Hi! Somebody was asking me if I had $50,000 in my bank account and I had $50,000 worth of debt. Would it make sense to take the 50,000 pay off my debt and start at zero? The answer is, no! And the reason I say that is really depends on what your goals are. If you want to advance yourself, if you want to set yourself up for a cash flow in the future, if you want to set yourself up for residual income business, then it makes a lot more sense to look at investing that 50,000. Investing that sum of money to put it to work. Now, this is the distinction of rich people versus wealthy people. Wealthy people put money to work. They do something today that produces an income forever. And that is my big message to people. You know, we talk about real estate being a wonderful thing.
No, it's the money that real estate produces. That's a wonderful thing. And many people just park money in real estate. Well, I don't. I look at each real estate deal as it's own little bank, as its own little business, and that business needs to produce income and that income can be very significant, particularly if held over a long period of time. Now, one thing that I look at is how do I get on the other side of the table? I don't want to take on an asset that I now have to care for. And that means that I have to paint it and clean it and deal with it. And I have to have a tenant that needs to be managed, and I have to do all these repairs. Now, I'm not looking for that at all. I've been a landlord. I'm not interested. I flipped the script on the whole thing and the people that move into our properties, those folks are looking at what we call the path to home ownership.
They're looking to someday end up with ownership of a property. And so sure enough, as we're working with people, we're dealing with a different mindset. If people that want to have a different life than the one they've got, and they're willing to do some things to get there, for example, they're willing to do some or all of the repairs to the home. Well, that's a great thing that I just passed along to somebody else. And they're happy about it because they get to choose their colors of paint that they put on the walls. They get to choose the kind of flooring that they want and so on. And we don't require that. And we certainly can do the repairs. We just give people the opportunity to do some or all of the repairs and they love it. They don't like it. They love it. And they love our program.
So imagine that you could offer that as well. And this is one of the distinctions of who we are as certified affordable housing providers. We're helping people to end up with home ownership, regardless of credit or financial background. So if I were you, if I had $50,000 in the bank, I'd say, how can I parlay this cash, into something that produces an income forever and paying off your debts, certainly saves you some cash flow, but it doesn't put you in a position to have a better future. And that's what you need to be paying attention to is what are your numbers? What are your goals? What are you trying to accomplish? Well, I've got a gift for you. It's my retirement calculator. Now you could go to www.RetireMeLou.com/calc And you can actually do your own retirement calculator. And this is the coolest thing because you put in your debts as you currently have, and then you put yourself in a position to figure out exactly how much money, because it's going to tell you exactly how much money you have to create in your life, in monthly income, in order to be in a position to retire.
And that is the coolest thing. When you can get clarity about being in a position to retire, it even shows you let's say that you want to be retired in 10 years or in a position to retire in 10 years. Then it will even add on inflation to that number. So you know what number you have to have in 10 years to be in that position to retire. But frankly, I've had people use that calculator to retire in just one year. So there's a lot of different opportunities out there for people that are prepared to invest what it takes and to invest the time and energy that it takes to get there, there's work involved, but it's a marvelous business and it's exactly what we do in our business. So you're literally duplicating what we do and we have licensees all across the country that have become Certified Affordable Housing Providers. I can't wait to share that with you. So check out the calculator, check out Lou Brown and definitely let's take a look at what your future can look like together. Yeah, baby!
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