Franchising & Real Estate | Second Life Method Podcast FRE | 2LM
Business
LaunchPod Media inc.
Join host Kelly Maxwell as he explores proven strategies, shares his success stories, and features conversations with industry experts who have mastered the art of global real estate investing. Tag along and discover how offshore real estate can be a game changer in your financial future. This podcast is designed to be your ultimate guide in learning all you need to know about investing in real estate, dealing with offshore assets, and becoming a top-tier property manager. You can also expect to learn valuable insights on other related topics like franchising and building generational wealth. Tune in each week to unleash the power of the foreign market and grow your cash flow today!
Simple Interest vs. Compound Interest | The 8th Wonder of The World
Compound interest every time! Kelly helps you clear up this simple investment principle, as well as a few others over the next couple weeks, so come back to learn more in addition to this episode. Einstein called compound interest the 8th wonder of the world, saying “He who understands it, earns it. He who doesn’t, pays it.” The implications of compound interest are massive compared to investments earning simple interest.The definitions of each 1:25Calculating simple interest 2:20“The definition of simple interest is a method of computing interest where you apply the interest rate only to the original principal amount. The definition of compound interest would be, you apply the interest rate to the original principal amount, and also to all accumulated interest.” 1:25
07:4102/11/2024
CEO vs. Founder | The Essential Differences
Kelly talks about CEO vs Founder in this episode and the essential difference between the two. We hear these terms a lot online, and the term CEO for example sounds very sexy and there’s some prestige. It means you’re a leader and there’s some kind of influencer of people and you have some authority. The other term can mean great wealth, and it can command respect. Both are considered successful by society. “‘Forget CEO. Settle for the title of founder.’ I thought that was good advice. Sometimes you can help your company grow by getting out of the way.”Key perceptions of a CEO 2:00Founders 5:45Leadership styles 9:45“The company’s founder is generally perceived as the visionary, the creative force behind the company’s original idea. Their thing that they developed, that pulls, that has value, and they’re deeply passionate about the product, and focused on innovation, while a CEO is seen as more a pragmatic leader responsible for the operations and ensuring the company runs smoothly, often with a broader skill set than a founder, to be quite honest.” 6:00
17:5401/11/2024
Cash on Cash Return | Measurement for Calculating Asset Cash Flow
Many investors’ North Star is this cash on cash (COC) return measurement of investment. COC is a static measure. It’s simpler to calculate and takes into account fewer factors than IRR (Internal Rate of Return). With the election on the horizon and some changes happening in the country, these measurements will or should become very important to you over the next couple of months. Static measure is a measurement that doesn’t take into account time. Static measurement 1:30Doesn’t take into account tax rate 3:45Getting the best return you can 8:30“A static measure in mathematics means it’s a measurement that does not account for the passage of time, one where the measured quantities are always constant or changing very slowly. Investors love to run this measurement because it gives them a picture of how much they’re going to make on a rental today.” 1:30
13:3001/11/2024
IRR | The Mysterious ‘Internal Rate of Return’ Simplified
Kelly talks about IRR, or the Internal Rate of Return in this episode and simplifies for those of you who have a hard time understanding exactly what this means. Why do investors need this investment measure? Many just make sure the cash flow is positive and don’t bother to calculate the investments beyond the basics. Why would there be a debate about these metrics? This may seem slightly nerdy, but it’s for good reason, because our assets are on the line. A good reason to do this 7:30Why you should care about this 9:30Example calculation 17:40EBITDA and IRR 28:45“Analysts can to a certain extent, predict the future in that way, based on well understood facts about the present, and they can extrapolate things with great accuracy in the future based on things well understood in the present. You must look into the future as an investor.” 29:13
36:0301/11/2024
Time Value of Money | The Clock’s Ticking!
If you already understand the time value of money very well, maybe you send this to your investment partners or your staff who may need a refresher on this very important financial topic. Maybe they’re about to send their own money, or your own money, away to Wall Street for pennies on the dollar and you’ll end up doing something you regret. This episode is gonna help put you at ease with the time value concept and clarify some ideas that maybe you aren’t so familiar with. Knowing if you’re getting a good deal or getting hosed 2:45The cashflow 3:50Money received today is worth more than money received tomorrow 7:30How your money loses value over time 16:00T bills 23:00“If we know that money loses buying power each year, we can actually calculate the monthly value of the loss and use it to guide our investing and learn the real present value of our investments.” 21:50
31:1925/10/2024
“EBITDA” | Exactly How Much Net Profit Does Your Business Make?
