 1: you can earn residual passive income. So I'd say, well,
17:39
Speaker 1: what is your freedom score? Like when do you want
17:41
Speaker 1: to retire? Like? And when I say retire, I don't
17:43
Speaker 1: mean stop working. I mean when do you have the
17:45
Speaker 1: choice where if you want to leave your job, you could,
17:47
Speaker 1: but you choose to stay, maybe because you won't do right.
17:50
Speaker 1: So if I'm making six thousand dollars a month, all
17:52
Speaker 1: I got to do is figure out how to make
17:54
Speaker 1: six thousand and seven thousand dollars passive. Now I got
17:56
Speaker 1: the freedom to decide, you know, if I want to work.
17:59
Speaker 1: And that's really what it's all about. That's all we're doing.
18:02
Speaker 1: And when we're building this so when we leverage and
18:04
Speaker 1: we do the things that we're supposed to do, like
18:07
Speaker 1: we could do something called luxury orbitrize. I used to
18:09
Speaker 1: think that I had to live a poor I used
18:11
Speaker 1: to think that I had to drive an old car,
18:13
Speaker 1: live in a small house. Now I have a range
18:15
Speaker 1: Rover and I have a Lambo that actually makes me money.
18:17
Speaker 1: And I actually have a two million dollars house that
18:19
Speaker 1: makes me thirty thousand dollars a month because I may
18:22
Speaker 1: leverage it from my life insurance policy. I'm making money
18:25
Speaker 1: for the life insurance policy. I don't even live in
18:27
Speaker 1: the house that I bought for two million, because why
18:30
Speaker 1: when I can rent it out and it can make
18:31
Speaker 1: me like two thousand dollars a day. It don't make sense.
18:34
Speaker 1: So it's just think it's smarter instead of thinking that
18:36
Speaker 1: you have to live a life of struggle. Because if
18:38
Speaker 1: you live a life where you think you have to
18:40
Speaker 1: be a saver and you have to spare every single
18:42
Speaker 1: dollar that you have, guess what happens. You don't get
18:45
Speaker 1: out of that mentality. So you can be sitting in
18:47
Speaker 1: a bank. You can have three million, four million, five
18:49
Speaker 1: million dollars sitting in the bank, and your mindset won't
18:51
Speaker 1: allow you to spend because you will still be stuck
18:53
Speaker 1: with that same scarcity mindset. And what we believe as
18:56
Speaker 1: a group is that abundance is our birthright. And we collaborate,
19:00
Speaker 1: ask you kind of talk about like we didn't do together.
19:03
Speaker 1: We did okay, I mean by myself, we did okay.
19:07
Speaker 1: But when we came together. We did something powerful. Yeah,
19:09
Speaker 1: y'all like the tgt A financial empowermy yea. Three pillars
19:16
Speaker 1: to the path of the path to prosperity. Yeah, so
19:18
Speaker 1: the three Pillars of the Path to prosperity is really
19:21
Speaker 1: about how do you make more money? How do you
19:23
Speaker 1: manage that money, and how you multiply that money? Right? Um,
19:26
Speaker 1: And and that's why that's what's important because all of
19:29
Speaker 1: us like like you know, my shirt says, abutets to
19:31
Speaker 1: your birthright, and we believe that that everybody has in
19:34
Speaker 1: them already everything they need to live their best life. Right.
19:38
Speaker 1: And so if you just tap into who you are
19:40
Speaker 1: at your natural being, you can make you can you
19:43
Speaker 1: can maximize your full potential and make money. Right. But
19:46
Speaker 1: once you make that money, how do you manage that money? Right?
19:49
Speaker 1: How do you manage it in a way that Storm
19:50
Speaker 1: talks about, How do you manage it in a way
19:52
Speaker 1: that I talk about, how do you manage it in
19:53
Speaker 1: a way that Marvin talks about. And then once you
19:55
Speaker 1: start to manage that money and you're realizing that you
19:58
Speaker 1: do have enough in that you can you know, and
20:00
Speaker 1: it's better than or right that you can live in abundance. Now,
20:03
Speaker 1: how do you take that money that you haven't multiplied it? Right?
