I went through various “best wealth practices” from a variety of sources and thought I would provide a list for you to evaluate – perhaps there is a practice here that will resonate most with you.
- To become more valued, you need to become more valuable
- You don’t earn what you want, you earn what you deserve
- Get off the transaction treadmill and focus on building your business
- Put everything in writing
- Stop focusing on the commission, focus on the relationship
- Take advantage of time, not timing
- Eat out less
- Play less golf
- Invest more in yourself
- Work your ass off
- Leverage all self-improvement channels
- Patience!
- Get to work an hour early
- Practice a financially valuable skill
- Invest a big part of your savings in a side business
- Invest the rest safely
- Allocate every commission to expenses, taxes, personal savings, and your personal business growth
- The bigger your house, the bigger your debt
- Pay off the mortgage as soon as you can
- Invest early, often, and consistently
- Compound interest!
- 401K
- IRA
- Defined Benefit Plans
- Live comfortably, but not too comfortably
I’m 58 years old and have been receiving your emails for the past 3 -4 years. I have finally decided to make a career change from being a restaurant operator to real estate. I’ve had my license for 4 years, but have jumped back and forth to the food and beverage industry.
I’ve tried residential sales but really enjoy commercial real estate. Can you give me some advice on how to become a competitive multi family and commercial retail agent
Richard, allow me to give you some resources. First, you can check out our programs at http://www.massimo-group.com. I have written a few books on success in CRE, and you can find the links at http://www.rodsantomassimo.com The answer to your question is far more comprehensive than a simple response on a post will suffice. Quick thoughts are to find a mentor in your market and do anything and everything they ask of you. Get to know the market and the ABC’s of CRE and multifamily assets.