Today’s REI Classroom Lesson
As we’ve seen in professional sports, many times, the game is won in the 2nd half. Gene Guarino explains that this theory makes sense in real life and in business as well.
REI Classroom Summary
No matter where you’re at with your business, there’s still time to think about where you are and where you want to go with it. Think big picture when you ask ‘why’ you’re in this industry and remember, it’s not always the end game, but it’s the journey along the way that matters.
Listen to this REI Classroom Lesson
Real Estate Investing Classroom Show Transcripts:
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.
Gene: Hi, this is Gene, the founder of the Residential Assisted Living Academy and your host for the REI Classroom. What I’m going to be sharing with you today is half time.
Mike: This show is sponsored by passiverental.com.
Gene: The game is really won in the second half, not in the first half. I don’t know about you but I’m 55 years old and I know at some point in my life, I realized you know what, I’ve been running and grinding and working really hard, just grinding my wheels as I’m younger, just trying to make money and make [inaudible 00:00:46] and just doing things as opposed to doing something with the purpose and at some point, you have to just sit back and say, “Okay, it’s halftime, where are we at?”
So whether you are 35 or 55, I think somewhere between 30 and 60 is half time for each one of us. You know we will die at some point, whether it’s 70, 80, 90 or 100, half time for you could be right now and what I’m going to suggest, recommend that you do is really consider where you are at and where you really want to go. Because when we talk about half time, if you are doing fix-and-flip real estate, if you are doing buy-and-hold real estate, if you are doing notes or storage units or whatever it may be, where is the end game? How do you win?
I do residential assisted living and the win for me is helping other people as I’m making a lot of money and the concept of doing good and doing well and helping others is really important to me. So the win for me isn’t just the money. It’s the ability to help other people and leave a legacy behind. I’ve got a family of four kids, a grandbaby, a beautiful wife and that to me is so important that it’s not just about the money, it’s not just about grinding it out, but it’s having the time to do what you want to do, having the freedom, the money, the ability to go where you want to go and give what you want to give.
So half time. Really consider that because as you are watching a game, especially football as things come up in the fall, and when you watch football, the first half is just almost meaningless and the second half, you can win it in the last quarter. You can win it in the last minute. You can win it on the last play.
I think basketball is one of the very best examples. How many times have you watched the basketball game where it all came down to the last two minutes and in the last two minutes on TV, in the last 20 or 30 minutes, and that’s where games are won or lost. So consider this half time for you, where are you really going? What’s your why and what’s your purpose and if your purpose is . . . fill in the blank, then how do you get there? What’s your half time? Where do you really want to go?
I know I’m being a little philosophical right now. We are not talking about nuts and bolts and carpets and lawn and all. Forget about that for just a minute. Why are you doing what you are doing? That’s what it’s about. I mean you can go through the REI Classroom and listen to everyone and they are going to tell you how make money. That’s easy to do but you have to understand and you have to decide why are you doing what you are doing.
If you know that, everything else is so much easier. If you don’t know that, you might work your butt off and accomplish a whole bunch but get to the end and say, “What was it for? What was it worth? Why did even do it?” So you have to be the one who decides why you are doing it and what your end goal is. So half time.
Now again, I want you to think this through real carefully because it’s your goal, it’s not mine. We are in the middle of the year right now but the reality is, you can do this at any time and right now, this day, is the best day to get started on wherever it is you really want to go. So when I talk about half time, the first half is over. What’s done is done. Don’t look back, you can’t fix it, you can’t change it, it is what it is. I don’t want to hang out in the past. I’m not going to live glory days. It’s where we are going, where we are headed? And you should be hanging out with people that are going where you want to go or are working towards where you want to be so that together you can help each other.
That’s what I do, is surround myself with positive people like Mike so that we can move forward in the right direction and do the things that we need to do today to get forward where we want to go in the future. So continue to listen to the REI Classroom but listen to your own heart, your own mind, your own head and decide why are you doing what you are doing. It’s halftime. Where do you want to be at the end of that fourth quarter?
Frankly, you are going to be in a box somewhere, six feet under the ground, we all know that but that’s not what I’m talking about. It’s that third quarter, that fourth quarter. This is where it’s the journey that counts. It’s not the end goal where you end up. It’s along the way. I mean I teach my kids, they are college-age now, but I teach my kids, it’s not getting there, it’s the journey along the way and enjoy the process because how many times have you looked back on the disasters that you are going through, the hard thing that you went through you look back fondly, looking at saying, man, that was fun.
Do you remember when that wall caved in? Do you remember when that guy stole the truck? Do you remember when they only delivered half the equipment? All those things that were a disaster at that moment or the fun stuff, the things you look back on, the journey itself and that’s where you really learn, not in your success but in your failure. So again, the past is the past but where are you going in the future? Where do you want to be in the third quarter, in the fourth quarter? And hopefully in the third quarter it’s not just about you, it’s about what you can get, what you can share, who you can help and then in the fourth quarter, it’s sit back and relax and enjoy so that you can now mentor and council other people.
I think of where I’m at right now, I’m in the third quarter. I got a lot of things left to do and a lot of people I want to help and blast and that’s part of why I do residential assisted living because I teach other people how to do it and what I love is going out to see their homes that they got started from scratch. They had never done it before and they’re up and running and they’re free financially. They’re doing it and they’re loving it and they’re discovering that helping other people is a really cool thing to do.
So guys, I’m glad you listened. I know it wasn’t nuts and bolts and carpets and doors, but you know what, you got to figure out where you are going and consider this your half time. Get yourself a goal and know where you are going and make it happen. This is Gene, your host today for the REI Classroom. Keep listening and keep watching and I’ll be back.
Mike: Passiverental.com is your source for turnkey, done for you, rental properties. If you’d like to be an investor and not a landlord, please visit passiverental.com to learn how to purchase cash flowing, professionally managed rental properties in the hottest rental markets across the country. We can also help connect you with financing for your next property. Invest the easy way today and get started by visiting passiverental.com.
Please note, the views and opinions expressed by the individuals in this program did 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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