I always hear the words live for the moment and each time I find myself questioning these words. Life is short, but art is long. At thirty I’m only a quarter through my life with modern day medicine with the way things are progressing. I’d rather live a life living for my funeral. I don’t fear missing a night out, a deal, money, I fear regret. When the inevitable comes, I want to walk through the pearly gates with zero regrets. Not every decision will be a great decision, but if you can confidently say it was what you wanted to do at the time, you can’t regret the failures between the successes.
Thirty, forty, fifty, sixty those ages are still young by today’s standards. Have you ever heard an elderly individual say that regret not doing such and such. I fear those words rolling from my tongue. I was recently told by someone that relatively just met me and they said that they quickly realized I was going to do whatever it was I wanted to do. My question to them was, why don’t they? We have all been given this unbelievable opportunity of being a human, why waste it doing things we don’t love or enjoy?
Ultimately, this comes down to knowing who you are as an individual and what it is you are truly living for. One of my favorite books is The One Thing by Gary Keller – the entire book goes into the psychology of why we as individuals do what we do. What’s the one thing we wake up every morning for, go to work for, make the choices we make for. If you can not confidently say what that is, then you need to take the time, reflect and figure your one thing out, otherwise what’s the point of living the way you are? No matter how scary or uncomfortable something might make you feel, if it’s something you want to do or feel you need to do, put yourself out here. Take the leap, get uncomfortable to make yourself happy. Plan for the funeral, plan for the inevitable, live life with no regrets.
One of the biggest issues I see everyday is we as a society worry too much as to what others think. In a society built around social media and the always perfect it becomes very easy to begin questioning the content you are putting out. I find myself doing it all the time – hours of content created and then questioning whether or not I will post it, majority of the time I don’t. Over thinking the situation is the enemy of executing and the enemy of success.
Learning to put aside the comments, words and thoughts of others is the true definition of execution and success in one’s field of work. Ultimately, we shouldn’t worry about the thoughts and comments of others, but rather feel bad that they had to take the time to watch, listen and negatively comment. Everyone is scared to be criticized, but that’s part of the process. You know what a negative comment is? Still someone taking the time to absorb the content you are putting out, so they still know who you are and that is the ultimate goal in marketing, getting the word out on what you are pitching.
Once you know who you are, what you are trying to do and are able to put aside the naye-sayers, that is when true success is just around the corner. The issue is, the majority of you reading this will never look past the negativity and because of this will ultimately miss the highest levels of success and fulfillment. When success is as vital as breathing to you, that is when you will be able to accomplish everything you want and need to accomplish is just around the corner.
You simply can’t think success and it will manifest. Actions are the only true answer to accomplishment. Understand the fears of failure and criticism are what limit our minds from executing at the highest levels. You have to cut all aspects of negativity from your life to reach your highest potential. That is when you will begin to see your levels of execution and ultimately success peak. No matter your goal; whether it be, building a business, building a new relationship, or bettering yourself the actions to get you there need to become as vital as breathing is to your life.
I have to give a big shout out to one of my former students that sparked this little blog post, you know who you are. So we were up last night chatting on the phone around 11 at night and discussing what she wants to do for her career and future after leaving college. She has a nice cozy job lined up, making decent money to start at the age of 21. Her question was, does she stick with her current situation, the cozy job and cozy paycheck or does she come back to South Florida and start to build her own real estate business here as an individual agent. The same field, but night and day positions.
I get questions like these all the time from past students – for those that don’t know, I use to work in education when I was in my early 20’s and needed that steady paycheck while I built my life as an entrepreneur. We all have different backgrounds and might need that 30, 50, 70k or whatever it is day job to hold over our bills as we try and run the night hours on our own side hustle until we are ready to make the leap into entrepreneurship. I know I did.
What I tell everyone that comes to me with these questions is if whether or not that person knows who they are. Are they emotionally stable to handle the highs and lows of entrepreneurship? We live in a society and culture now a days where entrepreneurship is placed upon a pedestal and all we see are Bentley’s, pretty girls and trips to Ibiza on social media. But let’s face the reality, that’s not entrepreneurship. 90% of entrepreneurs fail in the first 3 years and end up spending their life savings working for their dream and losing it all. Been there, done that. That’s part of the process. What you do next is the most important part. Do you get back up and you figure what worked and what didn’t and why and adjust, or do you roll over and cry?
Entrepreneurship is a process of constantly adapting and adjusting your business until you figure out what works and what doesn’t – the only issue is, the majority of the population can not handle these stresses. As entrepreneurs we don’t use the words stressed out though, rather we get fancy and say we are overwhelmed. It’s the same thing and how you handle these stresses is what dictates your future as a successful entrepreneur.
Before you can start anything you need to know who you are. Are you a number one in a company? Maybe you’re a number three? A number five? The number 3 and 5 at Facebook were still highly successful, they just didn’t bring the same energy and emotional stability to be the number one. You need to understand who it is you are and what it is you truly want in this life. No matter how successful you become at your given craft if you aren’t fulfilling your life, you will always feel a sense of void and lack bringing your full potential.
No matter how much you feel that things may suck right now and you aren’t in the job you want to be in or making the money you want to be making, it’s important to understand that life is long. The amount of change that can take place in a year, never mind ten years is astronomical. At the age of 20 or 30 or 40, our lives have barely started. The hardest part is understanding where your passion lies and who you are and want to become and taking that first leap to making your life extraordinary.
I like to look at everyday as an adventure, you just never know what is going to happen, who you might meet, or what business might cross your desk. Most people are a bit intimidated about going out on their own and leaving the comforts of a weekly paycheck, but now that I have done it for so many years, I could never go back. The excitement of trying to put together unique deals and unique opportunities never seem to get old to me. The highs and the lows.
