How to Create a Freedom Lifestyle with Investment Property

Mike Wolf has made millions from, investment property, and created, freedom lifestyles, for many of his investors. Mike has helped investors in the Atlanta area build wealth and passive income from, investment property, by offering them turnkey services.

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I’m your host coach Myrna Young, as we start 2019 I wanted to spend some time on how to build wealth through the vehicle of, investment property,.  As you know I am a Realtor, an Investor, Property Manager and a, Life Coach, so I have a very high-level overview of how to build wealth through home ownership or with, investment property,.

So this month I will be interviewing experts in the field of, real estate investments,  investment property, as I help you to get into the space of building wealth in 2019.

Wealth is the vehicle that you need for any successful venture in your life, whether it’s to give your kids a better life, whether it’s to have financial freedom, whether it is to retire wealthy, whatever you need to do,  you need money unfortunately to do it with.  So building wealth through, real estate investments,  investment property, is what we’re going to be focusing on for the next three remaining episodes in our four part series.

Freedom Lifestyle

So what I will be doing is bringing you experts who have made millions through, real estate investments, investment property, and who will share the details and how they did it so you can do it too!  Be sure to subscribe to your iTunes, Google play, Stitcher, iHeart Radio, or TuneIn Radio,  so you’re not missing any episodes.

In today’s episode I have a re-purposed an interview with Mike Wolfe from back in 2017.  I thought it would be a great resource for this series.  Mike made his wealth from offering turnkey,

Investment property, services to in the Atlanta area.  His system allows his investors to sit back

and collect, passive income, while living a, freedom lifestyle,

Mike Wolf

Mike Wolfe has been a real estate investor for over 28 years.  Over the years he’s gone from being a workaholic who would put in 15 hour days, seven days a week to someone who works smarter, not harder.  He regularly travels the globe doing humanitarian projects and seeking Sun and sand while living off the, passive income, that he’s created through his, investment properties,. Mike’s company sells, turn-key real estate, and, investment property,  in and around Atlanta to investors around the globe.  He helps his investors create truly, passive income, where they get all the benefits of owning a real estate, investment property,.

How did you Start your, investment property, business?

I started, investment property,  in Calgary Canada. I was only investing in Canada back then at the beginning of my, passive income real estate, career but I had a friend of mine move to Las Vegas and when I went to Vegas to visit him, I got into this addiction.  It’s not what most people have when they go to Vegas.  It’s was not gambling or drinking.  It was  actually this addiction to go look at real estate.  I noticed that back in those days the prices of, investment property, kept going up and up.

I had no intention of investing in Las Vegas originally but I ended up doing it and it was kind of at that point I was forced to start building a team, because I couldn’t be in two places at the same time.  I couldn’t go collect my rent from my, investment property, in Calgary and my rent from my, investment property, in Las Vegas.  So I reluctantly hired a property manager.

Three phases of, investment property, business cycle.

At first you know what would I find most entrepreneur’s do is we go through three phases if we survive long enough.

  1. The first phase is where we do everything ourselves, usually because we don’t think anybody else can do what we do as well, and we don’t have the funds to hire help.  It’s kind of like for an entrepreneur our business is like a birthing a baby and you don’t trust just anybody with your baby.
  2. The second page where I had no choice but to get somebody to help me, so I reluctantly hired a property manager; but phase two is what I call the micro manager phase. I needed to about know every little thing that was going on.  So I basically told my property manager to keep me in the loop with every repair, every issue with the tenants. I remember there was one week where my property manager called me twice with the same issue,  it was about a broken fridge.  Two of my properties had a fridge that wasn’t working and in either case I tell the property manager.  I don’t think the tenants need a new fridge, just fix it.  I realized I gave the exact same answer. Let’s see what it cost to fix it and if it’s over a certain amount then we’ll replace it. I started thinking if I gave him the same answer both times maybe I can systematize this and instead of him having to call me, I can give him the freedom to follow our systems and procedures manual, which is to find out what is the  cost to fix and if it’s more than X number dollars let’s just replace it.
  3. Phase three was where I hired a team and put the right persons on our team. You trust them and they do a good job for you. I started to realize that I could build  a whole team like that, where I put the right people in the right position, give them a certain system so that they were following  my procedures then it made me feel comfortable to let them do their thing.  I would get my time back and so that was kind of the start of the transition to my, freedom lifestyle,.  That now has led to a typical work day for me these days is literally.  I wake up, I answer some emails and make a few phone calls when Myrna asked me to do a radio interview I do that and then I’m done for the day!

How to become efficient in, investment property, business:

After 28 years in the, investment property, business I still go to seminars.  I still open to seeing how other people run their businesses and how they make their money.  I’m always looking to be more efficient.  I also do a lot of personal development of work on myself.  Back in the early days I thought I was too good for all that;  but  the most successful people I know are all lifelong learners,  or at least they’re always trying to strive to be better and get to that next level.