What on Earth is EBITDA? It’s an accounting measure that’s calculated using a company’s earnings before interest expenses, taxes, depreciation, and amortization are subtracted as a proxy for the company’s current operating profitability. This has become a very popular form of measurement for valuing investments over the last 20 years. What did the owner make after ALL the vendors got paid? Join Kelly to hear more about this concept today. EBIDTA fails to account for all earning potential 3:00Selling his first business 8:00Don’t worry too much about it 15:30“Just know what EBITDA is, but be armed with the knowledge that there are legitimate people out there who think it’s total BS. I think a little bit of both is probably a healthy way to look at that. Don't measure all your investments with it, but don’t ignore it entirely.” 15:50
18:4724/10/2024
Discounting Cash Flows | The Present Value (PV) of Future Income Streams
Kelly starts of this episode by talking about an investment filter and asking “Which way does the cash flow? Does it flow away from you or toward you?” This is an old tip given by Robert Kiyosaki, author of Rich Dad Poor Dad. Cash flowing toward you helps you feel good and gives you relief, freeing up financial strain and giving you freedom to expand your attention to other areas of your business or life. Always ask yourself these questions 2:15You feel wealthy when cash flows toward you 3:30The investor must establish a basis 9:45“Don’t send your money to Wall Street without understanding what you’re investing in first, how much it earns relative to other investments, or better yet don’t send your money to Wall Street at all and invest in income producing real estate and businesses instead.” 1:30
19:1624/10/2024
Tulum 2034 | AirTaxi – The Future of Transportation in The Mayan Riviera
Today we look into the future, as we often do on this podcast, and part of Kelly’s job is to keep you updated on the best modern investments and the new changes coming to the market. Today’s topic is flying cars, also known as air-taxis, aerial vehicles, or air transportation. Vehicles are going up into the air to fly above us. They use a combination of electric propulsion and vertical takeoff and landing, which provide a revolutionary takeoff and landing, and efficient short to mid range transportation. How this will affect the average person 4:305 figure properties in Tulum 9:50Remote locations: this affects investors 15:15Air travel is coming to Utah 18:30“Consider how it might affect your real estate investments and large kind of land parcels and properties with lots of space to land aerial vehicles. I'm telling you guys, they will become more available and you will see that listed in the real estate listings before too long I think.” 15:5
28:2821/10/2024
Building or Remodeling in a Historic Zone
Today Kelly is talking about building or remodeling in a historical district or zone, depending on where you live, but there are historical zoning laws that govern the comings and goings, and remodelings of all historical structures in the communities in which you live. When it comes time to remodel or refurbish these old buildings, one will have to navigate these laws and this episode will help you learn what it is like to remodel a home or property within a historical zone. An example from Kelly’s life in Salt Lake City 3:30What you wanna do 10:25Research the home’s history and prepare 12:20“What you wanna do, these are the key points to consider in a historic remodel. You want to maintain historic features. You want to prioritize preserving elements like the woodwork if it’s built out of timber in North America, the plaster, the windows, the doors, hardware, the exterior details that give the home its unique historical charm and make it such a memorable building. Repair before you replace.” 10:27
19:5115/10/2024
For Those of You Who Sell a Premium Product or Service
If you’re in business and you sell a premium product, package, or version of your product/service, do yourself a favor and do everything you can to make it feel premium to those you serve. Most companies mess this up. You also need to be very clear to your customers about what is premium. If you’re out buying a sports car, you might go and look at a car with an introductory trim, which is your base model with only the basics, but there will inevitably be a fully loaded car in the show room with a list of all of the different premium features that differentiates that car from the base model. Communicating exactly what your premium service is.The business owner’s responsibility 5:50Massively over deliver on value! 14:40An example of a business missing the mark 21:00An attorney who never faltered 28:50One element that makes a big difference: pricing 32:40American Express was there for Kelly 42:00“In this case, the word premium maintains its current meaning as the truly over the top, the truly premium, as in it couldn’t get any better than this. All our resources are available to you as a client. This is all we got, we’re pulling out all the stops and it’s all for you. We serve you good news or bad news with a smile and we’ll handle it, whatever it is–type service. World class. Don’t stand for anything less if it’s being branded as premium.” 6:15
46:4911/10/2024
Bootstrapping Intelligence | Kelly’s Bookshelf Pt 2
Today Kelly is talking again about his bookshelf and you’ll get an inside look into what Kelly Maxwell has been reading and what books he most recommends. These are the same books that have helped him along his journey to financial abundance, which if you take the time to read, you will greatly benefit from. Kelly is an avid reader and he considers books to be his teachers and mentors in his career and life. The word is more powerful than the sword in influencing thought. A great book can really influence your path and set you on a fresh start if you’re needing a boost in life or business. A Framework for Understanding Poverty by Ruby Payne 3:45The ABC’s of Real Estate Investing 8:45Secrets of Closing the Sale and the Franchise MBA 10:20Guerrilla Marketing by Jay Conrad Levinson 16:35Crushing It in Apartments and Commercial Real Estate 18:50Can’t Hurt Me by David Goggins 20:20Overbooked 23:00Franchiser Relationships Book of Tips 26:35Brandon Turner 28:15Weapons of Mass Instruction 30:25The Structure of Scientific Revolutions 34:45The Multi-Family Millionaire and Freezing Order 39:25Setting the Table 45:00Success Is Never Final 46:30Tony Robbins 50:30100 Million Dollar Offers 56:30“Paradigm shifting has been a part of our scientific heritage, that scientists were desperately lost on certain topics 200 years ago, and so I imagine we are desperately lost on certain topics today, only they seem like totally valid, and totally represented by the current paradigm, and totally scientifically sound today.” 37:57
01:02:0609/10/2024
Bootstrapping Intelligence | Kelly’s Bookshelf Pt 1
