Everything Life And Financial Freedom: Recent Episodes
Linda McKissack, Jim McKissack
Jim and Linda McKissack, the bestselling authors of "HOLD: How to Find, Buy, & Rent Houses for Wealth," began their journey to build passive income through real estate investing in the early 1990s. They did this after plunging $600,000 in debt! This podcast shares stories and resources on how anyone can follow a similar journey to financial freedom and build an amazing life for themselves and their family.
In this episode of "Everything Life and Financial Freedom," hosts Linda and Jim McKissack discuss the pros and cons of being your own property manager. They share personal anecdotes, practical tips, and valuable insights to help you weigh the pros and cons effectively. From the potential time savings and stress reduction to the financial implications and the importance of finding the right property manager, Linda and Jim provide a comprehensive guide.
Tune in as Linda and Jim unravel the complexities of hiring a property manager, empowering you to make informed decisions on your path to financial freedom through real estate.
Resources:
Freedom Number Worksheet: https://everythinglifeandfinancialfreedom.com/worksheet/
In this episode of Everything Life and Financial Freedom, hosts Linda and Jim McKissack delve into the secrets of achieving five-star reviews for vacation rentals. They are joined by property manager Michelle Torres who has played a pivotal role in transforming the McKissacks' cabins into highly-rated retreats. Michelle shares valuable insights on the importance of communication, maintaining property standards, and addressing guest concerns promptly. The hosts explore the impact of reviews on potential bookings and discuss the strategies Michelle employs to turn negative experiences into positive outcomes.
Discover the art of getting rave reviews for your vacation rentals as Michelle talks about communication tactics, property maintenance, and handling challenging situations with finesse. Tune in for tips that can elevate your property's reputation and attract enthusiastic guests eager to leave stellar reviews.
Resources:
Freedom Number Worksheet: https://everythinglifeandfinancialfreedom.com/worksheet/
The McKissacks' cabins at Branson Vacation Retreats: http://www.BransonVacationRetreats.com
In this episode, hosts Jim and Linda McKissack interview real estate developer Zach Williams. Zach shares his story of growing up in Kentucky and getting into real estate investing at a young age through flipping houses. He discusses some mistakes he made early on and how he rebuilt. Zach now focuses on developing self-storage facilities. He explained his process of finding land, doing due diligence, raising funds from investors, developing the property, and eventually selling once stabilized. Jim and Linda ask questions to get more details about Zach's deals, returns, and how he works with lenders. Zach also discusses the self-storage market trends and how he finds mentors to help guide his business. Check out this episode to see how Zach shares his journey of creating an extraordinary life in real estate development.
Resources:
The Freedom Number Worksheet: http://everythinglifeandfinancialfreedom.com/worksheet/
HOLD: http://amzn.to/3TqhnfI
The Millionaire Real Estate Agent: https://amzn.to/3GH55rN
In this episode, hosts Linda and Jim McKissack share their insights on teaching kids about money and investing. Drawing from their own experiences, they highlight the importance of open conversations about family finances and stress the need to instill financial literacy early on. The couple discusses practical methods, such as playing financial games and even involving kids in real estate ventures. Tune in for a wealth of wisdom and discover how these principles can pave the way for a future of financial independence and generational wealth.
Resources
The Freedom Number Worksheet: https://everythinglifeandfinancialfreedom.com/worksheet/
Cashflow Quadrant Game: https://amzn.to/47Fktkj
Book Rich Dad Poor Dad: https://amzn.to/3QTdLzS
Win the Day by Mark Batterson: https://amzn.to/3N7sBlg
Dave Ramey’s Total Money Makeover: https://amzn.to/3uAnWSK
The Wealthy Barber: https://amzn.to/3RjCLlu
Dream Giver: https://amzn.to/3sVnAFA
Christmas Jars: https://amzn.to/4a1HGyW
In this episode of the Everything Life and Financial Freedom podcast, host Linda McKissack interviews Frank Klesitz, CEO of Vyral Marketing. Frank shares his various income and wealth strategies that led to financial independence. Listeners will learn how Frank realized at a young age that "the money is in selling the service, not providing it." Focusing on this principle and lowering his housing costs set him up for success.
