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A Team for Success

August 19, 2017 by  
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Keeping in line with the theme from last week’s post, here are a few more traits that most millionaires and multimillionaires have ingrained in their brains. These folks quite often …

… motivate others.

… have a strong work ethic and are not afraid of working very hard for what they want.

… are very coach-able

… seek out and find mentors.

… are passionate about their dream.

… take risks.

… have a strong desire to make lots of money.

… have a entrepreneurial mindset.

… are good at team building

… think big.

… have their money work for them.

… set goals.

… have great discipline and patience.

… have the ability to stay focused.

… understand and use compounding to create their wealth.

I would like to stress that to be super successful and make millions you don’t have to have all these traits and I’m pretty sure that very few people, if any, do. Still, it’s my opinion and experience that some of these traits are more essential and important than others when it comes to creating wealth. Once a person has set a goal to make megabucks and comes up with a great plan and a proven formula, a key trait to increase the chances of hitting that goal is that critical trait and ability to motivate others and build a good team. It’s pretty hard and very difficult, if not impossible, to build a fortune all by yourself. You must have a team of people around you.

Can you imagine someone trying to build a skyscraper without the help of anyone? That’s pretty much impossible and it’s the same with building a fortune.  One person can’t know or do everything.  In building my fortune I was always amazed by how much better and smarter some of my team were on so many issues. Yes, I would motivate, push, and delegate but it was my team that would make it all happen and they almost always delivered great results.

There is only 168 hours in a week and the only way you can get more hours and more great things done is by picking a great team, then motivate and delegate to make things happen. So, bottom line here, if you’re looking to make a fortune or add to the one you already have, seek out and find the best people for the job through referrals, lots of interviews, or whatever will help ensure you have a great team.

One last thought.  I find it so very fascinating and so critical to realized that I owe so many people for helping me to reach my goals. It is not just my team that did so much work but also those great mentors of mine that got me started and coached me along the way! They too are an essential part to my success and the success of so many other millionaires.

Bigger Rewards Than Money

July 8, 2017 by  
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It’s tons of fun making big money and it can help your life in so many ways. It not only allows you to live in a wonderful home, or even a mansion, but it gives you a chance to see the wonders of this great world of ours. On top of that, you can easily be a great giver to others including charities, struggling students, homeless people, and the sick.

Even with all these advantages, there are still other great rewards that supercharge your brain and give you big feelings of satisfaction, inner peace and happiness. And what would that be? Read the text message I recently received and I think you will see what reward I am talking about.

“Dear Mark: To me–now hold on big fella–you are a celebrity. It was such a privilege to have finally met you recently. I’ve wanted to do this for the 41 years that I’ve applied your basic fundamentals of real estate investment (coupled with my father’s teachings and influence with his rental property as a young boy) and learned and implemented from my first real estate book, HOW TO WAKE UP THE FINANCIAL GENIUS INSIDE YOU, in my year of marriage. It instilled confidence and was easy to understand. I’ve had “Fire in the Belly” ever since.

“That picture of you standing next to a Mercedes hood ornament screamed with success, at the time, in the advertisement of your book. I’ve had business mentors in my life, all unaware of the far and wide ripple of influence they’ve had in my life, unless I tell or have told them. And all of which were many years after the fact. You are one of those mentors that I’ve not had the opportunity to personally acknowledge and thank.

“So, thanks a million or better said, a few hundred million and even most likely, a billion times over. 🙂 How many millionaires/billionaires you created? I can’t imagine! Hopefully this created wealth has been used to parlay, edify and lift others in doing good things. It has for me. This is all I hope to do, as I attempt to keep all things in proper balance and perspective. You have blessed my family, me, and many other lives. Thank you most sincerely,

Scott C. Keller, CEO/President of Keller Investment Properties (KIP)”

I’m told that Scott’s net worth is well into the 9 digits and has been there for many years! So, I think you can probably guess how receiving this text made me feel and I sincerely hope you, the reader, are super financially successful and coach, help out, and teach others along the way! The feeling you get from doing so is as big a reward as the money, if not bigger.

Gems of Wisdom

June 9, 2017 by  
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Last week I shared bits of wisdom with you from the great Paul J. Meyer. Many of these were principles that ensure long term success in handling your money.  Let me share some more gems with you. And remember these gems come from a man who started with nothing but accumulated a half a billion dollar net worth by successfully helping and motivating other people.

