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Saving with Steve
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Guests, Dennis Kucinish and Christina Vandergrift

Saving with Steve with Steve Sexton

Guests, Dennis Kucinish and Christina Vandergrift

Saving with Steve

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The Save With Steve Show, hosted by Steve Sexton will help you with ins and outs of money. We talk about financial issues that that could be costing you thousands of dollars and keeping you up at night.

We talk about “money”… tax reduction, saving more, how to spending less and get more, 401k’s, risk management, retirement, and everything under the sun that relates to you having a healthier happier relationship with money.

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Weekly Show
BBS Station 1
Tuesday
Starts
6:00 pm CT
Ends
6:55 pm CT
Show Transcript (automatic text 90% accurate)

everyone has their own unique views and needs when it comes to financial success if you'd like to leave your financial woes behind and live a life of Financial Freedom you've come to the right place Welcome To Die saving with Steve show hosted by Steve Sexton the show will help you with the ins and outs of money we talked about financial issues that could be costing you a thousands of dollars and keeping you up at night we talked about money tax reduction saving more spending less 401K risk management retirement and everything under the sun that relates to you having a healthier happy relationship with money now here is your host of saving with Steve Steve Sexton<br>talk about the ins-and-outs of money pretty much everything under the sun to release that you having a happier or healthier relationship with money my name is Steve Sexton I want to thank you for joining us today we have a wonderful show for you but I first want to thank you for sharing it with your friends and family and Associates with well over 600,000 listeners and viewers now we very much appreciate your being here we have something very special for you after years of canceled vacation plans weekend spin around home Travelers are eager to get back out in the world and it's a major summer plans a significant amount and even me to the Privacy comfort and affordability of any unique experience of a vacation rental don't worry I have somebody here that's really special I have Christine Vandergrift she just released a new book called vacation rentals the ultimate guide my well trading streets as little to no money down<br>retirement savings what you need to know about taxes and our first guest it's a special guest for the first by the show I want you to imagine your new mayor of a big city from day one he had to battle of Shadow city government which engage in corporate Espionage sabotage price-fixing Cutthroat competition and a trust have organized crime wholesale fraud the bank threatened to and the city's Financial try to push you to sell the city's utility so they can raise rates at well they have an immediate subvert<br>everything they came and when they found out they couldn't buy you they try to kill you sounds like a Blockbuster movie doesn't it but it really happened to former Senator Dennis kucinich a 31-year old mayor at the time of Cleveland the good senator's here discussions book The Division of Light and Power in the current situation with utilities in America I'd like to welcome to the show former Senator Dennis McKinnon's a lot of people don't realize is you got involved with politics at a early age so you remarried 31 and Cleveland then you went to the Ohio House of Representatives or the Senate from 95 to 97 you spent 16 years of the House of Representatives here between 97 2013 even ran for president double X so you had a busy political career what's really interesting is this book The Division of Light and Power the story is really you seen the movie you don't really think it happens real life<br>and I was just wondering if you could start by telling us a little bit of that story so people can understand what's happening there and then I'd like to talk to you about what's going on with the utilities and everybody here hates the price of utilities I'm in California and friends in Texas and Illinois and they're worried about their money in Harvest cuz that's how you feel because you know the time in 1969 where I'm just selected the Cleveland City Council and all of a sudden my wife and I are shopping in downtown clean all the lights go off Christmas disappears I was just about to take off as a councilman and I started asking questions why we have so many blackouts<br>and when I Learned was that are Melissa Lee on the electric system was being interfered with by the privately-owned Electric System which is trying to take it over and a private company called the Cleveland electric illuminating company was lobbing city council not to make repairs on our own system was blocking us from being able to get power from outside when we could produce around the only ones we could buy Power from where the CIA they triple the cost of power so blow hole in our budget we're talking about a story that is sabotage corporate Espionage assassination plots I mean this is a true story but<br>you wonder why the spider over Municipal Electric System well here's why you wonder why your pay so much for electricity electricity do private power companies Pacific Gas and Electric in California First Energy Cleveland electric Illuminating Company in our area from which cheaper that's what Cleveland it 20% cheaper the private company wanted to wipe us out so they can have in Monopoly power in play button and I stood in the way and that's what the start of the books about it is a wild ride through political corruption through corporate corruption and through what happens when one person takes a stand<br>basically they are trying to buy other politicians in the city council they're doing all that kind of stuff whatever others were doing I couldn't tell you what to do with someone who can't be bought in politics my life was on the line literally I'm in the room that I'm sitting in right now that I'm talking from there's a high-powered rifle shot that missed my head by a fraction when I began a campaign to block the sale of our Municipal Electric System a sale by the way which had been consummated it was already a done deal I intervene to reverse it and that's when the danger curve started to go up to statuary but I got elected mayor on a promise to shave that's just my black for sale with a petition Drive got elected mayor and I cancel the sale happy day no<br>on December 15th 1978 the biggest bank in Ohio Cleveland trust told me these