Expected Air Date: 06/9/18
Your Personal Retreat
Everyone needs from time to time an opportunity to rest, relax, recover, and re-focus. I think you should take at least one day off per week for a miniature version of this and perhaps once a quarter, get away for a few days for renewal. Sometimes we need a purposeless vacation.
There is a time and a place for this and we all need it. We all really do. It’s good from time to time to have fun for fun’s sake. But that’s a topic for a different show. Sometimes we need a purposeful stop in activities to think about what we are doing, why, how, and get some different perspective on it. Call it a retreat if you will. Can you stay home from the office for a day or two and accomplish this?
It’s possible, but there are a few reasons why this is not ideal:
- There are distractions at home. Your toys are all there! TV, Hobbies, etc.
- There are expectations at home. Chores, meal prep, normal life.
- There are patterns of behavior at home. Breaking a pattern is an intentional act and isn’t easily accomplished. If you are in a good pattern with productive habits, you wouldn’t want to break them anyway.
- Everything looks the same at home. You are still “in” the fishbowl.
I think you should get away from home at least 50 miles for a couple of days once a quarter with no plans to do touristy stuff. Here in Atlanta we are blessed to have the foothills of the Appalachian Mountains just an hour or two away. It’s easy to rent a secluded cabin for a weekend. It’s also just four to five hours drive from the beach, but I find the beach comes with a few more challenges.
It’s easier for me to sit and think in a cabin in the middle of nowhere than at a beach with thousands of my newest friends hanging around. It will surprise you but if you will just get 50 or 100 miles away and then mentally turn and look back at your life and situation “back home” you’ll begin to gain a little perspective. Want more perspective? Spend some time while you are away thinking about the vastness of space or the infinite smallness of sub-atomic particles, or what life will be like 100 years from now and how will you be remembered? (Here’s a hint: it’s pretty unlikely that you will be remembered 100 years from now outside of your immediate descendants. Most of what we do with our day to day tasks don’t really matter that far out, unless we are operating from a 100 year business plan.)
However you accomplish it, try to think about bigger pictures, bigger ideas, different viewpoints. Do this the entire first day you are away without giving conscious thought to your business or life at home. On day two, you will no doubt wake up with a different perspective.
Occasionally those breaks can serve both purposes, but this should not be done without thought, planning, and communication with others who may be with you during the break time. Don’t go on vacation planning to read business books, re-focus your goals, or re-organize your company without speaking with your spouse about this. Your partner may believe you are getting away just for fun and relaxation.
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Motivational Thoughts for the day
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[0:27] It’s time for flipping America the show that teaches you how to make money in real estate wherever you are whatever your situation there is an opportunity for you.
Flipping America is brought to you today by Braswell Capital Solutions commercial lending made easy on the web at Braswell Capital solutions.com.
And now here’s that flipping America guy Rodger Blankenship how’s it going out there are you staying cool.
It’s summer vacation time and you know you wouldn’t think that people need instructions on how to take a vacation but
today I’m going to talk a little bit about your personal Retreat I’m going to talk about how to recharge your batteries because we don’t automatically know how to do this now is this is especially true for people who tend to be really driven entrepreneurial types
we don’t really need instructions on how to party we don’t really need instructions on how to do nothing but if you’re a driven motivated on for newer
you might need a little bit of guidance from someone who has put some intentional thought into
recharging your batteries everyone needs from time to time and opportunity to rest relax.
Recover and refocus.
As we get headed into vacation season I want you to understand that there is a difference between a vacation and a personal retreat.
[1:55] With a designed recharge your batteries now I think that everyone should take at least one day off per week.
And involve a little bit of time in a miniature version of what I’m going to talk about today but perhaps once a quarter I want you to get away for a few days by yourself
for personal renewal this is not a time to be entertained it’s not a time to be a tourist.
It’s possible that you could go somewhere where there is something that you want to look at for a part of one day but.
You’re not going with a heavy agenda of things to do other than personal renewal and I’m going to talk to you about that a little bit more in the moment sometimes we need purposeless vacations
and there’s a time for place
for that and we all need it we really do it’s good from time to time just to have fun for funds sake because as dr. Seuss said in
I’m the book One Fish Two Fish Red Fish Blue Fish Blue Fish these things are fun and fun is good there’s nothing wrong with having a little fun.
Okay but sometimes we need a purpose. In our activities to think about what we are doing why.
And get some different perspective on it you can call it to retreat and that’s what I do call it can you stay at home from the office for a day or two and accomplish this.
It’s possible but there are a few reasons why this really isn’t ideal.
You have distractions at home your toys are all their the TV is there your TV watching habits are there your hobbies are there.
[3:32] Your chores are there and the things that you’ve always intended to do now that you have a day home maybe you wind up doing nose and you notice all that nothing that needs to be picked up.
That needs to be rearranged and that becomes a distraction number to there are expectations at home.
[3:52] You’ve got the regular things that you do like your chores you’ve also got your meal preparation and you got your normal life things and if you’re trying to take a little time away and stay at home.
