[00:00:00] Speaker A: As the founder of the company can go and oversee everything and be involved and so forth. Then you could focus more on how do I find the first property that hopefully is successful, exit or becomes cash flowing. I can only invest in places that have affordable, well performing properties. Now we have investment company, what I call turnkey provider. They put it on their basically website as a property for sale because we know who they are. We're going to say okay, we are willing to buy this house but number one, we want a one year warranty on everything that you touched in the renovation. What I'm helping people with is not just to get all the different things that you kind of want to know to be a successful investor, but what I also do is helping you to adopt and live into a mindset as the king or queen of your own empire.
[00:00:48] Speaker B: Welcome to the entrepreneur's Lockbook podcast. I'm your host Zack Bernard. You can find me on social at Zack B. In each episode, I bring on experts from various industries for you to learn about the strategies and insights driving extreme business growth. The Entrepreneurs Logbook podcast is sponsored by wefeuture pr where we're dedicated to helping entrepreneurs build their thought leadership and business by booking them on podcasts and launching their own podcasts. Today we're joined by Axel Mayhofer, founder of Agil Wealth Grower, an educational organization that helps everyday professional build financial freedom through residential real estate investing and passive income strategies. And funny enough, Axel is actually a former Air Force officer turned real estate investor who discovered the power of real estate during that green great recession. And after successfully completing a complex 1031 exchange that transform his financial future, he developed the ideal wealth career system to help others do the same. Escape the time for money trap and achieve economic independence through strategic real estate portfolio building. His unique approach combines his military disciplines with his deep real estate expertise to guide those clients towards what he calls the time freedom point, where passive income from assets allows you to take complete control over how you spend your time here. Axel, it's great to have you on the show. Welcome.
[00:02:07] Speaker A: Yeah, thanks for having me, Zach. Thank you.
[00:02:10] Speaker B: Cool. So how I always like to like start these podcasts. I mean, actually you've obviously been in the space for like quite a while here, so I, I'd love to hear if you actually rebuild your company from scratch again, knowing everything that you know, what's like the one thing that you would implement from day one that a lot of entrepreneurs get wrong?
[00:02:29] Speaker A: Well, I think I emphasized initially way too much on the assets or you can call Them the properties, rather than really building a strong team and a strong network.
[00:02:41] Speaker C: Right.
[00:02:41] Speaker A: Especially in our industry, it's very important if you want to help other people reach the time freedom point, as you mentioned in your intro, then it's not just I can find a good property that is performing well and then we go with that property and I can show somebody why it is a good property versus 10 others that are not. But then as soon as you were at that point, you need the whole network of relationships. You need inspectors and lenders and, and appraisers and banks and property management and all kinds of other things. And I only realized it when I turned it into a real business because before I did it, I could iteratively do it whenever I had time. It was just for me, basically for our family, one property at a time.
But from a business perspective, I would say it was a mistake not to build the network first and then bring in people and, and help them to actually acquire properties.
[00:03:37] Speaker B: Interesting. So starting from like building the network first before actually like going for the properties and like, do you feel that you perhaps wouldn't have been able to build that same network if you like started like the opposite, as you mentioned, if you try to build a network first before going through the properties? Because I feel if you go for the properties first, you'll learn as you go, you'll build a network as you go. But if you don't, then it might be a bit challenging. But I'd love to hear your take.
[00:04:02] Speaker A: Well, I see the thing about it is if you see yourself building a business where everything that is related to the business is basically relatively in your neighborhood, in your general area of operation.
[00:04:14] Speaker C: Right.
[00:04:15] Speaker A: If I were to say, okay, I want to do a real estate investing or flipping business, or building business, contract business, real estate repair business, anything like that, where I as the founder of the company can go and oversee everything and be involved and so forth, then you could focus more on how do I find the first property that hopefully is successful exit or becomes cash flowing or stuff like that. Keep in mind with the idea wealth grower. When I started, and it's still predominantly the case today, we have clients and I was basically my first own client. And where I was living and working in a relatively expensive area.
