Real Money Talks

Today we have a very interesting topic around making money.  Direct sales is an industry that has made many people billionaires and multi-millionaires. In many countries including the United States, it still has a stigma about it.  With me today is Janine Finney, who is an expert on network marketing.       Janine Finney spent the first 30 years of her career as a sales executive in Corporate America. Then, at the age of 50, Janine began a new career that she never expected to pursue, Network Marketing.  When Janine’s daughter, Lory, shared her desire to join a Network Marketing company after graduating from college, she quickly discovered that her mom had a very different opinion about this type of business than she did. Their strongly opposing views and the battles that ensued are what inspired them to co-author a book called, “The Flip Flop CEO”, which has sold over 100,000 copies.   Then, five years later, they wrote a sequel to their first book, called, “Does the Shoe Fit? The Guide to Help You Decide.” Janine believes that many women are searching for the freedom and flexibility that Network Marketing provides, but don’t recognize it because of the stigma and misconceptions surrounding this topic.  It has become Janine’s mission is to help others understand what Network Marketing is, and is NOT! We talk about why direct sales should be something you do or possibly add on to what you are already doing. We also talk about the misconceptions of network marketing.  Finally, Janine shares some practical steps for finding the right network marketing company for you to be successful.   Show Notes: [01:54] Janine was in the corporate world for thirty years and she realized that some people are not cut out for the cubicle world.   [03:47] After doing back and forth with her daughter for over a year she decided to check into network marketing.  She found that her negative experience was not the whole profession. [04:01] She went from the mindset of “I will never do this” to “I think, I was born to do this” very quickly after her research.   [04:47] Janine wanted to help change the stigma of network marketing so she wrote the book, Flip Flop CEO. Her second book Does the Shoe Fit was written to help others evaluate if network marketing is a good fit for them.   [06:16] Network marketing is a franchise in a box and it is so different than the perception of it.   [07:11] There are still so many misconceptions about direct sales and there are so many people searching for exactly what it offers but they don’t recognize it because of the myths. [08:29] There is also a huge misconception about the earning potential. Many professionals see direct sales as hobby money and it can be so much more.  [09:49] A third really big myth is that they assume that all network marketing companies are the same.                     [12:39] For people that are searching for a way to have more control over their future network marketing is an opportunity to have an online international virtual business in a box without the high price tag.   [13:46] For people that are looking for a way to have more control over their own destiny, this is a business that can be grown alongside what you are currently doing.   [14:07] People that are successful in business are successful in this business because typically they have time management skills, recognize a good income opportunity, and really understand it. It allows you to own your life, control, your time, and you can work on your own schedule.   [15:00] The flexibility and freedom are here and you can make as much and little as you want to earn.  The sky's the limit and there is no glass ceiling.   [16:46] This is a legitimate business that you can put a corporate structure around, do legal deductions, take business trips, and promote anywhere in the world. You can use a lot of higher strategies to build a successful business.   [18:25] Janine compares direct sales to joining a gym.  [19:31] Many people fail at network marketing because they don’t treat it like a business.  Do you put as much effort into it as you did your job? [20:21] There is a difference between direct sales and network marketing.   [20:36] The Direct Sales Association is a good place to go look at companies and find reputable companies.  Direct sales is a good option if you are looking for right now money vs. long term money.  [20:56] In network marketing you are typically building a network of consumers.  People are going to shop over and over again and that is how you can build long term money.   [21:21] Janine recommends looking for a company that provides consumable products if you are looking for long term residual income.  You also want to find something that you believe in and that you get hooked on yourself.   [22:03] She would give friends something that she knew they would fall in love with and that they wouldn’t want to be without.  She would tell them to use it for a week and if they didn’t like it they could give it back but when they did love it she would show them how to buy it at a discount. [23:29] Really think about your audience and circle of influence.  Who are you going to be able to provide a solution for? We are in the business of being a solution provider.  [24:07] It is important to find something you’re passionate about because then you are going to be able to do it authentically.  If you narrow it down to three companies, interview the people in the company and find out how they are doing the business. [25:21] Some first steps that Janine recommends are listening to their podcast, MLM, You Decide, and reading the book Flip Flop CEO. The Flip Flop CEO is going to give you a really good overview of what network marketing is.   [26:21] Seek out objective information that isn’t biased to one specific company. Links and Resources: Ask Loral App Loral on Facebook Loral on YouTube Loral on LinkedIn Money Rules Millionaire Maker Store Real Money Talks Podcast Integrated Wealth Systems Flip Flop CEO Does the Shoe Fit Direct Sales Association MLM, You Decide Podcast

