{"version":"1.0.0","segments":[{"speaker":"Average Joe Finances","startTime":0.2,"endTime":0.74,"body":"Hey everybody."},{"speaker":"Average Joe Finances","startTime":0.74,"endTime":3.26,"body":"Welcome back to the Average"},{"speaker":"Average Joe Finances","startTime":0.74,"endTime":3.26,"body":"Joe Finances Podcast."},{"speaker":"Average Joe Finances","startTime":3.265,"endTime":6.92,"body":"I'm your host, Mike Cavaggioni"},{"speaker":"Average Joe Finances","startTime":3.265,"endTime":6.92,"body":"and today's guest is Adam"},{"speaker":"Average Joe Finances","startTime":6.92,"endTime":8.59,"body":"Carroll with the shred method."},{"speaker":"Average Joe Finances","startTime":8.79,"endTime":10.98,"body":"I'm super excited to"},{"speaker":"Average Joe Finances","startTime":8.79,"endTime":10.98,"body":"have Adam on the show."},{"speaker":"Average Joe Finances","startTime":11.13,"endTime":13.8,"body":"I actually got a chance to speak"},{"speaker":"Average Joe Finances","startTime":11.13,"endTime":13.8,"body":"with him at the real estate"},{"speaker":"Average Joe Finances","startTime":13.8,"endTime":16.56,"body":"wealth builders conference and"},{"speaker":"Average Joe Finances","startTime":13.8,"endTime":16.56,"body":"watch his presentation there."},{"speaker":"Average Joe Finances","startTime":16.76,"endTime":18.68,"body":"This is gonna be a real"},{"speaker":"Average Joe Finances","startTime":16.76,"endTime":18.68,"body":"treat for everybody."},{"speaker":"Average Joe Finances","startTime":18.685,"endTime":20.36,"body":"I really hope you guys enjoy this one."},{"speaker":"Average Joe Finances","startTime":20.36,"endTime":22.16,"body":"So Adam, welcome to the show."},{"speaker":"Average Joe Finances","startTime":22.36,"endTime":22.63,"body":"Mike."},{"speaker":"Average Joe Finances","startTime":22.63,"endTime":23.47,"body":"Thanks for having me."},{"speaker":"Average Joe Finances","startTime":23.47,"endTime":26.76,"body":"I'm excited to chat with you"},{"speaker":"Average Joe Finances","startTime":23.47,"endTime":26.76,"body":"and to provide some awesome"},{"speaker":"Average Joe Finances","startTime":26.76,"endTime":27.81,"body":"content for your tribe."},{"speaker":"Average Joe Finances","startTime":28.01,"endTime":29.42,"body":"Yeah, this is absolutely awesome."},{"speaker":"Average Joe Finances","startTime":29.42,"endTime":32.75,"body":"I am super excited to talk with"},{"speaker":"Average Joe Finances","startTime":29.42,"endTime":32.75,"body":"you as well, especially to share"},{"speaker":"Average Joe Finances","startTime":32.75,"endTime":35.69,"body":"everything that you're doing and"},{"speaker":"Average Joe Finances","startTime":32.75,"endTime":35.69,"body":"how you got to where you are today."},{"speaker":"Average Joe Finances","startTime":36.05,"endTime":37.07,"body":"It's, an amazing story."},{"speaker":"Average Joe Finances","startTime":37.07,"endTime":39.17,"body":"And I really think my audience"},{"speaker":"Average Joe Finances","startTime":37.07,"endTime":39.17,"body":"is gonna appreciate it."},{"speaker":"Average Joe Finances","startTime":39.17,"endTime":42.94,"body":"So with that being said, Adam,"},{"speaker":"Average Joe Finances","startTime":39.17,"endTime":42.94,"body":"if you could share a little bit"},{"speaker":"Average Joe Finances","startTime":42.94,"endTime":44.41,"body":"about yourself, share your story."},{"speaker":"Average Joe Finances","startTime":44.41,"endTime":45.91,"body":"How did this all get started for you?"},{"speaker":"Average Joe Finances","startTime":46.14,"endTime":47.339,"body":"Where did the shred method come?"},{"speaker":"Adam Carroll","startTime":47.539,"endTime":50.23,"body":"Yeah candidly Mike, I"},{"speaker":"Adam Carroll","startTime":47.539,"endTime":50.23,"body":"was in the mortgage business for a"},{"speaker":"Adam Carroll","startTime":50.23,"endTime":55.989,"body":"number of years and I stumbled into the"},{"speaker":"Adam Carroll","startTime":50.23,"endTime":55.989,"body":"mortgage business because to be perfectly"},{"speaker":"Adam Carroll","startTime":55.989,"endTime":59.699,"body":"transparent, I got my wife pregnant and"},{"speaker":"Adam Carroll","startTime":55.989,"endTime":59.699,"body":"I was trying to build a business at the"},{"speaker":"Adam Carroll","startTime":59.699,"endTime":63.72,"body":"time and she's no, I'm not gonna have"},{"speaker":"Adam Carroll","startTime":59.699,"endTime":63.72,"body":"two babies at home while you galavant"},{"speaker":"Adam Carroll","startTime":63.81,"endTime":65.95,"body":"around, try to build a speaking business."},{"speaker":"Adam Carroll","startTime":65.95,"endTime":68.01,"body":"And that was the"},{"speaker":"Adam Carroll","startTime":65.95,"endTime":68.01,"body":"environment that I was in."},{"speaker":"Adam Carroll","startTime":68.21,"endTime":70.43,"body":"And a friend of mine"},{"speaker":"Adam Carroll","startTime":68.21,"endTime":70.43,"body":"called one day and he."},{"speaker":"Adam Carroll","startTime":70.63,"endTime":74.37,"body":"Hey man, there are people in"},{"speaker":"Adam Carroll","startTime":70.63,"endTime":74.37,"body":"the mortgage world wholesaling."},{"speaker":"Adam Carroll","startTime":74.57,"endTime":78.54,"body":"So I was a wholesaler for a large"},{"speaker":"Adam Carroll","startTime":74.57,"endTime":78.54,"body":"mortgage firm and I would go out and"},{"speaker":"Adam Carroll","startTime":78.54,"endTime":81.62,"body":"I would call on brokers trying to"},{"speaker":"Adam Carroll","startTime":78.54,"endTime":81.62,"body":"write mortgages for their company."},{"speaker":"Adam Carroll","startTime":81.82,"endTime":84.55,"body":"And I was pretty good at it cuz"},{"speaker":"Adam Carroll","startTime":81.82,"endTime":84.55,"body":"I'm a natural relationship builder"},{"speaker":"Adam Carroll","startTime":84.55,"endTime":86.38,"body":"and I really enjoyed the industry."},{"speaker":"Adam Carroll","startTime":86.58,"endTime":91.365,"body":"But, what hit me in all honesty,"},{"speaker":"Adam Carroll","startTime":86.58,"endTime":91.365,"body":"Mike was, I was watching broker."},{"speaker":"Adam Carroll","startTime":91.565,"endTime":92.765,"body":"Five point people."},{"speaker":"Adam Carroll","startTime":92.965,"endTime":97.335,"body":"But it's when they charged five percentage"},{"speaker":"Adam Carroll","startTime":92.965,"endTime":97.335,"body":"points on a mortgage origination between"},{"speaker":"Adam Carroll","startTime":97.335,"endTime":99.855,"body":"like yield spread and, origination."},{"speaker":"Adam Carroll","startTime":100.055,"endTime":106.105,"body":"So I was watching these people do a"},{"speaker":"Adam Carroll","startTime":100.055,"endTime":106.105,"body":"$200,000 refi of couples on a fixed income"},{"speaker":"Adam Carroll","startTime":106.305,"endTime":108.195,"body":"and they would charge 'em $10,000 to do."},{"speaker":"Adam Carroll","startTime":108.395,"endTime":110.165,"body":"And I was just sickened"},{"speaker":"Adam Carroll","startTime":108.395,"endTime":110.165,"body":"by the whole thing."},{"speaker":"Adam Carroll","startTime":110.165,"endTime":113.935,"body":"So I got into the mortgage business as"},{"speaker":"Adam Carroll","startTime":110.165,"endTime":113.935,"body":"a broker, trying to do the right thing."},{"speaker":"Adam Carroll","startTime":113.935,"endTime":118.225,"body":"And for three years built what I called"},{"speaker":"Adam Carroll","startTime":113.935,"endTime":118.225,"body":"the first socially responsible mortgage"},{"speaker":"Adam Carroll","startTime":118.225,"endTime":120.024,"body":"company in the state that I lived in."},{"speaker":"Adam Carroll","startTime":120.224,"endTime":124.144,"body":"And at the time one of my loan officers"},{"speaker":"Adam Carroll","startTime":120.224,"endTime":124.144,"body":"came to me and he said, There's this"},{"speaker":"Adam Carroll","startTime":124.144,"endTime":125.824,"body":"piece of software, you have to check out."},{"speaker":"Adam Carroll","startTime":125.824,"endTime":129.174,"body":"It helps people eradicate"},{"speaker":"Adam Carroll","startTime":125.824,"endTime":129.174,"body":"their mortgage and record time."},{"speaker":"Adam Carroll","startTime":129.374,"endTime":132.044,"body":"And at the beginning I thought"},{"speaker":"Adam Carroll","startTime":129.374,"endTime":132.044,"body":"why would I want to do that?"},{"speaker":"Adam Carroll","startTime":132.244,"endTime":135.394,"body":"My goal was to get refis and"},{"speaker":"Adam Carroll","startTime":132.244,"endTime":135.394,"body":"purchase money and all of that."},{"speaker":"Adam Carroll","startTime":135.594,"endTime":137.004,"body":"And then I realized the power of it."},{"speaker":"Adam Carroll","startTime":137.204,"endTime":140.024,"body":"And when I started using it"},{"speaker":"Adam Carroll","startTime":137.204,"endTime":140.024,"body":"for myself, Mike, I was hooked."},{"speaker":"Adam Carroll","startTime":140.024,"endTime":144.074,"body":"And then that was all I wanted to talk"},{"speaker":"Adam Carroll","startTime":140.024,"endTime":144.074,"body":"about was how to use this, to help build."},{"speaker":"Average Joe Finances","startTime":144.274,"endTime":144.934,"body":"I love that."},{"speaker":"Average Joe Finances","startTime":144.994,"endTime":145.834,"body":"Absolutely love it."},{"speaker":"Average Joe Finances","startTime":146.034,"endTime":147.674,"body":"And I'm, a little spoiled, right?"},{"speaker":"Average Joe Finances","startTime":147.674,"endTime":150.964,"body":"Because I got to hear you speak"},{"speaker":"Average Joe Finances","startTime":147.674,"endTime":150.964,"body":"at the conference just hearing you"},{"speaker":"Average Joe Finances","startTime":150.964,"endTime":154.204,"body":"say it all again, just how that all"},{"speaker":"Average Joe Finances","startTime":150.964,"endTime":154.204,"body":"culminated to where it is today."},{"speaker":"Average Joe Finances","startTime":154.404,"endTime":157.694,"body":"Just the story of how you were trying"},{"speaker":"Average Joe Finances","startTime":154.404,"endTime":157.694,"body":"to build something else up after"},{"speaker":"Average Joe Finances","startTime":157.694,"endTime":160.594,"body":"getting your wife pregnant, and"},{"speaker":"Average Joe Finances","startTime":157.694,"endTime":160.594,"body":"you said, Hey, I gotta do something"},{"speaker":"Average Joe Finances","startTime":160.594,"endTime":165.994,"body":"different, got into the broker business"},{"speaker":"Average Joe Finances","startTime":160.594,"endTime":165.994,"body":"and realized that, Hey, these guys"},{"speaker":"Average Joe Finances","startTime":165.994,"endTime":167.914,"body":"are overcharging people sometimes."},{"speaker":"Average Joe Finances","startTime":167.914,"endTime":168.514,"body":"And this, yeah."},{"speaker":"Average Joe Finances","startTime":168.934,"endTime":170.254,"body":"It's not something I wanna be a part of."},{"speaker":"Average Joe Finances","startTime":170.454,"endTime":174.164,"body":"So I really appreciate your moral"},{"speaker":"Average Joe Finances","startTime":170.454,"endTime":174.164,"body":"compass throughout this whole thing."},{"speaker":"Average Joe Finances","startTime":174.164,"endTime":178.644,"body":"So it just goes to the, just who"},{"speaker":"Average Joe Finances","startTime":174.164,"endTime":178.644,"body":"you are genuinely as a person."},{"speaker":"Average Joe Finances","startTime":178.844,"endTime":184.004,"body":"So with that being said if this is"},{"speaker":"Average Joe Finances","startTime":178.844,"endTime":184.004,"body":"something that is so effective and, can"},{"speaker":"Average Joe Finances","startTime":184.004,"endTime":188.224,"body":"really help so many people, why don't"},{"speaker":"Average Joe Finances","startTime":184.004,"endTime":188.224,"body":"more people know about the shred method"},{"speaker":"Average Joe Finances","startTime":188.224,"endTime":191.574,"body":"or I know there's other terms for it, like"},{"speaker":"Average Joe Finances","startTime":188.224,"endTime":191.574,"body":"velocity banking and things like that."},{"speaker":"Average Joe Finances","startTime":191.579,"endTime":193.254,"body":"So why don't more people know about this?"},{"speaker":"Adam Carroll","startTime":193.454,"endTime":193.694,"body":"Yeah."},{"speaker":"Adam Carroll","startTime":193.934,"endTime":197.524,"body":"This is a question that comes up"},{"speaker":"Adam Carroll","startTime":193.934,"endTime":197.524,"body":"whenever I start talking about it and"},{"speaker":"Adam Carroll","startTime":197.724,"endTime":201.204,"body":"I have a couple of kind of boiler plate"},{"speaker":"Adam Carroll","startTime":197.724,"endTime":201.204,"body":"answers and I also have a gut feeling"},{"speaker":"Adam Carroll","startTime":201.204,"endTime":203.264,"body":"of why more people don't know about it."},{"speaker":"Adam Carroll","startTime":203.464,"endTime":208.314,"body":"And my boiler plate answers are, it's"},{"speaker":"Adam Carroll","startTime":203.464,"endTime":208.314,"body":"known as the Australian mortgage."},{"speaker":"Adam Carroll","startTime":208.314,"endTime":209.614,"body":"It's known as velocity banking."},{"speaker":"Adam Carroll","startTime":209.814,"endTime":212.749,"body":"There's a lot of different names"},{"speaker":"Adam Carroll","startTime":209.814,"endTime":212.749,"body":"and varieties of how it's done."},{"speaker":"Adam Carroll","startTime":212.949,"endTime":214.089,"body":"So it's out there."},{"speaker":"Adam Carroll","startTime":214.249,"endTime":218.439,"body":"People don't really go searching for"},{"speaker":"Adam Carroll","startTime":214.249,"endTime":218.439,"body":"complex mathematical strategies on"},{"speaker":"Adam Carroll","startTime":218.444,"endTime":220.329,"body":"how to eliminate compound interest."},{"speaker":"Adam Carroll","startTime":220.529,"endTime":224.099,"body":"But, the real answer, my gut level answer"},{"speaker":"Adam Carroll","startTime":220.529,"endTime":224.099,"body":"of why more people don't know about it"},{"speaker":"Adam Carroll","startTime":224.299,"endTime":231.169,"body":"is, the banking industry is so adept and"},{"speaker":"Adam Carroll","startTime":224.299,"endTime":231.169,"body":"so strong at marketing that if when, you"},{"speaker":"Adam Carroll","startTime":231.169,"endTime":235.999,"body":"start to realize what is being sold to"},{"speaker":"Adam Carroll","startTime":231.169,"endTime":235.999,"body":"the consumer it's hard not to see it."},{"speaker":"Adam Carroll","startTime":236.199,"endTime":237.549,"body":"I've made this distinction before."},{"speaker":"Adam Carroll","startTime":237.549,"endTime":241.019,"body":"It's like being in the matrix and it's"},{"speaker":"Adam Carroll","startTime":237.549,"endTime":241.019,"body":"like morphia saying, you can have the"},{"speaker":"Adam Carroll","startTime":241.019,"endTime":244.264,"body":"red pill and knowledge will be opened"},{"speaker":"Adam Carroll","startTime":241.019,"endTime":244.264,"body":"under to you, or you can take the"},{"speaker":"Adam Carroll","startTime":244.269,"endTime":245.524,"body":"blue pill and you'll wake up tomorrow."},{"speaker":"Adam Carroll","startTime":245.704,"endTime":246.604,"body":"Nothing ever happened."},{"speaker":"Adam Carroll","startTime":246.804,"endTime":248.634,"body":"I took the red pill some time ago."},{"speaker":"Adam Carroll","startTime":248.834,"endTime":254.044,"body":"Now when I watch marketing and advertising"},{"speaker":"Adam Carroll","startTime":248.834,"endTime":254.044,"body":"and people talking about buying things and"},{"speaker":"Adam Carroll","startTime":254.244,"endTime":257.909,"body":"taking out debt and doing all that, there"},{"speaker":"Adam Carroll","startTime":254.244,"endTime":257.909,"body":"definitely is good debt and bad debt,"},{"speaker":"Adam Carroll","startTime":258.109,"endTime":262.929,"body":"but the majority of us have taken on debt"},{"speaker":"Adam Carroll","startTime":258.109,"endTime":262.929,"body":"that we could eradicate really quickly."},{"speaker":"Adam Carroll","startTime":263.049,"endTime":264.909,"body":"We just, we pay no attention to it."},{"speaker":"Adam Carroll","startTime":265.109,"endTime":268.699,"body":"And we take it for granted that what the"},{"speaker":"Adam Carroll","startTime":265.109,"endTime":268.699,"body":"bankers are giving us is the right thing."},{"speaker":"Adam Carroll","startTime":268.699,"endTime":269.449,"body":"It's the good thing."},{"speaker":"Adam Carroll","startTime":269.449,"endTime":270.289,"body":"It's what we need."},{"speaker":"Adam Carroll","startTime":270.389,"endTime":275.249,"body":"And I was sitting with a, shred client"},{"speaker":"Adam Carroll","startTime":270.389,"endTime":275.249,"body":"last night and she goes, you just"},{"speaker":"Adam Carroll","startTime":275.249,"endTime":276.689,"body":"see all this differently, don't you?"},{"speaker":"Adam Carroll","startTime":276.889,"endTime":279.049,"body":"And I said, I do, and I can't unsee it."},{"speaker":"Adam Carroll","startTime":279.049,"endTime":281.439,"body":"And once you see it, you"},{"speaker":"Adam Carroll","startTime":279.049,"endTime":281.439,"body":"won't be able to unsee it."},{"speaker":"Average Joe Finances","startTime":281.639,"endTime":282.389,"body":"Yeah, absolutely."},{"speaker":"Average Joe Finances","startTime":282.589,"endTime":285.529,"body":"It's, funny cuz the next question I"},{"speaker":"Average Joe Finances","startTime":282.589,"endTime":285.529,"body":"have for you I, think I already know"},{"speaker":"Average Joe Finances","startTime":285.529,"endTime":289.059,"body":"the answer to, because of what you're"},{"speaker":"Average Joe Finances","startTime":285.529,"endTime":289.059,"body":"talking about with how, banks out"},{"speaker":"Average Joe Finances","startTime":289.059,"endTime":293.799,"body":"in market and just the way that they"},{"speaker":"Average Joe Finances","startTime":289.059,"endTime":293.799,"body":"advertise their different products."},{"speaker":"Average Joe Finances","startTime":293.999,"endTime":297.039,"body":"But I would think that still"},{"speaker":"Average Joe Finances","startTime":293.999,"endTime":297.039,"body":"being able to take out a HELOC"},{"speaker":"Average Joe Finances","startTime":297.064,"endTime":298.559,"body":"is still a product from the bank."},{"speaker":"Average Joe Finances","startTime":298.799,"endTime":302.119,"body":"So why don't banks advertise"},{"speaker":"Average Joe Finances","startTime":298.799,"endTime":302.119,"body":"this type of strategy?"},{"speaker":"Adam Carroll","startTime":302.349,"endTime":304.699,"body":"First of all, to"},{"speaker":"Adam Carroll","startTime":302.349,"endTime":304.699,"body":"understand the banking system,"},{"speaker":"Adam Carroll","startTime":304.899,"endTime":306.579,"body":"the bank takes in deposits."},{"speaker":"Adam Carroll","startTime":306.779,"endTime":310.259,"body":"And I'm sure your audience knows this in"},{"speaker":"Adam Carroll","startTime":306.779,"endTime":310.259,"body":"intently, but I'm gonna share it with you."},{"speaker":"Adam Carroll","startTime":310.459,"endTime":311.839,"body":"The bank takes in deposits."