February 1st, 2023

Something I’m Reading

I’m currently reading “The Second in Command” by Cameron Herald. Cameron is the author of Vivid Vision which has had a huge impact on my business. If your building a business and growing a team (or you want to), both of these are must reads.

Something I Teach

This week inside the BLT (BetterLife Tribe), I mentioned this simple sentence;  “What gets aimed at, measured, and reviewed improves.” 

This concept is integral to most success I’ve ever had. When I wanted to buy more real estate, I simply set a target and tracked my metrics to do so. Boom - it happened. When I want to lose weight, I simply pick my target, weigh myself often, and track my eating. Boom - I lose weight. 

But then, this week, I realized that there are areas of my life that are frustrating me, and yet I've not followed my own advice. For example, my kids  don’t eat healthy enough food. Too much mac & cheese. Have I set a target to aim at? Am I tracking it? Do I review my progess?

The sad answer is: No.

I'm relying on luck and magic and in-the-moment ideas to fix the problem.

So I'm going to be taking my own advice in this area, and a few others. I will be aiming. I will be tracking. I will be reviewing. 

Even in the small areas.

So my question for you:  What areas of life do YOU need to aim at, track, and review?

Maybe let me know in the comments at the bottom of this page.

You got this!

Something I Photographed

My 3-year old Wilder walked over to me and handed me my phone, which he had found.  A bit later, I discovered he had figured out how to turn the camera on, and had taken a number of pictures. Most were of the couch or his finger, BUT this photo he took and I actually LOVE it! I might even put it on T-shirt someday 🙂  Makes me smile.  Just a sweet boy taking a picture of his toy.

Something I’m Excited About

I'm really excited that my daughter's surgery is over. She had a procedure done on her eye, and as any parent knows, it's SO hard to see your kid in the hospital. But she did great, the surgery worked, and we're about to head back home.

Something I Can Answer
Every week, I answer one question asked by a BTB subscriber. Have a question you want me to answer? Reply to this text with your question!

Question: “I can’t pick which asset class I’d like to focus on as a real estate investor. Self storage, single family, buy and hold, BRRRR, multifamily etc… Do you have any advice for determining what asset class I should focus on?”

Such a good question. Here’s my thoughts:

1.) You can't do all of them, so at some point, you have to pick which you'll be an expert on. This means there are 100 other strategies you’d love to do, but just can't. As I like to say, its more important THAT you decide than WHAT you decide. Choosing multifamily NOW doesn’t mean you can’t do self storage later. Don’t get me wrong - pick a bridge and stick to building it. But you aren’t nailing down your whole future now.

2.) Second, the most important thing about picking an asset class: it has to make sense financially. I know that sounds obvious, but most people pick an asset class because it fires THEM up, not because it's the best asset for making a good return. What are your goals and what asset class helps you accomplish those in the best way that aligns with your lifestyle you want?

3.) If you pick something and focus on it until you master it and are the best at it, you’ll succeed. You’ll be be more successful than focusing on multiple different strategies. Don’t get sucked into the “grass is always greener” or “shiny object” trap. Any asset class is a good pick if it aligns with your goals and you dedicate yourself to being the best at it.

Your Friend,

P.S. Comment below and let me know your thoughts on this week’s BTB! Please be friendly :)