Listen to find out the key lessons Frank learned around having options, passive income, and knowing when it's time to simplify for peace of mind. You'll walk away motivated to reevaluate your own expenses and systems for growing income using strategic income and wealth strategies discussed in this episode.
Resources:
Freedom Number Worksheet: http://everythinglifeandfinancialfreedom.com/worksheet/
How to Master the Art of Selling: http://amzn.to/3Mxq6s7
Rich Dad Poor Dad: http://amzn.to/3MBqu93
Cashflow Quadrant: http://amzn.to/3skSs2e
Jim highlights the benefits of registering as a professional at Home Depot and Lowe's, such as discounts on gas mileage, bid discounts on bulk purchases, and exclusive in-house deals for Pro Rewards customers. The conversation delves into specific strategies, like negotiating prices based on the duration of products on the floor, and the importance of building relationships with store employees. They also touch on the significance of having a business entity for these accounts and the perks of credit card limits and employee cards. The McKissacks provide valuable insights for investors looking to maximize their savings and create successful real estate ventures.
🎧 Episode Page: https://everythinglifeandfinancialfreedom.com/home-depot-tips-and-tricks-for-the-real-estate-investor/
📕 Freedom Number Worksheet: http://everythinglifeandfinancialfreedom.com/worksheet/
Jim and Linda have been investing in real estate for over three decades. They give advice for those wanting to start investing in real estate, including answering the common question, “How much money do I need to get started?”
The McKissacks share how they got started when they didn’t have much money. Jim and Linda explain why it’s important for investors to determine their Freedom Numbers. And they share why a real estate investor needs to be obsessed with investing, and not just interested in it.
They talk about the two types of motivation, why it’s crucial that an investor’s significant other gets on board with investing, and why it’s important that everyone has a form of passive income.
Get the Freedom Number Worksheet here: https://everythinglifeandfinancialfreedom.com/worksheet/
In this episode of Everything Life and Financial Freedom, hosts Jim and Linda McKissack discuss the current VRBO market. They talk about their journey and how they got started with VRBOs. They share why the VRBO market is currently down and why they believe this market will come back. Jim and Linda also explain why this is a good time to learn about VRBOs, and they give advice on where to find properties for those wanting to get into the VRBO business.
Freedom Number Worksheet
Jim talks about the systemic real estate issue going on in the country right now. He shares how, unlike in the 90s when real estate prices dropped 30-40%, current real estate prices are staying pretty tight. And while most people aren’t moving unless they have to, Linda reminds us that there will always be the Ds: death, divorce, drugs, etc., which cause people to move.
Jim shares a real estate trick to determine what base price you should stay below when investing. And, Linda builds a case for why it’s never a bad time to invest in real estate. As Linda says, “You’ve just got to think outside of the box.”
Pres McKissack (Jim and Linda’s son) and Nick met in Montessori school when they were three and have been friends ever since. Nick talks about the influence that both Jim and Linda have had on shaping his real estate investing career. Nick, a young investor, purchased his first investment property when he was 25 or 26 years old. He currently has five rental properties and has made over $150,000 in Keller Williams’ profit share program.
Jim shares the one common denominator that all investors need to use wisely. And he also talks about what makes Nick’s story unique. Nick shares some of his lessons learned and great ways to get started in real estate investing. He gives advice on overcoming investing obstacles and where to find the best real estate deals. Jim shares why he thinks we are entering a great market for the investor.
