Lance Edwards’ Multifamily Apprentice Student Quote:
“If I’m going to invest X amount of time into earning income. Then I might as well get the most bang for my buck as I invest that time. Ya know, 10 hours a week, if I’m going to invest 10 hrs I might as well Invest It Doing Big Ticket Items as opposed to the small items.”
I avoid listening to the news. Why? Because the media is in business to sell news – bad news. Bad news sells better than good news.
Want proof? Think of the amount of time allocated by the media to good news. Now, compare that to the amount of time they spend to reporting, predicting, and recalling bad news. OK. Now, I’ll step off my soap box and get back to my point. (But I recommend you ignore the news – like I do.)
Instead, this past weekend, I had the opportunity and privilege to hear Mark Victor Hansen speak. You are probably most familiar with Mark thru his book series: Chicken Soup for the Soul. (There’s a photo above of me with Mark.)
Mark is an incredible visionary and speaker on success. And he made some important points which I believe are extremely relevant to each of us today:
He points out that Yin & Yang really means crisis equals opportunity - for those who recognize this fact and look for it.
Do we have a financial challenge? Yes, absolutely.
Should we roll over and play the victim and wait for someone else to dictate our future? No, absolutely NOT!
More than ever, we need entrepreneurs - like you – who are creating opportunities & innovative solutions from & for the financial ”crisis”. But to do so, you have to ask a very important question.
All great thinking starts with asking the right question(s).
Here’s a great question to ask yourself: “How can I benefit from the current situation?” Let me repeat, Ask: “How can you benefit from the current situation?”
Keep embedding this question and you’ll find that your subconscious will seek out the answer for you.
I conducted a survey of my Multifamily Apprentices this week and asked them, ”How can you benefit from the current situation?” Here’s how they responded to the question:
1) “Private money fleeing the stock market is going to be looking for secure places - like hard collateralized real estate – in which to park.”
2) “Sellers (who watch the news) will be more motivated for creative financing – if they believe all of the bad news.”
3) “Rental housing demand is going up – raising the value of apartments.”
One of the Apprentices pointed out this quote from the richest man in the world, Warren Buffett. It’s simple and profound advice from the man who is busy building HUGE – I mean HUGE – returns from the “crisis”. Here’s what Warren Buffett says, “Be fearful when others are greedy and greedy when others are fearful.”
So, here’s the point: don’t be among the fearful. Instead, act out of confidence and optimism. Practice your daily mindset routine. Remember, the rules in business and life are simple…
The Stongest Mindset Wins.
Make yours strong.
Lance
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