From Broke to Building a Millionaire University with Justin Williams | The Jake and Gino Show

[00:00:04] is Multifamily, Cake off, is October 25th, 26th and 27th in Denver, Colorado.

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[00:00:25] This is the results-based education that you're looking for.

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[00:00:45] for Jake and Gino's Multifamily take-off.

[00:01:01] Hello, this is Shakespeare, I'm from J.Gino Podcast with my co-host, a Multifamily Mentor, the coach has

[00:01:05] chef, the father of six to best line off their...

[00:01:08] The Gino Barrage, Gino has gone.

[00:01:11] Jake, I haven't talked in a couple days.

[00:01:14] I can't even better than I do.

[00:01:16] It's a couple days.

[00:01:18] I truly miss behind me.

[00:01:19] My daily fix of Jake.

[00:01:21] I say that a day without sunshine is like a day without Jake, you know?

[00:01:25] Jake and your life every single day.

[00:01:28] I'm just getting out Jake.

[00:01:29] How are you feeling, brother?

[00:01:30] Always making it happen, big man.

[00:01:33] Today's guest, left college just a semester shy of graduation.

[00:01:38] Oh man, he was so close.

[00:01:40] He did that to Chase's dream of entrepreneurship.

[00:01:43] This is going to be interesting.

[00:01:44] We got some things to talk about already.

[00:01:47] We started off leading to financial struggles, eventually led to harder and

[00:01:51] success.

[00:01:51] He's now built multiple seven figure businesses and currently runs

[00:01:55] Millionaire University.

[00:01:56] He's now just had a graduate rich by creating their financial freedom.

[00:02:01] So we're dropping out and now we're creating colleges.

[00:02:03] We got a lot to unpack here.

[00:02:05] So I'm further ado, Justin Williams, welcome to show.

[00:02:07] How's it going guys?

[00:02:08] Damn, I'm jealous.

[00:02:09] I want to Jake and Gino in my life.

[00:02:11] It's not fair.

[00:02:12] Well, you can only have one.

[00:02:13] You have a Jake or a Gino.

[00:02:14] You like you can't get both of them.

[00:02:15] All the sides.

[00:02:16] After the interview, I'll pick what you want.

[00:02:18] You definitely going to take Gino.

[00:02:20] I don't know about that.

[00:02:22] So, dude, I got a bunch of balls a little bit here.

[00:02:24] So you dropped out of college to defer it out in the streets to teach other people.

[00:02:30] Like, that's a little hypocritical.

[00:02:31] No, you can profess there must be pissed.

[00:02:33] A little bit, something like that.

[00:02:35] Not only that, I think my football coach, well, he actually wasn't pissed because

[00:02:38] I gave up my football scholarship and I was injured.

[00:02:42] So I had a lot for another scholarship.

[00:02:43] So he was probably fine.

[00:02:46] But I was literally getting paid to go to college and once I heard my shoulder playing

[00:02:50] football.

[00:02:50] Come on, this was before an L deals.

[00:02:52] You weren't really gay.

[00:02:53] Yeah, yeah, right.

[00:02:53] Well, no, okay.

[00:02:55] I wasn't getting paid a lot, but I wasn't paying to go to college.

[00:02:58] I was getting paid something, right?

[00:03:01] No, if there were any of the L deals, I probably would have stayed.

[00:03:04] But I probably wouldn't have been making a whole lot anyway.

[00:03:07] But yeah, I just, I couldn't, it wasn't for me.

[00:03:10] Everyone said, go to college because that's how you got to do

[00:03:13] to be successful in life and I knew I wanted to go in the business.

[00:03:16] I knew I wanted to be an entrepreneur.

[00:03:17] I knew I wanted to create wealth.

[00:03:18] But I knew I was going to these classes and learning about rocks.

[00:03:21] And while now being the O'Fourty 3, I can sit down and watch a show on Netflix about rocks

[00:03:28] and the planet.

[00:03:29] It's very interesting to me at that time.

[00:03:30] I just wanted to learn how to make money and take care of my soon-to-be future family, right?

[00:03:36] So yeah, I just, I just, in my experience, and I've said this a lot before.

[00:03:42] I got very little value out of college and high school and these things.

[00:03:48] And I've got tremendous value from others though.

[00:03:50] And other's teaching, it just has not come in the form of traditional school.

[00:03:56] I, you know, even from, you know, we're sort of also living our values.

[00:04:00] Gino has six kids all home school.

[00:04:02] I have three kids.

[00:04:03] They're all home schooled and I would have to guess that our curriculums are pretty far away from what they're learning in the elementary schools.

[00:04:17] So it's amazing.

[00:04:18] All I would say though is I advocate college for a lot of people.

[00:04:22] Both of my older children went to college.

[00:04:24] I don't know what they do.

[00:04:25] They both, well, listen, they went to a college and they already were strong in their values.

[00:04:30] They were strong in their faith so they weren't swayed easily.

[00:04:33] They understood simple logic.

[00:04:34] What do you think about me?

[00:04:35] Wait, it was just like some kind of like, you're about to read Pillar's guy?

[00:04:38] Well, when you talk about it, you know.

[00:04:40] They were strong in their foundation and they went there to learn.

[00:04:43] They went there to get into some type of rhythm.

[00:04:45] My son went for accounting and finance to learn about statement of cash laws and balance sheets and income statements and debits and credits.

[00:04:52] So there is value if you can teach your kids, but if you're just going for a sociology degree and get $150,000 in student debt and then walk out and be like,

[00:05:02] Just in not even have the degree which almost what's the study of what's the study of rocks?

[00:05:08] What do they call that?

[00:05:09] Geology?

[00:05:10] No, it's not.

[00:05:11] Do you study of rocks?

[00:05:12] I forget.

[00:05:13] That was your major though, dude.

[00:05:15] You know, my major was PE.

[00:05:18] Dude, that was mine.

[00:05:21] Nice.

[00:05:22] I was going to major in business and I went and talked to a counselor.

[00:05:25] I didn't know I could talk to a counselor.

[00:05:26] My cousin was going to talk to a counselor.

[00:05:28] I should go talk to a counselor and I was telling them I wanted to major in business and we have a football scholarship and

[00:05:33] They're like, how's it going to take like 70 hours a week?

[00:05:36] Can you can't work on the side?

[00:05:37] You can't.

[00:05:38] You can't have fun basically.

[00:05:39] And I'm like, that's lame.

[00:05:40] What's an easier major?

[00:05:41] So PE, to me, was needed to do any of the,

[00:05:44] Did you do any of like the, I forget what it's called but where you go out to the schools and you actually start like, you know, doing teaching and stuff.

[00:05:51] Yes, and that's when I knew I did not.

[00:05:53] That's when I stopped doing the same thing too.

[00:05:55] I'm like this is glorified fucking babysitting.

[00:05:58] I can't do this.

[00:05:59] This kids dogs.

[00:06:01] Those kids were in like Marilyn Manson, Jersey's on the bleachers.

[00:06:03] I'm like, we're going to play this football.

