How to Attain Financial Independence from Scratch - Episode 74
In today's episode, I’m excited to have Kadeem Leslie with us today. Kadeem shares his incredible journey from Jamaica to achieving financial freedom before 30. He talks about the challenges he faced growing up, the pivotal moments that shaped his path, and the strategies he used to build multiple streams of income. From starting a property management company to investing in vending machines and real estate.
About our guest:
Kadeem Leslie is an entrepreneur, real estate investor, author of bestseller, Full Student, and educator on financial freedom. His companies manage over $7 million AUM. His philosophy of FULL challenges people to live their best year, every year, while maximizing their time, impact, physique, earnings, and happiness in the process. He is also an accomplished cellist, having played for over 10 years and for many heads of state.
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TRANSCRIPT:
Naseema: What's up, my financially intentional people. I'm thrilled to have Kadeem Leslie join us today to explore his unique approach to financial freedom, financial independence, just to learn more about him. And I'm fascinated by him and I'm sure you will be too. So welcome to the podcast. Kadeem, how are
you?
Kadeem Leslie: I'm doing fantastic. Nice to be here. Welcome. Welcome.
Naseema: Thank you. Yes. I'm glad you were able to join us all the way from Buenos Aires.
Let's just dive into just your background, like where you're from. And then what made you go down this path of exploring financial freedom?
Kadeem Leslie: So it's actually very interesting path. I was born and raised in Jamaica. That's where I'm from. And then, my life was my childhood, my, between my teenage years and my younger years were split into two very different [00:01:00] worlds. So you can think of before I was maybe 12 years old, I was, a typical spoiled rich kid.
I went to private school. And then my mom got cancer and she passed and then we became a single parent household and from 12 until the rest of my teenage years that was rough, to say the truth. And growing up in a single parent household for the years where you should be going to college, where, you should be striving in towards, becoming an owl for the world.
That's where I found myself needing money the most and I didn't have it because, there was just, being wiped out by all of those medical bills. It was terrible. And from as young as 15 years old, I decided that financial freedom, was my goal. And I don't know many 15 year olds who have that goal, but that just gave you an idea of just how pressing it was for me.
I decided at 15 that I would retire before I was 30. [00:02:00] And that's what I focused on. I went to college. I knew that there were opportunities at college not to get a job, but to find, people who would, teach me about how financial freedom worked, about how the markets worked, about the, how the economy worked.
And that was really my approach. So that's where it all began. Through real pain it has resulted and I did it. I guess that's more what we can get into.
Naseema: Yeah, I like that. But at 15 years old what did financial freedom represent to you?
Kadeem Leslie: That's what it meant. It didn't mean, like a Porsche, are traveling to Buenos Aires. No. . It just,
Naseema: right.
Kadeem Leslie: like Skittles. And I wanted to be able to buy a Skittle bag every single day.
Naseema: It. And the reason why I asked you that is because I'm sure that has evolved over time. It's definitely evolved for me what that meant. And so I'm just like, dang, like at 15 years old what could you have been thinking? And just And that's just how everybody's path goes. [00:03:00] Like you set off on a quest to achieve one thing and then learn more and grow.
And then you're actually on the path to achieve something that you never even thought possible. So yeah, that's what I asked you that and that was perfect.
Kadeem Leslie: interesting.
Naseema: It was all about a bag of Skittles initially. If you could buy a bag of Skittles, you are financially free. But that is, that's.
Cause there's a
level, right?
Kadeem Leslie: You know what's actually very funny? This has nothing to do with money, but here in Buenos Aires, they actually don't have Skittles.
Naseema: What? I'm not surprised. I'm sure like the focus is more on like chocolates and more of the spicy yeah,
the
Kadeem Leslie: they do have other
candy,
Naseema: Yeah,
Kadeem Leslie: not Skittles. Oh,
Naseema: I'm sure that is very frustrating for you,
Kadeem Leslie: I did
all of this
Naseema: yeah,
Kadeem Leslie: Skittles.
Naseema: all of that, and you can't even buy Skittles. That is crazy. I love it, [00:04:00] but how did you even end up in Buenos Aires?
And I know that you travel throughout the world, but I want to know, like, how did your path take you there?
Kadeem Leslie: The first decision that I made to start traveling was actually in my college library. I was sitting in my college library and I asked the question, Hey, I'm thinking of starting to travel, where would you guys go? And people listed out, I would go to Miami. I would go to California. I heard Marshall beach is nice. I've always wanted to go to New Orleans. And I said, those two sound pretty interesting. So then those were actually the first two places that I went to travel solo. It was New Orleans first. It was the week after Essence Festival. So not too crazy, but people were still there. And then I went to Marshall beach and I was, In Myrtle Beach, the only black person at that time.
It was great. That was the first time that I ever walked into a store that had a wall for confederate items.
Naseema: Scary,[00:05:00]
Kadeem Leslie: It's pretty intense, but that was my first experience with traveling. And then from there, I really fell in love with traveling. I fell in love with
Naseema: but did you go to college in the States
or in Jamaica?
Kadeem Leslie: So that was in the States.
Naseema: Okay.
Okay. Okay.
Cool.
So I
was in the States. I did my bachelor's and I also got my master's, I decided not to do my PhD in the States.
