Just the words “Financial Freedom” conjure up so many images – your Dream Home, a luxury car, tropical vacations, a true life of leisure. Those are the prizes, the toys and joys of true Financial Freedom.
But it’s a sensation too, a literal feeling of Freedom! Free of worries, free of daily pressures, free of time constraints, free of other’s demands — free to just enjoy life! Even just pondering it, doesn’t that feel good? And beyond that, the biggest plus of Financial Freedom for many of us is the ability to give to others, being charitable in spirit and in deed.
We all want Financial Freedom, the life and lifestyle that would bring us. So, let’s look at the 6 Steps to get you there!
1. Define What Financial Freedom Means to You
An exciting life of Financial Freedom may be wonderful to ponder, but let’s get real. How much money do you need to support that lifestyle? Many variables factor into the equation.
- What are your current expenses?
- Who depends on you financially, and for how much?
- How much of a taste for luxury do you have?
- What is the cost of living in your area (what will your Dream Home cost)?
Income & Reserves:
- How much do you need in PASSIVE INCOME to cover all expenses, including luxuries?
- How much do you need in Reserves in case of emergency?
- How much Property Equity would you feel good having?
Let’s look at some numbers. Most of us could feel Financially Free with a monthly Passive Income of $10,000 – $20,000. In the Pretty House world, that means you need to buy or control 20-60 properties (depending on the values in your Farm Area). You can actually pay full price for these homes, buy with no credit and for little or nothing down, and make a positive cash flow on each of $300-$500 per month.
Even if you just buy 1 Pretty House per month, it will only take you 2-6 years to set yourself up for Financial Freedom! It’s like we and Ron LeGrand always say about Pretty Houses, “Set it and forget it!” That’s the real beauty of Passive Income!
As you buy homes to establish your Passive Income Cash Flow, you’ll also be acquiring large “Non-Refundable Option Deposits” from your Lease Purchase Tenant Buyers. This will build your Reserves, along with eventual “Back-End Paydays”. A starting point would be to build one year’s expenses in Reserves, maybe more or less depending on how conservative you are and your individual situation.
Property Equity doesn’t have a big impact on your daily lifestyle, but if you have a lot your heirs will be very grateful. We hope you love your kids, and whatever you do, don’t forget to close every sale as a 1031 Exchange so you NEVER PAY TAXES. (We recently created a powerful report on 1031 Exchanges, let us know if you want a copy.)
2. Determine if Financial Freedom is Really Meant for You
Okay, we know nobody wants to hear that. We live in America, Land of the Free, isn’t Financial Freedom for everyone? Well, while the opportunity is there for everyone, not everyone is there for the opportunity. We hate to say it, but some folks will never be capable of the executive-level thinking and action-taking that’s required to run their own successful business. It’s simply not for everyone.
What percentage of people actually retire with true Financial Freedom? Let’s be extremely generous here and say it’s 5%. Look around the country, you can see it’s less than that.
So, it’s obvious you need to think differently, you can’t just follow the herd. Many folks, nothing against them, they are 9 to 5ers. They crave a stable and predictable job situation. They are most comfortable punching a timeclock, and having a boss tell them what to do. If you are a 9 to 5er, chances are you’ll end up in the 95%+ who do not attain Financial Freedom.
Very few can achieve Financial Freedom through a regular job, or by inventing some new widget, or by winning the lottery. Most who achieve Financial Freedom in America do it by becoming Successful Entrepreneurs. Many of those Successful Entrepreneurs are Real Estate Investors.
Now it’s time to look in the mirror. Do you have what it takes?
6 Key Traits to Achieve Financial Freedom
- Motivation – A strong enough WHY makes anything possible, and helps you conquer every obstacle. Use Visualization (and even a Dream Board) to crystallize and foment your Desires.
- Belief – You must believe in Yourself, your capacity for success, and your Real Estate Investing Trainers.
- Confidence – The more “Certitude” the better, it naturally arises from strong Belief.
- Risk Tolerance – There’s always risk, though very minimal in the Pretty House Business. You simply can’t make progress if you’re too anxious to buy houses and risk making a mistake.
