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CDL 54: You Can’t Get Rich When You Feel Poor With Corey Durkin…

Cash Flow Dad Life

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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…

Ryan Enk:                          What’s up everyone? Welcome to the latest episode of Cash Flow Dad Life. I’m stoked for this guest today. Please welcome. If you’re just sitting there in your car, I guess just clap your hands or whatever, you know. Welcome Corey Durkin. Cory Durkin…he’s got a new book out called, You Can’t Get Rich If You Feel Poor.

Ryan Enk:                          And I love this concept, but let me just give you a little bit of a background on Corey. Corey is a speaker, he’s an author, he’s a podcaster, he’s an angel investor, he’s a musician. He drinks a crap load of coffee and about 17 other things…

Ryan Enk:                          One of the things that he believes is that when he’s dead…though, he does use a therapeutic pillow when he actually does sleep, is that he will sleep when he’s dead.

Ryan Enk:                          My dad used to have this phrase when we went on vacation, “sleep is for wimps,” and he still says that although he falls asleep watching a movie at 9:30 pm on a weekday.

Ryan Enk:                          I love it. He’s, he’s a incredibly high on life and entrepreneur and one of the main reasons, although he does, he does a lot of stuff and especially he’s dabbled in real estate more specifically the short term rentals…

Ryan Enk:                          One of the reasons I really wanted him to come on the show is because of his new book that he has called You Can’t Get Rich If You Feel Poor.

equipement camping mindsetRyan Enk:                          It talks about a certain mindset.

Ryan Enk:                          And what’s so special about this concept is when I first got started in life after I got married is I listened to a lot of Susie Orman and Dave Ramsey and I know a lot of people are really big fans of theirs. And I’m actually, I love some of the concepts they teach as well.

But what they teach is this focus on your expenses and your debt…

And you know, when you’re focusing on just, “Hey, I need to get out of debt. I need to get out of debt. I need to get out of debt,” you’re not focusing on living life abundantly.

So it was actually a real struggle for my marriage because, you know, I’m sitting there making, you know, I’m counting the number of sheets of toilet paper and my wife is, you know, she’s having to cut coupons for the groceries and just wasn’t a way to live. It wasn’t like we weren’t willing to make sacrifices.

I was riding my wife’s bike to work for crying out loud…

We were ready to make sacrifices, but the focus was on getting out of debt and not necessarily living abundantly. So, um, so this is the, I really wanted Corey to come on the show to really touch on this. Um, and of course, if you could kind of tell me a little bit of your backstory. I think probably, I’m sorry, rewind.

One of the most fascinating things that I know about Corey is that when he was in high school, he dropped out of high school and he did this by preparing a powerpoint presentation for his dad.

And, Corey, I think if you could start us with how that went, that would be awesome…

Corey Durkin:                  Absolutely. Well, Ryan, thank you so much for having me on the show. I listened to your show. I think it’s amazing. I think you do such a great job with pulling really valuable actionable nuggets and insights and stories out of your guests. And I’m honored to be here.

Corey Durkin:                  So thank you for having me…

Corey Durkin:                  First of all, uh, you know, yes I was, I was 15 years old and I did indeed set my father down with an 89 slide powerpoint presentation to convince them to let me leave high school and I didn’t know it at the time, but it was actually a pretty much the most important sales a sale that I ever made in my entire life.

Corey Durkin:                  You know, I had to make that sale…

Corey Durkin:                  I was a good student. Um, I was, you know, straight a’s and I had to cheat a little bit in math, but I made it work. Um, you know, it was just ironic, but I’m in, you know, financial education.

Corey Durkin:                  But anyway. Well my father was an entrepreneur so I grew up in this idea of there’s no ceiling, right?

Corey Durkin:                  I grew up in the understanding that, you know, the more action that you take is equal to the amount of money, abundance influenced that you can have and the more people that you can serve, right?

Corey Durkin:                  Money is just a, it’s just a scoreboard for the amount of people that you’ve helped. You know, and I realized that I did not want to trade hours for dollars and so I sat my father down within a 90 slide powerpoint and I gotta tell Ya, he almost killed me that night. I, I’m lucky to be alive today.

Corey Durkin:                  Okay. I really am.

Corey Durkin:                  It probably made way too much sense for them as an entrepreneur.

Corey Durkin:                  It did. But he was like, “Man, I just, I thought the kid was going to go to college and be a lawyer,” and you know, I mean, he was, he was, you know, there was a little bit of consternation, you know, let’s put it that way. It wasn’t, it wasn’t the easiest sale, but I eventually, you know, it took, it was a, about a 60 day sales cycle. I didn’t make the sale right then, you know, I had to say, you know, nurturing the prospect and kind of moving right now.

Corey Durkin:                  So what were your sale points for? I mean, what were the reasons that you gave him?

Corey Durkin:                  Well, um, well at the time actually, you know, a long before becoming a speaker and author and running the training business that I run in Connecticut, um, and any of the other stuff that I’ve done and do and that’s why I don’t sleep that much and that’s why I drink all of this coffee right here.

Corey Durkin:                  Um, you know, I want it to be a musician. So I actually, my plan actually was to homeschool myself for 11th and twelfth grade and then apply to Berkeley College of music in Boston and go to music school.

Corey Durkin:                  I was a guitar player back then, now I play everything but in a good guitar is still my first love. And, and um, and uh, and so I thought I was going to be a musician.

Corey Durkin:                  So when I left school, one of the things that I started doing was I started touring a around the east coast in. I was playing like borders bookstores and I was playing college shows for like a hundred and $50 at and the Bryn Mawr community cafeteria with terrible, you know, but I was learning, right?

Corey Durkin:                  Like I was like getting on the phone. I would call up starbucks.

Corey Durkin:                  50 bucks. Yeah. Yeah. The colleges and payment on the port and the borders. The borders wouldn’t pay me in the star ocean paint, but I play for tips. So if I was like between Delaware and trying to get back up to Connecticut, um, you know, if I play the starbucks Gig and I, I made 45 bucks, that was my tank of gas back home.

Corey Durkin:                  So that was, that was, I mean literally like it, you know, and I was using couchsurfing.com back in the day actually. Wow. Oh yeah. Way before, way before airbnb.