In part two of our tax planning series, we are going to continue talking about getting our financial houses in order and ending the year strong.  We have Weldon Wulstein back with us again for this episode. Weldon is the CPA and owner of Wulstein Financial Services and Company.    Weldon is going to answer all your tax questions on the show today.  He shares about the future of the airline and real estate industries.  Then we talk about what you should be doing now to prepare for the end of the year.  We wrap up our conversation talking about flip accounts and retirement plans.  Show Notes: [00:48] The recovery of the airline industry is going to depend on travel. Business travel has mostly kept the airlines afloat but that has pretty much ceased.  [01:34] Private aviation is soaring right now. More companies will most likely buy their own planes.   [02:42] Weldon predicts that commercial properties around the tech industries are going to be suffering.  [02:56] If you want something to be deductible, get creative.  [03:01] Deductions have to be ordinary, necessary and have a business purpose to them.    [03:36] If you get audited you have to have the documentation to support your deductions.  If you don’t you can receive penalties and interest.  You often won’t be audited for several years so document on receipts why they are business expenses. [04:48] There will be a separation between elite airlines and discount airlines.   [05:43] Right now everyone needs to start by getting their accounting records up to date and in order. Then the next step is to do a review of the last three years.                    [06:21] After everything is in order then you can look at what assets to invest in for tax savings.  [07:12] The minimum documentation that you need to get together is a profit loss statement including total revenues and different categories of expenses.  Plus getting all tax documents together.   [09:36] This year it is really key to start preparations sooner than later.  Get your stuff in order early especially this year because everything is so far behind.  [11:25] The difference between the S Corp and C Corp is that the S Corp flows its income down to you personally or to the owners.  There are limitations as far as who can be an owner of an S Corp.  [14:25] Before hiring a bookkeeper, do a lot of research on what they have done.  Look at some of their other work and their process.  When you find a good person, talk to their existing clients and get their feedback.   [15:23] Be sure to visit our new calendar on the Integrated Wealth webpage so you can get a view of what we are doing month to month.   [16:01] Next week, Scott will be talking about entities.  [16:40] You need a retirement plan attached to a company so you can utilize those revenues to make your contributions.   [17:03] For the cost of a self-directed plan that amount of stock you can invest in compared to the traditional is incomparable.  If you are at an upper-income level you need to have a self-directed retirement plan. Weldon recommends a 401K.  [18:44] A flip account can be a great opportunity if the person really pays attention to their company and has its infrastructure in place.  [21:14] It is important to get a team and stop trying to do everything on your own then you can focus on your sales.  Links and Resources: Ask Loral App Loral on Facebook Loral on YouTube Loral on LinkedIn Money Rules Millionaire Maker Store Real Money Talks Podcast Integrated Wealth Systems Weldon’s Website    

We are talking about getting our financial houses in order and ending the year strong and start the new year off right. The end of the year is coming faster and sooner than we think, so the time to get everything in order is now.  We have a very special guest with us today, Weldon Wulstein. Weldon is the CPA and owner of Wulstein Financial Services and Company.    Weldon is going to answer all your tax questions on the show today.  He shares about the different tax deadlines and why you may want and need an extension. Weldon also talks about when you would convert an LLC to an S Corp and when a C Corp could be beneficial.  Then we wrap up our conversation talking about tax deductions and business trips.   Show Notes: [01:02] We are talking about getting our financial houses in order and ending the year strong and starting the new year off right. [03:20] We have a very special guest with us today, Weldon Wulstein. Weldon is a CPA.  [04:22] He has liked puzzles ever since he was a little kid. He looks at each different tax strategy as a puzzle.  [05:47] You need to get your books in order.  This includes your bookkeeping and entity structures now.   [06:36] In a normal year, your tax return is due April 15th for individuals, but it is due March 15th for any kind of business that sends a K-1.  You do have the option to extend those.  You can do an extension up through September 15th for the entities and October 15th for personal and individual.  [07:26] People often file before April if they are expecting a refund back.   [08:34] You should have your taxes in order every quarter and every month of the year.   [09:04] When or why would you move away from an LLC to an S Corp or C Corp?                       [09:38] You can convert your LLC to an S Corp.  There is a little more work, but then you can dictate how much money is paid through salary and how much is paid through distribution as an income tax.   [10:56] You don’t want to miss out on social security by not having an earned income.  [11:50] The minimum you want to pay yourself a year is $7,000 assuming you are making money in the company.  It is an individual basis.   [12:28] What is the benefit of extending? By October 15th they have usually selected those to be audited, so you have a slightly less chance of being audited.   [13:01] If you are investing in some of the alternative investments you’re not going to get your information to file a correct return until that date anyway.   [15:37] We are dealing with when you have too much money and your tax burden is high.  How you invest can reduce some of that burden. Weldon talks about real estate and oil and gas investments. [16:48] Real estate can be limited based on your income if you are not a real estate professional.  Oil and gas is not going to be limited.   [17:53] Taking risks really depends on your risk tolerance and what kind of investment you want to make.   Oil and gas is not an investment for everyone because you are not going to get cash out of it for a while.   [19:24] Gas and oil is a true supply and demand commodity.  We are always going to need petroleum products.  Weldon and Loral both think it will recover, but are not sure on the timing.   [21:31] As of right now PPE loans will be taxed to you on your bottom line. [22:29] Weldon doesn’t recommend transitioning to a C Corp but adding a C Corp to your repertoire of entities can be a very useful and beneficial tool to level as an income.  [24:55] Privacy is going to become really key.   [26:01] The operating entity is the most important one to set up first. Then the real estate company would be next and the third priority would be setting up the C Corp. For most people it works better to do these in phases.   [27:16] The rules for deductions is that it has to be ordinary and necessary and the primary purpose of that expense has to be for the production of income for the company.  [27:09] Business owners really need to change their mindset. Instead of saying this is not deductible, saying what do I need to do to make this deductible.  How do I have to treat this expense to make it deductible?  [28:19] For business trips to be deductible you have to document what you are doing, and why it’s a business trip. You have to be able to document the primary reason for the trip was for business. You need to keep some documentation.   Links and Resources: Ask Loral App Loral on Facebook Loral on YouTube Loral on LinkedIn Money Rules Millionaire Maker Store Real Money Talks Podcast Weldon’s Website

This last quarter gets super busy and we often forget what we need to be doing to wrap up the year.  We are going to use this show to talk about financial infrastructure. Today I am going to present a lesson on the basics that have to be done during the last quarter and mostly by mid-November.  We are going to make a checklist to walk you through the steps. Most of these end of the year tasks are nonnegotiable including tax preparations.   Your financial infrastructure is based on your entire life. In this episode, Loral breaks down the steps you need to start taking now.  She also talks about the highest financial priorities and changes you need to make that will have a huge impact on your financial infrastructure in the short and long term.   Show Notes: [01:21] There are a lot of exciting things coming up in the next month.   [02:58] You always need to be open and in a marketplace.   [05:35] Loral is going to present a lesson on what you need to get done this last quarter. [08:12] When the holidays land does affect your financial planning.   [08:45] Your financial infrastructure is based on your entire life.   [09:48] Right now you really have a chance to add extra revenue.  What is your income today and what do you want it to be in 2021? [10:21] You need a business on the side to make extra revenue and take deductions.   [11:12] Everyone should have their first entity by the end of the year.  In most states that is an LLC.                             [11:51] Many of us pay out of our personal account because our business isn’t making any money.  So you need to fund it and pay from your business account.  [12:34] Right now is the time to do a big check-up.  Where are your income and expenses? [14:39] Building assets is the highest priority.  