Loral Langemeier, affectionately known as "The Millionaire Maker", is living proof that wherever you start in life, you can live the life of your dreams. Loral is a money expert, speaker, 5-time New York Times best-selling author, Owner & CEO of Integrated Wealth Systems, and avid real estate investor. She has appeared on various shows and channels like Dr. Phil, The View, CNN, CNBC, Fox News and in articles in USA Today, The Wall Street Journal, The New York Times and Forbes Magazine. In this episode, we talk about how she changed the trajectory of her life through relationships with others to earn her first million and beyond.
In this episode, hosted by Mike Swenson, we discussed:
00:00 - Intro and overview on Loral’s career
4:30 - Her mindset about money
10:13 - Loral's step by step process of some of those opportunities that have opened up
11:52 - Loral's overview about taking risk
22:34 - The summary of her portfolio and multifamily investments
27:36 - Her Advice of those people wanting financial freedom
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👉🏼 Go to http://www.justmetloral.com/freedom for some freebies from her including "The Millionaire Maker" book and other great items!
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Full transcript here:
Introduction: Welcome to the REL Freedom Podcast, where we inspire you to pursue your passion to gain time and financial freedom through opportunities in real estate. I'm your host, Mike Swenson. Let's get some REL Freedom together.
Mike Swenson: Alright. Welcome, everybody to the REL Freedom Podcast, and today we have a very special guest. We have Loral Langemeier, Laurel is known as the “Millionaire Maker”, 5-time New York Times best-selling author, entrepreneur extraordinaire, a personal development coaching, extraordinary, and also avid real estate investor. We're just going to take some time and have you share your journey and what you've built, all the companies you've grown, and then talk about real estate as well. We're so excited to have you on.
Loral Langemeier: Yeah, thank you. It's great to be here. Real estate is hot, well, everything is hot. You know, Mike, I'm calling this the most indiscriminate crash we've ever had in the history of our lives for sure. It's a fun time if you're on the right side of that conversation.
Mike Swenson: Yes. Loral, for those folks that might not know who you are, or haven't heard about you, why don't you just take a minute or two and share a little bit about your background and how you got to where you're at today?
Loral Langemeier: Oh, well, thank you. So I grew up on a farm in Nebraska. Like most people who grew up in that kind of area, you don't grow up with P&Ls and balance sheets. My dad was a farmer rancher and when things are tough, my mom became a caterer and cake decorator for foreign weddings and this very traditional,-- you know, didn't know a lot. I'll say that. I mean, compared to what I know now, I mean, we're getting ready to get on airplanes. Anyway, fast forward, 17 was given the book “Think and Grow Rich”, which was my big pivot. Mentored by the best in the world. Bob Proctor was probably the most significant prominent mentor in my early 20s, mid-20s, who introduced me to Kiyosaki, then in 1996 I became the master distributor of the cash flow game as part of the rich dad advisory team with the good old grades, Dan Kennedy, Dr. Rues, Keith Cunningham, and the original team. Sharon Lechter and I have stayed dear friends, and I call her my financial mom because there are so few women that are supporting other women and have a formal structure to mentor women, and money, or wealth, or any of those categories. I know in 1999, I became a single mom. And because he didn't want to be a dad, it was pretty simple. So that's what my son who's now 21 and it was interesting looking for anybody who could help. I just reached knowing Bob, Sharon, and Robert, and they just introduced me to everybody else, and away we go, and how did I get real estate? It's pretty much part of the cash flow game and I started real estate in the 1997’s, that was my real kind of toe in the water, scary stuff. Probably a lot of your listeners are going oh my god, you know, think I'm gonna do it alone. 1999 I called somebody very significant, pay them a lot of money. And I said I got nine months to be a Millionaire, get in real estate. And he's like, you are a little sassy. You don't do what I say. I said I will do everything you say, I promise I'd mind myself, why not says I’m not having a baby. So I did it in six months. He said beat me to the Glimmer City in Oklahoma and Norman, Oklahoma, that whole area is my millionaire market. And still today, Ed is down there. The broker who helped us get it all done. I raised the capital and I had no idea, Mike, how to raise money. So the message is a lot get mentors, get on a team. Don't do this by yourself.