I’m making it sound like it was a very short transition like I just did some deals and I became rich and start traveling the world.  There were a lot of ups and downs along the way.

Let’s say that you know someone is listening to this podcast right now and they want to quit their job and go into real estate full-time, because obviously they can make much more money in, investment property,  real estate then they can working for a pay check.

How would someone start an, investment property, Business?

If I  could go back 28 years and talk to myself, the first thing I would ask myself is,  Do I want to have my money work for me, or do I want to work for money?

Take advantage of the benefits of, investing in real estate, to create, passive income,

Investment property, is something you buy once and it generates income forever until you sell it.

You’ve got to be  ready for that kind of commitment.  You’ve got to treat, investment property, as a career.  You don’t dabble in it.  If you dabble in it and try and mix it part-time and with your job, I don’t see very many people being successful.

That’s the number one thing. Figure out what type of investors you want to be.  You want to be creating, passive income, or you want to get out of your job and make this your career?

Make sure you have a passion for, investment property, don’t get into it just because you see those shows on TV that make it look really easy,  flipping this property and that property. These shows make it looks like you can just every day wake up find a property, flip it, make a couple hundred grand and call it a day.  It doesn’t work like that.

So number one thing is to figure out what kind of investor you want to be.   Then the second thing that I would do is figure out what  resources you have. Whichever side of that equation you’re on. Whether you’re the passive investor side or whether you’re an active investor. Figure out what your resources are.  How much cash you have available?  How much time do you have?  How much education do you have?

When I first started I got really  lucky on that first deal, otherwise there would have never been a second deal. Then I had some humbling experiences that made me go get educated.  I got a mentor,  somebody to help me.  So I didn’t  go winging it.

Joint ventures in, investment Property,

If you were to go do a joint venture with somebody.  You have to decide what are you bringing to the table.  Are you bringing money?  Are you bringing the ability to qualify for the mortgage?  Are you bringing education? Or are you’re bringing access to good deals?  Figure out what you’re adding and then figure out what you’re lacking and then go find joint venture partners.  Find other people that have the pieces that you’re lacking.  So if you have a lot of spare time and no money,  there’s a lot of people out there with money who can’t create more hours.

I want to be enjoying time with my grandson and my daughter doing a lot of volunteer work and humanitarian things.  I don’t want to be door knocking, looking for good deals anymore.  So if I find somebody who’s got some time, I have got the money.

If you start off on that track asking yourself those two questions, then you’re going to have a pretty realistic chance of succeeding and going forward in your, investment property, business.   A lot of people have really big dreams because they go to some seminar where they make it sound really easy, because  they’re trying to sell you some high-end expensive, investment property,  coaching program.  They fill your mind with all these things you can achieve and probably only about two percent of people who go to those seminars ever end up not even earning their money back that they spent on the seminars!

People come to me after they’ve invested a lot of money in their education and their education is pretty much worthless.  So make sure you do your homework and you know what the reputation is of these quote-unquote gurus that are selling stuff.  They are professional marketers.

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Biggest Myths in, real estate investment, investment property,

I think I think a lot of myths are perpetuated by the media.  We see all these shows about flipping this and flipping that.  I feel the biggest myth is that you know,  real estate investment, and, investment property, can create, passive income, but it can also become something that takes up a lot of your time.  You might be trading your eight-hour day job for a 20 hour a day job.  It can be fun it’s exciting because you’re out there and you’re meeting new people but sometimes when you spend so many hours working on your business, you kind of forget about things such as your health, such as your family and other things start to fall apart.

A lot of people get into, real estate investments, investment property, because they think it’s going to change their lifestyle to a, freedom lifestyle, and they actually end up with actually sometimes with a worse lifestyle with no freedom, because, investment property, is  something you take home with you every day.  You can’t just say oh I’m going to work from 9:00 to 5:00 today on my, real estate investment, business. Because guess what at six o’clock when you’re having dinner with your family, a tenant will call about a leak in the bathroom! And you have to take care of it.

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Additional Resources:

https://www.forbes.com/sites/forbesrealestatecouncil/2018/07/26/eight-things-you-need-to-know-before-buying-your-first-investment-property/#10ac9ea45a93

https://time.com/money/collection-post/2954483/should-i-buy-an-investment-property/

https://blog.myhelps.us/real-estate-investment-fund-fix-flip-series-are-rental-properties-worth-the-headache/

How to Use the Law of Attraction for Couples

How can the, Law of Attraction for couples, help you to thrive at home and at work? NYT best selling author Christy Whitman talks about thriving in your relationships this week  on the Transform your Mind with Coach Myrna” podcast.

