Epic Real Estate Investing - Why You're NOT Financially Free... Yet! with Patrick Precourt | 838

Episode Date: November 16, 2019

This Saturday, Matt is joined with Patrick Precourt, a director of inspiration at Precourt Enterprises, whose goal is to help you discover, design, and implement a path to true wealth and abundance by identifying your passions. Matt and Patrick discuss the reasons why you are not financially free, yet. More specifically, what questions you have to ask yourself in order to reach your goals and what are the 4 steps to reach that desired liberty. Learn more about your ad choices. Visit megaphone.fm/adchoices

This is Terrio Media. Success in real estate has nothing to do with shiny objects. It has everything to do with mastering the basics. The three pillars of real estate investing. Attract, convert, exit. Matt Terrio has been helping real estate investors do just that for more than a decade now. If you want to make money in real estate, keep listening. If you want it faster, visit R-E-I-A's dot com.

Here's Matt. Okay, welcome to the epic real estate investing show. I got a really great guest that has come back to join us. And I just, I keep inviting them back because I just feel so good after we talk. And I wanted to talk to them today. So before we start, though, a new sponsor of the show, new private money. So if you're struggling with finding private money or it's just been a big mystery, like how do you find this private money? or maybe your credit score has been holding you back and you're sick and tired of begging your friends and

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and that money will step forward for it. That's a smart sponsor It's coming to you right now with the base that you have and knowing that, you know, a lot of your listeners right now are in need of financing. Because the opportunity just trust me on this one, man. They're coming away in masses right now. It's kind of nuts. Got it. Well, that's why I, this is why I had this guest on because he's just always right on point.

So thanks, Patrick. Let me pay a couple more bills and we'll get to you, okay? But nicely done. So that's at new private money.com. But we all know for you to access private money, be able to use it, you got to be able to find the deal first. And I just started working with this new service. Very cool. It's designed.

It's a direct mail company. It's a mix of direct mail text and emails designed just for people with small direct mail marketing budgets. And they set up these auto campaigns for you. You just set it and forget it. And it just happens. And you build a relationship through direct mail. not to mention they have probably the cheapest skip tracing fees that I've ever seen. I think they've got it all the way down to seven cents a lead.

And I think just six months ago, everyone was charging 30 cents or all the way down to seven cents. So it's a good mix. In fact, it's called mailmix.io. It's direct mail, text, and email sent automatically over time to help you get deals to make your phone ring. So go check them out, mailmix.io. All righty. You already heard a little bit from him. He's raring to go.

Because his goal is to help you discover, design, and implement a path to true wealth and abundance by identifying your passions and exposing and conquering your fears, clearing the wealth blockers in life that prevent you from achieving your true potential and igniting that burning fire inside to become the leader, an entrepreneurial powerhouse. You were designed to be the entrepreneurial powerhouse that God wants you to be. So please help me welcome back to the show, Mr. Patrick Precourt. Patrick, welcome back to the FDLSA investing. Yeah, ready to rock and roll, man.

I'm excited to you. So that's two guests in a row that have applauded themselves coming on. So this is good. We're on a roll. So anyway, Pat, welcome back, bud. What's up, man? It's up, man. Just rolling and wrong.

It's kind of funny. I don't know how long it's been since we did this, maybe a year or something. Yeah, eight, nine months probably, yep. Yeah, and at that time, there's such a, there's all this discussion around recession, right? And you and I had to talk about it. that. And I said, dude, trust me on this one, man. We're not near a recession yet. And if you want to debate that, let's debate this. But here are the markers. We talked about some key indicators and no, we ain't there yet. You know, we're coming into an unprecedented time. I know those

who do track and stuff or wear this, you know, we've never had a recovery like we're in right now. And we've never had a geopolitical influence like we have right now. I just got this out of the the New Home Builders Association that 2020 through 2022 are expected to be the largest boom in new new construction ever, ever. And now these are coming from, you know, relatively conservative viewpoints because, you know, they really got to be, because they're in a speculative space more than they are in the investment space. You know, when they buy a piece of property today, that doesn't pay out for another 18, 24 months

because they build out in advance, right? Right. So that's just another validation that the opportunities are still to be had. One other thing, and then I don't want to make this whole discussion on the threat of a recession. There's two key points about this recession when it comes. Number one, recessions aren't bad. We have this negative effect around, this negative thought period around a recession. Recessions aren't bad.

They're a cleansing process. It's kind of like the ocean, man. When a tide comes in, it's got to go out in order to come back in. It ain't bad, right? We just think it's bad because many of us, you included, live through the last one. We're in the real estate space during the last one. And the last one was deep, right?

