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Mastering the Mindset for Property Investment Success · The Property Unleashed Podcast

• 0:00
  Speaker 1: Why some people fail to achieve their property investing goals.
• 0:03
  Speaker 1: Hello, my name is Mark Fitzgerald.
• 0:16
  Speaker 1: It's great to have you joining me here today.
• 0:18
  Speaker 1: Why do some people fail in achieving their goals that they're setting themselves when they're trying to build their property businesses?
• 0:26
  Speaker 1: I see this all of the time and there are a couple of fundamental things that a lot of people get a little bit mixed up when starting to go out there and build a property business and then they start looking for the next shiny penny, the next interesting asset-based project that they can dive into, and that's not the best way of doing things.
• 0:48
  Speaker 1: If you do set yourself out a goal of building a property business to potentially replace your income, to get you out of that day job and things, or to build a legacy piece, a retirement piece, for you in the future and maybe be able to hand down to generations, then you need to make sure that you're focusing first and foremost on one thing, and that is your mindset.
• 1:09
  Speaker 1: You've got to focus on your own mindset first.
• 1:13
  Speaker 1: A lot of people think I'll tell you what I'll do.
• 1:14
  Speaker 1: I'll get out there, I'll start building a property business, I'll start taking the actions and then, by doing that, my mindset will follow.
• 1:22
  Speaker 1: It'll be a byproduct of the actions that I'm taking.
• 1:25
  Speaker 1: That is a recipe for disaster.
• 1:27
  Speaker 1: If you do set out and you do that sort of thing and you operate in that manner, you probably will fail, and that is because you will become demoralized at some point.
• 1:39
  Speaker 1: You will have struggles, you will hit brick walls OK, certain things will happen.
• 1:44
  Speaker 1: All of the time.
• 1:45
  Speaker 1: It's a rollercoaster journey.
• 1:47
  Speaker 1: Anything that you want to achieve in life that is worth doing is a rollercoaster journey.
• 1:52
  Speaker 1: It's not just trajectory going straight up.
• 1:54
  Speaker 1: You'll have heard me say this all of the time, but you've got to make sure that you get your mindset in the game first, so that you're ready for this.
• 2:00
  Speaker 1: You're ready for the challenges.
• 2:03
  Speaker 1: Most of us and I have been like this myself as well are comfortable, whether or not we enjoy what we're doing.
• 2:11
  Speaker 1: We are comfortable.
• 2:13
  Speaker 1: So we may have a job that pays us a wage.
• 2:16
  Speaker 1: That means that we're scrimping by each and every month, but, believe it or not, you're comfortable.
• 2:21
  Speaker 1: You're comfortable having that wage coming in.
• 2:24
  Speaker 1: Trust me, when you build your own business and you get out there whether it's property or whatever you're building and then you pay yourself from that business, there is still pressures there.
• 2:34
  Speaker 1: A lot of people say it's all right for you, mark, there's always pressure.
• 2:38
  Speaker 1: There's more pressure on me now than when I had my corporate jobs and I was managing massive, massive teams on a production line, because at least then I had the furl safe that even if we didn't hit the targets, I was still getting my month on month wage.
• 2:52
  Speaker 1: Now we pushed to try and hit those targets and things.
• 2:55
  Speaker 1: Of course we do and do the best job we can possible.
• 2:57
  Speaker 1: But I was comfortable in my own business.
• 3:00
  Speaker 1: Ok, if we don't make money, I cannot pay myself.
• 3:04
  Speaker 1: There is no fallback onto paying myself and things.
• 3:07
  Speaker 1: Now, obviously you can build up financial security and that's what you want to be doing.
• 3:11
  Speaker 1: But in the very beginning and this is what I'm talking about in the very beginning, it can be very, very difficult.
• 3:16
  Speaker 1: So you have to have a strong mindset.
• 3:19
  Speaker 1: You have to know your vision.
• 3:21
  Speaker 1: I say this a lot to everybody as well.
• 3:22
  Speaker 1: What is it that you want to achieve?
• 3:24
  Speaker 1: Where do you see yourself?
