The 3 Mind-Blowing Ways To Generate Passive Income

Lance: Welcome, welcome everyone across the fruity plains in America and around the world. Everyone in Australia and Canada. We have a larger audience than you think. 800,000 downloads a month and growing because we don’t stay with just one subject. We not only give you the analysis what’s happening geopolitically from a prophetic perspective, but we give solutions. That’s the reason why the left is so worried about us, because we actually have plans for how to reverse the curse of, what is happening? We believe that knowledge is the key. My People Parish for Lack of Knowledge is one of the great promises in the Bible. Mercedes Sparks, you’re knowledgeable. Welcome to our show today.

Mercedes: Thanks, Lance. You’re knowledgeable too.

Lance: Yes, and then and being knowledgeable is why we have a special guest today. Wealth Builders International is one of the great resources we discovered. We share with you guys’Birch Gold and various other strategies. We just did interviews with Kevin Freeman who’s got the Economic War Room and we believe that during this period of unprecedented economic chaos, you do not have to be afraid. You don’t have to live in fear. You don’t have to live in the news cycle of how people are just creating this anxiety over what’s going to happen to the economy. Because as you’re about to find out during periods of economic chaos, elites make money. They do it through strategies. But we believe like Donald Trump says, you people are the elites. You’re the ones that are actually in the know about what’s happening.

So, we’re going to give you the information that is known in the inner circles where if you ever notice that it’s the politician, Nancy Pelosi, I found out today has a better track record of investments than Warren Buffett. And that’s not because she knows more than Warren Buffett. It’s because she has inside information. And that’s basically something which every Christian ought to have. Inside information. Because you’ve got the spirit of God on the inside of to give you wisdom to be able to handle whatever’s coming. So, let’s go ahead and bring on Karen Conrad, our expert presenter today from Vice President of Wealth Builders. Karen, welcome to the show.

Karen: Thank you so much Lance. It’s so great to be here with you.

Lance: It’s so good to see you again. Now I understand that one of the big areas that you and I’ve been watching you over the last couple of years and it’s been amazing. You have been a student of these ideas in real estate. And real just by leveraging knowledge and learning, you already yourself are somebody that I’m always hearing about the new properties, the new investments,the new expanding frontiers of what you’re doing. I got to say, it just makes me, it just wets my appetite to say I need to learn more myself. Because you’re doing this and your husband while you’re doing other stuff. You’re learning how to do this and you’re almost like leveraging your available time to gain the knowledge of what to do with real estate. So, I heard something Miles Monroe said years ago I never forgot it. He said, real state is one of the great kingdom-inspired investment strategies. And I said, what? Real estate and he said this, it’s the only verse in the Bible where God actually says, “The meek shall inherit the Earth. That Earth and its domain, its territory, its geography is the ultimate inheritance of the kingdom of God”. Therefore, the meek ought to be inheriting it. Then, if you’re a Christian, then you should be the one who is diligently inheriting Earth because what you do with Earth is different than what the devil would do with property.

So, you guys are you’re and for a treat today. Karen, help us understand this idea. First of all, am I right in saying that more wealth is transferred during periods of chaos than periods of stability. So, I want our people to have peace of mind and kind of like spread their wings in the storm and fly in the right direction. Is that, was what I’m saying true?

Karen: Yeah, it really is true, Lance and well, when encouraging quote too that makes a lot of sense but one of the times in history where many millionaires were actually established one of the largest times in history was during the great depression. So, what does that tell you? It tells you that one of the biggest times of chaos that we know in recent history at a time where most people felt lack. There was a group of people that knew what we are going to be talking about today and they step in and they built wealth for generations through real estate.

Lance: Alright, so start us off on the journey. What do we need to know to begin the journeys? You’re talking to let’s assume all of us are starting off as kind of neophytes, novices in this. But you’re the inspiration for me that you could start and do an accelerated growth strategy even coming from zero. Especially by learning what is really important and not wasting time with what is superfluous.

Karen: Yeah, that’s great Lance and we did. We’ve been listening to Billy Epperhart with Wealth Builders. I’m a part of his organization for years and I’ve been in real estate. But there’s something about the wisdom and the knowledge coming together with Billy and Becky that really got us in the position to be able to step out and just boldly purchase real estate and invest and we have been at this really less than two years as far as purchasing properties. We have properties now and we’re really stepping into this. But one thing that helped us Lance is that we like to look at statistics and history. And as we’re looking at some statistics, this one really jumped out that over the last two centuries, about 90% of the world’s millionaires have been created by investing in real estate. So, for the average investor, real estate offers the best way to develop significant wealth.