Members of your family and your friends are not really going to understand what you doing there going to see that you’re home and they’re going to assume life as normal and so.
Those expectations are part of it and it requires a lot more communication then
probably you really want to put into it all right number 3 there are patterns of behavior at home
breaking a pattern is an intentional act and isn’t easily accomplished if you’re at a good
pattern with productive habits you don’t want to break them anyway if you always get up early and go to the gym and work out and come back and drink your protein shake and then get to the office you know as the sun is coming up
that’s a good habit and you don’t want to break that habit just because you’re trying to engage in a personal retreat but when you go on the personal Retreat your gym isn’t there
you may not take your protein shake mixer with you although my beautiful wife does
we take that little thing with his that ninja thing it goes with us everywhere we go and because she is absolutely committed like no one I’ve ever seen but some of those habits.
Dear you’re going to break them for a couple of days because you’re engaging in an intentional different pattern of behavior and.
[5:17] Therefore everything looks the same at home.
Inasmuch as you are in a fishbowl you’re still in the Fishbowl and I know this is a little hard to get your brain wrapped around if you’re just hearing this for the first time but honestly.
Getting 50 or a hundred miles away is going to make a big difference.
So I’m going to come back in a few minutes I’m going to talk to you a little bit about the things that you do on your personal Retreat and we got some good feedback from the way we did the show the other day so I’m going to get the monologue up front,
and then we’ll do some email and some news in a little while however I am going to
break into this with a little bit of announcements right now because I know that some of you have questions about real estate we appreciate the questions that we get we’ve got some good ones to deal with today if we have time and.
Oh we do answer every question that comes into the show we always have and we plan to always do that in the future we don’t answer all of them on the are some of them we answer in private
but we do answer every question that comes in so send your questions to questions at flipping America.
But, that’s questions are flipping American network.com and please go ahead and tell us give us a first name it may not come through on the email and tell us where you’re from because we like to announce that
as we read your question on the show.
[6:45] You can find us on social media on Facebook look up flipping America media you can find us on YouTube just look up a flipping America,
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[7:52] We will help you in the best way that we can that’s what this show is about we’re here to help you were here to give you the information and statistics and.
Procedures and how to things that you need to make good decisions about real estate we don’t encourage everyone to become house flippers.
It’s not for everyone but we do encourage everyone to consider real estate as a part of a balanced Investment Portfolio okay we’re going to be right back in.
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[10:25] The best kind of life is one that’s lived intentionally where you’re not just sitting there waiting for things to happen to you but you’re out there making things happen and if you’re going to make things happen and sometimes you’re going to have to make rest happen.
That’s right I get teased a little bit here in the office from the the Pete the team and it’s okay it’s all good natured teasing about some of our habits
we go to bed at 9 and get up at 4:30 and pretty much every day of the week some days will stay up late
till 9:30 and we might sleep until 5 now we get a little bit more rest on the weekends because that’s just the way our schedule works out.
This is what we like to do so basically everyone that
the works here in the flipping America office knows that I am available to deal with problems issues or concerns pretty much any time of the day but after 9 there’s no point.
[11:18] If you have an emergency there is a way that you can reach me but basically other than that don’t even bother because the phones are off and.
We’re either asleep or on our way now I don’t attach any kind of special morality or anything to that we’ve got other people on the team that.
Stay up late and they’re working on stuff late I usually wake wake up to a text or three-year,
410 from the other team members who stay up later and then come into the office later that’s fine I don’t really care we’re going to get our work done we just all have our natural rhythms and the reason I’m telling you this is I want you to work inside of your natural rhythm
I’m really excited about the fact that my kids are all grown and gone I don’t have to get up and take anybody to school I’m not making any breakfast I’m not making any lunches and it’s been that way for a few years now so we don’t set an alarm
we just get up when we get up but we go to bed because we need to and
we’re taking care of our bodies were taken care of our schedules and we’re being intentional about all of this this is what I would encourage you to do is just to be intentional about your life and your schedule and what you’re making happy.
[12:29] With your waking hours and then able to give it your best shot.
Now I want you to be intentional about getting your your rest in the sense of your day off each week but also wants a quarter.
I think you should get at least 50 miles away from home.
With no plans to do anything really exciting instead plans to do things that bring renewal into your life
no plans for touristy stuff now here in Atlanta we are blessed to have the foothills of the Appalachian Mountains just an hour or two away it’s easy to rent a secluded cabin for a weekend.
Now it’s also just for 5 hours from the beach but I find that the beach comes with a few more challenges it’s easier for me.
[13:17] To sit and think in a cabin in the middle of nowhere then at a beach with thousands of my newest friends hanging around it will surprise you.
But if you’ll get just 50 or a hundred miles away from your home and then mentally turn around and look back at your life and situation back home you’re going to begin to gain a little perspective.
[13:39] Temper spective is a big part of what we’re after here because when were in the middle of things when we’re in the Fishbowl
everything is important everything is dramatic everything is urgent everything everything everything coming at you all day long and it has a way of just,
overwhelming your life and we end up so often working on things that are urgent but they’re not really that important you know the the old thing about how you divide your.
