May 8, 2019

Understanding and Implementing Cash Flow Management, with Ron LeGrand

Episode 50:

You may know Ron LeGrand as the real estate guy. He’s been at it for 36 years and has bought and sold well over 3000 houses without using his money or credit, and he’s taught hundreds of thousands of people to do the same and still do to this very day. Ron still teaches classes all over America and does live deals with students everywhere he goes.

What you’ll learn about in this episode:

  • Why having money in the bank doesn’t necessarily mean your business is profitable, and why profits and cash flow aren’t the same thing
  • How to determine your necessary monthly cash flow, and why it is vital to pay yourself first
  • How to find your business’s fixed monthly operating expenses, and how to determine what is a fixed expense and what is a variable expense
  • Why you should never, ever spend your incoming money before you actually receive it and it becomes your money
  • Why you should keep a separate account to make monthly deposits into, so that you can use those funds to pay taxes and insurance
  • Why borrowed money isn’t profit but is a means to an end to make a profit, and why
  • Why income is the key to feeling rich, and why multiple income streams are important to building wealth
  • Why you should ask yourself “what can I do to create a passive monthly income stream?”
  • Why Airbnb is a fantastic income stream that requires little work and has strong potential for growth
  • What other cash flow streams Ron has created for himself, and why the longer you own a house the more money you’ll make

Additional resources:

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