FCP 085: How To Get Financial Freedom in 5 Years or Less with Clayton Morris

Jack: Hello, everyone, and welcome to another episode of “The Forever Cash Life Real Estate Podcast.” I’m super excited. Today, we’re going to talk about financial philosophy, financial freedom, how to get there in five years or less, right? Okay. Let’s get started in just a second.

Announcer: Welcome to “The Forever Cash Life Real Estate Investing Podcast,” with your host Jack and Michelle Bosch. Together, let’s uncover the secrets to building true wealth through real estate and living a purpose-driven life.

Jack: All right, so here we are again. Again, my name is Jack Bosch, and welcome to “The Forever Cash Life Real Estate Podcast.” I am super excited today to have with me a guest that is well known in the industry and on TV, Clayton Morris. Clayton, how are you today?

Clayton: I’m doing great, Jack. Thanks for having me on. And you were a great guest on my show a few months ago where we got to talk about land. So now, shoe is on the other foot today, so thanks for having me.

Jack: Wonderful. So thank you very much for coming onto the show. I’m super impressed by your credentials and what you’ve accomplished in life so far. Clayton has been on TV, on Fox TV, for how many years was that? Seventeen, 10 years or [crosstalk 00:01:17]?

Clayton: Yeah, I was on for 18 years on morning television around the country and, you know, living off of ramen noodles basically until I made it to the network. And so spent the last 10 years of my broadcast career on national television, on Fox News channel, then I retired at 40 years old, thanks to real estate investing. So yeah, no more waking up at 4:00 in the morning.

Jack: And that’s what we wanna talk about right now. It’s a perfect example of somebody who has used real estate while they had another job to free themselves from that job, even though that job seems like a job that is very glamorous, that a lot of people strive to be in, right? I’m sure there’s a lot of competition for that job.

Clayton: Well, yeah, you know, I think the misnomer is that, you know, when you’re in that employment category, you’re an employee, you’re still working for somebody else, it sounds glamorous, but you’re not benefiting in the way that you and I benefit as entrepreneurs. So even though I was making good money, you know, not NBA or NFL salary, but I was making good money as a morning news anchor, I still was working for somebody else, and I was passively investing in the stock market. And then I slowly started to transition and realize, “Look, you’re being taxed at like a 40% tax bracket when you’re working for somebody else, as an employee.” And doctors are in that same category. “Wow, you’re a doctor?” Yes, but you’re also probably financially illiterate. I mean, that’s part of the problem here, is that you might be a doctor and making great money, but you’re passively investing in mutual funds or this and that and you’re not building true wealth. You’re not using the tax code the way it’s meant to be used. And so, that was my transition to get out of that.

Jack: I can relate to that. When I came over to this country, I started working in a software consulting, like, one of these kind of fancy consultants, right? You go travel, you get to be in a hotel, you get to eat on the corporate accounts three times a day. Well, it led to me gaining 20 pounds in like eight weeks or something like that. And you’re not staying in the Ritz-Carlton, right? You’re staying in the Holiday [inaudible 00:03:31]. I stayed in the Holiday Inn Express and drove some kind of cheap rental car, and worked until midnight, so it’s sometimes not as glamorous as it looks like, of course.

Clayton: Yeah, no, it’s not. I mean, you know, and look, you work in morning television. It sounds great, it is and certainly, it’s a prestigious position. One minute I’m interviewing the president, the next minute I’m interviewing, you know, a senator, and so it’s nice. But you know what? Nice doesn’t pay the bills. Nice doesn’t really set you up for legacy wealth or forever cash. I mean, when I left and I’m retired, the other news anchors were, like, shocked that I was leaving. I was leaving the number one show in the world. And I was giving up my seat on this couch and they’re like, “Why are you doing that?” And I’d just reached a level where I’d said, “You know what? I have enough passive income from my rental properties, I’m gonna walk the walk now.” By leaving that, I become an active real estate investor. That is my main then career and then I’m taxed basically at 0% because of that. So, you know, people were shocked they didn’t understand it, “How can you leave something so prestigious?” And you have to explain it to them because this is the stuff they’re not taught in high school, you know?

Jack: Absolutely. Yeah Absolutely. Hundred percent. And yeah, particularly in a role like that. You answered my question I was about to ask. So now, tell us, how did you do it?