20:06
Speaker 1: Because that's what the wealthy do. The wealthy don't make
20:08
Speaker 1: money and then have to figure out how to make
20:10
Speaker 1: money again. They learn how to make money, and that
20:14
Speaker 1: money makes money, right, So now they make money, they
20:16
Speaker 1: learn how to manage that money the right way. And
20:18
Speaker 1: then once they manage that money the right way, that
20:20
Speaker 1: money is always there for them. And they say, you
20:21
Speaker 1: know what, let me just you know, let me just
20:23
Speaker 1: multiply it. Like Marvin says, right, make money babies, right,
20:25
Speaker 1: Your your money should be making babies and and and
20:28
Speaker 1: that's three pillars of the path to prosperity. Do you
20:31
Speaker 1: what do you think people that are going to receive
20:33
Speaker 1: the student loan forgiveness, what do you think they should
20:35
Speaker 1: do with their money? Ah? Man, I think I think
20:37
Speaker 1: people who UM are receiving that money should definitely tap
20:41
Speaker 1: into our five day challenge UM and and and let
20:44
Speaker 1: us teach you for five days, UM how to how
20:46
Speaker 1: to do exactly that right, because what's gonna happen is um.
20:50
Speaker 1: You know, I know a lot of people who are
20:51
Speaker 1: thinking like, oh, you know what, I'm gonna get the
20:53
Speaker 1: ten thousand dollars. I got this, this credit card bill
20:55
Speaker 1: or I have this, you know, I want to be
20:57
Speaker 1: able to, you know, pay down or whatever they they
20:59
Speaker 1: want to pay down. What happens is if they take
21:02
Speaker 1: that money and they pay a bill, then that's it.
21:04
Speaker 1: That's the end of that money. But Storm just gave
21:06
Speaker 1: you a whole play on how he got his first
21:08
Speaker 1: property at eight thousand dollars out of town. And one
21:11
Speaker 1: of the things that I want you to understand why
21:14
Speaker 1: Storm is so important is because he's teaching you how
21:17
Speaker 1: to do it right. Like like New York, you know,
21:19
Speaker 1: it's it's a high cost of living and so you
21:21
Speaker 1: can't get a property. I tell people that all the
21:23
Speaker 1: time when they're telling to buy their first property. I'm like,
21:25
Speaker 1: you might not be able to buy something in New York.
21:27
Speaker 1: Why don't you go look someplace outside. You can get
21:29
Speaker 1: a cheaper real estate and you can flip that or
21:31
Speaker 1: you can rent it out right. That also was years ago, though,
21:34
Speaker 1: I mean, you're right, but it's gonna be hard to
21:36
Speaker 1: find a property of eight thousand dollars dollars is the
21:41
Speaker 1: down payment? How long it was that though? I started
21:43
Speaker 1: twenty fifteen. But I'm teaching now mentees who are actually
21:47
Speaker 1: this week they're making their phone calls to the realtors.
21:51
Speaker 1: I teach them to make the phone calls find the
21:53
Speaker 1: properties inside my mentorship, because I don't believe in giving
21:56
Speaker 1: you the knowledge of letting you figure it out. I
21:57
Speaker 1: want you to figure it out in my class, actually
22:00
Speaker 1: make the calls. And they're buying properties now for forty
22:02
Speaker 1: fifty sixty seventy eighty thousand dollars. Eighty thousand dollars property
22:06
Speaker 1: twenty percent down is still only six I also suggest
22:11
Speaker 1: people get your real estate license too, because I actually
22:14
Speaker 1: took all the classes. I'm gonna take the test to
22:16
Speaker 1: get my license. But you get a lot of access.
22:18
Speaker 1: You know that people don't get to what's available. And
22:21
Speaker 1: that's the thing. Right. So now, if you're like, you know,
22:24
Speaker 1: store has a system where if you're buying property out
22:27
Speaker 1: of state, right, that's your down payment. But think about that.
22:29
Speaker 1: If you said I'm gonna take that ten thousand dollars
22:31
Speaker 1: and I'm gonna pay credit card debt, is done, right.
