Why Most Investors Fail (And How to Fix It) | Q&A

0:00All right folks I love this segment each each week it's where Mark the financial firefighter goes through the comment section and he takes out the spicy the ones that maybe need to go a little bit deeper and yes it's fair he likes to piss me off on occasion so we'll see how he does this week let us know in the comments below feel free to ask questions it's always fun to see where he takes us on this path this journey yeah it's a little bit more different I know you're doing something different also on your channel too right after your lives you're throwing it right on the video side so it's a little bit different finding the comments but this one I found in your video with Casey brick by brick the truth about 8% mortgage rates this individual comments you gave Adam Adam Tiger crap for having so many doom and gloom thumbnails and doomsday guests you are starting to do the same thing with your titles that is completely incorrect if you've gotten if you bother to click on the video we

1:00just answered what would happen if we went to 8% mortgages to say that I'm doing what Adam Tiger does is insulting both the him and I right it neither we are not the same we are absolutely not the same and you know he's very good at what he does I think he got over a million views the last month or two so whatever Adam's doing is working I choose not to follow that strategy I'm not someone that wants to lean into the wrapper of doom and if you zoom out yes I may have a negative headline every now and again but if you zoom out and look at our last 90 videos to call me a doomer like Adam is insulting to me so I'm not taking that at all and one of his regular guests melody wrong or melody right she is definitely a doomer but you did a recent video with Jason Hartman talking about the deep dive into a mortgage fraud but this individual says invite her on for a

2:00debate telling someone is wrong without them there to defend themselves is just not credible so again I have had melody on again I don't mind having alternative voices on the channel in fact I've invited them melodies been on my channel twice she will never be on the channel again and again the reason melody is on so many channels folks she is a money maker for the creator I've done 18,000 videos my top one and two videos on the channel earnings are melody right and it's not even close first place 1200 second place 1100 third place 400 she's a money maker that's why Adam and all these other channels bring her back because she prints money but that's not what I'm here for I don't need the $1000 I don't need the $2000 I want to have a debate with somebody that's willing to admit when they're wrong and that's why she's not coming back she just leans into the next stupid statement now talking about mortgage fraud and Monday laundering and all these other crazy PTSD things I'm just not having it if

3:03she's not willing to admit that she was wrong about 2024 collapsing 5% the fact that she didn't admit she was wrong about 2025 collapsing 9% the fact that she's now saying that's not 50 it's 38% and wrong again if she's not willing to have that conversation about okay I honestly missed it the reason I've been wrong for three years in a row is x, y, and z why the hell do you listen to her well she lit you listen to her because she gives you permission to do nothing she gives you permission by feeding you chocolate chip cookies full of poison and you all are eating it up and drinking a glass of milk I'm not here for that I don't need the money Adam can keep the money Adam can go buy his million dollar told brothers house and Reno if he wants on doom I'm not doing it I will never have her back I asked her privately about what you know basically trying to cover why she's been so wrong and she became a raving bitch so no I am not having her back on the channel not happening I don't know if I'm sure

4:06you didn't see it but it was actually a kind of entertaining so Adam did a recent video with her but it was about him but it was about him purchasing his home so it was so he even was kind of like oh you know I think this area is not gonna drop in prices and so yeah it was a good unique video but him talking about him purchasing his new home and her having to try to be well you should be careful of this and that and I have no comment just no comment she's all right sorry sorry we'll bring up one more of hers though since you since you shared this one on X but there's people that are saying multi-family has already matched her predictions single family will follow oh thank God I have receipts melody right was not talking about multifamily I have the I have the two videos I told her where the crash was coming multifamily not residential she didn't want to hear it now if you're looking at the data today yes multifamily housing across the country is down at least 20 I would argue 30% and in some markets 50

5:07or 60 but to say the melody writes right because multifamily crashed is this to be drunken stupid and all that stuff at the same time don't go looking for an area in the market that's down that much because she never called it melody right is a residential mortgage something or other she she has no experience in multifamily so to say that hey go look at multifamily melody right is right you guys are morons you're absolutely stupid go eat her chocolate chip cookies full of poison with the big glass of milk and stop watching my channel you I'm not going to be there for you're a moron you're an idiot go watch her just go away just leave me alone sorry I lied me we do have one more little bit of well well this was this was more about it's fine it's talking about the the mortgage fraud because I don't quite agree I think you guys so you with it you Jason Hartman this person is saying I love your content and usually agree with you but I'm going to say that I disagree with you too and and melody melody is