Christy is the author of “Quantum Success 7 essential laws, for a thriving joyful and prosperous relationship with your work and money”

Life coach Myrna Young interviews Christy on her, personal development, life coaching podcast.  I am speaking  to 2 Times New York Bestselling author Ms Christy Whitman. Christy is also the author of “The Art of having It All”, Perfect Pictures, and Taming your Alpha Bitch and she has a new book that’s coming out in September that’s called, “Quantum Success, 7 essential laws, for a thriving joyful and prosperous relationship with your work and money”

Law of Attraction Thriving Introduction

I am so excited to be talking again to Christy. This is our second in a series of 3. Our topic today is coming directly from Christie’s new book.

iHeart Radio

https://www.iheart.com/podcast/269-Transform-your-Mind-29542107/

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Soundcloud Transform your mind podcast
Transform your Mind Soundcloud podcast

Christie Whitman is a Transformational Leader, Celebrity coach, New York Times bestselling author twice, one for “The Art of Having it All” and the second for “Taming your Alpha Bitch” I love that title! Christy has appeared on The Today Show, the Morning Show, and her works have been featured in People’s magazine, Seventeen, Women’s Day, Hollywood Life, and Teen Vogue among others.

Christie is the CEO and founder of the Quantum Success Learning Academy and Quantum Success Coaching Academy a 12-month, Law of Attraction, coaching certificate program. Christie has helped thousands of people through her empowerment seminars, speeches and coaching sessions, and products.

Christi’s life-changing message reached over 200,000 people a month, and her work has been promoted by and featured with esteem authors and luminaries such as Marianne Williamson, Dr. Dwayne Dwyer, Marci Shimoff, Brian Tracy, Neil Donald Walsh, Abram Hicks, and Louise Hay. She currently lives in Arizona with her husband Frederic and there are two boys Alexander and Maxim.

Christy’s Journey as a Law of Attraction for Couples Coach

Myrna – That’s was a very impressive Bio. I loved reading it. As a, life coaching podcast, I am always interested in my listeners learning life skills from my guests stories. You’ve done a lot, you’re quite accomplished. Can you give us a little bit of your backstory? Tell us your journey to becoming a successful, Law of Attraction for couples, leader and, quantum success, coach .

Christy – Sure, I always had the drive to be successful, and worked with the, law of attraction, back in day about 20 years ago, before I found the other universal laws, I did what it took to take action. I had perseverance. I went after the things that I wanted. I was able to focus, using the, law of attraction for couples, but whenever I got there, I never felt satisfied.

Using the Law of Attraction for Couples to Bring you Happiness

I never felt happy, never felt like it was enough. So no matter what I accomplished, it just didn’t good. When I actually accomplished something great, it actually would feel the opposite. I remember almost feeling let down, like okay well I was supposed to have this epiphany. I was supposed to have this, amazing feeling. I would never find that feeling of satisfaction.

When I learned more about, the law of attraction for couples, about 21 years ago, I really learned about how your thoughts create your reality. I had already been successful and I had a great career going. I was making money and yet, just wasn’t satisfied. I just felt like all the things that I was told would make me happy it wasn’t working and I was starting to think like what’s wrong with me.

I thought if I had money, if I had the career, if I had a boyfriend, if I had this great body, look a certain way, then I would be happy, and none of the outer things were doing it for me. It was when I found a sense of myself, through meditation on the, law of attraction for couples, and through really returning to myself, stopped focusing outward on everything and everyone outside of me, a healthy selfish me.

I found I was coming back to myself. I started paying attention to the thoughts that I was thinking, that was activating, the law of attraction for couples, and how I was feeling and what I really came to understand, what my body of work really has been now, is that I have to be very mindful of that no matter what situation we’re in, we can always find peace.

How to Have it All using the, Law of Attraction

How the Law of Polarity interacts with the Law of Attraction

The law of Polarity, there’s a lot of things to appreciate and be grateful for. That’s what my bodywork has been. My whole training for last 21 years has been really sensing within myself where I am. Thinking thoughts of lack and limitation, where I comparing myself to other people. I look at other people and go oh my GOD, there’s so much more successful than me and then start feeling bad about myself and feeling like what I’ve accomplished is not enough.

Or do I compare myself to what other people are making? Or what impacts are my thought having? Those are times to check myself, look for what’s right and good about my life and about my family and everything in my life versus what’s wrong and bad.

These are a different training and a different mindset to come from a perspective of abundance instead of lack and limitation, and that’s really where my internal work has been. Each time I shift up belief, a thought, a perspective from lack and limitation to one of abundance, my life just expands and explodes.

So those are the principles that I write about in my new book, Quantum Success, is that we’re all searching for some type of success, and the accolades. You know what society says is this is accomplished, then you’ll feel successful and a lot of people get there, and they feel empty, they feel like that it doesn’t have much meaning in their lives or they’re not feeling satisfied or fulfilled.