Your life in the tasks in the things that you’re working on into the different quadrants you have things that are important and you have things that are not important and in the in either one of the important or not important you have things that are Urgent and things that are
not urgent and you’re definitely going to work on the urgent things it’s just human nature.
And sometimes you working on urgent things that are important but a lot of times we work on urgent things that are not important and put those over important things that are not particularly urgent.
[14:41] Think about that I know that there was all those words at you right there really quickly but what do you want to work on is
do what you want to choose to work on is the important but not urgent what we end up working on in the Fishbowl is the urgent.
So we’re taking time to get away and think about how we’re conducting Our Lives.
How we’re running our businesses and how we’re thinking about things and how important is all that anyway and is this really on track with what I want to be doing with my business and is my business
really still on track with what I want to be doing with my life and so we’re engaging in a little bit not
not self-doubt but we’re engaging in healthy speculation and thinking about the bigger picture.
Now I find this little exercise to be particularly perspective enhancing for me.
[15:39] I go outside and yes when I’m away and out of the city I spend some time lying on my back outside looking at the stars.
[15:50] And I know a little thing a few things about science and then the distances that are out there and the amount of time is going by for the light from that
particular star to get to us and all the things that could have possibly happened in the vastness of space
this is something that adds perspective to my life I think about the vastness of space is one reason I love to watch science fiction that has to do with space travel
if you could think about the vastness of space or you can think about the infinite smallness of some type of particles or you can think about what life will be like on earth a hundred years from now and how,
he will be remembered if at all and here’s a hint,
it’s pretty unlikely you and I are going to be remembered a hundred years from now outside of our immediate family in descendants most of what we do with our day-to-day tasks
now don’t really matter that far out
unless we’re operating from 100 Year business plan and there are some people around the world that do that but most of us are not doing that so however you accomplish it try to think about bigger pictures bigger ideas and different viewpoints.
Do this the entire first day you are away that don’t catch travel day you travel to where you’re going and you get there unless you can get there by mid-morning at the latest then give the rest of that day.
[17:12] Too just thinking about just thinking about it your perspective you know keep a little notebook behind jot down ideas.
I kind of let my brain Run free but if I find myself gravitating to those inevitable to do list
but those off and sometimes the best way I can put those off his to write them down I keep them usually in Evernote I’ve tried a bunch of different to do list software and we’re actually working on something else right now
but I put them in Evernote and then I just try to mentally push them away because I’m there to think about something else I’m trying to get perspective.
Okay now at the beginning of day 2.
I usually wake up with a little bit different perspective on things back at home this is good.
[18:02] Tell occasionally these brakes can serve a couple of both purposes they can be intentional Retreat and renewal and they could be a little bit of family time as well.
Please don’t ever do this without having a lot of thought planning a communication with any others who may be with you during this break time
don’t go on a vacation planning to read business books reform refocus your goals or reorganize your company without talking to your spouse or significant other about this your partner May believe you’re just getting away for fun and relaxation
now it’s worked out
how are the number of times with my lovely wife that she just wants to rest and relax and do nothing and take naps during the day and that’s a good recharge and that gives me a perfect opportunity,
to read an entire Business book that is supposed to be very helpful for my business and allow me to,
create some action steps around that that’s a part of what I do on day two and we’re going to get two more of day to right after this break.
[19:18] Open houses I want to show you how to flip houses and there’s probably no one in the country better qualified than me to show you I’ve looked hundreds and hundreds of them.
And I also have some training and degree and experience and education so I could show you how to do exactly what I’ve done hundreds of times don’t believe me.
Head on over to put starter event.com but in the meantime Give a listen to Pat caywood my name is Pat caywood.
[19:44] Cleveland Tennessee and I’ve been.
Doing some flipping since about March of this year and had started with a Nationals program that was very expensive I spent today with Rodger Blankenship.
Learning about his program and boy do I wish I’d met Rodger.
[20:06] He has a clear concise program and many tools that are going to be very hot.
[20:12] And starting and managing a program and the mentorship and Leadership and coaching that he saw frame are invaluable.
Thank you so much Rodger for your time.
[21:17] Okay so we’re on our personal Retreat & day one we just spend some time thinking we tried not to be too intentional or deliberate about where our thoughts were going but we just trying to get a perspective on her life and
kind of evaluating and thinking about things now we’re at the start of day 2 and generally speaking day 2,
is the morning is intense thinking activity were actually that’s what that’s
which route for me the way I want you to do this and suggest you do this is you need to know yourself before you go when does your brain
operate at Peak efficiency and that’s different for everyone.
That part of the day I want you to set aside for this activity I’m about to describe I don’t care if it’s from 10 to 1 or if it’s from 1 a.m. until.
3 a.m. if that’s when your brain is really on fire and you’re at your best then
that’s when I want you to do this okay for me it’s usually around 6:30 to 9:30 or 10.
That’s my Peak efficiency time that’s why I try to get into the office during that time and let you know also I don’t have a lot of interruptions during that either so.