But anyone and everyone who's in the space of trend forecast economies and recessions and where we're going, all are congruent in the thought that we will be in a recession like we should, and it will be short and not that deep, right? So I'm going back on record right now saying, dude, we're proud. probably still 18 months out, at least maybe 24 months out to we're going to experience it. And the experience is going to create more opportunities than we even have now. So it's not a bad thing. Stay tuned for more talk on you'll, and you and I will do this again, maybe a year from now.

Six months or not. Talk about those opportunities, right? Absolutely. Absolutely. I couldn't agree more. And I did not know this about the new construction coming, the biggest. It came out today. Yeah. Oh, well, that's why I didn't know about it. But that doesn't mean you think because it could happen last week or last month. I might not know about it. But I think that's, I've kept it really simple with my whole forward-thinking view on real estate is that each generation is just a little bit bigger than the previous. You know, ebbs and flows and dips here and there. And those people, they need places to live. They need shelter. And so when the demand is growing and the supply is fixed, that's a good, a

that you want to be in as far as the supply side goes. So, amen to that. Patrick, sir. You know, I was doing a little research on the podcast earlier. I was trying to see what types of topics and subjects were really resonating with the audience. And really the only indicator I have or the only tool I have to do to measure that with is to go and look at the downloads. And so I went back for about 12 months of episodes and I just kind of zeroed in on the actual total download numbers. and then I tried to see if I could find a commonality between those subjects.

And ironically, I don't know if that's irony, maybe it's not irony, but what I did notice is that any title that had the word either passive income or financial freedom or something along those lines were the most downloaded episodes. Interesting. Yeah. And so I think that's an indicator as, you know, we're all attracted to things that we don't have. We all admire people that have qualities that we don't possess, right? And when I see that, it leads me to believe that there's a lot of people out there that want it because they don't have it, right?

And, you know, that's probably not the biggest epiphany that I could have ever come up with, but it is pretty telling. And it's something that people want so badly to the point that they just don't have it. So I know you interact with a lot of your private clients and you've coached people to great success and great wealth. And I don't know. Let's talk about why so many people don't have it yet they want it so badly. Let me ask you a question. We'll start this conversation here. So just to put context to our listeners, right?

I'm also in a gym business. I call it a lifestyle fitness center that has the heart and culture of a martial arts. So I use our gym, 650 members or so. as a human laboratory for performance, right, for behavior and then behavior into peak performance, maximizing what we're capable. So here's a typical scenario, and I'm sure you can relate to this, right? Guy shows up to a gym. He's 45 years old, out of shape, hasn't trained worked out since forever, says, man, I want to lose 30 pounds.

Fantastic. That's awesome. And I got good news for you because we're an expensive gym. You don't need me. I'm going to tell you what. You sit down at our computer right there, spend 10 minutes Googling, put in that you're 45 years old, that you weigh 270 pounds. You want to lose 30 pounds over the next.

Give yourself six months. Six months is easy enough to lose 30 pounds, right? And just ask Google what you have to do for a workout and what you're going to eat, and they'll give you everything you need. Boom. And it won't be just garbage. It'll be usable information that you can apply today. Right.

I'm like, you don't need me to tell you what to do or how. how to do it. So why are you here? And this is such a fundamental question. Whenever we're trying to get something that we don't have is answering that question, not what to do and how to do it. That's never, ever, ever, that part of the equation that's missing because it's too readily available in today's technology world. The bigger question starts with the why. The why leads to meaning. okay because of why and you know you've been asked this question and you've asked up those question you know what's your why and it's a it's a fair enough question but we don't go deep enough in the answer was it my my wife my husband my you know my kids so forth and so on

but it doesn't trigger an emotional connection to meaning yet right right so as we start this conversation let's embrace the idea that whatever it is you want, I want, our listeners want here. They want financial independence, right? They want passive income. The solution is not in the how to do it and what to do it. And that's where I kind of want to take this conversation, if that's cool. Sure.

No, I 100% agree with you. I mean, if someone has a full calendar and not a room for a darn thing, but they bump into a special someone and they acknowledge their invitation, is accepted to go out on a date, right? So they know they got a hot date five days from now. They will move mountains. They will go get their hair cut. They might go buy a new outfit.

They'll go and they'll make reservations and they'll make all this stuff because that's really important to them at that moment because like you just said, that there's an emotional attachment to that significant enough to where nothing else matters. Meaning. Meaning. Yep. Yep. That's the part of the matter.

