Lou Brown is back with more things that he noticed poor people do, and rich people avoid! These are great advice for those who want to improve their lives and get out of the rat race.
What’s great is that Lou has experienced being poor. He knows what it’s like to go to school without lunch money or to hide from the landlord. And yet, he is successful now.
So here’s the second set of 11 things poor people do that the rich avoid from Lou Brown.
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Second Set:
1. Intuition
2. Focus
3. Limiting beliefs
4. Entitlement
5. Following through on ideas Open to new ideas
6. Do the math
7. Saving money
8. Using credit cards
9. Spending money
10. Excuses – Gossiping and news
11. OPM
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#LouBrown #11ThingsPoorPeopleDoThattheRichAvoid
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Hi! It’s Lou Brown. You know, I shared with you 11 things that poor people do that rich people don’t do or rich people do that poor people don’t do. And I thought about 11 more! And I thought I’d share those with you. You know, I grew up very poor. I grew up with a single mom and I was raised in apartments. And I know what it’s like to hide out from the rent man. And I know what it’s like to have no money. And I know what it’s like to take your lunch to school because you don’t have lunch money. And so I’ve had those experience in life. And yet I was able to buy my first house when I was 18 years old. I was able to do that because I listened and I watched what the rich people were doing. And I emulated that and I made some decisions based upon what I did that have affected me for the rest of my life. And these were very good decisions. There’s some I’d like to go back and redo, but others are very good decisions. And I just wanted to share those with you. So today we’re going to focus on 11 more things that poor people do that rich people don’t do.
One is Intuition. Intuition is a wonderful thing and I believe it’s a skill that can be developed. Listen to yourself. There is an inner voice. There is a resonance in your body. There is a communication with others that you can have that are telepathic communications. When you are listening to someone and you know, they’re authentic, then listen to those people. Those people are telling you the truth. And often we can tell the truth from a lie. And sometimes we don’t want to believe it. Sometimes we go along with what someone’s saying, because we want it to be true, but inside we’re hearing that it’s not true. And that’s what I encourage you to do. Just listen to that inner voice and know that there is an answer. Sometimes I’ll go to sleep and I’ll pray to the universe and I’ll say, hello, this is on my mind. And I’ll wake up with an answer. So always take advantage of what God has given you right here in your own body, the ability to discover what’s true. And what’s not true.
One of the things I discovered that helps me to be successful is a thing called Focus. And I say, what you focus on, occurs. Many times people take on too many things to do and they lose focus. And what happens is none of those end up being great. So I use different parts of my day to focus on certain things. So that that’s what I’m doing at that time. And I even use my planning to plan in advance that I’m going to focus on that during that day or during that hour so that everything else is ruled out during that time. And that single focus brings in so much new energy and information. What you focus on occurs.
One of the things that poor people do that rich people don’t do is have limiting beliefs, meaning that there’s a certain level that you can attain or a certain belief that you think to be true and rich people don’t have those limiting beliefs. So in other words, if you think you can only make $50,000 a year, guess what? That’s all you can make. If you think on the other hand, you can literally make millions of dollars a year. Then guess what the universe aligns and gives you the path to be able to take, to have that happen. So limiting beliefs is a big thing to get rid of in your life. If you have any of those. And if you don’t, Hey baby, the sky is the limit.
You know, having been brought up poor, like I was back in the day when they didn’t have any government programs. Basically again, if it is to be, it is up to me. Is one of my favorite sayings. My mother didn’t have the ability to tap into any of these programs. She got up and went to work. And that’s what I got to see. Is that there weren’t any other options. It was get up, go to work. You get a check. You’ve got some money to pay the bills. Buy some groceries. And that’s what I encourage people to do is don’t have those limiting beliefs. Don’t have yourself in that position where you’re entitled to anything. I don’t believe in entitlement. I don’t believe that I am entitled to anything that God put us all on here on this planet to learn. And there are certain lessons that we’re here to learn, and I’m not entitled to anybody else’s time, energy or money. But I am entitled to my own time, my own energy and my own opportunity to create money. And one of the things I believe is it’s all available for all of us.