Corey Durkin:                  So, um, so that was my plan and, and, and, and thank God that I did that because Berkeley would have been 60, 70 grand a year by the time it was all done.

Corey Durkin:                  I would have gone for audio engineering, uh, being in the studio. And I very quickly realized after doing some work in studios around here and in New York City doing some, just kind of sitting in and it was work.

Corey Durkin:                  I realized I hated it. I realized that I was not technical, I was not a math guy. And you have to have that if you’re going to be sitting at the board all day long, tweaking the knobs and a lot more trouble here and a little less space here and it’s 30 megahertz.

Corey Durkin:                  And I was like, no, I just want to write the songs. So thank God I figured that out when I did and because I was so, so then I was like, then I was like, oh my God, I totally screwed this up. Like my dad was breaking his ass to send me to a college prep school.

Corey Durkin:                  We, you know, at the time that, you know, things were, you know, it was tight. Right. So like that was a big deal and I basically like I realized that as a pretty good student and with a pretty good springboard.

Corey Durkin:                  I had like thrown that all away to be a musician and oh my God, I don’t even want to be a musician. So I was like spiraling down like 15 years and this all happened within like a year, like within like six months of this, I was like in a very deep like spiral of fear and anxiety.

Corey Durkin:                  And just terrible, um, and uh, you know, and I was 15 so, you know, hormonal too, I don’t know. But anyway, so, so, so, so, so during that time, I, uh, I, you know, when you’re on the road as a musician, you have a lot of downtime. Most of it’s not playing shows.

Corey Durkin:                  Um, and uh, and so I was, you know, this, this was around the time where I learned like, you know, don’t rent a hotel, that friends by the hour type of thing. Like yeah, you learn a lot of lessons on the road when you’re that age.

Corey Durkin:                  Yeah. Who knew that this was. And this was back before, this was back when not all hotels had wifi and in fact were, a lot of them had it but they would charge you like 20 bucks a day.

Corey Durkin:                  So I would actually have to go down to the hotel desk clerk and like tell them my story. It’d be like, listen, I’m like 16. I’m 15 years old. Like I like, you know, like I need, can you give me a break on the Wifi because I need to like get my email or whatever.

Corey Durkin:                  Like they always like I was hustling and brow and um, and so I would get the Wifi and I, and I always loved marketing. I was around sales, my father is an entrepreneur and I started learning Internet marketing. So I started, um, you know, uh, affiliate marketing, selling other people’s products.

Corey Durkin:                  I didn’t have products of my own but I figured out how to do seo and get recites ranked for certain things in the keywords on Google. And I realized, oh, that can drive traffic that way.

Corey Durkin:                  And then I started to learn how to use Google ad words, um, and, and how to buy, buy keywords on Google and send traffic to doing affiliate marketing. And like I just, I’m not super technical but I have, I think I have a pretty good, like a in terms of like what, what people really respond to.

Corey Durkin:                  You know, it’s like I’m a very genuine person and even 15 year old me was like kind of very tapped into what people respond to and, and, and people want to be spoken to and they want to relate to people who really understand where they’re at.

Corey Durkin:                  Um, and I think that that was one of the main keys to my ability to kind of scale those campaigns and to really create content that would get ranked in Google and, and um, and I love people, you know, so, so that was, that was a big deal.

Corey Durkin:                  And so I had this affiliate marketing business and I just like, I’d figured out how to scale it and I started outsourcing and hiring people in at the time the Ukraine was tremendous for, um, for, uh, for outsourcing talent, uh, it is not as good as it used to be. Um, but, uh, but it was then certainly so.

Corey Durkin:                  So as in like three years I like built up a, a huge, you know, business and made a bunch of money and you know, I was like, this is incredible and I was able to play music, I was able to make records and you know, do what I wanted and you know, make music videos and now.

Corey Durkin:                  And it was, that was, was a very interesting three years post high school that I could never have expected for high. So what did you get started with real estate? No, no worries. I, I, uh, real estate happened for me. I’m probably about probably about age 20, so probably about two years.

Corey Durkin:                  So I see. I had a point where I hit a point where I was, I had made a bunch of, made a bunch of money and I didn’t spend it. I’m like a weird dude. Like all I want to do is watch reruns of match in the West Wing and like go to concerts and like make music. Like I have a studio in my house and like, like I love it. Like I love making music.

Corey Durkin:                  I just got the cover artwork on a new album that I’m putting out. Um, we got it back this morning, which is really exciting and sent off the last song to be mixed like I have it can have fun.

Corey Durkin:                  And I was like that even back then. So I was 18 and I was like, you know, what should I do with this? Like with my money because I wasn’t going out and blowing it. I wasn’t partying, I’ve never had a drink and never had a drug. Like I just want to make music and like do cool stuff.

Corey Durkin:                  So I started asking the question of people like, what, what should I do with my money? And they all said, well just give it to the bank and hope they get you a good return. And it didn’t fit for me. I like that idea didn’t fit for me because to me it was like too conventional.

Corey Durkin:                  It was too conventional. It is Kinda like, you know, western medicine, like the doctor can’t bill me if he can’t find something to cut out of me or giving me a pill for it.

money resale prices loan managing cash flowCorey Durkin:                  And I was like, you know, like I think maybe I could figure this out on my own, you know, in terms of managing my cash flow, you know, how much is used a scale, the business, you know, how much is put into certain asset classes, you know, like where, where am I going to allocate my funds because I realized that making money was only the first part of it, you know, and obviously the Cliche, the second part is keeping.

Corey Durkin:                  It will have to update that cliche eventually. But for right now that’s where we’re at, you know? So I figured that out. And, and obviously real estate, it was one of the things that I kind of identified as a great way to, at the very least not lose the money, the very least a way to park the cash and keep it bare minimum.

Corey Durkin:                  One of the best heart. Hard to screw that up. If you know your numbers, which you and I have talked about, this is just a map. It’s just a numbers game, right? You know your numbers, there’s a million of them.

Corey Durkin:                  There’s a million new investors that come into the market and they get so excited and they don’t even know how to do a simple math problem…

Corey Durkin:                  So if you can figure out the basics. And again, I’m not good at math. I really am not good at math at all is I’m very, very not good at math. I just wanted to make that very clear. Okay.

