AYF 88 | Hope In Financial Crisis

 

A financial crisis seems to be just around the corner, but if you’ve played your cards rights up to this point, then you’re probably poised to do well instead of losing out. A financial crisis, if you’re ready for one, opens up opportunities, so you’ve always got to be ready to jump at those opportunities. Merrill Chandler talks about keeping your fundability alive so you can thrive in the middle of a financial crisis. Have hope, and don’t miss Merrill’s sage and timely advice!

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Keeping Hope In A Crisis

How You Can Still Have Your “Why” And Stay In Alignment With Your Dreams

We’re talking about not just what is your why. We had a version of that, an episode based on your why but that was before the bottom fell out both of our health and safety as well as the recession that looks like it might be making its tidal wave towards us. In this episode, we’re going to be talking about what it means to pivot and how to use your why, the motivation of your life to continue to grow and prosper.

We’re talking about how to pivot. What your why means in the middle of this pandemic? How it might be affected in the next 3, 6, 12, 24 months, and what we can do about it. The first thing I want to do is start with a story. Several of us on my team, Skigh Copier who is the bootcamp coordinator, Jessica Tabora and her husband. Jessica is my partner and business manager. We’re all on this cruise for the National REIA, which is the National Real Estate Investors Association. It’s the association of associations. I’ve gone for five years in a row. I’d like to share some of my observations about what happened there.

We get off of the cruise and three days later, cruising is shut down going out of Miami. Shortly thereafter the entire cruise industry dropped off the face of the map. Some of the bailouts that came over the next few weeks were specifically targeted to airlines and the cruising industry. We’re in the middle of an amazing cruising season and no ships are departing. Here’s my observation. We’re on this cruise ship and as I said, this was my fifth trip. I noticed as I was walking down next to the pool and out in the sun, everybody’s out there, I’m seeing hundreds and hundreds of cruisers. Many of them, if not most of them, were of the age of being retired. Some people would accuse me of being of the age of a retiree.

Use the motivations of your life to continue to grow and prosper. Click To Tweet

I don’t think I’ll ever retire. I’ll probably die doing bootcamp many years from now. The point was there were many people hanging out in the sun, hanging out in the pools and I was watching straight up. I’m a straight glutton on a cruise but I was seeing lots of other gluttons. I was not the only one and bless their hearts. No judgment because I am the guy who’s lying out on a sun deck looking like a beast whale. It was not pretty but I was not the only one. The dots that I connected, the observation was like, “How many of these people are this is part of their time and money freedom?” Going on a cruise, checking out, reading books, and chilling.”

Me the first day at sea, I decompress. I go to sleep and I sleep all day. That’s what a vacation is for me. I love what I do, so when I vacation, I’m not doing what I do. I check out and go unconscious for 1 to 2 days. I then wake up and I’m feeling like I’m able to walk and talk in a straight line. It’s usually crazy to get me to leave the business for 7 to 10 days on a cruise. I’m walking down and I’m seeing all of my peers out there and I’m wondering, “Is this their why? Is this part of their why?” Over and over again, I got to people we were at dinner with and people were talking in the hot dog line where you’re at the barbecue, you’re grabbing your plate there, they’re giving you hot dogs and hamburgers.

Everyone is sitting right there and you start to strike up conversations. You would not believe how many people were in their 2nd or 3rd. It was the most I’d ever asked. Some people were on their fourth or were planning four weeks in a row to do different cruises. They had their stateroom for 4, 2, 3 weeks. I don’t know if it was the exclusive part, but it was part of their why. When I say your why, what’s the go-to? What’s the motivation behind all this hard work, all the things you’re doing, all the fix and flip, the empires you’re building, you have fifteen dry cleaning franchises or all Bob’s Gyms, and all of the branches. All the things you’re doing and all the things I’m doing is because we have a why.

AYF 88 | Hope In Financial Crisis

Hope In Financial Crisis: With the right tools and funds, people can explore all their opportunities during the crisis.

