If you want to be an investor, you got to first start by learning how to think
like one and today, Steven Miller, myself, we're going to walk you through exactly how
to do that.
If you want to be a successful investor then you need to
first know how to think like an investor and that's what we're going to do today is,
Steven's going to talk to us about the 5 steps of thinking like an investor. Are
you concentrating? - Yeah, I'm thinking like an investor. - Okay, it's not that hard. Steven,
I think I don't think you know the five things are. So we're going to talk about five
very specific components of the investor mindset and you got to understand that
in any level of success, it's 90% psychology and it's 10% strategy
and most people do it the other way around, they're thinking this strategy is
going to win me if I just focus on the strategy and the reality is, mindset
ultimately determines whether we pass or fail, whether we win or
succeed at just about anything that we do so you're going to find that we're going to
talk about here's more of a mentality in the psychology with this mindset and
that brings us up to the very first point. - The first one is be a problem
solver. Now I know this might seem simple, easy to understand but the reality for
most people when they get in they get started and investing is they face
problems and they don't understand how to how to deal with it mentally, right.
They break down, they get scared, they go into scarcity and that is a
surefire recipe for failure in investing and so the first thing is
become a problem solver. When things come up, it's not a matter of if it's going to
happen because in real estate, it will so when it comes up, just choose into
finding a proper solution. If that's your mental state, if that's the way that you
attack life, then every time something shows itself, you're already going to be
looking for a solution. Maybe the solution will already be at your
fingertips. - So let's talk about the muscular mind because Steven is really
diving in on that right now. If we do a deep dive, you got to understand that
your brain, if you don't train it, then you have a weak muscle. You go to the gym
intentionally failing on your muscles so that you can grow it and part of
becoming a problem solver is understanding that a mentally strong
person find solutions and a mentally weak person
finds problems. For someone that doesn't know how to manage their state,
they've got this weakness that's exhibiting because
they don't know how to solve the problem, they don't know how to find what they're
looking for and ultimately, people that have low energy and bring on
that negative energy, they're not going to succeed so you've got to learn how to
actually execute on your emotional state and what that does is
there's this positivity, this positivity that says it's out there and I find a
way and it's available and that positivity that is often needed that
without it, you're never going to find the solution. The solution's out there, you got
to believe that exists and you've got to be a positive enough person to realize,
okay, I can face the facts and the negativity or what's not going right but
I got to go out there and it's up to me to make that happen.
Becoming a problem solver, that's a mindset. - It's a discipline and I
think that's what you're getting at right here is, it takes discipline and
this is something that you've got to practice over and over and over again.
Chances are, if you're just starting off, you're not going to face
your very first problem be like, yes, this is fantastic yet if you will be
conscious of who you are, if you be conscious of your surroundings and of
your situation then when the problem comes up, although you may go down that
this problem and you may start thinking of all the bad things that
could happen, you can stop yourself and again, this takes discipline, this takes
doing again and again and again and at a certain point, you get to the point, you
get to the place where you do get excited, when the
prom arises, you actually will create a feeling of excitement and joy that that
problems there, that excitement and joy will then allow you to see things that
most people won't. - And the only way that you have that in reserve is if you've
been practicing, you're practicing and disciplining that positivity, you're
training your mind to be good with it. Okay, so the second thing that you need
to have to develop the investor mindset is you need to learn how to be objective
because you're going to be reviewing numbers and information and if you're
allowing yourself to get emotionally off the rails excited about an opportunity
or owning a house and I can't be the partner and all of a sudden, - I did that
for my first house by the way. - I've done that on my tenth house and so
that when you're not objective and actually looking at the numbers, what we
do is we start imposing our positivity connection work against us,
our positivity can impose a bias over an actual problem that needs to be looked
at and the problem isn't the negative, the problem is just something
to be addressed and then solved and so learning how to be objective means I'm
looking at a deal and can I really review all the numbers and separate the
story from the numbers because your emotion will think in terms of a story
and you're going to build this, I'm going to do this project and then it's going to make
this money and it's going to have this cash flow is going to do this thing that's going to
catapult my success, there's a lead in my partner's and all these and you've created
a story and just pause for a moment. It's good to be motivated, just don't allow
the motivation to blind reality. Some objectivity says, hey, this deal 90%
of it looks good but the cash flow analysis shows that we've got weak cash
flow. That's concerning, what can we do about that? How do we mitigate that? How
do we plan for that as opposed to, I'm sure it'll all work out,
I'm sure it will work out become objective and look at the numbers
objectively. - Yeah, the third one here is to plan and you know, any good investor
is going to set forth a plan in the beginning as a matter of fact, anybody
that wants financial freedom at any point in their lives, it's only going to get