So, that’s kind of where we started like, understanding are we called to do this and we really felt that we were that this was something the Lord was directing us to step into. Knowing that there’s a track record of success in real estate and then, understanding and getting knowledge in how to invest. So, one of the first things that we always encourage people to do is to get knowledge and then, take that knowledge and start using what’s in your hand to start in investing.

Lance: Well, 6 and so it is 6 properties in less than two years and the beauty of this is that you’ve been mitigated risk somehow. How have you avoided the risk that people take when they get involved with real estate investing. What’s a mistake that’s commonly made?

Karen: Well, I think a lot of times it’s in the analysis of the actual market. And also, I think another risk that people have and this is going to sound very counterintuitive is people thinking that they should go into real estate or they can only buy real estate if they don’t leverage debt.Those were two things that we really had to tackle and understand, but mitigating risk is about getting information and knowledge on how to analyze a market and the numbers that you need to reach, and then of course, we’ve got God inside us. We have the Holy Spirit that guides us with spiritual things to help us know like this is the land that you’ve called me to. But we talk about 5points that really help people to stay within what I like to say the rails to run on and it’s not what you find out there in articles.

I was reading an article about the top rental property markets and they don’t meet the numbers. And so, I’m not sure what people are generally looking at but if you stay within the guidelines that we share with you and that Billy teaches, you will be in that safe spot, that safe place with investing in real estate and you’ll come out doing just fine.

Lance: So, let’s just clarify something. So, the first step for a lot of folks is that’s why you said it’s counterintuitive. The first step is you got to be realistically cutting down and getting out of bad debt. That’s debt where money is working against you and that you’re in the squirrel cage trying to just kind of the hamstered cage, whatever metaphor is, but you’re just trying to keep up. The goal is and you guys have a brilliant 3-step process for moving to the point where you get out of poverty to sufficiency and then from sufficiency and a prosperity and then into investment strategies. But learning how to leverage debt, you said that, that means that there’s a strategy to get out of debt that we’re going to be focusing on in our training. Because in order to invest, you have to be able to qualify good, to leverage debt which is really using money to work to your advantage. It’s other people’s money basically that you know how to smartly invest so that it’s working for you while you’re paying back the money that you’re borrowing. Is that correct?

Karen: That is correct and when we talk about debt, lot of people think that they have to pay their house off or maybe even they have a car loan that’s deductible. We are talking about debt that is the 18 to 20%, the credit card debt. The debt that is draining you and what you purchased with that debt is something that is a depreciating asset. Meaning, it’s not something that would ever make money for you. So, cleaning that up and we do have a debt snowball calculator to help you with that on the website, “WealthBuilders.org”. But just because you have debt doesn’t mean that you are disqualified from investing in real estate. One of the things that Dave and I had to really get a hold of and understand something called the Law of Leverage.

So, when we are properly using the Law of Leverage with real estate, we are taking the money that we have or the equity in our current home. There’s a lot of ways to get capital and we are investing it in something that is actually going to earn money for us and build wealth. One of the things that’s a beauty about real estate is when you are in an investment property, you really have three ways that you are building wealth with that one investment. So, one of them is through cash flow. The buy and hold where you got a cash flow or vacation rental properties. We actually have three vacation rentals where you take that money and you’re able to put it in the bank and live on it as income.

The second one is you got somebody else paying down your mortgage and I can go into more detail about the Law of Leverage. We’ll certainly be covering that in an upcoming workshop that we have but when you’ve got people that are paying you to stay in your house, they’re paying down your mortgage. So, not only do you have cash flow that is building wealth, but your debt is being paid down by somebody else. Then, the third way is appreciation. We all know there’s been, really high appreciation the last couple years, I think that’s going to slow down. But if you look at it over history, real estate has been one of those investments where the value of real estate continues to rise. So, you’ve got three things working for you with that investment in real estate.