22:34
Speaker 1: But if you take that and you take it and
22:36
Speaker 1: you put it, you know, put it in a in
22:37
Speaker 1: a down payment to the house, that's cash flowing already. Right,
22:40
Speaker 1: I'm gonna give you two much sorts. But right, it's
22:42
Speaker 1: cash flowing already. So now that ten thousand dollars, it's
22:45
Speaker 1: still ten thousand dollars because it's your down payment. Now
22:47
Speaker 1: that downpayment is equity in that house that you own.
22:50
Speaker 1: And then each month, if it's tenant occupied and the
22:52
Speaker 1: person's paying rent, now you have that cash flow. And
22:55
Speaker 1: so that's what I would say, you know, one of
22:57
Speaker 1: the plays that people could use with that ten thousand.
23:00
Speaker 1: So bouncing off of that, and I know we got
23:01
Speaker 1: to tell you about the challenge, but um, coming back
23:04
Speaker 1: to that, like what you just said about the ten
23:05
Speaker 1: thousand dollars, right, you just gave a perfect, perfect illustration.
23:08
Speaker 1: There's really three types of people when it comes to money.
23:11
Speaker 1: You have a debtor, you have a saver, and then
23:14
Speaker 1: you have the wealth creator. The debtor. That's the person
23:17
Speaker 1: that's they're gonna take that ten thousand dollars. They're gonna
23:19
Speaker 1: find a way to be in the worst financial situation
23:21
Speaker 1: than there was before they got it. Who are like,
23:23
Speaker 1: I'm already and dad, it's over. Yeah, I can't get
23:27
Speaker 1: out the rent race. I might as well go deeper
23:29
Speaker 1: into it right right right Instagram picture by that rusty book.
23:34
Speaker 1: Then you got the savor. The savers gonna say, well,
23:36
Speaker 1: I'm just gonna save this, I'm gonna put it in
23:38
Speaker 1: a bank, right, not realizing that they're losing money due
23:41
Speaker 1: to inflation. It's not doing anything for them. And then
23:44
Speaker 1: when they do finally spend it, like you, ain't gonna
23:46
Speaker 1: recoup that money, like you said, it's going and lost forever.
23:48
Speaker 1: But what I want to do is I want to
23:50
Speaker 1: show people. We all want to show people how to
23:51
Speaker 1: be a wealth creator. Right, How can you take that
23:54
Speaker 1: ten thousand dollars for example, how can you put it
23:57
Speaker 1: into a place where you know what's going to multiply,
23:58
Speaker 1: where that money never goes backwards and it never goes forward.
24:01
Speaker 1: And that's really what we're talking about on this challenge.
24:03
Speaker 1: How can we take you from where you are now
24:06
Speaker 1: to millionaire status? How can we give you the blueprint?
24:09
Speaker 1: How can we give you a step by step by
24:11
Speaker 1: step guide over five days? And it's all virtual, so
24:14
Speaker 1: I don't care where you are. You can log in,
24:16
Speaker 1: If you can log in the Zoom you could join
24:18
Speaker 1: this challenge. If you have Facebook, you could join this
24:20
Speaker 1: challenge and with this challenge, we're taking you from from
24:23
Speaker 1: the real estate blueprint to the author blueprint where you
24:26
Speaker 1: can make fifteen strength of income to becoming your own
24:29
Speaker 1: bank and leveraging your money. We're going to show you
24:31
Speaker 1: all that in five days. And we got a couple
24:33
Speaker 1: of special guests. And you know, we got Grant cardon
24:35
Speaker 1: coming on, Grand cardon coming on to talk to you
24:38
Speaker 1: about how can you use that to make you rich?
24:41
Speaker 1: How can you how can you use it as leverage?