Episode Resources:
- Freedom Number Worksheet: http://everythinglifeandfinancialfreedom.com/worksheet/
- Rich Dad, Poor Dad: http://amzn.to/45LGzQT
- The Millionaire Next Door: http://amzn.to/3L11QxS
In this episode of Everything Life and Financial Freedom, Jim and Linda McKissack speak with one of their dearest friends, real estate investor Tony DiCello. Throughout the episode, Tony shares a great deal of knowledge about real estate investing with partnerships and the importance of trust. He even says, “When you're looking for a partner, don't think about the real estate, think about the relationship and the trust in the relationship before you go looking for real estate together.” Tony also shares the two things to look for when buying real estate out of state. He explains the best way to get into the real estate investing business. And he talks about his mindset on investing today at his age compared to his investment strategy when he was younger. And in this conversation, Tony details an investment strategy that leaves Linda and Jim saying, “That’s a great idea. That’s one we haven’t heard of yet!”
Jim and Linda McKissack welcome long-time friend and banker Tony Clark to Everything Life and Financial Freedom.
In this episode, Tony talks about what banks look for in real estate investing. He shares what new investors need to know and be prepared for before they walk into a bank. Jim, Linda, and Tony discuss why community banks are the backbone of our economy and what that means for real estate investing. And Tony gives advice to those wanting to build wealth and have financial freedom.
Tony brings decades of banking knowledge to this in-depth episode. Be sure to check it out!
Resources:
- Freedom Number Worksheet
- HOLD: How to Find, Buy, and Rent Houses for Wealth
On this episode of Everything Life and Financial Freedom, podcast hosts Jim and Linda McKissack get to speak with Mary Boccardo. Mary discusses her career as a dietician in short-term care and long-term rehab and the lessons she learned there as well as her journey investing in real estate and now owning a microgreens business.
After listening to Mary's story, you'll see why Linda says, "That proves a point that there's always an opportunity out there." And why Jim says, "That's what great investors do. They see the opportunity and then are willing to pull the plug and make it happen."
Be sure to listen to this inspiring episode on recognizing opportunity!
Episode Resources:
- Freedom Number Worksheet
- HOLD: How to Find, Buy, and Rent Houses for Wealth
Klarissa talks about her experience with apartment syndication investing. She also goes into depth about investing in debt validation. Klarissa gives many great tips on how we can get started with these types of investments.
Linda says that back when she and Jim were trying to get out of $600,000 in debt, one of the things she kept hearing from people was to "Be the bank." And in this conversation, Klarissa explains how she is her own bank. You'll also hear why Klarissa chose to buy out of state, as well as her advice for new investors.
After listening to this episode, you'll see why Linda says she was "Awed" by Klarissa Skinner.
Resources:
Freedom Number Worksheet
The Psychology of Money: Timeless lessons on wealth, greed, and happiness
The Lifestyle Investor: The 10 Commandments of Cash Flow Investing for Passive Income and Financial Freedom
Think Like A CEO with Gary Keller & Jay Papasan on Apple Podcasts
In this episode of Everything Life and Financial Freedom, Linda and Jim McKissack welcome guest John Clidy, author of Leaving 6 Figures.
As a state trooper, just three short years shy of vesting, John walked away from a 6-figure salary and lifetime government pension to pursue real estate. He shares his story of how he started with a small real estate investment and turned that into a multi-million dollar net worth. He then talks about his $100,000 day and the main thing he has done when pursuing financial freedom that has had the biggest payoff.
Episode Resources:
- Freedom Number Worksheet: https://everythinglifeandfinancialfreedom.com/worksheet/
- Leaving 6 Figures: http://amzn.to/3NgorqD
- Hold: How to Find, Buy, and Rent Houses for Wealth: http://amzn.to/3XfaI7U
In this episode of Everything Life and Financial Freedom, Jeremy Parker talks about his real estate investing journey and what caused him to jump into creating financial freedom for himself.
Jeremy talks about his analysis paralysis when dealing with too much information, and how he overcomes it. He also shares how he learned how to run an Airbnb and the strategies he used when he was just getting started.
Linda makes note of three points from listening to Jeremy: 1.) Who you hang out with matters, 2.) There’s always someone willing to partner with you, and 3.) We learn in motion; the best thing we can do is get in motion.
