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Brother, my jaw hit,

Muhammad.

How you doing, brother, my jaw hit?

I'm doing great by God's grace.

And I'm happy to be here with you, brother, resign.

Okay. Now, you're basically used to Texas.

And I'm born and raised in Houston, Texas.

So when I saw your information come to my guests,

be against portal,

I jumped on it immediately.

Tell me what you're doing down in Houston, Texas.

Brother, my jaw hit.

Well, we are committed to assisting people

in the personal financial space.

My expertise is both a real estate,

personal finance,

and insurance as well.

So we're helping young families,

or people in general,

you know, to get off to a fair start

and not duplicate those mistakes

that were originated by myself coming up

and trying to develop my personal financial portfolio.

Well, I always say,

you learn from your mistakes.

You put it out there first, brother, but jaw hit.

What were some of the mistakes you made

that you don't want us to make?

Give us a couple of them.

Well, let me start from the beginning.

I think, as I grew up,

the story was told to me,

my dad went to the military

and he was sending home checks

to help take care of the family.

At that time, you know,

they were extremely poor,

so it was a necessity.

And he's sending checks every month, every pay period.

When he got out of the military,

unbeknownst to him,

my grandmother, his mother,

never cashed any of those checks.

So she gave the money back to him,

and he used that to buy his first duplex

and that later foundation

for his financial future.

In mimicking fashion,

I joined the military,

but I didn't need to send checks.

We were in a different time.

Although I'm sure he would have taken my checks,

but you know,

I was saving the money,

and when I came home from the military,

my father helped me find my first duplex,

and it was from that duplex

that was the launching pad.

I got married a few years later.

I identified this thing called equity.

I pulled out over $20,000 in equity,

and I immediately started,

they called it the birth technique.

Back then there was no bird,

there was no YouTube,

and everything like that.

But we essentially,

I was buying real estate, renovating it,

renting it out,

refining it, refinancing it,

renting it out,

that whole bird met it.

So we did that,

and to amass the million-dollar portfolio,

I thought I had enough to leave my W2 job.

I left the W2 job,

three months later,

Hurricane Katrina hit the New Orleans area,

and at that time,

a nun of my portfolio was there.

What year was that?

Just remind everybody,

the year of Hurricane Katrina.

2005.

2005.

Yes, sir.

At that time,

I wasn't covered.

It wasn't required.

A devastation like that never happened before,

so there was no flood insurance,

so we literally had these decimated properties

with no money to repair it.

And I remember being on a phone

with one of the,

I was in the middle of a renovation at that time,

and the lender was chiding me.

He was like,

look, I need you to get back on it

and rebuild this property and rent it out.

I'm like,

I don't think you understand.

It's not my property.

There's no houses for blocks and blocks.

The whole community was gone.

So that level of devastation

was really unfathomable to all parties involved.

So after suffering that,

went to Houston to try to regroup.

And I said,

I'm going to come back and recommit

to build in my portfolio.

And then in 2008,

Lauren Behold,

we know what happened with the real estate market.

And that was kind of like the nail

that kind of sealed the coffin.

So from there,

I kind of hit myself over the head

with that invisible hammer.

I was blaming myself,

thinking I wasn't what I thought I was.

And for several years,

I just went on

and thought I was a failure

as it relates in the financial space.

But there was a unique,

unique circumstance

that turned things around.

You know, I got a phone call

from my wife.

We had one car at the time.

And I was at work.

And she said,

she said,

Betty turned off the water.

So I moved some things around.

I said,

look, go pay this water bill.

So she literally walked

to the utility company

to pay that water bill

before the children could come back home

and realize what had happened.

Uh-huh.

And I remember looking

at my wife in the face

and I said,

back,

this next chapter of our life,

I promise you,

we're going to have a lot of problems,

but it won't be a financial one.

And so I committed myself

to turning our situation around.

And that was the impetus

to where I knew I needed

to do something different.

And that's really,

really the motivator

for helping other families

to not experience

that experience that I felt

in that moment.

What year was that?

Brother Majahid.

So he had 2008,

uh,

was the crash

from the collapse

of the home mortgage.

Right.

I was collapsing

in the middle of Katrina.

2008 collapsed

with their home mortgages.

Yeah.

And then you had at least,

at least seven years

that I was just doing ins

and out,

I think I drove,

yeah, I brought over this.

So yeah.

So what's seven on top

of 2008,

2015?

Okay.

So yeah,

I was in that area at this point.

Okay.

Cool.

So now the next ten years,

you got a plan in place.

Absolutely.

Okay.

And what was that plan?

