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Wealth Without Wall Street: Infinite Banking And Investments With Russ Morgan And Joey Mure

December 21, 2021

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GDNI 183 | Wealth Without Wall Street

Jamie Bateman welcomes back Wealth Without Wall Street founders, Joey Mure and Russ Morgan, to talk about the things financial freedom has allowed them to achieve. Russ recalls how he saved Joey from working 70 hours a week and how that led to their partnership. Russ and Joey also share their views on how many people are stuck with mortgages and how this takes a toll on their financial freedom. Learn more as they walk us through their journey from relying on paychecks, to living their best lives today.

Listen to the podcast here:

Wealth Without Wall Street: Infinite Banking And Investments With Russ Morgan And Joey Mure

Welcome everybody to another episode of the show. I am joined here by Wealth Without Wall Street, Joey Mure, and Russ Morgan. How are you doing?

Never better, my friend. Thanks for having us.

It’s good to see you again. It has been a while since we have talked.

For those who have not read, Joey and Russ were on a repeat performance. We had the pleasure, and Chris graced us with his presence on which four of us were on. We went through Wealth Without Wall Street as far as what the company is. We would drill down into the infinite banking concept quite a bit, Russ and Joey’s backgrounds, and things like that, which we will touch on briefly.

I recommend the readers to go back and check out that episode. That’s going to give you a lot of background for this one. Before we dive into what you are working on these days, why don’t we quickly touch on your background, infinite banking, and how that plays into some of your investments these days?

I love being on a note show because my whole career was in the mortgage business. I spent eleven years in that space, built a very good name for myself and a good business, and subsequently realized that I was on a path of a higher income but not necessarily financial freedom. I looked around, and the things that were most important to me, my family, for instance, were getting the least amount of my time. The higher the income, the more the demand on my time.

My wife has told me since then, whenever I told her I was going to leave that business to go into build Wealth Without Wall Street with Russ, she was immediately on board, and I thought it was weird. That’s strange that she was like, “You give up $300,000 of income and start from scratch.” She’s okay with it when she’s pregnant with our fourth daughter. I asked her a couple of years ago, “What was going through your mind?”

She said, “Honestly, Joey, if you had told me you were going to be a garbage collector, I would have said you should do it because it would have meant that I’ve got more time with you. I was sick of you being gone and not present.” Long story, Russ and I joined forces in 2014 to start getting out the message of where to find financial freedom, how to get there, what’s the process to get there, and almost like documenting the path he walked me through and helping other people to see the same thing that’s possible for them.

I had to come along the way and save him from a life where he was working 70 hours a week, slaving people into mortgages, and not giving them any pathway to financial freedom. You mentioned the concept of infinite banking. I have been introduced to it as well in pure nature. I had to share it with somebody.

Joey was the most gullible person I could see and talk to about whole life insurance, which is one of the backbones within that strategy. To my surprise, he was much more capable of explaining it than I was. Hence, I asked him if he would come work with me so that we could partner up and become a lot more than the two of us. We have built a team that is teaching people how to create financial freedom through tools and infrastructure like infinite banking, tax strategies, and understanding more about who we are as an investor so that we can leave jobs and do the things that we are passionate about instead of trading time for money.

Full disclosure, I’m a client of yours, and I am a part of your community. I have somewhat of an inside look at what’s going on. I know one of the things you offer inside your community is something related to establishing your investor DNA. Would you mind drilling down on that? What does that investor DNA mean for Wealth Without Wall Street and your community?

Most people that you interview either on your show or we have interviewed on our show found a path to financial freedom through a certain vehicle, whether it be note investing, long-term rentals, turnkey rentals, short-term rentals, eCommerce or whatever the case may be. What do they do? They tell you, “You’ve got to get behind me, and I’m going to show you the way to financial freedom,” which is excellent. You need mentors and guides along this journey. If you would go alone, you are not going to go very far.

In fact, you are going to get chewed up and spit out more times than not. The reality is that most people start with the investment, thinking that, “That’s what creates financial freedom.” The reality is you create financial freedom based on who you are, how God created you with the certain strengths, experiences, relationships, and networks that you have.

If you don’t start with yourself as the greatest investment, the path doesn’t matter. Where the investor DNA was born out of is you need to learn who you are as an investor so that you can get to financial freedom as fast as possible and not be like Russ, who went through college, changed his major about sixteen times, and ended up going on the fifth-year plan to try and get that basic degree.

