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Fixer Jay's Mom & Pop Millionaire Blog
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HOUSING ENTREPRENEURS
There is no greater feeling in the world than to wake up Monday morning knowing you are the boss. No alarm clocks, no time clocks, no two-hour commuter traffic to fight, no nothing that goes with the typical, so-called 8-5 shift. It’s total freedom. The day is yours to do as you please. You may give each hour away or you may earn $100 for each. You can decide because you are the boss. You are free to choose. Success or failure rests solely with you. But then, after all, who would you rather depend on the most? Who would you choose to have in control? I would pick me ever time.
Self-discipline is the crucial issue. You must have it or develop it quickly. It is not an option. You cannot survive without it. Train yourself well and you’ll have no problems. ENTREPRENEURS are the shepherds of the world. They are the leaders. They choose to create for themselves and everyone is better for it. They are not content with 2-week vacations and company paid dental plans. They do not require union negotiators to state their conditions for peace at the plant. ENTREPRENEURS are self-starters. They seize the opportunities of the moment to do what is necessary. Quick evaluations, fast action, and the risk of failure only add to the excitement along the way.
If you have the courage, or just plain guts, to take charge of your life, ENTREPRENEURING offers a lifestyle second to none. It is indeed the ultimate freedom on earth. It’s the difference between the shepherd and sheep.
Working for net worth should be near the top of your goals list after you get started. As you begin to develop some expertise and ring savvy from reading books and going to seminars, suddenly one day a light will flash on and you’ll begin to understand that working for your net worth is far superior than working for some nit wit. All income from wages is ordinary and therefore taxable, which means you’re really working for yourself and your non-working partner, the taxman.
I’ve heard it said that many employees must work the first 2 days of every week just to pay their taxes. It’s very easy and a good deal more productive to work 100% for yourself. Creating and building your personal net worth is a super method for acquiring wealth because you no longer work for ordinary taxable income. The cash you need will come from rents, refinancing, and borrowing against equities in your properties. As you acquire more property, you create more alternatives for tax-free cash.
Your properties end up paying for your car and many other expenses that used to be paid with after tax money you earned at a regular job. The net worth concept allows you to pay expenses from pre-tax money. Don’t look for the gimmick, there is none. It’s simply a better way to play the game since it allows you to end up with all the chips on your side of the table. Can you think of a better place for them?
SUCCESS IS DOING WHAT YOU LIKE TO DO AND MAKING A LIVING AT IT——-
2 Responses to HOUSING ENTREPRENEURS
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ok Jay, you’ve hit the preverbal nail on the head one more time. You & I have been visiting off & on for several years & you are keenly aware of the disabilities that plague me often, if not daily, mainly i’m slooooow to catch on. But, through the time tested patience and understanding that imbodies my mentor and hero, i’ve managed to make it this far, thank you. In the secound paragraph above you speak of discipline. Thats interesting, but thats pretty much it. I do not possess enough, it seems, to move much farther, though it has been very interesting as well as a whole lot of fun to now I must confess (as i’m sure you can already see) that i’m on the verge going up in flames, simply as a result of a lack of disipline in my life. You say things like ” it is something that needs to be developed” ,that is the part that is especially interesting to me as if it is something abtainable. I almost feel like I did 20 or so years ago when I quit smoking for the last time, your words almost give me hope that this thing is still salvageable. Tell me Jay, how do I devolope Disipline? I’m very intreaged to here you aproach. I have no problem seeing the importance of it. sincerily, Gerald
DISCIPLINE must be developed until it becomes a lifestyle. Perfect examples are someone who walks or exercises everyday or 3 times a week. Another is someone who stays on a diet! You must make these goals part of your daily life. They must be done FIRST. You don’t see many people skip a doctor’s appointment. Why? They give it top priority and clear out anything that interfers with it. This is how discipline works.
Basically, you set a goal for yourself – say, buy one property by Sept. 1st, then start now and don’t stop looking till the task is accomplished. Also, don’t wait and start on August 15th. That’s it! Try it, see how it works.
FIXER JAY