October 25, 2023

Something I’m Reading

I just starting "Nine-Figure Mindset” by Brandon Dawson. Can’t recommend it yet, cause I’m just starting, but I’ve heard it’s great. Brandon is the business genius behind Grant Cardone, so I’m excited to dig in.

Something I Photographed

Attended “When We Were Young” , the punk rock festival for old people like me, in Vegas this past weekend. With some amazing people. One of the single greatest days of my life.

Something I’m Excited About

I just wrapped up a few amazing days at a small private real estate mastermind I run called “The Fifty.” Ate some of the best food of my life, drove some crazy fast cars, landed in the bottom of the Grand Canyon to saber champagne, and got some incredible advice from some multimillionaires about my real estate portfolio. If you’re not getting around people who push you and make you a better investor… what are you waiting for!?

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 do you stay motivated with repetitive tasks as you work towards a specific goal?”

Honestly, it’s just the BetterLife Methodology:

a.) I have to have a big goal worthy of the work

b.) I have to know the repetitive actions are things that align to the goal

c.) I have to know that I truly am the person who should be doing that task

d.) I track my progress on it in my BetterLife Book

e.) I meet weekly with my BetterLife Pod and show them my “score” - how I’m doing on those actions.

Question: "How do you overcome fear in taking action as a newbie investor?”

Five tips in no particular order:

1.) Remember that the biggest risk of all is taking no risk. Poverty and mediocrity are not fun.

2.) Mastery overcomes fear. You were only afraid to drive until you were a good driver. So fear might mean you haven’t learned or practiced enough.

3.) Practice. Like - it doesn’t take (much) money or time to analyze deals or hunt for leads. You don’t have to buy. Just practice until you’re confident.

4.) Work Together: a dark road at night can be scary alone, but with a few friends, it becomes a party. So, find a few others to do the journey alongside. Maybe that’s actual partners, or maybe it’s just others you meet regularly with who are on their own journey but you can travel together. (Cough…cough… The BetterLife tribe…)

5.) Start small. House hack if you can, wholesale a deal, do a lease-option. you don’t have to drop $100k into your first deal. Gain confidence by doing a small deal with a low-money down strategy.

This Week in Lending

With rates sitting in the upper 7’s for the typical 30-year fixed conventional product, many investors are building a plan for what the best next steps are. Should I wait until rates drop? Should I capture lower prices now? Although you can choose to wait for a lower rate, the last year of market trends has contributed to some lower prices across the nation. With that, a smarter move might be to capture your deals now, especially your long-term holds, then refinance when rates are more favorable. We’d love to talk strategy, and get your next deal funded! If you’d like to connect with a BetterLife REF Advisor, check us out at betterliferef.com.

Something I Recommend

I was always envious of the people who are “ON” 100% of the time.  The people who don’t deal with low motivation, doubt, fear of failure, or those endless days of thinking your whole entrepreneurial journey is about to blow up in your face.  These people were running circles around me in business and real estate and when I finally figured out what they had that I didn’t – It all made sense. 

These people were using a Mindset Coach to keep their eye on the prize and expose them to a higher level of thinking every single day. So when I went to find one of these coaches specifically for real estate investors, all roads lead to Jason Drees. Jason has been coaching me for nearly a decade at this point and has supported my growth from a small time investor to someone with nearly $1B worth of assets under management. 

If you’re looking for an edge to accelerate your growth, talk to Jason. You can get a FREE coaching session through this link. 

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 exercises 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 :)