 

As we talked about in the previous episode about our whys, sometimes we lose sight of that why. I know I get out in the weeds sometimes. I know that I lose focus on why I’m doing what I’m doing. I’m blazing ahead hardcore like the next thing. When I had this realization, I wanted to be able to come back and speak to that in one of our discussions here. A little one-on-one time to be able to say, “What do you mean by time and money freedom? What are you going to do with your time and money freedom?” We came off of bootcamp. That’s our first bootcamp of the Protect, Survive, Thrive, and Prosper edition. If you haven’t gone to it yet, you’ve got to. We had 100 people in this bootcamp, all virtual and all online.

We slated, there was much positive engagement. People were having a-has left and right for the questions that I’m asking. The needling that I’m doing about making a stand, how are you going to do it now that there’s a pandemic and people are afraid to go on a cruise or afraid to get on a plane? The numbers came in and it was 75% of all flights and seats are canceled. Only 25% of movement is going on in the airline industry. How are you fulfilling your why? How are you looking at your why differently? What motivations? If we’re trying to protect our health and well-being, does that shift your focus on your motivations?

Here at Get Fundable, my motivations have radically shifted. I’ve always been committed to an individual’s fundability. I’m sitting here seeing this goldmine that’s out there 6, 12, maybe 24 months away. If my students or clients have the right tools, money, and credit lines, they are going to be able to explode in the opportunities that are going to be in front of them. My devotion or my why has shifted because my why is an empowered borrower lender relationship. I’m getting FICO invitations to virtual seminars where the courses are about how lenders are nurturing their borrowers and what they’re doing. I attend those and me and my team make our decisions on how to educate our audience on how to build those relationships. To know what the playbook is and how those lenders are making moves that you can meet them and become better partners with lenders even in the midst of this mess. The mess is going to get messier.

If you close the fundability bullseye, people will keep lending to you. Click To Tweet

I am not a doomsday guy, but I went through 2008. I went through the ‘86 recovering in 1991. I was there, I was an adult, I was not a child. It was so powerful and impactful. I was telling the people in my bootcamp about the story where I would walk into grocery stores in 1991 in Salt Lake City, Utah. There would be magazines that thick and it was called HUD Homes, Housing and Urban Development, $500 was all you had to do to put down and take over these properties. Some of them were dilapidated. All you could do is clear the lot and rebuild it, but $500 and depending on the situation, HUD was carrying the paper. It was insane. It was the goldmine.

Here I am once again. I’ve already helped my clients in 2008 not just weather the storm, but get ready for what we’ve had as the ten-year explosion in appreciation from all of the losses that we had as a result of the mortgage crisis in 2008. Here we are and it’s going to be bigger and are you ready? The whole point of revisiting this subject is my why has changed. I want time, money, and freedom to spend with my family, but I have that. I can go anytime and anywhere with my family, loved ones, and do the things that I love doing. You have to know this by now. My passion, my love, my drive until my dying day is to reveal the secrets or the insider information that allows us to prosper, and lenders make money when they lend. The bullets or the scatter chart is narrowing. If you’re dialed in, if you’re on a fundability target, if you’re in close to that bullseye, they’re going to keep lending to you and for the next six months and through the next six years.

Back to the cruise ship. I’m watching all these people have the luxury of all coming together on a cruise ship and enjoying the Caribbean sun. We had a blast on that trip. What do you not get to do now that was part of your why then? Some families are prohibited, the family reunions are limited, much less family get-togethers. How is your why? If you’ve reached that pinnacle place in your life cycle, in your success pyramid, which things are you not able to do now? The LDS Church is huge in Utah. As this pandemic began to grow, they brought home thousands of missionaries that were spread throughout the world. That’s part of their why. That’s part of the bucket list for those young men or women who wanted to serve missions. How many Peace Corps people? How many volunteers and missionaries from every faith have had to come home? What is your why now? What does time, money and freedom buy you now? Uber Eats. You get to order anything you want to come to your home. What opportunities are available for you to expand your why now?

AYF 88 | Hope In Financial Crisis

Hope In Financial Crisis: Maslow’s Hierarchy of Needs starts at the things we need for survival and goes up to fulfilling our dreams and goals.

