The Wealth Without
Wall Street Podcast

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Round Table | How to Pay Less Taxes to the IRS: Case Studies
Episode #
522
46 Minutes

Round Table | How to Pay Less Taxes to the IRS: Case Studies

Taxes can be substantial, taking a massive chunk of your income. The more money you make, the higher your tax liability. Regardless of how much you earn, can you reduce your taxable income? Careful tax planning could significantly reduce your tax burden, even if you have a relatively high income. Today's conversation focuses on creative ways to reduce your tax liability legally.

How to effectively reduce the expenses associated with what we spend for our children

What is QBI, and how do we maximize it?

How to use your home for business meetings and qualify for the Augusta Rule

Private Money for Land Flipping with Quinn McArthur and Eric Scharaga
Episode #
521
28 Minutes

Private Money for Land Flipping with Quinn McArthur and Eric Scharaga

Flipping vacant land is one of the most overlooked and misunderstood ways to make money in real estate. It’s also one of the best. However, one common problem land flippers experience is a lack of funds, which sometimes prevents them from snapping up deals. Sure, they can borrow from traditional banks, but they need to fill out a lot of paperwork and go through a tedious process, and there is no guarantee that their loan will be approved. That's where private money lenders come in. Lending money to land flippers is a profitable business model. Russ and Joey chat with Quinn McArthur and Eric Scharaga to give you more information about this opportunity.

How to invest in land funding

The most exciting thing about land funding

What a typical land funding deal looks like

Quinn McArthur and Eric Scharaga

Quinn excels as an investor, leveraging his extensive background in finance and comprehensive real estate expertise as a commercial real estate developer and asset manager. Renowned for his mastery in land acquisitions and active involvement as a note investor, he passionately pursues his interests in faith, family, finance, and fitness. Eric is an expert in residential and commercial lending and default, including performing, non-performing, active bankruptcy, and vacant land. In 2020, Eric authored the book Lienlord, an introduction to the power of note investing. He is passionate about personal finance and enjoys introducing land investors to creative strategies for seller financing. Quinn and Eric have purchased over 500 mortgage loans and currently hold an inventory of over $1.5M in vacant land notes. They have directly financed over $5.5M in land acquisitions across 36 states.

Round Table | We Read 40 Books on Money. Here's What Will Make You Rich
Episode #
520
46 Minutes

Round Table | We Read 40 Books on Money. Here's What Will Make You Rich

Managing your finances may seem overwhelming, but you can learn some best practices from many great books about the subject. While it can be time-consuming to read all these books yourself, why not start by listening to today's conversation so you can get a head start on learning how to make your money work for you?

How different people make money

Using facts and data rather than emotions to make decisions

Money-making principles and frameworks

If I Started Investing in 2024, This is What I'd Do with Dave Zook
Episode #
519
37 Minutes

If I Started Investing in 2024, This is What I'd Do with Dave Zook

Investing might sound like one of the scariest parts of managing your finances if it's your first time, but it’s also potentially the most rewarding. It is one of the best ways to become financially free over time. A savings account just won’t build wealth. So, where should you start? Today's conversation with Dave Zook will give you some insights and inspire you to explore the world of investing in real assets.

What is a real asset, and what makes it a good investment?

The number one mistake that new investors make

How to account for black swan events as you perform your due diligence

Dave Zook

Dave Zook is a successful business owner, syndicator, and investment and tax strategist. He founded The Real Asset Investor in 2015 after growing a handful of successful businesses. Dave helps others through education and offering investments to help them achieve their financial goals.

Round Table | Cash Is King: Why I Keep So Much Cash
Episode #
518
47 Minutes

Round Table | Cash Is King: Why I Keep So Much Cash

Having cash on hand for daily expenses is a good practice. But how much cash should you maintain? Is keeping too much cash practical? Where should you keep your money to ensure maximum growth? Different people and companies have varied cash requirements, so there is no one-size-fits-all formula for maintaining adequate cash. However, there are best practices to keep in mind.

Where should you put your money to maximize growth?