are you sell that Electric System their cities system to the private utility which bank was that business partner or we the bank will not renew the city's credit on loans I had to be taken out so it's called extortion in the normal world but those weren't normal days in Craven and Banks were in charge and they were trying to call the shots except I wasn't going to lock so The Story Goes On from there again there is never been a story quite like this in American Urban political history and I finally had a chance to write it out to get a chance to read it because it is not just about to pass what's the American Rescue plan money runs out all these companies been looking at Water System sewer system that parking at police fire waste collection all those services and seeing how they can move in and try to privatize<br>wow so people understand the political battle that is going on today and how they go about trying to privatize as I know there's pressure and stuff like that but a person just doesn't understand what happened I'm going back to her in communities across the country people start looking at where we get money and it'll look for a city service or city asset to try to sell it it's a temporary fix but when you go from public to private<br>the cost of service always go to shop and taxes always go up to support the underlying cause because of the relationship between services and the city itself being a customer so what are you do well the book will tell you it's like a road map as to how to push back against privatization Amir Tom Johnson who was the mayor who founded many light at the turn of the century the 20th century in his book Shame of the Cities Road America<br>Mary Johnson said I believe in public ownership of all public service facilities parks of Waterworks School Electric System because if you do not own them they will in time on you they'll corrupt your politics rule your institutions finally destroy your Liberty show the division of lightning powers really the story of the corruption of the politics the ruling of institution and the attempt to destroy the Liberties of the people of the city of Cleveland and I was privileged and blessed with the opportunity to stand up for the public interest and as a result today we still have our Municipal Electric System<br>took a lot of Courage lot of Integrity to do that so I commend you for that is not everybody has that spell recently out here in California where I live they're putting in some new pipe in the road and it's for the Water waste system so obviously we all get this little bill for the increase and then we get an increase in our race for water and sewage now people don't realize hate maybe 20 bucks this year but you know it's 20 bucks next year and you go from paying when I first moved here about $40 an hour pay $920 on a monthly basis how they rigged that if it's a public system<br>you have access to that information about rates are calculated but you also have to watch for this see if they're if the if it's a public system cheaper sitting on a surplus Let me Give an example here in Cleveland our water department has a 400 million dollar Surplus while they Braves people's water raise money they should give some of that money back to the people are they charging too much are sewer district has a 300 million dollar Surplus some of that money should go back to the people you've got to look at the budget and you got to look at the balance sheet to see how they're spending money if it's a public organization is a private organization<br>I can promise you you're being charged with a the traffic will bear you still receive Public Service Commission that information and you need to do a little bit of research to find out why you chori Bridge cost so much that's a big question is Nutella t-bills are taking up a larger and larger share of people's family and we often don't have any idea why they cost so much well you know I know how I understand how rates are made and it's not that complicated just reach out for the information and its publicly available public system and privately you have to go through the Public Service Commission what the information can be obtained and yo Republic patients we elect people will Point people make decisions on this and that's were elected officials matter that's why public control of the institution matter<br>the private system it's a lot tougher to have any real influence without the help of a team of attorneys you're just stuck while you're not just stuck but it's tougher that was Dennis kucinich we're going to do a little quick break here first of all I want to think score master.com did you know the average American is 97 points they can add to their credit score but no idea how to get them the data scientist scoremaster practicode on how adding 97 points your credit score is like found money it means fast loan approvals huge discounts low interest rates and everything from buying or refinancing home the leasing a new card apply for credit card how fast is scoremaster one member raise their credit score 33 points in just five days another 43 points in a couple of weeks or master so he's he's takes about a minute to get started and if you hurry you can get to try scoremaster for free that's right scoremaster for free and money plus points you can add your credit score to go to score master.com scoremaster. Com<br>again that's for match.com gave me more expert advice for having a happier relationship with money still to come on the saving with Steve show<br> don't let your financial woes keep you up at night and prevents you from living a life of Financial and personal freedom hi I'm Steve Sexton post of the saving with Steve show where did he talk about the ins-and-outs of money those financial issues that could be costing me thousands of dollars causing stress keeping you up at night we're going to talk about money tax reduction saving more spending on your investment risk management retirement and everything is so she ate it with you having a healthier happy relationship with money so if you've ever dreamed of living a life of Financial and personal freedom you owe it to yourself and your family to tune in to the saving with Steve show join me Steve section of the saving with Steve show as we talked about everything under the sun when it comes to money to learn more about the show visit saving with Steve. Us that's saving with Steve. Us saving with Steve. Us will see you soon<br> welcome back to the show that is here to help you achieve your financial goals it's the saving with Steve show now here's your host Steve Sexton I want to truly thank you for tuning in appreciate you letting your friends