In the latest episode of the Raising Private Money podcast, renowned private money authority Jay Conner sits down with Eric Vogel, a high school teacher turned real estate investor, who shares his incredible journey to financial independence and freedom. This episode is an eye-opener for anyone looking to achieve their own FIRE (Financial Independence, Retire Early) through real estate.
The Journey Begins: From High School to High Profits
Eric Vogel and his wife were high school teachers who decided to pivot their careers toward real estate investment. Within just four years, they grew their business to seven figures—a testament to their dedication, strategic planning, and unwavering intention. Their story is a powerful example of how setting actionable goals and focusing on intention can accelerate your path to financial success.
The Accidental Landlords: Discovering the BRRRR Strategy
What started as an accidental rental property quickly evolved into a sophisticated real estate investment strategy. Eric and his wife capitalized on the BRRRR method—Buy, Rent, Rehab, Refinance, Repeat—to rapidly grow their portfolio and achieve financial freedom. This strategy not only helped them accumulate multiple properties but also offered them a steady cash flow, contributing to their financial independence.
Defining Your Financial Goals: From LeanFIRE to FatFIRE
One of the key takeaways from Eric’s journey is the importance of setting specific financial goals. Eric and his wife determined their “LeanFIRE” number, which is the minimal amount needed to retire. They then set progressive goals to achieve “Midsize FIRE” and eventually “FatFIRE,” which would allow them an even more comfortable and abundant retirement. This goal-setting framework serves as a roadmap for anyone looking to attain financial independence through real estate.
Pillars of Financial Independence: Eric’s Blueprint
Eric shares his five crucial pillars for achieving financial independence:
- Understanding Your Why:
Knowing why you want to achieve financial independence gives you a strong foundation and keeps you motivated.
- Dreaming Big:
Think beyond what you believe is possible. Big dreams fuel big actions.
- Setting Actionable Goals:
Break down your large goals into smaller, manageable tasks that keep you on track.
- Taking Imperfect Action:
Waiting for everything to be perfect leads to inaction. Start now, refine later.
- Knowing What is Enough:
Understand your financial needs to avoid constantly chasing more money, which can lead to burnout.
The Mindset of Giving: A Key to Receiving
Both Eric and Jay emphasize the importance of a giving mindset to open pathways for receiving. Eric advises transitioning from a scarcity mindset by giving more, suggesting that people should donate 10% of their income. This act of generosity not only helps others but also fosters an abundance mindset, which is crucial for attracting wealth.
Common Mistakes New Investors Make: Lessons from the Trenches
Eric and Jay discuss common pitfalls many new real estate investors face. These include a scarcity mindset, chasing shiny objects, and failing to follow proper steps, ethics, and legalities. By staying focused and following proven methods, new investors can avoid these costly mistakes.
Overcoming Fear: The Roadblock to Financial Success
Fear is a significant barrier for many aspiring investors. Eric advises overcoming this by realizing that the perceived risks are often exaggerated. Building confidence and trust in oneself is fundamental to overcoming these fears.
To help with this, he offers an exercise to boost self-esteem:
- Write down five things you are grateful for every morning.
- List five things you never thought you could achieve but have already accomplished.
This practice helps in recognizing past successes, thereby strengthening confidence in future endeavors.
Scared Money Doesn’t Make Money: The Power of Letting Go
Eric highlights the concept that “scared money doesn’t make money,” stressing the importance of putting money to work rather than hoarding it out of fear. This mindset shift is crucial for achieving financial growth and independence.
In conclusion, this episode is packed with invaluable insights for anyone looking to achieve financial independence through real estate. By setting clear goals, maintaining an abundance mindset, and overcoming fear, you too can reach your financial dreams.
“Dream Big! If Your Dreams Don’t Scare You, They Are Too Small” – Eric Vogel
10 Lessons Discussed in this Episode:
- Goal Setting for Success
Identify, create, and pursue clear, actionable goals to achieve significant milestones in your real estate journey faster than anticipated through focused and consistent effort.
