Episode 76 - Building Wealth the Right Way: Khai Clancy's Guide to Financial Success

Episode Summary

In this episode of Cruise Control, hosts Kevin Davis, Chris DiGiovanni, and Grant Menard are joined by Khai Clancy, a 25-year-old entrepreneur from Miami who has been running a successful credit repair business since 2019. Khai shares his journey from growing up in Arizona to becoming a leader in the credit repair industry. He delves into the importance of financial education, the ins and outs of credit repair, and how young adults can set themselves up for long-term financial success. With practical advice and a strong emphasis on authenticity, Khai provides valuable insights on how to navigate the often confusing world of credit and debt.

Key Takeaways

1. Importance of Credit Management: Khai emphasizes the critical role that credit plays in financial health, noting that even small missteps can have long-lasting impacts.
2. Building Credit from a Young Age: Khai recommends starting early with credit building by adding revolving lines of credit and installment loans, and even leveraging authorized user accounts.
3. Understanding Credit Scores: He breaks down the components of a credit score, highlighting the significance of payment history and credit utilization, which together make up 65% of your score.
4. Avoiding Common Pitfalls: Khai warns against the dangers of high-interest debt and provides tips on how to manage credit cards wisely to avoid falling into financial traps.
5. The Role of Authenticity in Business: Throughout the episode, Khai talks about the importance of being authentic and building genuine relationships in both personal and professional life, which he sees as key to long-term success.

Find Khai:

www.flawless.credit
https://www.tiktok.com/@khaiyourcreditguy
https://www.instagram.com/killakhaiclancy/

To learn more about Maxed Out Man and to maximize your potential, visit www.maxedoutman.com or connect with us on Social Media:

Facebook
Instagram
TikTok

Transcript

0:00
you know clients will come to us single mothers will come to us and I hear like my mom's voice in them and you know
0:06
their job their whole goal is just to be able to get a couple of cards and get their kids into a a condo or a town home
0:13
or some type of home that's theirs welcome to maxed out man helping
0:20
you become the man you were made to be hey guys this Kevin Davis from the
0:26
maxed out man podcast I am going to be here with a friend of mine Kai Clancy super excited to talk to this young guy
0:34
um before I get started um I want to remind you go to max out man.com check
0:39
out all the offerings we have there in terms of courses and coaching and all sorts of things I keep mentioning this we're trying to kind of plan a trip to
0:45
Costa Rica to do a men's event um and I've said this on the podcast the last
0:51
several episodes I don't really have a a definitive plan for it yet trying to see whether anybody would be interested in
0:57
doing this could be later this fall in 2024 maybe in Spring 2025 but if you
1:02
want to shoot me an email KD at max out man let me know you're interested and we'll go from there so hey let me give
1:08
Kai's quick intro Kai is a 25-year-old entrepreneur from Miami with credit
1:13
repair business since 2019 growing up in Arizona he aims to help people improve
1:18
their credit and educate them to maintain Financial Health dude I wish that I was where you were uh at 25
1:26
honestly um in terms of knowing more about this credit stuff stuff but um I'm
1:31
super excited for you to be here let me give the backstory and then I'll have you give your backstory but Kai and I met probably two months ago at an event
1:39
called redeemed which was a uh a men's event and uh life-changing for me and
1:44
I'll let Kai tell the story but seems life-changing for him as well absolutely and um it's just been a real joy we
1:52
haven't spent a ton of time together but I tell you what we have has been just phenomenal um these kind of events if
1:58
you've never been to one um it basically condenses like 10 years
2:04
worth of relationship building in like three days and and you know and and
2:09
that's no exaggeration I think it's like you come away from this with new relationships and like really loving
2:15
these guys and really wanting to connect and so I'm super excited to to call Kai a friend and thanks man for coming on
2:21
board I appreciate you I appreciate you I really do and and sign me up for your trip as well because that sounds like a
2:27
blast so you have one one spot filed already but uh what spot nice so so
2:33
there we go on that end but um yeah I mean credit repairs one of those things where I mean I learned really early on
2:40
you get paid based off of you know the problems you solve and so coming out of high school went to college for a
2:47
semester went to a jco wasn't anything special right I mean I I could all I
2:52
could genuinely say I've always had that uh ambition to want to be a businessman
2:58
when people would ask me what I'm going to go to school for it was always entrepreneurial Spirit right
3:04
entrepreneurial Spirit yeah exactly and um I mean what international business
3:10
like what's what's international business right you have no idea and so went for a semester I met a really you
3:16
know great guy his name is Louis Wilkins who's still you know a great friend of mine and uh he's in the real estate
3:21
space um the luxury real estate space in Phoenix and I asked him I said Lou like
3:26
it's almost out of the Wolf of Wall Street but I asked him like I know you're making money like why why are you
3:31
going to to J because I was asking myself the same question but I wasn't making money and so there was no reason
3:37
for me to hop out and uh he told me he was like yeah I made you know x amount of my first deal and respectfully my mom
3:44
said like I want you to get your Associates which you know good job good on him man
3:50
like uh giving her that respect and going back because he was definitely making good cash uh but I just didn't
3:56
have that four years or two and a half years to be able to kind of sit back and hope it was going to work out so um went
4:03
through a little bit of like a transition trying to figure out what I was going to do and where I was going to go and I found myself on Craigslist one
4:09
day dialing this entry-level jobs because I knew if I could get my foot in the door somewhere it was you know that
4:16
was the story it was gonna there was no chance I was going to let off the gas and not be successful there and so third
4:24
call in a guy named Anthony bokeh picked up Anthony had a
4:30
a great personality over the phone and he told me respectfully Kai if I was to send you to the job that you called in
4:36
for you're going to quit in three days and you're never going to call me again but I think that you sound really good
4:41
on the phone and I think you should come and interview for our actual company um and at the time it was corporate recruiting so I had no I no idea what
4:49
that was what a head hunter was um you know how competitive of like a market it
4:54
was or even and and you're like 20 you're like 20 right at this point 18 I'm 18 years old at this time and so I
5:02
