People embark on the journey to financial freedom because they want….financial freedom, of course! But is financial freedom actually the greatest reward of the whole journey? As Thoughtful Real Estate Entrepreneurs, the answer is no—there is a greater reward: the person you become along the path to financial freedom. In this episode, Jeff describes the many different transformations you go through as you progress toward financial freedom, and explains how they will serve you well into the future, even if your financial freedom itself doesn’t last.
If you’re listening to this podcast, I think it’s probably pretty safe to assume that you are embarking or have embarked and are progressing on a journey towards financial freedom. That’s definitely what I’m doing. And I think that’s what we have in common. But let me ask you this, when you achieve that, and I have no doubt that you will, if you keep working on it and putting your mind to it, is the financial freedom the actual reward that you get from that journey? It’s a weird question. It seems obvious, right? But in this episode, I want to talk about another reward that you get from that journey that is even greater than the financial freedom itself. So let’s cue up that theme song jump right into it. Welcome to racking up rentals, a show about how regular people, those of us without huge war chest of capital or insider connections, can build lasting wealth acquiring a portfolio of buy and hold real estate. But we don’t just go mainstream looking at what’s on the market and asking banks for loans nor are we posting We Buy Houses signs are just looking for quote, motivated sellers to make lowball offers to. You see, we are people oriented dealmakers, we sit down directly with sellers to work out Win Win deals without agents or any other obstacles, and buy properties nobody else even knows are for sale. I’m Jeff from the thoughtful real estate entrepreneur. If you’re the kind of real estate investor who wants long term wealth, not get rich quick gimmicks or pictures of yourself holding fat checks on social media. This show is for you. Join me and quietly become the wealthiest person on your block. Now let’s go rack up a rental portfolio. Hey there thanks for joining me for another episode of racking up rentals. Show Notes for this episode can be found at thoughtful our E comm slash e 123. That should be easy to remember, please do us a big favor by hitting the subscribe button and your podcast app. Whichever one you were using, it really helps fellow thoughtful real estate entrepreneurs to find this show. Onward with today’s episode. Now, I want you to just visualize something, if you’re not operating a vehicle right now or a bike or something like that, close your eyes for just a quick second. And picture that you are on a track like a running track. And where you are standing right now is the start line and that represents where you are in your journey right now towards financial freedom, maybe you haven’t really started at all, maybe you have a few properties under your belt wherever you are, that’s your starting line. Now up ahead, visualize up ahead, there’s a finish line, you can see that painted on the ground, maybe you see a tape across, you know the chest height level at the finish line. And you know that that finish line is financial freedom. Alright, so the gun goes off when you click the gun because you get to start when you want to and you start the race, and you eventually cross that finish line. So let me ask you a question. What is the best part of that picture? That I just had you paint in your mind? Is it reaching the finish line? Is it feeling the the tape across your chest and feeling a brake as you pass through there? Is it the actual reality of being financially free? You know, is it is it what that enables for you quitting your job? perhaps maybe taking a trip? or multiple trips, spending time with people or family or doing certain things that you love? Is that the best part? Well, I would say those things are amazing. Those things are great. And Heck, yeah, those are awesome things. But I don’t think that that’s the best part of this scene in your mind right now. I think the best part is this, the person that you became between the start line and the finish line, you became the person capable of hitting that finish line now you didn’t start as the person capable of hitting that finish line you started as the person at the start, you started as the person capable of starting and crossing the starting line. But you did not begin this journey this race. As the person capable hitting that finish line, you became that along the journey. In other words, you transformed by what do I mean by transformation let’s there’s a few different ways let’s just outline a couple of them, you transformed in that journey in terms of your skills, when you cross that tape at the end, you had different skills than you started with and you needed those skills in order to get to that finish line and cross it. You transform in terms of belief in terms of what you thought was possible in terms of what you thought you were able to accomplish. And that leads to a transformation in your self image, right? You started the race as somebody who knew they could start, but somebody who was just kind of guessing and hoping that they could be the person capable of crossing the finish line but you didn’t know for sure. You had wonder you had self doubt perhaps you had uncertainty if you would be the person who could achieve that. So your transformation included the transformation of how you see yourself and your self image. is one of the most unbelievably important and powerful things in the whole process of everything that we do as thoughtful real estate entrepreneurs, your level of experience, the amount of different conversations and different scenarios you faced and challenges you faced. And it goes along with the skill set, but you know how to navigate those challenges in those and utilize those skills now. So you’ve transformed between the starting line and the finish line. Now, why is that? The best part right now, I’m not saying hey, hit pause, go grab, some friends all hold hands, because we’re about to do some Kumbaya. I’m actually not talking about that at all. Although I would say that, honestly, the feeling of that transformation is really important and very valuable. I think this transformation has very, very practical and rather tangible benefits for you moving forward. And here is the reason the financial freedom that you have attained, could be taken away from you. But the transformation that you underwent cannot be taken away from you, right? I don’t want to plant these seeds of concern in your mind. But Gosh, right, there could be some kind of an economic issue. There could be, I don’t know, a pandemic, there could be a bankruptcy, there could be a personal crisis that could knock you back many, many steps. Financially, things could go wrong financially, just because you’ve crossed the finish line. It’s it could still get on wound a little bit, it could get undone. But