[00:06:05] What are you doing?

[00:06:06] I'm just saying, I was like, I hate this.

[00:06:10] And I also get paid nothing.

[00:06:12] I realized like how much you get paid and I'm like, I can't do this.

[00:06:16] I'm like, I'm not, and then I'm going to take thickness class about rocks as nothing to do about P.E.

[00:06:21] Or anything.

[00:06:22] I was like, this isn't sane.

[00:06:23] I have all these people in my life telling me,

[00:06:26] Gotta go to college from like the time I was low.

[00:06:28] You gotta go to college.

[00:06:29] Bro, I was working at Radio Shack making commission more than the gym teachers were making while at part time.

[00:06:36] And that's why I was like, I had this come to Jesus with my dad when I was driving home from my parents house.

[00:06:40] And he's like, just stop, you don't have to do it.

[00:06:42] Just, but he, I finished though.

[00:06:43] But I didn't get a visit to agree.

[00:06:45] I got like a general whatever the game the credits for having whatever.

[00:06:48] I don't know.

[00:06:48] Yeah, on the weekends I would go to like trade shows and get people to go to time share presentation.

[00:06:53] And then I started selling satellite dish.

[00:06:55] And I was making 50 to 100 bucks an hour doing that.

[00:06:59] And I was going to, now I was, how to like finish college.

[00:07:02] And here's the kicker.

[00:07:03] The semester I had left was student teaching.

[00:07:05] And I was like, there is no way.

[00:07:06] That's what it's called student teaching.

[00:07:07] That's what I remember what that was.

[00:07:09] Dude, that shit was crazy.

[00:07:10] No, because I started, I might did a couple like practice ones.

[00:07:14] Yeah, I think I am not going to do this for six months and I had biology.

[00:07:17] I don't want to take biology either.

[00:07:19] I was like, I'm not going to do this for six months to then do it for the rest of my life and get paid peanuts and hate it.

[00:07:24] And I'm neither am I going to do it for six more months so that I can like help my mom and dad.

[00:07:29] Hey, I did it.

[00:07:30] Good job.

[00:07:31] Yeah, I got my piece of paper.

[00:07:32] Like I was like, no, like I'm too stubborn.

[00:07:35] I like I do.

[00:07:36] That's be honest.

[00:07:36] You can show up at 7.30, work till 3.30 and then coach three or four sports to like eight o'clock at night.

[00:07:43] And make minimum wage.

[00:07:45] That doesn't sound good to you.

[00:07:47] Tell me.

[00:07:47] I know I'm like that.

[00:07:48] I feel so bad for your teacher out there.

[00:07:49] I'm not hated on you.

[00:07:50] Bless the teachers.

[00:07:51] We need people teaching people but like it just doesn't seem like the values there.

[00:07:56] Yeah.

[00:07:56] In my mind too, I was like, oh, I know a principle that makes like okay money.

[00:07:59] I could do that.

[00:08:01] But it still is like peanuts compared to what and then you got to go through all this.

[00:08:04] There's no way you're going from the gym teacher to the principal, like maybe in 20 30 years.

[00:08:08] Exactly.

[00:08:09] They were not going to keep you in the knee all the way trying to do that shit.

[00:08:12] Exactly.

[00:08:13] But to going back to what you guys were saying earlier, I am a huge proponent of education.

[00:08:17] People think I'm against education.

[00:08:19] I'm actually more for education than 99.9% of the world.

[00:08:22] I mean, people go to college and then they think they're done.

[00:08:25] And back to your point, you know, like I got an 18 year old right now.

[00:08:29] He actually just got married.

[00:08:30] That's a whole other story.

[00:08:32] So we have two 18 year olds living with us.

[00:08:35] We thought he was going to go off on like, do you know, I mean, you heard you mentioned your daughter

[00:08:38] this mission and where kids could go off in the mission instead.

[00:08:41] And they're getting married and they're probably out there.

[00:08:43] Probably, he was probably loving it that they're a doorholder, maybe.

[00:08:45] But I tell you what.

[00:08:48] I am almost every day.

[00:08:50] I regret not encouraging him to go to college because if he was at college, he could get baby

[00:08:57] to that instead I have to babysit.

[00:08:59] But what kind of babysitting is it getting, right?

[00:09:01] Is it Karl Marx babysitting or is it like at home?

[00:09:03] You might be better off.

[00:09:05] So I'm joking.

[00:09:06] He's amazing.

[00:09:07] It's hard.

[00:09:08] Like not everyone is wired the same.

[00:09:10] And to me, like that's why we created Millions universe.

[00:09:13] I still believe that he will at some point create a successful business because he's working

[00:09:16] right now and I could else wear him down.

[00:09:18] He's like, I'm making like hardly anything this sucks.

[00:09:21] I see like what my parents have.

[00:09:23] And he knows he has like a year to live with us and then like,

[00:09:26] I could like, man, I could get it figured out.

[00:09:29] So I'm pretty sure he's going to get into cells here and then eventually help figure out a business.

[00:09:34] But anyway, it's interesting.

[00:09:36] I'm not against college.

[00:09:37] Just I just think it could be way better.

[00:09:39] Like it's a great experience for some people but it could be ten times better anyway.

[00:09:43] What I'm hearing is this is going to be called the Justin and Jake show because

[00:09:47] Gino just got vetoed out.

[00:09:49] So you, I think Jake is like couple notches above Gino right now.

[00:09:52] So I got to step up my game here, Jake. I just got to start asking.

[00:09:54] I think you got to nice sure down baby step up.

[00:09:57] You know, Justin, you get into real estate and into flipping homes and is that the entrepreneurial dream?

[00:10:03] Was that what you were looking for to create wealth?

[00:10:05] You know, I mean, growing up, I always wanted to start my own business and I looked back in this moment

[00:10:09] actually at this morning.

[00:10:10] I was actually having like almost like a tear-eyed, you know, moment because I've always said like

[00:10:14] my parents like they were never successful like in business or anything like that.

[00:10:19] But man, they were constantly doing like not what we call side hustles today.

[00:10:25] My mom probably had like 20 different little businesses that were always doing MLMs.

[00:10:30] And so I do think in a way like number one as a child my dad graduated in 1980 the same year.

[00:10:36] I was born in construction management and if you know anything about that time,

[00:10:40] like interest rates were like 18%.

[00:10:42] And it was insane and he could not get a job.

[00:10:45] So they say you don't remember things but when you're like 2, 3, 4.

[00:10:49] I remember my prayer every day was that my dad wouldn't get light off from work that day because it happened on a regular basis and we usually can pay our rent

[00:10:59] and this was like what area the country would be in the room?

[00:11:02] Well right now, I mean, I love him.

[00:11:04] No, no, when you're kid when you're kid.

[00:11:06] Oh, I was born in Idaho and then my parents lived in different parts.

[00:11:10] My dad like he went with the Bakers fellow one point so he could work on an oil dairy

[00:11:15] because he was just taking whatever jobs he could get.