Throughout the episode, Jeremy talks extensively about being ready when opportunities come. He says, “If you put it out there that you’re open for opportunity, then opportunity will find you.” And, he shares the biggest impact that investing has made for him: the ability to control his own schedule, his own life, and his own decisions.
Resources:
- Freedom Worksheet: http://everythinglifeandfinancialfreedom.com/worksheet/
- Tax-Free Wealth: http://amzn.to/3Cd3pnD
In this episode of Everything Life and Financial Freedom, Jim and Linda McKissack talk about the difference between good debt and bad debt.
In this money-based episode, they discuss ways you can find money for real estate investing. Jim then gives his opinion on hard money lending and the reason someone would use hard money. And they talk about why you would use a line of credit for real estate investing.
They cover the things that you should get paid off before you start investing, and they give a warning to never get over-leveraged. Finally, they give recommendations for steps that those who are overwhelmed with debt can take.
Jim and Linda McKissack speak with long-time friend Rob Chevez, CEO of The CAZA Group and founder of the GRID Investor Network, the largest agent-led real estate investment network in the world. In this episode, they talk about investing with expansion teams as well as Rob's investment journey and how he creates financial freedom.
Rob shares the advice Linda and Jim gave him a decade ago that he took to heart and that helped him in his real estate career. He also shares what to do for opportunities to come your way. Rob details some of the mistakes that he and others have made that investors can learn from.
The group talks about the importance of relationships. As Linda says, “If you’re hanging about people who aren’t doing investing, odds are, you’re not going to either.” You’ll also hear what gives Rob goosebumps and what he considers your best ROI. Rob shares the one thing he wishes he had done sooner. And, Jim shares the number one reason people fail in real estate.
In this episode, Jim and Linda McKissack answer, “Should I flip or hold properties?” They share that they are definitely pro-hold, yet they are not averse to flips.
Jim and Linda discuss the reasons that they have started to flip a little more in the last few years. Then, they explain the difference between earned income and passive income and what it takes to build wealth.
Linda also says it’s important to ask yourself these questions when considering whether to flip or hold: Where are you in your real estate journey? What are you doing to put away money for buying properties to hold? Do you need to flip a few on the front end because you need extra cash and buy more?
Finally, they share the reasons you would want to hold properties.
Jim and Linda McKissack answer a listener's question: "Should I wait or buy a house during a seller's market?"
Jim notes that it depends. It's important to have a system that can help you determine if it's a good deal or not. Linda reiterates that they've never lost money on a house that they've purchased and held, but they have lost money on houses they've flipped. They talk about how shifting your market of the moment opportunity based on what the market is doing--and that the nightly rental business is really hot right now. They share that there are a few opportunities through the four D's: Drugs, divorce, death, and distress. They recommend to not buy on emotions and say that "Deals are deals, no matter what the market is doing."
RESOURCES:
- Hold: How to Find, Buy, and Rent Houses for Wealth
- Building Wealth One House at a Time
- "Motorboat Mike" Michalowicz's book Profit First
- Freedom Number Worksheet
- Everything Life & Real Estate Episode with Motorboat Mike
CONNECT WITH THE PODCAST:
- Linda’s Instagram
- Linda’s Facebook
- Podcast Website
What Jim and Linda McKissack have found over time is that one person in a couple tends to be risk averse. Linda talks about how most couples don't sit down and envision what they would like their lives to look like in 10, 15, or 20 years down the road. When couples or significant others do that, it helps put things in perspective while also allowing them to work together better toward a common long-term goal.
Additionally, Linda and Jim talk about working within your individual strengths in order to reach your goals. Linda shares how she used a dream board as motivation, while Jim jokes that every time Linda put something new on the board he'd get worried. Jim shares that we've all been kicked in the gut, but it's not whether you get kicked down it's how fast you get back up. Finally, Linda and Jim touch on the importance of working together to find your Freedom Number.