- Career Transition to Real Estate
Learn how to successfully transition from traditional careers, such as teaching, to full-time real estate investing by understanding key market dynamics and implementing effective investment strategies.
- Mastering the BRRRR Strategy
Leverage the BRRRR method (Buy, Rent, Rehab, Refinance, Repeat) to rapidly grow your rental property portfolio, increase your cash flow, and achieve financial independence.
- Calculating Your FIRE Numbers
Determine your financial independence numbers, such as LeanFire, Midsize FIRE, and Fat Fire, to plan and guide your path toward a secure and prosperous retirement.
- Embracing a Giving Mindset
Adopt a mindset of giving to create an open pathway for receiving. This energetic reciprocity is crucial for fostering compound growth and personal fulfillment in your real estate ventures.
- Overcoming Investment Fears
Learn to overcome the common fears associated with real estate investing by recognizing that the perceived risks are often smaller than they seem, and by building trust in your capabilities.
- Prioritizing Cash Flow
Understand the importance of prioritizing cash flow over the number of properties. Sustainable and profitable real estate investments are built on a strong foundation of consistent cash flow.
- Avoiding Shiny Object Syndrome
Stay focused on your real estate goals by avoiding the distractions of Shiny Object Syndrome. Remain steadfast in your strategy and resist the temptation to chase every new opportunity.
- Boosting Self-Confidence
Enhance your self-esteem by reflecting on your past accomplishments and expressing daily gratitude. This practice builds a resilient mindset, crucial for overcoming obstacles in real estate.
- Understanding Scared Money Dynamics
Recognize that scared money doesn’t make money. Overcome fear and allow your capital to work efficiently, enabling better returns and fostering financial growth in your real estate investments.
Fun facts that were revealed in the episode:
- Career Transformation:
Eric Vogel and his wife made a remarkable transition from being high school teachers to full-time real estate investors, hitting over 7 figures in business growth in just four years—an impressive feat by any standard.
- Power of Giving:
Vogel believes strongly in the power of giving and suggests that to overcome a scarcity mindset, people should donate 10% of their income. This approach not only helps others but opens the door to receiving more in life.
- Boosting Self-Confidence:
Eric shared a unique daily exercise to improve self-confidence: each morning, write down five things you’re grateful for and five significant achievements you never thought you could attain. This practice helps reinforce a positive mindset and builds self-esteem.
Timestamps:
00:01 – Raising Private Money Without Asking For It
04:40 – Achieved financial freedom after 3 years of renovating.
07:49 – Be cautious of vanity metrics in real estate.
11:49 – Focus on ethical, legal, and mindset change.
15:57 – Cultivate a spirit of giving for financial independence.
20:16 – Recommend reading “Making It Big on Little Deals.”
24:13 – Focus on gratitude, reflection, and personal growth.
27:53 – Visit https://onpurposeinvestor.com/privatemoney
for materials and webinars. 50% discount available with code RPM24.
28:39 – The Program provides extensive support and community resources.
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Jay Conner is a proven real estate investment leader. Without using his own money or credit, Jay maximizes creative methods to buy and sell properties with profits averaging $67,000 per deal.
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Transform Your Financial Future: Eric Vogel’s Strategies and Jay Conner’s Real Estate Insights
Jay Conner [00:00:01]:
Welcome to another amazing episode of Raising Private Money. I’m Jay Conner, your host, also known as the Private Money Authority, And this is the show where we talk about how to raise private money for your real estate deals without even asking for money. Now, in addition to that, I have amazing guests who come here and join me, and today is no exception. Today, my guests, we’re actually going to be focusing in on his favorite subject, which is intention. And that is, what is it that you need to intentionally do in your business in order to achieve the results and the goals that you want? Well, his backstory is pretty interesting. He actually was a high school teacher for 8 years, and after he’d been teaching high school for 8 years, he left his day job. Well, actually, when you’re a school teacher, that’s like 24 hours a day.
