How Come That Idiot’s Rich and I’m Not?

The Rich Idiot

This is actually the 1st book about wealth that I ever read even before Rich Dad Poor Dad. The story ignites my desire to be wealthy.  Somehow, I used to believe that you have to be academically smart to be wealthy. That is the biggest lie that was planted in almost every child head.

I always thought that getting wealthy it going to be complicated. You have to be smart, High IQ, came from a family with high background, etc.. Since I am never the brightest kids in school, the thought of being Rich and Wealthy do not even come to my mind until I read this book. Then I realize this wonderful fact:

You don’t have to be smart to get rich. In fact, according to the author, Lot of rich people are actually not so smart.

The book opened up the reader with a classical question: “ how do you put an elephant into the fridge?”

Most smart people will over analyzing the questions and came up with creative solution on how to fit an elephant into the fridge

The not so smart one simply opens up a refrigerator and put it in. I hope you get the point here.

When it came to real estate brokerage, there is two type of agents. The smart one will keep working at Taco Bell part time and want to figure out everything before doing his or her 1st transaction. The other not so smart one will simply dive right into the water and start looking for the 1st deal. By the time the Taco Bell person finished studying, the other agent already closed the deal and make $5000 in commission.

Which agents do you think will be more motivated to continue in their career?

Same thing when it came to investment, I tend to notice that people that often have degree falling off their wall with all sort of certification will never take any action, while the person with nothing to lose often made it to the finish line.

Don’t become too smart to not do something.

#TheRichRealtor

In the picture: The Yin and Yang stone garden in Kyoto, Japan – April 2017

What makes you happy?

I stumbled upon an interesting reading during my miracle morning, and want to share this with everyone. This is a “flow” chart of a person to determine their level of happiness.

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If you paid any attention during Philosophy 101 class in college days, you will recall that Aristotle came to a conclusion that a person wants to be happy above all else. But the real question is: Continue reading “What makes you happy?”

RE Agent – Please find a way to get out of Real Estate

Well, I probably lost half of my reader here because of my bold title. But if you think that I am joking, I am not.

My heart is broken when I see a real estate agent in their retirement age trying to put together a contract to pay the bill by the end of the month instead of enjoying the best period lifetime has to offer. Continue reading “RE Agent – Please find a way to get out of Real Estate”

A story about Elva – and why Women make great Real Estate Investors

I am surprised to see the lack of women in the field of Real Estate Investing. If you walk into any investment club. It is not hard to notice that the room is predominately men.

Besides Wayne, I also have the honor to help Elva this year to get her 1st rental property under her belt. Some people I once knew back in the Rich Club took more than a year to research in real estate, take all the courses, but never started. Not to mention that those period were one of the best time in the history to acquire Investment Real Estate

When I first met to Elva, she knew nothing about Real Estate. What has Elva done differently compare to other folks to acquire her 1st rental in a competitive market, in such a short amount of time exposing to the field?

Working with Elva, I realized that women could make great Real Estate Investors! They edge men over a few points. For Example:

1. Attention to details:

The devil is in the details as we know. Guys like me usually suck when it comes to detail while gals usually pay great attention. I can’t tell you how many time I got screwed over because I overlooked a house during the inspection, or doesn’t get down to the nut and bolts with managers and contractors.

This is particularly useful when you go through a final walkthrough on a project. I usually bring wifey when I go see the house and after the contract finish the jobs for this very reason.

2. Ask for help

Men tend to have more problem when it comes asking for help than women.It hurts their ego or something, or they think DIY is cooler. That is the mindset of the S in Robert’s quadrant that you need to move away from.Real estate is a people business with lots of moving parts. If you can market and find your own deal, fix it up, then lease it or sell it yourself – All power to you! You will make good money.

However, if you want to make great money and move to the B quadrant, it’s time to leverage out and learn to build a system instead of DIY. The easiest way is asking for help! and never forget to say thank you. As long as you are serious and demonstrate your highest level of commitment, you will get the help you need.

Always seeks for help, always say thank you, and always helping other people. that’s Elva advice to new real estate investors

3. Considerate 

This is where most men are usually not good at. If you think this does not really matter, try not to open the car door your girl or somehow manage to get only one pair of chopsticks for yourself at dinner time and see what will happen. (I am guilty of both)

These soft skills come in handy when dealing with people directly. It might as well set you apart from other investors. For example, I consider myself a good boss by always brought lunch for my contractors whenever I come visit the job site. Elva took it a step further by order pizza directly for lunch when the contractor solved an issue that saved her money. By always say thank you and show appreciation for the people that works for you and with you, it created a strong dynamic and bond the team together. Stuff will get done lot faster and smoother than usual.

Relationship is bonded by either fear or trust. You want to be on the trust side.

 

 

That is it guys and gals. Elva was able to user her unfair advantage to score a deal before the year is over. She incorporated Wholesale, HELOC and BRRR into her 1st deal, which is somewhat considered an advance strategy. Everybody has a story on their 1st deal and how they get started in real estate. This is Elva and her story.

What would be your story?

Turn of the TV – Go out and make history!

 

 

 

The Economy and Politic inside of you

Watching the presidential debate, I can not help but write this article to express a point that lot of people might have missed:

As the country is approaching the presidential debate. Our attention has been shifted to the country matters such as the Country Economy, Cyber Security, Commercial Trade and Deal, Racism, etc. While all of these are absolutely  great, i want to point out a couple of things about…YOU! Continue reading “The Economy and Politic inside of you”

Quick post on refocus: Looking for $$ or Solving for problem?

As your businesses and investment’s portfolio are expanding. Often people forget who they are and what kind of problem they originally set out to solve for. I often see this scenarios when the math for cash flow become tight. When the pressure is on and you are waiting for that paycheck simply to pay the bill and survive through the next month, this is where focus starts to loose ground. Your mind eventually gets shift from the original problem to simply looking for money. This is when a Jedi started failing into the dark side Continue reading “Quick post on refocus: Looking for $$ or Solving for problem?”

The Power of being Broke

Recently going out for lunch with one of my newly met friend and i just realize the power of being…Broke. Although the guy is rich. He acted like he is broke and this struck me in the head. Like Grant Cardone said, you are not rich until you have 1 million dollars sitting in the bank, free and clear. Grant Cardone was still driving a Camry when he has 1 million dollar in the bank. He didn’t go fancy until he multiply that One. Continue reading “The Power of being Broke”

Screw Happiness – I am in pursuit of Greatness

 

Recent Wimbledon Championship slogan inspired to get back on my feet and start to get back on my dream again. Their slogan is

“In Pursuit of Greatness”

At one point in life, have you ever had a person telling you something to the extend of: ” Oh, money is not important you know”, or ” I rather be happy than be rich”, or “Money is the root of all evil”, or ” There is a lot of other stuff than money you know” Continue reading “Screw Happiness – I am in pursuit of Greatness”

I can teach American capitalism using a jar of marble

As a kid most of us know the game of marble. The name of the game is to collect as many marble as you possibly could.

What do you do when you don’t have any marble? You have to find one 1st. You could either dig up around your yard to find one. Or if you are lucky ask your mom and dad and they will provide you some marble.

Continue reading “I can teach American capitalism using a jar of marble”