You make it and invest it and then you make and spend to pay down debt. [16:22] Debt is critical.  You can’t be out here making new money and paying off debt.  You have to make it and invest it and start that pattern with your kids.   [18:02] Making money is your real answer.  [19:01] You need to have two banks that you are banking with, if not three.  She recommends a local small bank for fast cash.  [20:37] You should be meeting once or twice a year with a tax strategist.  [23:24] Look at your entity as a vehicle for moving income and expenses out of it.  Don’t close entities that are not in use. Save them for another time.    [25:44] Flip is a place for a bank, but it is one of your easy first investments.  [28:53] Start setting some financial goals now.    [30:06] Use our team for your infrastructure.   [32:44] Spend the time and money to do the credit repair if you need it.   [33:28] Your job is to focus on making money, investing the money, and leading your team. [35:56] Use this episode as a resource and listen to it over and over again.  The checklist will help you get organized and started.   [38:09] We are going to see more volatility this fall.  It will be a confusing time, but the market is going to move.      [39:29] Now is a good time to dump all the coins because the banks are taking them.  It is a great option to use the coins to start an account for your children.   [42:31] Next week we are really diving into entities including the details and the sequence.  Links and Resources: Ask Loral App Loral on Facebook Loral on YouTube Loral on LinkedIn Money Rules Millionaire Maker Store Real Money Talks Podcast  

As a general rule, those who typically become successful entrepreneurs are the people who come up with unique solutions to problems or challenges. This rule has continued to be proven true, again and again, in the technology space, especially as the world becomes more accustomed to the “here and now” provided by the increasing ease and portability of devices. Along with the innovation model, technology has enabled the “fast cash” model to start popping up in completely new ways. As a result, a completely new wave of start-ups have appeared that allow all of us to make money on the side with our spare cash, our extra space, or our vehicles when we’re not In this episode, Loral is talking about the Fast Cash Model.  Adam and Thomas share their wisdom as well.  We talk about ways for kids and adults to make fast cash.  We also talk about great ways to start making fast cash now and finish 2020 strong.  Show Notes: [02:57] What in your ask-tell-ask is right there and really quick.  [03:59] Fast cash is if you needed money by tonight. We need to have an urgency to cash. [04:04] If you keep telling yourself you don’t have enough to save them you will never have enough to start saving for retirement.  [06:19] Right around your community you could get fast cash. It is just trading time.   [07:05] Another place to earn fast cash is online.   [07:52] Often we avoid the initial sale because we want more money for the work.  It is a database building.   [09:59] Daily we are giving our stuff for free when someone would gladly pay for it.   [11:15] Listen to what people are saying. That is their problem.  People will always pay money to fix their problems.   [11:28] Consolidated information into a new bundle and selling it is brilliant and saves people tons of time.  People don’t have the time to find the information so they will pay you for it.                                [14:01] Twenty dollars doesn’t sound like much, but when you get ten or twenty people purchasing your product or service it really adds up.  20 dollars is nothing for people, but if you get $400 that changes everything.  [16:11] There is a value to paying.  The exchange of money creates the value.   [19:09] You're not starting with your big ticket item. It is like the end cap item at the grocery store to get the conversation started.  [21:22] Think about what your skill is and what you do everyday.   [23:52] When you're making fast cash it doesn’t necessarily have to be within your wheelhouse even.  [25:37] Adam shares a story about a guy that wanted to bring goodness to other people.  [28:13] He shares about how the guy had one million dollars in his bank account one week after filing bankruptcy.  [29:41] If you don’t have something to sell then be an affiliate.   [31:51] Inside your own dialogue you need to create the urgency to make money.    [33:01] We need to get out of the make it, spend it pattern and get into the make it, invest it pattern.   [36:35] Most of us don’t know what to look for because we have never looked at a deal before.      [37:10] Take this time to look at deals from an educational standpoint.   [38:26] You can do a lot of things to get your cash away from your spending habits.   [40:36] Check out the upcoming tables.   [43:01] The Virtual Meetup and Marketplace and Graduate Marketplace are coming up soon.  [45:15] The goal is for you to learn all these things so you are not strapped to a desk and someone else giving you a paycheck.   [47:47] Ask the question why because that why becomes an opportunity.   [49:31] We are heading to the finish line and there is a lot to do.   Links and Resources: Ask Loral App Loral on Facebook Loral on YouTube Loral on LinkedIn Money Rules Millionaire Maker Store Real Money Talks Podcast

