{"version":"1.0.0","segments":[{"speaker":"Average Joe Finances","startTime":0.21,"endTime":3.15,"body":"This is"},{"speaker":"Average Joe Finances","startTime":0.21,"endTime":3.15,"body":"Average Joe Finances podcast,"},{"speaker":"Average Joe Finances","startTime":3.15,"endTime":7.35,"body":"Episode 63. If you're watching"},{"speaker":"Average Joe Finances","startTime":3.15,"endTime":7.35,"body":"this on YouTube, make sure you"},{"speaker":"Average Joe Finances","startTime":7.35,"endTime":10.74,"body":"smash that like button and click"},{"speaker":"Average Joe Finances","startTime":7.35,"endTime":10.74,"body":"subscribe. For those of you"},{"speaker":"Average Joe Finances","startTime":10.74,"endTime":14.37,"body":"listening on a podcast platform,"},{"speaker":"Average Joe Finances","startTime":10.74,"endTime":14.37,"body":"be sure to subscribe on whatever"},{"speaker":"Average Joe Finances","startTime":14.37,"endTime":18.06,"body":"platform that is, and leave us a"},{"speaker":"Average Joe Finances","startTime":14.37,"endTime":18.06,"body":"rating if you can. The more"},{"speaker":"Average Joe Finances","startTime":18.06,"endTime":21.0,"body":"likes ratings and subscriptions"},{"speaker":"Average Joe Finances","startTime":18.06,"endTime":21.0,"body":"that we get, the more we can"},{"speaker":"Average Joe Finances","startTime":21.0,"endTime":24.57,"body":"spread the message and grow our"},{"speaker":"Average Joe Finances","startTime":21.0,"endTime":24.57,"body":"community. So we also have a"},{"speaker":"Average Joe Finances","startTime":24.57,"endTime":28.2,"body":"free Facebook group. It's called"},{"speaker":"Average Joe Finances","startTime":24.57,"endTime":28.2,"body":"the Average Joe Finances"},{"speaker":"Average Joe Finances","startTime":28.2,"endTime":31.86,"body":"network. Check us out, join the"},{"speaker":"Average Joe Finances","startTime":28.2,"endTime":31.86,"body":"group, join the community, ask"},{"speaker":"Average Joe Finances","startTime":31.86,"endTime":35.4,"body":"questions, and become a part of"},{"speaker":"Average Joe Finances","startTime":31.86,"endTime":35.4,"body":"the team. All of our other"},{"speaker":"Average Joe Finances","startTime":35.4,"endTime":38.52,"body":"social media accounts are listed"},{"speaker":"Average Joe Finances","startTime":35.4,"endTime":38.52,"body":"in our flow page. And we have"},{"speaker":"Average Joe Finances","startTime":38.52,"endTime":41.79,"body":"them in the video or podcast"},{"speaker":"Average Joe Finances","startTime":38.52,"endTime":41.79,"body":"description below."},{"speaker":"Michael Lush","startTime":41.85,"endTime":43.65,"body":"So when somebody"},{"speaker":"Michael Lush","startTime":41.85,"endTime":43.65,"body":"is worth hundreds of millions of"},{"speaker":"Michael Lush","startTime":43.65,"endTime":46.2,"body":"dollars, and tells me that I'm"},{"speaker":"Michael Lush","startTime":43.65,"endTime":46.2,"body":"selling financial cracker,"},{"speaker":"Michael Lush","startTime":46.2,"endTime":49.92,"body":"middle America doesn't feel good"},{"speaker":"Michael Lush","startTime":46.2,"endTime":49.92,"body":"at all. So what I did from that"},{"speaker":"Michael Lush","startTime":49.92,"endTime":53.13,"body":"moment on was really trying to"},{"speaker":"Michael Lush","startTime":49.92,"endTime":53.13,"body":"figure out a way to prove him"},{"speaker":"Michael Lush","startTime":53.13,"endTime":56.19,"body":"wrong. Because if I can prove"},{"speaker":"Michael Lush","startTime":53.13,"endTime":56.19,"body":"him wrong, that not only do I"},{"speaker":"Michael Lush","startTime":56.19,"endTime":59.31,"body":"earn his business, but also"},{"speaker":"Michael Lush","startTime":56.19,"endTime":59.31,"body":"prove to myself that what I've"},{"speaker":"Michael Lush","startTime":59.31,"endTime":62.01,"body":"been doing all these years was"},{"speaker":"Michael Lush","startTime":59.31,"endTime":62.01,"body":"the right thing."},{"speaker":"Average Joe Finances","startTime":63.59,"endTime":66.14,"body":"Welcome to"},{"speaker":"Average Joe Finances","startTime":63.59,"endTime":66.14,"body":"the Average Joe Finances"},{"speaker":"Average Joe Finances","startTime":66.14,"endTime":70.67,"body":"podcast, are you trying to get"},{"speaker":"Average Joe Finances","startTime":66.14,"endTime":70.67,"body":"out of debt, invest or just not"},{"speaker":"Average Joe Finances","startTime":70.67,"endTime":73.85,"body":"sure where to start, then this"},{"speaker":"Average Joe Finances","startTime":70.67,"endTime":73.85,"body":"is the place for you. We"},{"speaker":"Average Joe Finances","startTime":73.85,"endTime":77.12,"body":"discussed different ways to get"},{"speaker":"Average Joe Finances","startTime":73.85,"endTime":77.12,"body":"out of the rat race and build"},{"speaker":"Average Joe Finances","startTime":77.12,"endTime":81.44,"body":"your wealth. Join us on this"},{"speaker":"Average Joe Finances","startTime":77.12,"endTime":81.44,"body":"wild ride to financial freedom."},{"speaker":"Average Joe Finances","startTime":82.97,"endTime":85.97,"body":"Hey, how's it going, everybody."},{"speaker":"Average Joe Finances","startTime":82.97,"endTime":85.97,"body":"So today's guest is Michael"},{"speaker":"Average Joe Finances","startTime":85.97,"endTime":89.21,"body":"Lush. And I'm really excited to"},{"speaker":"Average Joe Finances","startTime":85.97,"endTime":89.21,"body":"talk to him. I've actually seen"},{"speaker":"Average Joe Finances","startTime":89.21,"endTime":92.57,"body":"him on the news before with some"},{"speaker":"Average Joe Finances","startTime":89.21,"endTime":92.57,"body":"of the things that he's doing."},{"speaker":"Average Joe Finances","startTime":93.14,"endTime":97.28,"body":"So Michael, for three nights a"},{"speaker":"Average Joe Finances","startTime":93.14,"endTime":97.28,"body":"week was teaching his friends,"},{"speaker":"Average Joe Finances","startTime":97.28,"endTime":101.06,"body":"neighbors past clients in live"},{"speaker":"Average Joe Finances","startTime":97.28,"endTime":101.06,"body":"classes on how to replace their"},{"speaker":"Average Joe Finances","startTime":101.06,"endTime":104.9,"body":"mortgage with a HELOC and start"},{"speaker":"Average Joe Finances","startTime":101.06,"endTime":104.9,"body":"saving 10s of 1000s of dollars"},{"speaker":"Average Joe Finances","startTime":104.9,"endTime":108.26,"body":"in interest. Now, it didn't all"},{"speaker":"Average Joe Finances","startTime":104.9,"endTime":108.26,"body":"just start for him like that"},{"speaker":"Average Joe Finances","startTime":108.26,"endTime":111.38,"body":"there there was there was a lot"},{"speaker":"Average Joe Finances","startTime":108.26,"endTime":111.38,"body":"of work to get there. He used to"},{"speaker":"Average Joe Finances","startTime":111.38,"endTime":115.04,"body":"be a mortgage mortgage loan"},{"speaker":"Average Joe Finances","startTime":111.38,"endTime":115.04,"body":"officer. And he always did what"},{"speaker":"Average Joe Finances","startTime":115.04,"endTime":118.52,"body":"he believed was best for his"},{"speaker":"Average Joe Finances","startTime":115.04,"endTime":118.52,"body":"clients. So he ran into a"},{"speaker":"Average Joe Finances","startTime":118.52,"endTime":121.25,"body":"wealthy mentor that showed him"},{"speaker":"Average Joe Finances","startTime":118.52,"endTime":121.25,"body":"what was wrong with what he had"},{"speaker":"Average Joe Finances","startTime":121.25,"endTime":125.84,"body":"been doing the last 15 years as"},{"speaker":"Average Joe Finances","startTime":121.25,"endTime":125.84,"body":"a mortgage officer. So instead"},{"speaker":"Average Joe Finances","startTime":125.84,"endTime":129.05,"body":"of landing his wealthy clients,"},{"speaker":"Average Joe Finances","startTime":125.84,"endTime":129.05,"body":"their mortgage business, he"},{"speaker":"Average Joe Finances","startTime":129.05,"endTime":132.5,"body":"discovered that the wealthy"},{"speaker":"Average Joe Finances","startTime":129.05,"endTime":132.5,"body":"financier homes using lines of"},{"speaker":"Average Joe Finances","startTime":132.5,"endTime":137.3,"body":"credit. So he had many late"},{"speaker":"Average Joe Finances","startTime":132.5,"endTime":137.3,"body":"nights to research this program"},{"speaker":"Average Joe Finances","startTime":137.3,"endTime":141.38,"body":"and how he's doing it. He's got"},{"speaker":"Average Joe Finances","startTime":137.3,"endTime":141.38,"body":"this this bank secret that he's"},{"speaker":"Average Joe Finances","startTime":141.38,"endTime":145.28,"body":"gonna share with us today that"},{"speaker":"Average Joe Finances","startTime":141.38,"endTime":145.28,"body":"we can learn a little bit. So"},{"speaker":"Average Joe Finances","startTime":145.28,"endTime":147.65,"body":"for those of you that are"},{"speaker":"Average Joe Finances","startTime":145.28,"endTime":147.65,"body":"listening, be prepared for some"},{"speaker":"Average Joe Finances","startTime":147.65,"endTime":151.07,"body":"pretty awesome stuff. Michael,"},{"speaker":"Average Joe Finances","startTime":147.65,"endTime":151.07,"body":"I'm really excited to have you"},{"speaker":"Average Joe Finances","startTime":151.07,"endTime":153.26,"body":"on the show with me today."},{"speaker":"Average Joe Finances","startTime":151.07,"endTime":153.26,"body":"Thanks for joining me."},{"speaker":"Michael Lush","startTime":153.449,"endTime":155.339,"body":"Yeah, thanks for"},{"speaker":"Michael Lush","startTime":153.449,"endTime":155.339,"body":"having me. Pleasure."},{"speaker":"Average Joe Finances","startTime":155.819,"endTime":158.039,"body":"All right,"},{"speaker":"Average Joe Finances","startTime":155.819,"endTime":158.039,"body":"right on. So I just gave a small"},{"speaker":"Average Joe Finances","startTime":158.069,"endTime":162.599,"body":"tidbit like wave top background"},{"speaker":"Average Joe Finances","startTime":158.069,"endTime":162.599,"body":"of who you are and what you do."},{"speaker":"Average Joe Finances","startTime":162.899,"endTime":165.899,"body":"So if you could, can you share a"},{"speaker":"Average Joe Finances","startTime":162.899,"endTime":165.899,"body":"little bit more with us? Tell us"},{"speaker":"Average Joe Finances","startTime":165.899,"endTime":166.649,"body":"your story."},{"speaker":"Michael Lush","startTime":166.92,"endTime":170.04,"body":"Yeah. So this"},{"speaker":"Michael Lush","startTime":166.92,"endTime":170.04,"body":"started. If I go way back,"},{"speaker":"Michael Lush","startTime":170.04,"endTime":173.04,"body":"really right out of college, my"},{"speaker":"Michael Lush","startTime":170.04,"endTime":173.04,"body":"first gig was in the mortgage"},{"speaker":"Michael Lush","startTime":173.04,"endTime":176.43,"body":"industry. And a buddy of mine,"},{"speaker":"Michael Lush","startTime":173.04,"endTime":176.43,"body":"who was a year ahead of me had"},{"speaker":"Michael Lush","startTime":176.43,"endTime":179.25,"body":"already started a year before I"},{"speaker":"Michael Lush","startTime":176.43,"endTime":179.25,"body":"did. And once I graduate, he's"},{"speaker":"Michael Lush","startTime":179.25,"endTime":182.22,"body":"like, you know what, you know,"},{"speaker":"Michael Lush","startTime":179.25,"endTime":182.22,"body":"you've got to check this out. So"},{"speaker":"Michael Lush","startTime":182.22,"endTime":185.19,"body":"what do you do? And he's like, I"},{"speaker":"Michael Lush","startTime":182.22,"endTime":185.19,"body":"work for this company. And I"},{"speaker":"Michael Lush","startTime":185.19,"endTime":187.2,"body":"thought they do investments,"},{"speaker":"Michael Lush","startTime":185.19,"endTime":187.2,"body":"because their name was very"},{"speaker":"Michael Lush","startTime":187.38,"endTime":190.53,"body":"similar to an investment firm,"},{"speaker":"Michael Lush","startTime":187.38,"endTime":190.53,"body":"was like, Yeah, I've always had"},{"speaker":"Michael Lush","startTime":190.53,"endTime":193.83,"body":"an interest in that. That's what"},{"speaker":"Michael Lush","startTime":190.53,"endTime":193.83,"body":"my mom's done for 42 years. And"},{"speaker":"Michael Lush","startTime":193.83,"endTime":197.19,"body":"he's like, no, that what we do,"},{"speaker":"Michael Lush","startTime":193.83,"endTime":197.19,"body":"we we do mortgages, I was like,"},{"speaker":"Michael Lush","startTime":197.22,"endTime":199.83,"body":"Okay, I don't know anything"},{"speaker":"Michael Lush","startTime":197.22,"endTime":199.83,"body":"about that. He's like, come on,"},{"speaker":"Michael Lush","startTime":199.83,"endTime":204.72,"body":"man. He's like, just come in for"},{"speaker":"Michael Lush","startTime":199.83,"endTime":204.72,"body":"an interview. And I kind of"},{"speaker":"Michael Lush","startTime":204.75,"endTime":208.38,"body":"brushed it off for a little bit."},{"speaker":"Michael Lush","startTime":204.75,"endTime":208.38,"body":"And he finally came to my"},{"speaker":"Michael Lush","startTime":208.41,"endTime":211.95,"body":"apartment at the time and said,"},{"speaker":"Michael Lush","startTime":208.41,"endTime":211.95,"body":"Hey, take a look at what some of"},{"speaker":"Michael Lush","startTime":211.95,"endTime":216.81,"body":"the top guys are doing in the"},{"speaker":"Michael Lush","startTime":211.95,"endTime":216.81,"body":"office 20 3040 $50,000 month,"},{"speaker":"Michael Lush","startTime":216.9,"endTime":220.26,"body":"how much? Alright, sign me up. I"},{"speaker":"Michael Lush","startTime":216.9,"endTime":220.26,"body":"don't even know what a mortgage"},{"speaker":"Michael Lush","startTime":220.26,"endTime":224.25,"body":"is. I've never had one. I don't"},{"speaker":"Michael Lush","startTime":220.26,"endTime":224.25,"body":"own a home. But I'll figure this"},{"speaker":"Michael Lush","startTime":224.25,"endTime":227.79,"body":"out. So I go in, have an"},{"speaker":"Michael Lush","startTime":224.25,"endTime":227.79,"body":"interview. And it was funny,"},{"speaker":"Michael Lush","startTime":227.79,"endTime":231.9,"body":"because I'm kind of the guy that"},{"speaker":"Michael Lush","startTime":227.79,"endTime":231.9,"body":"will back myself into a corner"},{"speaker":"Michael Lush","startTime":231.93,"endTime":236.49,"body":"where I will say something so"},{"speaker":"Michael Lush","startTime":231.93,"endTime":236.49,"body":"outlandish that if I don't"},{"speaker":"Michael Lush","startTime":236.49,"endTime":240.54,"body":"achieve it, the embarrassment,"},{"speaker":"Michael Lush","startTime":236.49,"endTime":240.54,"body":"the fear of embarrassment, is"},{"speaker":"Michael Lush","startTime":240.54,"endTime":245.28,"body":"more of a motivating factor than"},{"speaker":"Michael Lush","startTime":240.54,"endTime":245.28,"body":"the excitement of success. So I"},{"speaker":"Michael Lush","startTime":245.28,"endTime":247.26,"body":"told the guy, the senior vice"},{"speaker":"Michael Lush","startTime":245.28,"endTime":247.26,"body":"president who was interviewing"},{"speaker":"Michael Lush","startTime":247.26,"endTime":251.46,"body":"me, I said, if you hire me, I"},{"speaker":"Michael Lush","startTime":247.26,"endTime":251.46,"body":"will be the best hire this year"},{"speaker":"Michael Lush","startTime":251.55,"endTime":255.72,"body":"in the entire company. And that"},{"speaker":"Michael Lush","startTime":251.55,"endTime":255.72,"body":"was in January. So I got started"},{"speaker":"Michael Lush","startTime":255.72,"endTime":259.53,"body":"in January. And it was in"},{"speaker":"Michael Lush","startTime":255.72,"endTime":259.53,"body":"October, we were a large"},{"speaker":"Michael Lush","startTime":259.53,"endTime":262.59,"body":"mortgage firm, publicly traded"},{"speaker":"Michael Lush","startTime":259.53,"endTime":262.59,"body":"ninth largest in the world, or"},{"speaker":"Michael Lush","startTime":262.59,"endTime":266.31,"body":"in the country at the time. And"},{"speaker":"Michael Lush","startTime":262.59,"endTime":266.31,"body":"so all of our trainings, he"},{"speaker":"Michael Lush","startTime":266.31,"endTime":269.52,"body":"would corral everyone in this"},{"speaker":"Michael Lush","startTime":266.31,"endTime":269.52,"body":"huge auditorium for training."},{"speaker":"Michael Lush","startTime":270.27,"endTime":272.67,"body":"And he would randomly call on"},{"speaker":"Michael Lush","startTime":270.27,"endTime":272.67,"body":"people into an objection at"},{"speaker":"Michael Lush","startTime":272.67,"endTime":275.28,"body":"them, and see how well they"},{"speaker":"Michael Lush","startTime":272.67,"endTime":275.28,"body":"overcome it and kind of use that"},{"speaker":"Michael Lush","startTime":275.28,"endTime":278.73,"body":"as a training tool. So he called"},{"speaker":"Michael Lush","startTime":275.28,"endTime":278.73,"body":"on me to have an objection I"},{"speaker":"Michael Lush","startTime":278.73,"endTime":281.73,"body":"went through how we typically"},{"speaker":"Michael Lush","startTime":278.73,"endTime":281.73,"body":"overcome the objection when he"},{"speaker":"Michael Lush","startTime":281.73,"endTime":284.52,"body":"stopped right there. And he"},{"speaker":"Michael Lush","startTime":281.73,"endTime":284.52,"body":"said, If I see flaws in that,"},{"speaker":"Michael Lush","startTime":284.7,"endTime":288.06,"body":"maybe some people don't remember"},{"speaker":"Michael Lush","startTime":284.7,"endTime":288.06,"body":"perfectly what happened. But he"},{"speaker":"Michael Lush","startTime":288.06,"endTime":293.25,"body":"said, That's exactly why Michael"},{"speaker":"Michael Lush","startTime":288.06,"endTime":293.25,"body":"is now coming newcomers here for"},{"speaker":"Michael Lush","startTime":293.25,"endTime":296.07,"body":"the entire company. I was like,"},{"speaker":"Michael Lush","startTime":293.25,"endTime":296.07,"body":"Wow, I didn't even know. And"},{"speaker":"Michael Lush","startTime":296.07,"endTime":301.02,"body":"when he told me it was in"},{"speaker":"Michael Lush","startTime":296.07,"endTime":301.02,"body":"September. It wasn't December."},{"speaker":"Michael Lush","startTime":301.62,"endTime":304.68,"body":"So my numbers were so far ahead"},{"speaker":"Michael Lush","startTime":301.62,"endTime":304.68,"body":"of everyone else that there was"},{"speaker":"Michael Lush","startTime":304.68,"endTime":306.72,"body":"no way that they were going to"},{"speaker":"Michael Lush","startTime":304.68,"endTime":306.72,"body":"catch up by the end of the year."},{"speaker":"Michael Lush","startTime":307.05,"endTime":309.9,"body":"So they'd already given me the"},{"speaker":"Michael Lush","startTime":307.05,"endTime":309.9,"body":"titles Newcomer of the Year. And"},{"speaker":"Michael Lush","startTime":309.9,"endTime":313.53,"body":"I was as shocked as anyone else"},{"speaker":"Michael Lush","startTime":309.9,"endTime":313.53,"body":"it will, again, and trust me"},{"speaker":"Michael Lush","startTime":313.53,"endTime":316.02,"body":"from January to September, there"},{"speaker":"Michael Lush","startTime":313.53,"endTime":316.02,"body":"was some ups and downs and"},{"speaker":"Michael Lush","startTime":316.02,"endTime":320.37,"body":"rollercoasters, but I definitely"},{"speaker":"Michael Lush","startTime":316.02,"endTime":320.37,"body":"had some big, big month. And so"},{"speaker":"Michael Lush","startTime":320.37,"endTime":324.15,"body":"I became november of the year,"},{"speaker":"Michael Lush","startTime":320.37,"endTime":324.15,"body":"and did well with that company"},{"speaker":"Michael Lush","startTime":324.15,"endTime":326.97,"body":"rose through the ranks, System"},{"speaker":"Michael Lush","startTime":324.15,"endTime":326.97,"body":"Manager managers and senior"},{"speaker":"Michael Lush","startTime":326.97,"endTime":332.85,"body":"manager and running some"},{"speaker":"Michael Lush","startTime":326.97,"endTime":332.85,"body":"branches. And then 2000 APS. And"},{"speaker":"Michael Lush","startTime":332.85,"endTime":336.39,"body":"my wife was also working for the"},{"speaker":"Michael Lush","startTime":332.85,"endTime":336.39,"body":"company. So not only was I one"},{"speaker":"Michael Lush","startTime":336.39,"endTime":338.55,"body":"of the top senior managers, I"},{"speaker":"Michael Lush","startTime":336.39,"endTime":338.55,"body":"was number three in the company"},{"speaker":"Michael Lush","startTime":338.55,"endTime":343.5,"body":"out of 1500. She was number five"},{"speaker":"Michael Lush","startTime":338.55,"endTime":343.5,"body":"loan officer in the company out"},{"speaker":"Michael Lush","startTime":343.5,"endTime":348.21,"body":"of 1000s. So collectively, we"},{"speaker":"Michael Lush","startTime":343.5,"endTime":348.21,"body":"had really good income for folks"},{"speaker":"Michael Lush","startTime":348.21,"endTime":351.27,"body":"that were in our early 20s. And"},{"speaker":"Michael Lush","startTime":348.21,"endTime":351.27,"body":"what do you think we were doing"},{"speaker":"Michael Lush","startTime":351.27,"endTime":355.95,"body":"with that money? We weren't"},{"speaker":"Michael Lush","startTime":351.27,"endTime":355.95,"body":"investing not not smart. No,"},{"speaker":"Michael Lush","startTime":356.01,"endTime":359.22,"body":"absolutely not. I was the last"},{"speaker":"Michael Lush","startTime":356.01,"endTime":359.22,"body":"person you should give big"},{"speaker":"Michael Lush","startTime":359.22,"endTime":363.81,"body":"checks to. So not quite paycheck"},{"speaker":"Michael Lush","startTime":359.22,"endTime":363.81,"body":"to paycheck, but pretty doggone"},{"speaker":"Michael Lush","startTime":363.81,"endTime":367.32,"body":"close. Know that collectively,"},{"speaker":"Michael Lush","startTime":363.81,"endTime":367.32,"body":"we're making well over a half a"},{"speaker":"Michael Lush","startTime":367.32,"endTime":371.19,"body":"million dollars a year. And I'm"},{"speaker":"Michael Lush","startTime":367.32,"endTime":371.19,"body":"buying cars, Escalades denalis"},{"speaker":"Michael Lush","startTime":371.19,"endTime":374.16,"body":"four wheelers, because I'm a"},{"speaker":"Michael Lush","startTime":371.19,"endTime":374.16,"body":"redneck, motorcycles because I'm"},{"speaker":"Michael Lush","startTime":374.16,"endTime":378.27,"body":"a redneck, you know, big house"},{"speaker":"Michael Lush","startTime":374.16,"endTime":378.27,"body":"and things of a nice vacation is"},{"speaker":"Michael Lush","startTime":378.27,"endTime":381.87,"body":"going to why those fasteners it"},{"speaker":"Michael Lush","startTime":378.27,"endTime":381.87,"body":"was coming in, we were spending"},{"speaker":"Michael Lush","startTime":382.74,"endTime":385.38,"body":"in 2008 years, it was why they"},{"speaker":"Michael Lush","startTime":382.74,"endTime":385.38,"body":"pulled the brake on real estate,"},{"speaker":"Michael Lush","startTime":385.38,"endTime":389.67,"body":"right? So that locomotive that"},{"speaker":"Michael Lush","startTime":385.38,"endTime":389.67,"body":"we were driving, just suddenly"},{"speaker":"Michael Lush","startTime":389.67,"endTime":393.69,"body":"stopped and hit us in the rear"},{"speaker":"Michael Lush","startTime":389.67,"endTime":393.69,"body":"end, add lots of debt. Long"},{"speaker":"Michael Lush","startTime":393.69,"endTime":397.56,"body":"story short, went broke. But"},{"speaker":"Michael Lush","startTime":393.69,"endTime":397.56,"body":"that same company called me"},{"speaker":"Michael Lush","startTime":397.56,"endTime":400.29,"body":"probably nine months later, and"},{"speaker":"Michael Lush","startTime":397.56,"endTime":400.29,"body":"I took that as an opportunity to"},{"speaker":"Michael Lush","startTime":400.29,"endTime":403.47,"body":"move back to Nashville, my"},{"speaker":"Michael Lush","startTime":400.29,"endTime":403.47,"body":"hometown. And that same company"},{"speaker":"Michael Lush","startTime":403.47,"endTime":406.8,"body":"called and said, Look, we're"},{"speaker":"Michael Lush","startTime":403.47,"endTime":406.8,"body":"resurrecting again, we're not"},{"speaker":"Michael Lush","startTime":406.8,"endTime":409.86,"body":"going to do subprime stuff like"},{"speaker":"Michael Lush","startTime":406.8,"endTime":409.86,"body":"we used to do. We're getting"},{"speaker":"Michael Lush","startTime":409.86,"endTime":413.37,"body":"solely into government loans,"},{"speaker":"Michael Lush","startTime":409.86,"endTime":413.37,"body":"which really the only thing at"},{"speaker":"Michael Lush","startTime":413.37,"endTime":416.73,"body":"the time that was available FHA,"},{"speaker":"Michael Lush","startTime":413.37,"endTime":416.73,"body":"VA, USDA, Fannie and Freddie,"},{"speaker":"Michael Lush","startTime":416.94,"endTime":419.16,"body":"and we want you to head up"},{"speaker":"Michael Lush","startTime":416.94,"endTime":419.16,"body":"Nashville operations, we want to"},{"speaker":"Michael Lush","startTime":419.16,"endTime":422.52,"body":"make you director of operations."