[00:11:18] But we lived I forget where it was but we lived in this house that didn't have air conditioning or heating in an area that was freezing cold

[00:11:26] and it was just it was brutal.

[00:11:29] My mom one day went to the landlords who lived across the street who had like this huge house

[00:11:32] and she was like, here's like the rent was like $300 or something like that.

[00:11:38] And she was like, here's 200 like it's all like, can do it.

[00:11:40] She's like, well you guys are gonna have to move out.

[00:11:42] You know, and I just wanted to have a different life than that.

[00:11:48] But my parents also they were constantly trying to make money because probably my dad struggled with getting a job

[00:11:53] and they were doing all these like MLMs and they never like succeeded any of them.

[00:11:58] So I think I had a little bit of a day to my mouth but also being around some of those people

[00:12:02] and I do remember like I read Rich that poor dad and I was an 18 year old in high school like in my senior year

[00:12:08] because someone gave that book to my parents to read.

[00:12:12] And so I had these things in my life.

[00:12:13] There was an MLM sensation from what I heard from somebody.

[00:12:16] Like I got kicked around some MLM and that's where it like caught fire.

[00:12:21] Oh, that's a very, that's really interesting.

[00:12:22] But that's probably why it was in your house.

[00:12:24] Yeah, but I remember getting married and I talked to my wife about like, oh yeah, we're gonna own like we're going to buy rental properties.

[00:12:31] I was ditching college classes to go get my real estate license.

[00:12:34] I didn't know anything.

[00:12:35] I didn't know there were guys like you guys or people that you can go to like seminars and learn how people

[00:12:40] teach you how to make buildings with dollars.

[00:12:41] I had no clue that even existed which is hilarious like looking back.

[00:12:46] But I knew I read this book called Rich.

[00:12:48] I just knew in my mind that you could buy rental properties and buy houses and the goal was to have more money coming in and coming out,

[00:12:53] the whole, you know, financial freedom as you call it.

[00:12:58] And my wife was just blown away by this as if we were dating and I talk about this.

[00:13:01] I think that's how I got her to marry me is like this guy is like he's gonna make it happen.

[00:13:06] I'm like, yeah, you know, let's go.

[00:13:08] So I always had it in my head.

[00:13:10] Yeah, like you become financial free by real estate and or create a business and like why not?

[00:13:16] But little did I know what I didn't know.

[00:13:18] I once I started the business, we ended up $120,000 a day and a fell partnership and ended up moving to Baker's fills

[00:13:23] ourselves and living in what we called the bachelor pad and practically homeless and anyway.

[00:13:28] It was fun times.

[00:13:29] But when you started, when you started the flipping and you get into the flipping.

[00:13:34] How did the business start?

[00:13:35] Because you said you're doing 100 homes a year at one point.

[00:13:38] How did you scale up to that from practically nothing to getting on to 100 homes?

[00:13:43] Yeah, so we started off.

[00:13:45] We were doing satellite dish and I was kind of over that and I had a friend that was in real estate.

[00:13:51] And I called him up.

[00:13:51] I'm like, what, you know, tell me about things.

[00:13:53] Oh, I'm going to this seminar this next weekend in Atlanta, Georgia.

[00:13:57] But this guy that teaches us and called short sales.

[00:14:00] I had no idea what short sales were, but I got on like a 90 minute call and we signed it for the seminar and we were like,

[00:14:05] Oh, you kidding me?

[00:14:06] This guy's going to teach us all this stuff and went to the seminar.

[00:14:10] I understood like 5% of what was being taught.

[00:14:13] But I was all in we paid the guy like $12,000 to join his program today.

[00:14:19] That would be like 30,000 or whatever.

[00:14:21] I mean, the way to whoever is the best student was going to win a car.

[00:14:25] So I was like, well, $12,000 to win a $30,000 car.

[00:14:29] Let's do this and long story story actually won the car but we never got it.

[00:14:34] So that's the fun story.

[00:14:36] That doesn't feel good.

[00:14:37] No.

[00:14:39] That's a crack of shit.

[00:14:41] I come back.

[00:14:41] I go get him now.

[00:14:42] We kind of try, but also, you know, it's like how much energy you're going to put into a thing.

[00:14:47] It still pisses me off.

[00:14:48] So Justin, let me ask you the, what's the difference between somebody who knows nothing?

[00:14:53] You said you know 5%.

[00:14:54] But you take massive action and you become successful versus I'm sure you've met a lot of people in your community

[00:15:00] in your university that come in that are really intelligent, really educated, have the financial capability.

[00:15:07] But yet struggle and don't succeed.

[00:15:09] What is the difference?

[00:15:11] So I mean, kind of going back to the question asked me how do we go from like zero to a hundred essentially.

[00:15:16] So we got into, we did like, gotten to show ourselves took us eight months to do our first deal.

[00:15:21] And I actually listened to the last podcast that you guys just published and kind of like a similar thing you were talking about.

[00:15:26] It took so much time energy effort and all its things to learn tons of insane action to do one deal in eight months.

[00:15:35] But we were 18 months.

[00:15:37] Yeah, right?

[00:15:37] You guys are doing big deals but like, to do what was like one house right?

[00:15:41] Makes 17 grand.

[00:15:42] Like it's so nothing, breaking that's like insane faith right?

[00:15:46] You've got to believe but I saw other people doing it.

[00:15:48] I'm like, other people are doing it.

[00:15:50] I know this guy is pretty smart but that guy is dumb as well.

[00:15:53] And then he was like, I know I'm, I know I'm smarter than that guy.

[00:15:57] And he's doing it.

[00:15:58] So I think we can do it and just take an insane action.

[00:16:01] But it took eight months to get that first deal.

[00:16:04] And then the next like month, like two months to do the second one.

[00:16:07] And then next one who did one of them, we did two, you know what I'm like, okay.

[00:16:10] We're starting to build some momentum here.

[00:16:14] And then eventually that got to where short sell started to change.

[00:16:20] And we were about to do our first flip and I was so scared.

[00:16:23] This was like two years later.

[00:16:25] I was so scared to flip this house because it was actually real money.

[00:16:27] We weren't just wholesaling, right?

[00:16:30] And I know you're listening to understand wholesaling.

[00:16:31] So I'm trying to explain but the risk was minimized through the whole selling, right?

[00:16:36] So this was actually a deal that we were doing.

[00:16:37] It only costs like 70 grand.

[00:16:39] Like looking back is nothing, right?

[00:16:40] But I was using one of my dads, like guy that worked with my dad, his money.

[00:16:45] This guy was trusting me.

[00:16:46] And I was so scared to lose his money.

[00:16:49] You should have been.

[00:16:50] I know, right?

[00:16:51] But I was so scared that it paralyzed me and caused me not to go forward and do a bunch of much more bills.

[00:16:59] So what happened to his eyes?

[00:17:00] Because you would have had to use his money or like what's the psychology behind that?

[00:17:04] I think I mean it's the whole, the whole, yeah, the fear of losing money.

[00:17:08] The whole like, you know, limbic system, I am like, like I was, I was feel like I was getting attacked by a bear when it wasn't really a bear.

