MINDSET MINUTE VIDEOS
How 30% Real Estate Returns Are Common
Financial leverage is a great wealth creator for real estate investors. Few understand it. In real estate, if you put a $20K down payment on a $100K property, you’ve borrowed $80K from the bank. The tenants make all of your mortgage payments on the $80K.
Quit Focusing On Your Long-Term Future (Really?)
You’re too focused on your long-term future…only. Your long-term future matters. It should be a consideration for each action that you take today. But even the most well-intentioned, conscientious people forget that they can invest in BOTH the short-term and long-term at the same time.
Stop Looking At Properties
In real estate investing, the property is only the fourth most important thing. Most people make the mistake of starting out by looking at properties. That’s why you hear bad stories of how they had an awful rental property experience.
You Don’t Want Information. You Want Affirmation.
Even in “The Information Age”, information can make people uncomfortable. Therefore, they avoid information and instead seek affirmation. It is more comforting to be affirmed than informed.
How To Easily Remember Your Property Expenses
“VIMTUM” is an acronym that makes it easy to remember your rental property’s operating expenses: – Vacancy – Insurance – Maintenance – Taxes – Utilities – Management
Make Money That You Don’t Work For (Principal Paydown)
When you make a mortgage payment on your own home, a portion goes toward principal paydown. However, YOUR WORK went into making that payment. With income property, YOUR TENANTS’ WORK made the principal paydown for you (they also paid your interest and your cash flow).
Why I DON’T Want You To Be A Millionaire
Don’t be a millionaire. You’re thinking too small. A million is just one thousand times one thousand. There’s nothing magical about a million-dollar net worth.
How You Can Profit From OTHER Peoples’ Money (Ethically)
Do you work for money or make your money work for you? You know what? It doesn’t matter. You won’t create wealth until you do THIS instead.
Don’t Live Below Your Means; Expand Your Means
Your time, energy and mental bandwidth are limited. Don’t use them to live below your financial means. Instead, expand your means. When you try to live below your means, you can only cut so far to the downside and you’re living worse anyway.