We have a number of guests with us today. We have several of our top finishers from the Virtual Meetup and Marketplace in August, but we also have a very special guest, Joe Hamel. Joe Hamel is the president and founder of Hamel Advisory Services.  Many people have heard of self-directed IRAs but they don’t have them in place. It doesn’t matter if you have a lot of money to start.  Just put in $50 and get it going.  Once you start making money you need a place for the new money to go. There needs to be a place to put it away so you don’t spend it right after you make it.   In this episode, Joe shares the kind of qualified plans you can open. He talks about the differences between a traditional and Roth IRA. Then we finish the episode with Erin and Deborah sharing their success and top takeaways from the Virtual Meetup and Marketplace.  Show Notes: [01:54] It doesn’t matter if you have a lot of money to put in a self-directed IRA.  Start with $50 to get it going and so you have a place for the new money to go.   [03:19] A lot of people are waiting for some magical moment and that isn’t going to happen because you keep spending your Monday.   [04:04] If you keep telling yourself you don’t have enough to save them you will never have enough to start saving for retirement.  [04:17] An IRA is your own individual retirement account.   [05:00] Joe suggests having an IRA that is completely removed and not connected to your checking account.  It is important to start even if it is small amounts.  [07:54] When you set up a self-directed IRA you can inject capital through the form of contributions or the form of a rollover from a former or existing IRA.  [08:21] Depending on your age, the contribution limits do change. Right now $6,000 is the maximum contribution each year, but there are no minimums.   [08:55] The biggest difference between the Roth and traditional IRA is the taxation on those accounts.   [09:13] The traditional IRA is an account that has not been taxed on the front end. [10:50] You can always remove money, but there is an early distribution penalty prior to 59 ½ years.  [11:33] If you have not taken any distributions at the age of 70 ½ the IRS will require you to start taking at least the minimum distributions.  Once you are 70 ½ you can no longer make contributions to a traditional IRA either.  [13:42] On the Roth IRA you are going to pay taxes on the initial contributions during the first five years.   [14:54] The early distribution penalty applies to both traditional and Roth prior to age 59 ½.  [15:55] With the Roth IRA you are paying taxes upfront on the initial amount. With the traditional IRA, you pay taxes at the end.  [16:44] With the Roth IRA there is no 70 ½ requirement.   [17:44] The biggest difference between the Roth and the traditional IRA is the amount of taxes. [20:02] If you are no longer employed that money can be moved out of a qualified 401K account into a qualified self-directed vehicle of your choosing.  [22:01] The first step is just to take action and open the IRA account that is right for you.  [23:27] Roth IRA is a great vehicle because there are not taxes as long as you make your contributions and adhere to the IRS rules.   [24:44] You want to make sure you keep your retirement money in a retirement account and don’t use it for quick fixes.   [26:34] Solo K is a great self-employed plan. It is created for a small business owner. It functions just like a 401K would work for a major employer.   [28:15] The Solo K allows you to make contributions to both the traditional and the Roth. It also has the ability to take out a loan. [30:39] Instead of paying your children allowances you can make contributions into their Roth IRA. It is a great way to give your kids a jumpstart. [31:51] A flip account is a great way to save cash instead of a savings account. [34:38] Joe’s company holds everything in house as a custodian.  [36:11] They are one of the only custodians out there that are willing and able to accept some of the new and emerging asset classes.  [38:47] We have to complete the tasks on our checklist to actually see results. [40:27] We are going back to our Virtual Meetup and Marketplace for the rest of the episode. New options to join the Virtual Meetup and Marketplace or the Graduate Marketplace this month and in the coming months.  [43:01] Megan won the last Virtual Meetup and Marketplace. She made over $8600. We will be featuring Megan at another time.  [43:41] Erin was in second place and Deborah was right behind her in third place by only $20. [44:03] Erin sold $941 of her summit and her life coaching. Erin learned about marketing, the pitch, tax structures, investments, and how to grow her business.   [45:59] Prior to the Virtual Meetup and Marketplace, Erin was doing everything incorrectly and now her mindset has completely changed. [46:17] Deborah sold name drawings and logos and made over $800 and really built her momentum. [47:57] Erin learned to start selling now and not wait.  [48:30] Deborah learned that she had a lot of avenues already at her fingertips. [49:23] The obvious is right in front of you.  You just haven’t decided to monetize it. [50:58] Erin’s motto is “first the courage, then the confidence.” Have the courage to put yourself out there so you build up that confidence.  [51:49] Put yourself out there and stay the course.   [54:35] The two calls of action are to get a call with Joe and then get signed up for the Virtual Meetup and Marketplace or the Graduate Marketplace. Links and Resources: Ask Loral App Loral on Facebook Loral on YouTube Loral on LinkedIn Money Rules Millionaire Maker Store Real Money Talks Podcast Joe’s Website Three Feet from Gold  