I use this example all the time because it's just easy. especially for parents to relate to. I said, you know, Matt, if you're walking down the street, you and I were walking down the street, and we came up on this house, it's on fire, it's blazing, flames coming out of the roof. I said, dude, I left a package on the counter in the kitchen. Can you go in and get that for me?

You'd be like, love you, brother, but no. I'm like, man, I'll keep you $100. You'd be like, no. Give you $1,000. No, there's nothing I could give you to go in there and get that package, right? But if the package changed and it was your child, to Matt, man, the only way your child's getting out of that, you get in there now,

before I even finished, you'd be through that door, right, saving your child. You couldn't pay me enough to not do it. Right. The circumstance didn't change. The only thing that changed was the meaning behind the doing of the hard work, so to speak. Right. And I know that's an extreme unrealistic scenario, but if we take that back into everyday life and we look at the things we want to do, we know that are good for us,

We even know how to do them, we still don't do them. We can boil it back. There's not enough meaning to do it, right? And that's part of this whole discussion here, part of what it takes to deserve in our lives what it is we don't have. I'm going to say something really bold, right? And not everybody's going to agree with it, and that's cool. We're not all made degree, right?

But I'm going to tell you, and there's no different from me, that we all have in our lives everything to the exact degree that we deserve it. We all have in our lives everything at this exact moment that we deserve. And this I'm talking about you have the body you deserve, you have the bank account you deserve, you have the relationships that you deserve, you have the amount of fun and excitement in your life that you deserve. Your schedule is exactly what you deserve.

Right. Define the word deserve in this context. Deserve simply means that everything we have is a function of what we've done. Decisions we've made in the past. We create our reality. Now you may say, but so, no, stop, just stop. The second we say this out here, cause this, we give up control. We become the victim.

And in doing so, we are subject to, someone else deciding our outcomes. And this is a decision we got to make, man. Do we want to play the victim role? Or do we want to appreciate that everything that happens to us and for us and sometimes against us is a function of a decision we made leading up to it? You may not have chosen, you know, getting robbed, right, at 10.30 night on the street, but you chose earlier to be there.

Right. That decision altered this outcome. So if we take hold of the fact that all of our decisions matter, and they do, they all matter, every decision has a consequence. It has a ripple effect. We can appreciate that. We can start to embrace the idea that, you know, the universe gives us exactly what we deserve. And quite honestly, the universe is ruthlessly abundant and ruthlessly generous. Yeah.

Think about that for a second. Sometimes I say it's unfairly fair. unfairly well well that's the accountability part because when we you know feel think and act in a certain way that's not congruent with what we really say we want the universe is going by the signals that we're putting out right we think and feel and act in a way that's that that as contrary to what we say we want well they're going to give us what we're really pushing towards which is not what we're saying you know right you know that and that's why when we talk about affirmations and make no mistake,

affirmations play a role in our world, right? Because it helps the descent of the thought part of it, the mental part of it, gets our brain to be working in the right direction. But when the way we think is at odds with the way we feel, it's a positive and a negative, the negative always comes out on top. So you think you are the right person to have this, but you don't feel it, you don't believe it.

Guess what? That will come out supreme. And your actions will be a function of that. Right. That all kind of makes sense? 100%. So first reason you're not financially free yet is you don't feel you deserve it. Well, we don't deserve it.

I don't care if you feel it or not. Just flat out. Got it. If financial freedom is the thing. right, that we're striving for and we are not financial free, simply because we don't deserve it at this point in time. What we've done up till now are decisions that have led to our actions, that have led to the way we experienced life,

are not congruent with being financially free, right? Whether it be our spending or a lack of savings or our poor investment choices or our unwillingness to do the hard work, even though we're not passionate about it where they go, oh, no, we're not passionate about not doing that. Well, that's kind of bullshit because you're passionate about financial freedom, This is a rung to get there, right? Stop stepping over dollars to get to the dimes here.

Do the hard work. And if we're unwilling to do that now, yeah, we haven't deserved the right to be financially free. They've deserved the right to have enough passive income, but we don't have to work doing stuff we don't want to do. Right. And an interesting discussion with my son. We're driving out to Breckland, Rouge, Colorado about this exact topic about, dad, everybody, all, you know, all the gurus, right? They only do what you love and love what you do. And I'm saying, that's the most asinine thing I've ever heard in my life, right?