Do you have anything to add to that, Russ, as far as what the investor DNA means?

What it helps people understand is I don’t have to try to look on a board of ideas and blindly pick, because that’s what happens. Most of us have had a job at a company that offered a 401(k), and we were stuck trying to determine which one of those mutual funds we should pick. What did we do? We looked at the one that had the highest 1, 3, and 10-year returns. He said, “I’m going to choose that one.” We have talked to the person in the cubicle next to us, and he was like, “That’s the one I did last year, too.” It’s like two blind people leading each other.

I was in the investment world for a long time. I would ask advisors in our firm, “Which of the choices within this mutual fund deck with some of the products that our clients were purchasing at the time?” They were buying. I would say, “What are the funds that you tend to lean towards?” They look and see the highest return, “That one.” I’m like, “That makes sense.” I look back on it now, and I’m like, “This is crazy.” The people leading the people and people that are in charge of other money should not be because they don’t have money and don’t know what to do with it.

You need to learn who you are as an investor so that you can get to financial freedom as fast as possible. Click To Tweet

I was at the doctor, and it’s a new doctor of mine. She said that for my cholesterol, I can either go on this medication or the other option is I can become a vegan. My first question was, “Are you a vegan?” She said, “No.” I’m not calling her a hypocrite, don’t get me wrong, in case she reads this. You should be following people who are doing what they are preaching.

My crazy analogy derails me very quickly. I always get going down a rabbit hole but the point of that is if you listen to our podcast, you will notice us talk about the many different things that we invest in. I put the disclaimer, “Please don’t go try to use all of those ideas.” Just because you see some that we are posting $10,000, $20,000 or $30,000 a month sometimes, in cashflow, in businesses, and investments that we are in, doesn’t mean that it fits you. Don’t use the same model that you have used in the past with the 401(k). The investor DNA allows people to narrow down the choices based upon who they are, the traits they already possess, and how they can add value to something through that lens.

People who are inclined to be small business owners or more active investors have a tendency toward action without thinking. I listened to your podcast. I know you have your hands in a lot of things on the passive side. I’m curious how that evolved for you personally over the years. I know you are in short-term rentals, land flipping, and probably 8 or 10 others like Ethereum mining and ATM investing.

Somebody from the outside who turns on your monthly cashflow podcast, monthly income report, whatever you call it, which is blown up. You know that but for the readers out there, you should listen to that. You are making $50,000 to $70,000 a month in passive income. You are doing something right. The point I want to get to is for someone who doesn’t follow you guys too closely, it seems like you are all over the map. I’m going to throw it out there. It seems like you’ve got your hands on everything. How have you personally determined your own investor DNA and what your long-term strategy is?

To be clear what the investor DNA is, it’s largely based on a DISC profile personality test. We have used that data to match it up against how you see things from a financial world and view certain passive income strategies. We have six on a matrix that you get along with that profile that talks about the pros, cons, and the key factors that go into how you would view those investment types based on your profile. That’s what we are talking about when we say the investor DNA.

The big question is, “How are you doing all of these different things if you have a unique way that you view these investments?” I would say, the key to that is a partnership. Russ and I are very alike in a lot of ways but there are certain key things about us that are very different. I am going to gravitate to certain investment types and strategies because they provide stability and consistency. There are not a lot of variables and market conditions that are concerning. Russ likes this quick, fast, and wants to be an influencer in certain things and be more involved from a marketing and strategy type deal.

When we joined together, it opened up to where we probably would have never done certain things solo, which is a cool part of this investor DNA conversation. Don’t see it as a limitation. If you pull up that profile and it says, “You may not like this aspect of this business.” I don’t see why I can’t be involved in that. It means I need to potentially have a partner who is, and maybe I bring something else to the table in that case.

Let me give a specific to that. You said we are in a lot of different things like short-term rental business, for instance. My dominant trait, by what the assessment would say to me, is I don’t like managing systems, managing people, and not being very organized. If you are a short-term rental operator, that’s the key factor you need to have to be successful.

Without that, you are going to fail miserably and hack off a lot of people along the way. To Joey’s point, when we were going through this process, I liked the scalability that comes along with short-term rentals. I liked the part that it gives me a people-oriented business that I can refer people to locally through different marketing channels. I like that aspect of it.

