So the big question is this, what would you do if money didn’t matter? So you had millions in your bank account, what would you focus on? Would you spend more time with your family, with your wife, with your kids? Take family vacations.
Would you pursue your gifts and talents and dreams? Serve your local community, teach others, serve your church. You see if what you would do if money didn’t matter, it was pursuing your gifts and talents and dreams to serve others, and that is probably what you should be doing.
The problem is most people are in the rat race, living five inches in front of their face with no time to pursue what they were born to do. That is the problem, and the solution is to develop enough passive income to replace your working income so you can quit your job and be free to live your life the way you were created to.
That is a solution and this podcast will show you how…
What’s up everybody? This is Ryan and welcome to another awesome episode of Cash Flow Dad Life. Today we’re going to be talking about winning against all odds. Now, as I’ve probably mentioned, every single episode, I have five kids. They’re all boys.
And what ends up happening when you have five kids with all boys is they want to fight, right? So they want to, they want to do these nerf wars. And uh, I actually suck at like war games…
Put me in front of a soccer ball, give me a football. Uh, I’m, I’m good, you know, in fact, if I’m playing xbox with my kids, I’m going to shy away from the call of duty and the fortnight crack cocaine that’s out there right now. And uh, and I’m going to want to play FIFA or I’m going to want to play madden or ncaa because I like the sports games.
So, but at the same time, I want to be a good dad. Uh, I don’t want to deprive my kids of a memory of playing me in a nerf war, but I’ve got to be smart at it because they’re only getting bigger.
And they’re getting smarter and their intelligence is increasing as mine seems to decrease as there’s increases.
So it’s always five on one, so it’s a, um, I’m against all odds when I play them and what I’ve been noticing lately is that I get smoked because they will either outflank me or I will focus on running down one.
They’ve got all these strategies, one comes and gets me, I run after him, shoot him to death. It’s awesome. And I think I’m waiting. And then another one sneak attacks me and I lose. So lately I’ve been losing a lot in my nerf wars, but it is five on one.
So the way I see it, I’ve got only a couple of options. Number one, I could purchase and beef up my equipment, right? I could get the semi automatic, automatic, a nerf gun with the fastest trigger, but at the same time, even if I get that and I and I just stand up and go in circles shooting, it’s, it’s still not going to do the job.
It’s five on one…
They’re going to take me down eventually I will not win even with the best equipment. Uh, secondly, I could just get better. I could increase my skill, right. Um, I could, uh, start doing some pushups and wind sprints that has been a hitting it a little harder on the ice cream and Scotch, which tends to put on the pounds and not exercising as much and you get back to that and get back to the gym.
So I could focus on my skill, but uh, but at the same time, you know, even if I am quicker and I’m faster again, it’s five on one. So that seems like a lot of effort for not a whole lot of a result there. So the third thing that I came up with that I’ve been doing recently is I thought to myself, all right, why don’t I just focus on strategy here? And, and it’s the art of war.
I don’t know if any of you have read the book. It’s like the biggest book in the world. I actually played it on audio tape, wants and listened to the whole thing on, on a car ride. So I thought to myself, the element of surprise, why don’t, why don’t I, instead of competing head to head with them, why don’t I just make them think that I’m not actually in the NERF war?
So what I’ll do is the last me if I want to play in a nerve for, I’ll say no, but you guys go ahead. What ends up in avidly happening? Because I know my enemy, I know my kids. They’re going to end up finding about who got hit and who got hit were and what happened.
And then when they do that, what I’m gonna do is I’m going to get up and I’m going to be dead. I’m saying, Hey, give me your guns and I’m gonna, confiscate all the guns. And then what do I have?
I’ve got five kids with no ammunition and I’ve got five guns and I can just sit there and mow them down with the guns. And that’s how I win the nerf wars. I do it by them not even knowing that we’re actually in a war.
So the moral of the story is strategy trumps all…
When you choose the right strategy, you don’t have to have the best equipment, you don’t have to have the best skill. All you do is have to have the smartest mind…
Now, I don’t know how many of you guys are football fans. I’m a big football fan. There was an epic legendary game actually changed or pave the way to change the course of the bcs era in college football. And that was in 2007 with Oklahoma against Boise state in the fiesta bowl.
