24: J. Massey of Cashflow Diary | How He Amassed Wealth With No Money
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 27 March 2015
⏱️ 38 minutes
🧾️ Download transcript
Summary
#24: On the brink of homelessness, J. Massey pulled himself up. He became a master of raising private capital for deals without using any of his own money – because he didn’t have any.
In fact, he’s amassed a fortune and has still never used a bank for a real estate loan.
Listen to this week’s show and learn:
00:56 People’s worst financial trade of their life is one that they keep making every week.
06:07 J. and his wife’s touching story and rise from nowhere. They had to sell items on eBay to pay monthly utility bills.
13:04 By the time J. owned 117 houses, how others responded.
14:40 Real estate “wholesaling” is where J. first gained traction.
17:22 Today, “raising private capital” is the skill that J. helps others with to obtain wealth.
23:14 Raising private capital from others.
27:01 How does a beginner start to raise private capital from others? Details at CashFlowDiary.com/MoneyTool
31:20 How much time and what character traits are needed to raise private capital?
Resources mentioned:
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Transcript
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| 0:00.0 | Get Rich Education is brought to you by Audible, more than 150,000 audiobooks to choose from for your mobile device. |
| 0:09.0 | Welcome to Get Rich Education with Keith Winehole, giving you information and ideas on the investment that has turned more ordinary people into millionaires and billionaires than anything else and can |
| 0:23.0 | provide you with more wealth and happiness than you ever thought possible. |
| 0:27.5 | Now, here's your host, investor, entrepreneur, business owner and educator, Keith Weinhold. |
| 0:36.6 | Welcome to Get Rich Education, Episode 24. I'm your host Keith Weinhold. Welcome to Get Rich Education, Episode 24. |
| 0:39.3 | I'm your host, Keith Weinhold. |
| 0:41.3 | You know, education is the shortest distance between poverty and wealth. |
| 0:47.3 | People want change, but they don't take action. |
| 0:50.3 | You've distinguished yourself as someone that does. |
| 0:53.3 | When it comes right down to it, |
| 0:56.0 | everyone is a financial trader. But most people are making a bad trade because they're trading time for money. |
| 1:04.0 | It's the worst trade of your life because we can't get more time. We all know it. |
| 1:09.0 | Long ago, to me, real estate investing, that seemed like something |
| 1:13.5 | that somebody else did. I was slow to get interested in it. I thought real estate investing |
| 1:19.3 | meant that a person would have to own some old pickup truck and there would be a ladder rattling |
| 1:26.7 | around in the back of the truck half the time. |
| 1:29.6 | You'd have some old leather tool belt by the passenger seat ready to go at any time. |
| 1:35.3 | You'd be used to sniffing drywall dust up your nostrils from doing your own rehabs. |
| 1:39.4 | I mean, thank God that it doesn't. |
| 1:42.1 | When I started 12 years ago, I didn't know how to fix anything, |
| 1:46.8 | and I still don't, and I own millions of dollars worth of property in multiple states and countries. |
| 1:52.8 | I just focused on finding the property manager that handled the maintenance stuff, and I did |
... |
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