‘Millionaire Maker’ opens coworking space in Zephyr Cove
A financial coach, speaker and self-described “Millionaire Maker” is transforming her Zephyr Cove conference center into a coworking space.
Loral Langemeier, founder of the international money mentoring company Live Out Loud, announced the creation of Your Nevada Workspace this week — a place she envisions to be more than just a spot to hook your laptop up to WiFi.
“People aren’t just going to work here, they are going to learn how to get wealthy here,” said Langemeier, who has written five advice books on making money and made appearances on CNN, CNBC and Fox News Channel, to name a few.
In addition to private offices, shared work areas, and access to audio and video recording studios, Your Nevada Workspace — located across from Safeway in Round Hill Square — will offer workshops for its members.
“We are going to teach them all about how to use Nevada tax strategies, so we really want to pull on the California businesses who way overpay taxes. We’ll have tax council for them and entity council and insurance council and mortgage. It’s all here,” said Langemeier.
Since purchasing the building in 2006 and completing renovations, Langemeier has used the space to host events and training programs designed to provide financial and entrepreneurial education.
“The first five years from 2007 to 2012 we had probably about 140 to 150 people through here a month,” said Langemeier.
“Mostly this has been a conference center for high-level mentoring and teaching people how to be millionaires, investors … They learn how to raise money for their companies. They invest in other people’s companies. So it’s like a Tahoe ‘Shark Tank’ that’s never gone live to the public.”
Langemeier attributes the shift to a coworking space to a desire to travel less for work — she’s been everywhere but Antarctica — and spend more time with family.
Live Out Loud has been around since 1996. Langemeier travels all over the world hosting events and offers programs like “Fast Cash Coaching,” an online program teaching how to create a profitable business, and Loral’s Big Table, a year-long mentorship program that promises to give “all the tools to propel your business to seven-figures and beyond.”
And while these programs have received their fair share of praise, they have also brought Live Out Loud into a handful of legal battles.
Live Out Loud has been sued several times for alleged fraud with some cases ending in Langemeier’s favor and others resulting in settlements for the plaintiffs, according to the Tampa Bay Times.
In a 2010 case, a South Carolina couple claimed that Live Out Loud coaching cost them over $2 million, while Langemeier promoted “highly risky, unproven investments from which she received undisclosed kickbacks.” A settlement was reached the next year.
On the other hand, Langemeier has received praise from mentees and industry bigwigs like former Rita’s Italian Ice CEO Jeff Moody.
“Loral is the kind of person who sees what potential lives inside of you and your business and then leads you to draw that out yourself,” reads a testimonial from Moody. “I feel very fortunate to count her as one of my mentors, and absolutely believe that I would not be making the personal and business progress that I am without her guidance.”
Lawsuits are par for the course when money and publicity are involved, added Stephanie Hylton, Live Out Loud marketing manager.
“Along with fame, fortune and high profile comes the risk of being subjected to lawsuits. As a wealth educator, Loral teaches ordinary people how to generate cash, build wealth and how to conduct their own due diligence (research on potential investments),” wrote Hylton in an email.
“Although it is strictly educational advice and not financial advice, it is sometimes misconstrued.”
So is Langemeier’s “Millionaire Maker” coworking space the answer to bolstering Lake Tahoe’s businesses? Time will tell.
For those interested in finding out more about Your Nevada Workspace, a grand opening is scheduled for Tuesday, April 25, from 5-7 p.m. Information on pricing is available at http://www.yournevadaworkspace.com.