I want to go to Europe one day to do that just because I've traveled enough of the U S and I really wanted something different. In the meantime I decided to travel more through this side of the hemisphere. And so the first place was Panama. I decided not to go through Mexico and come down.
I went to Panama first. So then from Panama going down, I went from Panama to Columbia coming right down until I fell in love with this beautiful city and I just couldn't leave.
Oh, wow. How long have you been
there?
Kadeem Leslie: So I got to Argentina the first time in January, but then I left to Buenos Aires to [00:06:00] go down to Ushuaia, which is the bottom of the world for anyone that loves cars though. And you're in the Bay area, right? So the Pacific highway.
The Bay Area ends in the bottom of Argentina in Ushuaia.
Naseema: Oh, that is in fun facts And I love driving down highway one. That's one of my things that I do on the weekend So
Kadeem Leslie: too.
Naseema: amazing fact. I love that. That's so
dope
Yeah
Kadeem Leslie: I think people underestimate just how beautiful Argentina is because it's really big.
And I think when when people think of, South America, they think of Brazil, but Brazil, the climate I'm not going to say it's not diverse because it is very diverse, it's very big. But in terms of, not climate, but geography of the land, I [00:07:00] think personally that Argentina just has more to offer because Argentina has glaciers.
Argentina has a desert, right? Argentina does have rainforests, waterfalls. Of course, it doesn't have the Amazon jungle, but it has everything just short of that. And of course, the Iguazu Falls is also bordering Paraguay, Brazil, and Argentina right there. I think it's just a beautiful country.
Naseema: That is so cool. I'm a big fan of geodiversity. Even just in the bay area. We have so much, we have. Close to us, we have the mountains, Tahoe, we have the oceans, we have where I live, it's dry as hell, we have the deserts, but just to be able to go like in a couple hours time span to different geographies and explore different areas is like, why it's so beautiful here, why people pay so much to live here too, but anyway, I, yeah, I love that.
But I want to talk more about your path to [00:08:00] like financial freedom. From knowing that at 15 years old, you wanted to just buy some skittles to where you are now, where you're basically retired, early exploring the world, living on your own terms. how did you get to that point? Take us on that
path.
Kadeem Leslie: Okay, sure. I think the, one of the first things that I was able to do was to meet really interesting people who gave me a different way of life, right? One of my first mentors was actually how I came to make the decision to go for financial freedom. And ironically, my path up until that point was to try to be the best cellist that I could be.
I'm a cello player. at one point I was very big, then I decided to go a different path because, of course, this is a question that every musician has but it became real for some reason when this person asked it to me. And the question was, what happens [00:09:00] if something happens to your fingers?
Right. And we know, as, people that push sports or NFL, NBA, we know people, personally, who they were on target to go to the top of the top and then they got injured and nothing else mattered. And it's the same thing with music. If you can avoid being injured, one of the greatest players in the world, Messi, If he had been injured badly, we would never have heard of him.
And it's just like that can happen. And that, I think, just perhaps that person asking me really scared me at 15, even though I knew. And so then, that was the start of it. Now Getting to college, I had to start over. Because, of course I was a cellist, but then when you move, no one knows who you are when you go to college.
So then now you have no income.
Naseema: Did you get like a cello scholarship to go to college, like a music
Kadeem Leslie: [00:10:00] absolutely full scholarship. I had a full scholarship because I played the cello. I worked very hard for that. I must've applied to maybe 20 different schools, 10 came back accepted, two came back full ride. And so I chose the one that I thought I could do really well in. And so I went to that school, which is Seton Hall and won best decisions of my life.
And once I got to that school, I realized I needed money. So yeah, it was a full scholarship, they don't come off food, they don't come with transportation and they don't come up close or winter boots or any of that
just taking on that that typical, hustle mentality that Caribbean people have, we come in, we do everything that we can, painting hoses, walk this dog, I'll do that for you. It's no problem. Just, I need money.
So I'll do it. And then eventually I was like, I can start a company. And instead of, me doing the work, I can pay all the people to manage properties and it could be my company. So then while these people are managing [00:11:00] the property I would just take maybe 10, 15 or 20 percent off of the bottom line and I would just keep the rest.
And then, if I could do that with one place, And it started with one room, which was the room I was originally in. Then, if I could do that with one place, then perhaps I could scale that to more and more properties. And that was my first, I think, pretty big company. I had started other companies before that, but, we don't need to talk about this.
Naseema: Hey, it's about failing forward, but you talked about a mentor that helped you along the way. What did that mentor expose you to?
Kadeem Leslie: Books. So one of the first books, and that's perhaps why I became an author. I'm not promoting. Just ha, First one was Think and Grow Rich. The second was Rich Dad, Poor Dad. And the third was How to Win Friends and Influence People.
The reason why those were life changing for me is that I had never No, I liked reading, but I had never read books that were about the topic of money.
And most people up until that point of my life had used money just [00:12:00] bills.
I never heard of the concept of, buying real estate or even buying a business, or starting and growing a business. That was not terms that were discussed around me. For the most part, people were used to say, Oh, I, I have enough for a light bill or maybe one vacation a year.
That's about what was exposed to me at the time. Never had I heard that, perhaps what some people make in a year, you could make in one month or one week or one day, right? So
After discovering that was possible then, the rest is history. I was like I have to figure that out.
