Famous Four! How Would YOU Answer?

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At the end of every BiggerPockets Podcast Episode, we ask the same four questions (really five, because Brandon can't count.) How would YOU answer them? (Skipping 5 because self promotion is not allowed in the forums.)

1. What is your favorite real estate book?

2. What is your favorite business book, non-real estate?

3. What are your hobbies?

4. What do you think sets apart successful investors from those who give up, fail, or never even get started?

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Oh, and if you'd rather give these answers as a guest on the show (and have more than 10 deals under your belt) go to www.biggerpockets.com/guest and fill out the form to submit yourself for the show.

1) Crushing It by Brian Murray
2) Give and Take by Adam Grant
3) Bowling and spending time with my family
4) Treating your real estate investments like a business (ie not like a job, or like a passive investment).

1.  Real Estate Finance and Investments: Risk and Opportunities by Peter Linneman

2. Think and Grow Rich by Napoleon Hill

3. Hiking, Yoga, Volunteering

4. Self Discipline.  

1. What is your favorite real estate book?

Still probably Rich Dad, Poor Dad.. you probably haven't heard of it so check it out.

2. What is your favorite business book, non-real estate?

Tools of Titans - Tim Ferriss.. This is truly my bible. It is also a book which though it is not intended.. I read cover to cover which is a feat for me in general but especially with this monster. I love the format, the sections, the content, the repetitive questions so you can compare/contrast answers. The healthy, wealthy, and wise distinction is genius and I can review this book for the rest of my life and still gain something new every time I look at it.

3. What are your hobbies?

Learning always. Constantly improving my process of turning lessons and knowledge into action. Other than that it's spending time with my beautiful fiancé, our dogs, our family and friends, trying to improve my health and fitness every day, and regrettably the expensive habit of golf still lures me in almost every weekend.

4. What do you think sets apart successful investors from those who give up, fail, or never even get started?

It's just your mindset. Some people are dealt opportunities and they see them as massive hurdles and others see them as exciting adventures and they jump in without needing a roadmap. That's life in general, if you are waiting around for the clear roadmap, or the right time you will live a life of waiting, also filled with anxiety and disappointment. Just understand that learning comes from experience, and experience is gained only after taking action. Get educated enough to start, then start... and learn everything you can. Experts in every field make disastrous mistakes all the time, so theres no reason you can't take action and figure things out as you go no matter what mistakes you make.

Love the content, and always enjoy everything you guys and girls put out.

Keep up the great work!

1. Investing in Duplexes, Triplexes, and Quads by Larry B. Loftis

2. The Compound Effect by Darren Hardy

3. Surfing and Beer Drinking :)

4. Just DO IT!

I'm in the process of doing my 9th deal and will promptly fill out the form when i've completed my 10th!  

Cheers!

1. Rich Dad Poor Dad

2. The 7 Habits of Highly Effective People - Steven Covey

3. Self-Growth (reading, learning, networking), Family, Fitness, Sports, Traveling

4. Your Why! What drives you, what are the underlying forces that motivate you, how do you train your mind, and how do you narrow your focus to go after One Thing and take action instead of sitting on the sidelines.

1. Rich dad poor dad
2. Book of Proverbs in the holy Bible . You might say that a book like the Bible isn’t investor or RE related but if you study it daily you would be amazed the principles and business practices that can be found that are applicable today
3.hiking .bowhunting , driving my sports cars
4. Everyone is raised with a certain mentality about money . They have subliminally an internal set financial thermostat in their mind and recede once they hit it . In life People actually set their own limitations and bars to their finances wether they realize it or not . The motivated person willing to take risk and break the bar frees his mind and breaks through the money barriers he was taught all his life . He will make it work no matter what setbacks or roadblocks are in his way . A mentally driven man cannot be stopped and will succeed because an act of his will can’t permit failure

1. Rich Dad Poor Dad. Changed my mindset forever & continues to pump me up.

2. The Bible. Guides my walk & my faith & family way beyond real estate.

3. My hobbies are golf, disc golf, travel, crypto, & reading.

4. I think I made it because I found a decent mentor who cared & because I took action at a young age & started out of state where I moved for college & got to house hack & do remodels with friends & worked with tenants for years on my own. Finally practicing frugality & avoiding student loans & other debt!