The truth is that as long as we’re chasing things outside of ourselves we’re always projecting our happiness or our fulfillment outside of ourselves. Fulfillment is never outside of ourselves, it’s within ourselves and it’s in the present moment. where all of our power exists.

How does The Law of Attraction for Couples Help in Relationships

Myrna – My first question is How does understanding your belief system help women and men who are functioning at high levels in their career or own their own business, but they’re still struggling to find contentment or happiness? How does understanding the, law of attraction for couples, help? How does understanding, quantum success, principles help in relationships?

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Christy – Our beliefs are one of the ways that we create. I mean when you think about it, when we have a belief and there is such a conviction that this is so, that this is the way it is, we will create that’s what we are expecting to receive. It’s what we are expecting life to give us. We can’t create outside of our beliefs. If we believe that something good is going to happen, we then create something good.

There’s an underlying belief that what we are creating we the deserve. We’re not deserving or whatever it is; but we are always creating attracting things from the beliefs that we hold and here’s the good news. If we look at our lives and we’re not satisfied, we need to shift what we’re not satisfied about. Look at what the contrast is in our life, what we don’t want and allow that to be the springboard for what we do want.

I always ask myself when I’m finding a situation or circumstance happening in my life, I always ask myself what would I have to believe in order to create this? How does understanding the, law of attraction, facilitate my knowledge?

How Journaling helps Relationships

It’s an empowering question. I recommend even journaling about it because a lot of times if you sit there and if you haven’t done this practice before, you will not come up with an answer. I would take 10 mins with paper and I would journal. In order to create this situation what would I have to believe? What would I have to think? What would I have to be feeling in order to attract this?

You become more self-aware. I mean it’s really the process of self-awareness and when we can slow down enough to pay attention to ourselves, that is the richest thing that we can do. Not only are we connecting with ourselves, which most of us don’t do these days we’re so busy with so much going on our lives, we need to take the time to slow down and connect with our own self, to know ourselves, to know what you believe about this and that. Beliefs are not either right or wrong. This is a, life coaching podcast, so I will answer with life coaching tips.

Law of Attraction

I love when you said that most people are not conscious. As a Guyanese, I want this to also be a, Guyana podcast, Most people including Guyanese people, do not understand the, law of attraction, You use the word self-awareness which is another term for consciousness. I’ve spent a lot of time with that word in meditation and being aware. I live in higher consciousness, personal development, yet at my level right now, I will not be able to look at a situation and figure out how I created it.

I’m not there yet, but I’m in the less than 1% of the world that actually are working on self-awareness, consciousness and, personal development, As a, life coaching podcast, I teach my clients basically that whatever they want, they can create. It starts with their thoughts and starts with their belief system. You and I are both, personal development, coaches and one of the first things I do in my coaching sessions, the first couple of weeks is basically we talk about beliefs and we look back at past behaviors. You can actually figure out what you believe from how you have navigated situations in your past.

The Law of Attraction for Couples and the Universal Laws

What exactly is the, Law of Attraction, and why is it important to know the universal laws and, quantum success? The, Law of Attraction for couples, for me when I learned about it completely changed my life and the reason that they completely changed my life or that my life completely changed is because they’re for me like knowing the rules of the game or knowing the recipe to a really good cake or you know the plans to build a house.

I always say how successful would you be if you were going to go play baseball and you never saw the game before? You never knew how it was played? You don’t know what the rules are. Someone hands you a bat and says okay hit the ball. You can’t play the game if you don’t understand the rules of the game. What to do when you hit the ball? How can you get thrown out etc.

Life is similar, you have to learn the rules of the game, you have to learn the playbook. The first step is about learning these, essential universal laws and the, law of attraction, and applying them so that you become the deliberate creator of your life instead of being a victim of circumstances. There’s always going to be some kind of circumstance or situation or event or person that shapes our experiences.

It’s what we do with those experiences the perspectives that we hold, that will determine what we continue to attract in our lives. So the more you learn about these, essential laws of the universe and, the law of attraction. Knowing these universal laws is knowing the rules of the game.

The Seven Universal Laws

I try to make myself a million dollars by working with the, law of attraction, and the seven essential universal laws. We live in a vibratory universe, our universe is all about vibration. Modern science and quantum physics have now proven that everything from a human being to a rock is full of energy. Everything is energy, our thoughts our feelings, what we say, what we do, everything is coming out of us like an energy tower and we as an individual person are sending out energy signals all day every day.

The, Law of Attraction, is just matching those signals that we send out, and giving us more of the same. Now it’s not a tit-for-tat kind of thing, it’s not like oh I told someone they were a jerk and now someone’s going to call me on a jerk. It’s not like that literal, but if you’re sending out negative vibes you could be in traffic and someone could cut you off and you’re experiencing road rage, that negativity for example that wave of negativity will then cast out a returning wave of negativity to you.

