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Unformatted text preview: The Real Estate Success Formula By Eric Medemar www.TheMillionairesBlog.com Before we get started I would like to say thank you for taking the time to read through this handy little manual that I have put together. Your success is without a doubt my top priority. It's not simply a coincidence that you end up reading a book like this. It's you reaching out and saying “I want more, I know I can do better”. I applaud you for knowing enough, to admit that you may not know enough. I encourage you to dream big, don't let your present circumstances determine your vision for the future. Your present circumstances are simply a result of your past thinking. This is GREAT news! Why is it great news? Because if you can grasp that your present circumstances are simply a result of your past thinking, it's not a far leap to grasp that your decisions of today will directly influence your circumstances of tommorow. To me, that's the most empowering thought in the world. I want to encourage you to print this guide so that you might take the time to fill in the answers to the many exercises that I have included in this shor t book. To Your Success, Eric Medmear P.S. If you enjoy this book stop by my blog and leave a comment www.TheMillionairesBlog.com or check out our other great products at www.GreatGuruGiveaway.com The Success Formula is just like any other mathematical formula: When you put in 5 and add another 5 you always get 10. When you put in a 7 and multiply it by another 7 you always get 49. If you have 4 apples and you take 3 apples away you always have 1 apple. The success formula works just as sure as 2+2=4. When you follow these 10 success principles and apply them to ANY area of your life, success will always follow. Just as the number 8 will always follow 4+4. One of the things you will notice when completing this workbook is that the solution to almost every problem is to get out a pen and paper and write the problem, the solution, and the possible outcomes out. The reason I have become such a raving fan of the “Stop and write” method, is that once you pull an idea out of your head, and put it onto paper, it takes on an identity of it's own. Without pulling these sinister little thoughts out of your head, they will remain inside, where they will continue to wreak havoc on your chances of success. Another thing you may notice is that at first I talk in general terms, then in the question and answer session I talk in terms of success in your specific niche. I choose to speak in general terms because these success factors can and do carry over into every aspect of your life. To be more blunt, what good is success in one area of your life if the rest is falling apart? Success Secret #1 Have A Vision For Your Life Take a look at what the Bible says about Vision: “Where there is no vision, the people parish” Proverbs 29:18 Do you want to argue with the bible? Trying to go through life without having a vision for what you want to have happen, is like trying to put together a puzzle without looking at the picture on the box. How are you supposed to achieve any level of success if you don't even know what success looks like? Or even worse.... What if you do achieve success, but don't even know, because you don't know what success looks like to you? Do you see where I am going here? In order to succeed you need to have a vision for what success looks like to you. Please note, I said “What success looks like to YOU”. Your version of success cannot be the same as someone else's version of success. Everyone has there own version of what success looks like. If you chase someone else's version of success, you will never have a chance to find your own. Essentially your life's vision serves as the light at the end of the tunnel. Your vision is what will keep you moving even when things get tough. A strong vision will provide you with hope, when all hope seems lost. A strong vision will serve as your light house when your life's ship rolls into troubled seas. A lack of vision often leads to distraction. And, distraction leads to no where. And, no where never leads to success. No Vision, No Success- Having NO vision for your life will make it nearly impossible to achieve any level of success. Know Vision, Know Success- If you KNOW what you want your life to look like. Your chances of having it look something like that picture in your head will increase significantly. Take a few moments to answer the following questions to help gain clarity on your life's vision: 1. If I had it all to do over again, what would my life look like today? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 2. If I could create the perfect future for myself how would it look? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 3. In what ways could becoming a successful real estate investor influence my vision of the future? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 4. How will my future look if I attain the level of investing success that I know is possible? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 5. What will my future look like if I continue to follow the same path that I am currently on? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 6. What decisions about my path to real estate success could I make today? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 7. Who, other than myself, stands in the way of bringing my life's vision into a reality? Success Secret #2 Stay Focused Lack of focus is one of the primary reasons that most of you will fail as real estate investors. Many rookies mistakingly believe that they won't make it as investors because of a lack of information. I have news for you.... We live in the “Information Era”, if you fail because you don't have enough information then you didn't have a chance in the first place. Some of the symptoms of having a lack of focus include: Feeling like your always working but nothing is getting accomplished. Always starting the latest new thing, but never finishing anything. Feeling the need to jump on the bandwagon for every new idea that comes your way. Having huge highs when daydreaming about your success, but huge lows when it comes to pursuing them. Gaining Focus In order to gain focus it is vastly important to have something to focus on. Does that make sense? Take a look over your life at the times when you lacked focus. For some of you that might be 2 minutes ago. In most cases you lost your focus because you had never taken the time to realize what you were looking to do or achieve. When you don't have anything to focus on, small objects or obstacles will come your way and you immediately turn you attention to them. Which can quickly lead to a vicious cycle of pulling and putting your attention from one thing to another. Tips for keeping your focus: Set a timer- If you are having trouble starting something that you know needs to be done then set a timer. Force yourself to try for at least 10 minutes. In most cases once the initial 10 minutes is finished you will keep right on working. Remember “Objects in motion, tend to stay in motion” Know your outcome-Before you try to force yourself to do anything, take a minute and think about why you want to do the task in the first place. By refocusing your attention to the outcome rather than the action you will find it much easier to bring yourself to move forward with the task. To keep it simple, here is an example of the way this works for something we all do: You need to take out the trash but it's freezing outside. If you keep your attention on getting cold then taking the trash out may never happen. However, if you turn your attention to how bad your house will smell if all of the trash has to be piled up inside inside, then getting a little cold doesn't seem like such a bad idea. Remove Distractions- Make a promise to yourself that for the time you are working towards your goal you won't allow yourself to be distracted by things like: the phone, friends, co-workers, email, or the Internet Set your timer and put on your attention blinders for 20-60 minutes at a time. Focus on outcomes while chasing your dreams with actions and soon success will soon be yours. Answer the following questions to help escape the Focus Failure: 1. What do I allow myself to be distracted by, instead of keeping my focus on becoming a top real estate investor? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 2. How could I best eliminate those distractions that have pushed me towards failure in the past? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 3. Is the price I pay for being distracted worth the cost of failing to succeed as an investor? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 4. What will I do in the future to eliminate being distracted by these things? _________________________________________________________ _________________________________________________________ _______________________________________________________ Success Secret #3 Stop Daydreaming and Start Doing Don't get me wrong, daydreaming definitely has its place in our lives. The problem is that many of you a vast amount of your time “Dreaming about what could happen” rather than “Making it happen”. Do you see the difference? Dreaming about what “could” happen is great. Those dreams can be used to help set the vision for where you want to take your life. But, in order for those dreams to come to fruition you must put some actions behind them. Trying to make things happened by daydreaming, without action, is like trying to to move your family into the blueprint for your dream home....It just can't happen. Tips for Using Your Daydreams: When you're daydreaming about the future, keep a pen handy to jot down the things that you come up with. Use those daydreams to help develop a vision for your life. If you catch yourself daydreaming, but never taking action, then ask yourself: Which of these dreams for my life, would I be willing to give anything to see happen? Asking yourself that simple question will help you narrow down exactly what you want. Once you have found out which daydream is most important, then ask yourself: What steps can I take in the next 30 minutes to move me 1 step closer to seeing that dream become a reality? Answer the following questions to get past daydreaming and move onto living the dream: 1. What actions MUST I take in order to experience success as a real estate investor? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 2. What actions have I been avoiding while I daydream? (These are probably the same ones you listed above) _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 3. What action could I take in the next 1 hour, 12 hours, 24 hours, 2 days, 5 days, week, month and year that will move me closer to total success as a real estate investor? 1hour_____________________________________________________ _________________________________________________________ 12hours___________________________________________________ _________________________________________________________ _________________________________________________________ 24hours___________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 2days_____________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 5days_____________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 1week____________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 1month____________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 1year_____________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 4. What obstacles stand in the way of taking action? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ Success Secret #4 Stop Listening No, I don't mean stop listening to your spouse or family members, you're not that lucky. I mean stop listening to all of the Guru's out there who are offering you “The Next Big Thing”. Don't get me wrong Guru's do have their place. In fact I highly recommend learning from Guru's. The problem is that it is so easy to get wrapped up in the learning trap. Getting ready to get ready. Preparing to prepare. Does any of this sound familiar? One day your super exited about the latest method for success that you have just read about. Then just as you are starting to follow through on implementing those strategies, another Guru comes along and offers you an even easier way. The new way looks even easier . A couple days later, after starting and stopping your 2nd system, a new “Proven Success Formulas” arrives and you start that. You were sure that the “Proven Success Formula” was going to do it for you. Little did you know that a new “Time Tested Success Formula” was about to be released. Can you see where this is going? Yes, it keeps going in a vicious cycle of “Always striving but never arriving”. Tips for defeating the trap: Force yourself to follow through on at least the first step that you have started. In many cases the reason that you stop in the first place is because you need to feel “immediate gratification”. By following through on at least the first step your chances will greatly improve of following through on the next step. If you are tempted to quit and start something else, then ask yourself “Why”. Get real with yourself. More than likely, when you ask yourself “Why” you will discover that there is no real reason, other than it's new and exiting. The little voice in your head may try to rationalize by saying “This new way is so much easier”. Luckily you will be too smart this time, because you knew the voice was coming. Success will always elude you if you continue to do the same thing, like a mouse in a wheel, the cheese will always be just out of your grasp. Answer the following questions to escape the learning trap: 1. What real estate courses have I tried in the past but failed to succeed with them? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 2. Was it the course material or my lack of actions that cause me to fail? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 3. Could I have made the course material work if I had actually used it? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 4. What is it that I am always looking for when seeking out new real estate course material or studying online? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 5. Am I at the point where I know what to do, I am just not doing what I know? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 6. Who, besides me, is holding me back from achieving the level of success that I deserve? _________________________________________________________ _________________________________________________________ _________________________________________________________ Success Secret #5 Notice What Works Do you know the definition of insanity? Doing the same thing over and over expecting a different result. Sounds crazy right? Well were all crazy then I guess. One of the reasons that success keeps passing you by, is that your always standing in the same place, doing the same thing. What more could success do, then do what it has always done, which is keep passing your by. To beat the vicious cycle you need to step back and get honest with yourself. Ask the questions that need to be asked, questions like: Is what I am doing now moving me closer or further away from success? What am I NOT doing now that could be more important than what I am currently doing? Sometimes the answer will be nothing, in which case, keep doing what you are doing. What have I been doing that has worked very well for me? Identify what has been working, so that you can do more of it. What have I been doing that has contributed least to my success? Identify what has not been working, then stop doing those things, or hire someone else to do them. It's not rocket science, yet we all act as if it were. “If your doing something that isn't working.....STOP! If your doing something that is working then DO MORE OF IT!” Eric Medemar Complete the following questions to clarify what is working for you? If you have not actually started, then take a look at your past. 1. Up until now what 20% of the things that I have been doing have resulted in 80% of my results? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 2. Up until now what 80% of my efforts have been yielding 20% of my results? (If you haven't figured it out, these are the things you want to stop doing) _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 3. What have I been doing INSTEAD of succeeding as a real estate investor? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 4. Is the price I am paying to NOT succeed worth it? In what ways isn't it? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 5. What skill sets do I have that will help me towards achieving my goal of becoming a successful investor? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 6. What are some of my weaknesses that have kept me from achieving real estate success in the past? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 7. How have I rationalized my past failures when attempting to become a real estate investor? (Hint: I told myself the market was too slow, the market was too good, mortgage rates were too high) _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 8. What will I tell myself INSTEAD of these same excuses next time they come up? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ Success Secret #6 Become a Success “Clone” No, I don't mean you need to become a mad scientist and start experimenting with embryos in your basement. Instead, look to others who have already laid the path to success. Don't get caught reinventing the wheel, while the streets are full of cars. Investigate what other successes have done to get to where they are. Here are some tips for “Cloning” the success of others: Don't be afraid to ask- If you have not noticed yet, people love to talk about themselves. Do you best to locate people who have achieved the level of success that you would like to achieve. Once you have found them, ask them out to lunch (Your treat). Get them talking about all that they have achieved and how they achieved it. Pay very close attention-If you can't immediately find successful people to take to lunch then at least start paying attention to what they are doing. Find out the how, who, and wheres of their businesses. Bounce ideas- Once you have found someone to quiz about their success be sure to bounce any “new ideas” that you have off of them. Many times your “New” ideas are not really new at all. Instead of appearing new because they are new, they appear new because nobodies doing them. And, nobodies doing them because they don't work. Complete the following questions to get started on becoming a success “Clone” 1. What is Mr. X doing differently than all of the other investors out there? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 2. Where is Mr. X finding buyers for his properties? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 3. How does Mr. X market himself? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 4. What newspapers is Mr. X advertising in? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 5. What real estate agents does Mr. X use? _________________________________________________________ _________________________________________________________ _________________________________________________________ 6. Who does Mr. X go to for his financing? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 7. What clubs or organizations does Mr. X belong to? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 8. Who else does Mr. X network with that might help my business? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 9. How did Mr. X overcome his fear and do his first deal? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 10.If Mr. X could change one thing about his business what would that be? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ Success Secret #7 Know Where You Stand Your journey towards success will become far easier if you begin taking inventory of your strengths and weaknesses. Many newbies make the mistake of trying to follow the paths of others even though they share none of the same abilities, skill sets, or tools. Everyone has a God given talent. Why not USE your talents instead of hiding them away, trying to be or do something that you are not. Would it not be far easier to identify your talents, then use them? One other aspect of the success equation is making sure that your talents are congruent with the outcome that you desire. For example: If you wanted to become a top salesman, but you were very introverted and hated working with people then your chances of finding success as a salesman would be very slim. One of the main reasons why people experience a lack of congruency between their talents and what they “Believe” are their desired outcomes is that they don't want the desired outcome for the right reasons. We will use the example from earlier about the introverted salesman. We all know that he does not want to be a salesman because he loves to sell (Because selling involves everything he is not). Instead, he might want to be a top salesman because he thinks its the only way he can make any money. The problem is, no matter how bad he wants to make money, he will still be an introvert and he will still hate people. Which will lead him right back to feeling like a failure. In order to succeed you need to want things for the right reasons. Answer the following questions to help identify your strengths and weak areas: 1. How much money do I currently have at my disposal? To become a successful investor you need to plan your exit strategies around your financial situation. Having no money is not the end of the world, IF you plan your exit strategy accordingly. _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 2. How good is my credit, am I financier? If you don't have good credit then you need to use an exit strategy that does not require you to obtain traditional financing. If you are not financible there are endless opportunities for you to succeed as an investor. Just pick one and start doing it! _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 3. What skill sets do I have? Take note of the things you do well. For example if you are excellent at remodeling then perhaps rehabbing would be best for you. If you are really bad at paper work then you may want to steer clear of being a landlord. ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 4. How can I most effectively use my skill sets towards my success as an investor? Make life easier by always doing the things that come easy to you. Sure you should always stretch yourself, but your talents do have limits. _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 5. What areas am I weakest in? Some areas you might look at are: Your ability to deal with people, your ability to fix and rehab, you ability to network well with others, your ability to obtain financing, or your ability to raise cash funds. Those are all areas of investing that can be worked around while still finding your way to success. _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 6. What talents do I have that make me an ideal candidate for success as a real estate investor? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ Success Secret #7 Comparing Yourself to Others One of the quickest ways to make yourself feel poor is to compare yourself to Bill Gates or even a neighbor that makes slightly more money than you. Comparisons can NEVER do you any good. Why? If you compare yourself to someone who has more than you, then you will always have less. Do you ever feel better having less? Unless you are referring to less bills or less disease, less is usually not considered better. Comparing yourself to others who have more is ALWAYS going to make you feel lousy about yourself. When you feel lousy about yourself, then you will have a difficult time motivating yourself to do anything. Comparing yourself to others is a no win game. The minute that you can mentally “Win” against one person, then you move on to someone else who you can start “Losing “ against. If you compare yourself to people who have less than you, then you open up the door for the comfort rut. The comfort rut comes from having a mindset that says “Hey do I really need to do this, after all I am already 10 times better off than them” A much healthier and safer approach is not to compare yourself to anyone other than yourself. If you are improving on the person that you were yesterday, then you are making progress. Give yourself a pat on the back. The best way to encourage yourself to do more is to feel good about what you have already done. Answer the following questions to get out of the comparison trap: 1. Who is it that I compare myself to? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 2. How has comparing myself to others helped me in the past? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 3. How has comparing myself to others hurt me in the past? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 4. In what ways will comparing myself to others help propel me forward towards real estate success? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 5. In what ways will comparing hurt my chances of real estate success? _________________________________________________________ _________________________________________________________ Success Secret #8 Treat Your Business Like A Business If you want true success in life, you have to be willing to roll up your sleeves and work hard. There is just no getting around it, success requires work. As scary as this sounds, I have found that when people put the same focus on their business as they do their regular job, success will shortly follow. Except most people don't do that. Instead, most people give the job they hate their full attention, then if they have time or “Feel in the mood” they get around to going to work on their business. It seems completely counter intuitive that people would do something so stupid doesn't it? Well, yes and no. The main source of failure for people treating their business like a business is certainty. What is certainty? Certainty, as I speak of it in relation to your business, is that people want to be “Certain” that if they do X that they will get Y. As crazy at it sounds, most people would rather do nothing and be “Certain” that nothing will happen, rather than doing something and risking the chance that nothing will happen. Even though doing something will always increase the likely hood of having good things happen for them. Essentially, at their regular jobs people know that if they work X amount of hours, they will make Y amount of money. However, in their businesses. things are not so cut and dry. This lack of certainty causes them to procrastinate or fall into the “I'll get around to that” mentality. As you know “Later” never seems to come around. Tips for creating certainty: Develop a vision for your life- Keeping a picture in your head of how you would like your life to end up, will provide that little something extra to keep you going when hope seems lost. Have faith- Faith is believing in things that have not yet arrived. The reward for faith is seeing the things arrive that you once could not see. Write it out- This is a favorite technique of mine. Simply get out a paper and pencil and write out the things you can be certain will happen if you don't try, and the things that you can be certain will happen if you do. One thing you can always be certain of if you don't try, is that nothing will happen......Who on earth wants to be certain of that? Answer the following questions to help gain clarity for your business: 1. Judging by my past experiences, what can I be certain will happen if I keep doing what I have always done? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 2. Is any amount of “Non-doing” ever going lead me to success as a real estate investor? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 3. Even though I may not be certain of the outcomes that will come as a result of my taking action, what outcomes are likely to occur? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 4. Up until this point what outcomes in my life have I been unhappy with? What actions or decisions did I make or not make to arrive at that outcome? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 5. What decisions or actions do I need to take in the future to achieve the level of success that I desire as an investor? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ Success Secret #09 Break Through Self Imposed Barriers Stop for a moment and imagine just how frustrated you would feel if you were convicted of a crime that you did NOT commit. Your sentence for this crime is 5 years in prison. How frustrated would you feel? If you are like most people, I am sure you would do anything to escape from prison. Imagine the rage you would feel, if after serving your 5 years, you found out that you had a key to get out the entire time. Sounds crazy right? Not really, many of you have been caught in the prison cell of your mind for far longer than 5 years. And, just like the man sitting in prison you have had the key to escape the entire time. Henry Ford said it best in this famous quote: “Whether you believe you can do a thing, or not do a thing, your right.” So why do you have these self imposed barriers? Why would you purposefully sabotage your own success? It just doesn't make any sense, right? No, it really doesn't make any sense at all, if you are just looking at the action of what is happening in your mind. Once you go just below the surface though, it all makes perfect sense. It's called conditioning. Conditioning is the process that shapes your values and beliefs about yourself and about the world. Since you were born friends, family, and other members of society have been passing along their own values and beliefs onto you. The way that you see yourself and the way that you you see the world. is basically through the eyes of everyone who you have come in contact with. The problem lies in the fact that many of the people who you had contact with throughout your life had extremely limiting beliefs about themselves. Sometimes knowingly, but most of the time unknowingly, they passed those limiting beliefs down to you. You know that nagging little voice inside your head that says things like: There is no way you can do this. Don't even bother trying, it's impossible. If it were that easy, everyone would do it. Rich people are snobby, you don't want to be rich. Money is the root of all evil. Life isn't fair. Your really ugly. Do you recognize any of these clever little sayings that our mind uses against you? I am willing to bet, if you listen very carefully to those voices and look back over your life, you can probably remember the person/people who said things like that. Essentially all of the voices of failure, doom, and gloom that take place in your head are just someone else's view of themselves and the world.....Unfortunately they passed them onto you. To claim victory over the voices of defeat, you need to stand guard at the gate of your mind. You need to carefully watch over every thought that rises. When the voices of doubt appear there is no need to engage them. You don't need to start a dialogue mentally bickering back and forth between the voice that is you and the conditioned voice. When the voices surface simply notice that it is there. Then listen to what it has to say. DO NOT identify with it though, DO NOT believe anything that it says. Just listen as if you were listening to a small child tell you a story about their imaginary friend. Then once you have heard what the voice has to say simply ask silently to yourself: “How do I know this is true?' “How do I know this is true” is such a powerful question for uncovering any questionable values and beliefs that you would like to change. The power of the question lyes in where it points. The question will point you to the fact that someone else has told you, or that you believe something because someone else believed that way. Some other helpful places to look when trying to identify where your voices of defeat come from include: Good meaning friends and family members who have tried to “Protect” you from failure, by having you avoid activities that could lead to failure. Teachers and classmates who told you that you weren't smart enough, good enough, pretty enough, or tough enough. Extended family who warned you about the “Risks” of trying and failing. As you can clearly see, NONE of this has ANYTHING to do with who you are and what your capable of achieving. Answer the questions below to help conquer the voices of failure: 1. What are the 2 biggest lies that I have been believing about myself due to conditioning? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 2. How can I know that those lies are true? Remember most of the lies have NO MERIT to them so you really cannot know that they are true. _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 3. What are some of the lies that I have been feeding myself about succeeding as a real estate investor? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 4. Do I have any underlying beliefs about success being bad or money being bad? In many cases having a belief that “Money is the root of all evil” or that “Success will lead to you being ostracized” can be the root cause of you inability to succeed. _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 5. What would I rather do, try my best and fail or never try but never know? To me failure is simply a receipt that says you tried. _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ Success Secret #10 Stop Procrastinating Up until today, has the best time to get started on your journey to success always been tomorrow.? Has the delusional dark cloud of “Tomorrow being the perfect day to get started” been blinding you to reality? If you answered yes to either of those questions, don't worry, your not alone. Let's take a moment to look at the word procrastination. You might find this interesting. The word procrastination comes from the Latin word Procrastinatus. Do you have any guesses as to what that means? Procrastinatus broken down looks like this Pro ( means forward) and Crastinatus (means of tomorrow). You would have to be blind not to see where this is going. “Forward to tomorrow”, Let's put off taking action until tomorrow. Sound familiar? Okay, we've now defined procrastination, so what can you do to STOP procrastinating? First we need to look at WHY we procrastinate, then we can look at HOW to stop. One of the main reasons that you