},{"speaker":"Adam Carroll","startTime":312.039,"endTime":316.589,"body":"They loan out those deposits times 10,"},{"speaker":"Adam Carroll","startTime":312.039,"endTime":316.589,"body":"it's called fractional reserve banking."},{"speaker":"Adam Carroll","startTime":316.789,"endTime":321.549,"body":"And so if you put $10,000 into the bank"},{"speaker":"Adam Carroll","startTime":316.789,"endTime":321.549,"body":"in a savings account, and you've done"},{"speaker":"Adam Carroll","startTime":321.549,"endTime":325.469,"body":"that under the guise of doing the right"},{"speaker":"Adam Carroll","startTime":321.549,"endTime":325.469,"body":"thing, cuz you need six to 12 months"},{"speaker":"Adam Carroll","startTime":325.529,"endTime":327.059,"body":"worth of living expenses in the bank."},{"speaker":"Adam Carroll","startTime":327.259,"endTime":329.719,"body":"The banker is taking your 10"},{"speaker":"Adam Carroll","startTime":327.259,"endTime":329.719,"body":"grand and going and loaning"},{"speaker":"Adam Carroll","startTime":329.719,"endTime":331.339,"body":"out a hundred thousand dollars."},{"speaker":"Adam Carroll","startTime":331.539,"endTime":336.779,"body":"At somewhere between five at this"},{"speaker":"Adam Carroll","startTime":331.539,"endTime":336.779,"body":"0.5% and 25%, if it's a credit card"},{"speaker":"Adam Carroll","startTime":336.979,"endTime":339.799,"body":"and they're making money hand over a"},{"speaker":"Adam Carroll","startTime":336.979,"endTime":339.799,"body":"fist on the money that you have just"},{"speaker":"Adam Carroll","startTime":339.799,"endTime":341.359,"body":"sitting there in, in a savings account."},{"speaker":"Adam Carroll","startTime":341.509,"endTime":346.329,"body":"Meanwhile, you have a long compound"},{"speaker":"Adam Carroll","startTime":341.509,"endTime":346.329,"body":"interest mortgage, you have a five"},{"speaker":"Adam Carroll","startTime":346.329,"endTime":349.289,"body":"to seven year car note, you have"},{"speaker":"Adam Carroll","startTime":346.329,"endTime":349.289,"body":"a credit card that most people"},{"speaker":"Adam Carroll","startTime":349.289,"endTime":352.379,"body":"make minimum payments on, so it's"},{"speaker":"Adam Carroll","startTime":349.289,"endTime":352.379,"body":"stretched out long into the future."},{"speaker":"Adam Carroll","startTime":352.579,"endTime":357.489,"body":"And so what the bank has done very adeptly"},{"speaker":"Adam Carroll","startTime":352.579,"endTime":357.489,"body":"is they've said, just hold onto this."},{"speaker":"Adam Carroll","startTime":357.689,"endTime":361.189,"body":"Just keep it this, you don't have to pay"},{"speaker":"Adam Carroll","startTime":357.689,"endTime":361.189,"body":"it off, just hold onto it for long term."},{"speaker":"Adam Carroll","startTime":361.189,"endTime":362.959,"body":"The interest rate is so low."},{"speaker":"Adam Carroll","startTime":363.159,"endTime":364.599,"body":"Why would you ever pay it off?"},{"speaker":"Adam Carroll","startTime":364.799,"endTime":368.139,"body":"And yet the interest rate"},{"speaker":"Adam Carroll","startTime":364.799,"endTime":368.139,"body":"is not what's at stake here."},{"speaker":"Adam Carroll","startTime":368.139,"endTime":371.969,"body":"It's the balance that interest"},{"speaker":"Adam Carroll","startTime":368.139,"endTime":371.969,"body":"is charged on that is at stake."},{"speaker":"Adam Carroll","startTime":372.169,"endTime":375.579,"body":"So someone who says to me this is"},{"speaker":"Adam Carroll","startTime":372.169,"endTime":375.579,"body":"the cheapest money I'll ever have."},{"speaker":"Adam Carroll","startTime":375.579,"endTime":377.979,"body":"My 2.7, 5% mortgage."},{"speaker":"Adam Carroll","startTime":378.179,"endTime":380.309,"body":"And I go, yeah, probably really good deal."},{"speaker":"Adam Carroll","startTime":380.309,"endTime":383.989,"body":"Like you got a great interest"},{"speaker":"Adam Carroll","startTime":380.309,"endTime":383.989,"body":"rate, but it's on $700,000."},{"speaker":"Adam Carroll","startTime":384.189,"endTime":387.279,"body":"So there's still money that's"},{"speaker":"Adam Carroll","startTime":384.189,"endTime":387.279,"body":"being charged against this."},{"speaker":"Adam Carroll","startTime":387.479,"endTime":391.049,"body":"And the majority of that money is charged"},{"speaker":"Adam Carroll","startTime":387.479,"endTime":391.049,"body":"at the beginning of your mortgage."},{"speaker":"Adam Carroll","startTime":391.249,"endTime":395.179,"body":"So what if we could turn the tides on"},{"speaker":"Adam Carroll","startTime":391.249,"endTime":395.179,"body":"that mortgage and how long you're gonna"},{"speaker":"Adam Carroll","startTime":395.179,"endTime":399.489,"body":"have it and actually get to a point where"},{"speaker":"Adam Carroll","startTime":395.179,"endTime":399.489,"body":"there's more equity being created sooner."},{"speaker":"Adam Carroll","startTime":399.689,"endTime":400.829,"body":"That's the power of this."},{"speaker":"Adam Carroll","startTime":400.829,"endTime":405.399,"body":"And that's the thing that most people,"},{"speaker":"Adam Carroll","startTime":400.829,"endTime":405.399,"body":"they don't realize that the HELOC is"},{"speaker":"Adam Carroll","startTime":405.609,"endTime":407.319,"body":"used for that or could be used for that."},{"speaker":"Average Joe Finances","startTime":407.519,"endTime":407.729,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":407.929,"endTime":408.679,"body":"That's a big thing."},{"speaker":"Average Joe Finances","startTime":409.039,"endTime":411.649,"body":"One of the things I wrote down as you"},{"speaker":"Average Joe Finances","startTime":409.039,"endTime":411.649,"body":"were talking about that, because as"},{"speaker":"Average Joe Finances","startTime":411.649,"endTime":415.179,"body":"you're describing the interest rates"},{"speaker":"Average Joe Finances","startTime":411.649,"endTime":415.179,"body":",oh yeah just hold onto it as long as"},{"speaker":"Average Joe Finances","startTime":415.179,"endTime":416.829,"body":"you can the interest rate's low, right?"},{"speaker":"Average Joe Finances","startTime":417.199,"endTime":421.549,"body":"It's cheap money I wrote down low interest"},{"speaker":"Average Joe Finances","startTime":417.199,"endTime":421.549,"body":"rate because that's what it feels like."},{"speaker":"Average Joe Finances","startTime":421.759,"endTime":425.349,"body":"You're a rat in the rat race just"},{"speaker":"Average Joe Finances","startTime":421.759,"endTime":425.349,"body":"got caught in the trap right now."},{"speaker":"Average Joe Finances","startTime":425.349,"endTime":427.949,"body":"You're sitting there just"},{"speaker":"Average Joe Finances","startTime":425.349,"endTime":427.949,"body":"chasing, the cheese, but you"},{"speaker":"Average Joe Finances","startTime":427.949,"endTime":429.239,"body":"can't get to it cuz you're stuck."},{"speaker":"Average Joe Finances","startTime":429.439,"endTime":430.099,"body":"So yeah."},{"speaker":"Average Joe Finances","startTime":430.159,"endTime":431.629,"body":"Yeah, no, I love that now."},{"speaker":"Average Joe Finances","startTime":431.829,"endTime":434.189,"body":"I here's the thing though, like we're"},{"speaker":"Average Joe Finances","startTime":431.829,"endTime":434.189,"body":"sitting here talking about this."},{"speaker":"Average Joe Finances","startTime":434.189,"endTime":437.579,"body":"I don't think we actually even"},{"speaker":"Average Joe Finances","startTime":434.189,"endTime":437.579,"body":"described what the shred method is yet."},{"speaker":"Average Joe Finances","startTime":437.779,"endTime":438.759,"body":"So if you could."},{"speaker":"Average Joe Finances","startTime":438.959,"endTime":439.439,"body":"Share with us."},{"speaker":"Average Joe Finances","startTime":439.679,"endTime":440.609,"body":"What, is the shred method?"},{"speaker":"Average Joe Finances","startTime":440.609,"endTime":441.479,"body":"How does this work?"},{"speaker":"Average Joe Finances","startTime":441.679,"endTime":447.579,"body":"How do you use this as a, vehicle to, pay"},{"speaker":"Average Joe Finances","startTime":441.679,"endTime":447.579,"body":"down debt or invest or anything like that?"},{"speaker":"Adam Carroll","startTime":447.779,"endTime":448.169,"body":"Yeah."},{"speaker":"Adam Carroll","startTime":448.369,"endTime":453.869,"body":"So the premise of the shred method is,"},{"speaker":"Adam Carroll","startTime":448.369,"endTime":453.869,"body":"this Mike, you have a mortgage traditional"},{"speaker":"Adam Carroll","startTime":453.869,"endTime":457.729,"body":"mortgage that most people take out on"},{"speaker":"Adam Carroll","startTime":453.869,"endTime":457.729,"body":"a 30 year fixed amortization table."},{"speaker":"Adam Carroll","startTime":457.929,"endTime":461.799,"body":"And when most of us buy a home, we're"},{"speaker":"Adam Carroll","startTime":457.929,"endTime":461.799,"body":"gonna put some amount down, call it"},{"speaker":"Adam Carroll","startTime":461.799,"endTime":463.839,"body":"five, 10, 20%, whatever it may be."},{"speaker":"Adam Carroll","startTime":464.039,"endTime":467.159,"body":"So let's assume you put"},{"speaker":"Adam Carroll","startTime":464.039,"endTime":467.159,"body":"20% down on a property."},{"speaker":"Adam Carroll","startTime":467.359,"endTime":469.829,"body":"You could go get a home"},{"speaker":"Adam Carroll","startTime":467.359,"endTime":469.829,"body":"equity line of credit."},{"speaker":"Adam Carroll","startTime":470.029,"endTime":473.889,"body":"Against the equity that you now have in"},{"speaker":"Adam Carroll","startTime":470.029,"endTime":473.889,"body":"that property and for the shred method"},{"speaker":"Adam Carroll","startTime":473.889,"endTime":478.619,"body":"to work candidly your HELOC needs to be"},{"speaker":"Adam Carroll","startTime":473.889,"endTime":478.619,"body":"somewhere between one and a half and two"},{"speaker":"Adam Carroll","startTime":478.619,"endTime":481.579,"body":"times your monthly net take home pay."},{"speaker":"Adam Carroll","startTime":481.779,"endTime":485.249,"body":"So if you're taking home five grand a"},{"speaker":"Adam Carroll","startTime":481.779,"endTime":485.249,"body":"month, Ideally, you would have a HELOCK"},{"speaker":"Adam Carroll","startTime":485.249,"endTime":487.859,"body":"that's in the 7,500 to $10,000 range."},{"speaker":"Adam Carroll","startTime":488.059,"endTime":489.289,"body":"So it's not crazy."},{"speaker":"Adam Carroll","startTime":489.289,"endTime":493.549,"body":"You're not taking out a massive, HELOC"},{"speaker":"Adam Carroll","startTime":489.289,"endTime":493.549,"body":"but what we're gonna do is we're gonna"},{"speaker":"Adam Carroll","startTime":493.549,"endTime":496.299,"body":"use the HELOC now as our checking account."},{"speaker":"Adam Carroll","startTime":496.499,"endTime":499.319,"body":"And when I say we're gonna use that,"},{"speaker":"Adam Carroll","startTime":496.499,"endTime":499.319,"body":"our use it as our checking account."},{"speaker":"Adam Carroll","startTime":499.519,"endTime":503.469,"body":"All of your monthly bills will be paid"},{"speaker":"Adam Carroll","startTime":499.519,"endTime":503.469,"body":"out that HELOCK and when you get paid"},{"speaker":"Adam Carroll","startTime":503.469,"endTime":507.969,"body":"every two weeks, your income simply"},{"speaker":"Adam Carroll","startTime":503.469,"endTime":507.969,"body":"drops in to the HELOC bringing the"},{"speaker":"Adam Carroll","startTime":507.969,"endTime":512.389,"body":"average daily balance down the software"},{"speaker":"Adam Carroll","startTime":507.969,"endTime":512.389,"body":"that powers the shred method is based"},{"speaker":"Adam Carroll","startTime":512.389,"endTime":513.979,"body":"on a number of complex algorithms."},{"speaker":"Adam Carroll","startTime":514.179,"endTime":517.539,"body":"But basically what it does is it"},{"speaker":"Adam Carroll","startTime":514.179,"endTime":517.539,"body":"tells you exactly to the penny,"},{"speaker":"Adam Carroll","startTime":517.739,"endTime":520.129,"body":"how much to send to your debts."},{"speaker":"Adam Carroll","startTime":520.129,"endTime":523.319,"body":"It could be a credit card,"},{"speaker":"Adam Carroll","startTime":520.129,"endTime":523.319,"body":"car loan, but fundamentally we"},{"speaker":"Adam Carroll","startTime":523.319,"endTime":524.579,"body":"want to get to the mortgage."},{"speaker":"Adam Carroll","startTime":524.779,"endTime":530.109,"body":"And so on a week by week or month by month"},{"speaker":"Adam Carroll","startTime":524.779,"endTime":530.109,"body":"basis, you'll get a notice notification"},{"speaker":"Adam Carroll","startTime":530.109,"endTime":536.239,"body":"from the system that will say, based on"},{"speaker":"Adam Carroll","startTime":530.109,"endTime":536.239,"body":"your income and your expenses send $2,788"},{"speaker":"Adam Carroll","startTime":536.239,"endTime":538.279,"body":"and 72 cents to your mortgage today."},{"speaker":"Adam Carroll","startTime":538.479,"endTime":542.369,"body":"What most people don't realize is"},{"speaker":"Adam Carroll","startTime":538.479,"endTime":542.369,"body":"that every time you dump a big lump"},{"speaker":"Adam Carroll","startTime":542.369,"endTime":546.589,"body":"sum payment in your mortgage, you are"},{"speaker":"Adam Carroll","startTime":542.369,"endTime":546.589,"body":"accelerating the amortization table."},{"speaker":"Adam Carroll","startTime":546.789,"endTime":551.819,"body":"So if you are on payment, one, when you"},{"speaker":"Adam Carroll","startTime":546.789,"endTime":551.819,"body":"start the shred method by the second or"},{"speaker":"Adam Carroll","startTime":551.819,"endTime":554.699,"body":"third month, you might be at payment 96."},{"speaker":"Adam Carroll","startTime":554.899,"endTime":558.909,"body":"Meaning you've skipped eight years of"},{"speaker":"Adam Carroll","startTime":554.899,"endTime":558.909,"body":"mortgage payments just by leveraging"},{"speaker":"Adam Carroll","startTime":558.909,"endTime":560.709,"body":"some of that HELOC against the mortgage."},{"speaker":"Adam Carroll","startTime":560.909,"endTime":562.589,"body":"And that in itself is cool."},{"speaker":"Adam Carroll","startTime":562.789,"endTime":566.059,"body":"But what's cooler is when you look"},{"speaker":"Adam Carroll","startTime":562.789,"endTime":566.059,"body":"at what is eight or nine years worth"},{"speaker":"Adam Carroll","startTime":566.059,"endTime":570.159,"body":"of payments, cost you in interest or"},{"speaker":"Adam Carroll","startTime":566.059,"endTime":570.159,"body":"save you an interest in this case."},{"speaker":"Adam Carroll","startTime":570.359,"endTime":574.919,"body":"And for most people it's literally"},{"speaker":"Adam Carroll","startTime":570.359,"endTime":574.919,"body":"gonna be like 60 or $70,000 is what"},{"speaker":"Adam Carroll","startTime":574.919,"endTime":576.929,"body":"they're what's what the savings is."},{"speaker":"Average Joe Finances","startTime":577.129,"endTime":578.359,"body":"Yeah that's, huge."},{"speaker":"Average Joe Finances","startTime":578.419,"endTime":579.049,"body":"It's huge."},{"speaker":"Average Joe Finances","startTime":579.049,"endTime":582.639,"body":"Especially when you're thinking about how"},{"speaker":"Average Joe Finances","startTime":579.049,"endTime":582.639,"body":"much you're accelerating your mortgage."},{"speaker":"Average Joe Finances","startTime":582.699,"endTime":587.119,"body":"So if you are sitting here and you're"},{"speaker":"Average Joe Finances","startTime":582.699,"endTime":587.119,"body":"chunking down your mortgage, will the bank"},{"speaker":"Average Joe Finances","startTime":587.119,"endTime":590.749,"body":"automatically make it so that when your"},{"speaker":"Average Joe Finances","startTime":587.119,"endTime":590.749,"body":"payments are going in, like you're already"},{"speaker":"Average Joe Finances","startTime":590.749,"endTime":593.149,"body":"fast forwarded on your amortization table?"},{"speaker":"Average Joe Finances","startTime":593.149,"endTime":599.299,"body":"So will they say so let's say for example,"},{"speaker":"Average Joe Finances","startTime":593.149,"endTime":599.299,"body":"you have a $500,000 mortgage, right?"},{"speaker":"Average Joe Finances","startTime":599.399,"endTime":604.439,"body":"And you've chunked it down to"},{"speaker":"Average Joe Finances","startTime":599.399,"endTime":604.439,"body":"where you owe 380 and maybe you"},{"speaker":"Average Joe Finances","startTime":604.439,"endTime":607.559,"body":"cut off 10 years of your mortgage."},{"speaker":"Average Joe Finances","startTime":607.759,"endTime":612.039,"body":"Now, when you make a, regular payment,"},{"speaker":"Average Joe Finances","startTime":607.759,"endTime":612.039,"body":"does that count as like payment"},{"speaker":"Average Joe Finances","startTime":612.039,"endTime":614.359,"body":"number I guess 1 21 going monthly."},{"speaker":"Average Joe Finances","startTime":614.364,"endTime":614.569,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":614.569,"endTime":615.469,"body":"So 1 21."},{"speaker":"Adam Carroll","startTime":615.469,"endTime":615.529,"body":"Yeah."},{"speaker":"Adam Carroll","startTime":615.729,"endTime":616.089,"body":"Yep."},{"speaker":"Average Joe Finances","startTime":616.289,"endTime":616.649,"body":"Wow."},{"speaker":"Average Joe Finances","startTime":616.679,"endTime":617.039,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":617.099,"endTime":619.889,"body":"And that's, something I wasn't"},{"speaker":"Average Joe Finances","startTime":617.099,"endTime":619.889,"body":"really too sure about myself."},{"speaker":"Average Joe Finances","startTime":620.089,"endTime":623.769,"body":"Cuz this is something I'm also looking"},{"speaker":"Average Joe Finances","startTime":620.089,"endTime":623.769,"body":"at doing I just recently took outta, he,"},{"speaker":"Average Joe Finances","startTime":623.769,"endTime":626.699,"body":"like we were talking about this before"},{"speaker":"Average Joe Finances","startTime":623.769,"endTime":626.699,"body":"we hit record and I was using it to"},{"speaker":"Average Joe Finances","startTime":626.699,"endTime":631.439,"body":"invest and I still have  enough of it"},{"speaker":"Average Joe Finances","startTime":626.699,"endTime":631.439,"body":"left to start chunking down my mortgage."},{"speaker":"Average Joe Finances","startTime":631.439,"endTime":633.779,"body":"And this was actually one of"},{"speaker":"Average Joe Finances","startTime":631.439,"endTime":633.779,"body":"the methods I wanted to do."},{"speaker":"Average Joe Finances","startTime":633.929,"endTime":636.329,"body":"And I was talking with"},{"speaker":"Average Joe Finances","startTime":633.929,"endTime":636.329,"body":"my wife about it a lot."},{"speaker":"Average Joe Finances","startTime":636.529,"endTime":641.109,"body":"So this is very interesting and I think"},{"speaker":"Average Joe Finances","startTime":636.529,"endTime":641.109,"body":"I have a new selling point to share with"},{"speaker":"Average Joe Finances","startTime":641.109,"endTime":644.849,"body":"her that, Hey, as we're chunking down"},{"speaker":"Average Joe Finances","startTime":641.109,"endTime":644.849,"body":"the mortgage, we're also fast forwarding"},{"speaker":"Average Joe Finances","startTime":644.854,"endTime":647.08,"body":"where we are on the amortization table."