there if they have a plan in place and this is something that Kris and I have been
offering for years is, giving people an opportunity to see what their plan
could look like based on what we do and based on what they have available or
what they can do as well and so having a plan is is what real investors do. If you
want to be a real investor then create a plan, identify it where your
assets are, identify maybe where some of your weaknesses are and then put those
things together, start tackling some of those weaknesses, start using those
assets appropriately in a proper thought-out consecutive plan that allows
you to take specific steps and if you'll do that with a plan in place, your
investments are going to go so much better for you. - You know, if you don't have a
plan and you haven't prepared one then use it the default is fear and fear
comes in when there's information that we feel like we should know that we
don't and so the moment we feel like we need access to this information it's
unavailable, we default to fear. A plan helps us instead of defaulting to fear,
we're now defaulting to a plan. Oh, we've thought about this, we've talked
about this, the plan has been created, I have something that I can go and default back
on that has useful information for me. Now Steven and I, if you're
surfing this channel a lot and hopefully you're a subscriber and you've rung the
bell and you know about all of our videos coming up then you probably know
that we have multiple plans, we've got our lease option plan, we've got our
partnering plan, we've got our what do you do if you have money plan, there's so
many ways to invest successfully in real estate and having that plan is really
paramount so that you as the investor have a direction, you also know what to
say no to, that's what a plan does, is it frees you up to say no to this and know
exactly what to say yes to so when someone calls me up and says, "Kris, I got
an amazing deal, here are the numbers, what do you think?" The first filter is is
that in my plan and if it's a yes, alright, let's sit down and look at it. If
it's not my plan, hey, thanks for approaching me, it's not something I'm
interested in right now. I'm creating a vacuum in my life by saying no to the
wrong things, I'm opening up opportunity for what? - The right thing. - For the right
things okay. So you want to have a plan. - Okay, so the fourth here is state
management. Now we already kind of touched on this just a little bit but
maybe we could dive down into what state management really means. - Okay, every
single morning, I go through a specific routine. I know you do too but my morning
routine is where I've actually written my plan down, I know what my goals are,
I know what the outcomes are that I'm producing, I know what's going to be
stretching me, I know what my goals are for my family, my life, me, my children, my
health, I've got all of it contained in a document, it's a living document because
I edit it a little bit everyday and I will take 10 minutes everyday and just
focus on this plan and what I'm doing is, I'm training my emotional state because
during the day, a problem is going to come up and I'll need that reservoir of
conviction, I'll need that reservoir of certainty so just for a moment,
I want to go where maybe we weren't planning on it, Steven, if that's okay.
Understand just a little bit about the way the mind works,
whatever is firing neurologically is wiring, what fires together wires
together and so the brain cannot tell the difference between the subconscious
thought and a conscious thought, it can't tell the difference between past, present,
future, it also can't tell the difference between what hasn't hasn't happened. For
example, you ever woken up from a night terror or a nightmare you're like, you
woke up and you're relieved like, it's not real,
that's how powerful your mind is, you can get your mind to believe anything and in
our quantum world of physics, I actually spent time in the morning
envisioning the results that I have a year from now, I envision them, I
celebrate them, I receive them with gratitude - Write this down. - and what
I specifically do is, I manufacture my emotions. I will step into joy, I'll do
something to trigger happiness. I'll do something to go into celebration of
praise or gratitude and I'm picking these energy states associating them and
identifying with what I want and like this morning, my wife, it was a little
awkward right, like, she had her sister come in from working out in our basement
downstairs and often they just walk up in her bedroom and I had already been to
the gym and I was only wearing like my workout shirts, my shirt was off and I
had the music going right now and I was just totally jamming in the space, I had
my phone out, I was going through my document and I was just feeling it and
when my wife walked in, I was so glad my sister-in-law didn't walk in because
that would have been a really awkward moment but you know my wife, she gets
that, she sees that, she experiences it, she'll even do this with me and
it's a daily pattern that I do because if I can master this muscle, I don't just
go to the gym, what values are building a muscle, well if I need to lift something
heavy I can or maybe there's a level of fitness and strength that I admire or
want to have so that I feel confident and capable but the brain is the most
important muscle, the real estate between your ears, this is the one that needs
more training than anything because without it, it's going to do 60,000 thoughts
today and if you're not directing it, if you're not directing the emotions then
you are weak and you are pathetic and you will succumb to the circumstances of
the problems in your world but you can rise above them if you train this muscle
so managing that emotional state, that state management, for me it's a routine I
do it every morning and tell you what, I mean, by the time I'm done, I've already
convinced my brain that everything that I'm working towards has already happened
and I'm just living off of the amazing juice of that and you know what it does,
it powers me through the day, it feels really good so that's not just
an investor mindset, that little bonus piece is just a success mindset, it's
just being conscious and taking control of your life.