show up uh to this interview on a let's just say a Wednesday if I'm not mistaken
5:07
um one of the guys who's one of my best friends now is NK COA bordo he has a great marketing company who we do a lot
5:14
of business with um and at the time he was my manager at corporate job bank so
5:19
at corporate job bank beat out let's just say eight guys is what he told me I really don't believe those eight guys
5:25
but I think that he was just kind of telling me that to put a chip on my shoulder and and I also told them I'll
5:30
work for free you know like they weren't G to pay me uh or not pay me but you
5:36
know they got me in definitely cheaper than everyone else was asking to get paid so um started at like 1150 an hour
5:43
and was getting paid based off of every single person that I would on board to work at this horrible job that I was
5:49
going to go work at ironically so kooa asked me like he why should I hire you
5:55
and I told him the same thing I just told you like hey I don't know what you guys do but if you guys give me direction there's no one that's going to
6:02
work harder than me and I'm going to run through walls for you guys just give me an opportunity and I he saw something in
6:07
my eye that I didn't see in myself at the time and he gave me that opportunity thankfully and we stayed there did the
6:15
records and you know moved up went to another uh larger corporate recruiting
6:20
company at that time I was getting you know other people Cool Jobs and I I saw
6:26
in my eye like okay the guys that were really because I was in sales but wasn't in sales right the real sales in corporate recruiting is being able to
6:33
bring new accounts on and being able to build those relationships and so I was just a sourcer I was just like the
6:38
bottom guy bringing in the the people for the interviews so they could talk to the actual recruiters then I worked up
6:44
to the junior recruiter and during that time I was working with people that worked at Boeing and um some defense
6:52
Contracting positions so they had really cool jobs and great stories I'm 19 years old and I'm just looking at myself like
6:59
really what I want to do you know is this where I want to be right now for the rest of my life and there was people
7:05
at that company that had worked there for 25 to 30 years and I saw how quickly I could go down that same Rabbit Hole um
7:12
and ironically on Instagram was scrolling one day and I saw this kid named Alex SS he was standing on his
7:18
Bentley BGA uh in downtown Phoenix and you know I I don't come from uh like a
7:25
silver spoon right we always I came home would always have food on the table had a house over my head but we
7:31
weren't by any means you know we were like middle class we'll just say that and I'm thankful for um how I was raised
7:38
because if I ever wanted anything I worked for it right uh my parents gave me great opportunities and I'm thankful
7:44
for being able to play like sports and stuff but you know they did their job and my mom she worked really hard um
7:50
when I was in seventh grade she be kind of became like a single parent household and so um things kind of switched up and
7:59
had to grow up you know at a a different age to be able to say like if I want something it's kind of kind of up to us
8:07
um and I mean definitely went off on a a tangent right there a little bit where
8:12
were we at I'm sorry about that no I want to I want to explore that more but you you were talking about your
8:18
corporate so you were looking at all these guys that had with some of these thank you for bring me back I I I want I
8:25
I definitely want to go into that if you want to go into that because I think it's a great part of the story so where
8:30
we grew up right so the reason I was bringing up like you know the the family Dynamic and where we were because I grew
8:35
up in a a an interesting area in Phoenix Arizona where over time it's definitely
8:41
like property values have gone up because of like it being the historic historic district um and so it's kind of
8:47
been gentrified but growing up it was a lot different than what it is today right and so it was
8:54
a a movie to say the least but I'm thankful for that right because it defin like I was was the the white kid that
9:00
was next to you know it didn't matter if you were brown purple black didn't who
9:07
whoever you were orange like wherever you were in life we were friends right because we still rode the city bus to
9:13
school together you know we we had each other's back we all grew up in the same area right um but I was looking on
9:19
Instagram and I'm like okay that kid is in my neighborhood no one has a Bentley
9:25
BGA and he looks young what is he doing right and so I started following him and
9:30
I was at dinner one night and I saw on his story he posted a guy named Tino who
9:36
would later become you know one of my mentors at Tommy sales him post about
9:42
hey if you want a job in sales to be able to learn you know and work directly with me um send a video of why you
9:49
should work with me and I was at dinner at the time with my ex-girlfriend and her family and I was texting him like
9:54
Hey I really want this job but I can't send a video right now he's like do you want the job so I went outside of Olive
10:01
Garden and I shot this video saying the same thing again I don't know what you guys do but if you gave me the
10:07
opportunity to be able to even work with you there's no one that's GNA outwork me um went in and you know there was no it
10:14
was like a real sales job it was a startup company so they didn't have insurance they didn't have all the
10:20
safety nets that the corporate field gave me I had a base but it wasn't a huge base and I was taking three steps
10:25
back but I just knew in my heart I was going to go four steps forward and I I remember telling my dad like I'm going
10:31
to leave this job that I'm making 75k a year at and I'm going to go and make 2500 bucks base a month and I don't even
10:37
know my commission structure but I know that I'm going to be successful there I know it's going to be able to open up some doors and so between you know that
10:45
day that I left and started working with Tino and in the first six months we were able to put up $1.2 million in collected
10:51
cash selling you know events selling mentorship selling education and it
10:56
opened my eyes to being able to have true leaders in front of you um that I'm not going to war with
11:04
anyone that hasn't been themselves ever right that guy he would never ask me to do something that he didn't do himself
11:10
and so owning a business and being an entrepreneur is being able to take what you like from the companies you worked
11:16
for what you didn't like and being able to create your own right and I took a lot of things that I liked from what he
11:22
was able to do with the culture building um the relationship building and was able to find my passion which is credit
11:29
repair find that problem that we're solving and that's what Flawless Consulting has been for the past five
11:34
years I that's I mean that story is awesome what is it that and I do want to
11:40
get into so many of those things but what what is it that you had that innate
11:45