These quotes are from a great 30 page booklet that Paul gave me years ago, entitled “Being Smart with Your Money” with my thoughts in parentheses.

  1. Set goals.
  2. Live within your means.
  3. Get on a budget and stay there.
  4. Pay yourself first. Just remember that a part of everything you earn is for you to keep.
  5. Put your money to work. (Invest it wisely–so it works for you 24 hours a day.)
  6. Get out of debt. (As in credit card debt. I would add that mortgage debt on income property is okay and can be a good thing.)
  7. Have realistic expectations. (Building a financial fortune takes time)
  8. Get wise counsel. (Find a good mentor that’s been successful with their money)
  9. Never spend what you have saved.

Alright, now let me give you a few thoughts of mine that have helped me in my financial life and life in general.

  1. Pay careful attention to your self-talk or your chatterbox inside your brain. When you catch yourself with negative chatter going on inside your head, push it out and replace it with positive self-talk.
  2. Don’t beat up on yourself when you stumble, fall or make mistakes, or fall short of your goals.
  3. Set big goals then be sure to write them down with a deadline. Just remember it’s okay, even very good, to take baby steps toward those big goals.
  4. Physically keep moving no matter what age you are. Walk, run, or otherwise workout. Using a Fit Bit can help you with this one.

Here’s some other wonderful little tidbits from Eckhart Tolle’s book The Power of Now that can help a life to be better:

  1. Make the living in the now the primary focus of your life.
  2. Stop judging self and partner.
  3. The greatest catalyst for change in a relationship is complete acceptance of your partner as he or she is.
  4. See if you can catch yourself complaining in speech or thought– if so, you are playing the victim.
  5. Let go of the past-only refer to it when it has relevance to the present.

 

 

Re-Motivating Words

June 3, 2017 by  
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The truly wonderful motivational guru Paul J. Meyer was one of my very greatest mentors. A couple of days ago, I was organizing a bunch of the books in my home library when I came across a book that Paul had given me back in 1977. I re-read the wonderful comments that he made about our relationship in the front of the book and consequently I just had to write about him and how he motivated me.

One of the great things he preached to me and others was to identify the books that help us the most and re-read them many times because all of us humans do tend to forget what we’ve learned in the past. Rather than read 1,000 books, he said find the best books that speak to you. That might be just a few dozen or even 100 books, but keep going back to them to refresh your memory and re-motivate yourself.

I began to glance through Paul’s book, The Story Of Paul J.Meyer … The Million Dollar Personal Success Plan, and yes, it refreshed my memory and I realized just how much I had forgotten. Now, just a couple days later, I am finding myself re-motivated and re-inspired. Here are a few choice quotes from Paul’s book:

“A self-confident attitude is the most important asset you can possess.”

“Self-motivation is the power that raises you to any level you seek.”

“Goal setting is the strongest human force for self-motivation.”

“Real confidence in yourself is always demonstrated by Action.”

“Decide what you want and write your goals. Then convert your goals into positive, present tense statement called affirmations. Affirm your goals each day until they become part of your subconscious mechanism.”

“A common reason for human failure is total disregard for the power of self-motivation.”

Great stuff! I do sincerely hope that Paul’s brilliant words, written years ago by this great man and friend who passed away in 2009, will reignite your passion for living and doing great things for your life as it has done for so many people on this earth.

Paul’s motivational records, books, tapes and speeches were, and are still, followed by millions of people around the globe. Even though he started with nothing he was able to get half way to a billion-dollar net worth in his lifetime. This was just part of the great reward he got from the many people he helped. Next week I want to share a few more of his great statements and motivational words plus a few others from great sources.

 

Losing Out to Fear

May 5, 2017 by  
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I am totally convinced that most people don’t end up making big money–especially when you are talking millions of dollars—not because they aren’t smart enough but because of their fears. It is a fear of failing and/or the fear of losing what little money they may have. Believe me, I totally understand those fears because that is exactly what held me back for a long time.  But that’s when my wonderful friend and mentor, Larry Rosenberg stepped in and gave me the courage to overcome my fears or at least reduce my level of fear. At the same time, he showed me exactly how to do the big deals and reduce the risks which, of course, reduced the amount of fear I had.

Don’t get me wrong there are always risks but even so, Larry convinced me that if I wanted to hit it really big, I would have to take some bigger risks. At that point, I reasoned with myself and agreed with that old saying, “Better to try and fail than never to try at all.”  I never forgot being told repeatedly when I was young, “Nothing ventured, nothing gained.”

