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Ep 110: The 5 traits you need to be a real estate investor | Cody Hofhine
05:15 – Cody wants to work something with his own. So he got himself in insurance, selling homeowners and auto insurance. After working a year and working 60 hours a week, he ended up making $19,000 for the whole year.
08:09 – Cody didn’t know the success principles behind how to really make things work, but Cody is driven and will work harder than anyone.
08:37 – 39 days after his journey in wholesaling, Cody did his first deal for 24,000 dollars. From there, it turns from faith to fact.
09:45 – Cody believes that rock bottom is the firm foundation to start building something on.
11:41 – Cody was so determined that if he trusts the process, he can make it.
16:05 – Money doesn’t buy happiness, it doesn’t bring sadness either, says Cody.
17:32 – When Cody paid off his home, he no longer woke up every Monday to work because he needed to pay his debt. He now wakes up every morning on how he can serve and help people to get their financial freedom.
19:32 – The first trait is Service Minded. Are you willing to serve people? Are you willing to be a problem solver? and are you willing to do it regardless if you are the best option or not.
20:45 – The second trait is Progress Not Perfection or Massive Imperfect Action. Perfect plans do not exist. You just have to go out there with imperfect action and be willing to take imperfect action and be willing to make mistakes. Those mistakes can train you more than Cody can train you. You will never lose. It’s either you win or learn.
22:46 – Third trait is Instruction Not Education. Commit to instruction,. Education is a flop, says Cody. He said that we are in trillions of dollars of debt in our nation for education, it is because there’s no instruction to lake action, it’s all education. Education doesn’t perform, instruction does.
23:57 – When people say that knowledge is power, Cody didn’t agree on that. He thinks that knowledge is power once acted upon.
24:07 – The fourth trait is you are the average of the five closest individuals you spent most time with. The average of five is be willing to take advice from those you trade places with. And if you are not willing to trade places with them, you also have to protect your mindset and throw it out.
25:31 – Go hang out with people that are already in the destination that you want to be at. And once you adopt with their habits and live the way they live, eventually you will become one of them.
26:50 – The fifth trait is income rarely exceeds your level of personal development. Income increases as your personal development increases. So if you want to be a millionaire, go build a rock solid million dollar mindset, and watch what magically happens to your income.
27:29 – Rarely will someone’s income exceed their level of personal development. It is always to train yourself and become someone better. Income will grow and will match the level of your personal development.
29:42 – To learn more, you can always head over to codyhofhine.com and his youtube channel.
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