Jay Conner [00:00:53]:
He left that to become a full-time real estate investor. Well, very, very quickly, his business grew to over 7 figures a year, and he did that in a very, very short, quick 4 years. That led him to ask himself the question, how is it that he and his wife achieved so much success in such a short period of time without struggling and facing the challenges that most real estate investors experience? Well, they quickly realized that it was their unique ability to put together these actionable goals and achieve them in a very, very short period of time. In fact, in a fraction of the time that they initially thought they could. Well, that’s what we’re gonna dive into today. How can you get your real estate business put on, like, jet fuel to get things accomplished? We’re gonna dive in in just a moment. You’re gonna meet my special guest, Eric Vogel, right after this.
Narrator [00:01:55]:
If you’re a real estate investor and are wondering how to raise and leverage private money to make more profit on every deal, then you’re in the right place. On raising private money, we’ll speak with new and seasoned investors to dissect their deals and extract the best tips and strategies to help you get the money because the money comes first. Now here’s your host, Jay Conner.
Jay Conner [00:02:23]:
Well, hello there, Eric, and welcome to the show.
Eric Vogel [00:02:26]:
Jay, it is an absolute honor and pleasure to join you today. Thank you.
Jay Conner [00:02:31]:
Well, it’s my honor and pleasure to have you. Now, Eric, you’ve got you and your wife have got quite the story on accomplishing so much, like from going from scratch, no business, never having any experience, to having just phenomenal results and success in a very, very short period of time. I want to dive into that in just a moment. But first of all, I want to hear the story. My audience wants to hear the story. There’s quite a jump from high school teacher to phenomenal successful real estate investor. Tell us about that and how in the world that happened.
Eric Vogel [00:03:10]:
Well, I’ll give you, as quick a version as I can. We started in 2017 with an accidental rental. I moved out. I couldn’t sell the house. VA loan, 0 equity. And my real estate agent said, how about you rent it out? I said, well, sounds like a great plan because I ain’t got $8,000 to bring to the table to close it. So I rented it out for 1 year and met my wife during that time. She said, Eric, you’re a horrible landlord.
Eric Vogel [00:03:33]:
Let me help you. So we dove into education and figured out how to become a landlord, and in that, realized how much money you could actually make in real estate investing. So that led to us figuring out how to become real estate investors. Well, we dove into all the education on how to buy, rent, rehab, refinance, and repeat the, you know, the process. And, obviously, we did the BRRRR strategy. And so we found a lot of dilapidated properties. We fixed them up. We rented them out.
Eric Vogel [00:04:04]:
We refinanced them, and that quickly snowballed. And now that’s 2017, 18, 19, 20, right before the ramp-up. So we were able to accumulate a lot of properties in a short amount of time using that strategy. It was about 2019 that I realized I had already replaced my income, and we’re well on our way to replacing my wife’s income. So let’s quit our jobs and start living a life of financial freedom. Now in that process, it wasn’t all, you know, horseshoe I mean, rainbows, butterflies, unicorns. It wasn’t all that. There was an incredible amount of sacrifice.
Eric Vogel [00:04:40]:
For about 3 years, we did not have connections to the outside renovation. We were just heads down buried in the sand figuring out how to make it out of our w twos. Because we started with the goal in mind we want to be financially free and have the freedom to do what we want when we want, when we have kids. So it was about a month after we had our first baby that my wife’s maternity leave was ending with her job, that we finally ran the numbers, and we’d been keeping track of it. And we had just done a rent raise across the portfolio of about $15 a, a house. And with that rent raise, across the large portfolio, we had hit our number. We were financially free. And so fast forward to today, we’ve just been continuing the process.
Eric Vogel [00:05:27]:
We’ve changed strategy here and there a little bit, but it all started with the goal in mind of where do we wanna be, how are we gonna get there, when do we know that we have enough, and then what we need to cut out to get there?
Jay Conner [00:05:41]:
How do you know when you’ve got enough to quit your day job?