There is no question that when you use financial leverage on a purchase that you increase the risk to yourself.  Like that old example I’ve used over and over—if you put 10% down on a $500,000 dollar property, you could lose all your money if that property dropped in value by 10% and you had to sell it. That’s $50k gone just like that.

That kind of risk is scary but on the other hand, if that property increases in value by 10% then you’ve just doubled your money or made a 100% return. Remember what huge numbers 100% returns do to your money over time–just one penny compounded at 100% a year grows to well over $10 million in just 30 years! That’s the great power of compounding. Of course, you can reduce your risks, big time, by using your brain and your brawn to fix up a property which greatly increases the chance of raising its value and greatly reduces your risk.

If you want to reduce your risk even more, you may want to do what one of my long time students did early on in his acquisition of property. I’m talking about Dell Loy Hansen who now owns properties valued in the billions. He started from scratch after he read my first book, How to Wake Up the Financial Genius Inside You. How did he reduce his risk?  He went out and found partners which allowed him to buy property with much bigger down payments, so they went into these investments with a lot more equity and hence less risk. That, of course, reduces the possible return on the amount invested but, for Mr. Hansen, it greatly increased his leverage and allowed him to buy bigger and bigger properties, hence his multibillion-dollar portfolio.

So remember, if you want to hit it big, be prepared to take some risks and if you want to cut those risks a bit, go find some good partners to share in the initial down payment. Just be sure to take good care of those partners.

 

 

Crushing Boredom

February 25, 2017 by  
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As I promised in my last post, I am bringing you my ideas and a list of different and exciting ways to overcome that nasty thing called boredom. Before I get into that list, however, I must share with you some thoughts about boredom and the effect it can have on a marriage.

As I’ve been thinking and writing about boredom I was struck by the thought that boredom may well be a common cause and a big reason why seemingly happy couples get a divorce and why a husband or a wife ends up having an affair when all seemed to be going so smoothly.

My wife and I had a very interesting discussion on this subject just the other morning. Recently we’ve realized that we need to push ourselves to make lists and plan for new and exciting things we should be doing because we have kind of settled into a very routine and ‘same-ole-thing’ pattern. I can’t speak for her but I have been getting quite bored. So, we began to talk about doing new things like going to new restaurants, trying new foods, going to new cities and countries, and trying all kinds of new and different stuff including making new friends.

As we were planning it struck me that it is so very natural for a couple that have been happily married for many years to move into a pattern of living that could easily become very boring. In that state, if a new person with a totally diverse lifestyle and background came along, a bored person could be enticed into thinking this new person was very special, not realizing that the real problem is boredom and that new person is not the answer.

So, okay, maybe a new person would take you out of your boredom for a while but eventually the same boredom will creep right back in. I can see how it can happen to a happy and compatible couple so I think that is an extra reason to spend time putting together a list and planning for new and exciting goals, projects, and fun adventures so as to push boredom away and make sure it stays away.

With that in mind, it’s a good idea to work on your list now. With the internet, it’s really a breeze to come up with a list of stuff that will get you away from boredom and keep you excited and involved with life and all the great things that life can bring. To start, just do a web search for “list of ideas to overcome boredom” or anything similar to that search and you’ll come up with list after list of activities and projects that almost certainly will lift anyone out of boredom.

Here is just a small sample of items gathered from several of those lists that grabbed me. And after that list I’ve complied a short list of items that did nothing at all for me but would no doubt work for some of you. To each his own and we are all certainly different.

So here are the items that grabbed my attention:

  • Take new trips to new cities, countries and places
  • Play tennis (Or, in my case, play more tennis.)
  • Go cycling
  • Take long walks to different places
  • Volunteer
  • Write an autobiography
  • Start a blog (Oops, I already did this one!)
  • Become a tour guide
  • Become a mentor
  • Teach a class
  • Research your family genealogy

And the things that didn’t grab me but might be just the thing for you:

  • Knit
  • Create crafts
  • Take cooking class
  • Go hunting
  • Go fishing
  • Restore old furniture
  • Be a pet sitter
  • Plant a garden
  • Go bird watching

Believe me, you will find dozens and dozens more ideas on the internet plus you can always ask for suggestions from family and friends. Ask them what they think would really appeal to you and would excite and enhance your life. They may see what you need better than you do. So, go ahead and get started on your boredom crushing list right now!

