Tag Archives: change your life
For those of you that aren’t familiar with Mark Homer, he is a very successful property investor based in the UK. Over the past decade or so him and his partner, Rob Moore, have made their fortune buying, selling, refurbishing and renting property of all kinds.
Mark’s book “Low Cost High Life” details his childhood experiences that gave him the mindset for success, the lessons learned along the way and the advice for anyone else to replicate.
These are the lessons I gleaned from it, some I already learned from other authors but they bare repeating as that is how we learn best – repetition.
1. Always make sure you get more value than you pay for. IE: Don’t pay market price for investments if possible – reduce the risk
2. Learn to balance creating money and time equally in order to enjoy the independence true wealth brings.
3. Do not spend earned income on luxuries – it should only go in to either; living, saving or investing. Buy luxuries from passive income.
4. Understand the business you’re in as much as possible, it helps you remain passionate and spot opportunities. Temper your emotional urges with this knowledge to make rational decisions.
5. Get good at local property before considering overseas property. The laws and best practice may well be very different.
6. Networking events grow your network and that can be your best route to JVs, finance, expertise and latest investor trends.
7. Model those you admire that have been successful and made the mistakes. When walking through a mine field it’s best to follow someone else’s footsteps.
8. For maximum productivity stay fit and healthy. This will provide the energy and clarity of thought you need to focus and work effectively.
9. Put systems in place for everything, then manage the systems.
10. Keep 6-12 months operating cash at hand – ALL the time!
11. Invest for cashflow FIRST, and capital growth second.
12. Tap into the market’s perception of value in order to increase your price.
13. Get a PA asap.
Do you ever wonder why you just can’t get certain things done in your life. You know you want to but for some reason you always find something else to do instead.
Watch this short TED Talk – it may just throw some light on Why.
Ever heard of ‘sunk cost fallacy’?
It’s the psychology of continuing with an endeavour even though it may be fruitless simply because you have invested so much time in it already.
Even when we know the outcome will not be satisfying we continue so as not to feel that the time and effort already invested has not been wasted. Yet to add more time and effort is to add to that waste.
Consider today what do you need to stop doing?
Strive to thrive
What this world really needs is more Hope.
Take a moment to listen to the words from this enlightened young man.
Let’s all be the change.
Strive to thrive
Changing your beliefs can be a bit tricky. Our beliefs are in charge of our decisions. If you want to change your decision making process you need to take a good look at your beliefs.
Take some time to consider what influences you are allowing to affect your beliefs. What papers are you reading? What news stations are you watching or listening to? What do your friends and family believe about certain things?
All these have influence over what you believe.
What beliefs do you have that are either the same as or in contradiction to your parents or even grandparents? Many people will reject the beliefs of these authority figures as a form of rebellion. Those beliefs may become ingrained although years later you may actually believe differently. So how do you know? You need to ask delving questions like:
- ‘Why do I believe [xyz]?’ and
- ‘Am I sure that my belief in [xyz] is sound?’ or
- ‘What evidence do I have for believing [xyz]?’
It’s possible to change a belief in an instant, as with many other changes, it’s the getting ready that takes the time.
Strive to thrive
PS: This is page 250 of my book ‘How To Change Your Life One Day At A Time‘ still available from Amazon right here: CLICK HERE FOR PAPERBACK
And Kindle right here: CLICK HERE FOR KINDLE COPY