- Yeah, the fifth and final one here for investor mindset, improving your investor
mindset is is execution and how often do you set certain goals in motion or do
you make certain night, you know, you say certain things that you're going to do
and then you just fall short on the execution and I think that happens to
most people. True investors, real investors, people that have that
successful or that investor mindset or individuals that execute other things
that they say they're going to do. The part of this is about integrity. If I
could go deeper here for just a moment, this is about being an integrity with
yourself. When you tell yourself you're going to do something, you follow through
and you execute. When you set a goal, you follow through and you execute and so
often we fall short or we allow ourselves to lie to ourselves and if you
do that over a period of time then you're creating more of
more and more of what you don't want which is the lack of fulfillment on the
thing those things that you were going after in the first place so a real
investor, someone who has the investor mindset is someone who's going to make
that goal and then execute on that goal. - So it may be 90% psychology and 10%
strategy but it is 100% execution. Write this down, execution is everything.
If you want to know why there's so few winners but lottery winners in the
real estate game like us is because we are executors, it's that will actually
make it happen. It's good to have good intentions but so many intentions fall
on deaf ears and deaf movement and deaf activities and so instead, what Steven
is sharing is so important is, you got to rise up and take action for the
things that you say you're going to do. Now for me what that looks like, I've
been talking a little bit about my personal power. I mean, yeah, I
know you go to the gym to workout in the morning so I train my body, I train my
brain but then what I'm also going to do with getting my training in is I'm also
going to figure out before my day starts like, what am I doing today and
so, everyday starts with a list. I've actually already got a list for tomorrow
and the next day in the day after and I'll usually keep my schedule when I can
very open and the reason why is because I know that the things that need to
happen need time and I plan for them so that I can execute them rather than
ending the day and this is the most dangerous thing you can do tomorrow.
I got it tomorrow. The moment you create a pattern of tomorrow, you'll be surprised
how nearly everything falls into it. - I have to do this and I shouldn't probably
but this is going to be in German.
*Speaks in German*
and we have this similar, that's a saying
in German that basically says, "Tomorrow tomorrow just not today, say all of the
lazy people." In other words, don't put off till tomorrow what you can do today is
really we're talking about right that execution make sure that you are getting
in there and you are doing it now, don't put it off, don't procrastinate. - Bottom line is,
when a really good deal comes along, it's here in this moment and if it really is
a good deal, you'll know it because there's a good chance at tomorrow it
won't be there, it's gone. So friends, these are our 5 must's for what you do
to build your own personal character and develop an investor mindset that will
allow you to win over, over and over again. And that, my friends, is how you
think like an investor and I want to tell you, that's just the beginning if
you want to do the advanced accelerated course, check out the link here in the
top right corner and learn about how you can get live with me for three days. I've
got an event coming up and at that event you can spend three days really doing a
deep dive into the true psychology of a multi multi multi millionaire and I'm
going to tell you right now, it's going to be 3 incredible days that are so
impactful, you will call them life-changing because that's my
guarantee. If you got one of my discounted tickets and you're not
satisfied even after just the first day, I'll just give your money back. I'm a little
cool like that but I'm also really confident and what we're capable to do
if we can spend a little bit of time under your hood helping you figure out
how to think and become an ultra successful investor and a successful
human being.