 

Lifting our Lives in 2017

December 30, 2016 by  
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As you look at or contemplate what you will be doing in 2017 and beyond, be sure to take a very hard look at the financial category. Life is certainly much more than just money but with plenty of money your options and success with many of your other goals in life can be greatly expanded.

For example, I just discovered that before the great actor and governor of California, Arnold Schwarzenegger, was famous, he became a millionaire from … yep, you guessed it … investing in good ole real estate! So even if you’ve not yet started an investment program you can do so now with savings and investing goals for 2017. It may take some time to build your fortune and you may feel you have so little to contribute right now, but try never to forget the huge power of compounding your money. Compounding can multiply even a very small amount of money into millions of dollars. Certainly Arnold knows that from his experience and so do I.

Eight years ago, when I starting writing my weekly blog it was almost exclusively about taking a small amount of money and wisely investing it, mainly in real estate, to build a fortune for yourself or at least for you to make enough to live very comfortably and retire without ever diminishing your lifestyle. But I’ve also written about health and well-being, relationships and friends, and traveling to broaden one’s perspectives on living, along with many other subjects. But I’m thinking now that as we face another year it would be wise to refocus our attention and goal setting back to that money thing that can lift so many parts of our lives including the lives of those around us.

In the foreword of the book Tools of Titans, the author Tim Ferris quotes Schwarzenegger’s thoughts not only about real estate making Arnold a millionaire but about his many other accomplishments. “I am not a self-made man,” Schwarzenegger says. “I got a lot of help … I stood on the shoulders of giants,” which was his way of giving credit to his parents, coaches, and teachers.

We all need to realize and give so much credit to others that have helped us along the way and then step up and let others climb on our shoulders to lift them up. For me I give tons of credit for my success to my wonderful parents and to the great Bill Nickerson and what his book, How I Turned $1,000 into a Million in My Spare Time, did for me. I also need to credit the great Denver real estate guru, – who took me under his wing and showed me exactly how he turned a few thousand dollars into multi-millions over the years. You can read more about that great story on my June 24th, 2016 blog.

I’ve tried to help others through my investing advice, directions, books, lectures and conversations. I have received rewards of great appreciation and many thank-you’s which are worth so much more than money. One of my resolutions for 2017 is to be more helpful to others. To accomplish this, I need to go to work right now and write down the details and specific steps or actions that I am going to take to accomplish that very goal. What are your goals and do you have them written down yet? If not, let’s do it. There is no time to waste.

Rewards Beyond Fortune and Fame

August 26, 2016 by  
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When I was young I was so very much into myself.  I craved success, financial and non-financial.  Oh man, how I wanted to be rich and famous! I went after both with great passion and energy. I worked hard and long to reach my goals. They consumed me!  And after many years, it paid off. I made millions and even got my 15 minutes of fame with a segment on Tom Brokaw’s nation wide NBC news show and a front page story in the Wall Street Journal. And yes, I thought I was pretty hot stuff. It was all very satisfying and rewarding.

However, over the years my idea about what is truly rewarding changed. Just 2 weeks ago I received the richest reward I could hope for, one that far exceeds the rewards that I had from fame and fortune. It happened on a little island called Whidbey, just west of Seattle Washington.  I had taken some of my kids and grandkids for a summer vacation and we stayed at an absolutely beautiful multi-acre estate called Quintessa owned by 2 lovely ladies, Tessa and Carrie.

My wonderful and huge reward came when Tessa, after learning my name, told me about how my books, tapes, and periodical, The Financial Freedom Report, was the key that motivated her to buy a number of income properties, including the heavily wooded Quintessa Estate with its ocean view and accommodations for up to 32 people.

Tessa stood there and thanked me so many times it was almost embarrassing. In the last 10 to 15 years, I have received many, many letters, emails, and phone calls with thanks and appreciation from people whose lives have been financially improved, but Tessa’s story and her enthusiasm given to me in person was like getting hit in the face with a brick–a good brick of course!  It brought to my mind, very forcefully, just how much more value and reward there is in helping people, so much more than fortune and fame.

The irony is that back in my younger days I was being very selfish, seeking my own fame and fortune but over time it led to helping many other people which was an unexpected bonus and a wonderful reward. It certainly made me want to work harder to help more people. I found I wanted more of that wonderful feeling, a feeling that surpasses anything I get from fortune and fame.  It took a bit of time to learn that lesson but I don’t think I will ever forget it.