So we have to be mindful about the energy that we are sending out. The thoughts that we think, the language we use. We don’t feel good when we’re sending bad vibes out, so using feelings helps makes for better choices.

For example, language like I choose not to put up with this marriage anymore. I choose not to be treated like that anymore. I choose not to waste my money or spend my money on this right now. Those are more empowering ways and languages that we can use that actually do make a difference in what we attract. The, Law of Attraction for couples, is really a mirror reflection. I like to think of it as a boomerang, it’s like what you’re sending out it’s coming back to you.

Law of Sufficiency and Abundance 

The most important law from the seven essential laws of the universe, I believe is the, Law of Sufficiency and Abundance. This law states that everything in the universe is abundant. Most of us are experiencing abundance of lack or pain or suffering, but the universe is always going to give us an abundance.

If you look at nature and look at trees you can’t say we can’t possibly count the amount of leaves that are on a tree or how many waves crash up again against the shore in the ocean, or count the raindrops that are coming down from the sky. The universe has always functioned in abundance, and to get what you want from the law is called sufficiency and abundance, it’s being in a satisfied place.

It’s coming from sufficiency. You get there by appreciating and looking for the good. In your life right now, in any situation, I don’t care what it is you can find the good things about it. The law of Polarity says that every subject is really two subjects, it’s the halving of it, or the not having of it. It’s the lack of it or the abundance of it, and when we can deliberately choose how we want to focus, what we want to believe, what we want to appreciate, or not.

How Gratitude engages the Law of Attraction for Couples

Were the ones in charge of which area, what side of the spectrum, we want to be on any given subject, but the doorway into abundance is sufficiency. You start by practicing gratitude. I first started doing gratitude meditation, I would literally walk around and think of a hundred things a day, listing all of the things that I was grateful for and that would raise my vibration, it would make me feel so good and things started, almost like magic, would start being attracted into my life.

Another thing you can do is think about one thing you’re grateful for and think of 20 things or reasons why and it’s not lip service, it’s not like I’m grateful for my husband and I’m grateful my kids, there’s no energy behind that, there’s no pain, you have to feel the emotion. Doesn’t work unless you feel. That’s why affirmations work for some people, and they don’t work for other people because people are like I’m abundant, but there’s no energy.

The other Universal Laws

These are seven essential laws of The Universe:
• The Law of Attraction,
• The Law of Allowing,
• The Law of Pure Potentiality ,
The law of Oneness,
• The Law of Balance and Harmony,
• The Law of Sufficiency and Abundance,

These universal laws, when you apply them and learn how to work with them, they will absolutely change your life.

The Universe sends human beings countless signs and symbols over the course of their lives, and if you are able to comprehend them, you’ll be able to sense when you’re on your destined path in life—and when you’re not. Please read the list below to make sure you haven’t missed any vital info, and to ensure that you’re on the right journey.

Here are 13 signs The, Law of Attraction, is working for you
https://ewao.com/2017/10/24/13-signs-the-law-of-attraction-is-working-for-you/
I love the Law of Sufficiency and Abundance. Deepak Chopra used to say we are just like a wave in the ocean, that the universe is abundant. We’re not going to run out of water, we’re not going to run out of grass, sunlight. I’ve used this Law, let’s say that you want a promotion and your friend gets it.

You’re jealous and you’re envious, that is a blockage because it means that you believe that is universe does not have enough for the both of you. if you say I’m happy for my friend, because this world is abundant and she’s not taking my job, there’s more available for me, and you’re happy and you celebrate that person’s success, what that’s saying is that you believe that the world is abundant.

You believe that whatever God can do for her, he is going to do for you, and that’s where a lot of people don’t get it. They’re always envious and they’re always catty and they’re jealous and they can’t celebrate your success. Abraham talks about this. She talks about contrast, she says go out there and look for contrast, look for things that you don’t have and say that’s what I want and be happy for that person. But most people don’t live there. The do not understand the, the essential laws of attraction.

We’ve been talking about the, law of attraction, the playbook, personal development, quantum success, and making this a Guyana podcast, for my people.

Be aware of fear and desire. Awareness helps balance them ~ Deepak Chopra

To get a FREE copy of Christy’s book, Head over to iTunes snd leave a review for the Transform Your Mind with coach Myrna podcast, then head over to www.quantumsuccessbook.com and Kristy will send you her new book when it comes out in September for free. All you do is pay for shipping. Kristy will be back for one more episode.

Our topic will be “How to reverse the negative momentum in your career.” So remember to subscribe and you will not miss any new episodes. If you are from Guyana, I hope you enjoyed this, Law of Attraction podcast, leave me a shout out in the comments.