You should be aimed. You should have a lighthouse that guides you every day towards doing what you want to do, what you love in life, right? But you're going to have to do a lot of stuff that you do not like along the way in order to get to that thing you love. But here's the magic in the mat. If we can appreciate that whatever this day job I'm doing, say you're still working a 9-5 job, but you want the life of an entrepreneur,

Pinawa, you want the life of real estate investor. You want the passive income from this downroads. You can be financially free. Don't hate on the job that you work every day. Even though you don't like it, respect and appreciate it because it is a stepping. It's allowing you to pay your bills as you do your side hustle at night, as you find your first deal so that eventually you can get the hell out of it and get what you want. And if that job wasn't there, you'd be dead in the water.

And once you can appreciate it for the people. piece of the puzzle that it plays, you can show up at work with absolute gratefulness for it. And guess what? The job starts to change at that moment anyways. Still don't have to love the work. But when you're grateful for the work, right, it changes everything around the work. That kind of makes sense? 100%.

It's an amazing transformation that's made. But when we show up, you know, kind of like, oh, I have to go to work. And that mindset, yeah, it's going to suck. And you're going to find things that suck about when you show up. But I get to go to work. even though I don't like the work, that's irrelevant. I get to go to work, which means I get to continue on my path, working towards the financial freedom dream that I have.

That word get is a really powerful one to interchange with the word have, right? Big time. Yeah, I frequently catch myself. I've got to stop myself because I'll think, oh my God, I have to pay payroll this week. You know what I mean? No, I get to pay payroll this week and look at all the lives of my employees and my team. that I get to support, and that's a real privilege.

The other word that you had said that that stood out to me was when you brought in the word victim. And I was an avid listener for about four or five years of Adam Carolla's podcast. And it was just kind of my escape from thinking about anything to work, and I could just kind of focus on entertainment. But he always had this one thing, and he'd say it, I don't know, once a month, twice a month maybe,

that he's never seen a wealthy, victim, right? And he talked about what you said about control and internalization. So let's talk about how we take control and not be a victim. Yeah. So let me take one little step back here. Sure. So and I now to be fair to the conversation, right, there's two different definitions of victim. There's the victim that was raped, right? We're not talking about that kind of victim. We're talking a victim as a state, a mentality. Victim believes the world happens to them, okay? When in fact, we happen to the world.

We radiate an energy all of the time. We are the catalyst for change around us. And when we walk around in that state of mind, right? Well, that becomes our truth and our reality versus the one that says, well, I'm just going to sit here like a leaf on a pond and wait to get pushed around by the tides and waves and wind. And if that's our belief, that too, is our reality. So let's just be crystal clear there.

That's the victim we're talking about, right? And a victim mentality means we are not in power, we are not in control, we are subject to the circumstances in which we live. And now, even in a, when you're in a state, you're not a victim, you're in control, there are still circumstances that are outside of our control, but we are in control of the influence of those circumstances on us. We can decide how the uncontrollables affect, us. Therefore, we are still in control of our ultimate outcome, how we experience life on a day-to-day

basis. So it's easy to get caught up. Well, I couldn't change the weather, and therefore, I was late for work. It snowed, right? Right, you couldn't change the weather, but you could have prepared for it, or you could have the right vehicle to drive in the snow, or quite honestly, if it meant enough, you could have left a couple hours early, and then the first one at work that day. There's a million ways you could have changed the influence of the bad weather on you whether or not you showed up at work. That's a non-victim approach to a victim is, now my fault, snow, car accident, traffic, I'm late, sorry.

Blame the weather. Do you see the difference there? 100%. People are, they either walk around as a victim as an effect of this or they don't, meaning they're the creator of this, right? What I'm talking about specifically is the mindset that goes behind being a victim, that everything happens to you, that you have good luck and bad luck and all this other kind of made up terms that somehow are things that we're not of your doing. They happened to you. That to me is a victim.

Right. Now, let's go one layer deeper because this is the part that gets a little challenging for us. And this has nothing, this part has nothing to do with how successful or not successful you are. This is relevant to how in control you are of your life, right? Because the discussion, a lot of this is around how do we close the gap between wherever we are here and financial independence, right? And I like to start that discussion always with, well, let's appreciate that we are right now exactly where we belong because everything we've done up till now is put us here perfect and it doesn't matter on the spectrum where that is it only matters that we embrace that because that puts us in control

right and the second we say no not my fault we give up control because if we didn't if we didn't cause it to happen to us then how the hell are we going to change it right but if we appreciate that it's all of our collective decisions leading up till now i mean if everybody listening were to look at their body their body would be a direct reflection of their activity decisions and their eating habits. That's it. They have the body they deserve, right? If you want six-pack abs and you don't have them, you don't deserve them now.