Corey Durkin:                  I’m not a numbers nerd. I was at a, I was at a, a trading event in Vegas last week and my God, those guys run circles around everyone in terms of like, it just looking at their charts and making quick calculations and doing the numbers in their head.

Corey Durkin:                  I’m like, you guys are way. I mean I was a good student but y’all are like, you’re running, you’re running circles around me with some of this stuff. And so. So I had identified real estate as one of the ways to do that.

Corey Durkin:                  And so, you know, about, you know, probably at the age of 12 probably like, yeah, probably like just before I turned 21 is when I started doing real estate and, and um, and started getting into, you know, like some of the basics that people get into like, okay, like buy a Condo, you know, rent it out, look at, okay, how does it feel to be a landlord?

Corey Durkin:                  You know, like, do I really like it? When do I really like it when my, uh, my tenant calls me at 11:00 PM, it says my hot water heater broke or the plumbing’s this. And I’m like, yeah, okay.

Corey Durkin:                  Like, that’s maybe that’s not as much fun. Um, you know, and so for, you know, it’s, it’s real estate to me it’s one of those things where it’s, it’s if you know your numbers and you’re patient enough and you try a couple of different areas of real estate investing, you can get very good and scale. It’s not as sexy sometimes as other things sometimes, but if you, you know, you know, because some people will say, well I’m a real estate investor, so.

Corey Durkin:                  Okay, well what kind of real estate like, you know, there’s a million different ways you can be real estate investor, you know, and so I think that, um, one of the things that I tell people who really want to get started in real estate to begin with is to say, listen, you got to, you got to understand what the cons, the numbers are gonna work.

Corey Durkin:                  If you follow the numbers, whether it’s in buy and hold, whether it’s fixed and flip, whether it’s apartment buildings, whether it’s short term rentals, like the numbers for each market are going to be the numbers and those aren’t going to change. However, there are very, very specific negatives to every single one of those.

Corey Durkin:                  And depending on what you want your lifestyle to be and depending on, you know, really, I mean, you know how much time and attention in detail you want to put into it versus paying somebody to go find the deals for you or paying a property management company that’s going to really determine where you’re going to look at your focus within the real estate world.

Corey Durkin:                  It’s just like trading this Vegas Vegas skies that teach for x, they teach options, they teach commodities, they teach crypto. I mean, there’s a million different sub niches within real estate and, and you know, I think that a lot of people jump into real estate investing and just go.

Corey Durkin:                  I like the idea of being a real estate. It’s one of the oldest things that never loses value. It’s, you know, like that’s a great place to park my cash and they never like really look at some of the particulars in each of those.

Corey Durkin:                  The sub niches. So, you know, so for me, I decided, hey, you know, what I really love, I really love not having to do a lot of work. I really love, like not feeling like I’m highly leveraged because I just bought three foreclosures in Bridgeport, Connecticut.

Corey Durkin:                  And God, I hope they sell because otherwise I’m looking at, you know, three mortgages a month for a year and that’s not fun and that feels terrible.

Corey Durkin:                  So, you know, I, I realized that I’m going the way of a short term rental was a short term rental game, was a lot easier and just fit more with my, um, with sort of my ethos in terms of, you know, being in real estate.

Ryan Enk:                          Awesome. Awesome. Well tell us, tell us a little more about this concept of abundance now. There’s a very popular teachings out there. Sure.

Ryan Enk:                          That, that has to do with save your money, put it in your 401k, you know, that sort of thing, you know, save where you can’t.

Ryan Enk:                          Like when did you realize what, what did you see and when did you realize that that was not the best approach? Like what, what were some of the problems that you were seeing out there?

Corey Durkin:                  Sure. Well, I mean the first, you know, when, when I was, when I was 18, so three years after I left high school and I was starting to ask the question, what should I do with my money? Where should I invest it? You know, that was the first stuff that I came across, which was like, you know, again, it’s like the stuff that’s been out there forever.

Corey Durkin:                  The old goat, the old gurus that said, save your money, don’t buy lattes. Um, don’t go on vacation. And then maybe when you’re 70 years old then you can finally go to Italy. Um, so I, you know, I immediately, you know, I, I immediately identified that I was not, that, that didn’t fun to me, you know, I just like, I was like, well that doesn’t sound like any fun.

Corey Durkin:                  Like I mean granted at the time, you know, like, like I was in a different position than a lot of people looking at that advice because I was like, I have a bunch of money, I just want to lose a bunch of money, so what do I do with it?

Corey Durkin:                  So that was in a little bit of a different headspace, but I was able to go, okay, you know what, even if I didn’t have a bunch of money and still doesn’t sound like fun and you know, so, so I started.

Corey Durkin:                  So, you know, and, and I was actually, it’s funny you said, I was talking to a friend the other night and he was saying, you know, there’s just not a lot of good advice out there.

Corey Durkin:                  He said, actually, he said there’s a lot of bad advice out there and people just don’t know how to find the good advice. So I, I find it interesting now because a lot of those, you know, those old school financial educators, a lot of people are looking at that old school mentality and they’re going, yes.

Corey Durkin:                  Or they’re saying, well, they’re saying no, that’s bad advice. I don’t like that or that’s not. I know that’s not gonna work for me. But they never are able to figure out where the good advice actually is.

Corey Durkin:                  All they know is that’s not, I don’t want to do that, but I don’t know where else to go…

Corey Durkin:                  So that’s really why I’m so passionate about, you know, about what I teach at our company is because um, because I want to show people that there is and a way to, to, to, to earn money, to save money, to invest money, to grow your wealth and to still actually live the life you want to live and live an abundant life and do the things you want to do and not be worried about, you know, counting the sheets of toilet paper or you know, um oh I only get one caramel Macchiato per month and I get to splurge like, dude, okay, like I’m 27.

Corey Durkin:                  Okay, but everyday I am so aware that like, just because I’m younger doesn’t mean that I have 60 years ahead of me are 40, 50 years ahead of me. Like I don’t know what is going to happen next week, but you know, what I do know is I freaking love my $7, Venti caramel macchiatos with 700 calories per cup.