Mike Swenson: Yes. And, interestingly, you mentioned Robert Kiyosaki because, the game changer book for me about money was Rich Dad, Poor Dad. I still remember it was my eye doctor. I think it was my first semester after I got back from college, and I was at home, maybe it was Thanksgiving, or Christmas, or whatever. I went to the eye doctor because that was the only eye doctor I had at the time. And so he had mentioned,-- I don't remember what we were talking about. Oh, because I majored in Entrepreneurship. That was my major in college. And I was telling him about that. And he said, “have you read this book, Rich Dad, Poor Dad?” And I said, “No, I hadn't”. And so that was the game-changer for me to think differently about money. You know, I grew up in a small town in Southern Minnesota, and the mindset was, get a good job that pays you benefits. And so my world was rocked being in this as an Entrepreneurship major, being around other people that are going to start bosses. And I always thought well, but what about the consistent paycheck starting? What about health insurance? And so it's taken me a long time to change my mindset around money, but that was the key start for me.
Loral Langemeier: Yes, I think it was for a lot of people. You know, people say, Well, how did you become, you know, Loral, and how did this all start? It started selling somebody else's stuff. And so many people want to jump and just be immediately successful. There's some runway I mean, think about how much time we spend in university, right? I got a finance degree too. Because I had an investor job for like, one minute I went to an investment bank, and I thought, Oh my God, this whole job thing exactly right. Nebraska, Southern Minnesota, not too different from the way we were raised. And I was like, this cannot be my life. I mean, I was like 21 you know, like, this cannot be my life these people get up and do this all day. So I didn't know what else to do. So I went back to school to do what I loved, which is working as a basketball player too, I noticed your basketball trophies behind me. Yeah,--
Mike Swenson: Yeah. big sports fan.
Loral Langemeier: Yeah, I was a big basketball player. So I thought, well, hell with that, I'm just going to go get a Master's degree in Exercise Physiology, because at least I know what I could do as an entrepreneur over there. I didn't know what to do in finance. So then all that kind of came together and I left Chevron for the Kiyosaki organization. So you put Bob Proctor Kiyosaki,-- I got to give Sharon credits because you know, she is the high writer and editor of all those books. And then you just get into this space of you know, Think and Grow Rich, and Mark Victor Hansen, and Brian Tracy became a client then the dear friend and Les Brown's good friend, all these guys are buddies now, we're doing business together. It's like, this is how it works. The mentoring of entrepreneurship, and you know that during the school too, is we're not taught this, I mean, my son's going to Georgia Southern right now, in fact, in a couple of weeks, I'm going to zoom into his entire football team, I'm doing a course, it’d be fun for you since you're a sports addict, too, well to top that line. And I'm going to do basic training for financial fitness. Because a lot of you know, as you know, in college, especially guys that are getting ready and prepared for the league, they have no idea how to do the basic, so I don't want it to be about that. But that is my charity, and my heart is for teens, beause you know my son going to school, he's a triple major. He's like, Mom, I'm not learning a thing that you've taught me. I'm learning how to be a finance manager and accounting manager how to be a CPA, how to be a certified manager, he’s-- I'm not learning what you're learning, I'm learning how to run somebody else's company not to have my company, which when he was 18, how serious I am about these kids when my son turned 18, guess what he got for his birthday? An LLC. You know, it's like, you're an adult, here we go, this is adult land. So I think the parents who need to learn and people that are watching, need to get started, and if real estate your path, it was mine and I love it.
Mike Swenson: Yeah. Well, it's interesting, because I've always thought too, as I hear people talk about higher education. My wife knows full and well that I'm serious. When I say, if our kids want to start a business out of high school, instead of going to college, I'm open to the conversation. I mean, they need to be responsible, they need to have a plan and have it figured out. But if you look at what you're paying for higher education versus what you're paying to run and start a business, there's certainly an opportunity there. And so I see the value in that now has been an entrepreneur and grown businesses over time like there's a lot of value there versus going what people feel is the right route, which is traditional education.
Loral Langemeier: Right. And you know, people say, I can't believe a lot of people look at my life and say,--and shocked that my kids are, you know, my daughter's goal is MIT, right. She wants to be the greatest architect in the world. I mean, she played that Minecraft game. She's unbelievable what comes out of that brain?
