Jun 12, 2020
In this episode, let’s dig into the first three or four chapters of my book review of the “Road Less Stupid” written by Keith Cunningham. This will require your full attention, a paper, and a pen to answer questions that we need to think about if we want to achieve exceptional results.
I highly recommend this book to people like you looking to advance their investment roadmap.
Things you will learn in this episode:
[00:01 - 05:59] Opening Segment
- I talked briefly about valuable information that you can take advantage of in this episode
- I share with you the book that I review entitled "The Road Less Stupid” by Keith Cunningham, which I highly recommend. Check the link below.
- “If you could rewind three poor financial decisions you've made in your life, how much more money would you have?”
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- I share 2 mistakes and poor financial decisions I’ve made in my life
- The importance of investing in properties in the best locations
[06:00 - 12:02] Avoiding Investing Mistakes
- I share the “Disciplines of Thinking” from my book review that we can apply to investing in commercial real estate
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- Asking a better question: How might I ___ so that I can ___?
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- How might I replace my income so that I can spend more time doing what I love or spend more time with my family?
- Separating the problem from the symptom.
- You want to create passive income but you don’t know how? Let's first identify your underlying problem by listening to some useful facts.
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- Your expenses exceed your income
- Lotto investing mindset
[12:03 - 18:21] 3 Questions to Get Clarity into Investing Roadmap
- What are the possible reasons you're noticing the symptoms?
- What isn't happening that if it did happen, would ease the perceived gap or narrow it?
- What is happening that if stopped would cause the gap to narrow or disappear?
- I talk about valuable information on how to treat the symptoms in order to come up with great solutions.
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- prioritize where your money is going.
- expenses exceed how much money you're earning
[18:22 - 24:08] Advancing Into the Real Estate Investing Roadmap
- If you keep telling yourself that “It's very difficult to find deals” These are the questions that might solve your problem.
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- How many deals did you tour last week?
- How many deals did you underwrite?
- How many brokers did you talk to?
- How many sellers did you call directly from a For Rent?
- What is sustainable forward progress?
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- steps that you can think of, in terms of advancing in the commercial real estate realm
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- point A is where you are right now, point B is where you want to get to write the clear outcome.
[24:09 - 27:56] Closing Segment
- What is my coaching and consulting program all about?
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- We get clear on your investing roadmap, designing a plan to get you from point A to point B, and establishing where you're at.
- We help you find the properties, raise the capital, and build a team around you.
- If you are interested in my coaching and consulting program, please reach out to me through email at shane@shanemelanson.com or see below for my website link
- Final words from me
Tweetable Quotes:
“If you could go back in time and unwind two or three poor financial decisions you've made in your life, how much more money would you have?” -Keith Cunningham
“Don't lose money” - Warren Buffett
“The number of mistakes that I've seen others make if they could just go back and rewind them, they would be so much further ahead” -Shane Melanson
“If your lifestyle continues to grow, and your expenses exceed how much money you're earning and how much you're growing, you're perpetually underwater” -Shane Melanson
“The actions that you're taking today are probably not the same actions you need in order to achieve your goal, or you'd already been there” -Shane Melanson
Resources mentioned in the episode:
- The Road Less Stupid by Keith Cunningham (Amazon)
- Club Syndication (My website)
- Club Syndication (Amazon)
- Email Me: shane@shanemelanson.com
- Shanemelanson.com
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