Eric Vogel [00:05:45]:
Well, there’s a lot of different factors you can call it. A lot of people call it your monthly nut. We called it our lean fire number, which is a skinny version of your financial independence retires early number. And so we figured out what were all of our recurring bills that we could not avoid. And then we took that number, and then we added about 25% to it and said that’s gonna be our LeanFire number. And then we’re not gonna actually retire until we get to our midsize FIRE number, which was about 50% more than our actual number. And then one day soon, we’re gonna hit our fat fire number, which is 200% more than what our monthly income and, you know, unescapable bills are.
Jay Conner [00:06:35]:
Yes. Yes. Similarly, I call it the freedom number. I like the way you’ve got it broken down though. You’ve got, like, different levels of that of that freedom number. Also once someone knows what that number is, I like walking people through the exercise of backing into what have you got to do and what have you got to specifically accomplish in order to get to that number? For example, you know, I’m in the world of private money. We do a lot of flips. And I’ll say, okay, well, you need x amount per month to really enjoy life the way you want to enjoy it.
Jay Conner [00:07:13]:
And here’s your set bills that you know you got. Well, in order to do that, how many deals have you got to do? Well, how many deals? Well, that depends on what your average profit is per deal. Of course, in your model, it’s not a profit per deal. It’s actually cash flow. Right? Right.
Eric Vogel [00:07:28]:
It’s it’s absolutely cash flow.
Jay Conner [00:07:31]:
Right. Now you mentioned that you really, really grew your portfolio quickly as I know you did, and you had a large number of rentals, a large number of portfolios. Well, the audience wants to know what is your definition of a large portfolio. How many properties and houses did you grow that too?
Eric Vogel [00:07:49]:
Well, I’ll tell you what. There is a vain or a vanity metric out there that people love to broadcast, and that is how many properties or how many doors you have. And, you know, I just got off of a a conference I went to in Atlanta just recently, and there’s there’s that vanity metric of how many doors do you got. Well, Jay, if I told you I have 500 doors, would you be impressed? And, hopefully, your answer would be it it really depends. But if I told you those 500 doors brought me negative $100 a month each, That’s not a great portfolio to have. But if I told you I had 100 doors and they all made $100 each, then that would be quite impressive. Now to reach our fire number, we did get up to 20 properties that were cash flowing very well. And then we started to figure out, okay.
Eric Vogel [00:08:36]:
Some of these properties are really high-touch. I wanna spend more time with my kids, so let’s 1031 exchange out of that and move some things around and really work on making our independence very, you know, low touch so that we can continue to spend our days doing what we want to do.
Jay Conner [00:08:54]:
That makes a lot of sense. Absolutely. You can have 500 doors and be losing money. I mean, it’s like, how much revenue it doesn’t matter what business you’re in. How much revenue you gross per year means absolutely nothing. I mean, annual gross revenue could actually be gross.
Eric Vogel [00:09:14]:
Quite gross.
Jay Conner [00:09:16]:
Depending on your overhead, depending on your number of employees, depending on the expenses you’ve got, you know, going out the door. When you started out, and we’re gonna get in here, for the sake of the audience, we’re gonna get in here in just a moment on how it is exactly Eric grew his business so quickly. But first, you know, when someone is starting out, there’s always the danger of some very, very costly mistakes. If somebody don’t know what they’re doing or they haven’t been educated or trained very well. So I’ve got a 2-part question. I’ll go ahead and give you both questions. You can answer them in order. The first question is, when you were starting out, what were some of the early mistakes that you made and what would you go back and do different lessons learned from those mistakes personally yourself?
Jay Conner [00:10:06]:
Early mistakes. 2nd question after that is when you’re observing new real estate investors, what are some of the common mistakes that you see new real estate investors making, and what could they do to avoid those mistakes?
Eric Vogel [00:10:21]:
Thank you for asking that. So some of those early mistakes we made were not actually tangible mistakes. They were all mental mistakes, and it was quite frankly, what is scarcity and what is abundance? And most of us in life, you know, approach money, approach opportunity, approach our life with a scarce mindset. You know, there’s only a finite amount of resources that that there are available to you. Like, there’s only a finite amount of deals, so I have to be stingy. I have to grab everyone that I can and hold on to it. There’s only a finite amount of money out there. I have to be very careful with how I’m giving money out or how I’m using my money.