I think the school has its place. Absolutely. I mean, I went through forever and be an entrepreneur. I think it's both conversations, especially in this tax world. If you look at what's going on in the tax world, you-- If you want to minimize legal taxes, your company has to make money, not you. You're the one who is an individual getting taxed. And I'm a master at this part, I mean because I just have amazing CPA teams that are side by side. So again, my organization now isn't me, it’s me and 28 financial experts from CPAs, to security lawyers to real estate experts, cannabis, you know, cryptocurrency, you name it. I have restaurants, I've got all sorts of assets. I am part of a Broadway play. Oh, you'll love this one, Mike. It was the year 2019, I'm one of the eight owners of the Be. There's the Raider nation when the Raiders went from Oakland to Vegas, that fan base is a company. It's a company where people pay memberships for. We have sponsorships, we have tailgate parties, and there's a lot of money in that. It's the finest asset bought into, which came out of a really bad CBD deal. And I said, I don't want to end up in court, we'll be here forever. You know, what asset do you have that you don't like, and that's really how more sophisticated-- and he's like, Oh my god, I have this thing. It's called the Black Holland I'm like, well, let's go check it out. Anyway. So that's how I acquired that. I said, Alright, I'll take a bad CBD deal. I'll take that deal. And we're on fire, especially now that it's in Vegas. Oh my gosh, it's so much fun.
Mike Swenson: So why don't you talk a little bit about, where you're at today. Like, you just spouted off all these companies, all these ventures, and all that. And people always want to know, the question is how does that happen? And I know you said you started, you aligned yourself with some great people that put you in a space to do some of these deals. But how does that work? I know people are always looking to push the easy button and as you know, there's not an easy button but walkthrough, you know, working as a distributor for Robert Kiyosaki and others to now all sudden, how does that lead to kind of you know,-- maybe a little bit of a step by step of some of those opportunities that have opened up as a result of you nailing it in the opportunity you were in at that time.
Loral Langemeier: Yes. So I had no idea what I was doing. I mean, when I was at Chevron, I was a lead exercise physiologist, I was building fitness centers in blue-collar environments, offshore oil rigs, refineries, you know, Kazakhstan, Russia, I mean, I had such a different life and identity. And I just knew I wanted back to the finance space. And I was reading and consuming. And Bob introduced me to Robert Kiyosaki. And again, you don't get the mentors you can afford, you get the mentors you know who is going to do this, open this thing up. This thing is like a gift. People say, Why do you like gold? I said, you know, who's in here? I mean, we have people in here that most of you, I mean,-- you'd be shocked they have phones. Anyway.
It's probably one of the-- I didn't plan it, I don't come out of Nebraska thinking, “Oh, my gosh, I'm gonna go find mentors”. Like that didn't happen that way, I was actually at a basketball camp, who led me to another more leadership kind of a camp, which I honestly was pouting the whole time going, what the hell am I doing here? And it was one woman who said, “Have you wrote the book, Think and Grow Rich”? And I'm like, no. And literally, I skipped the entire camp. I read it overnight. I called Bob Proctor the next day. And she made sure he took my call. And that's how things work for people. And I just want to emphasize that because-- almost every one of my clients has this. And if they need something, they can text me, if they need a call, I jump on. And I think a lot of people think people that are certain level or status of influencer are not available, and that's not true. Like I found my way to the people I needed and wanted every time and I still do. So I think it's critical because of all of that. Then Bob introduced me to Kiyosaki and then I flew to Phoenix around Sharon Lechter’s kitchen table with her husband, my collectors, my lawyer, we made a deal. And I started just do,-- I'll never forget, she's like, “Do you know how to distribute the game?” I'm like, “Yes”. You know, it's like, I have no idea. But again, I think the psychology that you need to be listening for is, I wasn't going to go do all the work. See, I think a lot of times the beginner, you think you have to do all the work because you're occupationally trained, you have to go get a job and you have to do the job. You don't have to do the work as an entrepreneur you need to build the team.