},{"speaker":"Average Joe Finances","startTime":647.205,"endTime":649.515,"body":"And I think that'll make her feel"},{"speaker":"Average Joe Finances","startTime":647.205,"endTime":649.515,"body":"a little bit more comfortable."},{"speaker":"Average Joe Finances","startTime":649.515,"endTime":653.435,"body":"So for those of you listening, and you're"},{"speaker":"Average Joe Finances","startTime":649.515,"endTime":653.435,"body":"looking to explain this in a way that"},{"speaker":"Average Joe Finances","startTime":653.435,"endTime":657.495,"body":"will make maybe your partner or spouse"},{"speaker":"Average Joe Finances","startTime":653.435,"endTime":657.495,"body":"more comfortable, this might be a,"},{"speaker":"Average Joe Finances","startTime":657.495,"endTime":660.985,"body":"good episode to have them listen to  if"},{"speaker":"Average Joe Finances","startTime":657.495,"endTime":660.985,"body":"this is something you want to do, okay."},{"speaker":"Average Joe Finances","startTime":660.985,"endTime":661.435,"body":"Awesome."},{"speaker":"Adam Carroll","startTime":661.54,"endTime":661.87,"body":"Yeah."},{"speaker":"Adam Carroll","startTime":661.87,"endTime":665.79,"body":"And one thing I would add to that,"},{"speaker":"Adam Carroll","startTime":661.87,"endTime":665.79,"body":"Mike, is that, one tweak maybe for your"},{"speaker":"Adam Carroll","startTime":665.79,"endTime":670.75,"body":"system is that, if you and your wife"},{"speaker":"Adam Carroll","startTime":665.79,"endTime":670.75,"body":"started pouring income into the HELOC"},{"speaker":"Adam Carroll","startTime":670.77,"endTime":675.33,"body":"or through the HELOC what you'll notice"},{"speaker":"Adam Carroll","startTime":670.77,"endTime":675.33,"body":"is it will fluctuate up and down month"},{"speaker":"Adam Carroll","startTime":675.335,"endTime":677.25,"body":"over month, but it will trend down."},{"speaker":"Adam Carroll","startTime":677.45,"endTime":681.7,"body":"So you're gonna blast away your, HELOC"},{"speaker":"Adam Carroll","startTime":677.45,"endTime":681.7,"body":"faster, allowing you to go deploy more"},{"speaker":"Adam Carroll","startTime":681.88,"endTime":685.3,"body":"of that money into a syndication or"},{"speaker":"Adam Carroll","startTime":681.88,"endTime":685.3,"body":"another rental property, or what have you."},{"speaker":"Adam Carroll","startTime":685.5,"endTime":690.11,"body":"And the whole time, as you're putting"},{"speaker":"Adam Carroll","startTime":685.5,"endTime":690.11,"body":"lump sum payments to the mortgage,"},{"speaker":"Adam Carroll","startTime":690.31,"endTime":693.61,"body":"what you're in effect doing is"},{"speaker":"Adam Carroll","startTime":690.31,"endTime":693.61,"body":"also expanding the amount of equity"},{"speaker":"Adam Carroll","startTime":693.61,"endTime":694.84,"body":"that you have available to you."},{"speaker":"Adam Carroll","startTime":695.04,"endTime":698.84,"body":"So if you started with the $50,000,"},{"speaker":"Adam Carroll","startTime":695.04,"endTime":698.84,"body":"HELOC six months in, you may be able"},{"speaker":"Adam Carroll","startTime":698.845,"endTime":703.92,"body":"to go back to the bank and say, Hey,"},{"speaker":"Adam Carroll","startTime":698.845,"endTime":703.92,"body":"I've paid off a ton of my mortgage."},{"speaker":"Adam Carroll","startTime":704.12,"endTime":705.77,"body":"Could I get 75 or a hundred?"},{"speaker":"Adam Carroll","startTime":705.97,"endTime":709.15,"body":"And the reason this is really"},{"speaker":"Adam Carroll","startTime":705.97,"endTime":709.15,"body":"important for people to"},{"speaker":"Adam Carroll","startTime":709.15,"endTime":711.33,"body":"understand is, this is liquidity."},{"speaker":"Adam Carroll","startTime":711.53,"endTime":713.87,"body":"I maintain that most people"},{"speaker":"Adam Carroll","startTime":711.53,"endTime":713.87,"body":"don't have an income problem."},{"speaker":"Adam Carroll","startTime":713.9,"endTime":718.05,"body":"They have a liquidity problem because"},{"speaker":"Adam Carroll","startTime":713.9,"endTime":718.05,"body":"their income is going into qualified"},{"speaker":"Adam Carroll","startTime":718.05,"endTime":720.99,"body":"investments that they can't pull"},{"speaker":"Adam Carroll","startTime":718.05,"endTime":720.99,"body":"the money out of for a long time."},{"speaker":"Adam Carroll","startTime":721.19,"endTime":724.72,"body":"Yet when you use this strategy,"},{"speaker":"Adam Carroll","startTime":721.19,"endTime":724.72,"body":"you'll get to a point pretty quickly"},{"speaker":"Adam Carroll","startTime":724.72,"endTime":727.18,"body":"where you could write a 50 or a"},{"speaker":"Adam Carroll","startTime":724.72,"endTime":727.18,"body":"hundred thousand dollars check."},{"speaker":"Adam Carroll","startTime":727.38,"endTime":731.74,"body":"And the investments that you can put"},{"speaker":"Adam Carroll","startTime":727.38,"endTime":731.74,"body":"money in at 50 and a hundred thousand"},{"speaker":"Adam Carroll","startTime":731.74,"endTime":735.66,"body":"dollars clips are way different than"},{"speaker":"Adam Carroll","startTime":731.74,"endTime":735.66,"body":"dollar cost averaging into the stock."},{"speaker":"Average Joe Finances","startTime":735.86,"endTime":737.36,"body":"I had"},{"speaker":"Average Joe Finances","startTime":735.86,"endTime":737.36,"body":"to write that one down too."},{"speaker":"Average Joe Finances","startTime":737.63,"endTime":739.725,"body":"That's a great nugget right"},{"speaker":"Average Joe Finances","startTime":737.63,"endTime":739.725,"body":"there, especially that most people"},{"speaker":"Average Joe Finances","startTime":739.725,"endTime":742.485,"body":"don't have an income problem,"},{"speaker":"Average Joe Finances","startTime":739.725,"endTime":742.485,"body":"they have a liquidity problem."},{"speaker":"Average Joe Finances","startTime":742.685,"endTime":747.475,"body":"And, I see that cuz even investing in"},{"speaker":"Average Joe Finances","startTime":742.685,"endTime":747.475,"body":"real estate before I had a HELOC the money"},{"speaker":"Average Joe Finances","startTime":747.475,"endTime":750.975,"body":"that I was putting in, like it's something"},{"speaker":"Average Joe Finances","startTime":747.475,"endTime":750.975,"body":"I put into it and  I can't touch it."},{"speaker":"Average Joe Finances","startTime":751.155,"endTime":752.505,"body":"Especially with the"},{"speaker":"Average Joe Finances","startTime":751.155,"endTime":752.505,"body":"syndications that I'm doing."},{"speaker":"Average Joe Finances","startTime":752.655,"endTime":753.405,"body":"It's limited partner."},{"speaker":"Average Joe Finances","startTime":753.475,"endTime":755.825,"body":"I put this money in, they"},{"speaker":"Average Joe Finances","startTime":753.475,"endTime":755.825,"body":"take it, they get the asset."},{"speaker":"Average Joe Finances","startTime":756.025,"endTime":757.585,"body":"I collect the check every month, right?"},{"speaker":"Average Joe Finances","startTime":757.685,"endTime":762.425,"body":"But I cannot say I guess I could if I go"},{"speaker":"Average Joe Finances","startTime":757.685,"endTime":762.425,"body":"and ask them, they could always say no,"},{"speaker":"Average Joe Finances","startTime":762.425,"endTime":765.705,"body":"but I could say, Hey, I want you to buy me"},{"speaker":"Average Joe Finances","startTime":762.425,"endTime":765.705,"body":"outta my position   but generally you're"},{"speaker":"Average Joe Finances","startTime":765.705,"endTime":766.995,"body":"not gonna see something like that happen."},{"speaker":"Average Joe Finances","startTime":766.995,"endTime":769.755,"body":"So this money that I can't touch for"},{"speaker":"Average Joe Finances","startTime":766.995,"endTime":769.755,"body":"the next, like three to five years,"},{"speaker":"Average Joe Finances","startTime":769.955,"endTime":774.775,"body":"Whereas if I put it into the HELOC,"},{"speaker":"Average Joe Finances","startTime":769.955,"endTime":774.775,"body":"sure, I put it in, but I still have"},{"speaker":"Average Joe Finances","startTime":774.955,"endTime":778.855,"body":"more liquidity because as I'm paying"},{"speaker":"Average Joe Finances","startTime":774.955,"endTime":778.855,"body":"it down with the money that I'm"},{"speaker":"Average Joe Finances","startTime":778.855,"endTime":780.865,"body":"getting monthly from the syndication."},{"speaker":"Average Joe Finances","startTime":780.965,"endTime":782.37,"body":"I'm getting some of that back."},{"speaker":"Average Joe Finances","startTime":782.37,"endTime":785.39,"body":"I'm getting that liquidity back and"},{"speaker":"Average Joe Finances","startTime":782.37,"endTime":785.39,"body":"I, think that's pretty awesome, cuz"},{"speaker":"Average Joe Finances","startTime":785.395,"endTime":786.71,"body":"that's exactly what I'm doing right now."},{"speaker":"Average Joe Finances","startTime":786.715,"endTime":788.33,"body":"So I don't even take a profit."},{"speaker":"Average Joe Finances","startTime":788.53,"endTime":791.94,"body":"From the syndicate, like the, money that"},{"speaker":"Average Joe Finances","startTime":788.53,"endTime":791.94,"body":"I put into a syndication outta my HELOC"},{"speaker":"Average Joe Finances","startTime":792.18,"endTime":793.23,"body":"I don't even take a profit from it."},{"speaker":"Average Joe Finances","startTime":793.23,"endTime":796.71,"body":"I take the every, piece of the payment"},{"speaker":"Average Joe Finances","startTime":793.23,"endTime":796.71,"body":"and I actually put it right back"},{"speaker":"Average Joe Finances","startTime":796.71,"endTime":799.92,"body":"into the HELOC which is way more than"},{"speaker":"Average Joe Finances","startTime":796.71,"endTime":799.92,"body":"what the monthly payment is for the"},{"speaker":"Average Joe Finances","startTime":799.92,"endTime":801.23,"body":"HELOC for the amount that I borrowed."},{"speaker":"Average Joe Finances","startTime":801.33,"endTime":804.0,"body":"So that's, actually been a"},{"speaker":"Average Joe Finances","startTime":801.33,"endTime":804.0,"body":"pretty great piece of that."},{"speaker":"Average Joe Finances","startTime":804.005,"endTime":805.69,"body":"So that's awesome now."},{"speaker":"Average Joe Finances","startTime":805.89,"endTime":807.63,"body":"With, where we're at today."},{"speaker":"Average Joe Finances","startTime":807.87,"endTime":811.18,"body":"We're starting to see interest"},{"speaker":"Average Joe Finances","startTime":807.87,"endTime":811.18,"body":"rates are rising and we're"},{"speaker":"Average Joe Finances","startTime":811.18,"endTime":812.53,"body":"seeing a lot of that right now."},{"speaker":"Average Joe Finances","startTime":812.62,"endTime":815.89,"body":"And by the time this airs who knows"},{"speaker":"Average Joe Finances","startTime":812.62,"endTime":815.89,"body":"what mortgage rates are gonna be."},{"speaker":"Average Joe Finances","startTime":815.99,"endTime":819.73,"body":"But what do you do if you're"},{"speaker":"Average Joe Finances","startTime":815.99,"endTime":819.73,"body":"in a situation and the interest"},{"speaker":"Average Joe Finances","startTime":819.735,"endTime":821.32,"body":"rates on HELOC start rising?"},{"speaker":"Average Joe Finances","startTime":821.56,"endTime":825.3,"body":"So I know I have a, I have a five"},{"speaker":"Average Joe Finances","startTime":821.56,"endTime":825.3,"body":"year window with the interest rate"},{"speaker":"Average Joe Finances","startTime":825.3,"endTime":826.68,"body":"that I have right now in mine."},{"speaker":"Average Joe Finances","startTime":827.03,"endTime":828.46,"body":"And then it becomes variable."},{"speaker":"Average Joe Finances","startTime":828.67,"endTime":831.19,"body":"So I know like at that point, that's,"},{"speaker":"Average Joe Finances","startTime":828.67,"endTime":831.19,"body":"I'm gonna say, I'm gonna go back and"},{"speaker":"Average Joe Finances","startTime":831.19,"endTime":835.5,"body":"say, Hey, I'd like to apply for a new"},{"speaker":"Average Joe Finances","startTime":831.19,"endTime":835.5,"body":"HELOC and, reset this whole thing."},{"speaker":"Average Joe Finances","startTime":835.7,"endTime":839.35,"body":"But what happens if those rates"},{"speaker":"Average Joe Finances","startTime":835.7,"endTime":839.35,"body":"rise and now I'm going back."},{"speaker":"Average Joe Finances","startTime":839.35,"endTime":842.5,"body":"And instead of the 4% that I have"},{"speaker":"Average Joe Finances","startTime":839.35,"endTime":842.5,"body":"right now, they say we can give"},{"speaker":"Average Joe Finances","startTime":842.5,"endTime":844.09,"body":"you six and a half or, eight?"},{"speaker":"Adam Carroll","startTime":844.14,"endTime":844.36,"body":"Yep."},{"speaker":"Adam Carroll","startTime":844.56,"endTime":844.95,"body":"Yeah."},{"speaker":"Adam Carroll","startTime":844.98,"endTime":847.68,"body":"Great question and it's actually"},{"speaker":"Adam Carroll","startTime":844.98,"endTime":847.68,"body":"on the top of people's minds"},{"speaker":"Adam Carroll","startTime":847.68,"endTime":851.81,"body":"right now, given the interest rate"},{"speaker":"Adam Carroll","startTime":847.68,"endTime":851.81,"body":"environment and the fed monkeying"},{"speaker":"Adam Carroll","startTime":851.815,"endTime":854.09,"body":"with rates on a semi-regular basis."},{"speaker":"Adam Carroll","startTime":854.19,"endTime":857.54,"body":"The short answer to your question,"},{"speaker":"Adam Carroll","startTime":854.19,"endTime":857.54,"body":"Mike is we've run the scenarios"},{"speaker":"Adam Carroll","startTime":857.57,"endTime":859.13,"body":"all the way up to nine or 10%."},{"speaker":"Adam Carroll","startTime":859.33,"endTime":860.38,"body":"And it still works."},{"speaker":"Adam Carroll","startTime":860.58,"endTime":861.75,"body":"It still saves you money."},{"speaker":"Adam Carroll","startTime":861.95,"endTime":867.31,"body":"The difference is that when interest"},{"speaker":"Adam Carroll","startTime":861.95,"endTime":867.31,"body":"rates are at 4%, we might leverage 30,"},{"speaker":"Adam Carroll","startTime":867.31,"endTime":873.23,"body":"40, $50,000 at a time on that HeLOCK"},{"speaker":"Adam Carroll","startTime":867.31,"endTime":873.23,"body":"and when it's higher 6, 7, 8, 9%, we"},{"speaker":"Adam Carroll","startTime":873.235,"endTime":879.02,"body":"might ratchet it back to 10 to $15,000"},{"speaker":"Adam Carroll","startTime":873.235,"endTime":879.02,"body":"and it will, slow down the payoff of"},{"speaker":"Adam Carroll","startTime":879.02,"endTime":883.42,"body":"your mortgage just a little bit, but not"},{"speaker":"Adam Carroll","startTime":879.02,"endTime":883.42,"body":"enough to really notice maybe like 2, 3, 4"},{"speaker":"Adam Carroll","startTime":883.42,"endTime":887.25,"body":"months, you're still gonna save a massive"},{"speaker":"Adam Carroll","startTime":883.42,"endTime":887.25,"body":"amount, tens of thousands of dollars."},{"speaker":"Adam Carroll","startTime":887.45,"endTime":891.8,"body":"We're just leveraging a different"},{"speaker":"Adam Carroll","startTime":887.45,"endTime":891.8,"body":"amount based on the amount of"},{"speaker":"Adam Carroll","startTime":891.8,"endTime":893.18,"body":"interest that's being charged on it."},{"speaker":"Average Joe Finances","startTime":893.38,"endTime":894.22,"body":"Yeah, fantastic."},{"speaker":"Average Joe Finances","startTime":894.27,"endTime":898.34,"body":"Cuz the way I'm looking at it is, the"},{"speaker":"Average Joe Finances","startTime":894.27,"endTime":898.34,"body":"difference between the simple daily"},{"speaker":"Average Joe Finances","startTime":898.34,"endTime":901.6,"body":"interest that you're paying versus the"},{"speaker":"Average Joe Finances","startTime":898.34,"endTime":901.6,"body":"amortized interest that you're paying"},{"speaker":"Average Joe Finances","startTime":901.6,"endTime":903.16,"body":"on the mortgage over a 30 year period."},{"speaker":"Average Joe Finances","startTime":903.16,"endTime":903.73,"body":"So yeah, sure."},{"speaker":"Average Joe Finances","startTime":903.83,"endTime":906.05,"body":"I think two and a quarter"},{"speaker":"Average Joe Finances","startTime":903.83,"endTime":906.05,"body":"percent mortgage right now."},{"speaker":"Average Joe Finances","startTime":906.23,"endTime":907.28,"body":"Which is fantastic."},{"speaker":"Average Joe Finances","startTime":907.285,"endTime":911.25,"body":"I got probably one of the best rates out"},{"speaker":"Average Joe Finances","startTime":907.285,"endTime":911.25,"body":"there when I refinanced, but at the same"},{"speaker":"Average Joe Finances","startTime":911.25,"endTime":913.14,"body":"time, looking at it over a 30 year period."},{"speaker":"Average Joe Finances","startTime":913.19,"endTime":917.41,"body":"When I make a mortgage payment right now,"},{"speaker":"Average Joe Finances","startTime":913.19,"endTime":917.41,"body":"how much, if it's going to interest versus"},{"speaker":"Average Joe Finances","startTime":917.41,"endTime":921.06,"body":"how much it's going to principle, which"},{"speaker":"Average Joe Finances","startTime":917.41,"endTime":921.06,"body":"actually right now for somehow because I,"},{"speaker":"Average Joe Finances","startTime":921.065,"endTime":925.91,"body":"refinanced, I got two and a quarter and"},{"speaker":"Average Joe Finances","startTime":921.065,"endTime":925.91,"body":"then my APR was 2.26, ever since my first"},{"speaker":"Average Joe Finances","startTime":925.91,"endTime":929.53,"body":"mortgage payment, I was actually making"},{"speaker":"Average Joe Finances","startTime":925.91,"endTime":929.53,"body":"slightly more into the principal than into"},{"speaker":"Average Joe Finances","startTime":929.535,"endTime":931.54,"body":"interest, but I'm, it's still like 50-50."},{"speaker":"Average Joe Finances","startTime":931.66,"endTime":933.36,"body":"It's maybe like 49-51."},{"speaker":"Average Joe Finances","startTime":933.57,"endTime":936.93,"body":"And it's, that's a lot of interest"},{"speaker":"Average Joe Finances","startTime":933.57,"endTime":936.93,"body":"that I'm still having to pay."},{"speaker":"Average Joe Finances","startTime":937.13,"endTime":941.33,"body":"Whereas if I start chunking it down and"},{"speaker":"Average Joe Finances","startTime":937.13,"endTime":941.33,"body":"I, knock 10 years off that mortgage, what"},{"speaker":"Average Joe Finances","startTime":941.33,"endTime":942.92,"body":"a huge difference being at that point."},{"speaker":"Average Joe Finances","startTime":942.92,"endTime":947.44,"body":"And then fast forward to, to knocking"},{"speaker":"Average Joe Finances","startTime":942.92,"endTime":947.44,"body":"it down to where I'd be at the 20 year"},{"speaker":"Average Joe Finances","startTime":947.44,"endTime":950.85,"body":"mark plus, that's when you really start"},{"speaker":"Average Joe Finances","startTime":947.44,"endTime":950.85,"body":"seeing a big difference, at least when"},{"speaker":"Average Joe Finances","startTime":950.85,"endTime":952.08,"body":"you look at the  amortization table."