Wealth Without Wall Street
51:16 · 2019
Scott: We’ve got Joey Mure and Russ Morgan from the Wealth Without Wall Street Podcast that I was honored to be guest on. I love what these guys are doing. I love what they are doing. They’re going to rock your minds. What is going on fellows? How are you doing?
Joey: Thanks for having us on.
Scott: I’m excited to have you on here. Why don’t you introduce yourselves to Note Nation? Russ, why don’t we start first with you?
Russ: I appreciate you letting me go in first because I usually try to dominate the conversation in our podcast. It’s awesome to be on here to share some insight on what’s happening outside of Wall Street. That’s what you do on a daily basis as well. Our group is based out of Birmingham. We have a podcast called Wealth Without Wall Street. I’m looking forward to sharing.
Scott: Joey, tell us a little bit about you?
Joey: I love the idea of what you’re doing with note investing because my background is in the mortgage. I have seen the game from the bank’s perspective and I’ll tell you to be in their seat, that’s where you want to be. I’m excited that we can share some different practical ways that people can take that seat back from the bank and get all the profits.
Scott: You are doing something creative investing out there. You are helping a lot of your clients to take advantage of stuff. Joey, talk a little bit what your focus is and how you’re helping your clients out. If you’re an investor reading, these guys are going to blow your minds.
Joey: The easiest way to intro Wealth Without Wall Street, most people have this question, “What does that even mean? I’m intrigued by it. I’m not a big fan of Wall Street, but what else is there?” Those are the typical questions that were asked on a regular basis. We try to sum it up in five pillars. The first would be cashflow. You know a little bit about that in note investing. How do we maximize it? How do we have debt strategies to reduce the amount we’re paying out to other people so we can keep more of it? How do we use tax strategies under cashflow? If you’re paying $50,000, $75,000 or $100,000 in taxes, what would you do with $30,000, $40,000, $50,000 of that back in your pocket? How many more notes could you buy if you are implementing some of these tax strategies?
The second pillar would be life insurance. How we use life insurance as an asset type. The banks know all about this. We’re creating a way that we can do it at the you and me level. Infinite banking is one of the primary baselines of that using life insurance. The third would be the business. How do we use our business as a passive income asset? The fourth is real estate. It’s another pillar. Whether that’s flipping land, whether that’s apartment investing or whether that’s note investing. It’s a mutual real estate. Our fifth pillar is lending. Note investing falls into both of those. That’s why we’re passionate about what you’re doing. We’re grateful to share your message with our clients and audience as well. Those are our baseline on how we create Wealth Outside of Wall Street.
Scott: Russ, what do you want to add to that?
Russ: When you said the treadmill, we’ve talked about this on our show, it made me think of the rat race that most people are in. Kiyosaki has coined that phrase of getting outside of the rat race. That’s being on that treadmill, that hamster wheel or whatever you want to call it. The people that we’re trying to help are trying to find wa