Sometimes in life. You know, I’ve seen that poor people have a belief that there’s only a certain thing that they can do. And I believe that there’s many different options and opportunities available out there. I love to take my real estate business and add to what I call different profit centers. And so each one of these different profit centers is services that I’m providing. Either to sellers, to buyers or to lenders. And these various services produce extra side residual income that come into our business. So don’t limit your beliefs on other opportunities that are available for you out there. There’s many things that can add to what you’re already doing. Now, if you’re in a full time job and you love that full time job, I say, great! And get yourself a side hustle, get yourself something else that can produce some income. And more importantly, residual long term income. Now, one of the things I love is real estate and I love the residual aspect of real estate. The fact that I can invest some time now and get paid on that time, month after month after month after month, year after year after year on that same asset. Now imagine that you acquire additional assets. One on top of the other, and you’ve got an amazing future coming your way.
One of the lessons that I see that a lot of people don’t do is that they don’t do the math. The math is a very important thing. And unfortunately, people jump into something. They might have an idea in their mind of what they’re going to make on a certain endeavor, but they really haven’t penciled the numbers. One of the things that I created years ago, like in 2002’s was a cost to sell worksheet. And I realized that, Hey, everything that I did in the acquisition of that property was going to show up in the sale of that property and all the expenses that I had. If I didn’t anticipate those expenses, I was definitely going to pay the price at the time that I sell that property. So I started doing the numbers and that cost to sell worksheet became so valuable that I made it part of my system. So now I literally give the cost to sell worksheet to my seller and I have them help me fill it out to determine exactly what is going to cost us to sell their property when we acquire their property. And then that helps us to get to a bottom line number that we can offer them. So do the math is a very important thing in any type of business that you get involved in, in any type of endeavor that you get involved in.
Saving money is a big deal. And it’s something that poor people often don’t do. And it’s such an important thing. You know, there’s many things that attract us. There’s many things that we can purchase at a given time. And one of the disciplines of life is that, when you can save some money, put it aside, know that having that money can be invested and that investment can return an investment and income for the rest of your life. So saving money can really help. And it helps you to be able to pay for education, tools, training technology. Those are all things that are important to building a solid business. So saving money is a good thing when you’ve got the opportunity to do that. Now it’s not that hard. You simply take part of your money and you discipline yourself that that money is not even available.
So you tie to yourself at least 10% of any check that’s coming in, put it over into a savings account. Don’t even touch that money. Pretend the government took it from you like they do with withholding, right? They take it right out of your paycheck. You don’t even get to see it. They take it and then you have to apply to get it back. So this is much better when you’ve actually got the money set aside and you’ve got access to it when you can invest it. Not buy toys, when you can invest it, there’s always a time for the toys.
Now, one of the things that I teach is that I’ve never been to the bank and I’ve never qualified for a loan on a single family or small multifamily property. And the reason is I learned how to borrow money from nice people. People who have IRAs, 401ks, personal funds, that they would love to see invested in something that they’re going to get a return on at market rates. And so sure enough, I mastered that early in my game. And the reason is because I got started at 18 years old and nobody would pay attention to an 18 year old or give them money. And so I didn’t go to the banks and I learned that I didn’t have to go to banks. And when I did have a cash deal, if I could clearly show that there was equity in that deal, the money was always available. It was not an issue for me to be able to go to someone that does have money sitting in a checking account or retirement account and show them that I can give them a return. And that there’s something that their money is safe in investing in. So definitely stepping back from your world and looking at things from a different point of view is one of the most valuable things you can do. Saving money is very important!