},{"speaker":"Adam Carroll","startTime":952.28,"endTime":954.11,"body":"And you can"},{"speaker":"Adam Carroll","startTime":952.28,"endTime":954.11,"body":"be there really quickly."},{"speaker":"Adam Carroll","startTime":954.31,"endTime":957.0,"body":"So we were chatting about this"},{"speaker":"Adam Carroll","startTime":954.31,"endTime":957.0,"body":"pretty on the interview, but"},{"speaker":"Adam Carroll","startTime":957.0,"endTime":962.22,"body":"I'm on my third time, cash out,"},{"speaker":"Adam Carroll","startTime":957.0,"endTime":962.22,"body":"refinancing my home and paying it off."},{"speaker":"Adam Carroll","startTime":962.42,"endTime":966.2,"body":"So in the last nine years, I"},{"speaker":"Adam Carroll","startTime":962.42,"endTime":966.2,"body":"basically paid my house off two full"},{"speaker":"Adam Carroll","startTime":966.2,"endTime":967.58,"body":"times and we're on our third time."},{"speaker":"Adam Carroll","startTime":967.78,"endTime":971.32,"body":"And this last time I pulled"},{"speaker":"Adam Carroll","startTime":967.78,"endTime":971.32,"body":"out $200,000 in cash."},{"speaker":"Adam Carroll","startTime":971.52,"endTime":974.91,"body":"We invested it in the market and,"},{"speaker":"Adam Carroll","startTime":971.52,"endTime":974.91,"body":"in real estate and some other deals."},{"speaker":"Adam Carroll","startTime":975.01,"endTime":977.59,"body":"My payment is right around $800 a month."},{"speaker":"Adam Carroll","startTime":977.77,"endTime":980.82,"body":"So I don't escrow, because the"},{"speaker":"Adam Carroll","startTime":977.77,"endTime":980.82,"body":"escrow just comes right outta"},{"speaker":"Adam Carroll","startTime":980.82,"endTime":982.29,"body":"my HELOC so it's that's money."},{"speaker":"Adam Carroll","startTime":982.29,"endTime":984.89,"body":"I'd rather not give to the"},{"speaker":"Adam Carroll","startTime":982.29,"endTime":984.89,"body":"government on a monthly basis."},{"speaker":"Adam Carroll","startTime":985.09,"endTime":988.78,"body":"I'll do it twice a year, pay my property"},{"speaker":"Adam Carroll","startTime":985.09,"endTime":988.78,"body":"taxes and my insurance once a year."},{"speaker":"Adam Carroll","startTime":988.98,"endTime":991.85,"body":"But my payments around"},{"speaker":"Adam Carroll","startTime":988.98,"endTime":991.85,"body":"800 bucks a month and."},{"speaker":"Adam Carroll","startTime":992.05,"endTime":995.82,"body":"The investments that we put"},{"speaker":"Adam Carroll","startTime":992.05,"endTime":995.82,"body":"the 200 grand in produce about"},{"speaker":"Adam Carroll","startTime":995.82,"endTime":998.25,"body":"$775 a month in cash flow."},{"speaker":"Adam Carroll","startTime":998.45,"endTime":1003.2,"body":"So in effect, the investment I made"},{"speaker":"Adam Carroll","startTime":998.45,"endTime":1003.2,"body":"pays the mortgage payment that I"},{"speaker":"Adam Carroll","startTime":1003.2,"endTime":1005.02,"body":"borrowed to make those investments."},{"speaker":"Adam Carroll","startTime":1005.22,"endTime":1007.23,"body":"Furthermore, we started shredding."},{"speaker":"Adam Carroll","startTime":1007.43,"endTime":1013.15,"body":"And so within a year, we had paid"},{"speaker":"Adam Carroll","startTime":1007.43,"endTime":1013.15,"body":"it down to $95,000 and at 95 grand,"},{"speaker":"Adam Carroll","startTime":1013.21,"endTime":1014.68,"body":"my payment is still 800 bucks."},{"speaker":"Adam Carroll","startTime":1014.88,"endTime":1018.89,"body":"But about $200 a month goes to interest"},{"speaker":"Adam Carroll","startTime":1014.88,"endTime":1018.89,"body":"and the rest goes to principal."},{"speaker":"Adam Carroll","startTime":1019.1,"endTime":1023.98,"body":"So not only is my investment making"},{"speaker":"Adam Carroll","startTime":1019.1,"endTime":1023.98,"body":"7 75, but the majority of that"},{"speaker":"Adam Carroll","startTime":1023.98,"endTime":1027.72,"body":"is going into principal to help"},{"speaker":"Adam Carroll","startTime":1023.98,"endTime":1027.72,"body":"continue to blast away the mortgage."},{"speaker":"Adam Carroll","startTime":1027.78,"endTime":1030.77,"body":"And I still have access to all"},{"speaker":"Adam Carroll","startTime":1027.78,"endTime":1030.77,"body":"the the money on the HELOC."},{"speaker":"Adam Carroll","startTime":1031.0,"endTime":1035.04,"body":"So, this is a strategy that"},{"speaker":"Adam Carroll","startTime":1031.0,"endTime":1035.04,"body":"has multiple facets to it."},{"speaker":"Adam Carroll","startTime":1035.24,"endTime":1037.25,"body":"Some people just wanna blast away debt."},{"speaker":"Adam Carroll","startTime":1037.28,"endTime":1038.24,"body":"We can help you do that."},{"speaker":"Adam Carroll","startTime":1038.44,"endTime":1040.39,"body":"Some people want to"},{"speaker":"Adam Carroll","startTime":1038.44,"endTime":1040.39,"body":"control their cash flow."},{"speaker":"Adam Carroll","startTime":1040.59,"endTime":1041.61,"body":"It can help you do that."},{"speaker":"Adam Carroll","startTime":1041.81,"endTime":1043.67,"body":"It's super robust and very fluid."},{"speaker":"Average Joe Finances","startTime":1043.87,"endTime":1044.08,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":1044.08,"endTime":1045.22,"body":"I absolutely love that."},{"speaker":"Average Joe Finances","startTime":1045.46,"endTime":1049.67,"body":"And the second piece of that with what"},{"speaker":"Average Joe Finances","startTime":1045.46,"endTime":1049.67,"body":"you just shared, besides just using the"},{"speaker":"Average Joe Finances","startTime":1049.77,"endTime":1054.15,"body":"HELOC as a means to be able to pull out"},{"speaker":"Average Joe Finances","startTime":1049.77,"endTime":1054.15,"body":"cash when you need it, you were also"},{"speaker":"Average Joe Finances","startTime":1054.15,"endTime":1059.57,"body":"able to pay off your home and then do a"},{"speaker":"Average Joe Finances","startTime":1054.15,"endTime":1059.57,"body":"cash out refinance and pull hard money"},{"speaker":"Average Joe Finances","startTime":1059.77,"endTime":1063.49,"body":"that you can then use to invest in other"},{"speaker":"Average Joe Finances","startTime":1059.77,"endTime":1063.49,"body":"assets and then do this all over again,"},{"speaker":"Average Joe Finances","startTime":1063.49,"endTime":1065.35,"body":"then shred it back, down all over again."},{"speaker":"Average Joe Finances","startTime":1065.35,"endTime":1066.61,"body":"That's completely fascinating."},{"speaker":"Average Joe Finances","startTime":1066.91,"endTime":1067.78,"body":"I absolutely love that."},{"speaker":"Average Joe Finances","startTime":1067.78,"endTime":1070.57,"body":"So it's not just because the way"},{"speaker":"Average Joe Finances","startTime":1067.78,"endTime":1070.57,"body":"I was looking at it was like, oh,"},{"speaker":"Average Joe Finances","startTime":1070.57,"endTime":1073.54,"body":"I could just, if I need cash, if I"},{"speaker":"Average Joe Finances","startTime":1070.57,"endTime":1073.54,"body":"need to pull out money to invest,"},{"speaker":"Average Joe Finances","startTime":1073.54,"endTime":1074.58,"body":"I could just pull out the HELOC."},{"speaker":"Average Joe Finances","startTime":1074.97,"endTime":1078.27,"body":"Actually, if I get to the point"},{"speaker":"Average Joe Finances","startTime":1074.97,"endTime":1078.27,"body":"where my mortgage is low enough,"},{"speaker":"Average Joe Finances","startTime":1078.47,"endTime":1082.7,"body":"or I paid my house off I could also"},{"speaker":"Average Joe Finances","startTime":1078.47,"endTime":1082.7,"body":"do a cash out, refinancing, get the"},{"speaker":"Average Joe Finances","startTime":1082.7,"endTime":1088.17,"body":"actual hard cash in hand besides just"},{"speaker":"Average Joe Finances","startTime":1082.7,"endTime":1088.17,"body":"pulling it from the, HELOC, so there's"},{"speaker":"Average Joe Finances","startTime":1088.17,"endTime":1090.89,"body":"more than one way to get, cash out."},{"speaker":"Average Joe Finances","startTime":1091.09,"endTime":1093.6,"body":"So absolutely that,"},{"speaker":"Average Joe Finances","startTime":1091.09,"endTime":1093.6,"body":"yeah, that's fantastic."},{"speaker":"Average Joe Finances","startTime":1093.8,"endTime":1094.22,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":1094.32,"endTime":1097.77,"body":"Yeah, so that, that kind of"},{"speaker":"Average Joe Finances","startTime":1094.32,"endTime":1097.77,"body":"settles my mind on the, whole thing"},{"speaker":"Average Joe Finances","startTime":1097.77,"endTime":1099.0,"body":"too, about interest rates too."},{"speaker":"Average Joe Finances","startTime":1099.005,"endTime":1101.93,"body":"If interest rates rise, like there's"},{"speaker":"Average Joe Finances","startTime":1099.005,"endTime":1101.93,"body":"still a lot to play with here."},{"speaker":"Average Joe Finances","startTime":1102.145,"endTime":1105.07,"body":"There's still ways to make"},{"speaker":"Average Joe Finances","startTime":1102.145,"endTime":1105.07,"body":"this work where it's not really"},{"speaker":"Average Joe Finances","startTime":1105.07,"endTime":1106.48,"body":"gonna slow you down that much."},{"speaker":"Average Joe Finances","startTime":1106.68,"endTime":1111.17,"body":"Now, besides interest rates going"},{"speaker":"Average Joe Finances","startTime":1106.68,"endTime":1111.17,"body":"up, so here's a scenario, right?"},{"speaker":"Average Joe Finances","startTime":1111.2,"endTime":1112.44,"body":"I'm retiring from the Navy."},{"speaker":"Average Joe Finances","startTime":1112.54,"endTime":1114.61,"body":"My income is about to get cut."},{"speaker":"Average Joe Finances","startTime":1114.94,"endTime":1117.18,"body":"My income's about to get shredded, right?"},{"speaker":"Average Joe Finances","startTime":1117.62,"endTime":1122.11,"body":"When I start going off of my pension and,"},{"speaker":"Average Joe Finances","startTime":1117.62,"endTime":1122.11,"body":"hopefully VA disability here to the point"},{"speaker":"Average Joe Finances","startTime":1122.115,"endTime":1127.41,"body":"where I'm gonna lose maybe on, on my"},{"speaker":"Average Joe Finances","startTime":1122.115,"endTime":1127.41,"body":"personal income, about four grand a month."},{"speaker":"Average Joe Finances","startTime":1127.56,"endTime":1130.59,"body":"Now, of course, I'm gonna be going"},{"speaker":"Average Joe Finances","startTime":1127.56,"endTime":1130.59,"body":"full time as a real estate agent."},{"speaker":"Average Joe Finances","startTime":1130.59,"endTime":1133.34,"body":"So I'll be getting my commissions and"},{"speaker":"Average Joe Finances","startTime":1130.59,"endTime":1133.34,"body":"everything, but let's say in a worst"},{"speaker":"Average Joe Finances","startTime":1133.34,"endTime":1134.84,"body":"case scenario, I can't sell a home."},{"speaker":"Average Joe Finances","startTime":1135.04,"endTime":1138.43,"body":"And now I'm living off of where I"},{"speaker":"Average Joe Finances","startTime":1135.04,"endTime":1138.43,"body":"was living off of 11,000 a month."},{"speaker":"Average Joe Finances","startTime":1138.43,"endTime":1141.3,"body":"Now I'm living off of   7,500 a month."},{"speaker":"Average Joe Finances","startTime":1141.5,"endTime":1144.08,"body":"Where does that put me if"},{"speaker":"Average Joe Finances","startTime":1141.5,"endTime":1144.08,"body":"I'm doing the shred method?"},{"speaker":"Average Joe Finances","startTime":1144.26,"endTime":1146.09,"body":"So, basically for a loss of income."},{"speaker":"Adam Carroll","startTime":1146.29,"endTime":1151.09,"body":"There's a question behind"},{"speaker":"Adam Carroll","startTime":1146.29,"endTime":1151.09,"body":"the question, which is at 7,500, are"},{"speaker":"Adam Carroll","startTime":1151.09,"endTime":1155.02,"body":"you below the watermark or above the"},{"speaker":"Adam Carroll","startTime":1151.09,"endTime":1155.02,"body":"watermark in terms of your expenses?"},{"speaker":"Average Joe Finances","startTime":1155.22,"endTime":1156.435,"body":"Yeah"},{"speaker":"Average Joe Finances","startTime":1155.22,"endTime":1156.435,"body":"I would still be above."},{"speaker":"Adam Carroll","startTime":1156.635,"endTime":1159.965,"body":"So what it does"},{"speaker":"Adam Carroll","startTime":1156.635,"endTime":1159.965,"body":"just can candidly is, it, this is"},{"speaker":"Adam Carroll","startTime":1159.965,"endTime":1161.615,"body":"the analogy that I give people."},{"speaker":"Adam Carroll","startTime":1161.815,"endTime":1165.875,"body":"If you've got a significant amount"},{"speaker":"Adam Carroll","startTime":1161.815,"endTime":1165.875,"body":"of discretionary income after you pay"},{"speaker":"Adam Carroll","startTime":1165.875,"endTime":1169.525,"body":"your expenses   that determines the"},{"speaker":"Adam Carroll","startTime":1165.875,"endTime":1169.525,"body":"size of the shredder that you have."},{"speaker":"Adam Carroll","startTime":1169.725,"endTime":1173.915,"body":"So people who have 2, 3, 4,"},{"speaker":"Adam Carroll","startTime":1169.725,"endTime":1173.915,"body":"$5,000 a month God love you."},{"speaker":"Adam Carroll","startTime":1174.115,"endTime":1175.705,"body":"You have a massive shred."},{"speaker":"Adam Carroll","startTime":1175.905,"endTime":1180.115,"body":"That can, you could put trees through"},{"speaker":"Adam Carroll","startTime":1175.905,"endTime":1180.115,"body":"this thing and it'll grind them, right?"},{"speaker":"Adam Carroll","startTime":1180.315,"endTime":1184.495,"body":"If you have 1500 to 2000 bucks,"},{"speaker":"Adam Carroll","startTime":1180.315,"endTime":1184.495,"body":"you have one of those office,"},{"speaker":"Adam Carroll","startTime":1184.495,"endTime":1187.285,"body":"max shredders, you could put 30"},{"speaker":"Adam Carroll","startTime":1184.495,"endTime":1187.285,"body":"or 40 pages through at a time."},{"speaker":"Adam Carroll","startTime":1187.29,"endTime":1188.125,"body":"And it'll shred things."},{"speaker":"Adam Carroll","startTime":1188.325,"endTime":1191.675,"body":"If you have a couple hundred bucks,"},{"speaker":"Adam Carroll","startTime":1188.325,"endTime":1191.675,"body":"you've got like a tabletop shredder"},{"speaker":"Adam Carroll","startTime":1191.675,"endTime":1193.325,"body":"that you can do two sheets at a time."},{"speaker":"Adam Carroll","startTime":1193.525,"endTime":1197.085,"body":"So what it does is it just"},{"speaker":"Adam Carroll","startTime":1193.525,"endTime":1197.085,"body":"slows down the timeframe at"},{"speaker":"Adam Carroll","startTime":1197.085,"endTime":1198.315,"body":"which you could be out of debt."},{"speaker":"Adam Carroll","startTime":1198.515,"endTime":1201.575,"body":"It's still effective, it's still gonna"},{"speaker":"Adam Carroll","startTime":1198.515,"endTime":1201.575,"body":"save you tens of thousands of dollars."},{"speaker":"Adam Carroll","startTime":1201.775,"endTime":1206.355,"body":"Instead of two to four years payoff"},{"speaker":"Adam Carroll","startTime":1201.775,"endTime":1206.355,"body":"time, you're probably looking at five to"},{"speaker":"Adam Carroll","startTime":1206.355,"endTime":1211.375,"body":"seven, maybe nine on the very high end,"},{"speaker":"Adam Carroll","startTime":1206.355,"endTime":1211.375,"body":"but I, maintain that virtually anyone"},{"speaker":"Adam Carroll","startTime":1211.375,"endTime":1216.395,"body":"out there could be completely outta debt"},{"speaker":"Adam Carroll","startTime":1211.375,"endTime":1216.395,"body":"between five and seven years, even with a"},{"speaker":"Adam Carroll","startTime":1216.395,"endTime":1219.81,"body":"modest income and a modest discretionary"},{"speaker":"Adam Carroll","startTime":1216.395,"endTime":1219.81,"body":"income, after paying expense."},{"speaker":"Average Joe Finances","startTime":1220.01,"endTime":1221.06,"body":"Oh that's, good to hear."},{"speaker":"Average Joe Finances","startTime":1221.06,"endTime":1223.76,"body":"And that's probably exactly what"},{"speaker":"Average Joe Finances","startTime":1221.06,"endTime":1223.76,"body":"my wife needs to hear as well."},{"speaker":"Average Joe Finances","startTime":1223.76,"endTime":1225.71,"body":"So I'm gonna make sure she"},{"speaker":"Average Joe Finances","startTime":1223.76,"endTime":1225.71,"body":"listens to this episode."},{"speaker":"Average Joe Finances","startTime":1225.71,"endTime":1226.43,"body":"So love it."},{"speaker":"Average Joe Finances","startTime":1226.53,"endTime":1228.47,"body":"I absolutely love this whole method."},{"speaker":"Average Joe Finances","startTime":1228.47,"endTime":1230.5,"body":"And that's one of the things"},{"speaker":"Average Joe Finances","startTime":1228.47,"endTime":1230.5,"body":"I wrote down too, as you were"},{"speaker":"Average Joe Finances","startTime":1230.65,"endTime":1232.57,"body":"describing that size of the shredder."},{"speaker":"Average Joe Finances","startTime":1232.57,"endTime":1235.2,"body":"So what, kind of shredder"},{"speaker":"Average Joe Finances","startTime":1232.57,"endTime":1235.2,"body":"can I use right now?"},{"speaker":"Average Joe Finances","startTime":1235.575,"endTime":1238.875,"body":"Do I need to maybe downgrade a"},{"speaker":"Average Joe Finances","startTime":1235.575,"endTime":1238.875,"body":"little bit after, after I retire?"},{"speaker":"Average Joe Finances","startTime":1239.075,"endTime":1242.195,"body":"But then again, like I said I'm,"},{"speaker":"Average Joe Finances","startTime":1239.075,"endTime":1242.195,"body":"gonna keep doing what I'm doing."},{"speaker":"Average Joe Finances","startTime":1242.395,"endTime":1246.385,"body":"I'm gonna keep investing and, taking"},{"speaker":"Average Joe Finances","startTime":1242.395,"endTime":1246.385,"body":"the the cash flow for my investments"},{"speaker":"Average Joe Finances","startTime":1246.535,"endTime":1247.885,"body":"and, putting it into it as well."},{"speaker":"Average Joe Finances","startTime":1247.885,"endTime":1252.295,"body":"So I think I'll be very quickly"},{"speaker":"Average Joe Finances","startTime":1247.885,"endTime":1252.295,"body":"back to where I was pretirement."},{"speaker":"Average Joe Finances","startTime":1252.495,"endTime":1253.995,"body":"Yeah this is good stuff, man."},{"speaker":"Average Joe Finances","startTime":1253.995,"endTime":1254.865,"body":"Absolutely loving it."},{"speaker":"Average Joe Finances","startTime":1254.865,"endTime":1255.225,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":1255.425,"endTime":1258.725,"body":"So we talked about if interest rates"},{"speaker":"Average Joe Finances","startTime":1255.425,"endTime":1258.725,"body":"rise, we talked about if there's a"},{"speaker":"Average Joe Finances","startTime":1258.725,"endTime":1263.795,"body":"loss of income now, What about if,"},{"speaker":"Average Joe Finances","startTime":1258.725,"endTime":1263.795,"body":"and we touched on this a little bit"},{"speaker":"Average Joe Finances","startTime":1263.795,"endTime":1267.185,"body":"now, what about if somebody says,"},{"speaker":"Average Joe Finances","startTime":1263.795,"endTime":1267.185,"body":"okay, I don't have too much debt."