And why did you feel the need

to the,

because you know,

you already messed up

in New Orleans.

Didn't have,

did properties got washed away

by Mother Nature.

Hurricane Katrina.

Why would you go back

in the real estate

after that level of devastation,

brother Majahid?

Well, he is what I learned.

And I think a lot of times

in our community,

we tried to lead with business,

looking for business to solve

our personal financial situation.

And the light bulb that came up

with me is that if you solve

your personal financial situation,

you can grow organically

and come to the market

in a different way.

So I prefer to come to the market

as a well-capitalized investor,

as opposed to an undercapitalized investor.

And when you prioritize your personal finance,

act your wage

and grow according to stage by stage,

you'll eventually reach a point

to where you can come to the market

and be more productive.

Because the biggest,

biggest lesson I learned

was that leverage

without liquidity

is duplicity.

And so at that time,

I was real estate rich

but cash poor.

And so I,

coming around a second time,

I over-infocides

and controlling my personal financial situation

so that I can approach the market

from a totally different perspective.

So basically maintaining control

with a plan.

Absolutely.

So most people get out there.

And I would tell you,

when I first opened my first business,

I just had a dream.

I didn't have a plan.

I didn't know the severity

of what taxes were.

I didn't know understanding

my employees,

work with these conferences.

There need to be applied,

work with the conversation,

liability,

all E&O,

if you're into advertisement,

all those things

on top, on top,

to stay in business,

legitimately.

That's what you learn

into all of this.

That's right.

You were in business,

but you were not in business

because you got taken away

because you didn't have all

the necessary safeguards

in place.

Absolutely.

Now, with 2015,

you contacted me and said,

Risham,

I won't tell everybody about me.

I'm a personal finance coach.

My business is wealth coaching stratosphere.

What is wealth coaching stratosphere?

The term stratosphere

is pretty much a metaphor.

What we've done is we've identified

five areas of financial development

and the lowest being financial failure.

That's when you have more money

than month,

the least desirable stratosphere

you want to be in.

But the next is financial health.

That's where most of us find ourselves

paycheck to paycheck.

We're able to meet those obligations.

And the next stratosphere

is financial fluency.

That's what things get better

when you have more money than month.

And then you graduate to financial wealth.

And the difference between wealth and fluency

is the accumulation of income-producing assets

until finally you grow into financial independence

where your money is making money.

So, what each one of those stratosphere

is a diameter of thought

that you're terming the term.

It should be five.

It's five stratosphere.

Repeat them again.

Financial failure.

Financial health.

Financial fluency.

Financial wealth.

And financial independence.

There you go.

Yes sir.

I missed that count.

Yeah.

So, it started financial failure

because that's where a lot of people are.

I've been there.

You know, the reality.

That's where a lot of people get

to the next step is homeless.

You know, pride comes in the play.

You don't have a plan to get out of that spiral.

Why do the average person

live in that financial failure status

or find themselves descending

into that financial failure status?

I think some of the major contributors

is self-esteem, certainly.

But then some of the more practical things

or problems is that we take advice

from other poor people.

And that's the biggest mistake

you can make in financial failure.

A lot of times people that have jobs at,

I don't want to name one of the low income places

just to be derogatory.

But they got those jobs from friends

that got them in there.

And so when you're not,

what you are, you have to do

what you haven't been doing.

And so taking advice for people

that are in different stratosphere

as a different spaces

is the biggest way

you can gain that quantum leap

into your next stratosphere.

Let me answer this.

Let's talk about personal financial philosophy.

You're a personal financial philosophy.

You gave us five points.

But I'm just a guy

walking into your office,

Brother Mahjahit.

And I don't know, man.

I'm frustrated.

I want to, I see people like that

making money.

But I'm not making the money.

I'm just an average guy

working a 40-hour-week job.

Can you help me?

Yes, infatically, yes.

The first step is understanding

that it's a process

and not a product.

You can't come to anyone

to buy something

to a military or a situation.

It's a process.

And you got to be committed

to the process.

And for a lot of people,

it begins by just looking

at your situation.

You'd be surprised

the people that just refused

to look at where they stand.

So you have to look at it

and receive some information

that's objective

to point you in the right direction.

And once you take a look,

nine times out of ten,

it's not as bad as you think it is.

It depends on what's

out of the table.

You sit there, brother.

Okay.

Because I'm telling you,

I've had a headache

on my side of the table

because it looked pretty bad.

But I think that what you're saying is,

don't allow the moment

to overwhelm you.

Infatically.

Infatically.

Infatically.

That's why I said,

take that deep breath.

Absolutely.

And also, I think a key

for me is looking around

and surrounding

and see who's there to...

