Paul Thompson, a former corporate worker turned real estate investor, shares his transformative journey from the corporate world to completing over 20 deals in just 18 months. He emphasizes that success in investing is heavily influenced by mindset, with 60-90% dependent on one's beliefs and values. Paul discusses the importance of multiple income streams for financial independence and challenges conventional wealth views by promoting experiences over money. He also highlights the value of networking and personal development for long-term success.
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insights INSIGHT
Mindset Importance
Mindset is crucial for investment success, influencing thoughts and feelings.
Factors like environment, events, and beliefs affect mindset, impacting potential.
insights INSIGHT
Mindset Percentage
Mindset contributes 60-90% to investment success, the rest being mechanics and knowledge.
Great investors likely think differently than most, a study suggests wealth distribution reverts.
question_answer ANECDOTE
Paul's Journey
Paul Thompson felt unfulfilled in his corporate job, realizing a lack of freedom.
A drive home highlighted his vulnerability as the sole earner, prompting his real estate journey.
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Published in 1937, 'Think and Grow Rich' is a seminal work in the self-help genre. The book is the result of over twenty years of research by Napoleon Hill, who studied the habits and achievements of more than 500 successful individuals, including Andrew Carnegie, Thomas Edison, and Henry Ford. Hill distills their wisdom into thirteen principles that, when practiced with persistence and faith, can transform dreams into reality. These principles include the power of desire, faith, specialized knowledge, organized planning, and the role of the subconscious mind. The book emphasizes the importance of maintaining a positive mental attitude, setting clear and specific goals, and taking consistent action to achieve success. It also explores the concept of the 'Master Mind' alliance and the need to overcome fears and doubts to achieve one's objectives.
Warren Buffett’s quote, “Until you can manage your mind, do not expect to manage money,” highlights the importance of mindset in success. Paul Thompson, a former corporate worker turned real estate investor, embraced this by shifting his mindset and completing 20+ deals in his first 18 months. Now, he helps others build wealth and passive income. Success in investing is 60-90% mindset, influenced by beliefs, values, and environment. Conversations with successful individuals like Paul reveal how the right mindset drives real estate and life achievements.
Throwback Thursday Episode (The episode originally took place in the year 2018)
Passive Real Estate Investing 