It does not mean you're not worthy of them sometime in the future. So it's not, you know, misinterpret that foundational position. Okay. Now, so we start with the deserving part. And we got to say, well, what's next? Now, if I said, Matt, and you could do this for any one of your clients. Matt, take their, get a financial snapshot of where they're at, get an outcome of where they want to be, you know, income, outcome, all that kind of stuff. And create a map of what to do and how to do to get them there in the next five years. There's very few people listening that you could not create a definitive path to financial freedom in five years.

Right. I know that to be true, right? because of what you know and what can be done in the space of real estate. It's not that hard, right? If that's true, why does so few people achieve it? Why do so few people even do the work to get there? And that's the part I want to take on next, right? You understand why we're not there yet?

Well, we just haven't made the right decisions yet. We haven't taken the right actions yet. I'll go back to the gym analogy for a second. That same guy who came into my gym. I want to lose 30 pounds. I already told them you don't need me. I can show you where to get all the information of what to do and how to do. In six months, six months is not a long time, right?

I've been off to do it in six weeks. Shit, you spend 40 years getting fat. Give me six months to lose 30 pounds. Fair enough, right? Right. Question I was asked. I said, why are you really here? You know it's good for you.

You know you want it. You know exactly what to do. You know your wife is going to be. you're super, super proud of you and excited to have you 30 pounds lighter, why haven't you done it? It ain't that hard, right? And that's the question. We all have to ask ourselves, not what to do and how to do and I'm not smart enough to get off of that bandwagon because it doesn't get you to the right answer. We really want this thing we've never had, right? We've got to get to this bottom line. And let me pause that thought for a second, inject this, right?

in order to have something we've never had, we've got to do something we've never done. We've got to embrace that, right? In order to have something we've never had, we've got to do something we've never done. In order to do something we've never done, we've got to first become someone we've never been. And this is starting to answer this question for us.

We always look at the goal, Matt. We look at that goal looks so good. It's exciting. We've all hyped up New Year's resolution. We focus on the gain of play. pleasure. But as soon it's the excitement and motivation wears off, and that's just a short-term little burst, right? We quickly focus on the hard work, neither of which really move us along, when in fact what we should be focusing on in order to have this thing, our focus should not

be on the have. And it shouldn't even be on the do. It should be on the who do I have to become in order to do the hard work, the what and the how, in order to deserve what I want to deserve. Right. Right. We try to skip these two foundational pieces first. So the question we've got to ask ourselves every single morning, once we've laid out the outcome, the goal,

and we've decided we put together the strategy that you could draw up for them in a heartbeat, right? We know what to do. We know how to do. We know the outcome. The question we've got to ask ourselves, who do I got to become in order to do this in order to happen this, right? That's where this whole thing begins. And a problem is we're not taught to operate that way. Let's just set a goal and create a business plan and get all this stuff and

study and learn and learn and study and study and study and study and study and learn and just go, well, that's not the hard part and it's not that easy, right? We've got to go to one layer deeper. And then that brings us back to why don't we do it. I'm going to try to answer this part the best I can, right? We are creatures of habit because our brain cannot make all the decisions that got to be made every day. It's just not, we don't have enough RAM to make all those decisions. So about 95% of all the decisions we make every day, autopilot, subconscious, right, memory. same as yesterday.

And that's why the familiar past becomes a predictable future. Now, one day you wake up, man, I want the predictable future to be different. Well, you can't have a different future from the same past. It doesn't work that way. And the past, of course,

and this is where we get into some really weird semantic games, right? I could tell you that, Matt, you know, the future really, in the world of like quantum science, does it mean exist? It can't be identified. It can't be proven. There's no way to measure it. There's no way to define it. And if you can't do any of those things, it doesn't exist in a world or the only time that exists right here now. I know. Yeah. Right. So taking that into consideration means that, well, that means our familiar past, becomes a predictable present.

Our past determines what we do every day. And that is 100% true up and until we do something really, really major to disrupt it. Now let's talk about habits for a second. Habits are memories. Memories are memorized in the form of emotions. Emotions communicate with the physical body

through chemicals. emotions, trigger a chemical production. So every memory has a chemical map to it. And this is why go to the extreme, people who have had traumatic experiences in the past, can get triggered and it go immediately into that emotional state because the same chemicals are produced in our body. So they're responding the same way, right?

