Cody argues procrastination costs millions over a lifetime. He shows how buying a duplex that cash-flows $400-$500 monthly, repeated every two years, builds to thousands in passive income after ten years. Start with one asset or skill: you cannot multiply zero.
Chapters
Hey guys, what's going on? This is Cody, and in today's video I am in the Blackwell Mansion. I want to chat about why it will cost you millions of dollars and how it's going to cost you millions of dollars over the course of your life if you don't start investing today. Now, investing is not just with money, because most of the time, if you're anything like myself, a year ago I had no money. I had $3,000 in a checking account, and since then I've been able to grow relatively quickly. And all of it comes down to a couple small things that I've been able to learn over the past couple years. One of the things I keep in my mind from Chris Hogan— if you're not familiar, he is on the Dave Ramsey TV show— is that someday is not on the calendar. Meaning if you want to do something, you need to make it happen today. We've got to start putting the pieces in place to get the ball rolling down the hill. Now, that's not just investing into deals, because in the beginning you don't have money typically to invest into deals. What you can do, however, is invest into yourself, because it's better to be prepared and not have an opportunity than have an opportunity and not be prepared. Because when you look back on it, you're gonna kick yourself for not training sooner, which is why it's so important to start today. Start researching not even just individuals, But research the organizations, the businesses that you're trying to emulate. If you're in real estate and you're trying to grow, who do you need to be looking at? And this is a question you gotta ask: who do I need to meet to get to the next level? And start doing whatever it takes to get in front of those people so that you can get to that level with time. It's gonna take time, but it's gonna take time either way. You know you're gonna do it at one point in the future. Now the real question is, do you want to get it done now? Or do you want to do it at some point in the future? And for most people, they want to do it now. So start the clock, start investing into yourself so that you are prepared when you find these opportunities. Now, I read a lot of books. I do a lot of online webinars. I do some training with some folks. I've got a few of the books on my desk right now. Got The 10X Rule. This got me started. If we're just looking over here, got Be Obsessed or Be Average by Grant Cardone as well. And then we've got Dave Ramsey's Total Money Makeover. These are books that I keep on my desk because it's important to be training and getting new knowledge in every single day. Just read 10 to 15 to 20 pages a day. Invest into yourself so that when you see the opportunity, you can jump. You don't look back on it and say, oh, I wish I could have done that. Because if you pile small successes over long periods of time, just like compound interest being the 8th wonder of the world, you're going to be able to scale. Maybe you start with a duplex that cash flows $400 to $500 a month. You do that once every 2 years, and in 10 years, you're gonna be making a couple thousand dollars a month in passive income. Your tenants are really nice people who pay down your loan. One day in the future, you and your family are gonna have no liability, no debt. You're gonna get some depreciation benefits for your tax bill. And the properties typically, if you're buying in decent areas, are gonna go up in value. So it's a win-win. But it all starts with 1. You can't multiply 0 effectively. So at least get to 1 or get to 2 and then start trying to multiply that over long periods of time. With that said, that's why it's so important to get started. You cannot multiply 0. Math always wins. But you got to get started to make this happen. Someday is not on the calendar. So make it today and get started.