 

In my bootcamp, I introduced the success pyramid. It’s based on Maslow’s hierarchy of needs, but it’s not the hierarchy of needs as Maslow explained it, but how each level of this pyramid builds towards the fulfillment of your why. If you haven’t done it, go to GetFundableBootcamp.com. I created it as a response to help us make this decision. It starts out at survival, food, shelter, taking care of our families. It goes to our dreams and our goals. How do we get out above and beyond? How do we stop trading dollars for money and move into wealth vehicles that allow us to leverage our time and our money?

From wealth vehicles, what education and tools do we gain as we learn what the different wealth vehicles are? How to implement them into our lives? How do we build relationships? Our relationships and our reputation give us the opportunities to establish a firm why. Some of us have whys that sustains us and some of us have had to back down and keep sustaining our why. That’s my question for you and for me. I pose this question to myself. What do I get to do now differently so that I can stay on my mission so that the vision of my life and this educational company stays true to helping borrowers and lenders make a crapload of money together, especially and including during this time?

What’s funny is I’m looking out and I have a beautiful view over the Salt Lake Valley. I’m probably 1,000 feet or 2,000 feet above the valley floor. When I point over there, I’m looking at the hordes of the city. That’s where my message is. I can point to you. You are where my message is designed to go. One of the things that you get to ask yourself is everybody’s talking about pivoting, but some of you might be in a good position. What do you need to do to keep your why alive and well? Some of you may have to sustain your why some more. What are you going to do to take advantage of this situation? I talk about all the time the slingshot effect. You’re going to hear every single day in the show. That slingshot effect, that dynamic tension, when we pull back, the release of it, our velocity, our distance, our ability to affect positive change in the world. Our ability to execute on amazing opportunities that only come once every 10, 25 years.

There are great opportunities to buy real estate in the middle of a crisis Click To Tweet

People say that this one is like, “Imagine buying homes and real estate in the middle of the depression. Imagine the empire, opportunity, picking up new franchise opportunities or growing your influence in your communities, or expanding into different cities and states because you’re capitalized and positioned. You’ve got your head in the right place, you’ve got your heart in the right place, and you’ve got the resources, the money to be able to execute on building and sustaining your vision for your life and your empires.”

Get it together. I always want to notice the ironies of things. Jessica and her husband went to an art auction. They were willing to finance and they were offering financing for the art auction. She was number 103 and they bid on some art. They won and it was awesome. When they went, they said, “Let’s check out the financing.” It was the Synchrony Bank. We got Wi-Fi as part of our service. She immediately texted me for wherever I was, probably at the food line or at the ice cream machine. She sends me a text showing Synchrony Bank was the one carrying the paper. It’s who the cruise line chose to carry the paper for these art auction pieces. That’s a tier-four predatory and horrible subprime lender.

We had to pass that word on. You’re going to run into it everywhere you go. If you know the rules of this game, you can win the game. She put it on a credit card, which she paid off later. She checked it out and was filling out the application. As soon as she saw the application, she’s like, “No dice.” No matter where we are in the world, knowing what you know, knowing what the bootcamp teaches, knowing what the book, GetFundableBook.com is where you can get The New F*Word. Make sure that you have the tools so that when you’re buying art on a cruise because you’re experiencing your time and money freedom when that comes back, you know not to engage a credit card or a credit line from Synchrony Bank. You’re going to get a big fat negative indicator from FICO that will broadcast that you’re a rookie borrower to every future lender that comes down after them.

I had to put that in as a little chaser because while this is a philosophical treaty on pivoting to make sure you keep implementing the tasks and strategies you need to realize your why, no matter where you are in the world. All the examples that I shared with you, your why is, or very well may change significantly. Update it. Get in touch with your heart space and strategy space so that your why stays pointed and focused. To the degree, you’re why is dialed. The fulfillment of every strategy and tactic necessary to make it happen is much more dialed. I adore you. Keep bingeing. Go to GetFundablePodcast.com and binge this because I want you to stay up-to-date on everything that’s happening in the world of personal and business financing. You have a spectacular day. Godspeed and God bless.

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