Lance: It’s amazing and my ears perked up on this years ago and I remember Neil Cavuto was interviewing Donald Trump. It was 2008 before Trump was even thinking or publicly discussing running for elected office. And Cavuto was saying, ‘Donald a lot of people out there are discouraged. A lot of people out there are nervous. They’re worried. They’re looking at this this this meltdown in the economy. Can you speak some words of encouragement to them?’ And Donald Trump God bless him. Being the entrepreneur that he is. He missed the queue there. He he’s learned how to do it since then. But he hears what he said. He said,’Llet me tell you something. It’s great.’ 2008 is loaded with opportunities because when there’s an economic downturn people who Shouldn’t have been in properties have to get out of them. People are over leveraged. They’re over their head.

There are so many deals out there right now. I just bought a winery in Virginia. I’ve now got Trump wine. He’s talking about and Neil’s holding his head like you’re missing the point. Donald Trump, can you encourage people and his encouragement was, yeah. Learned the knowledge of what to do during a time like this because there’s deals, all he could see was opportunity that’s the mindset of I would say an enlightened entrepreneur. It’s that same scenario that you’re looking at that is causing you hand rigging anxiety which is so much of the church right now. Also, is what is changing that creates an opportunity. When the walls of Jericho came down, it was a game changer. Something changed but it also meant people could go in. Karen, I’m saying this, there’s an opportunity even in the midst of shaking for people who know what to do to position themselves so that the circumstances not working against them, it’s working for them. You mentioned the Law of Leverage. Give me a couple of more of these brilliant proverbs that you guys work with at Wealth Builders Investments.

Karen: Well, I really like what I’m hearing from you Lance when you comment on this, because you’re really, it’s staying out of fear. And that is something too that we know that God has told us fear not and with the media there’s so much that is trying to come at us to bring on fear. But when we stay in that place where we know Lord you are our provider and we say where Lord should we go. We can let go of fear and see these things clearly and make decisions like what you’re talking about. So, Law of Leverage is a big part of it and that also include tax strategies. Alot of people are out there making a lot of money on their W2, but when it comes down to it or maybe a payout on a business or whatever that might be, they’re giving a lot of money to the government.

So, one of the ways that real estate helps you tremendously is it reduces your tax liability,because it’s one of those few things that are left for us to be able to deduct. And so, along that same line we’d share with you about a 1031 exchange and something called a real estate designation that we teach and train you how to attain which gives you pretty much unlimited write offs on your tax returns when you manage it well.

Lance: That’s a powerful statement there. You said a 1031 exchange and real estate designation for write offs. Just give me a little bit more on that, because for a lot of us it’s like, alright that sounds like one of those inside. I tell cousin Billy, I said, that’s the secret sauce right there. He’s got the secret sauce in his recipe. What is that like, give me an example? What is that look like?

Karen: 1031 exchanges is a tool that is available for people when you invest in real estate and maybe you’re in an area it’s appreciated and you want to sell and maybe go to a different area. Or it’s a time where you’re just like, you know what? I want to get out of multifamily and I want to move in vacation rental or even commercial building at the peak of appreciation where you really want to get that sold. But in the midst of that you want to find a way that you are not going to be paying tax on that capital gains. Or if it’s a flip that you hold for less of a year, it’s actually earned income. Well, a 1031 exchange is a way for you to take the equity out of an investment property and take it out of one property and it over to another property which defers your capital gains.

So, there’s a specific way to do that. There are certain firms that you work with to make that happen. There’re some guidelines with it but this has really helped people. I know personal friends of mine have looked at California. They’re investing there. The prices are really high and they’re like, you know what? I don’t like what I’m seeing coming down the pipe. So, they 1031 out of California and brought that money we hear by the droves into Texas, to Florida, Tennessee, and they were able to do that without having to pay a lot of taxes in capital gains. So that is a significant, like you said, secret sauce that we teach on and help you with the right way to do that. The other item we are talking about the real estate designation is a process that we walk you through, that you work with your CPA that gets you to a where you don’t cap out at $25,000 of write offs per property, but it takes the lid off that to allow you to write off an unlimited amount on the properties which brings your tax liability way down.