In the third episode of Everything Life and Financial Freedom, Jim and Linda McKissack dive into some of the main fears and obstacles people have that hold them back from taking action. Some of the fears and obstacles covered in this episode include the fear around money, getting stuck in the “what ifs,” thinking there is not enough time, and the fear of failure.
Jim and Linda then give action items for overcoming these fears and obstacles. They discuss making a list of your obstacles, as well as looking at your “have to” and your “why.” Linda also shares her “why” for wanting to donate $1 million to the Salvation Army.
As in all episodes of Everything Life and Financial Freedom, you’ll find nuggets of wisdom and the principles that Jim and Linda have adhered to that have allowed them to go from $600,000 in debt to finding financial freedom.
📕 Download the Freedom Number Worksheet: https://everythinglifeandfinancialfreedom.com/worksheet/
Connect with Linda:
- Linda's YouTube Channel: https://www.youtube.com/c/LindaMcKissack411/?sub_confirmation=1
- Linda’s Instagram Page: https://www.instagram.com/mckissacklinda/
- Linda’s Facebook Page: https://www.facebook.com/mckissacklinda/
Jim and Linda McKissack answer the following question: Why is financial freedom important? They talk about how very few people become wealthy, and the steps you can take to be a part of that small group.
Jim shares the importance Cash Flow Quadrant had on the couple's wealth-building journey, how it opened their eyes to the two types of income--earned income and passive income--and how the concept changed how they viewed money.
Linda also briefly touches on how they started their journey into real estate investing while still $600,000 in debt. She talks about the importance of having a plan and finding your Freedom Number. They talk about how it's simple to do what they did, but that doesn't mean it's easy.
Download our Freedom Number Worksheet: everythinglifeandfinancialfreedom.com/worksheet/
Episode Resources:
- Cash Flow Quadrant: amzn.to/39WmG20
- The Millionaire Next Door: amzn.to/3lH4SKM
- The Wealthy Barber: amzn.to/3sUvEmT
- Thou Shall Prosper: amzn.to/3amxGWz
- Rich Dad Poor Dad: amzn.to/3Ghj5az
- Win the Day: amzn.to/38J1hsS
- Profit First: amzn.to/3wJf9wg
In the opening episode of Everything Life And Financial Freedom, Linda McKissack and Jim McKissack share their story of going from $600,000 in debt to complete financial freedom. When the Texas economy crashed in the 1980s, the two were suddenly plunged into debt when Jim was forced to sell his business for $600,000 less than he owed.
They talk about how moments like these change the trajectory of your life, and how many people may be having a similar life-changing experience with Covid. Linda talks about how that moment led her into real estate, and led the couple to become real estate investors.
Jim and Linda briefly discuss the importance of financial freedom and why it matters in this inspirational and, at times, touching story. And the two talk about how they are just normal, average people, and share that you too can create a life of financial freedom!
Download the Freedom Number Worksheet.
For a transcript of the episode, resources mentioned within, and more, visit the episode page.
Hi and welcome to Everything Life and Financial Freedom. I’m Linda McKissack, the co-author of the book HOLD: How to Find, Buy, and Rent Houses for Wealth.
I’m excited that you found this podcast, and I wanted to share a little of what this podcast will be. We’re going to share with you how an average couple — my husband Jim and myself — came from $600,000 in debt to over $5 million per year in passive income.
Just like you, we’re not an Elon Musk or a Jeff Bezos or a Steve Jobs. We’re just people who wanted an above average life. So, how do you go from $600,000 in debt to financial freedom? Where you can get freedom of your time, money, and relationships?
Well, that’s what this podcast is all about!
So I hope that you’ll join us where we talk about Everything Life and Financial Freedom! We can’t wait to share future episodes with you and we’ll see you over at the podcast.
Tune in wherever you listen to podcasts. We’ll have new episodes out each week!
Connect with the Podcast & Linda McKissack:
- Podcast Website
- Freedom Number Worksheet
- Linda’s Website
- Linda’s Instagram
- Linda’s Facebook
- Linda’s YouTube