In this episode you’re going to get an inside look into Kelly’s personal bookshelf, the things he reads to run his businesses and to build his empire so to speak. If you’re familiar with Kelly’s story, you’ll know it’s one of these rags to riches types of story where he didn’t grow up with wealth or any advantages. He grew up in a lower middle class American family in a small cabin in the woods of Alaska. He had a very loving family and good upbringing with parents who did well enough in their own careers, but Kelly wanted something more and these books that he lists today are, from the bottom of his heart, how he built the structure on which he resides today. The Complete Guide to Real Estate Finance for Investment Properties 8:30The Body Keeps the Score 9:30Think and Grow Rich by Napoleon Hill 18:00The 6 pillars of self esteem 19:15What they don’t teach you at Harvard Business School 22:40Zero to One 33:00Steve Burgess 44:00“What happens is that many people, or most people you could say, are not brought to confront the harsh realities of their lives. They are not brought to the precipice where they are made to face the pain points in their life. Some of us are brought there through things like trauma, like an accident or assault…those issues continue to influence people to the present day.” 41:35
48:5703/10/2024
Building a Property Empire | Lessons from Abi Hookway
In this episode Kelly had the opportunity to speak with special guest Abi Hookway of Touchstone Education. Abi is a passionate property investor who transformed her life from an unfulfilling corporate career to becoming a multi-million-pound investor within five years. She specializes in various property strategies and now shares her expertise through mentoring, books, and seminars to help others achieve financial freedom. Abi is committed to guiding both new and seasoned investors to unlock opportunities and build sustainable wealth through property investment. Join Abby and Kelly today in this value-packed episode!How she came to where she is now 2:30Getting into property investing 5:30The niche she focuses in 14:30Rents and how those increase 19:00Purchasing in presale 23:30Helping the people in her business 27:30How to find Abi and her book, Flip or Flop 35:30“It came to my attention that I was making 70, 80, 100 thousand, from flipping one property. Some people were doing the same and only making 10 thousand? I was like, ‘I don’t understand why I’m making so much more.’ and it came down to the knowledge that they knew.” 37:07abihookway.com@abi_hookway
42:5601/10/2024
Are You a Bugatti in a Trailer Park?
There was a social media post in which an American football player posted a picture of a Bugatti parked in a trailer park and was trying to send a message to his team about being held back and him being a very star player, playing in a market where he could not shine to his highest capacity. Kelly saw this story and began thinking about how this story could be interpreted as if it were about investors. Do you ever feel like you’re a Bugatti in a trailer park, and that you have what it takes to catapult yourself into financial freedom? Kelly feels he was that way, a fast car among slow cars, and so this episode is for those of you who feel the same way. Doing whatever it takes to obtain a Bugatti 3:15Walking the walk 4:45You’ve got great ambitions 7:00“It’s a human need to have these big outlets to express ourselves, and to fuel that fire that we have to get out there, and to invest, and to have fun doing it, learning, stumbling, making mistakes, but eventually making a profit. It’s fun. It’s life changing.” 6:37
10:0927/09/2024
Rent vs Buy | The Debate!
In this episode Kelly talks about the heated debate of buying vs renting, which debate rages today. There are many people who are very passionate about either of these sides of the issue, and as a disclaimer, Kelly has done both and believes there are benefits to doing either one, which he will go over in this episode. It’s really not necessary to debate this. The decision to rent or buy might be primarily financial, but your lifestyle, goals, or future plans should also be a factor in whether or not you rent or buy. Owning provides potential stability 5:00Lower up front costs 7:30Fees 9:00Location 9:45Freeing up time and money 10:30Home owners have more control 13:20Building equity 14:55“You can make your own money. Don’t buy houses and let them appreciate as a strategy to make money. I think you’re going to be very, very disappointed. Don’t allow yourself to believe your home is your greatest asset, it’s a wonderful asset, but use it strategically. If they’re going to loan you that money to buy all these homes, definitely don’t use it to bury yourself in debt.” 18:33
21:0427/09/2024
7 Things to Ask Yourself Before Buying Your Next Home
If you’ve already owned 20 homes and you’ve got apartments and commercial real estate, then you’re beyond this house buying stuff. However, if you, your son or daughter, or someone you care about is seeking to buy a home for the first time and needs to hear what the process of buying a home looks like, go ahead and send this podcast to them, and get them asking themselves these key questions about investing in their first home, or perhaps their next home. Before you buy your next home 1:20How much can I afford in monthly housing costs? 2:50Am I prepared for a long term investment? 5:15How long to stay in the home 6:50Stability or flexibility 7:40Home repairs and maintenance costs 9:15Financial career and family goals 11:30Is Home ownership in my neighborhood achievable? 13:00“House poor, when the majority of your income each month goes to your mortgage payments, and your insurance, and all the expenses associated with owning a home, instead of a more healthy margin which is around 30%.” 3:35
17:1126/09/2024
Accessing Real Estate Loans for First Time Buyers
If you’re a green, first time buyer, and you feel you really need help and tips for buying your first home, this episode is for you. If you’re experienced in real estate, you can send this episode to a friend, a loved one, or just listen for review. Buying a house these days is quite the achievement, it’s stressful and a lot of work to find the right place, having to talk with agents, learn about the law, and what your commitment will be once you buy. The type of transaction of this magnitude is not something you see or experience that often in our society, which is why you ask those you trust, such as industry experts, to give you help and mentor you through this process, just like you’re doing now in listening to this podcast. Soliciting the help of a knowledgeable real estate professional 2:05Pre qualification letter 3:20House hacking 5:20Owning many homes and building sustainable wealth 8:00The loan application process 10:35“Be careful with Home Equity Lines of Credit. If you’re gonna use them, use them wisely and strategically, but make sure you have the cash flow off of assets to service the debt. You don’t want to be paying large interest bills out of your own personal account. It’s gonna hurt really bad and they’ll come and take that property away from you if you don’t pay that second mortgage, so don’t give any more of your power to the bank than they already have.” 12:20
17:5026/09/2024
Help, It's 2024, I Own Commercial Office Space!
