Christy Tu elaborates on creating a consistent stream of new clients.
Christy Tu breaks down the different types of financial classes as related to getting new clients consistently.
Mike: Welcome back to the FlipNerd.com REI classroom, where experts from across the real estate investing industry teach you quick lessons to take your business to the next level. And now, let’s meet today’s expert host.
Christy: Hey there, this is Christy Tu, your REI Classroom expert. How many of you want to feel confident about your financial decisions that you make today?
Mike: This REI Classroom real estate lesson is sponsored by UglyOpportunities.com.
Christy: Well, you’re not alone. Most of us were never taught how to think and communicate about money. People are typically raised in one to three money environments. Either they have too little money, not enough money, or more than enough money. And there’s actually a breakdown of how we see it in our society. One percent have more than enough, 19% of Americans have enough, and 80% of the population in the US have too little. So each of us has a personal money code already ingrained in our subconscious mind and it’s this code that determines your entire financial life.
So which money code are you? Well, we have the Rockies, we have the Rock n’ Rollers, we have the Rockefellers, and we have the Oprahs. Think about this, what are some of the phrases that you heard about money, success, and rich people when you were growing up? Did one or both of your parents or guardians managed the money well, or did they mismanage money? So these are some questions that you want to have welling up into your mind and taking you back to your childhood.
One exercise that would be great is when you can think back when you were five years old, what is the most triggering memory that you have? That can also help you determine which money code are you. And also, did money come fairly easily in your household or was it always a struggle? This is another question that you can ask yourself. Was money a source of joy in your home? Or was it a source of bitter arguments? You know some other questions to think about too.
Most of us, we tend to be exactly like our parents or a combination of both of our parents in the arena of money. However, some of us will become exactly the opposite of our parents. Right? For example, some of you that know me, I grew up with little money and then I made a lot of money as an adult, investing in real estate.
But then we have, like I mentioned before, our mind is ingrained by our money blueprint. So in the beginning of my making a lot of money in real estate, I just blew up all of my money. Went to Vegas with my husband, Jimmy, and we just blew up all our money. So that’s one mistake that I’d like to not have any other investors make. And that’s the reason why I talk about money and helping you transform your relationship with money.
So Rockies, Rockies tend to think that there’s not enough. So basically, they’re the 80% of the population. The Rock n’ Rollers, they normally think that they have enough. So they’re like the 17% of the population. And then, down here, we have the Rockefellers. That’s the 1% of the population.
The Oprahs are very unique, I’m normally an Oprah because I make a lot of money but I lose a lot of money. Those are the mistakes that I had as an adult. Knowing your money code will help you not make the mistakes that you have already ingrained in your blueprint and also learn how to build other habits. So this is Christy Tu, your REI Classroom expert. Thank you.
Mike: HomeVestors, the “We Buy Ugly Houses” folks, is a franchised system of hundreds of real estate investors that have purchased over 65,000 houses. If you’d like to learn more about the most powerful real estate investing system in existence, whether you’re a pro looking to take your business to the next level or whether you have no experience at all, but a burning passion to be successful in real estate investing, please visit FlipNerd.com/ugly to learn more.
Please note, the views and opinions as expressed by the individuals in this program do not necessarily reflect those of FlipNerd.com or any of its partners, advertisers or affiliates. Please consult professionals before making any investment or tax decisions, as real estate investing can be risky.
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