How to utilize cash to create returns that you would never have achieved without access to a pool of money

The difference between emergency reserve and opportunity fund

My Most Profitable Car on Turo😳 (Turo Host) #sidehustle with Aubrey Janik
Episode #
517
38 Minutes

My Most Profitable Car on Turo😳 (Turo Host) #sidehustle with Aubrey Janik

Your car is more than just a means of transportation. It’s a potential side hustle– a source of income waiting to be unlocked. Entrepreneurs and clever individuals find innovative ways to turn their cars into revenue-generating machines in today's economy. So, do you want to turn your car into a passive income stream? Have you considered starting a side hustle in peer-to-peer car-sharing? Have you looked into platforms like Turo or Getaround but don't know how to get started? You're in luck because today, Russ and Joey are discussing the opportunities in the carsharing business and what it's like to be a Turo host with Aubrey Janik.

How to make money on Turo

The most profitable cars on Turo

Why The Carsharing Masterclass is an excellent resource for aspiring Turo hosts

Aubrey Janik

Aubrey Janik runs a semi-passive, six-figure Turo business with over eighteen cars. How did she do it? One day, Aubrey started renting her car out on Turo, fell in love, and has been building and growing her Turo business ever since. She's also been helping people start their car-sharing businesses.

Round Table | This is Why Business Owners Use Whole Life Insurance - IBC
Episode #
516
48 Minutes

Round Table | This is Why Business Owners Use Whole Life Insurance - IBC

Many businesses, whether big or small, encounter challenges related to financial issues. This is mainly due to their limited access to resources. Knowing some of the difficulties expected is critical to planning well enough to solve them. How do you think business owners can solve financial challenges? In today's conversation, you will hear why business owners use a financial tool called the Infinite Banking Concept (IBC) to solve many of their business concerns.

How to use IBC to grow the business and accumulate cash to get ready for whatever economic condition

How to use IBC to alleviate the tax burden for businesses

How to use IBC to attract and retain top employees

Investing In Student Rental Properties: Fast Track to Financial Freedom with Ryan Chaw
Episode #
515
30 Minutes

Investing In Student Rental Properties: Fast Track to Financial Freedom with Ryan Chaw

If you're considering investing in real estate, locations near school campuses create enormous demand for student housing. But instead of renting your properties to college students, why not cater to graduate students? In this episode, Russ and Joey discuss the details of student housing with Ryan Chaw, a real estate investor who specializes in student rentals. After investing for four years–buying one property per year–Ryan now makes six figures in rental income per year and teaches others to do the same. Discover if this opportunity suits your Investor DNA and fast-track your way to financial freedom by investing in student rental properties.

How to create passive income through the student rental business

How to choose the locations for your student housing properties

How to utilize virtual assistants to scale your business

Ryan Chaw

Ryan Chaw is a real estate investor with a multi-state and multiple six-figure rental portfolio, which he built on the side of his full-time job. Based on his experience, he has created a student housing system and now teaches others how to build their real estate portfolios as a real estate investment coach.

Round Table | How Do I Start IBC?
Episode #
514
49 Minutes

Round Table | How Do I Start IBC?

You finance everything you buy. The only question is how you pay for it. Do you borrow money from someone else? Do you save money to buy the item and lose the potential earnings from that money if you had invested it? What if there's a better way to finance your purchases and still benefit from the interest your money would have earned in a tax-favorable account you can control? That's exactly what IBC can do for you. The basic idea behind the Infinite Banking Concept (IBC) is for you to take more control over the financing and banking functions in your everyday life. But how do you start IBC, and what makes it a better tool for financial freedom?

How does IBC benefit you compared to other financial tools?

What makes IBC a better tool for building passive income?

What can you do with IBC?

Passive Income: What's Working, What's Not
Episode #
513
35 Minutes

Passive Income: What's Working, What's Not

If you plan to build your passive income, you must start somewhere. Is there an ideal path? What if you don't have a lot of capital to begin with? Today, Russ and Joey share their passive income report and insights on what's working and what's not. If you still haven't decided whether to take the first step toward financial freedom, this episode will give you some ideas to kickstart your journey. Top three things you will learn: The different ways to earn passive income Lessons from investments that didn't go well Which investment opportunities are working and not working right now March 2024 Income At-A-Glance: Gross Income for March: $64,891.90 Total Expenses for March: $17,714.47 Total Net Profit for March: $47,177.43 Difference b/t February & March: $16,282.67 % of net profit to overall gross revenue: 72%

Round Table | 8 Passive Income Ideas: How We Make $100k Per Month
Episode #
512
40 Minutes

Round Table | 8 Passive Income Ideas: How We Make $100k Per Month

Are you still trading time for money, meaning you rely on a salary earned from a full-time or freelance job? Many people still do, and that's how most people operate because that's how we were taught. What if there's another way to earn money without you directly working? The journey toward financial freedom often involves passive income, a primary component in long-term wealth creation. But how do you find passive income opportunities?

