This episode of the Forever Cash Podcast has nothing to do with land flipping and everything to do with land flipping. No matter what your business, core values are crucial to your company’s success.
Learn From Our Mistakes
In 2002, we started flipping land and took our company to 30 employees doing 80 land deals a month. Now we can do as many deals as we want, because we’ve outsourced everything. Back then, we were doing it all in-house.
What we did not have back then was a proper corporate culture. That led to a revolving door. People would come in, and they would basically work for the money. If they found someone else who’d pay them $5000 more a year, they’d leave.
There was no mission, no focus on team, no clarity as to what we stood for as a company. We had built an eight-figure business, but we were constantly hiring people, because they would come and go. What was happening? What could we do to fix this?
Thankfully, we got exposed to the concept of a proper corporate culture and the importance of being a core values-centric company. Core values aren’t just business ethics. There’s no such thing as “I’m ethical in my personal life, but in my business life, I screw people.” That’s not how it works. You either do good or you do bad. We don’t have a dual standard in our lives. We live an ethical life across the board.
Why Core Values?
Core values are values you embody as a person. You own your company, and so you drive the core values. These values have multiple purposes in your life and business. They:
You magnetize those who live according to your core values. Honest, stand-up people attract other honest, stand-up people.
Our Five Core Values
You can make your core values whatever you want. Here are ours:
#1: Take Bold Action
We’re empowered to make bold decisions, even if it means being wrong some of the time. We believe in self-initiative, resourcefulness, and creativity to produce top quality results and have a massive impact. I’d much rather have someone lean out the window, and I have to rein them in, than them not being brave and bold.
#2: Be Excellent
Yes, you can mess up. If the spirit of the action was trying to make the company better, you won’t get penalized. We’ll make adjustments, but you’ll get applauded for the attempt. We only give our best effort, and we’re committed to holistic growth. I do the best I can and always get better. We want our team continuously growing and taking on new challenges. If you just want to cruise through life and do the minimum, our company is not for you.
#3: Embody Integrity
We believe in honest, authentic, open relationships through communication in all interactions. We don’t talk behind people’s backs. Integrity really means doing the right thing, in particular when no one is watching. If you live by integrity, it’s simple. You promise, you do it.
#4: Be Transformational
Michelle and I made the commitment a long time ago that everything we touch will be transformational. Even our team members and students. If you work with us for years, and then leave to pursue other dreams, we want you to leave equipped to be a CEO immediately. We want to make real changes in people’s lives.
#5: Be All In
We’re not an 8-to-5 company. We don’t do anything half-assed. We go all out. We work hard and play hard, and one of our mottos is Whatever It Takes. The road is empty on the Extra Mile. That’s the road we want to take.
Your Core Values Are Everything
These core values will become your company’s DNA. It’s not just a piece of paper stuck on the wall. Go over it with your team once a month or quarter. The moment they get hired in our company, they have to sign it and commit to being on board.
These core values are something we LIVE every single day.
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In this episode of the Forever Cash Podcast, I share 5 characteristics of a person who has what it takes to win in land flipping. But, really, these characteristics are key to winning at anything in life.
#1 Have a Goal.
If you don’t know where you’re going, how will you know how to get there? Most people are just floating through life. They have a job they don’t like, but it makes “enough” and they “don’t hate it.” I call this “comfortable misery.” No goal of saving a million dollars in the bank. No goal of becoming executive vice president. They might say, “I want to change my life.” But, if you’re not specific about it, you’re going to fail.
Those who win in land investing have looked into our Land Profit Generator community, have seen other successful people with a lifestyle they want, and they’ve made specific goals:
#2: Know Yourself.
You wouldn’t believe how many people don’t truly know themselves. Do you know your strengths and weaknesses? Do you know your tendencies when it comes to your work ethic? If you have a bookshelf full of self-help books and courses, and you haven’t even cracked the cellophane on most of them, you don’t know yourself.