1.  Set For Life and Rich Dad Poor Dad

2. The Slight Edge by Jeff Olson

3. Hiking, kayaking, and oudoors

4. Mindset.  If you go into this with the wrong mindset, it's going to be a constant struggle.  I think it's important to have the mindset of there will be issues that come up, and most of them can be dealt with, or you can pay someone else to deal with them.  Always ask yourself "what is great about this situation" even if on the surface it seems like a bad one.

1. The book on rental property investing 

2. The millionaire next door

3. Spending time with family, golf, going to the gym

4. Not having your financial house in order first

1. Millionaire Real Estate Investor

2. The e-myth

3. Travel, working out, skiing and water sports

4. Perseverance or grit

1. Tie between Rich Dad, Poor Dad and Millionaire Real Estate Investor.

2. Tie between The E-Myth and Wealthy Barber, Think and Grow Rich a close second.

3. Video games involving building: cities, transportation networks, businesses etc. And just got started with gardening this year.

4. Fear, self-doubt, limiting beliefs. We all have them but successful investors DO IT ANYWAY!

1. What is your favorite real estate book?

Rich Dad, Poor Dad

2. What is your favorite business book, non-real estate?

The Bible.  It provides the definitive plumb-line by which everything in life can be measured including how to treat others, forgiving business partners who’ve screwed us, how to recognize greed vs. “good enough,” and the value of giving some of our wealth away to people who genuinely need help.

3. What are your hobbies?

Reading, spending time with my family, traveling, and building relationships with people smarter than me.

4. What do you think sets apart successful investors from those who give up, fail, or never even get start?

Investors overcome the fear of failure and understand there’s a difference between a reason and an excuse.  Many people give reasons why they can’t invest in real estate, but they’re just excuses.  BP helped me understand that, and the BP community fosters enough encouragement and advice to anyone willing to listen; resulting in excuses being stripped away.  How can anyone be a BP member and not feel a part of a community that wants to see everyone successful.

Thanks!

1."Profits in Buying and Renovating Homes" by Lawrence Dworin. Oldie but goodie.

2. "Stop Acting Rich" by Thomas Stanley. Drills down to the heart of his argument better than the more popular "The Millionaire Next Door."

3. I get a real kick out of traveling with my wife.

4. Humility. Proud people are brittle. Hurt them enough, and they shatter like glass. They think they have something to lose. They can't laugh at themselves. They don't dare to risk their own good opinion of themselves. And the very worst -- they can't learn.

1. Long distance real estate investing (David Greene)

2. The slight edge (Jeff Olson) Love this book.
The underlying theme is that absolutely every little decision you make matters.

3. I’m big into working out and staying fit. That’s more of a lifestyle than a hobby I suppose. I like snowboarding, surfing, hiking, shooting, and traveling. I also want to start scuba diving and martial arts at some point. I work SOOO much all of these hobbies are a secondary priority right now. Gotta do what I gotta do to make the REI dream come true.

4. This ones clear in my opinion. A lack of self discipline, and just plain being too soft is what makes people fail. Most people just aren’t willing to put themselves through pain to win.

1. Great by Choice by Jim Collins

2. The Millionaire Real Estate Investor by Gary Keller (just barely over Brandon Turner's books, sorry)

3. Guitar, traveling, working out, reading, and of course, writing

4. Hustle and the ability to hear a lot of people say "no" without getting down about it

1) 5 Day Weekend or Rich Dad Poor Dad

2) Lincoln on Leadership

3) Watching baseball (Go M'S!), taking my dog on long walks, and writing ebooks.

4) Two fold. First is that people who fail, quit, or never get started is that they see real estate investing as an ends, rather than the means of financial freedom. By that, I mean that those people ignore the singles, and only try go for the homerun deals. 

Most "investors" I meet at local meet ups have never gotten started because they are waiting for that perfect property to appear where it is turn-key, under market value, and will produce $200 p/door and at least 15% COC ROI and they do not need to do anything and can just lay on the beach and collect monthly checks.