[00:17:16] It was just, I was better when you're using your own money though, right?

[00:17:20] For me personally, like I'd rather go out and do my own money than I have enough money to do it.

[00:17:27] So use this reason.

[00:17:28] No, but you make a money on a few deals.

[00:17:29] You can open yourself to doing your own is like, I think we're my money.

[00:17:32] What eventually happened?

[00:17:34] So, but what was interesting is then I heard about this thing called, you know, rental properties,

[00:17:39] which I knew about rental properties with my friends was trying to accumulate these rental properties.

[00:17:43] I'm like, oh yeah, rich debt poor debt.

[00:17:44] The rental properties I always wanted to do this.

[00:17:46] So once I started looking at rental properties and figuring out the criteria for those,

[00:17:50] I was able to buy more houses because I wasn't afraid of losing the money because the numbers made sense to me.

[00:17:56] So we bought 12 properties over a three month period, which was the most deals we've ever done in that short of period of time.

[00:18:01] But then we were a lot of our money. We had a baby on the way.

[00:18:04] I didn't have, like, I didn't know a lot of private money liners at the time.

[00:18:07] And we were like, how the heck we're going to pay our bills.

[00:18:10] I'm like, this sucks about 12 houses.

[00:18:11] They're each cash falling at a couple hundred dollars a month,

[00:18:14] but with all the expenses we have, like crap.

[00:18:17] So kicking and screaming.

[00:18:19] So I wanted to get like a hundred for these properties.

[00:18:21] We sold one of those and then we ended up selling three of them because they weren't rented out yet.

[00:18:26] And we made as much money as we needed to pay for our bills for a year.

[00:18:30] And that was the best filling ever.

[00:18:32] I'm like, it's real.

[00:18:34] It's real.

[00:18:35] It's real.

[00:18:37] So in, in, like, within a month we made enough money more money than we needed for a year.

[00:18:42] And it kind of like hit us and like, what if we could do this again?

[00:18:45] And again and again.

[00:18:46] And so that's kind of we just kept buying these and, oh, so in my mind, what happened was

[00:18:52] I was like the worst case scenario is as to where before as a friend of losing the money.

[00:18:56] I'm like the worst case scenario we now have these rental properties that we initially wanted anyway.

[00:19:01] So psychologically getting rid of that.

[00:19:03] If you can't sell them, you got to be a cash on.

[00:19:05] Then we got a rental property.

[00:19:06] Now that's what I really wanted anyway.

[00:19:07] So it's like it's a win-win.

[00:19:09] So we just kept going with that kind of found some areas that were really good for us.

[00:19:14] And then eventually you showed like the deals that we were doing to this guy.

[00:19:20] And that but then I was understanding where about returns and velocity of money and shield this guy.

[00:19:25] It's like hey, we're making like 20% on these houses.

[00:19:28] We're turning them three to four months.

[00:19:31] On average we're making 50 to 60% on the total cash invested.

[00:19:36] And this guy had the pockets he understood real estate and he's like, I'll take half of that.

[00:19:40] You know, no problem.

[00:19:41] So he became our JB partners.

[00:19:43] So then because now we had the area.

[00:19:45] We had the crews and we was there.

[00:19:47] We felt these systems.

[00:19:49] So I'm in California.

[00:19:50] We were buying a lot of these in like the high desert of California.

[00:19:54] Um, has spare area kind of Coachella Valley.

[00:19:58] Um, some in San Bernardino County, someone like Riverside County area.

[00:20:04] But yeah, we were buying a lot of like trusty cells at the time.

[00:20:08] And I mean, I feel like I was the first one who kind of discovered buying houses out in like,

[00:20:13] Yekka Valley at the trusty cells.

[00:20:15] Like I would see these houses like doing selling for like 34 grand to better house that was where

[00:20:22] So I mean, like I don't give a shit.

[00:20:23] Just give it to me.

[00:20:24] I don't even see it.

[00:20:25] Oh, I never, I never bend into the area.

[00:20:27] I bought, I probably bought 10 houses in that area before.

[00:20:30] It was probably because it's called Yekka Valley who went good go to Yekka Valley.

[00:20:34] It's got some, you know, something kind of.

[00:20:36] They told them it was like 30 grand and I knew once again my rental,

[00:20:41] the rental background I knew I could rent it out for 800, 900 bucks.

[00:20:46] Didn't need more than five grand into it.

[00:20:47] That's easy math, right?

[00:20:49] Yeah.

[00:20:49] It's easy math.

[00:20:49] I'm like, I can't, I don't see how I can lose here.

[00:20:53] The casual ain't Yekka.

[00:20:55] That's for sure.

[00:20:56] So um, just an edge of expanding one of my montras that I truly believe in my soul and

[00:21:02] And in my fiber and in my being is people financial intelligence can change the world

[00:21:07] for the better and your mission with millionaire university.

[00:21:10] It seems as if you're a proponent of that statement and of those sentiments,

[00:21:15] what made you want to create a millionaire university?

[00:21:18] So it was a few years ago.

[00:21:19] Those are kids where teenagers I still are teenagers but approaching that like,

[00:21:23] college age if you will about to finish high school and

[00:21:28] I just got constantly complaining about college because I

[00:21:31] Strucks I wanted my kids to go have that college experience.

[00:21:33] I wanted to learn.

[00:21:34] I wanted to have that accountability.

[00:21:37] But I was just thinking about like college like you go to classes,

[00:21:40] you don't choose your classes per se.

[00:21:43] I mean, you kind of do what you don't.

[00:21:44] It's like there's like classes that you have to go to.

[00:21:47] If all these classes you don't really want to go to your teachers,

[00:21:49] you may not necessarily want to give you assignments that may or may not be beneficial.

[00:21:54] Sure.

[00:21:54] It's good to learn work ethic.

[00:21:55] It's good to learn habits.

[00:21:57] But for me, it was already learned work ethic.

[00:21:59] I was learning work ethic.

[00:22:04] I was learning work ethic.

[00:22:04] So if kids take out the trash, so if I can have the teachers or

[00:22:08] like so it depends at what level of this is.

[00:22:10] It's just an entire right seriously man.

[00:22:12] I've talked about the shop collars and I always get in trouble with

[00:22:16] by my kids and my wife when I bring that up.

[00:22:20] But that's the thing.

[00:22:21] Like it depends like to me it's like if you're not going to

[00:22:25] be self-motivated then you're flipping hamburgers and

[00:22:29] you're better off going to college.

[00:22:29] I'll tell my son I'm like hey, you can flip burgers for a year.

[00:22:32] But if you don't figure out a business or get a sales job like I mean,

[00:22:41] he's not at all.

[00:22:42] But it's like still I'm like you got to go to college or you've got to

[00:22:46] figure out when these things out because there's three levels.

[00:22:48] It's like you're either flipping the burgers or you're figuring out

[00:22:50] the higher income or you're going to college.

[00:22:53] It's just like in the middle.

[00:22:55] So anyway as far as as far as money goes right.

[00:22:59] What's target pain?

