218: Freestyle Friday | BYNU Professor Profile: Randy Molland

Randy Molland, host of Thursday’s BYNU live trainings on personal finance and investing talks to your host Travis Chappell about using good debt to make you more money and why real estate investing is critical to living with financial freedom.

Here’s what Travis and Randy discuss in this episode:

  • Randy gives a high-level synopsis about creating passive income through rental properties.
  • The main motivator to starting the educational part of their business is to educate people and support themselves.
  • What Randy and Steve’s meetups looked like and how they monetized them.
  • The meetups serve several purposes:
    • Helped Randy and Steve learn at an accelerated rate.
    • Separates them as experts.
    • Accountability
    • Donation to charity
  • Growing the mission is what’s getting them excited right now – educating baby boomers on what retirement looks like.
  • Randy teaches at BYN University because he has a passion to get his message out.
    • Real estate investing and passive income.
    • Personal finance information.
    • Learn house-hacking through real estate.
    • Leverage your friendships and partnerships.
  • Build your credit to make split-second decisions knowing you’ll have financial backing.

3 Key Points:

  1. You have to learn a different way of investing other than just saying.
  2. You need money that generates cash flow every month in retirement.
  3. Using debt the right way is super powerful.

Tweetable Quotes:

  • “You can live a more fulfilled life by living off the passive income from your rental properties.” -Randy
  • “Equity in your home is dead money unless you put it to work.” -Randy
  • “If you figure out how to use debt the right way, it can be very beneficial to you.” -Travis
  • “Don’t be afraid of credit, learn how to leverage it to make more money.” -Randy

Resources Mentioned:

  • Visit Travis’ website at Buildyournetwork.co
  • Join the Build Your Network Facebook group BYN.media/fb
  • Join the Build Your Network University Facebook group here byn.university.
  • Find Randy on Instagram @RandyMolland @the_reinvestors

 

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