Corey Durkin:                  And if you’re telling me that the only way I can live a happy life is to save on those caramel Macchiatos every single day. And, and, and, and, you know, when, when I’m not even promised, next Friday, you know, what, if I get hit by a train next Friday and I could have had a week’s worth of Caramel Macchiatos and I didn’t drink them, I’m going to be really freaking pissed.

Corey Durkin:                  I’m not, I’m not into it. So what I did was I went, I went backwards. So I said, okay, this is all complete crap. I can’t, this is terrible. And I went backwards and I started retracing the steps of some of the most storied of families in history who created empires and kept them.

Corey Durkin:                  And like, I’m a super nerd, right? Like, so, not with numbers, but certainly with history and I love reading and um, you know, uh, and so I literally, I stopped and I, who made this work in the timeline of history.

Corey Durkin:                  And so I went backwards and I, and I read about why the vanderbilt squandered their fortunes and why the rockefellers captain. And I went. I mean, I went back, you know, till you know, for thousands and thousands of years and for centuries upon centuries to get the principles.

Corey Durkin:                  In the marketing game, people get excited about the shiny stuff and a lot of the people who never, who just look at the tools like, like people who get into business for themselves and they look at the tools of marketing like, oh, like it’s, this is what I build my pages, enter, this is what I send my emails out of.

Corey Durkin:                  Or this is how I run a facebook ad. Like some of those people can get good for a little while rather big and catch lightening in a bottle.

Corey Durkin:                  But what happens is every single person, and I’ve been, I mean I’m a 12 year veteran, so Larry and I have a 12 year veteran of the, of the marketing game. Like I know these are all my buddies. Like I can’t wait to go to the events in the SPRIG and see everybody.

Corey Durkin:                  You know, but what I know is that those people who maybe they caught lightning in a bottle, but if they didn’t understand the principles of what it meant to truly be a marketer and to truly, uh, what it means to speak to someone’s emotions and to allay their fears, guess what, they’re not around anymore.

Corey Durkin:                  And so it’s the same thing with financial education and getting your financial house in order to like, you know, what, at the end of the day, man, there are so many, many, many, many, many, many, um, uh, uh, pieces of content and Huffington post articles in Forbes, articles that say, do this before I came to that.

Corey Durkin:                  And it’s all, there’s so many shiny tools that come out with the technology that’s available today. And I go, you know, what, like, that’s not what’s gonna make you successful. Like, what’s gonna make you successful is truly understanding the principles about why this works and why things don’t work with your investments.

Corey Durkin:                  And once you can figure those out, man, the world is your oyster…

Corey Durkin:                  So that was where I really focus my energy and kind of, you know, issued the, the, the old school mentality of um, of the save lot, saved money and don’t buy things unless you have money down and all that stuff.

Corey Durkin:                  And so I was able, you know, I created this system for myself because I wanted to learn it. This was all for me, none of this, this was, you know, 10 years ago I was doing this recording and then my family said, hey, well listen, your, you got your stuff together, will you take care of ours?

Corey Durkin:                  And I said, yeah, and then, you know, friends started coming to me and I realized like, dude, I have a freaking blast helping people with their finances. I’ve, I was living it up, like I would literally sit down with a buddy of mine, talked to him for four hours at a coffee shop and I was like, I was, I was happy as a clam.

Corey Durkin:                  So I have a real passion for this stuff. I love talking about this, by the way, again, thanks for having me on the show…

Ryan Enk:                          You know, it’s an interesting concept to think about is if you have a business that’s failing and you have a consultant that you hired to come in to help you with that business, if all that consultant focused on was how you cut expenses in that business, you would probably fire them because what business wants to cap at their own income, you know, every business wants to grow and make money.

Ryan Enk:                          And it’s so ironic that we think like that with our own household because you should be running your own house and your own finances in the same way where you don’t just say, all right, well this is my job that I have for the rest of my life and this is what I’m capped out at.

Ryan Enk:                          There should be some sort of upward movement and your income besides you going out and looking for a raise.

Ryan Enk:                          So what are some of the things that you do as you know, as a coach to help people focus not just on the expenses and cut that, that Mocha Latte, the Caramel Mocha latte but to actually increase their income, because a lot of people don’t have time for, for like another side job?

Corey Durkin:                  Well, you know, a lot of people don’t have time for a lot of people think they don’t have time for an extra side job. You know, and certainly there’s the new, like the new ethos has become like hustle, hustle, hustle, hustle, and grind, like, you know, like work till 4:00 AM.

Corey Durkin:                  And again, I don’t necessarily believe that either. I believe there’s a happy medium.

Corey Durkin:                  I think one of the keys to kind of maybe having the time to do that, that side hustle or having the bandwidth cognitively and emotionally, especially for those of you with children, um, to be able to do that, you know, is really understanding.

Corey Durkin:                  Like, you know, you have to um, you know, you have to start valuing your time differently.

Corey Durkin:                  And you know, when you’re in this rat race of trying to save and when you’re in that CEO mode of always trying to cut expenses for your company, you know what you’re, you’re, you’re, you’re never going to become, you’re never going to be able to scale at all.

Corey Durkin:                  You’re never going to scale. You’re just gonna stay right where you are and you’re maybe going to go to Naples once a year and a half. And he’s like, Oh, you know, checked out at a different hotel for $69.

Corey Durkin:                  This unit was feeling this way, but you know, it didn’t send me dolphins this time, whatever. Like that’s your life. That’s not fun at all. And people get caught up in this idea of like, oh, the only thing that I can possibly do is um, is save money.

Corey Durkin:                  And so they do things like they take trips to costco and they spend four hours at Costco and they got. But they got the best deals.

Corey Durkin:                  Nevermind the math on like what you actually spend in costco over what you should have, what you would have spent the day with the regular grocery store.

Corey Durkin:                  Like ignore all those studies, just think about the time that it took you to go to the Costco, that’s 40 minutes away instead of the grocery store that’s 10 minutes away.

Corey Durkin:                  The gas incurred, the opportunity cost of your time that you could have been perhaps, you know, putting an hour or two in that night on starting a side job or trying to figure out how to do wholesale and trying to figure out how to do no money down real estate. But instead you’re like, well, I got toilet paper, a dollar cheaper at Costco. And so that was worth three hours of my time.

