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Real Money Talks

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Now displaying: August, 2018
Aug 30, 2018

Selling is one of those skills that can benefit your finances and your personal life. I have a special guest today, Ross Jeffries is a sales expert and the author of Subtle Words That Sell: How To Get Your Prospects To Convince Themselves To Buy Without Pushing, Pressuring Or Pitching. On today’s show, Ross shares the importance of mindset, how to be a service decision technician, and implied relationship words.  

Ross learned the power of selling early on when he was dating and started learning about NLP to help persuade women to go out with him. Soon he realized that these same selling and persuasion principles could be used in the sales arena. This episode will change the way you look at sales and how to speak with prospects.  

You can find Ross here:

Ask Loral

Show Notes

  • [01:59] 20 years ago Ross became involved with NLP. This is neuro linguistic programming which is the study of how language structures consciousness, shapes decisions, and drives behavior.  
  • [02:20] He learned how to communicate in a way that was charming and help them get past his peers. 
  • [02:30] Ross realized if he could sell himself to get a date, he could sell other things to make money. 
  • [02:37] He also learn to develop a mindset that was able to handle the word no.  
  • [03:10] He has been training sales teams to do what he calls subtle selling. 
  • [03:15] The art of getting your prospect to convince themselves to buy without having a pressure driven pitch. 
  • [03:26] Ross's book is called Subtle Words That Sell: How To Get Your Prospects To Convince Themselves To Buy Without Pushing, Pressuring Or Pitching
  • [04:05] Myths about selling. You are selling your product or service. You are never selling your product, you are selling decisions and good feelings about decisions.  
  • [04:56] Thinking of yourself as a service decision technician relieves the pressure. 
  • [05:35] The second method is that it's crucial to get rapport. Rapport is important, but you want people to be responsive to you. 
  • [06:59] Capture the imagination and the emotions of your prospect and lead them to make the decision. 
  • [08:45] It's not just a matter of getting people to trust you, it's getting people to trust that they can do it and make it in life. 
  • [09:03] Getting people to trust themselves is much more difficult. A real coach and salesperson gets people to trust that they can do it. 
  • [10:17] The difference between influence and manipulation. Influence is about expanding the minds of your prospects to encompass ideas. 
  • [12:34] Mindset is at least half the game. 
  • [13:28] The system to selling. Structure of your language in communication. 
  • [15:09] A tool to increase your sales by 20%. Using implied relationship words. You want to create a relationship with the people you are selling to. 
  • [15:51] Ask your prospect to promise to share their questions with you. Use words like we and together which imply a relationship. Will you promise me? We don't make promises to people who we don't trust. Buying into these words creates the unconscious mind set of already having a relationship. 
  • [17:55] How to crush objection. First responses are not written in stone. They are usually a reflection of what they are thinking or feeling. 
  • [18:26] People have buttons around money. 
  • [19:26] Reframe their objections and clear things up to move forward. 
  • [22:29] The difference between someone just plodding along and someone who has joy in being a transformational teacher. 
  • [23:34] In Ross's book, he lays out all the fundamental principles that make the tools powerful. There are also transcripts of training sessions. 
  • [24:41] Ross's book was a labor of love. 
  • [25:00] The vending machine metaphor for success. You have to accept and embrace chaos. Recognize that every situation is something that you can learn from. 
  • [27:12] See what you did right and then pick apart what you could do differently. 
  • [27:48] How important it is to get a coach and mentor. 

Links and Resources:

Aug 16, 2018

A mortgage is one of the best ways to leverage you money, especially for real estate investors. Today, I have one of the most knowledgeable people I know when it comes to mortgages. Elysia Stobbe is a mortgage expert who has closed over $300 million in residential mortgages. During the real estate downturn of 2006, Elysia not only survived, but she thrived.

She is an expert in VA mortgages and helping first time home buyers. She has been featured on FOX, ABC, NBC, CBS, and more. She is a national speaker and bestselling author. We talk about different types of mortgages, the importance of good credit, real estate for investors, the state of the real estate market, and the new tax laws.