6:10wrong about the about causing housing crash or whatever but you guys are wrong I'm saying that she says it says what's happening isn't so I guess this person is trying to say that you guys are not saying yeah so is it possible that four parties are somehow tangled together and creating mortgage fraud sure it's possible there might even be dozens of examples across the country where four conspirators are doing something that is this dishonest but to say it is going to be the collapse of the housing market is just again wrong she is finding single points in blowing them up into this you know conspiracy again you have to get lenders involved appraisers involved you know arms length transactions there are so many catches that would prevent this from happening at scale it would be

7:14it's nearly impossible to do it at scale in fact I think I think Jason talked about it if it was it'd be a rico case right it's it's just not folks I know she comes up with all these great stories and she makes you feel good and she's got these warm chocolate chip cookies with poison in the oven if you want to sit down and get fat stupid and die of poison go ahead and listen to her stuff she is not here to help you she has PTSD from the worst real estate market called the gfc and she earned it she was in the thick of it I understand her day to day must have sucked dealing with mom and dad losing their home but to have that baggage and make everything the next gfc is where you're wrong that is a once and hopefully in a century set of circumstances it's not coming back just stop stop the madness and you also posted a question on ex also a kind of verse where she mentions he has all this information and you're kind of

8:18questioning like who would give her these type of I really don't understand that right I mean if you if you listen to her she's always talking about this book I've got access to this book and this book is so this book is so bad and so ugly dude she's a sub-stack writer who in their right mind would give her financial proprietary information I mean like seriously who would give it to her I mean there's not a company on the planet who has a big book of business that would just hand out their book to some sub-stack writer that's not how this game works right the fact that she can say these mysterious things and it's behind this cloak and dagger like the I'm sorry the person behind the drapes is not wearing any clothes you guys are you guys are falling for the story it's not like has anybody ever seen this like are we just taking her word for it in this environment I mean there's I mean this is just this this is logically speaking does it make sense how would a sub-stack writer who's not employed by any of these folks suddenly get proprietary information is somebody in the company

9:20just putting something on a thumb drive and handing it to her I mean is it is it you know in a paper bag in the parking lot I mean what are we talking about I mean just ask yourself logically does that even make sense it doesn't make sense now from your two other favorite individuals Ryan and Brian on that episode there was some more new comments I haven't gone yeah so this individual Green Lantern says at the five minute 45 second in other words I guess he's referring to you he doesn't want to talk about single-family homes aren't a lot of mortgages with a variable rate homeowners struggled in 2008 when they increased interest rates no I mean so first off we do get to real single-family in that discussion after the five minute mark but no single-family homes up through 2023 98.2 if memory serves were fixed rate mortgage and why not they were two and three percent now it is fair to say that over the last I think it was the last 90 days according to

10:22mortgage business daily available variable rate mortgages are now 11% so their double digits now but that's in the last 90 days right and you know could that eventually become a problem in the future sure but it's we just not even close to the scale guys 2006 51 percent of loans were adjustable and most of those were two and 28 so if you take two and you add it to 2006 when is that oh that's 2008 when the the crisis start oh 2008 we're just not there I mean it's it's not even close I think you've touched on this before but on that same video with Ryan and Brian says you guys are gaslighting your subscribers there is no inventory shortage presently the cost of homes is the issue and when the estimated 15 million baby boomers die within the next 10 years who is buying their homes supply will increase further hence prices will drop I

11:22mean I don't even know where to go with that again to assume that there's some magic clock we're all of them are gonna die on the same day is you know kind of crazy you know most of those boomers are gonna have houses if their kids take I mean let's just be clear and the ones that don't they'll sell it and have an liquidity event again death at divorce are all part of the process it's not it's not some new experience people have been dying for thousands of years the one the one wrinkle and all that is demographics again I think what we're gonna need to see over the next decade or so is more positive migration right we're obviously in a very flat or negative migration today because of the craziness of the Biden administration just open borders but you know I'm up I'm up the opinion by the next president or the one thereafter we will have a real migration policy where we bring in high-value folks and you know that will change the story you know in a big way so migration is the variable that kind of fixes this doom of you know baby boomers vanish and who's gonna take

12:24their make mansions I'm not concerned about it if it was it's not the next 10 years it's probably the next 20 years so you know that's that's two decades away on that same video you know Brian took his his jabs at you talking about no one's gonna remember you you know maybe even in 10 five to 10 years after you passed yep but Alex the accidental investor from the one-minute-a-time community says Kobe Bryant did absolutely nothing that impacts me or my family the things the Uber is doing have personal impact and connection stand the test of time wow that's a man that's that I may want to save that one that's an amazing comment and you know the other thing I'll say on that kind of the same wrinkle I never met Kobe Bryant but again I've seen you know enough games and enough speeches and quotes and that he's gonna be remembered for 50 years and I'm not putting myself in the same camp by any stretch I'm just saying you don't have to meet somebody for them to be impactful right and you know I

