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Real Money Talks

As an entrepreneur, small business or practice owner, or high-level executive, do you ever find yourself wondering if you’re using all the tax, entity and wealth strategies available to you or if your investments are truly producing all they could be? Happily, you don’t have to put up with that any longer. I have the solution. Real Money Talks! We're having the right conversation about money.
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Now displaying: April, 2021
Apr 30, 2021

Today I am joined by Ken Starks.  Ken specializes in mortgages.  This episode is packed full of great information if you need a mortgage or will need a mortgage in the recent future.  

In this episode, Ken shares everything you need to know to make sure your finances are in order to qualify for the mortgage you want and achieve your end goal.  He shares common pitfalls he sees and ways to prepare to qualify for a mortgage. He also shares how his team can help you meet your goals and his outlook on what the future holds.   

Show Notes:

  • [01:22] Rates are extraordinary right now. They are beyond all-time lows. 
  • [02:49] If you are going to be financing any real estate you want to do that before you finish up your W-2 job. 
  • [03:31] Properly filing your taxes so you can qualify for what you want is key. 
  • [04:34] Right now equity is high and rates are very low. 
  • [05:13] On a first mortgage the highest any mortgage product will go is 80% of your value on a cash-out loan.  
  • [05:45] It is about money rules in terms of deciding what is right for you. Following those money rules is key. 
  • [06:08] Ken is able to openly shop vendors for the best possible rates and fees for your scenarios. 
  • [07:00] During COVID, guideline overlays became extremely common.  Minimum credit scores FHA and conventional loans have never changed.  Individual lenders have applied overlays on top of their minimums. 
  • [08:44] Ken shares about his background. After 9-11, he got into the mortgage business.
  • [10:31] Many things come up when you are trying to develop a mortgage strategy for whatever your end goal is. 
  • [10:58] If you took forbearance, you need to be out of it when you are ready to take a loan. You want your forbearance to be invisible because that is considered delinquency. 
  • [11:27] Fannie Mae allows for one full year of self-employment before they will do a loan. Depreciation is your friend as an entrepreneur. 
  • [12:24] New credit and high balances can easily sway a credit report 40-50 points. 
  • [14:29] You cannot have a loan in forbearance and close on a new mortgage.  It depends on what type of mortgage you are trying to do that depends on how long you have to wait until you can close it. 
  • [16:01] This is no inventory.  Rates are amazingly low which is stoking demand. 
  • [17:26] Demand is outpacing supply, even for new builders. 
  • [18:29] The first step with Ken’s team is to talk through your goals and see what you are trying to accomplish, see where you are with credit, and figure out where you might be with income qualifying. 
  • [20:14] It is hard to know what the future looks like.  There are many factors that can affect the future. 
  • [22:14] Commercial investments are a little bit different now.  When people have very complex finances as an individual, once we understand those things it is very easy to layer into the commercial needs that they might have. 
  • [23:03] Schedule your call to meet with Ken’s team. 
  • [23:13] There are so many markets you can invest in.
  • [24:04] Say yes and figure it out. 

Links and Resources:

Ask Loral App
Loral on Facebook
Loral on YouTube
Loral on LinkedIn
Money Rules
Millionaire Maker Store
Real Money Talks Podcast
Integrated Wealth Systems
Affiliate Sign-Up
Schedule an Appointment with Ken

Apr 23, 2021

Welcome to the weekly market awareness broadcast with Loral and the Integrated Wealth Systems team. Mike Alden is joining Loral to discuss his path from the projects to law to making investments that have earned him immense wealth. 

He’s sharing why his failures in business are what led to some of his biggest windfalls and how he’s used them to grow his portfolio. He’s also adamantly against succumbing to “if only” syndrome and what he views as true failure. Keep an ear out to learn about Mike and Loral’s next business ventures together and how it's your connections that lead to big money deals.