Corey Durkin:                  You know, I think that that was one of the biggest keys is really understanding where your time is best served and, and, and, and how to leverage your time so that you can…

Corey Durkin:                  You cannot create more of time…

Corey Durkin:                  I mean, man, last couple days have been so nuts around here and I’m like, get to like 1:00 PM and I’m looking at the clock going, no, like, I can’t believe.

Corey Durkin:                  No, please, I want go back to 10:00 AM. I got so much more to do.

Corey Durkin:                  So and like that I can’t make more time, no matter how hard I try, but what I can do is I can, I can value my time differently and I can understand that saving about a couple of dollars at costco when it’s going to take me an extra hour and a half to go get that stuff is not worth it because what I could really be doing is I could really be spending an extra 45 minutes, make it a prospecting call or you know, working on the new Webinar or designing, you know, what the training is for our VIP members at our next event, like really high leverage stuff.

Corey Durkin:                  And so, you know, the second part of that is once I can help people to think differently about how they spend their, an allocate their time, which is an asset, right?

Time management importantCorey Durkin:                  Like your time is an asset. I can decide that, you know, for from four to 5:00 PM today, um, you know, I’m going to go watch designated survivor on Netflix, which a great. I’m so sucked into business, whoever. Oh my God. It’s amazing. I find, oh, it’s like this ABC show. It’s with Kiefer Sutherland. Uh, and, and it’s like, it’s so bad, but it’s so good.

Corey Durkin:                  Like it’s just like exactly what you need for like 11:00 PM, like your brain’s dead and you’re just like, I just want to watch and live in a world or Kiefer Sutherland is president. It’s tremendous. So is it Kinda like 24? It’s like 24 mixed with West Point. They take a lot of stuff from western, like literally rip off entire storylines but it’s so good.

Corey Durkin:                  But, but from four to 5:00 PM, I can either watch an episode designated survivor which would have probably, which would have negative Roi given the opportunity cost or I could jam with you for an hour and talk about real estate and investing and helping people add value to their lives.

Corey Durkin:                  It’s a much better use of my time. I get to make that choice on a, on a, on a 30, you know, I think I think of my time and kind of like 30 minute increments. Like what do I, what can I get done in the next 30 minutes that I can really push the ball down the field.

Corey Durkin:                  And the second part of that is um, you know, creating a team around you to be able to support you to do those high leverage thing.

Corey Durkin:                  So sometimes you know, if you’re, if you and your spouse work nine to five, guess what, that’s not going to be like hiring like an executive assistant like I have, you know, like it’s not going to be like, you know, okay, well we’re going to hire three new secretaries and a couple of new customer support Reps, and like I get that some people don’t have that luxury, but you can start small.

Corey Durkin:                  You can talk to your spouse and say, “isten, like what? Here’s what I need to be doing that’s really high leverage to be able to increase our income. What could you be doing that you think could be increasing our income as well?”

Corey Durkin:                  And how can we work together to support one another in your. I’m going to carve out an hour of time for you each night to go work on your new book or your new course and you’re going to carve out an hour of time for me on the sat on a Saturday where you take the kids to, the bouncy house place where they bounce around in the house and stuff, you know, whatever.

Corey Durkin:                  So I can, so I can work on a proposal for the new consulting company that I want to start or you know, whatever it is.

Corey Durkin:                  Um, you know, and so I, I really try to get people to understand that concept because, you know, again, with the old school stuff that we get, we just get the propaganda of like Save, Save, save and place small. Like it does get burned into people’s brains on a subconscious level.

Corey Durkin:                  Especially when we, that’s always seen our damn facebook newsfeed is those Forbes articles that are just rehashing all that old stuff.

Corey Durkin:                  And so I really try to get people to understand that.

Corey Durkin:                  And then, you know, as you start to grow, look, when you don’t have any business, we don’t have any money to thing you have is time.

Corey Durkin:                  It’s, you start to generate more money instead of pulling it out right away you have the option to invest that money back into the business.

Corey Durkin:                  And for me, I invest that back into a, you know, invested that into creating an infrastructure around me that allows me to do the things that I love to do the best.

Corey Durkin:                  So and number one is helping having people around me that are good at doing the things that I don’t want to do and in bad at. If I can eliminate the things that I don’t want to do in a bad at, then I can focus on the third thing, which is the stuff that I could really be doing that can really move the company forward.

Corey Durkin:                  Or you know, or companies in this case. But you say, you know, it’s like, I mean I’m pulled in a million different directions and you know what? Having a gal who is my right hand person who does everything from, “Hey, just letting you know that like, you know, your flight’s been changed by 10 minutes and I’m already at the gate to hey, my washing machine is not working.”

Corey Durkin:                  “Okay, I’ll, I’ll, I’ll take care of it too.”

Corey Durkin:                  You know, like I’m grocery shopping, you know, like I’ve always been a big fan of, of, of having people do those kinds of things. I haven’t set foot in a clothing store and six, seven years I had to buy it on Amazon or online or somebody goes out and grabs me stuff and brings it back and I do a session at my house and then say, okay, return these and get me 10 more.

Corey Durkin:                  The ones that I like, like you know, like it’s not to my advantage to go out to the mall and sit there for an hour. Plus I hate shopping. So if I can get people to think about this stuff in this high leverage way, I have the ability to show them, look, there’s a lot more that you could.

Corey Durkin:                  There’s a lot more progress you could be making. And whether that’s in real estate, whether that’s starting a bakery, whether it’s becoming an author like that’s available to us, we just have to think outside the box and stop being trapped in the freaking rat race.

Ryan Enk:                          And that’s so important. I think you touched on something that’s pretty profound. There are a lot of people. The first thing they is, I have no time.

Ryan Enk:                          I have no time, I have no time. And it really comes down to just maximizing your time. The richest people in the world create time and they created by doing the things that you’re talking about that you know, if they’re bad at something, yeah it’s going to cost $60 to get somebody to mow your lawn.

Ryan Enk:                          But what can you be spending that time doing instead of mowing your lawn instead of driving the costco that’s an hour away to save a few pennies that you, you probably, you know, spend a lot, a lot of that on gas. You know, what could you be better spending your time with?