• 3:26
  Speaker 1: And actually take a bit of time to close your eyes, sit down and envision your future.
• 3:33
  Speaker 1: How do you want it to look?
• 3:34
  Speaker 1: What do you want to feel?
• 3:35
  Speaker 1: How do you want your day-to-day to be as well, because if you do not get that in check, then as soon as somebody says no to you, it's not going to work or you have a bad experience, you will quit.
• 3:47
  Speaker 1: You will say it's not for me it can't be done, it's only for the selective few that get out there.
• 3:53
  Speaker 1: No, it's not the selective few that get out there have worked on this at the very beginning.
• 3:58
  Speaker 1: It's something I work on with my clients.
• 4:01
  Speaker 1: Okay, the first thing if you ever come and do any of our trainings is the first thing we will work on is your mindset.
• 4:07
  Speaker 1: Let's get your mindset into gear, into place, because then your behaviors and your actions will be in line with your vision and your mindset.
• 4:18
  Speaker 1: And then things that happen, obstacles that get in the way, rejections won't matter so much.
• 4:24
  Speaker 1: Ok, so if you're out there now and you're chatting to people who are relatively new to getting into property and things and maybe you are yourself as well and they're saying market's saturated, it's all doom and gloom, they're doing this, they're changing that.
• 4:39
  Speaker 1: Their mindset's not right, they haven't set their mindset.
• 4:41
  Speaker 1: Now, we don't want to be totally delusional.
• 4:43
  Speaker 1: You have to look at the market and things Now.
• 4:45
  Speaker 1: We don't want to be totally delusional.
• 4:45
  Speaker 1: You have to look at the market and things.
• 4:47
  Speaker 1: Now.
• 4:47
  Speaker 1: If what they're saying actually has some legs on it and actually makes a lot of sense, then we need to be property professionals in our area, of course.
• 4:54
  Speaker 1: But there's a lot of people that will just say doom and gloom.
• 4:56
  Speaker 1: Why?
• 4:57
  Speaker 1: Because they haven't got their mindset straight.
• 4:58
  Speaker 1: They don't know what it is they want to achieve and they don't know how they're going to achieve it.
• 5:02
  Speaker 1: Because motivation will only get you so far.
• 5:06
  Speaker 1: When was the last time you wanted to get fit?
• 5:08
  Speaker 1: You wanted to go on a new diet.
• 5:09
  Speaker 1: Yeah, you wanted to get into shape.
• 5:11
  Speaker 1: The motivation's there for a good few weeks, maybe even the first month.
• 5:14
  Speaker 1: You'll cut out all the rubbish food You'll cut out maybe drinking, you'll start exercising and things.
• 5:20
  Speaker 1: And for the first couple of weeks it feels easy because you've got motivation, you've got drive, okay, and you think to yourself this will never end.
• 5:28
  Speaker 1: But as soon as you get into the third or fourth week, it starts to become hard.
• 5:32
  Speaker 1: You start to miss the pizza, you know, the fish and chips, the desserts and things like that, the training.
• 5:38
  Speaker 1: You're starting to ache.
• 5:40
  Speaker 1: Maybe you're getting over your aching, but you're finding excuses not to go to the gym so much and things, and all of a sudden it pitter patters and you've got all of this momentum spinning really, really fast in the beginning and then all of a sudden it goes flat and potentially stops.
• 5:53
  Speaker 1: And, as they say with a lot of people who jump on these sorts of diets, are they actually end up heavier than when they started, because it has a reverse effect on them.
• 6:02
  Speaker 1: Why?
• 6:02
  Speaker 1: Because their mindset's not straight.
• 6:04
  Speaker 1: They haven't got a vision about what it is that they want to achieve and they haven't also worked out that this is going to be ongoing.
• 6:10
  Speaker 1: When somebody says no to you now doing a property deal and you think to yourself, oh, I'm never going to get a deal, it's never going to happen, you're telling yourself negativity.
• 6:19
  Speaker 1: But also, this is a process.