On today’s episode, I am joined by Eileen E. Galbraith also known as the Credit Gal.  We are going to talk about your credit, business funding, and ways to fix your finances right away. Eileen E. Galbraith is your Savvy Credit Business Woman, aka The Credit Gal. She works with individuals and small business owners, specifically with those who are seeking to grow their business. Entrepreneurs hire her to maximize their capital because most are turning over couch cushions to invest in their business, putting their families, credit, and growth at risk. So, she positions them to get the money they need, protect their assets, and leverage their genius.  In this episode, we start out talking about personal credit because it is the foundation.  We talk about optimizing your own personal credit to build your business credit.  Eileen talks about beginning steps to make your business official so you can become a fundable and creditable business.   Show Notes: [00:58] Eileen E. Galbraith is your Savvy Credit Business Woman, aka The Credit Gal. [01:27] The very first thing you want to do is get a copy of your personal credit report and continue to get your credit report every year. 78% of credit reports are wrong.    [02:01] Your credit follows you everywhere.   [03:39] You want to make sure your personal data is correct and optimize these areas.  [04:02] After you verify your personal information you then need to check all your accounts are reporting properly.  [04:58] Once we have maximized your credit report, we look at if there are any ways to optimize your credit score.  [05:59] Your FICO credit score goes from 300 to 850.  [06:22] You want to make sure your business is fundable and creditable.  You also need to be incorporated around your EIN.  [07:28] Then open your business checking account using your business documentation and EIN right away.  [07:52] The underwriting guidelines say your business opened the day you opened your business checking account.     [10:12] 35% of your FICO score is how you pay your bills.   [10:55] Your goal should be to use less than 20% of the credit you have available.  [11:57] There is only one determining factor for business credit and that is how you pay your bills.   [12:50] You want to have a D-U-N-S number for your business.   [15:04] The beauty of business credit is that you can get the business credit lines and credit cards without personally guaranteeing them.  If someone comes to sue your business they can’t come after you on a personal side.   [16:58] Eileen recommends three to six months of reserves in your personal and business world.   [18:12] The more address you have listed on your credit report the harder it is for the underwriting to get your qualified.  The goal is to have two addresses.  [19:04] Your bank account should be set up in the name of your corporation. [20:36] Many use a personal credit card in the beginning before they transfer that to a business credit card and that can be used to verify funds.  [22:27] You can dispute anything that is inaccurate, misleading, or erroneous on your credit report.  There is a process to follow to dispute something.  [24:13] It does take time to reverse errors on your credit report.  Prior to COVID dispute letters had to be responded to within 30 days. Since COVID they have a 45-day window to respond back.  [26:37] When you join a network marketing company you want to start an entity as soon as you can. You also want to set up the business checking account and all the commissions should go into this account.  Any expenses should go through that same account. [28:04] You can text or call Eileen to book a free 30-minute consult at (610) 609-1526 or eileen@thecreditgal.com [28:55] Entrepreneurs don’t realize how important it is to establish their business in the name of their business and how much it can benefit them. It is something you want to start now instead of later because it is going to give you so many more options to grow your business.   Links and Resources: Ask Loral App Loral on Facebook Loral on YouTube Loral on LinkedIn Money Rules Millionaire Maker Store The Credit Gal Website Eileen on LinkedIn Annual Credit Report  

