I can't afford it. Money doesn't grow on trees. What do you think, I'm made of money? Money isn't everything. Money can't buy you happiness. Money can't buy you love. The rich get richer and the poor get poorer. Or if you're religious... Money is the root of all evil. And paraphrasing Jesus... "A rich man cannot enter the kingdom of God". Or on the other side... "Get rich or die trying!" - but not to confuse... That last one isn't from the Bible.
Welcome to Episode #33 - How Do You View Money? Do you have any? Or does it flee from you as quickly as it comes near?
I'm sure you've heard all of those sayings before that I lead with. You've likely said many of them yourself at some point. I know I did. Until I realized that thoughts and statements like those are poison traps - it poisons your mind when you think that way, about money. As poor and broke people think that way and they make statements like that. Rich people don't think this way - they don't speak like that, unless they're trying to make themselves seem relate-able to the poor and broke.
So this will be one of the shorter episodes, as I just want to quickly put some thoughts on your mind as to what holds most people back from obtaining real wealth in their lives - and its not other people.
Sure, there are many exceptions to that statement, but for the vast majority of us (despite Racism and Sexism and all the other aspects of discrimination, phobias, stereotypes and hostilities many of us encounter in life, and on a daily basis) - the number one obstacle we face lies between our own ears. Somewhere in our brain is us - and we are each our own biggest obstacle to overcome.
For instance, I know for a fact that I am my biggest obstacle. To give you an example, it really makes me mad every time I’m driving through my neighborhood, and I see a ‘For Sale’ sign out in front of one of my neighbors’ homes. I’m a realtor - do they know that? Probably not, because I’m too lazy to get off my butt and go knock on everyone’s door in the neighborhood and say “Hey, I’m a realtor. Do you know anyone who wants to buy or sell a home?”
I could be making tens of thousands of dollars a month more than I am making now If i would just get off my butt and go make the effort to go knock on some doors, hand out flyers, hand out a business card, give out a refrigerator magnet - anything to market the fact that I am a realtor to my neighbors.
I just don’t do it. I don’t want to do it. I dread the thought of having to do it. But if I did, I would be far more successful in my realty business than I am now. So, I am my own biggest obstacle. I know what I need to do. I’m fully capable of doing it, I just don’t want to, so I have to make myself go do it. Or, I can hire someone to do it for me, which is probably what I will end up doing. But, generally speaking, I know that doing it myself will be more effective, and I usually do things myself, at least initially, before hiring someone to do it, so I know what’s involved - how long it takes, and everything related to the task that I’m now outsourcing.
But my point is that there’s nobody stopping me from going out and getting that money. The money’s there. It’s ready to be claimed. All I have to do is go and get it. It’s a matter of whether or not I want to put in the effort to go get it. That’s the question. And even if one, or two, or maybe three, of the hundreds of doors that I could go knock on, resulted in a listing or a referral, that’s still thousands of dollars that are just sitting out there waiting for me to get it. It’s almost certain that I would If I just put in the effort. Even if I took the easy way out, and just send direct mailers, it would still have a certain level of success. It’s just a matter of doing it.
So, who’s my obstacle? There’s no one out there stopping me from doing it. I am the obstacle. I, just like you, we are our own biggest obstacles to overcome.
Maybe you've heard this quote... There are like 5 or 10 people who have been credited with this quote, but it goes...
"Watch your thoughts. They become words. Watch your words. They become deeds. Watch your deeds. They become habits. Watch your habits. They become character. And character is everything."
So the first thing highlighted here are your thoughts. And for the sake of this episode and the statement I lead with, I want to focus on what your thoughts are when it comes to MONEY. Are you on either of the extremes of "Money is the root of all evil" - so you feel the effort to obtain money makes you a bad person, as are those who have it? Or the other side "Get rich or die trying" - so you're willing to do anything for money.
Probably you're like most people, and while you may not think money itself is evil, you're likely harboring thoughts that many (or even most) who have a lot of it obtained it by less than ethical means - they had to (lie, cheat, steal, rob, misrepresent, mislead, abuse, extort) - or just got lucky. You may even look down on such people from a position of perceived ethical superiority - or envy them, wishing you could "strike it rich" like you think they did.
And in this process, you likely have accepted and even repeat many of the sayings like "more money, more problems". In your thoughts, you've place money in a place where having or pursuing it is a bad thing. Those thoughts becomes words like "I'd rather be happy than rich" - as if you can't be both. And words like these become deeds that will make it much harder for you to become rich or wealthy. Those anti-wealth deeds and actions will become en-grained poor or broke person habits that will insure you'll never become rich. Money will forever flee from you, if it comes near to you to begin with.
