Just arrived in Medellin, Colombia on a real estate investing mission. Not only is real estate so inexpensive here, but the days of the drug cartels are over and everyone is so friendly and nice. What a beautiful city (see above foto)!
And speaking of looking at real estate, you’re never going to become wealthy selling real estate.
You do know that right?
Don’t get me wrong. You have can create a great lifestyle for yourself selling real estate as an Epic listing agent, but it is what you do with your money that will dictate how wealthy you will become.
If you make a lot of money listing homes for sale and end up spending all that money, all your commissions, on lifestyle choices, that will not build wealth in the long run.
Unfortunately, I know a lot of listing agents who literally spend everything they make.
So it’s very important to reduce your spending, especially in your business, which is why I advocate low cost prospecting techniques.
That’s what it’s all about, make more money, spend less money and invest in what you know.
That could be real estate like me. Or maybe it’s the stock market. Or antiques. Or bonds. Whatever you know and love, invest in it.
When I first started in real estate, I remember my mentor told me about this and I was very careful to invest my commissions in real estate. I did this because it’s what I know and loved, owning it as an investment.
I now own real estate in 3 states in the U.S. and am looking to diversify into other countries that make sense.
So let your investment goals be at the forefront of your 2018 goals.
Figure how to save and invest for the long term.
Figure how to spend less.
Figure how to make more money (check our the Top Producer Blueprint).
Figure what you life could look like in 10 years.
And for God’s sake, stop spending money on frivolous marketing for your business.