you know what cannot get done, done. Your transformation. I mean, I’ve thought to myself many times like worst case scenario, I guess someone could foreclose on a property, but you cannot foreclose on my knowledge, my skills and the transformation I’ve undergone the person I have become and the same is true for you. So in other words, you know, the reward that you have earned is, of course, some the financial freedom, but it is that you have now become the person who has what it takes to be self sufficient forever. And I have to say, just as a side note, I’ve been thinking more and more and more about self sufficiency, and independence, and resilience. And when I really dipped down deep into my heart to think about, like, why am I passionate about helping people become thoughtful real estate entrepreneurs at the end of the day, it’s because I really believe in the idea of self sufficiency and resilience, I feel like, I want that for myself, I want to help other people accomplish that. And when you do this transformation, when you undergo this transformation, you become a lot more self sufficient, because you could lose it all. And you could rebuild it. I hope that doesn’t happen to you. But you could rebuild it if you needed to, or instead of needing to rebuild it because of some catastrophe, you could just look down the track again, from where you’re standing right now and say, Hey, you know what, where I’m standing right now, here’s the starting line, and I’m looking at something in the future and the distance there. And that’s going to be my new finish line. And I’m going to set a new race. And I’m going to start right now. And you would know, at the start of that race, that you had already become the person capable of hitting it because you already underwent a race, you already did a race and you saw the transformation in yourself. So where you’re starting now is totally different than where you were starting before. The funny thing is this nobody embarks on a journey towards financial freedom. For the purpose of transformation, they embark on the journey of financial freedom for financial freedom of course, right and i would be no different but it’s on that journey that you start to realize that the transformation the personal growth that you experience that leads you towards resilience and independence and self sufficiency is not just a cool byproduct, is actually is the most valuable part of the whole process. I want to just shift contexts for a quick second and just kind of share something personally in my life. My whole life I have struggled to achieve like a really high level of fitness I’ve kind of often had like a decent level of fitness and I have some natural things that I’m okay at, you know, relatively fast as a runner, relatively strong naturally, but anything related to endurance has just always been my nemesis, like the ability to run for more than you know, a couple minutes at a time is something I really really have to work on. Or you know, go for a mountain bike ride or something that requires a longer form of endurance has always been super, super difficult for me. And I’ve thought a few times and I will be honest with you, I have not ever actually undertaken this, but I thought well, what if I were to set a goal for like a 10k and No, my wife and I ran a few five K’s which had kind of a similar purpose. But a 10k would be a huge stretch for me, right? I know you’ve for you listening, that might not be any, that might be a walk in the park, you know, but for me that’s like, climbing Mount Everest kind of. And I know that if I set that goal, I would get to the end of it, and I would be able to run a 10k. And that would be pretty cool. But you know what the bigger result would be for me, what the bigger benefit would be for me, is I would transform into the person capable of running that 10k. What does that mean, for me? Well, it means a few things. You just heard me make self deprecating comments about how I can run well, in order to become the person capable of running a 10k, I have to stop saying those things to myself, I have to change that self talk myself, I need to persuade myself that I am actually the person capable of doing it, I just haven’t chosen to do it yet. I have to go through a transformation of nutrition, of course, and an eating right and not drinking alcohol and consuming the right amount of water and taking the right kinds of supplements and things like that, that would be a personal transformation. For me, that would completely change who I am way beyond the race itself. So on race day, I’d show up, I’d run the race, I’d finish the 10k I would feel amazing about that. But the person I would have become along the way, would have been the greatest and most lasting benefit of the whole thing for me. So if you think about it like that, maybe you relate to a physical story kind of like that, maybe you just relate to it on the level of financial freedom. But while nobody really embarks on a journey of financial freedom for the purpose of transformation, it is absolutely the greatest reward you will get. So I encourage you to start that journey to keep going on that journey to consider wherever you are right now is the starting line. And financial freedom is the finish line. And here’s why that’s so important. along that journey, guess what? big shocker. Spoiler alert, it’s going to be hard. It’s going to be difficult, you’re going to face times and you’re gonna say I don’t know what to do, I want to give up. Certainly things like that. But if you take a moment to step back and appreciate the fact that the reward is not just the financial freedom you’re pursuing, but it’s actually the person you’re becoming along the way. You very well might be able to just embrace that and say, You know what? these struggles right now not only am I going to get through them, I am grateful for them because they are a major catalyst and facilitator of this transformation that I’m currently undergoing. So that’s it for today’s episode of racking up rentals. Again, Show Notes for this episode can be found at thoughtful ar e comm slash e 123. Please do us a big favor by hitting the subscribe button in your podcast app and take a second to rate and review the show. Did you know that we have a Facebook group for thoughtful real estate entrepreneur as well. It is called rental portfolio wealth builders. We would love to have you there. So just look for rental portfolio wealth builders in Facebook or type of group dot thoughtful ar e comm into your browser. And the magic of the internet will take you right to that page within Facebook. If you liked this episode, please take a screenshot of it post that to Instagram and tag us in your post. We are at thoughtful real estate. So I’ll catch you in the next episode. Thanks for listening until then. This is Jeff from the thoughtful real estate entrepreneur signing off. Thanks for listening to racking up rentals where we build long term wealth by being a win win deal makers. Remember solve the person to unlock the deal and solve the financing to unlock the profits.