Clayton: Well, you know, when I was moving across the country, I was moving all across the country in the news business, and I left Los Angeles as a producer, moved to Helena, Montana, and I was making, I think, like, 28,000 a year or 25,000 a year. And I was going into debt on my credit card living in an apartment that I really couldn’t even afford. And so every month I was making, like, I don’t know, $575 and my rent was, like, $575, so that left nothing left over. But I always watched that I was renting from people. And so I was renting this apartment, this old Victorian house in Helena, Montana, and I noticed that the owner of the property, you know, I never saw him. He lived four hours away, or three hours away in Missoula, Montana. But I was mailing him money every month. And he had this investment, this performing asset that he didn’t live in, that I lived in, kept the heat on, and was paying him rent every month. And I noticed that as I moved across the country that, “Well, I’ve gotta figure this out.”

And I really grew up with a lot of negative associations with money. So I bet there’s a lot of people listening right now to your show that probably, you know, grew up with, “Money doesn’t grow on trees. We’re not the Rockefellers, we can’t afford that.” And so I had all these negative connotations with money, that I wasn’t worthy of it. And it wasn’t until I got comfortable thinking that, “You know what? Money can flow to me,” that I could become a steward of money, that money flows to the people that, you know, take care of it. And so I had to make a mental switch first before we even get into the strategy of, like, buying my first rental property. I had to make a mental shift first and start believing that I was worthy of money coming to me, and that’s when it all started. That’s how I got started.

Jack: And that’s such a true thing, like, it’s 90% that is in your mind and what comes from your mind, and then the execution is obviously important. But if you don’t think you’re worth it, if you don’t think you deserve it, then you never gonna take the first steps to create it. So very, very true. So now, tell us about, you now help other people also reach their freedom, and you have the Financial Freedom Academy and so on. And in that, whether it’s like… I like your concept of the freedom number because I talk about a similar kind of concept in terms of, like, what we built is a safety plan, comfort plan, and luxury plan inspired by Robert Kiyosaki, and which is kind of three numbers. Like, one number is like the worst case scenario, if I lose almost everything or if I can’t earn any more, what is, like, the minimum I need to live on and how can I make sure that is being passively produced? The other one is like the same number, just the same thing. It’s just a higher number, where I’ve been comfortable. And the other one is, like, luxury. So how does your concept work with a freedom number?

Clayton: Yeah. This was the thing that changed my life, honestly. And we give it away for free on our website, if anyone wants to grab it, just morrisinvest.com/freedom. So I’ll tell you the backstory because I think context is so important in everything that you and I talk about. When I had you on my show, you know, I wanna understand the context of how you arrived at this. Because I was sitting at home after I had two rental properties, and I was working in the news business making great money, and my wife comes downstairs and she says, “We can’t pay the mortgage this month.” I said, “I’m sorry, I’m a network news anchor, I have two rental properties, I don’t understand, like, what did we do wrong here?” And I had to sell stuff out of my closet. I had to find, like, some electronics that were in my closet and put them up on Craigslist. You know, I was like, “Oh my gosh.” And we did. We managed to pay our mortgage that month and I said never again. And my wife said, “You know, we have these two rental properties that we bought and they’re earning, you know, 900 bucks a month in cash flow,” like, we paid about 60,000 for them roughly after we did some renovations in the Midwest. “What if we had enough of those, that every month, we wouldn’t have to worry about your TV contract and be nervous about that?

What if we had enough of those that we have that safety net?” And I said, “Eureka.” So I will give her credit for planting the seed. I jumped up with my dry erase marker and she said, “Okay. I’m gonna go back to doing some laundry.” I said, “No, you’re not, we’re gonna figure this out.”” And that’s where the freedom number was born. So my number is kind of in the middle of your three numbers. It’s enough padding, about 10% padding so that you can go out to dinner here and there, you can take that trip. So most people, the reason I built the freedom number cheat sheet is because most people have no handle on their expenses at all. They have no idea their numbers, and we didn’t. And my wife, you know, master’s degree, brilliant, brilliant person. I’m fairly dumb, but you know, we couldn’t figure this out. We didn’t have our expenses handled. And so the first step in this process is to write down over six months, I want you to look at all of your expenses. And we’ll walk you through this in the cheat sheet, it’s three pages, and figuring out how much are you spending on average every month, and get rid of the holidays. That’s an anomaly. Focus on six months.

