19 Sep Pain of Change
“Nothing changes until the pain of remaining the same is greater than the pain of change”
When things are good and the status quo is providing comfort, there is little to no incentive to do anything different. The old saying ‘why fix what is not broken” rings true. It is easier to follow the masses than it is to deviate and delve into something new. Many of us are taught to get a good job, get benefits and retire after working hard most of our life. I was on that same path. There was no other plan or options that I was aware of at the time. The steady paycheck was great. I knew what my hours were and when my lunch was scheduled. I finished my work at the end of the day so by the weekend every minute of it could be spent with rest and fun. I was oblivious to those who had no job or no money. I knew they existed. That was not my situation. I did not have to worry about it. I had money to spend and money saved.
Lots of things changed and it affected the status quo.
I lost my father to illness. Two years later, I lost my brother due to a car accident. I was ultimately responsible for my mother, sister in law and niece and nephew since there was no father. This was a heavy family duty and I was not prepared. If anything was to happen to anyone there was no way I was going to be able to financially take care of everything.
I used my savings and leveraged my money with real estate investments. Did joint ventures, participated in the rehab and actively managed the properties. Thought the Buy, Rehab, Rent, Refinance was the way to go. Did some selling of some of those properties into larger multi units. Expanded to other states. Thought the cash flow from the rentals would replace my income from the full time job and provide long term wealth. I was able to cut my hours at my job to part time, working only 2 days per week. Life was good. I had more free time and money coming in. Thought my wealth and cash flow was on auto pilot and easy street. Thought I was secure.
The economy changed, banking and the lending industry declined, and the real estate climate got stormy. Properties were not selling and some of the tenants were damaging the units and not paying rent. There are more vacancies and it is harder to fill them. Taxes and insurance was escalating. Income was decreasing and the expenses were increasing. The credit card companies cancelled most of the cards, increased the interest rate and/or lowered the credit limit. I was vigorously treading water and was going to drown. Something had to be done.
The situation was getting more painful. Help was needed and fast.
We had to take massive action, take more control of our business and manage it more effectively. We could not rely as much on others without better management. Successful mentors and guidance was needed. That was the reason we quickly attended the Cash Machine workshop and joined the Big Table. We had coaches for real estate and for the Big Table. We have mentors/coaches for our identity theft and legal service business.
They say what does not kill you will make you stronger. We had to do some short sales, move into another place, and actively manage the properties. While expenses were lowered, our focus had to be on generating income. It is said, you attract what you focus on. We are involved with Live Out Loud and the Cash Machine Workshops when it is in So. Calif. Being there always re-enforces learning and networking. The people there have become a part of our family.
Our PrePaid Legal business is taking on speed. We have a team of about 70. The support and training is incredible. We have formed great alliances and some of our team members will follow our path to success. It takes consistency + persistency. It requires making cold calls to company owners and sharing the information. It requires a commitment to help others. It requires a strong belief.
Success comes to those who do the things unsuccessful people do not do. Success comes to those who overcome insurmountable odds. Success comes in a Can not a can’t. These are all true
When will the pain of your present situation be great enough for you to do the work and make the needed changes?
Have you ever wanted more TIME? MONEY? FREEDOM?
then visit www.PrePaidLegal.com/go/LoisThrelkeld
“Turn Your Dreams Into Reality”