Podcast: Play in new window | Download
Subscribe: RSS
Back To Basics -Get Your Money Right
We all want to do deals and get rich, BUT most Americans cannot afford to be rich. Yes, I actually typed those words..most Americans cannot afford to be rich. Becoming rich takes a certain mindset, it takes using that grey matter between our ears to position ourselves in the correct mindset to receive wealth. Believe it or not, most of us shun wealth by our thoughts, actions, and words.
Not being financially savvy will mean you always feel poor no matter what you earn. By not taking the time to understand how money works we tend to make careless decisions that often repel wealth from us.
Financial discipline helps in wealth building but also because without it we will spend our profits and allow investments to fall into disrepair. When our assets fall into disrepair we tend to, therefore, bring a negative experience to our tenants. Many landlords spend much of their time badmouthing the tenants when in reality they are themselves “attracting” the sub quality experience.
Many “investors” live in a scarcity mindset which keeps them from making logical decisions when it comes to property acquisition and asset management. The bottom line is “you get what you pay for” as the saying goes. As an investor, it's always best to “invest” in the relationship with your tenants, the payoff will be worth it.
Many Americans view a budget as a means of self-denial which does not have to be the case. By changing your views on the topic you can take a second look at your expenditures and cancel the things that we don’t receive benefit from. How many people pay for a gym membership and don’t use it? How about country clubs, season tickets to sporting events, etc? Often, these items are paid for dutifully every month and simply not used by the payor.
In a couple weeks, I plan to have a special guest join us who will show ANY listener how to discover an instant $300 to $750 that is sitting right in front of them.