[22:24] I am now I’m engaged in the intentional activity and what I what I do to prepare for this is I am always
scanning business books and getting new ideas and I keep a list of books that I want to read things that other people said her influential and before I go on this Retreat I will look
one of those resources that I want to work with and work through and so that’s what I do in the morning now my friends.
Sometimes are amazed at how quickly I read a book but honestly is no special skill I suggest that you find a copy of a book called how to read a book
by Mortimer Adler it’s no longer in print but it’s one of the best books ever because it tells you how to read a book now I don’t do this when I read novels but when I read business books and nonfiction I use his
message to the TV basically it’s an advanced form of skim reading you don’t read every word in the book but you do read the important ones and how do you know what the important ones are well it’s definitely the first
the sense of every paragraph.
And usually if when there are olestra to stories I read those because we tend to remember the stories and then helps us to remember the points that they’re illustrating and then when you get into how to sand specific size slow down and read that.
Very carefully there’s a lot of other information in the books.
[23:46] Even if you read every word you wouldn’t remember but what I want to do as I want to know the outline of the book I want to know how the author put their thoughts together how they build their arguments one two three and I want that summary and I commit that summary to memory,
and so for a while after I read one of these books I can tell you.
Everything the book was about I can’t maybe say all of the words that were in the book but I can tell you what the book was about if it was any good and if it isn’t any good if it’s not working for me then I
put it away and sometimes I’ll take a backup book if I have some doubt but what I’m doing is I’m working through
something now it’s not always a book sometimes it’s a procedure or a problem that I’ve been trying to solve and I just haven’t had enough time or,
I’ll maybe it’s a Adam a thing or a spreadsheet thing that I have want to work on our programming thing because I’m not that great of a programmer and sometimes to take put my ideas into an Excel spreadsheet
takes a little bit of extra time but whatever it is I’m going to focus on that in the morning and then.
[24:50] In the middle of the day I take some time to just go have a little bit of R&R type of stuff I’ll go find a place for lunch
and he hung out the comedian Jim Gaffigan said really all vacations are is just we spend a lot of money to travel to a different place where we look at some stuff that we don’t have at home and we eat some food that we don’t have a home that’s really all we do.
And so in that since this is a little bit of vacation go try a new restaurant and I you just it’s a personal thing with me but I.
If there’s something available anything available that is not a chain.
If I can get a taste of the local flavor that’s where I’ll go and have lunch on day number two and just enjoy and and hang out there while and if there is some little weird thing I mean you know if it’s the world’s largest ball of yarn or if it’s somebody that you know
created a collection of odd and different things or if it’s the Doc Holliday Museum in Griffin yes there actually is one in Griffin Georgia aren’t you know a lot of towns have some little claim to fame and it may be something weird and offbeat.
[25:54] I’ll go take a look just for an hour or two because what I’m doing is I’m intentionally
give me my brain a break in a different direction maybe I haven’t solved that problem yet that I came up there to solve but I’m intentionally going in a different direction you see what we’re doing we’re working we’re really working at the problem but we’re it were.
You’re stabbing at it then backing off and then we’ll come back to it again little bit later on usually by mid-afternoon I want to be back to where I was and I want to finish the book and then the evening is quiet and.
I’ll I’ll just think about it. Maybe I’ll write down some notes and so forth.
Then the next thing that happens is the next day is going to be check out day so usually we have to be gone by 11 or noon so I get up with a little bit more time to thought maybe Journal maybe work on it a little bit but I’m not
I’m not too worried about the cam positioning any kind of particular goal this is not a strong goal-oriented thing and then I travel home
and that’s your 2-day retreat
now I’m going to put this into a larger context when we get back from this next break and I’m going to talk to you about how to work this with your your goals your milestones in your daily steps will fit it All In This Moment.
[27:19] Are you one of the 70% of Americans living paycheck to paycheck and tired of the stress if so I understand that used to be in that 70.
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Since then I’ve built a business that generates over $500,000 a month in income and allows me the freedom to do what I want I’m Brad Chandler and I tease people just like.
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[29:24] Imma back I’m Rodger Blankenship I teach people how to make money in real estate and today I’m not I haven’t been talking about real estate so much I’ve been talking about really personal growth and renewal and this
can be for every person and especially for every business owner and yes that includes you real estate owners
and the river you are whatever Walk of Life you’re in whether you’re even investing in real estate or not I hope that you will take some time for personal.
[29:52] Battery recharge we all need this not been doing this now really since 1999 so at this at the time of this
radio show we’re going on 19 years that I’ve been engaging and systematic periodic retreat
now over that time. There have been some times where money was just too tight for me to really comfortably go out and go somewhere.
That’s okay and those early days if you do have to stay at home that’s fine I would say if you’re staying at home or going to doing like a little to stay home retreat maybe at least get out of the house.
Or Dept of wherever you live in and get to some neutral site where you can engage in this pattern of systematic thought okay.
I may be Starbucks but if you typically go and sit at Starbucks and and do your thing then don’t go there go somewhere different even if it’s not far away but.