And here's the weird part, man. Body does the difference between the first experience or the reliving of the experience, right? So here we are, man. All we're doing is repeating the past. Let me ask you a series of questions here. Do you think that the way you feel affects the way you think? Oh, absolutely. And do you believe that the way you think affects your decision making?

100% and you believe that the way that your decision making is responsible for your actions totally and your actions for your results yep good so you agree there's a direct connection now stay with me on this guys because this is the thing direct connection between the way you feel and the way you experience life the result that you get because you just said you're the way you feel affects the way you think, the way you think, affect your decision-make, your decision-making, your action-taking, your action-taking your results. Now, the way we feel is directly responsible for the way we experience life,

the results we get. And if that's true, right, and the way we feel is nothing more than a memory of the past, 95% of it through habit, right, means that we're going to be stuck in the past forever. We've got a problem. Now, let me inject something here. And this is the beginning of all change. Okay. You have a dog?

I don't, not right now. You have a cat, guinea pig, anything? No animals, no. All right. The dog that you don't have. I've had dogs. The dog you had. Your dog can only respond to its emotional inputs from the outside.

It can't strategize. It can't plan. It can't delay. It can't rethink. It doesn't work that way. It's just very responsive. Okay. Emotion, thinking, decision, action, result. That's just how it happens. Automatic. Bam, right? Very responsive. That's why they're so trainable. It's beautiful. We are unique. When I say we humans are unique and in the fact that we're the only mammal that can interrupt that process. Matt, when you're triggered in an emotion and our emotions get triggered all the time and it triggers a bad thought and you know that bad thought's going to lead to a bad outcome if you follow through it. You can stop. pause, think about what you're thinking about, focus on the outcome that you want,

inject a new thought, which triggers a new emotion, which refers back to another thought, decision, action, desired result and outcome. Let me say it one more time, okay? You have an emotion that kicks into a pattern of the past that did not get you the result you want. You want a new result. This could be waking up at 5.30 in the morning. You want to start going out of the gym.

The alarm goes off. The immediate emotion is it's cold outside. I don't want to get up. I'm tired. My bed is so cozy. You're about to hit snoo. You say, stop. Think about what you're thinking about.

Let's put a new thought in place. New thought is, if I don't do this today, I won't do this tomorrow. I'm giving up. I never having a healthy body. That triggers a new emotion. Emotion is, whoa, I don't want to give up. I'm not that kind of guy. That triggers a new thought.

I'm the different kind of guy that gets up and does what he says. That triggers a new decision to get the hell out of bed. A new action, you get up. New result. You show up at the gym. You started. A new piece. pattern and everything you do today gets easier to do tomorrow.

Works both ways. Yep. When you avoid something today, it gets easier to avoid it tomorrow. When you do the hard work today, it gets easier to do it tomorrow and starts the process, right? So the takeaway here is we are driven by emotion. We're very, very emotional mammals, right? But we have this unique, magnificent gift to be able to stop our emotions and not let our emotions dictate how we live our lives.

If we could only control the gap between the way we feel and what we do and not let the way we feel affect what we do, we would win all these games of goal achievement. This is the one thing that separates us and the outcome, provided it's a goal that we want, right? Does this all make sense? Is this going crazy on you? No, no, I totally get it.

Let's narrow it in now to based off of all of this insight. and the distinctions here. Let's make it actionable. Good. What are three actions someone can take to now start moving towards their financial freedom? It's just maybe three or maybe a couple more, but there's a little.

Three always sounds good. What is the desired outcome? And this is not make money. This is what the money does for you as an example, right? I want to be free to blah, blah, blah, blah. What is the desired outcome? right in the weight world the desired outcome would be i want to freaking uh i want to be as healthy as i was in my 20s all right good that's a desired outcome right get clear on that then ask

yourself crystal clear man once you go through the easy part the what and how to do that ask you who do i got to become who do i got to how do i got to show up every day and this i'd like to break down and like creating three definitive words that have become morning triggers for you I got to be disciplined. I got to be focused. I got to be committed. Whatever they are that serve you. And really what they're doing is you're highlighting the weaknesses in your game.