13:28sit here today eight years into this journey doing 18,000 videos writing two books you know doing all these other amazing things and I'm gonna keep swinging hopefully for another 3040 dare I say 50 years and we'll see you know if it happens great if it doesn't it doesn't matter I'll be dead but I need to I I need to have a mission I'm a mission-oriented individual I cannot wake up and play golf and go eat lunch and then take a nap and you know just flood about you know doing my thing I can't that's not who I am I need a mission so that's my mission whether you like it or not Brian the bald guy and I'm gonna keep I'm gonna keep shown up because it motivates me every day and I don't you know I'm not gonna stop so we'll see we'll see what happens but we do all them of some appreciation because they maybe a new book coming out right so you did do a

14:29video with the three amigos of building an empire one rental time book number three but this was a great comment from Corey the great they said appreciate your time guys I had a question if anyone is able to answer we keep talking about it taking off giving it time what is it the equity to roll into other deals refinance options how does it all work you know I remember reading that question and maybe Mark you can help me piece it together what was he really asking I think you know Dion Lumberjack yourself talk about the five years of suck right needing to get to 10 years okay got kind of the you know it kind of takes off right yeah so so really what I see there's a couple of variables there first is you need time to get past the proof of concept you need to you need to learn you need to make some mistakes you need to get better because you know you will eventually become elite at your buy box and that's really what you're striving for is once you're elite at your buy box or your area you can

15:32see value faster than anybody else and that's when that light bulb or that lightning hits you're on your you're on you can't be defeated right that's the first thing second cash flow and equity go or not linear like a lot of folks myself included were like hey 18 18 North Drive maybe 200 bucks how many of those do I need to get to 10 grand the answers 50 but you know it doesn't work that way right because again over time that $200 will become two and a quarter in 250 and 280 and 290 and 300 and this that and the other and you know the equity in the cash flow game is it's the best technology is a hockey stick right it doesn't seem like it's moving and then all of a sudden it is so that's really what we're talking about and it usually happens at year seven eight or nine right that kind of pop Deon talks about he didn't see it till year eight so again it's that's what we're talking about is it takes it's not a linear progression it's exponential and exponential feels like nothing until suddenly

16:35it takes off now the one video that I think you know a lot of the accountability calls you know a lot of it starts off in the school community you know maybe the first hour is a lot of real estate focus and it kind of drifts into a little more life discussion so your video with Cody Davis on like why ambitious people struggle to find enough I think is kind of how a lot of the calls kind of end that's kind of the finance question yeah so on the I definitely think people need to watch that video there was something Cody said and maybe you can touch on a little bit more but he says you have enough when what you're doing takes away from what you want I'll do I remember that when he said that that just felt like a bomb drop in the middle of the room that was so perfect and until you get there you don't really understand how awesome that statement is right because again why are you doing what you're doing most of you will admit it's because you want you want some time of freedom or a better retirement for me it was get to four have a better retirement and

17:39then it grew from there but that's what you want and where people fall down and I think Brandon Turner is the unfortunate best example is he had that he had that in spades he had that times two or times three and then for whatever reason he wanted to become a billionaire and he wanted to become famous and he was already famous he wanted to become uber famous and then that just took him down a path that actually took him away from his stated goal and you know right or wrong Olivia and I didn't make that mistake we got here eight years ago we sat down you know I still reserved the right to get up and climb again but we don't have to and we're comfortable being here and in Cody's statement was so dead on when you know you're trying to get more but it takes away from what you wanted that's that's like that's a problem so yeah understanding enough is is that's a great way to end accountability calls because it's it's not one it's not math right a lot of what we do in real estate is math that's not math that's

18:42more I don't know something else yeah so on that same video Toby Khan who always leaves some great comments also says ambitious people never think they have enough it's always the next deal next idea next level just ask Tom Brady he would tell you you know I'm I will say that a lot of ambitious people they they just get so used to living that way I eat Tom Brady they just you know they're all right New England doesn't want me let's go to Tampa and win another one and FU New England but that's that's not all of them I would argue I was the most ambitious person I knew and for what and maybe it's Olivia's you know wonderful this around this that may be kind of understand that you know there's a there's a transition and you don't have to go so hard forever and yeah you know I I'm not sure I'm gonna take that is there's very few things that are black and right that simple so you know I certainly think it's possible for people to

19:46transition but not but to to the to Toby's point I've seen more not transition right I've seen more people like Brandon than not Brandon right when you get when you get I mean Brandon was elite or I should say Brandon is elite and you just want to keep playing the game right and you want to keep upping the stakes so you get that in Dwarf and hit for whatever reason I didn't let that affect me and I just literally sat down and you know stopped playing so like I said Punokar also leaves great comments and it's on the same video that you did with Cody Davis he says sure ambitious people find it hard to stop at enough but they're also more likely to achieve enough also I was celebrated life of a teacher a doctor a military person who worked their entire life and found meaning in it made a positive impact to society over someone who had a career that they disliked quit it after reaching financial freedom and just