[30:49] Within reason the further you can go the more the better it’s going to be for your ability to get perspective on your life back in the Fishbowl,
all right now we I’m giving you kind of an outline of what we’re going to do on this two-day Retreat you know day one Focus,
and I’m sorry day one is.
I’m brought thinking about your life and getting perspective day to the morning is focus and the midday is.
Intentional relaxation go have you know lunch somewhere different and the afternoon is coming back and refocusing.
[31:24] Day 3 you get a little bit of focus time in the morning and then you travel home.
Now what I do on day 3 in the focus time in the morning is I engage in my renewal and recommitment to my goals.
My milestones and the steps that I need to take them.
[31:43] This is all I’ve done a show on goals milestones in steps and you can go back and listen to that but 2 review.
I believe that in every major area of Our Lives we need to establish goals
then you don’t have to do this at the end of the year going into the new year but believe it or not in 6 months or so I will probably do another show on goals milestones in steps in the reason I do is because the end of the year is when everyone tends to want to look for a new beginning
and you know maybe they’re not really happy with what happened this past year and so let’s start over in with a fresh new year will have a fresh new start and
we see a big spike in attendance at the gym for the first couple of weeks of every year and then it kind of Fades out
and part of it is because people were never really committed anyway but that’s a talk for a different day.
In terms of our goals and Milestones and steps this is what we do to stay on track
because sending the goals at the beginning of the year is no guarantee that we’re going to meet them in fact if you don’t engage in this type of thing at you almost guaranteed not to meet them when you make a goal.
[32:55] You try to break that goal down into steps are an into major milestones and we look for a milestone to be accomplished each quarter it’s just one.
Thing that is a major thing that moves us toward the goal.
It can be in the area around your physical exercise and training it can be in the area of your mental develop
then I didn’t put that down in terms of goals of the number of books that I read in that sort of thing it can be in the area of business can be in the area of your personal finance in your position where you want to be at a certain time
it can be an all these areas and it doesn’t matter.
You can even be in you know developing your spiritual nature as well there’s certainly nothing wrong with that it’s okay to have goals and even your spiritual area so.
[33:43] You sent these goals for yourself and then you said some milestones and the Milestones are these major.
Points and the milestones in order to achieve a milestone do you’re probably have to take several steps and it may take a hundred steps to get there that’s okay you have a little over a hundred days and you know you want to have
your 90 days or so in a quarter close to a hundred and so if he if you have to take 60 steps to get to a milestone then that’s fine
you mark out the steps and then you begin to take them and the beginning of each week I recommend.
And intentional time sometime before the beginning of the work week is you if you listen to the show regularly you know that I try to take that time on Sunday evening I am not
particularly religious about it if I don’t get it to Sunday evening I’ll do it Sunday afternoon or I’ll do it Monday morning but do you definitely want to have this thought time before you really kick off in your work week during this,
what time you’re planning out your schedule you reviewing all of your appointments and
you’re looking at the steps you need to take in each of these areas of your life to get you to the milestones in my case it’s multiple businesses that have multiple action points as well as the personal things so I’m thinking a lot of things into the schedule.
[34:56] And that’s exactly what we’re doing we’re fitting things into the schedule when you see gaps in your schedule if you got like a morning that’s not scheduled you’ve got a project that you’re working on.
And it may not be urgent yet it may be off in the future but in order to keep you from having urgent Oregon stay up all night burn the midnight oil at some point in the future you got to take some steps to get it done
what I say then is put it on your calendar if your goal is to spend a certain amount of time reading.
Business books are to read a certain number of books and you know how long it takes maybe if you want to read 15 pages a day you know if you don’t schedule a time to do that there’s a decent chance you’re not going to get around to the 15 pages.
Because you haven’t planned to why is that because urgent things come up.
[35:50] Or things that seem a little more urgent than that and really if it’s a personal development goal.
Almost anything seems more urgent am I right or am I just lucky.
No I’m right you know I’m right it happens to all of us it happens to me too and I didn’t really consistently,
start really hitting my goals until I
adopted this process so I’ve got all of these steps I’ve written these steps down these are steps that are going to get me to the milestones and look I like
writing it down on on paper
now that I have to have a shared calendar though it’s it’s not really working out to keep my paper calendar because my assistant needs to know what I schedule myself for so whatever calendaring system you use you just got to go in there and you have to block out the time that you’re spending on your things.
[36:39] And sometimes it’s things that you’re doing for your own personal benefit that listen if you are working for someone else if you are not working on your personal things on their time got it.
That’s not integrity that’s not honor,
I’m sure they they own that time they have rented that time in your life and they’re paying for it by paying you your salary or if you’re paying it if they’re paying you an hourly wage that it would be even a worse offense to use that time to work on your own things
own my own business and have for many years and have always been in charge of my own schedule and so therefore it’s not that I come and go as I please it’s come and go as I need
and do the things that I need and I determine the things that I need and the things that I want to accomplish and I schedule out the time to do them.
