The great mentor Greg Reid once pointed out that successful people seek counsel from those who are doing what they seek. This is exactly the reason why you should be careful about whom you hang around with. Surrounding yourself with people who have a poor mindset and mentality will sound the death knell on your dreams and potential in life. Join Dan Zitofsky in this episode and learn why this is something you should take seriously, wherever you are in your goals in your business and in your life. Whether you’re in real estate or somewhere else, this will serve as your wakeup call that not everyone you associate with will have your best interests in mind. It’s time to cut bridges with those who don’t.
Listen to the podcast here:
Are You Being Destroyed By Those With A Poor Mindset And Mentality In Your Life?
Poor Mindset And Mentality Will Destroy You
It’s important to talk about a couple of things here. I’ve been going through a lot. Sharing a journey for somebody who’s going through the positives, negatives, and watching how we get through it might help somebody else. That’s why we do this. Once again, we’re not doing this for money. The only thing we ask you is to get out there, like it, share it if you find value. If you don’t find value in it, don’t share it. I hope you find a ton of value in this. I thought this was important to put out publicly. Most people in this world have limited mindsets. They live in scarcity. They hang around people that have limited mindsets. One of the people I value and someone who’s like a mentor to me is Greg Reid from Secret Knock. I’ve been close in a lot of his events and I’ve got close to a lot of people there. Greg says something that sticks with me so often. I think about it and I talk about it. He says, “Successful people seek counsel from those who are doing out what they seek. Failures will listen to opinion from those who never accomplish what they’re looking for.”
He doesn’t say it exactly like that but I want to break it out to what he means. Think about it this way, successful people seek counsel. I talk about it and mentorship all the time. This is not to talk about getting a mentor. This is to get you to think about what you’re looking for in life. I’m in the real estate investing world and I raise capital in my world, I provide decent returns and passive income. If you want to seek counsel and be successful in that field, you want to seek somebody out who’s successful. You don’t want to seek somebody out who’s not successful.
If you want to get in great shape, you’re not going to find the fat person that doesn’t do anything, sits on their ass all day, eats Bon Bons, and watches Netflix to get you in shape because they put out a great video. If you want marriage counseling, if you’re having problems in your marriage, you’re not going to seek out the men or the women that are cheating on their spouse and have been divorced 3 or 4 times. If you were going to seek financial advice, you’re not going to a financial advisor. You shouldn’t, because a lot of financial advisors, unfortunately, out there, can invest their way out of a paper bag. They sell you whatever they’re told to sell you because of the commissions. You’re not going to go to somebody for financial advice if they’re piss-poor, had filed bankruptcy, and much of times, have terrible credit, can’t pay the bills, have judgments against them.
That’s what this is about. I say this because I’m having a conversation with somebody I consider a friend who wants to start investing in real estate and it brings up all these memories of all these people I’ve helped in real estate build a portfolio of passive income with rental properties in emerging markets. Some of them should do their due diligence and they do. You should do due diligence on anything you do. Some of them will turn around, do their due diligence, do a great job, as scared as they might be, they jump in. You can sit there, you can nitpick everything, you can educate yourself until you’re blue in the face, you could be an expert then go and show up at every event and you don’t take any action. You can do all that. Every deal I jump in, my stomach turns a bit. It never gets different but I jump in.
Behold The Naysayers
I don’t say jump in without doing due diligence. Once you commit to jumping in, be careful because here’s what’s going to happen in anything you do. You’re going to have the naysayers, the negativity, the people with scarcity, and the people that are jealous. They’re all in your network. That’s the way it is. I look at my network and I have some great friends, family, not-so-great friends, and some family that might not want the best for you. It’s the way it is that people get jealous. Some people are there for you when you’re successful and they will never be there for you when you’re not successful. They’re your best friend when you go out to D-Mac’s because they want you to pay for them and you’re the car to go. The minute you don’t have money or you’re down and out, they won’t be there for you. Here’s what happens, you take a step in the right direction for you and your family to reach the goals, your vision, whatever your vision is. I’m not talking about goals as much as I talk about vision because it’s different. Whatever that vision is, you take those steps necessary to reach those goals, which is important.
