December 13, 2023

Something I’m Reading

I’m still reading Nick Offerman’s “Where the Dear and the Antellope Play” . I’m still traveling so I literally read for zero minutes this last week.

Something I Photographed

My team member, Stetson, took me to the Vikings/raiders game on Sunday!

Something I’m Excited About

We just spent two days goal planning for the future or the BetterLife Tribe and I'm really, really excited about the direction we're headed. We’re Leaning heavier into helping people build wealth through real estate investing specifically, but not abandoning the work we're doing with helping people in their marriages, fitness and such.

If you’re not a member, enrollment is still open. To join or learn more click here.

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: "What have you enjoyed most about starting your own company?”

I love helping my people. Like with my teams, I like to see them fulfilled. I work more hours now than when I had a normal job, however, I never look at the clock. The only reason I've ever looked at a clock now days is because I'm running out of time because I'm so lost in what I'm doing. And I'm so in love with what I'm doing.

When it comes to my team, I like seeing that they are fulfilled in a job more than they ever had been. So being able to create an environment where people love their work has been really great. Nobody ever loves their work more than spending time with their family. In fact, that's one of our core values is “work life outside work matters more”. Point being, work doesn't have to suck. I don't want my people looking at the clock all day saying to themselves “only five more hours”.

Question: "Are you a fan of hard money loans? What are the pros and cons?”

I am when they're used correctly. I like hard money when you have a long enough time horizon to complete the project. In fact, I even own a lending company that provides hard money loans called BetterLife REF. I wouldn't recommend a six month hard money loan. It doesn't give you enough time to buy and sell property. But if you have a good exit strategy or better yet, multiple exit strategies and you have a long period of time for a hard money loan, I think it's a great way to get into real estate and to flip houses without having to do a tremendous amount of work.

So let’s talk pros and cons. You don’t have to bring a tremendous amount of cash to the table. It's not based on your personal credit score or income or debt to income ratio, it's based on the property itself and the profitability of the flip or brrrr you're about to do. While a normal bank only wants to lend on a good property. But if your short on time, I would look at other options.

This Week in Lending

Looking for your first ever deal??

Have you considered a House Hack… and want to put very little (or no) money down?

We have some great loan products for you. Some you may have already heard of, but did you know if you plan to occupy the home, you can find loan products with the following down-payment:

FHA: 3.5%
USDA: 0%
VA: 0%
Conventional: As low as 3%

If you want more info or would like to get pre-approved, check us out here: https://betterliferef.com/lowdown/

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 :)