How to get Rich: ZERO to $40 Million Dollars.

hey everyone me kevin here we're about

to get lazy and learn about building

wealth let's go now in case you don't

know me my name is kevin i go by meet

kevin i make youtube videos but before i

ever made youtube videos i became a real

estate millionaire at one point having

up to 26 million dollars of real estate

the same time as having an over 20

million dollar stock portfolio and folks

now we're going to talk about building

wealth and in this video you're going to

get all of my insights into exactly how

to do that in a new burst pro format

noobs do stupid things pros do smart

things let's get started the first thing

that noobs do

is when it comes to value they have a

mindset of you owe me that is my boss

owes me a wraith and i'm owed

a cheaper house or cheaper rent a pro

says no i owe you i owe society and i'm

gonna work harder to make a good reality

happen then we have age the noob says

well i'm only 18. why do i have to worry

about this or i'm only 30. why do i have

to worry about this right now

or i'm making more money than my friends

so i'm good why do i have to worry about

trying to make more money the pro says

i've got to always figure out how to not

stagnate how can i make sure i can make

more money next year than i did this

year maybe that means getting a license

in lending or accounting or becoming a

real estate agent or a

series 65 registered investment advisor

license so that way you are always

growing and building your resume that's

what the pro does the noob says no i'll

worry about that in the future then when

it comes to risk the noob of course says

what if i fail

the pro says what if i don't try the

noob says i've always gotta have an

emergency fund around because you know

what if an emergency comes up the pro

says no no no if i have a bunch of money

sitting around in a savings account i'm

gonna feel like i'm richer that i can

spend more money and i will end up

spending more money on stuff i don't

need or stuff i don't want or a fancier

car payment or whatever and delay my

house even longer because i have all

this money so why wait the pro says

real emergency funds are your

opportunity to break the glass and

actually do something that hurts to get

access to that money you actually have

an emergency it should be like breaking

glass so what's the difference here well

the noob leaves their money in a savings

account the pro puts their money in an s

p 500 or total stock market index fund

and leaves that money available as their

emergency fund because they realize the

odds are the market will grow more than

it will ever fall and even if the market

fell 50

they'd still have a 50 emergency fund

available the pro says hey i'll just

assume that my stocks are worth 50 of

whatever they actually are and then i'll

have

my efforts dedicated to getting a larger

emergency fund now when it comes to

passive income the noob says i need

passive income so my dinner tonight is

paid for and ah this vacation is brought

to me by all the money i just made on my

dividend stocks the pro says why would i

try to have passive income when i'm

trying to build wealth passive income

gets taxed in the year that i make it

when i take dividends i get taxed

my goal is to delay my taxes to when i'm

retired so that way the amount i'm taxed

is the lowest possible percentage and

the best way to avoid passive income

taxation is by not focusing on passive

income it's by focusing on passive

wealth passive wealth is the

appreciation of real assets like stocks

or real estate as the value of your

assets goes up you don't pay anything in

taxes until you sell speaking of stocks

the noob has absolutely no idea who they

are that is they don't know if they're a

day trader a swing trader a short-term

options trader or a long-term diamond

handler they're clueless a pro says

i have my portfolio allocated to be

let's say 80 percent long 20 percent for

swing trades and maybe within that 20

one to two percent speculation just for

an example a pro knows about upside and

downside hedges uh for example a pro

might say i've got three million dollars

to invest in the market and i'm feeling

fomo that i want to go all in right now

but they might say you know what i'm

going to take a small upside hedge a

small out of the money call option to

prevent me from going all in if the

market goes up the out of the money call

is my upside hedge if it goes down i'll

