Hey Moguls, Patrick Riddle here…
I remember an awesome Mogul lesson that my good buddy and fellow investor and Mogul advisor, Trevor Mauch, shared here on Mogul. He told us about the most destructive force to your success that sits in your home… the TV. The stats he shared were pretty alarming. The average American watches about 7 (yep, 7!) hours of TV a day.
Using some conservative numbers – just 3 hours of TV per day, 5 days/week, valuing your time at $50/hour – would cost you $1,800,000 over 50 years! And most people watch a heck of a lot more than 3 hours of TV per day.
Look, if you want to build a thriving successful REI biz and live an epic life, it’s time to start spending more of your free time adding value to your life, rather than getting the life sucked out of you.
Trevor challenged you to cancel your cable TV just like he did. Whether you took his challenge (if so, congrats!) or just drastically cut back the time you spend in front of the TV, here is what I want you to do: set aside 1.5 hours each week for reading.
As Ben Franklin said: “An investment in knowledge pays the best interest.”
Do you read good books regularly? Books that inspire, inform, educate? Books that challenge you to be, do and have more?
Let me tell you a story...
Growing up, I was never much of a reader. Any time I was supposed to read a book for school, I grabbed the Cliff’s Notes. I didn’t enjoy reading and didn’t feel like I was very good at it.
When I got into real estate investing, the first thing I did was venture into unknown territory - Barnes & Noble. I picked up a couple books, started reading one... and my life changed forever. Reading real estate investing books led to personal development... and everything non-fiction I could get my hands on to learn more.
I decided to become an avid reader (keyword “decided”). And over time, I started enjoying reading more and got better at it.
Since getting started investing in real estate, I’ve read hundreds of books (probably 350 or so)... on subjects such as communication, sales, marketing, management, finance, success, mindset, goal setting, business development... anything and everything that adds to the value I bring to the marketplace.
Got a question for ya…
Do you think all that reading and learning has had an impact on my success in businesses and life?
You bet it has!
It’s been big! Huge! ENORMOUS!!
I came across some interesting stats in Burke Hedges’ book, Read & Grow Rich (awesome book btw). Check this out:
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Statistic 2 – 37% of Americans never read another book after high school.
Hmmm… coincidence? I don’t think so!
In Harvey Mackay’s book, Swim with the Sharks without Being Eaten Alive, here’s what he says about the power of reading:
“Our lives change in two ways: through the people we meet and the books we read.”
If you’re not reading good books, you’re not changing. If you’re not changing, you’re not growing. If you’re not growing, you’re not on your way to building a thriving, fun and profitable investment business.
With all this said, are you committed to reading good books for 1.5 hours per week?
I assure you, this is one of the most valuable habits you can form. A measly hour and a half of reading each week is less than 15 minutes per day.
If you didn’t cancel your cable, could you watch 15 minutes less of TV each day? YES. Even if you were unwilling to sacrifice ANY of your precious TV time, could you wake up 15 minutes earlier each day to read? YES.
Commit NOW to this simple little habit: 1.5 hours of reading per week. That equates to about a book a month. It WILL change your life!
As Jim Rohn said: “To reach higher levels of success, you must stand on the books you read.”
Wondering what books to read? Here are a few of my all-time favorites:
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Maximum Achievement by Brian Tracy
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Think & Grow Rich by Napoleon Hill
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Unlimited Power by Tony Robbins
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The Five Major Pieces of the Life Puzzle by Jim Rohn
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The E-Myth by Michael Gerber
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No B.S. Time Management for Entrepreneurs Dan Kennedy
Happy Reading!
Feeling Bookish
What books do you recommend? Share below.
Consider limiting the amount of TV you watch each day – it’s taking your valuable time away from you.
Commit to reading a helpful and informative book for just 1.5 hours a week – that’s only 15 minutes per day.
Always continue to grow, learn and develop professionally
Patrick Riddle
has been investing in real estate ever since he got the bug in college at Clemson University and - to his parents dismay - dropped out of college to dive full-time into real estate at the age of 22 with a couple friends/partners from school.
The first few deals were rough for them, mainly using their own cash, credit, and hard money loans. But, soon he found out that was a rough and unsustainable way to build a real estate business.
After "on the job" learning through the school of hard knocks at first, he found the key that helped their company get deals done more quickly, with higher profit, less risk, without having to go to banks or use their own cash.
Fast forward to today, their company has closed over 130 real estate transactions and has put over $6 million in private money into their own transactions.