Income Flip framework—Do less, make more 🫰
Hi Income Flippers,
Fall is here.
I'm sitting on the front porch of our little river house, taking in the sights and sounds of nature.
As I prepare for the week, I am reminded of two things:
Do more of what's working.
Do less of what's not.
Have you ever noticed how some people seem to accomplish way more than you do and seem to work half as hard?
Have you ever stopped to think why? Have you ever reversed-engineered what they are doing? I have three friends that instantly come to mind. Throughout the years, I have scratched my head at their financial success in relation to their level of effort.
Then one day I took the time to analyze what they were doing differently and here is what I found...
In 5 minutes or less, you will learn:
— Income Flip Framework—Do less, make more.
— What I am doing NOW.
— Start building your 2024 plan
I'm not going to lie, from the ages of 25-45 I worked really, really, really, really freakin' hard.
I started a recruiting business, started a family, navigated the dot com implosion, started a real estate business, and then immediately navigated the worst economic recession since the great depression.
That was the first decade.
The second decade was spent failing forward building real estate teams which I am still doing to this day. 🙂 I'm definitely a "put your head down and grind it out" kind of guy so it took me 20 years to look up and assess what I had accomplished.
When I finally did, I was disappointed.
As I compared my financial life (the very thing you are told not to do) to several of my friends, I was left scratching my head.
My friends that had the most definitely worked the least.
Don't get me wrong. They worked hard, but they didn't grind.
I realized that day that hard work was NOT the determining factor for financial success, although working hard will certainly help you get there. And as I reviewed my net worth spreadsheet, I realized that 98% of my net worth had been created in just 1 year.
When the market crashed in 2008, I purchased multiple houses at 50% on the dollar with one of those rich friends.
I can certainly make the argument that the prior 9 years prepared me for that 1 year, but it's scary to think that it all boiled down to 1 year.
I remember thinking "Holy ShI%$"! If I had not done that one thing our financial life would look pretty terrible.
Then the next thought that flashed through my head "Crap, I haven't purchased all that much since then because I was deep into growing real estate teams."
This was about 5 years ago at which point I realized I needed to pivot and start focusing once again on asset acquisitions.
I also realized that I wanted our team to start focusing more on the real estate investor niche because doing so put my team on the path of wealth creation which is what I want for them.
But I digress, let me get back to what I had noticed about my friends.
Each had chosen a financial vehicle and had gone "all in" on that hypothesis.
One had dollar cost averaged for 20-plus years religiously into the stock market.
The other had become a hard money lender and had gone "all in" on becoming the bank for real estate investors.
The other focused on buying commercial properties in growing areas.
When I assessed what they had done I realized that each found their investment vehicle and then focused 100% of their energy on maximizing that vehicle.
They didn't scatter their energy or resources. They focused on 1 vehicle and then kept stamping it out, month after month.
You may be asking...what about diversification?
They found ways to diversify their risk in their portfolio. Something they deeply understood and could control.
As I reflected on my career, I realized that I needed to focus my energy and resources on the thing that had created the majority of the wealth in my life and just do more of that.
For me, it's been buying single-family and multifamily properties. My business is built to find these types of opportunities.
Over the last five years, I have created a machine that drives these opportunities to us and we know exactly how to assess the risk, add value, and execute the plan.
Moral of the story: Find your 1 thing and go "all in."
Are you planning for 2024?
Now is the time to start doing that.
It will take you 2-3 months to start seeing the fruits of your labor so start building your 2024 plan in October so that you enter the year full throttle.
It all starts with creating a Freedom Vision.
Now go make your dreams come true!
Rob
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