and family members know about the show all replay it's available at ww.w saving with Steve. You as if you're enjoying the stories of helpful information inside on saving Wednesday then I encourage you to subscribe to your YouTube channel are Google Play channel on Spotify check out a few of our Affiliates of UK help radio BBS radio talk radio in New York City e360 TV Las Vegas TV networks all these networks are dedicated to empowering you to solve problems uplift your spirit and live a life of personal financial freedom and I want to thank our over 600,000 listeners that are with us today we have former Senator dinner I really want to encourage you to get this book The Division of light and power is an autobiographical story of how he fights a shadow city government Banks all pushing it<br> to privatize the utility assassination attempts just like a movie Dennis welcome back to the show and I thank you again for being here so there's a lot of people are getting upset about a lot of things that are happening politically right now but when it comes to looking at our dollars and since you talked about a little bit in that first segment but could you help us with a little bit of a road map showing us how principled approach to Everyday Life in Paris to find the courage to do the right thing when it comes to politics but I find too often now people are going to listen to the other side or they just have their own and be on their side they're not going to listen that type of thing how do people take the right approach to make a difference first of all we have to keep our minds and our hearts open in some ways<br> we're forgetting the<br> defining purpose sub<br> of America in the first model of the country it was e pluribus unum in Latin translated out of many We Are One<br> and when I ran for president why is traveling the country I discovered there is an underlying unity in America<br> what are politics as polarized<br> chopped up constituents into little polarize units<br> we need to remember it's American there's a much broader<br> Destiny of this country and we we must not separate herself when I deal with people I don't see people as Democrats Republicans are any party at all liberal-conservative I always try to remember and I want to share with you that<br> I think the undeniable truth of our existence is human Unity that we're all one we are interdependent where you connected I mean you think of a cell phone you know how we can contact somebody you anywhere in the world with one of these you know we have ability to reach out and touch people everywhere we can travel anywhere we have an interest rate your technical infrastructure that connections we also have hearts that connects us to the heart of the world other we must never lose sight of that cuz when we lose sight of that we deprive ourselves of the real power of our Humanity<br> it's not about being right<br> never winning an argument<br> it's about<br> realizing our commonality since human beings you know when we lose sight of that we lose the real power of our Humanity to change things and so I always try to remind myself that I brothers and sisters everywhere and we always have to<br> reach out and<br> reconcile ourselves with our brothers and sisters and listen to what people have to say and we can be slow to judge and quick to heal and I think we can recreate the transformation has to take place not just here first but right here I think that's wonderful and I actually agree with that sentiment because far too many people nowadays are taking one side and are very divided and if they are just open up their heart a little bit and realize it's your brother your sister whether they are different color creed or who they like heart really<br> yeah pretty much everything is the way I looked at it so I think that's wonderful what I'd like to know is besides writing books what are you doing now in your life well in about a week that people in Ohio will be voting for a new mayor and I'm on the ballot and there are poles would show me in the league so we'll see how that works. It's been a while since you've been in there it would be a return after 44 years so we back in the late seventies there was a specific issues that you had to deal with how much is that the city of Cleveland has nowadays prime one of the most violent cities in America and fortunately<br> and we don't have enough police<br> to be able to<br> deal with crime I talked about hiring more police also hiring Safety assistance to our experts and conflict resolution and Crisis Intervention police call requires a response for the gun<br> boss I want to add this I want to create in Cleveland a Civic peace depart I want to make teach the central organizing principle of our community with law enforcement sporting a restorative justice supporting them economic opportunities in our community<br> and I don't see how that goes because as I said people will be voting sun safety assistant what would be their function I understand not everybody likes social workers health issue you don't need a gun to deal with that in doing so and taking that approach you're likely to avoid an escalation which sometimes tragically yes we've heard about that too much in the news OK in the Civic Peace Department help me understand what their function would be would be<br> violence exists in a community in<br> sometimes the city is in a where the things are happening in the community and we need to get people in the neighborhoods and find out what is happening where violence begins to percolate what's going on is it a neighborhood dispute isn't it a lack of resources and such a long-standing grievance we need to find out because by there's all kinds of things happening in a community that went to violence but if you're not on top of it you could miss something really big that could mushroom into but should have tragedy so what I want to do is to address<br> factors that are involved in violence we know some of them already housing lack of access to food there are conditions that create 20% of the people are living on $10,000 or less a year now I'm not far from there but conditions are created where people are struggling to survive and we have to see the relationship between that and the rest of violence<br> gang violence gun violence I want to take a scientific approach to program said address people's concern so if you don't feel alienated only searching percent of the people in important congressional election that was more than a week ago LOL wow I mean really you think about that what are we doing that causes people to be so alienated what we need to find out and address and well I might know that some of those