You start telling people, you go to a party and say, “I bought my first property. I’m on the contract. I’m excited.” Most people have never owned a rental property, never funded a deal as a lender, never done anything but work a 9:00 to 5:00 job that they’re miserable with. They feel stuck because they don’t want to do what you’re doing and take action to make their life better. They will give you every reason, become the engineer, and destroy your imagination. One of my mentors and somebody I aligned with Shawn Escoffery, he’s phenomenal. He’ll talk about the imagineer, engineer, implements what Disney puts out, and something you should pay attention to.Your head is your biggest enemy. It’s your biggest naysayer. Click To Tweet
If you’re an imagineering on your business, they don’t even let you talk to the engineers at Disney. If you do and you discuss the project you’re working on, you will be fired. There’s a reason for that because your imagineer friends will tell you every reason why you cannot do this, why it’s not going to work, and why real estate is a scam. We have over 600 assets, but every other investor out there might have thousands of assets or might have ten assets and they were able to leave their job, retire their spouse, or pay for their kid’s college. If you start hanging out with the likes of Warren Buffett, BlackRock, and every major real estate corporation, you’d get a different response because those are the people you should be seeking counsel from, not opinions from, as Greg Reid says.
I bring this to you to open your eyes because I cannot tell you how many investors I speak with, whether it’s investors that have IRA money, 401(k) money, Coverdell, health savings account, or they want to build their own portfolio. The amount of investors I speak with on a daily, a weekly basis, compared to the amount of the investors that go through what they tell me they’re going to go through is mind-boggling. I appreciate that. I’ve got Paul saying, “The biggest naysayer is a space between the ears. Master this and the people around you won’t be that big of a deal.” That’s why I’m bringing this stuff here. Your head is your biggest enemy. Think about what you’re putting in. Your brain is your sponge. It is your biggest muscle. It’s your fight-or-flight. Think about what you’re putting in and who you’re letting inside that head of yours. Look at what they’ve done. I had a deal and I cut it off. I tell the investor I can’t do business with them because I had a friend who was a lawyer outside of the state we lived in and the lawyer was giving them all this advice. He never did investment properties. I said, “I’m not here to fight your lawyer. I’m here to help you. If you don’t feel we’re helping you, we’re not the right fit.” I have no problem not being the right fit for somebody.
Where I have the biggest problem is it bothers me because I see somebody that could be successful and what their goals are and what they want in life. Somebody else is stealing your vision. They’re inside your head and destroying your vision. They’re not looking out for your best interest in any way, shape, or form. Think about the people who told you you couldn’t be successful. Think about the people that told you you need to go to college, have good grades, have a good job, and work for somebody else when that wasn’t your vision. I’m not saying that’s terrible. I’m saying that might not be your vision. If it’s not your vision, why are they stealing that from you? I had a real dear friend of mine, Neil. He had shared with me that he met with somebody at a mastermind. When I meet somebody, I try to join groups, masterminds or mentorships. I have my own mentorship that I do. I’m starting my own group up again. I like to be the dumbest person in the group. It’s not too hard. If I had a cohost here to be like, “You should be joining any group.” I’ll be the dumbest in the group.
The Power Of Six
We talk about it and we say, “What makes somebody go from a millionaire to a billionaire?” That’s impressive. A millionaire is not impressive. It’s easy to do but it’s not impressive. I don’t know how many millionaires are out there. I should look at the number for it, and I didn’t know I was going to go into this. Many people might think I’m being pompous. I’m not being pompous. A millionaire is not a hard thing to do. Get out of your own head and you’ll become a millionaire. How do you become a billionaire? That’s impressive to me. Even $100 million is not as impressive anymore. How do you go from a millionaire to a billionaire? The people have heard me talk about this is the PSX, The Power of Six. They say with the Power of Six, you’ve got to look at who’s in your network. I’m not talking about your family because your family is not going to kick you out of their life unless they’re toxic. I’m not going to even talk about that. That’s a different show. The Power of Six is, think about it as a board of directors in your business, people that you network with, you mastermind with, help you, and they’re a part of your team, whatever it might be.
You think about the six people that you want in your life that you could bounce ideas off of, that will hold you accountable, push you to that next level, and get the best they can get out of you. If they’re not part of that Power of Six, they might not make the Power of Six, it might be Power of Eight. That doesn’t work. It’s Power of Six. I put a POSix out there. I have a good friend of mine, somebody I’ve watched grow tremendously and somebody I value, Kyle Milam. If you’re not following him, he’s another great guy. I hit him and he’s like, “Should I look this up?” I’m like, “No, here’s the paper on it. Read it.” The Power of Six is important because think about who you have in your life. Unfortunately, sometimes it’s your spouse, parents, brother, sister, or best friend. If they’re not successful in their own right, they might be successful in their job, their 9:00 to 5:00, that’s great. They might be a doctor or lawyer. The worst, unfortunately, are lawyers because they think that the word lawyer next in their name, they know everything. Please, whatever I say, don’t hold this against me. I’m just telling you what I see in the industry.