And what does that average? Groceries, gas. You think you spend this amount on groceries, I’m telling you until you put it down on paper, you’re wrong. You start seeing those numbers. So is it $5,000 a month that it would take for you to run your family and be totally protected? Then add 10% on top of that, and then we start to reverse engineer and figure out how many rental properties it would take for you to be covered. And for us, it was like 12 rental properties. We would never have to worry about a paycheck again. We’d be able to run our family, pay for school, groceries, gas, take a trip here and there, and be totally fine. Most people throw this artificial number out there, Jack. Most people are like, “I wanna be a millionaire.” And my point is, why? A million dollar is an artificial random number. But $5,000 a month for you, John Smith, and your family, would make you financially free, would have that safety net for you to be financially free and protected forever, and create that forever cash that you talk about. So that’s my number, kind of sits in the middle of those three.

Jack: Yeah, absolutely. And it makes total sense. And I 100% agree with you. Like, we could probably go into… We’re made from the same cloth on that end because that’s exactly what’s the epiphany for us, too, when we like working, I was working in a job, we’re barely making ends meet, and then, as we figured out our system, we’re like, “Okay. When we started doing these seller financing deals, started getting cash flow,” and it’s like, “Well, we only need 20 of them and we have all of our expenses paid. Oh my God, this is such a eureka moment.” And then over time, we transferred us over into rentals. So we have a bunch of rentals too that do exactly the same thing for us as they do for you. And they can do the same thing for everyone out there. So this is a beautiful, beautiful concept. So to summarize it, the concept is get away from that random number in your head. We had a team member in our office one time, that I would ask her, “Hey, in order to be truly financially free, how much money do you need?” And she threw out the number of $10 million. And I was like, “$10 million?” I mean, I won’t name her name, even though she no longer works with us, but it’s like, exactly like you said, “Why that number?” And that’s the number thing today, it’s like, “Well, I figured that I have enough to buy this, and buy that, and buy that.” Well, we did that exact exercise with her and she realized that her number was really more like, $6,000, $7,000 a month in order to accomplish almost all her dreams in her life.

Clayton: Well, that’s because people are coming from a different paradigm. I mean, I hate to use that word, but, you know, there’s a lot of talk lately about the FIRE movement, F-I-R-E, you know, the financial independence. And I just did a video on my YouTube channel about this kind of raging against people who don’t think you can do it. And one of those people, I mean, love her, I’ve read her books, I’ve watched her on her show for many years, Suze Orman. She talked about that the reason the FIRE movement or you can’t be financially free, you can’t create forever cash, you can’t create financial independence is because you need, I think she said some ridiculous number, I might be misquoting her, but it was either $8 million or $20 million, to live on for the rest of your life. It was some ridiculous number. The paradigm that she’s coming from that was totally wrong. She’s coming from the retirement account mentality, which was that you need to put this amount of money into a retirement account so that you can pull that out and live for the rest of your life. But I think the thing that you and I teach is, no, monthly cash flow, you know, that you’re able to depreciate and not pay a lot in taxes, that’s true financial freedom, not some Suze Orman $20 million artificial number.

Jack: Absolutely. So I heard a number of financial planners tell me that, “In order to make $100,000 on retirement from your retirement account, for perpetuity or until you, like, turn 100 or so, you need like $4 million in your retirement account.” That is the 1% of the United States that has $4 million into retirement account. I mean, I know guys that shared their financials with me, they’re making $400,000 a year and they don’t have $4 million in their retirement account, and they’re in their late 50s.

Clayton: Right. Because they’re in the employment category, right? They’re paying 40% to taxes. And they have a house that they live in, which is not an asset, right? So money is going out, liabilities. They probably drive a Porsche and whatever else that they’re spending on these liabilities. So $400,000 a year goes down the toilet pretty quickly when you’re not an entrepreneur and you’re not an investor.