Are you an extremely disciplined person that, once you make a decision, you hold on like a bulldog and won’t let go? My daughter is like that. She comes home from school and doesn’t want to go out for ice cream until she’s finished her homework. She gets that from Michelle, who is very disciplined and responsible.
I have the tendency to start something, get sidetracked, start something, get sidetracked. If I want to be successful, I need to put myself in an environment that doesn’t allow me to fail.
#3: Create an Infrastructure of Support
We have these artificial constructs all around us that keep us in line when our natural tendencies lead us astray—like high school, college, a job. They keep us disciplined when we don’t want to be. If we go out on our own, we have to create artificial infrastructure to maintain our discipline so we don’t back out.
We do this for you in our coaching program. We provide a structured environment that helps you, protects you, and accelerates you, all while holding you accountable. We plug you into an ongoing support system to get the answers you need and help you stay on track. We teach you how to build a sustainable business and walk through life with your head held high.
#4: Know Your Why
Why do you want to move out of your current situation? Are you working 60 hours at a job you hate? Is there someone in your family who is in poverty, and you could break them out of that? Do you have big dreams for you and your partner and/or kids?
You need to put that “WHY” in front of you so that your urgency to make it happen is BIG. Then, if you get sick for a week, your kids get sick for a week, or some other big life obstacles get in your way, you’ll have the drive to get back up, get going, and start that momentum again.
#5: Be Consistent and Persistent.
Everyone wants to wake up wealthy tomorrow. They want that magic pill, that magic wand. But Rome was not built in a day. You’ve got to put effort in, step by step, day after day. Do something every single day, and do it consistently no matter what. Put the blinders on. Make the commitment. Get in line. Stay in line. Chip away. Get the right support system and just march.
If you can put 5-10 hours a week into this business on a consistent basis, and get the proper coaching, there’s no way in hell you’re not going to be successful.
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In this episode of the Forever Cash Podcast, I sit down with Rana Vig who has been an entrepreneur for over 35 years. After losing a million dollar investment in the mining industry during the 2009 recession, he got into the cannabis industry. Now he believes mining is making a comeback, and he’s ready to invest in silver and gold again.
Forecasting a Hard Metals Supercycle
I asked Rana how he knows that hard metals are coming back, and he said because mining is cyclical. It’s been 10 years since the collapse, and a supercycle is coming. It’s time. A supercycle is a period of high demand that leads to a surge in prices. It’s followed by a collapse of demand (and eventually prices as well).
Rana says the world has never seen a crisis like we’re seeing today. The pandemic is causing chaos and further economic downturn. Then you’ve got riots and unrest in various countries. Governments all over the world are completely broke and trying to figure out how to keep the economy propped up. They’re printing unprecedented amounts of money. What does that do? It leads to inflation and devalues the currency.
Gold, on the other hand, likes instability. Gold is an established currency that the market falls back to, in order to account for insecurities. Every time there’s a big insecurity, gold prices spike. Gold is entering a supercycle. It’s already significantly up from last year, and Rana expects it to go much higher.
Real Estate Is Another Hard Asset That Becomes More Valuable
Precious metals and real estate are both hard assets, but gold and silver aren’t investments so much as something you keep to protect your wealth. As formidable investor Warren Buffett is famous for saying, “Gold won’t do much except sit there and look at you.” Ironically enough, Buffett invested in a major gold company for the first time recently and made headline news.
Real estate, on the other hand, is not only a long-term investment, it can bring in cash flow in addition to appreciation. Our land investors know this quite well. In the 70s, Rana’s father was an engineer making $40k a year. The first house he bought in Vancouver, British Columbia was $40k. Today that same engineer makes $85k, but that house is worth close to $1.5 million. Rana reminds us that it’s always recommended that about 10% of your portfolio should be in hard assets.