You can find Elysia here:

Ask Loral
Elysia Stobbe Books

Show Notes

  • [01:17] Elysia started in sales about a quarter century ago. She started investing in real estate on the side and loved it.
  • [01:38] She transitioned over to the mortgage industry about 15 years ago.
  • [01:46] She's done everything from cash flow investing to notes.
  • [02:33] We are long overdue for a market correction. If you look at the market cycle, every 8 to 12 years there is a downswing.
  • [02:54] It looks like a slow decline may have started in March. It's not a big huge crash.
  • [04:00] Seattle, Washington is on fire they are not experiencing any type of decline. Big cities like New York are seeing less transactions closed.
  • [04:43] The average sale price is also starting to decline.
  • [05:33] A lot of new investors are jumping into the market. These people definitely need guidance.
  • [06:18] From an investor standpoint, there are still great properties available that cash flow.
  • [06:42] Stick to your system with real estate investing.
  • [07:11] Money rules that investors frequently break. Investing without having a plan. Having money discipline and having a budget or financial freedom plan. Living above their means.
  • [09:07] How to pick a mortgage that is right for you. Go through the options and choose the plan that is right for you. Not asking enough questions and doing enough due diligence.
  • [11:10] Credit is critical to your interest rate and how much you can qualify for. Credit is fluid. It is critical to keep an eye on your credit.
  • [12:13] People with great credit scores have more access to money across the board.
  • [12:50] Don't spend more than you can afford pay your bills on time every month.
  • [13:13] For investors, the down payment is a function of their specific plan. The great thing about real estate is that it is an amazing opportunity to leverage.
  • [14:31] Any mortgage is a personal decision. Over all reverse mortgages depend on whatever cash is available and can help some people.
  • [16:30] The number of mortgages you can have depends. The economy right now is ripe for investors to take advantage of leveraging.
  • [17:28] People used to be capped at 10 mortgages, but now the cap is back up to 20. A married couple could leverage on 40 mortgages.
  • [18:43] IRAs are a great opportunity, and people don't do enough of it.
  • [20:24] The new tax laws do help several states benefit. The more people educate themselves, the better things will be moving forward.

Links and Resources:

Aug 9, 2018

This episode is from a Facebook LIVE Lunch with Loral session. Today, I talk about what is going on in the world of Cannabis. This is a quick catch up with what me and my team and partners have been doing in the Cannabis industry. The Green Rush is going to be way bigger than the dot com rush. That is why I decided a year ago that I was going to get into the Cannabis industry.

My partners and I now have a 23 acre facility in Cathedral City where the condos will be. This will be an area for cultivation with shared resources. We will have a manufacturing facility and a dispensary. We have doctors working on the medicinal formulation of CBD and partners in the nutraceutical industry. On this show, I also share how you can learn more about the industry and partner and invest with us.

You can find Loral here:

Ask Loral

Show Notes

  • [02:37] A year ago, I started a webinar on Cannabis. Then we had a Las Vegas Cannabis workshop with a tour of the cultivation and manufacturing facilities and the dispensary.
  • [03:13] Then we bought 23 acres in Cathedral City for use in the industry.
  • [03:36] We also have two investor groups. One will be doing private cultivation inside our condos. The other will focus on brain and Alzheimer strains created specifically for clinical trials.
  • [04:10] The 23 acre facility will be shared and everyone can do their own private label and brand.
  • [04:38] There will also be a dispensary at I-10 and Date Palm Drive. The gateway to the whole valley.
  • [04:45] Each member of the condo will do their own cultivation and we will continue to sell out the space and all share the manufacturing, dispensary, and security.
  • [05:15] The condo will be used for cultivation and combined resources will be shared to help each other. This includes security, distribution, water resources, and more.
  • [05:20] The idea is called creative condos.If you want to know more about the project you can email StartAssetEducation@Gmail.com.
  • [05:32] In Nevada, we have four licenses.
  • [06:00] I have moved in my sales team, and they will be doing joint health and wellness sales. There will be CBD products and other joint ventures including nutraceuticals. This manufacturing plant is for non-THC related products.
  • [06:54] Our crown jewel is a Columbia license with some growers.
  • [07:08] There will be a Big Table in the Palm Springs and Cathedral City area November 5th and 6th and then the next day will be the Cannabis event. If you are not in the Big Table Mastermind, you can sign up for the day and just do the Cannabis tours.
  • [07:50] I have been on a 3 year mission to figure out how Canadians can better invest in RRSPs or Registered Retirement Savings Plans.
  • [08:04] We are selling a lot of our assets to go public on the Vancouver exchange, and we will be teaching you how to do the same.
  • [08:53] On October 17th, Cannabis should be legal in Canada. We hope to have an event on that day. The amount of money moving through is incredible.
  • [09:30] The green rush is huge. I decided to get in a year ago. My heart and soul is on the medicinal side.
  • [10:12] There is a huge opportunities for dosing guidelines. Many businesses are popping up everywhere.
  • [10:56] Opportunities are popping up everywhere for software,legal and other businesses. If you are not in the space, it may be time to jump in.
  • [11:01] I am very interested in working with the Alzheimer groups and finding medicine to help people.
  • [11:34] It's my goal to continue to lead and bring updated information to you.
  • [12:06] We have a group of doctors working with the folks at the plant who can help you find the right combination of what to take.
  • [12:20] Marijuana Millionaires is a brand new group that is going to be the combination of a best-selling book, a newsletter, and a magazine.
  • [13:19] We are creating a team of doctors, formulators, and experts around the Marijuana Millionaire group.
  • [14:30] If you want to be a shark, you need to know how these industries work.
  • [15:08] Next week, we will have a variety of folks from the Big Table here live.

Links and Resources:

Aug 2, 2018

We are all about making money, growing money, and keeping your money. One of the best ways you can keep your money is to be smart about your tax structure. The new tax laws have passed, and 2018 has a lot of changes for small business owners and investors. My partner and guest Mike Giorgi is here to talk about all of the new changes and how to get the most out of them.

We talk about the importance of a team to really help you set things up correctly. Depending on your circumstances, you may need to create a pass-through entity to take advantage of the 20% QBI deduction. Mike talks about setting up your corporate structure correctly, planning, and monthly check-ins. We also have a checklist for you and a lot of great advice for keeping the money that you have earned.

You can find Mike here:

Ask Loral
StartAssetEducation@Gmail.com

Show Notes

  • [02:28] 2018 tax code. The changes are amazing for the rich.
  • [02:48] There are a lot of changes that need to be made if you are investing or a service company or doing business in general.
  • [02:59] People who are not service individuals like attorneys or realtors can get the 20% qualified income deduction.
  • [04:30] We have found a work around to get this deduction by having a management company.
  • [05:09] You need to have these types of conversations with your corporate compliance people.
  • [06:13] Doctors and professionals can lower their taxes by having money flow through their practice or management company.
  • [08:59] A 21% flat tax is an amazing thing especially for professionals.
  • [09:13] Have a management company that performs non-professionally licensed tasks with an S election, so you can get pass through income and your QBI deduction.
  • [09:42] Associative entertainment deductions are gone. Travel meals are limited to 50%.
  • [10:43] If you think about it, the trade offs are worth it.
  • [11:15] Get your tax team involved and ask about the effective tax rates of your current entities and what changes you may need to make with the new laws.
  • [11:49] Create a plan and create a budget. You need to document everything.
  • [12:31] Have a resolution and plan backing up that resolution. Check and recheck your plan on a monthly basis and make sure you are doing everything in that documentation.
  • [12:59] Find a professional team, put a plan in place, and document everything.
  • [14:08] Be sure to issue your corporate stock if you have an LLC. Make sure there is another officer in the annual minutes.
  • [15:20] Document a special resolution for anything that is special. Track large changes.
  • [15:48] Have cash flow in your proceedings.
  • [16:32] Email StartAssetEducation@gmail.com
  • [17:21] Anyone making $175,000 to $200,000 needs to talk to Mike. There is a phase out that starts at these numbers. They need to be spread out across the structure.

Links and Resources:

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