},{"speaker":"Michael Lush","startTime":419.16,"endTime":422.52,"body":"I've got nothing else to do."},{"speaker":"Michael Lush","startTime":422.52,"endTime":426.57,"body":"Absolutely. Yeah, give me back"},{"speaker":"Michael Lush","startTime":422.52,"endTime":426.57,"body":"in my former glory. Yes, I did"},{"speaker":"Michael Lush","startTime":426.57,"endTime":430.53,"body":"one more thing. Yeah. And where"},{"speaker":"Michael Lush","startTime":426.57,"endTime":430.53,"body":"they got their money was"},{"speaker":"Michael Lush","startTime":430.53,"endTime":434.49,"body":"actually from a hedge fund. And"},{"speaker":"Michael Lush","startTime":430.53,"endTime":434.49,"body":"so the hedge fund manager, his"},{"speaker":"Michael Lush","startTime":434.49,"endTime":437.25,"body":"mom and dad actually lived in"},{"speaker":"Michael Lush","startTime":434.49,"endTime":437.25,"body":"Nashville, he was out of"},{"speaker":"Michael Lush","startTime":437.25,"endTime":440.61,"body":"Connecticut at the time, or"},{"speaker":"Michael Lush","startTime":437.25,"endTime":440.61,"body":"upper hundreds of millions of"},{"speaker":"Michael Lush","startTime":440.61,"endTime":445.26,"body":"dollars now doing there. And so"},{"speaker":"Michael Lush","startTime":440.61,"endTime":445.26,"body":"he would fly into town to meet"},{"speaker":"Michael Lush","startTime":445.26,"endTime":447.96,"body":"with his mom and dad, but when,"},{"speaker":"Michael Lush","startTime":445.26,"endTime":447.96,"body":"you know, passing through, he"},{"speaker":"Michael Lush","startTime":447.96,"endTime":450.42,"body":"was stopped at my office and"},{"speaker":"Michael Lush","startTime":447.96,"endTime":450.42,"body":"mentor me. And it was after a"},{"speaker":"Michael Lush","startTime":450.42,"endTime":453.0,"body":"couple of visits, I took the"},{"speaker":"Michael Lush","startTime":450.42,"endTime":453.0,"body":"opportunity, so you know what I"},{"speaker":"Michael Lush","startTime":453.0,"endTime":456.99,"body":"need to get in this sphere of"},{"speaker":"Michael Lush","startTime":453.0,"endTime":456.99,"body":"influence. He's where I want to"},{"speaker":"Michael Lush","startTime":456.99,"endTime":459.72,"body":"be, at least financially, you"},{"speaker":"Michael Lush","startTime":456.99,"endTime":459.72,"body":"know, I didn't know all the"},{"speaker":"Michael Lush","startTime":459.72,"endTime":461.79,"body":"other things that were important"},{"speaker":"Michael Lush","startTime":459.72,"endTime":461.79,"body":"in life at the time, you know,"},{"speaker":"Michael Lush","startTime":461.79,"endTime":464.52,"body":"family faith, and all that. So I"},{"speaker":"Michael Lush","startTime":461.79,"endTime":464.52,"body":"said, Now I gotta get my"},{"speaker":"Michael Lush","startTime":464.52,"endTime":467.13,"body":"finances in order, and this"},{"speaker":"Michael Lush","startTime":464.52,"endTime":467.13,"body":"guy's got plenty of money. So"},{"speaker":"Michael Lush","startTime":467.13,"endTime":470.25,"body":"let me figure out what he's"},{"speaker":"Michael Lush","startTime":467.13,"endTime":470.25,"body":"doing. So I took the opportunity"},{"speaker":"Michael Lush","startTime":470.25,"endTime":472.89,"body":"said, Look, let's do this."},{"speaker":"Michael Lush","startTime":470.25,"endTime":472.89,"body":"You're a hedge fund manager, you"},{"speaker":"Michael Lush","startTime":472.92,"endTime":475.5,"body":"by default, technically own this"},{"speaker":"Michael Lush","startTime":472.92,"endTime":475.5,"body":"company, because we got to pay"},{"speaker":"Michael Lush","startTime":475.5,"endTime":478.05,"body":"all this money back millions of"},{"speaker":"Michael Lush","startTime":475.5,"endTime":478.05,"body":"dollars, we got to pay back to"},{"speaker":"Michael Lush","startTime":478.05,"endTime":481.29,"body":"this hedge fund plus rate of"},{"speaker":"Michael Lush","startTime":478.05,"endTime":481.29,"body":"return. So why don't you"},{"speaker":"Michael Lush","startTime":481.29,"endTime":484.56,"body":"introduce me to your sphere of"},{"speaker":"Michael Lush","startTime":481.29,"endTime":484.56,"body":"influence? What I do I do really"},{"speaker":"Michael Lush","startTime":484.56,"endTime":487.53,"body":"well. So how about I do"},{"speaker":"Michael Lush","startTime":484.56,"endTime":487.53,"body":"mortgages for them. And if their"},{"speaker":"Michael Lush","startTime":487.53,"endTime":489.69,"body":"mortgage I'm sure they're big,"},{"speaker":"Michael Lush","startTime":487.53,"endTime":489.69,"body":"and big mortgages are big"},{"speaker":"Michael Lush","startTime":489.69,"endTime":492.27,"body":"paychecks, big paychecks, big"},{"speaker":"Michael Lush","startTime":489.69,"endTime":492.27,"body":"commissions, big profits, you"},{"speaker":"Michael Lush","startTime":492.27,"endTime":495.81,"body":"get your money back faster. This"},{"speaker":"Michael Lush","startTime":492.27,"endTime":495.81,"body":"is a fail proof plan, right? And"},{"speaker":"Michael Lush","startTime":495.81,"endTime":497.85,"body":"that's when he kind of hit me"},{"speaker":"Michael Lush","startTime":495.81,"endTime":497.85,"body":"with it. And he only spent 10"},{"speaker":"Michael Lush","startTime":497.85,"endTime":500.49,"body":"minutes explaining it to me, but"},{"speaker":"Michael Lush","startTime":497.85,"endTime":500.49,"body":"he said, Look, we don't do"},{"speaker":"Michael Lush","startTime":500.49,"endTime":504.12,"body":"mortgages. And I was like, okay,"},{"speaker":"Michael Lush","startTime":500.49,"endTime":504.12,"body":"that's what I thought you guys"},{"speaker":"Michael Lush","startTime":504.12,"endTime":506.91,"body":"pay cash for everything. So no,"},{"speaker":"Michael Lush","startTime":504.12,"endTime":506.91,"body":"we always use other people's"},{"speaker":"Michael Lush","startTime":506.91,"endTime":510.51,"body":"money, instead, but what we"},{"speaker":"Michael Lush","startTime":506.91,"endTime":510.51,"body":"typically will use is a home"},{"speaker":"Michael Lush","startTime":510.51,"endTime":513.81,"body":"equity line of credit."},{"speaker":"Michael Lush","startTime":510.51,"endTime":513.81,"body":"Everything I had been taught in"},{"speaker":"Michael Lush","startTime":513.81,"endTime":516.57,"body":"the mortgage industry was a home"},{"speaker":"Michael Lush","startTime":513.81,"endTime":516.57,"body":"equity line of credit is a"},{"speaker":"Michael Lush","startTime":516.57,"endTime":519.12,"body":"credit card on your home, that's"},{"speaker":"Michael Lush","startTime":516.57,"endTime":519.12,"body":"not something you want. So when"},{"speaker":"Michael Lush","startTime":519.12,"endTime":521.52,"body":"we're on the phone with"},{"speaker":"Michael Lush","startTime":519.12,"endTime":521.52,"body":"customers, and we're doing a"},{"speaker":"Michael Lush","startTime":521.52,"endTime":524.16,"body":"cash out refinance, or just some"},{"speaker":"Michael Lush","startTime":521.52,"endTime":524.16,"body":"other type of refunds, okay,"},{"speaker":"Michael Lush","startTime":524.16,"endTime":526.38,"body":"we're going to roll in that home"},{"speaker":"Michael Lush","startTime":524.16,"endTime":526.38,"body":"equity line of credit and"},{"speaker":"Michael Lush","startTime":526.38,"endTime":529.5,"body":"rolling the credit card, those"},{"speaker":"Michael Lush","startTime":526.38,"endTime":529.5,"body":"are bad for you. And he's like,"},{"speaker":"Michael Lush","startTime":529.5,"endTime":532.5,"body":"No, No, they're not. He's like,"},{"speaker":"Michael Lush","startTime":529.5,"endTime":532.5,"body":"it just depends on what the"},{"speaker":"Michael Lush","startTime":532.5,"endTime":535.11,"body":"audience is. He said in my"},{"speaker":"Michael Lush","startTime":532.5,"endTime":535.11,"body":"audience, there's we're not"},{"speaker":"Michael Lush","startTime":535.11,"endTime":538.32,"body":"going to do mortgages in"},{"speaker":"Michael Lush","startTime":535.11,"endTime":538.32,"body":"mortgages. I don't know if he"},{"speaker":"Michael Lush","startTime":538.32,"endTime":543.21,"body":"knew this. mortgage is an old"},{"speaker":"Michael Lush","startTime":538.32,"endTime":543.21,"body":"French term. And it's basically"},{"speaker":"Michael Lush","startTime":543.21,"endTime":546.78,"body":"the definition of mortgage is"},{"speaker":"Michael Lush","startTime":543.21,"endTime":546.78,"body":"death pledge. That's what it is"},{"speaker":"Michael Lush","startTime":546.78,"endTime":549.96,"body":"an old French, it's a death"},{"speaker":"Michael Lush","startTime":546.78,"endTime":549.96,"body":"contract. So more being"},{"speaker":"Michael Lush","startTime":549.96,"endTime":552.36,"body":"mortality, gauged being a"},{"speaker":"Michael Lush","startTime":549.96,"endTime":552.36,"body":"certificate or contracts with"},{"speaker":"Michael Lush","startTime":552.36,"endTime":554.94,"body":"the Death Watch. He said,"},{"speaker":"Michael Lush","startTime":552.36,"endTime":554.94,"body":"Michael, to be honest with you,"},{"speaker":"Michael Lush","startTime":555.57,"endTime":558.24,"body":"what you're doing is you're"},{"speaker":"Michael Lush","startTime":555.57,"endTime":558.24,"body":"selling financial crap to middle"},{"speaker":"Michael Lush","startTime":558.24,"endTime":562.26,"body":"America. And that hurt, that"},{"speaker":"Michael Lush","startTime":558.24,"endTime":562.26,"body":"hurt bad, because I've always"},{"speaker":"Michael Lush","startTime":562.26,"endTime":564.99,"body":"had been a moral gap. And I've"},{"speaker":"Michael Lush","startTime":562.26,"endTime":564.99,"body":"always thought that I was doing"},{"speaker":"Michael Lush","startTime":564.99,"endTime":567.54,"body":"the best by my clients. So when"},{"speaker":"Michael Lush","startTime":564.99,"endTime":567.54,"body":"somebody is worth hundreds of"},{"speaker":"Michael Lush","startTime":567.54,"endTime":570.21,"body":"millions of dollars, and tells"},{"speaker":"Michael Lush","startTime":567.54,"endTime":570.21,"body":"me that I'm selling financial"},{"speaker":"Michael Lush","startTime":570.21,"endTime":573.87,"body":"crap, and Middle America doesn't"},{"speaker":"Michael Lush","startTime":570.21,"endTime":573.87,"body":"feel good at all. So what I did"},{"speaker":"Michael Lush","startTime":573.87,"endTime":577.02,"body":"from that moment on was really"},{"speaker":"Michael Lush","startTime":573.87,"endTime":577.02,"body":"trying to figure out a way to"},{"speaker":"Michael Lush","startTime":577.02,"endTime":579.96,"body":"prove him wrong, because if I"},{"speaker":"Michael Lush","startTime":577.02,"endTime":579.96,"body":"could prove him wrong, then not"},{"speaker":"Michael Lush","startTime":579.96,"endTime":583.5,"body":"only do I earn his business, but"},{"speaker":"Michael Lush","startTime":579.96,"endTime":583.5,"body":"also prove to myself that what"},{"speaker":"Michael Lush","startTime":583.5,"endTime":587.28,"body":"I've been doing all these years"},{"speaker":"Michael Lush","startTime":583.5,"endTime":587.28,"body":"was the right thing. And it took"},{"speaker":"Michael Lush","startTime":587.28,"endTime":591.12,"body":"about a year I hired a CPA and"},{"speaker":"Michael Lush","startTime":587.28,"endTime":591.12,"body":"actuary and a couple buddies of"},{"speaker":"Michael Lush","startTime":591.12,"endTime":593.94,"body":"mine that actually one of them"},{"speaker":"Michael Lush","startTime":591.12,"endTime":593.94,"body":"works with me today is my right"},{"speaker":"Michael Lush","startTime":593.94,"endTime":597.39,"body":"hand, man. He's a genius, and we"},{"speaker":"Michael Lush","startTime":593.94,"endTime":597.39,"body":"try to poke holes in it, and we"},{"speaker":"Michael Lush","startTime":597.39,"endTime":599.79,"body":"couldn't and more than we tried"},{"speaker":"Michael Lush","startTime":597.39,"endTime":599.79,"body":"to prove him wrong. We actually"},{"speaker":"Michael Lush","startTime":599.79,"endTime":603.96,"body":"proved Tim Ryan. And so in 2012"},{"speaker":"Michael Lush","startTime":599.79,"endTime":603.96,"body":"is when I took the leap of faith"},{"speaker":"Michael Lush","startTime":603.99,"endTime":607.05,"body":"until my wife were no longer"},{"speaker":"Michael Lush","startTime":603.99,"endTime":607.05,"body":"going to consume mortgages. She"},{"speaker":"Michael Lush","startTime":607.05,"endTime":608.97,"body":"said, Okay, well, how are we"},{"speaker":"Michael Lush","startTime":607.05,"endTime":608.97,"body":"going to get it paid off? I"},{"speaker":"Michael Lush","startTime":608.97,"endTime":611.55,"body":"said, we're gonna refinance the"},{"speaker":"Michael Lush","startTime":608.97,"endTime":611.55,"body":"whole thing into a home equity"},{"speaker":"Michael Lush","startTime":611.55,"endTime":613.68,"body":"line of credit first lien"},{"speaker":"Michael Lush","startTime":611.55,"endTime":613.68,"body":"position, home equity line of"},{"speaker":"Michael Lush","startTime":613.68,"endTime":615.87,"body":"credit. Now, secondly, big"},{"speaker":"Michael Lush","startTime":613.68,"endTime":615.87,"body":"difference. We'll get into that"},{"speaker":"Michael Lush","startTime":615.87,"endTime":621.06,"body":"here in a little bit. But long"},{"speaker":"Michael Lush","startTime":615.87,"endTime":621.06,"body":"story short, from 2012 to 2016,"},{"speaker":"Michael Lush","startTime":621.06,"endTime":623.64,"body":"early 2016, we paid our house"},{"speaker":"Michael Lush","startTime":621.06,"endTime":623.64,"body":"off, we didn't change anything"},{"speaker":"Michael Lush","startTime":623.64,"endTime":625.59,"body":"about our budget. Now,"},{"speaker":"Michael Lush","startTime":623.64,"endTime":625.59,"body":"obviously, I was in the mortgage"},{"speaker":"Michael Lush","startTime":625.59,"endTime":629.88,"body":"industry. So was I making the"},{"speaker":"Michael Lush","startTime":625.59,"endTime":629.88,"body":"money that I was making back in"},{"speaker":"Michael Lush","startTime":629.88,"endTime":632.94,"body":"the glory days? No, not by a"},{"speaker":"Michael Lush","startTime":629.88,"endTime":632.94,"body":"longshot. I was making good"},{"speaker":"Michael Lush","startTime":632.94,"endTime":635.55,"body":"money, I was providing a living,"},{"speaker":"Michael Lush","startTime":632.94,"endTime":635.55,"body":"I had two kids at the time and a"},{"speaker":"Michael Lush","startTime":635.55,"endTime":639.36,"body":"wife. So I wasn't going to go"},{"speaker":"Michael Lush","startTime":635.55,"endTime":639.36,"body":"back to the type of situation"},{"speaker":"Michael Lush","startTime":639.87,"endTime":643.32,"body":"that we were in. Prior to 2008"},{"speaker":"Michael Lush","startTime":639.87,"endTime":643.32,"body":"we were living paycheck to"},{"speaker":"Michael Lush","startTime":643.32,"endTime":645.84,"body":"paycheck. So you know, we were"},{"speaker":"Michael Lush","startTime":643.32,"endTime":645.84,"body":"making a good living, but we it"},{"speaker":"Michael Lush","startTime":645.84,"endTime":649.2,"body":"was, we weren't killing it so"},{"speaker":"Michael Lush","startTime":645.84,"endTime":649.2,"body":"on, you know what I would now"},{"speaker":"Michael Lush","startTime":649.2,"endTime":651.72,"body":"consider a modest income, we"},{"speaker":"Michael Lush","startTime":649.2,"endTime":651.72,"body":"were able to pay your home off"},{"speaker":"Michael Lush","startTime":651.72,"endTime":655.5,"body":"in three and a half years. And"},{"speaker":"Michael Lush","startTime":651.72,"endTime":655.5,"body":"from that moment on, I linked up"},{"speaker":"Michael Lush","startTime":655.5,"endTime":659.58,"body":"with a buddy of mine, Jimmy, who"},{"speaker":"Michael Lush","startTime":655.5,"endTime":659.58,"body":"was a marketing mentor who said,"},{"speaker":"Michael Lush","startTime":659.97,"endTime":662.82,"body":"Listen, you've got to turn this"},{"speaker":"Michael Lush","startTime":659.97,"endTime":662.82,"body":"into a business, there's a lot"},{"speaker":"Michael Lush","startTime":662.82,"endTime":666.18,"body":"of people out there that want to"},{"speaker":"Michael Lush","startTime":662.82,"endTime":666.18,"body":"know what you know, and they"},{"speaker":"Michael Lush","startTime":666.18,"endTime":671.07,"body":"will pay for it. So that's when"},{"speaker":"Michael Lush","startTime":666.18,"endTime":671.07,"body":"I created a business which now"},{"speaker":"Michael Lush","startTime":671.07,"endTime":673.74,"body":"called lush enterprises and a"},{"speaker":"Michael Lush","startTime":671.07,"endTime":673.74,"body":"form of it is replace your"},{"speaker":"Michael Lush","startTime":673.74,"endTime":676.02,"body":"mortgage and we've got other"},{"speaker":"Michael Lush","startTime":673.74,"endTime":676.02,"body":"entities that are passed to it"},{"speaker":"Michael Lush","startTime":676.02,"endTime":679.77,"body":"now that replace your mortgage"},{"speaker":"Michael Lush","startTime":676.02,"endTime":679.77,"body":"is what is most well known. And"},{"speaker":"Michael Lush","startTime":679.77,"endTime":685.23,"body":"now I've been teaching 1000s. So"},{"speaker":"Michael Lush","startTime":679.77,"endTime":685.23,"body":"we have about 6000 clients now"},{"speaker":"Michael Lush","startTime":685.23,"endTime":688.53,"body":"we've probably helped 10,000"},{"speaker":"Michael Lush","startTime":685.23,"endTime":688.53,"body":"people pay their home off and"},{"speaker":"Michael Lush","startTime":688.53,"endTime":693.57,"body":"accelerated fashion. Or some"},{"speaker":"Michael Lush","startTime":688.53,"endTime":693.57,"body":"folks find out that they can pay"},{"speaker":"Michael Lush","startTime":693.57,"endTime":696.42,"body":"their home off in accelerated"},{"speaker":"Michael Lush","startTime":693.57,"endTime":696.42,"body":"fashion and choose to actually"},{"speaker":"Michael Lush","startTime":696.6,"endTime":699.51,"body":"leverage it to grow wealth. Kind"},{"speaker":"Michael Lush","startTime":696.6,"endTime":699.51,"body":"of like you got the two"},{"speaker":"Michael Lush","startTime":699.51,"endTime":702.03,"body":"philosophies, right. Robert"},{"speaker":"Michael Lush","startTime":699.51,"endTime":702.03,"body":"Kiyosaki, Rich Dad, Poor Dad or"},{"speaker":"Michael Lush","startTime":702.03,"endTime":705.78,"body":"Dave Ramsey. We lean more"},{"speaker":"Michael Lush","startTime":702.03,"endTime":705.78,"body":"towards Robert Kiyosaki. Now, I"},{"speaker":"Michael Lush","startTime":705.78,"endTime":711.51,"body":"say that because the first thing"},{"speaker":"Michael Lush","startTime":705.78,"endTime":711.51,"body":"you have to be is you have to"},{"speaker":"Michael Lush","startTime":711.51,"endTime":713.88,"body":"understand your budget, you have"},{"speaker":"Michael Lush","startTime":711.51,"endTime":713.88,"body":"to be on a budget, you have to"},{"speaker":"Michael Lush","startTime":713.88,"endTime":717.63,"body":"be cashflow positive. So this"},{"speaker":"Michael Lush","startTime":713.88,"endTime":717.63,"body":"isn't for everybody. And I don't"},{"speaker":"Michael Lush","startTime":717.63,"endTime":720.51,"body":"want to exclude it to just those"},{"speaker":"Michael Lush","startTime":717.63,"endTime":720.51,"body":"who make good income, because"},{"speaker":"Michael Lush","startTime":720.51,"endTime":724.08,"body":"that's not really who it's for."},{"speaker":"Michael Lush","startTime":720.51,"endTime":724.08,"body":"It's not just for those that"},{"speaker":"Michael Lush","startTime":724.08,"endTime":727.29,"body":"have a really good income or"},{"speaker":"Michael Lush","startTime":724.08,"endTime":727.29,"body":"educated or highly disciplined"},{"speaker":"Michael Lush","startTime":727.29,"endTime":731.01,"body":"or mastered their budget. It's"},{"speaker":"Michael Lush","startTime":727.29,"endTime":731.01,"body":"also for those that are in the"},{"speaker":"Michael Lush","startTime":731.01,"endTime":735.45,"body":"middle class, and sometimes even"},{"speaker":"Michael Lush","startTime":731.01,"endTime":735.45,"body":"a lower middle class, as long as"},{"speaker":"Michael Lush","startTime":735.45,"endTime":737.97,"body":"they're cashflow positive, and"},{"speaker":"Michael Lush","startTime":735.45,"endTime":737.97,"body":"they've mastered their budget."},{"speaker":"Michael Lush","startTime":738.06,"endTime":742.77,"body":"So that the rest is, you know,"},{"speaker":"Michael Lush","startTime":738.06,"endTime":742.77,"body":"within 60 days of me abandoning"},{"speaker":"Michael Lush","startTime":742.77,"endTime":746.61,"body":"the mortgage industry, you know,"},{"speaker":"Michael Lush","startTime":742.77,"endTime":746.61,"body":"God really had my back, and the"},{"speaker":"Michael Lush","startTime":746.61,"endTime":751.17,"body":"income from this opportunity"},{"speaker":"Michael Lush","startTime":746.61,"endTime":751.17,"body":"skyrocketed. And it was more"},{"speaker":"Michael Lush","startTime":751.17,"endTime":753.75,"body":"than I was making in my heyday."