Eric Vogel [00:11:00]:
And that’s one of the biggest mistakes that we made in the very beginning was that we were hyper-scarce because we didn’t want to get into a deal and then not have enough money for the next deal. So we’d always wait for the next deal until we were done with that first deal and didn’t realize that there’s an abundance of money out there of people that want to give you money to do deals if you just go find them. And so what really bogged us down in the beginning was I was doing all the work on the properties. I didn’t get out there and hunt more deals while I was under contract and working on the first one or the second one. I wasn’t scaling. And so it was quickly that we realized I couldn’t work in this business. I have to work on the business, and I have to be abundant in my thinking that there are plenty of deals out there. There’s plenty of money out there.
Eric Vogel [00:11:49]:
If I go find the deals, the money will follow, and if there are too many deals that I come into, I can share the gift of that deal with others and still remain a part of that deal. So that was a real big struggle in the very beginning was just a scarcity mindset. And what am I seeing with new investors coming in? What common mistakes am I seeing is they’re all chasing the shiny objects out there. We see so many gurus on Facebook, Instagram, TikTok, whatever social platform you’re on that is pitching these sexy ideas on how to wholesale, on how to subject to, on how to wholesale subject twos. And while all of these things are really interesting, really flashy, and they always show these closing checks and how you can generate $50 a month over this, this, this, it’s really, really hazardous if you’re not following the proper steps. And in saying that, you have to be above board morally, ethically, and above all, legally because you can find yourself in a trap. And none of these gurus are gonna be able to solve your mental problems. None of them are gonna be able to get you over the hump of how am I actually going to change as a person? And that’s where it really starts how do you change your thinking? How do you change your mindset? There are so many steps to do that, and it doesn’t happen overnight, and it definitely doesn’t happen with a $3,000 program that you found on Facebook.
Jay Conner [00:13:20]:
Well, let’s dive into that, and that is how do you fix the mindset? You know, I tell new real estate investors all the time. It’s gonna be very, very difficult for you to invest in real estate until you own the real estate that is between your ears. Right? And, so I want us to dive into that. But before we do, you talked about mistakes you see as new real estate investors, chasing the shiny objects, the shiny object syndrome. By chance, Eric, have you ever heard of or read the book by, Napoleon Hill titled Outwitting the Devil?
Eric Vogel [00:14:03]:
Now that’s one Napoleon Hill book I haven’t gotten to yet.
Jay Conner [00:14:06]:
Well, you’re gonna love it because it’s the essentially, here’s what it says. Essentially, essentially, the devil says, I don’t have to, like, tempt, you know, Jay. I don’t have to tempt Eric with these immoral things or sin or temptation like you would generally hear. He says all I gotta do is distract him from what he’s trying to achieve. And so that shiny object syndrome is exactly what you said. It’s all about distractions or and getting rid of distractions and staying intentionally focused as you are a master at. So let’s dive into that. Let’s dive into that.
Jay Conner [00:14:50]:
How do you fix it, I know we can’t fix this or answer the question in the time we have on this podcast, but we can we can we can start chipping away at it. What’s the very first thing that you advise other people to do in order to start fixing the scarcity mindset? To start fixing the mindset to where they can be intentional and stay focused on what they need to stay focused on.
Eric Vogel [00:15:17]:
Right, Jay. So I feel like there are 2 answers to that question and 2 questions, in the question How do you get out of your scarcity,
Jay Conner [00:15:24]:
And then how do you start taking action?
Eric Vogel [00:15:24]:
One easy way to get out of scarcity that everyone should be doing is to start giving more. Because once your hands are open you are not worried that what you give is never gonna come back to you in any way. You have to get rid of that mentality. Start giving. Give to a church. Give to a charity. Give to your local community in some way. And I urge everyone, go ahead and take 10% of your income and start giving it away.