If you currently own some commercial real estate, you’re likely very familiar with the problems that face your current investments. Kelly also invests in the commercial real estate sector, developing hotels, which is a little different than commercial office space, but he realizes that people who tune into this content are looking for ways to expand and protect their portfolio. So listen up, this episode is for you! And if you’re not invested yet in commercial real estate, even with the market being in a weird place, there are still people making money in this sector right now. Listen to hear about some amazing opportunities you can invest in right now. Hot spots in the market 7:20We are in a transformational period 9:00The success in Tulum and boutique hotels 13:30Remote/office work 16:00Investing in and developing hotels 19:15Founding NINI Hotels 21:15You will be treated well and amazed by the investment opportunity 27:30This investment is very internationally friendly 32:25“So you’ll get your rents, which is your vacation rental income, you’ll have your nightly rate attached to your room. You’ll get a nice chunk of money each month, and then you’ll get this additional money that goes above and beyond what you’ve invested in just because of your affiliation with NINI and is included in your purchase price of the condo. So you get access to all this ancillary income, or a portion of it, which can be quite sizable.” 24:13
37:3720/09/2024
AI | The Future of Tech in Real Estate Investing
Today Kelly is looking into the future and talking about artificial intelligence and tech in the real estate industry. AI is the science of making machines that can think like humans and can do things that are smart. This technology can process large amounts of data unlike humans are able to, which will allow machines to recognize patterns and make decisions or judgements like humans would, or even better than humans would. This tech is being used to be able to effectively predict the market.Generative and predictive AI 1:50Reverse engineering decisions that led to the sale 4:10Determining early markers of economies that are taking off 5:45“So the AI can help us in the short term with risk management, oh man, it’s endless. Algorithmic trading, you can set kind of what you’re looking for, predictive analytics. Again, reverse engineering events before they happen and so, so much more.” 6:08
08:4019/09/2024
5 Hacks the Savviest Real Estate Investors Know
Every once in a while Kelly gets this question where people ask him for the secrets that they don’t want people to know, or what the information that isn’t very relevant to the commoner, so they don’t get shared often. This episode will go over that and Kelly dives into 5 hacks that the savviest real estate investors use to succeed. He tells secrets like how you can avoid paying capital gains taxes after selling properties and making a large lump sum of money. Join Kelly in this episode to hear about those 5 useful hacks!Taxes 1:10Non-recourse loans 3:05Cashflow streams and ancillary incomes 5:40Business income to flow into real estate 7:30Passive losses laws and sheltering business earnings through real estate 9:00“The IRS gives you 180 days and I know that sounds like a lot, but you have to find a property of the same value or a collective value that equals that value of the asset that you’re selling and divesting. Follow the rules that the IRS has laid out and save huge on your tax bill.” 2:14
13:1718/09/2024
Developing Dialectical Mindset In Business and in Life
In this episode of the Second Life Method podcast, Kelly talks about dialectical thinking in business and in life. What this actually means is more or less the ability to consider conflicting views as both being true, such as it’s Spring and it’s snowing. One example Kelly gives is Disney and Pixar, who both were creating children’s entertainment, but seemed to have values that were at different ends of the spectrum early on. Because of a dialectic thinker, they were able to bring the two studios together and eventually merge them into one, which has since produced many of the beloved films we know today. Tune in to learn more important lessons about this way of thinking as an entrepreneur!Developing a dialectical mindset in life and going against the typical Western thought patterns 2:25How this is important in business 5:20Almost nothing is linear 6:45An example from Kelly’s life of dialectical thinking 10:20“Don’t fall into this trap and this habit of thinking that things are linear. It’s all over the place, but in a beautiful harmonious way, and the good news is that business starts to gain a momentum that you can feed into, and this momentum and these needed changes seem to become clearer at the right time. It’s like driving down the road, objects are coming into view as you need to see them and you’re making adjustments in real time. Business is no different.” 8:13
14:4313/09/2024
Radical Personal Transformation
This is something Kelly has a fair amount of experience with and is still working on this aspect of his life. Most of the work is done, but he’s still peeling back the layers, but Kelly wants to talk about business as a transformational journey and just how to connect with yourself, know yourself, make the decision to open a business, start investing and using your hard earned capital to increase your chances of success. Business is a transformational journey and really pushes you to transform your life and grow in ways that most people don’t experience unless they go into the business realm. Going into business, sales, and transformation 2:00You need to know yourself 3:15Your personal past and life will affect your business 5:50Bootstrapping intellect and mentors 7:00“In therapy I learned that if it can be named, it can be contained. It goes back to drawing a connection and knowing yourself, connecting with your pain, and connecting with your past, and then fixing this stuff so that it doesn’t hold you back.” 5:39
10:1011/09/2024
Take the Leap into Business
