An important message from Jack Miller:
Fear is Failure's Collabotator. Fear has robbed more people of success than
any other factor. Fear is what freezes a deer in the headlights. Fear is what
makes a person aim low to avoid failing instead of trying to get to the top.
Fear of rejection keeps people from making low or creative offers and aiming
for higher profits. Fear of the future is what motivated me to settle for a
mediocre career in the Air Force rather than becoming an entrepreneur at an
early age. To avoid going out on their own, fear drives people into college to
get a degree in a specialty that they never work in.
The irony of being controlled by fear is that its basis is almost always created in
the mind as we imagine the worst possible consequences of the decisions we
make rather than the best possible results. Fear comes in all shapes and sizes:
Fear of rejection. Fear of loss of a job or a promotion. Fear of failure. Fear of
disapproval. Fear of change. Fear of making a decision. Fear of government
harassment, lawsuits, or physical abuse. So, ultimately, while reasonable caution
is a good thing, irrational fear of the un-knowable, un-seeable future is not. It's
an emotional choice that people make who don't understand changing events,
aren't willing to find out more about them, and aren't willing to confront them head on.
The difference between taking blind chances and taking calculated risks is knowledge
and experience. When a professional takes a stroll across Niagara Falls on a tightrope,
what seems like a terrible risk to observers amounts to a walk in the park to him;
because he knows what he is doing, and has done it before. The same principle
applies to buying, financing, selling, fixing, and managing houses. Why do you
suppose so few brokers actually buy/sell/rent their own houses versus entrepreneurs?
I think it's because listing, selling, and managing houses for a fee incurs no risk of
money or credit; while investing and lease/Optioning does.
As a broker, I knew more about houses than my customers. I did all the work from
listing to settlement. Despite my expertise, I settled for a fraction of the profit that I was making for others simply because I didn't want to risk investing my own money. I readily gave up half of the profit I could have made. When I realized this, I made a big change: I began charging 50% of the profit, payable only when I sold the property. My income tripled overnight. Later, with very little money and no customers, I used short-term Options to control properties until I could sell them. As I gained experience, I began closing on some of my Options and keeping houses as rentals. Sometimes I Lease/Optioned properties . My income and equities grew by leaps and bounds. If I were starting over today, I'd do exactly the same thing. In today's market even greater profits are attainable.
When you're out of work and there's nothing to lose, taking a chance on yourself
isn't nearly as risky as quitting a good job to go out on your own; thus there's
very little to fear. Fortunately, I had gotten a Salesman's license a year or so before
losing my job, so nothing prevented me from going into real estate sales; but I had
to be practical. I set a Go/No-Go point for the next three months as to how much
money I had to earn listing and selling houses in order to continue to avoid a regular,
low-level job. Because I really didn't want to ever be fired again, I worked like a
fiend to meet my goal, and I was able to continue on in the house business. Once
I proved I could make a better living, I never looked back.
Getting a real estate license is not such a bad idea. It requires minimal study or
expense and can provide income if you lose your job. If you don't like real estate,
a Mortgage Broker's license is about as easy to get. If you do this while you're still
employed, you can shorten the time between losing your job and beginning to earn
money. You'll also enhance your employment opportunities because many States
require that businesses that provide real estate or financial services have at least one
broker on the payroll. It also eliminates restrictions on Master Leasing and flipping
Options on houses that some States impose on non-brokers.
Fear is Failure's Collabotator. Fear has robbed more people of success than
any other factor. Fear is what freezes a deer in the headlights. Fear is what
makes a person aim low to avoid failing instead of trying to get to the top.
Fear of rejection keeps people from making low or creative offers and aiming
for higher profits. Fear of the future is what motivated me to settle for a
mediocre career in the Air Force rather than becoming an entrepreneur at an
early age. To avoid going out on their own, fear drives people into college to
get a degree in a specialty that they never work in.
The irony of being controlled by fear is that its basis is almost always created in
the mind as we imagine the worst possible consequences of the decisions we
make rather than the best possible results. Fear comes in all shapes and sizes:
Fear of rejection. Fear of loss of a job or a promotion. Fear of failure. Fear of
disapproval. Fear of change. Fear of making a decision. Fear of government
harassment, lawsuits, or physical abuse. So, ultimately, while reasonable caution
is a good thing, irrational fear of the un-knowable, un-seeable future is not. It's
an emotional choice that people make who don't understand changing events,
aren't willing to find out more about them, and aren't willing to confront them head on.
The difference between taking blind chances and taking calculated risks is knowledge
and experience. When a professional takes a stroll across Niagara Falls on a tightrope,
what seems like a terrible risk to observers amounts to a walk in the park to him;
because he knows what he is doing, and has done it before. The same principle
applies to buying, financing, selling, fixing, and managing houses. Why do you
suppose so few brokers actually buy/sell/rent their own houses versus entrepreneurs?
I think it's because listing, selling, and managing houses for a fee incurs no risk of
money or credit; while investing and lease/Optioning does.
As a broker, I knew more about houses than my customers. I did all the work from
listing to settlement. Despite my expertise, I settled for a fraction of the profit that I was making for others simply because I didn't want to risk investing my own money. I readily gave up half of the profit I could have made. When I realized this, I made a big change: I began charging 50% of the profit, payable only when I sold the property. My income tripled overnight. Later, with very little money and no customers, I used short-term Options to control properties until I could sell them. As I gained experience, I began closing on some of my Options and keeping houses as rentals. Sometimes I Lease/Optioned properties . My income and equities grew by leaps and bounds. If I were starting over today, I'd do exactly the same thing. In today's market even greater profits are attainable.
When you're out of work and there's nothing to lose, taking a chance on yourself
isn't nearly as risky as quitting a good job to go out on your own; thus there's
very little to fear. Fortunately, I had gotten a Salesman's license a year or so before
losing my job, so nothing prevented me from going into real estate sales; but I had
to be practical. I set a Go/No-Go point for the next three months as to how much
money I had to earn listing and selling houses in order to continue to avoid a regular,
low-level job. Because I really didn't want to ever be fired again, I worked like a
fiend to meet my goal, and I was able to continue on in the house business. Once
I proved I could make a better living, I never looked back.
Getting a real estate license is not such a bad idea. It requires minimal study or
expense and can provide income if you lose your job. If you don't like real estate,
a Mortgage Broker's license is about as easy to get. If you do this while you're still
employed, you can shorten the time between losing your job and beginning to earn
money. You'll also enhance your employment opportunities because many States
require that businesses that provide real estate or financial services have at least one
broker on the payroll. It also eliminates restrictions on Master Leasing and flipping
Options on houses that some States impose on non-brokers.
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
. Xjeviwis vji uavduni, ov huvve duni tuni huuf uav ug ov. Egvis emm, xovj iwiszvjoph cef ov dunit ep iraem futi ug huuf xovj ov. Ov ot jux zua tii ov vjev nevvist. Apgusvapevimz nepz ug at tii vji cef tvagg cigusi xi siemoti xi nottif vji huuf tvagg emvuhivjis.