[37:28] And the people that are sitting outside in the other parts of the office here and what are they going to say well.
They’re not going to say much because they know they’re here basically at my pleasure and they’re here to take care of me know their responsibilities but they’re definitely not here to supervise how I spend my time is how I spend my time.
Working on the things that I have designated as important if you have.
At the website and noticed that we have an opportunity to schedule a strategy called and you’ve ever looked you clicked on that button then you’ve gone to my scheduler you see that there are some openings but there aren’t,
you know it’s not open from 9 to 5 every day and some days are never open.
I just block them off and I because I’m planning my schedule and I would love to talk to as many people as wants to talk to me but it’s already gotten to the point where I can’t field every strategy call myself and I have someone
on the team that is very well trained and.
And picks up the slack and handles the strategy calls because that’s what we have to do because we all have 24 hours and.
No one has any more time than anyone else and so this is how I want you to go about scheduling your life by scheduling in those things that are.
Really important but not necessarily urgent.
[38:54] When you’re on your retreat in the morning before you leave before you know you’re mostly packed I guess.
And your ear kind of ready to leave but you still have a couple of hours I hope that is working this way for you but I want you to do is to go back and look at your quarterly milestones.
How far have you gotten toward them how much time do you have left before this quarter is over and you’re supposed to have those Milestones accomplished basically how are you doing.
[39:23] Now look I believe in giving yourself the benefit of the doubt and give yourself some Grace but I also believe that sometimes we let ourselves off the hook
we set a goal and we realize how I am and I’m not going to reach that goal and if we’re really honest it’s because we actually didn’t take the steps to get there.
[39:44] If you’re not on your way to reaching your goal.
I want you to ask yourself why and since you’re the only one that’s going to hear your answer be completely honest.
If you haven’t given it your best effort then don’t change your goal change your effort level.
[40:03] It is fair to evaluate whether that goal was ever really important to you because it’s possible that.
As you’ve gone through even a few months maybe that one thing that you thought was so important maybe it’s not so important anymore but if it’s a go for your business or your personal finance life and you just haven’t done the things that you really needed to do to make it happen.
I would encourage you to not change the the goal or the Milestone even but change your effort level.
Make up some time double up on some steps
the look you can’t necessarily make up for lost time when some of the stuff just takes time when you’re cultivating a relationship with a potential investor
you can’t speed that up you have to do it in the proper increments and it has to be over. Of time there’s no way you can really speed that up and so if you’ve delayed on that.
Then your little bit behind the 8-ball in.
Yeah you might have to adjust your expectations for the quarter so use your common sense here you know whether or not you giving it your best shot you know what you’re doing you know what you’re not doing you know how much effort you’ve been giving in but you haven’t here’s one.
Excuse I never accept it for myself or for anyone that reports to me I didn’t have time.
[41:21] Don’t ever say that to me.
And don’t ever say it to anyone that you work for and please don’t ever even say it to yourself because you’re kidding yourself.
[41:33] The fact is we all have enough time to do the things we really want to.
[41:42] I’m going to say that one more time we all have enough time to do the things we really want to.
[41:52] If you didn’t have enough time if you ran out of time it’s only because you prioritize something else and you made something else more important than this.
That’s the fact of the matter you didn’t run out of time he had the same amount that anyone else does.
[42:13] So either it became less important or it was never that important but a.
If someone else tell is someone comes to me and particularly in a situation where they don’t really work for me but they were just need to get supposed to get some information over and so forth and they say I just didn’t have time
well it’s okay you know what it really means is they took their time to do something that they considered more important no more urgent at that time
I don’t necessarily get upset about that this no it’s not worth the emotional energy but I do take it into consideration the next time that person makes a commitment to me.
You know I kind of keep that in mind because we’re always trying to evaluate with how far we can trust someone I’m not even trust talking about trusting someone Integrity I’m talking about trusting their.
Realistic sense of themselves you know.
Whether I can count on them to do this thing that they said they were going to do baby they really intended to and they just didn’t because they committed to two things honey I’ve been guilty of that myself.
We all have so I don’t get angry I don’t get upset I just kind of you know mentally file it away.
[43:23] And know what to expect the next time we’re in similar situation okay I hope this helps and what we’re trying to do here is be more productive during the days that we are actually there.
At work doing stuff and I truly believe that we’re going to be most effective.
When we take the time to get the proper rest and the proper time for refocusing retooling recharging and renewing.
[43:52] All right when we get back from this break we’re going to do a little bit of real estate stuff great I’ll be right back.
Not too long ago we did a one-day flip starter in Chattanooga Tennessee and low and behold one of my old College friends came out to the event his name is Peter Faulkner and here’s what he had to say about the event.
[44:18] Falkner here I tended a one-day flip starter training session led by Rod.
[44:24] And I was amazed to see what has happened in Rogers Live from the last.
[44:29] Flipping over 800 houses in Mendes one day training he told how he did it and what.
Falls the blessings the benefits and how to do it.
[44:44] Impressed with how well organized and how smooth the training Wednesday you’re tempted or in courage to go.
