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So the big question is this, what would you do if money didn’t matter? So you had millions in your bank account, what would you focus on? Would you spend more time with your family, with your wife, with your kids? Take family vacations.

Would you pursue your gifts and talents and dreams? Serve your local community, teach others, serve your church. You see if what you would do if money didn’t matter, it was pursuing your gifts and talents and dreams to serve others, and that is probably what you should be doing.

The problem is most people are in the rat race, living five inches in front of their face with no time to pursue what they were born to do. That is the problem, and the solution is to develop enough passive income to replace your working income so you can quit your job and be free to live your life the way you were created to.

That is a solution and this podcast will show you how…

Hey, what’s up guys? This is Ryan Enk. Welcome to another awesome episode of Cash Flow, Dad Life!

Today. I’ve got something really special for you, a little mind fuel. Have something for you to think about. I’m going to be going over the six pay days of real estate. Now. Before I start, I want to read the review of the week.

The review is actually nice and short and sweet. It says, “Ryan, for president,” by Cincinnati wholesaler. “Cashflow is the key and Ryan is a locksmith. I’ve learned so much and just the early inception of the podcast. Can’t wait to learn more…”

Thank you so much Cincinnati Wholesaler. Really appreciate that…

Ryan Enk for President I don’t know if I’d want to run for president though. It looks like a miserable job, but at any rate, thank you so much for the review. Just a couple announcements before we get started. On the six pay days of real estate, we do have a few more spots left open for the cruise coming up November…

So if you’re interested in going on the cruise, it’s designed to give you the fast track to financial freedom. It’s a fun way to do it. It’s like a four day cruise. The actual training is two days when you’re on the sea and uh, we’re going from New Orleans to cozumel.

Be a great time. So come hang out and check that out. If you still want to get on there is still space…

So go onto https://www.cashflowdadlife.com/cruise and you can book your financial freedom tickets right there. Okay. And the last thing is please guys you know, if you’ve been enjoying this podcast, if you’ve gotten helpful information from this, leave me a review and give me however many stars you feel like giving me, but five would be like a great number…

And if you leave me a review and make sure that your, your information is included on that, then I’m going to send to you a free copy of my book that I have coming out.

Now guys, this book, I’ve read a lot of real estate books. Okay. I’ll probably read over 150 real estate books and a lot of it is fluff. A lot of it is theory in this book gives you everything from mindset and skills and strategies, and I put it in this framework…

What if you had nothing right? What if you’re left with no money, no credit, no, no experience in real estate. What would you do in order to make $10,000 in less than a month? So the title of the book is the seven day real estate survival blueprint, how to create 10,000 out of nothing in less than a month…

So not only do I show you the exact steps by the hour of what I would do in seven days to do this, but I also give you the way to set yourself up for the long term to create passive income so that you can switch from going from survival to actually living and living a life of purpose and being fully alive.

So you don’t want to miss out on that book. So leave me a review and a and I’ll send you a copy for free. So let’s get down to it. The six pay days of real estate today is a celebratory day for me because one of my properties, I’m going to close on it and I will cash in on a $41,000 check.

I don’t say this to Brag, but to reflect and to demonstrate to you the power of the real estate payday because I remember, I think it’s important that you never forget where you came from. And I remember my first job out of college is it just wasn’t enough money. I was a teacher making $24,000, $24,500 a year and who can live off of that?

I certainly couldn’t. I’m eating cream of wheat and ramen noodles almost every single meal to try to afford living…

And so what I tried to do is I try to create more paydays for myself, but I hadn’t shifted my mindset yet to say, all right, let me not work hard. Let me work smart. Let me create passive income streams. So what I went out and did is I tried to create other paydays for myself.

So the first payday was teaching. And then, I had to drive a bus for an extra $5,000 a year. Um, so that was the second payday. And then coaching two sports was another payday. And then I went to my church and got a job as a part time youth minister at. That was my fourth payday.

music for churchMy fifth payday was…I actually played the music for the church and I got paid to do that. So that was my fifth paid and my six paid is I started trying to get my real estate license to see if I can garner some sort of real estate checks…

So I had six paid days. Um, when I first started out in those all required me to exchange my time for money and I was worn thin. I was exchanging my time, I was stressed out, I was always on the go, always on the move. Never any time to relax or enjoy life.

Okay. So fast forward to today is I’m getting a check for $41,000, which is way more than I was making that first year where I was putting in 12 hours a day. And on this property, 41,000 is what I’m getting paid today, but on this property I’ve made chunks of cash on it by using lease options.

So I made 20,000, I made 30,000 and then I made $40,000 on top of that, I was cash flowing between 200 and $800 a month on this property altogether. I’ve been paid about $184,000 on this…

Just this one property that became a cash cow. And this property literally I have spent one hour on probably my entire life, a $180,000 for one hour worth of actual work going out, listing it, marketing it, that sort of thing. Okay? So let’s talk about how you can take real estate and use this as a tremendous vehicle of passive income.