procrastinate is that you view a task as either unpleasant or painful in some way. If an unpleasant tasks NEEDS to be done, you have two choices either buckle down and do the task or find someone to do the task for you. Focusing on the outcome of your actions, can also start getting your momentum going in the right direction. Basically you can either learn to like the task or learn to like the outcome of the task so much that you are willing to follow through. An inability to prioritize also contributes to procrastination. If you are procrastinating because of a lack lack of planning then I would recommend writing out all of your “To-Do's”, then put them in order of importance. Then begin working your way through each task as you have time. Again, this is a great time to use a timer. Set your timer for 30 minute increments, and force yourself to follow your to do list in order of importance. An inability to make decisions also contributes to procrastination. Many of you spend so much time trying to decide “What” to do, that you don't actually do anything. Yes, it is important to weigh your options carefully and make fully informed decisions. One way to overcome the decision making problem is to get out your timer and something to write on. Set the timer for 10 minutes and write out all of your options. Once you have written out your options take some time to write out what the expected results of following through on those options would be. Another huge contributor to procrastination is a fear of failure. Instead of trying and risking failure, many people don't try at all. They make excuses like “I'm still researching” or “I am going to start next week”. In my mind the only true way to fail, is not to try at all. To me, failure is your receipt that says you tried. To get past a fear of failure take some time and examine these two questions: What is the worst thing that can happen if I fail? What is the worst thing that can happen if I don't try? Typically the only thing that happens when you fail is you suffer a small financial loss or a bruised ego. But, the worst thing that can happen if you don't try is you live a life of mediocrity, far below the level that God has planned for you. A favorite quote of mine about what NOT to do: “Most men lead lives of quiet desperation and go to the grave with the song still in them” Henry David Thoreau Please don't go to the grave with the song still in you. Distractions are another major cause of procrastination. Most of the time your temptation to engage in reading up on some new techniques or going online to read up on some of the latest ideas quickly leads to accomplishing none of the things you originally sought out to accomplish. One of the most frustrating causes for procrastination is a little game that your mind plays on you. Your mind takes seemingly simple things and then makes them “Seemingly impossible”. When the task has all the sudden become much more complicated than it actually is, due to your minds tricks, you decide that “It can wait till tomorrow”. As if tomorrow it will get any less complicated. One of the best solutions for avoiding this procrastination trap is to write out exactly what needs to be done, step by step, on a piece of paper, then do it. Taking these sneaky thoughts out of your head and onto some paper, will leave no place for them to hide. THE BIG DADDY of all procrastination traps is certainty. Yes, once again certainty rears it's ugly head. Except in this example I am referring to certainty in a different sense. In this example I am referring to certainty not as “Doing X and Getting Y”. In this case I am referring to simply “Being certain what to do”. One of the quickest ways to to find yourself caught in the procrastination trap is to be “Uncertain” of what to do next or “Uncertain” about what your are about to do. The key to overcoming this procrastination trap is to break big intimidating actions down into small enough actions that you are “Certain”, you can accomplish them. How do you eat an elephant? One bite at a time. Answer the following questions to help you escape the procrastination trap: 1. What is the number one task in my life that would make the largest contribution to my overall success if I started it now? This question does not need to be answered on a real estate specific topic, many times everything else in your life will begin to fall into place once the BIG stuff is taken care of. _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 2. What is the first step that I could take in the next 12 hours towards getting that task complete? _________________________________________________________ _________________________________________________________ _________________________________________________________ 3. If I knew exactly how to succeed as a real estate investor according to where I am at right now in my life, what would I have to do? Yes, this is kind of a trick question, but sneaks right around the “I don't know what to do excuse. _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 4. During my typical day what are the main distractions that I let get in the way of achieving success as a real estate investor? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 5. From this point forward, when those points of distraction arise, what will I do to overcome them? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ 6. What actions have I been putting off because I have let my mind fool me into believing that they are far more difficult than they actually are? By simply identifying the tricks that your mind has been playing on you, you will have won half the battle. _________________________________________________________ _________________________________________________________ _________________________________________________________ 7. What are the steps to becoming a successful investor? Write them out in small achievable steps. Small achievable steps create certainty, and getting certain will help you beat the procrastination trap. (Since this one is rather complicated I have included some examples) Wholesaling Certainty Steps: 1. Find and locate buyers. 