Additional Resources

Using the Law of Attraction to Have it All

How to Create the Freedom Lifestyle through Real Estate Investments.

How to Create the Freedom Lifestyle through real estate investments.

Would you like to learn the secrets of creating a Freedom Lifestyle with Real Estate investments? Then listen to this weeks podcast as I interview Mike Wolf, Real Estate Investor.

• Mike Wolf has been a real estate investor for over 28 years. Over the years he’s gone from being a workaholic who would put in 15 hour days 7 days a week to being someone who works smarter not harder. He regularly travels the globe doing humanitarian projects and also seeking sun and sand while living off the passive income that he has created through real estate.

But before I share Mike’s advise with you, let me give you my tip of the week. Because I know you really want to know how to get rich!!

You can read the full article here:

7 Steps to become Rich

How To Get Rich: A 7-Step Blueprint For Success

Step #1 — Add Massive Amounts Of Value

Go out there into the world with the desire to add massive amounts of value?.

Step #2 — Be Grateful

It’s really easy to look at certain strategies and techniques in business or in life that will help you make monumental leaps forward, financially speaking. But that doesn’t take into account one of the most important ingredients for success. If you’re serious about succeeding at the highest level, be grateful. Not tomorrow. Right now. In this very moment. Why? Because it could all disappear in an instant. Appreciate what you have while striving for more.

Step #3 — Get Specific About Your Goals

Getting wealthy or attaining a certain level of income is just like achieving any other goal. To get there, you need to ensure that you set those goals the right way. Set SMART goals and be very specific about them. Don’t set them arbitrarily in your mind. Write them down and come up with powerful reasons why you absolutely must achieve them. That’s one of the biggest and most potent internal transformations that you could make in your mind.

Step #4 — Create And Follow A Plan

When an airplane leaves from one city to the next, it has a plan. Its plan is called a flight plan. It’s a massive action plan that involves speed, altitude, direction of travel and many other facets. But what happens when there’s turbulence or air-traffic congestion or it needs to change course for some other reason? The plane changes its plan. But it doesn’t change its goal of where it’s going. Create and follow a plan, and don’t be afraid to change it if you see something isn’t working.

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Step #5 — Pay Yourself First

We’ve all heard the saying. Pay yourself first. But how many people follow it? The truth is that most of the world lives with a scarcity mentality. They go paycheck to paycheck, petrified of what might occur if they get sick or lose their job or something else traumatic happens. The truth is that if you don’t pay yourself first, you’ll never be able to get rich. It’s part of having an abundant mindset and should be prioritized at all costs.

Step #6 — Mind Your Own Business

While it is possible to make a lot of money while working for someone else, the truth is that you should mind your own business. Start and grow your own business, no matter what it might be. Identify what you’re really good at, and develop the skills into a business that you can expand over time. Don’t look for instant payouts or overnight riches. The reality is that it’s going to take time, so you might as well start now.

I wrote an Ebook called “How to Mind your own Business, While working your Day Job”

Download your FREE eBook here:
http://myhelps.us/

Small Business: How to Mind your Own Business while working your day job

Step #7 — Contribute To Others

The last step resides in the concept of contribution. Even if you have no money, find a way to contribute to others. Look for opportunities where you can help those around you. Whether they’re in need or not, this mindset will drive home the point that you have more than you need, even if you physically don’t. Search for ways, every single day, where you can contribute either your time or your money to those who might be less fortunate, because that’s the true essence of success in every form.

Also click the link below to hear from Tony Robbins on how to create Wealth and Lifestyle

Learn the secrets to true wealth, abundance and financial freedom at TonyRobbins.com.

Show Notes:
1. Question 1: Can you tell our audience your journey from being a 15 hour per day 7 days a week workaholic to living off passive income and travelling the world.
2. Question 2: As an investor for 28 years, what are some things you have learned that work and some that don’t work.
3. Question 3: How does someone get started as a real estate investor?
4. Question 4: What would you say are some of the biggest myths in real estate investing?

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Question 5: How do you show potential clients that trading their time for dollars is not worth it?
What does your company do for investors around the world?

My company buys real estate in bulk 20 to 40 at a time for a great package price. We sell the properties that are not worth rehabbing to the Hedge Funds and then team fixes up the rest of the properties and have them ready for a turn key operation for our investors.

Question 6: What is the strategy for living Freedom Lifestyle through real estate investments?
Our strategy is to have the renters become potential home owners and give them a 3 year lease with the option to purchase. They then take care of the property as if is is their own so we have less vacancies and move outs.

1. Can you tell our audience about your webinar on how to create turn key properties?
How can our audience sign up for it?