},{"speaker":"Average Joe Finances","startTime":1267.185,"endTime":1268.685,"body":"I'm not too worried about that."},{"speaker":"Average Joe Finances","startTime":1268.885,"endTime":1271.405,"body":"I wanna focus on investing."},{"speaker":"Average Joe Finances","startTime":1271.405,"endTime":1276.015,"body":"So how can they use the shred"},{"speaker":"Average Joe Finances","startTime":1271.405,"endTime":1276.015,"body":"method as a strategy to invest?"},{"speaker":"Average Joe Finances","startTime":1276.215,"endTime":1278.435,"body":"It's what I'm doing"},{"speaker":"Average Joe Finances","startTime":1276.215,"endTime":1278.435,"body":"right now, a little bit."},{"speaker":"Average Joe Finances","startTime":1278.535,"endTime":1280.305,"body":"But I'd like to hear"},{"speaker":"Average Joe Finances","startTime":1278.535,"endTime":1280.305,"body":"your perspective on that."},{"speaker":"Adam Carroll","startTime":1280.505,"endTime":1280.895,"body":"Yeah."},{"speaker":"Adam Carroll","startTime":1281.095,"endTime":1284.975,"body":"So when people tell me, Hey, I want to"},{"speaker":"Adam Carroll","startTime":1281.095,"endTime":1284.975,"body":"be investing, there's typically two or"},{"speaker":"Adam Carroll","startTime":1284.975,"endTime":1288.025,"body":"three questions I'm gonna ask 'em number"},{"speaker":"Adam Carroll","startTime":1284.975,"endTime":1288.025,"body":"one is where, do you want to invest?"},{"speaker":"Adam Carroll","startTime":1288.025,"endTime":1289.015,"body":"What's exciting to you."},{"speaker":"Adam Carroll","startTime":1289.215,"endTime":1291.225,"body":"And typically they'll say real estate."},{"speaker":"Adam Carroll","startTime":1291.425,"endTime":1294.085,"body":"They'll tell me crypto or"},{"speaker":"Adam Carroll","startTime":1291.425,"endTime":1294.085,"body":"they'll tell me equities."},{"speaker":"Adam Carroll","startTime":1294.085,"endTime":1295.255,"body":"They wanna be in the stock market."},{"speaker":"Adam Carroll","startTime":1295.455,"endTime":1298.855,"body":"And what's funny is I get a lot"},{"speaker":"Adam Carroll","startTime":1295.455,"endTime":1298.855,"body":"of people that will say, Hey you"},{"speaker":"Adam Carroll","startTime":1298.855,"endTime":1301.375,"body":"shouldn't pay off debt, you should"},{"speaker":"Adam Carroll","startTime":1298.855,"endTime":1301.375,"body":"be in the stock market because."},{"speaker":"Adam Carroll","startTime":1301.575,"endTime":1304.385,"body":"And then I get the old diatribe"},{"speaker":"Adam Carroll","startTime":1301.575,"endTime":1304.385,"body":"about over a hundred years."},{"speaker":"Adam Carroll","startTime":1304.385,"endTime":1307.685,"body":"The S and P is GA it's 10%"},{"speaker":"Adam Carroll","startTime":1304.385,"endTime":1307.685,"body":"return and blah, blah, blah."},{"speaker":"Adam Carroll","startTime":1307.885,"endTime":1309.475,"body":"And I don't disagree with any of that."},{"speaker":"Adam Carroll","startTime":1309.475,"endTime":1312.775,"body":"But the advantage of using shred"},{"speaker":"Adam Carroll","startTime":1309.475,"endTime":1312.775,"body":"and in particular, a home equity"},{"speaker":"Adam Carroll","startTime":1312.775,"endTime":1317.165,"body":"line of credit as your investment"},{"speaker":"Adam Carroll","startTime":1312.775,"endTime":1317.165,"body":"tool is the liquidity of it."},{"speaker":"Adam Carroll","startTime":1317.285,"endTime":1318.005,"body":"Number one."},{"speaker":"Adam Carroll","startTime":1318.205,"endTime":1321.655,"body":"So you could write, as I mentioned,"},{"speaker":"Adam Carroll","startTime":1318.205,"endTime":1321.655,"body":"a $50,000 check or a hundred thousand"},{"speaker":"Adam Carroll","startTime":1321.655,"endTime":1324.945,"body":"dollars check into an investment,"},{"speaker":"Adam Carroll","startTime":1321.655,"endTime":1324.945,"body":"and those investments are different."},{"speaker":"Adam Carroll","startTime":1325.145,"endTime":1328.055,"body":"Mike, you're in syndications,"},{"speaker":"Adam Carroll","startTime":1325.145,"endTime":1328.055,"body":"most syndications are gonna"},{"speaker":"Adam Carroll","startTime":1328.055,"endTime":1331.685,"body":"return somewhere between eight"},{"speaker":"Adam Carroll","startTime":1328.055,"endTime":1331.685,"body":"and 14% a year , year over year."},{"speaker":"Adam Carroll","startTime":1331.865,"endTime":1334.565,"body":"If you look at the average over a"},{"speaker":"Adam Carroll","startTime":1331.865,"endTime":1334.565,"body":"three or four or five year span,"},{"speaker":"Adam Carroll","startTime":1334.565,"endTime":1335.615,"body":"that's what they're gonna return."},{"speaker":"Adam Carroll","startTime":1335.815,"endTime":1340.515,"body":"And if you go in the market, like"},{"speaker":"Adam Carroll","startTime":1335.815,"endTime":1340.515,"body":"you're subject to whether or not Elon"},{"speaker":"Adam Carroll","startTime":1340.52,"endTime":1344.605,"body":"Musk is gonna tweet about something and"},{"speaker":"Adam Carroll","startTime":1340.52,"endTime":1344.605,"body":"have that stock ticker go down, yeah."},{"speaker":"Adam Carroll","startTime":1344.805,"endTime":1348.565,"body":"And, in crypto's been so volatile, and"},{"speaker":"Adam Carroll","startTime":1344.805,"endTime":1348.565,"body":"even that being said, my disclaimer"},{"speaker":"Adam Carroll","startTime":1348.565,"endTime":1352.835,"body":"is I own a fair amount of crypto, but"},{"speaker":"Adam Carroll","startTime":1348.565,"endTime":1352.835,"body":"what I found is that, whenever crypto"},{"speaker":"Adam Carroll","startTime":1352.835,"endTime":1357.055,"body":"goes down, I just pull some money outta"},{"speaker":"Adam Carroll","startTime":1352.835,"endTime":1357.055,"body":"my HELOC and buy it cuz it's on sale."},{"speaker":"Adam Carroll","startTime":1357.255,"endTime":1361.335,"body":"And the logic behind that for me is"},{"speaker":"Adam Carroll","startTime":1357.255,"endTime":1361.335,"body":"it goes back to one of Warren Buffet's"},{"speaker":"Adam Carroll","startTime":1361.665,"endTime":1365.845,"body":"idioms, which is \" when gold is falling"},{"speaker":"Adam Carroll","startTime":1361.665,"endTime":1365.845,"body":"from the skies, you can either go"},{"speaker":"Adam Carroll","startTime":1365.845,"endTime":1367.435,"body":"out and collect it in a wheelbarrow."},{"speaker":"Adam Carroll","startTime":1367.635,"endTime":1371.135,"body":"And the fact that you have a"},{"speaker":"Adam Carroll","startTime":1367.635,"endTime":1371.135,"body":"HELOC accessible to you is the"},{"speaker":"Adam Carroll","startTime":1371.135,"endTime":1373.995,"body":"wheelbarrow because it's some"},{"speaker":"Adam Carroll","startTime":1371.135,"endTime":1373.995,"body":"take you back a little bit."},{"speaker":"Adam Carroll","startTime":1374.055,"endTime":1377.935,"body":"You remember in March of 2020,"},{"speaker":"Adam Carroll","startTime":1374.055,"endTime":1377.935,"body":"the wheels fell off of society."},{"speaker":"Adam Carroll","startTime":1378.135,"endTime":1383.095,"body":"Vegas closed, and I was like, Vegas"},{"speaker":"Adam Carroll","startTime":1378.135,"endTime":1383.095,"body":"closes, what happens to MGM stock?"},{"speaker":"Adam Carroll","startTime":1383.295,"endTime":1388.415,"body":"MGM stock went from $42 a share"},{"speaker":"Adam Carroll","startTime":1383.295,"endTime":1388.415,"body":"to $7 a share in two weeks."},{"speaker":"Adam Carroll","startTime":1388.615,"endTime":1391.545,"body":"So I said to my wife, Hey,"},{"speaker":"Adam Carroll","startTime":1388.615,"endTime":1391.545,"body":"we're gonna own a piece of MGM."},{"speaker":"Adam Carroll","startTime":1391.745,"endTime":1396.785,"body":"So we pull out 10 grand out of the HELOC"},{"speaker":"Adam Carroll","startTime":1391.745,"endTime":1396.785,"body":"and drop it on MGM stock at about eight or"},{"speaker":"Adam Carroll","startTime":1396.785,"endTime":1399.205,"body":"nine bucks a share after it had bounced."},{"speaker":"Adam Carroll","startTime":1399.405,"endTime":1400.725,"body":"And I was like, this is gonna be awesome."},{"speaker":"Adam Carroll","startTime":1400.905,"endTime":1402.705,"body":"Today it's $36 a share."},{"speaker":"Adam Carroll","startTime":1402.905,"endTime":1405.335,"body":"So that's the power of this, right?"},{"speaker":"Adam Carroll","startTime":1405.535,"endTime":1407.865,"body":"When you see a deal, you go scoop it up."},{"speaker":"Adam Carroll","startTime":1407.865,"endTime":1409.575,"body":"Cuz you have access to that capital."},{"speaker":"Adam Carroll","startTime":1409.775,"endTime":1414.185,"body":"And all the while the market was"},{"speaker":"Adam Carroll","startTime":1409.775,"endTime":1414.185,"body":"doing this high flying ride and crypto"},{"speaker":"Adam Carroll","startTime":1414.19,"endTime":1416.925,"body":"hits 60K and then went back to 45K."},{"speaker":"Adam Carroll","startTime":1416.945,"endTime":1419.485,"body":"Now it's at 30K Bitcoin in particular."},{"speaker":"Adam Carroll","startTime":1419.685,"endTime":1420.795,"body":"What people were telling me."},{"speaker":"Adam Carroll","startTime":1420.995,"endTime":1422.795,"body":"It's dumb to pay off your"},{"speaker":"Adam Carroll","startTime":1420.995,"endTime":1422.795,"body":"debt, man, it's dumb."},{"speaker":"Adam Carroll","startTime":1422.825,"endTime":1423.305,"body":"So dumb."},{"speaker":"Adam Carroll","startTime":1423.305,"endTime":1424.145,"body":"You should be in the market."},{"speaker":"Adam Carroll","startTime":1424.145,"endTime":1425.225,"body":"This market's killing it."},{"speaker":"Adam Carroll","startTime":1425.425,"endTime":1427.915,"body":"And I'm like, yeah, the market's"},{"speaker":"Adam Carroll","startTime":1425.425,"endTime":1427.915,"body":"killing it, but it's overpriced."},{"speaker":"Adam Carroll","startTime":1428.115,"endTime":1432.375,"body":"And every high has a low and"},{"speaker":"Adam Carroll","startTime":1428.115,"endTime":1432.375,"body":"we have to be getting close."},{"speaker":"Adam Carroll","startTime":1432.575,"endTime":1436.645,"body":"So as I was paying off debt, Freeing"},{"speaker":"Adam Carroll","startTime":1432.575,"endTime":1436.645,"body":"up equity and being more liquid."},{"speaker":"Adam Carroll","startTime":1436.845,"endTime":1441.545,"body":"Now I'm looking my chops okay, I'm"},{"speaker":"Adam Carroll","startTime":1436.845,"endTime":1441.545,"body":"waiting for MGM to go back down and"},{"speaker":"Adam Carroll","startTime":1441.545,"endTime":1445.855,"body":"Coca-Cola to go down and Wells Fargo"},{"speaker":"Adam Carroll","startTime":1441.545,"endTime":1445.855,"body":"to go down and the whole stock market"},{"speaker":"Adam Carroll","startTime":1445.86,"endTime":1450.365,"body":"to go down and crypto Bitcoin at"},{"speaker":"Adam Carroll","startTime":1445.86,"endTime":1450.365,"body":"30 grand a coin, that is on sale."},{"speaker":"Adam Carroll","startTime":1450.565,"endTime":1454.205,"body":"And so you better believe like we're"},{"speaker":"Adam Carroll","startTime":1450.565,"endTime":1454.205,"body":"taking money out of the HELOC  and"},{"speaker":"Adam Carroll","startTime":1454.205,"endTime":1458.265,"body":"putting it into some of those things,"},{"speaker":"Adam Carroll","startTime":1454.205,"endTime":1458.265,"body":"because I know that that, I'm not"},{"speaker":"Adam Carroll","startTime":1458.415,"endTime":1460.395,"body":"necessarily trying to time the market."},{"speaker":"Adam Carroll","startTime":1460.595,"endTime":1464.025,"body":"But the market timing is right and"},{"speaker":"Adam Carroll","startTime":1460.595,"endTime":1464.025,"body":"we have the  access to the capital"},{"speaker":"Adam Carroll","startTime":1464.295,"endTime":1467.275,"body":"using that HELOC so it's a long"},{"speaker":"Adam Carroll","startTime":1464.295,"endTime":1467.275,"body":"winding answer to your question."},{"speaker":"Average Joe Finances","startTime":1467.475,"endTime":1469.425,"body":"Oh,"},{"speaker":"Average Joe Finances","startTime":1467.475,"endTime":1469.425,"body":"Hey but it works right."},{"speaker":"Average Joe Finances","startTime":1469.515,"endTime":1473.135,"body":"And I, think the most important"},{"speaker":"Average Joe Finances","startTime":1469.515,"endTime":1473.135,"body":"takeaway from that is not to sit"},{"speaker":"Average Joe Finances","startTime":1473.135,"endTime":1474.545,"body":"here and try to time the market."},{"speaker":"Average Joe Finances","startTime":1474.545,"endTime":1478.405,"body":"But the fact that you have the"},{"speaker":"Average Joe Finances","startTime":1474.545,"endTime":1478.405,"body":"liquidity, that when an opportunity"},{"speaker":"Average Joe Finances","startTime":1478.405,"endTime":1481.875,"body":"presents itself, you can snatch"},{"speaker":"Average Joe Finances","startTime":1478.405,"endTime":1481.875,"body":"it up, you could jump right in."},{"speaker":"Average Joe Finances","startTime":1482.075,"endTime":1485.05,"body":"So somebody that's still doing"},{"speaker":"Average Joe Finances","startTime":1482.075,"endTime":1485.05,"body":"their monthly  investments, into"},{"speaker":"Average Joe Finances","startTime":1485.05,"endTime":1488.7,"body":"whatever stocks or equities that"},{"speaker":"Average Joe Finances","startTime":1485.05,"endTime":1488.7,"body":"they're trying to invest in."},{"speaker":"Average Joe Finances","startTime":1488.885,"endTime":1490.865,"body":"Monthly, you can still do that."},{"speaker":"Average Joe Finances","startTime":1490.865,"endTime":1494.905,"body":"But at the same time, if you built up"},{"speaker":"Average Joe Finances","startTime":1490.865,"endTime":1494.905,"body":"all this liquidity by paying down your"},{"speaker":"Average Joe Finances","startTime":1494.91,"endTime":1500.115,"body":"mortgage and, having this higher limit now"},{"speaker":"Average Joe Finances","startTime":1494.91,"endTime":1500.115,"body":"on your HeLOCK that when you see something"},{"speaker":"Average Joe Finances","startTime":1500.115,"endTime":1504.545,"body":"just completely dropped down, you can"},{"speaker":"Average Joe Finances","startTime":1500.115,"endTime":1504.545,"body":"snatch it up like what you did with MGM."},{"speaker":"Average Joe Finances","startTime":1504.745,"endTime":1505.635,"body":"That's, super fantastic."},{"speaker":"Average Joe Finances","startTime":1505.835,"endTime":1506.825,"body":"Super fantastic."},{"speaker":"Adam Carroll","startTime":1507.025,"endTime":1510.83,"body":"Yeah and, it's an astute"},{"speaker":"Adam Carroll","startTime":1507.025,"endTime":1510.83,"body":"observation on your part that, that"},{"speaker":"Adam Carroll","startTime":1510.83,"endTime":1514.22,"body":"monthly payment that you're making the"},{"speaker":"Adam Carroll","startTime":1510.83,"endTime":1514.22,"body":"dollar cost, average investment into"},{"speaker":"Adam Carroll","startTime":1514.22,"endTime":1517.57,"body":"your Roth IRA, or what have you, you"},{"speaker":"Adam Carroll","startTime":1514.22,"endTime":1517.57,"body":"can still do that with the shred method."},{"speaker":"Adam Carroll","startTime":1517.57,"endTime":1519.84,"body":"It's not like that's,"},{"speaker":"Adam Carroll","startTime":1517.57,"endTime":1519.84,"body":"that has to be stopped."},{"speaker":"Adam Carroll","startTime":1520.04,"endTime":1524.71,"body":"I can show you the software can show"},{"speaker":"Adam Carroll","startTime":1520.04,"endTime":1524.71,"body":"you in vivid detail where the Delta"},{"speaker":"Adam Carroll","startTime":1524.91,"endTime":1530.14,"body":"between investing in a Roth IRA,"},{"speaker":"Adam Carroll","startTime":1524.91,"endTime":1530.14,"body":"that's averaging six or 7% versus"},{"speaker":"Adam Carroll","startTime":1530.14,"endTime":1533.59,"body":"blasting away the debt and how much how"},{"speaker":"Adam Carroll","startTime":1530.14,"endTime":1533.59,"body":"much you'll save versus how much you"},{"speaker":"Adam Carroll","startTime":1533.595,"endTime":1535.53,"body":"might make, where it really matters."},{"speaker":"Adam Carroll","startTime":1535.535,"endTime":1535.83,"body":"Mike."},{"speaker":"Adam Carroll","startTime":1535.83,"endTime":1539.66,"body":"And this having studied this and"},{"speaker":"Adam Carroll","startTime":1535.83,"endTime":1539.66,"body":"knowing the fire movement, our goal is"},{"speaker":"Adam Carroll","startTime":1539.66,"endTime":1544.15,"body":"to get to a compound interest point on"},{"speaker":"Adam Carroll","startTime":1539.66,"endTime":1544.15,"body":"our investments as fast as possible."},{"speaker":"Adam Carroll","startTime":1544.45,"endTime":1547.87,"body":"if you look at the example of a penny"},{"speaker":"Adam Carroll","startTime":1544.45,"endTime":1547.87,"body":"that doubles every day for 31 days,"},{"speaker":"Adam Carroll","startTime":1548.07,"endTime":1552.06,"body":"it's the last two or three doublings"},{"speaker":"Adam Carroll","startTime":1548.07,"endTime":1552.06,"body":"day, 29, 30 and 31 that gets you"},{"speaker":"Adam Carroll","startTime":1552.06,"endTime":1554.12,"body":"to 10.2 million or whatever it is."},{"speaker":"Adam Carroll","startTime":1554.32,"endTime":1556.48,"body":"We wanna get there as fast as possible."},{"speaker":"Adam Carroll","startTime":1556.68,"endTime":1560.42,"body":"But when you're dollar cost averaging,"},{"speaker":"Adam Carroll","startTime":1556.68,"endTime":1560.42,"body":"that takes a long time, like you're"},{"speaker":"Adam Carroll","startTime":1560.42,"endTime":1565.39,"body":"talking 40 years plus of investing to get"},{"speaker":"Adam Carroll","startTime":1560.42,"endTime":1565.39,"body":"to the point where those doublings happen."},{"speaker":"Adam Carroll","startTime":1565.59,"endTime":1569.36,"body":"We're doing the opposite of that on"},{"speaker":"Adam Carroll","startTime":1565.59,"endTime":1569.36,"body":"shred, where compound interest is"},{"speaker":"Adam Carroll","startTime":1569.36,"endTime":1571.34,"body":"working against you on your mortgage."},{"speaker":"Adam Carroll","startTime":1571.54,"endTime":1573.37,"body":"And we want it working for us."},{"speaker":"Adam Carroll","startTime":1573.46,"endTime":1577.42,"body":"So if we shred the mortgage and"},{"speaker":"Adam Carroll","startTime":1573.46,"endTime":1577.42,"body":"then accelerate the investment, we"},{"speaker":"Adam Carroll","startTime":1577.42,"endTime":1581.06,"body":"get to compound interests on the"},{"speaker":"Adam Carroll","startTime":1577.42,"endTime":1581.06,"body":"positive side, that much faster."},{"speaker":"Average Joe Finances","startTime":1581.26,"endTime":1581.83,"body":"Absolutely."},{"speaker":"Average Joe Finances","startTime":1582.025,"endTime":1585.32,"body":"And, I love the analogy that used"},{"speaker":"Average Joe Finances","startTime":1582.025,"endTime":1585.32,"body":"too , the doubling a penny every day."},{"speaker":"Average Joe Finances","startTime":1585.32,"endTime":1587.36,"body":"I actually saw that recently on TikTok."},{"speaker":"Average Joe Finances","startTime":1587.36,"endTime":1591.53,"body":"It was pretty funny just cuz the accounts"},{"speaker":"Average Joe Finances","startTime":1587.36,"endTime":1591.53,"body":"that I follow are all like financial"},{"speaker":"Average Joe Finances","startTime":1591.73,"endTime":1594.57,"body":"independence and, investing ones."