Eric Vogel [00:15:57]:
Until you get into the mindset of giving, you will be closed to receiving, and the receiving end of that can be monetary, but more than likely, it’s gonna be energetic. And the energetic reception of giving is going to be compound growth. And we know the most powerful force on the face of this earth is compound interest, but I beg you to just think how powerful is compound growth inside your mind and inside your heart. And then the other side of that, you know, how can we start to gain clarity and focus on what do we actually need to do? You have to become very intuitive with who you are. To do that, I’ve developed a program that that really helps to uncover and peel back the layers of that onion to figure out who is it really on the inside of your skin and what they really want out of life. There are too many folks who end up on their deathbed who wish they would have achieved more, wish they could have, wish they would have made different decisions, and I don’t want that to be you. So how do you really get there? Well, I have an awesome little, flyer on my website that you can go download right now, print, and put on your mirror in your bathroom It will give you these 5 pillars that my business stands on, which gave me the clarity and focus, and my wife and I, the clarity and focus to reach financial independence. And it really starts with the biggest pillar, the cornerstone, the foundation of is why do you want it? If there’s not a big enough why, if you don’t know why you want to achieve independence, financial independence, or just safety and security in your later years of life, you’re never going to achieve it.
Eric Vogel [00:17:40]:
And then above that level is dreaming big. We often do not dream big enough. If your dreams don’t scare you, they’re too small. And then above that is setting actionable goals, and that comes into setting like a 3-year target and then backing up into setting actionable weekly, daily, almost hourly goals. And above that is taking massive, imperfect action. Don’t wait to take action until you feel like you have everything lined up. Start taking action on your goals. And then at the top of this is what we all strive for is financial freedom and knowing what is enough.
Eric Vogel [00:18:18]:
That way when you get there, you don’t burn yourself out and ruin it.
Jay Conner [00:18:25]:
I love your first piece of advice, which was to start giving more. Start giving more. You know, you read in the Bible and it’s in a lot of places, and that is, it’s not about reaping. It’s not about reaping. It’s all about sowing. It’s all about sowing. I can’t reap anything. I can’t get anything back until I have given energy to it until I have sown.
Jay Conner [00:18:53]:
I mean, there ain’t no corn coming up out of the ground until the seed is put in the ground. So obviously we’ve got to take action first. I’m so glad you brought that up. Let’s play a little game, Eric. Let’s say I’m a brand-new real estate investor. Let’s say I haven’t done my, I haven’t done my first deal. I haven’t even done a deal yet. But, I’ve been to the seminars.
Jay Conner [00:19:17]:
I got my education. I’ve read the books. I’ve hired a coach or a mentor. I’ve been given all the information that I need in order to make wise decisions on what offer I should make, what the offer should look like, and what’s the maximum amount that I should offer on that particular property. How much private money, if I’m borrowing private money, should I do? I know how to do subject-to-deals. I know how to do creative financing. I got it. I know it. But yet, I’m scared to death to make an offer because I’m afraid I’m going to screw up and I’m going to lose money and it’s just going to make a wreck of my life even worse than it already is, even though I’ve got all the knowledge.
Jay Conner [00:20:08]:
What would you say to me as to how to overcome my fear?
Eric Vogel [00:20:12]:
I would give you a
Jay Conner [00:20:12]:
Fear fear fear of fear of screwing up. Fear of screwing up.
Eric Vogel [00:20:16]:
Right. There are 2 things that I would I would bring up. 1st I would give you a book called Making It Big on Little Deals or Building Wealth 1 House at a Time. Think that’s the same book by John Schaub. I would give you that book and and just read that book and realize that you make bigger, scarier decisions than failing on, you know, some type of, small real estate deal. You make decisions every day that are way bigger than that, as in how much are you contributing to your 401 k? Are you really securing financial independence when you turn 62? Are you really hoping and gearing or or hoping and and relying on government pensions? Are you really relying on these other pension systems to take care of you when you’re 62? I promise you, you’re gonna be underwhelmed when you get there, and you see that it’s nowhere near as much as you thought it would be. So first, I would give them that book and say read this book and realize it’s not that big of a risk. 2nd, what I would do is I’ve lost my thought.
Eric Vogel [00:21:22]:
But I would, first of all, give them that deal.
