Do you ever feel stuck in the rat race? Life doesn't have to be that way. If you're willing to put in the work, in “bigger vision”, Chris Garrison helps you discover the keys to abundance, freedom, and personal growth, that let you live the life of your dreams. And now here's your host, Chris Garrison.
(00:32): Welcome everybody. It's Chris Garrison. Welcome. Welcome to the bigger vision podcast. I hope you've had an spectacular day today. I know mine's been fan fantastic. I got to interview my mentor, Mark Evans DM today. He was dropping gold on our bigger vision Facebook group and my LinkedIn profile and my YouTube profile. If you're not following me on those areas, then please check me out. We've got a free Facebook group where we drop all type of content, talking about mindset, business investing. We do weekly live interviews with highly successful individuals that got us a wonderful story. They bring all of their experience and knowledge and they leave it on the table for you guys to grab up and put into action. And today I wanted to talk to you all about how your money should be making you money, because we've been taught by our parents, by our grandparents, that you go to school and you work hard and you get your education.
(01:35): Then you go to college, you work hard and you graduate with a degree. And then you get out into the workplace and the marketplace and you work hard. You save up your money, you put it in a 401k build up your social security. And then when you're at retirement age, you go and do the things that you've always wanted to do at the point to where your body is starting to break down. And you're not in your prime, right? That's a broken way of thinking. Now, back in the day, that was probably okay. I don't know. I didn't live back then, but I live in the two thousands. Okay. It's it's 2022. And I understand that that is not the way for me to be happy and have the lifestyle that I need. And I came to that realization when I began to get in the rooms with individuals that were multi-millionaires because I understood that there was a gap between the way the general population thinks about money and the way the ultra wealthy think about money and see money.
(02:33): See the ultra wealthy. They realize how they recognize how money moves through the marketplace. They recognize and understand key terms like leverage in arbitrage. The general population focuses on trading time for money. See the harder we work, the more money we make right wrong. What about coal miners? What about construction workers? Those guys work stinking hard. I mean, I've been in construction. I was the one with the shovel. I was the one digging the ditch. When I first started that's some hard ass work. And the thing about it is, is those guys get paid the least most of the time, but on the, on the flips side of that, the ultra wealthy, they don't chase after money. They chase after solving problems. They chase after bringing value to the marketplace because they understand that when you solve a problem there's value created and that individuals will pay money.
(03:36): Good money for value that's been created because a problem has been solved because most people will not critically think how they can bring a solution. Most individuals will bring excuses and problems, but leaders, those that are pushing for a better self, those that are resourceful, those that are getting a around high achievers and understanding that excuses don't get you anywhere. But action is what takes you to your dreams. They have problem solving skills. They have critical thinking skills and they begin to say, okay, I hear this problem. I see this problem. So what are we gonna do about it instead of, well, I, I guess it wasn't meant to be because the general population, that's what they would say. I just can't do it. I don't, I don't know. We just can't do it. It just wasn't meant to be. But the problem solvers, the ultra wealthy, the critical thinkers, the resourceful individuals, they say, how can I solve this?
(04:37): What resource can I go look up so that I can bring a solution to this problem? And they began to create money as a byproduct because of the problems that they solve by and the value that they create through solving those problems. They also understand how the money moves through the marketplace with arbitrage and with, and with leverage. So let's talk about those words for a second. Let's talk about leverage first. So leverage is where you are taking something at a set value, deploying it somewhere else, and you're increasing the value and you are capturing the difference between the original and where an increased and it's not yours you're utilizing and using someone else's something. So let me give you a real world example, I go to the bank and I'll borrow some money to go purchase a house. So let's say that I go to the bank and I purchase I, I borrow $70,000 and I go out into the market, get place, and I find this old maintenance deferred, just dilapidated, ugly looking house.
(05:49): Nobody wants to buy it. And I buy it at a discount because nobody wants to buy it, cuz it's so ugly and, and has so many problems. I, it, for thousand and then I take $20,000 and I remodel it and I've got $70,000 all in to this house, the total amount that I borrowed from the bank, but I'm able to take it to the marketplace and put it with a realtor and list it for sale for a hundred thousand dollars. And I sell it for a hundred thousand dollars. And now I have profited $30,000 from my all in money that I have on this real estate. So I bought it for 50. I spent 20 in remodeling. It put me at 70,000 and now sold it for a hundred. And the difference there between the 70 and the hundred is 30,000. Now I've got $30,000.