I can tell you it took me a little while but again, who did I call once I had that opportunity? I got the opportunity, I got it contracted and then I called my team and I said you know, where do I go and I flew to Chicago tonight and Galconi because they were the ones that were distributing a lot of products right? They were like the volume house. So I just got on their mailing list watch what they did and then I just recreated it. I found a mailing house, I put it in order, I went to the bank and I said I need a half-million dollars to order books in games. And they're like, What the hell are you doing? This is before KSI, this is 1997. I’ll never have the banker going, you're going to do what you're leaving a six-figure job at Chevron, like a big big corporation to follow a Japanese guy in a game. Have you lost your freaking mind? I said you know what, if it doesn't work, something else will work. So away we went. And I ordered a ton of games because I wanted the database, there is your golden ticket. I don't know why I did it, It was this intuitive thing of I need to talk to these people. I can't just send an order to a warehouse that Robert owns then I don't get the name because, I'm always very like this, want my phone number? I mean, I'm a texter. I love connecting with the person. You know, staying away, you know, I'm gonna introduce you but don't talk to me it drives me crazy, people choose that path. I don't like that path. Anyway, so fast forward, I had 15,000 people in my database within three years. And I wasn't doing anything with them, but selling games, games, books, books, you know, and then I got Brian Tracycritical as I said, Keith Cunningham, I would just sell a ton to other people stuff, there are 15,000 people sell to, right?I sold Jim Rohn stuff before he passed away. Anyway, so that trajectory has a lot of lessons in it. Then when I got to the real estate because I had the database, I went to my mentor who said use your database, and I'm like, What do you mean? And he said, raise money. I'm like, you have no idea that was like worse than Sharon Lechter and saying I lied to her I could do a game I’m like, I want to raise money. And he said I do, here's a lawyer, you're gonna go. So we set up emails, we set up webinars, this is in 1999. I was so scared to do it, Mike, and I think that’s the part like the biggest lessons are just kept freaking moving. You know, do not stop, don't analyze, don't sit behind a whole bunch of books and tapes, even though I have five New York Times you can read them. But I can tell you this is going to get you just as much value. What's going to get you the ideal value is to read my books come educated to my call. And then let's have a conversation. Because now I know that you have that education behind you. And I did do that I read, I have a library. I don't even know how many thousands of books. So I would always go to my mentor highly educated about their content. I wouldn’t go and say oh, you read a book, but I've never read it how ridiculous like that. You look. So I think [inaudible 14:42:00] interesting that you asked me this question because I haven’t thought about this a long time, like how I got there. I did a lot. I gave a lot. I shared a lot. I sold a lot. I didn't overuse my database and when the moment was right, and the right person told me we made $16 million, Mike in six weeks. $16 million out of my 50,000 person database and I had never done it before. But again, it's the connections. It's the team that brought that all together. And we put all that to work in Oklahoma City in Norman, Oklahoma. I learned to buy volume, I learned to flip apartments. I learned to appreciate apartments. I didn't know what the hell I was doing. Those were some of my first steps. But I was on the streets, I was pregnant, a single, I didn’t care. I just took one of the apartments, I stayed there. And everything he told me to do, I did. And I didn't know what I was doing. I mean, every morning that’s how we started our day, what do I do now? Now, what do I do now? what do I do? I mean, hell, I can do anything. Now I can read contractor subs, I can--. But those six months where I became a millionaire in Oklahoma, it was defining and I do all my investing that way, like, I don't know how to run a Broadway play. I don't know how to run a black hole, I find people to do it. And I think that is where a lot of you where you're sitting in your home thinking I want to do my first real estate deal. Well, I give him a little homework, here's all my beginner homework. If you want to do a real estate deal, I want you to put a contract on a piece of property for the next 21 days. You don't have to buy a damn thing. I want you to get to the streets where the deals are done. Because unless you start reading contracts and getting comfortable with counts, writing contracts, can't have done- don't be known for it. Don't do it casually. I mean, heck, if you have a great deal call, Mike, call me, say, help! I got a deal. Right. So that's that trajectory. And so I don't do the expert work. I mean, when I become an expert, it is the deal structure. I become an expert at capital raising, I become an expert at gathering teams. I don't do the work, like I'm on a team right now with Aviation people and they're like, well, we need you to go out to the airport and do all that. I'm like, No, no, that is not my-- like stay in your lane, I guess is the other, once yotoow your lane in the thing you're in like you said, a lot of you know, who never gets crowds in this real estate space, are the people behind the brokers, the people behind the investors, too much work those people do, like my EA, with my team behind me, Oh, my God, like the doing that they do at my leadership, I wouldn't be here without them. So I always want to give those people credibility, because not a lot of people recognize the team that helps you get here.