Our land investor students are always looking for ways to invest their money. They’re asking smart questions like:
Investing in Mining Companies
Rana recommends investing in gold and silver, yes, but also investing in actual mining companies as well. When these commodities get into a supercycle, for every small incremental rise in gold cost, the stock of that company multiplies. That’s when you get your biggest bang, your biggest leverage. Rana recently started a company called Blue Lagoon Resources. A research company just released a report saying they believe Blue Lagoon is 50% undervalued, making it a good time to invest.
We don’t know the company that well, so this is not an endorsement, but it’s educational, and I encourage you to check it out. I’m not qualified or licensed to give investment advice. My job is to open people’s minds to think differently, look at different asset classes, and invest accordingly.
It’s times like these when generational wealth is created. Times of great change always bring with them great opportunities. The one who shies away from the change is the one who will miss out on everything. The one who leans into the change and follows the change and figures out the change is the one who will be exponentially rewarded for it.
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In this episode of the Forever Cash Podcast, Jack shares the State of the Union in Real Estate, land investing in particular. He tells us what’s going on in the market right this minute and forecasts what things will look like in the coming months.
A Global Pandemic: One Year Later
It’s been a year since the U.S. shut down in response to the global outbreak of Covid-19. Immunization is proceeding slowly but surely. Leading experts say we’ll hit herd immunity in April or May 2021. This means:
We’ll get back to a halfway-normal economy, but we have a lot of catching up to do, especially in manufacturing. There will be a short-term boom in blue-collar work. Because of the stimulus money, increased unemployment money, the foreclosure moratorium, and another big stimulus on its way, there will be a floodgate of money coming into the market.
What’s In Store For the Housing Market
The pandemic has affected the real estate world greatly, and it will continue to have an impact. Let’s start with the housing market. People living in houses don’t own them free and clear. They have to make monthly mortgage payments. They can only make those payments if they have jobs. They only have jobs if the economy is open.
Interest rates are low and house prices are high. Some people are going to lose their houses. Others will be able to sell out of their delinquent situations and come out on top. A lot of people are going to refinance at those low interest rates and still be in good shape. The rental market is going to do well. People will sell their houses and rent temporarily before they buy again.
Land Investing Is ON FIRE
Land investing is on a continued trajectory for awesomeness. Land is still one of the last areas in the real estate market without much competition. People are moving out of cities and into the suburbs, and that trend will continue. This year has conditioned us to want space. People don’t want to live on the 27th floor of a highrise in New York City these days. They want land away from crowds and traffic.
Properties on the outskirts of town, recreational acreage for weekend escapes, will continue to be in high demand even as the economy opens back up. Why?
Land investing is hot right now. It’s on fire. The best time to get started in land investing was a few years ago. The second best time is NOW.
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Register HERE: www.landprofitmaster.com
In this episode of the Forever Cash Real Estate Investing Podcast, Jack hosts his wife and partner, Michelle Bosch, as she breaks down the five layers of leadership.
Do You Have What It Takes to Be a Leader?
If you’re reading this right now, you’re most likely a leader. Leaders are those who take control of their destiny, are committed to lifelong learning, and invest in personal growth.
What defines a leader?
Being a leader can be a lonely road. You might feel as though you are the first to explore a particular path, which can feel overwhelming at times. Feeling this way is normal and a good sign that you are on the path less travelled, which is the right place to be.
The Five Layers of Leadership
Leadership, like mastery, happens in phases. When you are growing your land investing business, you will progress through four stages: courage, commitment, competence and confidence. (Register for the upcoming Land Profit Masterclass to find out more about the four C’s of growth in your land flipping business: http://www.landprofitmaster.com).
As your thinking and approach to life shifts in response to your growing business, you will also progress in your journey as a leader.
Michelle identifies these stages as follows:
Learning to lead yourself
Leading your family
Leading your team
Leading a community
Leading a movement
If you’re just getting started on your journey as a leader, your first step is to lead yourself out of your limiting beliefs and mindsets. Like the mindset that says you’re trapped in a 9-to-5 job you hate. Once you master this all-important step, your circle of leadership grows exponentially. While challenging on many levels, it is an enriching journey of self-discovery that is well worth undertaking.
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