2. Find out what those buyers want. 3. Find homes that meet those buyers needs. 4. Put the home under contract with the seller, using a inspection contingency and assignment clause. 5. Get buyers through the home. 6. If my buyers like the home either assign them the contract, do a double closing, sell the llc, or lease option them the home. 7. If my buyers don't like the home then use my inspection clause to exit the contract. I chose to use real estate wholesaling in this example because it is one of the few ways that I have come across to make $40,000-$100,000+ per year without the need for credit, cash or risk. If you look at the example above you would be lying to say there are any steps there that you cannot handle. You can get a FREE 8 Page “6 Steps to Wholesaling Success” Report by visiting======> http://www.UltimateWholesalingSystem.com If you really wanted to create perfect certainty you could break the 7 steps down even further. An example of breaking down the steps even further would look something like this: 1. Find buyers wholesale properties to: 1. Look for bandit signs while I am driving and call the “We buy house signs” 2. Get business cards to friends and family and let them know that “I am in the business of finding discount properties for investors and retail buyers in our area” 3. Attend a local REI Club meeting where I will network with other investors and let them now what I do. 4. Do a reverse MLS Search and build my buyers list in under 10 days. (This method is insane) 5. Spend a day with a HUD home to find top investors in my area. If you are having trouble breaking down the equation for your particular niche of real estate investing I highly recommend checking out this site: =======> http://www.RealEstateProfitPrints.com Real Estate Profit Prints is designed for investors who are tired of filler information, and just want to take a connect the dots type approach to investing success. Now create your own step by step map. Be sure to break steps down into small achievable steps that you know you can succeed at doing: Step 1 ______________________________________________________________ ______________________________________________________________ ______________________________________________________________ Step 2 ______________________________________________________________ ______________________________________________________________ ______________________________________________________________ Step 3 ______________________________________________________________ ______________________________________________________________ ______________________________________________________________ Step 4 ______________________________________________________________ ______________________________________________________________ Step 5 ______________________________________________________________ ______________________________________________________________ ______________________________________________________________ Step 6 ______________________________________________________________ ______________________________________________________________ ______________________________________________________________ Step 7 ______________________________________________________________ ______________________________________________________________ ______________________________________________________________ Step 8 ______________________________________________________________ ______________________________________________________________ ______________________________________________________________ Step 9 ______________________________________________________________ ______________________________________________________________ ______________________________________________________________ Step 10 ______________________________________________________________ ______________________________________________________________ ______________________________________________________________ If you have more steps than this then just print out an extra page. Can you remember when you learned your multiplication tables? Every day for weeks you were looking at flash cards over and over , until finally, the answers came to you naturally. I am willing to bet that learning your multiplication tables hasn't direclty made you a whole lot of money. Having said that, if you put the same degree of dedication into practicing the principles of this book, you can be assured success, wealth, and happiness whereever life takes you. To Your Success, Eric Medemar www.TheMillionairesBlog.com P.S. I have had many students ask what real estate investing courses that I would recommend. Everyone seems to want to know what courses that I have purchased. Which makes sense, if I were you I would want to know the same thing. Anyway, besides my own courses, one of the best courses that I have found is at www.TheForeclosureSchool.com I think it cost me like $47.00 and it was pretty darn impresssive. I have spent thousands on other courses, most of which were very informative as well but the course at www.TheForeclosureSchool.com seemed to be one of the best. P.S.S Not to toot my own horn, but my favorite courseis my own course available at www.GreatGuruGiveaway.com . We have put together over $700 worth of investing products for under $100 bucks. I have been told by students all across America that my course has been a real blessing. ...
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