Jan 22, 2019
The reason why I have brought this topic is because by now we all should know that Learning is a Lifelong Process of keeping Abreast of Change.
No matter how long you've been investing in Real Estate, things changes all the time such as Economy, Market, Rules & Regulations etc. With such diverse factors affecting the investing process, if One would say that he/she has mastered the Investment process and will survive in any economical conditions, I wish him/her Good Luck. There are infinite ways we can do business better, not only in Real Estate but in any business.
Even if you are a veteran investor, I highly recommend you to keep your learning enthusiasm going. As I have been in business for over 25 years, I still have to keep studying – studying the market, staying on top of the changes, react quickly to the change or better yet be proactive. For example, if you attended a webinar for investing in Real Estate, things you might have learned may be “how mortgage works, what is the Cap Rate, what is Return on Investment and much more”. Now if you attend a similar webinar or class again you will learn more and from a different place as you know more now. Maybe the first time you pick up the basics but the 2nd or 3rd time you pick up different things. The topics will make more sense if you analyze more in depth like what method or technique the presenter uses to get higher Return on Investment. And yes, this strategy applies to everyone in their business and personal life, because down the road you may want to buy a house for yourself or you may need to educate your kids for buying the house for themselves.
Remember, Learning will not go in vain. For a great learning and networking opportunity check out my annual PREF event in Regina SK. March 25-27th 2019. Get your early bird tickets before January 31st. Click here:
Hey, hey. It's Edna Keep here. Welcome to the seven figure real estate podcast. I'm your host. I hope you enjoy the episode.
Hey, good morning. It's Edna Keep here live with mindset Monday and today we're going to talk about. I've already done that. I've seen that before. You're not teaching me anything new. How many times have you heard that stuff coming out of your mouth? I know I've said it myself. I've been at events and you know maybe a little boredom cuts in and they start thinking you know what I already know this but what I've learned is if you are not performing at the level that you want to be performing you need to do it again if it's something you're interested. If you go to a jujitsu class and you're not any good at it but you don't care, then don't waste any more time there. But if you're at a class and it is something you care about whether it's your personal development or learning more about real estate or I see Bev is on here more learning more hair cutting or styling techniques then you know what. Suck it up. Sometimes you have to sit through the story that you've heard two or three times already. Other people in the audience may not have heard this story so it's important to tell it. Why listen to me? Well, you know what when you've done a lot of things sometimes you have to remind people of what you've accomplished so that they know why they're paying attention to you.
So how many people have taken one real estate class and figure they know everything? Do you know people like that? How many people have never taken a class and they still think they know everything, or they think they know nothing, and they can't get beyond that. There's lots of people out there like that. I still remember when we started with Robert Kiyosaki meeting people who have been in their classes for three years or more never bought a property. At the time I remember thinking that was a little bit silly. You know I knew what they paid for the education I was the guy who was going to make darn sure I learned it. And I was going to make darn sure I applied it. It wasn't just about learning for me not when you're spending that kind of money if you want to just learn and not implement it I’d go buy a fifteen dollar book. I mean we've got millions and millions of books on our shelves or in our Kindle phone. And it's not about all the books you buy it is about implementing what you learn. I learned that a long time ago too. And will you implement everything you learn? No, because some things just don't fit with you.
There's lots of people out there I follow for different reasons whether it's mindset or you know spiritual practices something I'm learning, exercise, weight loss you know I listen to all kinds of opinions and then I do what's right for me. So where can you do that? Where can you show up learn what you want to learn and then actually implement it? It still amazes me how many people sign up for my course and don't even show up the first day. It’s like really? Why did you even bother? I know the content good. I know it's worked for many many people. Maybe timing's not right. Maybe you're going to start next week or the week after, the week after and that's OK. I can't pick and choose what time works best for you, but I've got courses where I haven't taken it I just bought it I thought it was interesting and then decided it wasn't interesting enough to finish it. And that that happens too.
So, I'm not cutting it down for saying that you just didn't get to it or didn't get around to it. Maybe you found something in the meantime that pique your interest more. But to say I've been there I've done that I challenge my students on that sometimes I had one fellow who had watched module one and he said you know, and I've written out my vision many times before I don't want to do this again. He says, “Just know that I know it”, I said, “OK if you insist what you know go for it you can skip that one if you want.” Because I realize I've written out my vision many many times too and if I sign up for a new course I don't necessarily want to write it all over again.