Jack: That’s absolutely right because $160,000 of that or $200,000 goes to the IRS to start out with, and then all the other things that you just mentioned, and the money is gone. And they might put $50,000 off to the side a year, but that’s still gonna take you 80 years to get to $4 million. I mean, okay, it appreciates too when it goes up in value, but anyway, it takes you decades to get there. And so now you don’t need $4 million in a bank account like Suze Orman says. Suze Orman says… I agree, I have that same inkling with her about that. And I stopped watching your show because it’s just…

Clayton: Well, you know, it’s an old school mentality. It’s the, go to school, be taught by teachers that have never done what they say they’ve done, be taught by accounting teachers that actually haven’t been accountants, and they teach you in school to get a job and work for somebody else. So she is of that cloth, sadly. And so that $50,000 that your friend you said, you know, might even been putting aside, they’re probably putting it aside into, you know, the stock market or, you know, something that’s gonna have all kinds of volatility, and then wind up losing a big chunk of it, and they have no control over that.

Jack: But most people don’t make 400 grand, so they have, like, no chance to ever make that kind of money on their retirement account to live there. So instead, what you’re saying, and what I’m saying is, “Invest in real estate in a way that it creates passive income.” Now, another concept that you talk about is paying off your mortgage in five years. Can you talk about that for a moment?

Clayton: So, yeah, my wife and I wrote a book, and thank you to everyone who’s read it, and we became a best-seller, so thank you. It’s called “How to Pay off Your Mortgage in 5 years.” It’s on Amazon. And it’s a strategy that I’ve done multiple times. So you’ve kind of heard, maybe, the colloquial term “velocity banking,” which I only learned that term after many years of already having done this strategy. You know, it’s, like, when you like a certain kind of music, and then someone like a young kid comes along says, “Oh, you like ska music or you like…?” You know, when did that get a name? You know, so I love doing the strategy for many years. I did it back when I lived in Philadelphia many years ago, many moons ago. And the idea of the strategy is that, you’re trading financial products. And we teach you in the book how to look, and first of all, to understand what’s in your mortgage. Most people have no idea what’s actually inside of their mortgage. Most people have their insurance, and taxes being held, and paid for, you know, by the bank, which is a huge mistake.

Aren’t you a better steward of your money or would you rather have the bank making money off of your money to pay taxes and to deal with that? And when you actually look at all the hidden fees associated with your mortgage, you are empowered number, one. So first of all, we teach you that. What’s in there? To understand amortized interest versus simple interest. And one of the strategies we teach you is, you could leverage your retirement account. So if you are an employee and you have a retirement account, a 401(k), most people don’t know that you can borrow from it, not withdraw and get penalties, but borrowing from it. So we teach you that in the book, to be able to take out that chunk and be able to fire it right the principal balance of your mortgage, and then you completely alter the timeline in your mortgage. So we teach you that there are two enemies when it comes to a mortgage, time and interest, right?

And so we teach you to kind of go right after that and wielding these other financial products as swords in order to attack that. It might be buying performing assets, performing assets that perform, enabling you to pay off the principal on the liability that you’re living in. Also utilizing a home equity line of credit or other means of unsecured funding that you might be able to have access to with a much lower interest rate because we’re trading, again, financial products, one for the other, simple interest versus amortized interest. And so we kind of walk you through those details. We cut right to the chase and you know, it’s amazing. We’ve heard from so many people that have emailed us as a result of having gone through this program, and I get this… You know, it’s kind of like, what Dave Ramsey cut up your credit card moment, you know, and he sounds the alarm. We get emails from people that say, “We’ve paid off our mortgage by following the strategy.” And that’s the best feeling in the world because we want people to get out from underneath this enormous debt. You know, it’s a huge liability for people.

Jack: Wonderful. Yes. And that’s a strategy, so go make sure you get that book. I just got it on Amazon myself.

Clayton: Thank you. Thank you. And there’s a new edition. You know, we have the new edition, well, 2018, 2019 edition that just came out. It’s totally rewritten around the new Trump tax code as well to help you as well.

Jack: Oh, okay. Perfect. That’s great to know. So yeah, now, what do you do to continue your own financial education? So you, obviously, share the mind shift from the employee mindset to the real estate investor mindset, which I can only agree that even financial planners that… Like, even my own brother for that matter used to be a financial planner, and it took me years to really have him understand the real estate investment thinking. And finally, he’s like, “Oh my God,” because it’s such a different thinking. But once you have it, you’re like, you never go back to their side. But now what do you do to continue your own education?