In this episode, Kelly talks about taking the leap into business. A lot of people talk and fantasize about the idea of leaving their job and diving into a business venture, but that always seems like a daunting task, especially to someone who has never tried it before. There are people who feel that deep yearning for change, things are getting dull, and they just want more excitement and challenge. The dead end job you have and that feeling of dread you often have before you have to go in to do that work you just don’t have any passion for could all end, but it requires a commitment to no longer seek the comfort and security of a 9 to 5, but instead the every day challenge and growth mindset of the entrepreneurial lifestyle. Good and bad news in the same day 3:05Entrepreneurship can change your worldview 5:20Tax benefits 6:30“It’s a problem solving game every single day and the problems are different, and it’s not like you get terrible news each day, but there are things to work on and things to fix every single day and you add that to the things you already knew you had to do that day and the list can often grow and lead to some very full days. The good news is you get better and better at problem solving as you solve more problems.” 4:03
09:0511/09/2024
5 Things You Must Know Before Investing Abroad
In this episode, Kelly talks about things you must know before investing abroad, because if you’re like him, you’ve been on that airplane, you land at the airport, you get out there and are hanging out in paradise, and then you think about the possibility of investing there. There seems to be this visceral, deep desire for people to get out into the world and experience travel following the pandemic a couple years ago with a booming, growing market in the travel and tourism sector. 2LM is committed to making investing in the foreign world a lot more simple and not so scary, which is exactly what Kelly discusses today. No ocean in the world pulls people in the way that the Caribbean does, which provides this unique opportunity for investors to really take advantage of this beautiful, tropical world. The potential of Caribbean investment 3:30Offshore diversified income is going to explode 13:40The importance of currency diversification 18:20Citizenship based taxation for US citizens 20:55Have a great team offshore 24:15There are fewer laws around investing abroad 26:40“Your money can stay out there and be redeployed pre tax if you set yourself up correctly. So if you have money out there that’s making money, so say you have some real estate that’s collecting some cash, you can report and redeploy pre tax if you set yourself up correctly, almost like a 401k, but a real one that makes money and actually grows in value.” 27:12
31:4728/08/2024
Miracles Happen in Business! | Reasons You Should Take the Leap
On this episode of the Second Life Method Podcast, Kelly dives into the entrepreneur's journey. He talks about the importance of taking the leap from employee to entrepreneur, especially in anticipation of upcoming economic growth. He goes over the distinct differences between employees and entreprenerus, such as working hours, income potential, and tax benefits. Taking the leap from employee to business owner can be daunting but can also lead to higher earnings, improved mental health, and a broader perspective on life, which are things everyone should strive for. Kelly shares a story about a significant business deal in his entreprenuerial journey that enabled him to invest into his own life and to start his real estate story. Tune in to learn more about achieving substantial financial success!The first reason to be an entrepreneur 18:15Emotional health and self esteem 25:00Perspective 28:00A true story from Kelly’s life 33:00“As an entrepreneur, you have the opportunity or the chance to earn an outsized return, or you can earn a lot more money than you could earn working the same amount of hours. This means you’re doing very productive work that is very high value and delivers a high financial return to you.” 18:35
49:2323/08/2024
Get to Know Kelly | Balancing Health, Passion, and Business Success
In this episode Kelly Maxwell shares a part of himself and who he is, going into questions he gets asked all the time like if he follows a specific diet, gym routine, morning routine, sports, and just staying in shape to keep his vitality up and continue being successful. He divulges what he’s passionate about in business and life, which includes things like languages and creating businesses that work, helping others to succeed and to experience financial freedom. He dives into cashflow investing vs capital gains investors, what his thoughts are on scaling, and how to really hit it big at the right time and place. Kelly’s goal is to help you grow your business while also making sure you’re able to prioritize the things that really matter so that your business isn’t completely consuming you. “Help make others free, and I will help make you free.”Kelly’s diet and working out 6:50Kelly’s morning routine and hockey 29:30What he’s deeply passionate about 43:00His first real job at a high end hotel 46:30A more sobering experiences 64:25Kelly’s investment philosophy 68:30Significant goals Kelly has made 79:20Religion and his life mission 84:45“It was Bill Gates and he was looking right at me. He was all by himself and he had this command center all set up in his room and had these little extending arms that held these little screens over his desk with all these screens that had different graphs and numbers, and I thought he must have been watching something very important. And he had 2 iphones, which I thought was interesting, being the owner of Microsoft.” 53:34
01:31:5816/08/2024
$1B in Wealth for Franchisees | 2LM Part 2 of 2