And the only way to build this time Freedom Point portfolio was to go far away from where I was living. I was living at the time in Santa Barbara, California. And my first investments were like in Idaho and Ohio.
And if you invest someplace where you know nobody, it's literally like putting your, your faith and trust in the hands of people that are 2,000 miles away and you can't oversee them on a regular basis. So it's slightly different if you say, well I'm here, I'm in my location, I'm building everything organically. But if the whole model is based on, I can only invest in places that have affordable well performing properties, not where I live, because they, I don't have well performing properties where I live, while then the network becomes even more important.
[00:05:44] Speaker B: That makes a lot of sense. So not just focusing on the asset themselves, like the property, but definitely putting like an emphasis on like the network within like a specific area versus trusting people. People that might be 2,000 miles away might have better like returns, but you might not have that good connection, good network with those people.
[00:06:02] Speaker A: Right. And I can give a little example for your audience to make this a little bit more transparent.
If you. And this is true for anybody who invests in, let's say a single family home as an investment property with the goal of either making a lot of appreciation or with the goal of making cash flow, sometimes both.
If you find this property and let's say it's a good property and now you buy this property or from whoever sold it, and even if you're lucky that it is being sold by somebody who is also an investor and comes from that background, not just a private person. So now the owner. Now when you are 1500,000, 2000 miles away, the only choice you have is to hire professional property management.
So far so good, right? So you had the property inspected before you bought it.
And out of that the inspector said, here are a couple of things, maybe you even got the seller to fix a few. And now your tenants come in, you hired property management, they got the tenant, tenant qualifies, moves it. Two months later, the tenant finds something substantial, let's say a few thousand dollars worth of a repair that the inspector didn't catch any. Nobody caught it.
In that scenario, you, yes, you're the owner. Property management says, okay, this needs to be fixed. We can't have the tenants live in the property like that.
But you can, well, you can try, but I can tell you it's not going to work. If you go back to the seller and say, hey, we didn't catch this, but now we have a $2,500 bill, right. So that's the situation. So you basically, and especially with a long distance scenario, this is the situation without a network.
Now let's do the same scenario. But now we have Investment company or an investor like organization like what I call turnkey provider.
That turnkey provider found the ugly duckling in a good neighborhood and renovated it. They put it on their basically website as a property for sale. I find it, or if you were my client, we find it together, we see it, we run the numbers. Good property right now because we know who they are, we know what they do, we check them out, that they also have property management inside their company.
Now we're going to say, okay, we are willing to buy this house. Zach and I, we are here as the, as the buyers. We buy this house, but number one, we want a one year warranty on everything that you touched in the renovation.
Okay? So and by the way, tell us the history of your property management because that's important to us. All right, so we find our property management is good. We buy the property, we sign on the dotted line, Property management find the same tenant, tenant moves in, there was a mistake by the, by the construction team, $2,500 repair. What do you and I do? We pull out the warranty and say, you better fix it fast.
That's a huge difference. Why? Because we spent the time to find out who are we willing to work with and what makes them special compared to anybody else. And you find, okay, the real estate agent is not that important. The connection between those who renovate and those who manage that is a really important thing. Especially when you are far away. That's why I'm such a huge fan of turnkey providers. A lot of people say, well, aren't they more expensive than buying it off the MLS or from Zillow or from some person who knows a person, who knows a person? Maybe the one thing that I always say as a response is if somebody like a turnkey provider puts a property up for sale, they are a professional organization. They know we, you and I, Zaak, we will only get the financing from the bank or from a lender. If that place appraises to the asking price.
If the they sell it for 200, the appraiser comes in and says it's only 180. Value is only 180. No lender, no bank is going to give you more than the basis of 180.
Now they know that. So they would never offer it for 200 knowing that the deal is not going to go through. So they offer it for 180. The inspector, the appraiser goes in, says, Yep, it's worth 180. The lender says, okay, we can do full funding. And if something is still wrong. We have our warranty.
That makes a good deal, that makes a strong system. And if you do what I'm actually suggesting for our clients, don't hop around the whole country, decide on a location and build a cluster.