Ryan Enk:                          And most people, if you sat down with a schedule and you lined it out line by line every single day, what did you do by the half hour? You would probably find an extra four to eight to 10 to 12 hours in every day just by line in that up.

Ryan Enk:                          Most people, they don’t realize how much time they actually waste on Netflix and, and the voice and watching all these shows on TV is a huge time waster.

Corey Durkin:                  It’s true and habit and having the discipline to build that stuff in. You know, I watched people that like are so addicted to the dopamine hit of checking their cell phone that, you know, mid conversation, they’ll check it.

Corey Durkin:                  Like really good communicators and very empathetic people that like in the middle of a conversation. And I, and I watched people do this all the time where they’re sitting there and they’re like, uh Huh. Uh Huh. Uh Huh.

Corey Durkin:                  And then they’ll go like, people literally can’t help it. So again, you know, it’s, you know, what, what I teach in our courses really, you know, from, from, from this sort of like mindset principles standpoint.

Corey Durkin:                  You know, before we get to the actual, here’s what you invest in, here’s the percentage that use all kinds of stuff. As I say, you know, like you gotta you have to understand that this is for some people who want to think differently.

Corey Durkin:                  This is for people who want to know that they have a freaking plan and a blueprint that they can follow forever. Not to mention when the next recession hits, not to mention when the next crash happens. And you know what I mean?

Corey Durkin:                  People, you know, the financial institutions and the banks and big corporate is, their job is to make this seem as complicated as they possibly can so that people won’t question it. They won’t think twice.

Corey Durkin:                  They’ll just go, well they will question it and they’ll go, I don’t know what the hell’s going on. And so they’ll just, you know, put the blindfold on and throw a dart at a dartboard and hope that they’re getting, oh, I suppose I’m getting 13 percent, so that must be true.

Corey Durkin:                  Did you ever read the fine print now? But it sounds good. I’m like, oh great. Well then, you know, so, but people are starting to get hip to the fact that that’s not the way to do it anymore.

Corey Durkin:                  We have everything at our fingertips. We don’t need to do that that way, but, and, and they’re able to. So they’re able to, again, going back to the area, they’re able to identify the bad advice, they just don’t know where the good advice is.

Corey Durkin:                  And again, it’s to no one’s advantage in the financial world to give the consumer the good advice because guess what, commissions gotta get paid. So, you know, it’s tough. It’s tough out there.

Corey Durkin:                  So I’m like, I’m an, I’m, I’m an evangelical, I am an evangelist for this. Like I just, I’m like one of the prophets in the Bible, tear my clothes. Like, come on, people rise up, let’s go. I want to empower people.

Corey Durkin:                  I want to give people the opportunity to understand that the power is within their hands and it doesn’t have to be complicated. I love breaking this stuff down people and showing them how to invest in them.

Corey Durkin:                  Sheesh! I wish somebody had told me this before,

Ryan Enk:                          Right? So, so tell us, let’s talk a little bit about the mindset. Tell me, you know, if, if I were to ask you, why can’t you get rich? If you feel poor, you’d probably say, well, I can write a book about it, which you did.

Corey Durkin:                  Hey, what do you know?

Ryan Enk:                          But, um, but you know, let’s, let’s talk about that, um, that feeling poor, that mindset that affects your decisions and affects your ability to create wealth for yourself.

Corey Durkin:                  Well, so yeah. So number one, I think, I think, um, one of the biggest things is, is, is a lot of people, if something can’t come to you, if you’re condemning it, except for death.

Corey Durkin:                  I mean, I guess, you know, that’s, that’s a non negotiable lucky you can, you can hate death all you want you to.

Corey Durkin:                  It’s hard to get out of that one. Um, you know, Jeff Bezos is probably going to get there but, but, but you can’t condemn something and, and, and secretly want it. And so a lot of people really, um, you know, we’re taught subconsciously to not to not like people who are wealthy. Yeah.

Corey Durkin:                  You know, I mean I have a, I have a, I have a beater Chevrolet that I love the drive and that’s my favorite car and especially in New England, I need it in the snow, you know, and um, and, and, and, and it toes the boats, and I can park it in the middle of a freaking pinegrove and get the car scratched up and I don’t care.

Corey Durkin:                  It all doesn’t matter…

Corey Durkin:                  And then I have a really nice sports car and people, people look at me differently. I see. And I feel the energy of people change depending on which car I’m driving, when I’m getting our, I’m handing the keys to the valet or whatever.

Corey Durkin:                  Like it really makes a difference. Um, and, and, and, and, and I’m shocked by that, but when you stop to consider the fact that we are often taught the subconscious programming that rich people are bad, rich people are greedy or rich people are, you know, this or that.

Corey Durkin:                  Like there’s a, there’s a, there’s a mindset track in there that has to be changed before you can even start to get to the place where you’re like, hey, you know, what rich people and they actually might not be so bad. And maybe I’d like some of that wealth. I’d like some of that richness over here. Please.

Corey Durkin:                  Could you put something here? I’d like something, you know, but, but if they, but if they, you know, but if they’re condemning it there, they’re not going to get there. So, so in terms of reprogramming from that standpoint, first thing is, man, you got to start loving rich people.

Corey Durkin:                  You got to start loving people who are wealthy. You gotta lifestyles of the rich and famous. You got to watch MTV cribs. You gotTa, you gotTa really get in the mindset of appreciating, um, people who have, who have wealth.

Corey Durkin:                  And one of the things I like to teach people is, is, is once a day for 30 days, if you’re, if I mean again, everybody’s like, no, I like rich people. I’m like, yeah, you’re full of it.

Corey Durkin:                  Like you really don’t like really if you stopped and looked at your thoughts about people who are wealthy, you’d be like, yeah, they’re there. Those guys, you know, the, I don’t like them.

Corey Durkin:                  So for 30 days I said, you know what, pick somebody in your town or somebody that you know or scroll through your friends on facebook or scroll through your phone and pick out 30 people who have been successful that you know, like, you know decently, and write them a letter in the morning, say, dear dear John, I just want to say like, I really admire you for how you’ve built that, you know, apartment, business and, and, and how you built your real estate business and list the positive aspects of those people and start to put that energy out into the universe in a very intentional way to the point that you’re actually writing their address.