because I you and I um actually probably have a similar little bit little bit of
11:51
a similar background um in a different way but and I think all entrepreneurs
11:56
that I've met have a like hey I didn't come from from money I pushed you know I
12:01
pushed really hard I had this this family situation which drove me what
12:06
gave you that confidence I mean obviously the work ethic is always there right but yeah the confidence I think is
12:14
what you see in people that are good at sales also because it's that relationship building aspect of it that
12:20
you have to have a confidence that what I have is going to solve the problem for
12:26
someone else which is really that's what sales is right and and like but what gave you how did you get to that
12:31
confidence level so there's like two there's two sides to sales and my grandmother taught me uh this first
12:38
trick when I was in seventh grade or this first rule of sales is you're finding a problem right um all sales is
12:44
is you have a solution with your sale and you're finding that problem right but taking it a step further nobody
12:50
wants to be sold everybody wants to go shopping with their friends right when I was in school I would always like I was
12:57
a talker teacher I would interrup that I was always that the one that was just like the Class Clown the guy that was
13:03
chirping that was who I was um and you know they're always like get kind on
13:08
ADHD medicine you know get him to be quiet first off it was just probably parenting I was like the the baby of
13:15
four so my mom was just probably tired I'm not saying that she let me R run rampid but a couple backand would have
13:21
probably solved that problem being transparent but what made me different is what made me successful later on in
13:27
life right um being able to build a relationship with everyone did not matter if if you put me
13:33
in the hallway I was making friends with the person that was also in the hallway or just walking through and I was
13:39
dragging them into the situation in a way right not good but it's just a characteristic that it's either for you
13:44
or against you and I made it for me right um being a leader though and being a sales guy is a little bit different
13:50
than that because you know you're trying to with a sale you're finding that problem to be
13:57
able to you know solve it but being able to teach someone to sell that problem
14:02
and convey that you have that solution for that you know client or whoever it may be is a little bit different of a of
14:09
a uh of like a skill I guess you can say and so being great at sales is something
14:15
that you know you could be born with quote unquote it's definitely a a a tool that you can have that's my skunk
14:21
running back in the background my guy Ollie I apologize you're good I love we we're very dog friendly around here so
14:27
yeah that's the guy but yeah so you can you can have those skills but it's also you know something that um you have to
14:35
be able to look in the mirror and it's there's like an extrovert and introvert and the people that are great at being
14:41
able to be engineers and lock in and being able to be the media guys and be
14:46
on a computer for five to six hours straight because that's what they do they don't want to talk to anyone that's their skill so my skill is being able to
14:53
build a relationship with anyone um and you know truly care right like it's one
14:59
thing because people can see past that um I think that's one thing that is coming out over the last you know couple
15:05
of years is being authentic like there's full Instagrams of people that all they
15:11
do in life is fact check other entrepreneurs fact check others and you
15:18
know if you're not being authentic it might not come out today but you know it will in 10 to 15 years and I'm sure
15:25
there's going to be a point where someone's coming back and listening to this podcast for me and so hope you're
15:31
taking notes no yeah I mean but I mean cuz now if you're watching that guy on Instagram standing on the bentle that's
15:37
rented uh first of all even though are really well made I don't recommend standing on them side Side Story to that
15:45
there was a my wife did these off-road events um and they basically took them through the desert and all that so
15:51
rollsroyce actually did a promo and two of the journalists stood on the hood of
15:58
this Rolls-Royce in the sand it was $28,000 worth of damage to that oh no so
16:06
anyway I don't recommend you staying on hoods but to your point now if you're seeing that you know you can rent
16:12
hangers you can rent you know G5 abut all that stuff and so all of that is
16:17
like this you like I'd rather hear your story right like I'd rather hear like dude I grew up in in Phoenix and then I
16:24
worked my ass off and then I did this and that's that's where I got to because that's the authenticity Gary V's built
16:30
his whole brand around I mean he just uses the FW a lot I don't talk like that but that's
16:37
his that's his authentic self and he's he's worked really well it's worked and loving a team that's not that good
16:42
respectfully so yeah it's okay he's pretty authentic you know you're a huge Jets fan that's how you know you're
16:48
authentic yeah that's funny yeah but side note too I actually my first so I
16:55
my degrees in exercise physiology I have another one in business but I ran health clubs in Phoenix I got my first Club was
17:02
was the camel back and it was called Q the sports club you were probably like three at the time if you were even born
17:08
actually you weren't born because we got pregnant with my first child when we were in Phoenix so before you were born
17:15
and then I had another club in Scottdale so like I actually lived in Phoenix for three and a half years but um but during
17:22
the time where you wouldn't want to go in my neighborhood being transparent down yeah downtown you probably stayed
17:30
away from that part of town for sure yeah you had camack Road right like you had that little microcosm of the
17:36
business people and they kind of hung out and did their theore area yeah yeah bmore and all that but not yeah we the
17:43
Phoenix is it was a rough time back then you know and it was it was interesting um I mean 2008 and I know it okay we're
17:51
talking a 10 year difference but I remember you know around 2008 2009 like Phoenix was hit you know pretty
17:57
difficult I was a horrible recession and hit our family as it hit everyone's out there um but it really did hit like our
18:07
economy Downtown Phoenix was dead you know I remember for five to 10 years it
18:12
was you didn't go down if there wasn't a baseball game or a Suns game you weren't going downtown for anything right and so
18:18
it's been really cool to be able to see um it grow and the night life grow and be able to see you know people come into
18:25
Phoenix from out of town and um add to the economy it's been good it's been really good that's awesome yeah I mean
18:33
it's um having you come from that did you have a desire so you know I have I have a thing
18:40
behind me that says success redefined right so over my life when I was about your age I almost completely blew it
18:46
with my family um we had just had our first child and like I was really good