Where you say, okay, you and I decide we want to build a cluster in Ohio and we try to find a turnkey provider who regularly has good properties on offer and then we try to buy four or five in the next four or five years, right? So we're building the cluster now, guess what happens at every property the first time. We may not know the inspector personally yet, but if we tell that inspector for the first time, and in my case I have, you know, clusters where clients and I have bought 20 properties, I know the inspector by first name, right? And he knows that I will come and bug him and he will be totally annoyed because I'm saying, well, what about a picture about this and what about this? And can you go back? And so he sends us this 90 page report instead of 60 because he knows this guy Axel is nasty in that sense. Well, now he knows, now he does the inspection. Everybody waits.
That $2,500 unexpected repair is less likely to happen. When you build a cluster and you're working with the same inspector and the inspector knows already what you want and what you're looking for because they work on your behalf and you pay it. Or in this case, if you were my client, you would pay. Yeah, but still, right? So that's what I mean by building these relationships to the lenders, to the turnkey providers, to the inspector, to anybody that is in the, in the picture to make your investment cluster initially in one and then the cluster and then your whole portfolio as successful as possible.
[00:12:02] Speaker B: Thoughts like overall network very important. I mean it's not just in like your industry here, but one thing I'd definitely be like very curious to hear because there's always these like ads people coming out with like real estate investing, passive income and oftentimes there's like a lot of misconception like around like the entire like concept as a whole. And especially when you're, you're dealing with like everyday professional. And like one thing I'd be curious to hear from you is how does like your, your ideal wealth group like system work? And like how does it actually help those everyday professional who might be looking like start like earning like income with real estate investing but they have absolutely no idea what they're doing.
[00:12:41] Speaker A: Well, the first thing that I would say that is different in our system than Most of what people have heard and still hear today is anybody who hears something about real estate or ask their parents or anybody that, that claims to be a little bit involved, they still to this day say location, location, location.
And I have basically switched this many years ago to say performance, performance, performance.
[00:13:05] Speaker C: Right.
[00:13:06] Speaker A: Because ultimately, yes, there are variables that make one location better than the other. When you're looking at crime rates and employment rates and gross or people moving away. And those kind of things are important when it comes to the location. But ultimately, if you have two houses, ideal identical houses, and the one sells for 250,000 and the other one sells for 200,000, that price difference is the ultimately showing up in are you going to make positive cash flow or negative cash flow, which is ultimately what you really look for when it comes to performance.
You if you look at them today next to each other on the same street, It's Main Street, 2526 Main Street, Main street and 2527 Main Street. Same house, same build, same builder, same year, everything, it's just $50,000 difference.
That is ultimately when you run your numbers, you get your lending whether you make money or you lose money.
[00:14:10] Speaker C: Right.
[00:14:10] Speaker A: And that's why we look at the performance because they are then in the exactly same location, the exact same house, only different price.
Right. So that's, that's why I am putting performance so much in, in advance. And then the other thing is, and this is an important component to the idea wealth grower concept. I wrote it in the book, I we have it on the website we talk about in our own podcast all the time. Is you said the person has very little concept other than knowing that real estate is a good investment asset class.
[00:14:42] Speaker C: Right.
[00:14:42] Speaker A: That's kind of our presumption.
What I am helping people with is not just to get all the different things that you kind of want to know to be a successful investor and build this portfolio so you reach your time freedom point. But what I also do as part of our mentoring program is helping you to adopt and live into a mindset that as the king or queen of your own empire. And that starts out with we're creating a company and LLC purely for the purpose of building this portfolio for you.
Now in a way, you're building it, I'm guiding you and you making all the decisions on how you're building it. But the point is a lot of people, successful people with good careers, I call them Henry's right, like hi earning, not rich. Yet they all day long basically dance to the tune of their Boss or their employer or whatever you want to call it.
And with that they don't learn. What does it mean to be the person in charge? What if this business is mine?
And so. Well, obviously in most cases you can take over the business, the company that you're working for, but you can be the founder of a company and we help you with that. And so now it's a matter of who are my employees.
