If you make more bad choices than good, you won’t be pleased with the results. Make more good choices than bad, and you’ll end up on easy street. Simple as that.
Yesterday, I met with a friend (we’ll call him Ben) who is going through some tough times. This is the letter I wrote him this morning:
Ben, sorry for the troubles you’re going through. The thing is, you are where you are because of
the past choices you’ve made. On the other hand, ten years from now, you’ll be where you’ll be
because of all the little choices you make from this day to that. It’s all up to you.
Your window is closing fast. You’re not 30 years old any more. On your current path, you
won’t like where you’ll end up at 65. You must start RIGHT NOW cutting every expense you
can in order to free up every penny you can to invest in appreciating capital assets. Time is a
luxury you no longer possess.
For the record, Kim and I were in a similar boat when I was 35. This is why we began investing
in real estate. We’re now 17 years into that decision. Our financial freedom picture is bright,
but it hasn’t been smooth sailing. We just went through the worst economic collapse of real
estate since the great depression. With lots of work and sacrifice, we came out on the other side
- battered, but not broken. Will you let it break you?
Like you, I’m dyslexic and read can’t write or very well. But you can’t let impairments stand
in your way. How many times have you seen me cuss out my weekly newspaper column while
trying to write it? But did I let dyslexia beat me? Will you?
Here’s a question for you: How many sellers have you met with this month? How many have
you seen this year? Do you even know? How many deals have you bird-dogged to other
investors? If the answer is zero, why is that?
You’ve got to want success more than you want anything else. I hate knocking on sellers’
doors. I’ve done it for a living since I was 18. But everything is on a balance scale. On one side
is sacrifice, meeting with sellers, and taking care of rental properties – YUCK. But on the other
side is financial freedom. Simply put, you’ve got to want financial freedom more than you mind
paying the price to get there. For me, it was an easy choice. How about for you?
Only you can decide your fate. Life doesn’t care where you’re from, how much schooling
you have, what you look like or what color you are. All it cares about is action – slow, steady,
everyday, moving-forward action. It’s all up to you.
You’re surrounded by some of the finest real estate investors in the country. They’re all seeking to be financially free and real estate is their vehicle of choice. You can’t plead ignorance or say you don’t have the examples all around you. If you fail, it’s simply because YOU chose to fail.
Are you gonna tackle this thing, or is it gonna tackle you? Are you really ready to make the hard
choices? Are you really ready to sacrifice? Are you willing to do the things you need to do to be
financially free? Are you willing to go out and meet with sellers every day no matter how tired
or busy you are? Only you can answer these questions.
One last thing: Age has taught me that time is the most precious of assets. Ben, don’t waste the
time of the wonderful folks around you. Don’t talk about grand plans or spend time apologizing.
Either take immediate action or don’t. It’s all up to you.
As my good friend Mary Ann Doering taught me: If you don’t change direction, you’ll end up
where you’re going.
Bill and Kim’s North Georgia Real Estate Investors Association meets on the second Thursday of each month, from 7 to 9 p.m., at the Hilton Garden Inn off Main Street in Cartersville, Georgia. For more info, go to REIoutpost.com.