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Episode 78: Building Cash Flow Assets with Jeff Smith

By Chris Cooper & Greg Strauch

Jeff Smith of Cannon CrossFit in Texas joins us on the show today. Before becoming involved with CrossFit, he was buying up buildings and holding them to develop cash flow assets. This is a super important episode as we discuss the keys to developing and growing your investments to include an array of options. Take notes and be sure to reach out to Jeff with any questions you may have! Jeff and I both highly recommend Rich Dad, Poor Dad by Robert Kiyosaki. In this Interview: What is a cash flow asset? The three ways that real estate investing makes you money The benefiting of getting started with an SBA loan Plus: Understanding how cheap it is to own your own building - this is the calculator tool I use (make sure you choose "blended" under "payment types" to determine the real monthly payment). Why you should buy and hold instead of buy and sell Are mutual funds the best investment choice for my portfolio? About Jeff: Jeff grew up in Illinois playing just about every sport possible. Following his collegiate football career he enlisted in the U.S. Army where he served as part of the 75th Ranger Regiment. Jeff was introduced to CrossFit by some of his buddies who were still in the military. It was an immediate fit for Jeff’s competitive drive and the community aspect allowed him to make numerous new friends following his move to Houston. When Jeff is not involved at his gym, he enjoys teaching and mentoring others for how to develop cash flow assets. Timeline: 1:31 – Jeff Smith Introduction 4:41 – What is a cash flow asset? 7:34 – The three ways that real estate investing makes you money 9:08 – What is the first step to buy your first building? 11:48 – The benefit of starting with an SBA (Small Business Association) Loan 13:30 – Understanding how cheap it is to own your building rather than rent. 15:52 – The ability to sublease your building and create extra cash flow 17:22 – Splitting your business into two separate assets 19:39 – Why are we recommending to buy and hold instead of buy and sell 22:05 – What percentage of a portfolio should be in cash flow assets 23:40 – Why mutual funds may not be the best investment choice 28:19 – Jeff’s experience investing in residential and commercial real estate 31:40 – Deciding between investing in residential versus commercial real estate 33:21 – Where to find a real estate investment group 35:00 – Investing in a franchise. Is it worth it? 38:05 – Investing in others with peer to peer investing 40:00 – Investing in the stock market via index funds 42:05 – Is it possible to turn your business into a passive income business 43:27 – At what stage does your time become too valuable to coach a class Contact Jeff: Jeff@cannoncrossfit.com http://www.cannoncrossfit.com/

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