Now Oklahoma, you know, big team seven national titles, uh, at the time Adrian Peterson was the running back and in the pros he was a monster. But in college he was an absolute juggernaut beast. Okay. And, and Boise state, you know, they just kind of came out of nowhere. They were a whack team. Uh, there, it had a first year head coach.
It was kind of a Cinderella story. You’re David and Goliath type thing. Nobody was expecting boise state to win this team. Oklahoma was faster, Oklahoma was stronger. Oklahoma had more of a history.
And when it came down to skills and talents, they were by the book, knew exactly what they needed to do to win veteran coach, a legendary coach. And what ends up happening is in the beginning of the game, Boise state on just kind of a couple of flukes ends up ahead, right? I’m going into the halftime. I think they had a, they were up by three touchdowns on Oklahoma. But then as the game wore on Oklahoma started, you know, really coming back and showing their true colors.
There were, you know, the first couple of scores were like interceptions and stuff like that. A fumbles. And uh, it was pretty much boise state’s defense was winning the game for them.
And then in the second half, Oklahoma makes this run back, you know, they hand the ball to Adrian Peterson. He, most people down in Oklahoma starts playing real. I’m just real fundamental football, you know, just taking boise state to school there, the veterans there, the jug or not here.
And, and now you’re seeing who is the real winner and now you start thinking, okay, Boise state, you know, they had a good run. Uh, it was actually kind of a fluke because when faced with a good time tested whether team in the end they’re going to lose. So at this point in the game, by the fourth quarter, it was 35 to 28, Oklahoma was up, it was fourth down, an 18 with 18 seconds left on the clock, right? So you can imagine fourth and 18, 18 seconds left on the clock.
Boise state’s got the ball.
So what do they do? They do not the set play, they don’t do something that everybody is expecting. They throw what they call the circus play. They throw a little hook and ladder, throws it down field about three yards before the first down marker and they’re at about midfield.
And then as everybody closes in on that receiver, he pitches it back to one of the slowest guys on the team who ends up getting an extra, a little extra juice in his legs, runs for the touchdown.
Okay? So a couple of seconds left, now it’s 35 to 34, the coach, first year coach with Boise state, you know, rookie coach, a head coach, and uh, he thinks to himself, all right, at this time we’re going to focus on strategy because we’ve gone 60 minutes with this team. I don’t know if we can do overtime against this team.
This is a time tested whether team, they’ve already made a big comeback on us at this point. We need to end that end out the game. So in a highly strategic move, he does a two point conversion where the quarterback does a trick play. He does a statue of Liberty.
If any of you guys don’t know what a statue of Liberty is, basically when you have the quarterback. So he’s throwing with his right hand, he puts the ball in his lefthand and tucks it behind his back and pretends like he’s throwing it with his right hand.
So it draws the entire defense to the right side of the football field. Meanwhile, his lefthand is tucked behind his back with the football running back, grabs that runs into the touchdown game over, not only that, but the one running back and wins the game, ends up proposing to his cheerleader, girlfriend at the end of the game.
It was just the biggest shock, uh, and one of the most epic games in college football history, and it’s all because the coach chose the right strategy at the end. He didn’t have more skill for more skillful players than Boise state. He didn’t have more talented players than boise state.
He chose the right strategy to execute at the end of the game. And that’s what won the championship…
So how does this all relate to real estate? With real estate? You’ve got skills, you’ve got veterans and um, and, and you’ve got strategy. Now, the first thing that we can take away from this is that strategy trumps all.
So even if you don’t have fully developed real estate skills yet, you know, if you’re, if you’re not, you know, a master negotiator, if you’re not a master at finding money, if you’re not a master at finding deals, uh, if you’re not a master at creative financing or owner financing or structuring deals, that’s okay with the right strategy, you can even beat the veterans.
Okay? So, so what is that strategy in real estate? I don’t care what, I don’t care what you specifically go into, but you need to have at least three elements to have a strategy to, to trump everything else in real estate.