Not a bad price and if you get a chance.
[45:22] Hey just a reminder to get those questions to ask questions at flipping American network.com that’s questions of living American network.com we answer them all and will answer yours maybe we’ll answer yours on the air okay.
Let’s take a minute and do the news.
[45:43] I got this headline 5 or early signs a real estate market is going sour
well I had to click on that by the way I got this headline right from the front page of the flipping America Network website did you know that we have two RSS feeds right there on the main page all you have to do is go to flipping American network.com and.
With one of those news feeds you’ll be able to stay on top of the real estate market like I do now we do some other things too but I just wanted to point that out till she was.
Hi this is from Mansion Global and they talked about five signs a real estate market is going sour.
Here’s an example of somebody who wants to get something in print but doesn’t really have a whole lot to say.
One of these is a point in the rest of them I’m not so sure about well okay two of them I’ll give
a point and then the other three are just kind of watch for this so that I’ll give them to you number one increasing inventory.
Yes I did inventory is first sign of a less than positive change said Nella Richardson Chief Economist at Redfin a less than positive change why not just say a negative change.
[46:48] When the market starts to cool I think the first thing you see is more homes on the market to explain and they sit for longer that’s something in the market is Cooling and it
if you listen back if your long time listener to the show and you go back to sometime around a year ago
the flipping America guy your humble host was predicting that between 12 and 18 months from then the market was going to start to level off and I should have predicted this at the time and I did but I knew that was this what happened as soon as the market start school off the doomsayers will come out
the reason is people need to see their name in print and so it’s it’s always safe to be a doomsayer because somebody is almost always willing to print it.
And look I don’t want to present it unrealistic Lee optimistic picture of where we’re going in the real estate market but the fact is
prices have been going up at an unsustainable level and.
[47:41] I’ve been also monitoring our team monitors the statistics for default and foreclosures and we’re using that as a way of projecting that we are not going to see a crash in fact the default rate
it it had a blip with the Hurricanes of last year but the Foreclosure rate has remained steady at the lowest rate in
recent history the lowest rate in our lifetime and for those of us that are actually active at the courthouse steps buying foreclosures we kind of know how many foreclosures there are Monday we don’t.
Know an exact number but we know it it is there are far fewer foreclosures now than there were just a couple of years ago
so the out foreclosures are a pretty much an all-time low and for that reason I don’t think that we are
in any imminent danger of a market collapse however we are due for a market correction because prices have gotten too high.
There’s not enough inventory
Enzo the prices gotten too high and so people have given up in her and moved out of the marking they’re just staying where they are which means that the properties that are for sale or starting to sit there a little bit longer we’re especially seeing this on the high end
so what that means is increasing inventory this is not a cause-and-effect thing it’s actually kind of difficult to quantify and it’s almost like.
[49:04] Yogi Berra saying nobody goes to that restaurant anymore it’s too crowded,
some of it self-contradictory yeah we have increasing inventory because we have a shortage of inventory.
[49:17] There you go second thing.
[49:23] Prices start to Tumble why do prices start to Tumble because we have increasing inventory
as it happens the second sign of a market slipping is when sellers start lowering asking prices according to mrs. Richardson am is Richardson when you start C price drops especially meaningful ones like 10% you know a market is going south.
Alright I’ll just yesterday
we at our team with the out of the by your house Network we were able to actually negotiate a discount on the price that we were buying from a wholesaler and it’s been a while since we’ve actually received a discount now
earlier this year we did get one that we had passed on earlier because the price was just too high I mean it wouldn’t it wouldn’t work in that market and they wholesaler was unable to sell it to anyone else so they came back to us
but in this case they had the other people looking at the property we offered a low number that we just felt really comfortable with and they accepted it so.
Yep we’re starting to see a little bit of a change here because of the inventory and because of the speed in the market basically is headed toward a balance Market.
I don’t think that we’re heading toward what’s the what’s the word in the article a sour Market I don’t think it’s going to be sour it’s not sour to me balance what this means is there will be more opportunity for you on the buying side.
[50:45] In the next 6 months probably I’d say by January or February of 1980 going to be a little easier for Real Estate Investors to find a deal.
On the flip side of that coin it’s going to take you a little longer to sell them that’s alright as long as you’re prepared you know how to
I watch the market and you know how to calculate your your days on money and the cost I mean the days on market and the cost of your money you’re going to be fine,
okay the next point in the article is keep an eye on currency now this is supposed to be five signs.
I really Market is going sour this is where it starts to not make as much sense this is not a sign of anything it’s an instruction.
[51:27] Keep an eye on currency for the luxury Market Mr Bailey said the currency markets are key because they attract so much International attention many of nights
Knight Frank’s clients cover Mary’s where the currency is pegged to the US dollar and when the dollar weakens they’re buying power suddenly eroded in that will affect the market blah blah blah blah blah.
This doesn’t really have any impact on you.
Unless you are an international person having to listen to flipping America and thinking about investing in America but for the most part.