Join Kelly for part 2 of his series exploring the benefits of the 2LM franchise system. On this episode of the Second Life Method podcast, he dives into his mission to create $1 billion in wealth for his franchisees over time. He talks about what that means for the franchisees using his system and the details of attaining such a goal. If you've ever considered owning a franchise or simply want to learn more about this side of the business world, tune in to hear what Kelly has to say! You don't want to miss out on the financial freedom that franchising can bring to your life. “Take care of the people first, and then they will take care of you and make your life way easier.”This is about the gritty franchisees and their success 2:15A very differentiated offer 8:00A story from Kelly’s career 20:10Good contracts pay well 31:50When you should get started 35:25“You could see how I easily could have gone for the money and paid the cleaner less, but I would basically be hiring people, because no one is gonna stay when you underpay. The whole point was that it was almost passive income because I chose to pay a little bit more instead of hiring people all the time and squeezing the cleaners like most owners would have done.” 32:05
49:0708/08/2024
5 Ways 2LM Is Unique | Part 1
This episode is part 1 of a 2 part series on Kelly’s franchise system 2LM (2nd Life Method). He talks about the 5 ways in which 2LM is different from other franchise systems and how it can uniqely help you create value and wealth for your life. In part 2, Kelly will talk about his own career, his base business and how he built it, as well as how he became successful. He goes into the details of his story with touching experiences from his life that helped shape him into the business man he is today. There has been a lot of upheaval in the US 3:30Selling his first business and what happened next 5:10The problem these days: financial struggle 9:15The solution 21:20The 2LM commercial cleaning business is not like other businesses 21:35The 2LM mobile app 25:15The commercial cleaning business is considered essential 32:402LM corporate is here to help you until you sell it 37:40Their unique affiliate investment program 41:20“The financial instability really has an effect on your life. The problem is it slowly and insidiously lowers your self esteem. It takes power away from you, it curtails your options. It puts you in a defensive position in life and ultimately makes life hard to pay for, kind of unpleasant to live, and it can be bitter and difficult.” 20:292LM.com
47:4827/07/2024
Exploring Commercial Real Estate | The Path to High Yield Investments
On this episode of the Second Life Method podcast, Kelly dives into the differences between commercial and residential real estate. He talks about the various forms of commercial investing like retail, multi-family apartments, storage facilities, flex space, industrial real estate, and much more. Kelly discusses triple net leases, a.k.a. cream of the crop commercial real estate investing, which should be at the top of prioritites for serious real estate investors. He also delves into financial hacks including the 1031 tax deferred exchange, which is a legal way to defer the tax burden on your profits and continue investing without added tax stresses. Tune in to learn more! Commercial real estate is used for business 2:30Service your debt on time 16:50What I wish someone told me in the beginning 22:10Retail 27:50Triple net lease property 35:15A different network 49:30Take care of the downside 55:30“They’ll only bother you once a month with an envelope in your mailbox with a check for thousands and thousands of dollars, or a transfer to your bank account. So if you can handle that, you can get through having a triple net lease.” 37:47
01:05:1115/07/2024
Remodeling with Italian Luxury | Creating Quality Homes
In this episode of the Second Life Method Podcast, Kelly goes live in downtown Salt Lake City in a condo that has been stripped to the studs and remodeled with a luxury, Italian twist. Kelly speaks with Ryan Fogerty of Berkshire Hathaway Park City to learn about the listing. Ryan and his dad are heavily involved in Utah's real estate scene and the pair have been running that side of things for years. They chat about Park City and how it became the ideal destination for athletes, celebrities, and business people to purchase and build their dream homes. Tune in to learn more! “If you create a quality product, there will always be a buyer for the best.”What made Park city such a big deal 1:50Some of their top of the line products 6:30Most exciting aspect of selling the homes there 8:30Expanding to Salt Lake 11:00Creating a quality product, currently for sale, Panorama 508 15:00Kelly’s brand 18:05Tulum and how it was different 23:00“In these past 4-5 years, you start to see kids that can barely grow a beard. They’re young kids that are up there that are building their own $10 million home to live in, or there are developers up there around our age (30s, 40s) who are building custom homes, and they’re attracting buyers that are of a similar age group. It’s really cool.” 10:12
30:4302/07/2024
Inside the World of Australia’s Franchise King | Building an Empire with Jim Penman
Today we have an extraordinary episode with the largest franchisor of all Australia, Jim Penman, a very talented, unassuming guy. He has 50 different sectors that he’s in currently and over 5,000 franchise units and growing. With the most Australia is the most franchise-rich country in the world with the most franchisees per capita, so Jim has made an enormous name for himself, and at the same time he’s still a very personable guy with a large family. He is an author of several self published books, has a PhD in history, and shared 45 minutes of his time with us talking business, how he started the now ubiquitous and incredibly successful Jim's, franchise network of all the different brands, and how he mentors his different franchisors and franchisees. He puts the franchisee and their success first, providing world class customer service and experience as well as abundant income for his franchises, which he makes a fundamental keystone to his journey. Starting out after school 3:20The importance of efficiency 8:30Growing this franchisee business 12:45A lot of people are very poor at what they do 19:50Potentially turning over the empire and keeping it private 28:30Find Jim online 40:15“They’re so deluded about how good their service is because they don’t check, they don’t ask, they just assume they’re doing good service. So often they’re not and you gotta just constantly, it’s constant satisfaction and drive to say nothing is good enough, and that’s why it’s good for me to see all these complaints coming through because each time I can say ‘Why is this happening? What better training can we do? What better technology, teaching? How can I improve what we do?’” 23:50www.jims.net@thejimpenman