lose on the upside hedge but i'll make

money investing the other cash i had at

a lower amount now look we've got a lot

more new vers pro things to talk about

in this video but i just got to say some

things are going to be a little tricky

you're going to hear things that might

not make the most sense but there is a

ton of extra detail and all of that

extra detail whether it's about real

estate or stocks investing building

wealth whatever is found in my programs

linked down below and you can use coupon

code cyberkevin to get the best pricing

on my programs on building your wealth

stocks and psychology of money real

estate investing real estate sales

making youtube videos property

management you name it all of the

information is in detail in the programs

link down below but let's keep going on

newbert's pro back to new burst pro a

noob looks at stock price and the value

of their portfolio and gets nervous when

they see red and happy when they see

green

a pro

gets happy when they see their quantity

of shares owned going up and sad when

the quantity of shares owned goes down

see this is the difference of p's and

q's noobs just care about p what's the

price of my stock today what's the value

of my portfolio today it's like if they

have a real estate property they want to

see it on zillow every single day

the pro says

i know i have a good investment and in

the long run it will be worth more my

goal right now isn't worried about the

day-to-day fluctuations it's worried

about quantity getting more properties

getting more socks now most noobs in the

stock market or even in real estate want

to get in because prices have gone up

how you doing

it's going it's going slow

you know it's lazy

thank you the pro realizes that there

can be macro economic cycles where there

are better opportunities to be patient

with cash than to buy when there is peak

speculation euphoria or often recently

in stocks called momentum be careful of

investing when momentum is at peak

i gotta get some momentum

the noob doesn't understand eudaimonia

the ancient greek definition of the good

life the noob says

if i can't be the best i won't even try

i'll just get by

the pro doesn't need to be the best at

everything but realizes they could be a

great

investor they can be a great real estate

agent a great cpa a great investment

banker they don't have to be the best

computer programmer they just have to be

a computer programmer and do their best

that they can do doesn't mean they won't

be the best in the world and see that's

a difference the noob fears not being

the best they don't understand that

eudaimonia is about the balance of life

having a balance of being good at a lot

of things but not being horrible at one

thing or the absolute best at another

thing balance the noob goes to universal

studios and says i'm gonna get the

cheapest ticket and i'm gonna spend

three hours in line to go on one ride

the pro says

i'm on vacation with my family i'm going

to maximize our opportunities to have a

great time together

and we're gonna get the fast passes

we're gonna spend a little extra to make

sure we can share the best experiences

together

see that's because the noob cares about

things the pro cares about experiences

things are relative oh you have a better

car because statistically on paper your

car is faster or more expensive the pro

says i went to a vacation in hawaii

how are you going to compare that how

are you going to compare how good of a

time i had in vacation on my vacation

versus your vacation you can't

experiences are where you spend money

not on stuff which actually brings up

guns and butter noobs invest in butter

butter are things that go down in value

over time oh i'm gonna get an apple

watch oh i'm gonna get a new outfit oh

i'm gonna get a fancy refrigerator all

these things go down in value over time

i'm gonna get a new sofa five thousand

dollar sofa because because maybe it'll

last a year longer and they justify

buying butter expenses with

rationalizations that are nonsense the

pro says

i'm gonna get a 500 couch and when i

need to buy another one in three years

i'll do that but in the meantime i'm

gonna invest the rest of the money

because the pro knows you always spend

the vast majority of your money on

things that go up in value real assets

stocks real estate everything else is

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the noob thinks about real estate and