},{"speaker":"Michael Lush","startTime":751.17,"endTime":753.75,"body":"So it's like, okay, God, thank"},{"speaker":"Michael Lush","startTime":753.75,"endTime":756.3,"body":"you now don't have to worry"},{"speaker":"Michael Lush","startTime":753.75,"endTime":756.3,"body":"about finances, all I need to"},{"speaker":"Michael Lush","startTime":756.3,"endTime":760.11,"body":"focus on is one glorifying you,"},{"speaker":"Michael Lush","startTime":756.3,"endTime":760.11,"body":"but also loving all these people"},{"speaker":"Michael Lush","startTime":760.11,"endTime":763.32,"body":"and showing them how to best"},{"speaker":"Michael Lush","startTime":760.11,"endTime":763.32,"body":"utilize a home equity line of"},{"speaker":"Michael Lush","startTime":763.32,"endTime":766.44,"body":"credit more efficiently utilize"},{"speaker":"Michael Lush","startTime":763.32,"endTime":766.44,"body":"debt. And you know, in a little"},{"speaker":"Michael Lush","startTime":766.44,"endTime":769.17,"body":"bit, I want to get back into"},{"speaker":"Michael Lush","startTime":766.44,"endTime":769.17,"body":"history of where mortgage came"},{"speaker":"Michael Lush","startTime":769.17,"endTime":773.46,"body":"to be and how he law came to be."},{"speaker":"Michael Lush","startTime":769.17,"endTime":773.46,"body":"Because in America, financing"},{"speaker":"Michael Lush","startTime":773.46,"endTime":777.45,"body":"real estate and mortgages is"},{"speaker":"Michael Lush","startTime":773.46,"endTime":777.45,"body":"extremely archaic, compared to a"},{"speaker":"Michael Lush","startTime":777.45,"endTime":781.02,"body":"lot of other countries. You"},{"speaker":"Michael Lush","startTime":777.45,"endTime":781.02,"body":"know, Australia, over 80% of"},{"speaker":"Michael Lush","startTime":781.02,"endTime":784.44,"body":"Australian citizens use what"},{"speaker":"Michael Lush","startTime":781.02,"endTime":784.44,"body":"they call a money merge account."},{"speaker":"Michael Lush","startTime":784.83,"endTime":787.38,"body":"And a money merge account is"},{"speaker":"Michael Lush","startTime":784.83,"endTime":787.38,"body":"merging your real estate loan"},{"speaker":"Michael Lush","startTime":787.56,"endTime":791.46,"body":"into your bank loan. And what it"},{"speaker":"Michael Lush","startTime":787.56,"endTime":791.46,"body":"is, is it's their term for home"},{"speaker":"Michael Lush","startTime":791.46,"endTime":794.85,"body":"equity line of credit. So in"},{"speaker":"Michael Lush","startTime":791.46,"endTime":794.85,"body":"Australia, they've been doing"},{"speaker":"Michael Lush","startTime":794.85,"endTime":798.63,"body":"this for decades, most of the"},{"speaker":"Michael Lush","startTime":794.85,"endTime":798.63,"body":"country that most of this is"},{"speaker":"Michael Lush","startTime":798.63,"endTime":802.8,"body":"what they do. Ironically, the"},{"speaker":"Michael Lush","startTime":798.63,"endTime":802.8,"body":"average Australian will pay off"},{"speaker":"Michael Lush","startTime":802.8,"endTime":806.7,"body":"two homes in 14 years. What do"},{"speaker":"Michael Lush","startTime":802.8,"endTime":806.7,"body":"you think the average American"},{"speaker":"Michael Lush","startTime":806.7,"endTime":810.66,"body":"pays off? They're only home?"},{"speaker":"Michael Lush","startTime":806.7,"endTime":810.66,"body":"What's the average 26 years over"},{"speaker":"Michael Lush","startTime":810.66,"endTime":814.17,"body":"30? Even if they take a certain"},{"speaker":"Michael Lush","startTime":810.66,"endTime":814.17,"body":"that, why is that because every"},{"speaker":"Michael Lush","startTime":814.17,"endTime":817.65,"body":"five to seven years, we're"},{"speaker":"Michael Lush","startTime":814.17,"endTime":817.65,"body":"refinancing or selling for"},{"speaker":"Michael Lush","startTime":817.65,"endTime":820.32,"body":"another house, but we're"},{"speaker":"Michael Lush","startTime":817.65,"endTime":820.32,"body":"refinancing to a lower rate on a"},{"speaker":"Michael Lush","startTime":820.32,"endTime":823.02,"body":"longer term back to a 30 year"},{"speaker":"Michael Lush","startTime":820.32,"endTime":823.02,"body":"term. And we think that that"},{"speaker":"Michael Lush","startTime":823.02,"endTime":826.29,"body":"saving us money, and it may on a"},{"speaker":"Michael Lush","startTime":823.02,"endTime":826.29,"body":"monthly basis, but it doesn't"},{"speaker":"Michael Lush","startTime":826.29,"endTime":828.96,"body":"long term. And that's what we"},{"speaker":"Michael Lush","startTime":826.29,"endTime":828.96,"body":"got to get back to is we got to"},{"speaker":"Michael Lush","startTime":828.96,"endTime":831.69,"body":"get back to thinking long term"},{"speaker":"Michael Lush","startTime":828.96,"endTime":831.69,"body":"and not just short term of what"},{"speaker":"Michael Lush","startTime":831.69,"endTime":835.26,"body":"we can cram as Americans into"},{"speaker":"Michael Lush","startTime":831.69,"endTime":835.26,"body":"our budget. So Australians don't"},{"speaker":"Michael Lush","startTime":835.26,"endTime":837.96,"body":"think that way south africans"},{"speaker":"Michael Lush","startTime":835.26,"endTime":837.96,"body":"don't think that way. Both the"},{"speaker":"Michael Lush","startTime":837.96,"endTime":840.57,"body":"United Kingdom, they don't think"},{"speaker":"Michael Lush","startTime":837.96,"endTime":840.57,"body":"that way. You know, if you look"},{"speaker":"Michael Lush","startTime":840.57,"endTime":844.44,"body":"at a house, that's $400,000, and"},{"speaker":"Michael Lush","startTime":840.57,"endTime":844.44,"body":"you finance it on a 30 year"},{"speaker":"Michael Lush","startTime":844.44,"endTime":846.96,"body":"term, how much is that house"},{"speaker":"Michael Lush","startTime":844.44,"endTime":846.96,"body":"gonna cost you? Probably"},{"speaker":"Michael Lush","startTime":847.02,"endTime":848.49,"body":"$800,000. Right?"},{"speaker":"Average Joe Finances","startTime":848.549,"endTime":849.179,"body":"You know,"},{"speaker":"Average Joe Finances","startTime":848.549,"endTime":849.179,"body":"let's"},{"speaker":"Michael Lush","startTime":849.18,"endTime":852.75,"body":"do it Australia."},{"speaker":"Michael Lush","startTime":849.18,"endTime":852.75,"body":"Yeah. So what you're buying one"},{"speaker":"Michael Lush","startTime":852.75,"endTime":856.29,"body":"house for you and one for the"},{"speaker":"Michael Lush","startTime":852.75,"endTime":856.29,"body":"bank. So what Australians United"},{"speaker":"Michael Lush","startTime":856.29,"endTime":859.32,"body":"Kingdom, you know, South"},{"speaker":"Michael Lush","startTime":856.29,"endTime":859.32,"body":"Africans think is they look at"},{"speaker":"Michael Lush","startTime":859.32,"endTime":862.59,"body":"that house and say, okay, at"},{"speaker":"Michael Lush","startTime":859.32,"endTime":862.59,"body":"what point is that house if I"},{"speaker":"Michael Lush","startTime":862.59,"endTime":865.62,"body":"finance that that way? Am I able"},{"speaker":"Michael Lush","startTime":862.59,"endTime":865.62,"body":"to sell it and actually make"},{"speaker":"Michael Lush","startTime":865.62,"endTime":868.62,"body":"money the Americans think we"},{"speaker":"Michael Lush","startTime":865.62,"endTime":868.62,"body":"bought for 405 years later, if"},{"speaker":"Michael Lush","startTime":868.62,"endTime":871.74,"body":"we sell for 450, we made money"},{"speaker":"Michael Lush","startTime":868.62,"endTime":871.74,"body":"we didn't because you didn't"},{"speaker":"Michael Lush","startTime":871.74,"endTime":873.96,"body":"take into account all the"},{"speaker":"Michael Lush","startTime":871.74,"endTime":873.96,"body":"interest that you pay for the"},{"speaker":"Michael Lush","startTime":873.96,"endTime":876.27,"body":"five years. Keep in mind the"},{"speaker":"Michael Lush","startTime":873.96,"endTime":876.27,"body":"first five years of 30 year"},{"speaker":"Michael Lush","startTime":876.27,"endTime":878.85,"body":"mortgage are basically interest"},{"speaker":"Michael Lush","startTime":876.27,"endTime":878.85,"body":"only payments is front loaded"},{"speaker":"Michael Lush","startTime":878.85,"endTime":881.31,"body":"with interest. So when you go to"},{"speaker":"Michael Lush","startTime":878.85,"endTime":881.31,"body":"pay it off, you will get the"},{"speaker":"Michael Lush","startTime":881.31,"endTime":884.61,"body":"balance of what you owe, or like"},{"speaker":"Michael Lush","startTime":881.31,"endTime":884.61,"body":"Doggone it is the same as what I"},{"speaker":"Michael Lush","startTime":884.61,"endTime":889.11,"body":"owed five years ago. It's"},{"speaker":"Michael Lush","startTime":884.61,"endTime":889.11,"body":"designed to be that way, because"},{"speaker":"Michael Lush","startTime":889.11,"endTime":893.04,"body":"they know that we refinance or"},{"speaker":"Michael Lush","startTime":889.11,"endTime":893.04,"body":"sell every five to seven years."},{"speaker":"Michael Lush","startTime":893.04,"endTime":895.95,"body":"So the banks are rushing in to"},{"speaker":"Michael Lush","startTime":893.04,"endTime":895.95,"body":"get their profits first before"},{"speaker":"Michael Lush","startTime":895.95,"endTime":900.72,"body":"you refinance. That that is in a"},{"speaker":"Michael Lush","startTime":895.95,"endTime":900.72,"body":"nutshell that now I would love"},{"speaker":"Michael Lush","startTime":900.72,"endTime":903.03,"body":"to get into the history of"},{"speaker":"Michael Lush","startTime":900.72,"endTime":903.03,"body":"mortgages."},{"speaker":"Average Joe Finances","startTime":903.149,"endTime":905.429,"body":"Yeah,"},{"speaker":"Average Joe Finances","startTime":903.149,"endTime":905.429,"body":"sure. I mean, so it's it's, it's"},{"speaker":"Average Joe Finances","startTime":905.429,"endTime":908.519,"body":"fascinating though, because you"},{"speaker":"Average Joe Finances","startTime":905.429,"endTime":908.519,"body":"know, when you think about it,"},{"speaker":"Average Joe Finances","startTime":908.519,"endTime":911.999,"body":"when you look at your"},{"speaker":"Average Joe Finances","startTime":908.519,"endTime":911.999,"body":"amortization, right table, and"},{"speaker":"Average Joe Finances","startTime":911.999,"endTime":915.389,"body":"you're trying to figure out, you"},{"speaker":"Average Joe Finances","startTime":911.999,"endTime":915.389,"body":"know, looking at these 360"},{"speaker":"Average Joe Finances","startTime":915.389,"endTime":919.109,"body":"payments that you have to make"},{"speaker":"Average Joe Finances","startTime":915.389,"endTime":919.109,"body":"over the next 30 years. And it's"},{"speaker":"Average Joe Finances","startTime":919.109,"endTime":922.169,"body":"not until you hit that 15 year"},{"speaker":"Average Joe Finances","startTime":919.109,"endTime":922.169,"body":"mark, where you really start to"},{"speaker":"Average Joe Finances","startTime":922.169,"endTime":925.979,"body":"see that you're paying more"},{"speaker":"Average Joe Finances","startTime":922.169,"endTime":925.979,"body":"principal than you are paying"},{"speaker":"Average Joe Finances","startTime":925.979,"endTime":928.469,"body":"interest. And everything"},{"speaker":"Michael Lush","startTime":928.74,"endTime":932.4,"body":"It is, it is it's"},{"speaker":"Michael Lush","startTime":928.74,"endTime":932.4,"body":"archaic. It's very archaic. So"},{"speaker":"Michael Lush","startTime":932.4,"endTime":934.59,"body":"as far as the history of"},{"speaker":"Michael Lush","startTime":932.4,"endTime":934.59,"body":"mortgages, it didn't, wasn't"},{"speaker":"Michael Lush","startTime":934.59,"endTime":937.89,"body":"always that way here in this"},{"speaker":"Michael Lush","startTime":934.59,"endTime":937.89,"body":"country. Actually, prior to"},{"speaker":"Michael Lush","startTime":937.89,"endTime":942.51,"body":"1913, a mortgage was designed"},{"speaker":"Michael Lush","startTime":937.89,"endTime":942.51,"body":"very similar to a home equity"},{"speaker":"Michael Lush","startTime":942.51,"endTime":946.08,"body":"line of credit. So what I'm"},{"speaker":"Michael Lush","startTime":942.51,"endTime":946.08,"body":"actually teaching folks isn't"},{"speaker":"Michael Lush","startTime":946.08,"endTime":949.17,"body":"something that's new. It's"},{"speaker":"Michael Lush","startTime":946.08,"endTime":949.17,"body":"actually extremely old. It's"},{"speaker":"Michael Lush","startTime":949.23,"endTime":951.87,"body":"older than the modern day"},{"speaker":"Michael Lush","startTime":949.23,"endTime":951.87,"body":"mortgage here in this country."},{"speaker":"Michael Lush","startTime":952.08,"endTime":954.96,"body":"So mortgage used to be something"},{"speaker":"Michael Lush","startTime":952.08,"endTime":954.96,"body":"that was open and money can move"},{"speaker":"Michael Lush","startTime":954.96,"endTime":958.41,"body":"in and out freely. It was"},{"speaker":"Michael Lush","startTime":954.96,"endTime":958.41,"body":"especially popular with farmers."},{"speaker":"Michael Lush","startTime":958.8,"endTime":961.83,"body":"Because if you own the farm, say"},{"speaker":"Michael Lush","startTime":958.8,"endTime":961.83,"body":"it's worth 200,000. And you're"},{"speaker":"Michael Lush","startTime":961.83,"endTime":963.72,"body":"like, you know what, I need to"},{"speaker":"Michael Lush","startTime":961.83,"endTime":963.72,"body":"go buy some equipment. So you"},{"speaker":"Michael Lush","startTime":963.72,"endTime":966.63,"body":"run out to the bank that day, I"},{"speaker":"Michael Lush","startTime":963.72,"endTime":966.63,"body":"need to borrow $10,000, because"},{"speaker":"Michael Lush","startTime":966.63,"endTime":969.03,"body":"I got to buy equipment."},{"speaker":"Michael Lush","startTime":966.63,"endTime":969.03,"body":"Obviously, these are inflated"},{"speaker":"Michael Lush","startTime":969.03,"endTime":973.8,"body":"numbers by till 1930, or 1912."},{"speaker":"Michael Lush","startTime":969.03,"endTime":973.8,"body":"But any $10,000 to buy"},{"speaker":"Michael Lush","startTime":973.8,"endTime":977.4,"body":"equipment, no problem exchange"},{"speaker":"Michael Lush","startTime":973.8,"endTime":977.4,"body":"deed, here's your 10 grand Thank"},{"speaker":"Michael Lush","startTime":977.4,"endTime":980.73,"body":"you. And then you go sell your"},{"speaker":"Michael Lush","startTime":977.4,"endTime":980.73,"body":"crop, and then you pay back the"},{"speaker":"Michael Lush","startTime":980.73,"endTime":984.03,"body":"10 grand plus some so money can"},{"speaker":"Michael Lush","startTime":980.73,"endTime":984.03,"body":"move in and out of your your"},{"speaker":"Michael Lush","startTime":984.03,"endTime":987.63,"body":"mortgage very freely. What is it"},{"speaker":"Michael Lush","startTime":984.03,"endTime":987.63,"body":"today, the closed end product,"},{"speaker":"Michael Lush","startTime":987.63,"endTime":990.75,"body":"meaning the only way to get cash"},{"speaker":"Michael Lush","startTime":987.63,"endTime":990.75,"body":"out of your home is to"},{"speaker":"Michael Lush","startTime":990.78,"endTime":993.99,"body":"refinance, which is very"},{"speaker":"Michael Lush","startTime":990.78,"endTime":993.99,"body":"expensive, closing costs and"},{"speaker":"Michael Lush","startTime":993.99,"endTime":997.53,"body":"things of age and time consuming"},{"speaker":"Michael Lush","startTime":993.99,"endTime":997.53,"body":"30 to 45 days on average, for"},{"speaker":"Michael Lush","startTime":997.53,"endTime":1001.61,"body":"sale. Neither one of those are"},{"speaker":"Michael Lush","startTime":997.53,"endTime":1001.61,"body":"ideal. So we thought we'd look"},{"speaker":"Michael Lush","startTime":1001.61,"endTime":1005.75,"body":"at that generation prior to 1913"},{"speaker":"Michael Lush","startTime":1001.61,"endTime":1005.75,"body":"are great grandfathers and"},{"speaker":"Michael Lush","startTime":1005.75,"endTime":1008.87,"body":"grandmothers. And we always hear"},{"speaker":"Michael Lush","startTime":1005.75,"endTime":1008.87,"body":"the same stories, they bought a"},{"speaker":"Michael Lush","startTime":1008.87,"endTime":1011.51,"body":"house and paid off in five to 10"},{"speaker":"Michael Lush","startTime":1008.87,"endTime":1011.51,"body":"years. There's a couple of"},{"speaker":"Michael Lush","startTime":1011.51,"endTime":1014.66,"body":"reasons for that one, they were"},{"speaker":"Michael Lush","startTime":1011.51,"endTime":1014.66,"body":"a better generation. They didn't"},{"speaker":"Michael Lush","startTime":1014.66,"endTime":1017.33,"body":"have social media and TV and"},{"speaker":"Michael Lush","startTime":1014.66,"endTime":1017.33,"body":"things like that to distract"},{"speaker":"Michael Lush","startTime":1017.33,"endTime":1019.76,"body":"them. They were more educated"},{"speaker":"Michael Lush","startTime":1017.33,"endTime":1019.76,"body":"and more discipline. But they"},{"speaker":"Michael Lush","startTime":1019.76,"endTime":1022.52,"body":"also had better tools, because"},{"speaker":"Michael Lush","startTime":1019.76,"endTime":1022.52,"body":"the mortgage back then was"},{"speaker":"Michael Lush","startTime":1022.52,"endTime":1025.31,"body":"entirely different than a"},{"speaker":"Michael Lush","startTime":1022.52,"endTime":1025.31,"body":"mortgage is today. So why do I"},{"speaker":"Michael Lush","startTime":1025.31,"endTime":1028.58,"body":"keep talking about 1913? What do"},{"speaker":"Michael Lush","startTime":1025.31,"endTime":1028.58,"body":"you think happened in 1913? That"},{"speaker":"Michael Lush","startTime":1028.58,"endTime":1030.68,"body":"kind of changed that game"},{"speaker":"Michael Lush","startTime":1028.58,"endTime":1030.68,"body":"forever. for Americans,"},{"speaker":"Average Joe Finances","startTime":1030.77,"endTime":1032.96,"body":"the"},{"speaker":"Average Joe Finances","startTime":1030.77,"endTime":1032.96,"body":"government got involved, usually"},{"speaker":"Average Joe Finances","startTime":1032.96,"endTime":1033.11,"body":"with"},{"speaker":"Michael Lush","startTime":1033.44,"endTime":1036.8,"body":"almost not quite,"},{"speaker":"Michael Lush","startTime":1033.44,"endTime":1036.8,"body":"it's the Federal Reserve. And"},{"speaker":"Michael Lush","startTime":1036.8,"endTime":1039.53,"body":"it's a really cool name. People"},{"speaker":"Michael Lush","startTime":1036.8,"endTime":1039.53,"body":"think that because the Federal"},{"speaker":"Michael Lush","startTime":1039.53,"endTime":1041.48,"body":"Reserve is part of the"},{"speaker":"Michael Lush","startTime":1039.53,"endTime":1041.48,"body":"government's not so neither"},{"speaker":"Michael Lush","startTime":1041.48,"endTime":1043.97,"body":"federal nor is that a reserve."},{"speaker":"Michael Lush","startTime":1041.48,"endTime":1043.97,"body":"But what the Federal Reserve is,"},{"speaker":"Michael Lush","startTime":1043.97,"endTime":1047.03,"body":"is a central bank. That is the"},{"speaker":"Michael Lush","startTime":1043.97,"endTime":1047.03,"body":"backstop of community banks and"},{"speaker":"Michael Lush","startTime":1047.03,"endTime":1051.08,"body":"national banks. And what it does"},{"speaker":"Michael Lush","startTime":1047.03,"endTime":1051.08,"body":"is it allows banks to execute a"},{"speaker":"Michael Lush","startTime":1051.08,"endTime":1054.68,"body":"really cool magic tricks called"},{"speaker":"Michael Lush","startTime":1051.08,"endTime":1054.68,"body":"fractional reserve lending. Now"},{"speaker":"Michael Lush","startTime":1054.68,"endTime":1057.53,"body":"what that means is for every"},{"speaker":"Michael Lush","startTime":1054.68,"endTime":1057.53,"body":"dollar, you put in a bank"},{"speaker":"Michael Lush","startTime":1057.53,"endTime":1060.35,"body":"account, they have $10, that"},{"speaker":"Michael Lush","startTime":1057.53,"endTime":1060.35,"body":"they can lend out sometimes 15."},{"speaker":"Michael Lush","startTime":1060.41,"endTime":1062.93,"body":"So if you put 10 grand in, they"},{"speaker":"Michael Lush","startTime":1060.41,"endTime":1062.93,"body":"get 100 grand, put 100 grand in"},{"speaker":"Michael Lush","startTime":1062.93,"endTime":1067.1,"body":"there got a million so after,"},{"speaker":"Michael Lush","startTime":1062.93,"endTime":1067.1,"body":"you know that happened in 1913,"},{"speaker":"Michael Lush","startTime":1067.19,"endTime":1069.95,"body":"which by the way, the you know,"},{"speaker":"Michael Lush","startTime":1067.19,"endTime":1069.95,"body":"the history of the Federal"},{"speaker":"Michael Lush","startTime":1069.95,"endTime":1072.62,"body":"Reserve and the creature of"},{"speaker":"Michael Lush","startTime":1069.95,"endTime":1072.62,"body":"Jekyll Island. That's a great"},{"speaker":"Michael Lush","startTime":1072.62,"endTime":1074.3,"body":"book, by the way. Have you ever"},{"speaker":"Michael Lush","startTime":1072.62,"endTime":1074.3,"body":"heard of that book?"},{"speaker":"Average Joe Finances","startTime":1074.63,"endTime":1076.52,"body":"No. What's"},{"speaker":"Average Joe Finances","startTime":1074.63,"endTime":1076.52,"body":"What's the name of the book,"},{"speaker":"Michael Lush","startTime":1076.609,"endTime":1078.289,"body":"The creature of"},{"speaker":"Michael Lush","startTime":1076.609,"endTime":1078.289,"body":"Jekyll Island?"},{"speaker":"Average Joe Finances","startTime":1078.54,"endTime":1080.13,"body":"The"},{"speaker":"Average Joe Finances","startTime":1078.54,"endTime":1080.13,"body":"creature of Jekyll Island?"},{"speaker":"Michael Lush","startTime":1080.16,"endTime":1083.25,"body":"Yes, yeah, really"},{"speaker":"Michael Lush","startTime":1080.16,"endTime":1083.25,"body":"good book it out. It's basically"},{"speaker":"Michael Lush","startTime":1083.28,"endTime":1088.56,"body":"a biography. And it's a true"},{"speaker":"Michael Lush","startTime":1083.28,"endTime":1088.56,"body":"account of how the Federal"},{"speaker":"Michael Lush","startTime":1088.56,"endTime":1092.22,"body":"Reserve came to be. It was"},{"speaker":"Michael Lush","startTime":1088.56,"endTime":1092.22,"body":"actually created by JP Morgan."},{"speaker":"Michael Lush","startTime":1092.67,"endTime":1096.0,"body":"So JP Morgan, and four or five"},{"speaker":"Michael Lush","startTime":1092.67,"endTime":1096.0,"body":"other individuals had a private"},{"speaker":"Michael Lush","startTime":1096.0,"endTime":1098.61,"body":"meeting off the coast of Georgia"},{"speaker":"Michael Lush","startTime":1096.0,"endTime":1098.61,"body":"on an island called Jekyll"},{"speaker":"Michael Lush","startTime":1098.61,"endTime":1102.42,"body":"Island that he owned, and so"},{"speaker":"Michael Lush","startTime":1098.61,"endTime":1102.42,"body":"private that the servants there"},{"speaker":"Michael Lush","startTime":1102.42,"endTime":1107.58,"body":"didn't know who was coming. So"},{"speaker":"Michael Lush","startTime":1102.42,"endTime":1107.58,"body":"and they were also so powerful"},{"speaker":"Michael Lush","startTime":1107.58,"endTime":1111.3,"body":"that those six individuals in"},{"speaker":"Michael Lush","startTime":1107.58,"endTime":1111.3,"body":"that meeting comprised of one"},{"speaker":"Michael Lush","startTime":1111.3,"endTime":1114.87,"body":"quarter of the world's GDP."