Success coach Trevor McGregor has guided winners, including everyone from Olympians to real estate moguls. One of his most requested subjects? The six rungs on the ladder of success. The little things compound when you invest more in your success and climb that ladder. From step 1 to step 2 is a mile – a big step! However, the farther you climb, the shorter the distance between steps. This ladder principle applies to every aspect of our life, from our real estate business to our marriage, as well as our diet and exercise.
Climbing The Ladder Of Success
What are the six rungs on the ladder of success, from bottom to top? They are showing up:
1. Poor 2. Good 3. Great ———————- 4. Excellent 5. Outstanding 6. Extraordinary
Most people can get to the third rung with a little effort, but can you climb up above that middle line, which leads to the “Excellent” rung?
When your effort is poor, you will get pain as your result. Playing good will only get you poor results, while great work means good results in your future. Excellent effort will get you great results. Outstanding effort results in Excellent Results, but only extraordinary effort will yield outstanding results for you. That extraordinary work is the only way that you can reach outstanding results when climbing to the top of the ladder of success.
Join Our Community
Do you own multi-family properties? If not, do you aspire to do so one day? Then you should definitely consider joining our online discussion group, the ATL Inner Circle Community! Each month, Rob Rowsell will teach you what you must do in order to build wealth in the real estate business. Property taxes, liens, and legal fees can all be hard to navigate, so having a successful guide in your corner like Rob is a must! Sign up today!
Investing in Commercial Real Estate may seem risky. If you do it right though, there are tons of hidden benefits – not to mention the huge profits! Successful real estate investor Rob Rowsell explains how multifamily investments qualify as commercial real estate, just like storefronts and other commercial retailers. Rob also explains the benefits of a Triple Net Lease, and the importance of carrying the right insurance coverage. This is a great primer for real estate investing beginners.
Is Investing In Commercial Real Estate For You?
A participant on a recent Inner Circle Community call joined in on Rob’s Q & A. He recalled the saying that all property investors end up investing in commercial real estate. Is that really true? For Rob, it is, but in more than one way.
Rob explained that real estate professionals refer to multifamily investments as “commercial residential properties”. Since multifamily is Rob’s bread and butter, you could say he is deeply entrenched in investing in commercial real estate.
He also invests in Triple Net Lease properties. These range from single tenant buildings, such as Walmart stores, to strip malls housing multiple businesses. There are variations on the Triple Net Lease model. Rob explains that when you invest in a True Triple Net Lease property, the tenant pays for taxes, insurance, and maintenance. You are free and clear to invest or spend their rent checks, without paying for any of those bills. However, Rob always takes out an additional insurance policy on each property just in case tenants’ policies lapse or get canceled.
Join Our Community
Do you own multi-family properties? If not, do you aspire to one day? Then you should consider joining our online discussion group, the ATL Inner Circle Community! Each month, Rob Rowsell will teach you what you must do in order to build wealth in the real estate business. It’s not as easy as it looks! Property taxes, liens, and legal fees can all be hard to navigate, so having a successful guide in your corner like Rob is a must! Sign up today!
What you don’t know about your own Retirement Plan might just shock you! Most American workers invest in a traditional 401k Wealth Bucket Model. However, that just may not be right for you, the savvy property investor. Think about it. What if your bucket of money runs out before your retirement years end? When you rely solely on that bucket of money, the ensuing expenses can drain it over time. Those funds could dry up before you pass away, and then you may have to go back to work. Definitely not what anyone wants in their twilight years. Read on for further explanation and a much better way for you to save for retirement!
The Wealth Bucket Model Retirement Plan is Broken.
Just like Steven Covey’s book The Seven Habits of Highly Effective People outlines, we will begin this essay with the end in mind. Although small details will vary between us, we all want the same thing out of life. We want our freedom! More specifically, we want the time to do all the things that will fulfill us. Hopefully, we can make that time before we are too old to actually enjoy them to the fullest.
Rob outlines the means to this system as your Wealth Operating System, also known as your CORE Fund. This fund will form the base of your financial freedom. Eventually, your CORE Fund should start to generate Horizontal Income, totaling 1.3-1.5 times the amount of your Vitality Number.
This is how multifamily home investor Rob Rowsell encourages the members of his financial community to approach their retirement planning. However, almost every American will foolishly lean on a Wealth Bucket Model. We will explain that model next.
What Is The Wealth Bucket Model, And Why Should We Not Use It Exclusively?
What is the big picture that we want to paint about the Wealth Bucket Model? Most of us American citizens will contribute regularly to a 401k retirement fund throughout their career. There is absolutely nothing wrong when you use a 401k fund as a nest egg. However, when we rely on it exclusively, then we run the risk of running out of money before we are ready. We may have to go back to work in order to pay our bills. Rob outlines more below on the biggest expenses that are holes in the wealth bucket model.
Ignorance Is The Number One Leak In The Wealth Bucket Model
When we move on from our businesses, most of us will inevitably want to try new endeavors. We often make the mistake of thinking that our new ventures will come just as naturally as our pre-retirement ones. Many a successful investor has fallen prey to this trap. If you insist on investing funds in a new business or property, then you have to do your homework! Make sure that you partner up with some trusted experts in those fields.
Taxes – How Tax Drag Drains Your Wealth Bucket Model
When you reduce your personal Tax Drag, it can create a huge income stream! Rob preaches this point again and again to our community, and with good reason. Does your CPA recommend ways that you can legally reduce your tax burden? Well then, do it! Then, you can invest the difference in assets in accounts which will return compound interest.
Find Out What Your Vitality Number Is
Your Vitality Number refers to the annual cost of living which you want to live within. You should always live within your values, and not within your vanity! This is the biggest number that you can possibly get wrong! You want that trip around the world that your favorite billionaire influencer took on Youtube so badly. Geat real! You are not at their level yet. Unless you wait until you absolutely are, then you will blow your Vitality Number right out of the water.
Avoid Fee Drag By Consulting With Wise Financial Advisors
The task of employing wise advisors is mission critical. However, you need to keep a close eye on what they are charging you. You should also keep evaluating it annually. At some point, the value may not be there anymore from their side. Maybe they are not working as hard as they did in the past in order to achieve the results you need. It is so important to shop around, so you can avoid suffering Fee Drag from these providers.
Inflation – The Silent Killer of Your Wealth Bucket Model Investments
You do not need a wealth expert’s advice in order to know that inflation is bad. In fact, it can be a real wealth killer! Keep this in mind as you are calculating your personal Vitality Number. Create a written or printed report of your own Personal P and L. Then, you must examine it in order to find out what that number is. When you stick to that number, then you can never go wrong.
Join Our Community
Do you own multi-family properties? If not, do you aspire to do so one day? Then you should consider joining our online discussion group, the ATL Inner Circle Community! Each month, Rob Rowsell will teach you what you must do in order to build wealth in the real estate business. It’s not as easy as it looks! Property taxes, liens, and legal fees can all be hard to navigate, so having a successful guide in your corner like Rob is a must! Sign up today!