18:52
at my job but I sucked it I didn't know what to do as a dad and so I leaned into that which is a huge mistake um but over
18:59
time I learned to redefine success right like you know hanging out with I I have
19:05
the pleasure of talking to and being friends with people just like you that make a heck of a lot more money than me
19:11
right right but that doesn't always mean that they're the type of people I want to emulate were you driven by the you
19:18
know as a kid that kind of grew up in that area were you driven by the financial success or just the overall
19:24
lifestyle like what what drove what drove you yeah so I remember my brother
19:31
and sorry for but that's such a great great question and just off top like it's because that question has came up
19:38
over and over again like my brother used to ask me like one's enough enough right um and you know there's Simple Pleasures
19:46
of just going to dinner right because when I grew up there was never a time that I would leave the household get off
19:52
the phone with any of my brothers with my father or my mother and didn't say I love you right or didn't hear I love you
19:58
so I know love is I'm thankful for that um the financial stress I mean remember
20:03
remembering I was probably seven years old eight years old8 to nine years old when 2008 happened right but I could
20:10
remember those feelings and the stress and the conversations that they had about hey we just you know lost our job
20:15
and any of you break your arm on the trampoline we're screwed so no one's going on the trampoline for a couple of
20:21
months until mom has a job okay yeah and I remember those feelings and I remember that anxiety and that angst and so
20:27
growing up I know that that you know going to be able to take just like being
20:32
a business owner is taking what you like and what you didn't like from those it's that's what being a parent is as well
20:38
it's taking what you like from your parents taking what you didn't like and then becoming your own parent right or trying to um and
20:46
so for me personally knowing what love is how do I kind of make like a not a
20:52
perfect life because there's never going to be a perfect life just like we were talking about yesterday how it's a heartbeat and if it's flat then you're
20:59
dead but to be able to have a happy life it's work really freaking hard and have
21:04
some cash and be able to you know have a safety that and when you're going out to eat no one get weird and looking and
21:10
ordering at the like due to the price and not what they're feeling or wanting to eat to make themselves feel good
21:17
right um and so just being able to hold the card up at dinner and not like looking at the check not worrying about
21:23
that tell okay grab another drink if you want to um those are like little keys of success and what is success that's just
21:29
Freedom so being able to be free you know there was a time where like for six
21:34
months I wasn't working that hard with flawless because I was free right I could clock in when I wanted to but you
21:42
know to be able to have like true success and true Freedom um that's a privilege right and so it's kind of
21:49
sacrificing like what you want right now for what you're going to have later and that's even working out that's like what
21:55
Justin tells us all the time right you're not going to see the results today you're definitely not going to see the results today it's gonna take 90 to
22:01
120 days that's just life in general you know as long as you're consistent with it um and you do the David 1% better
22:08
every single day you're gonna see some good success and stuff with that um
22:14
success doesn't chase money money chases success if you're successful in all areas and everything that you do it's G
22:21
to stack up so yeah yeah I mean and I've used the phrase if you're chasing money as your primary goal they'll never be
22:27
enough like to your to your brother's point and he may have misunderstood what your goals were but if that's your main
22:33
objective and and I I mean I was 19 and I was chasing the six figure a year like I was like I'm gonna make a 100 Grand in
22:39
a year you know and yeah the minute that switched um and you know we kind of put
22:45
our backs up against the wall I have it tattooed a dtis fortunity vot which is linting for fa fortune favors the bold
22:52
and I got it before FTX trademark this so I don't want to hear anything from anyone but uh
23:00
it's the truth though right like the people that are you know risky with calculated risks are the people that
23:05
normally come out on top and so coming from nothing no safety net No One's Gonna no one's picking up my rent no
23:11
one's picking up my car bill if you know something goes wrong right um and to take it a step further now I have
23:17
employees that they have children right they have their own lives like one of my guys he has $2,700 in uh child support a
23:25
month you know and like geez Man kids are expensive so as see I don't whoa buddy relax so
23:32
these are my stresses now but I put myself in that position to be able to gain that freedom that is coming you
23:39
know later on so yeah thankful for sure I I I like that that because I've heard that about dinner too what's funny is
23:45
that I'm 51 and I still can't go to dinner we went to some Steakhouse that was
23:52
freaking ridiculous at right the like I mean it's like $400 for a filet and so I
24:00
GRE I grew up like I'm Literal trailer trash like I grew up in a trailer park single mom all of that stuff right so I
24:07
still have not been able to switch that part of my brain off because I'm like that's freaking ridiculous I'm not
24:13
paying right I don't care who's picking up the check but to have that freedom to allow other people to do it or you know
24:21
we've had situations where um you know the tip the bill right like you see the
24:27
see a need in a server and you're like hey here's a hundred buck you know here's a tip for $100 and right you know
24:32
hope those blesses you and all that so that that's a really good way to look at Freedom especially at you know that 25
24:37
and um that's that's really cool appreciate you really do yeah so tell me
24:43
about we talked yesterday before you know we were we were talking about honestly like my personal business debt
24:50
situation and some of the things that we've worked through with that and some of the things I'm still dealing with from you know we all make stupid
24:56
decisions right um you have a great profile by the way if anyone's wondering he has a great he has a great credit
25:01
profile that's the thing it's just education when it comes to it like you look at a three-digit score and you're
25:07
stressed but you know my job uh being into credit is looking at it from an underwriting standpoint right so what's
25:14
in what are the chances that Kai is gonna pay this loan back if I give him x amount of dollars right yeah and you are
25:21
in a phenomenal position um I in my I just just got to put it out there I
25:27
appreciate I appreciate that well we talked about and I want to get into it more not necessarily my personal
25:33
situation which we can talk about that that that I mean we can talk about it I don't really care um but what what I use