},{"speaker":"Michael Lush","startTime":1111.3,"endTime":1114.87,"body":"That's how wealthy they were. So"},{"speaker":"Michael Lush","startTime":1115.08,"endTime":1117.96,"body":"in that meeting, they came up"},{"speaker":"Michael Lush","startTime":1115.08,"endTime":1117.96,"body":"with a business plan of the"},{"speaker":"Michael Lush","startTime":1117.96,"endTime":1121.8,"body":"Federal Reserve. So after 1913,"},{"speaker":"Michael Lush","startTime":1117.96,"endTime":1121.8,"body":"the banks get together and say,"},{"speaker":"Michael Lush","startTime":1121.98,"endTime":1125.01,"body":"Look, if we get more deposits,"},{"speaker":"Michael Lush","startTime":1121.98,"endTime":1125.01,"body":"because every time somebody"},{"speaker":"Michael Lush","startTime":1125.01,"endTime":1127.86,"body":"deposit the dollar, we have pin,"},{"speaker":"Michael Lush","startTime":1125.01,"endTime":1127.86,"body":"and every time somebody deposit"},{"speaker":"Michael Lush","startTime":1127.86,"endTime":1130.98,"body":"$10, we have 100, we need more"},{"speaker":"Michael Lush","startTime":1127.86,"endTime":1130.98,"body":"deposits. How are we going to go"},{"speaker":"Michael Lush","startTime":1130.98,"endTime":1135.18,"body":"about doing that? So they looked"},{"speaker":"Michael Lush","startTime":1130.98,"endTime":1135.18,"body":"at how Americans were what was"},{"speaker":"Michael Lush","startTime":1135.18,"endTime":1138.18,"body":"called an operating account, how"},{"speaker":"Michael Lush","startTime":1135.18,"endTime":1138.18,"body":"are they executing their"},{"speaker":"Michael Lush","startTime":1138.18,"endTime":1140.97,"body":"operating account, they were"},{"speaker":"Michael Lush","startTime":1138.18,"endTime":1140.97,"body":"operating in and out of their"},{"speaker":"Michael Lush","startTime":1140.97,"endTime":1143.52,"body":"mortgage, there was almost their"},{"speaker":"Michael Lush","startTime":1140.97,"endTime":1143.52,"body":"checking account, they didn't"},{"speaker":"Michael Lush","startTime":1143.52,"endTime":1145.44,"body":"leave it under the mattress,"},{"speaker":"Michael Lush","startTime":1143.52,"endTime":1145.44,"body":"they didn't go put it in a"},{"speaker":"Michael Lush","startTime":1145.44,"endTime":1147.63,"body":"checking and savings account,"},{"speaker":"Michael Lush","startTime":1145.44,"endTime":1147.63,"body":"for the most part, they were"},{"speaker":"Michael Lush","startTime":1147.63,"endTime":1149.82,"body":"operating in and out of their"},{"speaker":"Michael Lush","startTime":1147.63,"endTime":1149.82,"body":"mortgage, which is why they were"},{"speaker":"Michael Lush","startTime":1149.82,"endTime":1153.36,"body":"able to pay it off so quickly."},{"speaker":"Michael Lush","startTime":1149.82,"endTime":1153.36,"body":"So the banks got together and"},{"speaker":"Michael Lush","startTime":1153.36,"endTime":1156.63,"body":"change the mortgage forever. And"},{"speaker":"Michael Lush","startTime":1153.36,"endTime":1156.63,"body":"they made it a closed end"},{"speaker":"Michael Lush","startTime":1156.63,"endTime":1160.14,"body":"product, meaning money can only"},{"speaker":"Michael Lush","startTime":1156.63,"endTime":1160.14,"body":"go in freely, but not come out"},{"speaker":"Michael Lush","startTime":1160.14,"endTime":1164.28,"body":"freely. So think about that as"},{"speaker":"Michael Lush","startTime":1160.14,"endTime":1164.28,"body":"an individual. If you have an"},{"speaker":"Michael Lush","startTime":1164.28,"endTime":1167.85,"body":"account that's closed in, just"},{"speaker":"Michael Lush","startTime":1164.28,"endTime":1167.85,"body":"like today, you may have a"},{"speaker":"Michael Lush","startTime":1167.85,"endTime":1171.48,"body":"mortgage, how scary would it be"},{"speaker":"Michael Lush","startTime":1167.85,"endTime":1171.48,"body":"to put 100% of your income into"},{"speaker":"Michael Lush","startTime":1171.48,"endTime":1174.72,"body":"your mortgage? month one, you're"},{"speaker":"Michael Lush","startTime":1171.48,"endTime":1174.72,"body":"already freaking out at the end"},{"speaker":"Michael Lush","startTime":1174.72,"endTime":1177.75,"body":"of the month. Why? Because when"},{"speaker":"Michael Lush","startTime":1174.72,"endTime":1177.75,"body":"it's time to pay your bills,"},{"speaker":"Michael Lush","startTime":1178.08,"endTime":1181.32,"body":"your groceries or vacation, it"},{"speaker":"Michael Lush","startTime":1178.08,"endTime":1181.32,"body":"stuck in the bank's treasure"},{"speaker":"Michael Lush","startTime":1181.32,"endTime":1184.98,"body":"chest, you can't get it back"},{"speaker":"Michael Lush","startTime":1181.32,"endTime":1184.98,"body":"out. So what are you going to do"},{"speaker":"Michael Lush","startTime":1184.98,"endTime":1187.44,"body":"as a consumer? You're going to"},{"speaker":"Michael Lush","startTime":1184.98,"endTime":1187.44,"body":"say, Okay, well now I'm going to"},{"speaker":"Michael Lush","startTime":1187.44,"endTime":1191.22,"body":"put some of my money towards my"},{"speaker":"Michael Lush","startTime":1187.44,"endTime":1191.22,"body":"mortgage, and I'm gonna leave"},{"speaker":"Michael Lush","startTime":1191.25,"endTime":1194.67,"body":"the rest of it behind so that I"},{"speaker":"Michael Lush","startTime":1191.25,"endTime":1194.67,"body":"can pay those other bills. Where"},{"speaker":"Michael Lush","startTime":1194.67,"endTime":1197.07,"body":"are we leaving it? We're not"},{"speaker":"Michael Lush","startTime":1194.67,"endTime":1197.07,"body":"leaving it under the mattress."},{"speaker":"Michael Lush","startTime":1197.58,"endTime":1199.98,"body":"Where do we put it? We put it in"},{"speaker":"Michael Lush","startTime":1197.58,"endTime":1199.98,"body":"a checking and savings account."},{"speaker":"Michael Lush","startTime":1200.43,"endTime":1205.5,"body":"They pay us on national average"},{"speaker":"Michael Lush","startTime":1200.43,"endTime":1205.5,"body":"0.25% per year. So horrible rate"},{"speaker":"Michael Lush","startTime":1205.5,"endTime":1207.81,"body":"of return. Actually, it's not"},{"speaker":"Michael Lush","startTime":1205.5,"endTime":1207.81,"body":"even keeping up with inflation,"},{"speaker":"Michael Lush","startTime":1207.81,"endTime":1211.35,"body":"especially this year, not even"},{"speaker":"Michael Lush","startTime":1207.81,"endTime":1211.35,"body":"close your money. Yeah. So now"},{"speaker":"Michael Lush","startTime":1211.35,"endTime":1214.29,"body":"your money is actually going"},{"speaker":"Michael Lush","startTime":1211.35,"endTime":1214.29,"body":"backwards, right? So a checking"},{"speaker":"Michael Lush","startTime":1214.29,"endTime":1217.32,"body":"account, a savings account is a"},{"speaker":"Michael Lush","startTime":1214.29,"endTime":1217.32,"body":"liability. But what does that do"},{"speaker":"Michael Lush","startTime":1217.32,"endTime":1220.74,"body":"for the mortgage? So the"},{"speaker":"Michael Lush","startTime":1217.32,"endTime":1220.74,"body":"mortgage, if you only put some"},{"speaker":"Michael Lush","startTime":1220.74,"endTime":1222.54,"body":"of your money towards a"},{"speaker":"Michael Lush","startTime":1220.74,"endTime":1222.54,"body":"mortgage, instead of all of it,"},{"speaker":"Michael Lush","startTime":1222.57,"endTime":1225.09,"body":"well, you're going to pay on it"},{"speaker":"Michael Lush","startTime":1222.57,"endTime":1225.09,"body":"longer, right? So if you pay on"},{"speaker":"Michael Lush","startTime":1225.09,"endTime":1227.7,"body":"it longer, time and balance are"},{"speaker":"Michael Lush","startTime":1225.09,"endTime":1227.7,"body":"far more important than"},{"speaker":"Michael Lush","startTime":1227.7,"endTime":1230.88,"body":"interest, right? So if time and"},{"speaker":"Michael Lush","startTime":1227.7,"endTime":1230.88,"body":"balance are higher, over a"},{"speaker":"Michael Lush","startTime":1230.88,"endTime":1233.61,"body":"longer period of time, you're"},{"speaker":"Michael Lush","startTime":1230.88,"endTime":1233.61,"body":"going to pay more interest. But"},{"speaker":"Michael Lush","startTime":1233.61,"endTime":1236.58,"body":"that wasn't the number one goal"},{"speaker":"Michael Lush","startTime":1233.61,"endTime":1236.58,"body":"number one goal was to segregate"},{"speaker":"Michael Lush","startTime":1236.58,"endTime":1240.18,"body":"your income. They wanted to"},{"speaker":"Michael Lush","startTime":1236.58,"endTime":1240.18,"body":"separate you from your cash. So"},{"speaker":"Michael Lush","startTime":1240.18,"endTime":1242.28,"body":"since it became enclosed in"},{"speaker":"Michael Lush","startTime":1240.18,"endTime":1242.28,"body":"product, and you had to leave"},{"speaker":"Michael Lush","startTime":1242.28,"endTime":1245.25,"body":"money behind, you left it in"},{"speaker":"Michael Lush","startTime":1242.28,"endTime":1245.25,"body":"their coffers in the checking"},{"speaker":"Michael Lush","startTime":1245.25,"endTime":1247.71,"body":"and savings account, and that's"},{"speaker":"Michael Lush","startTime":1245.25,"endTime":1247.71,"body":"where they grow core deposits."},{"speaker":"Michael Lush","startTime":1247.83,"endTime":1251.64,"body":"Why do I know this? Because I"},{"speaker":"Michael Lush","startTime":1247.83,"endTime":1251.64,"body":"sit on the board of the bank, I"},{"speaker":"Michael Lush","startTime":1251.64,"endTime":1254.58,"body":"sat on the boards of other"},{"speaker":"Michael Lush","startTime":1251.64,"endTime":1254.58,"body":"banks. I can tell you in those"},{"speaker":"Michael Lush","startTime":1254.58,"endTime":1258.54,"body":"meetings, the number one focus"},{"speaker":"Michael Lush","startTime":1254.58,"endTime":1258.54,"body":"is how do we grow core deposits."},{"speaker":"Michael Lush","startTime":1258.63,"endTime":1261.9,"body":"That's what they want. They want"},{"speaker":"Michael Lush","startTime":1258.63,"endTime":1261.9,"body":"more depositors so that they can"},{"speaker":"Michael Lush","startTime":1261.9,"endTime":1264.63,"body":"lend more money out and it's"},{"speaker":"Michael Lush","startTime":1261.9,"endTime":1264.63,"body":"called velocity banking. So"},{"speaker":"Michael Lush","startTime":1264.93,"endTime":1268.47,"body":"that's a history lesson on"},{"speaker":"Michael Lush","startTime":1264.93,"endTime":1268.47,"body":"mortgages. And a HELOC is really"},{"speaker":"Michael Lush","startTime":1268.47,"endTime":1272.16,"body":"just going back to basics. It's"},{"speaker":"Michael Lush","startTime":1268.47,"endTime":1272.16,"body":"not teaching us something new."},{"speaker":"Michael Lush","startTime":1272.25,"endTime":1274.92,"body":"It's going back to the way that"},{"speaker":"Michael Lush","startTime":1272.25,"endTime":1274.92,"body":"we use to finance real estate"},{"speaker":"Michael Lush","startTime":1274.92,"endTime":1277.86,"body":"more efficiently to become"},{"speaker":"Michael Lush","startTime":1274.92,"endTime":1277.86,"body":"financially independent. Because"},{"speaker":"Michael Lush","startTime":1277.86,"endTime":1281.43,"body":"a HELOC is an instrument that is"},{"speaker":"Michael Lush","startTime":1277.86,"endTime":1281.43,"body":"open ended money can move in and"},{"speaker":"Michael Lush","startTime":1281.43,"endTime":1283.53,"body":"out freely. A lot of these he"},{"speaker":"Michael Lush","startTime":1281.43,"endTime":1283.53,"body":"locks you get a debit card,"},{"speaker":"Michael Lush","startTime":1283.53,"endTime":1285.84,"body":"whether you get checks whether"},{"speaker":"Michael Lush","startTime":1283.53,"endTime":1285.84,"body":"you get all our bill pay, you"},{"speaker":"Michael Lush","startTime":1285.84,"endTime":1289.26,"body":"know i right now I can just"},{"speaker":"Michael Lush","startTime":1285.84,"endTime":1289.26,"body":"swipe my HELOC card and pull as"},{"speaker":"Michael Lush","startTime":1289.26,"endTime":1292.02,"body":"much cash out of it as I want to"},{"speaker":"Michael Lush","startTime":1289.26,"endTime":1292.02,"body":"tonight. I don't have to wait"},{"speaker":"Michael Lush","startTime":1292.02,"endTime":1294.12,"body":"until tomorrow. I can do it"},{"speaker":"Michael Lush","startTime":1292.02,"endTime":1294.12,"body":"tonight. Just like I said, if it"},{"speaker":"Michael Lush","startTime":1294.12,"endTime":1296.25,"body":"was a checking savings account,"},{"speaker":"Michael Lush","startTime":1294.12,"endTime":1296.25,"body":"but I don't do that, because"},{"speaker":"Michael Lush","startTime":1296.25,"endTime":1299.01,"body":"what is it doing is going to"},{"speaker":"Michael Lush","startTime":1296.25,"endTime":1299.01,"body":"work for me. So when we get off"},{"speaker":"Michael Lush","startTime":1299.01,"endTime":1303.12,"body":"this podcast, I go to bed. My"},{"speaker":"Michael Lush","startTime":1299.01,"endTime":1303.12,"body":"money is working for me, as"},{"speaker":"Michael Lush","startTime":1303.12,"endTime":1305.85,"body":"opposed to in a checking account"},{"speaker":"Michael Lush","startTime":1303.12,"endTime":1305.85,"body":"where it's working against me"},{"speaker":"Average Joe Finances","startTime":1305.9,"endTime":1309.02,"body":"right on"},{"speaker":"Average Joe Finances","startTime":1305.9,"endTime":1309.02,"body":"Yeah, so I I've, I've seen you"},{"speaker":"Average Joe Finances","startTime":1309.02,"endTime":1313.16,"body":"know some of your videos before."},{"speaker":"Average Joe Finances","startTime":1309.02,"endTime":1313.16,"body":"So I kind of I kind of have like"},{"speaker":"Average Joe Finances","startTime":1313.16,"endTime":1317.0,"body":"the gist of it right where, you"},{"speaker":"Average Joe Finances","startTime":1313.16,"endTime":1317.0,"body":"know, you're pretty much"},{"speaker":"Average Joe Finances","startTime":1317.03,"endTime":1321.29,"body":"essentially you're taking a"},{"speaker":"Average Joe Finances","startTime":1317.03,"endTime":1321.29,"body":"HELOC out for the entire value"},{"speaker":"Average Joe Finances","startTime":1321.29,"endTime":1323.66,"body":"of your home the entire price of"},{"speaker":"Average Joe Finances","startTime":1321.29,"endTime":1323.66,"body":"your home for the mortgage,"},{"speaker":"Average Joe Finances","startTime":1323.66,"endTime":1326.69,"body":"right you're paying off your"},{"speaker":"Average Joe Finances","startTime":1323.66,"endTime":1326.69,"body":"mortgage with your HELOC or"},{"speaker":"Average Joe Finances","startTime":1327.26,"endTime":1329.51,"body":"while you work it to that point,"},{"speaker":"Average Joe Finances","startTime":1327.26,"endTime":1329.51,"body":"right you take the HELOC and you"},{"speaker":"Average Joe Finances","startTime":1329.51,"endTime":1332.93,"body":"just dump the entire thing into"},{"speaker":"Average Joe Finances","startTime":1329.51,"endTime":1332.93,"body":"it. And then you take your"},{"speaker":"Average Joe Finances","startTime":1332.93,"endTime":1336.44,"body":"paycheck right and you're taking"},{"speaker":"Average Joe Finances","startTime":1332.93,"endTime":1336.44,"body":"pretty much all of your pay and"},{"speaker":"Average Joe Finances","startTime":1336.44,"endTime":1339.41,"body":"just dumping it back into the"},{"speaker":"Average Joe Finances","startTime":1336.44,"endTime":1339.41,"body":"HELOC. And for any other bills"},{"speaker":"Average Joe Finances","startTime":1339.41,"endTime":1343.7,"body":"or expenses, you're using your"},{"speaker":"Average Joe Finances","startTime":1339.41,"endTime":1343.7,"body":"HELOC to pay those right, so"},{"speaker":"Average Joe Finances","startTime":1343.7,"endTime":1348.44,"body":"you're having like a much larger"},{"speaker":"Average Joe Finances","startTime":1343.7,"endTime":1348.44,"body":"upfront payment monthly payment"},{"speaker":"Average Joe Finances","startTime":1348.44,"endTime":1353.66,"body":"into that he locked versus, you"},{"speaker":"Average Joe Finances","startTime":1348.44,"endTime":1353.66,"body":"know what you're versus like,"},{"speaker":"Average Joe Finances","startTime":1353.69,"endTime":1356.57,"body":"you know, just making the"},{"speaker":"Average Joe Finances","startTime":1353.69,"endTime":1356.57,"body":"mortgage payment and then, you"},{"speaker":"Average Joe Finances","startTime":1356.57,"endTime":1358.91,"body":"know, budgeting your money to"},{"speaker":"Average Joe Finances","startTime":1356.57,"endTime":1358.91,"body":"the side for the other things,"},{"speaker":"Average Joe Finances","startTime":1358.94,"endTime":1363.92,"body":"your other bills that you have"},{"speaker":"Average Joe Finances","startTime":1358.94,"endTime":1363.92,"body":"to pay. Now, I totally get that."},{"speaker":"Average Joe Finances","startTime":1363.92,"endTime":1366.74,"body":"But now how would somebody who"},{"speaker":"Average Joe Finances","startTime":1363.92,"endTime":1366.74,"body":"like you know, they've already"},{"speaker":"Average Joe Finances","startTime":1366.74,"endTime":1369.62,"body":"got their budget set up, like,"},{"speaker":"Average Joe Finances","startTime":1366.74,"endTime":1369.62,"body":"you know, they're paying their"},{"speaker":"Average Joe Finances","startTime":1369.62,"endTime":1373.64,"body":"mortgage, they're paying their"},{"speaker":"Average Joe Finances","startTime":1369.62,"endTime":1373.64,"body":"car payment. They're investing,"},{"speaker":"Average Joe Finances","startTime":1373.64,"endTime":1377.36,"body":"you know, 10 to 15% or more,"},{"speaker":"Average Joe Finances","startTime":1373.64,"endTime":1377.36,"body":"right? Whatever it is that"},{"speaker":"Average Joe Finances","startTime":1377.36,"endTime":1382.31,"body":"they're investing in separate"},{"speaker":"Average Joe Finances","startTime":1377.36,"endTime":1382.31,"body":"brokerage accounts, or they're"},{"speaker":"Average Joe Finances","startTime":1382.31,"endTime":1385.04,"body":"investing You know, this much"},{"speaker":"Average Joe Finances","startTime":1382.31,"endTime":1385.04,"body":"into real estate every month, or"},{"speaker":"Average Joe Finances","startTime":1385.04,"endTime":1387.98,"body":"Hey, I'm, I'm putting this much"},{"speaker":"Average Joe Finances","startTime":1385.04,"endTime":1387.98,"body":"to the side for my next down"},{"speaker":"Average Joe Finances","startTime":1387.98,"endTime":1392.6,"body":"payment on my next property. How"},{"speaker":"Average Joe Finances","startTime":1387.98,"endTime":1392.6,"body":"would that work for somebody in"},{"speaker":"Average Joe Finances","startTime":1392.6,"endTime":1395.54,"body":"a situation like that? Would"},{"speaker":"Average Joe Finances","startTime":1392.6,"endTime":1395.54,"body":"they would just would they still"},{"speaker":"Average Joe Finances","startTime":1395.54,"endTime":1398.45,"body":"put their stuff to the side and"},{"speaker":"Average Joe Finances","startTime":1395.54,"endTime":1398.45,"body":"then put everything else into"},{"speaker":"Average Joe Finances","startTime":1398.45,"endTime":1400.04,"body":"the HELOC? Like how does this"},{"speaker":"Average Joe Finances","startTime":1398.45,"endTime":1400.04,"body":"work?"},{"speaker":"Average Joe Finances","startTime":1400.61,"endTime":1403.85,"body":"Let's take a brief moment to"},{"speaker":"Average Joe Finances","startTime":1400.61,"endTime":1403.85,"body":"hear from our show sponsors."},{"speaker":"Average Joe Finances","startTime":1404.48,"endTime":1406.73,"body":"What's going on everybody? So"},{"speaker":"Average Joe Finances","startTime":1404.48,"endTime":1406.73,"body":"today I want to talk to you"},{"speaker":"Average Joe Finances","startTime":1406.73,"endTime":1410.27,"body":"about Buzzsprout the Average Joe"},{"speaker":"Average Joe Finances","startTime":1406.73,"endTime":1410.27,"body":"Finances podcast recently"},{"speaker":"Average Joe Finances","startTime":1410.27,"endTime":1413.69,"body":"switched over to buzzsprout. And"},{"speaker":"Average Joe Finances","startTime":1410.27,"endTime":1413.69,"body":"I gotta say, I am super happy"},{"speaker":"Average Joe Finances","startTime":1413.69,"endTime":1416.9,"body":"with the progress. Our podcast"},{"speaker":"Average Joe Finances","startTime":1413.69,"endTime":1416.9,"body":"is now on every single major"},{"speaker":"Average Joe Finances","startTime":1416.9,"endTime":1420.26,"body":"platform and reaching audiences"},{"speaker":"Average Joe Finances","startTime":1416.9,"endTime":1420.26,"body":"that we couldn't reach before"},{"speaker":"Average Joe Finances","startTime":1420.26,"endTime":1424.04,"body":"which is just super awesome. So"},{"speaker":"Average Joe Finances","startTime":1420.26,"endTime":1424.04,"body":"thank you to buzzsprout for"},{"speaker":"Average Joe Finances","startTime":1424.04,"endTime":1427.13,"body":"being such a great platform, but"},{"speaker":"Average Joe Finances","startTime":1424.04,"endTime":1427.13,"body":"also I want to say hey guys, if"},{"speaker":"Average Joe Finances","startTime":1427.13,"endTime":1429.32,"body":"you sign up for buzzsprout and"},{"speaker":"Average Joe Finances","startTime":1427.13,"endTime":1429.32,"body":"you sign up for one of their"},{"speaker":"Average Joe Finances","startTime":1429.32,"endTime":1432.77,"body":"paid plans using our link,"},{"speaker":"Average Joe Finances","startTime":1429.32,"endTime":1432.77,"body":"you'll get a $20 amazon gift"},{"speaker":"Average Joe Finances","startTime":1432.77,"endTime":1437.33,"body":"card to go check them out. It's"},{"speaker":"Average Joe Finances","startTime":1432.77,"endTime":1437.33,"body":"averagejoefinances.com/buzzsprout."},{"speaker":"Average Joe Finances","startTime":1437.54,"endTime":1440.72,"body":"And we'll make sure the link is"},{"speaker":"Average Joe Finances","startTime":1437.54,"endTime":1440.72,"body":"in the show notes below What's"},{"speaker":"Average Joe Finances","startTime":1440.72,"endTime":1443.06,"body":"going on everybody so today I"},{"speaker":"Average Joe Finances","startTime":1440.72,"endTime":1443.06,"body":"want to talk to you about the"},{"speaker":"Average Joe Finances","startTime":1443.06,"endTime":1446.54,"body":"podcast editing service that we"},{"speaker":"Average Joe Finances","startTime":1443.06,"endTime":1446.54,"body":"use for the Average Joe Finances"},{"speaker":"Average Joe Finances","startTime":1446.54,"endTime":1451.7,"body":"podcast that is editpods.com and"},{"speaker":"Average Joe Finances","startTime":1446.54,"endTime":1451.7,"body":"what I really like about them is"},{"speaker":"Average Joe Finances","startTime":1451.7,"endTime":1454.46,"body":"it's a subscription based"},{"speaker":"Average Joe Finances","startTime":1451.7,"endTime":1454.46,"body":"service. So the prices are"},{"speaker":"Average Joe Finances","startTime":1454.46,"endTime":1458.69,"body":"fantastic. And not only do they"},{"speaker":"Average Joe Finances","startTime":1454.46,"endTime":1458.69,"body":"do the podcast episodes for us,"},{"speaker":"Average Joe Finances","startTime":1458.69,"endTime":1462.65,"body":"but they also make us videos,"},{"speaker":"Average Joe Finances","startTime":1458.69,"endTime":1462.65,"body":"audio grams social media caption"},{"speaker":"Average Joe Finances","startTime":1462.65,"endTime":1466.76,"body":"videos, they do our show notes"},{"speaker":"Average Joe Finances","startTime":1462.65,"endTime":1466.76,"body":"thumbnails, it's just fantastic"},{"speaker":"Average Joe Finances","startTime":1466.76,"endTime":1471.8,"body":"products go check them out at"},{"speaker":"Average Joe Finances","startTime":1466.76,"endTime":1471.8,"body":"editpods.com let's get back to"},{"speaker":"Average Joe Finances","startTime":1471.8,"endTime":1476.12,"body":"today's episode. You're"},{"speaker":"Average Joe Finances","startTime":1471.8,"endTime":1476.12,"body":"listening to the Average Joe"},{"speaker":"Average Joe Finances","startTime":1476.12,"endTime":1480.35,"body":"Finances podcast. Whether it's"},{"speaker":"Average Joe Finances","startTime":1476.12,"endTime":1480.35,"body":"single or multifamily real"},{"speaker":"Average Joe Finances","startTime":1480.35,"endTime":1485.3,"body":"estate, the stock market or side"},{"speaker":"Average Joe Finances","startTime":1480.35,"endTime":1485.3,"body":"hustles we discuss it all strap"},{"speaker":"Average Joe Finances","startTime":1485.3,"endTime":1487.1,"body":"in and enjoy the ride."