Category: Mindset

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Reintroduction Post!

Time for a quick reintroduction post!

It has been a minute since I have given an update for all the new followers to the account. Here we go.

My name is Travis, I am 28 years old, and I am the man behind the account @theyoungretireeby33

I started this account a little over a year and a half ago for the original purpose of holding myself accountable and documenting my journey to reach financial independence.

My original content was focused around three things. Money. Mindset. Mission. I started following the financial independence community and it was amazing to see what everyone was doing and the information they were sharing to help others. I wanted to share my story and thought if I could help at least one person then it would be worth my time.

It has been a long journey since the beginning. I have gone from my first ever home purchase (house hack of course) to now owning a profitable short term rental business that is on track to do roughly $250k in gross revenue this year.

What is my mission? To reach financial independence so I can spend my time doing what I want to do, when I want to do it, and with whomever.

How do I plan to hit financial independence? Real estate and stock investment (dollar cost averaging). For real estate, mainly short term rentals and house hacking.

How close am I to financial independence? I could technically quit my W2 today if I wanted to, but it is the main thing fueling the fire to continue purchasing more real estate.

In my free time I am an avid golfer and love to travel. I love looking at problems and figuring out how to solve them with the least amount of effort. Part of my industrial engineering background by trade I guess.

Welcome to my page and I look forward to doing my best to add value for you!

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Saying Something Negative Is 40-70 Times As Powerful As Saying Nothing

That is right. Saying something negative is 40-70x more powerful as saying nothing. Simply stating something out loud is 10x more powerful than thinking it. I recently listened to an amazing Impact Theory interview of Mindset Expert Trevor Moawad. Here is the full interview, I highly recommend taking a listen to it. Put the TV down for 30 minutes and watch this instead. You will learn and gain so much incredible wisdom from this individual.

 

Key Takeaways:

  • If you have a positive thought or something you are thinking, say it out loud so it is 10x more powerful than internalizing in your mind. I think this is a reason why affirmations are so powerful. 
  • It is better to internalize a negative thought than externalize it. Period. When you speak a negative thought, it amplifies the possibility of it occurring. 
  • Trevor isn’t saying fake positivity in this podcast interview. He says be real with yourself, but the main thing is to not externalize negative emotions. 

Don’t forget @TheYoungRetireeBy33’s 3 Core Principles:

1 – Your money should make money for you⠀⠀⠀⠀⠀⠀⠀⠀⠀
2 – Start early to realize the power of compound interest⠀⠀⠀⠀⠀⠀⠀⠀⠀
3 – Eliminate your largest expense by house hacking

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Disney World Closed – Impact To Short Term Rentals

New’s came out late yesterday stating Disney World is set to close on 3/15 at close of business. What we are seeing in the world today is something that is unprecedented. At least I think so which makes for a timely post of this nature. There will be a significant impact to short term rentals in the coming weeks with no end in sight. This leads me to want to touch on and continue to remind myself. Here is something that recently came out about Disney World closing that is completely outside of my control, link.

What You Control

You have two choices in life, focus on what you control or what you don’t control.

The Power Of Your Thoughts

You have a choice in life. You can sit and dwell on things you have zero control over, or you can acknowledge the things outside of your control and put your focus to controllables. It sounds so simple, yet we as humans love to sit and think about the things that are outside of our control. Want a great example of how I am using this thought in my current situation? Here we go.

How The Economy Shake Up Is Impacting Short Term Rentals

Disney World and Universal announced late yesterday that they would be shutting down their parks beginning on 3/15 at close of business. They are currently projecting to remain closed until the end of March. I don’t believe there are any plans after that at this time until things settle in.

I recently closed on my fourth property in the Orlando area. I use three of them for short term rentals and one for long term renting. The main reason for buying where I bought was for renting out to people who are coming to visit Disney and Universal!

With everything going on and both Disney and Universal shutting down, there is going to be a ripple effect to short term rental owners.

Here is the thing. I have 0 control over Disney or Universal shutting down. I have 0 control over the virus spreading. I have 0 control over guests canceling their trip to Orlando. 

So what do I plan on doing? I plan on letting any guest who reaches out to cancel to cancel. Safety is always first. If my calendar goes unfilled for two months, that is part of why it is called investing!

How I Am Cash Flowing Things

I am not worried about this situation. I have enough cash to handle mortgage payments for a while. I am also receiving my bonus from work in the next few days. There is no reason to worry! This is part of the process. You have to be ready and prepared for no income coming in. You must be prepared and ready to take a hit in the mouth for things that are outside of your control.

This is what makes investing fun! You must learn to roll with the punches and rock and roll!

Key Takeaways:

  • Focus on the things that are within your control. 
  • Don’t dwell on the things that are outside of you control. 
  • Always have a plan to be able to pay for your investments in case of a worst case scenario. 

Don’t forget @TheYoungRetireeBy33’s 3 Core Principles:

1 – Your money should make money for you⠀⠀⠀⠀⠀⠀⠀⠀⠀
2 – Start early to realize the power of compound interest⠀⠀⠀⠀⠀⠀⠀⠀⠀
3 – Eliminate your largest expense by house hacking