The Wake Up Call
273 episodes - English - Latest episode: 25 days ago - ★★★★★ - 46 ratingsMy Wake-Up Call came in 2015, when I realized that I had had enough of my corporate job and was ready to take back control of my life. The world and economy are constantly changing, and the best thing you can learn is how to spend your time and energy working *on* your business instead of in it. I’m Paul Thompson, and in my podcast we’ll be discussing exactly that—how to build and grow your investment portfolio from the ground up. With each episode, you’ll hear inspiring stories from those who have already experienced their wake-up call, and are doing something about it. Real Estate professionals, industry leaders, and more, will join me to discuss how owning and renting property has changed their lives and the lives of their families for the better. It can do the same for you. Join us and revolutionize your portfolio, investments… and your life.
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Episodes
21. Buy and Refi
June 27, 2018 20:48 - 37 minutes - 41.4 MB8 Step Process to Building a Rental Portfolio Identify a source of capital (yours or someone else's) Find deals Buy at a discount Rehab Rent Refinance Repeat at scale Retire https://www.pauldavidthompson.com/mastermind/
20. Network to Serve
June 20, 2018 03:26 - 22 minutes - 28.4 MBThe power of networking is immeasurable. The greatest benefit from my time as an investor has been the people I've met and the relationships I've made. Learn how a shy, wallflower like me with a speech impediment can land a guest spot on the biggest real estate podcast in the world. The secret is networking with an attitude of service. Level Up Your Life Mastermind CampFI South https://flytofi.com/
19. Negotiation: Get What YOU Want by Asking the Right Way
June 14, 2018 02:28 - 35 minutes - 41.7 MBNegotiating is communicating with a specific outcome in mind. This episode breaks down some simple techniques to get the other party to negotiate with themselves. I also break down a specific offer formula on how to set a "low anchor". These are the phases I'm working my way through as I talk to a seller. getting permission fact gathering rapport building confronting anchoring presenting getting consent
18. The Art of Careful Craft
June 06, 2018 03:37 - 25 minutes - 32.8 MBHow the art of carefully crafted paperwork can help build rapport and an extra ally on your deal. It starts with the Purchase and Sale Agreement You can use your local State Form or use your own form. Craft by design and not by default.
17. What Will Your Freedom Cost
May 30, 2018 15:08 - 16 minutes - 20.6 MBI am making the assumption you want financial freedom. What is the amount of income you need per month so that you don't have to work? Is it $3k, $10K, $15K/mo. Now, what will it take to generate that much passive income? I call it your freedom number. That's the amount you need so that you no longer need a day job to earn income. I suggest taking the planning exercise one step further and think about why you want freedom. What do you plan to do with all that extra time? Always s...
16. Taylor Made Case Study
May 16, 2018 04:30 - 38 minutes - 56.2 MBListen in on an investing strategy session with my friend, agent, and investor Jamie Taylor Jamie opens up about her limiting beliefs about money and accepts the challenge to take her investing to the next level. Jamie is a rock star agent and jumps in the hot seat as she opens up about her limiting belief about money. She was raised in an environment of scarcity and was programmed with a fixed money mindset. Knowing this amazing woman you would never suspect this was a hang-up o...
15. You Always Have Plenty
May 10, 2018 01:57 - 14 minutes - 20.1 MBYou Always Have Plenty of money, time, energy, resources for all of the things you truly want or you'll die trying Do you believe this sentence? "I always have plenty of money for all of the things I truly want" Few things are impossible or out of your reach if you want them badly enough. The challenge most of us face is we don't know what we truly want. Or we aren't willing to do whatever it takes to make it happen.
14. The Real Estate Cycle - Where Are We?
April 25, 2018 19:04 - 19 minutes - 24.4 MBThe 4 Phases of the Real Estate Cycle Recovery Expansion Hyper Supply Recession The market cycles through these phases and it can be difficult to know what phase you are currently in. I suggest always invest based on the fundamentals of cash flow. If you flip houses then buy with plenty of equity. Know what is happening locally in your market. The national reports can be used as a general trend but each local area is a market all its own. So you need to be tracking the loc...
14. The Real Estate Cycle - Where are we?
April 25, 2018 19:04 - 19 minutes - 24.4 MBThe 4 Phases of the Real Estate Cycle Recovery Expansion Hyper Supply Recession The market cycles through these phases and it can be difficult to know what phase you are currently in. I suggest always invest based on the fundamentals of cash flow. If you flip houses then buy with plenty of equity. Know what is happening locally in your market. The national reports can be used as a general trend but each local area is a market all its own. So you need to be tracking the loc...