(06:38): None of the money came outta my bank account. I borrowed it. I leveraged it from the bank and then I deployed it and I utilized it to make me new money. Now the bank's gonna charge me some money on that, but the, it, it is gonna be probably somewhere around five percent. So five 70 on a annualized basis. I don't know, somewhere around three, thir a little over $3,000 probably for, for a whole year's use of this money and keep in mind, it's not gonna take me a year to flip this house, which is what I just described to you was flipping real estate. It's gonna take me probably about 90 days. So in 90 days, I am able to borrow money for a little over $3,000 and then I can profit $30,000. So deduct a 3000 from the 30,000, that's going to leave me with $27,000 in profit that I just made using none of my own money.
(07:37): Now isn't leverage a, this is what the ultra ultra wealthy do. I don't care if they've got millions sitting in the bank, they still go and borrow money from the bank. Why wouldn't you? You're creating money from new money and you capture the profits and then you give the, that money back to the bank and then you borrow it again. And you, again, they understand these factors, but so many of the populations, so many of us individuals, we sit there and think, well, I've gotta be a multimillion there to be able to get into real estate. I don't have $70,000 sitting in my savings account. If I do have $70,000, then that would be all my money. And I don't have, I, I, that that's scary. What if something happens? You're exactly right. That would be scary. That's why you go to the bank. That's why you get a credit card.
(08:26): That's got 0% interest. That's why you make sure your credit's great. That's why you make sure that you do what you say you're gonna do. So you've got a good name in the marketplace. People watch you, you, you, you tell people what you're doing. When you tell people you're gonna do something, you do it. And then you don't, you may not even have to go to the bank. You might be able to go to a friend, a family member, a church member might be able to go to a colleague. Your boss tell 'em, Hey man, I've been studying this real estate and I've got some friends in it and I've been watching what they're doing. And I've got this opportunity right here. Wanted to know if you would be interested in partnering up with me on it. I can give you $3,000 for a 90 day loan of $70,000.
(09:05): Would you be interested? You can take a first lie on the property and it, and that way, you know, if I didn't do what I say, I'm gonna do. You've got thing to collect that is going to be able to be sold so that you can get your money back. See, did you ever think about that? We have such limited beliefs that all we think is I just gotta go sweat more. I've gotta go spend more time away from home. I've got to go and do more of what I don't enjoy doing, working at this business that I'm just here, because this is the best job that I could get because it paid me the best. And you trade your time for money. When in reality, that's the exact opposite thing you should be doing. So let's say, well, you're like, well, Chris, I mean, I, I don't know how to own a business.
(09:51): I'm not a business owner. I'm not telling you. You've gotta own a business to be able to do this. I'm telling you, you need to understand that solving problems brings value and people will pay for value. I'm gonna give you an example of U w two, all right, I've got a receptionist. We call her a coordinator and she makes a certain amount of money. And if she did her job correctly, 100% than over a period of time, over many years, we would gradually give more rays as a thank you for being loyal to the company and doing the job we hired you for. But instead she watches what is going around. She's trying to understand the vernaculars, the lingo, the processes, and procedure that are in the company so that she can be a better customer service advocate. She offers to put herself on after hour calls.
(10:45): She offers, do anything and everything above and beyond. I mean, my 16 month old comes in and my wife's got some paperwork to finish up because she's handling she's, she's over the finances of the come. And if she's not, if my coordinator's not taking a call and scheduling something, she's sitting there playing babysitter, whatever she can do to add value, she's adding value. So what did I do? I said, Hey, we need to reward this woman. This right here is an excellent team member. This is a gold standard. This is a leader in our company. Don't wanna lose her. So we gave her a several dollar raise. And now she'll, she's gonna want to take on more duties. She's gonna want to add more value. I already see the capabilities of where she can move into a different position as we scale and grow in the company.
(11:33): And she will be able to increase her income to the point, hopefully that she will have surplus income past her lifestyle, her level of living. So she can take some of that surplus and start deploying it in investments like maybe cryptocurrency, maybe partner up with someone on real estate, maybe purchase a e-commerce store or put some in a four X trading account that works off of a buy that trades based off of algorithms. When you've got money, you can start to deploy in another areas and you stop trading time for money, but you start by adding value through solving problems. That is where every business, that's why every business has got a place in the market because they are solving a problem. And by solving that problem, they're adding value to someone's life. And that individual is willing to pay for that value to be added.