So let’s all try to reach out and help those around us, whether it be family, friends or complete strangers. You may not even know what you have to offer but the rewards for finding out are amazing.

P.S. If you want to stay at the Quintessa estate, it is located at 3493 French Road, Clinton, WA, 98236, or contact them by email at thequintessa@gmail.com. Quintessa is set up in such a way as to help our kids and grandkids do some major bonding which is exactly what happened!

 

How to Double Your Financial Leverage

August 13, 2016 by  
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Leverage is a great tool you can use to grow very, very wealthy and do it fairly quickly, but there is another faster way to make the financial returns even bigger! I like to call this bigger and better way “Super Duper Leverage” because it really can magnify your return on investments and at a more rapid pace. The method involves bringing a partner or partners in on your deals.

In my early years of investing in real estate, I didn’t have any partners. All the money that was needed on a deal was mine and, of course, there would be the loan from the bank or from the seller of the property. But then I came across a super bargain on a 100 unit apartment building that I just had to have because I knew that it was going to be a huge money maker. The only problem was that I didn’t have enough money for the down payment.

However, as luck would have it, the real estate agent told me she had a friend that could put up a huge part of the down payment. To make a long story short, I put up what I had and this guy, who I’d never met before, living up in Idaho, put up the majority of the down payment.

Fast forward a few years … I sold the property giving the investor/partner hundreds of thousands of dollars’ in profit. The great part about this though, is that I also made the same profit but on my much smaller investment. The return was several times the amount I put in so I was thrilled and not only that, my new partner was happy as a clam, seeing he had put his money into a great deal with a partner that didn’t let him down.

Bottom line is that, with this partner putting up most of the money I was able to achieve a huge return on my investment–a much, much bigger return than I could ever have gotten on my own—and my partner had a big win as well! That’s what I call “Super Duper Leverage”.

If I’d been more aggressive after learning and profiting from the lesson I learned from that great deal, I probably could have kept up with my most successful student and follower, Dell Loy Hansen, who bought my book when he was in college. He eventually found a gold mine of very wealthy partners who, over time, joined him in multimillion dollar deals to the point that Dell now has over a billion dollars’ worth of property. Wow. Talk about “Super Duper Leverage”!

I want to elaborate on this subject more next week and give you some methods and ways to find and keep partners so as to be able to leverage your investments to the max. I’ll also talk about the legal aspects and the caution you need to use so as to do it the right way without legal troubles. You can certainly make a great deal of money with a partner but you also need to do it smart so you keep what you make and can go on to make even bigger and better investments with partners who trust you and keep coming back for more.

 

 

Compounding My Thanks

July 1, 2016 by  
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Continuing with my thank you notes I started last week, I’d like to thank the man I call “Mr. Motivator”. He showed me the importance of goal setting which helps, and almost automatically pushes and pulls you, to achieve things you didn’t think you could do at first. That person was Mr. Paul J. Meyer of Waco, Texas. He started with nothing and went on to make around $500 million by motivating others and showing them how to do the same thing.

Paul started SMI, the Success Motivation Institute, which has spread worldwide, inspiring and motivating millions of people around the globe, including myself. I’ve told you a bit about him and the story of how I came to meet him, right here on this blog, so you probably know he and I became very good friends. I truly owe a huge thanks to Mr. Paul J. Meyer and, of course, also his lovely and wonderful wife, Jane.

Notes of thanks could not be sent out without acknowledging a particularly brilliant writer and marketer that came into my life. This man showed me how to successfully spread my financial message through advertising. My ‘Mr. Mass Marketer’ is otherwise known to me as Joe Karbo of Huntington Beach, California. Because of the brilliant mass advertising methods of his that I followed, I sold over 2 million copies of my first book which helped me launch a very large seminar company. That helped me spread the financial formulas and motivation techniques that Larry Rosenberg and Paul J. Meyer taught me.

What was Joe’s brilliant marketing method? Well, he ran a brilliant full page ad that I saw entitled “The Lazy Man’s Way to Riches” with the enticing subtitle, “Most people are too busy earning a living to make any money.” I saw the ad in the Times Newspaper back on March 2nd, 1979 (I still have the original copy). It took me a lot of phone calls but I finally got to meet and know Joe and we became friends. He coached me through some amazing mass marketing success.

So thanks Joe Karbo. You helped me and you helped the world more than you are your posterity will ever know. This is true for all the great human beings I’ve mentioned in the last few weeks. Where would I be without them? Where would you be without your super motivating people

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