25:41
this line and I probably use it on this podcast before it's because it's one of my like cliches right I see so many
25:47
things in the same way that I see Transmissions like automatic transmissions I'm a big car guy build
25:53
hot rods I will build anything on a vehicle with no hesitation including electrical
25:59
but I don't touch automatic transmissions which probably means I need to build one but I'm convinced that
26:05
automatic transmissions are are run off of fairy farts and unicorn tiers like there's some magic dust and what I said
26:12
to you yesterday is that I feel like that credit is that same way and I also
26:18
equated it to kind of our Health Care system which the you know the powers that be right the the credit union or
26:25
the the credit bureaus the lenders all of these kind of use that against the
26:31
average consumer because we simply don't know right like right I've got an 840
26:36
credit score Dave Ramsey said don't ever use credit like all these different it's just this like mishmash so can you just
26:44
ex like and give us the 101 and 2011 and 301 whatever you want to give us on how
26:51
it all works what it is that you do decisions that people should make you know all of that stuff I I just want to
26:57
dig into it so yeah so first off I want to preference by saying you know I'm not a lawyer um so always seek legal counsel
27:04
if you're in a position where you know you're either getting served or you know you're going to be in a consumer lawsuit
27:12
with regards to some type of credit card debt or repossession whatever it may be right but I can only educate you guys on
27:17
what I would personally do and what I have done in the past and you know what works for my clients um credit is
27:23
exactly what you're saying it's an algorithm right it's not it's just like
27:29
building a transmission there's simple steps to it um but just building one transmission isn't going to be able to
27:35
make you a pro at it right so a lot of times there's people in the credit space that fix their own credit fix someone in
27:40
their family's credit and they're like sign me up Billion Dollar company I'm here for it and truthfully gives the
27:48
credit space kind of a bad name because there's not just one way to be able to you know fix a certain profile why I
27:55
wanted to get eyes on your profile and say like hey this is what I would do um only you know educating from my point of
28:01
view and so the main things of credit two main things you have to worry about is 35% of your profile is payment
28:09
history right so within the last three years if it's a 30 or 60-day lay payment if you have any of those and it won't be
28:16
a positive account okay taking it a step further 90 to 120 days is a key
28:22
derogatory which is going to affect your credit as much as like a repossession would or like a closed account account
28:28
for seven to 10 years so those are big no Nos and all payments are going to affect them anywhere between 80 to 100
28:35
points right so lay payments are the plague try to stay away from
28:40
them even just making the minimum payment getting on the phone with your lender um having some type of open
28:46
communication is going to be able to put you in a better position than just silence right they can only you know
28:51
assume the worst we all assume the worst once we you know think of the situation
28:57
um so just get on the a lot of times it's not that bad as well and they're able to work with you they're humans on
29:02
the other side of the line but number two 30% of your profile so 35% is your
29:08
payment history 30% is your utilization for revolving lines of credit which is
29:13
any type of credit card you're going to want to go ahead and keep that under 30% utilization that's 65% of your profile
29:20
right there as long as you keep those two in check um there's no re there's at that point just age in time and you'll
29:28
be able to have a perfect profile so a 700 score or a 750 I apologize is five
29:34
years medium so the oldest to the newest account the medium range of it uh
29:39
perfect payment history and then under 30% utilization two to three revolving
29:45
lines of credit one to two installment loans which is a mortgage or any type of
29:50
you any type of loan that has a start date and a finish date right and you have a you know a set schedule that you have to be able to pay so a vehic a
29:58
mortgage um some type of hard loan things of that nature so like is it is
30:04
it more so obviously a lot of a lot of guys that travel a lot like me right you
30:09
may have you may have a bunch of cards right and even if you pay them off so you're saying you want to limit those
30:15
number of cards or does that there's guys that yeah I I definitely I mean uh
30:21
King Credit he's like one of the guys that I've been mentored by and stuff he would probably suplex me if you heard me say that you want to limit the amount of
30:27
cards you have so but being able to say okay well I'm traveling this is the card that I'm going to use for travel right
30:33
or you know this is the card I'm going to use for marketing American Express gold it's a great card to be able to get
30:39
the gold um for marketing and then being able to transfer those points elsewhere to be you know fly out with Delta or
30:46
yeah you know go to Dubai whatever it may be so you can get a one to one point ratio and all these things you guys like
30:52
these are there's a million ways to fix credit there's a million ways to use credit points
30:58
you can always message me you can always DM me um which I'm sure there'll be like some type of Link or something like that
31:06
and I give free consultations yeah I'll give free consultations and we're always here just to be able to you know kind of
31:12
explain it because you're absolutely right credit is one of those things where you only know what you know I remember telling my mom and dad like hey
31:19
I'm fixing credit my mom having a heart attack like oh man my boy's a scammer he's going end up in Orange and I had to
31:26
like reassure her that the only Orange I'm ever going to be in is heres and you know I'm too pretty to go to jail Mom
31:32
it's not it's not on on the cards for us so yeah I've said that before I'm I'm
31:38
too pretty for jail and my wife is a boxer and I always tell her I'm too pretty to box too so because I have a
31:44
funny shaped nose as it is I don't need to get hit in the face although I will say she has hit me in the face on more than occasion um why did you go into CR
31:53
well we're we're holding mths and if you get hit when you're holding mths uh first of all it hurts because she's got
31:59
a terror like she has a terror of a right cross um but it's your fault
32:06
because you screwed something up if you get hit when you're hitting when you're doing holding Ms but anyway side side note about boxing um what made you want
32:13
to do credit like I like again knowing that the are you trying to bring like
32:19
did you have a motivation to bring like a level of Integrity to the to the industry are you what I saw a uh so
32:26
working in the real estate space um I didn't want to I wanted to be
32:31