Corey Durkin:                  Hey John, I wrote a letter to you. I wanted to thank you for inspiring me. What’s your mailing address? If you don’t have it, that’s why he’s suing. Somebody took the time, wrote a letter to me. I barely, we barely even phone call anymore.

Corey Durkin:                  It’s like, sure, here’s my, the intentionality of putting his, writing his address and putting a stamp on that letter on that envelope and sending it to them. I mean my God, you want to talk about, you know, changing your, your, you know, your, your attraction point into the universe and saying, “Hey, I’m ready for. I’m ready for more. I believe in being wealthy. I believe in abundance.”

Corey Durkin:                  That’s a really good way to do that. You know? So I think that, and again, it’s not necessarily anybody’s fault that they feel that way, but you know, the parents and grandparents and teachers and have rich people this and add rich people.

Corey Durkin:                  That’s like, you know what? Like I know just as many mean poor people as I do mean rich people like that matter, like money or not. Money is not. Money doesn’t change people. It just magnifies what’s already there. If you were a dick when you had no money, it guess what?

Corey Durkin:                  You’re just going to be a bigger one when you have money, but you’re still a dick.

Corey Durkin:                  Like, just because you’re a millionaire doesn’t mean you’re, you’re not any nicer, you’re not in immediate, you are who you are. You’re just not making $40,000 a year, a sanitation worker, same thing.

Corey Durkin:                  So that’s the first step to reprogramming that, you know, and, and I, and I really loved the book, it’s called, you can’t get Richard to feel poor, um, how to use the laws of the universe to manifest more money into your life.

Corey Durkin:                  And, you know, one of the things that, that, that, that I love about the book is, is that it really focuses on, um, on tactics.

Corey Durkin:                  You know, there’s so much in the, in the personal development world that’s like, you know, and again, of course I teach in my courses and in our trainings and our events. I teach strategy like I teach like hardcore investment, investing strategy, asset allocation.

Corey Durkin:                  Here’s how we do gold, here’s how we do silver, here’s how we do all that kind of stuff. Um, but, but, but, but a lot of times it does start with this.

Corey Durkin:                  However, a lot of the personal development world is very focused on, I’m like just airy fairy fluff, like, oh, just feel better, just feel into it and you’re like, suddenly, like the gold flakes will start raining down upon you and before you know you’ll have an entire gold bar in your backyard and I don’t know why they’re all British, but anyway, but you know, so, so that’s the, that’s the ethos of, of, of a lot of that.

Corey Durkin:                  And so what I love about the book is it actually gives you concrete action steps to start reprogramming your stuff. You know, I mean the, the, the top athletes in the world need coaches. The top investors in the world need coaches and a lot of, most of the time those problems exist right between the ears.

Corey Durkin:                  If you can fix that and start to reprogram yourself and say, listen, you know what? I can take advantage of this. I can create whatever I want to in my, in, in my mind’s eye with, with how I want to feel about the wealth. Okay, good.

Corey Durkin:                  Now that’s step one. The only problem is in the personal development world, it’s like, well, you just gotTa feel wealthy and then the money will come in and it’s like, no man, like you actually get to go out there and work your butt off. Like you actually have to like study and learn this stuff and invest in yourself and know what you’re doing and get a good real estate coach. Like that second part nobody talks about. That blows my mind. So that’s why. That’s why the book was created to say, listen, we’re strategy. Like I teach you strategy.

Corey Durkin:                  I help you figure this out, but you know what you know. So both pieces is important.

Ryan Enk:                          That’s so important because if you. If you isolate the, the idea of just like thinking your way into wealth, you know that, that you can sit there and dream about a Ferrari every single day, you know, but if you don’t take action, then it’s not going to happen.

Ryan Enk:                          But it’s so important that you, if you are an action taker, it’s so important that you shift your mindset because that creates this energy within you. Like if you say like, I can do it and if you’re not just sitting there feeling like a poor schmuck but you’re, you’re looking at the goal, our brain, you know, I say all the time our brains like a servo mechanism, which is like the military term for like a heat seeking missile and if you program the coordinates in subconsciously it’ll navigate around all the barriers until it hits its target.

barriers feel like failing don't panicCorey Durkin:                  You know? I love that. Yeah. And sometimes sometimes there’s more barriers than you thought, right. You know, I mean there are, you know, but sometimes you know, the, the, if you program that missiles, sometimes you’re going to make some end around.

Corey Durkin:                  So you’re going to go, well this doesn’t seem to be, you know, this doesn’t seem to be working that well. And, and you know, there’s a real component there too, which is when you hit those obstacles to understand that, you know, if you’re focused on, if you’re focused on the programming, the coordinates correctly, knowing where you’re going, God forbid anybody should start investing plan or a retirement plan in mind with what kind of life do I actually want to live when I retire? What a freaking concept.

Corey Durkin:                  You know, I mean it. Guess what, news flash everybody, if you don’t know where you’re going, you’re probably gonna end up somewhere else, you know?

Corey Durkin:                  But you know, most people’s retirement plan sounds like Yogi Berra quote, which is when you come to a fork in the road, take it. I’d done help anybody. What does that mean exactly?

Corey Durkin:                  Like you know, like, like, like they, they, they just, they just sit there and go, well I don’t know, I’m just going to try to save more money than last year. I don’t even have a goal in mind.

Corey Durkin:                  So to your point, if you can program those coordinates, if you can really start to understand that you’re doing, if you’re doing that along with the action piece and you’re willing to hustle, like it’s a mathematical certainty that you’re going to figure it out and you’re going to start to see for progress and you’re going to start to see red recognition and then you know, then it becomes the second part, which is how we say it, the uplift is look, more people have died coming down from Mount Everest and going up.

Corey Durkin:                  There are plenty of business owners who are able to rock it up. They’re able to ratchet up their dollars and they’re able to make three, four, $500,000 a year. It’s awesome.

Corey Durkin:                  And they’re like, I’m on top of the world and I can’t tell you how many people I know even just in the local business community here where I see guys that are, you know, they’ve made three, $400,000 a year consistently for the last 15, 20 years as chiropractors and accountants and bankers, whatever.