},{"speaker":"Average Joe Finances","startTime":1594.57,"endTime":1597.02,"body":"And one came up where it was"},{"speaker":"Average Joe Finances","startTime":1594.57,"endTime":1597.02,"body":"like, Hey, got a question for you."},{"speaker":"Average Joe Finances","startTime":1597.07,"endTime":1601.08,"body":"If I give you a choice between taking a"},{"speaker":"Average Joe Finances","startTime":1597.07,"endTime":1601.08,"body":"million dollars today,  or giving you a"},{"speaker":"Average Joe Finances","startTime":1601.08,"endTime":1605.69,"body":"penny that doubles itself every single day"},{"speaker":"Average Joe Finances","startTime":1601.08,"endTime":1605.69,"body":"for the next 30 days, what would you pick?"},{"speaker":"Average Joe Finances","startTime":1605.72,"endTime":1608.45,"body":"And I thought for a second, I'm like,"},{"speaker":"Average Joe Finances","startTime":1605.72,"endTime":1608.45,"body":"it gives you like five seconds to think."},{"speaker":"Average Joe Finances","startTime":1608.45,"endTime":1611.91,"body":"I'm like, I'll take the penny that doubles"},{"speaker":"Average Joe Finances","startTime":1608.45,"endTime":1611.91,"body":"every day, because by the time it gets"},{"speaker":"Average Joe Finances","startTime":1611.915,"endTime":1614.37,"body":"to the end of the month, I was like,"},{"speaker":"Average Joe Finances","startTime":1611.915,"endTime":1614.37,"body":"I'm gonna be in the millions for sure."},{"speaker":"Average Joe Finances","startTime":1614.78,"endTime":1614.84,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":1614.845,"endTime":1617.66,"body":"And sure enough, after 30"},{"speaker":"Average Joe Finances","startTime":1614.845,"endTime":1617.66,"body":"days it was like 5.6 million."},{"speaker":"Average Joe Finances","startTime":1617.66,"endTime":1619.6,"body":"So what, you said with the 31 days?"},{"speaker":"Average Joe Finances","startTime":1619.6,"endTime":1620.74,"body":"Of course it'll be 10.2."},{"speaker":"Average Joe Finances","startTime":1621.11,"endTime":1625.1,"body":"But that's the beauty of compound"},{"speaker":"Average Joe Finances","startTime":1621.11,"endTime":1625.1,"body":"interest and the fact that you can get"},{"speaker":"Average Joe Finances","startTime":1625.1,"endTime":1629.285,"body":"there a little quicker and supercharge"},{"speaker":"Average Joe Finances","startTime":1625.1,"endTime":1629.285,"body":"what you're doing with a HELOC just"},{"speaker":"Average Joe Finances","startTime":1629.285,"endTime":1633.355,"body":"makes it all that much more attainable"},{"speaker":"Average Joe Finances","startTime":1629.285,"endTime":1633.355,"body":"for someone that thinks that they"},{"speaker":"Average Joe Finances","startTime":1633.355,"endTime":1634.645,"body":"might not be able to get there."},{"speaker":"Average Joe Finances","startTime":1634.845,"endTime":1637.215,"body":"Or maybe somebody who's a little"},{"speaker":"Average Joe Finances","startTime":1634.845,"endTime":1637.215,"body":"bit older that thinks, man, I"},{"speaker":"Average Joe Finances","startTime":1637.22,"endTime":1639.165,"body":"should have started 20 years ago."},{"speaker":"Average Joe Finances","startTime":1639.635,"endTime":1642.185,"body":"There's still opportunity"},{"speaker":"Average Joe Finances","startTime":1639.635,"endTime":1642.185,"body":"out there for you to do it."},{"speaker":"Average Joe Finances","startTime":1642.335,"endTime":1645.125,"body":"For those of you that are listening"},{"speaker":"Average Joe Finances","startTime":1642.335,"endTime":1645.125,"body":"and not watching this on YouTube,"},{"speaker":"Average Joe Finances","startTime":1645.275,"endTime":1647.905,"body":"you can't see, I'm actually wearing"},{"speaker":"Average Joe Finances","startTime":1645.275,"endTime":1647.905,"body":"my fire shirt today, where it says"},{"speaker":"Average Joe Finances","startTime":1647.905,"endTime":1649.285,"body":"financial independence retire early."},{"speaker":"Average Joe Finances","startTime":1649.485,"endTime":1654.045,"body":"I usually like to just cover up the,"},{"speaker":"Average Joe Finances","startTime":1649.485,"endTime":1654.045,"body":"re part, the retire early, because I"},{"speaker":"Average Joe Finances","startTime":1654.045,"endTime":1657.405,"body":"don't ever consider myself gonna be"},{"speaker":"Average Joe Finances","startTime":1654.045,"endTime":1657.405,"body":"retired even after I retire this year."},{"speaker":"Average Joe Finances","startTime":1657.605,"endTime":1660.725,"body":"It's hitting that point where I'm"},{"speaker":"Average Joe Finances","startTime":1657.605,"endTime":1660.725,"body":"financially independent, where my"},{"speaker":"Average Joe Finances","startTime":1660.725,"endTime":1662.795,"body":"expenses are covered by my passive income."},{"speaker":"Average Joe Finances","startTime":1662.995,"endTime":1665.355,"body":"And to me, that is where I want to be."},{"speaker":"Average Joe Finances","startTime":1665.355,"endTime":1668.615,"body":"Where I think most people want to be"},{"speaker":"Average Joe Finances","startTime":1665.355,"endTime":1668.615,"body":"is at that point where you hit that"},{"speaker":"Average Joe Finances","startTime":1668.615,"endTime":1671.225,"body":"financial independence, and then you"},{"speaker":"Average Joe Finances","startTime":1668.615,"endTime":1671.225,"body":"can do the things that you wanna do."},{"speaker":"Average Joe Finances","startTime":1671.425,"endTime":1675.985,"body":"And the fact that you can use the"},{"speaker":"Average Joe Finances","startTime":1671.425,"endTime":1675.985,"body":"shred method as a vehicle to get there."},{"speaker":"Average Joe Finances","startTime":1676.185,"endTime":1679.445,"body":"A little quicker than you probably"},{"speaker":"Average Joe Finances","startTime":1676.185,"endTime":1679.445,"body":"thought you could have is also"},{"speaker":"Average Joe Finances","startTime":1679.445,"endTime":1682.925,"body":"something that I wanna put out there"},{"speaker":"Average Joe Finances","startTime":1679.445,"endTime":1682.925,"body":"because that's just absolutely awesome."},{"speaker":"Average Joe Finances","startTime":1683.365,"endTime":1686.725,"body":"And it's something that I didn't"},{"speaker":"Average Joe Finances","startTime":1683.365,"endTime":1686.725,"body":"even realize I was trying to do on"},{"speaker":"Average Joe Finances","startTime":1686.73,"endTime":1691.515,"body":"my own with the HELOC but I'm very"},{"speaker":"Average Joe Finances","startTime":1686.73,"endTime":1691.515,"body":"interested in your software and using"},{"speaker":"Average Joe Finances","startTime":1691.52,"endTime":1694.335,"body":"that myself and I'm definitely gonna"},{"speaker":"Average Joe Finances","startTime":1691.52,"endTime":1694.335,"body":"check that out for myself as well."},{"speaker":"Average Joe Finances","startTime":1694.715,"endTime":1697.565,"body":"I'd like to go into something"},{"speaker":"Average Joe Finances","startTime":1694.715,"endTime":1697.565,"body":"now that we call the final round."},{"speaker":"Average Joe Finances","startTime":1697.765,"endTime":1699.745,"body":"And this is where I'm gonna ask"},{"speaker":"Average Joe Finances","startTime":1697.765,"endTime":1699.745,"body":"you four questions that I ask"},{"speaker":"Average Joe Finances","startTime":1699.745,"endTime":1700.795,"body":"everybody that comes on the show."},{"speaker":"Average Joe Finances","startTime":1700.995,"endTime":1703.665,"body":"So if you're ready to go, these"},{"speaker":"Average Joe Finances","startTime":1700.995,"endTime":1703.665,"body":"are four hard-hitting questions."},{"speaker":"Average Joe Finances","startTime":1704.08,"endTime":1705.965,"body":"I'll hit the go button"},{"speaker":"Average Joe Finances","startTime":1704.08,"endTime":1705.965,"body":"and we'll get going on it."},{"speaker":"Adam Carroll","startTime":1706.165,"endTime":1706.945,"body":"Fire away, Mike."},{"speaker":"Average Joe Finances","startTime":1707.145,"endTime":1707.325,"body":"All right."},{"speaker":"Average Joe Finances","startTime":1707.325,"endTime":1710.595,"body":"And even behind you, I see that"},{"speaker":"Average Joe Finances","startTime":1707.325,"endTime":1710.595,"body":"picture that says set goals and go, so"},{"speaker":"Average Joe Finances","startTime":1710.595,"endTime":1711.825,"body":"that's what we're gonna do right now."},{"speaker":"Adam Carroll","startTime":1712.025,"endTime":1712.385,"body":"I love it."},{"speaker":"Adam Carroll","startTime":1712.385,"endTime":1712.585,"body":"Yes."},{"speaker":"Average Joe Finances","startTime":1712.785,"endTime":1715.175,"body":"So the"},{"speaker":"Average Joe Finances","startTime":1712.785,"endTime":1715.175,"body":"first question is, what's the"},{"speaker":"Average Joe Finances","startTime":1715.175,"endTime":1716.875,"body":"biggest mistake you've ever make?"},{"speaker":"Adam Carroll","startTime":1716.995,"endTime":1717.565,"body":"Oh, man."},{"speaker":"Adam Carroll","startTime":1717.595,"endTime":1721.065,"body":"I love this question and I hate this"},{"speaker":"Adam Carroll","startTime":1717.595,"endTime":1721.065,"body":"question because I'm a big believer,"},{"speaker":"Adam Carroll","startTime":1721.065,"endTime":1722.505,"body":"like we learned from our mistakes."},{"speaker":"Adam Carroll","startTime":1722.505,"endTime":1726.165,"body":"There are lessons learned, so we"},{"speaker":"Adam Carroll","startTime":1722.505,"endTime":1726.165,"body":"either win or we grow, we never fail."},{"speaker":"Adam Carroll","startTime":1726.365,"endTime":1729.065,"body":"But I, had a massive failure and that was."},{"speaker":"Adam Carroll","startTime":1729.265,"endTime":1732.325,"body":"A friend of mine and I were talking"},{"speaker":"Adam Carroll","startTime":1729.265,"endTime":1732.325,"body":"about investing in real estate."},{"speaker":"Adam Carroll","startTime":1732.355,"endTime":1733.885,"body":"We were completely green."},{"speaker":"Adam Carroll","startTime":1734.085,"endTime":1736.215,"body":"I owned a duplex at the"},{"speaker":"Adam Carroll","startTime":1734.085,"endTime":1736.215,"body":"time and that was it."},{"speaker":"Adam Carroll","startTime":1736.415,"endTime":1739.535,"body":"And he's Hey, let's go to this auction."},{"speaker":"Adam Carroll","startTime":1739.735,"endTime":1743.51,"body":"And it was literally like a state"},{"speaker":"Adam Carroll","startTime":1739.735,"endTime":1743.51,"body":"auction Sheriff's sale, where you're"},{"speaker":"Adam Carroll","startTime":1743.51,"endTime":1747.26,"body":"on the, doorstep of this house"},{"speaker":"Adam Carroll","startTime":1743.51,"endTime":1747.26,"body":"and the auctioneer is calling it."},{"speaker":"Adam Carroll","startTime":1747.32,"endTime":1750.78,"body":"And in the moment you're like getting"},{"speaker":"Adam Carroll","startTime":1747.32,"endTime":1750.78,"body":"caught up in, I'm gonna get this"},{"speaker":"Adam Carroll","startTime":1750.78,"endTime":1752.25,"body":"house and it's gonna be a steal."},{"speaker":"Adam Carroll","startTime":1752.45,"endTime":1754.37,"body":"I was taking everything on hearsay."},{"speaker":"Adam Carroll","startTime":1754.57,"endTime":1757.51,"body":"Someone made some comment"},{"speaker":"Adam Carroll","startTime":1754.57,"endTime":1757.51,"body":"about what the value was."},{"speaker":"Adam Carroll","startTime":1757.71,"endTime":1759.48,"body":"I assumed that was gospel truth."},{"speaker":"Adam Carroll","startTime":1759.68,"endTime":1764.47,"body":"And at, the end, like my partner and"},{"speaker":"Adam Carroll","startTime":1759.68,"endTime":1764.47,"body":"I had our hand up and no one else did."},{"speaker":"Adam Carroll","startTime":1764.67,"endTime":1768.08,"body":"And at that moment I was like,"},{"speaker":"Adam Carroll","startTime":1764.67,"endTime":1768.08,"body":"oh crap, I, we just bought this."},{"speaker":"Adam Carroll","startTime":1768.28,"endTime":1772.73,"body":"And I had told my wife that I was just"},{"speaker":"Adam Carroll","startTime":1768.28,"endTime":1772.73,"body":"going to see  what it was like, so I"},{"speaker":"Adam Carroll","startTime":1772.73,"endTime":1778.02,"body":"come home that day, Mike and I said that"},{"speaker":"Adam Carroll","startTime":1772.73,"endTime":1778.02,"body":"auction that I was going to today and"},{"speaker":"Adam Carroll","startTime":1778.02,"endTime":1781.91,"body":"my wife got this just devastated look,"},{"speaker":"Adam Carroll","startTime":1778.02,"endTime":1781.91,"body":"and she goes, you bought it, didn't you."},{"speaker":"Adam Carroll","startTime":1782.11,"endTime":1785.01,"body":"And I'm telling you, Mike,"},{"speaker":"Adam Carroll","startTime":1782.11,"endTime":1785.01,"body":"this was the money pit."},{"speaker":"Adam Carroll","startTime":1785.21,"endTime":1786.59,"body":"We had mold issues."},{"speaker":"Adam Carroll","startTime":1787.09,"endTime":1788.77,"body":"Some of the water pipes had burst."},{"speaker":"Adam Carroll","startTime":1788.97,"endTime":1793.4,"body":"There was a hot tub in a three"},{"speaker":"Adam Carroll","startTime":1788.97,"endTime":1793.4,"body":"season porch that they had literally"},{"speaker":"Adam Carroll","startTime":1793.4,"endTime":1795.41,"body":"built the porch around the hot tub."},{"speaker":"Adam Carroll","startTime":1795.41,"endTime":1798.52,"body":"So we had to cut it in half of"},{"speaker":"Adam Carroll","startTime":1795.41,"endTime":1798.52,"body":"the circular, saw to get it out."},{"speaker":"Adam Carroll","startTime":1798.99,"endTime":1801.15,"body":"And, my lesson really was this."},{"speaker":"Adam Carroll","startTime":1801.35,"endTime":1804.62,"body":"Always, do your due diligence before you"},{"speaker":"Adam Carroll","startTime":1801.35,"endTime":1804.62,"body":"buy a property, know what you're getting"},{"speaker":"Adam Carroll","startTime":1804.62,"endTime":1808.87,"body":"into, be the most educated person at"},{"speaker":"Adam Carroll","startTime":1804.62,"endTime":1808.87,"body":"that auction or in the room, if you're"},{"speaker":"Adam Carroll","startTime":1808.87,"endTime":1814.1,"body":"making an offer and have really talented"},{"speaker":"Adam Carroll","startTime":1808.87,"endTime":1814.1,"body":"people like realtor Mike on your corner"},{"speaker":"Adam Carroll","startTime":1814.3,"endTime":1816.16,"body":"as you're going to, put in offers."},{"speaker":"Adam Carroll","startTime":1816.165,"endTime":1819.3,"body":"But for me, that was the biggest,"},{"speaker":"Adam Carroll","startTime":1816.165,"endTime":1819.3,"body":"that was definitely the biggest."},{"speaker":"Average Joe Finances","startTime":1819.5,"endTime":1822.41,"body":"Wow, Adam that's"},{"speaker":"Average Joe Finances","startTime":1819.5,"endTime":1822.41,"body":"that one hurt just listening to it."},{"speaker":"Average Joe Finances","startTime":1822.41,"endTime":1825.34,"body":"I was sitting here, just"},{"speaker":"Average Joe Finances","startTime":1822.41,"endTime":1825.34,"body":"gritting my teeth oh it's funny."},{"speaker":"Average Joe Finances","startTime":1825.61,"endTime":1828.58,"body":"Cuz you know, recently there was an"},{"speaker":"Average Joe Finances","startTime":1825.61,"endTime":1828.58,"body":"auction out here for a property that"},{"speaker":"Average Joe Finances","startTime":1828.58,"endTime":1830.29,"body":"I was actually looking at in Hawaii."},{"speaker":"Average Joe Finances","startTime":1830.49,"endTime":1833.04,"body":"And I, told myself, I was like, ah,"},{"speaker":"Average Joe Finances","startTime":1830.49,"endTime":1833.04,"body":"I'm not, I don't know if I could buy"},{"speaker":"Average Joe Finances","startTime":1833.04,"endTime":1834.24,"body":"an investment property in Hawaii."},{"speaker":"Average Joe Finances","startTime":1834.24,"endTime":1835.26,"body":"It's just so expensive here."},{"speaker":"Average Joe Finances","startTime":1835.26,"endTime":1837.29,"body":"And I was like, and I saw this"},{"speaker":"Average Joe Finances","startTime":1835.26,"endTime":1837.29,"body":"one coming up for auction."},{"speaker":"Average Joe Finances","startTime":1837.49,"endTime":1838.24,"body":"In my neighborhood."},{"speaker":"Average Joe Finances","startTime":1838.24,"endTime":1843.28,"body":"And I'm like, Ooh, if I can get this"},{"speaker":"Average Joe Finances","startTime":1838.24,"endTime":1843.28,"body":"one for 830 or less, I think with,"},{"speaker":"Average Joe Finances","startTime":1843.46,"endTime":1846.07,"body":"because I got being a realtor, I"},{"speaker":"Average Joe Finances","startTime":1843.46,"endTime":1846.07,"body":"got a chance to go look inside of"},{"speaker":"Average Joe Finances","startTime":1846.07,"endTime":1847.8,"body":"it and everything and, check it out."},{"speaker":"Average Joe Finances","startTime":1848.0,"endTime":1849.46,"body":"I said, easy fixes."},{"speaker":"Average Joe Finances","startTime":1849.735,"endTime":1852.25,"body":"Maybe 10 to 20K into this thing."},{"speaker":"Average Joe Finances","startTime":1852.45,"endTime":1856.13,"body":"I'll probably be 850 all"},{"speaker":"Average Joe Finances","startTime":1852.45,"endTime":1856.13,"body":"in and looking at the."},{"speaker":"Average Joe Finances","startTime":1856.33,"endTime":1857.56,"body":"The comps in the area."},{"speaker":"Average Joe Finances","startTime":1857.77,"endTime":1862.5,"body":"And, I was like, this could"},{"speaker":"Average Joe Finances","startTime":1857.77,"endTime":1862.5,"body":"easily sell for 959, 60-ish."},{"speaker":"Average Joe Finances","startTime":1862.85,"endTime":1864.41,"body":"I think I'd be in a pretty good spot."},{"speaker":"Average Joe Finances","startTime":1864.565,"endTime":1869.14,"body":"Anyway come, to the auction day"},{"speaker":"Average Joe Finances","startTime":1864.565,"endTime":1869.14,"body":"and it actually goes for 949 and I"},{"speaker":"Average Joe Finances","startTime":1869.14,"endTime":1871.47,"body":"said, woo, glad I did not do that."},{"speaker":"Average Joe Finances","startTime":1871.59,"endTime":1873.65,"body":"But the person who got it's"},{"speaker":"Average Joe Finances","startTime":1871.59,"endTime":1873.65,"body":"probably gonna live in it."},{"speaker":"Average Joe Finances","startTime":1874.15,"endTime":1874.84,"body":"I don't think they were."},{"speaker":"Average Joe Finances","startTime":1875.04,"endTime":1877.7,"body":"But yeah, as an investor, the whole"},{"speaker":"Average Joe Finances","startTime":1875.04,"endTime":1877.7,"body":"thing I'm thinking was like, I'm"},{"speaker":"Average Joe Finances","startTime":1877.7,"endTime":1879.17,"body":"not gonna pay a dime over 830."},{"speaker":"Average Joe Finances","startTime":1879.25,"endTime":1881.92,"body":"I'm glad I got, I had a chance"},{"speaker":"Average Joe Finances","startTime":1879.25,"endTime":1881.92,"body":"to go and take a look at that"},{"speaker":"Average Joe Finances","startTime":1882.13,"endTime":1883.63,"body":"and, do my due diligence on it."