[51:59] As the transactions become a little bit more expensive to foreign buyers it slows the sales that’s okay.
I don’t know anyone who routinely sells their homes to foreign buyers except for,
some of my friends who have foreign investor money but even then those groups met on the house,
they don’t typically intend to keep them long term government policy changes of policy changes nothing to keep in mind when considering real estate Investments.
When governments propose or Institute new taxes or raise interest rates that can cause Market jitters
in the US the new tax bill has been weighing heavily on consumers but it’s too soon to tell how the new caps to mortgage and salt deductions will play out
alright well if it’s too soon to tell why are you including this as a point of an indicator that the market is going sour this is where I just
I have to poke a little fun at the people who are publishing these articles this is not an indication of anything at all it’s an IT instruction on what to watch for,
it’s a good instruction
it’s fine it just doesn’t make any sense to say that there is a factor here that means that the market is going sour as a matter of fact.
[53:09] It has the tax law changes have already impacted high-end home sales but
it is increasing investment in other real estate sectors and probably bounces out is a little too soon to tell that.
Definitely the net effect this has not been negative so far.
All right and the last point is the overall economy and the stock market investors should keep an eye on the general economy again.
It’s not a point that the market is going sour it’s an instruction for what to watch now
I think it’s a good instruction as well because you need to kind of have an eye on the economy as a whole.
But listen to my friends if you know how to buy real estate investment real estate if you’re buying it under value to begin with then it doesn’t really matter what the economy is doing when the economy is rough and challenged you just buy it,
further under value but even in a strong Market in a strong economy you’re buying the property for less than it’s actually worth we want to buy the property for less than it’s worth today and then we’re going to add value
had something like a two-to-one return.
Let me break that down so you can understand if a property is worth a hundred thousand right now as it sits I’m not giving a hundred thousand for it I’ll give 70.
[54:29] And I want to be all in at 7 T I may get 40 or 50 or 60 or can you find property like that yes it’s not easy to find but no one said this business is easy it’s simple it’s just not easy.
Okay you got to work at it so I buy a property
undervalue and then I’m going to make him prove mints to the property at a two-to-one ratio is kind of what I expect in other words if I spend $50,000 on a property expect to increase the value of the property by 100000,
I’m going to fix everything that’s broken and do everything that I need to deliver a proper property but that 2 to 1 ratio especially applies for any optional expenditures
and even the even then it’s not necessarily hard and fast rule sometimes we do things to properties that just help themselves faster but we’re always looking for.
Increase return not a dollar for dollar return I don’t want to buy a property and then spend $30,000 on it and sell it for 30,000 more than I bought it for.
You’re not making money when you do that okay so.
I’ll link you to this article you can read it and you can join me in the critique what we really have here is too early signs a real estate market might be changing and three things to watch for.
[55:48] But on the other hand that’s not a an article title that would get anyone to click on it in fact
if that it in the article title we probably wouldn’t be discussing it now because I wouldn’t have clicked on it.
[56:01] I’ve got another article I clicked on because I like technology in this by my friend Linda Liberatore and this is from Forbes and she talks about using technology to
invest in real estate the time of the Articles use technology to play the real estate investment market and she talks about the various
a new investor tools one of them is crowdfunding Platforms in that is new since 2013 but I wouldn’t say this necessarily new if it’s new to you
and if you listen to the show it’s not new to you but it still is a new to a lot of people then she talks about electronic docket documentation and she talks about machine learning.
This is a few paragraphs that you probably ought to read just to stay on top of this and I’ll link you to it.
To our social media remember to follow us at flipping America on Twitter and Instagram I want to get one more story in before we run out of time today this is an interesting headline real estate industry infiltrated by double agents.
Warren industry cheese what is a double agent in.
The real estate industry that sounds spooky mysterious and maybe some what kind of like it should make have a movie made out of it what’s a double agent well and this.
Article a double agent is a person who is representing both the buyer and the seller in a property deal.
[57:23] All right there’s a long discussion out there about this topic that we probably need to have at some point
and maybe if I get one of our top realtors back on the show I’ll ask him or her about it but all I’m going to say is if I list a property for sale with an agent and that agent also brings the buyer I don’t have a problem.
I know that there is an argument that can be made that how can the agent be representing my best interest when they’re supposed to be representing that person’s best interest in this case they argument is a little bit moot
I’ve been doing this for a while I know how to look at it look out for my own interest in a real estate transaction in my agent knows it.
I also only hire agents that would never take advantage of a situation like that or take advantage of another person.
And if I saw them taking advantage of a person even my buyer for my house.
We’d have the conversation about it and I would be reluctant to use them again so yeah I understand the reasons for it but I also
when you have an agent with Integrity I don’t have any problem with it.
[58:28] Chose a nice headline but the article failed to win me over all right.
[58:49] Power motivational thought for the week is people often say that motivation doesn’t last well neither does bathing that’s why we recommended daily that’s from Zig Ziglar.
The motivational thought is brought to you by the foundation for Renewal working together with communities Nationwide to bring lasting impact and change find them on the web at renewal fund. Net.
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