Corey Durkin:                  And they don’t even have a frequent retirement. Well, I had five kids each, each college tuition cost 60 grand like dude, like you got you gotta have you gotTa start to understand where you’re going and, and, and you got to get off of Mount Everest.

Corey Durkin:                  So what, what, what, what, what we do in our programs is I help people get down off of freaking Mount Everest safely.

Corey Durkin:                  Don’t die on the way down. You got the money or you want to be, whether you got the money or whether you want to build the money. Either way, at some point there’s going to be a critical mass and you’re going to be up there going, okay, there’s a lot less oxygen and it’s a long way down and what the hell do I do?

Corey Durkin:                  Some of that, you know, some of the things, some people have actually said to me that the toughest part of their life was when they were making a lot of money and they didn’t know what to do with it. There’s almost more pressure that way, you know, because it’s like…

Corey Durkin:                  You’re like, okay, I’ve, I’ve reached a pinnacle that I’ve wanted for so long and I know that there are so many other people who would want to be in my position.

Corey Durkin:                  I hope I don’t screw this up. There’s actually more pressured that way. Then there is. If you’re not making a lot of money and you’re trying to make more, you don’t have anything to lose, you know, so, so, so I want to help. So freaking badly.

Corey Durkin:                  Oh my God, I want to help people to alleviate that stress and to give them that serenity and that piece because you know what, whether you’re want, whether you want to make more money or you have a bunch and you want to figure out how to keep it.

Corey Durkin:                  There’s no reason to live life with that much stress and pressure and pain. And it doesn’t have to be hard. It doesn’t have to be complicated. It doesn’t have to be this ethereal, a crazy financial presentation where you’re just like, I dunno, that fund looks great.

Corey Durkin:                  There is a, there is easy. And, and more importantly, the power is within the control of every single person to say, you know what, I can figure this out. And my goal is to empower people to figure it out for themselves and to help them out along the way.

Corey Durkin:                  Doesn’t have to be hard. That hasn’t been difficult. Doesn’t have to be an 89 page powerpoint. Yeah.

Corey Durkin:                  No, it does not really does it? You know what, you know what program you’re coordinates. Get up and hustle. Let’s go. There you go. That’s the cashflow dad life.

Ryan Enk:                          Absolutely. Well cool man. Well thank you so much for coming on the show. I wish, I wish we had some more time to go into the depth on the mindset behind money. Um, but we’re out of time for today.

Corey Durkin:                  But listen, if you guys want to get cory’s book, um, it’s called the, you can’t get rich if you feel poor. I highly recommend it.

Corey Durkin:                  It’s, it’s a quick read. Um, but uh, but very impactful. And you can get it@corycashflow.com. So that’s www dot corey, which is c o r e y a cashflow.com. At any, any, any, uh, parting, parting words of wisdom if you had to start all over?

Corey Durkin:                  Oh yeah. I wish I got in this book when I was 15. You know, I, I wish I had, you know, um, uh, how much is the book by the way, if they go on there, the book is nine 95. Okay. Nine 95.

Corey Durkin:                  And uh, and they’ll get, they’ll get a digital copy and they’ll also get one shipped right out to them. Um, it’s a, it’s a two for one. Um, and uh, you know, the thing that I, I really love about the book again, we, you want, you want more, you want a little bit more mindset stuff to marry, to some action steps that you’re taking.

Corey Durkin:                  This book will show you to do that because, you know, look, money touches every part of our lives and I’m feeling guilty about money, feeling scared about money, feeling like you don’t know what you’re doing with the money that you have…

Corey Durkin:                  There’s a lot of, there’s a lot of shame and there’s a lot of pain associated with money, but the fact is money touches every single facet of our lives and guess what? College tuition is like 3000 times.

Corey Durkin:                  What it used to cost healthcare is going up like a mother. Like I mean like, you know, like guess what? The old stuff doesn’t work anymore, guys. Like it’s up to uh, and, and, and, and, and what people are finally starting to figure out a little bit is that nobody’s going to help them write the big corporate is what caused the crash of 2008 big corporate in the bank’s cost. Two thousand eight.

Corey Durkin:                  You want to walk, you want to figure out what happened. If you watch the big leap and you know, I mean you watch that movie and that’s a really good crash course for somebody who doesn’t understand all of the financial markets and just want to read about them.

Corey Durkin:                  That’s a great way to, to, to, to figure it out. And you know, like the line is that crash was created by the big, the big guys at the top. And nobody’s going to save us, nobody’s going to save you. It’s up to you so you can either decide, you know, it.

Corey Durkin:                  People either like put the money in the mattress where it loses purchasing power, it’ll lose half of its purchasing power in 14 years due to inflation, or they throw a dart at a dartboard blindfolded and hope that they have some money to retire when they’re, when they’re 75, um, or there’s a third option which is start to understand how to marry the action step with the mindset step.

Corey Durkin:                  And um, you know, this book is a great way for you to get out of your own way and actually get into darn action and start making it happen.

Corey Durkin:                  Start earning more, saving more, and having more fun because you know what? Naples is cool one time, but I can only see so many darn people play shuffleboard before I want to poke my eyes out. Much more fun to go to Maui and Turks and Caicos.

Corey Durkin:                  Guys, I can tell you and you can get there and you can figure out how to design your life that way. I just about, you know, about taking, about taking the action steps you can go to coreycashflow.com And you can get the book there.

Corey Durkin:                  There also be a special bonus for the Cash Flow Dad Life listeners, which is a secret bonus when they buy, when they buy that book. So if you want to level up and program your coordinates and get that heat seeking missile headed towards the target, let’s go.

Corey Durkin:                  Man, I’m here to help and I really thank you for being on the show and I’m honored to be here and man, this such a blast. I love talking about this stuff. I love doing this. So there’s nothing. Nothing that I love more.

Corey Durkin:                  I really, I really, you know, I got coffee. I’m hanging out with Ryan. I’m in my office in Nowheresville, in the hills of Connecticut with just me and the bears like, man, life is good.

Ryan Enk:                          Life is good in life is short. Thank you so much for teaching what you teach Corey. Appreciate you brother.

Corey Durkin:                  Thanks for having me on the show. See you soon.

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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