And we already touched on a few examples. One employee is the inspector. Another employee is the property management organization arm of the turnkey provider. The marketing and sales team of the turn is another one. The lender or the bank, depending on where the money comes from, is another one.
[00:16:18] Speaker C: Right.
[00:16:18] Speaker A: And so forth. So you're building basically these kinds of employments which are in. I'm very glad now that we're finally in the. In the age where not an employee is exclusively defined as somebody who gets a salary.
[00:16:31] Speaker C: Right.
[00:16:32] Speaker A: If I say employment in the sense, it's kind of like a gig economy where you can say these people all have gigs with you and they have to dance to your tune.
And if their property management sucks, what would any owner of a business do if an employee doesn't perform?
[00:16:48] Speaker B: They're gone.
[00:16:49] Speaker A: Gone. Yeah, exactly. And there are plenty of property management companies out there. The same thing with lending. If somebody is not capable of actually paying the property taxes and the insurance out of escrow on time, and you get all kinds of annoying letters and emails and stuff, what do you do next? Opportunity, get rid of them and find somebody better dependable and so forth. So. But when you've never lived in this environment, when you're not already an entrepreneur or you got into business through your family or stuff like that, that is a very important component. I basically oftentimes say a little bit jokingly, I want you to be the king or queen of your empire.
And that makes you. That enables you to become the creator of your own future.
[00:17:39] Speaker C: I love that.
[00:17:40] Speaker B: Another, like, somewhat concept that I wanted to like, touch on here because you obviously have like this system to obviously like help with that. But you also have like your, your freedom like point, like the time freedom point.
[00:17:51] Speaker A: Right.
[00:17:51] Speaker B: I think you call it. And I'd love to hear like, how you break that down because a lot of people have different, like definition, like time, financial freedom, what it looks like, but in like, practical term, and like, what kind of like passive income levels should people. People need to like, typically achieve that to really have that like financial freedom, if that makes sense.
[00:18:12] Speaker A: Yeah, it totally makes sense. And it's really a very individual. You could almost call it a custom number.
So the way we go about it is how do we define what we initially call the time Freedom point number is the starting point when we start our mentoring engagement, our work together, is to say, okay, if you and I were to do this, like a role play, I would say, zach, please sit down. If you have a partner, family, wife, kids and so forth, just sit down and take a piece of paper. Or you can go online and do like an expense calculator and fill in literally everything, right? You put. Look at what expenses do you have for. For your shelter? Basically your house or apartment or whatever. What expenses for food, what expenses for car, what expenses for vacation, what expenses for subscriptions, like, I don't know, YouTube or Paramount or Disney or Netflix or Hulu or, you know, all the kind of subscriptions stuff and any kind of other stuff like that. So you add it all together. And certain things, I'm obviously aware, like you're probably not going to go on vacation every month. So you have to take some of those things that happen only so often in a year and kind of average them out. But what you end up is an average expense per month.
[00:19:26] Speaker C: Right?
[00:19:26] Speaker A: And so for today, or if we were to do this now, in the month that we're recording this show, we would come up with a number. Now, your number, let's say, is $5,000.
Joe's number is $6,500.
Melissa's number is $3,700 or something like that. And most of the time, the number is some crooked number, like, you know, 5175, 36 or something.
[00:19:50] Speaker B: It's not even.
[00:19:51] Speaker A: Yeah, yeah, exactly. But you can round it so it's. It's that number. So now we go and say, okay, now that we have that number, let's just say for easy calculation, it were $5,000 in today's money.
So that's what we identified as our current time freedom point number. And now we have to go and say, okay, what does this mean in properties?
And you have to start with a certain assumption. Now, for your audience, I want to say about three or four years ago when, when interest rates were low, it was reasonable to assume something like 300 or $350 as positive cash flow out of an investment property.
Now, how do you actually figure this out? You go basically and say, okay, I buy the property, I finance the property. I need to get it managed, because like we said, I'm living 1500 miles away.
So you have your rental income you have 10%, typically on average property management fee, you have maybe a little bit of a reserve. I always recommend for vacancy and for repairs and for cat packs, 10 to 15%.