So, module two I get the same response; “I listen to the video. I liked it. You had some really good points in there. But you know what I'm not going to do the homework. He says I don't get the point.” He says “I can remember module two is what reflecting back or something like that. No, I don't get the point.” I said “Well you know what. How about this.” I said “First of all you told me I'm not going to do module you’ll listen to it. That's good. Now you tell me not going to do module two. And I went back, and I looked at our call and notes on our call and you told me you're not where you want to be. So that was the reason you signed up you there's things that you're missing so maybe you should quit shortchanging yourself and actually do them. Maybe it's time to rewrite that vision was that vision written out five years ago. Has your vision changed.” My vision could change daily depending on whatever I’m reading or watching. So maybe that can happen to you too. And you know what mastery of whatever skill it is that you're learning whether it's analyzing buildings or attracting investors, talking to investors. Mastery repetition is the mother skill. So yeah, many times you tell the same story, many times you do the same analysis, many times you read that same analysis to make sure you're not missing anything, any times you're repeating something you already did. But that's mastery.
I think I've read something not too long ago it a quote maybe by Bruce Lee. I mean Bruce Lee fans will probably recognize this. “I do not fear the man who has ten thousand techniques. I fear the man that has one technique that he's done ten thousand times.” So how could that help you? Maybe it's reading that same book you read three years ago but it really made a difference for you maybe you can open it up and listen to it from your new place in your life because you change every day. So when you get up and you're a new person maybe there's something that you'll get out of that, same with the course that's one of the reasons I made the course lifetime access you’ll go back and you can watch it anytime you want because the first time you watch it for a lot of people it's totally brand new it's foreign. Some of the concepts are foreign, they don't wrap their head around them, but it tweaks, there's something there. So then next time when they're out and they're looking at a building in an “Oh yes. This time I'm going to ask for a vendor take back.” It's about taking those things that you learn putting them into practice because you might get shot down ten times or the vendor goes no I'm not leaving money in the deal. So, what? Keep asking because it's not about the ones that don't it's about the ones that do. Right.
So where are you holding yourself back in areas where you've said: “Been there, done that, I have the T-shirt, I'm going to read the same old thing, I'm going to learn the same old thing.” Well if you're interested and you haven't mastered it yet, repetition is the mother skill. Listen again listen to the same video again. Maybe there's something else you'll get out of it. Instead of listening half-heartedly which I know a lot of people do they're listening to it and they're doing their to-do list for the day or they're or they're working on this. This is what I'm guilty of. We're on my accounting stuff in the background because I really just call it no brainer stuff. But you know what if I really really really want to take something from a webinar the best way is to listen and take notes and I know a lot of people love to tap it out on their computer and that's fine everybody's different. But I like to take notes actual physical notes that I can that go back and look on because that helps me reinforce it. And you know something else that helps me reinforce it is teaching it to others. So, you know I've always said to people you know when you're taking my course, or you attend a seminar think of at least one thing you could take home to your family and say you know what I want to incorporate this into our lives. This is a habit somebody started doing, this is something they do every day whether it's read fifteen minutes a day, whether it's workout fifteen minutes a day, whether it's drink ten glasses of water a day whatever. Those are the habits and the skills practicing those habits because eventually it just becomes something that you do every day right. Those are the things that always make your life better. And it's not all always about the new and better thing. Lots of times it's about repeating, repeating, repeating till we've really really mastered and understood the different nuances of whatever you're working on. So hopefully that topic helped you today.
I know it's something that I try to do all the time I am studying my real estate, I study the markets and plus we're in the trenches we're always working on stuff so but always learning new stuff like it's amazing we can do a mortgage three months ago and do a new mortgage and there's something else that comes up. Some other questions that are being asked some are interesting ways that they point things out to you. So, there's always, always times and places to learn even if you think “Been there done that have the T-shirt” if you have not mastered it there's definitely room for you to do it again. So, have a really really good week. Enjoy your week. We've got a great week coming up and we'll talk to you all on Friday. Bye for now.
Thank you so much for listening. It's my sincere intention that you got value from this episode. If you're interested in learning more about building your passive income through real estate either by investing with us as a joint venture partner or as a student discovering how you can attract investors to your deals and build your seven figure real estate portfolio by helping others build their passive income. Check out my website Ednakeep.com or watch my free masterclass Ednakeep.com/90daysto5k.