Because once I figured it out. Then, I never have to worry about food again, and that was the, the goal at the time. And then I had just started college, so I got the books, then went to college, then broke in college. After being broke in college I told you I started the property management company, started with one room, went on to multiple rooms, and then went on to multiple [00:13:00] properties, and then what we actually ended up doing was scaling to multiple states, and then, multiple countries, which is actually really cool.
And most of it was digital. Of course, platforms like Airbnb, VRBO at TripAdvisor Booking. com. I think actually Booking. com is. Now, I no longer use booking. com, but we've even used Craigslist before. Just finding ways to fill people's properties has been our specialty. And that was my first big company that brought me to six figures.
And then since then, what has actually been really cool is finding new ways. to take that money, which is, what you hear about people having multiple income streams. It's actually building the first one up really well and then using that overflow to fill up the other costs. It's been really cool investing into different income, right?
It's been really cool investing not only in a business, but into real estate directly. It's been really cool [00:14:00] divesting into other assets. One of my favorites I think is vending machines and no one talks about vending machines, but they're really cool. And what's interesting about vending machines is that most people, and this is really cool.
Now in terms of cashflow vending machines are actually way more than most properties. But not in value. So here's what I mean. With a vending machine, you can buy a vending machine for maybe $3,000. Yeah? Okay, cool. Cheapest vending machine, not the cheapest, but you can buy a vending machine for $3,000, a good one, new one.
Okay, cool. If that vending machine is paying you 500 per month, one vending machine, now that's not a lot of money, but in one year, you'd have recouped Everything that you spent on that vending machine, there is no property that
gives you that. But the opposite is when you buy, let's say a $500,000 house, right?
And you have to see $20,000 into that. You get the same 500 in cashflow [00:15:00] spending five times as much.
That's a really big difference. So then if cashflow is the goal, there are other assets that you can use. Which is what I like to talk about to get you to basically having all of your expenses covered like your living expenses, like your transportation, like your food, so that you can travel and invest and will live a fantastic life without having millions of dollars in demand from the start.
I think that's what's important.
Naseema: I love that. So let me just do a recap. So you're in school you're struggling to make it like realizing that, Hey, you need money to live. And so you start this company. In college that has now grown to make you a lot of money. So while you were starting this company, what were you doing in college?
Like you were still a chalice. You were still like a full time student. Were you just forget college. I'm bubbling on my own. Explain to me what was going on there.
Kadeem Leslie: it's interesting. I think [00:16:00] most entrepreneurs would go with the route of just screw school. And I am a bit of both. I think school is highly overvalued, highly overpriced, and I think most people do not belong in college. I will say that on the books, off the books, it's no problem for me. But, I'll still tell you that there is value in college, especially in the STEM field.
Science, technology, engineering, math, and also healthcare. Those people need to go to college. If you want to be a lawyer, there's no way you have to go to college, right? Of course, some people have been caught without license and they've been practicing law, let's not be one of those people.
So there's still use for college, but there are other people who go to college to try to figure out what they want to do. And if it's strictly from a financial point of view, there are cheaper ways for you to figure out what you want to do. And even if you do know what you want to do,
there's a [00:17:00] financial aspect of college that we don't talk to 16 year olds about, which is that the majority of colleges and the majority of majors do not have a positive ROI.
That's a problem. That is a major problem. And I have no problem, going to study something that you're passionate about. But if you're going to, go to school to study English. And then when you graduate, you're not trying to be an author, right? You're not trying to be a journalist.
The only thing that you can think of with an English degree in your mind is to go back and teach English That's a problem. Unless of course, that's what you wanted to do But then again, there are cheaper ways to do that rather than going $60,000, $70,000 in there. You can do that for $10,000. You can do that for $5,000.
And so then that's what I think So what was my approach to college? I will tell you I've always been a fan of keeping really busy I like keeping busy Because I think some of [00:18:00] the busiest people in the world are still the most productive. And I think they have to be productive because they are busy. And those are the people who value time differently.
And so in college, I will tell you what I was doing in the same timeframe. I started that company. I was actually doing another company as well, which is an entertainment company. Remember, I didn't go to college to get a job. So right off the bat, I was doing a business, starting an entertainment company with a friend.
Entertainment, we just started throwing parties. That was the first thing, but we eventually got to weddings, but it was just parties.
Naseema: Wow.
Kadeem Leslie: It
was just parties that we just
So you know, we were doing parties. And I was in orchestra, I was in a chamber orchestra, I was in a jazz band, I was in student government I was in a club called Black Men of Standard, which is a really cool club at the time, and I'm sure I'm missing, oh, and I was in the army, right?
So I was training to be in the army, so then every day, I had to wake up at [00:19:00] six o'clock to go in the cold and we were wearing nothing but shorts because for some reason, not for some reason, obviously it makes sense. You have to, get used to pushing your body beyond the limit. But I was very cold and perhaps now that's the reason why cold doesn't bother me as much.
But I was also in the army getting up at six o'clock and then student government meetings were at 8 p. m. So I was up at six, not getting to sleep until 10 p. m. So then I basically had no friends for the first two years of my college, and which is very real
Naseema: And you were taking a full load of college courses. Wow, okay
Kadeem Leslie: no time for anything else , but focusing on.