13. 411 on OPM
April 23, 2018 13:30 - 22 minutes - 28.3 MBWhy real estate makes such good collateral and the various types of money you can use that isn't your own cash Bank Financing Soft Money Hard Money Private Money Personal Financing Creative Financing Owner Financing Announcing my Level Up Your Life Mastermind. Go to levelupmastermind.info and learn more and apply
12. Seasons of Life
April 06, 2018 02:42 - 24 minutes - 31.7 MBSeasons of Life in Investing www.pauldavidthompson.com Income building Capital appreciation Wealth preservation Wealth transfer Personal Financial Statement Sample
11. Real Life Path to Freedom
March 20, 2018 04:00 - 40 minutes - 52.7 MBI interview one of my best friends in the world I met through real estate investing. Rachel quit her job when she was 23 and became a full-time investor before she ever had any properties. That's what I call Burn the ships! Listen to find out why it was such a good plan. "My worst case scenario is everyone else's everyday scenario" Joel FI180.com
10. Finding Off Market Deals
March 13, 2018 13:18 - 34 minutes - 42.4 MBwww.pauldavidthompson.com Avoid the competition by finding off-market deals with little to no money My recommended plan to find real estate deals when you're first getting started is two-fold Determine your monthly marketing budget Choose a marketing method - Your budget will help determine what marketing method you can afford Low-Cost Marketing Methods Networking Driving For Dollars Door Knocking Work with Wholesalers Making Cold Calls Basic Script/Framework...
9. Running the Numbers - 1% and 50% Rule
March 06, 2018 19:35 - 25 minutes - 38.5 MBDownload Episode Running the Numbers for buy and hold rentals 1% Rule - The gross monthly rent is 1% of acquisition and repair costs 2% Rule - The gross monthly rent is 2% of acquisition and repair costs 50% Rule - 50% of gross monthly rent should be allocated to operating expenses www.pauldavidthompson.com
8. Running the Numbers - MAO
February 27, 2018 20:40 - 34 minutes - 43.7 MBDownload Episode Running the numbers MAO formula MAO = (ARV * .7) - repair costs - assignment fee Formula used by house flippers and wholesalers www.pauldavidthompson.com
7. Build Wealth with Your Home
February 22, 2018 03:32 - 23 minutes - 30.2 MBBuild Wealth by Housing Hacking Have roommates Airbnb an extra bedroom Airbnb your house while you travel Live in one unit of a small multifamily - duplex/triplex/quadplex Rent out of other features of your house - storage facility, pool house, RV pad, parking spaces Roll your equity from primary residence every 2 years Do Live-in Flips every year or so Do a Live-in Flip then Rent www.pauldavidthompson.com
6. Your Home is NOT an investment! Unless...
February 17, 2018 14:11 - 20 minutes - 27 MBWe've all heard it before... "Your home is your biggest investment!" Er... nope, sorry it's actually your biggest expense. But don't feel bad because of it. Just recognize the fact so you aren't convinced to buy a bigger house because it's an investment. And maybe, consider some alternatives to turn your house into a profit center or at least reduce your expenses. Total Cost of Home Ownership
6. Your Home Is Not an Investment! Unless...
February 17, 2018 14:11 - 20 minutes - 27 MBWe've all heard it before... "Your home is your biggest investment!" Er... nope, sorry it's actually your biggest expense. But don't feel bad because of it. Just recognize the fact so you aren't convinced to buy a bigger house because it's an investment. And maybe, consider some alternatives to turn your house into a profit center or at least reduce your expenses. Total Cost of Home Ownership
5. Road Map to Freedom by 30
February 13, 2018 21:08 - 12 minutes - 16.8 MBSo now let me give you specific use case of someone I know and they are using real estate investments to invest in their future and create financial independence A young couple fresh out of college with $35K of debt, a big car payment, and 2 jobs they don't like and looking to become financially independent and retire early by age 30. (What could they do) Well, they're young and have time and energy on their side. They don't have any assets to speak of, make decent money but have limited...
4. Flipper, Buy and Hold, or Wholesaler. Which should I choose?
February 09, 2018 22:10 - 18 minutes - 24 MBDownload Episode Exploring which real estate investing strategy is best suited for you? This is a really important topic because the term "real estate investing" is a vast topic that has dozens, if not hundreds of specialties. In episode 3 I talked about the continuum that real estate investing spans. It can be heavy on the business side or lean more toward being an investment. The most well-known method is "Flipping" houses or being a "Flipper". Is a business activity that allows you to earn...
Episode3 - Stocks vs. Real Estate vs. Starting a Business
February 07, 2018 22:15 - 31 minutes - 40.9 MBToday I'm talking about the primary category of choices the average person/family has when it's time to invest. The 3 big broad categories are the Stock market vs. real estate vs. starting a business. What should you invest in? There are promoters of all of these and they'll each tout the benefits of each. What should YOU do? I'm comparing and contrasting what I think are your three best choices. You can buy stocks, put a down payment on some real estate, or put you and your money to wo...
2. My Back Story
February 02, 2018 20:27 - 20 minutes - 27 MBThis week I'm going to be talking more about my personal story and how I how figured out how to break free of the matrix. How I started investing to ultimately create more time. You see I don't have a day job anymore. I spend most of my energy now working on projects that fulfill my purpose. Ready Investor One Credo You’re invited to meet your future. You can prepare to meet your future ready to play Or be caught blindsided unprepared to play the game. investor one: the choice is ...
1. Always Invest In Yourself
January 31, 2018 00:37 - 21 minutes - 29.7 MBThis show is all about the mindset and mechanics of how to achieve financial independence through investing and will focus primarily on real estate. Today we're going to set the stage and talk mindset. I want to help you make a switch in mindset from thinking about exchanging your time for money to investing your money for time If your job or business stopped paying you... would you still do it? Or maybe let's make it a little more interesting. If you had all of your basic expenses met what ...