},{"speaker":"Average Joe Finances","startTime":1883.63,"endTime":1886.7,"body":"But that's why as you were"},{"speaker":"Average Joe Finances","startTime":1883.63,"endTime":1886.7,"body":"describing this, I was like oh,"},{"speaker":"Average Joe Finances","startTime":1886.705,"endTime":1887.9,"body":"what do you get himself into?"},{"speaker":"Adam Carroll","startTime":1888.1,"endTime":1889.66,"body":"So you"},{"speaker":"Adam Carroll","startTime":1888.1,"endTime":1889.66,"body":"gotta know your numbers."},{"speaker":"Adam Carroll","startTime":1890.08,"endTime":1891.4,"body":"You have to know your numbers."},{"speaker":"Adam Carroll","startTime":1891.5,"endTime":1893.4,"body":"And I learned it was a valuable lesson."},{"speaker":"Adam Carroll","startTime":1893.4,"endTime":1894.81,"body":"It was a long lesson learned."},{"speaker":"Adam Carroll","startTime":1894.81,"endTime":1898.29,"body":"I think I held that home for four or five"},{"speaker":"Adam Carroll","startTime":1894.81,"endTime":1898.29,"body":"years before I finally got rid of it."},{"speaker":"Adam Carroll","startTime":1898.49,"endTime":1898.79,"body":"Wow."},{"speaker":"Adam Carroll","startTime":1898.82,"endTime":1900.2,"body":"Tenant issue after tenant issue."},{"speaker":"Adam Carroll","startTime":1900.4,"endTime":1903.22,"body":"And I drive by it now"},{"speaker":"Adam Carroll","startTime":1900.4,"endTime":1903.22,"body":"and I'm like, all right."},{"speaker":"Adam Carroll","startTime":1903.42,"endTime":1905.78,"body":"I learned I learned what"},{"speaker":"Adam Carroll","startTime":1903.42,"endTime":1905.78,"body":"I needed to learn from it."},{"speaker":"Adam Carroll","startTime":1905.83,"endTime":1906.61,"body":"And I moved on."},{"speaker":"Average Joe Finances","startTime":1906.81,"endTime":1907.29,"body":"Awesome."},{"speaker":"Average Joe Finances","startTime":1907.47,"endTime":1907.83,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":1908.03,"endTime":1908.93,"body":"Next question."},{"speaker":"Average Joe Finances","startTime":1909.31,"endTime":1910.39,"body":"This is another heavy hitter."},{"speaker":"Average Joe Finances","startTime":1910.42,"endTime":1910.69,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":1910.89,"endTime":1913.674,"body":"And, this, these all kind of tie"},{"speaker":"Average Joe Finances","startTime":1910.89,"endTime":1913.674,"body":"into each other, so you'll, see that."},{"speaker":"Average Joe Finances","startTime":1913.679,"endTime":1917.654,"body":"But what is something that you"},{"speaker":"Average Joe Finances","startTime":1913.679,"endTime":1917.654,"body":"learned that you wish you knew"},{"speaker":"Average Joe Finances","startTime":1917.654,"endTime":1919.154,"body":"when you first got started?"},{"speaker":"Adam Carroll","startTime":1919.354,"endTime":1919.864,"body":"Oh, man."},{"speaker":"Adam Carroll","startTime":1920.064,"endTime":1924.784,"body":"This, this method, candidly, that"},{"speaker":"Adam Carroll","startTime":1920.064,"endTime":1924.784,"body":"nothing has created well faster for"},{"speaker":"Adam Carroll","startTime":1924.784,"endTime":1926.524,"body":"me than, knowing how to do this."},{"speaker":"Adam Carroll","startTime":1926.724,"endTime":1930.734,"body":"And I wish I had learned about"},{"speaker":"Adam Carroll","startTime":1926.724,"endTime":1930.734,"body":"buying a duplex or a fourplex when"},{"speaker":"Adam Carroll","startTime":1930.734,"endTime":1932.674,"body":"I was in my twenties and shred it."},{"speaker":"Adam Carroll","startTime":1932.874,"endTime":1937.624,"body":"If, there are 18 to 25 year olds"},{"speaker":"Adam Carroll","startTime":1932.874,"endTime":1937.624,"body":"out there, do yourself a favor, go"},{"speaker":"Adam Carroll","startTime":1937.624,"endTime":1942.284,"body":"find a duplex or a fourplex live in"},{"speaker":"Adam Carroll","startTime":1937.624,"endTime":1942.284,"body":"one unit, shred the heck out of it."},{"speaker":"Adam Carroll","startTime":1942.484,"endTime":1946.114,"body":"And within three or four years, if"},{"speaker":"Adam Carroll","startTime":1942.484,"endTime":1946.114,"body":"you're living on less than you make,"},{"speaker":"Adam Carroll","startTime":1946.314,"endTime":1951.184,"body":"you'll have a completely paid for"},{"speaker":"Adam Carroll","startTime":1946.314,"endTime":1951.184,"body":"asset that will become the foundation"},{"speaker":"Adam Carroll","startTime":1951.184,"endTime":1952.984,"body":"for your wealth building machine."},{"speaker":"Adam Carroll","startTime":1953.184,"endTime":1956.874,"body":". I so wish I had taken the advice that"},{"speaker":"Adam Carroll","startTime":1953.184,"endTime":1956.874,"body":"I give to college students today."},{"speaker":"Adam Carroll","startTime":1957.074,"endTime":1960.764,"body":"Cuz I'd be, not that we're not,"},{"speaker":"Adam Carroll","startTime":1957.074,"endTime":1960.764,"body":"we're in the fire movement."},{"speaker":"Adam Carroll","startTime":1960.764,"endTime":1962.384,"body":"I mean we're in coast fire for sure."},{"speaker":"Adam Carroll","startTime":1962.584,"endTime":1966.384,"body":"But it's man, we would've been"},{"speaker":"Adam Carroll","startTime":1962.584,"endTime":1966.384,"body":"in a way different scenario."},{"speaker":"Average Joe Finances","startTime":1966.584,"endTime":1967.244,"body":"Absolutely."},{"speaker":"Average Joe Finances","startTime":1967.364,"endTime":1967.934,"body":"Absolutely."},{"speaker":"Average Joe Finances","startTime":1968.024,"endTime":1968.204,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":1968.404,"endTime":1972.944,"body":"The best part is because you're talking"},{"speaker":"Average Joe Finances","startTime":1968.404,"endTime":1972.944,"body":"about how you teach a college teach"},{"speaker":"Average Joe Finances","startTime":1972.944,"endTime":1974.624,"body":"this method to college students today."},{"speaker":"Average Joe Finances","startTime":1975.034,"endTime":1977.344,"body":"That kind of ties in again"},{"speaker":"Average Joe Finances","startTime":1975.034,"endTime":1977.344,"body":"into the next question."},{"speaker":"Average Joe Finances","startTime":1977.544,"endTime":1981.194,"body":"And is do you have any tips or tricks"},{"speaker":"Average Joe Finances","startTime":1977.544,"endTime":1981.194,"body":"that you would recommend to someone"},{"speaker":"Average Joe Finances","startTime":1981.194,"endTime":1983.014,"body":"that is just getting started today?"},{"speaker":"Adam Carroll","startTime":1983.114,"endTime":1986.684,"body":"So this, has somewhat"},{"speaker":"Adam Carroll","startTime":1983.114,"endTime":1986.684,"body":"to do with what we talked about before"},{"speaker":"Adam Carroll","startTime":1986.684,"endTime":1989.644,"body":"and buying the house, but someone"},{"speaker":"Adam Carroll","startTime":1986.684,"endTime":1989.644,"body":"that's getting started today, what"},{"speaker":"Adam Carroll","startTime":1989.644,"endTime":1994.844,"body":"I would wholeheartedly recommend is"},{"speaker":"Adam Carroll","startTime":1989.644,"endTime":1994.844,"body":"finding someone in your close proximity"},{"speaker":"Adam Carroll","startTime":1995.044,"endTime":1996.574,"body":"that will mentor and guide you."},{"speaker":"Adam Carroll","startTime":1996.774,"endTime":2001.384,"body":"I have found that mentors and people who"},{"speaker":"Adam Carroll","startTime":1996.774,"endTime":2001.384,"body":"have come before you and done it already"},{"speaker":"Adam Carroll","startTime":2001.584,"endTime":2006.294,"body":"are more than willing to help you set you"},{"speaker":"Adam Carroll","startTime":2001.584,"endTime":2006.294,"body":"on the right path and, I've had a number"},{"speaker":"Adam Carroll","startTime":2006.294,"endTime":2010.124,"body":"of tremendous mentors in my life, but"},{"speaker":"Adam Carroll","startTime":2006.294,"endTime":2010.124,"body":"if I were getting started right now and"},{"speaker":"Adam Carroll","startTime":2010.124,"endTime":2013.594,"body":"I knew that let's say it's real estate"},{"speaker":"Adam Carroll","startTime":2010.124,"endTime":2013.594,"body":"that I wanted to be a part of Mike."},{"speaker":"Adam Carroll","startTime":2013.794,"endTime":2017.794,"body":"I would go figure out whether"},{"speaker":"Adam Carroll","startTime":2013.794,"endTime":2017.794,"body":"it's bigger pockets or guys like"},{"speaker":"Adam Carroll","startTime":2017.794,"endTime":2020.004,"body":"Diego Corzo  or whoever it is."},{"speaker":"Adam Carroll","startTime":2020.004,"endTime":2023.894,"body":"I would go find these guys and, have"},{"speaker":"Adam Carroll","startTime":2020.004,"endTime":2023.894,"body":"them coach and guide and mentor me."},{"speaker":"Adam Carroll","startTime":2024.094,"endTime":2026.404,"body":"Cuz they're gonna help you"},{"speaker":"Adam Carroll","startTime":2024.094,"endTime":2026.404,"body":"avoid so many pitfalls."},{"speaker":"Adam Carroll","startTime":2026.814,"endTime":2029.654,"body":"I think if I'd had the right"},{"speaker":"Adam Carroll","startTime":2026.814,"endTime":2029.654,"body":"person in my corner on that"},{"speaker":"Adam Carroll","startTime":2029.654,"endTime":2030.644,"body":"house purchase, they'd have been."},{"speaker":"Adam Carroll","startTime":2030.844,"endTime":2034.114,"body":"Hey, don't go above 140, you're"},{"speaker":"Adam Carroll","startTime":2030.844,"endTime":2034.114,"body":"gonna get hosed if you do."},{"speaker":"Adam Carroll","startTime":2034.554,"endTime":2037.574,"body":"And, I would've bypassed that and"},{"speaker":"Adam Carroll","startTime":2034.554,"endTime":2037.574,"body":"gone to the next home that he would've"},{"speaker":"Adam Carroll","startTime":2037.574,"endTime":2038.894,"body":"said here, this is a good one."},{"speaker":"Adam Carroll","startTime":2039.094,"endTime":2039.724,"body":"Do this one."},{"speaker":"Adam Carroll","startTime":2039.924,"endTime":2040.584,"body":"You know what I mean?"},{"speaker":"Adam Carroll","startTime":2040.684,"endTime":2046.624,"body":"So bottom line mentors find them, spend"},{"speaker":"Adam Carroll","startTime":2040.684,"endTime":2046.624,"body":"time, appreciate them, buy them coffee,"},{"speaker":"Adam Carroll","startTime":2046.624,"endTime":2048.604,"body":"buy them dinner, pick their brain."},{"speaker":"Adam Carroll","startTime":2048.804,"endTime":2050.034,"body":"That's my best advice there."},{"speaker":"Average Joe Finances","startTime":2050.234,"endTime":2052.484,"body":"Yeah, no, I"},{"speaker":"Average Joe Finances","startTime":2050.234,"endTime":2052.484,"body":"absolutely love that answer because"},{"speaker":"Average Joe Finances","startTime":2052.684,"endTime":2055.444,"body":"it's one of the things I talk about"},{"speaker":"Average Joe Finances","startTime":2052.684,"endTime":2055.444,"body":"on this show a lot and, a lot of my"},{"speaker":"Average Joe Finances","startTime":2055.444,"endTime":2058.974,"body":"guests have come on and said the same"},{"speaker":"Average Joe Finances","startTime":2055.444,"endTime":2058.974,"body":"thing and besides just a mentor is just"},{"speaker":"Average Joe Finances","startTime":2058.979,"endTime":2060.204,"body":"that whole networking piece, right?"},{"speaker":"Average Joe Finances","startTime":2060.204,"endTime":2063.519,"body":"If you go out and you find somebody,"},{"speaker":"Average Joe Finances","startTime":2060.204,"endTime":2063.519,"body":"you meet people that's, huge."},{"speaker":"Average Joe Finances","startTime":2063.519,"endTime":2067.829,"body":"And you could find yourself a great"},{"speaker":"Average Joe Finances","startTime":2063.519,"endTime":2067.829,"body":"mentor at a local real estate meetup"},{"speaker":"Average Joe Finances","startTime":2068.009,"endTime":2071.469,"body":"find somebody that you can just"},{"speaker":"Average Joe Finances","startTime":2068.009,"endTime":2071.469,"body":"have that conversation with and"},{"speaker":"Average Joe Finances","startTime":2071.469,"endTime":2075.719,"body":"have them in your corner that, that"},{"speaker":"Average Joe Finances","startTime":2071.469,"endTime":2075.719,"body":"can really make, a big difference"},{"speaker":"Average Joe Finances","startTime":2075.719,"endTime":2077.999,"body":"in, in your own personal journey."},{"speaker":"Average Joe Finances","startTime":2078.199,"endTime":2081.589,"body":"A lot of people think that they might"},{"speaker":"Average Joe Finances","startTime":2078.199,"endTime":2081.589,"body":"have to do this alone, but you don't"},{"speaker":"Average Joe Finances","startTime":2081.789,"endTime":2084.514,"body":"this real estate is mostly a team sport."},{"speaker":"Average Joe Finances","startTime":2084.714,"endTime":2087.594,"body":"So if you are getting into real"},{"speaker":"Average Joe Finances","startTime":2084.714,"endTime":2087.594,"body":"estate investing, definitely go meet"},{"speaker":"Average Joe Finances","startTime":2087.594,"endTime":2089.384,"body":"other people and take on a mentor."},{"speaker":"Average Joe Finances","startTime":2089.384,"endTime":2090.914,"body":"So I absolutely love that answer."},{"speaker":"Average Joe Finances","startTime":2091.114,"endTime":2091.474,"body":"Okay."},{"speaker":"Average Joe Finances","startTime":2091.944,"endTime":2095.774,"body":"Final question of the final"},{"speaker":"Average Joe Finances","startTime":2091.944,"endTime":2095.774,"body":"round is, do you have a favorite"},{"speaker":"Average Joe Finances","startTime":2095.834,"endTime":2101.474,"body":"business investing or real estate"},{"speaker":"Average Joe Finances","startTime":2095.834,"endTime":2101.474,"body":"related book or podcast or both?"},{"speaker":"Average Joe Finances","startTime":2101.674,"endTime":2105.624,"body":"\\"},{"speaker":"Average Joe Finances","startTime":2101.674,"endTime":2105.624,"body":"Adam Carroll: So  my favorite"},{"speaker":"Average Joe Finances","startTime":2105.624,"endTime":2109.004,"body":"right now, cause I'm constantly"},{"speaker":"Average Joe Finances","startTime":2105.624,"endTime":2109.004,"body":"reading and, it feels like I have a"},{"speaker":"Average Joe Finances","startTime":2109.004,"endTime":2110.744,"body":"rotating bookshelf of favorite books."},{"speaker":"Average Joe Finances","startTime":2110.944,"endTime":2114.064,"body":"One has been there and I'll talk about"},{"speaker":"Average Joe Finances","startTime":2110.944,"endTime":2114.064,"body":"that one kind of the, perpetual book"},{"speaker":"Average Joe Finances","startTime":2114.069,"endTime":2118.169,"body":"that's on it, but Traction which is a book"},{"speaker":"Average Joe Finances","startTime":2114.069,"endTime":2118.169,"body":"for small business entrepreneurs, you"},{"speaker":"Average Joe Finances","startTime":2118.174,"endTime":2120.049,"body":"have it right there doing, there we go."},{"speaker":"Average Joe Finances","startTime":2120.249,"endTime":2122.139,"body":"So I love the book Traction."},{"speaker":"Average Joe Finances","startTime":2122.339,"endTime":2126.559,"body":"I really love what it's done for my"},{"speaker":"Average Joe Finances","startTime":2122.339,"endTime":2126.559,"body":"business in terms of creating streamlined"},{"speaker":"Average Joe Finances","startTime":2126.559,"endTime":2130.059,"body":"efficiencies and systems, and being"},{"speaker":"Average Joe Finances","startTime":2126.559,"endTime":2130.059,"body":"very clear about expectations for"},{"speaker":"Average Joe Finances","startTime":2130.059,"endTime":2132.059,"body":"my team, but I'll tell you a book."},{"speaker":"Average Joe Finances","startTime":2132.064,"endTime":2135.099,"body":"I'll give you a book that you might"},{"speaker":"Average Joe Finances","startTime":2132.064,"endTime":2135.099,"body":"not have heard of Mike and the book"},{"speaker":"Average Joe Finances","startTime":2135.104,"endTime":2138.974,"body":"is called A Happy Pocket Full of"},{"speaker":"Average Joe Finances","startTime":2135.104,"endTime":2138.974,"body":"Money and it's by a guy named David"},{"speaker":"Average Joe Finances","startTime":2138.974,"endTime":2143.209,"body":"Cameron Gikandi the secret to this"},{"speaker":"Average Joe Finances","startTime":2138.974,"endTime":2143.209,"body":"is, I read it at least twice a year."},{"speaker":"Average Joe Finances","startTime":2143.209,"endTime":2146.679,"body":"And typically when I'm going on vacation"},{"speaker":"Average Joe Finances","startTime":2143.209,"endTime":2146.679,"body":"or I'm taking a long trip, I'll pull"},{"speaker":"Average Joe Finances","startTime":2146.679,"endTime":2148.719,"body":"it out, take it with me and read it."},{"speaker":"Average Joe Finances","startTime":2148.919,"endTime":2152.429,"body":"And the book is less about money"},{"speaker":"Average Joe Finances","startTime":2148.919,"endTime":2152.429,"body":"and more about quantum physics."},{"speaker":"Average Joe Finances","startTime":2152.629,"endTime":2156.579,"body":"And it's the idea that like it is our"},{"speaker":"Average Joe Finances","startTime":2152.629,"endTime":2156.579,"body":"ideas, it is our thoughts, it is our"},{"speaker":"Average Joe Finances","startTime":2156.579,"endTime":2160.699,"body":"vision, our belief in things happening"},{"speaker":"Average Joe Finances","startTime":2156.579,"endTime":2160.699,"body":"that will bring them closer to us."},{"speaker":"Average Joe Finances","startTime":2161.174,"endTime":2163.989,"body":"And, there's a little bit of think"},{"speaker":"Average Joe Finances","startTime":2161.174,"endTime":2163.989,"body":"and grow rich in there about having"},{"speaker":"Average Joe Finances","startTime":2163.989,"endTime":2167.049,"body":"definiteness of purpose and doing"},{"speaker":"Average Joe Finances","startTime":2163.989,"endTime":2167.049,"body":"one thing and doing it really well."},{"speaker":"Average Joe Finances","startTime":2167.249,"endTime":2171.549,"body":"But I read it all the time when I read"},{"speaker":"Average Joe Finances","startTime":2167.249,"endTime":2171.549,"body":"it from time to time, I should say."},{"speaker":"Average Joe Finances","startTime":2171.749,"endTime":2176.569,"body":"I'm reinspired to get super focused and"},{"speaker":"Average Joe Finances","startTime":2171.749,"endTime":2176.569,"body":"clear on what it is I want because the"},{"speaker":"Average Joe Finances","startTime":2176.574,"endTime":2181.019,"body":"people who, achieve the most in life"},{"speaker":"Average Joe Finances","startTime":2176.574,"endTime":2181.019,"body":"are the people who are clearest about"},{"speaker":"Average Joe Finances","startTime":2181.024,"endTime":2182.279,"body":"what it is they're there to achieve."},{"speaker":"Average Joe Finances","startTime":2182.479,"endTime":2185.299,"body":"So somebody who says I'm gonna"},{"speaker":"Average Joe Finances","startTime":2182.479,"endTime":2185.299,"body":"build a $10,000 passive income."},{"speaker":"Average Joe Finances","startTime":2185.499,"endTime":2187.809,"body":"And that's, they're doggedly"},{"speaker":"Average Joe Finances","startTime":2185.499,"endTime":2187.809,"body":"determined to do it."},{"speaker":"Average Joe Finances","startTime":2187.959,"endTime":2189.029,"body":"They'll do it, right?"},{"speaker":"Average Joe Finances","startTime":2189.029,"endTime":2190.199,"body":"They're super clear on it."