Scarcity Mentality
How many of you are out there with the scarcity mentality—it’s me, myself, and I.
I can tell you how to diagnose yourself. Have you ever listened to the show and said, gosh, if real estate works so good, why wouldn’t Steve just be keeping it all to himself? Why would he share these ideas? You have got the scarcity mentality.
You have got a me, myself, and I mentality. You’ve got a greed mentality. You don’t know what you’re doing in a capitalist society and you better change that, and you’d better start building a team.
I’m a little upset today because of, you know—and I need to just say it, I guess. Farrah Fawcett passed away today, Ed McMahon I guess yesterday or day before. Ridiculous. Death sucks. Death is stupid. And I know that some of you are going wow, really profound, Steve. No, it sucks. And people need to be aware it’s coming. And people need to be living their lives today.
Do the Right Thing
And they need to be doing the right thing because it’s the right thing, not because of a threat of hell or promise of heaven. Do the right thing now because it’s the right thing. Stop having to be manipulated by the promise of heaven or the—and every religion does it, so don’t anybody call me and go oh, you’re hammering some religion.
No, I’m hammering all of them. All of them. Because instead of them having the faith in you guys to go, you know what, you guys are good people. You will do the right thing for the right reasons. They’ve got to promise you this future that’s so perfect, and then they have got to threaten you with hell if you don’t behave and do the things they want you to do.
This is also to be said with the deepest respect for Ryan O’Neal. Ryan O’Neal is going to be on 20/20 with Barbara Walters this weekend, and she’s going to be asking him questions about what is, you know, the death of the love of his life which was Farrah Fawcett. He had asked her to marry him, and she said yes.
And you know, because of I am sure very, very legitimate reasons they put it off—including her treatment and so on. But you know what, I bet right now he wishes he had just grabbed whoever, justice of the peace or if they are religious grabbed their religious leader, walked into the hospital, sat next to the bed and done it.
Gotten married if that’s what they wanted to do which they obviously did and worried about a big fancy wedding with cars—I am sorry, limos and big buildings and flowers later, because now she’s gone. And you’ve lost love ones. I have lost loved ones. We all have.
Don’t Wait
And there’s stuff that we all need to do today. Today. Not next week, not next month. Today. Now, I am going to get off of this and back onto finance. But one of the things you guys have got to understand is you cannot put this off. There is no more oh, I’ll wait for the economy to recover. I will wait till I get a pay increase. I will wait till I feel more secure in my job. I’ll wait—it’s all B.S. It’s a bloody lie. I want every KSEV listener to start building income streams for themselves and their families today. It has to start today.
Are you going to be the person that gets diagnosed and hasn’t done what they needed to do for their family and their financial future? Listen, I consult them all the flippin’ time. Women coming in here going I had the most wonderful husband ever. He left me with $400,000 worth of debt and about $30,000 in the bank. Men walk in, tell the same story just a slightly different way.
Bottom line, people die. And because they put off the vacations, because they put off the fitness, because they put off dealing with the charities that were important to them, they put off going to their churches, they put off everything to the future, they never got out of life what they wanted. Don’t do that.
Use this as a motivation. If you are not motivated by Ed McMahon or celebrities like Farrah Fawcett—and the pain that Ryan O’Neal must be going through right now I can’t imagine. I can’t even think about it without getting choked up. Today. Right now, people.
Real Estate Makes Your Family Money in Five Ways
What I am going to do right now is I’m going to teach you why every single dollar you put into a piece of real estate makes your family money five different ways. And you’re out there putting along with your stinking stocks and bonds and metals and all this garbage, and you’re dependent on a company for your income.
Oh, I hope my job is still there next week. Now, as harsh as I am on those things, make sure that you understand that I am doing this just to get your attention. I want to get your adrenalin flowing. I want to get your endorphins so you remember this. Those things are not wealth. They are speculative. They are tools.
Wealth is how long you can go without working and not touch your savings. But how many of you were ever taught that? Very few of you. I know the answer. How long can you go—quit your job tomorrow. You are not allowed to work. You are too old. You die.
Whatever it is, you are not working tomorrow and you can’t. How much money do you have coming in ever month? The answer to that question is how effective all your years of work up to this point have been at getting you retired. Now, let that sink in for a second.
Some of you are listening to me have worked 10, 20, 30 years and the answer to that question is zero dollars. Do you think you’re stupid? Do you think you’re lazy? Do you think you don’t care about other people? No. You do care about other people.
The Wrong Map
You are hard working. You are not lazy. You’re smart. But somebody laid down the wrong map for you, didn’t they? And out of obedience you followed it. Remember this one? Obey—oh, honor thy parents. Obey I hear all the time in different religions. Obey your parents. What if your parent was Adolf Hitler? Can you see why that rule doesn’t apply? It’s not a principle, it’s a rule. Remember, principles work in all circumstances, rules can be broken in many.
So let’s go through this. And then we are going to come back to the beginning of this discussion when we get to the end of this show. But I want you all to know this: For every dollar you invest in real estate you make money six ways. This is the difference between speculation and the stock market, metals or even real estate—you can speculate in real estate.
People can screw up even real estate. Speculation is any product where you only make money if the value goes up. Heads you win, tails you lose. Investors in real estate make money in both the up and down markets. Heads you win, tails you win. Coming up are the six ways that every dollar your family puts into a piece of investment real estate makes you money.
{ 3 comments… read them below or add one }
Steve:
I enjoy hearing you on the radio and reading your messages. I joined LUI in April of 2008 as a PIG. I have purchased 16 houses since then and just had another offer accepted. I’m in 2 MF as a passive. Life is balance and terrific. Please come to Irving and speak.
Jerry
Way to go. That has to be a record. Thank you for the kind words. Keep up the great work and pass it on to your friends and family.
Steve
Jerry-
Congratulations on aquiring 16 houses in 3 months. Have you thought about getting on the radio and telling your story? Very inspiring!
Karen