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Are You A `Lucky One`?

JoeRagona

JoeRagona

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Do you know what most people do when they are confused? NOTHING; and do you know what happens to their wealth? Exactly`nothing.

Wealth comes to you when you accept risk ` I`m not going to sugar coat it. If you think you can become wealthy without some sort of risk, you are sadly mistaken and you will probably keep doing nothing.


However if you understand `risk` has degrees and levels of sophistication, it becomes part of your success. It`s because you will begin using your money as a tool to bring you more money.


Do you want to continue working for your money? Every
day, year after year in a job or business just to make enough money?
Would rather not want to be one of the `lucky ones` who can do what they
please and love?

THE LUCKY ONES

My friends, of the many successful people you know, do you consider them `lucky` or `smarter` than you?


Well they aren`t, they are ACTION TAKERS ` and I`ll bet many of them were UNLUCKY in life way more that YOU think you are today. But if all you see is `luck`, then you are not an action taker no matter what you say.

BUT I AM ` IT JUST DOESN`T WORK FOR ME

Yea, I`ve been there ` taking a step to do something and then BLAM I smash head on into a wall. Why am I not lucky like these other guys??? Why me???


I`ll tell you why ` its life filtering out the speculators and the people who want something for nothing. ACTION TAKERS (or the `lucky ones`) look at the wall and figure a way around, over or through it.


Everyone else turns back and finds every excuse why it didn`t work out for them, reasons why they are not `lucky`.


Sorry, but that`s BS. The biggest successes are people who faced
risk ` personally, financially & socially - they conquered their
walls. Are YOU prepared to face risk? Are you willing to negotiate
your wall?


I know many people who will just turn around when that wall comes up yet they tell me `I wish``


I tell them `stop wishing and start doing`.


If they did, they would no longer be a victim ` they will have control and choice ` and that`s what I`m trying to stir up in your mindset. But the truth is, money controls these people ( bills, food and shelter to pay for) and they can`t see past that wall to what exists on the other side - they wait...for luck.

So am I one of the lucky ones?
Is my friend Ian Szabohttp://http://www.facebook.com/home.php#!/pages/From-Renos-to-Riches/105357546206220 (who inspired this post) spending his life `catching up` while the `short school bus` now all of a sudden `lucky`? Is he just someone our maker shines down to giving an award for excellence and morality because he had a `tough life`?

I don`t think so; we, among a lot of other people are ACTION TAKERS. We are smart, yes Ian`smart action takers! We are taking educated risk and to some,we get luckier every day that passes by.


The reason I write this today is because once again I was part of a room full of ACTION last night at REIN.


The support, energy and enthusiasm were so thick you could have cut
it with a knife. Isn`t that way more amazing then cutting `tension`
with a knife?


If I had the choice of what to `cut with a knife`, it wouldn`t be `tension` as I wouldn`t be in that room in the first place.


Go out, and make yourself one of the `lucky ones`.
 
I concur 100%. Each and everyone of us has a story, some a little more fairytale like then others. For instance, I am have not seen my parents since the age of 6, and that growing through the social system had its challenges...all that does is tell you that furnace was a little warm at the outset, better for refining one could say :-)...fairytale like for sure.

Regardless of the events, what I have learned is that there are always 2 choice forces at work: life imposing its way on us and we re-ACT, or we impose our living being on what is, that is to ACT.



Kudos Joe for speaking a much needed truth. Hopefully it will be heard above the din of everyday life.



I look forward to having my wife and I meet you one day.



Regards,
 
[quote user=dcaz4moores]what I have learned is that there are always 2 choice forces at work: life imposing its way on us and we re-ACT, or we impose our living being on what is, that is to ACT.


This is an important understanding to grasp and I commend you for this. You are right in saying we all have our stories and what that does is makes us re-ACT or ACT like you say.



I am truly passionate about helping someone over the bridge from re-ACT to ACT and why I put these thoughts out there.



Thank you for your kind response! I will meet you - it's in the cards!



Sincerely
 
JDR!



I was with my mastermind group this weekend and we had a guest speaker in. He talked about the fact he has won 3 cars over the years and each time he absolutely without doubt knew he was going to win. Have you ever had that happen to you? I know I have. Maybe it was luck but I think that there is much more to it than that. It has more to do with intuition and belief. Sounds hoaky but I think that you and many others who are "lucky" will concur with me. You just know. You trust your gut and you are committed to the core!



A thought that came to me this weekend "When it looks or seems effortless it undoubtably took a lot of effort!"



To your luck!
 
I see where you are going with this Wade, it's really the choice of words we are using and most people just 'wish for luck' where as people like us know and believe in our soul of what we want - the 'luck' is from the action we take to get it.



I love the quote!!! Those who are successful and lucky in others eyes just make it look easy!



Great Speed Forward my friend!!!
 
The mastermind speaker sounds like he's watched too much Oprah. Winning a car is lucky. My friend's wife just won 3.6 million in 649 last week. That was also luck. The probablility of either win verges on random chance. Him knowing that he was going to win was purely a hopeful emotion and since he did win, he feels he can validiate it as more than that.



Success comes through hard work and good decision making. Is there luck involved? Sure, I guess you could call knowing the right people or timing the market as luck, but those can also be calculated to a degree. Winning a raffle or a lottery doesn't even belong in this discussion. Warren Buffett would tear you mastermind speaker to pieces. He doesn't buy companies on intuition or gut. It's numbers and the product being produced. Sounds like a late night tv infomercial to me.