I was like, “I like that, and I’m passionate about this. It’s a business on the move. We are in a shared economy already. This makes sense. How can I get involved?” It’s looking for who would possess the skills. Clearly, Joey would suck all of those things, too. It was like, “I can’t look to him to do this. How do we find an operator?”

The question comes back, “If I’ve got to pay someone to do all of that, I can’t do it on one unit. How many units then it will require for us to pay someone that they would be happy doing it, and we would make money on our investment?” That business intuition that Joey and I possessed, the years of experience of managing money, looking at money, and understanding finances and businesses gives us the acclimate to that thing that says, “I can overcome this with a partner and an operator. Let me use my gifts and passions to apply.”

Short-term rentals and land flipping are two big ones for you. Joey, do you want to pick one of those?

I’m much more inclined to the land flipping side. The reason is if you think about it, the land is probably one of the most boring asset classes of all time, and I’m boring. It’s one of those things that is steady to me. I’m much more attracted to steady and consistent. That’s the reason why I honestly wanted to work on the note fund because it’s steady. You are not going to see some drastic results one way or the other. I can bank on this.

If you think about it from a market variability or volatility standpoint, they are not going anywhere. They are going to be here. No matter what happens with COVID or what other current events our market condition is, land, and mortgage are going to be here. I’m attracted to that, and also, the fact that we could hire a team to run that business for us allows me to have more time freedom, which is my number one goal and objective.

You liked the fact that it’s a relationship selling a business, too. You are helping people get rid of a piece of property that they bought because they loved it for some reason, and now, they are no longer using it. You like the aspect of connecting that person to someone who would like it as well. It’s systematic. It provides a very proven process when done repeatably, and there’s coaching available around that that people who are running it can be successful in it.

Can you walk us through an example then of a land flipping deal? How does that work for note investors who don’t know what you are talking about?

The beauty of note investing is having that background will probably excite you to this. They are very similar in their nature. A typical note deal looks like this. We will send out mailers to property owners, usually those who own property in a state that they are not a resident in. There’s one indicator that says this person may be disinterested in owning this property. Another thing that we would look for low-hanging fruit would be a property owner in a different state who has back-taxes on that property. That’s a reason why they may be disinterested.

GDNI 183 | Wealth Without Wall Street

Wealth Without Wall Street: We’ve built a team that teaches people how to create financial freedom through understanding more about who we are as an investor, so we can leave jobs and do things that we’re passionate about instead of trading time for money.

We will mail out 100, 200 or 300 mailers a week to these property owners and offer them money to take the property off their hands. These are small pieces of property in general. Sometimes, we will get a bigger piece of property. This isn’t the type of thing that generally the person reading this is going to be like, “This is where I’m going to go build my dream home on.” This is an acre in the middle of a desert, somewhere on the side of a mountain or in the middle of a swamp.

These are places people have bought for some reason or another but someone else wants to buy, too. What we do is we will buy it and go in there. It’s an inefficient marketplace, so there’s no real estate agent with a sign on the property. There’s not enough money in it for a real estate agent. Ultimately, we go in, buy it, and figure out what the market is worth.

We will usually offer them about $0.25 on the dollar, and we will turn around and immediately market it to the neighbors. The first person to buy the property is going to be a neighbor. When a neighbor passes on it, usually the spouse finds out later and tells them to call you back. There’s always that situation like, “Why didn’t you buy that property? Now they have built four trailers on there, and the guy’s got a whole junkyard.”

It may not be the neighbor has plans for it, but they can control the market.

The next place is they are going to go on a Facebook Marketplace, put it up there, and offer it up as a low down payment and monthly payment for 4 to 6 years. Now, they make it affordable to someone who may want to park their RV and live on it. That’s not an option until they own it but that’s their vision like, “I want to get off the grid. I’m going to go there. I want to shoot rattlesnakes on a four-wheeler through the mud.” That’s what they want it for. They wouldn’t normally buy property because they wouldn’t be able to come up with $10,000 or $15,000 solid cash but you offer it to them for $300 down and $200 a month for the next 60 months, they are like, “I can do that at least for 4 or 5 months.”

You started to put some numbers to walk us through a deal.