• 6:21
  Speaker 1: Do you think when I go out now or any other successful property investors go out there now, they get every deal, they make everything happen.
• 6:28
  Speaker 1: That's just the Instagram lifestyle that people like to say out there.
• 6:31
  Speaker 1: You know, I bought a house for 50 grand, I spent a fiver on it and now it's worth 150,000 pounds and I can show you or tell you how to do the same.
• 6:39
  Speaker 1: That is an absolute pipe dream, and if people are spitting that out and selling that to you, then it's an illusion.
• 6:45
  Speaker 1: Ok, that's not what you want to be building your mindset on.
• 6:48
  Speaker 1: What you want to actually be building your mindset on is you.
• 6:52
  Speaker 1: You want to be working on yourself.
• 6:54
  Speaker 1: You want to be able to get out there, see what it is that you want to achieve, but also know the stepping stones that you need to take to achieve those, and understand that, as I said before, there will be setbacks, it will be hard, but you can do this.
• 7:09
  Speaker 1: Okay, you can do this.
• 7:10
  Speaker 1: You just need the right mindset, the knowledge and you need to do the work.
• 7:14
  Speaker 1: And if you do those three things in that order, you will set yourself up probably about 95% better than anybody else that's just going out there thinking that I'm gonna get started in this because it seems so.
• 7:28
  Speaker 1: Work on yourself, make sure that you are improving yourself.
• 7:32
  Speaker 1: Read the books, listen to the podcast, watch the videos and things.
• 7:35
  Speaker 1: Don't be afraid of investing.
• 7:37
  Speaker 1: See who you think will really, really help you, who will have, so to speak, the testimonials, the reviews, and get yourself out there and don't look at it as an expense.
• 8:01
  Speaker 1: Look at it as an investment in yourself.
• 8:03
  Speaker 1: Surround yourself with like-minded people is another thing that I like to do.
• 8:08
  Speaker 1: If you go to your local pin meetings or any other property meetings and things, what you will find is there's a lot of people there who are trying to build their own property businesses.
• 8:18
  Speaker 1: Now, we're all in the same industry, but we're not all trying to achieve the same things.
• 8:22
  Speaker 1: Everybody has their own different vision, so don't get suckered into thinking that I can just start taking the actions and then the mindset and the motivation will last forever and things.
• 8:30
  Speaker 1: A lot of people said to me when I started out in property Mark, you're going to burn yourself out if you keep doing this.
• 8:36
  Speaker 1: You need to make sure that you rest, you need to make sure that you take time off, and I was like no, I'll never burn out.
• 8:41
  Speaker 1: I love what I'm doing, it's absolutely great.
• 8:43
  Speaker 1: Now, while I do love what I'm doing, I did burn myself out.
• 8:46
  Speaker 1: It hits you, it smacks you in the face when you least expect it, and then you hate property, you hate the business that you're building, you hate life in itself because you've burnt yourself out and I don't want you to do that Now.
• 8:58
  Speaker 1: I know that I need to take breaks.
• 9:00
  Speaker 1: I need to have time off.
• 9:01
  Speaker 1: I need to go for walks on a daily basis, if I can, to keep my mind clear, to keep my mindset strong, and you need to start building in what works for you as well, because motivation will only get you so far, but it'll probably get you demoralized, it'll probably actually make you quit in the end, or it'll burn you out.
• 9:17
  Speaker 1: And once it burns you out, that is a very, very difficult place to get back, because your mindset then is all of a sudden negative on everything.
• 9:24
  Speaker 1: You hate everything.
• 9:25
  Speaker 1: You don't know why you're doing anything, and of course, that can then leak out to your personal life and it can spiral out of control and we can get people into a lot of situations where they go into very, very dark places.
• 9:37
  Speaker 1: And that's not what it's all about.
• 9:38
  Speaker 1: If you get this right and you know how to make yourself feel good, you know when you are starting to talk negatively about yourself.
• 9:47
  Speaker 1: What do I mean by that?
• 9:48
  Speaker 1: The voice in your head that is always talking to you, that never shuts up.
• 9:52
  Speaker 1: Who are you to do this, mark?