Nik
 
Hi Nik,



this might be easier to explain from a sporting point of view as that is where the phenomenon happens most often in my life. Have you ever without hesitation just known that you are going to make a shot? Ever been so in the zone that your brain isn't engaged and you just "do it".



I can tell you that there are many times in my life that I have had this sensation. I have won things. I have made impossible shots. I have climbed impossible lines simply because I had this "feeling".



I have transferred this intuition into my investing from time to time. Sometimes the numbers work but you walk from the deal because you gut says to! I think this is an important instinct. Call it hoaky or heck even call it stupid but I will continue to employ it as a critical part of my life and investment strategy.



Keep calculating :)
 
Wow, great insights guys, I would have never thought this post would have gone this route! :D
 
I second this post

[quote user=2ndstory]The mastermind speaker sounds like he's watched too much Oprah. Winning a car is lucky. My friend's wife just won 3.6 million in 649 last week. That was also luck. The probablility of either win verges on random chance. Him knowing that he was going to win was purely a hopeful emotion and since he did win, he feels he can validiate it as more than that.



Success comes through hard work and good decision making. Is there luck involved? Sure, I guess you could call knowing the right people or timing the market as luck, but those can also be calculated to a degree. Winning a raffle or a lottery doesn't even belong in this discussion. Warren Buffett would tear you mastermind speaker to pieces. He doesn't buy companies on intuition or gut. It's numbers and the product being produced. Sounds like a late night tv infomercial to me.



Nik
 
Even Don Campbell talks a lot about investing verses speculating. His ACRE system has very little to do with gut feelings or hunches. It's all about research and analysis. Once you do all the math and answer all the questions, you make a decision based on those facts. The hunch, or whatever you want to call it, may come into play at the very end when you are making the final decision, but never are you to rely on a hunch or gut feeling. I would be careful about letting people know that is part of your decision making process with investments, especially if you are try to attract OPM / JV, and people are trusting you because they are relying on your experience and knowledge in the area.



Thank you, I will keep calculating; keep rolling the dice if you like. :)
 
When it comes to JVs, you are right - they need to fully trust you - I don't recall suggesting you tell them you do things on 'gut' feeling. The original post was based on sophisticated investors like us whom work damn hard at getting our systems in place, pounding the pavement and then reaping rewards later on only to have someone call us lucky.



There is not such thing. We stuck to the fundamentals ... nowhere did I suggest to roll the dice.
 
No Joe. I'm not referring to your initial post. I am responding to Wade's. Sorry, I should have quoted him. Read his post again, and then my response. It will make more sense

Nik
 
Luck should have nothing to do with successful investing and is certainly not a accepted formula with this group.

So why is it that so many investors place so much importance on research in purchasing a property and then rely on a roll of the dice when selecting tenants.

They do not believe in luck and then rely entirely on luck once they have completed there purchase. This has always confused me.



I can not count the number of times I have heard landlords/investors say "I did not do a credit check or thorough background search" they simply had a gut feeling that the applicant was a good choice. They turn over the keys to there investment based entirely on the honesty of a total stranger.
 
Ah, ok Nik...I was confused as to how you would have perceived my post to talk about rolling the dice.



As for Wade, from what I see in that is he knows when to walk from a deal no matter what because of the second level of intuition he trusts. I don't really think he 'promotes' this to JVs (correct me if I'm wrong Wade) because I certainly wouldn't and it is what I believe you were touching on Nik.



I too trust a lot of my instinct and if a deal works all around but I still have an unsettling feeling about it, I would walk also. Because in my mind, if I would not put my own money into a deal, neither should I put OPM.



That's a given, but it's something I don't really tell my JV. I'll just say I didn't like the deal, and I didn't feel it would return what you were looking for. They are happier I say "no" more than "I'll take anything ya got!!"



:)
 
This is true Greg and I'm totally guilty of that on MY first property which cost me dearly. It kicked my A** and I know better now. I think it goes without saying how important this is but it's not really what the topic was originally intended to touch on.



All in all, your comment is well received!
 
Guys, in no way shape or form am I even suggesting "just go with your gut"! Run the numbers every single time and if they don't make sense run from the deal. But I can guarantee you that Don, Warren Buffet and myself trust our guts even if the deal makes sense from a numbers perspective! If Warren Buffet doesn't "Like, Trust and Respect" you he doesn't do the deal. This has absolutely nothing to do with the numbers but everything to do with his gut.



And like it or not potential JV partners are doing this analysis on YOU! If you come to them with the greatest deal in the world but it smells a little funny to them for what ever reason....no deal.



So your gut comes into play whether you like it or not! Please run the numbers on every deal but listen to that Spidey sense too!
 
[quote user=wgraham]



And like it or not potential JV partners are doing this analysis on YOU! If you come to them with the greatest deal in the world but it smells a little funny to them for what ever reason....no deal.



So your gut comes into play whether you like it or not! Please run the numbers on every deal but listen to that Spidey sense too!


Wade, I could not agree more. Especially when it comes to JV partners. I have proven this over the past year even more so with all the people coming to the table after my three years building my portfolio. It's a combination of trust for me and my credibility on what I say I have done.



I ALWAYS use my spidey sense. It's how I have always dealt in business -
 
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