Why do you need to build passive income streams?

How do you start creating passive income?

What other things make you excited?

Before You Stress About Money, Tune In with Justin Roethlingshoefer
Episode #
511
40 Minutes

Before You Stress About Money, Tune In with Justin Roethlingshoefer

Building and growing a business can be demanding and stressful, especially if you’re juggling multiple responsibilities and dealing with many challenges. When you’re under stress, your ability to think clearly and make rational decisions can be compromised, resulting in negative consequences for your business. So, as a business owner, it’s essential to prioritize your health and well-being so that you can make informed decisions and lead your business to success. In this episode, Russ and Joey discuss the importance of taking ownership of your health with their guest, Justin Roethlingshoefer. Justin is the co-founder of OWN IT Coaching, a multiple seven-figure coaching company. If you need help optimizing your health to perform at your best in whatever you do, this episode is for you!

What does your HRV (heart rate variability) indicate about your ability to handle stress?

Simple things you can do to improve your health

The importance of adequate sleep in your overall health

Justin Roethlingshoefer

Justin Roethlingshoefer centers his performance-enhancing programs on a holistically integrated approach to health and performance. His core philosophy is that performance is realized when health is optimized, and we cannot separate physical, emotional, mental, and spiritual health. He is the co-founder of OWN IT Coaching, a multiple seven-figure coaching company that applies this health and performance philosophy to clients ranging from NHL stars to Fortune 500 executives to entrepreneurs looking to take that next step and level up.

Round Table | This is How to Make Passive Income in 2024
Episode #
510
37 Minutes

Round Table | This is How to Make Passive Income in 2024

You’ve got a steady paycheck from your 9-to-5 job, or you're already earning some money from your side gig, but deep down, you want more money, freedom, flexibility, and choices. It’s time to build passive income. All income sources are essential, but for financial freedom, passive income is the key to achieving your goal. But how do you start making passive income?

Four things you need to make passive income

How to use the resources you have to make passive income

Why the things you need to make passive income can also hinder you if you do not know how to use them properly

Investing in Mortgage Notes: Step by Step to Passive Income with Robert Hytha
Episode #
509
39 Minutes

Investing in Mortgage Notes: Step by Step to Passive Income with Robert Hytha

Mortgage note investing is one of the most profitable real estate investment strategies available. When you understand how it works, it can be an incredible vehicle for building passive income, yet it is less popular with investors. In this episode, Russ, Joey, and their guest, Robert Hytha of FIXnotes, will explore the world of mortgage notes and how to invest in them. The rates of return in mortgage notes investment are higher than the banks' traditional low-yield bonds and higher than most stock dividends.

Why investing in mortgage notes is a good investment

How to find good deals

How to make money with mortgage notes

Robert Hytha

Robert Hytha is the founder of FIXnotes, a company that helps investors source and buy real estate-secured assets at pennies on the dollar and earn double-digit yields with ZERO property management by investing in mortgage notes.

Round Table | 8 Money Habits Keeping You Broke / Poor
Episode #
508
29 Minutes

Round Table | 8 Money Habits Keeping You Broke / Poor

Some financial habits, big or small, can ruin one's chances of achieving financial freedom and leave one with empty pockets. Are you aware of your money habits? Your habits might be preventing you from reaching your financial goals, so it's best to evaluate what you've been doing when it comes to your finances.

How to create cash flow

Putting your money to work instead of keeping it idle

Why budgeting and planning are important

Do I Really Need to Invest in the Stock Market? with Garrett Gunderson
Episode #
507
30 Minutes

Do I Really Need to Invest in the Stock Market? with Garrett Gunderson

Do you want to be rich? Most people would say yes. But how do you build wealth when you do not come from money? How can you live a purposeful, passionate, and prosperous life? Let's hear from a “financial genius” who was not born into a wealthy family, yet he understands the essence of investing and creating wealth. What does he know that many people don't? Tune into today's episode with Russ, Joey, and their guest, Garrett Gunderson, for an entertaining yet informative conversation about money and investing.