[00:23:01] You get paid 18.

[00:23:02] 15.

[00:23:04] And then the thing that drives him crazy is sometimes he'll sell

[00:23:08] like protection plans and stuff like that.

[00:23:10] And the commission is so small it's like a dollar.

[00:23:13] So this is not motive.

[00:23:16] No, and that's in California.

[00:23:17] So California gets paid more and he's living with us.

[00:23:20] So he's able to take advantage of not paying a rent.

[00:23:23] But making more money and California but still not.

[00:23:25] So what does he need in California to get by?

[00:23:27] He needs to be like loaded mid 20s with a significant other

[00:23:30] way to do in the same thing probably to build a forward rent and things like that.

[00:23:34] Yeah, you said loaded mid 20s.

[00:23:36] I'm sorry.

[00:23:36] Yeah.

[00:23:37] So if him and his wife are making loaded mid 20s they could probably put

[00:23:42] him up together to get out on their own right?

[00:23:43] But not if they they team mark.

[00:23:46] Yeah.

[00:23:46] Like barely.

[00:23:47] I mean they want to live in Southern California.

[00:23:50] They want to buy a house and it doesn't like.

[00:23:53] So what we'll do around songs.

[00:23:54] We'll sit down with them because I feel like I'm giving a pep talk like every day.

[00:23:57] Like okay.

[00:23:58] Come on.

[00:23:59] You gotta do this.

[00:24:00] You gotta do this.

[00:24:01] Don't get me wrong.

[00:24:01] He's a great kid hard worker.

[00:24:03] Hard of gold, right?

[00:24:05] But the reality is like sometimes they just don't know their reality.

[00:24:09] So like what are what are your goals?

[00:24:10] I'm not going to tell you my goals for you.

[00:24:12] What are your goals?

[00:24:13] And then just have them break down the math and also they're like, oh shoot.

[00:24:16] So unlike me, like I'm an extrovert.

[00:24:19] I talk to people like I was doing cells.

[00:24:21] He doesn't like talk to people on the phone.

[00:24:23] But all said he's getting more open to it because just like in rich

[00:24:27] pot.

[00:24:28] I'm going to have a poor dad.

[00:24:28] They got to go work and he's like this sucks.

[00:24:30] So I'm like, hey, go work.

[00:24:32] Do what you gotta do.

[00:24:33] And I think in his mind, he's like, well man, this sucks.

[00:24:36] Maybe I will be more open to doing cells and work harder and starting this business.

[00:24:41] And so does does the door lock at the end of the before he turns 19 at the house or how

[00:24:46] does it go?

[00:24:47] No, I mean, he actually turns 19 next week.

[00:24:51] So he's still there.

[00:24:52] So how long has he got before dead put some sleep?

[00:24:54] We essentially told them.

[00:24:56] And it's kind of up to them too.

[00:24:58] I mean, it's not like they're getting put on the street right away.

[00:25:01] The thing is as long as I tell them.

[00:25:03] But it's coming.

[00:25:05] Can you hear that Johnny?

[00:25:06] It's coming.

[00:25:07] They think they're going to be here.

[00:25:10] Well, they think within a couple months, they can move on.

[00:25:12] Like, I know it's not going to be all that.

[00:25:14] So they want to at least.

[00:25:15] They, yeah, they want to.

[00:25:16] I'm trying to nag them enough to where they want to.

[00:25:19] I just kind of like, there's a little week of it.

[00:25:21] They want to.

[00:25:21] I just don't know if they want to.

[00:25:24] I don't want to.

[00:25:24] No, it's fun and it's fun having around.

[00:25:28] We just know my, my rule for them is essentially minimum.

[00:25:32] And I up to last on Sunday to 50, but that minimum 40 hours a week of production.

[00:25:38] That means you're either working.

[00:25:40] You're going taking college classes.

[00:25:42] You're studying for business year applying business.

[00:25:45] But the problem is sometimes like when he's trying to work towards that business,

[00:25:49] he gets distracted.

[00:25:50] So I'm like, it's got to be focused.

[00:25:51] I got to know what you're doing.

[00:25:52] Is there?

[00:25:53] Is there a home?

[00:25:56] There, there's not where our goal is to help them.

[00:25:59] This I don't want to get too distracted from your podcast, but they worked really hard.

[00:26:02] They saved up for a car and they had the car for three weeks and two days ago right out here in front of our house right up.

[00:26:08] PCH is just right out here.

[00:26:10] We hear this loud.

[00:26:13] What's PCH at the last?

[00:26:15] It's specific coast highway.

[00:26:16] So the ocean is just right here.

[00:26:18] We live, we just live.

[00:26:19] But so people I was driving by looking at the beach.

[00:26:22] Their car was parked down in front on the street because we're like, hey, that's like the road orange county down to like San Diego right?

[00:26:28] Yeah, yeah, we San Diego.

[00:26:30] Um, they were just here this loud bang.

[00:26:33] And I was like, what the heck was that?

[00:26:35] And Jay is his wife.

[00:26:37] We were talking to him and he was like, that was a car accident.

[00:26:40] So I run out there.

[00:26:42] Like, oh, I'm hoping I'll find anyone dead, right?

[00:26:44] And this person was texting.

[00:26:47] She got she luckily she everyone was okay.

[00:26:48] But she hit bare car and it was up on this wall.

[00:26:53] So their car that they finally caught is now totaled.

[00:26:56] So anyway, that's a side.

[00:26:59] But Justin, so you don't like college for yourself.

[00:27:01] You know, like, how did you structure millionaire university?

[00:27:04] How do people get on to millionaire university and start using these?

[00:27:08] So it's just a vision of millionaire university.

[00:27:09] And I'm a big fan of take action fell forward fast to make it happen.

[00:27:13] So millionaire university is over time going to evolve to become what we want it to be.

[00:27:18] And this very moment, it's not 100% what we wanted to be.

[00:27:22] But the whole idea is take everything I like about college.

[00:27:25] They're saying I don't like about college and get rid of it.

[00:27:29] Right? The whole idea, graduate rich, not broke.

[00:27:31] College you go to school and you learn like theory and you do busy work.

[00:27:36] I want to learn on the job.

[00:27:39] I want to, from day one, the concept would be someday to have maybe it's young people,

[00:27:44] like that would go to college. They come to this campus and it's like,

[00:27:48] Hey, what do you want to do? I want to do this thing.

[00:27:51] Okay, let's go. Let's get to work.

[00:27:52] And then you do have, you have classes like out of build a website,

[00:27:56] out of run Facebook ads, all this stuff.

[00:27:58] But it's like, what business do you want to do? What's the thing that you're passionate about?

[00:28:02] Let's actually have work towards value creation.

[00:28:04] Work towards that. Yes.

[00:28:05] The motivation is so much stronger.

[00:28:07] The work I was doing, like, I was just like,

[00:28:10] what's the best loophole I can find here to give the teacher what they want?

[00:28:14] So I can get my letter. So I can get my paper.

[00:28:16] You're talking like a pre incubator, essentially.

