Ep 18 - Building Your Financial Freedom Plan With Financial Advisor & STR Host Alan Franks

GUEST BIO

Alan Franks is a Certified Financial Planner (CFP) and is the owner of The Mill Financial Partners. With each of our clients we discuss building wealth through real estate, and share my experience being hesitant about being an Airbnb host until he joined Mike's Short Term Rental Secrets Mastermind. Now Alan's helped clients purchase their dream mountain homes and beach homes all while building their net worth and increasing their cash flow.

HIGHLIGHTS OF THE EPISODE

04:55  Alan’s introduction

05:51  How Alan started until where he is now.

10:39  What Alan regrets not doing.

15:57  People blending work and vacation.

19:46  Alan’s experience on having a blended portfolio.

27:22  What were the fears that Alan had coming into short term rentals?

30:34  Are you seeing more people in the financial planning space, bringing on vacation rental as part of the real estate side of portfolios?

34:02  How much does it cost you to live your lifestyle right now?

42:53  Is talking about good debt easier to have a conversation with other people nowadays?

46:06  What is Alan’s no. 1 secret for success from building cash flow and wealth.

50:54  Where can people get in touch with  Alan Franks?

NOTABLE QUOTES (KEY LESSONS):

“Having some sort of software that helps pull everything together is really just a dynamite start to getting on the right track financially.” - Alan Franks

“People spend money they don’t have on things they don’t want to impress people they don’t like.” - Will Rogers

“With the right systems; maybe it’s not a couple of hours a year, maybe it’s a couple of hours a week, But I’ll take that all day.” - Michael Sjogren

“The ability that we can go borrow somebody else’s money to buy an asset that we otherwise could not own by ourselves is really awesome.” - Alan Franks

“I don’t think we’re ever gonna get back into the long term rental game. I think it’s gonna be short term rentals from here on out.” - Alan Franks

“If you really want to be financially free, just do this thing and it will happen very quickly.” - Michael Sjogren

CONNECTING WITH THE GUEST

Website: https://www.themillfp.com/

Podcast: https://open.spotify.com/show/4d4R29uErSgGBd001mpDY6

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