For simplicity, we will say we bought a piece of property for $1,500, we go out, and market it for $300 down and $100 a month for 60 months. Typically, we are trying to 4X from the very beginning. That’s the total price. When we get out there, we are going to make somewhere between 300% to 1,000% gross margin off our deal. The typical person is going to buy it, set up a payment plan, and hold it. We have what’s called a land contract with these people. Meaning that until they pay off the debt, they cannot occupy the property. They can’t put a structure or live on it.

They can go out there and hunt fish, ride four-wheelers or whatever the ordinances and jurisdiction would allow but they can’t live on it. The beauty of it is in the event that someone quits paying us, which we know in the nonperforming note world that happens, what we get to do because of the rules that don’t govern raw or not occupied land is we cancel the contract. Now, that person is no longer paying for it. We go back and remarket it. This happens. We have about a 20% default rate out there. We would love everybody to see it all the way to the end.

We try our best to help those people get back performing but a lot of times, for these types of people, the first thing to go is that luxury they can’t afford and can’t pay anymore. If we can’t work it out with them, we will go back to the marketplace. Now, our cost basis went down from $1,500 of what we purchased it for minus $100,000 a month for 5 months and the $300 down payment they gave us. Our cost of capital and basis is way low but we are going to still market it right back out at the same level, $300 down, $100 a month for 60 months, and we keep those notes going.

That’s pretty interesting for our readers. A lot of our readers buy land contracts. It depends on the state, it could be called a contract for deed. Typically speaking, a CFD or Contract For Deed is the same thing as a land contract. It depends on the situation. Chris and I buy a lot of land contracts but those are normally for owner-occupied property. It’s a little bit different. We still have to comply with Dodd-Frank and certain rules that come along with dealing with a note or land contract on an owner-occupied property.

Some of the differences between land notes and owner-occupied notes or land contracts are they are not living on the property. Most likely, the odds of working something out through the borrower are lower because they are not living on the property. They are not invested personally and emotionally into the property. Like you alluded to, they have other property, most likely, which is a good thing because this isn’t their last acre or last dollar. That’s interesting. If you sell the land on terms and you have a performing note, have you sold any of those or how does that work?

We have bought them. We have not sold them.

You had an active land flipping business and a passive one. Is that still true?

We enfolded the active one into a passive one. It was not performing in a way that was worth us continuing, so we transitioned strictly to the passive model.

In general, land flipping is a strong part of your approach to all of this.

It’s a foundational part of it, in my opinion. It’s a long-term thing. It’s not overnight. You are not going to see it like go crazy but I will tell you to the point of my daughter. My daughter came to The Land Geek Bootcamp. Now, my other child has purchased two lots in Texas and is about to start marketing them. She has gotten interested in the land flipping business.

Russ, I have heard that your child is into learning how to make money.

You create financial freedom based on who you are and the certain experiences, relationships, and networks that you have. Click To Tweet

She is interested in anything money and constantly asks me questions. She’s learning from one of Joey’s daughters and selling rocks and seashells to people in the neighborhoods. She’s like, “How do I multiply that?” The thing is, if we can pass down this knowledge to our children so that they would learn from us instead of having to go out and spend tens of thousands of dollars to go to college, waste time and jobs that they end up hating, they may end up coming up and following what we have been doing. Let’s teach them as quickly as we can.

It’s built into the infinite banking world in a way the whole family legacy, family education, and family unit from a financial education or wealth-building pursuit standpoint. I hadn’t thought about it until talking to you as far as the 401(k) is all individualized. It’s all about me or even a Roth or any IRA. It’s all an individual. That’s what I stand for. How about the short-term rentals? Can you speak about those? How does that fit your whole business model?

The short-term rental space is interesting because you can approach it from either an ownership standpoint or where you purchased a property, furnish it, and then place it on Airbnb, VRBO, or the like, and then make this much higher amount per month. That’s one way to do it. What we have chosen to do because the market is so inflated in our opinion is we have approached landlords and worked out a long-term lease with them with the ability for us to be able to then turn around and market those properties on a short-term basis after we furnished them.

It has been extremely profitable because we don’t have to worry about what the market does with those properties. We are able to arbitrage the difference to what we pay monthly and what we gain. As mentioned before, we have a full-time operator, so it is truly passive for us in the sense that we check in with them once a week and make sure if there’s anything that we need to help with on the marketing or influence side, we can help and continue to grow the business but it is being run on its own. What would you add to that, Russ?