And that is number one, you’ve got to learn how to use other people’s money because if you’re just using your own money, you’re going to run out, never use your own money…
You can leverage your own money, but don’t use it because unless you got $10,000,000 lying around, you’re going to run out of that money eventually.
If your goal is to create enough passive income to replace your working income and to do it as fast as possible, you’ve got to use other people’s money. All right?
And the second part of your strategy needs to include buying houses at a discount…
So never pay full market value for a house a pretty much anywhere in that like 90 percent, 80 percent. Uh, that’s kind of the range that’s typical. Seventy five percent, 60 percent if you’re really good at finding the deals, but that needs to be a critical component of your strategy is finding the deals at a discount, you know, shoot for 60 to 80 percent of it’s appraised value.
And then the third component of that strategy is you want to make sure that if your goal is to have passive income to replace your working income, make sure that you don’t have another job, okay?
You got to make sure that you set up that house that you bought at a discount in a way where it’s providing you passive income money you make while you sleep.
So there are things you can do to make a property more passive…
Number one, you could get a property manager on that property, number two, you could own or finance that property, basically become the bank to another person so you’re not running out the fixed pipes and handle all kinds of issues. And in doing that, if you have those three components, other people’s money, buying it at a discount and making it passive, you do that over and over again.
You can quickly turn into the rookie, to the juggernaut. Okay? Uh, the second takeaway from, you know, winning against all odds and these stories is that, okay, so you understand the strategy, you understand other people’s money buying at discounts and making it passive.
Number two is you got to practice this strategy and have confidence in it moving forward. Now there is a big intimidation factor when you first get started in real estate.
I remember when I first went to the civil sheriff foreclosure sale, for example, and uh, and I’m the new guy and there’s all these veteran investors in there…
You can’t feel like you’re at a level below them. Like I remember hearing some interviews from the guys from Boise state and they went into this room before the fiesta bowl where there’s a bunch of Oklahoma sooners there and they’re very polite to them, but they’re basically like, you know, you’re not supposed to be here.
Right? It must have been fun to get to this bowl game, but you guys know you have no chance of winning. Right. You know, great locker, locker room motivation for Boise state. But that’s, that’s Kinda how I felt when I went into like the civil share foreclosure sale for the first time.
The thing that won the game for Boise state was that Hook and ladder play that fourth and 18 play. Now, what you probably don’t know about the story is they used to practice this. They call them, you know, Jack around plays and practice.
So in practice, like either before or after practice, they’re like, all right. And they called this play called circus where he’d basically throw the ball and you’d do some laterals until somebody got into the touchdowns. So they actually would practice, play every single practice just to goof off and to.
And, and to, you know, have a little fun, loosen up, get the, the creativity in your mind working well when you interviewed, when they interviewed the players afterwards, they said when they came out of that huddle at fourth and 18, because they had practiced it, there is no doubt in their mind that this play would work.
So they proceeded to move through this play with the utmost confidence. So they knew that, all right, we got the strategy, we’ve practiced this before and now it’s just a means of executing.
So that’s what they did through it, pitched it back, they knew it was going to work…
And, and there’s a huge difference that happens when you approach a situation with confidence. Okay? So after you pick your real estate strategy, it’s important to practice it, you know, find some sort of forum to practice, find a network, you know, there’s real estate investment clubs, there’s different educational programs that you can join where you can really practice these strategies before you go out and do them.
But after you practice them, just have confidence in it and then execute. Okay?
And then the third most important takeaway, which is kind of the same as, as practicing with confidence, it’s just trust your strategy because you’ll go into a situation where you’ve, you’ve executed the play before, okay? And you have to look back on it and say, all right, do I really trust that this is going to work?
If you don’t trust it’s going to work, you won’t execute it, or you’ll let intimidation or fear get the best of you…
Alright? So that’s it guys.
Those are my three tips for beating all odds, uh, based on my experience fighting my kids in a nerf war. And that legendary Boise state, Oklahoma, 2017 fiesta bowl championship, a number one strategy trumps all. Number two, practice your strategy. And number three, have confidence and trust your strategy.
All right guys, I hope that helps and I’ll see you in the next episode. Take care…
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