different right I didn't want to jump from selling real estate education to getting into the real estate side of
32:37
things there was someone that was doing credit um and I went it was like brokering right brokering
32:43
deals and it just made sense for me I saw the problem that I was solving so Casey Thompson he was at an event in
32:50
Ariz or in LA Los Angeles um four years ago four and a half years ago five years
32:56
ago and I asked him I was able to catch him outside and I asked him like Hey you went from building you know an elsat
33:03
course back in the 90s selling that for millions and then taking that money and building an online gambling like casino
33:11
and then from online gambling you did sports betting for sports betting you did you know a bank for medical
33:16
marijuana right and I asked him like those are the most random things in the world so right how did you how did you
33:23
find your why right he said to be able to be an industry leader you have to solve problem that a bunch of people are
33:29
having right and going into Co I knew that just hearing I mean personally like
33:35
how many people uh could have benefited from having a low interest rate card and for that could have covered
33:43
them for six months right Arizona we were you know shut down for like two
33:48
weeks two weeks to a month if that and our governor was out there at dinner without a mask and stuff so Arizona
33:55
wasn't taking it serious like the other you know parts of the country but I was speaking to East Coast people and you
34:00
know they were really going through it during Co and so I saw I saw that problem that was okay
34:08
well there's never going to be a time where someone could tell me how much my time is worth I'm always going to be able to say that I will spend no more
34:14
than $4 for good coconut water right $5 for good coconut water $1,000 for a
34:19
phone $200 for airpods but my the better that I get with this time and my skill
34:25
set um and just being able able to consult with people I'm going to be able to raise my prices right because it
34:32
doesn't matter it's a 15minute conversation it's the 10 years that I've been able to build and a thousands of clients that I know that I've been able
34:38
to help and so I knew that I wasn't going to have a product or um I wasn't
34:43
going to get into clothing I wasn't going to get into you know coconut water I wanted to have a service I wanted to
34:49
have something that was going to be a consult like a cons consultation based business that I was going to be able to
34:55
help people um there's been time and time again where you know clients will come to us
35:02
single mothers will come to us and I hear like my mom's voice in them and you know their job their whole goal is just
35:08
to be able to get a couple of cards and then get their like kids into a a condo or a town
35:15
home right and then Dave heard because nobody comes and says Kai I want to spend $ thousand dollars in this work
35:21
with you for credit repair right it doesn't happen everyone wakes up and they just want to spend $1,000 on a new
35:27
belt or a new bag but you heard no if you're coming to me no you can't get that house no you can't get that car no
35:34
you can't get that business funding and so for us to be able to genuinely say yes I can help you right and have a
35:39
solution for them we're not selling them snake oil we say hey within this time you know because I feel conversations
35:47
are beat by expectations from the front right so I feel like I paid for a service that I didn't get I feel like
35:52
you guys you know didn't communicate as much as you said you were going to from the jump we tell our clients it's a you
35:58
know realistically a four to six month process but we're trying to get the job done in 90 to 120 days we have a money
36:05
back guarantee that if nothing changes in 90 days we'll give you a full refund and if we go up to six months which is
36:10
the longest my program will go and we don't see at least 60% of these accounts deleted will give you a 50% refund right
36:17
so all all these things were like I said what I saw from other companies that I liked what I didn't like and I was able
36:23
to create on my own um but I knew that respectfully if I had a service that was
36:31
that people were paying for and they paid for it and they got what they you know paid for there's no reason that
36:37
we're not going to be in business today and in 15 years right and that first client is going to send three more and
36:42
those three are going to send us nine and that's how the referral system is you know going to be able to be built we're going to also go ahead and run
36:49
great marketing right so these are the little things that I saw that worked with other businesses and I was able to kind of go into the space um but at the
36:57
end end of the day credit repair today is not going to be the credit repair that's going to be in 12 months right
37:02
the dispute methods that I used back in 2020 are not the same dispute methods that we're using you know today most of
37:08
the time because there's a thousand ways to be able to skin a deer and so you know we want to be able to make sure
37:14
that we're staying Innovative and that we're being effective and because time is of the money right that's time is
37:21
everything yeah I could give you your money back but if I wasted four months of your life when you were supposed to get into a house in May you know you
37:28
can't get that time back and you have to go rent for another year and that's on me right because you paid for his service and so we want to be able to
37:34
make sure that if they're coming into our program and we set those expectations that I feel conversations
37:40
aren't coming later on uh with some validity right because everyone's gonna have a bad day everyone's gonna feel
37:45
like I didn't talk to you enough but as long as you're able to be able to educate these clients and tell them what
37:50
you were able to do um there's no reason that a conversation won't change that I feel conversation yeah yeah what do you
37:58
see how do you see those things changing now I just saw I saw a couple of weeks ago you know obviously the politics of
38:05
the whole thing but it's like we want to limit um you know kind of fiduciary not
38:10
fiduciary but they want to limit the amount of interest that a company can charge you I mean some of these rates
38:16
are 25 26 yeah it really is predatory lending so how do you see that this how
38:21
do you see the whole CR and obviously I don't know what the latest number is but people are carrying a ton of credit
38:27
cards debt you know obviously um and so like how do you see that changing over the next few years it's like a quick
38:34
statistic that I kind of tell people it's pre Great Depression numbers for bankruptcies and subprime auto loans
38:40
being delinquent right so oh wow six 30 60 90 day lay payments repos um it's
38:47
it's not the best right now America was built off of debt right yeah when you
38:53
when you take out an account let's just say with Verizon Wireless when you're getting a new phone that phone is worth
38:58
$1,200 okay or 1,500 bucks they'll take out an insurance policy for $1,500
39:05