• 9:53
  Speaker 1: Who do you think you are to tell people how they can do this?
• 9:56
  Speaker 1: Who are you to do these deals?
• 9:57
  Speaker 1: Why do you think you're so special and you can do this and do all of that?
• 10:01
  Speaker 1: I don't think I'm special.
• 10:02
  Speaker 1: I don't think that I'm the only person that can do these deals, but I know I can help people and that's one of the major things there.
• 10:09
  Speaker 1: So I can tell that there's a voice in my head that never shuts up that potentially, if they were an external friend, you'd have been them by now.
• 10:16
  Speaker 1: Tell them to just be quiet.
• 10:18
  Speaker 1: Let me get on with what I'm doing and let me focus on building my property business.
• 10:22
  Speaker 1: So if you need any help with that, go to thepropertyunleasedcom and we have some tools and resources there to be able to help you with your mindset.
• 10:29
  Speaker 1: But start just journaling daily.
• 10:30
  Speaker 1: Start just writing things down.
• 10:32
  Speaker 1: Have a pad and pen.
• 10:33
  Speaker 1: Have a journal.
• 10:34
  Speaker 1: Even better, have a journal.
• 10:35
  Speaker 1: Invest in a nice journal.
• 10:36
  Speaker 1: Invest in a nice journal.
• 10:38
  Speaker 1: I was going to grab mine then.
• 10:39
  Speaker 1: Invest in a nice journal that actually makes you want to write in it.
• 10:42
  Speaker 1: Don't be afraid to start writing in it as well if you've spent a little bit of money on it.
• 10:46
  Speaker 1: I like to invest in a good journal because then I want to fill it with all my ideas so I can brain dump all my worries, all my fears.
• 10:52
  Speaker 1: I can also brain dump all my ideas and things.
• 10:55
  Speaker 1: I've spoken about this before as well.
• 10:56
  Speaker 1: But get it out of your head, have a look at it and if you have got a major problem or a fear or worry, draw that line down the middle of the page.
• 11:05
  Speaker 1: Again, I've spoken about this a million times before.
• 11:07
  Speaker 1: Draw that line down the middle of the page, put the problem on the left-hand side this is the problem that I'm currently having and then write out on the right-hand side at least three answers to that.
• 11:17
  Speaker 1: And it could be why do I feel like I'm not worthy of building a property business?
• 11:23
  Speaker 1: Well, one of those answers to that is maybe you haven't got knowledge, you haven't got the confidence in what you're doing.
• 11:28
  Speaker 1: So you could solve that by finding out more, learning more about it.
• 11:32
  Speaker 1: Okay, you could also, on that sense, say to yourself right, I'm going to invest in something, I'm going to get myself out there, I'm going to invest in some training and some coaching and some mentoring to help myself there.
• 11:43
  Speaker 1: And the other thing is, maybe it's just your own self-doubt.
• 11:46
  Speaker 1: Look at it externally and say to yourself what have I achieved in my life.
• 11:50
  Speaker 1: Okay, maybe you've gone from working on the shop floor all the way up to your charge hand senior management.
• 11:57
  Speaker 1: You've helped people, you've helped charities, you've helped people.
• 12:01
  Speaker 1: You've helped just friends or family, overcoming problems.
• 12:04
  Speaker 1: Those are all wins and successes that we don't always take into account, so those are sort of things that you can just do.
• 12:10
  Speaker 1: So what is the problem?
• 12:12
  Speaker 1: Three answers to that problem, and I bet you any money by the end of it.
• 12:15
  Speaker 1: You're looking at it thinking what am I worried about?
• 12:18
  Speaker 1: I've got this covered.
• 12:19
  Speaker 1: You've got the answers in your head already.
• 12:21
  Speaker 1: Just make sure that you are using the power of your own mindset to power your motivation, to power your actions, to power your beliefs, and that will make you rock solid when you're getting out there and building your property business.
• 12:35
  Speaker 1: I hope this episode has helped you, and why not come and join me in the next episode now?
• 12:39
  Speaker 1: I'll see you there.