Jay Conner [00:21:24]:
Let me tell you something, Eric. Let me let me give you some encouraging news. It’s not gonna get any better.
Eric Vogel [00:21:32]:
It came back to me. I do have it back now, Jay.
Jay Conner [00:21:35]:
This I knew if I knew if I bought you a second or 2, it’d come back.
Eric Vogel [00:21:39]:
Yeah. I’ve got a 3-year-old and a 1-year-old, and that is what is causing the fog, I guess it is. But the second thing I would tell them is Warren Buffett is one of the most successful investors out there. He has one simple principle when he invests in a business a a deal or a transaction. He has one simple principle, and that is, do I believe and trust in this vehicle? Do I believe and trust in it? And I’m not asking these investors to believe and trust in real estate, because that is a tangible thing. I mean, that is a variable thing. What I’m asking them to believe and trust in is themself. Do they bet on themselves to be successful? And so I ask people all the time.
Eric Vogel [00:22:22]:
Well, how much do you trust yourself? How much do you believe in yourself? And until you firmly believe that you can do it, you will not do the deal. You’re not gonna do it until you firmly believe that you will not fail. You will not give up, not on the deal, but on yourself.
Jay Conner [00:22:40]:
It’s funny you say that, Eric. I say funny, not funny but it’s interesting that you say that because when it comes to belief and trust so, I’ve been saying the same affirmations every morning for, 23 years, and I say them with my live event attendees every time. And here’s the affirmation. Raise your right hand, right hand over your heart, raise your left hand, here we go. I believe in myself. I believe in others. Others believe in me. I trust myself.
Jay Conner [00:23:10]:
I trust others. Others trust me. And you’re so right, Eric. Until that is a foundational subconscious in your heart, in your soul belief, it ain’t gonna happen. Right?
Eric Vogel [00:23:22]:
It’s not gonna happen. People are the only real obstacle out there. You know, there’s no financial crisis or economic collapse or, you know, empty bank account out there that is unsolvable. All of those are solvable. The one thing that is not solvable is your conviction that you are possible, that you can do it. That is the only thing that is unsolvable is that you have inner work to do. You have some convincing to do. Whether you gotta read that every day 5 times a day until you actually believe it, you gotta do it.
Eric Vogel [00:23:56]:
You’ve you’ve got to believe in yourself.
Jay Conner [00:24:00]:
Eric, let’s say I didn’t believe in myself.
Eric Vogel [00:24:02]:
Oh, boy.
Jay Conner [00:24:03]:
Let’s say I didn’t. Let’s say I didn’t believe in myself.
Eric Vogel [00:24:05]:
Yes, sir.
Jay Conner [00:24:06]:
What would you say to me? How do I fix that? How do I fix it? How do I get confidence and I have, like, negative confidence?
Eric Vogel [00:24:13]:
Right. So I would I would give you an exercise to do. And what I would ask you to do is every morning, write down 5 things that you are grateful for, and write 5 things that you never thought you could achieve, but have already achieved them. There’s a great book called The Gap in the Gain, And a lot of people are searching for success in the gain, and they never feel like they’re accomplishing anything because other people out there are achieving so much more than they are. But I encourage them to look back. Look back on the last entire lifetime and think about where you started. How did you start your life, and where are you today? What kind of gap? What kind of gain is there? Right? The gap is in front of you, and you’re gonna achieve that. But look at what you’ve done.
Eric Vogel [00:24:57]:
Look at everything that you’ve accomplished in your life, and then I would have them journal on that or just maybe write down in bullet port point format of what have you accomplished so far. What are you telling me you can’t do it? Look what you’ve already done. And so it’s a it’s it’s a boost of self-esteem and a boost of confidence when you just point out you’re already successful, and you just gotta highlight it. You gotta bring it out because, you know, it’s easy to be pessimistic in this world. It’s easy to get down on your luck and get depressed or disappointed in your life. But until you start highlighting the things that you do have and the things that you have accomplished, that’s when you start to really believe in yourself.
