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MINDSET & MONEY | SEASONS – REASONS TO ADJUST

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In a COVID-19 affected market, find out why taking the time to adjust is more important now than ever.

Today, listen in as host Mike Ayala breaks down why this fifth and final key in the freedom formula is something you’ll want to make sure you and those along for the journey are on board with. Hear what you can do to adapt and start adjusting for life and investing for freedom in the wake of a pandemic.

“It’s a great time to just accept the fact that you’re going to have to adjust. Lay down some of those preconceived ideas, lay down some of those goals you had that you know are no longer realistic at this point in time. Just go ahead, give yourself permission. Adjust and just start the process all over again.” -Mike Ayala

HIGHLIGHTS:

  • [00:01] Intro
  • [00:32] The 5th key: Adjust
  • [01:40] Accepting change
  • [03:33] What this period means for real estate investing
  • [05:09] Giving yourself permission
  • [06:04] Outro

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FULL TRANSCRIPTION:

[Intro]

Are you looking for freedom? Freedom from the daily grind and hustle, or just finding a way to live the life you always wanted. Then join us on the investing for freedom podcast. Our host, mike Ayala will help you discover new ways to find freedom with tips, insights, and interviews. You’ll learn the exact systems he’s used to travel the world and live his best life. True success and happiness are all about freedom. And here’s your roadmap on how to find freedom on your own terms. Welcome to the investing for freedom podcast. Here’s your host, mike Ayala.

Today we’re going to talk about the fifth part of the five keys to freedom, which is adjust. The five keys to freedom. What do you really want? Why do you want it? What are you going to do to get it, measure results, and then adjust. A lot of times we get into conversations about the adjusting part and it’s really just, I understand that we have goals that we’ve set, and we need to see our goals through, and we need to stay true to our commitments. So why adjust? Why do we put adjust in there? Well, several reasons. The first part is what do you really want? And the reason why I emphasize really is because so many times in life what we think we actually wanted isn’t what we wanted. And I’ve talked about this before, but again, the thing I really want to key in on is the adjust part. Sometimes outside forces dictate our need to adjust. Sometimes what we really wanted dictates needing to adjust. Sometimes we just grow and then sometimes outside forces like Covid-19, something like that just come out of nowhere and they force you to adjust.

And the reason why I really want to talk about this today and the thing that I think is so important about adjusting, is just accepting it, number one, that something has changed. Whether it’s your desire to change, you’ve changed the goal, just being okay with that. A lot of times we’re so goal focused, we’re so goal oriented that even though we know we want to change a goal, it’s your goal, change it. As long as you accept it, you acknowledge it, you move on, you start the cycle over again. The reason why you’re adjusting is because what you really wanted changed or the why behind what you wanted changed. The outside forces that I was talking about, maybe somebody changed that for you. Maybe you had a goal of being the top doctor at a certain the hospital and then for whatever reason they go a different direction, or you don’t fit the value. Somebody else changed that goal for you. There’s no way you can be a top doctor at that certain place if you no longer work there. Again, maybe you had a plan to acquire 10 properties and you are going to finance all those with Fannie Mae and Freddie Mac loans. The financial markets dictated that you weren’t going to be able to on that. You have to be able to adjust. You got to get okay with that.

We’re in a time of adjustment right now and it’s okay to adjust. Whether it’s you’re just changing your goals because you want to or whether it’s because of outside forces dictating that for you.  We’re all having to adjust right now. You know at four peaks we had a pretty big acquisition strategy this year in 2020. We had a certain methodology behind how we were going to achieve all that. Well, things have really shut down. I mean, I’m not a seller right now and I’m not a buyer. We’re just holding, we’re waiting to see what’s going to happen out there. But the one I think I can tell you, if any of you guys are interested in as we go through this period of adjustment, if you’ve been thinking about getting into real estate investing,  whether that’s passive or active, I do believe it’s going to be a good time to do it. Should you be buying today? I wouldn’t necessarily be buying today. Unless you’ve got an inside track on some amazing deals and you know the seller pretty well because you don’t put a lot of time and energy and effort into closing something and you need to make sure that you’re going to be able to work through extensions at this point in time, you’re going to be able to work through creative financing options with that seller. So is it a time to buy? I mean, yeah, there’s always opportunity to buy, but  generally speaking, if you’re just getting into real estate investing, I don’t think it’s probably the best time, but what I do think is the best time right now and part of the adjustment, determining what you really want.

If you’re saying to yourself, hey, I want to buy a single-family property in the next 12 months just start looking, it’s just time to start really creating that plan. What do you really want? I want to buy a rental. Why do you want it? Because I want a $100 a month of passive cashflow. Okay. What are you going to do to get it? I’m going to start analyzing a hundred deals every week. I’m going to sign up for a coaching program so I can understand how to analyze deals. I’m going to get a couple of mentors. I know some friends that have been investing in real estate for a while. I’m going to reach out to them or the other side of it, you could go passive. They’re just going to be so many passive investment opportunities. That’s a big part of our business model over the last years is just teaming up with passive investors. So a really great time to adjust right now, whether it’s because you’re just changing what you want or whether it’s because outside forces or pushing us to change, which is the case for a lot of us right now.  It’s a great time to just accept the fact that you’re going to have to adjust. Lay down some of those preconceived ideas. Lay down some of those goals you had that you know are no longer realistic at this point in time. Just go ahead, give yourself permission, adjust and start the process all over. What do you really want? Why do you want it? What are you going to do to get it? Measure results adjust along the way.

By the way, if you need help with the measuring the results part of that, I have a document that I could send out to you, just email team@investingforfreedom.co.

So go out there and give yourself permission to adjust and get that whole process going. What do you really want? Why do you want it? What are you going to do to get it? Measure results adjust along the way. Stay strong out there, stay focused and have a great day.

[Outro]

If you found value in this episode and you know someone who’s wanting to start or move further along in their journey toward investing for freedom, I would be forever grateful if you would share this show with them and help me get this message out to more listeners. Also, if you enjoy what you’ve heard, I would appreciate it if you’d take 30 seconds and leave me a five-star review and share this with your friends and until the next episode, cheers to moving further along in your journey of investing for freedom.

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