Now, another thing that I see people do is instant gratification, right? As you see it and you buy it. So spending money is another thing that I see poor people do, that I see rich people have some restraint around. And by that, I mean, if someone has used the sweat of their brow, they have worked hard. They have built a business they’re careful about when they spend their money. And when they do have that chunk of money built up, then they can go buy the big toys. I told my wife early on in the game, I said, we’re going to go through a financial sacrifice. Period. And that means we’re not going to buy new cars. We’re not going to buy new homes. We’re not going to take this money and fritter it away because what we’re doing is getting rid of the future, that that money can produce.
What we’re going to do is get by on as little as possible. Buy used cars, buy them cheaply, run them into the ground, get another one until we get ourselves to that position where our investments are producing an income on a monthly basis, that takes the place of our jobs. Well, that can happen soon in your life. It’s amazing how quickly I’ve been able to help people get there. I’ve been able to help people get there in a year. And it’s amazing! Just what can happen when you start producing that dependable, predictable, monthly income, you can leave that job. And what happens is now you’ve picked up all those extra hours that you can invest in your business. So spend money wisely!
You know, one of the things I’ve seen that successful people do is they pay attention to life and they don’t make excuses. In other words, if they’re late for something, traffic, they didn’t get something in on time. They’ll embrace it and tell people the honest truth. They didn’t get it done. They weren’t there on time. Unfortunately ran into traffic might say something quick like that, but not using it as a big excuse or some long story about how it went. So give up making excuses for things, embrace the fact that something might happen and share that with other people. And the other thing is gossiping. First of all, gossiping takes a lot of time. You’re talking about somebody else and you have to find a willing audience. Somebody that’s going to listen to the gossip in the first place. And one of the things that I’ve discovered about gossiping is that it’s actually trying to take power from the other person.
So let’s say that you’re gossiping about your boss. You’re really trying to take power. You’re trying to bring that person down to your level or even below your level. And that’s the worst thing you can do. If somebody is above you, you want to be up there with them. So you want to do whatever it is they’re doing, and you want to get on their good side. Do all you can do to be on someone’s good side, to move and elevate you up. Ask them questions. Don’t talk about other people. And don’t try to take somebody else’s power, ask questions of successful people. How did you do that? Where did you get your information from? What did you study? What would you say is something you’d do differently this time? Put questions to people that are successful and don’t gossip!
We always hear this term, other people’s money. And one of the things I say, well, if you’ve got money yourself, you need to be investing that first, before you get other people’s money and become a master asker. Ask people, Hey, do you know somebody that might have some idle funds, some IRA, 401k, personal funds that they would love to deploy. Earning market rates instead of 0.0% in their bank account. You know, quick question, just to talk to people, asking people, do they know somebody that. And using other people’s money can leverage your business dramatically because now using the skills that you’ve learned, for example, finding deals in real estate. You’ve used those skills now if you just had the cash, you could do that deal yourself instead of flipping it out to somebody else. One of the things I love to do is the buy and hold strategy to be able to hold onto properties long term and produce income forever. And that’s certainly something that can come from what I’m sharing with you.
If you found these tips helpful, great! I hope it’ll make a difference in your life. And one thing I’d love to share with you is my upcoming Millionaire Jumpstart. Now this is a three day training. I’ve been teaching people for years, how to build amazing multi-million dollar businesses. I’d love to show you how we buy, right. And we buy cheap. How we create income to get out of the job. How we use tax benefits to legally reduce our taxes. How we, the bank for our buyers. How we pay down, pay down and pay off our mortgages and get freedom sooner. How we use profit centers to accelerate our cash flow. And how we protect our assets by avoiding lawsuits. And these are the things that I’m going to cover during my three day event. We’re going to focus heavily on the buying side. We’re going to talk about selling and holding your properties. And then we’re going to talk about protecting all that you create using an amazing thing called trusts. Land Trusts and Personal Property Trusts. So this three day event is very important. I’ve got all the information right here. I’d love to see you real soon. Yeah, baby!