things intuitively and people may have told me that you know we need to look at this scientifically talking about an Innovative approach towards City governance that gives people a chance to really Express how they feel and when a man who has more than a half-century of<br> political and government experience that would lend itself to a real transformation of of the social and political structures I want to thank you for being here if you're listening to us from our Cleveland affiliate I want to say consider Dennis Premier and I hope everybody goes out and vote that it's not 13% show up because people don't realize they are messing with her future if they don't vote and I really love that people need to think with their heart as opposed to being divisive so I want to thank you for being here I want to encourage people to look at your book The Division of light and power and I wish you all the best in the future Dennis thank you thanks for being part of the show me back when your mare thank you Dennis kucinich he's got this wonderful book called The Division of Light and Power you want to go to Amazon at the available there has been available since June<br> getting wonderful reviews omigod what was really interesting is that people now could take a look at what you can do to look at possibly figure out what's going on in your own City your own utilities and municipalities all that kind of stuff and figure out how you can lower some of your utility bill to just got to fight a little bit but you know what that's wonderful now again I think Dennis for being here we're going to take a short break pay some bills will be right back more expert advice for having a happier relationship with money still to come on the saving with Steve show<br> don't let your financial woes keep you up at night and prevent you from living a life of Financial and personal freedom hi I'm Steve Sexton post of the saving with Steve show where did he talk about the in an ounce of money those financial issues that could be costing me thousands of dollars causing stress keeping you up at night we're going to talk about money tax reduction saving more spending your investment risk management retirement and everything is so sweet with you having a healthier happy relationship with money soon as you've ever dreamed of living a life of Financial and personal freedom you owe it to yourself and your family to tuna to the saving with Steve show join me Steve section of the saving with Steve show as we talked about everything under the sun when it comes to money to learn more about the show visit saving with Steve. Us that's saving with Steve. Us saving with Steve. Us will see you soon<br> welcome back to the show that is here to help you achieve your financial goals it's the saving with Steve show now here's your host Steve Sexton welcome back to the news announces money we just have former Senator Dennis kucinich here he was talking about his book division of light and power but he also talked about how many cities in many big businesses are looking to privatize utilities so they can jack if you're raised this would be really important to take a look at those utilities take a look at the public information to see how many of a surplus so maybe you can set of jacking up your rates maybe they can give us a rebate or reduce your rates move in for we're going to talk about a big hit in what you need to know about taxes for the realities many people been scrimping and saving and building up a nice retirement nest egg<br> so give yourself a Pat the reality is you're only halfway there many investors are so focused and accumulating wealth inolect the second part of the equation which is pulling out money so that you don't depleted and unnecessarily from poor taxes isn't he like I said before he spent decades trying to put money to retirement plan the big question and the answer is how do you get the dollars out and do it a tax-efficient manager got to realize that you're not as rich as you think you are so you thinking about<br> I remember every dollar comes out of this can be taxed it would have your ordinary income tax rate suppose you hold $750,000 in an IRA or 401k and you know what ordinary tax rates are about 24% so you're going to send $70,000 that you're going to get that means a hundred and eighty thousand is going to go to tax liabilities that you're going to do in the future when you look at brokerage accounts would likely occur taxes to even if it's relatively low capital gains of 15% would put you in further then when it comes to your well okay when the things you could do is playing with Roz while you have don't you might be tempted to stash away planned sex with cash and plan and forget about it until you have to take the required minimum distribution in 872 and makes a lot of<br> because it gives more time for the counter crow<br> that might not be the best way to go if your account gets too big you could trigger some Maxi requirement and distribution are going to have to collect Social Security by then the larger retirement could make your Social Security taxable and you know I often hear a lot of people and talk to a lot of people that I think they're getting killed because of the required minimum distribution in their seventies the reality if you're in your seventies there's not a lot you can do about it in fact I have one client I met him twelve years ago he was retired from the postal system<br> pension Social Security that covered all that is his wife expenses back then they have $570,000 Ira I talked to each and every year to convert money over to you don't have to worry about the future here we said to me you said Steve I don't want to worry about that life is going pretty good I don't see any reasons why I should be paying taking out money and pay in taxes well we just had this wonderful conversation about his required minimum distribution he's going to have to take out $67,000 it bumped him up to tax codes<br> isn't that exciting now that also increase the taxes by almost $30,000 and when we finish that conversation because you know what I wish I had listened to you many many years ago my life would be so much easier right now the reality folks it is is people in their 60s have a golden opportunity start drawing down the retirement money while limiting the tax but reality is if you retired you're not much because you're not working<br> you might not have plain Social Security at where you are but you're in a lower tax bracket and if you start taking out requirement of distributions because you have a 59 and 1/2 you're not going to get hit with that 10% tax penalty okay little thing you might want to think about is how