$2,000 and then once you charge it off they'll get their money back from the insurance policy okay they'll ride it
39:11
off to Uncle Sam so they got their money back twice at that point that's why they love charging stuff off then you go and
39:18
you can't ever open up a new account with them very few companies like American Express will do like a a
39:25
rehabilitation program sometimes will sometimes Navy Fed those are the big guys but City Bank discover um the
39:32
subprime guys that are you know the ones that are doing the 15 20% 23% interest rates those guys they're
39:40
charging it off and you're never going back to them right and so I can't tell my clients hey don't pay them back but
39:46
they already got their money back twice at that point you're kind of just like getting a lighter and lighting money on
39:52
like lighting money on fire in front of your face and saying I hope it worked you know and you feel good because you
39:58
paid that debt back but you're aging the debt for seven to 10 years from the day you pay it back and people don't
40:03
understand this and so uh you know it's our job to be able to educate people because you know that's where I really
40:09
saw their lack of I never had a credit class in high school in college I didn't
40:15
really finish college as we know so I don't know if it was a credit course but most of the people we have enough
40:20
clients that I could you know uh confidently say there probably isn't a credit course because a lot of people
40:25
would be in a different position uh yeah there's there's free water bottles free t-shirts and then they
40:31
don't tell you that if you here's this you know $3,500 credit limit card they don't tell you you have to pay that back
40:38
like there you you would think that most people would put two and two together but these are 18 19 year old kids that
40:43
have never been taught anything their parents haven't really taught them about it it's a lot easier to to get a
40:49
$100,000 or $200,000 in student loans than it is to get $25,000 for a good
40:54
business idea I know it's so firstand I know this firsthand you know so it's uh
41:00
it's just the truth um yeah but at the end of the day there's a need for it and that only you only know what you know
41:07
and so being able to make this um you know relatively simple like information
41:12
to educate the masses is is kind of our mission um and slowly but surely I feel
41:17
like we're getting the job done it's not going to happen overnight but Rome wasn't built in a day so I'm okay that's right well and it's what's cool is that
41:24
our friend Justin who's been on the podcast a couple times has a great new book um Power of ownership by the way go
41:31
check that out but um he talks about there oh it's right there on the screen
41:37
um but if you he talks about changing the health of the world right by by through that education and and it's
41:44
interesting to think that you can actually have a a big impact in the world through credit repair which again
41:50
is like when you think that you think what your mom would think right like this is scammy and and what's going to
41:57
happen yeah yeah what's the deal so I think that's that's super cool um that you're doing that what kind of financi
42:03
so um you know one of the things that came out of redeemed for me and honestly you were a big part of this and meeting
42:09
you and having conversations with with maxed out man we have really focused on
42:15
guys that are more in my age group more in my state of you know the the time of
42:21
life and honestly God really laid it on my heart that like I have a voice
42:27
experience and expertise to speak into younger men's lives absolutely and and
42:33
so I'm super excited for that and I'm very thankful to have have connected with you um to kind of allow God to
42:39
drive that home in my heart you know kind of a thing but definitely spoken you've made an impact on me I really
42:45
appreciate you I want to make that a public a public announcement that you really have uh just made a huge impact
42:52
on and on where we're going truthfully just with marriage and you know how I'm going to Steward my family so I
42:57
appreciate you I really do I I love that and I'm excited to see that grow as well
43:02
I want so the reason I set that up is because we we have different stages of
43:07
life that we need to make different financial decisions right so based on what you've seen can you just give me a
43:13
couple of pieces of advice for like all right so these are the you know when you're early 20s when you're 35 and have
43:22
a family when you're looking at retirement so if we just kind of do those three right and obviously we're
43:28
not we're not financial planners we're not giving you know Financial advice we'll do that disclaimer here and I'll
43:34
put it on the podcast thing so we don't get sued um but like what kind of things
43:39
should should people be looking for in terms of their decision making you know I'm like I said I'm I'm in my early 50s
43:46
I made some stupid business decisions some stupid debt decisions you know in in my 20s and 30s and 40s even um that
43:54
that I've worked through and I'm still working through but like give us some of those little tips that we can use yeah I
44:01
mean so earlier stages um I think it's really smart to if you have no credit sometimes
44:08
having no credit is worse than having you know bad credit so really kind of just taking a a setback and saying okay
44:15
what's the goal right because you shouldn't ever get a credit card with the intention to be able to go run up a check or buy anything that you know you
44:22
really didn't have any plans to or the money to in to begin with right but I think being able to get money back or be
44:29
able to spend money and then get points it's very important in life right setting yourself up correctly whether
44:35
that be with a with no credit and adding a line or asking you know a family member hey do you have a low interest
44:43
rate card or a high limit card that you're not utilizing a lot that you could throw me on for 60 to 90 days
44:49
right as an authorized user to be able to give them some history I would do that 17 18 years old people will talk
44:56
about about doing it you know with their kids when they're very young that's awesome um I don't really it's going to
45:02
start at 18 right so season the account you're still going to be able to be you know way higher and way more well off
45:10
than a kid that has no credit right so buying either an authorized user uh which you can go through you know
45:17
multiple companies um reach out to me because I will tell you who to go through you won't get them through me but I will tell you what companies to go
45:23
through I haven't signed a deal with them yet so I want to go ahead and not publicly tell say say their name but
45:30
great we'll upate we'll update the notes once those deals are done right and then uh focusing on like
45:37
because that's a revolving line of credit getting a car right or you know a moped something that's an installment
45:42
line um that's you know very big being able to build credit from a young age
45:48
being able to add as much history as you can so that when you're five years in you have a couple of accounts that are