But then you have to remember that at the time I knew that this was my one shot because I was coming from the context of a 15-year-old kid who sometimes at the counter did not have enough coins to afford the one meal that he would eat for that day. [00:20:00] And. All of the parties and all the girls that I, could have dated or all the other things that could have happened or all the trips my friends were doing, none of that compared to the pain I had to relieve.
And so it, it was just night and day. And so that incredible focus, I think, was a gift because then, fast forward at the end of the four years where most of my classmates were looking for opportunities while I was away.
Naseema: You had created all your own
Kadeem Leslie: Yes. And I was very thankful for
Naseema: Yes Yeah, so where had you grown your company to by the time you graduated from
Kadeem Leslie: So by the time I graduated so in, in terms of my personal income, it was in the six fields. That was by the time I graduated by the time I graduated my bachelor's and that was really cool. And by the time my first book came out, so I still had two more years of masters, which is actually really cool.
And up until that point, so backtrack. So there's a bit of context here. Up until that point, I had not been in any of the [00:21:00] southern region of America. And for real estate, that's where all the money is. So then,
the same year I was about to graduate, we expanded into Georgia for the first time. And Georgia has been a fantastic opportunity. And so in that time, my business tripled in the two years during my master's program. And that, that was a fantastic opportunity.
Naseema: You still went and pursued a master's degree, even though you were very successful in your own business you finished your
Kadeem Leslie: I have finished my master's. Yes.
Naseema: It's just funny because you're talking about the value of school and, overrated, but yeah
Kadeem Leslie: So
Naseema: you did it, but you still, you were successful in your own right. So
Kadeem Leslie: Okay. So let me explain. Let me
Naseema: I think it's a beautiful contradiction, but I love it. I'm here for it. I get it. me explain. Me, the reason why I want to get my doctorate, and I hope this doesn't get to the wrong person, [00:22:00] but the reason why I want to get my doctorate is I think when a person with a doctorate tells you that you don't need to go to college, it sounds different.
Kadeem Leslie: I think it sounds different.
Naseema: No, that's me with my double master's degrees being like, please don't go to school. It is not you do
Kadeem Leslie: that.
Naseema: need to go to school. I'm always preaching that and people are like, shut up. You live in school. Yeah,
Kadeem Leslie: what
I personally think. Because I really want to double this down with people is that nothing that earns me money today, I Was learned in school, nothing.
And if your goal is to make money, I think once you graduate high school in today's world, You have nearly almost enough to make a lot of money just because
20 years ago, we did not have the internet.
That's the only reason
Naseema: But what is your goal for going to school though? Like you're saying like you don't need it to earn income. So if it's not about [00:23:00] making more money, what is the goal for you to pursue higher education, even
Kadeem Leslie: it was exactly what I just said, which was because it sounds different.
Naseema: So you just don't go through it just so you can tell people don't go to school just to prove a point, just a
Kadeem Leslie: exactly. But
Naseema: You're like, okay, I don't mean, I don't need to do. You don't have to get all these degrees to make all this money and just approve it. I got all these degrees and none of this stuff has earned me all of the money and all the success.
You are hilarious.
Kadeem Leslie: No, that's precisely the point because that was the premise of Of the first book, which is that I'm going to teach you how to get straight A's. That was the first book. I'm making straight A's.
Naseema: That's the first book
Kadeem Leslie: Right, so I'm it's called Full Student. And the subtitle is how I still get straight A's while running a six figure business.
And the reason why I wrote it that way is because I can show you [00:24:00] how I'm still getting and I was a straight A student, I was. So how can you still get straight A's and still have all this time? Because what it really should be is that schools should be taking the least amount of time possible. And for entrepreneurs, we are systems oriented.
So I can teach you the system for getting straight A's and then you can manage that system and just replicate it. Oh, school becomes easy. Now you don't need to worry about that. You can focus on your business. And I think that's what many entrepreneurs get into is that they don't know the system of learning.
And so then that's what I did. I broke it down into a system and if you did this, you get it.
Naseema: That is so funny. That's hilarious because actually Recently, I've been binging like how to study just because I just want to be more efficient. I love learning. I just don't like higher education systems, but I love to learn. But so right now I'm getting another certification. So I've been binging on better study skills because I feel like I lack that.
So I struggle. A lot in school, I have [00:25:00] ADHD too. And I'm just like, you know what? I have to have a really good system for studying because I actually want to retain this information. And I know that a lot of the stuff that I have learned, I haven't retained. So I think that's very interesting. I'm going to check that book out, but I think that's dope.
And yeah I get it, but I still think it is hilarious that you are getting a PhD just to be like, and you don't need to go to school.
Kadeem Leslie: Hopefully the wrong people don't hear this.
Naseema: You're so funny.
Kadeem Leslie: It's okay. I've said it multiple times. It's fine. I will stand on it. That's why I want to do it because I think many young people have this false notion that once they graduate Harvard, then they'll be somebody and it's just the opposite. It's actually the people who make Harvard and they were already people before they got there.
Naseema: Yeah, that is true. I, this is another aside. I was listening to something and they were just like, it's not really about Harvard making someone it's like Harvard recruiting the people that'll be [00:26:00] like, this is why you need to come to Harvard. Cause we recruited that person, but that person was already something before they got to Harvard.
Kadeem Leslie: Just look at this. Just think about Barack Obama. Okay, perhaps he would not have been president, but do you really think that he would have been working at McDonald's? No, he's Barack Obama. He was going to be successful. He would have been a senator. He still probably would have been, the CEO of some, major, he would have been Barack Obama.