Mike Swenson: Yeah, well, I think the key thing too is, you have to be willing to take the risk. You know, we talked about there's a reason why my logo for my podcast is it's this guy jumping off of a house towards the word ‘Freedom’ because part of leaping is you have to let go of what you're currently holding on to, to get to where you want to go. And you know, I work with real estate agents all the time, and I can't tell you how many times I've heard him say, “I've always wanted to get into investing, and I just haven't figured out how to yet”. And I'm like, “Are you kidding me, you have access to the MLS where all the deals are, you have unlimited information at your fingertips to go find this stuff, and the reason you haven't done it is what?” and they have to be willing to take that risk and do it. Even if you lost money on the first one, even if you lost a ton of money on the first one, it's going to help you for the second, it's going to help you for the third. But then like what you're saying, putting a team of people around you is, if I buy a property to fix up, I'm not the one necessarily that's going to be out there on Demo Day tearing everything out or thrown at everything in the dumpster. It's finding good people to help leverage your time. So you got to be willing to take a risk, and you got to be willing to put good people around you.
Loral Langemeier: Absolutely. And I'm going to go one more place because you know this in real estate, you got to be willing to fire him too, right, especially in rehabs. I mean right now. So what am I doing today in real estate? So,--
Mike Swenson: Yes, let's talk about that.
Loral Langemeier: Yeah, I partnered with a couple who became multimillionaires. They were clients of mine for about three years. They ran a family organization, it was them and their three children. They were in Montana, they moved to Boise, Idaho, the fastest demrket. And it's Kristy Constructions and they started building houses and building a building and then became an event client of mine for years. We restructured them a lot to an equipment company and just restructured the structure of how it's going to be a better growth pattern for them. And then a year ago, in January they asked my husband and me, my husband is also out of Canada, big construction, very high-level construction. His company was called Boulevard Exteriors. So very high level, his average job was you know, three to 400,000 just to do the outside in Canada, which is great. So we partnered with them and now we're building like $258 million. So we are buying land. we're sending people out, you know, around the nine, you know, areas of the Treasure Valley to buy land. Money is so available right now. So we're locking in land contracts all over the place while the teams are coming behind and building, my husband runs the crews or growing the crews. So we're building and we're moving out a single-family. Oh my gosh, people are so picky. It's like, can we just build for plexes, put up four walls, put four units overcharge $16000 each, and let's get this show on the road. So we are moving.-- I know they as a family love the customization and Becky just loves the interiors. I'm like, we aren't living here. So I still haven’t--. We don't give a shit about the sink, Becky, Let's go. We have fun, I mean, we do have a great time but we are moving to fourplexes, we're moving to triplexes Opportunity zones, and mainly land development where we're just going to be selling back to builders. There's so much going on right now, with what the coasts are doing. I'm just going to point to California New York, what they are doing to their state, right, our error-pummeling people. So the influx to the end. I mean, I don't know if you're seeing it in Minnesota, but I know we're seeing-- I mean, it's not just Boise. I mean, they're moving to Texas. I got clients buried in Texas with business. Vegas, Reno, I mean, work, it's crazy around here, the amount of land being bought up. So everybody's moving inland, Real Estate's hot, I don't care where you are. But to that point, you said take a risk, I'm gonna say, even if risk means to walk out that door and get to the streets, get out. I mean, yes, all the information’s right here, but I can tell you, there's another thing to do, which gets next to the local contractors, maybe go work for one for a while, get close to the next, you know, if I am sitting where you're sitting listening to me, you should be asking, Hey, Loral, What would I do today? Here's what I would do today, I'd walk out and I'd go find your top 10 builders in town, I find your 10 top contractors, I'd find the investors, I wouldn't find the brokers and agents like they're a different breed. That's a different night. I want to know the people with the money, the people doing the deals I just found in town. And I got to put a bid on some of the builds of big manufacturing homes and putting that deal together. 2500 new homes and he's got the land he’s doesn't want to build. Well, I'm gonna put the team together. I'm gonna take a part of it. Do I know exactly how it's all gonna turn out? No. So that's the other lesson. You can't be you know,-- I think because we're so occupationally trained, Mike, right. Your brain goes to I need the whole plan before I move. I know when I worked at Chevron, it drove me crazy. They need the whole damn plan, every detail has been done before they let me just go. It's like, No, you got to go. You just got to get into it. The path will show itself. I’m not saying be irresponsible by any means but no actions, no action. And sitting here not putting a contract on anything is ridiculous. And once you get the contract, then you'll be shocked to see who's going to come from that community to want to work with you. The subs, they'll show themselves to you. They'll say, you know, do you need a painter? Do you need a, you know, demo crew? Do you what Who do you need they’ll come to you. And I think that's the big gap for a lot of beginners, don't you Mike? I think they're just so scared and they're not out, nobody knows who they are.
