This lesson is a bit different than what I’ve sent to you previously… and because of that, I think you should pay extra close attention. These ideas can change your life.
You are what you think!
We are taught how to put a value on objects. If I ask you how much a piece of gum costs you would probably say no more than dollar, usually less. Why would you say that?
Because you would have a frame of reference, you have past experience buying gum and you have enough knowledge to know that a stick of gum is not terribly expensive. But everything isn’t so easy to value.
How much is a car worth?
It depends on a lot of things right? What kind of car, what year, how old, what kind of condition, where it has been driven, etc. Only after knowing the necessary information will you have a good idea of what the car is worth, right?
It’s the same with real estate.
The nice thing about valuing objects is that they are concrete… you can add up the physical costs, age, value, use, utility… all that stuff and create a formula for value.
But what about the value of education?
That’s a little harder to quantify, isn’t it?
As a pure business decision, is it worth it to spend a couple hundred thousand dollars on a college education? Most people think so. You can get a higher paying job (in theory) and make more money over your lifetime because you have a degree.
I think that a college education gives you a lot of things that cannot be monetized and I think a college education is a very valuable thing, but if the sole purpose of going to college is to make more money, is it the best use of your investment?
What about buying a franchise? Does it make sense to spend $90,000 to buy a franchise like Mail Boxes, Etc. or Subway or something of that ilk?
If you work in those businesses 60 hours a week, 12 hours a day, you can make $60,000 or $70,000 a year. It looks to me that you just bought yourself a job and I think it’s nuts.
How much is it worth to learn how to become truly wealthy?
How much would you pay to learn how to make a million dollars?
What would be the value of a business SYSTEM that, if implemented as instructed, would make you financially secure for the rest of your life? All you have to do is follow the steps laid out.
I would say it is worth a LOT.
Shut Up And Do What You’re Told
We live in a society where we are accustom to being told how to put a value on things. We base our opinion of value on what we are told. I hear people say, “Now that’s a good job… I wish I had a job like that.” Or I hear, “If you went into that field you would do REALLY well.”
These opinions of value are all based on the experience of the person who is spouting off about them.
We decide if we have a good job based on how others around us are doing.
Personally, I couldn’t honestly say that a job that makes you $300,000 or $400,000 a year is a very good job because I base that opinion on MY income, my experience. On the other hand, Bill Gates probably spends more money on “incidentals” than my entire business makes each year.
I also have a problem with taking a job because it means that you sell your time for dollars. Your employer tells you where to go and when to go there, what to say and who to talk to. I know it sounds dramatic, but as far as I’m concerned, it’s just another form of legalized slavery.
One of my successful students was flying to a seminar on the same flight with me shortly after he quit his $200,000 a year corporate job to become a full time real estate investor. He finally figured out that he had to quit his job… he was actually losing money by using all his time up on the job. And although his investment income exceeded his job income, he was reaching a cap on his investing because his attention was being diverted by the job.
Anyway, he sat next to me on the flight and he turned to me and said, “Joe, this is the first time I’ve been on a plane since I left my job. And the beauty of it is, I’m here because I choose to be, not because I’m being told to be here. Man, do you know how that feels?”
Take Back Control Of Your Life!
Think about it…
Ever since you were little, your time was dictated… your schedule completely laid out for you. In pre-school they tell you when to eat, when to play, when sleep, when to leave, what to say, etc.
Then in junior high, high school and college the same routines, bells, do this, go here, go there, submit these applications, do this. Then you graduate and get a “good” job, but the job turns out to be even worse than school.
I remember in college I was taking a resume writing class. I really did not see the value in writing this resume and I remember hearing my teacher say over and over again that the point of a resume is to get your foot in the door. To get an interview and then hopefully get the job once you got to the interview. I remember we had a whole week in class to put our resume together. Then the day before we were supposed to hand them in, a professional career advisor came into our class to talk to us about job placement and resume skills.
I walked up to her with my resume in hand. I had really put some time and effort into this and I asked her how much money I should start asking for? Her answer left me speechless, she said that if I am LUCKY I could get up to $50,000 a year starting.
I said, “You mean to say that I am trying to CONVINCE somebody to work me like a slave every day, eat up all my time, take away my youth, drain my ambition and suck the entrepreneur spirit from my veins. And on top of that they’re only going to pay me $50,000 a YEAR for it? She thought I had a bad attitude… but I was grateful to her for setting me straight even though it was unintentional.
That was the last resume I ever wrote. I have a difficult time seeing the value in trying to CONVINCE somebody to financially rape me.
The way I see it, the problem is that we are not exposed to actual money making systems. The sad fact is that the brilliant goal of capitalism and the entrepreneur mentality that this country is based upon is never taught in school.
Think about how many times in High School or College somebody walked you through an example of how to make over $100,000 a year working part-time with no employees, no overhead, no bothering your friends and family, no credit and with very little seed money.
When have you ever seen anything like this before?
Best of all, I not only show you how to do it, but how to start right now. You learn by doing, not by spending 4-8 years in theory and then getting started after that.
I know that my programs are not the type of thing that you come across everyday and so it is hard to put a value on it, in fact there are only a few ways to even try to put a value on a money-making system like this.
If you ever watch CNBC or any other financial channels you always hear about different valuing ratios and formulas that people use to value how much a company or business is worth.
Over these past days, I have been showing you how you can easily make over $100,000 a year using my powerful real estate investing system. If you have a business that makes $100,000 a year, how much is worth? If you were to sell it, how much would you sell it for? Would you sell it for $100,000? No because you could make that much if you just ran it for another year.
What about $200,000, would you sell it for $200,000? Well, if it’s a good system, you could just hold on to it, make money from the residual sources that you’ve already set up and delegate the work of the business by paying somebody else to run it. So it wouldn’t make sense at all to sell it for $200,000.
Do you see what needs to happen here? You want an amount for your business when you sell it, that is not easily attainable by you. You could still run it yourself or pay somebody to run it for you and make quite a bit of money. Before you turn around and walk away from an income generator like this, you want to make sure that you get enough money to compensate you for setting it up.
A widely used formula for these types of situations is the 10 year rule. Basically, you take what the company or business will make in the next 10 years and that is what the business is worth. So, if your income generator brings in $100,000 a year… in ten years that would be a million dollars and that is what the business is worth.
So if you make a $100 Grand investing in real estate, your real estate business, a business that you started with little to no money, is now worth a cool million!
What if you just to made $50,000, then your business is worth $500,000 and you have just increased your net worth by half a MILLION dollars.
How much is that worth? What kind of value can you place on the ability to do that?
How much is it worth to become a millionaire?
Only you can answer that question.