And that's something that you can't take away. And so that's just one example.
Naseema: Okay, so let's bring it back to this financial freedom conversation because I want to understand since then you've had this very profitable company and you've been able to spend that off into multiple investments in other companies, like your vending machine. Currently What are your streams of income and then how are you using that to live your life by design?
Kadeem Leslie: it's actually funny. I don't think people [00:27:00] realize, so I don't have kids. And so traveling solo it's actually not as expensive as people think, right? Because I think most people don't realize that, but It's not possible for most people because of the way that they earn money.
Most people earn enough, but it's the way that they earn money, which requires them to be in a physical location to be able to do that. Remote workers will tell you if you can work 100 percent remotely, then that's amazing. Now, I don't do that, but that's effectively the same thing. And of course that's possible since COVID, a lot more remote workers are doing that.
All streams of income. So we have real estate, no, we have the real estate business and we have real estate investments, two different things, but we have those investments and we have actually different machine businesses. So there's a vending machine business and there's a credit card machine business that was started recently.
And I'm really fascinated about this because then my first experience with hiring people. For [00:28:00] sales from, India or Pakistan or Bangladesh. Now we all know that the big corporations use these people. Like this religiously, but it's been my first time really exploring that as a full time possibility of hiring a sales team From those regions.
And so that's been I think growth for myself as an entrepreneur Because it's not even close about how much you can pay someone in the US versus someone You know in overseas or even the Philippines too You know, you'll hear even minimum wage, being seven, $8 or $7 up to $15 in some places. No, it's $20 here. It's $20.
Okay, great. So it's $20. I think it's, so it was $15 in Jersey, but $20 there. Okay, fine. So for $20, that's equivalent to what I would get for a part time worker for a whole week.
What that's incredible
Naseema: Yeah.
Kadeem Leslie: and so but then what's interesting is [00:29:00] that's more than what they make So it's a win for everybody so because of technology that allows us to do this, I get to pay them more. And because I pay them more, one person, which is how it was for us in the United States, one person being the breadwinner, that one salary could care of everybody in the house. That's what's happening in India right now, which is that one person can earn from a company in the U. S. and take care of their four, five kids and their, perhaps other relatives, which is amazing. I'm really happy I'm able to do that. And so then it's not even close in terms of value disparity. And then you also have book sales and dividend income.
Naseema: cool I love that. I love that. So i'm gonna recap that so you still do your property management company You have your cash flow from your real estate. You have your vending machine companies and you have your pos systems that you sell And then Your dividend income from investing and then your books that you sell amazing, but your cost of living is so low
Kadeem Leslie: [00:30:00] right
Naseema: as well.
So you keep your income high and your expenses low. So just, I just want people like, I don't want to brush over that. Cause that's so expensive. Super duper expensive, but it's super hard to do in the United States. Like you, you just gave the example of somebody living off of one income to feed a whole basically community where that is non existent in the United States.
Basically, if you're not in a two income household, then you are broke. In the Bay area, the poverty level is $120,000 for a family of four. Not everybody makes six figures, and I think people are like $120,000. It's not a lot of money, but like only the top 10 percent of people in the U S make $100,000.
And I want people to understand that Just so you can see like the difference in Like how other countries are living and how we're living and how important it is to make sure That you are doing things to ensure that you are building wealth and how important that is [00:31:00] especially nowadays just
Kadeem Leslie: Exactly. Exactly. And what's interesting here is that Argentina, Is actually going through an economic crisis as well. So it's actually not the best for people who live in Argentina, but if you are from the U S and you come to Argentina, it's amazing for you. And this works not just for Argentina but it, and not just between us, Argentina, but if you're from the U S and you move to Columbia, it's the same from us to moving to Mexico and moving to, countries.
And Eastern Europe is the same, right? Countries in Asia as well. It's the same you're moving from Europe to, Eastern Europe, Western Europe, Eastern Europe, same thing, same kind of idea. But what actually ends up happening is that once you realize Just how little it actually takes for example, okay, so I give an example I was looking at real estate here and I was looking at a three bedroom place with a car garage It was wonderful [00:32:00] location upstairs and downstairs that place It was going for about 500 a month and it comes furnished by the way.
Now that's everything.
Naseema: that an apartment or like a single family like a
Kadeem Leslie: Apartment, it's a three bedroom apartment, right? That's enough to raise a family,
Comes fully furnished. That's electricity included. That's water included, right? All the furniture and it has the TV and stuff. I think you can see the TV right there. So 500, 600 a month three bedroom.
So that's living, right? And then let's say you spend about that on food. Let's say it's 1, 000 and then let's say you just spend another 1, 000 just because. And then, let's say you have, let's say it's 2, 500. That's only five vending machines.
Machines.
Naseema: Yeah, okay, let's Are you comfortable sharing your numbers? Like, how much you spend on a month versus how much you bring in?
Kadeem Leslie: Sure. Sure. My income fluctuates [00:33:00] between 40 to 60. Per month and 4040,000, $60, 0, 000 and I'm spending so most of that goes back into just finding new things, finding new properties and whatever. But I'm spending less than $2,500
That is
And that's really on a heavy month. That's on a heavy month.
Naseema: That's crazy. That gap is insane.
Kadeem Leslie: It is.
