32 minutes · 2019
This episode is all about the fear factor. I don’t know about many of you, but many of you may remember the show that Joe Rogan originally hosted called Fear Factor. The show where you’ve got to overcome your obstacles and overcome your fears. Jumping out of plane, crawling to snakes, eating some petrified penis. Joe Rogan hosted it back in the day. You’ve got to do all these things to overcome your three fears. It was always something disgusting or some physical obstacle and then something else. It was of my favorite shows to watch when it first came out. Then it got weirder. I’ve had some conversations with people who are experiencing their own Fear Factor episode. They are mind-effing themselves. The thing I want to discuss is when you feel yourself getting overwhelmed because I think we all do this at some point. We all get overwhelmed, whether we’re working on paperwork or the tax season or the holidays or getting a deal closed. It’s very easy to feel overwhelmed and have the fear factors start to kick in.
The best thing you can do instead of sitting there and letting fear paralyze yourself is to do a couple things. I wanted to go through those things with you. The first thing is fear. Fear stands for: False Evidence Appearing Real. What does that mean by false evidence? We think we have this evidence. Basically, what it means is we automatically go to the worst possible situation. What’s the worst thing that can happen? That’s what starts to paralyze us. My buddy, Gregory says, “What if not the worst thing would happen, but the best possible thing would happen? I know this sounds easier said than done, but let’s face some realities. Some realities that came to me early on is especially in the note business, is there are a lot of moving parts when you’re going from something that you’re not used to. Whether you’re a yoga instructor or a counselor or working on IT or working on a radio control tower or whatever. We all come from different facets of life.
Note investing is not something that’s taught in school. The real estate class I took was so generic. It was one of the easiest summer classes I could have taken. What I’m trying to get at is we all go through learning curves when we come over the note space. If you’ve never been a real estate investor, there’s a lot of learning curves and things like that. It doesn’t mean you should be fearful. What I mean by fearful is when I started hearing people like, “I don’t know what to say, “That’s fine. Relax. Let’s talk about something. Let’s talk about what are you so fearful of? I’m fearful of making a fool of myself. What happens if you do? I’m going to lose that lead.” Probably not. You have to realize, and I realized this a long time ago, we all have to start somewhere. Even the asset managers, even the Jaime Dimons who runs JPMorgan Chase. Even Warren Buffett, they had to start somewhere first. At one point, they were the new guy on the block. They were the first-person delivering drinks. They were the intern at some point. They all started at the beginning, brand new somewhere. Even the asset managers of the hedge funds, they started a new zone or even the servicing guys, even the traders selling assets, sending stuff out, all the asset managers had to start new somewhere. Give yourself a big breath.
Take a big breath to remove stress and realize that they had to put their pants on one leg at a time. They put their underwear on before the
Genre: KNOWLEDGE LINK