Most of them are not humble enough to say, “Sorry, that’s not my field. I’m not an expert. I don’t know.” I have no problem telling people I just don’t know. I don’t have that egotistical mindset where I have to say I know everything. There are a lot of things I say I know, there are a lot of things I said I’ve researched, there are experts, and I always tag experts in my group. If there were an expert, reach out to them, talk to them, I have no problem doing referrals on that. That’s where the non-scarcity comes in. A lot of people refuse to share their network. I have no problem sharing my network. I’m not going to share it with my investors out there. When I say investors, I mean my lenders. I don’t know if you’re going to be a steward of their money. A lot of my investors in my group page become a real estate investor with Dan Zitofsky, and I will go out there and go to tremendous lengths to give people quality testimonials and feedback on people doing positive things.Once you stop chasing money, your life changes. Click To Tweet
I’ve had my lenders hit me up and asked me, “Would you fund this person’s deal?” I’m like, “I would fund their deal. If I had the money now or I’m interested in that, I’ll fund their deal their characters, and they’re ethical.” A lot of people wouldn’t do that. They’d be like, “No, I’m scared to give up my lender.” If you ask me for a lender, I’m not going to give them out to you. I’m scared to give up my contractors and my property managers. I’m scared to give this and tell you where I invest. I tell everybody where I invest. I believe in cooppetition, not competition. There is no way you could do this on your own. You need to share with people. I sit back and I listened to people and say, “If you’re not in my group, I’m not going to share. If you don’t pay me for my mentorship, that’s my paid mentorship group, you can’t get that information.” That’s a bunch of crap. Your mindset is screwed up that somebody should feed their due diligence on if they should work with you or not anyway. It’s all about your network and mindset. I thought about the people that take action and where they’ve come in the last several years.
I have some investors that have started working with me. I have one investor that has over 70 properties and works a full-time job as the CEO. He’s making more in his real estate than he’s making in the CEO position, but with the stock options, probably not. He’s planning to retire. He took action several years ago. He’s going to be over 100 properties easily. That’s a legacy that guy will be making because these properties are hot at the higher end. When they’re paid off, he’s going to be making over $100,000 potentially per month, passively on his real estate that his two kids are going to take over one day. He didn’t sit there and talk to all his friends about what he was going to do. That guy is making seven figures a year with the stock options. He didn’t talk about his $300 positive cashflow a month because that would have been embarrassing for people in that field. He put his head down. He stuck with people. He came to someone he knew who would do the right job from that he trusted and not everything went perfect, it never does. Anyone who tells you everything is perfect is lying to you. You better run, not walk. I put something out there and I started talking about what my thoughts are.
The Prosperity Inner Circle
I’m making some changes. I have my mentorship group I’m part of with my mentor. I’ll be deep into that. I’m working on myself with people that are smarter and brighter than me. I need help in my business and on who I work with. I don’t like working with people that don’t want to help themselves. I don’t want to be selling, begging, convincing, and fighting with people anymore because they have a network of people that have a limited mindset. How do you change that? You step up to people you work with and you get out of the low mindset people. It’s unfortunate. You need to work on yourself. There’s not anything I can do with you on their investment side if you don’t work on yourself. I’m putting this out there. I’ve always chosen to simply give those people less access to me than other people in my life. We’ve got to get people to the level of access they deserve within our life. One hundred percent, I went through this, it’s part of my learning curve. I’ve gotten better at this over the last several years. I always felt guilty not helping people for free, but what I was doing is I was screwing them over because I wasn’t getting the best out of them. Free never works.
When things are free, people quit once things get tough. As long as it doesn’t cost them any money, time, or headache, they’ll do it but the minute it cost them some time, money or headache, they’re out. That’s why we charge, it’s an investment, it’s not a cost. Once we make people invest in themselves to work with us, we see great success. It’s the way it is. It’s human nature. I have multiple tasks. I’m a KPI guy, Key Performance Indicator. I look at numbers like crazy. That 80/20 rule is immensely accurate. I can show you a ton of ways why I know it’s accurate and I’ve proven it’s accurate. I thought this was important because this message needs to go out to many people. We will be bringing on a cohost and we’ll let you know who that is. We’re going to be talking about mindset, vision, life, some business strategies but it’s not going to be mostly business strategies, it’s going to be mindset like this.