},{"speaker":"Michael Lush","startTime":1488.51,"endTime":1490.94,"body":"Think about how we"},{"speaker":"Michael Lush","startTime":1488.51,"endTime":1490.94,"body":"typically operate as Americans"},{"speaker":"Michael Lush","startTime":1490.94,"endTime":1493.76,"body":"so the scenario that you just"},{"speaker":"Michael Lush","startTime":1490.94,"endTime":1493.76,"body":"mentioned, where does Where's"},{"speaker":"Michael Lush","startTime":1493.76,"endTime":1495.95,"body":"their money when they earn"},{"speaker":"Michael Lush","startTime":1493.76,"endTime":1495.95,"body":"money? Where's it going first,"},{"speaker":"Michael Lush","startTime":1495.98,"endTime":1498.05,"body":"it's going into the checking"},{"speaker":"Michael Lush","startTime":1495.98,"endTime":1498.05,"body":"account right get in from the"},{"speaker":"Michael Lush","startTime":1498.05,"endTime":1500.48,"body":"checking account it may go to an"},{"speaker":"Michael Lush","startTime":1498.05,"endTime":1500.48,"body":"investment account They go to a"},{"speaker":"Michael Lush","startTime":1500.48,"endTime":1504.29,"body":"savings account. Some may go"},{"speaker":"Michael Lush","startTime":1500.48,"endTime":1504.29,"body":"towards bills that are right. So"},{"speaker":"Michael Lush","startTime":1504.32,"endTime":1507.5,"body":"really what we're doing is we're"},{"speaker":"Michael Lush","startTime":1504.32,"endTime":1507.5,"body":"not just replacing the mortgage"},{"speaker":"Michael Lush","startTime":1507.5,"endTime":1509.96,"body":"with a home equity line of"},{"speaker":"Michael Lush","startTime":1507.5,"endTime":1509.96,"body":"credit, we're also replacing the"},{"speaker":"Michael Lush","startTime":1509.96,"endTime":1513.02,"body":"checking account with a home"},{"speaker":"Michael Lush","startTime":1509.96,"endTime":1513.02,"body":"equity line of credit. Right. So"},{"speaker":"Michael Lush","startTime":1513.02,"endTime":1515.72,"body":"again, these he walks have the"},{"speaker":"Michael Lush","startTime":1513.02,"endTime":1515.72,"body":"same capabilities as a checking"},{"speaker":"Michael Lush","startTime":1515.72,"endTime":1518.48,"body":"account does online bill pay you"},{"speaker":"Michael Lush","startTime":1515.72,"endTime":1518.48,"body":"log on, you can see your"},{"speaker":"Michael Lush","startTime":1518.48,"endTime":1521.6,"body":"balance, you can move money"},{"speaker":"Michael Lush","startTime":1518.48,"endTime":1521.6,"body":"around all you want. So first"},{"speaker":"Michael Lush","startTime":1521.6,"endTime":1524.57,"body":"and foremost, the money goes"},{"speaker":"Michael Lush","startTime":1521.6,"endTime":1524.57,"body":"into the HELOC. Because again,"},{"speaker":"Michael Lush","startTime":1524.57,"endTime":1526.55,"body":"time and balance are far more"},{"speaker":"Michael Lush","startTime":1524.57,"endTime":1526.55,"body":"important than interest right."},{"speaker":"Michael Lush","startTime":1527.03,"endTime":1532.07,"body":"Then from the HELOC, you deploy"},{"speaker":"Michael Lush","startTime":1527.03,"endTime":1532.07,"body":"your funds as you need to. So if"},{"speaker":"Michael Lush","startTime":1532.07,"endTime":1535.01,"body":"you're on a budget and you you"},{"speaker":"Michael Lush","startTime":1532.07,"endTime":1535.01,"body":"keep that budget, so whatever"},{"speaker":"Michael Lush","startTime":1535.01,"endTime":1537.38,"body":"you would typically save and put"},{"speaker":"Michael Lush","startTime":1535.01,"endTime":1537.38,"body":"in a savings account. You're not"},{"speaker":"Michael Lush","startTime":1537.38,"endTime":1539.51,"body":"putting in a savings account"},{"speaker":"Michael Lush","startTime":1537.38,"endTime":1539.51,"body":"anymore. It's a crappy rate of"},{"speaker":"Michael Lush","startTime":1539.51,"endTime":1542.18,"body":"return, right? Yeah, I'd rather"},{"speaker":"Michael Lush","startTime":1539.51,"endTime":1542.18,"body":"have it my HELOC. So that"},{"speaker":"Michael Lush","startTime":1542.18,"endTime":1545.03,"body":"becomes my savings account. Then"},{"speaker":"Michael Lush","startTime":1542.18,"endTime":1545.03,"body":"if I don't invest out of my"},{"speaker":"Michael Lush","startTime":1545.03,"endTime":1548.3,"body":"HELOC, which is what I do, then"},{"speaker":"Michael Lush","startTime":1545.03,"endTime":1548.3,"body":"you invest out of your he lock."},{"speaker":"Michael Lush","startTime":1548.6,"endTime":1550.7,"body":"So you're you're not just"},{"speaker":"Michael Lush","startTime":1548.6,"endTime":1550.7,"body":"replacing the mortgage, you're"},{"speaker":"Michael Lush","startTime":1550.7,"endTime":1553.73,"body":"also replacing the check cancel"},{"speaker":"Michael Lush","startTime":1550.7,"endTime":1553.73,"body":"their their activities don't"},{"speaker":"Michael Lush","startTime":1553.73,"endTime":1554.18,"body":"change."},{"speaker":"Average Joe Finances","startTime":1554.3,"endTime":1556.85,"body":"Okay, so"},{"speaker":"Average Joe Finances","startTime":1554.3,"endTime":1556.85,"body":"like so let's hypothetical"},{"speaker":"Average Joe Finances","startTime":1556.85,"endTime":1561.59,"body":"someone's making 10,000 a month,"},{"speaker":"Average Joe Finances","startTime":1556.85,"endTime":1561.59,"body":"they'll take that entire 10,000"},{"speaker":"Average Joe Finances","startTime":1561.59,"endTime":1565.49,"body":"a month and put it into the"},{"speaker":"Average Joe Finances","startTime":1561.59,"endTime":1565.49,"body":"HELOC. And then any other bills"},{"speaker":"Average Joe Finances","startTime":1565.52,"endTime":1569.33,"body":"or you know, let's say they were"},{"speaker":"Average Joe Finances","startTime":1565.52,"endTime":1569.33,"body":"putting, you know, $1,000 a"},{"speaker":"Average Joe Finances","startTime":1569.33,"endTime":1572.75,"body":"month into a brokerage account,"},{"speaker":"Average Joe Finances","startTime":1569.33,"endTime":1572.75,"body":"they would just pull it out of"},{"speaker":"Average Joe Finances","startTime":1572.75,"endTime":1575.75,"body":"the HELOC and put it into the"},{"speaker":"Average Joe Finances","startTime":1572.75,"endTime":1575.75,"body":"brokerage account that way."},{"speaker":"Average Joe Finances","startTime":1576.05,"endTime":1579.47,"body":"Exactly, yep. Okay. Very"},{"speaker":"Average Joe Finances","startTime":1576.05,"endTime":1579.47,"body":"interesting. So, how come more"},{"speaker":"Average Joe Finances","startTime":1579.47,"endTime":1582.95,"body":"people aren't doing this? Or, or"},{"speaker":"Average Joe Finances","startTime":1579.47,"endTime":1582.95,"body":"why don't they know about this?"},{"speaker":"Average Joe Finances","startTime":1583.07,"endTime":1583.4,"body":"Ah,"},{"speaker":"Michael Lush","startTime":1583.849,"endTime":1587.989,"body":"good question. I"},{"speaker":"Michael Lush","startTime":1583.849,"endTime":1587.989,"body":"get that a lot. So one, think"},{"speaker":"Michael Lush","startTime":1587.989,"endTime":1593.749,"body":"about us the consumer, right? So"},{"speaker":"Michael Lush","startTime":1587.989,"endTime":1593.749,"body":"if you practice this, you pay a"},{"speaker":"Michael Lush","startTime":1593.749,"endTime":1596.179,"body":"lot, you pay a fraction of the"},{"speaker":"Michael Lush","startTime":1593.749,"endTime":1596.179,"body":"interest that you would on a"},{"speaker":"Michael Lush","startTime":1596.179,"endTime":1599.719,"body":"mortgage. Is that good or bad"},{"speaker":"Michael Lush","startTime":1596.179,"endTime":1599.719,"body":"for the bank? That's bad, right?"},{"speaker":"Michael Lush","startTime":1599.839,"endTime":1602.959,"body":"Yeah, yeah, less profit, less"},{"speaker":"Michael Lush","startTime":1599.839,"endTime":1602.959,"body":"profits to the bank. So it's bad"},{"speaker":"Michael Lush","startTime":1602.959,"endTime":1606.619,"body":"for the bank. So now, is it less"},{"speaker":"Michael Lush","startTime":1602.959,"endTime":1606.619,"body":"interest to the bank that they"},{"speaker":"Michael Lush","startTime":1606.619,"endTime":1610.069,"body":"are? But also what else? Are you"},{"speaker":"Michael Lush","startTime":1606.619,"endTime":1610.069,"body":"abandoning the checking and"},{"speaker":"Michael Lush","startTime":1610.069,"endTime":1612.619,"body":"savings account? I'm not saying"},{"speaker":"Michael Lush","startTime":1610.069,"endTime":1612.619,"body":"go close them, I'm just saying"},{"speaker":"Michael Lush","startTime":1612.619,"endTime":1615.439,"body":"don't use it. Because it's, it's"},{"speaker":"Michael Lush","startTime":1612.619,"endTime":1615.439,"body":"not benefiting you, it's"},{"speaker":"Michael Lush","startTime":1615.439,"endTime":1618.499,"body":"actually hurting you. So it's"},{"speaker":"Michael Lush","startTime":1615.439,"endTime":1618.499,"body":"not in the bank's best interest"},{"speaker":"Michael Lush","startTime":1618.559,"endTime":1623.059,"body":"to promote this and to educate"},{"speaker":"Michael Lush","startTime":1618.559,"endTime":1623.059,"body":"it right. On top of that, if you"},{"speaker":"Michael Lush","startTime":1623.059,"endTime":1626.089,"body":"look at the compensation plans"},{"speaker":"Michael Lush","startTime":1623.059,"endTime":1626.089,"body":"for bankers versus loan"},{"speaker":"Michael Lush","startTime":1626.089,"endTime":1628.879,"body":"officers, loan officers are"},{"speaker":"Michael Lush","startTime":1626.089,"endTime":1628.879,"body":"folks that do mortgages, right."},{"speaker":"Michael Lush","startTime":1629.029,"endTime":1631.939,"body":"And bankers are folks that do"},{"speaker":"Michael Lush","startTime":1629.029,"endTime":1631.939,"body":"home equity lines of credit,"},{"speaker":"Michael Lush","startTime":1631.939,"endTime":1633.469,"body":"you're not going to get a home"},{"speaker":"Michael Lush","startTime":1631.939,"endTime":1633.469,"body":"equity line of credit, for the"},{"speaker":"Michael Lush","startTime":1633.469,"endTime":1635.509,"body":"most part from a mortgage"},{"speaker":"Michael Lush","startTime":1633.469,"endTime":1635.509,"body":"company, they don't offer they"},{"speaker":"Michael Lush","startTime":1635.509,"endTime":1638.719,"body":"offer mortgages. Banks are the"},{"speaker":"Michael Lush","startTime":1635.509,"endTime":1638.719,"body":"ones that offer home equity"},{"speaker":"Michael Lush","startTime":1638.719,"endTime":1641.629,"body":"lines of credit. And if you look"},{"speaker":"Michael Lush","startTime":1638.719,"endTime":1641.629,"body":"at the compensation plan of a"},{"speaker":"Michael Lush","startTime":1641.629,"endTime":1646.489,"body":"banker, they don't get paid to"},{"speaker":"Michael Lush","startTime":1641.629,"endTime":1646.489,"body":"do he walks. In fact, we've gone"},{"speaker":"Michael Lush","startTime":1646.489,"endTime":1649.159,"body":"through, you know, over the last"},{"speaker":"Michael Lush","startTime":1646.489,"endTime":1649.159,"body":"seven years, we've got"},{"speaker":"Michael Lush","startTime":1649.159,"endTime":1651.469,"body":"relationships with 1000s of"},{"speaker":"Michael Lush","startTime":1649.159,"endTime":1651.469,"body":"banks, and we've had some"},{"speaker":"Michael Lush","startTime":1651.469,"endTime":1654.799,"body":"bankers call us up and say, Hey,"},{"speaker":"Michael Lush","startTime":1651.469,"endTime":1654.799,"body":"please don't refer anybody over"},{"speaker":"Michael Lush","startTime":1654.799,"endTime":1658.939,"body":"to us anymore. like wow, like,"},{"speaker":"Michael Lush","startTime":1654.799,"endTime":1658.939,"body":"Look, we get paid the same if we"},{"speaker":"Michael Lush","startTime":1658.939,"endTime":1661.909,"body":"get two phone calls a week"},{"speaker":"Michael Lush","startTime":1658.939,"endTime":1661.909,"body":"versus 20. So we'd rather get"},{"speaker":"Michael Lush","startTime":1661.909,"endTime":1665.839,"body":"two oh my goodness, as an"},{"speaker":"Michael Lush","startTime":1661.909,"endTime":1665.839,"body":"entrepreneur, it's like, it's"},{"speaker":"Michael Lush","startTime":1665.839,"endTime":1668.539,"body":"like nails on a chalkboard,"},{"speaker":"Michael Lush","startTime":1665.839,"endTime":1668.539,"body":"right? Like how in the world if"},{"speaker":"Michael Lush","startTime":1668.539,"endTime":1671.569,"body":"your boss or the owner of this"},{"speaker":"Michael Lush","startTime":1668.539,"endTime":1671.569,"body":"only knew your attitude, that's"},{"speaker":"Michael Lush","startTime":1671.629,"endTime":1674.869,"body":"deplorable. But that's the"},{"speaker":"Michael Lush","startTime":1671.629,"endTime":1674.869,"body":"mentality, right? They don't get"},{"speaker":"Michael Lush","startTime":1674.869,"endTime":1678.169,"body":"paid to do it, he locks in"},{"speaker":"Michael Lush","startTime":1674.869,"endTime":1678.169,"body":"sometimes they do that when I"},{"speaker":"Michael Lush","startTime":1678.169,"endTime":1681.829,"body":"say that there might be 250"},{"speaker":"Michael Lush","startTime":1678.169,"endTime":1681.829,"body":"bucks. But if you look at the"},{"speaker":"Michael Lush","startTime":1681.829,"endTime":1686.839,"body":"compensation on a $400,000"},{"speaker":"Michael Lush","startTime":1681.829,"endTime":1686.839,"body":"mortgage, that can pay four or"},{"speaker":"Michael Lush","startTime":1686.839,"endTime":1691.519,"body":"five or $6,000 in compensation"},{"speaker":"Michael Lush","startTime":1686.839,"endTime":1691.519,"body":"to the loan officer, not to"},{"speaker":"Michael Lush","startTime":1691.519,"endTime":1696.289,"body":"mention probably 12,000 in"},{"speaker":"Michael Lush","startTime":1691.519,"endTime":1696.289,"body":"profit to the lender, right? So"},{"speaker":"Michael Lush","startTime":1696.289,"endTime":1698.659,"body":"what would you promote, you got"},{"speaker":"Michael Lush","startTime":1696.289,"endTime":1698.659,"body":"to put food on the table so"},{"speaker":"Michael Lush","startTime":1698.659,"endTime":1701.719,"body":"don't expect the bankers to know"},{"speaker":"Michael Lush","startTime":1698.659,"endTime":1701.719,"body":"this because the banks aren't"},{"speaker":"Michael Lush","startTime":1701.719,"endTime":1705.649,"body":"going to tell the bankers"},{"speaker":"Michael Lush","startTime":1701.719,"endTime":1705.649,"body":"educate the consumers on a"},{"speaker":"Michael Lush","startTime":1705.649,"endTime":1708.529,"body":"loophole is going to have them"},{"speaker":"Michael Lush","startTime":1705.649,"endTime":1708.529,"body":"paying a fraction of the"},{"speaker":"Michael Lush","startTime":1708.529,"endTime":1710.899,"body":"interest back to us that they"},{"speaker":"Michael Lush","startTime":1708.529,"endTime":1710.899,"body":"would own a mortgage Oh, by the"},{"speaker":"Michael Lush","startTime":1710.899,"endTime":1713.929,"body":"way, we're also not going to get"},{"speaker":"Michael Lush","startTime":1710.899,"endTime":1713.929,"body":"their deposit accounts. And you"},{"speaker":"Michael Lush","startTime":1713.929,"endTime":1716.509,"body":"know, that's the other half of"},{"speaker":"Michael Lush","startTime":1713.929,"endTime":1716.509,"body":"our business people think that"},{"speaker":"Michael Lush","startTime":1716.509,"endTime":1719.899,"body":"we only educate consumers which"},{"speaker":"Michael Lush","startTime":1716.509,"endTime":1719.899,"body":"is the bulk of our business, but"},{"speaker":"Michael Lush","startTime":1719.899,"endTime":1724.429,"body":"we also educate banks. So we"},{"speaker":"Michael Lush","startTime":1719.899,"endTime":1724.429,"body":"show banks a consumer friendly"},{"speaker":"Michael Lush","startTime":1724.429,"endTime":1728.569,"body":"way to do this, but also benefit"},{"speaker":"Michael Lush","startTime":1724.429,"endTime":1728.569,"body":"the balance sheet of the bank"},{"speaker":"Michael Lush","startTime":1728.749,"endTime":1731.629,"body":"that way it's a win win win and"},{"speaker":"Michael Lush","startTime":1728.749,"endTime":1731.629,"body":"that helps banks promote it now"},{"speaker":"Michael Lush","startTime":1731.629,"endTime":1734.389,"body":"that's a tall order and you"},{"speaker":"Michael Lush","startTime":1731.629,"endTime":1734.389,"body":"know, we've we've gone through"},{"speaker":"Michael Lush","startTime":1734.389,"endTime":1737.779,"body":"1000s of relationships and there"},{"speaker":"Michael Lush","startTime":1734.389,"endTime":1737.779,"body":"are some banks that have really"},{"speaker":"Michael Lush","startTime":1737.779,"endTime":1740.839,"body":"taken this on and said yep, this"},{"speaker":"Michael Lush","startTime":1737.779,"endTime":1740.839,"body":"is what we want to do. And we're"},{"speaker":"Michael Lush","startTime":1740.839,"endTime":1743.869,"body":"building programs around this"},{"speaker":"Michael Lush","startTime":1740.839,"endTime":1743.869,"body":"message in this strategy because"},{"speaker":"Michael Lush","startTime":1743.899,"endTime":1745.309,"body":"you just can't dispute the math"},{"speaker":"Average Joe Finances","startTime":1745.79,"endTime":1748.97,"body":"right on"},{"speaker":"Average Joe Finances","startTime":1745.79,"endTime":1748.97,"body":"so what about what about"},{"speaker":"Average Joe Finances","startTime":1748.97,"endTime":1753.23,"body":"somebody? People go through many"},{"speaker":"Average Joe Finances","startTime":1748.97,"endTime":1753.23,"body":"things right? You saw what"},{"speaker":"Average Joe Finances","startTime":1753.23,"endTime":1757.37,"body":"happened in 2008 with with the"},{"speaker":"Average Joe Finances","startTime":1753.23,"endTime":1757.37,"body":"mortgage crisis and what"},{"speaker":"Average Joe Finances","startTime":1757.37,"endTime":1761.27,"body":"happened with real estate what"},{"speaker":"Average Joe Finances","startTime":1757.37,"endTime":1761.27,"body":"what if somebody is in a"},{"speaker":"Average Joe Finances","startTime":1761.27,"endTime":1763.7,"body":"situation you know, cuz a lot of"},{"speaker":"Average Joe Finances","startTime":1761.27,"endTime":1763.7,"body":"people that listen to my show"},{"speaker":"Average Joe Finances","startTime":1763.73,"endTime":1767.72,"body":"that their focus is to get out"},{"speaker":"Average Joe Finances","startTime":1763.73,"endTime":1767.72,"body":"of debt and start saving up so"},{"speaker":"Average Joe Finances","startTime":1767.72,"endTime":1771.29,"body":"they can you know, buy their"},{"speaker":"Average Joe Finances","startTime":1767.72,"endTime":1771.29,"body":"initial home, or you know,"},{"speaker":"Average Joe Finances","startTime":1771.32,"endTime":1775.19,"body":"invest in real estate, buy some"},{"speaker":"Average Joe Finances","startTime":1771.32,"endTime":1775.19,"body":"more real estate, right? So what"},{"speaker":"Average Joe Finances","startTime":1775.19,"endTime":1778.94,"body":"happens to somebody you because"},{"speaker":"Average Joe Finances","startTime":1775.19,"endTime":1778.94,"body":"we always recommend having, you"},{"speaker":"Average Joe Finances","startTime":1778.94,"endTime":1782.51,"body":"know, three to six months of an"},{"speaker":"Average Joe Finances","startTime":1778.94,"endTime":1782.51,"body":"emergency fund a loss of income."},{"speaker":"Average Joe Finances","startTime":1782.93,"endTime":1785.72,"body":"So when somebody is in a"},{"speaker":"Average Joe Finances","startTime":1782.93,"endTime":1785.72,"body":"situation where they're they're"},{"speaker":"Average Joe Finances","startTime":1785.72,"endTime":1790.28,"body":"doing this strategy, and they"},{"speaker":"Average Joe Finances","startTime":1785.72,"endTime":1790.28,"body":"lose their job or you know,"},{"speaker":"Average Joe Finances","startTime":1790.28,"endTime":1792.98,"body":"whatever, there's some type of"},{"speaker":"Average Joe Finances","startTime":1790.28,"endTime":1792.98,"body":"emergency and the loser income"},{"speaker":"Average Joe Finances","startTime":1793.34,"endTime":1795.83,"body":"for a few months, what would"},{"speaker":"Average Joe Finances","startTime":1793.34,"endTime":1795.83,"body":"happen to someone in that"},{"speaker":"Average Joe Finances","startTime":1795.83,"endTime":1796.49,"body":"situation?"},{"speaker":"Michael Lush","startTime":1796.52,"endTime":1798.89,"body":"Great question."},{"speaker":"Michael Lush","startTime":1796.52,"endTime":1798.89,"body":"And in fact that we just went"},{"speaker":"Michael Lush","startTime":1798.89,"endTime":1803.33,"body":"through Not 2008 I didn't have a"},{"speaker":"Michael Lush","startTime":1798.89,"endTime":1803.33,"body":"business in 2008. But we had"},{"speaker":"Michael Lush","startTime":1803.33,"endTime":1806.75,"body":"something that was similar in"},{"speaker":"Michael Lush","startTime":1803.33,"endTime":1806.75,"body":"2008, we had a crisis, right? So"},{"speaker":"Michael Lush","startTime":1806.75,"endTime":1810.41,"body":"COVID-19. So lots of"},{"speaker":"Michael Lush","startTime":1806.75,"endTime":1810.41,"body":"unemployment, right, a lot of"},{"speaker":"Michael Lush","startTime":1810.41,"endTime":1815.69,"body":"folks lost their job furloughed."