Manage episode 275065228 series 2516289
A great deal of what we’re taught about money isn’t the truth, and also doesn’t allow us to achieve financial freedom.
We’re taught to park our money, while the institutions convincing us to do that are using it to expand their own wealth. When investing in rentals, we’re advised to pay off the mortgage as quickly as possible, instead of using the cash flow to create more opportunities.
All this information is geared towards us losing control of our money, so that other people can benefit from it.
When we see past the lies we were told about money, we are able to take our control back, and that knowledge shouldn’t just end with us.
Teaching our kids how money works is a critical step entrepreneurs should never skip. The earlier they learn how to put money in flow, the more equipped they will be to succeed in this world.
What are the key lessons we should be teaching our children to be good stewards of money and to nurture their own entrepreneurial spirit? Why is it important to shift our focus from the cash flow of an investment to the actual value of the loan?
In this episode, I’m joined by loan officer, entrepreneur, investor and author, Aaron Chapman. He shares the big mental shifts we need to have to stop blocking the flow of money.
Three Things You’ll Learn In This Episode
Why authenticity is important in this business When we become investors, we aren’t just people, we represent a brand. That brand should be built on authenticity, and not fitting into what we think a perfect investor should look or act like. When we try to be what other people tell us to be, we lose our identity. People and potential business partners respect us more for being who we are.
How to leverage our rental property mortgage Don’t spend extra money paying off your mortgage with your rental. Take the cash flow and do something to make you more money and increase your portfolio. With inflation, the cost of paying back that mortgage will reduce over time, and we get to pay less than we would if we were paying off the mortgage now.
Consumer mentality vs. an entrepreneur mentality The way we see money as consumers has to completely change once we become investors. We’re no longer a consumer preparing to spend money and go into debt. We are CEOs of a real estate investing firm, and we need to create a team of trusted advisors and to see beyond cash flow to the true value of the real estate.
Aaron Chapman is a loan officer, entrepreneur, investor and author. He is a veteran in the finance industry beginning in 1997; having exited mining, heavy equipment operation, welding and long haul truck driving. Since entering the finance industry his clientele has ranged from those purchasing their first home, building their dream home or investing in multiple properties for long term cash flow.
Presently ranked #14 in an industry of over 300,000 licensed loan originators for transactions closed annually (723 closed units for real estate investors in 2019, 707 in 2018 and 676 in 2017); Aaron is that battle-worn partner every real estate entrepreneur needs to walk through the tough parts of building a real estate business.
For more information, visit https://www.aaronbchapman.com/.