[00:28:20] Kind of something like that, but a little more.

[00:28:23] I mean, I don't know, I understand incubators to a degree.

[00:28:27] But something that like my 18 year old son could fit into,

[00:28:30] like that would be my dream.

[00:28:31] I guess if I sat in my fingers today and had something that was kind of like a structure,

[00:28:35] but also allowed them to make money and fell and kind of in like a safe space.

[00:28:41] Like I would love, I would all over that.

[00:28:42] Like let's go right now.

[00:28:44] So before we go to the short answers,

[00:28:46] work and people get more information on how to join millionaire university.

[00:28:49] Maybe if they want to start, you know, putting a course on there or

[00:28:53] they want to give any kind of ideas,

[00:28:55] working they reach out and get more information.

[00:28:56] So millionaire university is good.

[00:28:57] Millionaire university dot com.

[00:28:59] And then we have our podcast millionaire university.

[00:29:01] We are actually just so basically we've been doing millionaire university

[00:29:05] for year and a half.

[00:29:07] The idea first was just do the podcast, grow an audience.

[00:29:10] I mean, I'm going to be honest, we have a great life.

[00:29:11] Like we just got done traveling the world for nine months with our family.

[00:29:15] We live right next to the ocean.

[00:29:16] Just right now my wife and I were talking where you want to get the hydrofoils,

[00:29:19] which is like surfing like above the water.

[00:29:21] This is it's too easy on Jay.

[00:29:23] This is what's going on.

[00:29:24] That's too fucking cushy man.

[00:29:26] No, oh, trust me.

[00:29:27] I know that's why we're trying to make it harder for them.

[00:29:29] But like I don't want to give up my lifestyle.

[00:29:32] So we almost didn't do millionaire university for two years.

[00:29:36] We contemplated it and we almost weren't going to do it.

[00:29:38] It's like we don't need to make money more.

[00:29:40] We busted our butt for you know, all this time.

[00:29:43] Why?

[00:29:43] But then I wasn't feeling as fulfilled and I wanted to do more.

[00:29:46] All that stuff right.

[00:29:47] It's like let's just do it in our way.

[00:29:48] Like it's our game to play our rules.

[00:29:51] So we started with the podcast and just putting like a certain amount of time.

[00:29:55] Now we've grown in the audience.

[00:29:57] We have sponsors and we have what I call, you know, a flywheel or like a

[00:30:01] money making machine, if you will like that every time we do podcasts.

[00:30:06] Like for every dollar we spend on the podcast, we make a dollar 50 back.

[00:30:10] So we're up till like 800,000 listens per month and the more I spend to grow the more money we make.

[00:30:17] So that's kind of cool.

[00:30:20] But we just started our we're currently creating our first program.

[00:30:24] It's called Build My Money Machine.

[00:30:26] So that literally we're going to launch that in a week to where people can.

[00:30:29] And get access to that.

[00:30:31] It's going to be super cheap like we're not going to make.

[00:30:34] I mean, hopefully we'll eventually make money from it.

[00:30:36] But the idea is just to bring a bunch of people in.

[00:30:39] Have them understand kind of the the foundational pieces and then next year will start more than niche.

[00:30:44] The niche focuses and have a bunch of different programs people can do.

[00:30:48] So that's so millionaire university.com and then build my money machine.

[00:30:52] .com as well as the first course we're going to put together.

[00:30:55] So Jake before we go to the short answers, I'd love to collaborate with you because my family's.

[00:30:59] Creating something called Barbara 360.

[00:31:03] And it's very interesting because my two of my daughters are massage therapists.

[00:31:06] My son is 22 years old. He's actually an accredited investor.

[00:31:10] Yes, his net worth is over his net worth is over a million dollars.

[00:31:13] He's got nine.

[00:31:14] Sounds sexist to me, Jean, you know, you leave in the girls out too much.

[00:31:17] Well, you know what?

[00:31:17] I gotta be an asshole.

[00:31:18] I'm sorry, Carrie.

[00:31:19] So he has gotten her first draw today.

[00:31:21] She's eight years old. She's getting her first draw.

[00:31:23] So anyway, but what I'm saying, the point is he's actually with the day rams.

[00:31:27] He became a financial coach.

[00:31:28] I would love to be able to collaborate with you and have our family on your platform.

[00:31:33] I'm writing a book called Happy Money, Happy Family, Happy Legacy, my wife is this high performance coach.

[00:31:38] So we have all of the, I guess foundational work that we could love to bring onto a platform like that

[00:31:44] and amplify the message and just show really how money and family and legacy really can be all intertwined

[00:31:51] and how they should all be intertwined because growing a family is like growing a business.

[00:31:55] They both need to be tended to.

[00:31:57] They both need mission statements.

[00:31:58] They both need culture and core values and they need nurturing.

[00:32:02] Your children don't know what the hell to do.

[00:32:04] You have to teach her children and it's just like business.

[00:32:06] You're not born a business person.

[00:32:08] You've got to buy the $30,000 house in Yucca and make them a stake.

[00:32:11] So when this podcast is over, me, you're going to have a conversation Jake.

[00:32:14] Anyway, take it over, brother.

[00:32:16] All right.

[00:32:16] Well, listen, let's say a quick time out to hear from our sponsor.

[00:32:19] Now we have had a great run in multi-family going from zero units to over 250 million

[00:32:24] assets.

[00:32:25] That's over 2,000 apartment deals that we've been able to purchase through our framework

[00:32:29] by right manager and finance.

[00:32:31] Jake and I, we created the J.K.

[00:32:33] In Gito community back in 2015, we launched our first book World R.A.

[00:32:37] Our purpose.

[00:32:38] Since then, our students have closed over 16,000 units.

[00:32:41] That's over $4 billion and that's it.

[00:32:44] They've been able to close over the last six years.

[00:32:46] And that's why this community has been so successful.

[00:32:48] We call it an results-based education and we pour back into the community everything

[00:32:52] that we've learned on our journey from zero to 2000 units and all our systems and scale that

[00:32:57] we use on our very own property management and investing company.

[00:33:00] Jake, I love that.

[00:33:01] It's not just education.

[00:33:02] It's implementation.

[00:33:04] So what I want you to do, click on that link down below, apply to work with our team.

[00:33:08] See how we can help you on your journey in multi-family.

[00:33:13] All right.

[00:33:14] We are back.

[00:33:14] So you mentioned earlier the flipping business took a lot to scale a lot of systems for folks

[00:33:22] out there getting started in the real estate business.

[00:33:25] Give some real actionable tips on scale and putting systems in place because I think so many

[00:33:32] people get hung up where they're doing everything, where and all the hats.

[00:33:36] And then they never scale because they can't get out of that rut.

[00:33:38] So what were some things that you did in your experience that got you to that next level?

[00:33:44] Yeah, 100%.

[00:33:45] I would say there's lots of different ways to leverage and create scale, right?

[00:33:54] One of the big ones is it's basically people, money systems and processes.

[00:34:02] People systems and culture.

[00:34:04] That's what we always say.