Mike Swenson: Yeah, that makes a lot of sense. So looking up today than just to get a grand view of your real estate investments. What were that look like all over the United States, multi-family, single-family? What's kind of the summary of your portfolio?
Loral Langemeier: Mostly multi-family where building and developing in Boise because it's such a demand market and that's what the partner you know, that's what they did. Different partner. We're in Kansas City. We're in Springville, Kansas, we're in Topeka, Kansas, redoing massive apartment complexes, expanding them upgrading them. We also that same team, went to the Ozarks a couple of years ago when Jimmy Buffett bought the Tarrytown resort, and we bought houses-- big mistake and Airbnb. When you buy a house to remodel it for an Airbnb, remodel for what the purpose is. When you go to the Ozarks, you don't hang out in the damn house. Where do you hang out? On the water, right? I grew up waterskiing down there, that’s where we always went from Nebraska, you hang on the water. So instead of putting money into the house, what we did is we carved the rooms to fit 21 of our houses, I can't believe we did it fits 20 people to sleep. And all the money went to the dock, to the bar, to the sound system. We bought that property has boats, jet skis, toys, I mean, it is rented for such I mean, we're in the two to 3000 depending on how many people spend, sometimes been on the season four to 5000 a night. And because they're buying an experience of 20 people,-- they're not sitting up there, we made it easy to get the booze down to the bar, easy to get the booze. We made it easy. I mean, we're killing it down there. So Airbnb in the Ozarks and several of the properties now go north of a different partner right on the river of North Kentucky, and Cincinnati. So notice I keep saying, that's what they do, they live and breathe that, what do I bring to them, I can bring them, investors, I can bring them-- and a lot of times like, especially in the Ohio market, he is a very big broker and very political. So he is more into management. So he's managing the army thousands of doors. So a lot of our clients who just signed out that weren't-- they just want to come in and buy 16 units, they want to buy 24 units, so I'll just have to matchmake right. So sometimes they'll say, you know, why don't you stay in the deal. You know, we feel safer with the deal. I said I don’t know I feel safe from the deal, that he's gonna do all the work. So I just kind of acquire as you know, I see deals, so I'm probably in about, I say eight states right now, mostly on multi-family.
Mike Swenson: And how much of it then is are most people coming to you with the deal? Are you actively pursuing people or it's just the connections you have people know you're always looking for something so they say hey, Loral, I might be interested in this?
Loral Langemeier: Yeah, I usually it’s through people that I've known before, that I know can produce because I don't want to introduce, somebody, whether I'm in the deal or not a lot of times I think that's the other mistake people think I'm in every deal, I'm not. I’m very selective about what I get into. So, you know, Suzy, who's a client, has an investment and wants to make a deal and Jesse's got the deal. That's just a deal that I introduced, so a lot of times it's through my client base, which is I have an enormous mentoring practice. I do have people, like tonight, as somebody who's got 100 acres in Jamaica, I'm interested and I know that you know, I don’t know if you remember, the old name Russ Whitney, but he's a good old buddy of mine. He and Ron the grand and the guys down in Florida, that is their wheelhouse. That's especially Ross that's a project he'd love to do. He's already building you know, a massive one in Costa Rica. So it's kind of a combination you know, I’m my eyes open. I think timings probably a bigger thing why people say, Well, she didn't look at mine, or did he get interested? You know, it depends on what I'm doing. Like right now I have massive real estate, I bought a bunch of lands and I have the marijuana licenses in mid-Nevada, which is in the middle of nowhere. It's area 51, quite frankly. And I have to get-- that team has got to get seeds in the ground. I got to build. So like if anybody pitched me right now, I'd be like, I've got too much going on. But you pitch me in the fall once I got through that. So I think you know, it's just timing. It’s timing, I think the biggest thing is to pursue, right? Just stay in the game, stay connected to the people you want to follow, and be mentored by. I think it's different. I know the thing I bring to all of my relationships is my single mom factor. I mean, I've been married to Jason now from- who's from Canada- for five years, but pretty much I raised my two kids on my own. So to be able to do it, I think a lot of families come to me and say,-- I mean, get it like-- this is the funniest thing. I get a lot of families who come to me about how to hire help, how to build the team, they don't know how to hire and hiring and firinareis expensive, and it's a pain in the ass, it is so much. I mean, especially when you get close to your children. That has to be a right hire, and quick and right and fast. And I know how to do it. I have just completely known those real houses. I know that sounds kind of odd. But I know some of those things just keep people stuck.
