260: The Gift That Keeps on Giving

SHOW NOTES FOR EPISODE 260: THE GIFT THAT KEEPS ON GIVING

Learning real estate investing is not just about becoming a profitable investor, it’s about creating a self-sustaining vehicle that can provide steady income for generations to come.  In today’s podcast, Bill Manassero shares a bit about his free-wheeling past and how a guitar was once his ticket to freedom and independence.  He shares how real estate investing has replaced his guitar as a much better means to long-term growth — without having to lug around an instrument everywhere you go.

Intro

• So, why the heck am I singing this morning
• Well, believe it or not, I’m trying to make a point
• To help make this point… I’m going to tell you a story
• A long time ago… in a galaxy far, far away
• There was this young idealist, 20 something kid who was just trying to figure out his life
• Young, naïve and foolish, and way to heavily influenced by authors like Khalil Gibran and Jack Kerouac, he figured his answer would be found “On the Road”
• I took off with a buddy of mine with backpacks on and our guitars in hand that sought out to see the world
• We stuck our thumbs out and hitchhiked from California to Florida with the hopes of getting on a freighter out of Miami, working in exchange for adventure and transportation to points unknow… “anywhere but here”… and so the story goes
• That was then and this is now…
• And yes, there were many lessons learned along the way
• But even though I was foolish, irresponsible and, at times, very dangerous, reflecting back, there was something wonderful about the freedom and “I can do anything I set my mind to” attitudes we had back then
• Fast forward 40 years and, looking back, there was also something very profound
• Although we had no real plan, we were actually pretty well prepared
• The basics we needed were on our backs and our source of income was, well, in the guitar cases
• You see, wherever we went, whether in public park or the subways (le Metro of Paris), all we had to do was open our guitar cases, grab our guitars, sing a few songs and Voila! Money for our next meal!
• It was simple, yet profound
• Years ago, at age 13, I taught myself to play guitar. That education helped me:
  • To get in rock bands in my teens (meet girls, haha)that brought in extra income as teenager
  • Helped me pay my way through college, playing clubs at night
  • Cover living expenses traveling around the work with fellow Hippie bums
  • When I was in the corporate world and got layed off and could play music to feed my family until I found another wonderful corporate job
  • It helped launch a children’s music ministry in the ‘90s that supported my family, produced three albums and took us all around the world for years…
  • And it was a concert tour that brought us to Haiti where we served for nearly 12 years
  • And in Haiti, when we met orphans on the street, even though we couldn’t speak their language, it was music that helped us to communicated with the orphans and street kids we encountered
• Are you getting what I’m saying?
  • There are those listening, I’m sure, that have similar skills (be it electrical, plumbing, carpentry, sewing, etc.) that you can take anywhere in the world and you know you can survive.
• That’s kind of what we are now doing with real estate investing
  • We are getting education to learn a skill that can help us survive and thrive
  • The more you master that skill, the better you will do
  • Except, the great thing about real estate investing, is that you do not have to carry it around with you when you’re on the road… it will keep producing for you without you having to do much of anything. That’s what passive income is all about
• You know, if you are a regular listener, you know when I ask guests on the podcast a series of question in our “Rap it Up” segment, my last question is always “the kicker.” It’s what I call my apocalyptic question:  “if something devastating happened and you lost absolutely everything and all you had was $1,000 in cash, what would you do with that money re rebuild everything you lost?”
  • And, I know, on the surface, it sounds more heavy and ominous than it really is… because most of the really successful guys basically say, “I don’t even need the $1,000,” because they already have the skillset to re-build because they’ve done it before
  • It’s like asking someone, what would you do if you were riding your bike and suddenly you fell off?… well, duh, I would just get back on and start peddling. And once the guests realize the situation, it’s not that big a deal.
    • They’ve learned the skill
    • And they’ll just do what they did in the beginning
  • And that’s all I’m trying to do here with this podcast…
    • To help you learn some skills that you plug in no matter where you live or where you move and you’ll still be able to do the same thing… generate cash flow and build equity
    • It’s that simple
    • Even though many of you are looking at it as big and ominous as anything. It’s not.  Once you get the basics down and you’ve bought a few properties, you’ll be able to do it with less and less effort
    • That’s why I entitled this podcast, as we approach the holiday season… “The Gift That Keeps on Giving”
    • Because once you receive this gift and apply it intelligently, it will keep giving, not only to you but, potentially, to your family, loved ones and anyone else you want to share your skills with, for generations to come
  • This podcast may be one of many you will hear, along with many books, articles, webinars, boot camps, YouTube videos and other resources that will give you the education to move forward to financial independence.
  • Hey, I realize, Real estate investing may not be the “be all end all” for all of you listening. And that’s fine.  But for those of you who it may work for – grab it by it’s horns and learn to get on and ride it!  Awesome!  Don’t be discouraged!  All the stuff you’re learning can be of value somewhere down the line!

Well, that’s it for today!

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