to do it properly and that's what you looking at you text back okay so for example if you're in a 12% tax bracket hey the bracket and 40525 if you're buried it is at $81,050 so if you're receiving income from other sources had about $70,000 in your marriage you have $11,000 it'll keep you in a 12% tax bracket that you could take out in convert to Ross<br> or put it into life insurance plan or something like that that would create tax redistribution so if you need to get the money in the future okay it up in that a certain amount take out money up to that amount so you stick with in that 24 bracket and you take a little bit each and every year the key is to have a smaller Ira when it's time to take the required minimum distribution now we did this with one couple where they had IRA distributions Social Security capital gains and they had interest income what we did is we took their interest income Investments and put them into a tax-deferred vehicle which means they didn't have to pay any taxes<br> until they took out the money which they didn't plan to and we said hey look why don't you start taking withdrawals from your Roth IRA so that left the only thing to be really tax on is their social security in their IRA distributions their income was about $83,000 and they are paying four grand a year in taxes to put by taking the rock distribution there he stayed at a 12% tax bracket which meant there capital gains tax on the distributions from their traditional IRA and Social Security and their taxes went from $40,000 I mean $4,000 a year to $41 a year and they belong them to not have to worry about future taxes number one number to put themselves in the position to where they<br> give me in a situation where their ass is actually grown and they don't have to pay the taxes other consideration taking your IRA contributing to a Roth 401 k real simple going to have to pay taxes on the money not a big thing but down the road it will be tax-free there's other ways you can do it you can look at the way you hold the acid okay for example a lot of people will put a tax-deferred asset inside an annuity and a tax-deferred accent does the same thing but if you were to have start that appreciates but doesn't getting a dividend it could grow it out taxes until you sell it then you could use harvesting strategies were if you have the games and you have losses offset them that reduce your taxes if you can stay in a 12% tax bracket you're giving the capital gains are tax-free<br> if you have Bonds in their municipal bonds are federal and state tax for you know so you don't want to hold him in an IRA you want to take advantage of everything you can is what I'm getting it okay so you want to take a look at all those things a lot of people are saying hey I got this money that sitting in a bond or in a savings account okay great that's wonderful but think about it this way<br> right now as interest rates are so low you're actually losing money safely because of purchasing power inflation and the reality is you could use things like fixed index annuities to get the growth of this locked in based off an index anywhere from four six or seven percent which we need far better than those bond yields or even what you get from Bank especially if you don't need the money something to think about I hope this give you some information so you can think about ways to reduce and eliminate your Taps is moving forward especially on those accounts that are fully taxable raise your 401k or kills and sell it so I hope it's helping you want to stick with this because we have a wonderful segment next with Christine Banneker but first I want to say hey score master.com on it thank you for sponsoring us most people don't know this but the average American has 97 points they can answer their credit score but no idea how to get the data scientist<br> adding 97 points to your credit score is like found money it means fast loan approval huge discount low interest rates are you card to apply for credit card how fast is scoremaster what number is your credit score 33 points in just five days another 43 points in two weeks scoremaster so easy just takes about a minute to get started and you know what and if you hurry you can get to try-scorer master.com for free that's right score master.com for free to see how many plus points you can add your credit score to go to score master.com again we have Christine Vandergrift she's going to talk to you about how you can make money<br> for the vacation rental market more expert advice for having a happier relationship with money still to come on the saving with Steve show<br> don't let your financial woes keep you up at night and prevent you from living a life of Financial and personal freedom hi I'm Steve Sexton post of the saving with Steve show where to be talking about the ins-and-outs of money does Financial issues it could be costing me thousands of dollars causing stress keeping you up at night we're going to talk about money tax reduction saving more spending on your investment risk management retirement and everything is so sweet with you having a healthier happy relationship with money soon as you've ever dreamed of living a life of Financial and personal freedom you owe it to yourself and your family to tune in to the saving with Steve show join me Steve Sexton on a saving with Steve show as we talked about everything under the sun when it comes to money to learn more about the show visit saving with Steve. Us that's saving with Steve. Us saving with Steve. Us will see you soon<br> welcome back to the show that is here to help you achieve your financial goals it's the saving with Steve show now here's your host Steve Sexton wasn't his new book about the divisional light and power you want to see that again for Cleveland Affiliates he's running for mayor so you're going to need to vote the next couple weeks hit you might take from taxes to pay heed to that you might want to take a look at that again again you can follow us on Spotify Google play as well as YouTube and I want to think they're over $600,000 for doing it today now our next segment is just one of us as you know we talked about the ins-and-outs of money okay and I just want to see this way and the last year so many people had their vacation plans cancel most of the weekends I know this has been an out in the lounge in the backyard many people are going to travel crazy and they want to get back out in the world as they make their Summer Place<br> and I've already done this I said you had to get him out well out for a vacation rental because of the Privacy the Comfort before durability and it's a unique experience cuz we did this with my