What I’m Reading
Calculated Risk Blog - If you’re looking to stay up to date on economy and market updates, look no further than the Calculated Risk Blog. Its one of my favorite blogs that analyzes real time data for all things stocks, real estate, and economics.
Wisdom of the Week
Money rules to remember on your way to 7 figures and beyond:
- Don't borrow money to buy luxury. Borrow money to buy assets that generate enough cash flow to pay for your luxuries.
- Don’t lend money to friends you want to keep unless you don’t care if you get it back or not.
- Treat credit cards like debit cards.
- If you can’t buy it twice, you can’t afford it.
- Invest $20 of every $100 you earn.
- Always spend less than you make, no matter what!
Question of the Week
Question: I’m getting more and more people who want a piece of my time. How do you say no to people without feeling bad or coming off like a jerk? - Daniel K (San Jose , CA)
Answer: I call it the “graceful no”. Use this simple script…”While I appreciate you asking, I just can’t commit to that at this time. But…If you circle up with me (insert date a few weeks/months out), I'd be happy to revisit that with you”. This is a great way to still honor someone's ask while protecting your time and guest what? 99% of people asking for your time most likely won't follow up. Don’t feel sorry saying no, just do it in a graceful way and you’ll be guilt-free.
Pic of the Week
Notice anything out of place? Maybe like a giant tree brand sticking vertical out of the roof of one of my properties. After a giant snowstorm this weekend in Lake Tahoe, I got a message from a guest at one of my hotels that a tree brand was inside their unit. “A what?” There’s no way. Well, they weren’t lying. A 200lb, 25-foot tree branch broke off a tree during the storm due to high winds and heavy amounts of snow build up and cut through the roof after dropping 30 yards down. It perfectly sliced through two thick layers of dry plywood and drywall into their unit causing quite the scare and a lot of added stress to kick off the morning. There’s never a dull day in real estate!
Something I’m Enjoying:
Marco Polo App - I’ve had a group of 7 guys that have met for 8 years straight on a weekly basis to review our goals and hold each other accountable to living our best lives. This app has been an awesome tool that allows us to video chat and do daily “check ins” on things like health, business commitments, family activities and other fun adventures that we can physically prove we have done by documenting through this app. There’s a free version and pro version. Whether its an accountability group, a work team, or for your family, Marco Polo is a fun tool to use to document your journey.
Onward and upward,