Lance: Well, you know what? For those that are listening right now, here’s what I want to say. If this is the conversation, I’m just talking to Karen. This is what we do when we’re hanging around. That’s why I wanted to have her on the podcast. That’s why I’m working with Billy. I want to this with all my friends, because I think the people that listen to me are the salt of the earth. You guys are a beautiful audience. You’re a beautiful people. I know you. I read your comments, your chat threads, your letters you send me. I want you to have peace of mind in the midst of the storm and I want you to have strategies out and of course, there’s someone out there who’s going to say, but Lance, I don’t even have it and barely get my head above water. There’s a strategy for being able to get out of survival mode into the place where you could start to participate. Some people even pull their money together. They figure out how to get their first property or their first investment together.

I got pastor friends of mine where they work with a couple of other people and they find a property where they could fix it up and flip it or something like that. There’s a way forward. I just want to speak that to you but the smart thing to do is you want to spend at least a day too with Karen. Wouldn’t you love to have Karen coaching you and saying, put your left foot here, your right foot here, this is where I was, same thing. My husband and I prayed about it. We started with this and we went to that. You’re doing a workshop, Karen and I I’m glad I got you before the workshop. Tell us about the workshop.

Karen: Yeah, thank you, Lance. We’ve got Wealth Builders Real Estate Mastery Workshop that is coming up October 14th through the sixteenth. This is an amaze workshop. Billy’s going to be speaking at a lot of the sessions. We’ve got breakout sessions with two tracks. We’ve got for beginners and intermediates and then we’ve got an advanced one. This is over 20 sessions of teaching on the weekend. So, we start Friday night. We go through Saturday. We go through Sunday morning and you will receive so much information to help you get ready to start investing or if you have dabbled in investing and you want to do more. This is going to help you really do it well and, in a place, where you can just face the future with confidence. So, we really want you to check that out and you can learn more about it at “Lancewallnau.com/realestate”.

Lance: And if you use promo code Lance50 and you get 50% off.

Mercedes: Yes, when I saw that Karen was putting those prices out there, I said Karen, you’re giving tickets away. Like I don’t even know how she’s affording to do this. Plus, if you bring somebody else. So, just full exposure, I will be there and Larry will be there.

Lance: Is Annabelle going to be there?

Mercedes: I don’t know if Annabelle’s going to be. I know Joy will be.

Lance: I think my daughter’s going to be there. I think Annabelle wants to be there. Am I free?

Mercedes: No, you are speaking at a retreat.

Lance: I can’t believe it.

Mercedes: Yes. You’re going to be there.

Lance: I’m speaking at the Big Z retreat.

Mercedes: Yeah. Exactly.

Lance: Speak with a bunch of rich people that all do this stuff.

Mercedes: Yes, but use, it’s Lance50. And I just want to say to because sometimes I’m like I’m a bit of a novice and you guys sometimes sound like you’re speaking in code, which is what I love.Because Karen and Billy, I imagine it is like you’re going to like you’re down there scuba diving.Like you guys are in this conversation down here and I’m thinking I’m at the snorkeling level. So,what I like with what I like with Billy and with Karen and what they teach because they do everything. I mean they help everybody across the board. You might be in debt. Guess what? Real estate is still for you. There’re still strategies that are there for to help you unlock take what’s in your hand and make that start working for you. And the great thing about real estate is maybe you don’t start.

I mean obviously Karen like when you and Dave started investing, the goal isn’t buy huge $400,000 homes or $300,000 homes. I mean we’re talking like $80–90–100,000 homes and Billy shows you how to buy these things with no money down. It blows my mind. So, I have got to get my hands around it, because I was dinner with Karen and Dave a few months ago. I went home and I told Larry. I was like, Larry, we have to figure this out.

Lance: I know. I had my assistant Jonathan Wheeled. I had Billy over for dinner. I had an assistant working for me who said, Billy is from Great Britain. He goes, I’d love to get it and Billy sows to him, his CD series. Jonathan listens to it. Next thing I know, he gets married, he’s buying properties, he’s living in a duplex, the neighbor next door is paying for his mortgage. He goes, what’s going on here. And I’m still slipping around selling my Trump flag.

Mercedes: But that’s what I love. But Lance that’s what’s great about you and I’m going to call it a Rolodex for those back in the day. Is that, you have access to so many interesting people like Billy and Karen. You’re so kind I think to bring them to everybody to say, hey, here’s what we’re looking at. I mean we’re literally I’m doing it. Joy and Annabelle have already been. Billy has been a part of your life for what, 8 years, 9 years now.