son's graduation in San Luis Obispo and it's really cool right next to the beach it was comfortable was nice but the reality is most people don't realize this that Industries blowing up there's a lot of growth there it's very lucrative there's a big window of opportunity and that's why we have Christina Vandergriff now here's a big thing when you have Industries like this you have traditional rental owners who don't quite understand what's going on with it and Christina thank the Lord she just came out with this call baecation rentals the ultimate guide and it's my weld creating speaker with little to no money now one of the things that you're going to realize when we interview Christina she's very educational she's engaging<br> do you understand which is great he's going to demonstrate the regardless of your budget education experience anyone can enjoy generate wealth from a vacation rental so Christina so I'm actually really excited about this until a few friends are like anyway I want to listen to a hard-working go getting woman what got you into vacation rental<br> so the funny thing is I start selling real estate when I was 20 years old and like many other $20 I didn't know what I wanted to do and I talked about it in my book to but I got exposed to people that had invest in real estate and then those who didn't and a lot of my family never invested in real estate so I knew you liked it intrigued but I also wanted to think bigger and the sky's the limit and really try to learn from those around me and self-educate with reading and podcast whenever else as much as I could so I may end up buying my first house most 22 and password a few years got married and had a house of my own when we got married and I decided you know I should just keep it as a rental you know it could be as a back-up plan and a lot of people rush things get married and then things may not work out and then they're like well crap now<br> traditional rental falling in love with it and then my husband and I started down that path of using equity in our own property come up with down payments to buy other properties as traditional rentals<br> the interesting thing is I got to expose both your clients and just you know people in our area that had them to that industry and how much more profitable they could be selling 2018 with my husband's blessing I went to Florida found a house that we created as a vacation rental in did the long-distance you know Property Management thing we worked all the keys out and learn the hard way with a lot of it because you know you don't know until you go down that path what you're going to experience especially something that far away were based out of Pennsylvania and whoever Line and other people a lot the following year we ended up having the opportunity to buy a property near ours that was on top of a hill top private beautiful setting and so we decided you know why don't we try and sell some of our rentals and up size them with our Equity to buy and create vacation rentals you know I went into that one thinking<br> I would be happy one if it broke even because it be similar to a traditional rental but thinking you know maybe it's a little extra money in the bank we can use it ourselves whatever else and literally it was the phone before covid in the shutdown so again a lot of unknowns but it exploded and it was so much fun that we decided to do it with others and at that point you don't local started seeing that we're having great luck they were much more profitable than a regular rental and so that's when I got the idea I need to help others do this because it is fun you know you can start small you can start with just extra living space that you may have on your property already and then start saving and building equity and having all the other traditional you know benefits of investing in real estate to when the first question is who we got from our beer blog was we have a traditional rental how is a vacation rental so much more lucrative than a traditional rental<br> the funny thing is like with a traditional rental you have your monthly cap on what you can charge with your lease and generally overtime you cannot increase them as fast as you would probably like to sew with a vacation rental you have many more people in and out you're keeping a better track of your property while that's happening also do you know a lot of people will stay for two or three nights or we can the nightly rate is just so much more than what you can charge for a traditional rental as a big example the place I called our rent was talking about it's called The Sky High Chalet and if I was to rent that out some traditional rental I would be lucky to rent it out for $1,400 a month they would pay their own utilities and then I pay my taxes and insurance literally could grow anywhere between six and eight grand a month is a vacation rental<br> about a day's and by no means does that rental command that much on a monthly basis but it was a perfect place for us and to hang out go to the beach do all those things have a vino. I totally get that but I don't think people realize the dollars-and-cents a lot of people really concerned about the quality of the people who come in there they hear the news with the house parties and things like that and I think you know when you talk about you hate you learn so what are you big things did you learn when you first started the biggest thing as you want to pop up<br> people made damaged but the biggest thing that I didn't realize until I got into it myself was you can accept or reject people when they want to book your place you don't have to automatically accepts them till you get to write them and they get to rate you so as you have better bookings and ratings you can charge more but then you also can expect to also have more quality candidates from Pass reviews there just a lot safer and I talked about it my book we've had traditional rentals and we have had everything is down from 10 it's catching our house taking care of them to pack damage and all sorts of stuff and like I mentioned earlier you know what vacation rentals either the housekeeping or maintenance or you if you're managing it yourself are in and out of them every few days and so you you guess it kind of shoes who you got to rent your place at the beginning but then they're not in there for very long anyhow so if there is an issue General<br> they're not there as long as I have tenants right now they don't have to pay the rent technically be everything going on with covid-19 in advance and very busy so I guess they're going to be years before somebody can evict somebody just because of the court system in the back