November 8, 2023
Something I’m Reading
"Mission Possible” by Tim Tebow and "Value Creation Kid” by Scott Donnell, both upcoming guests on the podcast!
Something I Photographed
It was super cool to hang out with Tim Tebow for a few days and learn about how he’s built his charity that rescues kids and adults from human trafficking. Super humble dude and full of heart and wisdom. And I got to record an episode of the podcast with him! Excited to release his episode soon!
Reminder: Tim will be speaking at the BetterLife Summit this year! He’s going to blow your mind. I’m so excited for you guys to hear from him! If you haven’t bought your ticket, do so now! https://betterlifesummit2023.com/
Something I’m Excited About
I’m excited that the BetterLife Tribe is open for enrollment! We’ve made some exciting changes and now members get access to a weekly live call hosted by ME where I provide you with tips on how to build wealth. Want to ask me direct questions about your real estate portfolio, business, or anything else for that matter? This is the place. I also will occasionally bring in some outside guests (like last week when we had Dan Martell join - best-selling author of Buy Back Your Time). So if you’re ready to talk real estate & financial freedom, achieve your goals and connect with a ton of high achievers doing the same thing, join the Tribe!
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: "As a busy entrepreneur, how do you prioritize your to-do list each week?”
1.) First, I love to brain dump all the tasks I need to do. This can take some time, but I always feel SO much better when I have it all jotted down in a notebook. (Yes, I use a pen and paper for this.)
2.) Second, I mentally run all tasks through the "Eisenhower Matrix" - which attempts to put each task into one of four categories:
Urgent and important tasks: (these get put into the "DO" bucket)
Not urgent but important (these get put into the "DECIDE" bucket)
Urgent but not important (these get put into the "DELEGATE" bucket)
Not urgent and not important. (these get put into the "DELETE" bucket.)
Ultimately, I don't want a task on my "to-do" list to not have a purpose. And if the task is a "DO" or "DECIDE" or "DELEGATE" I want to jot down what the Most Important Next Step (MINS) is. For example:
If I need to do it, I put it on my calendar and/or send to my assistant to schedule
If I need to decide on something, I want to clarify (in writing) what needs to be decided? Once I am crystal clear on this, then I either decide right then and there OR if I can't make the decision yet because I don't have the right info, I need to ask myself, "what information do I need to make this decision" and that becomes another task.
If I need to delegate something, I will decide WHO it needs to go to and I take the necessary steps needed to get it to them.
After all of this, I should be left with a much smaller list of VERY actionable steps. From there, I want to decide what is the most urgent AND most important, and rank them from most to least importance. Then I get to work on it.
Question: "What is your risk tolerance?”
I make asymmetric bets constantly. This means - I take risks that have low downside and massive upside. An example would be buying a real estate deal. I could break-even or even could lose a little. But I may make hundreds of thousands over the next 20 years. The upside is huge, the downside is not.
I also look at the educational component in risk. In other words, one of the most risky things a person can do is take a risk they don't understand. Education can reduce risk. For example, that same real estate investment: how do I make sure the upside is way more likely than losing the property? Education. So having a high degree of self awareness is key .
This Week in Lending
Are you tapped out with Fannie/Freddie loans?
Have an incredible deal that cash-flows well, but you can’t seem to find a solution to secure it?
A DSCR loan might be the perfect fit for you! Our DSCR loans are created with the focus on the deal as a business model (Cash-flow/profitability), and isn’t dependent on your DTI. Also, the loan isn’t reported to credit bureaus!If this seems like a good fit for you, check out the details at betterliferef.com/dscr
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 :)