Naseema: so as far as like your businesses and how much revenue, like you bring in, how much do you actually pull out of your business versus reinvesting it? And then how much like in taxes do you pay? Like, how does that work as an expat?
Kadeem Leslie: So, That's a good question. In terms of profits, that is just mine that's about half of that. So I keep half and then the rest goes to other people because all the people get paid all the people around the U S and the world.
Taxes then it would be the tax margins.
I think I'm in the 22, 22 or 25 [00:34:00] something tax bracket. And so then I pay that. But the thing is that's taxed. As an you call it sole proprietor, and so because taxes are sole proprietor, for example, when I'm working from an office, this is a business call, all of that is a tax writer. And so because I'm traveling and I'm always taking calls and I'm documenting what I'm doing.
These are all tax write offs. And so the advantage of not being a W2 employee, like my friends are, they're remote workers, is that they work and then they get taxed. I live first and then get taxed on what's left. But then another advantage of why I would encourage everybody to work in real estate, which is actually one of the best things about real estate is that you can write off depreciation upfront.
And so last year I paid next to zero taxes. Because of depreciation.
Naseema: Wow. So it doesn't even have anything to do with you like being an expat and like [00:35:00] being able to file like special exemptions because you don't live in the States for most of the year. I know a lot of people do that as expats, like as long as you are out of the country for what is like
11 months.
Yeah, you know what I'm talking about? Yeah. Using those write offs. You're not even looking at that because just in your business alone, you're able to write off
Kadeem Leslie: So it would make sense to, and again I think one of the advantages of getting into real estate is that there is necessarily, there's not a benefit of taking that right off for me because the benefit, the bigger benefit is where I rather write off that, or would I write it off in depreciation and just get a new property or, get new properties.
Every time taxes are due. I would rather do that because then, taxes aren't avoidable. And I want to make that clear for anybody. They're not avoidable. All depreciation is doing is putting it off. And what you can do with taxes is that you can put it off until you get there.[00:36:00]
Naseema: It's so funny.
Kadeem Leslie: You can't avoid taxes just that the law or, the tax code is like maybe, let's say it's 5, 000 pages, some number like that. And 30 pages are how to pay taxes and then the rest of it is how to postpone taxes. And that's what it is.
Naseema: I love it. Meanwhile, I'm over here paying like 40 percent in
Kadeem Leslie: Yeah. California is crazy. California is absolutely crazy.
Naseema: It's not just California, it's the federal, it's just everything. But, no, but I think that's cool. And I think that looking at an option as to where, I can drastically decrease my cost of living by taking me and my family and living somewhere else. But being able to make income digitally or through, my business is very attractive.
I just want you to share with people how, like what you're doing is replicable. Cause I already hear the naysayers being like I can't really do that. He started his company when he was in [00:37:00] college and, he just got lucky and got really successful.
How are you sharing what you're doing in a way that other people can just follow your footprints.
Kadeem Leslie: One of the that's exactly the question I'm trying to answer right now of how replicable my life, would be because I don't think the path of starting a property management company. is replicable. And I will say that, and I have said it before, I don't think that's replicable. Because, I started with one room, went to multiple rooms, then went to multiple houses.
Many people don't have that option. Now, of course, I could teach someone how to get into property management. It's just that I think there are easier ways. And that's why I talk about machines so much. Because the machine business is pretty straightforward. Now, it's not easy, but it is straightforward.
And because we know that we can use other people's money, you don't have to put your own money down. And I [00:38:00] did the same thing with property management. You can use other people's money. If you just getting, your 0 percent interest business credit cards or getting a line of credit from the bank or borrowing it from somebody that, just ask them, Hey, could I get 10, 000? Use the 10, 000. But then as we know, you can get that from business credit and that's what I talk about too. I, it's so interesting is that. When people say, Oh, that's impossible. It's I have literally, I remember that it's so funny. So quick story. I was in the line with somebody who were in a restaurant and I was talking to them about business credit.
And I say you have a business, but you don't have business credit. And I was telling them about American express. That's one of my favorite banks to get. And I told them about the blue business plus card. And they said If you are saying that you can get me 0 percent for 12 months, at least 5, 000 right now, I believe.
And I said, no problem, we'll [00:39:00] do it in the line. No, I had never done anything like that before. That was a bit of pressure. I got him 6, 000. 0 percent interest between the time they took to go from the back of the line up to the cash producer.
Naseema: No, but it's about, I love that. I love
Kadeem Leslie: It was because at that time I was so into, credit and it was top of my mind. So almost everybody I met, I was talking about business credit because I was like, Do you know about this? This is amazing,
Naseema: I didn't know this little thing, like they'll just give you money, zero
Kadeem Leslie: Right. And so then, okay, so then the formula is okay.
So then if we can acknowledge just off the bat, if we can acknowledge that it is possible to go and get money from the bank which is, why everybody talks about getting your credit in order, but then even if your credit isn't in order, you can repair the credit. And then it is possible to go and get a few thousand dollars from the bank.
Let's say it's $6, 000. Let's take $10, 000, [00:40:00] done that before. Let's say it's 15, 000. Let's say it's $25, 000. Done all of those before. Let's say it's just enough to get one vending machine. Okay? Okay, cool. One vending machine, as we know, is $3,000. You take that $3,000, you go and put it in a location, can be a vending machine, can be a car machine, can be an ATM.
