One of the things Lou Brown teaches is that he has never been to the bank, he has never qualified for a loan for a single or multi-family property. This is because he learned to borrow money from nice people who want to see their money be invested.
Lou learned this early in his career because he started when he was 18 years old.
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3. Limiting beliefs
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
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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!