The last couple of weeks have been extremely productive. I've had the opportunity to meet with my financial coach, play cashflow with new friends, network with other real estate guru's, and toured some potential properties.
In addition to the diagram, there were a few more nuggets throughout the week. I got a call back from the sign that I saw last week, the one that had the "real estate investor wanted" on it. It was a real estate investor looking to build a team full of people who could potentially work together. I was able to talk and meet with a few professional real estate investors, and got to pick their brain a bit. I asked how they got started, how they got enough capital to get going, and how I could help them further. I'm hoping to gain experience and knowledge from them, and in the process, hopefully a mentor. Screenshot from my bi-weekly coaching session In the cone of learning, the top 90% of information is retained and absorbed when it is something that you do and say... Well, that's why I play Cashflow. That game is so important because it allows you an opportunity to make deals, manage your cashflow, buy stock, sell real estate, negotiate deals, and more. It is literally a board game of what I'm trying to do in real life. As I continue to play the game, new ideas form and allow me the opportunity to look into making those ideas a reality in real life. Next week, I plan to find a real estate agent, set up my wish list, and start looking for properties. In addition, I plan to find a lender and get a loan pre-approved. Should be a fun week.
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This last week has been eventful. After finishing one of my most recent books, I ordered a board game that the author had created, called “Cashflow.” The game is intended for people who are trying to get out of the rat race, or who want to learn about their spending habits, or want to learn the basics of accounting, and learn what the rich do to become financially independent. I was excited to come home from work with a package on the front porch; my board game was waiting for me! I had the game, but the only problem was that I didn’t have people to play it with… After a lot of bribery, my wife finally agreed to play a round with me, but only if we put a timer on our game—-haha. Due to time constraints, I didn’t get to finish that game yet. However, I found a group of people like me, who want out of the rat race, who play this game once a month at a local Round Table pizza restaurant. I found this group on www.meetup.com. I missed the Meetup in February, but am excited to attend the Meetup in March with people who are thinking like me. In addition to purchasing and playing cashflow, I also witnessed a sign from the Gods. No Joke! It was a sign! Here’s how it happened: I was leaving Trader Joes one night and saw this sign… Are you kidding me!? I immediately thought it was a sign from the investing Gods. But, I know what everyone else is thinking, looks shady right? My wife even tried to prevent me from taking the picture. I got the pic anyways, just before the light turned green. I gave the number a call last week with not much of an expectation. “Hello, this is Kacey. How can I help you?” I told the guy I was calling in response to his sign, and he sounded excited to hear from me. Unfortunately, he was in a meeting and would need to call me back. In fact, as I write this, I am waiting for his call back today at 11:35 am. Fingers crossed! At the very least, I hope to come away from this experience with more insight.
Next week I will be contacting lenders and mortgage brokers to find out what markets I can realistically be expecting to buy. Next week I have my first Skype session with my Rich Dad Coach, and financial IQ group. I’m excited for the opportunity to report my progress to the group.
After reading the first book, my mind never stopped creating, thinking, brainstorming, and dreaming. I was a sponge, soaking up everything on the topic of building financial independence and wealth. Rich Dad, Poor Dad was an eye opening book. This book taught me that we all have different ways of thinking and approaching our day to day responsibilities. This book encouraged me to make a shift in the way that I think about money, wealth, and increasing my financial IQ. With a Rich mindset, instead of saying, "I can't afford it..." I'm learning to ask myself, "How can I afford it?" Saying, "I can't" stops creativity, while asking "How can I?" promotes creativity and dreams. So, what is a rat race anyways?
Think about it! What do we do in America? We're told to work hard in school, get good grades, go to college, get a degree, and that degree will provide you with a good paying job. How much of my life will be spent at work though? According to recent studies, when expressed as a percentage, if a person were to work an average of 39.2 hours a week from the ages 20-67, you will have spent 50% of your total waking hours at work (revisesociology.com). That is ridiculous! I'd rather be on the beach in Mexico, sailing around the world, visiting the world's 7 wonders, or spending that time with the people and pets that I love the most. The thought of spending 50% of my waking hours at work doesn't sit well with me. I want more independence than that, and I want more financial freedom than my day job can offer. My Goals for the Project
My Weekly ProgressSo, this last week, I sought out a financial coach from the Rich Dad company. I was able to get into contact with a Rich Dad coach after a quick submission of all my contact information on their website, www.richdad.com. A Rich Dad advisor contacted me within 24 hours of submitting my information, and then scheduled an appointment for me to meet with a Rich Dad director to see if I was a good fit for coaching. The concern is that people get coaches, but then end up not making the necessary steps to make changes in their lives. This interview was sort of a weeding out, I guess. I've told some family and friends about seeking out a financial coach, and they've all said I'm crazy. I honestly don't see what's so crazy. If you want to get better at a certain sport, hobby, or passion, you get a coach. If you want to learn something new, you seek out experts right? We spend so much time and money on our academics (College), but very few people spend time and money on their financial IQ. I decided to invest in my financial education first.
This week I hired a financial coach, started a 6 month financial IQ course, and have begun learning the basics of building wealth and passive income through a buy and hold real estate strategy. I'm pumped for what the next 6 months have in store for me. |
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