$60,000 in one day seems outrageous, and in many ways, it is. No one really earns that much money in one day of work, and Jeff Bezos doesn't have $100 billion. What is common though is seeing someone who puts in a great amount of work with very little payoff over many months and years one day hit a huge payday. Some examples of this are high-paying careers like being a physician or lawyer. A physician can earn $20,000 every month, but the amount of work required to earn that $20,000 is far greater than just 1 month. It requires many years or rigorous work and dedication and possibly a large amount of student loan debt in order to get to the point where someone is willing to pay you $20,000 a month. The same is true in many businesses.
Signing a new client in a single day can increase your annual income by $50,000, but it might take you many months or years to build your product, market it, and actually sign that first client. This was the case for me as well. I was able to identify and purchase a property for $290,000, when its actual market value is at least $350,000. On top of that, I had the opportunity to expand my rental portfolio by moving into the new condo and renting out my old one. While I was able to make $60,000 in a single day by purchasing a property that was greatly undervalued, I had been researching properties in the neighborhood for just over 2 years so that I could identify great deals and act quickly when one came about. In my case, I won't be handed $60,000 cash anytime soon, but I actually received $60,000 in instant equity in my new home.
I'm perfectly fine with the instant equity, because it aligns with my long-term goals, and I plan on owning my few properties for at least the next 20 years or so, while cashing out the equity to continue investing in other properties and projects. The biggest takeaway is to make sure you're aligning your actions with your long-term goals. Set actionable steps you can take this month to get you closer to those goals and remain patient and diligent. Change takes time, and no one really makes $60,000 in one day, but with a well defined goal, and persistent action towards that goal, you can make large strides in short amounts of time, if you're ready to take action when opportunities arise. The most successful people in the world aren't the smartest and they don't work the hardest. What they do have is a great sense of patience, and the willingness to take persistent action each and every day.
Signing a new client in a single day can increase your annual income by $50,000, but it might take you many months or years to build your product, market it, and actually sign that first client. This was the case for me as well. I was able to identify and purchase a property for $290,000, when its actual market value is at least $350,000. On top of that, I had the opportunity to expand my rental portfolio by moving into the new condo and renting out my old one. While I was able to make $60,000 in a single day by purchasing a property that was greatly undervalued, I had been researching properties in the neighborhood for just over 2 years so that I could identify great deals and act quickly when one came about. In my case, I won't be handed $60,000 cash anytime soon, but I actually received $60,000 in instant equity in my new home.
I'm perfectly fine with the instant equity, because it aligns with my long-term goals, and I plan on owning my few properties for at least the next 20 years or so, while cashing out the equity to continue investing in other properties and projects. The biggest takeaway is to make sure you're aligning your actions with your long-term goals. Set actionable steps you can take this month to get you closer to those goals and remain patient and diligent. Change takes time, and no one really makes $60,000 in one day, but with a well defined goal, and persistent action towards that goal, you can make large strides in short amounts of time, if you're ready to take action when opportunities arise. The most successful people in the world aren't the smartest and they don't work the hardest. What they do have is a great sense of patience, and the willingness to take persistent action each and every day.
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