first things oh i gotta have 20 down i

don't have time to get to 20 down i got

bills to pay

the pro says i'm not worried about how

much i'm putting down

i'll put down three percent but it's

going to be three percent on a home that

i'm going to live in for the first year

and maybe i'll rent it out in the future

but it's going to be three percent down

on a good deal here's why the noob says

oh my gosh if i only put three percent

down i'm gonna pay so much money and

interest over 30 years the noob doesn't

understand the time value of money that

the investment grows more than the net

so the noob looks in a 400 000

neighborhood and says well i need 20

down so i'm gonna have to save up 80

grand plus closing costs this sucks but

i'll be able to avoid mortgage insurance

and i'll be able to spend less debt over

30 years because they don't understand

the time value of money the pro says i'm

going to go in that same 400 000

neighborhood i'm gonna find that three

hundred thousand dollar fixer-upper i'm

gonna go with a three and a half percent

down renovation loan on this property

i'm gonna write a beautiful letter to

the sellers and i'm gonna pay more than

the cash buyers and what am i gonna do

i'm gonna buy that house put my three

and a half percent down after i fix it

up with the extra maybe 10 percent of

money you set aside 30k or so you know

refinance that property you're going to

get rid of your mortgage insurance your

fha lifetime permanent mortgage

insurance and now you're going to have a

400 000 property that you spent

somewhere around 40 000 on which is less

than half of what the other person spent

and you now have an equity position of

over eighty thousand dollars plus when

you refinance you're taking out the

difference between your first loan in

the 280s and 320 which is almost like

getting a refund of thirty thousand

dollars on top of that so it's almost

like you got this property for ten

thousand dollars down and people say

it's not possible

i do it all the time

see the reason is noobs care about white

picket fences and remodel dream homes

they're lifetime forever homes pros look

and insane that's bullcrap there's no

forever home

what i want are as many fixer-uppers as

i can get my hands on wedge deals below

market deals where i can build equity by

doing simple things like rental grade

remodels ikea kitchens paint carpet why

are you spending 50 grand on a kitchen

you've ever gotten a quote for a kitchen

and somebody said it's gonna be 50 grand

you'll waste the money but see the noob

doesn't know because the noob doesn't

even know how to communicate they talk

to contractors they say i need this done

i need you to do this i'll have you do

this

the pro says

hey would you mind helping me out i'm on

a shoestring budget

i gotta find a way to get this rent

ready the noob doesn't understand the

basics of communication the new doesn't

understand that people don't want to

help somebody who's mean and demanding

and grinds on price

the pro realizes hey i want you to make

money but i want to make sure we're on

the same page this is a rental grade

remodel what can we do to save money so

that we both make money the noob thinks

that means you're a slum lord but the

noob doesn't understand there's a

difference between brand new and the

highest end thing you can buy and what's

safe

the pro investor invests in things that

are safe

and quality at a reasonable price

the noob spares no expense

on their dream home and everything else

because they don't know that they don't

even know the noob doesn't understand

economics and says prices are going up

because corporations are greedy

the pro realizes that prices are going

up because more people are demanding the

same things that i want and therefore

prices are going up the same is true in

politics the noob says houses are

expensive because greedy wall street

corporations are buying up all the homes

oh my gosh it's always the greedy wall

street corporations might have nothing

to do with me it's them it's always

somebody else's fault well when you

point the finger three tend to point

back at yourself so when politicians

point the finger at greedy wall street

corporations they don't even realize

that they're the reasons america can't

build enough homes because our

bureaucratic governments make it too

difficult to provide the free market

supply of homes that we need

and that is a problem decades in the

making politicians won't realize it

because it's unpopular to say the truth

it's much more popular and applause

worthy to say it's the greedy wall

street corporations

and then nothing ever changes

because they're not actually solving the

problem

and see that's another thing between

noobs and pros noobs want to go in front

of a group of people are on social media

and do something that'll get a lot of

views that'll get a lot of attention

that'll get a lot of applause and cheer

they're afraid of social ridicule pros

will say no we need to get to the bottom

by our first principles of what is

actually factual and right and what is

the real solution

expensive houses build more homes how

can we build more homes we streamline

regulation to make sure we have a proper

balance of speed and safety but that's

not popular aoc can't go on twitter and

say hey we're going to fix the housing

crisis by streamlining building codes to

make things easier to make sure we can

get more affordable housing it's much

more popular to blame those greedy wall

street corporations and see that in

communication is the difference between

a noob and a pro and it doesn't just

apply to politics it applies to

everything look at the folks around you

who say the most applause worthy things

are they simply restatements of claims

are they providing actual facts and data

noobs say you know what if i can lock in

a profit and if i have to pay taxes

that's okay

pros will always position to make sure

they can lower their tax basis over the

long term and here's a way you could do

that with housing the pro realizes that

they may own real estate that today is

worth a million dollars and in the

future is worth 20 million dollars

and if they decide that when they're 90

years old they've had it with tenants

and toilets and they're gonna sell their

real estate

they'll probably pay taxes on

the full 20 million dollars via

long-term capital gains thanks to

longer-term depreciation don't so much

worry about that just know they'll

probably pay taxes on the full 20

million value of their portfolio that

would work out to about four to five

million dollars in taxes depending on

the long-term capital gains rate in that

state at that time the pro realizes wait

a minute if i'm 90 and have a 20 million

dollar taxable portfolio and i happen to

die in an accident with my spouse

well the next day my children can sell

this 20 million portfolio with a

stepped-up tax basis completely tax free

now of course once you get above this

sort of threshold around 20 million

dollars for a couple you start running

into estate tax issues but trust me if

you're at that point you got other

things to worry about the noob looks at

their 401k and always makes sure they

take every single percentage of match

that they can get from their employer be

it 3 10 50 100

they max

their match in their 401k every single

year and every single year they also

maximize their roth because the roth

grows tax-free in your account over your

lifetime but the pro also make sure to

prioritize real estate before focusing

too much on a roth because here's

a way we're going to end this if i had

put all my money into the stock market

my spouse and my money eighteen 000 at

18 and 19 years old our money invested

in the s p 500 over the next 10 years

would have tripled we would have been

pro investors we tripled our money in

index funds oh my gosh we now instead of

having eighteen thousand dollars have

fifty six

but what did we do instead

we bought a wedge deal because we

focused on wedge deals with that money

instead more principles of course that

you will learn in all the programs

linked down below on building your

wealth we were able to turn that

eighteen thousand dollars not into fifty

six thousand dollars or a triple we

turned that eighteen thousand dollars

into a more than twelve x

in one and a half years two hundred

fifty thousand dollars in one and a half

years and that's because when you're

starting out with a portfolio of less

than five hundred thousand dollars your

goal should always be real estate first

stocks second

none of this information the video is

financial advice it's for entertainment

purposes only after all i'm just a

youtuber floating around in a lazy river

with shorts that are way too short

but if there's one thing i can tell you

it's don't be a noob and learn how to be

a pro link down below