Here is the link to sign up for Mike’s webinar

mikewolfproperties.com/webinars/turnkey-properties-in-atlanta-live/replay/

Please subscribe, rate and review if you liked this content.

Subscribe to the Transform Your Mind Podcast

Is Starting A Real Estate Investment LLC A Good Idea?

Real Estate Investing LLC

This week on The Mindset Transformation Radio show and Podcast with Coach Myrna and Rich Dad trainer Trevor Evans, we discuss the topic “Is Starting A Real Estate Investment LLC A Good Idea?”

This is the 6th episode in our Funding, Fixing, and Flipping Series:
Listen in to understand how important setting up your Real Estate Investment business with the right tax structure, would allow you to keep most of your investment income and not pay all of it to the tax man!

Tip of the week from Coach Myrna: Landlord LLC benefits
If you hold and rent Real Estate, this article could offer massive insight on one possible way to structure your company. We are not giving legal advice, just questions for you to ask you asset protection attorney.
Keeping in mind the risks associated with opening your business as a sole proprietorship, consider using this scenario for your business.

Open an LLC, purchase a property, but don’t manage it. That’s right, don’t be the one to manage the property. You can use the combination of a C-Corp and an LLC. Let the C-Corp manage the company. This is good to reduce liabilities. How? Let’s take an example.

For the last four months, the tenants have been complaining that the parking lot in the complex you own is too dark. They don’t feel safe walking to and from their cars at night and want to have you install more street lights to brighten up the area. They continue to complain to the management company, the C-Corp, letting them know of the issue. Having not addressed the concerns, the parking lot remains dark and one night, while walking in from her car, a young mother of two who live in your property is robbed at gun point in the dark parking lot. When she sues, who is liable? The LLC? They own the property, so it would be them, right? Wrong.
The C-Corp, as the managing entity, is the responsible party when it comes to any damages and liabilities incurred because of this incident.
The LLC, having limited liability, is protected. This is something very important to keep in mind when making the decision on which type of entity you wish to use.

For more information on setting up the structure of your Real Estate Investment business, check out this Connected Investor Blog post

http://connectedinvestors.com/blog/real-estate-investment-llc-vs-s-corp/

So, What are the Pro’s and Con’s of LLC for Real Estate Investing? Is starting a Real Estate Investment LLC a good idea?
Tune in to hear Trevor’s answer.

What exactly are the major differences between an S-Corp, C-Corp and an LLC as it relates to real estate investing?

A C-Corp is a management entity. As per my tip of the week. Use your C-Corp to manage your rental properties.
So, in case you are sued for negligence, the C-Corp would be the benefactor of the law suit and you as the owner would have no liability.
The C-Corp also has more leniency in regards to what expenses can be written off; but the biggest benefit of having a C-Corp manage your rental properties, is the ability for the C-Corp to collect rental revenues and pay the HOA dues and other expenses from these revenues. You as the owner of the property, would only be responsible for your positive cash flow at the end of the month.

If you were collecting the rents in your personal name then you would have to claim the entire amount as income.

LLC – A single member LLC offers no asset protection and is charged with self employment tax.
A multiple member LLC has asset protection.
A multiple member LLC, members are not liable for debt incurred by the LLC
A multiple member LLC can be viewed by the IRS as a partnership and as such the members can determine the split or who gets what.

S-Corp or self corporation is a flow through entity.
Used primarily to expense big ticket items that cannot be expensed by the LLC.
The S-corp does not pay taxes, its members file a K1 for any income not written off and that income is taxed at their income level.

Some other questions answered by Trevor:
I have a rental property in my personal name, can you tell me the pros and cons of transferring that property in an LLC?

I have no mortgage on this property. Could I have transferred it into an LLC if I had a mortgage on it?

What are the states that have the most conducive laws that benefit the Real Estate Investor and protect the LLC?
Can you explain some of the benefits of incorporating or forming an LLC in Florida?

For additional reading, here is an article on “Is Starting A Real Estate Investment LLC In Your Future?
As Investopedia so eloquently puts it LLCs are a “corporate structure whereby the members of the company cannot be held personally liable for the company’s debts or liabilities. Limited liability companies are essentially hybrid entities that combine the characteristics of a corporation and a partnership or sole proprietorship.”

If you found this blog post and podcast inspiring, please Subscribe, rate, and review this podcast, then send me an email to info@myhelps.us with the subject line “podcast review”

and I will send you a Free Gift! The Mindset Shift Focus Wheel.

This is a workbook to change your Mindset from a Fixed Mindset to a Growth Mindset. This is so important for success in investing. It will allow you to look at an opportunity with the eyes of an Investor and not with the eyes of an employee. As an employee you have the Mindset of limits and security.
Until next time Namaste.

Investing in Real Estate: What is the number one mistake people make trying to flip houses?