Clayton: I think, obviously, I’m a learner. And I think that’s the difference between, you know, with people like you and me versus people who just, you know, they go to school, and they get out, and they never read another book. And they’re fine working that 9:00 to 5:00. I’m a constant learner. And so whether we’re reading textbooks or I’m taking a course I take, you know, courses, so like, I’ve taken your great course on land, which blew my mind, so taking great courses like yours, and really finding out what speaks to you. I found that as I’ve gotten older, the things that speak to me are the things that I’m most excited about, the things that I want to learn about. So I know taxes doesn’t sound sexy, but my wife and I have become, like, sort of obsessed with understanding the tax code and understanding how the tax code is written for investors, business owners that invest, that’s the golden ticket, right? When you’re a business owner that invests, the tax code is written for you.

You can pay zero dollars in taxes legally if you know how it works. You know, the government wants to partner with you to build companies, to develop affordable housing, to buy land, to develop land, to have clean water and energy. So if you know how it works and you educate yourself financially, then sky is the limit. So I make it a point that on my channel, on my Morris Invest YouTube channel. Like, my whole point of that show is financial intelligence. I want people to build financial intelligence. And I will spend the time reading the books. I read your book “Forever Cash.” I’ve read, you know, as many financial books as I can get my hands on. And I can argue the points. So I think I’m just a constant reader and a constant learner of taking digital courses, and just learning, and learning, and learning. That’s the only way to do it, right? And also talking to people. You have to have conversations with people like yourself and surround yourself with like-minded people who want to grow, and who are maybe in a better position than you are. That’s how you learn, too.

Jack: Absolutely. Great. So who is your inspiration out there in terms of financial savviness and in terms of financial success and so on?

Clayton: Well, you know, I think this might come out of left field. First of all, I’m a huge fan of Tom Wheelwright, a friend of mine who wrote…

Jack: Yeah. I know Tom.

Clayton: …”Tax-Free Wealth,” and he’s our tax advisor. So he’s become a really good friend and he’s a brilliant mind when it comes to taxes. So I would encourage everyone to read his book, “Tax-Free Wealth,” and there’s a new edition of that out. But from a spiritual perspective, honestly, that’s where I find I’m able to derive the most growth financially, is on a spiritual side because I come from, like I said, this place of fear around money and lack. And so somebody like Mickey Singer, who wrote “The Untethered Soul,” and, yeah, an amazing book. And he wrote that book during one of the darkest periods in his life. I mean, here he is, a billionaire. Okay? How did he do this? And he wrote another book, which is amazing, called “The Surrender Experiment,” which he devoted himself to not fighting, not going against the current, and going with the flow, and sort of surrendering to life because the universe is sort of showing you a direction. Are you there to pay attention to it? That’s why we’re here. Do you notice like, when you fight against things, it never ends up working out?

When you really push and like fight, and try to force something, it never really works for you. But when there’s, like, a flow and someone is showing you something, you just happen to stumble upon a new podcast, maybe you’re listening to Jack’s show for the very first time, it just popped up in your feed for some reason or a friend recommends it, there are reasons these things happen. And so I think when I’m able to be more in touch with that, and I spend time, you know, reading Mickey singer or Eckhart Tolle, Byron Katie, some more spiritual teachers around, you know, what’s going on inside of us, that makes me a better financial teacher because I’m able to help people connect in that way. And it’s not just about money. You have to be in touch with yourself first and understand where you’re going before you can even be a good steward of the money, the actual physical paper dollars.

Jack: Absolutely. I love that by the way. And it’s, again, very similar, both books you mentioned, I’ve read, I love them. Eckhart Tolle’s books I’ve read. Like, I have on audiobooks, one of Eckhart Tolle books is always there, and always when I do longer rides, I just listen to it for like 20, 30 minutes. And Just always, it brings you back to, like, what matters most in life. And when you go back to what matters most in life, everything else falls into place much easier anyway, and you don’t force things anymore. I absolutely agree with that. So what are your three highest priorities in life?

Clayton: To be present. Since I was a little kid, I’ve been throwing sort of pennies and fountains asking for peace. That’s all we really want. And I really found that, you know, in your 20s and 30s, you’re going after money, and, you know, the girl and all those. When it really comes down at the end of the day, I wanna be able to sit peacefully on a chair or a park bench, and be present, and not have a device in my hand that’s buzzing, voice in my head that’s distracting me, some sort of ego-based voice that’s driving me one way or the other. I’d like to be able to sit and just get those few moments every day. I sort of journal about that every day. If every day I can get a few moments, then maybe the next day, I can get a minute, and then two minutes, and then three minutes of peace. So to have peace and presence is the most important thing to me. I also think being able to help others, and serve, and teach, and help lift other people up as much as I can.

