Would you trust a computer more than your own instinct and research when it comes to choosing a real estate investment? More on that later. Jason Hartman discusses this topic and more when he invites Dr. Bob Wright to episode #320 of The Creating Wealth Show. Wright is the co-author of Transformed! The Science of Spectacular Living and Beyond, as well as Time Management: Business with a Purpose.
More About the Doctor
Dr. Wright discusses identifying inner yearnings, becoming more engaged and more aware of our programming (limitations) and changing them. He explains the difference between learning and growing and how to transform our lives by rebuilding neuro pathways in the brain. He also defines the three types of happiness – hedonic, engaged and meaningful – and how to create an intimate relationship with our fears in order to transform. Wright is a highly successful entrepreneur, world-class executive coach, and dynamic corporate consultant.
Revestor.com Wants to Help in Choosing a Real Estate Investment
There are plenty of monolithic websites out there that specialize in real estate. You’ve probably heard of Zillow, Trulia, etc. But there’s a new kid on the block that goes by the name Revestor.com. Revestor is a little different than the rest in that it scans the country for potential deals and recommends them to you ranked by the highest potential return. Think of it as a real estate search engine.
Taking Humans Out of the Equation
As owner of a successful real estate network, Platinum Properties Investor Network(PPIN), making income property investment recommendations is something Jason knows a little about. After reading an article, he decided to take Revestor for a test drive, and found himself less than overwhelmed. The problem is that the thing relies entirely on computers (a process called auto-valuation).
Proving the dangers of some recommendation services, Revestor.com suggested Jason plop down $5,500 on a house built in 1925 and essentially situated in an Indianapolis crack neighborhood. It estimated this tiny, moribund property would rent for $1,000 monthly and generate a $908 monthly cash flow and 4,000% ROI. If you think any of these numbers come within a parsec of reality, you may be smoking crack.
Invest in Reality
Even worse, assume everything the computer predicted magically fell into place, if you were the investor silly enough to buy it. A quick tour of the area would illustrate that the chances of collecting rent would be VERY low. You probably should only take cash and go in packing heat when you collect. The big difference between the Revestor recommendation service and PPIN is that Jason would never recommend a property until his team had put boots on the ground and thoroughly researched the house in question and the surrounding local area.
Many PPIN properties routinely generate 20% to 40% ROI. To proclaim a number like 4,000% is about ridiculous as it gets. Have fun playing around on Revestor.com if you must but don’t make the mistake of considering the resulting recommendations as anything serious. When you take the human element of judgment out of this equation, you’re asking for trouble.
Welcoming Dr. Wright
Anyone out there who has reached the rare air where they feel their life is spectacular, stop reading. You don’t need Dr. Wright’s tips. For the rest of us, life could range from a little better to a whole lot better. The trick is how do you do it? How do you transform yourself for the better?
The Hardest Thing to Do is Overcome Our Programming
Scanning the environment for opportunity, both in our personal and professional lives, is a habit so ingrained you probably don’t think about it. We’re all experts. What you might be missing out on is the insight to scan your inner self, identify your secret yearning, and take steps to strategically develop yourself. The barrier in almost every case is the neurons that have been programmed from childhood.
Fired Together and Wired Together
We react a certain way in a certain situation and that will never change unless we take proactive steps to do so. Make no mistake. The original mental wiring we received early in life created the type of response we give to the world. This response coded in our skulls is termed our matrix, by Dr. Wright. It’s a map that determines where neural energy flows, defining actions and responses. This is our subconscious belief system. It is a formidable foe to overcome should you choose to do so. Chances are you will not be able to transform your life unless you can re-wire the matrix.
Busting the Matrix
The sort of sad truth is that, whether you win the lottery or become a paraplegic, your original matrix programming determines that you will be essentially the same person 12 months later. The first step in undoing or re-wiring the matrix is to have the self awareness to realize that you have been programmed. Your mission, should you choose to accept it, is to assault the program, and change it into something you can thrive under.
Facing Fear is the First Step
Fear is debilitating. It holds you back from attaining the kind of life you dream about. To successfully transform your life means you will have to figure out what you’re afraid of and how to overcome it. The natural instinct is to avoid fear. We all do it and that’s why so many of us fail to transform our lives. Wright’s suggestion is that we “develop an intimate relationship” with fear. Transformers learn to live with the discomfort. That’s how they accomplish great things.
Know Your Social Emotional Intelligence!
Social Emotional Intelligence (SEI) is the capacity to know what’s going on inside yourself and when to ratchet responses up or down. Wright claims that 85% of successful leadership relies on a high SEI. It causes you to challenge yourself, learn, grow, and find things you didn’t know were inside you.
The Bottom Line
If you’re interested in learning more about Dr. Bob Wright, his website is www.BobWright.com. (Image: Flickr | MarkMoz12)
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