The thing to me is that you need to hit consecutive singles and grind your teeth in order to get that home run ball. In other words, buy properties, work your butt off, and be able to make sacrifices while living frugally so you can actually get started in real estate. 

My first property broke even for the first couple months, but guess what, I loved every second of it because I learned SO much about real estate that books/seminars etc would have never taught me. Not only that, but that 'single' led me to my next deal. And that second property that broke even as well, allowed me to now close on my third property here in the following deals.

I LOVE REAL ESTATE. I am not going to be a millionaire because of real estate. But real estate will allow me to have the financial freedom to where I can focus on myself and become a millionaire by focusing on other means. That is the disconnect that most 'investors' do not understand. Brandon Turner, Josh Dworkin, and gang did not become successful because of real estate, they became successful because real estate allowed them have the financial freedom to focus on themselves and their businesses. 

1.  Rich Dad, Poor Dad

2.  The Bible as a guide to life.  Millionaire Next Door as a mindset.

3.  Reading, tennis, spending time with my family.

4.  As Gary Keller says in Millionaire Real Estate Investor, "Anyone can do it but only a few will.  Will you?"  I think it is a mindset.  Too many people see real estate investing as complicated or risky.  They have heard horror stories of others who have been forced into being a landlord when a home wouldn't sell.  The inertia required to get started in real estate investing looks insurmountable so many people allow a perceived risk to convince them not to try. 

1. Rich Dad,Poor Dad

2.Secrets of the Millionaire Mind
by T. Harv Eker

3. Gardening,Reading BP forums,investment books in Barnes n Noble Library 🤓 and Listening to BP podcasts

4. Passion.You got to have passion in what u do to succeed.Have you noticed the investors/guests in bp podcasts and even Josh n Brandon how they talk abt REI...they’re so contagious!

1. The ABCs of Real Estate Investing. This was the first book I read specifically geared toward REI. It provided a great foundation on which I could build. I would recommend it to any newbie.

2. The E-myth. Systems, systems, systems. The key to success. Find what works, implement it, make no exceptions, and constantly reevaluate.

3. Spending time with my fiance. Enjoying the outdoors.

4. Surround yourself with resources to help you succeed. Read books, be active on BP, join REI associations, find people around you who have succeeded and learn from them. Being around people and resources with similar goals and drives will give you the influence you need to stay on take and succeed.

1. What is your favorite real estate book?

The Book on rental Property Investing by Brandon Turner.  It was as if he wrote this book specifically for me and pointed me in the direction I needed to go at the right time.

2. What is your favorite business book, non-real estate?

Rich Dad, Poor Dad by Robert Kyosaki.  I struggled with how to create additional streams of income.  About five years after I read the book, I was doing a budget, and realized that I had five streams of income, but had not done it on purpose.  I had learned how to do it, but had not identified it with purpose.  Now I fully understand the ideas and strategies, and it has made all the difference. 

3. What are your hobbies?

Spending time with my wife and kids; playing the guitar; and running/biking.

4. What do you think sets apart successful investors from those who give up, fail, or never even get started?

I think those that fail to start or give up, here the first no and stop looking.  I spent a few years learning to find and analyze a deal and defining my criteria all the way through my exit strategy.  When it came to funding a deal, I quickly became discouraged because a tradition mortgage broker could not help me or point me in the right direction.  I could have stalled and decide to wait until the answer came to me, but I reached out to several investment forum and identified a commercial lender.  This is only one example of a roadblock that I encountered along the way.  I decided that nothing was going to prevent me from becoming an active investor.  Brandon Turner talks about breaking seemingly large goals and unsurmountable tasks into MINS or the Most Important Next Step. This philosophy has changed my life, and I apply it to everything.  I may not have been able to know how I was going to fund 75 units in the next five years, but I knew I could make a phone call.

1. Book on Rental Property Investing, Rich Dad Poor Dad

2. Crushing It! By Gary Vee

3. Playing basketball and learning anything that I can about real estate/business. 

4. Haven't gotten started, but have one year left of college and will be looking to buy a multi-family that I can live in and rent out the other unit(s). I am just going to jump in and not let my fear keep me from investing.

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