Right? And for a lot of people, yeah, they just lack discipline. They're too freaking soft. And I'm not saying in a negative way. It's just true that we're always looking for the easy way out, right? Discipline is doing what you have to do, when you have to do it, even though you don't want to. Discipline does not equal freedom. Discipline is the opposite of freedom, but it's a path to,

freedom. Discipline creates habits. Doing the hard work to becomes a habit. And it's a habit that is our path to freedom. Does that kind of make sense? Yeah. Disciplines the opposite. We're doing, this one is doing what you have to do when you have to do it, even though you don't want to. It's the exact opposite definition, right? So we ask that question, who do I have to become? Book, pin that up here. Every morning, every single morning, record. How did I do in this department and yesterday and remind yourself you've got to be there today. Next one, okay, is that a little emotional connection we talked about, right? This falls under the topic of emotional intelligence, EQ, right, which is the one thing that's left out of all of our school system from kindergarten on up.

This is how they control us without getting way off on that. There's a very real reason why they do not want an emotionally intelligent population because they would not be able to control us with emotion. Did you know, if you look up to the top Fortune 500 companies, something like 90% of the CEOs rank extremely high in EQ, emotional intelligence, and average in IQ. Yet we're taught just the opposite. Like, it's all about IQ. It's all the, about the rate at which you learn. No, the what and the how is not the problem. It's our ability to control the gap between how we feel and what we actually do. So understanding that and becoming aware of your emotions

and being on a pause, right? That road rage thing that you excuse off is, oh, it's just road rage. No, that's bullshit. You're addicted to feeling bad, that adrenaline rush, but it's going to get you in trouble, right? So own that shit. Next, here, this is the big one.

We touch a little, this is the third one of these four steps. First one, right, is it kind of how do I got to show up? The second one is controlling your emotion. all the time so you make the right decisions so you deserve the outcome that you say you want so bad Third one is when we already touched on this we're gonna call it out is meaning There's got to be a real reason why You're gonna put in this time effort energy commitment sacrifice to get it and this is needed Matt when they go and get stuff It's not needed when you're motivated and excited and it's all sunny out right? This is when things get ugly

There's got to be meaning to get you to go into that burning down fire that burning down house. There's got to be a real reason or he ain't going to do it. Right. And then the final one here is belief. Now, I don't think we talked about this, but I got to bring this up. And I've been to this. So I can speak firsthand, right? If I were to ask the question, everybody can answer honestly. He said, how many of you have repeatedly made commitments to yourself and quit on yourself, didn't follow through, gave up on yourself? to the degree that you don't even, you don't even put value in your handshake with yourself anymore.

You don't believe in you anymore. And this is the big one because everything I said up until now, if we don't get this part sorted, falls flat on your face. If we don't believe that we're the person to do it, we're right. We're not. Now, really quick on this, man, this happens as a function of, every time we make a micro commitment with ourselves and we don't break it, It adds to the fact that we ain't the man, right?

Those New Year's resolution that we didn't even begin, we blow them off as nothing, but we're re-cementing that. It doesn't matter because we were never the person doing it in the first place. We will never own our shit until we get this part straight. And this is how we fix us. And this is something you can begin today. Every hour on the hour, make a micro-commitment to yourself, something that you're going to do that you want, that you need, you know how to do.

It's challenging, but you know you can get it done. We're not looking to move mountains here. We're looking to earn back the right to believe in ourselves. And this we can start the moment we get off this call. And you say, well, how often can I make a micro commitment? As soon as you get one done, make another one. And start building it up. And you want to really add power to it.

Start doing things that aren't for you. But you know they bring greater value to the universe. start stepping these up because those are the ones that actually give back way beyond what we can ever imagine, right? Before long, we're like, you know what, I was wrong. I can pretty much do anything I commit to. Now that we've earned that belief, let's not piss it away. Next time we make a commitment, make sure we are all in between men, I'll give you my right arm before I give up on achieving this. Don't piss away that handshake.

Don't make commitments that you're just not willing to do. And you've heard this before, man. Everybody wants to be the man, the girl. They want to be the beast. But then when the work has to be done, they ain't willing to do it with the beast. It's got to do. You know this.

You've been there, but there's a time and a place, man. You've got to get bloody. It ain't pretty. You know, it's part of the job. Make sure that those commitments. that you make to yourself, that you're willing to do that so that you don't give up everything that you've earned the right back to. And then we circle all the way back to the beginning of deserving, right?