Nothing is of greater satisfaction to me than having someone write to us on our YouTube channel or wherever it is saying, you know, this was able to help them buy their first rental property or get out of debt in some way. So to be able to sit in the presence and teach, and then ultimately, at the end of the day, to be present with my family. What else is there? You know, I think to be able to sit and build a business that serves me, serves my family, so that I can travel and to enjoy them because those moments go by so fast. And if you don’t pay attention, you don’t see them, then what’s it all for? You’re gonna be 80 years old, glad that you made an extra $200,000, but you didn’t get to see your kids smile because you were on the phone. You know, those are my goals now. Quite different if you’d asked me when I was 25 years old.

Jack: No. Absolutely. They’re very much different. And now how does the concept of making money fit into that piece, and being into that present kind of concept?

Clayton: That’s a great question. I’ve asked myself a lot lately. We went through a real difficult time in our business last year with a company that we worked with, that basically defrauded us, lied to us, and we had to report them. It was a whole, you know, terrible situation. And, you know, they pulled the wool over our eyes and all of that. And I said, you know, “What if we didn’t have any of that?” And if you come back to sort of Eckhart Tolle, the idea of, “Okay. Would I be okay if I didn’t have anything? I just sat on a bench, and I just had some clothes on my back, and a meal here and there, would I be okay?” And the answer is,” Yes, you would be.” So then if you have that kind of perspective on things, then for me, I want any money I make from my company to be intentional so that I’m not doing something just for the sake of money, partnering with someone just for the sake of partnering, or doing something just to make money. I want it to be intentional, and that that money that hits our bank account, I feel good about it at a soul level. And that’s kind of everything… I have people that email me all the time, they wanna partner this, do this, this, and I have to say, it doesn’t fit, it doesn’t make sense. And I could make way more money if I wanted to, but that’s not worth it. And I’d rather have that kind of quiet time or the money that comes into my family is right. It’s correct, at a certain level for me.

Jack: Right. Yeah, I love that. I love that, and I resonate with that, too, from a point of view of… For me, I do associate money with peace or so, with peace of mind because there is, just like you said, once you know that these rental properties, or in our case, also rental properties, or apartment complexes, in our case, or cash flow from land, comes in really forever and covers all your bills plus a buffer, you’re starting to…that stress level that money can bring into a lot of people’s lives and you don’t have enough to pay the rent or don’t have to have enough to pay the mortgage, or you have a big medical bill, and that just goes away. Like, the other day I had to go to the emergency, I mean, I had a little health scare, it was nothing, absolutely nothing, it was false alarm, but I checked myself just to make sure. I checked myself into the ER and I received a $2500 bill, right? Well, for most people, and for a lot of people, that would be a big problem.

But it’s like, no because money is abundant, and it brings, and it comes in, and it’s done in the right way. Again, we made the commitment to [inaudible 00:30:04], everything we do has to be transformational in the lives of other people. All right, whatever we touch needs to be transformational, therefore intentional, right? So I agree 100% with you, just put different words to it. I was totally at ease going to the hospital, just having checked out, it was nothing, and then paying $2500 for it, then it’s like, “Okay, well, to go to page.” Write a check, done. But money, in this case, was able to bring health, peace of mind, financial peace of mind, and other peace of mind. It doesn’t make happy, but it helps with a lot of these items to just take them out of your life and allow you to live without having to make compromises, that you otherwise are tempted to make because of a lack of money.

Clayton: I absolutely agree. I think the key though to that is that because you’re exactly speaking my language on that, I think you still have to be right with money. I think you still have to know that you are now a good steward of it, money flows to those who take care of it. So if you still come from a place of lack, you start making a lot of money, you’re gonna start to lose it quickly. You’re gonna start making mistakes, you’re gonna start making ego-based mistakes, greedy mistakes because you’re still not a good steward of it. And so I think, you know, you like me, money flows through you. You can’t hold on to it, it flows through you. And if you realize that you’re sort of like a conduit, then… I had to get great with that. And then money can create a healthy peace of mind because you’re already set in that way.

