5 Wealth-Building Rules from the Rich and Famous!

By Linda Pliagas, CH.t.

One of my favorite authors, Napoloen Hill, famous for his best-seller "Think & Grow Rich", was a journalist who interviewed the most successful businessmen of his time. He promised the wealthiest man in the world of his day, Andrew Carnegie, that he would uncover his sources' secrets of success. As a nationally-published journalist and two-time publisher, I too have interviewed some of the most influential leaders of our day. Read on to find out the success secrets that I have learned from the Celebs and CEOs I have interviewed.

Recently one of my clients fell out of escrow right before closing... As real estate professionals we go through this at one time or another, but let's examine this issue from a couple of different perspectives, shall we?

My client had been researching income property for many months, he did the numbers on numerous properties, and he had been saving his money for the past few years in order to invest. He was so motivated that he told me his goal was to buy one property per year for the next ten years! I found him an awesome fully-occupied duplex rented by professional tenants. The property was $20,000 below market and in turn-key condition.

Everything was great, but then he came down with a disease that many people get before any life-altering event: ANALYSIS PARALYSIS.

"What if the tenants don't pay the rent?" "What if I have to come out of my pocket one month?"

"What if, what if, what if...."

The reality is real estate investors knows that sometimes there will be bumps along the way to financial freedom. Yes, sometimes tenants will try and stiff you. So what? Kick them out, simple as that. Everyone needs a place to live and once a person has an eviction on their record, it will be very difficult, if not impossible, for them to find new housing.

Being a landlord is really not that difficult, but inexperienced investors make the process hard. They focus on the negatives, on the bad things that can happen and spook themselves straight out of prosperity.

The reality is: EVERYONE WANTS TO BE PROSPEROUS. Everyone want to be wealthy, everyone wants to own real estate and have multiple apartment buildings around the country, but not everyone will.

Only 2% of Americans own real estate other than their primary home... said another way: Only leaders are investors. Only those who have a BURNING DESIRE for success will make it. Only those with unbridled ambition will become wealthy. Only true leaders will make it out of the throes of mediocrity.

So, my friends: Are you a leader? Are you ready to take on the challenge of being a landlord? Are you ready to be a leader in your chosen profession? Answer the following questions to see if you have what it takes to live an extraordinary life and gain a level of achievement that everyone covets, but only few will attain.

1. Are you happy with your investments or are you still living paycheck to paycheck?

Leaders do not stay poor for too long. Take for example, Donald Trump. He, at one point, was negative by billions of dollars, yet he bounced back in a relatively short time.

The reality is: When you are a leader, prosperity follows you. A leader has the midas touch. Sure, sometimes they fall in a slump or even undergo economic turmoil, but for the most part, leaders tend to reap financial rewards. Leaders also bounce back quickly from monetary disasters. Often times they become even wealthier after a fall.

A word of caution: Please don't let childhood poverty be a life-long crutch. Many wealthy people today were born into poverty and despair. The beauty of life is that change is the constant. The matrix was created for us to change. But, like one of my friends and real estate colleauge says: "If it's meant to be, it's up to me!"

The truth is, leaders don't ever stay poor for too long because they are admired, respected and sought out. Leaders in their fields are offered great positions, they are courted professionally and personally by other leaders, they are even enticed into mergers by their competitors! Everyone wants a leader in their court.

2. Are you proud or just loud?

Leaders stand out quietly. They are not boisterous; they are not cocky.

In my 15 years as a nationally-published journalist, I've had the pleasure of interviewing many leaders in their respected fields: Jennifer Lopez (entertainment), Oscar de la Renta (fashion), Dr. William Thatcher (former Surgeon General of the United States), Brian Tracy (best-selling motivational author), just to name a few.

In speaking to countless famous and wealthy people from around the globe, I have discovered that real leaders have a regal aura and low-key confidence. They don't brag about their success, they don't have to because their actions speak louder than their words.

In Los Angeles, we have a lot of phonies, people who "pretend" they are leaders, but really, they aren't. They drive the new fancy imports, but can barely make the payments; they live in McMansions, but they are one mere payment away from foreclosure.

The first wealthiest man I knew on a very personal level, a much admired restaurateur whom I worked for as a waitress in college, drove an older-model car, lived in a modest home and hardly spoke.