Jay Conner [00:25:36]:
I love it. Great advice. You know, one thing I used to hear my dad say all the time, and he still says it, is he’s 91a half years old, He’s slap dab in the middle of a 350-house subdivision development that’s halfway built out. When I grow up, I want to be just like him. But I used to hear him say all the time, quote, unquote, he says, Jay, scared money doesn’t make money. What do you think about that quote, Eric?
Eric Vogel [00:26:03]:
Yep. Scared money. I mean, I’ve never heard that quote, but I’m just gonna try to mentally unpack it. I am not a great thinker on the spot, but you’re gonna see it in real life. So scared money doesn’t make money. And that’s the idea that you’re holding it too tightly. You’re holding it too close, and you’re you’re afraid that you won’t make the return that you’re searching for or that it won’t perform, or that you’ll never get it back. It’s probably related to scarcity versus abundance.
Eric Vogel [00:26:30]:
And, you know, if you’re afraid to put your money to work, it can never go to work. You know, all of the dollar bills you have in your bank account, stop thinking of them as dollar bills. You gotta think of them as workers. And they’ll never go get to work and start bringing you more money until you put them to work. And so if you’re just surrounded by this you know, you’re fearful of letting go of money because you’re afraid it won’t come back, you are obviously never gonna let go. And until you let go, it can’t come back.
Jay Conner [00:26:56]:
And that’s the opposite of the advice that you gave when we started out, and that is to start giving more. Right? Start giving more and stop trying to hang on to it. Eric, you mentioned a moment ago your website and that there’s a free resource there to download.
Eric Vogel [00:27:13]:
Yes, sir.
Jay Conner [00:27:13]:
What is what is that website? We can go ahead and give out to everybody and, the download, the free gift that you mentioned there. And any other way that you’d like for my audience to connect with you because, you know, I see it all the time. We can work with people. We can give them the tools. We can give them the information, the A to Z structure, etcetera. But the mindset is the most important. In my opinion, I believe mindset is at least at least 90% of your success. And the other, of course, is very important.
Jay Conner [00:27:46]:
You have to know what you’re doing etcetera. But the mindset is so important. What’s that website, and how else can people connect with you?
Eric Vogel [00:27:53]:
Yes, sir. So on purposeinvestor.com/products, you can absolutely go there and download a couple of my, flyers that I have that I print out and give to the people that I meet and say, listen. Just hold on to this. And when you come back around to it, just put some effort into it. I also have a couple of webinars on that page. But we also have a program called Level Up, and it’s all about leveling up your life and getting to the next version of yourself. So on the screen right now, you’ll see a link to visit on purposeinvestor.com/privatemoney, and that’s gonna take you to our landing page for Level Up. And if you scroll down and you go to the pricing, click on yearly, and use the code RPM24 and receive a 50% discount on the yearly pricing.
Eric Vogel [00:28:39]:
And when you do a program like this, you’re gonna come into not just, you know, videos and a manual and learn how to change your life. You’re also gonna be connected to a bunch of resources, a whole community of people that I’ve worked with to change their life. So you’re gonna be working with people that are at the other end of transformation to help you through all of the struggles you might be facing.
Jay Conner [00:29:01]:
Eric, that’s amazing. Thank you so much for those resources that you just gave out. And thank you so much, Eric, for joining me here on this show. Absolutely. There you have it, my friend. Another amazing episode of Raising Private Money. I’m so thankful and grateful that you’ve joined us here on the show. And be sure not to miss out on any upcoming episodes that we’re going to be releasing.
Jay Conner [00:29:25]:
If you happen to be watching on YouTube, be sure and subscribe and ring that bell. And we look forward to seeing you right here on the next episode of Raising Private Money with Jay Conner. Are you feeling inspired by the knowledge you gained in this episode? Then head over to www.JayConner.com/MoneyGuide.
Narrator [00:29:44]:
That’s www.JayConner.com/MoneyGuide, and download your free guide that shares seven reasons why private money will skyrocket your real estate investing business right now. Again, that’s www.JayConner.com/MoneyGuide to get your free guide. We’ll see you next time on raising private money with Jay Conner.
