So Session 5 covered goal setting and asset protection.
When setting up long and short term goals, you have to claim in the now. “I now have $3000 in passive income on or before Feb 1st, 2006” This brings it into the now. If you state your goal in the future, your mind will take the path of least resistance and decide it does not need to focus on the goal, cuase it is out in the future. But by stating it as fact, in the NOW, your mind go to work making it so. Your sub-conscious will do whatever your conscious mind directs. So by giving clear instruction to your sub-c mind, that this goal has already happened, now, your sub-c goes to work to manifest it.
Andy Fuehl covers this in great detail in his book, Wealth Without A Job.
So we also covered asset protection. I wont go into great detail here, but there are ways (legal) to protect your real estate asset’s. Using land trusts and LLC’s you can “own nothing, and control everything” . Tell me that doesnt sound like fun. This protects your personal assets from any potential liability is a sue happy world.
The “theroy” stage of the 10 week coaching is tranisition more into the “doing” stage. I now own 2 addtional income properties on or before Feb 28th 2007. Did you notice the present tense of the goal. I OWN IT, The properties are already mine, the money is already in the bank, the deals have already been done. My sub-c and action on my part will ensure that it happens.
Go big or Go home.
Sean Alsobrooks has written a nice post in regards to marketing a website. He makes the same point we do to our customers that it is vital to market a website after creation if one ever hope to regain the investment.
Sounds simple, but so many clients are still in the “build it, they will come” modality of the late 90’s.
The 3rd meeting of Refresh phoenix was held last Tuesday.
Smaller crowd this time, less formal atomsphere as people essentially just networked. Aaron made a cool annoucement about upcoming ‘themes’ for meetings. Pick a month and go big. Refresh participants are instructed to step up and pick an upcoming meeting date that they can run with, pick a topic, do a training session, bring a guest speaker, etc. Very nice.
Refresh is a cool idea, I admire Aaron over at 30secondrule for brain building this thing. Not only is it a good idea, but great marketing as well. He is positioning his business as the uber “we are on top of whats hip on the web”. kudos to him.
Oh yea, I fell victim to it. A haircut so bad I had to finish it off. Be wary of ladies older than 35 that cut your hair. It seems the older generation does not understand the phrase, “i wear it messy” or “keep the fade low”. She butchered me.. So this morning I busted out the clippers and gave myself a short buzz cut, you know like you had when you were 9.
So now I am a member of the “hey i look like i just joined the army and my scalp aint seen sun since the summer of ’88” club.
It’s okay cause i was actully going to do this at some point. I was going to do it to prepare myself for if i ever really lose my hair. Male pattern baldness sucks, and it looks like I may escape it.. it (hairline) just pulled back a little above my temples is all. But it is good to see yourself bald at least once, so you can prepare pyscholologically in case you do lose it all.
So note to self- find someone that does a good job on your hair, and never deviate. And dont trust old ladies..
So some months back James Archer of fortymedia.com and I sat down for lunch down in Tempe. I asked the question “How can we monetize podcasts” and by the time the bill came (which James picked up, what a nice guy), we had an idea on how to assemble advertising into podcast streams. A few months later fruitcast.com was born.
Now I did not have a direct hand in producing the application, I was just an idea guy. But man it juices me everyday to know that a little bitty piece of that fruit is mine. Advertising for Podcasts is a revenue channel that is growing, and will continue to grow.
Advice to all: Be the first to act. Execution is everything. Tony Robbins says Massive action. I took massive action by calling a competitor and suggesting lunch. James took massive action by working his tail off for a few months to turn a lunch conversation into a viable business idea.
With the recent rash of Yahoo! buyouts. It would nice to see a dividend from a lunch meeting pay so well.
My good friend and Mentor, Andy Fuehl has launched a new blog, in conjunction with the new Wealthwithoutajob.com Website.
Andy is an author, coach, and mentor for money psychology and wealth creation.
So Audi is coming out with a new RS4, 414 horsepower, 0-60 in 4.8 seconds. This is my new car, I just havent gotten it yet. My current A4 is pretty hip, fun to drive and looks sweet.
One thing I am learning about entrepreneurship is : motivation. Or knowing your outcome. You have to be working towards somthing, a dream, a big dream that pulls you forward. The RS4 is just a small part of my big dream. Wants and desires like this keep you going. Pain pushes you forward, put when you create enough space between you and your pain (bills, work, etc) one tends to slack off.. the big dream pulls you forward, keeps you moving towards your goals.
So a fancy, flashy, fast new car is part of my big dream, whats yours?
So today in my coaching session with Andy Fuehl we spoke at great length about lease-options. Lease options are a nifty way to produce cashflow from real estate, in a non traditional way. This will be a good first step in my investing process. Get my feet wet before I jump in.
I have already had some success with one property, but I i got lucky and rode the massive wave up that Phoenix had last year. Now that things have settled down, it is time to ‘buy right’ as Andy puts it.
Put aside the BS war on christmas, and get back to the basics. I am right, you are right, the guy down the street is right, and heaven forbid the radical freak ready to blow himself up on a train is right. Everyone is right. Tolerance kids. To each his own.
Nothin chaps my ass more than people that say/feel “I am right, so you are wrong”. Do they really think out of 6 billion people, that just them, or their small group of likeminded people are the ONLY ones that have figured it out?
Anyways, that was rant.. what this post was really about was ‘giving’. A good friend of mine, emailed me and some other friends with an opportunity to serve hot meals, and wrap presents for ‘those less fortunate’ on christmas eve. How pimp is that. One grows and stretches by serving others. A life of service is a life of fulfillment. Ask anyone what they would do with $1 million dollars, and somwhere near the top of the list, is “I would buy this for this person, or give this money there”, it is human nature to give and serve.
So get off yer arse, and serve someone. Karma will take care of you. What you put out in the universe is what you get more of.
I’ll be in Tucson spending time with my in-laws. I wish everyone a happy ‘whatever’.
I hired a personal real estate investment coach a while back. The training conisits of 10 weeks of personal coaching with Andy Fuehl, Author of “Wealth Without a Job: The entrpreneur’s guide to Freedom and Security beyond the 9 to 5 lifestyle” Tell me that aint a title to get you reading.
Andy has also written a book with Real estate investment mogul Dolf DeRoos, which is currently ‘at the printers’.
Week 3 of the traning covered more of the mindset issues of week 1, and week 2; Getting right with money, thinking outside the box, and understanding the level of service that real estate investing deals with. Week 3 also went more into the nuts and bolts of real estate investing; taking the pulse of the market, understanding rental rates, identifying target markets, etc.
My mouth is watering for more. I cant get enough of this stuff, When we sold our first investment property it was such a killer feeling taking that check to the bank. I have spent the last few weeks goal setting and getting all my ducks in a row for 2006. 06 will be thebreak out year for obu Web, as well as my personal real estate portfolio.
I am learning that planning and goal setting is crucial. For much of my life I have ‘gotten by’. It is time to take control and manifest the outcome that I desire.