Jack: Right. Absolutely. I agree with you. So you need to be right with money. Yes. I like that way of wording it, too. And that’s a hard one for a lot of people so chew on that. If you’re watching this or listening to this on iTunes, join us a little bit. How can you be right with money? What does this even mean to you? And I mean, you explained what it means to you that… Can you say one more time perhaps what it means to you?

Clayton: Well, with me, for money, you know, it has to be intentional. And I think when you are right with where you wanna be in your life, you’re passionately working on that woodworking project because that’s how you wanna spend your afternoons, money flows to you. And you’re not stressed about it. When you’re doing and you’re lined up intentionally with who you are, then money comes to those people, and it follows those people. When you come from a place of abundance, if you come from a place of lack, you’re putting up a wall, it’s like a vibrational wall, and money’s not gonna come to you. And by the way, if it does, you win the lottery, I witnessed this. I lived in West Virginia and a guy won the lottery twice, and he had the money stolen from him twice. I mean, you know, because he wasn’t right with money. So you have to be right with it, otherwise, you’re gonna lose it.

Jack: That abundance mentality is a big one. And then what we have done, for example, is we have built for our company, we have built core values around our beliefs, not just about money, but our beliefs of who we’re willing to do business with in order to keep money right, in order to keep our integrity with ourselves right. And if somebody that is out there, that wants to do business with us, but that doesn’t fit our core values, and doesn’t fit our mission and vision, we’re just not gonna do business with them because it’s not all about money. It’s not about money, it’s about living a life to the fullest. And when you do that, money comes to you. So right. So wonderful. So, Clayton, that was beautiful. Thank you very much. I’m glad we touched some of the subjects that are not only money related, but they’re just as important to the money, or even if perhaps even more important, in some regards, than just the hard facts about, how do you buy a property and so on? There’s plenty of information about that on there. There’s not that many conversations about, like, we just had. So thank you very much for that. And thank you for your openness there.

Clayton: Well, thank you, Jay. Thank you for having me.

Jack: So with that, well, I have just one last question for you. And that is, for somebody who is just, like, an absolute beginner, stumbled into this podcast or stumbles across your podcast, and he’s in this mentally mindset, but we cracked something open and they’re like, “What? There’s another way?” What do they do, how they can find…? Well, first, how can they find you? You already mentioned it, but then, what would you recommend to them they do in order to kind of figure out what’s right for them and figure out how to get started?

Clayton: Well, my wife and I just published a video on this exact subject this week, “How to get started in real estate investing, part 1.” We’re gonna do a multi-part series on this because we get a lot of people that come to our Morris Invest YouTube channel, and they start or they’re getting started, and they watch some of our early videos, and they ask, they’ll send messages like, “Okay. How do I take that next step? How do I, you know, get over that hurdle??” And so we kind of walk people through mentally how to prepare, how to get right with your finances first, how to really, you know, focus on that with them. We’re prompting you to take action. But we’re gonna set you up for success. We’re gonna make sure, like, you do in teaching your land courses, you know, that there are certain things obviously, pitfalls you wanna avoid, and we teach you those. And if you can minimize those pitfalls, we want you to understand that you’re still gonna make mistakes. That’s what it’s all about. We want you to make mistakes kind of quickly. And so we kind of show you, there’s a way to minimize these little mistakes. But look, if you own 50 rental properties, you’re gonna have one that you overpaid for. You’re gonna have a contractor that duped you. You’re gonna have a roofer that didn’t show up and you paid them. You know, these are things that are going to happen. So we kind of teach people… I would encourage people to go to that video and kind of start there and send us a message. We try to respond to everyone on our channel. So, anyone who has a question, we try to really, really help you get over that hurdle.

Jack: Wonderful. Well, thank you very much. I appreciate that. So guys, go check it out. And with that, I wanted to thank you, Clayton, again, for being on the show. And everyone else, this concludes another session of “The Forever Cash Life Real Estate Podcast.” So see you soon. And again, if you enjoyed this, give us a five-star review. Give us also a little description underneath and we love the more reviews we have, the more we can spread the word. So do that right now on iTunes, and then we’ll see you soon. Thank you very much. Bye-bye.

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