This puts you into the arena of deserving men. This is where now everything starts going. And I'll kind of wrap this up with this. There's a state of power and there's a state of force. Force, Matt, is when you work an entire day, an entire week, an entire month. you bust your stones every day, and you don't really have anything to show for in terms of measurable growth. I'm exhausted. I'm tired. I spent money. I did all this stuff, but I'm just not making progress. But you look over there, you look at that person that looks like they have the best luck

in the world. They're not even breaking a sweat. It looks like that the world is just showering down gold on them and they're hardly even breathing. You know, like, what is going on here? Here's a difference, right? When we let the world pull us out of our authenticity, we start being someone we're not meant to be. We start putting on a facade every day to try to be who we think, they think we should be, right? We find ourselves operating in a state of force

when we're not being authentic to who we're meant to be. When we are true and genuine to us, our innate, God-given unique skills and talents, we can operate in a state of power, where all we have to do is do what we do. In a state of force, we have to do what we think everybody else thinks we should be doing, which is so unnatural for us.

And it's exhausting. State of force is constantly depleting a state of power. You're attracting. And that's the ship, all ships rising on a rising tide. We all come up together. Or force is the net zero game, man. Do you go up. Somebody else comes down.

It's brutal. It'll beat you to the ground. At the end of the day, you're always asking yourself, man, what is it that's always hiding behind that corner? I can't see that's knocking me down. That's operating a state of force. I'll just add that to this little equation here as we kind of wrap up the bigger concepts of,

you want to be financially free, right? Everybody, I believe this deep in my heart, everybody is the right to be financially free and is not that difficult, right? But the answer is not out here. The answer is right here. And this, we're in 100% control of, man. Mm-hmm. Mm-hmm.

Awesome. So to become financially free, we've got our four steps. What is the desired outcome? What is it really that you want from the financial freedom, right? Number one. Not the what and the how. That's what is like an address on a map. Where are you going?

Put a date on it. Yep. Number one, what is the desired outcome? Number two, who do I have to become to get there? Mm-hmm. Right. Number three, establish meaning to the work is how I phrased it. Yeah. Establish meaning to the work.

I think the burning building is a great metaphor. It's extreme, but it paints a very clear and compelling picture. And the four is the belief, the belief in yourself. And I always say people won't get started in real estate or they won't follow through in real estate because of one of two things, either one, they don't believe real estate works, but we know that's ridiculous because it's worked for more people than anything else on the planet. Or the second thing is they don't believe that they themselves will work. And you're right.

You said at the beginning or at the end there, that if you don't have that belief in yourself, everything else just crumbles. Step back and you skipped over one, which is our emotional state. Don't let how we feel determine what we do. We'll lose that every time. If we think we're going to always show up motivated, we are dead wrong. Right.

So that was really tight into the who do I have to become, right? You've got to be showing up as disciplined and you've got to be showing up that person, right? Absolutely. Sweet, dude. Well, Patrickprecourt.com. I'm on that website right now. If you want to go and get some more of this goodness from Patrick. There should be a free ebook, just a quick download there.

Yeah. I live big ebook, which is kind of cool. If anybody just wanted a neat little read, I think there's even a poster version in there somewhere. It's kind of cool. Sweet. And you go there. And then if you actually want to talk to Patrick, just answer a few questions on his website. And then you'll be taken to a link where you can pick a time to hop on the phone and talk to this wonderful human being. All right, Patrick. Anything else? What's coming up in the future that you're most excited about? Let's see. We started in on the assisted living space in real estate, man. That's right. You were talking about that last time. Yeah, it's pretty exciting, you know. And it's exciting from the real estate perspective.

been extremely eye-opening from getting into the industry and realizing how poorly we take care of our elders, man. Mind-boggling, Matt. And it's in an industry that's extremely lucrative, but it's almost like we forget about our elders. And I don't want to get into all the nastiness in it, but we are stepping in with the intent we're going to disrupt this. We're going to change it and create an environment that others are going to thrive to step up

to. You know, dude, we're going to treat your mom and dad like they deserve to be treated in the last few years on earth, you know? Nice. And you know, we talked about this. I kind of opened up with it, just the concept of supply and demand, right? Each generation getting a little bit bigger than the previous. And so that assisted living space is not an industry or a niche that's going to go anywhere because that population just gets older and older and older and bigger and bigger and bigger in that population number. So good space to be in anything really in health care, I would think. But definitely growing old. We're all doing it. Dude, I just turned 50. And I'm like, oh, my God, I'm just like a, I'm a few years of being your customer, a few years away from being a customer.

Yeah, right? Yeah. Happy 50th. Thanks, partner. All right, love you, bro. Thank you. I'll see you again soon. Take care. Yeah, yeah, we got the cash flow. Yeah, yeah, we got the cash flow. Yeah, yeah, we got the cash flow. You didn't know home board. We got the cash flow. We got the cash flow. We got the cash flow. This podcast is a part of the C-suite radio network. For more top business podcasts, visit c-sweetradio.com.