Summary of Real Estate Would Fail WITHOUT Wholesalers! Why The Top Producers Make Millions - Ft. @JamilDamji
Main Financial Strategies and Insights:
- Value Creation: Earnings are directly proportional to the value brought to the market. To increase income, one should solve larger problems or provide more value.
- Mindset Shift: Overcoming guilt associated with making money in Wholesaling is crucial. The presenters emphasize that feeling guilty can block financial blessings and success.
- Understanding Transactions: Wholesalers act as facilitators in transactions, providing solutions for sellers who need to offload properties quickly, thus creating value for both sellers and buyers.
- Financial Thermostat: Each individual has a "Financial Thermostat" that limits their income potential. To increase earnings, one must raise their expectations and beliefs about what they can achieve.
- Consistency and Effort: Success in Wholesaling comes from consistent effort and learning over time. The presenters share personal anecdotes to illustrate how persistence leads to significant financial gains.
Methodology/Step-by-Step Guide:
- Identify Your Value: Recognize the value you bring to transactions and the market.
- Shift Your Mindset: Work on overcoming any self-limiting beliefs regarding money and success.
- Set Higher Expectations: Write down your Financial Goals and challenge yourself to aim higher than your current expectations.
- Focus on Consistency: Engage in consistent actions that build towards your Financial Goals, leading to regular wins rather than sporadic successes.
- Reflect on Your Beliefs: Regularly assess and adjust your beliefs about money and success to align with your goals.
Presenters/Sources:
- Jamil Damji
- The unnamed co-presenter (referred to as "Jam" throughout the subtitles)
Notable Quotes
— 00:13 — « You don't get what you deserve, you get what you expect. »
— 03:05 — « If you're showing up with that attitude of 'I feel a little icky,' what's going to happen in your business? You're going to block your blessings. »
— 10:41 — « Money is an energy, brother. »
— 12:52 — « I love Big Macs. They're worth every ounce of the $8 to the $11 that you'll pay for one. »
— 27:25 — « The equation to really succeed and reach all your goals is probably 80 to 90% mindset. »
Category
Business and Finance