[00:34:04] Technology, platform, stuff like that, right?

[00:34:07] So the concept if you want to make seven figures or make a bunch of money to live a great life,

[00:34:12] like essentially what you got to do is you got to learn from great guys like Jake and Geno.

[00:34:17] I mean, the information is out there.

[00:34:19] So to me, I just blows my mind.

[00:34:22] You literally can go listen to people in today's day and age that will tell you how to become rich.

[00:34:29] But how many people don't do it?

[00:34:31] But think about 20 years ago, though, you could get, it's so much easier, I think.

[00:34:35] You could get a book 20 years ago and it may or all make you go.

[00:34:38] But dude, it's like so much easier.

[00:34:40] So first of all, you got to believe it's possible.

[00:34:43] You got some mindset stuff, all that stuff, right?

[00:34:46] And then you got to take action because action leads to information.

[00:34:50] So we take action based on a hypothesis we have and you don't have to have this.

[00:34:53] The don't go try to start this big and say new,

[00:34:56] people come to me with this new idea that no one's ever done or ever heard of.

[00:35:00] And I'm like, yeah, good luck if that's your goal.

[00:35:03] But like, you've never even started a basic business.

[00:35:06] Like go detail cars.

[00:35:07] Like, I mean, so what are you passionate about?

[00:35:10] What are you like doing fear that out?

[00:35:12] What do you know something about what is someone else that is doing something like that.

[00:35:17] Go look at what people need.

[00:35:19] This is the problem with and there's a kid they were there clean the windows at the house.

[00:35:23] The other day when the kids just started asking questions and things he wants to do business and this.

[00:35:26] And the other thing.

[00:35:28] And he wants to start a brand.

[00:35:29] And I'm like, what, what, what are you doing that people need?

[00:35:33] All right because especially when the economy goes down,

[00:35:35] as you know what I'm talking about this earlier today,

[00:35:37] you have to be providing a service that other people need or at least really want.

[00:35:43] And then you got to be good at it.

[00:35:44] So stop thinking about yourself.

[00:35:46] There's so many selfish bricks out there.

[00:35:48] They get in the business because they think they got it.

[00:35:50] You have to fulfill a need for the marketplace.

[00:35:52] That is the first step that so many people miss on.

[00:35:54] But when you start taking action, that leads to information and then you understand what is this taking.

[00:36:00] So the goal is you take action on something and let's say that you get to the point where you're making a hundred bucks an hour.

[00:36:06] You now can scale that because you can hire the labor out for twenty thirty dollars an hour.

[00:36:12] And then you just got to get good at the marketing and things like that.

[00:36:15] So for me, I always tell people whatever is that you're doing like if you have a business right now,

[00:36:19] make a list of all the things you're doing, how long does it take what like all that stuff.

[00:36:23] And you want to pick the items that take most of your time because there's really only a few things that take probably fifty sixty percent of your time.

[00:36:31] The things that take most of your time and are the easiest to do.

[00:36:35] And you outsource that first and then you buy back your time.

[00:36:38] And then you can continue from that point, right?

[00:36:41] So that's like a big part of scaling another one is.

[00:36:44] It's going to be too cheap to do it.

[00:36:46] Right? Because a lot of people like you know, type fisted and they won't spend the money and that's was preventing the growth.

[00:36:51] Yeah, for there's a lot of psychology that says that we have a lot harder time letting go of what we currently have.

[00:36:58] Then going after what we don't have. So the way I look at in my mind is all the wealth and the world, all the good things in the world.

[00:37:06] It's all it's all mine. It's all yours. It's all your jakes and genos. It's all of ours.

[00:37:12] But what kind of what systems or processes have I set up in my business or my life to have some of that flow.

[00:37:18] My way. So we can have fun with my family, but so I can also continue to grow my businesses and give back to more people.

[00:37:26] I always say at the end of the day, my goal is to help people make money and have fun.

[00:37:32] If I'm doing those three things and have fun includes like getting along with my spouse, but it also includes going to Disneyland and going on trips when I want it.

[00:37:39] Right? But if you're not making money, you can't do some of those things. If you're not making money, it's harder to help people and more money.

[00:37:45] Make them work people. It can help it all bleeds together. So I love that.

[00:37:49] Well, this this this segue is well then so a book or a podcast recommendation anything that's added value to your life in the last years so that you want to share with folks.

[00:38:01] Oh man, so many. I was listening to your guys' podcasts today. I thought it was great. I wasn't the section two. The section not section two.

[00:38:09] Section eight. One of the most recent ones that you guys published.

[00:38:13] I was just trying to get a fill. You guys are growing me a lot more than you were growing him genome man. How is it? What's the ready for this?

[00:38:21] What was it a genome only podcast was that one of the genel only podcasts.

[00:38:24] They did you grew as an affectionate.

[00:38:26] See he got there and then he didn't realize the dogs are going to be unleashed today.

[00:38:31] That's what happened. See, hold on a second, Justin. Before you before you progress Jake, I was interviewing this gentleman and he was in his basement with his Lamborghini and his Rolls Royce behind him.

[00:38:42] So how can you grill a guy like that? I mean, is this sort of this podcast for it's like,

[00:38:46] Oh dude, I would have definitely started bustin' his balls about having a Lamborghini in the podcast.

[00:38:52] There's no way that I wouldn't have been given a shit about that.

[00:38:55] I was listening to it and I was out to Jim and then running this morning so I heard you talk about that but I didn't see it.

[00:39:01] Painful.

[00:39:02] I would have been like dude, what the fuck are you doing with a lamboe behind you right now?

[00:39:06] You're gonna nice like, picture on the wall or something, you got to bring the lamboe in? Come on dude.

[00:39:10] But I mean, I don't know. I'm a big believer in listening to stuff but I would say everyone who's currently listening you probably, there's a lot of people who don't listen to podcasts.

[00:39:20] I'm like, you morons go listen to some podcasts, like learn some stuff, but people who are already listening, I'm a big pro from pro-native Justin time learning and that's not because it has my name in it.

[00:39:29] It's basically like go do something and then you'll realize what you don't know and then go learn that.

[00:39:37] So I really kind of don't want to give a bunch of books like listen to, there's a ton of great books but if you're listening right now your biggest problem is, and you're not succeeding, it's probably not that you don't get educated, right?

[00:39:51] If you're not listening, then that's your problem, but you're not listening so it doesn't matter.

[00:39:54] It's probably you're not taking enough action, right? So go take action. There's plenty of action you can take that eliminates that mitigates or eliminates your risk.

[00:40:03] Just like what I psychologically, I just had to realize, oh, I have a plan B, right? And my whole, like what is your plan B? Like what are you doing to minimize or mitigate your risk?

[00:40:12] You don't lose money that you don't spend, right? Like there's so many different things you can do so many businesses you can start that don't cost any money.

[00:40:20] Go generate some money and then you'll have a little more that you can continue to grow that next day. So.

[00:40:26] Cool, all right, last question before Geno takes his home. One thing fun, exciting, that you're doing right now in your life that you want to share with folks.