45:53
two to three years old there's no reason you won't be above a $700 at that point if you're able to not overutilize your
46:00
credit right um but a lot of times as a young kid that credit card is an
46:06
emergency right you don't have you're not in a position to be able to you know have two to three Grands sitting around
46:13
um so being able to have a 3,000 $4,000 card is very important and as time goes on you know the older you are the higher
46:20
limit of cards you should have to be able you know just for those rainy day emergency funds um you know I can't tell
46:26
you what investments to make or anything like that because like you said we're not financial advisers but look at your
46:33
plan and the lifestyle that you want to be able to have if you want to be traveling a lot and be away from you
46:39
know your hometown your home state I wouldn't say that you should have a bunch of real estate or airbnbs you're gonna have to maintain unless you have
46:45
someone that is you know maintaining them or property managers or anything like that right um if you don't know
46:52
stocks I wouldn't invest in stocks I'm not one of those guys that is trying to learn a new skill I know what I'm good
46:58
at which is building teams building businesses building companies and so my Investment Portfolio is reinvesting in
47:04
my company to where one day you know we're going to be able to sell for x amount God willing and I'll be able to
47:10
pay people to you know have a family office and that's G to be my investment but for credit right being able to make
47:18
sure that you're setting yourself up um for the worst case scenario you know as
47:23
Christians we talk about it a lot when you're walking with Christ it's always people are like oh hope for the you know
47:30
prepare for the worst hope for the best but uh when you're walking in faith it's always being able to walk and just know
47:35
that it's always going to work out but God gave you these tools and these you know um tricks and tips and made you
47:43
listen to this podcast from a random guy for a reason so you can go out there and have these tools so go out there get a
47:50
couple of cards um and then I want to kind of just preference it with
47:55
bankruptcies right so if you've went through bankruptcies if you've had a bankruptcy I and it's been dismissed or
48:02
discharged uh you can get it removed off your credit profile before the seven to
48:07
10 year mark right so you know I don't want people to look at bankruptcies as an end all be all um you know I I can't
48:16
even imagine the rates of you know suicide after you know bankruptcies and going through that and just because The
48:22
Angst and anxiety that I hear from people that are just getting called by debt collectors right which is predatory as well um you only know what you know
48:31
and so if you have gone through a bankruptcy you you've had it you know any type of stress like that just know
48:36
that there's companies out there even if you don't work with us other credit repair companies that have been in the
48:42
game for a while could you know help you get out of that position um a lot faster than seven to 10 years and you know get
48:48
you back on your feet so it's a it's a good it's a good thing to know I love it I love it and if you're a
48:56
little bit like if you're kind of older um and you're you're still dealing with
49:01
this it's just a matter of kind of getting to the right right person like yourself using your company and saying
49:06
okay this is a situation I'm in or if you're an entrepreneur and you're been having a hard time getting a a line of
49:13
credit you know business line of credit or whatever there may be some some help that you can give also along that way
49:18
right yeah so after the Silicon Valley Bank crashed um you know during like
49:24
covid we'll just say during that time you could add an authorized user and Joe
49:29
scho can go out there and get $30,000 right but after that crash funding in itself really dried up um investment
49:37
companies aren't you know too keen on um like the next Google Facebook meta
49:45
whatever it may be they're trying to be safe um and position themselves so you
49:51
should as well in a way and go out there get a few cards I wouldn't go looking for installment unless you have you know
49:58
A1 credit or anything like that and we could definitely have conversations in the future um if you ever have any
50:03
questions with regards to because every credit profile is different just as every person's different you know what
50:09
works for me will not work for you and that's just you know genuinely the truth um but
50:16
being able to put yourself in a position of even just knowing so if you're if you
50:22
have less than perfect credit and you're trying to figure out okay is this a credit repair company or a debt consol ation company which is lighting money on
50:29
fire debt consolidation credit repair is um just kind of like a rehab center to
50:36
be able to get you back back on your feet for that bad knee um I would just ask them you know
50:42
specifically like what's their goal what's the plan any money back guarantees anything like that um is a
50:49
pretty good indicator and you know if it's a debt consolidation company most of the time they're going to tell you
50:55
it's a 12 to 24 month plan and that you know at the end of it
51:00
um I mean anything under God's green earth to be able to get you to be a client because respectfully these guys
51:06
are you know getting paid 15 to $20 plus commission of whatever you're you know bringing in uh but yeah I mean there
51:14
there it's GNA be a little bit different of a conversation One's Gonna be telling you this is not what you want to hear
51:20
but the truth and then the other's gonna say like hey this is too good to be true in a way I can able to pay this at 30
51:27
cents 40 cents on the dollar um they're not giving you a loan or anything like that which a lot of times they position
51:33
their company to be doing so yeah interesting okay yeah that's good to know dude I think that's a great place
51:39
to uh land the plane as uh as mro always says but um tell us how we find you uh
51:46
where we go to contact you and um yeah let's get that going yeah so on
51:51
Instagram uh Killa Kai Clancy and then flawless stock credit so you can go and
51:58
book an appointment for free either myself or one of my trusted Associates will be able to give you a free
52:04
consultation um but if you're coming from the Pod I would like for you to shoot me a DM on Instagram so I could
52:10
personally hop on the phone with you and we can get you you know get you going either with credit repair or get you
52:16
some loans whatever it may be um but just give you some good education on where to go awesome Kai I appreciate you
52:23
man I think this is awesome and I'm excited to see what's next I know you got some deals Brewing right now and and
52:29
um yeah I'm just excited to coordinate and collaborate as well so have an awesome day man we'll talk soon we'll
52:35
see you soon all right if you're looking to really maximize your life and become the man you were made to be head over to
52:42
maxed out man.com and get your journey started today