Ray Kroc is famous for saying to a group of Harvard grads after giving a commencement speech, “I am not in the hamburger business.” What business was Ray Kroc in? He was in the real estate business. Is there a hamburger business on top of that real estate? There is. That’s what the franchise ePurchases. Ray Kroc was in the real estate business. The reason I was disagreeing with my bearded friend is the business is exactly the same.

The STR business is a hospitality business. It is not a real estate business in any shape or form. That business is the same no matter if you own the real estate or not. You are running a hospitality business. In some situations, you are renting from a piece of real estate that you own. Sometimes, you are ringing it, as Joey was alluding to, from another owner, and people would call that arbitrage. There is a difference in the ease to get into the business. If you don’t own the property, you have to get the property owners’ approval for you to be able to use it for that purpose. At the end of the day, the business is the same.

We teach people that we have two different businesses that were operating here, a real estate business and a hospitality business in nowadays environment. We are not buying a ton of the real estate underneath it, just because we feel like it’s a little bit too expensive. At some point in time, we won’t buy it and potentially bolt on our hospitality business on top of it.

For most of what we are doing, we are running a hospitality business. It’s a lot of fun because we have an operator, and we get to throw our opinions in. From what I hear from grandparents, it’s like I get the hold of kiss them, play with them, and as soon as they poop, I hand them to a parent. What I feel with our STR business is we get to have all the fun and excitement of it and come up with new ideas, hand it to our operator, and talk to them.

You said you don’t have a lot of money. I’m sure you have a lot of money into the business but less than you would if you were buying every single piece of real estate. There’s less risk there, and there, you can also pivot more quickly if market conditions change. If prices drop, you can start buying real estate or if for some reason the short-term rentals in this area changed the legislation, you are out. It seems pretty liquid in that sense as far as your exit strategy.

That is the thing that creates the biggest pause or concern for us as it relates to the STR space. You’ve got to be cautious as to where you are going. Sometimes, people are like, “I live in a city that’s not a destination. I don’t think it’s going to be a great spot.” I’m saying, “That is probably a better spot.” We are going to see, at least in the short run, the Miamis, the Hawaiis, the more destination the city is, I am going to see those cities cracking down because what’s happening is all these hedge funds and these major investors are coming in, buying up all the real estate, and making it unaffordable for the local people working in the hospitality industry, whether it’s hotels, STRs, restaurants or whatever it is.

They can’t live there. There’s no long-term rental available because it has all been bought and turned into a short-term rental. It’s pushed the price way too high. They are not looking to come into Birmingham or into these smaller-market cities and even the outskirts of those cities to do that. They are going into those biggest where they know there’s going to be consistent travel and those STR businesses. For us, we have started to think through the markets that we want to expand in the future. We need to be cautious and know that we need to be in certain areas where maybe the government if they did want to come down on it probably wouldn’t target this spot.

Any idea what the numbers look like from what percentage of short-term rentals are vacation destinations?

We have done a lot of research on Airbnb, when and how it was founded, and how much it’s grown. The last number I saw is $170 billion or $180 billion business in the industry. They have more nights rented than any hotel chain in the world. I don’t know how much of it is the vacation rental. When you type Airbnb on Google, it says, “Vacation rental company.” They are deeming themselves as a vacation rental company, which is interesting because the purpose of a lot of people is that it is not a vacation. It’s another place to stay. This is a sidebar but it’s the reason my brain works this way. My first job out of college was with a company called Enterprise Rent-A-Car.

When you are a rental car company, what do you think? When do you need a rental car? On vacation. Most of the time, we are traveling to another city, we fly in, get on that bus, wait in line, and rent the car. At Enterprise Rent-A-Car, 90% of all the cars on the road have nothing to do with that. They are a replacement car. They are renting the majority of their cars to people whose cars are in the shop because they are being serviced or have been in a car accident and being repaired. That’s their niche. My brain thinks like that.

When we are servicing customers and trying to determine who’s our clients for our units, I love trying to find the local person. We are purchasing a property now, and that property is going to be an event venue most likely for people having weddings inside the city or maybe having some outside guests and they need a place to go to.