},{"speaker":"Michael Lush","startTime":1810.41,"endTime":1815.69,"body":"Even that, so we had about a"},{"speaker":"Michael Lush","startTime":1815.69,"endTime":1819.29,"body":"dozen clients that we had had"},{"speaker":"Michael Lush","startTime":1815.69,"endTime":1819.29,"body":"for three or four years. And"},{"speaker":"Michael Lush","startTime":1819.32,"endTime":1822.86,"body":"those things happen, right? Life"},{"speaker":"Michael Lush","startTime":1819.32,"endTime":1822.86,"body":"happens. So this isn't just a"},{"speaker":"Michael Lush","startTime":1822.86,"endTime":1827.45,"body":"strategy that can be amazing in"},{"speaker":"Michael Lush","startTime":1822.86,"endTime":1827.45,"body":"times this are thriving, it can"},{"speaker":"Michael Lush","startTime":1827.45,"endTime":1831.14,"body":"also be a great strategy when"},{"speaker":"Michael Lush","startTime":1827.45,"endTime":1831.14,"body":"you need to survive. So think"},{"speaker":"Michael Lush","startTime":1831.14,"endTime":1834.23,"body":"about it this way. And I'll get"},{"speaker":"Michael Lush","startTime":1831.14,"endTime":1834.23,"body":"into the hedge fund balance"},{"speaker":"Michael Lush","startTime":1834.23,"endTime":1836.99,"body":"sheet statistics and default"},{"speaker":"Michael Lush","startTime":1834.23,"endTime":1836.99,"body":"rates on mortgages versus"},{"speaker":"Michael Lush","startTime":1836.99,"endTime":1839.15,"body":"Firstly, he walks here a little"},{"speaker":"Michael Lush","startTime":1836.99,"endTime":1839.15,"body":"bit, but once I explain this,"},{"speaker":"Michael Lush","startTime":1839.15,"endTime":1842.24,"body":"you'll know why the default"},{"speaker":"Michael Lush","startTime":1839.15,"endTime":1842.24,"body":"rates on first lien he locks is"},{"speaker":"Michael Lush","startTime":1842.24,"endTime":1847.4,"body":"115 times lower than mortgages"},{"speaker":"Michael Lush","startTime":1842.24,"endTime":1847.4,"body":"during the 2008 2009 crash. So"},{"speaker":"Michael Lush","startTime":1847.4,"endTime":1849.14,"body":"let's say you got a HELOC,"},{"speaker":"Michael Lush","startTime":1847.4,"endTime":1849.14,"body":"you've been practicing the"},{"speaker":"Michael Lush","startTime":1849.14,"endTime":1853.16,"body":"strategy for two or three years."},{"speaker":"Michael Lush","startTime":1849.14,"endTime":1853.16,"body":"And you go from a $300,000"},{"speaker":"Michael Lush","startTime":1853.16,"endTime":1856.25,"body":"balance to 150. Because our"},{"speaker":"Michael Lush","startTime":1853.16,"endTime":1856.25,"body":"average client pays our home off"},{"speaker":"Michael Lush","startTime":1856.25,"endTime":1860.54,"body":"and are paying pay their home"},{"speaker":"Michael Lush","startTime":1856.25,"endTime":1860.54,"body":"off in five years. So half of"},{"speaker":"Michael Lush","startTime":1860.54,"endTime":1864.5,"body":"your balance is paid off in two"},{"speaker":"Michael Lush","startTime":1860.54,"endTime":1864.5,"body":"or three years. So you still"},{"speaker":"Michael Lush","startTime":1864.5,"endTime":1868.49,"body":"have access to the 300,000. You"},{"speaker":"Michael Lush","startTime":1864.5,"endTime":1868.49,"body":"don't have to get reapproved you"},{"speaker":"Michael Lush","startTime":1868.49,"endTime":1871.73,"body":"don't have to get income"},{"speaker":"Michael Lush","startTime":1868.49,"endTime":1871.73,"body":"qualified to access your equity."},{"speaker":"Michael Lush","startTime":1872.03,"endTime":1875.45,"body":"If they're 24, seven, so if you"},{"speaker":"Michael Lush","startTime":1872.03,"endTime":1875.45,"body":"have 300,000, you paid half of"},{"speaker":"Michael Lush","startTime":1875.45,"endTime":1879.35,"body":"it all, your balance is 150. But"},{"speaker":"Michael Lush","startTime":1875.45,"endTime":1879.35,"body":"you still have access to 150. No"},{"speaker":"Michael Lush","startTime":1879.35,"endTime":1881.72,"body":"different than a credit card,"},{"speaker":"Michael Lush","startTime":1879.35,"endTime":1881.72,"body":"right? If you have a credit card"},{"speaker":"Michael Lush","startTime":1881.72,"endTime":1884.66,"body":"that has a limit of 10 grand,"},{"speaker":"Michael Lush","startTime":1881.72,"endTime":1884.66,"body":"you paid half of it down, don't"},{"speaker":"Michael Lush","startTime":1884.66,"endTime":1887.33,"body":"you have access to another five"},{"speaker":"Michael Lush","startTime":1884.66,"endTime":1887.33,"body":"grand? Absolutely. So it's the"},{"speaker":"Michael Lush","startTime":1887.33,"endTime":1890.99,"body":"exact same thing with a home"},{"speaker":"Michael Lush","startTime":1887.33,"endTime":1890.99,"body":"equity line of credit. And a lot"},{"speaker":"Michael Lush","startTime":1890.99,"endTime":1894.29,"body":"of these ebooks not all but a"},{"speaker":"Michael Lush","startTime":1890.99,"endTime":1894.29,"body":"lot of these e logs, you don't"},{"speaker":"Michael Lush","startTime":1894.29,"endTime":1898.49,"body":"even have to make a payment to."},{"speaker":"Michael Lush","startTime":1894.29,"endTime":1898.49,"body":"So if you're struggling, and"},{"speaker":"Michael Lush","startTime":1898.49,"endTime":1903.26,"body":"you've had a loss of income, or"},{"speaker":"Michael Lush","startTime":1898.49,"endTime":1903.26,"body":"complete loss of income, and"},{"speaker":"Michael Lush","startTime":1903.26,"endTime":1905.9,"body":"you've got a minimum payment on"},{"speaker":"Michael Lush","startTime":1903.26,"endTime":1905.9,"body":"that 150. So there are a number"},{"speaker":"Michael Lush","startTime":1905.9,"endTime":1909.71,"body":"one, you know, weigh the pros"},{"speaker":"Michael Lush","startTime":1905.9,"endTime":1909.71,"body":"and cons. If I have a loss of"},{"speaker":"Michael Lush","startTime":1909.71,"endTime":1912.86,"body":"income, do I want a payment on"},{"speaker":"Michael Lush","startTime":1909.71,"endTime":1912.86,"body":"the lock? Which is interest only"},{"speaker":"Michael Lush","startTime":1912.89,"endTime":1917.33,"body":"on the new balance? Or do I want"},{"speaker":"Michael Lush","startTime":1912.89,"endTime":1917.33,"body":"a mortgage is pressable an"},{"speaker":"Michael Lush","startTime":1917.33,"endTime":1921.26,"body":"interest payment on the original"},{"speaker":"Michael Lush","startTime":1917.33,"endTime":1921.26,"body":"balance? Which one would I want,"},{"speaker":"Michael Lush","startTime":1921.29,"endTime":1923.33,"body":"I wouldn't want the lock, that's"},{"speaker":"Michael Lush","startTime":1921.29,"endTime":1923.33,"body":"going to give me more"},{"speaker":"Michael Lush","startTime":1923.33,"endTime":1926.66,"body":"flexibility, right? However, you"},{"speaker":"Michael Lush","startTime":1923.33,"endTime":1926.66,"body":"don't even have to make that"},{"speaker":"Michael Lush","startTime":1926.66,"endTime":1930.38,"body":"payment. Because a lot of these"},{"speaker":"Michael Lush","startTime":1926.66,"endTime":1930.38,"body":"he locks, they will make the"},{"speaker":"Michael Lush","startTime":1930.38,"endTime":1932.93,"body":"payment for you. So if you don't"},{"speaker":"Michael Lush","startTime":1930.38,"endTime":1932.93,"body":"make the payment, what they do"},{"speaker":"Michael Lush","startTime":1932.93,"endTime":1936.35,"body":"is they say okay, you are 150"},{"speaker":"Michael Lush","startTime":1932.93,"endTime":1936.35,"body":"the interest only portion was"},{"speaker":"Michael Lush","startTime":1936.35,"endTime":1941.93,"body":"500 bucks. So now you have"},{"speaker":"Michael Lush","startTime":1936.35,"endTime":1941.93,"body":"150 1500. So your own time until"},{"speaker":"Michael Lush","startTime":1941.93,"endTime":1946.37,"body":"the next month. Now if you have"},{"speaker":"Michael Lush","startTime":1941.93,"endTime":1946.37,"body":"a credit line of up to 300,000,"},{"speaker":"Michael Lush","startTime":1946.7,"endTime":1951.2,"body":"how many months Can you survive"},{"speaker":"Michael Lush","startTime":1946.7,"endTime":1951.2,"body":"doing that? A lot, quite a long"},{"speaker":"Michael Lush","startTime":1951.2,"endTime":1955.1,"body":"time. Now, it's not ideal. No"},{"speaker":"Michael Lush","startTime":1951.2,"endTime":1955.1,"body":"one would want that situation"},{"speaker":"Michael Lush","startTime":1955.1,"endTime":1958.16,"body":"because you want to completely"},{"speaker":"Michael Lush","startTime":1955.1,"endTime":1958.16,"body":"pay off your debt, and invest"},{"speaker":"Michael Lush","startTime":1958.16,"endTime":1961.01,"body":"and things of that nature. So"},{"speaker":"Michael Lush","startTime":1958.16,"endTime":1961.01,"body":"that's not ideal. But that's"},{"speaker":"Michael Lush","startTime":1961.04,"endTime":1964.97,"body":"that's the scenario that is"},{"speaker":"Michael Lush","startTime":1961.04,"endTime":1964.97,"body":"complete income elimination."},{"speaker":"Michael Lush","startTime":1965.09,"endTime":1969.38,"body":"However, some folks just had"},{"speaker":"Michael Lush","startTime":1965.09,"endTime":1969.38,"body":"income reduction. So they might"},{"speaker":"Michael Lush","startTime":1969.38,"endTime":1973.82,"body":"have been making four $6,000 a"},{"speaker":"Michael Lush","startTime":1969.38,"endTime":1973.82,"body":"month, instead of $6,000 a month"},{"speaker":"Michael Lush","startTime":1973.85,"endTime":1977.93,"body":"now they're making four, right?"},{"speaker":"Michael Lush","startTime":1973.85,"endTime":1977.93,"body":"So they're still earning income"},{"speaker":"Michael Lush","startTime":1978.17,"endTime":1980.84,"body":"with you are whatever income"},{"speaker":"Michael Lush","startTime":1978.17,"endTime":1980.84,"body":"you're earning should still go"},{"speaker":"Michael Lush","startTime":1980.84,"endTime":1983.51,"body":"into the home equity line of"},{"speaker":"Michael Lush","startTime":1980.84,"endTime":1983.51,"body":"credit. And we can run through"},{"speaker":"Michael Lush","startTime":1983.51,"endTime":1986.9,"body":"some mathematical scenarios"},{"speaker":"Michael Lush","startTime":1983.51,"endTime":1986.9,"body":"where even that still pays down"},{"speaker":"Michael Lush","startTime":1986.9,"endTime":1990.35,"body":"the principal on the home equity"},{"speaker":"Michael Lush","startTime":1986.9,"endTime":1990.35,"body":"line of credit allows you to"},{"speaker":"Michael Lush","startTime":1990.35,"endTime":1994.52,"body":"survive. So this is a scenario"},{"speaker":"Michael Lush","startTime":1990.35,"endTime":1994.52,"body":"where you know if you've got"},{"speaker":"Michael Lush","startTime":1994.52,"endTime":1997.79,"body":"enough access, and that's why I"},{"speaker":"Michael Lush","startTime":1994.52,"endTime":1997.79,"body":"tell folks, if you owe 400,000,"},{"speaker":"Michael Lush","startTime":1998.03,"endTime":2000.64,"body":"and you got a million dollar"},{"speaker":"Michael Lush","startTime":1998.03,"endTime":2000.64,"body":"home, they'll get a 90% loan to"},{"speaker":"Michael Lush","startTime":2000.64,"endTime":2003.34,"body":"value home equity line of"},{"speaker":"Michael Lush","startTime":2000.64,"endTime":2003.34,"body":"credit. Because that doesn't"},{"speaker":"Michael Lush","startTime":2003.34,"endTime":2006.1,"body":"mean you're going and getting a"},{"speaker":"Michael Lush","startTime":2003.34,"endTime":2006.1,"body":"900,000 loan, you're getting"},{"speaker":"Michael Lush","startTime":2006.16,"endTime":2010.54,"body":"access to 900,000, your balance"},{"speaker":"Michael Lush","startTime":2006.16,"endTime":2010.54,"body":"is still 400 you're only going"},{"speaker":"Michael Lush","startTime":2010.54,"endTime":2013.57,"body":"to pay interest on the 400 that"},{"speaker":"Michael Lush","startTime":2010.54,"endTime":2013.57,"body":"you've used, you won't pay"},{"speaker":"Michael Lush","startTime":2013.57,"endTime":2017.92,"body":"interest on the other 500 unless"},{"speaker":"Michael Lush","startTime":2013.57,"endTime":2017.92,"body":"you use it. So in times like"},{"speaker":"Michael Lush","startTime":2017.92,"endTime":2022.18,"body":"this, whether it's surviving or"},{"speaker":"Michael Lush","startTime":2017.92,"endTime":2022.18,"body":"an opportunity have access to"},{"speaker":"Michael Lush","startTime":2022.18,"endTime":2027.28,"body":"your equity. So that's why folks"},{"speaker":"Michael Lush","startTime":2022.18,"endTime":2027.28,"body":"in 2008 2009 those that had a"},{"speaker":"Michael Lush","startTime":2027.28,"endTime":2030.13,"body":"first lien position he locked,"},{"speaker":"Michael Lush","startTime":2027.28,"endTime":2030.13,"body":"it's not like they were"},{"speaker":"Michael Lush","startTime":2030.13,"endTime":2032.83,"body":"completely shielded from the"},{"speaker":"Michael Lush","startTime":2030.13,"endTime":2032.83,"body":"real estate market. You know,"},{"speaker":"Michael Lush","startTime":2032.86,"endTime":2036.4,"body":"they still lost their job, they"},{"speaker":"Michael Lush","startTime":2032.86,"endTime":2036.4,"body":"still had a loss of income. But"},{"speaker":"Michael Lush","startTime":2036.4,"endTime":2040.24,"body":"why is the default rates so low"},{"speaker":"Michael Lush","startTime":2036.4,"endTime":2040.24,"body":"on both a first lien HELOC"},{"speaker":"Michael Lush","startTime":2040.24,"endTime":2043.06,"body":"versus those who had a mortgage"},{"speaker":"Michael Lush","startTime":2040.24,"endTime":2043.06,"body":"because of that they can"},{"speaker":"Michael Lush","startTime":2043.06,"endTime":2045.85,"body":"leverage the equity to pay"},{"speaker":"Michael Lush","startTime":2043.06,"endTime":2045.85,"body":"itself but he lock can"},{"speaker":"Michael Lush","startTime":2045.85,"endTime":2048.79,"body":"cannibalize itself and start"},{"speaker":"Michael Lush","startTime":2045.85,"endTime":2048.79,"body":"paying itself and not only that"},{"speaker":"Michael Lush","startTime":2048.79,"endTime":2050.77,"body":"it can start paying your bills"},{"speaker":"Michael Lush","startTime":2048.79,"endTime":2050.77,"body":"for you too."},{"speaker":"Average Joe Finances","startTime":2050.96,"endTime":2053.93,"body":"Yeah, so I"},{"speaker":"Average Joe Finances","startTime":2050.96,"endTime":2053.93,"body":"see what you're saying because"},{"speaker":"Average Joe Finances","startTime":2053.93,"endTime":2057.98,"body":"like that's, you know, a great"},{"speaker":"Average Joe Finances","startTime":2053.93,"endTime":2057.98,"body":"way to also put yourself in a"},{"speaker":"Average Joe Finances","startTime":2057.98,"endTime":2061.28,"body":"situation like you know, if you"},{"speaker":"Average Joe Finances","startTime":2057.98,"endTime":2061.28,"body":"owed $400,000 on a million"},{"speaker":"Average Joe Finances","startTime":2061.28,"endTime":2065.36,"body":"dollar home, you know, you take"},{"speaker":"Average Joe Finances","startTime":2061.28,"endTime":2065.36,"body":"out a 90% loan to value HELOC. I"},{"speaker":"Average Joe Finances","startTime":2065.36,"endTime":2068.24,"body":"mean you're you're sitting there"},{"speaker":"Average Joe Finances","startTime":2065.36,"endTime":2068.24,"body":"with about you know, another"},{"speaker":"Average Joe Finances","startTime":2068.24,"endTime":2072.2,"body":"400,000 with that you could"},{"speaker":"Average Joe Finances","startTime":2068.24,"endTime":2072.2,"body":"potentially invest if you needed"},{"speaker":"Average Joe Finances","startTime":2072.2,"endTime":2076.25,"body":"to, right or if something came"},{"speaker":"Average Joe Finances","startTime":2072.2,"endTime":2076.25,"body":"up like an opportunity. Another"},{"speaker":"Average Joe Finances","startTime":2076.25,"endTime":2078.92,"body":"real estate opportunity came up"},{"speaker":"Average Joe Finances","startTime":2076.25,"endTime":2078.92,"body":"and you needed the cash for it."},{"speaker":"Average Joe Finances","startTime":2078.92,"endTime":2082.82,"body":"You've got it right. Yep, so"},{"speaker":"Average Joe Finances","startTime":2078.92,"endTime":2082.82,"body":"that's definitely interesting."},{"speaker":"Average Joe Finances","startTime":2082.82,"endTime":2086.18,"body":"Now, I don't know too much about"},{"speaker":"Average Joe Finances","startTime":2082.82,"endTime":2086.18,"body":"HELOC. So I was actually looking"},{"speaker":"Average Joe Finances","startTime":2086.18,"endTime":2090.98,"body":"at getting one here soon myself."},{"speaker":"Average Joe Finances","startTime":2086.18,"endTime":2090.98,"body":"But you know what I've been"},{"speaker":"Average Joe Finances","startTime":2090.98,"endTime":2093.92,"body":"looking at like the is the"},{"speaker":"Average Joe Finances","startTime":2090.98,"endTime":2093.92,"body":"different terms right? So the"},{"speaker":"Average Joe Finances","startTime":2093.92,"endTime":2098.72,"body":"one that I was looking at is you"},{"speaker":"Average Joe Finances","startTime":2093.92,"endTime":2098.72,"body":"can use it for the first 10"},{"speaker":"Average Joe Finances","startTime":2098.72,"endTime":2102.38,"body":"years but you have to pay it"},{"speaker":"Average Joe Finances","startTime":2098.72,"endTime":2102.38,"body":"back in 20 years is how that one"},{"speaker":"Average Joe Finances","startTime":2102.38,"endTime":2106.28,"body":"was particularly set up. And it"},{"speaker":"Average Joe Finances","startTime":2102.38,"endTime":2106.28,"body":"was actually offset loan to"},{"speaker":"Average Joe Finances","startTime":2106.28,"endTime":2108.41,"body":"value, which was really cool."},{"speaker":"Michael Lush","startTime":2109.19,"endTime":2112.61,"body":"Yeah. So that's"},{"speaker":"Michael Lush","startTime":2109.19,"endTime":2112.61,"body":"ballsy of that lender or that"},{"speaker":"Michael Lush","startTime":2112.61,"endTime":2117.02,"body":"bank? Yeah, I was COVID. That"},{"speaker":"Michael Lush","startTime":2112.61,"endTime":2117.02,"body":"was, I would say to Procore, it"},{"speaker":"Michael Lush","startTime":2117.02,"endTime":2120.44,"body":"was still a bit on the risky"},{"speaker":"Michael Lush","startTime":2117.02,"endTime":2120.44,"body":"side prior to COVID, post COVID."},{"speaker":"Michael Lush","startTime":2120.44,"endTime":2123.02,"body":"A lot of banks ration to back"},{"speaker":"Michael Lush","startTime":2120.44,"endTime":2123.02,"body":"how much they were willing to"},{"speaker":"Michael Lush","startTime":2123.02,"endTime":2125.45,"body":"lend on the C lock. So if you've"},{"speaker":"Michael Lush","startTime":2123.02,"endTime":2125.45,"body":"got one out there still willing"},{"speaker":"Michael Lush","startTime":2125.45,"endTime":2128.09,"body":"to do 100%? That's, that's"},{"speaker":"Michael Lush","startTime":2125.45,"endTime":2128.09,"body":"pretty good."},{"speaker":"Average Joe Finances","startTime":2128.65,"endTime":2130.9,"body":"Yeah,"},{"speaker":"Average Joe Finances","startTime":2128.65,"endTime":2130.9,"body":"yeah, it's a local bank out here"},{"speaker":"Average Joe Finances","startTime":2130.93,"endTime":2134.59,"body":"in Hawaii. So it was pretty"},{"speaker":"Average Joe Finances","startTime":2130.93,"endTime":2134.59,"body":"interesting. But I was actually"},{"speaker":"Average Joe Finances","startTime":2134.59,"endTime":2137.47,"body":"looking at that to just pull"},{"speaker":"Average Joe Finances","startTime":2134.59,"endTime":2137.47,"body":"some equity out of my primary"},{"speaker":"Average Joe Finances","startTime":2137.47,"endTime":2141.37,"body":"residence. But I'm really like,"},{"speaker":"Average Joe Finances","startTime":2137.47,"endTime":2141.37,"body":"kind of digging in right now and"},{"speaker":"Average Joe Finances","startTime":2141.37,"endTime":2144.28,"body":"into the strategy. And I'm"},{"speaker":"Average Joe Finances","startTime":2141.37,"endTime":2144.28,"body":"trying to work the equation in"},{"speaker":"Average Joe Finances","startTime":2144.28,"endTime":2147.22,"body":"my head. So I think I'm going to"},{"speaker":"Average Joe Finances","startTime":2144.28,"endTime":2147.22,"body":"talk to you a little bit more"},{"speaker":"Average Joe Finances","startTime":2147.22,"endTime":2148.24,"body":"after this. But"},{"speaker":"Michael Lush","startTime":2148.84,"endTime":2151.45,"body":"it's this way. I"},{"speaker":"Michael Lush","startTime":2148.84,"endTime":2151.45,"body":"mean, very interesting. Having"},{"speaker":"Michael Lush","startTime":2151.45,"endTime":2156.16,"body":"inflation, you talked about"},{"speaker":"Michael Lush","startTime":2151.45,"endTime":2156.16,"body":"borrowing to invest, right? It's"},{"speaker":"Michael Lush","startTime":2156.16,"endTime":2159.52,"body":"not, even if you've got one of"},{"speaker":"Michael Lush","startTime":2156.16,"endTime":2159.52,"body":"the worst investments out there,"},{"speaker":"Michael Lush","startTime":2160.06,"endTime":2163.12,"body":"you're still going to quadruple"},{"speaker":"Michael Lush","startTime":2160.06,"endTime":2163.12,"body":"your money, versus what you're"},{"speaker":"Michael Lush","startTime":2163.12,"endTime":2165.97,"body":"getting as far as equity in your"},{"speaker":"Michael Lush","startTime":2163.12,"endTime":2165.97,"body":"home, right? I mean, with"},{"speaker":"Michael Lush","startTime":2165.97,"endTime":2168.19,"body":"interest rates the way they are"},{"speaker":"Michael Lush","startTime":2165.97,"endTime":2168.19,"body":"right now. And they're not going"},{"speaker":"Michael Lush","startTime":2168.19,"endTime":2171.16,"body":"to stay this way. They are"},{"speaker":"Michael Lush","startTime":2168.19,"endTime":2171.16,"body":"eventually going to go up. But I"},{"speaker":"Michael Lush","startTime":2171.16,"endTime":2174.16,"body":"mean, hey, we're at the bottom."},{"speaker":"Michael Lush","startTime":2171.16,"endTime":2174.16,"body":"So even if they go up or coming"},{"speaker":"Michael Lush","startTime":2174.19,"endTime":2177.1,"body":"off of the bottom, they're still"},{"speaker":"Michael Lush","startTime":2174.19,"endTime":2177.1,"body":"going to be really low for years"},{"speaker":"Michael Lush","startTime":2177.1,"endTime":2182.35,"body":"to come. And then you tack on"},{"speaker":"Michael Lush","startTime":2177.1,"endTime":2182.35,"body":"the interest deductions for tax"},{"speaker":"Michael Lush","startTime":2182.35,"endTime":2185.41,"body":"deductions on the interest that"},{"speaker":"Michael Lush","startTime":2182.35,"endTime":2185.41,"body":"you're paying. You're almost"},{"speaker":"Michael Lush","startTime":2185.41,"endTime":2188.8,"body":"borrowing free money. Yeah. So"},{"speaker":"Michael Lush","startTime":2185.41,"endTime":2188.8,"body":"if you gave me money, and I"},{"speaker":"Michael Lush","startTime":2188.8,"endTime":2191.26,"body":"invested into something that had"},{"speaker":"Michael Lush","startTime":2188.8,"endTime":2191.26,"body":"a horrible rate of return, but"},{"speaker":"Michael Lush","startTime":2191.26,"endTime":2194.74,"body":"it did have a rate of return,"},{"speaker":"Michael Lush","startTime":2191.26,"endTime":2194.74,"body":"that's actually a great"},{"speaker":"Michael Lush","startTime":2194.74,"endTime":2199.24,"body":"investment. So why not borrow"},{"speaker":"Michael Lush","startTime":2194.74,"endTime":2199.24,"body":"almost free money during an"},{"speaker":"Michael Lush","startTime":2199.24,"endTime":2201.79,"body":"inflationary period to invest"},{"speaker":"Michael Lush","startTime":2199.24,"endTime":2201.79,"body":"in?"