I love the people on here. Share this out there. We ask you that you give us a review if you like it. If you don’t like it, if you have any questions, and if there are any topics you want us to talk about, let us know. This is going to be real. This is going to be one of the best podcasts. It’s not going to be a hyped-up, BS, and something that gets you to spend money show. It will be a show about life. Things that I’ve gone through and other people are going through. It’s not just about the real estate business. I’m going to try to keep it about people, process, systems, mindset, goals, visions, roadblocks, and skillset, those issues because people can use that anywhere they go. This should almost be called “anything in life” because that’s what it’s going to be about. I don’t make money on this. People aren’t paying for me. I have made the decision that I’m not going to do any ads on my podcast. I can’t say what’s going to happen in the future. I don’t do any sponsorship in my groups. I’ve been offered a total of $3,000 a month from sponsors in my groups from a couple of companies, and I refuse to do it because I want my group to be as organic and as clean as possible.
I want people to know that when I present something in that group, it’s something I would use myself if I could or would, or somebody I present is somebody I would work with or have worked with in the past because I know that they take care of the people the right way. They’re not there chasing the money and will screw somebody over. They’re the type of people that will tell others, “I’m not the right fit for you.” Like I am, I’m not the right fit for everybody. I told that investor, “Sorry, I’m not the right fit for you. Good luck with you. Good luck with your attorney. I hope they can help you in your endeavor and the vision we talked about but you’re scared that you will get in front of your own way every single time and you’ll never take action on anything.” That’s not something I’m here to do. I don’t have the energy, the patience, and the mindset to want to work with somebody like that. I’m going to end with this. The nicest part of any business is what I call lifestyle by design or my business by design.
I don’t work for an employer any longer. I don’t work for Corporate America. I do not have to work with anybody. I choose to work with who I want. The reason I’m able to do that is because I stopped chasing money. Once you stop chasing money, your life changes. I understand that everyone can’t go out there and stop chasing money because they need money to pay bills. Think about what happens when you stop chasing money. What do you start chasing? With me, everything I do is lifestyle by design. I create my life the way I want it, the perfect life. I have hiccups. I fall off track. I’m human. I put that out there. I was having a rough few days. I fell off track and I started working with the people that I knew I never wanted to work with. I was coaching people, while coaching, my one-on-one coaching. That’s changing a bit. I’m only going to one-on-one coach people on raising private money, but my real estate investing coaching, that’s not a one-on-one anymore. I’m going to a group mentorship and it’s not real estate investing group mentorship.
That will be a lot of real estate investment, it’s going to be called the Prosperity Inner Circle. It’s a group mentorship. We’re going to cap it out at fifteen people max. We’re going to interview the people before we let them in. It’s not just the money thing. You have to pay to get in. That’s going to go back to what we do in the group but I’m giving up a ton of money in one-on-one coaching to do this because one-on-one coaching has not been fulfilling. There are a few people in one-on-one coaching and the ones I work with, I love working with them. There’s a difference. I got caught up chasing non-insurance money. When I did my group coaching last time, people started to come to me and said, “Can you coach me one-on-one?” I always felt guilty not doing it because I know what’s out there. I know the junk that’s out there and I’m not here to talk bad about anybody else, but I felt I owed it to them to teach them the right way. What do I owe myself? Do I owe it to them to make myself miserable, to teach them the right way? Is it worth stealing from myself and my family? Is it worth stealing my mindset, my drive, my head, and what gets inside my head?
Same thing with investors. If you have a business, think about who you’re working with. I’m going to talk about this in another episode. Think about who you work with, though. Stop thinking about that and pay attention to future episodes when I start talking about who you should work with. I wanted to keep this laser-focused. I love you guys for being on here. I ask that you share it with at least five people that you think you get value out of it. I don’t have a dog in this race. I don’t make money on this. I’m doing this purely out of my love to help all the people to open your eyes, mindset, and vision so that you too could live that inner life prosperity. With that, I love you all. I wish you great success in mindset, financial, family, and anything you’re doing. I’ll see you on the other side. Take care.
- Secret Knock
- Prosperity Inner Circle