August 14, 2024
Something I’m Reading
I’m currently listening to "The Anxious Generation”. It’s a new book that’s out right now and it’s super terrifying.
Something I Photographed
Wilder recently learned how to send me a text message from Heather’s phone. This was the message and photo he sent me while I was at the gym.
Something I’m Excited About
The Maui Masterclass is back! Several years ago, I started hosting masterminds here in Maui with real estate investors. It was a lot of work to put on, and I got busy, so I stopped hosting them. However, I recently was reflecting on how many of my closest friendships and business relationships are with people from the mastermind. So, Tarl Yarber and I are bringing it back at the end of September for 4 days of fun, networking, and intense masterminding. If you're an established investor, would love to have you apply to join us. It's not cheap, but I promise you'll make some lifelong friends and improve your business in the process!
Something I Recommend
I learned the hard way that managing tenants can be a nightmare without the right tools. That’s why I now use TurboTenant. It simplifies everything from background checks to credit reports, so I can avoid problem tenants from the start. Plus, it helps with marketing, custom leases, and automatic rent payments, making my life as a landlord so much easier. Don’t make the same mistakes I did. Use code Brandon10 for 10% off at TurboTenant.com/betterlife."
One of the most powerful tools in real estate is something surprisingly simple: a handwritten note. In a world full of emails and text messages, a personal touch stands out and gets results. Whether you're looking to buy your next investment property or reach more potential sellers, Ballpoint Marketing handles it all—from building targeted lists to crafting and sending personalized notes. Their 'done for you' service has been a game-changer for my business. For up to 15% off, visit BallpointMarketing.com/BetterLife. I don’t earn anything if you buy—I just believe in the power of their work.
Some Thoughts to (Hopefully) Make Your Life Better
Here’s What Actually Holds People Back from Becoming Wealthy…
It’s not that building wealth is difficult.
It’s not that it takes forever (though it does take some time).
It’s not failure, the economy, or even a lack of motivation.
The real obstacle? It’s often just the lack of making a decision. That’s right—decisions are the gate to the castle of success; they are the clog in our pipes. If we can open the gate, or unclog the pipes... success begins to flow.
Now, most people have a vague idea of where they want to go with their wealth (“more”), but they haven’t decided exactly how they’re going to get there.
This hit me hard recently as I reflected on my next purchase. I’ve been “planning” to buy a property for my son, Wilder. The plan is to put it on a 15-year mortgage and let the tenants pay off the loan over the next decade and a half. But… I’ve been planning this purchase for several years now. Finally, over the past week, I realized something:
The only thing holding me back is a few simple decisions.
I’m running a small mastermind called “First Deal,” where I’m helping beginner real estate investors land their very first property. As part of this, I encourage each member to fully decide and commit to their “Crystal Clear Criteria” (CCC), which includes:
The Strategy You’ll Pursue
The Location You’ll Buy In
The Property Type You’ll Acquire
The Condition You’re Willing to Deal With
The Price Range You Can Purchase Within
The Profitability (i.e., what metrics would make it a “good deal”)
In coaching this group through the process, I realized I hadn’t yet decided on my own CCC. And that’s what was holding me back—it wasn’t anything else.
Decisions are like clogs in our pipes. When we continually seek clarity, we clear those pipes, and success flows much bigger, faster, and more enjoyably.
This was true five years ago with Open Door Capital. I knew I wanted to do more, bigger deals… but for years, I didn’t do anything simply because I hadn’t decided. Once I committed to pursuing mobile home parks, I bought $1 billion in real estate in just five years.
That is the power of deciding.
So, I’m going to buy Wilder that property in the next few months, following the same methods I teach. This week, I finally decided on the strategy I’ll pursue: I’m going to do my first co-living property. Now I just need to decide on the rest of my CCC, starting with Location.
More on that next week.
So, what decisions do YOU need to make?
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."