Lance: Oh, longer than that.

Mercedes: I mean these are the people that that you work with and that you’re seeing have blessed so many different individuals in your life. And now you’re like, listen, I want to bring them to everyone everybody needs to know about these guys. So, anyways that’s why I love Karen and Dave and Billy and Chad.

Lance: Listen man, and once again you guys you got to act now you got to move fast. Because these opportunities come and then they go. Meanwhile, the people that are smart are seizing the moment and it’s kind of like in a dot com era or like in a real estate boom or the gold mines, the gold days. The people that are out there in the wild west, there are more people following this, they’re piling, there are more people going into this all the time. So, let me just create an urgency for you. The property that’s available. The more people that understand how to run the metrics, those guardrails for safe and smart investing. The secret formulas that you’re going to get on where to look, how to qualify, what are the numbers to look for. Like Annabelle came home with a formula. She was telling me about from just one workshop she went to and it was, how to eliminate 90% of the glitter and glitz opportunities and go for the real pan the gold opportunities.

I’m telling you it’s going to be this workshop. You want to go to Lancewallnau.com/realestate”. Use the promo code Lance50. Save 50% and you even get to meet Mercedes and Annabelle and Joy.

Mercedes: And Joy. And Matt.

Lance: Well, we’ll introduce him gradually.

Mercedes: We’ll introduce Matt. We’ll ease him in. I just wanted to say one thing too is one of the things just Billy shared with us in private is that the whole market is about to shift. That interest rates are continuing to rise. We’re going to see the housing market slow down and I can testify to that in my own neighborhood. There’s been houses on the market that were gone within a day or three days. Have been on the market now for almost two months I’ve seen. So, there’s a slowdown that’s happening which means prices are about to drop and that’s why I’m going to this real estate workshop. I’m going to this one at this time, because you guys don’t do them all the time. This is like the first one I could actually attend in person. But the reason I’m going is because I really believe there’s a window we’re about to hit.

I want to make sure that my family, that Larry and I are positioned to walk through this and start doing Karen exactly what you and Dave are doing. And the other thing I want to throw in too, Lance, is when Karen and I were talking the other day, this is like a family business for them, that Karen’s son Levi is involved and it’s just, I want that for my family. So, that’s what I’m moving towards.

Lance: The other thing about this is indeed, it becomes a family enterprise. The kids go out there and scout or they go check up on the properties. The parents are out there and it becomes a real. I do love that about this what’s happening. But there’s only 20 spots left. Look, you got to jump on this. You’re watching this. You’re hearing this. There’s a limited opportunity here. There’re 20 spots left. Regularly, this is what $897 for the, is it 1 day, 2 days?

Karen: 3 days.

Lance: 3 days, alright. So, it’s a 3-day intensive but my audience gets half off. So, that’s like $448. But you can also bring a guest. Mercedes, how does that work? They can bring.

Mercedes: Its discounted even more so normally $299 with the code Lance50 is $149.

Lance: What does that mean? You can bring a guest for $149?

Mercedes: Yes, it’s not another full price ticket, it’s 150 bucks.

Lance: Come on man. Like husbands and wives do this. Mom and daughter, father and daughter, that is really generous. Are we going to be able to put this out there for folks that are not going to be able to make it?

Mercedes: You know what? Well, let’s talk with Karen and see if we can get something together for maybe like an online a live stream or something like that.

Lance: Alright, we’ll work on something. But the main thing is you want to go interact be with other people Be in the atmosphere of faith. Make friends. Find people in your own backyard that could be scouting out together and looking for stuff. Because you could do stuff together that you might not be able to do on your own. This is a 3-day intensive extraordinaire. We only have 33 seconds Mercedes left in this segment.

Mercedes: What? You have time left?

Lance: I have 27 seconds right now. Here’s what I’m going to tell you. You invest in the right kind of knowledge and you know what happen when everyone else is panicking, you are seeing the field is changing and the opportunities are coming your way. I’m telling you something. You’re going to see opportunities in the days that are ahead. You want to go to get a hold of this. Jump in on this right now, Karen. Thank you so much.

Karen: Thank you.

Closing: Did you enjoy this latest episode? Please remember to share it with your friends.Because the more knowledge you have, the better equipped you are to navigate the world.