And why would money stay with you if you treat it poorly? If you kick a dog, do you expect that dog to repeatedly return to be kicked over and over again? Money is no different... If you mistreat it, it will leave you and likely not return. How you think about money will ultimately determine how you treat it and if you'll then be able to accumulate great amounts - called wealth. You certainly won't obtain a lot of something you treat and think poorly off. Consciously or otherwise, you will do the needful to make sure that you have little to none of what you don't value.
So let me repeat the statements that I lead with...
- "I can't afford it."
- "Money doesn't grow on trees."
- "What do you think, I'm made of money?"
- "Money isn't everything."
- "Money can't buy you happiness."
- "Money can't buy you love."
- "The rich get richer and the poor get poorer."
- "Money is the root of all evil."
- "A rich man cannot enter the kingdom of God."
- "More money, more problems."
- "I'd rather be happy, than rich."
If you say these things (to yourself or out-load) - If you think this way about money... That is your biggest obstacle to ever being rich or obtaining wealth. Like I said, YOU are your biggest problem. There's nobody holding you back, but YOU - and your toughs, words, deeds (actions) and habits - when it comes to something we all claim to want more of, yet most of us do nothing serious or consistent to make that happen. And then we blame other people for our less than desired outcome.
For me, just saying these things out-loud create a feeling of dread within me, as thankfully I don't think like this about money. Because money is NOT the root of all evil. Mark Twain said "The LACK of money is the root of all evil."
Think about it... When people are doing things in line with that “Get rich or die trying” mentality, to get money, and harming people in doing bad and evil in the world, it’s not because they’ve got an abundance of money. They’re doing those things because they lack money, and they lack a mindset that tells them what else they could do in order to obtain that money. So, they’re willing to do anything, and it doesn’t matter if they have to go through you to get it. That is the root of evil.
And I know that that one and the paraphrased "A rich man cannot enter the kingdom of God." - from the Bible, are the ones that get most of you. They got me too for a LONG time, until I realized that many of the highly favored people spoken of in the Bible were REALLY RICH. Being rich wasn't the problem. It was how they got rich and what being rich brought out of them.
So, no need to belabor this point. My purpose of this episode is to get you to consider your thoughts about money. How do you speak about money? What are your deeds and actions related to the handling of money? What are your money habits? Are you a person who attracts money and opportunity for money. Or when opportunity comes your way, do you kick it in the face as you would an attacking dog? While complaining about how you can't catch a break?
I don't let opportunity pass me by. In fact, I seek out opportunity. Next week, I'm flying to Ohio for 1 day just to be in the room with a person who has many more rental units than I do. I hope to learn from this person - maybe even partner with him on deals. Would you take time off from work, spend money on a plain ticket and pay for a hotel (I used points for both) - just to meet someone in person who is where you want to be, doing what you want to do?
Many would wonder why such a person would be willing to teach me anything - as I then potentially become his competitor. You may likely wonder why I have this Podcast telling what I'm doing, as you might then learn to become my competitor. The answer lies in how most successful people view money, the world, the universe, God. We have an abundance mentality.
I don't think money in your pocket is money NOT in my pocket. You don't have to do badly for me to do good. Even if you're right here in Durham with me, I don't think you getting your first (or another) Rental Property is a loss for me. Congratulations! I'm happy for you! Because I'm still going to kill it in this business, and I'm happy you're along for the ride - and it gives me pleasure if I played any role in that.
And hey, now or at some point in the future, you might need a Realtor or Property Manager (and here I am, having helped you in the past). And if you are a decent person, as most people are - you'll feel the need to reciprocate what I did for you. Or one day you may be in a position to be a Private Lender on one of my deals, or you may send me a deal that you couldn't take down yourself or for which you need a partner.
You see how my view of money and opportunity doesn't require that I step on your neck (lie, cheat, steal or otherwise) on the way up the ladder of success. In fact, it benefits me to bring you along on the journey so that you're in a position to push or pull me up as well. If I leave you behind, well now I'm on my own - That's why I have this Podcast. I want your company on this journey to wealth and financial freedom through Rental Real Estate Investing.
So to that end, let's start working on how you view money. Because you can't associate with me if you have a negative view of money, wealth or those who are rich. And likewise, YOU also need to stop or limit your association with those who kick money in the face or otherwise have thoughts, words, deeds / actions and habits that make money flee.
You've likely heard... “You’re the average of the five people you spend the most time with,” a quote attributed most often to motivational speaker Jim Rohn. And there’s the variant “show me your friends and I’ll show you your future.”