That’s a unique feature for the city to have the people that are in there to have a place to go to. In a lot of our units, we’ve got people that have been displaced because of tornadoes. Their house was torn up, and they have been out of it for over six months. They are living in our short-term rental, and their insurance company is riding our short-term rental company, a $5,250 check every single month.

You are okay with global warming? I’m kidding.

GDNI 183 | Wealth Without Wall Street

Wealth Without Wall Street: The investor DNA allows people to narrow down the choices based on who they are, and how they can add value to something through that lens.

I’m thankful that nobody got hurt, and they are consistent renters because the 1st or 2nd week after Thanksgiving is one of the slowest weeks in our business cycle. Everybody who’s there because of displacement, their house wasn’t ready that they were getting ready to move into because they moved into the city, sold their house, and closing on the new house that has gotten pushed back and they need a place to go. Those people are still there, and they are going to be there until that happens. It provides me with that replacement model, which fits in line with my enterprise training.

It’s almost like you have a long-term tenant at short-term pricing, which is exactly what you want.

When you get a unit where you are paying $1,700 a month, and they are paying you $5,200 a month for 6 to 9 months, and you don’t have to re-up the supplies. The margins keep rising every month that they are there because we don’t have all the new supplies that normally that we would have to refresh every 2 to 3 months.

Did you run into traveling nurses at all?

Yes.

My brother ran into some traveling nurses, and that was great because they’ve got the stipend, everything was paid for, and they were out six months later. It seems like that would be a good fit for your business model. I know you have to run and you are busy. I appreciate you coming on. Real quickly before we hop off, what is 2022 look like for Wealth Without Wall Street? Maybe not so much Russ and Joey’s passive income but the business Wealth Without Wall Street, how are things looking for 2022 for you?

We continue to try to get better at helping people to find their path, to get the messaging as clear as possible, to build products and courses that aid you in that process, and have our coaches continue to expand on what they can offer in terms of the inner circle and the other things that we do. One thing that we did add this 2021 that is going to expand dramatically in 2022 is our top-end Passive Income Mastermind.

This is where 7, 8, and 9-figure entrepreneurs are gathering together to learn how to expand their passive income, reduce their tax liability, and build the infrastructure it takes to build a legacy and pass down this information to the next generation and beyond. It’s in the early stages but the amount of momentum and the people that have already been attracted to this confirmed to us that there was a need for it. We are excited about that and continue to see where that leads. Russ, what would you say?

I’m looking forward to more people who fire their bosses. I’m looking forward to more of those statements in the community where they said, “Today was my last day but the first day is the rest of my life.” We have heard two of those in the last day, and that’s what jazzes us up. That’s what confirms everything that we do, and we work harder to do all of these things.

It’s ultimately to hear those statements, see those results, hear the stories of the spouses who have been able to come home or the dads to be able to spend more time with the kids. That’s what it’s all about, and that’s what we are going to continue to do in 2022 and find ways to make it where we hear those more frequently.

I can say you have had a big impact on me personally. I enjoy being a member of your community and following what you are doing. I love the fact that you work with people who want to take ownership of their situation. For me, that’s very appealing. Not everyone is going to latch onto your message but you can’t control that.

You have worked with the people that want to take responsibility and ownership of their own destiny, their family’s legacy, and their legacy. The other thing is there’s not only one way to do it. We’ve gone in-depth on two different ways to create wealth and passive income here but you are personally involved in many more, and that’s where the investor DNA comes in. We are going to have to have you back for a third time if we can make that happen.

We are always up for it. You are like-minded, and we appreciate being able to come on. I would love to drop this as an action step. To your point, if you are not the one taking action on your own financial future, who is? There is nobody who is going to take action for you and give you any result that is going to help you out of whatever it is you are facing.

What we did is we built a course where you can start the process, and it’s ultimately to find your goal. If you could identify what financial freedom looks like for you, how much easier do all the steps after that become? The problem is most people never stopped to dream because they are caught up in the minutia of each day. They don’t slow down. They keep going through this process.

Busyness can be a form of laziness. I don’t know where I read that. Mentally, it’s a little bit easier sometimes to stay busy.

Busyness is such a poor word. We have been talking this whole time about the investor DNA and what Joey was alluding to is we built a core set pathway for people to follow to be able to get access to it. If you go to WealthWithoutWallStreet.com/passport, you are going to get access to that Path Finder, which is where the investor DNA lives. You may not be ready for that. You may want to take the first step, which is understanding your vision and getting clear of what you would want to be, do, and have when you are financially free.