What is the Number one mistake people make when Flipping houses

The number one mistake people make when investing in real estate is investing before understanding the rules. Listen to learn the rules to win the game of investing in real estate.

A few weeks ago I interviewed my co host Trevor Evans on the topic “The path to Financial Freedom” We received such an overwhelming response to that topic that I decided to have a spin off series on Real Estate Investing. Trevor Evans is a Speaker/Trainer for Legacy Education Alliance and Rich Dad Education. Entrepreneur, Real Estate Investor. Banker and Founder of Personal Awakening Brand “Being Normal Sucks.”

We will start off our series teaching on one of the most popular investment strategies in Real Estate Investing “Funding, Fixing and Flipping.

Flip or Flop

Doing my research for this topic, I found that there is a plethora of mistakes beginning investors make when working with rehab properties. Many of them because of watching shows life MTV’s Flip or Flop where they always end up making the right choices and thus make thousands of dollars in profit!

My co host and I both agree, since we are both Abraham Hicks students, there is nothing wrong with looking for contrast around you and choosing what you want to bring into your vortex.
We are setting the intention that all you would be investors or current investors will gleam from our knowledge and make fewer mistakes with your real estate investments. So if you do fail, you would fail forward!

One of those investment vehicles is to Fund, Fix and Flip houses. It is by far the most popular vehicle because of the opportunity to make a lot of money quickly.

So, make sure you tune in to this podcast twice per month for our series or subscribe to my podcast so as not to miss anything!

In keeping with the format of the show, I want to leave you with my tip of the week.

This week’s tip of the week: Winter is the best time to purchase Real Estate”
From the book “Your money and how to keep it” by Brian Costello

“While economic development can make a difference when it comes to purchasing a house, there is no question that winter is by far the best time to buy.
Think about it for a minute, the weather is freezing cold, the winds are gusting, everything is covered with snow, everybody wants to stay inside where it is warm – and those few who do go outside to see houses that look unattractive because they are knee-deep in snow are serious buyers. Could there be a worst time to be out braving the elements looking for a house? No.
And that’s exactly what happens. Everybody sits tight. No one even thinks about buying a house in the winter months. They are all waiting for the grass to turn green and the flowers to start to bloom.
In the meantime, houses are being put up for sale. The biggest reasons for selling a house still affect the marketplace, no matter what the weather. They include family breakups, company transfers, deaths, and financial hardships.
When a family splits, it’s not uncommon for the house to go up for sale right away as neither spouse has enough money to pay for it outright. If your boss decides to transfer you to another city, you generally have no choice but to move. As a result, your house might be on the market right away, no matter what the market is like. Most of us can’t afford to pay the cost of accommodations in two different locations.

Death, financial hardship, and divorce happens throughout the year; summer and winter. But to have them happen when there are fewer buyers interested in another house always works in the favor of the buyer. It is the old law of supply and demand. And that is what you see in the winter months. There is more supply than there are buyers, so the buyer is in a much better position to demand a lower price, better financing terms or a combination of both.
Winter is also a good time to check that the thermostat is working correctly by looking for heat loss. If the prospective house has less snow on the roof than the other houses, it could indicate that insulation is lacking. When you get inside the house you can listen to the furnace. If it goes on and off while you are there, you know that the house has drafts or furnace problems.
These are some of the reasons why winter is the very best time to get a bargain.”

That is my tip of the week. I hope that you received some nuggets about house hunting for bargains.

Here are some show notes from our expert Trevor Evans:

Words do not make you an expert, experience does. I practice what I teach.

Trevor feels that he is an expert because he is not only a teacher but he is putting in work in the field.

Question: “What is the catalyst to your success as an investor?”
Answer: “Understanding the rules.”

Reasons for failure as an Investor

Most people play the game of investing in real estate with enthusiasm and talent.
Talent could be their investment funds or just understanding money.
But in any game, You should play to win!
In order to win, like in any sport, you must understand the rules.

If you don’t understand the rules, your talent and your enthusiasm will run out before you can win!

But if you combine your Talent and Enthusiasm with Competence, then you could win the championship or make lots of money!

So let’s answer the question:

The Number One Mistake People Make – Getting into the Rehab Game?

Watching TV shows like the Flip or Flop people think that they can just buy a house, throw some money into it and then flip it and make lots of money.
They do not see the underlying problems that happen to first time investors who do not know the rules of the game.
The flip or Flop investors are doing great now; but I am sure it took them a number of years of failure by trial and error to understand the rules to win the game.

Investing is not easy but it is simple, if you follow the rules

Over your head

It is a process that is done through setting up a system or a set of principles.

Principles do not create success, they prevents failure.

3 Reasons for Failure:
1. They get emotionally involved
2. They pay retail
3. They become intimidated

Listen in to learn how to overcome these reasons for failure.