},{"speaker":"Average Joe Finances","startTime":2202.48,"endTime":2203.86,"body":"Well,"},{"speaker":"Average Joe Finances","startTime":2202.48,"endTime":2203.86,"body":"yeah, especially with the way"},{"speaker":"Average Joe Finances","startTime":2203.86,"endTime":2205.48,"body":"inflation is right now, you"},{"speaker":"Average Joe Finances","startTime":2203.86,"endTime":2205.48,"body":"know, what the announcement they"},{"speaker":"Average Joe Finances","startTime":2205.48,"endTime":2208.24,"body":"had the other day with it, you"},{"speaker":"Average Joe Finances","startTime":2205.48,"endTime":2208.24,"body":"know, this year, they're saying"},{"speaker":"Average Joe Finances","startTime":2208.24,"endTime":2213.19,"body":"it's 4%. I mean, right now, my"},{"speaker":"Average Joe Finances","startTime":2208.24,"endTime":2213.19,"body":"current mortgage is two and a"},{"speaker":"Average Joe Finances","startTime":2213.19,"endTime":2218.11,"body":"quarter percent after my last"},{"speaker":"Average Joe Finances","startTime":2213.19,"endTime":2218.11,"body":"refinance, and I'm, I'm making"},{"speaker":"Average Joe Finances","startTime":2218.11,"endTime":2223.66,"body":"pretty much 1.75% a year, just"},{"speaker":"Average Joe Finances","startTime":2218.11,"endTime":2223.66,"body":"because I have a mortgage this"},{"speaker":"Average Joe Finances","startTime":2223.66,"endTime":2226.6,"body":"low, so I'm actually making"},{"speaker":"Average Joe Finances","startTime":2223.66,"endTime":2226.6,"body":"money off the inflation, which"},{"speaker":"Average Joe Finances","startTime":2226.6,"endTime":2230.2,"body":"is kind of scary when you think"},{"speaker":"Average Joe Finances","startTime":2226.6,"endTime":2230.2,"body":"about it. Yeah, that's"},{"speaker":"Average Joe Finances","startTime":2230.2,"endTime":2234.91,"body":"definitely very interesting."},{"speaker":"Average Joe Finances","startTime":2230.2,"endTime":2234.91,"body":"Now, we kind of we briefly spoke"},{"speaker":"Average Joe Finances","startTime":2234.91,"endTime":2238.51,"body":"about this, right? And it was"},{"speaker":"Average Joe Finances","startTime":2234.91,"endTime":2238.51,"body":"when I, when I mentioned about"},{"speaker":"Average Joe Finances","startTime":2238.51,"endTime":2243.13,"body":"somebody taking that extra"},{"speaker":"Average Joe Finances","startTime":2238.51,"endTime":2243.13,"body":"equity in their line of credit"},{"speaker":"Average Joe Finances","startTime":2243.13,"endTime":2245.86,"body":"and using it to invest in more"},{"speaker":"Average Joe Finances","startTime":2243.13,"endTime":2245.86,"body":"real estate. Now, what if"},{"speaker":"Average Joe Finances","startTime":2245.86,"endTime":2249.85,"body":"somebody wanted to, instead of"},{"speaker":"Average Joe Finances","startTime":2245.86,"endTime":2249.85,"body":"their debt pay down, like, you"},{"speaker":"Average Joe Finances","startTime":2249.85,"endTime":2252.82,"body":"know, just keep everything"},{"speaker":"Average Joe Finances","startTime":2249.85,"endTime":2252.82,"body":"normal and keep making their"},{"speaker":"Average Joe Finances","startTime":2252.82,"endTime":2256.21,"body":"payments? But they want to take"},{"speaker":"Average Joe Finances","startTime":2252.82,"endTime":2256.21,"body":"a large chunk of that equity?"},{"speaker":"Average Joe Finances","startTime":2256.57,"endTime":2261.25,"body":"And strictly invest it? I know."},{"speaker":"Average Joe Finances","startTime":2256.57,"endTime":2261.25,"body":"You know, your strategy is"},{"speaker":"Average Joe Finances","startTime":2261.25,"endTime":2264.4,"body":"mostly to help people get their"},{"speaker":"Average Joe Finances","startTime":2261.25,"endTime":2264.4,"body":"homes paid down in five to seven"},{"speaker":"Average Joe Finances","startTime":2264.4,"endTime":2266.62,"body":"years, right? But what if"},{"speaker":"Average Joe Finances","startTime":2264.4,"endTime":2266.62,"body":"somebody says, Hey, I want to"},{"speaker":"Average Joe Finances","startTime":2266.62,"endTime":2269.89,"body":"pay my, I want to pay my home"},{"speaker":"Average Joe Finances","startTime":2266.62,"endTime":2269.89,"body":"down in 15 years, but I want to"},{"speaker":"Average Joe Finances","startTime":2269.89,"endTime":2273.91,"body":"invest, you know, this much per"},{"speaker":"Average Joe Finances","startTime":2269.89,"endTime":2273.91,"body":"year, is something like that"},{"speaker":"Average Joe Finances","startTime":2273.94,"endTime":2274.66,"body":"possible,"},{"speaker":"Michael Lush","startTime":2274.69,"endTime":2277.03,"body":"not only possible,"},{"speaker":"Michael Lush","startTime":2274.69,"endTime":2277.03,"body":"it's great. You know, and I"},{"speaker":"Michael Lush","startTime":2277.03,"endTime":2279.88,"body":"would also say why 15 years? It"},{"speaker":"Michael Lush","startTime":2277.03,"endTime":2279.88,"body":"depends on your life cycle,"},{"speaker":"Michael Lush","startTime":2279.88,"endTime":2282.85,"body":"right? Yep. You know, let's say"},{"speaker":"Michael Lush","startTime":2279.88,"endTime":2282.85,"body":"you got somebody 35 years old,"},{"speaker":"Michael Lush","startTime":2282.91,"endTime":2286.36,"body":"why pay off in 15 years,"},{"speaker":"Michael Lush","startTime":2282.91,"endTime":2286.36,"body":"depending on what the cost of"},{"speaker":"Michael Lush","startTime":2286.36,"endTime":2290.41,"body":"debt is, you know, 30 years from"},{"speaker":"Michael Lush","startTime":2286.36,"endTime":2290.41,"body":"now, but the cost is really low,"},{"speaker":"Michael Lush","startTime":2290.41,"endTime":2294.13,"body":"and it's been low. The last time"},{"speaker":"Michael Lush","startTime":2290.41,"endTime":2294.13,"body":"it was skyrocketed, and really"},{"speaker":"Michael Lush","startTime":2294.13,"endTime":2299.17,"body":"high was 1981. Okay, so that was"},{"speaker":"Michael Lush","startTime":2294.13,"endTime":2299.17,"body":"40 years ago, is when it comes"},{"speaker":"Michael Lush","startTime":2299.17,"endTime":2301.66,"body":"to walk rates and also mortgage"},{"speaker":"Michael Lush","startTime":2299.17,"endTime":2301.66,"body":"rates. That's the last time"},{"speaker":"Michael Lush","startTime":2301.66,"endTime":2305.5,"body":"rates were really, really high."},{"speaker":"Michael Lush","startTime":2301.66,"endTime":2305.5,"body":"Since 1981, it's been plummeting"},{"speaker":"Michael Lush","startTime":2305.53,"endTime":2310.0,"body":"ever since we've hit zero twice"},{"speaker":"Michael Lush","startTime":2305.53,"endTime":2310.0,"body":"now. Other countries went into"},{"speaker":"Michael Lush","startTime":2310.0,"endTime":2313.09,"body":"negative interest rate"},{"speaker":"Michael Lush","startTime":2310.0,"endTime":2313.09,"body":"territory. So I don't see that"},{"speaker":"Michael Lush","startTime":2313.09,"endTime":2316.42,"body":"changing. Yeah. Is it going to"},{"speaker":"Michael Lush","startTime":2313.09,"endTime":2316.42,"body":"fluctuate based on inflation"},{"speaker":"Michael Lush","startTime":2316.42,"endTime":2319.72,"body":"here, and they're absolutely but"},{"speaker":"Michael Lush","startTime":2316.42,"endTime":2319.72,"body":"REITs are going to be low. So"},{"speaker":"Michael Lush","startTime":2319.78,"endTime":2322.96,"body":"there's an argument to why even"},{"speaker":"Michael Lush","startTime":2319.78,"endTime":2322.96,"body":"pay it off. So think about it"},{"speaker":"Michael Lush","startTime":2322.96,"endTime":2325.45,"body":"this way. Let's say you've got"},{"speaker":"Michael Lush","startTime":2322.96,"endTime":2325.45,"body":"access to equity in your home."},{"speaker":"Michael Lush","startTime":2326.11,"endTime":2329.56,"body":"And you leverage that equity to"},{"speaker":"Michael Lush","startTime":2326.11,"endTime":2329.56,"body":"go buy real estate, right? At"},{"speaker":"Michael Lush","startTime":2329.56,"endTime":2332.98,"body":"the cash flow asset? Well,"},{"speaker":"Michael Lush","startTime":2329.56,"endTime":2332.98,"body":"you're buying real estate that"},{"speaker":"Michael Lush","startTime":2332.98,"endTime":2335.47,"body":"is a cash flow asset. What does"},{"speaker":"Michael Lush","startTime":2332.98,"endTime":2335.47,"body":"that do? That increases your"},{"speaker":"Michael Lush","startTime":2335.47,"endTime":2338.59,"body":"monthly income, your monthly"},{"speaker":"Michael Lush","startTime":2335.47,"endTime":2338.59,"body":"income is going where it's going"},{"speaker":"Michael Lush","startTime":2338.59,"endTime":2342.25,"body":"into your house. So you actually"},{"speaker":"Michael Lush","startTime":2338.59,"endTime":2342.25,"body":"just accelerated the process of"},{"speaker":"Michael Lush","startTime":2342.25,"endTime":2344.92,"body":"paying down the equity because"},{"speaker":"Michael Lush","startTime":2342.25,"endTime":2344.92,"body":"your cash flows higher. Now you"},{"speaker":"Michael Lush","startTime":2344.92,"endTime":2347.14,"body":"can also get he locks on"},{"speaker":"Michael Lush","startTime":2344.92,"endTime":2347.14,"body":"investment properties. It's"},{"speaker":"Michael Lush","startTime":2347.14,"endTime":2349.9,"body":"rare, but you can there are"},{"speaker":"Michael Lush","startTime":2347.14,"endTime":2349.9,"body":"banks out there that do 80%"},{"speaker":"Michael Lush","startTime":2349.9,"endTime":2353.83,"body":"financing on a purchase. If you"},{"speaker":"Michael Lush","startTime":2349.9,"endTime":2353.83,"body":"want to buy a home starting out"},{"speaker":"Michael Lush","startTime":2353.83,"endTime":2357.37,"body":"with a HELOC not a mortgage. You"},{"speaker":"Michael Lush","startTime":2353.83,"endTime":2357.37,"body":"use there he lock on and say I'm"},{"speaker":"Michael Lush","startTime":2357.37,"endTime":2359.98,"body":"buying this home, you start out"},{"speaker":"Michael Lush","startTime":2357.37,"endTime":2359.98,"body":"with 20% down you've got a"},{"speaker":"Michael Lush","startTime":2359.98,"endTime":2363.85,"body":"rental property that's on an"},{"speaker":"Michael Lush","startTime":2359.98,"endTime":2363.85,"body":"interest only simple interest"},{"speaker":"Michael Lush","startTime":2363.85,"endTime":2365.98,"body":"interest only home equity line"},{"speaker":"Michael Lush","startTime":2363.85,"endTime":2365.98,"body":"of credit and first lien"},{"speaker":"Michael Lush","startTime":2365.98,"endTime":2368.98,"body":"position that now improves your"},{"speaker":"Michael Lush","startTime":2365.98,"endTime":2368.98,"body":"cash flow for that rental"},{"speaker":"Michael Lush","startTime":2368.98,"endTime":2372.82,"body":"property which improves your net"},{"speaker":"Michael Lush","startTime":2368.98,"endTime":2372.82,"body":"monthly income, which decreases"},{"speaker":"Michael Lush","startTime":2372.82,"endTime":2375.58,"body":"the balance at a more"},{"speaker":"Michael Lush","startTime":2372.82,"endTime":2375.58,"body":"accelerated fashion. And then"},{"speaker":"Michael Lush","startTime":2375.58,"endTime":2378.4,"body":"what do you do every time it's"},{"speaker":"Michael Lush","startTime":2375.58,"endTime":2378.4,"body":"accelerating? You find more"},{"speaker":"Michael Lush","startTime":2378.4,"endTime":2381.49,"body":"opportunities. So yeah, I didn't"},{"speaker":"Michael Lush","startTime":2378.4,"endTime":2381.49,"body":"know I mean, this is the Robert"},{"speaker":"Michael Lush","startTime":2381.49,"endTime":2384.34,"body":"Kiyosaki method. So when I say"},{"speaker":"Michael Lush","startTime":2381.49,"endTime":2384.34,"body":"you know pay your home off in"},{"speaker":"Michael Lush","startTime":2384.34,"endTime":2386.71,"body":"five to seven years, I'm gonna"},{"speaker":"Michael Lush","startTime":2384.34,"endTime":2386.71,"body":"be honest with a lot of folks"},{"speaker":"Michael Lush","startTime":2386.77,"endTime":2390.76,"body":"that the hook because some most"},{"speaker":"Michael Lush","startTime":2386.77,"endTime":2390.76,"body":"folks they just want to be debt"},{"speaker":"Michael Lush","startTime":2390.76,"endTime":2394.03,"body":"free, because they don't know"},{"speaker":"Michael Lush","startTime":2390.76,"endTime":2394.03,"body":"any better. However, once they"},{"speaker":"Michael Lush","startTime":2394.03,"endTime":2398.65,"body":"get into our strategy and our"},{"speaker":"Michael Lush","startTime":2394.03,"endTime":2398.65,"body":"education, they realize maybe"},{"speaker":"Michael Lush","startTime":2398.68,"endTime":2402.16,"body":"it's not right, the right Time"},{"speaker":"Michael Lush","startTime":2398.68,"endTime":2402.16,"body":"for me to be debt free. Maybe"},{"speaker":"Michael Lush","startTime":2402.16,"endTime":2406.18,"body":"it's time for me to accumulate"},{"speaker":"Michael Lush","startTime":2402.16,"endTime":2406.18,"body":"cash flow assets and then be"},{"speaker":"Michael Lush","startTime":2406.18,"endTime":2410.47,"body":"debt free later. So it's not an"},{"speaker":"Michael Lush","startTime":2406.18,"endTime":2410.47,"body":"either or situation. It can be a"},{"speaker":"Michael Lush","startTime":2410.47,"endTime":2410.86,"body":"both."},{"speaker":"Average Joe Finances","startTime":2411.08,"endTime":2413.51,"body":"Okay,"},{"speaker":"Average Joe Finances","startTime":2411.08,"endTime":2413.51,"body":"yeah. No, I like that. Yeah,"},{"speaker":"Average Joe Finances","startTime":2413.51,"endTime":2416.99,"body":"there's like that the the two"},{"speaker":"Average Joe Finances","startTime":2413.51,"endTime":2416.99,"body":"different types of mentalities,"},{"speaker":"Average Joe Finances","startTime":2416.99,"endTime":2420.89,"body":"right you have the Dave Ramsey"},{"speaker":"Average Joe Finances","startTime":2416.99,"endTime":2420.89,"body":"mentality where it's, you know,"},{"speaker":"Average Joe Finances","startTime":2420.89,"endTime":2425.12,"body":"all debts, bad debt, get rid of"},{"speaker":"Average Joe Finances","startTime":2420.89,"endTime":2425.12,"body":"it. And, you know, I want to be"},{"speaker":"Average Joe Finances","startTime":2425.12,"endTime":2428.57,"body":"at zero and then you have the"},{"speaker":"Average Joe Finances","startTime":2425.12,"endTime":2428.57,"body":"Kiyosaki method where it's like,"},{"speaker":"Average Joe Finances","startTime":2428.57,"endTime":2431.0,"body":"Hey, I'm going to leverage my"},{"speaker":"Average Joe Finances","startTime":2428.57,"endTime":2431.0,"body":"debt to buy more income"},{"speaker":"Average Joe Finances","startTime":2431.0,"endTime":2434.12,"body":"producing assets. That that's"},{"speaker":"Average Joe Finances","startTime":2431.0,"endTime":2434.12,"body":"kind of where my head's at, you"},{"speaker":"Average Joe Finances","startTime":2434.12,"endTime":2437.93,"body":"know, and probably most people"},{"speaker":"Average Joe Finances","startTime":2434.12,"endTime":2437.93,"body":"listening to my show. You know,"},{"speaker":"Average Joe Finances","startTime":2437.96,"endTime":2439.7,"body":"it's funny because I talk about"},{"speaker":"Average Joe Finances","startTime":2437.96,"endTime":2439.7,"body":"it,"},{"speaker":"Michael Lush","startTime":2439.7,"endTime":2443.96,"body":"and neither one of"},{"speaker":"Michael Lush","startTime":2439.7,"endTime":2443.96,"body":"them are wrong. Franklin, I'm in"},{"speaker":"Michael Lush","startTime":2443.96,"endTime":2446.48,"body":"Dave Ramsey's backyard,"},{"speaker":"Michael Lush","startTime":2443.96,"endTime":2446.48,"body":"actually, yeah, he's a member of"},{"speaker":"Michael Lush","startTime":2446.48,"endTime":2450.35,"body":"my church. So yeah, I know Dave"},{"speaker":"Michael Lush","startTime":2446.48,"endTime":2450.35,"body":"Ramsey. I actually taught"},{"speaker":"Michael Lush","startTime":2450.35,"endTime":2453.53,"body":"Financial Peace University in my"},{"speaker":"Michael Lush","startTime":2450.35,"endTime":2453.53,"body":"church. I understand his very"},{"speaker":"Michael Lush","startTime":2453.53,"endTime":2456.44,"body":"last week, but you have to"},{"speaker":"Michael Lush","startTime":2453.53,"endTime":2456.44,"body":"understand that they have two"},{"speaker":"Michael Lush","startTime":2456.44,"endTime":2460.52,"body":"different audiences. Dave Ramsey"},{"speaker":"Michael Lush","startTime":2456.44,"endTime":2460.52,"body":"is talking to hate to say it,"},{"speaker":"Michael Lush","startTime":2460.52,"endTime":2464.15,"body":"but it's true, a lower educated"},{"speaker":"Michael Lush","startTime":2460.52,"endTime":2464.15,"body":"and less disciplined audience,"},{"speaker":"Michael Lush","startTime":2464.18,"endTime":2467.6,"body":"right? And can you gain wealth"},{"speaker":"Michael Lush","startTime":2464.18,"endTime":2467.6,"body":"doing Dave Ramsey's method,"},{"speaker":"Michael Lush","startTime":2467.63,"endTime":2471.83,"body":"absolutely. slow and painful, it"},{"speaker":"Michael Lush","startTime":2467.63,"endTime":2471.83,"body":"hurts rice and beans, right? get"},{"speaker":"Michael Lush","startTime":2471.83,"endTime":2474.89,"body":"after it, like a user was long,"},{"speaker":"Michael Lush","startTime":2471.83,"endTime":2474.89,"body":"painful, but you can, it's going"},{"speaker":"Michael Lush","startTime":2474.89,"endTime":2477.77,"body":"to take longer mathematically,"},{"speaker":"Michael Lush","startTime":2474.89,"endTime":2477.77,"body":"Robert Kiyosaki is the faster"},{"speaker":"Michael Lush","startTime":2477.77,"endTime":2483.26,"body":"method. But his audience isn't"},{"speaker":"Michael Lush","startTime":2477.77,"endTime":2483.26,"body":"to a free radio show his"},{"speaker":"Michael Lush","startTime":2483.26,"endTime":2487.67,"body":"audience is to typically the top"},{"speaker":"Michael Lush","startTime":2483.26,"endTime":2487.67,"body":"three tax brackets, right? They"},{"speaker":"Michael Lush","startTime":2487.67,"endTime":2489.62,"body":"already get it, they already"},{"speaker":"Michael Lush","startTime":2487.67,"endTime":2489.62,"body":"mastered their budget, their"},{"speaker":"Michael Lush","startTime":2489.62,"endTime":2491.93,"body":"high income earners, they're"},{"speaker":"Michael Lush","startTime":2489.62,"endTime":2491.93,"body":"higher educated, and"},{"speaker":"Michael Lush","startTime":2491.96,"endTime":2495.23,"body":"mathematically, it's just a"},{"speaker":"Michael Lush","startTime":2491.96,"endTime":2495.23,"body":"faster method. So neither one of"},{"speaker":"Michael Lush","startTime":2495.23,"endTime":2498.17,"body":"them are wrong. It's just pick"},{"speaker":"Michael Lush","startTime":2495.23,"endTime":2498.17,"body":"which route you want to go."},{"speaker":"Average Joe Finances","startTime":2498.29,"endTime":2499.67,"body":"Yeah, I"},{"speaker":"Average Joe Finances","startTime":2498.29,"endTime":2499.67,"body":"mean, so like having a ton of"},{"speaker":"Average Joe Finances","startTime":2499.67,"endTime":2502.22,"body":"things. It's one of the things I"},{"speaker":"Average Joe Finances","startTime":2499.67,"endTime":2502.22,"body":"talked about, you know, early on"},{"speaker":"Average Joe Finances","startTime":2502.22,"endTime":2505.61,"body":"in my podcast, too, when I, when"},{"speaker":"Average Joe Finances","startTime":2502.22,"endTime":2505.61,"body":"I did a couple solo episodes I"},{"speaker":"Average Joe Finances","startTime":2505.61,"endTime":2508.88,"body":"was talking about, you know, I"},{"speaker":"Average Joe Finances","startTime":2505.61,"endTime":2508.88,"body":"followed Dave Ramsey's baby"},{"speaker":"Average Joe Finances","startTime":2508.88,"endTime":2511.85,"body":"steps, you know, steps one, two,"},{"speaker":"Average Joe Finances","startTime":2508.88,"endTime":2511.85,"body":"and three. And then after I got"},{"speaker":"Average Joe Finances","startTime":2511.85,"endTime":2514.28,"body":"to that point where I was debt"},{"speaker":"Average Joe Finances","startTime":2511.85,"endTime":2514.28,"body":"free, and the only debt I had"},{"speaker":"Average Joe Finances","startTime":2514.28,"endTime":2517.31,"body":"left was my mortgage. That's"},{"speaker":"Average Joe Finances","startTime":2514.28,"endTime":2517.31,"body":"when I started looking at, okay,"},{"speaker":"Average Joe Finances","startTime":2517.31,"endTime":2520.88,"body":"what can I do to invest my money"},{"speaker":"Average Joe Finances","startTime":2517.31,"endTime":2520.88,"body":"elsewhere and start, you know,"},{"speaker":"Average Joe Finances","startTime":2520.88,"endTime":2524.99,"body":"leveraging the debt that I have,"},{"speaker":"Average Joe Finances","startTime":2520.88,"endTime":2524.99,"body":"and, and buying more income"},{"speaker":"Average Joe Finances","startTime":2524.99,"endTime":2528.65,"body":"producing assets. So that's kind"},{"speaker":"Average Joe Finances","startTime":2524.99,"endTime":2528.65,"body":"of where my mentality shifted."},{"speaker":"Average Joe Finances","startTime":2528.89,"endTime":2532.31,"body":"So it's, you know, I say this,"},{"speaker":"Average Joe Finances","startTime":2528.89,"endTime":2532.31,"body":"because a lot of people that"},{"speaker":"Average Joe Finances","startTime":2532.31,"endTime":2535.31,"body":"listen to this show are people"},{"speaker":"Average Joe Finances","startTime":2532.31,"endTime":2535.31,"body":"that are looking to get out of"},{"speaker":"Average Joe Finances","startTime":2535.31,"endTime":2539.42,"body":"debt, right? They, or there's"},{"speaker":"Average Joe Finances","startTime":2535.31,"endTime":2539.42,"body":"people that have already gotten"},{"speaker":"Average Joe Finances","startTime":2539.42,"endTime":2541.82,"body":"to that point, they're like,"},{"speaker":"Average Joe Finances","startTime":2539.42,"endTime":2541.82,"body":"Hey, what do I do with my money?"},{"speaker":"Average Joe Finances","startTime":2542.15,"endTime":2545.33,"body":"So that's why I think this is a"},{"speaker":"Average Joe Finances","startTime":2542.15,"endTime":2545.33,"body":"very interesting strategy that"},{"speaker":"Average Joe Finances","startTime":2545.33,"endTime":2548.75,"body":"you can go into with either"},{"speaker":"Average Joe Finances","startTime":2545.33,"endTime":2548.75,"body":"mindset, right, depending on"},{"speaker":"Average Joe Finances","startTime":2548.75,"endTime":2550.91,"body":"what it is you want to do you"},{"speaker":"Average Joe Finances","startTime":2548.75,"endTime":2550.91,"body":"want to pay off your house in"},{"speaker":"Average Joe Finances","startTime":2550.91,"endTime":2553.94,"body":"five to seven years, awesome,"},{"speaker":"Average Joe Finances","startTime":2550.91,"endTime":2553.94,"body":"you can do that. You want to pay"},{"speaker":"Average Joe Finances","startTime":2553.94,"endTime":2557.33,"body":"it off in 30 years still, but"},{"speaker":"Average Joe Finances","startTime":2553.94,"endTime":2557.33,"body":"leverage that money to buy more"},{"speaker":"Average Joe Finances","startTime":2557.33,"endTime":2560.72,"body":"real estate? Sure, you can do"},{"speaker":"Average Joe Finances","startTime":2557.33,"endTime":2560.72,"body":"that. And that's what I think is"},{"speaker":"Average Joe Finances","startTime":2560.72,"endTime":2564.35,"body":"so interesting about this and"},{"speaker":"Average Joe Finances","startTime":2560.72,"endTime":2564.35,"body":"why I'm so excited to talk to"},{"speaker":"Average Joe Finances","startTime":2564.35,"endTime":2565.7,"body":"you about it's pretty cool, man."