3. Do you let others determine your wealth?

Many people don't follow their dreams because they are afraid of what others will think of them.

Some yearn to be actors, but their friends may mock them. So, instead of going to auditions, they end up wasting their life away at the bar with their deadbeat pals -- don't get me wrong, going to a pub can be fun, on occasion. But think about it: If you hang out in a dark place with people who have nothing better to do then down drink after drink and complain about life, then don't expect abundance!

Real leaders follow their heart, follow their passions, follow their God-given calling. Our Creator puts dreams inside each and every one of us, that happens for a reason!

Follow your dreams, don't focus on the money. The money will follow, if you follow your divine calling...

4. Are you fearful? Or do you say: BRING IT ON!

Leaders have certainty. Do they sometimes become afraid? Of course! After all, leaders are only human, but they do not let anxiety control them. They face the fear!

Really, what is fear? What is anxiety? In my spiritual studies, I was taught that fear and anxiety are gifts from God. They are merely flashlights letting us know what we have to work on...

Are you fearful of your finances? You need to focus on how to become more prosperous.

Are you fearful of illness? Then you need to put the cup cake down, get off the couch, turn the TV off and go for a nice power walk.

Are you afraid of being alone? Then why are you walking around with a scary frown on your face? Go out there and SMILE. Don't be such a sourpuss: Let your light shine, don't hide it!

Everyone is fearful at one time or another, it's only natural to be crippled with fear at some point. After all, this world is controlled by the Opponent and his accomplices: chaos, disorder, death.

That's why it's so important to know that the path you walk on is one of divine purpose. It's not an ordinary walkway: It's a path guided by a Higher Power. A path where MIRACLES are the norm and chaos is the exception.

5. Are you complacent and comfortable?

There are no shortcuts, period. If you truly want success (at work, in your relationships, with your finances), you need to actually do the work. It takes effort to be successful. It takes drive, it takes ambition, it takes passion. Again...it takes effort.

Success is not for the lazy, it's not for the weak or for those who are passive.

Without a burning desire, success will elude you. In life, each one of us gets exactly what they seek out... no more, no less. So, if you truly want to be successful, analyze how you spend your time.

Do you come home from work and plop yourself in front of the Idiot Box for the rest of the evening? Do you complain about not being able to climb up the corporate ladder, but then do nothing about it? It is not expensive to go back to school, our local junior college costs $20 per unit.

Leaders constantly strive for more... More Money, More Property, More Love, More Happiness...

Leaders continually push themselves: They start new businesses; they are life-long learners; they are open to new ideas; they research investment opportunities. Leaders are not complacent. Leaders are never comfortable. They thrive on new challenges, they seek new opportunities. Leaders love life and live it to the fullest!

Final Thoughts

I hope that these points will be taken into consideration by all those who aspire to reach uncommon success, extraordinary abundance and extreme levels of joy. We only have ONE CHANCE, ONE LIFE, ONE MISSION. Don't get so caught up with the petty trials of everyday life that you miss out on those precious opportunities for success.

And just as I am writing this, I am reminded that I too must diligently stay on this narrow path towards attaining a leadership role, so that I too can receive the very best that life has to offer.

Although I continually strive for success, never in my wildest dreams did I think I would own income properties out of state. But now that I do, I love being a long-distance landlord. I enjoy traveling all around this beautiful country to check on properties and to find new opportunities. I like to socialize with all the people I have met and stay in regular contact with (my property managers, brokers, etc...). Most of all, I love making money without having to "work" for it (through appreciation, cash flow, depreciation and tax benefits).

There are so many caring and knowledgable people in this business, how can anyone be fearful of being a real estate investor? It's truly the best road to financial prosperity in the whole wide world.

Until next time, may you live a life worth living...

Linda

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I hope that you enjoyed my blog. I have assisted first-time buyers as well as seasoned investors through my network, www.cashflowcows.com. I have also helped numerous real estate brokers, agents, loan officers, financial planners and attorneys in locating investments out of state. Our network is the only one that helps monitor our clients' investments after the sale! Investors, be sure to visit my real estate magazine REALTY411 !

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The advise in this blog is solely based on personal opinion. Always seek the advise of a trusted attorney, broker, financial planner, accountant or other professional before investing in real estate.