Not so much give you money,

but that can support you

that you can talk to.

Because a lot of people fall victim

to a lot of their calamity

because they don't have

anybody that they talk to.

Because, like you said earlier,

a shame feel that they don't

want to look bad.

They don't want to feel that,

hey, I'm a failure,

especially the family,

especially the friends,

especially the coworkers.

Now, when you're talking

about your financial philosophy,

I'm a person

I'm doing all right.

I want to get in the real estate.

You don't want to talk

about your real estate story

2005, Katrina.

Send your packet.

Send your packet.

How do I get in the real estate?

My suggestion,

as far as real estate,

is to...

It should be pre-approached

with the capitalization phase.

And you should not approach that

unless you're in

the real estate,

and you pass financial fluency.

So what happens is a lot of times,

you know, there's a lot of things

out here, no money down.

And these are true philosophies.

You can acquiesce real estate

with creative financing

with no money down.

But what the story that's not told

is you can't cheap real estate

with no money down.

Real estate is a heavy financial

intensive business.

And there's a...

What you call it,

a factor...

It allows...

It cries a lot of involvement.

So the best thing you can do

is go through that capitalization phase,

which we know you beyond that.

But I'm talking to the average person,

you need to spend time...

What does that mean, capitalization?

That's just saving money.

A lot of people frown on saving money,

but you can't approach your opportunity

without an opportunity fund.

So you want to come to the market

well capitalized.

That's my advice before you think

about real estate, first focus on

capitalizing your personal situation

and it makes a big difference.

When you come to the market well capitalized,

the first thing is you see opportunities

that other people don't see.

And a lot of times when you have money,

things that you thought that you wanted

when you were broke,

you don't want it anymore.

You know, that...

And lastly, I say this,

what does well capitalized look like?

That's a very subjective language.

But we do know that Warren Buffett's

right hand man Charles Munger.

He said, you've got to get your first 100,000.

Do whatever you do to do that.

Please don't go anywhere.

We'll be right back with more

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Two percent.

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In 2023,

former bachelor star Clayton Eckerd

found himself

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The family court hearings

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glaring inconsistencies

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This began a years-long court battle

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You doctor this particular test

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You have to plan to be successful.

You have to plan

and so many people,

this will always get to me.

People want to get in the real estate, right?

Right?

And so they sit up there

and they go by land.

But they have no way of saying

they forget the one key thing

about by land,

taxes.

They're going to come get those taxes.

So if you bought land,

that's what you was talking about having

capitalization.

That's what you're talking about.

Having money.

Absolutely.

Because if you are not in a position

to make money off that land

or that house that you just bought

and you're not remodeling,

you're not trying to flip it,

the tax man is going to come.

And he's going to come

and want his money.

And if he doesn't get his money,

he's going to find you

and find you.

And eventually,

he's going to take back something

that you invested in.

And that's a key element

that a lot of people don't think about

when they buy land.

Land is key.

If you buy land,

and there's nothing happening

on that land,

that can become a liability

very, very quickly.

Correct, brother?

But Jayet?

Absolutely.

And I want to really speak

to $100,000

because it may overwhelm someone

that's in another stratosphere.

And the point is that

this is a process not a product.

I'm speaking at a certain stratosphere

when I see $100,000

and you have to respect the process.

So if you're in a financial health stratosphere,

you don't need to be thinking about real estate.

You've got to be $1,000 there

before you can be $10,000 there,

before you can be $100,000 there.

So respect the process,

no way you are

and grow organically.

It was, I think Abraham Lincoln

is credited as saying

if he had six hours

to chop down a tree,

he would spend four of them

sharpening his axe.

So don't underscore preparation.

It's not that nothing is happening.

Something is happening.

You're developing

so that when you approach

the market,

you approach it

from a position of strength.

I love you, mate.

You got those catchphrases now,

Pat, mate.

I love talking to you, man.

What is the benefits of financial coaching

that you provide?

What are the benefits?

So it's being able to talk

to someone kneecap to kneecap

is being able to hear from someone

objectively.

Someone to be able to feel

what you feel that's been

where you've been at.

Like I said,

most times we take advice

from people

that are on our same level.

We need to hear from someone

objectively on our next steps.

Now financial coaching

is a very serious step.

So if you're not serious,

you might want to read a book.

You might want to watch

the YouTube page.

When you talk about financial coaching,

you're talking about

you're really committed

to going to that next level.

It's important that people

understand that

I'm talking to brother

Majahid Muhammad.

He's a personal

financial coach

located in Katie

right outside of Houston,

Texas.