45:0725/06/2024
Unlocking Franchise Success with Giuseppe Grammatico | Financial Freedom Through Franchising
On this episode of the Second Life Method podcast, Kelly meets with a special guest, Giuseppe Grammatico, who is an expert in the franchise space. Guiseppe's a smart guy who has spent time on Wall Street and has been involved with franchising for over 20 years. He shares some exclusive insights about franchisees and franchisors who sell their business to other franchisees. They talk about some of the ways that franchisees can become financially free while also searching for and taking advantage of opportunities within the space like collaborating with other franchisees to optimize their experience. Join us today to hear this expert's great advice and feedback on franchising. About how Giuseppe got into franchising 2:30Educating people 5:20Running the business vs getting someone else 13:30Phantom equity 17:15People often surprise themselves at how capable they are 24:00Affiliate investing 26:00Thoughts from a place of experience 33:00“Just because you buy a franchise, that next business doesn’t have to be a franchise. It could be that startup, it could be real estate, there are so many different avenues. So sometimes people need that momentum and support in launching their business and that helps them scale and actually start up their other non-franchise businesses.” 23:25ggthefranchiseguide.com
40:1018/06/2024
The 10 steps of owning a franchise
Today Kelly talks about the 10 steps to owning a franchise. People have been asking him how to get into this exciting franchising thing, what franchising even means, how to get involved, and how to succeed at all in franchising, so he is taking you through 10 fundamental steps that you can expect when interacting with any franchisor or any successful franchise system that you’re considering getting into. The franchise interview 2:30The FDD (Franchise Disclosure Document) 6:40The material terms 8:40You are prepared to sign the franchise disclosure document 10:50Training 13:45Really get into the training 16:30Launching and doing sales 21:00Execute those initial jobs 23:45Ongoing support 25:10Franchise royalties 29:30Affiliate and real estate investments 31:30Understanding the franchisor 35:30Legal and financial details 43:30“They wanna know if you have what it takes to run the business. They wanna know if you have the focus, the work ethic, and the hustle, the capital to get the franchise business off the ground because it’s tough, especially those first few months of the learning curve. So grit and ethics are important as well. The franchisor needs to know that you have what it takes to make the business a success and to get on the path to more advanced investment.” 2:392lm.com
59:5629/05/2024
Insights on Franchise Investment | Why Buying In is Your Next Move
On this episode of the Second Life Podcast, Kelly dives into all things franchising from both the corporate and the investor point of view. Franchises are extremely common and present an excellent opportunity for entrepreneurs because they attract serious people who want to branch out into the industry. He talks about the entire franchise vetting process and how a good brand's process will be very detail oriented and should align with a potential purchaser on multiple fronts. Franchising allows everyday people to make great money, but that doesn't mean hard work isn't required, and Kelly shares what makes a great franchisee. Tune in to learn more about starting a franchise today!What is a franchise? 2:30Acquiring a franchise 7:35The process 13:00Making sales and brand consistency 18:40Affiliate investment example 27:00“Buying a franchise is buying a modeled business that has been proven and has a proven financial track record. So it’s something that you know will work if you just follow the model. And you’ve both verified that by studying the franchise disclosure document, and the franchisor has vetted you and decided that in your area where you’ll be operating you can indeed be successful.” 15:45
38:1228/05/2024
How to Invest in Tulum's Real Estate Boom, Tulum Part 2 | With Anne-Marie Veilleux, Berkshire Hathaway
On this episode of the Second Life Podcast, Kelly is joined by Anne-Marie Veilleux who is the main broker at Berkshire Hathaway, Tulum. They squash some rumors surrounding owning and investing in Mexico real estate for foreigners, and Kelly shares his experience working with brokers in the region. Anne Marie also answers some commonly asked real estate questions and she shares what the ideal client looks like for working with Berkshire Hathaway in Tulum. A big part of this industry is the construction process and they chat about working with attorneys to navigate the complexities of contracts along the way. Tune in to learn more! Bank trust, or fideicomiso 2:10International brokers in Tulum 7:05Closing a deal and closing costs 10:00The ideal client 14:00The offer letter 17:30Getting out of a deal and starting over 19:55Working in the sale of construction material 23:00The notary system 33:20Get in touch with Anne-Marie 36:20“We hear all the time the North Americans, Canadians, and Europeans, who say ‘Well, can I own a nice beach front property? Can I own property near the beach? Is there some kind of federal zone I can’t build in? Do I have to be Mexican?’ and it’s just so nice that they’ve opened the door to foreign investment.” 4:21
38:3723/05/2024
The New Frontier for Investors, Tulum Part 1 | With Anne-Marie Veilleux of Berkshire Hathaway
