Please help the show by leaving a review: http://getpodcast.reviews/id/1118795347
Download the FREE 2018 Rental Property Analyzer
I started to a hobby to make Mead or fermented honey wine. It’s pretty healthy because of the good bacteria cultures.
I started it because I needed to diversify from my Kombucha hobby because moving to Hawaii I was worried that there was going to be a fruit fly infestation that would wipe me out.
Got to be diversified with multiple streams of income!
It’s been a busy month after wrapping up the closing on these two latest deals. If you are interested in the deal flow, make sure you are a part of our Hui Deal Pipeline Club.
I recently met George Ross who came to speak to my Syndication Mastermind for a private dinner. If you have need the movie “The Founder” you know the lawyer had a very big impact to Ray Kroch. George was the legal counsel to Donald Trump during his rise and “retired” once he hard Trump was running for presidency. George He held court to the remaining 15 of us for 3 hours after dinner until midnight telling stories for the past. Very insightful to know that this man shaped the Trumps business sense.
He is known as a master negotiator and he gave us the following relationship advice:
“In marriage, I tell my wife that I make all the Major decisions and she can have the Minor decisions… In all my years of marriage, we have not had one Major decision come up.”
The recently launched YouTube Channel just clocked in at 17,577 minutes or 293 hours or 36 working days. So there much be one person watching my content around the clock which on the clock.
I need a little bit of a break and took the time to reflect back on how far I have come from 2009 and buying that first rental property. By the way remember to incorporate “play” into your day.
The first twenty tips came from myself but after sharing the list and finding the other ex-cheapskates out there we have been slowly syndicating more and more bad ideas. Note: they are not in any particular order.
Our parents will be so proud of us!
If you want to add more, please email me and I will keep growing the list. And if you like I can add you initials at the end to cement your legacy.
If you call me collect, I will not pick up!
Money saving ideas for the shameless… (the before)
- Stack Mr. Rebates shopping portal and Groupon discount codes with gift cards purchased from eBay or Safeway with more gift cards and Mr Rebates shopping portal. To sign up go here: http://www.mrrebates.com?refid=413597
- Take a shower at work to save on utilities, water, and electricity – as a side benefit you go to the gym more often (do your 3S’s there, shit, shower, shave)
- If you work in a startup company that caters food, it’s a no brainer— eat at work and bring food home. Maybe you can even befriend someone that works there and join them for lunch from time to time. For extra credit consider a life of “intermittent fasting” and totally binge at these free meals.
- Wash your car in the rain. No mineral deposits left while it dries. Video of me demonstrating this: https://youtu.be/kZkYnkXOI7Q
- Costco leasing to own program
- Buy an Anker powerbank and charge it at work.
- Always take a pee before leaving for the day.
- Try to poop at the same time every day while at work… get paid to poop. Time is money and flushes cost 10 cents.
- There are soft drinks available at restaurants?
- Why are you eating at a sit down restaurant, you have to pay tip?
- If you must, order food to go and eat on the premises. Best of both worlds!
- Wear clothes with the tag on it and return it.
- Buy a snorkel from Costco to go to Hanama bay while visiting Hawaii to return it. Another Hui member cautions that on many electronics there is a 90-day return policy. Lady who returned a dead Christmas tree on Jan 4th.
- Use an app like GasBuddy to find the cheapest gasoline station, better yet, double stack your Costco credit card (4% cash back on gasoline) and buy Costco gas.
- Cash flow, cash flow, cash flow. Also, see uncle Kohlers team for tax optimization (easily the single largest expense in your life) http://keystonecpa.com/~keystone/images/5_Cash_Flow_Strategies_for_RE_Investors_eBook.pdf
- This one is a bit morbid, but an important one. Set up a revocable living trust with your lawyer to avoid probate expenses following the death of your family members\
- Susie Orman’s advice – make coffee at home and save yourself the $5 Starbucks Vente frappucino
- FAST (intermittently, not forever)! Skip breakfast daily (work yourself up gradually) and when you’re ready to get to the big leagues, attempt to fast for an entire day (no breakfast, lunch or dinner)
- Solar panels (maybe?)
- Free (coffee) money, this one’s really easy ($25/quarter or $100/yr) w/ BofA and Amazon http://www.magnifymoney.com/blog/consumer-watchdog/better-balance-rewards-card
- Maximize and optimize what you’ve got BankPurely has a 1.30% APY since April (not sure if promo rate?) but most banks have 1.0+% (which is 10x the 0.1% APY rate given by most conventional brick and mortar banks like BofA, Chase, WellsFargo)
- Become an Uber driver or deliver post maters? (not a big fan)
- If you have a spare room not in use, AirBnB it from time to time
- Check out EventBrite or other social event platforms for free lunch/dinner/drinks
- InvestinAHP.com or email me for a few Burnzone book with your mailing address
- Buy Mod Pizza’s mega salad for $11.27. Dinner for days!
- Paid online surveys (not a good use of time)
- Coupons (think http://www.freestufffinder.com/)
- Use www.bensbargains.com or slickdeals.net before buying anything online
- Use Honey or Ebates or other discount portals for Amazon/eBay or other internet purchases to save a few %
- Certain credit cards provide 5x bonuses (Chase Freedom has rotating categories) and Chase Business cards are good for auto-pay things like internet with extra bonus categories
- Make a Ghetto Latte at Starbucks and other fun
- Charging up your electronics/ph0nes/Gameboys at work before you leave for the weekend
- The things we do to save money…
Growing up in Hawaii where a gallon of milk is $8, I was taught to save money in strange ways. (I don’t drink milk)
Some of those were pretty bad which develop into unhealthy money mindsets and can translate to negative social profiles.
Some downright unethical but hey if you are a cheapskate, own it!
I don’t condone any of these tactics but look, it is no coincidence why you folks continuously have so much money to invest and pay your bills on time unlike 4 out 5 of my Birmingham rentals every month.
Trading money for time… (the Recovery) – updated 8/1/18 & Migrated here…
- Using disposable chopsticks, plates, bowls, clubs, and forks to minimize time to wash dishes and put away. Also need less space for more of this “stuff”. I think we do not realize how much not only time we waste on this but water and electricity go into this.
- Use Uber as much as I can to minimize stress, the chance of an accident, 50 cents a mile per the IRS in wear and tear to your vehicle but most importantly you can bring your laptop and get some work done.
- Leasing a car – such a great decision. Its fun, the numbers make sense if you are able to grow your money at more than 14% a year, and don’t have to deal with any maintenance issues.
- Eat out. It just tastes better too. And no cleanup, prep, grocery shopping, etc.
- Send me some of yours!
- For future updates go here.
Join the Hui Deal Pipeline Club!