up leaving man in like my state California and take somebody 6-8 months if not a year to get them out even if they're involved in the process but with a vacation rental car you have the other Sheriff show up with no money down so he kin folks were talking to Christina Vandergrift you want to be here for this she's going to talk about how to do it and that no money down stick with us we're going to be right back more expert advice for having a half<br> your relationship with money still to come I'm the saving with Steve show<br> did you know the average American has 97 points they could add to their credit score but no idea how to get them the data scientist has scoremaster crack the code on how adding 97 points to your credit score is like found money it means fast loan approved huge discount and low interest rates and everything from buying or refinancing a home to leasing a new car to applying for a credit card how fast is scoremaster one member raise his credit score 33 points in just five days another 43 points in a couple weeks scoremaster is so easy it takes about a minute to get started if you hurry you can get to try scoremaster for free that's right scoremaster for free and see how many plus points you can add your credit score go to score master.com saving that score master.com savings again that's score master.com savings<br> welcome back to the show that is here to help you achieve your financial goals it's the saving with Steve show now here's your host Steve sex today I want to welcome you back you shall we talk about the ins-and-outs of money again I want to thank you for sharing this with your friends family and Associates if you'd like to get some of the replays go to saving with Steve. Us but I think our Affiliates BBS radio UK how they feel it be 360 TV we're all here to help you little life of spiritual and Financial Freedom and if you'd like to get some more replays or more financial chips you can always go to the Facebook page of saving with Steve Sexton we're back with Christina Vandegrift she's been talking about how people can get in and how lucrative they vacation rental market is I have a feeling from what you said it's a little bit easier because you got people that are cycling in and out although you might have to have a cleaning crew there and stuff like that but it's not as bad as getting stuck with somebody for a long. Of time<br> the big question that people been asking is how can they do this with no money down<br> so I feel like one of the benefits of my background is for the last<br> people through selling real estate on how to buy property and you know like I mentioned earlier when we started weed never invested in rentals or anything ourselves so we have to be crated we didn't have 20% down to put on two properties and I talked about it in my book also but there are other ways that you can you know come up with a down payment and one of the biggest ways that we have done it was you know if you find the right property with a motivated seller that you can ask them to hold the down payment the 20% down and finance to 80% and then after a few years studying with refinance that paid off or do something like that I'm sellers like that because they get that chunk upfront plus get a little bit of an income and sometimes for you know their income tax purposes that income spread out over time might be more beneficial than all that one chunk if they would just sell it outright you also you know if you have equity in property or<br> family members property that's another option there's people that have borrowed against there for a while and then it all depends on the seller and right now you know it's a seller's market so there are dollar still out there though the prices have changed but a lot of times I have gone myself to meet with them I'm old school with that stuff shake her hand look him in the eye and it's cool Lane and you get a lot further than blindly mailing them an offer in front of them to see the passion and heart of somebody and say hey there the person they're going to treat this right so I think that's really really really great in this day and age obviously it's a seller's market and things are going very very very well for anybody who selling shoe are there real estate firms out there that Alexi help people with making that deal so they can purchase at Home even though they might not have my next door neighbor for chicks and get<br> put this house on the market for 975 wenzell listed at 8:20 and then it's sold for 1.1 million the funny thing about it is the person who came in there was a firm that he worked with because he was financing 20 or 30% of it and they said he will pay the cash when you get your financing and where to do this in the contract then you'll pay us and they charging per cent or two from it but it was worthwhile so we can actually get the house otherwise it would still be looking in be living in a hotel but do you know about things like that oh my gosh yes and that's why it's so important to find a good realtor you need somebody that's going to work for you and especially somebody that has the right network of connections that can connect you with either salary or even private financing but I actually am a broker owner of a real estate company myself and that is one thing that the right person is going to be willing to help you with this and being a real<br> you get to be such an important part to somebody's future and big milestones and they're they're definitely our agents out there it's time to you know right now like you said things are selling for crazy amounts and everybody's just trying to stay above water and run around like chickens with their heads cut off but it's just having that right personal connection with your agent who understands and believes in what you're trying to accomplish that can make that happen for you I know a number of agents in my area that I always know the ones who sell a lot of homes they have tons of connections they know how to make the property I'm going to say rocks that is because I have one gentleman that he says on the average don't have 25 people come and see a home and I'll have seven offers before the end of the weekend whether it's this Market or another one you know like you talked about having the right real estate agent is so very important that they have those connections to help somebody get the property that they want weather like you talked about private financing and other things I think that makes a gigantic difference and I'm glad you're<br> think about that because there's a lot of people and don't mean you're not everybody's going to start someday but there's some people who do