“Launch To Your Best Life” Expert Shares on Mindset and Multiple Streams of Income
Guest Speaker: Robert Allen
Robert Allen has spent his entire life helping people earn more and live better. He is the author of 11 books, including the #1 bestsellers Nothing Down, “Multiple Streams of Income: How to Generate a Lifetime of Unlimited Wealth!,” “The Four Maps of Happy Successful People” and “Creating Wealth and The Challenge.” Combined his books have spent over 80 weeks on the New York Times Bestseller list, and his seminars and trainings have reached well over a million students.
He has proudly taught over a million entrepreneurs the mindset tools to earn more, work better and be happier. Current courses he teaches via his School of Successful People are The 4 Maps of Happy Successful People, Best Life Launch and Real Estate Launch.
What you’ll learn in this episode:
- Bob graduated from BYU with a Master’s in Business Administration. He mentions two books that changes his life: the legendary “Think and Grow Rich” and William Nickerson’s “How I Turned a Thousand Dollars into a Million Dollars in Real Estate in My Spare Time.”
- He couldn’t find a job out of school, so he went right into real estate investing. Her found a mentor named Paul Jukes, who agreed to help Bob if he helped him out with some projects. He bought his first property with Paul’s advice and 30-40 after that. Then he wrote his book “Nothing Down: A Proven Program That Shows You How to Buy Real Estate with Little or No Money Down.”
- Bob says people are skeptical when it comes to making money or why guys like him teach it. He does it because he loves to teach, write books and communicate with the world.
- He did a challenge with his publisher, Simon & Schuster. He claimed they could send him to any city with only a $100 dollar bill – and in 72 hours, he could buy an excellent piece of real estate using none of his own money. The publisher ran the advertising for this challenge but the LA Times didn’t accept the ad because they didn’t think it was possible. The LA Times challenged him to go to San Francisco with a reporter who would watch him for three days. He bought seven properties in 57 hours and gave the reporter $20 back in change. After that, such challenges became part of Bob’s brand.
- Bob then did the challenge with the unemployment line. He would select someone who was broke, out of work and discouraged. In two days time, he would each that person the secret of wealth. The idea was that he could get them back on their feet with $5000 cash in the bank. He did it in St. Louis. He selected some people from the unemployment line and taught them his system. 90 days later, they made $5000 cash from nothing – with no credit or job. He’s been doing those challenges ever since.
- Buying property successfully is based on an eternal principle. Real Estate is Liquid. Because it’s liquid, anywhere in the world, it means some people become highly motivated. The principle is: Only one percent of the sellers out there are highly motivated. In a hot market, that percentage is really slim. 99 percent don’t want to sell below market. But that one percent is praying you’ll show up. You should only buy from highly motivated sellers who are flexible because of their circumstances.
- Bob is often asked what is the “secret sauce” between those who really want it and those who never get it. The latter are those whose fear stops them. He often uses this quote: “You must make your dreams more real than your fears.” If you put your dreams front and center, your fear fades into the background. Fears can drive you to the sidelines.
- He believes in turn that “Whatever you fear, you get,” whether it’s poverty, rejection or anything else. So don’t think fear. Think of what you want, your dreams. Put that first in your life.
- Bob recounts a parable about “the blue vase” from a book by Richard B. Kind called “The Go Getter.” It’s about a Vietnam vet who takes the challenge of getting a blue vase in a window in a store in San Francisco. Then the owner of the store moves the vase and made it difficult to find. The hero goes through 20 different challenges. It’s a story about the importance of persistence.
- Bob says, “You can’t push people to get to their dreams. You can’t drag them up the mountain. If they don’t want it badly, then you teach them the best you can.
- There are three skills he believes you need to be really successful: system skills, people skills and mindset skills. System skills address questions like, How do you find the real estate? How do you rent it out to a tenant? How do you do the financing? People skills are, How do you create trust when you’re negotiating with somebody? How do you get a banker and your partners to trust you? Mindset skills are, How do you sell yourself to go do what seems impossible to do? Mindset by far is the most important. When Bob does his trainings, he covers all three.
- Bob talks about the foolishness of engaging skeptics. He says he only talks to “smiley faces” now.
- You need multiple streams of income. Every millionaire and billionaire has multiple streams of income, which is what you need to be a serial entrepreneur. This can be a real estate portfolio (income from different properties), a portfolio of stocks and investments, or businesses you own.
- You have to be careful what kind of businesses you buy because they require your time. If it’s the kind of business you have to be in all the time, that’s the wrong kind to have.
- Bob says that even though what he and Lance offer won’t engender repeat customers for the most part, they do it because it’s their song, it’s what they do, and they love it.
- Last year, Bob earned the coveted Diamond Medallion Award from Delta because he traveled 175,000 miles last year and a million and a half miles in his lifetime on that airline. Last year, he went to China eight times, Japan four times, Singapore three times and Canada three times. He works as an instructor and consultant in these places. He also markets information products. One of his flagship programs is The Wealth Legends.
- You can learn more about Bob Allen at www.RobertAllen.com.
Resources:
Grab a FREE Copy of Lance’s Best Selling Book, How to Make Big Money in Small Apartments here.
Get Access to Lance’s Best-selling Small Apartment Wholesaling Course here.