It can be easy for a lot of people to develop a fear around money and investing when they don’t know much about it. Why is it so important to overcome this fear of money? Why is getting into real estate investing a lot easier than people think? What is a “financial freedom number”, and how is it the crux of success? On this episode, Clayton Morris shares his unique journey to becoming an investor, along with the practices and mindsets that made success inevitable.
Most people just want to blindly get into real estate, and they don’t have any focus on what their numbers are.
- Buy where there’s American based jobs, where the infrastructure is not going to China, and where there’s hospital systems and distribution centers.
- Borrowing from your IRA is a great strategy. You’re paying yourself back as the bank, and you can put more money back into it than the federal government allows.
- A lot of warehouses and commercial buildings are being turned into distribution centers. More people are investing in residential spaces in those areas.
- You either have money, a deal or access to people.
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At the start of the show, Clayton shared how he got started in investment properties, and how he overcame not feeling worthy of money. Next, we talked about the best criteria for buying investment properties and the power of having a financial freedom number. We also talked about the importance of aligning all your financial processes with your wealth building in mind.
We also discussed:
- How to find off-market deals
- Turnkey investments
- The shift towards a market of warehouses and distribution centers
There’s so much money out there, but people are limited by their thoughts around money. The truth is, there are so many different tools in the tool chest and you even have access to them as a beginner in the industry. If you have a really good deal, it would be crazy for you not to find someone to finance it. The key thing is having a big why because that will determine your actions. Remember, you have to feel worthy of wealth and that will make it manifest. Figure out your compass first and then take action on it.
Clayton is a real estate investor, and founder of Morris Invest. He’s helped hundreds of people buy their first rental property and we've renovated thousands of homes and filled them with happy tenants. Go to morrisinvest.com for more info or listen to the podcast https://morrisinvest.com/podcast/.