Transcript
We all know that real estate is a little tough right now. If you're in a foreclosure situation, I understand how difficult that may be. And that being said, please know that your lender does not want your house. They've got enough of them! They want their money.
Patrick, a client of mine, and his girlfriend found themselves overextended with an adjustable rate mortgage they could no longer afford. He was telling me they were going to move out and let the bank just have it—along with all the money they'd put into it.
As you know, I teach that energy flows where attention goes. Patrick was placing his attention on defeat... He had already told himself there was no other solution than to leave their home and all they had invested. As you think certain things, you feel certain things and you act accordingly. That's what I call your "3 for 3" strategy.
First, he had to shift his attention and his "3 for 3." His attention was completely on his lack of resources. I told Patrick, "There are always plenty of resources. You've just got to get resourceful."
I encouraged him to contact his lender and negotiate what he could pay—even if it was well under what they had agreed to. Patrick was very doubtful this would work, but I finally convinced him he had absolutely nothing to lose and everything to gain. Reluctantly he agreed. He was already shifting to a more resourceful position. Long story short, the next time I saw Patrick, he was so excited that they had struck a deal with the bank and he's still in his home.
One more example, another client I've worked with for years named John left AT&T five years ago and started his new business of buying low cost housing, totally gutting and remodeling them and then selling them at a healthy profit. By his second year, he had a budding business. Then the over-inflated housing market began to take a turn.
Carrying ten bank notes and paying interest-only payments while they sat on the market, Jon's business began to take a turn as well, and things got tight. I encouraged him to practice an exercise I teach in my Success Certain Coaching program called the "Mastermind 20."
For three successive days, you go to a quiet place where you won't be interrupted. Turn off the cell phone and have a pad and pen close at hand. Each day, you must come up with 20 new ways in which you can grow your business, create more income or achieve any intention. In other words, access your creativity and become more resourceful. The rule is that you cannot leave until you have a minimum of twenty ideas. No editing, no analyzing, all ideas are good ideas... Just get them down.
After the third day, you'll have a list of no less than 60 creative ideas. Now you must go through your list and pick the 3 most leveraged ideas defined by:
- Potential return on investment (Time, Energy and Money)
- Speed of potential return
- Ease of implementation
By the third day of the exercise, John had numerous new ways to market and get referrals, as well as a new business idea that he immediately implemented.
Today John's brand-new remodeling business is bringing him more business than he can handle. Instead of buying and refurbishing properties, he has aligned with insurance companies and property owners to market his highly desired remodeling skills without having to get loans and carry mortgages. There are always plenty of resources. He just had to get resourceful.
The great learning is that he most probably would have never brought his new business to life if it weren't for the challenges he faced in his old business model. If his homes hadn't sat on the market for so long, he most likely would be still doing the same old thing with lower margins.
So here's the question: What have you been doing? Better question: What are you going to do moving forward? It's not the president. It's not the government or the economy... It's you.
Use the Mastermind 20 exercise and apply it to your situation. Get resourceful, shift your "3 for 3" strategy, and you'll be amazed at how quickly you being to attract and create a new life. You'll be glad you did!
To your continued wealth and happiness,
James Arthur Ray
President/CEO
James Ray International
© 2010 by James Arthur Ray