24:43
Speaker 1: And we got two different opportunities. Right For some people,
24:46
Speaker 1: they're gonna say, look, I just want to get in
24:48
Speaker 1: the room and I don't really need to ask any
24:50
Speaker 1: questions to get any deeper understanding. That's fine. We got
24:53
Speaker 1: something for you for breakfast club listeners only ninety seven dollars, right,
24:58
Speaker 1: and we got a VIP not a v Yeah, that's
25:00
Speaker 1: crazy because we normally chwards two ninety seven, which is
25:03
Speaker 1: still crazy. But we're actually doing one hundred dollars off
25:06
Speaker 1: for breakfast club listeners where they can go in and
25:08
Speaker 1: they can actually have Q and A with us directly,
25:11
Speaker 1: and every day we're actually answering their questions and helping
25:13
Speaker 1: them to get to that path. Quicker and giving them
25:15
Speaker 1: a blueprint where when you leave you're gonna get fifty
25:18
Speaker 1: times the value of it. So, um, you can you
25:21
Speaker 1: can actually go listen, I mean, get that information right
25:24
Speaker 1: now and actually take advantage of that discount by going
25:26
Speaker 1: to wealth Domination dot com. There's on wealth domination dot
25:30
Speaker 1: com and we got it or something. Um, actually we
25:34
Speaker 1: made that site simply for you breakfast for breakfast club listeners.
25:38
Speaker 1: You will see it. You will see it. So it's
25:39
Speaker 1: just wealth Domination dot Com. And you can go ahead
25:42
Speaker 1: and sign up, and when you do, we'll know you
25:44
Speaker 1: came from breakfast club. And one thing I'll say though,
25:46
Speaker 1: right is important to getting in rooms right because again
25:49
Speaker 1: like um, none of us came from money, none of
25:51
Speaker 1: us you know, had any special privileges. Um. What happened
25:55
Speaker 1: was as we started to learn this information right. For me,
25:58
Speaker 1: you know, as a banker, I was managing money for
26:01
Speaker 1: wealthy and I look, I was one of those broke
26:03
Speaker 1: bankers because you know, I was just you know, just
26:07
Speaker 1: starting Now I'm manage your money for multimillionaires. I'm just
26:11
Speaker 1: doing what the bank told me to do. So I'm learning,
26:13
Speaker 1: you know, I'm I'm living paycheck to paycheck. I don't
26:15
Speaker 1: you know, I understand money, but I'm not doing what
26:18
Speaker 1: I'm teaching and being told growing up that you ain't
26:21
Speaker 1: exactly and so and so. I'm glad you said that
26:25
Speaker 1: because you know I've been in a was I started
26:29
Speaker 1: being a bank at nineteen years old. I was making
26:31
Speaker 1: six figures in my twenties. But guess what, because I
26:34
Speaker 1: was told I wasn't gonna be ish, I was you like,
26:37
Speaker 1: I would, I would use that money and and and
26:39
Speaker 1: flawing it right. I would buy I had cars, I
26:41
Speaker 1: had clothes. So I was still making six figures, living
26:44
Speaker 1: paycheck to paycheck. So it wasn't the money. It wasn't
26:46
Speaker 1: that I wasn't making the money. It was the mentality.
26:49
Speaker 1: It was my mindset. I didn't have the right mindset.
26:51
Speaker 1: And then when I started hanging out with multi millionaires
26:54
Speaker 1: and they started teaching me what they really do with
26:56
Speaker 1: their money, I'm like, oh, I don't I don't need
26:58
Speaker 1: this car. Or if I'm gonna get the car, I'm
27:00
Speaker 1: not gonna use my physical labor to buy the car. Right,
27:04
Speaker 1: I'm going to take the money buy an income producing asset.
27:08
Speaker 1: That asset is what's gonna pay for the car that's
27:10
Speaker 1: gonna pay for the house, right, and so you know,
27:13
Speaker 1: getting the room. Stop listening to your your broke friends.
27:17
Speaker 1: Stop listening to the to the friends that look like
27:18
Speaker 1: they got it, because even even the friends that look
27:21
Speaker 1: like they got it are probably living paycheck to paycheck
27:23
Speaker 1: as well, and they are one mistake away from being poor.
27:26
Speaker 1: So get in the room with multimillionaires. We're gonna teach
27:29
Speaker 1: you the game the right way, so that way you
27:31
Speaker 1: could know that it doesn't take. It's not rocket science.
27:35
Speaker 1: You just have to have the right science, the right
27:37
Speaker 1: information to get to that next less. So it's about
27:39
Speaker 1: the information. Yeah, yeah, absolutely. What's the website again? Um,
27:42
Speaker 1: that is a Wealth Domination dot com. Wealth Domination dot com.
