Freedom Through Passive Income

Ep 267 - Coffee Talk III - Get Rich Slow VS Get Rich Quick

September 24, 2022 Flip & Dani Robison Season 1 Episode 267
Freedom Through Passive Income
Ep 267 - Coffee Talk III - Get Rich Slow VS Get Rich Quick
Show Notes Transcript Chapter Markers

In this episode of our Coffee Talk. We will share our thoughts when it comes to getting rich slowly vs getting rich quickly in real estate. And we are going to share what factors add confidence to viewers who are just entering into real estate investing.

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We're not afraid of fear, we attack it head on. But we see it every day, whether it's this or the other. Fear is never the same every day but the fear will still be there. So just get comfortable with it. We would say get comfortable with it. Every step is kind of scary but it's okay when you're surrounded by people like us. Overcoming fear requires grit, hard work and a desire to reach your goals.  Your fear can keep you three feet from the gold and you should never quit or you might find yourself back where you started. For us, we used this idea of having to begin again as our motivation to keep digging and never quit.  For you, we are here as a resource so you don’t have to make our mistakes.  If you need help or have questions, reach out to us. We could not have become successful with others to whom we could ask questions and we are here to help you! Remember that the biggest fear is one we all share, “You know you don’t know everything.” 


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Hey everybody! Flip and Dani here and our special guest, Ben, who seems to be the interviewer, we are interviewees. But welcome to another episode of our podcast and our podcast is called Freedom Through Passive Income. That's right, and welcome to Coffee Talk. This is if you had us out for coffee or like I said, adult beverages, you're gonna get way more out of us just letting you know. But what would you ask us? And so Ben's been asking us questions and so this is the fourth episode of.. quatro, quatro, of coffee talk. Take it away.

Today, let's talk about Fear. How do you experience it? Fear. Daily. Hahaha! Daily doses? Yes. I don't know. I don't know how else to answer that question. I mean, it's, but we look at it and we attack it. It's not a, we're not afraid of it. We're not afraid of fear. And I'm just trying to think there was a oh, gosh, it's a Navy SEAL thing. Something is fear just leaving your body like sweat or something. I can't remember. But no, we attack it head on. But we see it every day, whether it's this or the other. Fear is never the same every day. You know, it's something different. Today, it could be this. Tomorrow, it could be this. 

Is there some examples of how it changes? Well, just so the 56 units in that situation, everyday was a different fear. Because we'd wake up going, what's gonna go wrong today? What could possibly go wrong? And then we wake up and find something new that we never even thought of. You know, so it's, that's what I think. Yeah, I think I don't think you ever get out of fear. I think everybody experiences it, to some degree, personally, professionally. Because many times it's fear of the unknown, you don't know what's going to happen. And to get past it, it's the grit of knowing that you can find your way through maybe because you're confident in you. Maybe it's because you're confident in the people that you've surrounded yourself with. So that when something happens, you can go to somebody that's experienced it before and be able to get past it. But I don't believe we're ever going to be in a stage of life where fear doesn't exist. Even at the stage that we're at right now I'm still feel fearful about the future, you know, and how long are we going to live? And are businesses going to continue to succeed as well as they have succeeded? Are we going to make a big mistake? We do everything in our power not to do any of those things, right? But the fear of the unknown is just that. Fear of the unknown. I always talk about, you know, we were talking about how we never give up right? And we always talk about the three feet from gold. And that's why we never give up. The three feet between you and the goal, that's fear. But we just don't give up. We just keep going to get to where we need to get to.

Where does that come from? The grit? That's a great question. I don't even know for me what it was, I will say that I was raised by parents that are incredibly positive and always said, you can do anything that you want. And maybe that message was sent to me so very often, I just believed it. My parents said it's true so it must be true. There must be something special about me. And they would use words like that, "there's something very special about you." And you think that maybe you're different. And when you see somebody else fail, you wonder, am I the same as them? My parents say I'm special. And I don't know that my parents were even intentional about it. But I just lived in a very positive environment and they pushed me to do absolutely anything they wanted. Or sorry, anything I wanted. And they never once had any doubt. So why would I doubt if they didn't? They know better than me. 

I think my situation was different. Because I was never told I can be anything that I wanted. It was, "good you can do whatever you want." But then it became, you know, because living and being raised as a musician, you know, it was always we live gig to gig, you know, and that's how it was. But then the light bulb turned on when we went into, when we started on cruise ships we're our auctioneers same as you. And we realized, okay, if we work this hard, we're gonna make this much. If we work this hard, we're gonna make this much. If we work our arses off, we're gonna make this much and be really super happy. And then when we got on, you know, on land as I quote, you know, even when we became real estate agents and then real estate investors, we knew that if we worked our arses off, we would make more money than if we just have arsed it, you know, then you're gonna make as much as you work, you know. And that's been something that I know ever since we started, especially starting in real estate, we really turned that on. We did that when we were art auctioneers on cruise ships, because we had that, we affected our income. And when we went into real estate, we really knew we were going to affect our income. And so we knew that if we worked our butts off that will, that's just gonna show at the end of the day. Yeah. 