(12:34): We are constantly trying to find more value in our life. That's why we go on vacations. That's why we enjoy going on vacations and experiencing something because it adds value to our life. So let's move back over. We've talked about leverage. Let's talk about arbitrage. I can use the exact same example. I am arbitraging the interest rate that the bank is charging me because they're charging me a 5% interest rate. And if I can go over here and make a higher percentage, let's say I make a 10% return on my money. Then at that point I have arbitraged that 5% from the percent I take 5% home to me, that's arbitrage. So in real estate, if you go into an apartment complex and you ask to rent the apartment complex and sublease it, then you can get a sublease contract with someone else, let them come in and lease it at a higher rate than what you got for from the apartment complex management.
(13:37): So if you go in and rent this apartment for a thousand dollars, and then you sublease it to someone else for $1,200, that's a $200 arbitrage. They do this on Airbnb short term rentals. They do it much higher than that. They may be renting it for a thousand and they're bringing in three to 3,500 a month before a gross amount. And they're arbitraging that difference. They have no money invested into the property. They're leveraging their, the apartment complexes ownership of the, of the unit and their arbitraging, the rental rate. So the are wealthy. Understand these terms. They understand how money moves through the marketplace and money moves through the marketplace because problems are solved. So how do you find out what these problems are? You look and see what people are complaining about. So what are they, what are they complaining about? Are they complaining about the fact that they're tired when they get home and they have to clean up after the kids?
(14:36): Are they complaining about the fact that the, the roads, the, you know, the roads, aren't good, where they're at. They have to mow the yard on the Saturday, and they wish that they could go into the park with their kids. Instead of having to mow the yard. They're complaining about having to make dinner every night. All of these complaints, someone are, is solving these problems and creating value in, and now individuals are paying for these. That's why you've got landscapers coming to mow the yards. That's why you've got made services coming in to clean the houses during the week. That's why you've got restaurants so that you can go and sit down and have a dinner or have takeout and bring it back to the house. That's in paper goods that you can eat and then throw it away in the trash. So there's no dishes to wash, solve a problem in the marketplace, add the value and get paid for it.
(15:26): Stop thinking. The more I work, the more money I will make, because that right, the opposite. Now, does it take hard work in the beginning? You're definitely gonna have to trade time for money in the beginning. You're definitely gonna have to work harder, but that work, that hard work begins to change. As you began to grow your financial state, as you began to increase your financial literacy, as you began to increase your network and build your credit and build your character in your marketplace. Because at that point, it's no longer about how much muscle my dad used to say, elbow grease, how much elbow grease you. You put into it at, at that point, it's about how much, you know, you work up here in your mind. That's where the hard work is at. You put out fires and you solve big problems. You become a solve problem solver.
(16:17): That is how you make the big bucks, become a problem solver, take out the buts and the ifs and replace them with hows. Okay? Stop saying, but if I, that is the wrong way to go about it, the correct way a problem solver says, how do we do this? I don't know yet. If someone says, how do you do this? I don't know yet. That's an assumption that you're going find a way. And all you've gotta do is hop on YouTube. My gosh, you can find anything on the internet. Google that joker, YouTube, Google. You'll find an, if you read enough, you will find the answers. You'll find the path to the person and the resource that has the answers. There's no excuse anymore. In this day and age, listen, I want you to live in success. I hope you took some value from this.
(17:08): I hope you stopped chasing after money and think that you trade your time for money. And I hope you start to put yourself in the rooms in the environments that starts to teach you financial literacy so that you understand how money moves through the marketplace. And you began to allow your money to work for you because that's what it was intended to do. Stop being a slave to money and let money be a slave to you. So check me out, get on your whatever platform that you're listening to give me a five star review. If you enjoyed this, write me a, a review, a written review is what is going to allow me to get into the algorithm so that I get deployed and rated higher, and then get more exposure to other individuals that are trying to better themselves. That's trying to increase their mindset, their business, and their investing. I wanna see people grow around me. I want individuals to succeed because if more individuals understand how, how money works, then we will have a completely different world and there will be less entitlement and there will be less poverty. And there will be more gift givers in the marketplace because they have the capacity and the abundance and the ability to do so. You have a great day. Let's live in success and let's grow together.
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