this as a part-time job and don't have this connection right now it's really easy to sell something because all you got to do is put in the offer and if it doesn't pop off for you in the problem is there's a lot of people who might be missing out or they don't realize less come back to him with this counter that counter or whatever to make it work so they don't have that experience it needed to make it work so I'm glad you're saying that Toni and hook you up with the right<br> if you're buying a property in another area they are the kind of information for you know maintenance people property managers potentially and the right lenders to help save you money with interest rates and everything else too cuz I'd like you to talk to you about your vacation rental Academy so how does that work what kind of the agenda for somebody that's going through that we probably had about 25 people to say but you know how does this work videos and downloads with worksheets but for somebody that would actually apply and purchase the vacation rental Academy I teach you from start to finish you know how to find the right property how to furnish it how to get financing for it how to Market it whether you should self-managed or higher property manager and what each of those look like even as far as what the cost is and different expectations out of Marketing<br> and all the operations what websites to put them on how to take pictures how to clean all the ins and outs and it's me personally with videos teaching you with worksheets and downloads endless and from start to finish on how to go live and start making some money could you tell everybody how to go about visiting your website again with a CH - Vandergrift calm.and I have links on there to Vacation all Academy I have my blog on there I have links to my book and Rowan contacts it'll subscribe you can download the free videos for now and then I keep you updated I do plan on launching one-on-one coaching so that if somebody wants to after they've done the academy you don't have one-on-one coaching with me these I do offer that also and it's a lot of fun you know helping other people and building<br> those relationships is how I've done so well with my career as a realtor and then all the other we almost full but I've got to the point where we were having some success and gross and so fast that I wanted to have a bigger impact and that's why I decided to create my course and write the book in and do things like this I think that's wonderful sharing the wealth and yeah that's what it's all about the more people you get out Bobby she'll help yourself but there's a lot of people who can do out one last question before we go how important is location with a vacation rental know you can have<br> our location is not as nice as good or doesn't have the different traction but it's going to change the price right and it's the same with a vacation rental you wanted to try and you know what is special about it the area that accessibility and everything so location is just like his old man goes I just wanted to throw that out there you would be surprised though you know I have so many people even our local area that will say why don't you want to come here and you got to work with what you have and it's all about the marketing and mixtures and you know connections also and I teach you how to do in Chambers of Commerce and had a really market and everything that I'd say he's wrong with having me all sorts of build those relationships<br> vacation rentals the ultimate guide my wealth-creating secrets too little to no money down you can go to a website and Christina dad's Vandergriff. Calm and go to Amazon. Five stars which is awesome you are interested in looking into becoming part of our vacation rental Academy in learning how to do this from start to finish please go there Christine I want to thank you for joining us today if you don't mind me asking you back in the future episodes because I think this is very important once we saw your information about you we start doing some research about the industry and oh my God it is taking off now as and then<br> only going to get busier covid change that for the better you know as Millennials come up through and everything is changing you do Millennials tend to travel that way anyway but now because of social distancing it's really change that and you know I have three boys and I used to be a hotel stay person but it's so much more homey and more portal to travel we have a family or even if you're traveling solo few weeks ago my husband and my kids and I went and did a big loop in New England and we didn't have any plan or agenda and we are being bead random places all over and being on both sides of it it's just so much fun and this one thing I love about our just sold ours in Florida cuz the prices have gone up so much that we were crazy not to but we have wanted Gatlinburg Tennessee also and you know we can block dates and go and use them ourselves and plus get the all the benefits tax write-offs and everything else that you get with regular rentals<br> my daughter goes to Boise State where to go there for a football game and during football season all the hotels you know they usually like a hundred and some-odd dollars a night this small-town football game it's like three hundred bucks but we can stay just outside of downtown and a four-bedroom house for about $120 and you know we got to go out anyway so I just really excited thank you for being here I wish you health and success and happiness and getting appreciate you being part of the saving with you show today thank you very much is one of them ever again if you'd like to be part of her vacation rental Academy go to Christina - Vandergriff. Calm and if you're looking at just getting her book you can go to Amazon to Five star rated book again I want to thank former Center to Dennis kucinich to talk about his book division of light and power and help people to understand how their power rates are getting increase<br> and we can control that you can look into that I want to thank you again for joining us will look forward to seeing you next week this time same place and you guys have a wonderful day we be safe be healthy this is Steve signing off for the stadium with Steve thank you for joining us for the saving with Steve show hosted by Steve Sexton to learn more about the show and how to become a guest or sponsor visit saving with Steve. Us that saving with Steve. Us join us again next time as we continue to talk about everything under the sun that relates to you having a healthier happier relationship with money this has been the saving with Steve show hosted by Steve Sexton<br>