And you know, there's that saying, and correct me, I get sayings wrong all the time. But there's something, there's some type of quote that says, like, if you don't keep on going, ultimately, you're gonna land back where you started and you're gonna have to start all over again, right? And who would, like, who wants the pain of starting over again. So even when there's tough times, it's that idea of, I don't want to go back there that's like starting all over. I can't do that again. It took so much work to get here. I don't want to go back there. That means I have to push through here. And so it forces you to go, this is bigger, a bigger obstacle than me just getting through today, or this next week. And I think that's something I think about all the time. And again, I don't remember the quote. Well, it's something like if you quit tomorrow, you're gonna be in the same place you are today. Yeah, maybe. Something like that. I have no idea what it is. But I think it's a mindset trick. 

Well, I remember an early conversation we had when you were training, my wife and I on the cruise ships, about selling art. And you, I was like, Well, how did you guys make this switch from music over into art auctioning? And you're like, well, we just listened, we asked questions, we, you know, really went to the top performers and learned from them. And when you created your real estate company, that was one of the first things that came to my mind was you did the same thing again, you know. You went into the top performers within the field, you learned, you're reproducing it. 

So if we take that to the viewers, what is it that they can do to outwork, you know? It's like one of the secrets you had is you're gonna outwork other art auctioneers as far as learning. You are going to out learn other, you know, just people out there winging it. You're going straight to the top people. Would it be fair to say that for the viewers, especially those that are just getting into real estate investing, or they've been doing something in another area, like, for instance, turnkey, and now they're wanting to go into funds or to syndication. If they out learn others, if they just really do what they can right now, which is the podcast, it's the books, it's the, you know, all the things that we do to help educate? Is that going to give them that confidence, the education, the ability to move forward in their circle of utilizing us as their mastermind group and us doing that? What would you say to that?  I would say, absolutely, yes. And I say that because it's happened. You know, people have said, Hey, I've watched you this, and this, and this. And the more I've learned and the more I've immersed myself into what you're doing, or I've come to your office, or I've come to your event. Like I know what you do, I understand you, I trust you. I've asked you all the questions I needed to, you're available to jump on the phone with me. They do it like actively all the time. And I think that's our current investor base. If somebody is investing with us right now, they did exactly what you said. So we see it happen every single day. And I think that's really again, step one, which we talked about in another episode.

So we're talking about fear here. Let's close with this. If a person is still learning about this, they're still dealing with these feelings of fearfulness everyday that you've discussed. What would you say to them? To help them just take the next step?  I'm going to say jump on the phone with you. Because that's what people do. The number one, that's what I would do, right? And so I always apply, what would I do in this seat? And what do we do every single time? We go find somebody that knows more than we do and we go talk to them. And we find another person that knows more than we do and we go talk to them. And we listen to things and we start getting different perspectives to say, I want to know the questions that I should be asking. And the number one most powerful question that you can ask men when you're on the phone is, what should I have asked that I didn't? Because people, like that's when I know you have done a lot of research because you knew that you don't know everything. And that's probably the one, the biggest fear of not knowing what you don't know. And therefore you think, did I miss something? And when you ask somebody as knowledgeable as Ben, then that's when you're going to get the answers. Well, let me tell you, this is something that people ask all the time and you didn't ask and then they go, ah! And the light turns on. And they suddenly feel and I do this all the time, I suddenly feel I feel like I've wrapped my head around this topic. And that's where the fear leaves and the confidence begins.

Excellent. But the fear will still be there. So just get comfortable with it. Yeah, I would say get comfortable with it. Yeah. That's right. Every step is kind of scary, but it's okay when you're surrounded by people like us. And you have a good support group. That's right.

Well, we hope you enjoyed this episode. Again, make sure you head on over to our website, www.FreedomCapitalInvestments.com to join the Investor Club. And make sure you're checking us out on all those social media platforms. I'm not gonna list them because half of them don't exist anymore. Hahaha!

But we like to end all of our episodes with Invest Smart, Live Happy. Bye Everybody!


Nothing on this show should be considered specific, personal, or professional advice. Please consult an appropriate, tax, legal, real estate, financial, or business professional for individualized advice. Opinions and information in the show are not guaranteed. All investment strategies have the potential for profit or loss.


Transcribed by https://otter.ai





Intro
Welcome to our Podcast!
We talked about Coffee Talk III - Get Rich Slow VS Get Rich Quick
What do you mean by getting rich slowly?
That applies to FCI
Does it add confidence to people who are new in real estate
How does that change your mindset?
Is there a level of control associated with the two?
Join our Freedom Investor Club
Make sure you’re checking us out on our social media. Link is in the description
A motto we live by... Invest Smart. Live Happy.
Disclaimer