[00:21:00] Speaker C: Right.
[00:21:01] Speaker A: So those things you take out of rent and then the biggies that you have is the mortgage itself.
And within the mortgage you have like the loan, like principal and interest for the loan plus insurance, plus property taxes. So that's the whole package. And what you want to actually do is we want to see how much is my rent and how much are all these expenses. And three, four years ago it was reasonable to say the difference should be 300, $350.
That was when you could get loans for 5%. Now the loans that we can get, or mortgages if you want to call it that are more in the area of between 7 and 8%.
So that makes a huge difference. So today you probably have to live with something between 100 and $200 to say this is a well performing property. But still the principle that comes from the ideal wealth grower principle is we don't buy a property that doesn't show us positive cash flow on day one.
[00:21:57] Speaker C: Right.
[00:21:57] Speaker A: This is also, by the way, why it's so important whenever possible to get that one year warranty. Because then we know we don't really need to take any of our reserve money in the first year because the people we bought it from is responsible to fix everything. And if you think that through and you say, let's say you have a property that has $1500 rent and you want to put 15% aside for these three things that I mentioned, that's $200 a month, that comes out to $2400 that you will at the end of that first year sitting there. If the place was basically renovated before you bought it or when the tenants moved in, there shouldn't be any $2,500 repairs.
[00:22:41] Speaker C: Right.
[00:22:41] Speaker A: After a year, keep in mind there is now a tenant been in a year. Everything that they didn't do perfectly should have been fixed now.
So what may happen is, you know, like a filter goes out or like faucet leaks or then you know, something like that, a few hundred dollars. So you will always be ahead of the game. I'm just saying this in the context of why do we do this reserve? And everybody has to ultimately decide how much reserve do I want to put aside. In my experience, if you take it individual property by property, if you do this for three years and you bought a pretty good property, you have enough money sitting there and then you have a few repairs here and there and you just replenish it. But there's always like five, six thousand dollars in, in reserves sitting there. And that means from that day on you don't constantly have to put it out of the rent. But that's the difference between like three, four years ago, you could have easily gotten 300, $350. Now you basically somewhere between 100 and 200. Let's take the middle and say 250 just because it's easy to calculate. And we wanted to get 5,000. That was our example. On first glance. That means Zach and Axel need to work together to get 20 properties for Zach. Because 20 times 250, if the world doesn't change anymore, as of today by probably properties, we will have 5,000 income. Yeah. Now the reality is you are a nice guy and I'm a nice guy and everybody listening to us is also nice guys and girls. But we are not nice enough to never increase the rent.
We're just not that nice. Right. So if we increase the rent every month, every year BY let's say $50, and I think that's pretty reasonable if you have a fifteen hundred dollar and your landlord says, well, we're going to do 1550 next year.
[00:24:26] Speaker C: Right.
[00:24:26] Speaker A: I don't think anybody would move out for that.
So but if you do this almost, I would say about 85 of those $50 come into your pocket because most of this stuff doesn't really get more expensive of all these expenses that we spoke about. So now you're Instead of year 250, you have actually 285.
And the next year you have 310, and the next year you have 340 and so forth compounds, as you keep adding properties, it's not really going to stay. What does that mean? Instead of 20, as it looks like on day one, what you really probably end up having to get is somewhere between 10 and 12.
[00:25:07] Speaker C: Right.
[00:25:08] Speaker A: And the other thing is, unless you're already inherently rich, which I would always hope for everybody, but most people that work through our program cannot really get too much more than one property a year for the first six, seven properties. Then when you think about it now you. Let's just imagine you had seven pop or six, six properties and the average cash flow were $300 a month, right? So that's $1800 a month that within like about 18 months gets you the down payment for another property. So after the fifth or six, you can buy two a year and then you might end get to three a year. If you take your.
[00:25:47] Speaker C: Your.
[00:25:48] Speaker A: Your income. Since you. You still have your job, you don't really need to consume it. So you would apply it to the next next property that you want to invest. So your own savings plus what cash flow comes in, combine it together by the next one, by the next one. So between property six and 12, you can probably buy two every year. And then for the last few that you still need, you can probably.
