Podcasts: How do you take action?

Question

Question:How do you take action based on the Podcast Shows you've enjoyed?Why I Ask:Tonight, I am listening to Podcast Show 21. During my commute, I enjoyed Podcast Show 22. In the past few weeks, I have listened from Podcast 88 to 21. A tremendous education and great entertainment. With only a few weeks of listening remaining in my first pass through the Podcast Shows, I have begun to ask myself what I'll do with my time when I am finished?The short answer is take action. Specifically, I'll be: A) Engaging with BiggerPockets actively to learn and share what I have learned in the past 15 years of investing. B )Starting conversations with select Podcast Show guests. C) Hosting a regular brown bag lunch at work with select colleague investors to discuss what we've learned from the most recent Podcast Show. D)Finalizing my 2015 Q1/Q2 investment plan to transition from SFR to Multi-Family buy and hold. E)Reading one Podcast Show recommended Real Estate or Business book per month. Question:How do you take action based on the Podcast Shows you've enjoyed?

Jonathan Cope · Answer

Jon Strishak Your reply is spot on. As I read your thoughts, I was strongly reminded of the excellence of Think and Grow Rich. Admittedly, my post comes from the perspective of someone who has committed to be involved with real estate life long and base a meaningful amount of my current and future net worth on property investment. I find the podcasts to be a terrific and motivating platform. Strong thanks to Joshua Dorkin and Brandon Turner for the content and site culture. I am using the podcast content to learn, stay motivated, identify opportunity and beyond. Am curious how others, specifically those that have already achieved what you note as essential, are leveraging the podcasts to take action? Are you finding that they motivate you to take action? Again, I find your thoughts are spot on. Thank you, Jonathan

Account Closed · Answer

@Jonathan Cope Thanks for the post.The answer is, "you don't". You take action when you feel you're ready...to take action. The variables that going into deciding if someone is willing to take action are...(1) Thoughts: Do you have the information necessary to understand what to do and actually visualize yourself doing it? Have you made definite, time based, plans? Do you have enough information to take the first step (you'll never have all info)?(2) Emotion: Thoughts are not enough. You must feel that you can succeed because it is emotion mixed with thoughts that drives people to action. The world is full of smart people who never do anything...thoughts mixed with feeling drives people to action. Are you emotionally driven and feel that you can actually do what you thing? Have you surrounded yourself with other supportive people so you feel more comfortable taking action? It will help to write out your goals and visualize yourself DOING IT every day. (3) Faith: Success comes to those who BELIEVE, who KNOW they will succeed. How strong is your faith in the plan you have set forth for yourself? Do you believe you are capable of achieving what your planning? To get faith, tour investment properties, see the million dollar homes, surround yourself with others who are already DOING IT.Whenever people try new things they go through these phases. They might deal with them in different ways, but virtually all people use these techniques, consciously or unconsciously to accomplish challenging goals.

Jonathan Cope · Answer

@Brandon Turner Thank you. BP is proving to be a great motivator and educator for me. I have opted to continue with my plan above, in particular becoming more active across the forums. I have had a great time exchanging initial thoughts with members from lots of different areas and areas of expertise. Writing posts and responses is also helping me hone and focus my opinions about investing and my landlord experience to date. The Podcast Shows continue to be terrific. I have enjoyed listening to those focused on partnerships of late, such as 95 and 08, as I am working through the early stages of a promising one.I'll be reading your chapter on partnerships in the morning. I found it interesting how both @Curt Bidwell and @Al Williamson, of 95 and 08, were from such ethical backgrounds and the extent to which it made their businesses and partnerships stronger. @Joshua Dorkin is right to advise listeners that honesty is the only acceptable policy. Warren Buffett and Howard Marks, both investors I admire greatly, counsel that one should always take the high road. Mr. Buffett likes to quip that it also has less traffic. @Ann Bellamy just offered similar advice as I listened to Podcast Show 09. I enjoyed hearing her take on business as a native of Massachusetts - which I won't ask Brandon to say - and lover of New Hampshire. You all have created a great thing with these Podcast Shows. I look forward to learning more about how other BP Nation members are leveraging them in their business. @Christopher Doyle are you finding them useful for the way you are thinking about investment?Thank you again,Jonathan

Jonathan Cope · Answer

@Dawn Anastasi Thank you for your reply and sharing your first action point.I enjoy gathering the book recommendations, too.It is nice to hear you'll be reading some of the books soon.On a long flight recently, I opted to listen to the Audible version of Millionaire Real Estate Investor by Gary Keller, a book I had heard of but never read, based on a number of Famous Four suggestions.It helped pass the flight time quickly and offered some good perspective. @Joshua Dorkin and @Brandon Turner Thank you both for your votes today.They made me smile.It is a pleasure to have joined your community.I had the good fortune today to have a terrific introductory conversation by phone with one of your more recent Podcast Show guests.We live close to one another in New Jersey but would not have met and shared a nice hour as easily without your platform or Podcast Shows.We've agreed to stay in contact going forward as our investment intents are similar.Yet another connection you all have helped make.Thank you again,Jonathan

Brandon Turner · Answer

Thanks @Jonathan Cope ! I look forward to seeing you around the Forums!

Dawn Anastasi · Answer

Thanks so much for your comments and for listening to the podcast! Yes, unfortunately people you partner with can let you down. I do like listening to the podcasts, yes!I have decided to start reading some of the books recommended by speakers on the podcasts, so that was my first action point.

Jonathan Cope · Answer

@Dawn Anastasi That is kind of you to say. At times, of course, it feels that the path forward is more meandering than one would wish. But it is great fun to make forward progress through action or, admittedly, inaction. Sometimes not selling or doing is the better action to take, I know. I am an admirer of Warren Buffett and Charlie Munger. Mr. Munger reminds those who listen that buying right and then doing nothing from then on is often the best path forward. As I listen to the Podcast Shows, I enjoy the energy they provide me and the motivation to find that next wise buy or smart thing to learn. I enjoyed your Podcast Show greatly. Your story of boldness and perseverance was a pleasure to hear. A shame about how family let you down. Congratulations on your success to date. I am curious, do you find the Podcast Shows to be a useful and motivating tool?If so, have they led you to take any specific action?Best regards,Jonathan

Dawn Anastasi · Answer

@Jonathan Cope it sounds like you are taking positive steps on your own path!Congrats!