Anne-Marie Veilleux joins Kelly Maxwell for this episode of the Second Life Podcast to chat about the emerging market of Tulum. Since 2020, the area has completely boomed with tourism and real estate opportunities, and the world is starting to pay attention. They dive into some of Tulum's new infrastructure projects including the brand new, military-built airport and the artistically curated highway corridor that runs straight through the jungle. A high-speed passenger train will soon be developed along the coast, complete with sleeper and dining cars, putting Tulum high on the tourism map. They also talk about the diversity of real estate investing opportunities in the region, making Tulum the perfect place to expand your offshore real estate portfolio. Tune in to learn more! The Tulum Boom and cheap apartments 1:45Some of the new infrastructure 4:00Meeting people is easy 10:20The attitude of investors now 15:25“It’s a therapy, you know? You come for a week for a retreat in the jungle, but you still have access to a very nice coffee shop, amazing food, if you want to go dancing and spend a little bit more money in the hotels, you’re able to do it. It’s a very nice blend of a little bit of everything that tourism is looking for.” 9:57www.bhhscancun.combhhstulum.com@bhhscancun@annemarie_veilleux
26:4021/05/2024
Mastering Real Estate Investing | A Deep Dive Part 2
Special edition part 2 of 2. Kelly digs into the nuts and bolts of real estate investing. Covers investment strategies in a wide range of asset classes in moderate detail. Features topics discussed in detail like: ROI, Debt, REPS, Taxes, OPM along with 4 key insights into investing, as well as his strategy, stories from his investing career, investment strategies and avenues you can use to put this information into action. Includes key insights, personal experiences, and more. Be sure to listen to Ep. 2 after listening to Ep. 1You will choose how to move forward and accumulate wealth 1:30ROI (return on investment) 34:30Net income ROI, debt or OPM, your real estate team, and taxes 48:35The 4 major ways to earn in real estate 62:10You’re gonna need an attorney, team 88:45Depreciation and taxes 110:20Do your maintenance 130:40A personal example from Kelly’s life 146:40“Don’t let yourself fall in the trap of only shaking the hand of those you think are important, or who can give you or offer you something, or help you level up. There are all kinds of good people from whom you can learn in the world in all economic classes, and so be kind to the little guy, especially when they don’t expect it.” 109:55
02:40:0118/05/2024
Why Franchising? | The Fundamentals of Franchising
In this episode Kelly Maxwell talks about the relationship between the franchisee and the franchisor and the differences of how they might see things. He talks about the legality of the franchise world and the history of the franchise world, explaining how it came about and what some of the brands were that made franchising famous all over the world with some of the most successful systems ever. Kelly gives 5 main points for this lesson, including 1) history and context on franchising, 2) the franchise experience through the eyes of the franchisee, 3) the experience of the franchisor, 4) the franchise relationship between the two and their financial and legal dynamic, and 5) legal and financial details of the franchising business. History and context 3:25A brief history of franchising 9:20Barriers to entry are reducing dramatically 16:40Starting a franchising business 26:00Things you need 32:10“You’re responsible for your own success, whether you’re starting your own business, small business, or you’re starting a franchised business, or you’ve already been successful and you might be getting a little lazy, get your chops back. Your success could be gone tomorrow. Get back in the game, strap back up.” 39:43
47:4608/05/2024
The History of Investing and Real Estate | A Deep Dive
Join host, Kelly Maxwell, for a crash course on real estate investing and financial history, where he talks about running the numbers, calculating the value of investments, and buying your first deal. The goal of this episode is to help you understand our financial status as a society and how the global economy has evolved over the last 250 years. He speaks on different investing scenarios and why investing is so important for building lasting wealth for ourselves and our families. If you're looking to understand money and how value shifts over time, this episode is for you! Tune in to learn more about optimizing your cash flow and to gain a better understanding of real estate investing. The early USA and paying off an expensive revolutionary war 3:20Flowing money in 1791 and the first private bank 8:00Doing business with the government 15:15How the government benefits 23:30The gold standard 29:00Keeping prices and long term interest rates stable 32:30Many young people want something better 50:30Countries of the world coming together over finances 62:30Fiat money 67:40Some of the flawed thinking around real estate and investing 76:20Tenants, termites, toilets, and property managers 98:00Is real estate totally passive? 102:00Build a security for yourself 115:45“Property management companies are these blessed companies, like I said, the good ones at least, who do this for a living. If the property manager does their job correctly, they will take care of your property. This protects your assets and increases your return over time, and allows you to keep investing. It keeps you in the game so you don’t have to be changing toilets and doing all this stuff that you don’t wanna be doing. The property manager will also handle finding tenants and renting out the place for you when leases are up.” 99:46
02:19:5001/05/2024
Welcome to the Second Life Method Podcast
Welcome to the Franchising and Real Estate Second Life Podcast, hosted by real estate investing pro, Kelly Maxwell. What exactly is the Second Life Method? In a financial sense, to live your second life means to have freedom from financial bondage and to gain the confidence you need to boldly pursue your dreams. This method offers a proven path to wealth creation through franchising, real estate investments, and other strategies, aiming to build a fulfilling legacy for yourself and your family. Tune in to learn how you can actualize your financial dreams by tapping into emerging markets and expanding your offshore portfolio today! "When money is no longer an obstacle for you, and you're thinking clearly, you're free."
07:0701/05/2024