EPISODE 010: Will I Make Any Money? Getting Real about Numbers, Self-Sabotage and Our Brain's Primary Function
Categories: Strategy & Tips, Mindset
Description & Show Notes: In this episode, we go through the numbers of a typical investment property in Auburn, a single family house similar to what our clients often buy. We look at rent, common expenses, and give you an easy and quick way to do "back of the napkin" math while we are out looking at houses. We;'' see how that one house can help us in the 3 main ways that you can make money from Real Estate:
Positive Cash Flow in your Pocket
Increase in Property Value
Paying Off Loans with Someone Else's Money
In the Tips and Takeaways section, we go down a different path with a quote / challenge: - Be someone no one thought you could be… even yourself. We are often quick to accept labels related to our families, our careers, and those that others put on us. But we are slow to expand our identity to include new things we want in our lives. Our brain's are wired to help us SURVIVE, and expanding our comfort zone feels directly opposed to that survival. So we need to make a conscious effort to do what investors do, and take the steps to make that new thing part of our reality. Instead of "fake it til you make it", why not try "do the work and you'll get better at it"?
I also talk about how my similarities to the Anal Retentive Chef from Saturday Night Live has held back my business for 20 years, and how I am putting that behind me by creating systems that work for me and finally eliminating roadblocks.