I had a chance to interview Matt Bowles, one of the partners of Maverick Investor Group http://www.MaverickInvestorGroup.com a few days ago and he mentioned a word in that interview that has been on my mind for the last few days…that word is VELOCITY! I love the word velocity when it is used in conjunction with wealth and real estate investing because it is not the same old tired phrase that most of us are tired of hearing…you know the one. ..OPM, or Other People’s Money…We all understand what OPM is and how to use it, but VELOCITY is a whole different story.
Duing the interview, I had to stop and dwell on the point for a moment, and as usual, Matt obliged me. You see, when you are talking to an expert you have to listen closely and take notes. Everything that Matt says made so much sense, I had to slow him down to make sure I didn’t miss important facts. Keep in mind, I am in this industry and I consider myself an astute student, but sometimes I am amazed at the simplicity and focus of the people that I get to meet and rub elbows with…Matt is no exception…
Ok, so he went on to explain that most people leverage their money fairly well. This point has been made by dozens of gurus and is a well-trodden path, but when you leverage your money AND your time, well, that is when you begin to experience the benefit of VELOCITY in your wealth building endeavors. The more I think about it, the more he is right. Think about it for a second, how many people do you know who have leveraged their money properly using real estate as the platform, but then they totally and utterly over-leverage their time, by becoming something they aren’t proficient (or even good) at…namely, being a landlord. Many of us have done so many good things, only to find ourselves in the miserable position of being a landlord and not doing the things that are going to bring us the biggest bang for our buck! How crazy is that? (Ans. Pretty Crazy!)
Pay attention to your time and realize what is giving you the biggest return on your investment…chances are there is some room for improvement and the good news is that if you can find room for improvement, you can increase your Wealth Velocity!
Good Luck and Happy Investing!
Rob
http://www.LocalRealEstateDeals.com
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