Entering into a New Year it is common to set your intentions and goals for the new year. In your quest to create financial freedom or financial independence or even financial wealth you are best served by doing what others before you have done to reach their financial goals.
As you may be well aware the difference between average people and wealthy people is quite simply, “How you think” . Needless to say it is the action steps you take that does the heavy lifting but it is what you think first that prompts you to take those action steps.
Wealthy people literally manifest wealth
They manifest this wealth simply by the way they think. Because they have different thoughts they obviously take different actions. In some cases it is because they take action where the average person may not.
This is nicely articulated in the book “Think and Grow Rich” by Napoleon Hill. Most entrepreneurs have read this book. If you have missed this book in your reading library I strongly recommend you read it as it has helped thousands of people to train their minds for success.
How will the newly passed tax plan affect your investment decisions?
As with any successful investor or entrepreneur, it is always advisable to strategize your investments with your accountant. This year however may be more important than ever as the new tax plans may provide new opportunities with new benefits for investors.
You will want to know going into your investment year how these new tax changes may affect you and perhaps benefit you and provide more discretionary funds for you to invest with.
As you are establishing your objectives for 2018, I would like to share a proven success formula that all investors and successful people go through for the manifestation of wealth. Like golf, it is easy but it may not necessarily be simple.
Thoughts > Feelings > Actions > Results
While you wrap up the year and prepare your goals and objectives for investing (or any other goal) you indeed can manifest the results you want with this easy formula.
- Your thoughts translate into the feelings you have.
- These feelings guide the actions that you take.
- The actions that are taken translate into the results those actions warrant.
Change your thoughts
So what exactly differentiates those who succeed at accomplishing their goals and those who do not quite seem to uncover the results they want? A simple answer, it is how they think. Change your thoughts and change your results.
When I used this formula for the first time it generated one of my best investment deals
I had previously shared an investment of a 4 unit apartment building which I purchased that was not even for sale, the seller had originally stated that he liked this property and would most likely die with this property in his portfolio. Yet I was able to convince him to not only sell me the property, but I also convinced the seller to carry paper on 15% of the price so I could purchase with only a 5% down payment.
Furthermore I was able to negotiate a moratorium on the payments for one year. I wanted this 1 year time frame of no payments so I could execute part 2 of my plan (which I shared with the seller to be totally transparent). I then converted the property into 4 individual villas and increased the overall value. In fact I was able to increase the total value of the property by $236,000.
Within 3 months I was able to generate a $236,000 of equity from my original out of pocket cash outlay off a $26,000 down payment.
This was possible because I had clearly defined thoughts that were written down. Those thoughts translated to feelings of eagerness and unstoppability. These feelings translated into positive actions that would plow through any obstacle that I encountered. I share this only to impress upon you the power you have within you to manifest whatever it is you wish.
So what are your thoughts?
What is it you think about when you think about investing? Are you staying informed on the latest trends in real estate investing or do you allow yourself to get caught up in chasing the shiny object?
Or worse yet, have you not defined a clear and concise plan of action? If the latter is true you may want to look at your thoughts.
You can be assured when Warren Buffett makes investments; he has clearly defined his thoughts with laser focus. Dare to develop your focus with laser clarity. To be successful like the Warren Buffets of the world, you want to think like the Warren Buffets of the world.
Your thoughts translate toward feelings:
No, I am not going soft on you, everyone has feelings, so these feelings may as well serve you better. Every thought indeed evokes a feeling or emotion. How you feel about your thoughts dictates your actions.
Insuring you have great conviction around your thoughts is paramount to creating the action steps required to see your thought through to reality.
Write it down
When your thought merely runs through your mind and is not written down you often lose the required feelings to escalate it into reality. When I was negotiating on the 4 unit, having my written strategy plan down was key to insure I knew my end game and would not waiver from the steps needed to get to the results.
Written thoughts with action steps drafted for completion will propel you closer to that completion.
Your Feelings translate toward Actions:
Making an important financial altering decision does not have to be difficult. It becomes easy when you feel positive about the thoughts and feelings around it. You can go from deciding on thousand dollar decisions to hundreds of thousands or even million dollar decisions with ease. Remember the only difference between a $100,000 dollar decision and a $1,000,000 decision is an added zero. When you feel the same way toward a million dollar decision as you do a 10 dollar decision you have the ability to manifest wealth.
The quickest way to accelerate wealth is to invest with more zeros. To do so you want to be thinking clearly. At the time of this 4 unit purchase it was 4 times the price I ever paid for a single investment, yet I was more at ease with this decision than any investment I made to date. This is because I had a written plan and was dedicated to following this formula and being very purposeful.
Your Actions translates into Results:
Taking action is what everyone finds to be the hardest step of all. Action, or lack of action, is the only thing standing between you and success. If you indeed have thoughts which you feel good about, you will easily be able to take action which will eventually have positive results. It is all about feeling good with your thoughts, if you do not, you may want to adjust your thoughts. I know this is easier said than done and is the key to your success.
It is the fear of failure that tends to freeze us in our tracks. It is said that issues will generate fear and fear kills deals. If you let issues scare you, you may want to reassess your feelings around your decisions. I removed any fear of failure on this 4 unit purchase because I clearly researched everything and knew exactly the outcome I was looking for, with no fear, I was unstoppable.
Having support teams like your real estate power team is important to help plow through your fearful times.
Keeping informed on current investing trends and market conditions can help eliminate your inactivity. The ability to accept issues as they come, make sound decisions on how to work through the roadblock is the factor that separates the average person from the highly successful person.
Highly successful people are able to obtain great results as they take great action, these great actions stem from having good and positive feelings around their thoughts.
So as I share with all my investors, when you are ready to create wealth you can manifest it, and it all starts with a thought. What are your thoughts for your 2018?
“Invest to succeed, happy investing ”