- Imagination – You must be able to see yourself in a new way, and mentally create a “New You!” This “New You” is your application of the Role, “Successful Real Estate Investor ME”! To understand and Define this Role for yourself, just fill out our “Role Definition Chart”.
- Commitment – You must Commit to Your Schedule, and devote the necessary time and positive focus to succeed. You need to live the Role of “Successful Real Estate Investor ME” for 7-10 hours per week, applying the necessary Traits & Skill Sets.
If you possess the 6 Key Traits listed here, then “Congratulations! Financial Freedom is meant for YOU!” So what next?
3. Find a True Path to Financial Freedom
The surest, most proven path to great wealth is Real Estate Investing. It has made the most millionaires in history. Wise folks say, “Buy Real Estate, God’s not making any more land!”
Plus, you have found a very special path with us and Ron LeGrand. We teach strategies that enable you to grow rich through big upfront and back-end paydays, plus Passive Income that leads to long-term wealth. You’re not limited by how much money you have, or how good your credit is. You can buy as many Pretty Houses as you can find, and no bank or anyone else can stop you.
This path will require you to take on a new Role, maybe one you are already playing or have played in the past. It may be a Role you’ve seen others play, and you are eager to make this Role real for you. This is the Role we call “Successful Real Estate Investor ME”.
4. Define the Path, and Define Your Role on it
You need the best Training on how to define and successfully follow the Real Estate Investing Path. You need to define the Action Steps to take, and the Scripts to follow. This is exactly what we do for you in our Wolff-LeGrand “What to Say & What to Do” System (available through Global Publishing).
Once you’ve defined your Path, you must define your Role on it, which is “Successful Real Estate Investor ME”. The more clearly you define that Role, the easier it is to implement it for yourself. We created a truly powerful tool to help you define in detail your new Role, our “Role Definition Chart”. We’ll be happy to send it to you free at your request.
The “Role Definition Chart” clearly lays out the Role’s Schedule, Goals, Plans, Traits, Skill Sets, Tools, Wardrobe, and much more. For example, “Successful Real Estate Investor ME” requires at least a 7-10 hour Schedule per week, and you record the exact times on the Chart. Tools would include our “What to Say & Do” System, and other Training from the Gold Club and Ron. We already covered 6 of the necessary Traits for success, 2 more are being a good Communicator and being Coachable.
Just reviewing your Role Definition Chart for “Successful Real Estate Investor ME” will enable you to achieve the right Mindset. That alone can compel you to take the Action Steps you need to succeed!
5. Commit to the Chosen Path
Once you’ve defined the Path, and your new Role of “Successful Real Estate Investor ME”, you must COMMIT to it. The importance of this Step can’t be overstated. True Commitment is that mystery element that empowers you to break through all obstacles to succeed!
One of the best tips we ever came up with is, “Your Commitment is measured in minutes.” If you’re not putting in your 420-600 minutes per week, then you are not truly Committed. Create your Schedule, Post Your Schedule, and Commit to Your Schedule.
Commit to taking all the Action Steps listed in your Training. Commit to following our Scripts on the phone and at the Deal Meetings. That’s it, Commit!
Commitment Strengthens Belief, Belief Raises Confidence, Confidence Increases Commitment.
6. Devote the Time and Focus Every Day
You are building a Real Estate Investing Business, this is no “get rich quick” scheme. You need to get trained, and you need to get a few key pieces in place (LLC, bank account, business cards, etc.) You need to establish some new Habits, and consistently do what successful Investors do for at least 7-10 hours per week (Closing Calls, Deal Meetings, etc.)
Understand that the world will not always cooperate with your Plans, and may actually take its sweet time before bending to your desires. Even in moments of doubt, you must stay Committed and always follow your Daily Schedule. If you need help with this, you may be eligible for our new F.R.E.E. Mastermind Group, the Freshman Real Estate Entrepreneurs Group (contact Global Publishing for more info). Always keep your Goals & Plans in mind, review them daily. Make Smart Adjustments and Stay Positive!
The results are coming, they may be right around the corner. Expect Success, Stick with the Best Training, and Keep Taking ACTION!
Soon you’ll be enjoying the end result — Your Very Own Financial Freedom!