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Millionaire Mindsets

Ep. #77 - How To Navigate During A Pandemic & Recession with Adrian

Millionaire Mindsets

Xavier Miller

Entertainment News, Entrepreneurship, Society & Culture, Business, News

4.81.5K Ratings

🗓️ 29 March 2020

⏱️ 91 minutes

🧾️ Download transcript

Summary

On today’s episode we have special guest Adrian. He is the Founder of Growthipedia & Author. During this episode we discuss why it’s important to re-evaluate your game plan during this pandemic, short term & long term effects on the economy, Kubler-Ross stages, commercial real estate, Growthipedia, why it’s important to have cash on hand, OPSEC, the stimulus bill, unemployment & what things you can do to get back on your feet if you are unemployed and more. For more information follow him on Twitter @Aoverk and checkout Growthipedia at www.growthipedia.com --- Support this podcast: https://podcasters.spotify.com/pod/show/millionairemindsets/support Advertising Inquiries: https://redcircle.com/brands Privacy & Opt-Out: https://redcircle.com/privacy

Transcript

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0:00.0

And then that's like the first rule of investment because a lot of people think investing is about like,

0:04.8

oh, you know, let me look at this and then see how much it's going to go up over time.

0:09.2

I'm like, that's backwards because you don't know how much time you got. Invest in is about buy assets at a reduced value in price because the price and the profit is made at the purchase, not at the sale, because you want to own it forever.

0:25.0

And so when you're looking over time, you don't know how much time you have as far as whether living or business or investing, you don't know what your timeline is.

0:38.0

But you want your capital to be making money as soon as you purchase something. You don't want to like you wanted to be made at

0:47.0

that initial buy. You want to purchase at a reduced market like any price is less than market value.

0:53.0

In stocks it may be less than book value, it may be less than its, you know, price to

0:58.1

earnings ratio, it's, I mean, it just may be less than its you know 52 year price or whatever in real estate it may be

1:05.8

low be below it's at the repair value or compared to its cops you know that's that's when the prices and the deals

1:14.4

are really made and the value is there

1:16.6

because if you buy at a reduced rate,

1:19.2

you can instantly sell it at market rates

1:21.4

and make a profit.

1:22.6

Like within days, so then you're not worried about,

1:26.1

you know, if it goes up, because you already got profit in your pocket.

1:31.1

You can go take that to a bank and be like, hey, that's a marketable asset that has equity already in it that you can borrow gets, that you can leverage into other things, and you haven't even had to wait on any

1:44.6

appreciation in that asset because you bought trying to make a million dollars if you're trying to make a million dollars if you ain't

2:05.1

gonna do it for yourself and do it for your mama only stay surrounded by them people

2:09.2

if you know they solid elevate your husband up today to double up your profit.

2:13.0

Try to learn some young, every I gonna talk about it.

2:16.0

No the honest speak that shit that everybody voucher.

2:19.0

Ain't no more excuse is valid.

...

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