You put in a location that can earn at least $500. Within six months, you have recouped all of the money that you invested into the vending machine, card machine, or ATM machine. You go do it again. Within one year, you have done that twice. That's an asset that's generating a thousand dollars. Now, is that life changing money?
No. Can you retire? Probably not. Is he going to change your family? Probably not. But You now have a thousand dollars that you are not working for. That's 12, 000 a year. So then, no, the 0 percent interest is up. You still have the asset, but guess what you [00:41:00] do have now? You have income at 1, 000. So then now, a thousand dollars a month, three months after that, you can buy a new one.
Three months after that, you can buy a new one. You can buy a new one by year two. If you're following the plan, you have four to six machines, four to six machines. Let's say it's five machines. Five machines earning 500. That's 2, 500. That's what I spend every month. Surprise! In two years,
Naseema: go.
Kadeem Leslie: travel.
Naseema: You replace your income that you're you make
Kadeem Leslie: And if you have a job right now, it's actually easier because then now you don't need to wait until you're breaking even. You don't need to wait until the credit card pays you back. You can go out and get two or three. With your job that you have right now, and then you can speed up the process.
It's not that difficult, but it does require a new way of thinking about money. And that part is difficult.
Naseema: That is a very difficult [00:42:00] part. That's the part that people struggle with, but the thing about, okay, so I know most of the people that have had vending machine companies and I know, like the major complaints for them is find number one, finding a location, then servicing the machines and the maintenance of the machines, those things become issues.
How do you work around those issues? Cause I know you have machines all
Kadeem Leslie: So easiest way is one, hire really good people and always buy new machines. It's really that simple. If you buy new machines, they're going to last longer. And usually if something breaks, it's only one thing that's breaking. And it can be solved because there are experts. Right now I will tell you it's much easier to hire people when you have a lot So then the goal is to get to a lot and then once you have a lot then you can hire a lot more people and it's the same as card machines The one thing I like about card machines is that unlike vending machines card machines they don't break There's nothing to refill, and that's why I like card machines What is actually interesting is that [00:43:00] Bitcoin machines are actually new.
I don't have any but that's another opportunity. They're just more expensive
Naseema: So you have a system in place, you have people to manage your machines at volume. but where are your machines located then? They're just not like all over the place.
They're where?
Okay okay, so you're in Buenos Aires and you're managing this because you put together a team that comes in stocks of in the machines.
They maintain it and they do everything and then they just the money just is it like a car system? So you just get that
Kadeem Leslie: right. Exactly it's the body is in my bank account But what the key thing there again is the reinvesting and that's the part I don't want people to miss the only reason why that happened because let's say for example I stopped at four machines and that was it then it wouldn't be happening.
And so then now the trick is now you're using that money to buy real estate and then you use real estate money to buy apartment buildings. I don't have an apartment building yet. But that's how people get bigger. And so then once you have the machine that you can outsource yourself [00:44:00] and you can hire someone, okay, so let's say five machines, you have 2, 500, but you need to pay someone 500 a month to restock.
So then now you're back down to 2000. To get back to five, you just need to close maybe one or two more locations. So then go do that. And then once you have that, no, you need one other person, which is where India comes in. One person that is on the phone cold calling businesses, restaurants, nail salons, barbershops, strip clubs.
Elderly clearing machine facilities. All of these places, call in, they're in Dale. And then once you find those locations, someone else will go put them in, and then you just have two people running the entire operation. Pretty simple.
Naseema: I love that. So you have your sales people finding locations for your vending machines, also finding locations for your credit card
Kadeem Leslie: Exactly. You can use the same people for both. Different scripts, obviously that's Script writing is a different skill, but it's not hard to do that, especially because we have ChatGPT today. [00:45:00] Yeah, it's
Naseema: Yes. I love it. I love it. And I just. I really like the model. I really like how you're just like, look, this is replicable. It does not take a lot of capital to start. Even if you're not starting with business credit, like a lot of people have 10, 000 sitting around, that's not doing anything for them.
And to be able to take that and to build something where you're reinvesting back into it so that, in a matter of two, three years, you're able to build something that replaces your income. It's not just one thing. I love that you're saying like you take that money and then you reinvest it into your stocks, your reinvest it into properties, like you, you create this kind of like ecosystem
of,
cash flow the, and it's diversify in itself so that, if something isn't, Going right in one month, you still have another source of income.
So I just, I love the example and I love the practicality [00:46:00] of it. And I love that it's so easily attained by practically anyone. So I think you've done a great job of explaining how replicable it is and making it approachable for most people to understand. Cause most people can't even wrap their head around, like when you said 20 to 40, 000 a month in revenue.
They're just like, what? Like, how do you make that? But yeah, I think you've done an extremely good job in letting people know Do that and I know you have books about this. Do you have courses or anything? If people wanted to work with you, how did I get in contact with you?
Kadeem Leslie: My Instagram is iamkade underscore or you can just look up my name. Kadeem Leslie,
Naseema: And I'll put it in the
show notes.
Kadeem Leslie: Of course. I'm not here to promote anything. So you can just, feel free to reach out to me. Just, it's a wonderful talking to you Naseema. I'm sure we'll meet again in the future.