If you are like, “I want that investor DNA thing that they have. I would like to know what that is for me so that I can fast track my time to success,” we give you an option right there on that page. We invite you to that. Joey, you said this, and I’m going to disagree with you one more time as we finish this. You said that if you don’t do it, nobody else will.

We need to pass down this knowledge to our children so that they would learn from us instead of having to go out and spend tens of thousands of dollars to go to college, waste time and jobs. Click To Tweet

I disagree with that because there is a default mode. It will happen for you, regardless if you do it. It’s the status quo. My question and challenge are, “How’s that work so far? Has that got you to where you want to be?” If it hasn’t, then you are going to have to bootstrap this thing and move forward. Jamie, I appreciate you letting us come on.

Do you want to throw out any other contact information or anything like that?

That’s the best place to do it because once you sign up for those courses, you become a member of our community for free. We are open to the fact that you can DM us directly. In fact, we would love for you to tell us that you heard us on this show so that we know exactly that Jamie is not making up that he has a show. We would love you to hit us up there. That’s where we would spend most of our time.

Thank you so much, Joey and Russ. This has been awesome that you are an inspiration for everyone out there. For all of our readers, go out there and do some good deeds. Take care, everyone.

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About Russ Morgan

GDNI 183 | Wealth Without Wall StreetWealth Without Wall Street’s Founder and Partner, Russ Morgan, is known as “The Idea Guy.” Russ began his professional career as an investment advisor in 2004 after graduating from Auburn University — a slight foray from 10-year-old Russ’ dream of becoming a professional baseball pitcher. Russ started IBC in 2009, and eventually went on to found Wealth Without Wall Street in 2015. Russ’ mother was an enormous inspiration for him growing up. As a single mother with two young children, she took a rigorous, accelerated track through college while working multiple jobs, all with the goal of bettering her children’s lives. When he’s not working, you can wave to Russ on a boat at the lake pulling his kids around on a tube. And on Sunday mornings, he’s probably rushing to church with his family … only 10 minutes late.

Russ’ creativity, fresh ideas, and knack for problem solving are indispensable assets to his role at Wealth Without Wall Street. Russ would describe himself as competitive, creative, and passionate; his colleagues would likely add that he is helpful and abundant. Russ hopes to be remembered as an innovator who loved to teach others, and he has a goal to one day serve in the mission field. Finishing the book is another more near-term goal. Aside from Wealth Without Wall Street, Russ learns from the Business School podcast with Sharran Srivatsaa and Donald Miller’s Building A StoryBrand book and podcast. Aspire Movement, Campus Outreach, and Young Business Leaders are three causes near to Russ’ heart. Russ in one motto? “Just try!”

About Joey Mure

GDNI 183 | Wealth Without Wall StreetJoey Mure, Founder and Partner at Wealth Without Wall Street, brings impact, integrity, and generosity to the company every day. He hopes to be remembered as a lover of Jesus, devoted husband, and faithful father. Despite dreaming, around age 10, of becoming an orthopedic surgeon, Joey was in the mortgage business for 11 years before moving to finance in 2014. His personal mentor, Nelson Nash — another man of integrity and impact — is someone Joey deeply admires. Joey’s strengths in building relationships, asking great questions, and influencing and empowering people with the Wealth Without Wall Street message make him invaluable to the company’s mission. He is relational, impactful, and a true leader.

His colleagues would add that he’s thoughtful, funny, and a family man. Many people don’t know that Joey ate a 72-ounce steak dinner once. If he could be anywhere other than work, you’d find him at the beach with his family. And every Sunday morning, they’re worshipping the Lord. A lifetime goal of Joey’s is to impact the world for Christ; and a more near-term goal is to purchase a beach house for my family. Aside from Wealth Without Wall Street, Joey listens to Sharran Srivatsaa’s Business School podcast and Donald Miller’s Building A StoryBrand podcast. He’s happiest when he’s traveling with his wife or golfing with his girls. He cares deeply about Campus Outreach, Cru, Navigators, Sav a Life, Lifeline Adoption, and Young Business Leaders. His aims to live by the words “Trust in the Lord with all your heart and lean not on your own understanding. In all your ways acknowledge Him and He shall direct your path (Prov 3:5-6).”

 

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