And his name of his company

is wealth coaching

stratosphere.

When we talk about

three ways our clients

can work with us.

That means us being you.

How can a client

come to you

in those three ways

you benefit them?

Absolutely.

So I would say

you can eat

if you just have

a one-off question

or concern.

It's really important

to have a one-off question

or concern.

It's a shootman email.

And if you don't mind

hearing an opinion,

I can't give you

investment advice.

You want to seek those

professionals out.

But I would love to hear

from you where you are

and share ideas

with you.

So that's one way to just

an email.

If you

lead a financial group

or you promote

financial literacy

and you want us to

come on and share some

concepts and help

develop that group.

We talk to

married circles

where there's

singles and we talk

about money and marriage

and different things

like that.

Or if you want direct

financial coaching,

visit us at

worldcoachingstratisfield.com

set up a free consultation

and we'll put you

in the right direction.

I love the word

free.

You hear that, ladies and gentlemen?

He will give you

like I said,

man's not going to give

away his business.

But he's willing

to consult you

lay down a game plan

find out if you guys

can work together

then they put a plan

and you both can

win.

But again, he's

being honest.

A lot of people

who charged the work

and sold them got a

PM of fee.

With his $9.99

or $59.95.

He's not saying

that he's saying that

basically come to him,

contact him.

He lay down the whole

process in a

complimentary fashion.

Find out if y'all

can develop a

worker relationship.

You get to work

a relationship on point

then you win

together.

Now, let's talk about

the personal

financial condition

of middle-income

America.

Because that's where

every politician who

runs for

office talks about

middle-income

and then we got

tariffs sitting out

there for the

Muhammad.

Man.

So the good news is

that the economy doesn't

have to be your

economy.

And that's why we

teach personal

finance.

And here's the outlook

of the average

American that after

take home pay,

20% is committed to

transportation.

Another

30% is committed to

living expenses, which

leaves 10% which we're

trying to invest in

mutual funds, real

estate, and what we do.

But if we would just

give focus to that 90%

that is encumbered

through financing, we

need to get the banks

out of our lives.

They are.

They are over,

help us over

committed and

underfunded.

But if you work

to free up that

company, you're

going to have to

get the money.

You're going to

get the money.

You're going to

get the money.

You're going to

get the money.

You're going to get the

money.

And here's the

drive.

Now you create a

tailwind that can really

cause you to change your

financial reality.

I know we're taught to

have the credit cards.

I know we're taught to

get the real estate

45% because that

out loud.

It looks so good.

And all these cars and

all these things.

But we just need to get

those banks out of our

lives.

is about living within your means and being a partner

with your partner and coordinating

your personal financial reality.

And you can really change your situation.

Wow.

Now we were talking about banks.

Now on your card, you sent me about infinite banking concept.

I've never heard that.

What is that?

Infinite banking concept.

Help me out there, brother Mama.

A gentleman named Nelson Nash,

he identified a concept that he dubbed

the infinite banking concept.

And through the infinite banking concept,

we're taught how to gain control

of the banking function in our lives.

That's something we really don't think about.

But when we want to buy a home,

when we want to buy a car, when we want an education,

we have to go to third party gatekeepers

that will determine if we can have that.

In building your own banking,

you learn how to use a life insurance policy

for its living benefits to accumulate capital

that can in turn allow you to access

for business opportunities.

So I was my barber.

We were in a barber shop.

He decided to leave and he started his own barber shop.

So we were just getting a standard cut.

And he said,

we were chairing another barber shop.

Yeah, so yeah, my barber was in a barber shop

and he decided to go through his own thing.

So yeah, so yeah, so I'm at his chair

in the barber shop and we're talking.

He said, hey, you know, the barber shop

we left is a for sale.

And so I said, oh, that's interesting.

Why the manager of the barber shop?

Why he didn't buy it?

He said, he don't have that type of money.

I said, you don't want to buy it.

He said, if I had the money, I would buy it.

So then light bulb, you know,

opportunity dropped in my head

because I had resources though.

That's the point I'm trying to make.

Because I had capital,

an opportunity came to me

and I was able to access that capital

without permission from anyone.

And this is the power of the Infinite Banking Concept.

So the Infinite Banking Concept is a course.

It should be approached as a course

and you should be under the tutelage

of a professional to set it up.

But once it's set up,

it's an incident generational opportunity

to gain and strengthen your finances

and have living benefits.

It's just a phenomenal approach to well-building

and to functioning and building a personal economy.

As a financial literacy expert,

what did you get your background?

You learned what courses did you take

to get you to this point

to be so literate, a literal,

this level of expert advice that you're able to give us?