Show Notes:

  • [01:51] Welcome Mike Alden to the show and hear about his journey. 
  • [03:48] His path toward law and his “big business” moment. 
  • [07:00] He started his first business in the wreck of the 2008 economy, but he had connections. 
  • [08:28] What he spent his first big bucks money on. 
  • [10:11] His biggest expenditures have been making big investments in himself and taking huge monetary risks. 
  • [12:17] Loral shares how she and Mike are going to be partnering in a new company. 
  • [14:00] You need to steer clear of “if only” syndrome. Learn why!
  • [16:25] Mike shares his favorite investment wins and why they worked. 
  • [16:59] Plus one of his biggest mistakes in investing back into his business. 
  • [19:57] Learn more about his fail-safe in his business and the new book idea Loral is mulling over.
  • [20:53] One of the things Mike hates the most about his home investment. 
  • [22:15] Mike shares some of the catastrophic events that have happened in his business. 
  • [25:09] Mike shares his biggest brands that we can follow and pinpoint to him. 
  • [27:29] Why your product is secondary to your messaging. 
  • [28:37] Hear Mike’s tips and strategies for growing no matter where you’re at in the world or in business. 
  • [30:46] Transcendental meditation has truly changed his life.
  • [31:17] Connect with Mike.

Links and Resources:

Ask Loral App
Loral on Facebook
Loral on YouTube
Loral on LinkedIn
Money Rules
Millionaire Maker Store
Real Money Talks Podcast
Integrated Wealth Systems
Affiliate Sign-Up
The Power of Habit by Charles Duhigg
Mike’s Website
Mike on Instagram

Apr 5, 2021

This episode is the last part of our five-part series on luck versus intention. To wrap up luck versus intention we will be presenting some material about entrepreneurial leadership with Martha Hanlon. This is great capstone content to our luck versus intention series and showcases the level of education and content available to big table members.  

In this episode, Martha shares all about entrepreneurial leadership.  Martha shares a strategy for looking at the hours you work in your business and where you are spending your time.  Then she shares three key questions for building the entrepreneurial leadership you need to move your business forward. 

Show Notes:

  • [01:17] To wrap up luck versus intention we are going to be presenting about entrepreneurial leadership.   
  • [03:06] Loral and Martha share about past big tables and alumni meetings. 
  • [05:24] The piece that you must bring to your business is leadership. 
  • [07:12] We have a tendency to not spend very much time in our business leading.  
  • [08:32] How many hours on average, do you work in your business? Then divide those hours into each section of the pie. 
  • [09:27] Often we don’t have a lot of time in strategy and planning.  If you don’t have time in strategy and planning you don’t know where you are going, the path to take you there, or how to lead your team.  
  • [10:43] If you don’t bring someone else to do some of the fulfillment your business is only going to grow so far.  The only way to grow is to add more hours to your day or increase your prices.  
  • [11:22] When you lead people well they will be able to do the work, maybe even better than you. 
  • [12:14] In order to elevate your value to your business, you are going to have to drop some sandbags.  You can not elevate if you are being weighed down.  
  • [13:09] You have one responsibility as a leader.  You are responsible for those around you to rise up. 
  • [14:14] That rising up starts with yourself, and then moves to your team and then moves to your customers and then to your legacy. 
  • [15:06] If you are a creator your focus is the passion you have and your role is going to create it. 
  • [15:58] Technician’s value is the time and effort they put into the business. Their role is to control the business.  
  • [17:23] As a leader, your focus is thinking, vision, and building trust.  You can not outsource things to anyone.  Your number one responsibility is to inspire. 
  • [18:33] Leadership has stages. 
  • [20:20] Vision, building trust, and putting a plan together is your responsibility.  
  • [21:17] The stuff that is below your value needs to come off your plate. 
  • [22:38] First, trust in yourself and then work for your team to trust you and you to trust your team.  
  • [24:30] Whoever you bring into your wealth plan needs direction.
  • [25:06] What if your only job is to be responsible for rising up for this year? What are the only things that would be on your plate? What is required for your team to rise up?
  • [25:33] Your results will manifest when you lead yourself, your team, your clients, and your legacy.  This is your role.  
  • [25:47] Make sure you are always measuring those results, so you know you are on your way to your goal.  Then you know where to go to make improvements.  
  • [27:14] Action to take: Do you pie chart and answer the questions we discussed.  
  • [28:39] You can be working on your 2021 goals with intention.  

Links and Resources:

Ask Loral App
Loral on Facebook
Loral on YouTube
Loral on LinkedIn
Money Rules
Millionaire Maker Store
Real Money Talks Podcast
Integrated Wealth Systems
Affiliate Sign-Up
Luck or Intention Contest
Martha’s Website

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