},{"speaker":"Michael Lush","startTime":2565.79,"endTime":2567.35,"body":"And I want to"},{"speaker":"Michael Lush","startTime":2565.79,"endTime":2567.35,"body":"answer that one question that"},{"speaker":"Michael Lush","startTime":2567.35,"endTime":2570.08,"body":"you started to ask was the the"},{"speaker":"Michael Lush","startTime":2567.35,"endTime":2570.08,"body":"lot that you're looking at as a"},{"speaker":"Michael Lush","startTime":2570.11,"endTime":2573.2,"body":"10 year drop period, followed by"},{"speaker":"Michael Lush","startTime":2570.11,"endTime":2573.2,"body":"a 20 year repayment period. So"},{"speaker":"Michael Lush","startTime":2573.2,"endTime":2576.11,"body":"what that means is you have full"},{"speaker":"Michael Lush","startTime":2573.2,"endTime":2576.11,"body":"access to the equity in your"},{"speaker":"Michael Lush","startTime":2576.11,"endTime":2579.56,"body":"home based on the original"},{"speaker":"Michael Lush","startTime":2576.11,"endTime":2579.56,"body":"contract, right? So if you"},{"speaker":"Michael Lush","startTime":2579.77,"endTime":2584.57,"body":"current homes by the three,"},{"speaker":"Michael Lush","startTime":2579.77,"endTime":2584.57,"body":"we're in Hawaii, 3 million. So"},{"speaker":"Michael Lush","startTime":2584.72,"endTime":2587.39,"body":"it's currently valued at 3"},{"speaker":"Michael Lush","startTime":2584.72,"endTime":2587.39,"body":"million and you got a line of"},{"speaker":"Michael Lush","startTime":2587.39,"endTime":2590.81,"body":"credit, today based on 3"},{"speaker":"Michael Lush","startTime":2587.39,"endTime":2590.81,"body":"million, well, then that's going"},{"speaker":"Michael Lush","startTime":2590.81,"endTime":2594.11,"body":"to be your line of credit for 10"},{"speaker":"Michael Lush","startTime":2590.81,"endTime":2594.11,"body":"years, unless you change the"},{"speaker":"Michael Lush","startTime":2594.11,"endTime":2598.19,"body":"contract right? Now, after 10"},{"speaker":"Michael Lush","startTime":2594.11,"endTime":2598.19,"body":"years, if you have a balance"},{"speaker":"Michael Lush","startTime":2598.19,"endTime":2601.07,"body":"still remaining than what the"},{"speaker":"Michael Lush","startTime":2598.19,"endTime":2601.07,"body":"bank is going to do is allocate"},{"speaker":"Michael Lush","startTime":2601.07,"endTime":2604.97,"body":"that mouse to now on a 20 year"},{"speaker":"Michael Lush","startTime":2601.07,"endTime":2604.97,"body":"mortgage. It's a it's a, it's a"},{"speaker":"Michael Lush","startTime":2604.97,"endTime":2607.16,"body":"closed down fill a simple"},{"speaker":"Michael Lush","startTime":2604.97,"endTime":2607.16,"body":"interest with the close in"},{"speaker":"Michael Lush","startTime":2607.16,"endTime":2610.94,"body":"product that requires you to pay"},{"speaker":"Michael Lush","startTime":2607.16,"endTime":2610.94,"body":"it off in an installment loan"},{"speaker":"Michael Lush","startTime":2610.94,"endTime":2615.68,"body":"fashion for the next 20 years."},{"speaker":"Michael Lush","startTime":2610.94,"endTime":2615.68,"body":"So how do we keep something like"},{"speaker":"Michael Lush","startTime":2615.68,"endTime":2618.17,"body":"that for 30 years, if there's"},{"speaker":"Michael Lush","startTime":2615.68,"endTime":2618.17,"body":"only a senior draw period, it's"},{"speaker":"Michael Lush","startTime":2618.17,"endTime":2621.11,"body":"real simple. Do what the"},{"speaker":"Michael Lush","startTime":2618.17,"endTime":2621.11,"body":"mortgage people do? refinance."},{"speaker":"Michael Lush","startTime":2621.44,"endTime":2623.3,"body":"And then 10 years from now, what"},{"speaker":"Michael Lush","startTime":2621.44,"endTime":2623.3,"body":"do you think the value of your"},{"speaker":"Michael Lush","startTime":2623.3,"endTime":2624.95,"body":"property is going to be? Higher?"},{"speaker":"Average Joe Finances","startTime":2625.07,"endTime":2627.32,"body":"Typically"},{"speaker":"Average Joe Finances","startTime":2625.07,"endTime":2627.32,"body":"higher in Hawaii typically"},{"speaker":"Average Joe Finances","startTime":2627.32,"endTime":2629.57,"body":"doubles every 10 years. So yeah."},{"speaker":"Michael Lush","startTime":2629.78,"endTime":2632.36,"body":"So now what do you"},{"speaker":"Michael Lush","startTime":2629.78,"endTime":2632.36,"body":"do in 10 years, you don't get"},{"speaker":"Michael Lush","startTime":2632.36,"endTime":2636.35,"body":"another he locks at the higher"},{"speaker":"Michael Lush","startTime":2632.36,"endTime":2636.35,"body":"valuation, and access to more"},{"speaker":"Michael Lush","startTime":2636.35,"endTime":2641.12,"body":"equity to go get more rental"},{"speaker":"Michael Lush","startTime":2636.35,"endTime":2641.12,"body":"properties. Maybe you get into"},{"speaker":"Michael Lush","startTime":2641.12,"endTime":2642.02,"body":"commercial at that point."},{"speaker":"Average Joe Finances","startTime":2642.35,"endTime":2644.42,"body":"I like it."},{"speaker":"Average Joe Finances","startTime":2642.35,"endTime":2644.42,"body":"Yeah. Oh, absolutely. Get into"},{"speaker":"Average Joe Finances","startTime":2644.42,"endTime":2647.18,"body":"commercial at that point. I'm"},{"speaker":"Average Joe Finances","startTime":2644.42,"endTime":2647.18,"body":"looking to get into commercial"},{"speaker":"Average Joe Finances","startTime":2647.18,"endTime":2647.66,"body":"right now."},{"speaker":"Michael Lush","startTime":2648.56,"endTime":2650.57,"body":"Yeah, more doors."},{"speaker":"Average Joe Finances","startTime":2650.75,"endTime":2653.57,"body":"Yeah."},{"speaker":"Average Joe Finances","startTime":2650.75,"endTime":2653.57,"body":"Awesome, man. Okay, cool. Hey,"},{"speaker":"Average Joe Finances","startTime":2653.6,"endTime":2657.17,"body":"this, this has been awesome."},{"speaker":"Average Joe Finances","startTime":2653.6,"endTime":2657.17,"body":"I've got a lot of great notes"},{"speaker":"Average Joe Finances","startTime":2657.17,"endTime":2660.26,"body":"here. And I think you answered"},{"speaker":"Average Joe Finances","startTime":2657.17,"endTime":2660.26,"body":"all the questions I wanted to"},{"speaker":"Average Joe Finances","startTime":2660.26,"endTime":2663.32,"body":"ask you. Um, yeah, I think I hit"},{"speaker":"Average Joe Finances","startTime":2660.26,"endTime":2663.32,"body":"about everything."},{"speaker":"Michael Lush","startTime":2663.94,"endTime":2665.5,"body":"I know, this is"},{"speaker":"Michael Lush","startTime":2663.94,"endTime":2665.5,"body":"something that you're looking"},{"speaker":"Michael Lush","startTime":2665.5,"endTime":2669.28,"body":"at. Yeah. So let's work one on"},{"speaker":"Michael Lush","startTime":2665.5,"endTime":2669.28,"body":"one. After this. And I want to I"},{"speaker":"Michael Lush","startTime":2669.28,"endTime":2671.8,"body":"want to work with you one on"},{"speaker":"Michael Lush","startTime":2669.28,"endTime":2671.8,"body":"one. I want to, you know, answer"},{"speaker":"Michael Lush","startTime":2671.8,"endTime":2674.71,"body":"any questions or concerns that"},{"speaker":"Michael Lush","startTime":2671.8,"endTime":2674.71,"body":"you have and help you with the"},{"speaker":"Michael Lush","startTime":2674.71,"endTime":2678.43,"body":"bank and mechanize and all that"},{"speaker":"Michael Lush","startTime":2674.71,"endTime":2678.43,"body":"to get you off on the right"},{"speaker":"Michael Lush","startTime":2678.43,"endTime":2679.18,"body":"path? Sure."},{"speaker":"Average Joe Finances","startTime":2679.17,"endTime":2680.16,"body":"Yeah. And"},{"speaker":"Average Joe Finances","startTime":2679.17,"endTime":2680.16,"body":"it's really interested in"},{"speaker":"Average Joe Finances","startTime":2680.16,"endTime":2684.69,"body":"chatting about that. Yeah. So"},{"speaker":"Average Joe Finances","startTime":2680.16,"endTime":2684.69,"body":"hey, real real quick. This one"},{"speaker":"Average Joe Finances","startTime":2684.69,"endTime":2687.42,"body":"of the things I like to ask"},{"speaker":"Average Joe Finances","startTime":2684.69,"endTime":2687.42,"body":"towards the end anyway, and"},{"speaker":"Average Joe Finances","startTime":2687.42,"endTime":2690.75,"body":"that's, you know, for my"},{"speaker":"Average Joe Finances","startTime":2687.42,"endTime":2690.75,"body":"listeners that are listening in"},{"speaker":"Average Joe Finances","startTime":2690.75,"endTime":2694.44,"body":"right now, and this is something"},{"speaker":"Average Joe Finances","startTime":2690.75,"endTime":2694.44,"body":"that interests them. Is there"},{"speaker":"Average Joe Finances","startTime":2694.44,"endTime":2697.86,"body":"anything like any last tips or"},{"speaker":"Average Joe Finances","startTime":2694.44,"endTime":2697.86,"body":"tricks that you would recommend"},{"speaker":"Average Joe Finances","startTime":2697.86,"endTime":2701.97,"body":"for them to look into? If this"},{"speaker":"Average Joe Finances","startTime":2697.86,"endTime":2701.97,"body":"is a strategy they'd like to"},{"speaker":"Average Joe Finances","startTime":2701.97,"endTime":2702.63,"body":"implement,"},{"speaker":"Michael Lush","startTime":2702.72,"endTime":2705.3,"body":"it's real simple."},{"speaker":"Michael Lush","startTime":2702.72,"endTime":2705.3,"body":"Go to replace your mortgage"},{"speaker":"Michael Lush","startTime":2705.33,"endTime":2709.23,"body":"calm, there's nowhere on our"},{"speaker":"Michael Lush","startTime":2705.33,"endTime":2709.23,"body":"website that we asked you for"},{"speaker":"Michael Lush","startTime":2709.23,"endTime":2713.73,"body":"money. Nowhere. We're always"},{"speaker":"Michael Lush","startTime":2709.23,"endTime":2713.73,"body":"giving free information. So if"},{"speaker":"Michael Lush","startTime":2713.73,"endTime":2716.52,"body":"you go to replace your mortgage"},{"speaker":"Michael Lush","startTime":2713.73,"endTime":2716.52,"body":"calm, there's a couple things"},{"speaker":"Michael Lush","startTime":2716.58,"endTime":2718.8,"body":"that are lots of videos on"},{"speaker":"Michael Lush","startTime":2716.58,"endTime":2718.8,"body":"there, you can go to YouTube, we"},{"speaker":"Michael Lush","startTime":2718.8,"endTime":2722.19,"body":"have even more videos on YouTube"},{"speaker":"Michael Lush","startTime":2718.8,"endTime":2722.19,"body":"at replace your mortgage YouTube"},{"speaker":"Michael Lush","startTime":2722.19,"endTime":2725.1,"body":"channel. But if you go to"},{"speaker":"Michael Lush","startTime":2722.19,"endTime":2725.1,"body":"replace your mortgage calm, the"},{"speaker":"Michael Lush","startTime":2725.1,"endTime":2728.04,"body":"only call to action after you"},{"speaker":"Michael Lush","startTime":2725.1,"endTime":2728.04,"body":"pre educated yourself, I've got"},{"speaker":"Michael Lush","startTime":2728.04,"endTime":2731.19,"body":"a free book on the subject. So"},{"speaker":"Michael Lush","startTime":2728.04,"endTime":2731.19,"body":"you can just download it tonight"},{"speaker":"Michael Lush","startTime":2731.25,"endTime":2734.4,"body":"and read it, no charge, no"},{"speaker":"Michael Lush","startTime":2731.25,"endTime":2734.4,"body":"shipping, nothing, just download"},{"speaker":"Michael Lush","startTime":2734.4,"endTime":2738.39,"body":"it. But after you've kind of"},{"speaker":"Michael Lush","startTime":2734.4,"endTime":2738.39,"body":"convinced yourself like, Okay,"},{"speaker":"Michael Lush","startTime":2738.39,"endTime":2741.36,"body":"this is something that I need to"},{"speaker":"Michael Lush","startTime":2738.39,"endTime":2741.36,"body":"look further into. I have a"},{"speaker":"Michael Lush","startTime":2741.45,"endTime":2744.6,"body":"sales path that almost works"},{"speaker":"Michael Lush","startTime":2741.45,"endTime":2744.6,"body":"around the clock. You book an"},{"speaker":"Michael Lush","startTime":2744.6,"endTime":2747.39,"body":"appointment that the only call"},{"speaker":"Michael Lush","startTime":2744.6,"endTime":2747.39,"body":"to action on our website is to"},{"speaker":"Michael Lush","startTime":2747.39,"endTime":2750.21,"body":"book an appointment with us and"},{"speaker":"Michael Lush","startTime":2747.39,"endTime":2750.21,"body":"it's a free appointment. And"},{"speaker":"Michael Lush","startTime":2750.21,"endTime":2754.17,"body":"what we do for 45 minutes is"},{"speaker":"Michael Lush","startTime":2750.21,"endTime":2754.17,"body":"look at your situation and see"},{"speaker":"Michael Lush","startTime":2754.17,"endTime":2756.78,"body":"if this is a good fit for you"},{"speaker":"Michael Lush","startTime":2754.17,"endTime":2756.78,"body":"because it's not and want to"},{"speaker":"Michael Lush","startTime":2757.11,"endTime":2761.07,"body":"break a lot of hearts here. This"},{"speaker":"Michael Lush","startTime":2757.11,"endTime":2761.07,"body":"isn't the right fit for 70% of"},{"speaker":"Michael Lush","startTime":2761.07,"endTime":2764.73,"body":"Americans. Why? Because most"},{"speaker":"Michael Lush","startTime":2761.07,"endTime":2764.73,"body":"Americans are living paycheck to"},{"speaker":"Michael Lush","startTime":2764.73,"endTime":2767.82,"body":"paycheck. And if you are living"},{"speaker":"Michael Lush","startTime":2764.73,"endTime":2767.82,"body":"paycheck to paycheck and haven't"},{"speaker":"Michael Lush","startTime":2767.82,"endTime":2770.49,"body":"mastered your budget, this is"},{"speaker":"Michael Lush","startTime":2767.82,"endTime":2770.49,"body":"not going to work for you. And"},{"speaker":"Michael Lush","startTime":2770.49,"endTime":2775.26,"body":"in fact, it could be detrimental"},{"speaker":"Michael Lush","startTime":2770.49,"endTime":2775.26,"body":"to you. There is no sidestep to"},{"speaker":"Michael Lush","startTime":2775.26,"endTime":2779.34,"body":"budgeting. You have to master"},{"speaker":"Michael Lush","startTime":2775.26,"endTime":2779.34,"body":"your own personal finances. Now"},{"speaker":"Michael Lush","startTime":2779.37,"endTime":2783.84,"body":"if you have and you got a 660"},{"speaker":"Michael Lush","startTime":2779.37,"endTime":2783.84,"body":"plus credit score 10% equity in"},{"speaker":"Michael Lush","startTime":2783.84,"endTime":2786.27,"body":"your home and you're cashflow"},{"speaker":"Michael Lush","startTime":2783.84,"endTime":2786.27,"body":"positive, meaning you've"},{"speaker":"Michael Lush","startTime":2786.27,"endTime":2788.49,"body":"mastered your budget. Well then"},{"speaker":"Michael Lush","startTime":2786.27,"endTime":2788.49,"body":"yeah, we'll tell you what your"},{"speaker":"Michael Lush","startTime":2788.49,"endTime":2791.04,"body":"options are and what it looks"},{"speaker":"Michael Lush","startTime":2788.49,"endTime":2791.04,"body":"like and when you're debt free"},{"speaker":"Michael Lush","startTime":2791.04,"endTime":2794.49,"body":"date, or what is your net worth"},{"speaker":"Michael Lush","startTime":2791.04,"endTime":2794.49,"body":"look like if you were to adopt"},{"speaker":"Michael Lush","startTime":2794.49,"endTime":2797.88,"body":"our various strategies to"},{"speaker":"Michael Lush","startTime":2794.49,"endTime":2797.88,"body":"gaining wealth, all of that is"},{"speaker":"Michael Lush","startTime":2797.88,"endTime":2798.27,"body":"free."},{"speaker":"Average Joe Finances","startTime":2798.36,"endTime":2800.43,"body":"Yeah, you"},{"speaker":"Average Joe Finances","startTime":2798.36,"endTime":2800.43,"body":"can't beat that. You know, free"},{"speaker":"Average Joe Finances","startTime":2800.46,"endTime":2802.56,"body":"free is my favorite price. And"},{"speaker":"Average Joe Finances","startTime":2800.46,"endTime":2802.56,"body":"I'm sure a lot of people"},{"speaker":"Average Joe Finances","startTime":2802.56,"endTime":2804.96,"body":"listening. It's their favorite"},{"speaker":"Average Joe Finances","startTime":2802.56,"endTime":2804.96,"body":"price, too. So yeah, let's say"},{"speaker":"Average Joe Finances","startTime":2804.96,"endTime":2808.47,"body":"you already mentioned your"},{"speaker":"Average Joe Finances","startTime":2804.96,"endTime":2808.47,"body":"website, but and I know you have"},{"speaker":"Average Joe Finances","startTime":2808.47,"endTime":2810.81,"body":"a YouTube channel too. Do you"},{"speaker":"Average Joe Finances","startTime":2808.47,"endTime":2810.81,"body":"have any other social media or"},{"speaker":"Average Joe Finances","startTime":2810.81,"endTime":2812.7,"body":"anything else like that, that"},{"speaker":"Average Joe Finances","startTime":2810.81,"endTime":2812.7,"body":"people can check out?"},{"speaker":"Michael Lush","startTime":2812.76,"endTime":2814.83,"body":"I'm terrible on"},{"speaker":"Michael Lush","startTime":2812.76,"endTime":2814.83,"body":"Instagram. If you go to my"},{"speaker":"Michael Lush","startTime":2814.83,"endTime":2818.91,"body":"Instagram, which is Michaellush"},{"speaker":"Michael Lush","startTime":2814.83,"endTime":2818.91,"body":"13 you're going to find stuff"},{"speaker":"Michael Lush","startTime":2818.91,"endTime":2821.19,"body":"like this where I'm deer"},{"speaker":"Michael Lush","startTime":2818.91,"endTime":2821.19,"body":"hunting, I'm hanging out with"},{"speaker":"Michael Lush","startTime":2821.19,"endTime":2825.03,"body":"family. So yeah, on Facebook,"},{"speaker":"Michael Lush","startTime":2821.19,"endTime":2825.03,"body":"I'm I wouldn't say all business,"},{"speaker":"Michael Lush","startTime":2825.03,"endTime":2828.96,"body":"but I'm mostly business on"},{"speaker":"Michael Lush","startTime":2825.03,"endTime":2828.96,"body":"Facebook, Instagram. I haven't"},{"speaker":"Michael Lush","startTime":2828.96,"endTime":2832.26,"body":"tackled that one yet. Or at"},{"speaker":"Michael Lush","startTime":2828.96,"endTime":2832.26,"body":"least my team hasn't. And I'm"},{"speaker":"Michael Lush","startTime":2832.26,"endTime":2835.89,"body":"the one posting on there. And it"},{"speaker":"Michael Lush","startTime":2832.26,"endTime":2835.89,"body":"shows because it's about family."},{"speaker":"Michael Lush","startTime":2835.89,"endTime":2839.16,"body":"It's about events. It's about"},{"speaker":"Michael Lush","startTime":2835.89,"endTime":2839.16,"body":"America, and it's about deer"},{"speaker":"Michael Lush","startTime":2839.16,"endTime":2839.49,"body":"hunting."},{"speaker":"Average Joe Finances","startTime":2839.77,"endTime":2842.71,"body":"Yeah, good"},{"speaker":"Average Joe Finances","startTime":2839.77,"endTime":2842.71,"body":"stuff, man. All right, so I'm"},{"speaker":"Average Joe Finances","startTime":2842.71,"endTime":2845.68,"body":"gonna make sure we have all"},{"speaker":"Average Joe Finances","startTime":2842.71,"endTime":2845.68,"body":"those links in our show notes,"},{"speaker":"Average Joe Finances","startTime":2845.8,"endTime":2849.46,"body":"including your YouTube channel,"},{"speaker":"Average Joe Finances","startTime":2845.8,"endTime":2849.46,"body":"your website, all that goodness,"},{"speaker":"Average Joe Finances","startTime":2850.06,"endTime":2853.27,"body":"just to make it easier for the"},{"speaker":"Average Joe Finances","startTime":2850.06,"endTime":2853.27,"body":"folks that are listening to copy"},{"speaker":"Average Joe Finances","startTime":2853.27,"endTime":2856.39,"body":"and paste or just click away."},{"speaker":"Average Joe Finances","startTime":2853.27,"endTime":2856.39,"body":"And go check out and see what"},{"speaker":"Average Joe Finances","startTime":2856.39,"endTime":2859.9,"body":"Michael wash is all about and"},{"speaker":"Average Joe Finances","startTime":2856.39,"endTime":2859.9,"body":"what his team's doing. And maybe"},{"speaker":"Average Joe Finances","startTime":2859.9,"endTime":2862.84,"body":"this might be a strategy that"},{"speaker":"Average Joe Finances","startTime":2859.9,"endTime":2862.84,"body":"might work for them. So pretty"},{"speaker":"Average Joe Finances","startTime":2862.84,"endTime":2866.83,"body":"excited man and excited to talk"},{"speaker":"Average Joe Finances","startTime":2862.84,"endTime":2866.83,"body":"to you after this. But"},{"speaker":"Average Joe Finances","startTime":2867.01,"endTime":2869.14,"body":"seriously, man, it was it was a"},{"speaker":"Average Joe Finances","startTime":2867.01,"endTime":2869.14,"body":"pleasure having you on the show"},{"speaker":"Average Joe Finances","startTime":2869.14,"endTime":2871.3,"body":"today. I really appreciate you"},{"speaker":"Average Joe Finances","startTime":2869.14,"endTime":2871.3,"body":"taking some time. Thanks"},{"speaker":"Michael Lush","startTime":2871.3,"endTime":2873.52,"body":"for having me."},{"speaker":"Michael Lush","startTime":2871.3,"endTime":2873.52,"body":"Nine o'clock where I'm at and"},{"speaker":"Michael Lush","startTime":2873.52,"endTime":2875.59,"body":"there's nothing better to do"},{"speaker":"Michael Lush","startTime":2873.52,"endTime":2875.59,"body":"other than sleep. So Thanks,"},{"speaker":"Michael Lush","startTime":2875.59,"endTime":2875.92,"body":"Mike."},{"speaker":"Average Joe Finances","startTime":2876.7,"endTime":2878.77,"body":"It's"},{"speaker":"Average Joe Finances","startTime":2876.7,"endTime":2878.77,"body":"almost 5pm here so it's all"},{"speaker":"Average Joe Finances","startTime":2878.77,"endTime":2879.76,"body":"good, actually."},{"speaker":"Michael Lush","startTime":2879.94,"endTime":2883.18,"body":"Yeah, it's almost"},{"speaker":"Michael Lush","startTime":2879.94,"endTime":2883.18,"body":"10 Yeah, there we go. I'm a"},{"speaker":"Michael Lush","startTime":2883.18,"endTime":2885.25,"body":"night owl. appreciate my thanks."},{"speaker":"Average Joe Finances","startTime":2885.57,"endTime":2888.75,"body":"Alright"},{"speaker":"Average Joe Finances","startTime":2885.57,"endTime":2888.75,"body":"take care. Thanks for listening"},{"speaker":"Average Joe Finances","startTime":2888.75,"endTime":2893.1,"body":"to the Average Joe Finances"},{"speaker":"Average Joe Finances","startTime":2888.75,"endTime":2893.1,"body":"podcast. Your source for beating"},{"speaker":"Average Joe Finances","startTime":2893.1,"endTime":2896.73,"body":"debt, saving money and investing"},{"speaker":"Average Joe Finances","startTime":2893.1,"endTime":2896.73,"body":"Learn more at"},{"speaker":"Average Joe Finances","startTime":2896.76,"endTime":2903.78,"body":"Averagejoefinances.com The"},{"speaker":"Average Joe Finances","startTime":2896.76,"endTime":2903.78,"body":"Average Joe Finances podcast is"},{"speaker":"Average Joe Finances","startTime":2903.78,"endTime":2907.68,"body":"for informational and"},{"speaker":"Average Joe Finances","startTime":2903.78,"endTime":2907.68,"body":"entertainment purposes only. Do"},{"speaker":"Average Joe Finances","startTime":2907.68,"endTime":2911.97,"body":"not use this for any real estate"},{"speaker":"Average Joe Finances","startTime":2907.68,"endTime":2911.97,"body":"for investment making decisions."}]}