Mike Swenson: So talk for a quick second then. Let's just say I'm a normal agent right now in real estate, and I want to grow to become a millionaire eventually. What would you say to kind of the average agent listening to this podcast saying, How do I gain financial freedom? And right now I'm helping people buy and sell homes?
Loral Langemeier: I love that question. That is a great question. Mike, I’ve never asked that and I love giving this advice. I do have a lot of agents coming, but they're not doing what I'm saying. So they kind of avoid they're like, what Loral does, and it's not about what Loral does, that’s what I can teach you. So the answer to that question would be found-- I would say find the means but I'm, you know, kind of a different, you know, character in the community, I would market myself as an agent to support investors. And because investors are going to buy multiple properties from you, so you're not doing the 1 1 1 1 1s, I will get inside of this conversation as fast as you can. And here is the trillion-dollar tip, not the million-dollar tip, get in the deals. And if you don't know how to get into deals, I'll show you how to get into deals. And if your broker says they can't, we'll add the broker and they can get in the deal, too. So it is not illegal to do that. How many agents and brokers-- there are more and more agents that say, you know, I can't get and deal with my client? And it's like, oh, yes, you can. And I'll show you how to structure deals. So when you become the agent for investors, I mean, the guy in Boise, he was sort of like that, but I can promise you in the last 15 months working with me, he has shifted his model. And he is getting all of our business because he was willing to shift his model to be the agent, we needed him to be, right, not who he wanted to be, who we needed him to be. And I would find a pool of investors, I would specifically do a campaign, I would host an event and if you don't have an event area, find a title company, find somebody who's got a conference room. And I was specifically using the conference room, I would bring in investors, I would give them coffee, whatever, you know, and just introduce yourself. This is who I am, this is who I've been, this is what I can do for you. And if they want to call me and they want to know how to put the deals in the capital together, I'll be that other part of the team. And I don't need to keep stuff I can just you know, be hired in and out to help them do it. But agents are golden right now. And I just see them missing it all the time. I think they're sitting right on gold, and they don't know how to mine it. So that's how I would mine it. I would go find the investors in town.
Mike Swenson: Awesome. So for those folks that have, you know, this message has resonated, they're inspired by you and all that you've built and they want to learn more, how do folks get a hold of you?
Loral Langemeier: So we put a gift page together, I call it my virtual swag bag now. It is a gift that has nine different things in it. It has some it has my Millionaire Maker Book, which is like our signature book, so that's on the event book form. It has two different kid’s programs. One is called ‘Never Pay Your Kids an Allowance” because when you pay your kid an allowance, it's like a paycheck. So there's no tasks or association to tasks are different. So for example, like when my son got a new teenage year, you know, washing a car and cleaning out the cars is a different task with more money than, you know, taking out the trash. So the kid needs to negotiate anyway, cool program teaches your kids to be the little entrepreneurs. I have also a whole-- put more cash in your pocket. How do you do all this? Like it's the beginner stuff, it's all the beginner stuff. I have real estate as leveraged, which is my core what it's,-- I lay out all the strategies of real estate because a lot of times too, Mike, people look at real estate and they don't know what strategy to pick because there's so many, I could tell you, well, different podcasts we could do. if you do this, so I might be walking right on your toes. But wholesaling is not how you should start. I think rehabbing is how you should start. I think you buy the little dump in town and you rehab it, you have a hell of a lot more control than trying to find a buyer and a seller and a date and all, like wholesaling sounds easy. Flipping I think is way easier. I've made way more money and flipping than trying to orchestrate a wholesale but other people do that. So I have a whole program on Real Estate as Leverage and how to pick your strategy and how to get started. How do you pick your team how to interview your team is all in that so I have a whole bunch of goodies you go to justmetloral.com/freedom for you.
Mike Swenson: Awesome. Well, thank you so much. I appreciate you sharing the vast wisdom that you have with us. And you're such an inspiring person. Thank you so much for giving back to our community and sharing. Certainly appreciate your time and for folks, listening goes to that link. We'll put it up on the screen, we'll put it in the show notes here so that you can go get some valuable information and learn from Loral and you know, eventually maybe reach out to her and work with her in the future.
Loral Langemeier: Awesome. Thanks, Mike. I appreciate being here and lI look forward to hearing from all of you.