Yeah, I don't know if you get to three per year, but like two or three every 18 months or something like that.
[00:26:20] Speaker C: Yeah.
[00:26:20] Speaker A: And what you will see is, obviously, it's very hard to say how exactly long does it take, But I have something for your audience if they're interested for free. We did a little PDF spreadsheet because somebody said, I want to live a really great life and I need $10,000 a month.
Can this even be done?
And if you. And I admit it's a few years old, I created it with the assumption of $300 cash flow to start with and $50 increase per year.
Guess how many properties you need to get to 10,000 with that premise?
[00:26:54] Speaker B: A lot, Right?
[00:26:55] Speaker A: I would assume my. What. What is a lot?
[00:26:59] Speaker B: I'm gonna throw a random number out there. I mean, 40 based on. Based on, like, my math, maybe 35, something like that.
[00:27:05] Speaker A: It's actually 15.
[00:27:08] Speaker B: Oh, it's 15.
[00:27:09] Speaker A: 15.
[00:27:10] Speaker B: But we were just calculating.
[00:27:12] Speaker A: Okay, interesting, because we were calculating if you look at every property increasing, and it takes about between 13 and 16 years to get there to get those 15 properties.
[00:27:24] Speaker C: Right.
[00:27:25] Speaker A: But okay, on the other hand, if you say, okay, I'm 35, I can retire at 50 with $10,000 a month, that's not so bad.
[00:27:33] Speaker C: Right.
[00:27:35] Speaker A: The other thing, by the way, that is also oftentimes forgotten when people say what actually happens when I reach this time freedom point. So I want to just say two things real quick. Why is it called the time freedom point for the vast majority of people who don't have their own business?
You have really very limited freedom to do with your time what you want to do.
If you say, I take three years off and just go, you know, explore the world.
Well, unless you're already rich or have some kind of inheritance that can keep you alive, most people can do this.
So why do we build this portfolio and get to that time freedom point of like $5,000, $6,000, $10,000 is because if you consistently with the real estate portfolio, then you can literally say, I no longer want to do this job that I've been doing the last 15 years or 10 years or 5 years or whatever.
I want to spend my time wherever I want to go with my kids, I want to do my hobby, I want to explore the world. And I know I have 5,000, 6,000, 10,000 coming in every month.
That's the freedom, the freedom to do with your time what you're passionate about, not what you need to do to exchange it for money.
Because if you really boil it down, what do most people that have a job do?
They exchange their time for money.
We are being told that we're exchanging our skills for money, right? But in a sense, if you say I'm the master in fill in the blanks and Mr. Employer, I'm willing to give you 10 hours, they're probably not going to hire you even if you're the master and whatever, right? They want a full time job. They take somebody less mastery for 40 hours than the absolute master who can only give him five or ten hours, right? So you really don't have the freedom to decide what you want to do with your time until you have a sufficient passive income that sustains you no matter what.
The other little side effect that I wanted to point out is obviously when you have 15 properties, just as a little thought experiment, and let's just say you were very conservative and you never bought anything more than $200,000.
[00:29:46] Speaker C: Right?
[00:29:46] Speaker A: So that's a 3 million dollar portfolio in asset value that you have sitting there. Now they're not all paid off, but sooner or later the first one that you bought, when you get to number 15, let's say it took you 13 years, that one has been paid down 13 years. Now I want to ask a mortgage payment. You know, I'm also asking your, your audience, when they listen to this or watch this, think back if you can, on how much something that you commonly consume cost in 2010.
[00:30:18] Speaker B: A lot less than now, right?
[00:30:19] Speaker A: If you go like you buy steak or you, you, you go buy groceries or you go fill the gas tank or you look at for a new car or a new bicycle, it's not just a little less in those 15 years, it's probably been almost double.
[00:30:36] Speaker B: Oh yeah, definitely.
[00:30:37] Speaker A: Now why would we assume that when that's the reality between 2010 prices and today's price is on probably close to double. Well, that's probably going to be true for 15 years from now.
