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April 5th, 2023
Something I’m Reading
I’m still reading “Simplicity Parenting” by Kim John Payne and Lisa Ross and loving it. Also listening to some podcast about AI and the dangers there, specifically : Eliezer Yudkowsky (Dangers of AI and the End of Human Civilization).
Something I Photographed
Here are the goals and habits I’ll be tracking this quarter in the BetterLife Tribe (BLT). Each quarter, we pick three goals and 5-9 habits to track and to be held accountable to within small groups. I hit 3/3 of my goals last quarter. Let’s see if I can do it again this time. (For more info on the tribe, or to join the waitlist, go to www.ABetterLife.com/tribe )
Something I’m Excited About
A few weeks ago, I shared that my first ever Real Estate Investing Summit in Maui would be exclusive to members in my BetterLife Tribe. We had so many Tribe members ask to bring their spouses and business partners and so many non-BetterLife Tribe members have asked to join the event so... we decided to open it up to everyone! I’ll be speaking alongside David Greene (#reunited), Jay Papasan (author of the book “The One Thing”), AJ Osborn, and over 15 other speakers. Were making this event dual track meaning we have sessions for both new and experienced investors. To learn more and register, check it out here. P.S. If you’re not a member of the Tribe yet, we have non-member pricing. BUT if you join the Tribe down the road, we will refund you the difference between the member and non-member ticket price Call it a Behind the Beard secret.
Something I Can Answer
I’ll be answering two questions asked by a BTB subscriber. Have a question you want me to answer? Reply to this text with your question!
Question: “How can I overcome self-doubt and build my confidence as a leader?”
Self-doubt/self-confidence, in my opinion, usually comes from reinforcing behaviors over the long haul. When you fail over and over, your self-confidence is gonna drop. When you win over and over, it’ll rise. So, how can you win more often? Three suggestions:
1.)Stop doing things alone. Work with people far smarter and more experienced than you , until you’re an expert.
2.)Learn more. Continually educate yourself and become world-class. If you aren’t the #1 smartest person on your topic, you have more learning to do.
3.)Win in small ways. Make your bed, organize your office, take the dog for a walk every day. As you build consistency in these little areas, you’re going to build confidence in yourself in all areas.
Question: “What do you see as the biggest challenges facing the real estate industry right now?”
In one word: the US Government. And this isn’t a political statement. The US government (and specifically the Federal Reserve) has a tough job to do: they need to balance fighting inflation (which they raise interest rates to do) and trying not to destroy the economy too bad (which raising interest rates can do). But they have made it clear that they WILL hurt the economy in order to keep inflation down, and they'll do so by keep raising rates.
So the risk we have as real estate investors is not knowing when those rate hikes will end. Now, just because rates go up from the Fed doesn't mean that mortgage rates will go up. But for the past year or so, we've seen that happen. So should we not invest? Should we sit on the sidelines? I don't believe so. I think we just need to be smart and keep a long-term perspective in mind: long-term debt, low LTV debt, and choosing markets where the long-term outlook looks like growth that will help offset whatever the Fed does.
Something I Recommend
Many of you know of my performance coach, Jason Drees. Jason has been my coach now for over 5 years and has helped me personally overcome some limiting beliefs, scale my business, and hit some crazy goals. He’s hosting a free workshop to help with goal setting and mindset growth. You can register for the workshop and learn more here.
For my health-conscious friends (or those trying to be healthier), I’ve been using MyBodyTutor for years for accountability on my fitness and diet. These guys assign you a coach to hold you accountable, track your food, suggest exercies etc. You can check them out here.
Disclosure: “Some of the links in this post are affiliate links, which means I may earn a commission if you click on the link and make a purchase. However, please note that all opinions expressed here are my own and I only recommend products or services that I have personally used and found valuable."
Your Friend,
P.S. Comment below and let me know your thoughts on this week’s BTB! Please be friendly :)