First, let me say, failure is food, failure is data, redefine failure as a necessary means to an unstoppable journey towards success. If you notice yourself going into negative emotions over failure, that’s the real failure.
About three months ago, I embarked on a journey to learn about land investing, which involves purchasing land at wholesale prices and then selling it to motivated buyers just below retail value. But what exactly does "wholesale price" mean? It means reaching out through marketing efforts, such as cold calling or sending out postcards, to find someone who wants cash for their land. This could be someone who doesn't want to go through the hassle of hiring a realtor or who is in financial trouble and could use quick cash. Or perhaps they don't understand the value of their land and are willing to accept an offer that's below market value. In my experience it was a lot elderly people in assisted living.
After spending several months researching and making cold calls, I began to have moral objections to making offers on properties where the owner could potentially get a lot more than what I was offering. In sales, it's hard for me to move forward with an offer if I'm not 100% committed, and potential sellers pick up on my hesitation. Why would they want to work with someone who is unsure about their own offer?
My original plan was to use land investing as a way to fund my homestead. The whole idea behind Homestead Abundance is to create a business that can be done in 2 to 3 days a week to support your lifestyle so you don’t have to struggle in the business of your homestead. So I tried out different business models, including land investing. Long story short, I decided to pull out of the mentorship program that I was in. My mentor, Michael, was extremely knowledgeable, kind, and generous with his time. I learned a lot about how to value land, find buyers, and resell properties, even though I wasn't successful getting a deal done myself. But what I found most valuable was understanding the process of buying and selling real estate and how easy it is to take a property through title and escrow.
It was incredibly empowering for me to understand that information about who owns a property and its standing is generally public. By using tools like PropStream, I was able to access county records and find out all the information I needed to make an educated offer. Add in free sites like Zillow, Redfin, and Facebook Marketplace, and you could potentially make money in real estate very easily. There are a lot of people doing it.
However, I decided to go a different route. I took all the business and real estate knowledge that I had gained and decided to take a course on how to find investors who believe in my vision for a money-producing property. This is a pretty major turn for Homestead Abundance because the premise was that a person could start a passion-based business like writing a book (which is something that I am also doing). It's a fictional-based account of my life leaving the city and learning to farm while practicing Qi Gong and finding love in the process. It's an awesome ride, and I'm excited to bring it to you.
But the fact is, there are so many amazing people starting businesses, like microgreens, print artists, bloggers, and more. For me, I decided to just go after what I really wanted. I felt like I was dragging out the process by trying to start one business to create another. Kind of like this blog, it's a necessity in terms of building up a following so that people want to buy my course on how to create their ultimate homestead. But this idea also isn't necessarily my path. At this point, I feel I'd rather just start my homestead and then do more of a casual mentorship. If someone needs help in a certain area, I would be available for consultation. I was never really drawn to doing the ultimate guide or how-to on a homestead. It just doesn't fit my personality. I think there are plenty of people doing a good job at that.
While listening to The Tim Ferriss Show I came across Jim Collins, who introduced me to his Hedgehog Concept, as proposed by Jim Collins, is a theory for finding one's personal path to success. It involves identifying the intersection of an individual's talents, passions, and opportunities to create a roadmap for personal and professional development. The concept is based on the idea that by focusing on what Collins calls the "sweet spot" - the area where one's passions, skills, and opportunities intersect - individuals can develop a clear sense of purpose and direction. By answering three key questions - what are you deeply passionate about, what can you be the best in the world at, and what drives your economic engine - individuals can gain a deeper understanding of themselves and their potential, and chart a course towards a more fulfilling and successful life.
I may not be the best fit for creating a how-to guide on homesteading, I have discovered that my strengths lie in helping others with mindset and financial advice. I have learned so much about using money wisely, especially through the Infinite Banking system, and I believe that balancing business credit and personal finances can lead to efficient use of our resources.
In the pursuit of your passions and hobbies lies the potential for a fruitful and fulfilling business venture. Crafting a sound business plan and a master strategy is the key to transforming your dreams of a homestead into a tangible reality. I am no stranger to starting a business that supports the Homestead, and can attest to its potential for success. It is common to strive for perfection in the pursuit of an ideal situation, often leading to disappointment in oneself for failing to meet these unattainable standards. However, I implore you to focus on the actual goals you wish to achieve, rather than chasing a fictionalized notion of success. Establish clear metrics that will allow you to track progress towards your desired outcome.
In my own experience, I have yet to achieve my ideal scenario, as I have not yet moved to my Homestead. However, I have found a balance that allows me to prioritize my family and personal interests while still pursuing my passion for homesteading and building my business. By dedicating 2 to 4 days a week to work, I am able to spend quality time with loved ones while also making strides towards my goals. Every action I take is rooted in passion and the pursuit of enjoyment, whether it be spending time with my children or progressing my business. I am not content with simply working 2 to 3 days a week and relaxing the rest of the time; although I do appreciate a good glass of lemonade.
My passion is to help people overcome their limiting beliefs, change their money mindset, and become the best version of themselves by letting go of anything that is holding them back.
I also want to emphasize the importance of community and connection. This blog was always intended to bring people together and create a sense of community. So please, share your business ideas in the comments and let's support each other as we pursue our goals.
Finally, if you're in the Los Angeles area, I would love to meet some of you and even organize a public hike in the beautiful mountains near my ranch. As always, I hope you're enjoying the spring and that great things are happening in your lives.