We can talk with some more about this. Really, it's just about thinking in systems. I think just like how we were talking about, the first book, just [00:47:00] coming up with a system for studying that you can repeat. If that's the same thing that, I learned from McDonald's.
Anywhere you go in the world, it's the same McDonald's, it's the same, if you were wondering, in Argentina, tastes the same.
Naseema: have different staff of the McDonald's around the world has different things,
Kadeem Leslie: they do, they do.
Naseema: They
do,
Kadeem Leslie: but a quarter pounder will taste the same. You see what I'm saying?
So then once you have that quarter pounder system, it's just about replicating it because you can't replicate a job, but you can replicate a unit. And once you have a unit that earns a certain amount, All it is, it's finding different ways to replicate that unit.
And if that unit earns a thousand, 500, 200, 10, 000 It doesn't matter. All it is, it's replicating that system until you reach the desired amount.
Naseema: love this, Kadeem. And I love that it's not about promotion here. It's really about just showing people what's possible. It's about changing people's [00:48:00] mindset around money, because once you start understanding what's possible and what's possible for you, and then surrounding yourself with the people that are doing those things, it really is the biggest difference besides like doing the actions.
People are always like what is the first thing that I can do to make sure I do X, Y, and Z. It's really not about that. It's really about changing your circle of influence. It's really about understanding what's possible for you. And then you. Once you're aware that's possible, you start being able to take the actions that are the lasting actions that are going to put you on the path to financial freedom.
So I just really appreciate you being here because you have just dropped so much knowledge. I could tell just like how smart you are just like in the
Kadeem Leslie: No, it's just the It's just the glasses.
Naseema: right. You are so funny, you love to learn, but the things that you are doing is phenomenal, but it's not hard.
These things are not hard. [00:49:00] And these things are available. So I really appreciate you just coming and sharing and letting people know what's up. And then an aside, I got a question that is ever related to anything. Do you speak
Like my Spanish, like my labor and delivery Spanish, like empuje, or you like are fluent.
Kadeem Leslie: I'm not fluent but to survive, I have had to speak Spanish. I can order food, I You know, I can make friends, I'm surviving but yeah, I started speaking Spanish just last year you can, I guess what I would sound like is, like a four year old, that's how I sound.
Naseema: I love it. I love it though. And the other reason why, first of all, I was just joking around, but I also like to let people know sometimes they're uncomfortable going places that they don't speak the native language. And I'll just tell people that is just an artificial barrier.
You can learn. Plus, mostly the places speak English. Plus, there's Google Translate. Get out and explore the world. It's not putting up all these barriers, and it's just another barrier to achieving the life that you really deserve, like [00:50:00] that you might not even know is possible for you.
Kadeem Leslie: Very safe,
Naseema: I just
like Very safe,
That's another thing. People are like, Argentina, isn't that where they have the cartel,
Kadeem Leslie: Buenos Aires is safer than New
York City.
Naseema: West Oakland, I'm from West Oakland. Okay. People was getting popped on the bus going to school. Okay. Stop playing like you guys don't experience massive amounts of violence. Like the things that we experienced here in the US and people are always like cringing, like it's so unsafe in those countries.
I'm like,
Kadeem Leslie: It's
unsafe
Naseema: kids have to go through. Exactly like the drills that my kids have to go through about active shooters in school. It's ridiculous. I just did a training for my hospital about active shooters. That was terrifying. You know what I'm saying? And I'm just like, and people are so afraid.
And I know this is an S. I, and if you guys want to stop listening, I understand, but I'm just saying this is like crazy. Like the things that we tell ourselves about why we can't
do certain
Kadeem Leslie: [00:51:00] It's
Naseema: And how we do the rest of the world. And then saying, so I just encourage people to get out as much as possible to change your circle of influence as much as possible.
Because there's so much out there and people are selling themselves short and it takes just a little bit of discomfort in order to change, just a tiny bit of discomfort in order to change your trajectory and your kids trajectory. And again, Kadeem, I really. Appreciate you being here just to show people what's possible because, we all need to see it and we love to see
Kadeem Leslie: And thank you. I'm a big fan. I'm a big fan of you. Great. Just what you do. I love it. And
Naseema: Oh, you're sweet.
Thank you so much, Kadeem. I appreciate you being here.
I'm going to drop your handles and stuff in the show notes, and I hope people reach out. And we'll definitely stay connected, because you've got gems, and I know I can learn a lot from you.
Kadeem Leslie: Likewise. Likewise. I see what you're doing, just, having your own podcast and you're not in and of itself. That's hard. So kudos to you, man.
Naseema: Thank you. I'm glad you [00:52:00] appreciate that, because every day I'll be like, I should just quit. I would be so much better.
Kadeem Leslie: please don't. Please don't.
Naseema: People don't understand the work that it goes into
Kadeem Leslie: no, it's a lot. It's a lot. And, just a word of encouragement to you is, look at um, Club Xie Xie, right? And then look at Alex Hormozy those two guys. And they were doing it for years. And then one interview or one season changed everything.
And it's really the five years that it takes to get to that season. It's but then after you get to that season, it's Oh my God,
Naseema: listen,
Kadeem Leslie: this is what I envisioned. But it's tough to get there.
Naseema: you know what? I don't envision any of that. I'm really just if one person can take a lesson and apply it to their lives, I'll be happy. I don't wanna be famous. I don't aspire to any of that. , , but it's hard.
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