Today I’m going to do something a little bit different; I’m going to give you some insights into what makes me tick.
Maybe you’ll learn something useful from it, maybe you won’t.
Recently a prospective client asked me:
“Michael now that the candles cost more than your birthday cake why are you still working?”
I know others have wondered:
“Is this guy really financially independent? Does he really have a substantial property portfolio?
And if so why is he sitting here across the table from me wanting to show me how I can become financially independent?”
Some lessons for you
I’d like to answer these questions because there are some instructive lessons for anyone who wants to develop financial independence and particularly if you’d like to do so by growing a multi-million dollar property portfolio.
First the answer to the second question:
Yes I am truly financially independent, having over the years built a very substantial property investment portfolio of residential, commercial, industrial and retail properties.
In my books and at my seminars I talk about the concept of building yourself a “Cash Machine”.
Pam and I truly have a “Cash Machine” that gives us real choices in life.
In fact, we’re just planning our next 6 week end of year holiday!
But I think the biggest lesson will come out of my answer to the question of why I’m still working.
Let me explain with a little story…
I remember reading that Ringo Starr (yes the famous Beatle) was touring America.
He was 74 years old at the time.
He was doing a multi city tour of America, at the age of 74, turning up at one city performing, leaving and then on to the next place.
I repeat he was 74 years old and still on tour.
And Mick Jaggar is doing the same at the age of 75!
I suppose this should be reassuring for me – it suggests that 10 years from now I might still somehow or other be able to get up on the stage and deliver my seminars.
Over the years I’ve worked hard so that I now don’t need to work for financial reasons, but I think I will still enjoy doing it when I’m 74 years old just like Ringo does.
As far as I know, neither Ringo nor Mick Jaggar have any unmet financial needs.
They’re still touring largely because they have nothing better to do.
I think a more constructive comment would be…
They’re still touring because they have nothing else to do for which they have comparable enthusiasm.
I also read that prior to being elected as president Donald Trump was most enthusiastic about deal making and constructing buildings that bare his name.
I understand Trump likes golf and is a pretty good golfer, but it clearly doesn’t give him the same juice as putting deals together.
Why did he now take on politics???
Why they stay at it long after they need to reveals why certain people became so successful at it.
Many top achievers who are successful at what they do and rich because of what they do develop such intense enthusiasm for “it” that not doing “it” is akin to severing an arm.
I guess what I’m trying to say is that what many people don’t seem to understand is the reason so many business people, entrepreneurs and property investors became so successful and rich is from the enthusiasm they had in their job in the first place.
So here is an important lesson for you:
If you’re doing something you don’t have to or won’t quickly develop intense enthusiasm for, the likelihood of you achieving substantial success or becoming rich from it are slim indeed.
This is the main reason why I’m still working.
I still get an intense buzz putting together property deals, putting together training programs, writing my blogs, educating investors and more importantly seeing clients become financially independent and successful.
I spend all day talking about property while drinking coffee and dealing with nice people.
Why wouldn’t I still be working?
And to be honest I am still clearly, unashamedly, intensely enthusiastic about making and multiplying money.
I enjoy passing it on and helping future generations including my children and grandchildren and also contributing significantly to charity.
I am very grateful for what I have and believe it’s my obligation to repay the world and that’s in part why I spend so much time writing and educating.
These activities are clearly the least financially profitable of all that I do, but are the most rewarding.
What about you?
What are you enthusiastic about?
Is it properly investing?
I know for many it’s property renovations or development – creating new or improving old dwellings.
So one of my messages to you today is…
Everybody has the capacity for intense enthusiasm – you just have to find the right outlet for yourself.
Having said that you can’t just find something you’re enthusiastic about and the money will roll in like they suggest in “The Secret”.
That just doesn’t work!
I have found that many metaphysical teachers just talk about finding your passion and they largely ignore how important it is to “monetise” your passion, preferring to let people fantasize that they can make money just by doing things they love.
It’s really not as simple as that is it?
You really must find a passion that provides a service or product that others are prepared and willing to pay for.
For most readers of my blog this will be property and for many it will be property renovations or development.
That’s exactly how I built my, now substantial, property portfolio.
And…once a year I spill my guts about how I did it.
At my annual Property Renovations and Development Workshop I give you the blueprint that I have used for successfully building a multi-million dollar property portfolio through renovations and development.
This is a training event – there is nothing to sell the back of the room- no expensive courses and definitely no properties for sale.
Click here now and get all the details, reserve your spot and join me next month.
If you are serious about finding your passion…
Why not join me for two days in October at Australia’s longest running advanced property workshop.
Maybe now it’s time for you to step up to the big-league and invest like the pros and get started in either property renovations or development.
When you join us:
- You will learn the renovation and development strategies that experienced property experts use to “manufacture” capital growth.
- You will learn how to generate strong rental returns and how to take your property investment to a whole new level.
- You will get a huge manual with all our internal worksheets and spreadsheets.
Click here to learn more about this intense small group workshop where you will be taught by some of the most respected experts in Australia – guaranteed.
Remember this is a training not selling event!
Having successfully run this event for 15 years I have found out what serious property investors wanted in an advanced real estate workshop and in general they wanted the same thing…
- No hype and not the type of information they could get in books or on the Internet.
- They want to learn about real-world advanced property techniques that would boost their wealth creation strategies. The sort of strategies they could not get from the simple seminars from the so-called “gurus”.
- They wanted to come out with the knowledge required to make sensible real estate investments which could lead to the financial security. And…
- They wanted to know more about the advanced techniques of property renovation and development.
If any of this could be of interest to you click here now and find out all about my two-day workshop that I’ll be holding in October, or ring Jo Fitt on 03 9591 8888 let her tell you all about.
I look forward to seeing you there.
Subscribe & don’t miss a single episode of michael yardney’s podcast
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
Need help listening to michael yardney’s podcast from your phone or tablet?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
Prefer to subscribe via email?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.