Every week we interview world leaders in different categories and in this episode we are talking about one of my favorites… cannabis.  We are going to talk about what’s beyond the mainstream.  Mainstream knows a lot about cannabis not only from a use standpoint but also from a financial standpoint. Cannabis is going to become one of the greatest asset classes many countries have ever seen.   Joseph is joining me in this conversation.  He has been in the industry since he was a teenager.  He is currently leading a huge project in Hawthorne, Nevada.   In this episode, we talk about the different types of cannabis including the classifications.  We also taught about the medicinal value and numerous medicinal benefits without side effects.  Joseph shares a ton of information that will be beneficial if you are considering adding this as one of your asset classes.   Show Notes: [01:04] Cannabis is going to become one of the greatest asset classes many countries have ever seen.   [01:49] Since you can’t learn about cannabis in college Joseph attributes his success to his great mentors.   [03:16] Joseph got to where he is today by having great mentors, working with great people, and taking the leap to work for himself.   [04:21] In 2009, he moved to Colorado to grow cannabis with his wife.  He wanted to create his own wealth.   [05:01] Once he learned about the huge medicinal benefits and the relief people received, his perspective switched and his business became all about helping people.   [06:47] The mainstream is not really talking about the medicinal value of cannabis including the ability to use cannabis daily without the side effects.   [07:40] There are over 450 compounds in these plants and they are still constantly learning more.      [09:21] Everything is a hybrid. There are many different varieties.  [10:51] They can grow hemp for fiber or grain or CBD oil.    [11:45] There is an observation classification (narrow-leaf or broad-leaf) and a drug type classification.   [12:58] Everybody is trying to find their place in the industry.   [14:38] Tricrops have fiber, grain, and CBD.  [15:36] The seeds have many uses including food and feed for animals.  [15:52] In World War II we needed rope and people were subsidized to grow hemp for the government so we could go to war.  Then it just vanished.  They changed the law and made it illegal.   [17:41] Cannabis relieves cravings and helps with addiction and withdrawals.   [18:20] Cannabis can replace that desire and addiction and you are functional.   [19:22] Joseph shares how cannabis has helped in his life with addictions and injuries.   [21:38] There is a ton of misinformation about cannabis.   [23:09] He shares about the impact on seizures even in children. Research in Israel is backing this up.   Links and Resources: Ask Loral App Loral on Facebook Loral on YouTube Loral on LinkedIn Money Rules Millionaire Maker Store Dr. Dedi Meiri - Cannabinoid research in Israel Robert Clarke  

This is another special COVID-19 marketplace awareness broadcast. We are the place to keep you up to date on what is going on in the market. Specifically for entrepreneurs who need to make money in this ever-changing time, come here with any questions you have and we will have or find the answers.  We will continue to bring you amazing experts that share their expertise and perspective on what is going on in the market today.  Today I am joined by Fuquan Bilal.  Fuquan is the founder and CEO of NNG. Fuquan Bilal founded NNG in 2012 with the principal mission of capitalizing on the growing supply of mortgage notes in the interbank marketplace. Mr. Bilal utilizes his 20 years of residential and commercial real estate success to identify real estate opportunities and capitalize on them. To date, he has successfully managed three private mortgage note funds that primarily invest in single-family performing and non-performing mortgage notes. His financial acumen and proprietary set of investment criteria enable him to purchase under-performing real estate assets at a deep discount of face and market values, thereby increasing the value of the assets. This, coupled with his ability to maximize the use of leverage, enables him to build strong, secured portfolios with solid passive income flows. Fuquan effectively hedges investors' risk by spreading their investment across a portfolio of alternative assets that diversify and stabilize the fund's return and valuation. In this episode, we talk about many different opportunities for making money in the current real estate market.  Fuquan shares about the trends and changes he is seeing in the real estate market. He also shares his out of the box ways to invest in real estate in the current market.   Show Notes: [01:13] Fuquan Bilal is the founder and CEO of NNG. [03:12] He took a leap of faith and left his corporate job and got into the house hunting business.  [04:20] He realized the power of real estate. One thing that really resonated with him early on was the power to go back into his community and revitalize communities by fixing up properties. [06:14] He went through a time of struggle because he didn’t have a good foundation. He had multiple streams of income but no cash flow.  When the market crashed, he started to restructure.   [07:43] The real estate investments he has are local where he has developed relationships already.  [09:12] Diversified hybrid real estate investing is having different asset classes in the same fund. He has his capital secured by different types of assets.   [10:32] Once COVID hit the landscape of everything changed.   [11:49] The real estate market is on fire right now. [13:29] He has noticed more New Yorkers moving to other areas and commuting in for work.   [14:38] Many new investors are pivoting to buy a lot and doing new construction since there are not many available properties.   [15:46] Manhattan will likely take a decline but will stand strong. [18:08] If you are participating in some of the programs they have for landlords now you definitely want to read up on the details.  You only want to use the money if you need it.  [19:47] Unfortunately many businesses didn’t make it to the other side.  [21:32] Grab Fuquan’s book, Passion for Real Estate Investment.  [23:02] The note business is the best investment strategy in the universe.   [23:37] Check out the coming Virtual Meetup and Marketplace. It is the teach you to fish model that you will never starve again once you learn our techniques.     Links and Resources: Ask Loral App Loral on Facebook Loral on YouTube Loral on LinkedIn Money Rules Millionaire Maker Store Passion For Real Estate Podcast Passion for Real Estate Investments Fuquan on LinkedIn Fuquan on Twitter Fuquan on Instagram Fuquan on Youtube Fuquan on Facebook  

This is our special COVID-19 market awareness broadcast. We have been broadcasting since the beginning of this new journey and the new world we are living in.  We have been talking about becoming an entrepreneur and what to do with your real estate and money.   Unfortunately, it is not going to get any easier.  Going back is not going back to the way we know it.  So much has changed.  It is a great time to reset your life and figure out who you want to become.  Raymond Aaron is joining me on the show today.   Raymond Aaron has committed his life to teaching you how to dramatically improve your life. Raymond transforms your life and income by helping you tap into your own potential. He has traveled the world delivering over 5,000 speeches in 5 continents for over 1/3 of a century teaching his unique methods to brand, doubling your income, and creating wealth. He is the author of 138 books, including Branding Small Business For Dummies, Double Your Income Doing What You Love and the New York Times best-seller Chicken Soup for the Parents Soul and the Canadian best-seller, Chicken Soup for the Canadian Soul.  In this episode, we talk about many different opportunities for making money in the current market.  We share what we are seeing with real estate. We spend most of the episode talking about the importance of branding and how writing a book can enhance your brand. Show Notes: [01:42] It is a great time to reset your life and figure out who you want to become.  [03:12] Raymond shares about his journey.   [05:13] He has been teaching real estate, true-life principles, true wealth principles, branding, book writing, and goal writing for 37 years.   [06:56] They pivoted to online events, but they also had a back-up plan. They joined a network marketing plan as their back-up plan.   [07:24] If you are in network marketing right now, you are earning more money than you have ever earned in your life because now people have been buying only online for the last four months.   [09:25] Raymond predicts that retail real estate is going down and won’t recover because people have learned to buy online.  Office real estate is going down because owners are thriving without an office.  [11:09] He recommends getting into the courier business.    [12:43] The pandemic is the only thing that has ever affected the whole world.   [14:01] Every category is open to making money right now.  There is so much to buy right now. [16:01] There are no differences in the Canadian and American markets economically. Canada is different in many other ways.    [18:19] More entrepreneurs can be born out of this time and more wealth will be transferred for those who are paying attention.  [20:59] Whatever you want to start you must be branded first otherwise you are drowning in the sea of sameness.   [21:13] When you are branded by writing a book the world stops and salutes you. [22:29] Writing a book is the easiest way to brand yourself. You don’t make the money by selling the book.  You make the money when the book sells you.   [25:26] The brand determines how much money you earn not your abilities.  [27:26] It is easier to become a #1 best seller on Amazon then the New York Times.   [30:22] There have been so many creative ideas since the pandemic started.    [30:52] Raymond will be teaching about the 31 marketing messages that need to be hidden within your book.   [31:19] It’s the marketing that drives the sales, not the actual quality of the product.   [32:26] Raymond teaches how to get a book launch and have the publisher pay for it.   [34:54] Loral talks about how she misses flying to some of her favorite places in the world.  [36:42] There is a problem when people haven’t walked the walk, but they think they can talk the talk.  You need to walk the path before.  [37:35] Loral’s favorite insight was “that the world has been punched in the face.”  [37:56] You need to land on the right side of this rebalancing of the economy.  You need to be understanding of how to find these deals and what to look for.  [39:29] Right now is a perfect time to be a solution provider and help businesses with what they need.   [43:41] Check out the Virtual Meet Up and Marketplace and the Graduate Marketplace.  Links and Resources: Ask Loral App Loral on Facebook Loral on YouTube Loral on LinkedIn Money Rules Millionaire Maker Store Raymond’s Website