20:50traveled an eight stake for the rest of their life I have built enough generational vote that my teenage kids don't have to work but I'm teaching them to find a passion be ambitious and dream big work towards mastering use it to do good yeah again he's the man I think he said somewhere that he wrote a book or is writing a book I don't remember what the I don't know if it was past tense or not but I'd love to see that book because I think he's I think he's he's got something there yeah I mean there's just all kinds of wonderfulness there and I'd agree with him I think when you look at a life well lived is it the person that to his point again my words not his the person that sucked it up in a shitty job and then and then after 20 years enjoyed life but did nothing else but for themselves or do you want to have somebody that had a meaningful career and and was open to helping other people I'll take the second one all day long I would argue most people in the first camp but you know I think a white a like again obviously that's what I'm trying to do

21:54a life well lived is leaving the world better than you found it and you know I think that's a worthwhile ambition uh talking about books though there was a post in school and someone brought it I'm not sure if you read it but have you ever read died with zero I have I bill Perkins yeah yeah I think it's an amazing book um I read that book I want to say four or five years ago it's been years I actually bought it twice once it once in both houses um I just think it's a great mental shift it's funny I just saw it on the um New York Times best seller in business books I think it was number four I agree it's an amazing book it um I love I just love the idea the the twist about transitioning from kind of a money mindset to an experienced mindset because when you're and again I hear you're so right because again I traveled on some amazing you know five figure travel trips with with really really rich people and most of them are in their 80s in feeble their memory

23:00bank from those experiences are going to be garbage um but yeah I love having a memory bank you know started in my 40s now in my 50s that I can go back to and remember yeah I think Bill Perkins book is a must read for most of not everyone I do want to maybe touch on a few of these but I'll send it to after but there was somewhat real cashful advisors uh must have did a lot of work but on your video recession or 4% inflation uh they wrote out a bunch of my close-through were quotes I guess maybe so I may have to send it to Frank to get some t-shirts made but uh let's dig into a few of them maybe yeah please go ahead one says um money is not respected when it's free yeah amen yeah again I again I I wrote one rental at a time to give away and I send it to hundreds of not thousands of people and like two people read it one of them was millennial Mike thankfully because that started this journey but yeah nobody read it and you know I did a I did a how to get

24:02started one rental at a time that was free or nearly free nobody it's for whatever reason yeah if it doesn't cost something people see it as zero value so yeah uh he also put get away from the tree of fear to see the forest of opportunity yeah I actually have a t-shirt or one time had a t-shirt that said something very similar yeah I think a lot of people get too close to the tree and they're like looking at the bark of doom i.e melody right and if you just zoom out and you can see the pictures completely different right so sometimes folks we got to zoom out the cash flow in your business is like blood flow in your body damn they do this person did a lot of work yeah it must keep moving constantly to keep the entity healthy absolutely cash I mean again there's three financial statements you learn when you're getting your MBA you know balance sheet income statement but the most important is the cash flow statement yeah yeah I'll send it to you there's a it's a whole bunch of about 20 looks like maybe yeah um yeah uh what's new a wrap it up there I guess what's new

25:06with the event I see um I saw someone in school they purchased like three tickets for their teenagers yeah um but I also got people wondering like what's the what's the age cut off and can they send their kid by themselves and things like that so so no I do not want to be responsible for your kids do not send your kids solo no no no no no the whole idea was mom and dad would come or mom or dad would come and then you would bring your teenagers with you I am not responsible for them I am not feeding them I am not housing them I could not imagine a worst city to send your teenager to by themselves then Las Vegas Nevada so no don't do that don't do that please don't do that what's the cut off again I'm saying teenagers you know I'm not gonna I'm not gonna card anyone I mean it should be honest I will say that you know if they're gonna be like you know 10 you know 9 10 11 they got to sit down and they're gonna be around people twice their age so realize

26:08they may feel awkward so again mom and dad that's on you I trust you you know you know your kids and I am not gonna card them I may not even see them oh we want to make it a positive experience for them and everyone else so yeah it's um yeah I'm not gonna card anyone all right well yeah it's it's coming up quick man so I think it's less than a hundred days now yeah yeah it's coming around fast so if you haven't got your tickets people definitely go grab it and we'll see everyone in Vegas yep see you guys in Vegas and also if you're in school uh Mark Kenney and of course Jen got you a hotel discount so Jen Jen all just all just all just all right thanks guys take care bye