So just like I mentioned in last week's episode, you might need to block or limit some people from having too much access and influence in your life. You also need to association with people who think differently than those negative influences. Because I'd actually expand that quote to more than just 5 people. You're influenced by far more than just the 5 people you call friends or spend the most time with. Thankfully, you're also influenced by people you may never even have met in person. You're being influenced by just listening to Podcasts like this one.
Hopefully, I'm a positive influence for the better. You're also influenced when you read a book; watch a movie; by the TV shows you watch and the music that you listen to. So not just those with whom you associate directly and the people in your life, but all the information and media that you allow to enter your eyes, ears, and take hold in your mind - if you want it to or not. So limit your negative influences to the greatest degree possible. And a negative influence when it comes to obtaining wealth is ANYTHING that gives you a negative thought towards money, wealth, being rich or those who are.
Because how much more of a blessing do you think you'll be to those deserving people in your life now (or those who are yet to come into your sphere influence) - if you were the same great person you are now, but also RICH!?
Becoming rich won't make you a jerk, unless you're already a jerk now - in which case you'll become a bigger jerk. You won't suddenly become an asshole, unless you're that now. Being rich won't make you something that you're not already. What it will do is bring to the forefront your true character - in larger form.
That's why the quote I read earlier ends the way it does... "Watch your thoughts. They become words. Watch your words. They become deeds. Watch your deeds. They become habits. Watch your habits. They become character. And character is everything."
If you're a decent and good person now, becoming rich will make you a great person - because now you'll have the means to be a blessing to others. You'll also be an example and a guide to those you know and love as to how they can do the same - and you can bring them along for the ride.
So get started on the journey by continuing what you're doing here - and get started on reading some books that will set these principles in your mind - and make those negative thoughts and sayings a thing of the past. Something you'll laugh about and feel sorry for the next person you hear saying those things.
To do so, checkout the Books page at: andlandlord.com/books - for titles like: "Secrets of the Millionaire Mind"; "Think & Grow Rich"; the "Richest Man In Babylon". There's another that I'm reading now and will get added to the page soon called "Wealth Can't Wait".
I've spoken of these books many times in other episodes of the Podcast, so if you've not already, get a subscription to Audible.com - and start listening to these books. Listen on your way to and from work. Get some Bluetooth earbuds and listen to these anywhere you find yourself waiting for anything. And as you listen to each, send me an email at firstname.lastname@example.org or email@example.com (they both go to the same place) - and let me know what you took away from the book.
Reading these books, and "Rich Dad Poor Dad" literally changed my life, as they put clear and concise words to thoughts that I already had - but honestly felt confused and even guilty about expressing. Telling certain people how I wanted to be rich made me feel like I was doing something wrong. Like I was wrong for wanting this supposedly evil think called money and wealth. Freed from this doubt, negative money thoughts and guilt - suddenly money started to flow my way. Because my new thoughts on money changed my words, which changed my deeds and actions to those which attract money, which became my habit. Now its just who I am (my Character) to attract money and opportunity.
Something great is going to happen for me tomorrow. If not tomorrow, then next week. Certainly next month. This is why I know that my 2020 is going to be amazing. Because I'm going to MAKE IT amazing by doing the things as needed NOW to make that happen. So let me get off my butt and get ready to go knock on some doors, and make some phone calls, and send some direct mail pieces - because there's money out there that doesn't YET know how to find me!
How likely are you to acquire a lot of something that you don't like, don't value or consider to be bad or even evil? Even if you claim to want it and lots of it - would you really!? Why would you - if you feel that way about it? Can you even, if you think and speak negatively about it on a regular (if not daily) basis? What I'm talking about is MONEY.
To compare, name for me one thing that you have near constant negative thoughts about (when other people have it); speak negatively about every time the topic comes up (unless its yours); feel that its bad or even evil to have a lot of it; think that those who have it in large amounts are bad or evil and will be punished for having it - yet somehow you want as much of it as you can get!? Really, what would that be?
Money is the only thing that I'm aware of that people claim to want lots of - yet, put great effort into disparaging it and those who have it. So while I can't guarantee much, I can absolutely guarantee that you either won't have much money or won't keep it for long (even if you were to win the lottery) - if you don't change your view of money.
So this episode of the [... and Landlord!] Podcast is asking the question, "How Do You View Money?" - Because that's where it all starts. How you view (or think about) money, will determine how you treat it. Because things you treat badly won't stay around for long, if they come around at all.
In this episode, I relate some of my challenges with my own view of money - my thoughts and the books I read that lead to me changing that view. And best of all, how money started to flow my way along with opportunities for more - once money became something I desired and valued for what it was... A tool that makes me a better version of who I already am, as well as, a greater blessing to those I know and love.