I would say that the School of Hard Nights

is a big, was my biggest university.

But going into the fields,

my experience in real estate, I learned a ton.

Being in the insurance space, I learned a ton.

A lot of self-study.

I've been a tutelage under one of Nelson's top mentors.

So a lot of great mentors and all that.

But you can't underscore mentorship.

You cannot underscore mentorship.

And you know what's a lot that's not taught

is that the game is sold, not told.

There's a lot of great information

you can get from YouTube.

But when you really want to take it to the next level,

you've got to be willing to pay.

And that's what I've done.

I pay for a lot of coaching and mentorship.

And it's brought me to the next level.

I've heard this term a lot.

Can you break free from debt?

The game is situated where you got to stay in debt.

Correct brother, Mahama?

So when people talk about it,

use their term debt-free, that's not real correct?

No debt, debt-free, though, is real.

It is attainable.

And it is a beautiful space to be in.

I mean, now, you tell me right now,

you don't have a credit card bit.

I don't have a credit card.

Don't have a card note.

Don't have a house note.

Yeah, it's a beautiful space.

But now, it comes with a price.

It comes with a price for the average person.

It may take two to seven years to accomplish that.

And I don't want to paint a rosy picture,

but all I can say is it is show work, it is show work.

I remember when we were on our journey,

I asked my wife, how much was her student loans?

She said 50,000.

And so we got into argument, 50,000.

She said, yeah, you told me to defer.

I said, I didn't tell you to defer.

We go back and forth, you know what I'm saying?

So once cooler hands prevailed, I said, all right,

all right, we in it too, when we don't do it together.

I'm laughing because you were like,

I was like, you never heard that number.

No, no, no, at that time, that was huge for us.

I was huge.

And sometimes, like, sometimes I'm married, too.

And sometimes my wife will say something, I go,

and she go, I've told you that.

Right.

No.

But here's the Kings Park Resign.

After cooler hands prevailed, we said, okay, let's attack it.

We pulled the credit report.

The real number was 72,000, almost fell out my shed.

I was like, oh my God, it took everything.

But you know, we stayed the course, we fought through it.

And today, that's a major part that binds us, that journey.

So yeah, it is attainable.

It is a process you link with the right community.

We can help you accomplish that.

It's a phenomenal reality.

Yeah.

Because now, with you, my brother,

how do I create that financial game plan

with you, brother, my grandma?

You know, you, my personal financial coach now,

you are consulted with you.

It's free.

So now I'm going, I like this brother.

He got everything he's saying, all the right things to me.

How do you create that game plan for me?

Well, we're gonna start with a discovery call,

and we're just gonna open up your financial situation

and let you see it for yourself, everything.

We're gonna look at all the ends and out.

And once we look at all the ends and out,

we're gonna give you a game plan that starts from scratch

that allows you the one to get out of the situation you in

to begin to capitalize.

The first phase of capitalization is an emergency fund.

The second phase is a homeowner down payment,

unless you already have it.

And the third phase is building up that opportunity fund

and then show you how to approach the market correctly.

So I'm giving an overview,

but trying to give me some insight to how we put you on a plan

and work with you, allow the axles questions

and work through that process.

You know, the process is this.

If I said that with you,

do I need life insurance, brother Mahama?

Do I need life insurance?

The everyday person need life insurance.

So personal finance is personal.

So there needs to be a personal assessment

to answer that question.

Generally speaking, yes, there's some one-off situations

where you're single, no children, nobody's dependent on you.

You may get away with a burial policy.

You know, you don't have any assets or whatever,

but generally speaking, we need to get into the business

of insurance to promote this intergenerational exchange

of wealth so that we can compete with our counterparts.

So we strongly encourage you to get that insurance policy

in place, absolutely.

I'm telling you something, this has been fun.

Fun and educational for me.

I love your personality.

I love your approach to this.

How do we interpret you, brother Mahama?

There's a few ways you can go to wealthcoachingstrategesphere.com.

You can email me at support at wealthcoachingstrategesphere.com.

I'm on Instagram at wealthcoachingstrategesphere.

And yeah, I just love to connect with you, send me an email,

let me know what your questions are concerns are,

and however we can serve you, we'll be happy to do so.

Well, he's up there doing big things down in Katie, Texas,

which is right outside of Houston, Texas, my home town.

He's a personal finance coach, a wealthcoachingstrategesphere.

He's brother, my jawhead, Muhammad.

Thank you for coming on Monday Making Conversation

Masterclass, my friend.

Thank you, brother and son.

We'll talk to him.

Yes, sir.

Thank you for listening to this episode.

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