In the past two months I have put together and then loss almost 1M in potential revenue due to unforeseen circumstances – did it suck, yes, did it make me stop, no. I think that’s the best part of being an entrepreneur, but it’s not something that everyone can stomach. Now the excitement of taking an opportunity that others overlook and trying to find creative ways to make it a reality and an income stream sets my wheels on fire.
I can remember when I started my first business and left the comforts of my day job. I left a cozy paycheck which was pretty good money at 24 years old. I was young, I made a million mistakes, turned down investor money when I shouldn’t have and battled against some of the giants in the industry. Tiny budgets against millions, david versus goliath. I depleted my bank account and my savings for a dream, eating peanut butter sandwiches and never going on vacations. We all live too fancy which in turn sacrifices many of our dreams. I can remember turning down buying my first house to run my first manufacturing run. I was sitting in my one bedroom apartment with a contract to purchase the home and an invoice for my manufacturing run, both were going to cost me 40K out of pocket, I had to make a decision. We all know what I did and that house sold two years later for 150K more than I would have bought it for and now sells for 250K more! That was six years ago. That would have been a pretty good investment, but I would have learned less than a quarter of what I have learned over the past six years starting my own business and I wouldn’t have it any other way.
Not relying on the comforts of a weekly paycheck has forced me to learn new tactics and new skills that never once crossed my mind before. It has made me a thousand times better than I was before. You need to let a little fear into your life and that is what is going to push you to new levels and learn new skills. Rather than crippling to the inevitable downs in life, you need to learn from these traumas. Instead of worrying about what you cannot control, you need to shift your energy to what you can create.
Thinking about getting started in real estate investing? I get a lot of people coming up to me and telling me that they want to get started in real estate investing. Real estate investing is a wildly popular topic in the market right now with the likes of Grant Cardone and other top real estate investors speaking regularly on the topic. The only issue is many people say they want to get started but don’t really know where to get started and aren’t 100% willing to put in the work to get themselves started. The first question I always ask everyone when they mention they want to get started in real estate investing is, “what is your investment criteria.” The common reaction is most people look at me and pause and come back with “ummm I want to make more money.” Now that’s not really an investment criteria that is more so an undefined goal. So with that being said there are four factors that are really going to be discussed and need to be understood and identified when looking to get started in real estate investing.
The first facet is going to be knowing what your goal is. What are you looking to do from a real estate investing stand point. Are you looking to fix and flip, appreciation, rent and hold, wholesale, what are you actually looking to do. So that is going be your first step, knowing what you are looking to formally do to make sure you don’t end up in a situation like many did in 2006 to 2008. Know what you are trying to do.
The second facet is going to be knowing the location. You need to know where you are looking to purchase or flip in. Know what is around the property, know the streets, know the schools, know the attraction to the area. Some properties can look great on paper, but that is often due to the location of the property which in turn is effected by facet number three.
The third facet is going to be knowing the market that you are looking to invest in. Is it a growing real estate market? Are people moving to the area? Is the market appreciating or depreciating. You need to know what is going on in that real estate market. Real estate is somewhat national, but on another hand it is very hyper local. You could have an appreciating town right next to a depreciating town and that could 100% be based off the location of the property or facet number two.
The fourth facet is going to be know your numbers. I can not stress facet number four any greater. Knowing your numbers is what is going to make and break your investment. Whether or not your property is going to be cash flowing or not is what is going to prevent you from losing your investment or asset in a down turn market. So what most people do is analyze their property from a monthly stand point, but we don’t own a property for only a month, you own a property for a year, two years, ten years or more. So you need to always annual your numbers on an annual perspective and that is where many novice investors make a huge mistake.
Once you know these four facets you can begin looking for real estate investment opportunities and begin to analyze the deal. Next week we are going to be discussing how to analyze a deal and how to calculate the numbers you need to know in order to know if it is a good investment opportunity or not.
Worked late last night getting things situated on the site and a few other sites of mine. Things always take longer when you have to spend the first two hours actually trying to learn what you are trying to accomplish, but I guess that’s the life of an entrepreneur. Rainy day down here in South Florida so just hanging around the office and getting some work done today, not that I wouldn’t be doing the same if it was super gorgeous outside. I think that is one of the biggest differences from most true entrepreneurs and employees is the willingness to put in the work on days when most aren’t.
I heard a funny story yesterday about a very successful builder and his employee. One day the man was being interviewed by a local newspaper and the newspaper asked him, “Do you feel bad that you pay yourself millions and then pay your security guard 25K to protect your business” and the man simply responded with “No, because I take more risks and work more hours.” The man interviewing the builder quickly came to his synopsis that the man was very arrogant, until he decided to interview the security guard. He asked the security guard the same questions and to his surprise the security guard responded with “I wouldn’t want to be the builder, he works too many hours and takes too many risks.”
This story brings a lot to my attention. While I hear so many people everyday talking about how they would like to change their situation and want more money, etc – but the harsh reality is 99% of people out there aren’t willing to put in the work that they have to put in to make these dreams a reality. Now trust me, I strongly believe in having a good time and enjoying life to the fullest, but you also need to analyze and know your situation. If you want something like more success, there is only one way to do it and get there and that is working more and working hard. There really isn’t any secret to success, it’s having a plan and executing on it. The biggest issue is the majority of us take complex situations and try to make them even more complex to try and sound more intelligent, but unfortunately complexity is the enemy of execution. Keeping things simple has always worked and will always continue to work, don’t over complicate your situation – plan and execute.