Investing vs. Speculating

Three things to consider when choosing an investment opportunity

Why some people still believe in Wall Street as a way to build wealth

Garrett Gunderson

Garrett Gunderson is the founder of an Inc. 500 firm and the author of the New York Times bestseller Killing Sacred Cows. He has written several other books, including a children's financial literacy book. Garrett is called a “financial genius” in entrepreneurial circles but wasn’t born with a silver spoon. In fact, Garrett’s blue-collar roots are what makes him so passionate about helping entrepreneurs build financial freedom. When he’s not traveling, speaking, or spending time with his family, Garrett enjoys CrossFit, eats Paleo, and makes people laugh at local standup comedy clubs.

Round Table | Why Should You Become An Accredited Investor?
Episode #
506
35 Minutes

Round Table | Why Should You Become An Accredited Investor?

You may have heard the term “accredited investor” while listening to this podcast or from one of your wealthy friends. But do you know what it means to be an accredited investor and why you should become one? Regardless of where you may have heard the term, if you’re interested in finding better ways to invest your money, today's conversation will explain why becoming an accredited investor is a good idea and the benefits that come with it.

The benefits and opportunities available to accredited investors

How to become an accredited investor

Areas where you must proceed with care as you become an accredited investor

Passive Income: How We Started, How It's Going
Episode #
505
48 Minutes

Passive Income: How We Started, How It's Going

Are you still just relying on your employment as a source of income? What's holding you back from starting your own business or investing in opportunities that will allow you to create passive income? Do you need more capital or investment knowledge to begin your wealth-building activities? Today, Russ and Joey share their passive income journey and the vital role infinite banking fulfilled as they invested in different ventures. As you listen, maybe an idea sparks your curiosity, and you want to learn more about it. You may want to know how to set up your infinite banking account. This episode will point you in the right direction. Top three things you will learn: New investment ideas you can explore Lessons from investing in different passive income opportunities ROI from investing in content websites and ice vending machines February 2024 Income At-A-Glance: Gross Income for February: $43,384.04 Total Expenses for February: $12,489.27 Total Net Profit for February: $30,894.76 Difference b/t January & February: ($3,311.40) % of net profit to overall gross revenue: 71%

Round Table | The 5 Biggest Tax Mistakes Business Owners Make
Episode #
504
47 Minutes

Round Table | The 5 Biggest Tax Mistakes Business Owners Make

Whether you're an employee or a business owner, taxes take a huge chunk out of your earnings. Taxes are a part of life and doing business, and you can't escape from them. However, there are legitimate ways to minimize your tax liability. But you have to know where to seek advice. Don't go looking for ideas online because you can't be sure if they are good advice at all. If you don't want to fall victim to the biggest tax blunders business owners make, tune in to this conversation and learn why the internet is not always a reliable source of information, especially when you want to save on taxes.

Different tax strategies according to the internet

Why the tax strategies found online may not be good advice at all

What to do to save on taxes legally

Leasing Land for Solar: How Much Money Can You Make Per Acre? with Dakota Malone
Episode #
503
31 Minutes

Leasing Land for Solar: How Much Money Can You Make Per Acre? with Dakota Malone

Do you have at least 30 acres of land you want to monetize? There's an opportunity besides land flipping that can turn your property into an income-generating asset. You can get paid to let a solar developer install solar technology on your property. The best part is that you can make money going green without buying the system or having to maintain it. The solar company does all the work for you. If you're curious about this opportunity, tune in to today's episode with Russ, Joey, and their guest, Dakota Malone of Community Solar Authority.

How to turn raw land into an income-generating asset

How to work with a solar farm developer, either as a landowner or a partner

Other ways to work with a solar farm developer if you do not have raw land for lease

Dakota Malone

Dakota Malone is one of the Managing Partners at Community Solar Authority, a solar farm development company. Dakota is a five-heart surgery survivor with a love for entrepreneurship and jumping into co-founding a sustainability company aligned perfectly. He believes in working on meaningful projects that help reshape the world into a more empowered place.

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