},{"speaker":"Average Joe Finances","startTime":2190.399,"endTime":2195.129,"body":"So I would highly recommend Traction"},{"speaker":"Average Joe Finances","startTime":2190.399,"endTime":2195.129,"body":"for Entrepreneurs and A Happy Pocket"},{"speaker":"Average Joe Finances","startTime":2195.134,"endTime":2196.569,"body":"Full of Money for anyone else."},{"speaker":"Average Joe Finances","startTime":2196.769,"endTime":2199.439,"body":"No matter your business, just to get"},{"speaker":"Average Joe Finances","startTime":2196.769,"endTime":2199.439,"body":"really clear about what you want."},{"speaker":"Average Joe Finances","startTime":2199.639,"endTime":2200.329,"body":"Absolutely love that."},{"speaker":"Average Joe Finances","startTime":2200.779,"endTime":2204.199,"body":"I'm, definitely gonna look that book up"},{"speaker":"Average Joe Finances","startTime":2200.779,"endTime":2204.199,"body":"as well, A Happy Pocket Full of Money."},{"speaker":"Average Joe Finances","startTime":2204.469,"endTime":2206.279,"body":"That just sounds like"},{"speaker":"Average Joe Finances","startTime":2204.469,"endTime":2206.279,"body":"a good book  to read."},{"speaker":"Average Joe Finances","startTime":2206.329,"endTime":2208.459,"body":"My pockets would be happy"},{"speaker":"Average Joe Finances","startTime":2206.329,"endTime":2208.459,"body":"if they were full of money."},{"speaker":"Adam Carroll","startTime":2208.659,"endTime":2209.499,"body":"So that's it."},{"speaker":"Adam Carroll","startTime":2209.829,"endTime":2211.859,"body":"It's all about like I am joy."},{"speaker":"Adam Carroll","startTime":2211.979,"endTime":2213.169,"body":"I am I am joy."},{"speaker":"Adam Carroll","startTime":2213.169,"endTime":2214.099,"body":"I am abundance."},{"speaker":"Adam Carroll","startTime":2214.159,"endTime":2215.119,"body":"I'm a money magnet."},{"speaker":"Adam Carroll","startTime":2215.149,"endTime":2216.289,"body":"Those kind of messages."},{"speaker":"Adam Carroll","startTime":2216.489,"endTime":2219.159,"body":"One of the things that I remember"},{"speaker":"Adam Carroll","startTime":2216.489,"endTime":2219.159,"body":"from the book, candidly, Mike is,"},{"speaker":"Adam Carroll","startTime":2219.359,"endTime":2223.529,"body":"how can you ever enjoy something if"},{"speaker":"Adam Carroll","startTime":2219.359,"endTime":2223.529,"body":"you are not enjoy while doing it."},{"speaker":"Adam Carroll","startTime":2223.729,"endTime":2229.179,"body":"And so he says, go find things you"},{"speaker":"Adam Carroll","startTime":2223.729,"endTime":2229.179,"body":"enjoy, be enjoy while you do them and"},{"speaker":"Adam Carroll","startTime":2229.179,"endTime":2230.769,"body":"watch all the goodness come back to you."},{"speaker":"Adam Carroll","startTime":2230.769,"endTime":2234.379,"body":"So like with real estate, for"},{"speaker":"Adam Carroll","startTime":2230.769,"endTime":2234.379,"body":"me in that house, I had to get"},{"speaker":"Adam Carroll","startTime":2234.379,"endTime":2236.089,"body":"away from real estate for a time."},{"speaker":"Adam Carroll","startTime":2236.239,"endTime":2238.699,"body":"Cuz I was so frustrated with that house."},{"speaker":"Adam Carroll","startTime":2238.899,"endTime":2241.179,"body":"I was never enjoy while I was there."},{"speaker":"Adam Carroll","startTime":2241.379,"endTime":2244.409,"body":"And then I started realizing I"},{"speaker":"Adam Carroll","startTime":2241.379,"endTime":2244.409,"body":"could be enjoy doing a whole lot of"},{"speaker":"Adam Carroll","startTime":2244.409,"endTime":2247.969,"body":"other things like I'm enjoy when I'm"},{"speaker":"Adam Carroll","startTime":2244.409,"endTime":2247.969,"body":"showing people shred and teaching."},{"speaker":"Adam Carroll","startTime":2247.969,"endTime":2250.549,"body":"'em how to blast away debt"},{"speaker":"Adam Carroll","startTime":2247.969,"endTime":2250.549,"body":"and, invest for the future."},{"speaker":"Adam Carroll","startTime":2250.749,"endTime":2255.539,"body":"And as a result, the business has grown"},{"speaker":"Adam Carroll","startTime":2250.749,"endTime":2255.539,"body":"and thrived and I think a byproduct,"},{"speaker":"Adam Carroll","startTime":2255.629,"endTime":2257.549,"body":"it is a byproduct of being enjoy."},{"speaker":"Average Joe Finances","startTime":2257.749,"endTime":2258.169,"body":"That's great."},{"speaker":"Average Joe Finances","startTime":2258.369,"endTime":2260.389,"body":"It sounds like a lot"},{"speaker":"Average Joe Finances","startTime":2258.369,"endTime":2260.389,"body":"of affirmations, right?"},{"speaker":"Average Joe Finances","startTime":2260.389,"endTime":2263.409,"body":"Positive affirmations that"},{"speaker":"Average Joe Finances","startTime":2260.389,"endTime":2263.409,"body":"the book just gets you to,"},{"speaker":"Average Joe Finances","startTime":2263.439,"endTime":2264.849,"body":"really think about that stuff."},{"speaker":"Average Joe Finances","startTime":2265.049,"endTime":2267.079,"body":"It's one of the things that I"},{"speaker":"Average Joe Finances","startTime":2265.049,"endTime":2267.079,"body":"love about, like when I do my"},{"speaker":"Average Joe Finances","startTime":2267.079,"endTime":2270.709,"body":"daily journaling and, I'm writing"},{"speaker":"Average Joe Finances","startTime":2267.079,"endTime":2270.709,"body":"down my affirmation for the day."},{"speaker":"Average Joe Finances","startTime":2271.149,"endTime":2274.709,"body":"It's just something that as you"},{"speaker":"Average Joe Finances","startTime":2271.149,"endTime":2274.709,"body":"keep repeating it to yourself and as"},{"speaker":"Average Joe Finances","startTime":2274.714,"endTime":2278.189,"body":"you keep putting it out there it's,"},{"speaker":"Average Joe Finances","startTime":2274.714,"endTime":2278.189,"body":"just something that will always be"},{"speaker":"Average Joe Finances","startTime":2278.189,"endTime":2280.819,"body":"in the back of your mind, whether"},{"speaker":"Average Joe Finances","startTime":2278.189,"endTime":2280.819,"body":"you're a spiritual person or not."},{"speaker":"Average Joe Finances","startTime":2281.289,"endTime":2284.819,"body":"If you repeating something it's always"},{"speaker":"Average Joe Finances","startTime":2281.289,"endTime":2284.819,"body":"gonna be in the back of your mind."},{"speaker":"Average Joe Finances","startTime":2284.849,"endTime":2287.569,"body":"So either way there's still a"},{"speaker":"Average Joe Finances","startTime":2284.849,"endTime":2287.569,"body":"science to it, because it's gonna"},{"speaker":"Average Joe Finances","startTime":2287.569,"endTime":2288.739,"body":"be stuck in the back of your head."},{"speaker":"Average Joe Finances","startTime":2288.939,"endTime":2292.529,"body":"You are just mentally just"},{"speaker":"Average Joe Finances","startTime":2288.939,"endTime":2292.529,"body":"putting it there the entire time."},{"speaker":"Average Joe Finances","startTime":2292.529,"endTime":2296.119,"body":"So you might not be thinking about it"},{"speaker":"Average Joe Finances","startTime":2292.529,"endTime":2296.119,"body":"all the time, but it's always there."},{"speaker":"Average Joe Finances","startTime":2296.319,"endTime":2298.079,"body":"So yeah, a hundred percent love that."},{"speaker":"Average Joe Finances","startTime":2298.294,"endTime":2299.579,"body":"I'm definitely gonna check that book out."},{"speaker":"Adam Carroll","startTime":2299.779,"endTime":2300.879,"body":"Do you remember Jim Rhon?"},{"speaker":"Adam Carroll","startTime":2300.999,"endTime":2301.149,"body":"Yep."},{"speaker":"Adam Carroll","startTime":2301.149,"endTime":2302.379,"body":"Is that name ring bell, Jim Rhon."},{"speaker":"Adam Carroll","startTime":2302.579,"endTime":2306.149,"body":"So he had a saying that, we become"},{"speaker":"Adam Carroll","startTime":2302.579,"endTime":2306.149,"body":"what we think about most of the time."},{"speaker":"Adam Carroll","startTime":2306.349,"endTime":2308.809,"body":"And he also had a joke on top of that."},{"speaker":"Adam Carroll","startTime":2308.809,"endTime":2312.209,"body":"He'd say my dad always said, if that were"},{"speaker":"Adam Carroll","startTime":2308.809,"endTime":2312.209,"body":"true, by the time I was eight, by the"},{"speaker":"Adam Carroll","startTime":2312.209,"endTime":2314.399,"body":"time I was 15, I'd be an 18 year old girl."},{"speaker":"Adam Carroll","startTime":2314.399,"endTime":2317.239,"body":"Unless you hit the rim shot"},{"speaker":"Adam Carroll","startTime":2314.399,"endTime":2317.239,"body":"on your sound effects board."},{"speaker":"Adam Carroll","startTime":2317.339,"endTime":2321.109,"body":"And I, truly believe that, like"},{"speaker":"Adam Carroll","startTime":2317.339,"endTime":2321.109,"body":"what we think about we bring about."},{"speaker":"Adam Carroll","startTime":2321.309,"endTime":2325.199,"body":"And so to your point, if you're doing"},{"speaker":"Adam Carroll","startTime":2321.309,"endTime":2325.199,"body":"affirmations or you're reviewing your"},{"speaker":"Adam Carroll","startTime":2325.199,"endTime":2329.419,"body":"goals every morning, You can't help, but"},{"speaker":"Adam Carroll","startTime":2325.199,"endTime":2329.419,"body":"not achieve those goals at some level,"},{"speaker":"Adam Carroll","startTime":2329.419,"endTime":2333.969,"body":"because you're so focused  on making that"},{"speaker":"Adam Carroll","startTime":2329.419,"endTime":2333.969,"body":"it's always in your mind day after day."},{"speaker":"Average Joe Finances","startTime":2334.169,"endTime":2334.439,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":2334.559,"endTime":2335.369,"body":"That's fantastic."},{"speaker":"Average Joe Finances","startTime":2335.569,"endTime":2335.779,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":2336.054,"endTime":2338.829,"body":"Hey Adam, this has been"},{"speaker":"Average Joe Finances","startTime":2336.054,"endTime":2338.829,"body":"absolutely phenomenal."},{"speaker":"Average Joe Finances","startTime":2339.189,"endTime":2342.499,"body":"Just everything that you've talked"},{"speaker":"Average Joe Finances","startTime":2339.189,"endTime":2342.499,"body":"about with the shred method, even to"},{"speaker":"Average Joe Finances","startTime":2342.504,"endTime":2346.749,"body":"the own lessons that you've learned in"},{"speaker":"Average Joe Finances","startTime":2342.504,"endTime":2346.749,"body":"real estate as well, and what you've"},{"speaker":"Average Joe Finances","startTime":2346.749,"endTime":2349.029,"body":"been able to do with this method."},{"speaker":"Average Joe Finances","startTime":2349.229,"endTime":2351.659,"body":"The actual joy that you"},{"speaker":"Average Joe Finances","startTime":2349.229,"endTime":2351.659,"body":"get out of teaching it to"},{"speaker":"Average Joe Finances","startTime":2351.659,"endTime":2353.779,"body":"others is absolutely awesome."},{"speaker":"Average Joe Finances","startTime":2353.779,"endTime":2357.739,"body":"Being able to have a conversation with"},{"speaker":"Average Joe Finances","startTime":2353.779,"endTime":2357.739,"body":"someone like you, who's genuine and"},{"speaker":"Average Joe Finances","startTime":2357.739,"endTime":2362.469,"body":"genuinely cares about the products"},{"speaker":"Average Joe Finances","startTime":2357.739,"endTime":2362.469,"body":"that they put out and being able to"},{"speaker":"Average Joe Finances","startTime":2362.469,"endTime":2367.649,"body":"actually help other people focus on and"},{"speaker":"Average Joe Finances","startTime":2362.469,"endTime":2367.649,"body":"achieve their goals is something that"},{"speaker":"Average Joe Finances","startTime":2367.649,"endTime":2369.319,"body":"I love doing more than anything else."},{"speaker":"Average Joe Finances","startTime":2369.319,"endTime":2372.159,"body":"So being able to interview you"},{"speaker":"Average Joe Finances","startTime":2369.319,"endTime":2372.159,"body":"and have this conversation has"},{"speaker":"Average Joe Finances","startTime":2372.159,"endTime":2373.809,"body":"actually brought me much joy."},{"speaker":"Average Joe Finances","startTime":2374.009,"endTime":2376.009,"body":"So I wanna say thank you so much for that."},{"speaker":"Average Joe Finances","startTime":2376.129,"endTime":2381.129,"body":"And now for those that are listening"},{"speaker":"Average Joe Finances","startTime":2376.129,"endTime":2381.129,"body":"that have enjoyed this episode and enjoy"},{"speaker":"Average Joe Finances","startTime":2381.129,"endTime":2384.789,"body":"what you're talking about, they're gonna"},{"speaker":"Average Joe Finances","startTime":2381.129,"endTime":2384.789,"body":"wanna know a little bit more about you"},{"speaker":"Average Joe Finances","startTime":2384.989,"endTime":2386.609,"body":"and where they can find that information."},{"speaker":"Average Joe Finances","startTime":2386.609,"endTime":2389.689,"body":"So if you could please just"},{"speaker":"Average Joe Finances","startTime":2386.609,"endTime":2389.689,"body":"share where can people find you?"},{"speaker":"Average Joe Finances","startTime":2389.694,"endTime":2392.509,"body":"Do you have a website any social"},{"speaker":"Average Joe Finances","startTime":2389.694,"endTime":2392.509,"body":"media profiles that people can"},{"speaker":"Average Joe Finances","startTime":2392.514,"endTime":2395.499,"body":"follow and we'll make sure we have"},{"speaker":"Average Joe Finances","startTime":2392.514,"endTime":2395.499,"body":"all that in the show notes as well."},{"speaker":"Adam Carroll","startTime":2395.504,"endTime":2395.599,"body":"Yeah."},{"speaker":"Adam Carroll","startTime":2395.799,"endTime":2396.069,"body":"Yeah."},{"speaker":"Adam Carroll","startTime":2396.069,"endTime":2396.759,"body":"Wonderful."},{"speaker":"Adam Carroll","startTime":2396.959,"endTime":2399.689,"body":"And thank you for the offer"},{"speaker":"Adam Carroll","startTime":2396.959,"endTime":2399.689,"body":"Mike to come on the show."},{"speaker":"Adam Carroll","startTime":2400.069,"endTime":2401.299,"body":"I love what you're doing."},{"speaker":"Adam Carroll","startTime":2401.499,"endTime":2404.634,"body":"I, think the conversational"},{"speaker":"Adam Carroll","startTime":2401.499,"endTime":2404.634,"body":"nature of your podcast is awesome."},{"speaker":"Adam Carroll","startTime":2404.634,"endTime":2407.274,"body":"It's super easy to"},{"speaker":"Adam Carroll","startTime":2404.634,"endTime":2407.274,"body":"listen to, which is fun."},{"speaker":"Adam Carroll","startTime":2407.474,"endTime":2410.924,"body":"People can find me very"},{"speaker":"Adam Carroll","startTime":2407.474,"endTime":2410.924,"body":"simply@theshredmethod.com."},{"speaker":"Adam Carroll","startTime":2411.124,"endTime":2412.304,"body":"We have a prerecorded."},{"speaker":"Adam Carroll","startTime":2412.504,"endTime":2416.224,"body":"Webinar that will teach you everything you"},{"speaker":"Adam Carroll","startTime":2412.504,"endTime":2416.224,"body":"need to know about how the method works."},{"speaker":"Adam Carroll","startTime":2416.424,"endTime":2421.574,"body":"And and then we're, actually launching"},{"speaker":"Adam Carroll","startTime":2416.424,"endTime":2421.574,"body":"a new site that has copious amounts of"},{"speaker":"Adam Carroll","startTime":2421.774,"endTime":2423.754,"body":"what we would call cornerstone content."},{"speaker":"Adam Carroll","startTime":2423.954,"endTime":2428.114,"body":"So you could, you can go down the rabbit"},{"speaker":"Adam Carroll","startTime":2423.954,"endTime":2428.114,"body":"hole on the site and read all about it"},{"speaker":"Adam Carroll","startTime":2428.114,"endTime":2431.924,"body":"all the different ways that it works and"},{"speaker":"Adam Carroll","startTime":2428.114,"endTime":2431.924,"body":"how we built wealth and it helped other"},{"speaker":"Adam Carroll","startTime":2431.924,"endTime":2433.754,"body":"people build wealth using the system."},{"speaker":"Adam Carroll","startTime":2433.954,"endTime":2435.764,"body":"So check out theshredmethod.com."},{"speaker":"Adam Carroll","startTime":2435.984,"endTime":2437.214,"body":"I'm on Instagram."},{"speaker":"Adam Carroll","startTime":2437.414,"endTime":2441.434,"body":"It's Adam dot Carroll C A R R O L L."},{"speaker":"Adam Carroll","startTime":2441.434,"endTime":2442.804,"body":"So follow me on Instagram."},{"speaker":"Adam Carroll","startTime":2443.004,"endTime":2445.284,"body":"And then the shred method"},{"speaker":"Adam Carroll","startTime":2443.004,"endTime":2445.284,"body":"is also on Instagram."},{"speaker":"Adam Carroll","startTime":2445.284,"endTime":2447.184,"body":"It's the.shredmethod."},{"speaker":"Adam Carroll","startTime":2447.674,"endTime":2449.414,"body":"But those are the primary places."},{"speaker":"Average Joe Finances","startTime":2449.614,"endTime":2450.664,"body":"All right so fantastic."},{"speaker":"Average Joe Finances","startTime":2450.669,"endTime":2453.654,"body":"Like I said, I'm gonna have all"},{"speaker":"Average Joe Finances","startTime":2450.669,"endTime":2453.654,"body":"these links in the show notes to"},{"speaker":"Average Joe Finances","startTime":2453.654,"endTime":2456.474,"body":"make it easier for you to either"},{"speaker":"Average Joe Finances","startTime":2453.654,"endTime":2456.474,"body":"click or just copy and paste."},{"speaker":"Average Joe Finances","startTime":2456.674,"endTime":2461.214,"body":"Go follow Adam, go follow The Shred"},{"speaker":"Average Joe Finances","startTime":2456.674,"endTime":2461.214,"body":"Method, see what they're doing as he"},{"speaker":"Average Joe Finances","startTime":2461.214,"endTime":2466.744,"body":"continues to just do his own journey here"},{"speaker":"Average Joe Finances","startTime":2461.214,"endTime":2466.744,"body":"and help other people reach a place where"},{"speaker":"Average Joe Finances","startTime":2466.744,"endTime":2468.364,"body":"they can become financially independent."},{"speaker":"Average Joe Finances","startTime":2468.364,"endTime":2470.524,"body":"That's what we're all about"},{"speaker":"Average Joe Finances","startTime":2468.364,"endTime":2470.524,"body":"here on average show finances."},{"speaker":"Average Joe Finances","startTime":2470.524,"endTime":2473.984,"body":"So Adam, again, much"},{"speaker":"Average Joe Finances","startTime":2470.524,"endTime":2473.984,"body":"appreciated, really awesome."},{"speaker":"Average Joe Finances","startTime":2474.254,"endTime":2475.274,"body":"To have you on the show."},{"speaker":"Average Joe Finances","startTime":2475.424,"endTime":2479.494,"body":"I am so thankful and this has"},{"speaker":"Average Joe Finances","startTime":2475.424,"endTime":2479.494,"body":"been a fantastic conversation."},{"speaker":"Average Joe Finances","startTime":2479.694,"endTime":2483.794,"body":"I hope you have a wonderful"},{"speaker":"Average Joe Finances","startTime":2479.694,"endTime":2483.794,"body":"week and Aloha from Hawaii."},{"speaker":"Adam Carroll","startTime":2483.994,"endTime":2485.734,"body":"Hey,"},{"speaker":"Adam Carroll","startTime":2483.994,"endTime":2485.734,"body":"Aloha, Mahalo my friend."},{"speaker":"Adam Carroll","startTime":2485.739,"endTime":2486.184,"body":"Thank you."}]}