GET my NEW BOOK - The Millionaire Maker ~ 6 Practical Steps to Your First Four Homes!~

Show Notes:

The Backyard Millionaire Creed:

Promise yourself to invest wisely, honor your instincts, and persist until you win. This creed is your foundation for building wealth and success.

Living in America:

We discuss the vital importance of housing in your financial future and the inevitability of real estate as a cornerstone of wealth.

The Millionaire Maker – 6 Steps to Your First Four Homes:

1. Decide to take action.
2. Assemble a winning team.
3. Get prequalified for financing.
4. Learn the market inside out.
5. Master negotiation tactics.
6. Buy, hold, manage, and repeat—four times.

Five Things to Do Before You Sell:

1. Decide with certainty and plan for your profits.
2. Assemble the right team, starting with your realtor.
3. Conduct thorough due diligence.
4. Set a firm, strategic price.
5. Live as though your property is already on the market—every day counts.

Negotiation Mastery:

Learn the do’s and don’ts of high-level negotiations. From knowing when to walk away to ensuring mutual benefit, these strategies will help you seal the deal without losing your edge.

Weathering the Storm with Real Estate:

Discover the four-home formula—an everyman’s approach to building wealth and securing your community’s future. Remember, everything is negotiable, and with real estate, you can weather any market storm.

Alaskan Mind Bender, presented by AJ’s Old Town Steakhouse:

Question: How much did Walt Disney pay per acre for Disney World in Florida?

Text your answer to 299-7653 for a chance to win a night out at AJ’s!

Tune in to The Backyard Millionaire Radio and start building your financial future today!

This is my sister show: On Top of the World Radio - you'll love it!!

Show Notes:

Get my Thriller Novel: THE WATCHMANN - Set in Homer Alaska

• Promise Yourself:
• (The Optimist Creed)
• Cultivate inner strength to maintain peace of mind.
• Spread positivity by discussing health, happiness, and prosperity with everyone.
• See the best in people, and inspire them to recognize it within themselves.
• Focus on optimism, expecting the best in all situations.
• Celebrate the success of others with enthusiasm equal to your own.
• Embrace the future with a cheerful outlook, leaving past mistakes behind.
• Invest in self-improvement to avoid criticism of others.
• Be too big for worry, too noble for anger, and too strong for fear.
• Must-Watch: The Shift by Wayne Dyer
• Available free on YouTube. This film delivers a life-changing message. Listen to it repeatedly, letting it sink in.
• Book Recommendation: The Courage to Be Disliked
• Based on Alfred Adler's philosophy, this book explores positive psychology through a dialogue between a student and philosopher. Inspired by Adler's teachings, this is a must-read for personal growth.
• Believe in Possibilities:
• Can you conceive and believe in a better life? If so, you can achieve it. Reach beyond your current state, seeking contentment, peace, and joy.
• Word of the Day: Sapient
• Meaning wise, or attempting to appear wise. Used in science fiction to describe intelligent beings, it also relates to Homo sapiens.
• Local Spotlight: Captains Coffee
• For custom-roasted, fair-trade coffee, visit Captains Coffee in Homer, Alaska. Order online at CaptainsCoffee.com.
• Go Ask Adler:
• Explore Alfred Adler's philosophy, focusing on social interest, striving for superiority, and the holistic view of individuals. Adlerian psychology is foundational in modern positive psychology.
• Thought Provoking Quote:
• "You become what you think about." – Bob Proctor
• Are You Three Feet from Gold?:
• Don’t give up too soon—like R.U. Darby, who stopped just three feet from a gold vein. Sometimes, you just need the right guidance to keep digging.
• Presidential Quirk:
• Did you know Richard Nixon enjoyed cottage cheese with ketchup for breakfast? A peculiar choice, yet part of his daily routine.
• Ancient Fashion:
• The man bun traces back to warrior hairstyles in ancient China. Embrace it as a modern statement of bravery.
• Perspective on Paradise:
• Even in paradise, some feel stuck. Remember, your paradise is what you make of it. Don’t let perspective trap you—live in the present, learn from the past, and look forward to the future.

For more inspiration, visit ILoveHomerAlaska.com

Episode Date: August 1, 2024

Welcome to The Backyard Millionaire, where we believe in creating wealth right where you are with what you've got.

Tune in for insights and strategies to help you achieve financial freedom.

Segment: Living in America Explore the essence of the American dream and how it ties into building wealth locally.

Next Week: Join us as Ben Adams from 4T% Ranch discusses the challenges he's facing with property taxes in the Kenai Peninsula Borough and the urgent need for tax reform. It's time to take action—no more just talking!

Investors Don’t:

• Pull up the plant by the root to see if it’s growing
• React to mass panic or mass advice
• Focus on the next 12 months, but rather the next 12 years
• Quibble over the small stuff—remember the big picture
• Focus solely on price—terms matter most
• Run on wishes rather than results
• Skimp on counsel and good advice—pay experts for their expertise

Long-Term Thinking:

• Embrace the Chinese philosophy of planning for the next 100 years.
• Avoid short-term focus; aim for generational success.
• Measure and aim for increasing cash flow while maintaining value and ensuring appreciation.
• Never skip routine maintenance to safeguard long-term profits.

Creating Wealth in Your Backyard:

• Invest in real estate where you are with what you've got.
• This is not a get-rich-quick scheme but a pathway to secure financial freedom.
• Own and control four homes in your own backyard to retire a millionaire with consistent cash flow.
• Invest locally for secure and real returns.

Market Update:

• National home prices dropped 4.9%, with NYC down 2.6% and New Orleans a mere 0.9%.
• In Homer, Alaska, the average price is down 2%.
• Kenai Soldotna down 2%, while Anchorage is up 9%.

Ask Chris:

• Email your questions to ilovehomeralaska.com
• This week’s question: If you don't have enough money for a down payment, is it wise to take on a partner?
• Ensure both partners bring something valuable to the table, maintain balance, and have a clear partnership agreement.

Understanding As-Built Surveys:

• An as-built survey shows all above-ground improvements on your property.
• It's crucial for identifying any encroachments and may be required by banks, title companies, or buyers.
• Cost: $600 - $1,000.

Alaska Letters:

• Reflecting on the importance of this podcast - a Fictional Town in Alaska called HOPE... and their letters to the editor!

Closing Costs:

• Everything is negotiable in real estate.
• Customary splits of closing costs vary by region, but can be a strategic tool in competitive markets.

Tune in to gain valuable insights and take the next step towards becoming a Backyard Millionaire!