27:47
Speaker 1: You go there. We got it again specifically for breakfast
27:51
Speaker 1: Club listeners, so you'll be able to see all that
27:52
Speaker 1: when you go on there and sign up for the challenge.
27:54
Speaker 1: By the way, it's September to twenty six through the thirtieth,
27:57
Speaker 1: so it starts on a Monday, September twenty six through
28:00
Speaker 1: September the thirty years, so you really don't want to
28:02
Speaker 1: miss this. It's gonna be crazy. Last time we did it,
28:04
Speaker 1: we changed we had about eight hundred and fifty people
28:07
Speaker 1: in there or so. We changed so many lives it's crazy,
28:10
Speaker 1: like we've helped people. We just got a message from
28:13
Speaker 1: one of our mentees, Rosa. Shout out to Rosa just said,
28:15
Speaker 1: oh my god, I just made ten thousand dollars of
28:18
Speaker 1: one day from following the information that we got one
28:20
Speaker 1: of our mentees, Gregg Mary. He came out and said, man,
28:23
Speaker 1: I've been doing this like it's only been with two months.
28:25
Speaker 1: He said he made one hundred thousand dollars in a week,
28:27
Speaker 1: when he made one hundred thousand all last year. If
28:28
Speaker 1: we show you how to make money immediately in a
28:32
Speaker 1: pace where you felt like you're paying for you know,
28:34
Speaker 1: you pay for this mentorship, you gotta take these courses.
28:36
Speaker 1: But once you get to the end, you start making money. No,
28:38
Speaker 1: we show you how to make money during that time
28:42
Speaker 1: being who you are though, right, being who you are,
28:44
Speaker 1: ready start making money at that point. And the key
28:47
Speaker 1: thing that I want people to really take away from
28:48
Speaker 1: this is we're giving you valuable information for you. But
28:51
Speaker 1: I always say this, and I'm gonna repeat this every day.
28:55
Speaker 1: We're not speaking to you, We're talking to your legacy.
28:58
Speaker 1: We're using you as a vessel to talk to your legacy.
29:01
Speaker 1: Because that's what this is about. The information you get,
29:04
Speaker 1: you need to sit down with your family. You need
29:06
Speaker 1: to sit down with your wife, your husband, your children,
29:08
Speaker 1: because these valuable secrets we give into you should never
29:12
Speaker 1: die with you. Yeah, you should always understand. Don't keep
29:15
Speaker 1: the keys the combination to the safe for yourself because
29:18
Speaker 1: when you die with that plan, now you're leaving them
29:20
Speaker 1: to figure this out. So definitely gain this information, share
29:23
Speaker 1: it with your family. These five days you spend with us.
29:26
Speaker 1: You think this interview was something, There's so many players
29:28
Speaker 1: and games that we're still holding on and saving because
29:31
Speaker 1: we love to give value. That's what this is about.
29:34
Speaker 1: Knowledge is the one thing that you can continuously give
29:37
Speaker 1: away and never run out of. So why are we
29:39
Speaker 1: holding it? Why would we dare hoard knowledge? So I
29:42
Speaker 1: look forward to seeing everybody in there. You everybody all
29:45
Speaker 1: individual like Instagrams and Twitter. You can reach out to
29:49
Speaker 1: me Marvin at Marvin Mitchell Official. There's Marvin Mitchell Official.
29:54
Speaker 1: But be careful, y'all, no dots, those slashes. There's so
29:56
Speaker 1: many fake Instagram accounts out there. Just Marvin Mitchell Official. Uh,
30:00
Speaker 1: you can you can go to my website i am
30:02
Speaker 1: ashcash dot com, follow me on all social media platforms
30:06
Speaker 1: at i am ashcash, and make sure you listen to
30:08
Speaker 1: watch Inside the Bar, Inside the Vote, the Greatest money
30:11
Speaker 1: mindset showing the planet fash after my guys at y
30:14
Speaker 1: l u y l what was happening Yeah yeah, And
30:17
Speaker 1: for me, you can find me on Instagram at i
30:19
Speaker 1: am storm Leroy. You'll find everything about media. Start from there.
30:23
Speaker 1: That's right as ashcast storm Leroy and Marvin Mitchell, thank
30:26
Speaker 1: you for your brother, Thank you. I appreciate