What is that? What is the real meaning of saying this? The real meaning of saying this is the fifteen hundred dollars in rent that your tenant pays you for a certain amount of Space in the house that you're renting to them in today's little green pieces of paper is 1500.
In 15 years, it's probably 3000.
That means the purchasing power of these little green pieces of paper is gonna half or something like that in that time period. And why am I saying this? Let's say you bought that $200,000 house and you got $160,000 mortgage. In 15 years, you paid it off. Now that $150,000 mortgage is down to 100,000 to pay off the remaining hundred thousand that are still on the balance with the green pieces of paper that only half worth to today will be much, much easier.
And what does that mean? If you look at it, we're doing the financing 8020. So you borrowed originally $160,000, and you put 40,000 of your own.
Well, when you look at the mortgage payment that you're making out of your fifteen hundred dollars rent, there's probably something like six hundred, seven hundred dollars mortgage payment just for the interest and principal, maybe eight hundred.
So as soon as that mortgage is gone, you're not just jumping up $50 a year like we had said earlier, you're jumping like $700 just on that one property. So now you're making 5,700. A year or two later, you do the next one and it goes down.
Same thing if you have 10, right? And then it goes to 11, it goes to 12. The funny thing is, as these properties, step by step, get paid off and don't have mortgages anymore, and the rent is still going to increase.
If you start with the premise, I want to have $10,000 in purchasing power in 15, 20, 30 years, you will maintain your purchasing power in two ways. Number one, you keep increasing the rent so the space is the same, and you just have to increase the rent to get the same purchasing power for the same space.
And when you don't have to pay a bank anymore, you keep it, all right? You keep the. All the money except for the reserves and for a little bit of management fee. Now you can see why I say you're building. You're the king or the queen of your empire, because that literally is by then 15 years from now, probably a five or six million dollars empire.
[00:33:17] Speaker B: I love that. I love the king of the empire.
[00:33:21] Speaker A: If you think about it, it has the assets. The assets have that value, and other people pay the cost of those assets.
I mean, that's a beautiful.
[00:33:29] Speaker B: You're the king.
Exactly. You're the king of the empire. People are just coming to you, they're paying your stuff and everything like that here.
[00:33:37] Speaker A: Yeah, yeah, exactly. So that's, that's, you know, how this whole system fits together. And the time freedom point is just to say, what do I need to do to get to a point in the future where I'm the king of my own time and I can decide what I want to do with it. I don't need an employer, I don't need a bank, I don't need anybody.
[00:33:56] Speaker B: That was beautifully said, Axel. I love that.
[00:33:58] Speaker A: Perfect.
[00:33:59] Speaker B: Well, I really appreciate your time here, Axel, if anyone wants to get in touch with you because then you have your website, you have your book serve, and you also have your own podcast too. But is there like any specific places that people should look at if they want to get in touch with you here?
[00:34:11] Speaker A: Yeah, I mean, the website is ideal. Wealth grower.com. and what I encourage people to do is if you go to the website, in the top right hand corner, you see a little button that says book a call or set up a call or stuff. This is a complimentary 60 minute conversation directly with me because I feel getting on that journey, you need to have a personal connection. You need to kind of tick with each other, have the right vibe, have the right ambition. And that's two things, Right. If I don't feel that you're really serious, I would probably say thanks, but no thanks. If you feel, hey, this guy is weird or I can't relate or, you know, it sounded good on the podcast. But then same thing applies, right? So I think we need to spend a little bit of time together before somebody makes a decision. Yeah, the journey, the goal, everything we want to do sounds good. Now let's get to know each other. And that's what that book A Call is for.
[00:35:00] Speaker B: Yeah, I think that's how any business relationship starts off here. Exactly on the right path here. So perfect. Thank you so much too. So to your listeners, obviously. Make sure to check out idealwealthgrower.com if you want to learn more. And if you've enjoyed this episode, don't forget to subscribe. Like the podcast, you can also find more
[email protected] where we're dedicated to helping entrepreneurs you can build without leadership in business by getting them on podcasts and launching their own podcasts. Until then, keep pushing and we will see you in the next one.