[00:40:35] I mean, I mentioned the E-foiling we went Saturday and then we're going to go again Friday.

[00:40:40] My wife is like, I want to go now. Like, let's go whatever you want. But that's just really fun.

[00:40:45] I mentioned that we traveled for nine months. We went traveled all over the world.

[00:40:49] Older kids out of school, they did online school. That was super fun.

[00:40:54] But yeah, I don't know. I'm just.

[00:40:56] And the car was covered by insurance or no?

[00:41:00] I think so. I'm not a big like all get like the basic insurance but I'm like, hey, the insurance is making money, right? So I don't want to spend.

[00:41:07] So I'm like, I hope the car was covered, but if it's not, you know, yeah.

[00:41:10] It's pretty hilarious because it was paid for. They just we paid, we paid for part of it. They paid for part of it and then they paid us off. So they literally paid me the last payment.

[00:41:19] The day before. What was the rate?

[00:41:24] Um, oh, like, does we charge in like 5%.

[00:41:27] We weren't because they were going to pay it off within weeks. Normally I would know, trust me. Normally I would.

[00:41:33] But they were paying it off within weeks. But luckily it was only like a like a $3,000 car. It was pretty ghetto fabulous.

[00:41:39] So you know, I'm talking a lot of shit because my kids are younger and the oldest one is nine.

[00:41:44] But I'm calmness the tale of two softies today, all right?

[00:41:48] Gino's taking care of the kids paying for the college. We got just in letting them live in the basement.

[00:41:52] You guys got to toughen up and start cutting some shit off. That's all I'm saying, man.

[00:41:57] It's very interesting. I'll give you a great story of why I love what we're doing with our family.

[00:42:02] My son is driving a nice car. He has zero student debt.

[00:42:06] We helped the pay for college. But what I love about it is he has the right mindset.

[00:42:11] He put $10,000 towards the car. I paid the remainder of the car.

[00:42:14] I don't want to have any kind of car debt and any kind of personal debt.

[00:42:17] He's investing his last two deals. Now this new deal, Jake, that we have. He has no money.

[00:42:22] So what he said to me was, I will sell the car.

[00:42:25] Can you give me the money from the sale of the car?

[00:42:27] I will go out and get a personal line of credit to invest.

[00:42:30] So to me, he understands the value of money. He understands the sacrifice.

[00:42:34] I see understands that. He's the only person in the car that you paid for, you know?

[00:42:37] He did not.

[00:42:38] I would just stay like him.

[00:42:40] But Johnson, the fact is, the fact is, the fact is, he's not on all the left.

[00:42:46] Let me follow this through.

[00:42:48] You said it worked or had a bus done with your Jacob.

[00:42:52] Yeah, no.

[00:42:53] I'm just and I love it.

[00:42:54] I have to make this. This is very important. This is a very important lesson.

[00:42:59] Most kids would not have that realization to say, let me take pain in the short term.

[00:43:03] I'm not having a car put money into an asset.

[00:43:05] Let me not get that money for the next 12 to 18 months until it refinances.

[00:43:08] He already understands that concept.

[00:43:11] That's what I'm trying to teach them.

[00:43:12] I'm trying to teach them really great habits and I'm trying to teach them not that

[00:43:16] instant gratification.

[00:43:17] If you can teach that to your kids, those habits of needs versus wants.

[00:43:22] He wants the car but does he really need it?

[00:43:25] No.

[00:43:25] If you can teach them that, I think you're laying the foundation.

[00:43:28] So when they do go out into the real world, they have those really great habits.

[00:43:32] And I'm going to tell you something right now.

[00:43:33] Jacob is going to be the biggest pussy on the planet.

[00:43:37] I'm just saying that right now.

[00:43:41] He's going to be the biggest win.

[00:43:43] Oh, you are really up.

[00:43:45] I'm just here to keep you.

[00:43:46] I'm just I can't wait.

[00:43:48] Now I'm going to be there ripping on him every day and you know what?

[00:43:51] It's going to be great because that's why we're making money.

[00:43:53] We're making it to enjoy it with our family.

[00:43:55] We want happy money in our lives.

[00:43:57] That's why we're doing this.

[00:43:59] And we want our children to have a great mentality and a great mindset toward money.

[00:44:03] We want abundance.

[00:44:04] We don't want scarcity.

[00:44:05] That's the point I'm trying to drive home with my children, not to be afraid of money,

[00:44:09] but to use it as a tool.

[00:44:10] And that's all it is, Jacob.

[00:44:11] I give you a hard time, you know, but there are plenty of things that my son has sold that we paid for.

[00:44:16] And he's like, hey, I'm making money.

[00:44:18] I'm like, okay, okay.

[00:44:19] Kind of.

[00:44:22] We're making money.

[00:44:24] It's got to be value creation.

[00:44:25] You know, it's a challenge accepted.

[00:44:29] I will see where it goes, but Gina, you got to take us home now.

[00:44:31] Jacob, I am going to give a nice little recap of Justin's life because it's very interesting.

[00:44:35] It parallels that of Jake Stenziano, a young stud going into college.

[00:44:41] Not really liking score and then all the sudden he gets hurt and he's learning about rocks

[00:44:45] and he sees his vision of being stuck in a school with these kids

[00:44:51] wearing Marilyn Manson shirt.

[00:44:53] And they don't want to play dodgeball.

[00:44:55] The fuck is wrong with you, kid?

[00:44:56] I don't want to hear.

[00:44:58] I don't, I can't do this.

[00:44:59] I can't live on 20 bucks an hour.

[00:45:01] I need to find another gig.

[00:45:03] So I tell my parents, don't graduate college once semester left.

[00:45:06] I'm going to go on being entrepreneur.

[00:45:09] And I don't know if for lack of a better strategy,

[00:45:11] I'm going to start fixing and flipping.

[00:45:12] And that's going to be really challenging buying in the Yucca Valley,

[00:45:15] but I make it happen.

[00:45:16] I make it work.

[00:45:18] I start off the flip at 100 homes doing really well.

[00:45:21] I'm going to start with the education of flipping business and I'm getting bored right now.

[00:45:25] And I see to myself, money is amazing, but it's not all about money.

[00:45:29] I want to really create an impact on a creative legacy.

[00:45:31] I want to really make a difference in life.

[00:45:34] I still want to go out and I really want to enjoy my money.

[00:45:36] But I want to do something that's going to perpetuate my legacy.

[00:45:40] And my legacy is wrapped around a millionaire university.

[00:45:43] Where I want to start, I'm not where I want to be,

[00:45:46] but the vision is to start a campus where people can come and learn

[00:45:50] and learn how to create a website,

[00:45:52] whether it's learning how to do digital marketing,

[00:45:54] whether it's learning how to become an entrepreneur,

[00:45:56] whatever that looks like.

[00:45:57] That's what my legacy is.

[00:45:58] That's what my mission is.

[00:45:59] And I'm hoping to continue that legacy.

[00:46:02] Thanks, Justin.

[00:46:03] Thank you guys.

[00:46:04] It's fun.

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