And let’s talk about the six passive income pay days you can have with real estate…

Now, this doesn’t work with all real estate. It works with a very specific strategy that I teach. So number one, the first payday you get in real estate is when you buy low and sell high. It’s your equity payday. Now, this doesn’t happen with all properties, right? You have to buy low. This is what people who are flipping houses do, okay, they buy something low, they try to fix it up, and then they sell it high.

Now, I don’t depend on this payday, but this is definitely a strategy that you want a, if you’re going to get started in real estate investing, is you want to buy low so that your first payday happens with the equity that you have in the house. When you do finally sell the property, you’ll be able to cash out on that equity. All right?

The second payday is cash flow. So you have, um, you have monthly rent, right? So say you owe $800 a month on a property and you’re making $1,800 a month in rent. So that means that your cash flow is that 1800 minus 800 is a thousand dollars a month. So you’re getting paid on that monthly passive income cash flow.

You’re not doing anything, you’re not breaking your back and driving a bus and teaching for eight hours a day in order to make that thousand dollars. You were just getting it every single month in your bank account…

Excuse me, and the third payday for real estate is what’s called amortization. So the difference between rich people and poor people is that when rich people acquire debt, they get other people to pay it off for them. Whereas poor people, when they acquire debt, they pay it down themselves.

property loans Well real estate allows this specific situation because if you purchase a property with that, with a loan, that loan is what’s called amortized…

So every month you have a. say it’s a $800 a month. That is your note per month. Every month a certain amount is going to be paid towards the principal and a certain amount is going to be paid towards the interest…

So it could be that $200 gets paid down on the loan and $600 gets paid in interest and as time goes by, the principal amount per month increases and the interest decreases…

So what you have is you set up a situation, say you, you bought a house for $200,000, you have a situation where the renter is actually paying that $200,000 down, five years from now, you could only owe $150,000 on that particular property just depending on what the interest rate is and what the loan amortization is.

So, that is your third payday and real estate is you actually have somebody else growing your equity by paying down your debt. And the fourth payday in real estate, which I never buy depending on this, and this is actually how a lot of people got burned back in 2008.

But the fourth payday is if the market value appreciates. So say you bought a $200,000 house and you know, there’s two things they’re not making any more of and that’s time and land.

And as demand increases, as the population increases. So does the values of property. So historically real estate values do appreciate. So you could have bought something $200,000 last year that appreciate it to $250,000. That is your fourth real estate payday on the fifth is a, it’s not really a payday in a sense that you’re getting paid money for it, but it, it, it’s keeping the money that you already have and that’s that real estate allows you a tax cushion so you can on your books.

Now, I’m not an accountant, but real estate depreciates like you can have book depreciation, not in reality, but uh, on the books, accounting books, your real estate can depreciate and that depreciation you can write off on your taxes. So if you’re making money in one area, you could probably offset.

And oftentimes I do offset some of the income I make on other things by the depreciation in the real estate, which is super awesome…

And the sixth incredible payday in real estate…and this only comes if you use the lease option strategy or the owner financing strategy. So if you own a piece of real estate, instead of just leasing it out, you can do a lease option or you could own or finance it on some sort of a bond for deed or deed in lieu and that down payment can become your six payday of real estate and it can be extremely powerful.

So whereas like on this particular house today that I’m making it $41,000 check on in the past, I made a $20,000 check on it and then a $30,000 check on it and a $40,000 check on it.

Whereas a normal situation by my amortization payday, it would have been paid down about 30 grand because of me using this strategy in a very short amount of time. It’s been paid down over 100 grand because of the options that defaulted on it.

six paydays real estateSo this is a very unique strategy in real estate and amazing way to get six paid days in real estate. And this is something that I do teach and you can check out some of the resources that I have on my, uh, on my website cashflow dad life if you’re interested in learning more about it.

But that’s it guys. Compare that to how I first started, where the payday was teaching all day long, then driving kids around in a bus and then coaching two sports and doing youth ministry.

Then playing music and trying to get my real estate license and showing houses on the side. This was way better. It took one hour. I made over 100 grand on the property, uh, almost 200 grand on the property and literally only an hour of work and the entire time that I’ve had it, six paid days, six passive income payday.

So if you have not gotten started looking into, see what you can do today to get started in real estate, I promise you it will be worth it for you to do this in the long run. All right guys, take care. Hope you enjoyed that episode…

Thanks for listening. Please remember to rate and subscribe. You’re going to want to listen to every episode as soon as it comes out. It hasn’t been an idea or strategy that can literally change your life.

Listen, don’t miss out on the free investor pools that I have on my website https://cashflowdadlife.com/. So go to https://cashflowdadlife.com/ gets a free swag and lists and hit me up. If you want to talk about how we can get you out of the rat race as soon as possible. Until next time. My name is Ryan Enk and this was Cash Flow Dad Life!

 

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