If it doesn’t meet a BRRRR, can I build on it?.Now, when I do this, I start my day thinking: So, the tip I will tell people is if you want to find a better margin deal or deal like this, you’ve got to think like a long-term passive income investor. You can never find a flip that gives you these types of return, because your mindset is thinking flip. You think flip, you find a house that might flip. If you think wholesale, you find deals to match wholesale. How much money do you have coming in every single month? How many doors do you need?įrom there, if you’re thinking long-term, when you think passive income, you find deals that match passive income. So, my tip for you guys is you have to start with 10, 20 years out and ask yourself what your lifestyle looks like. A builder would think about tearing down. If you’re a wholesaler, what would you think? The farthest you can think is you can wholesale or maybe you can flip it later. As a real estate agent, when you look down the road, the farthest you can think is listing this property. When I was starting, I started as a real estate agent. Related: 3 Ways to Develop a Winning Mindset “How do you get focused on only one type of deal, and how do you broaden your mind to start looking at every possibility?” “If you were to simplify it-give me advice for any investor right now-tell me how do you look at deals differently?” I asked Thach. The Mindset of a Big-Time Real Estate Investor So, what’s the key to generating profits like Thach? Having the correct mindset. He’s doing so well, in fact, we’re standing in front of a deal that he anticipates will positively cash flow around $240,000 a year-and that’s just one property he purchased from one single owner. We should also do this even when we’re reading things with which we agree.In the video below, investor Thach Nguyen reveals how he has successfully made a career of investing in real estate. But in all seriousness, even when we read reputable outlets, critical thinking is important: who is writing this, where are they coming from with this, who funded this study, what is the aim here? And we should be reading widely from a variety of sources. As someone with a public health background, if I chose to refute what I see even on some of my Facebook friends’ posts, I’d be on social media all day arguing with people who think The Lancet is some medieval jousting tool. Social media, memes, and self-publishing platforms can be great, but they can also be hotbeds of misinformation, falsehoods, and at worst, hateful or dangerous rhetoric. Many MFA programs still eschew genre writing, have very rigid views on what they deem “literary,” still follow the traditional workshop model, or are still teaching the same syllabi from years ago, full of mostly dead white men. MFA programs in particular seem to be guilty of this (don’t me, I’m not dissing MFA programs, I went to one - I’m just saying they could use some examining, like many other kinds of educational programs). It follows, then, that writing and the way we think about it and teach it should also evolve and change. It has always changed, and this is nothing new. I think for writers, we are also seeing a shift in the way writing is approached and how we think about the craft, the teaching, and the process of writing. (Myself included - it’s easy to let publications that normally align with our views to go unexamined). If we’ve seen anything in the last six years in particular, I think it’s safe to say that there seems to be a lack of critical thinking about what we read.
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