Doing ordinary things consistently will produce extraordinary results. Although we all get bored doing ordinary things over and over and over but that's exactly what gets you results. It's like compound interest where you just keep capitalizing on what you did the day prior. It is so true in investing, we’ve seen it over and over again.
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Inside the book Great by Choice by Jim Collins, he talks about the story of two explorers who are racing to the South Pole in 1911, over 100 years ago. One team went as far as they could only on the good days, and then hunkered down on the bad days. The other team relied on consistent progress traveling 15 to 20 miles every day, regardless of if it was a good day or bad day. The first team didn't make it to the South Pole, nor did they make it back alive. Thanks to consistency, the second team reached their goal and lived to tell the tale.
Since COVID-19 started, the market has been strange and volatile. Inflation is at its highest since early 1980s. Real estate prices have increased at a rate that exceeds the pre 2008 crash. There's a massive housing crisis, various supply shortages, rising interest rates, an inverted yield curve and an economic growth during the first quarter of 2022. When the reality is you should not let that affect you, good and bad times. Just keep on doing what you're doing and stay consistent on the path.
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Hey everybody! Flip and Dani here, Founders of the Freedom Real Estate Group Family of Companies. Welcome to another episode of our podcast which is called Freedom Through Passive Income. That’s right.
And this episode is entitled The 20 Mile March. Yeah, I like this story. And so this is, so you have the book called Great by Choice from Jim Collins. Yep. And inside this book, he talks about the importance of a consistent approach and both good and bad times. Yeah.
We thought it was really relevant to talk about this because a lot of people are uncertain right now with the market and everything and being post COVID. And what's going to happen and housing prices rising so fast, labor shortages and supply shortages and stuff like that. I thought, hey, this is a really great episode.
Yeah. And well, inside the book, he talks, he does a story. But there's two explorers that are racing to the South Pole. And this was back in 1911, over 100 years ago. Yeah, crazy. Yeah. Anyways, so one team went as far as he could on only on the good days, and then hunker down on the bad days. And then the other team relied on a consistent progress traveling 15 to 20 miles every day, regardless of his good or bad day. Yep. Well, the first team not only didn't make it to the South Pole, they didn't make it back alive. Yeah. That's pretty crazy. Yeah. The other team did, by the way. Yeah. But it's funny, too. This is also something it's, and this is something that I've learned as well, many years ago, when I wanted to start getting more active. And because I was just, I would wake up, walk to my desk and sit down, right, and then eight hours, they get up and walk to the couch and sit down. So it was the never stop moving. Yes. Just I'm always trying to do something. So that way, I'm always active. I got an Apple watch. And now I've got this little fitness thing on here. And so I'm doing that every day and making sure I'm standing here, standing to crack you up and me I'm going to stand. Why he cracks me up, because sometimes it gives me my stand goal when I'm sitting. Like, that's a bonus stand.
That didn't work. Yeah, yeah. So there's a quote that I really liked that I wrote in here, and it's doing ordinary things consistently will produce extraordinary results. And I know that we all get bored doing ordinary things over and over and over. But that's exactly what gets you. It's the like compound interest, right? You just keep capitalizing on what you did the day prior muscle building, anything that you do in life investing, and it's so true. And I'm somebody who thrives in chaos. And so it's very hard to do something that's boring, consistently. But I've seen the power of similar moves every single day, and what that does. So I think that it's something that applies to our lives, whether it's health, career, family, and investing. And so that's something, too I read an article the other day, I'm just going to read it to you. It said, after COVID-19 started, the market has been strange and volatile. Inflation is at its highest since early 1980s. Real estate prices have increased at a rate that exceeds the pre 2008 crash. There's a massive housing crisis, various supply shortages, rising interest rates, an inverted yield curve and an economic growth during the first quarter of 2022. That was negative, and reading all that, all of a sudden, you're like doom and gloom, the sky is falling. When the reality is, he even goes on to say, don't let that affect you good and bad times. Just keep on doing what you're doing and stay consistent on the path. And when he said that, I was like, that reminds me of the story of the 20 Mile March. And so I said, let's just do that as an episode. Because I think it's important for people to understand that is it the turtle and the hare? Is that story, like related to this does a turtle like, are they occasionally the turtle never stops and the rabbit will run, run, run, run, stop take a nap. Yeah, so it is. It's very parallel to that story as well. You need to watch more Bugs Bunny. By just thought of and we were talking about this, but this isn't the time and this is what most people to do is they sit on the sidelines and they wait, and they just wait and see. And even in this article, he was saying that I know people from 2014 that were, I'm just going to wait. I'm going to wait and they're still waiting. And he even said, I thought there was going to be a shift in 2018. And it didn't happen. He said had I sat on the sidelines, I wouldn't have bought the properties that I did and gained. Yep. And had I sat in the sidelines I would have not sold the properties that I did. And he goes honestly I regret selling them because I thought the shift was going to happen there. But again, I didn't sit, I kept them going, and I'm better for it by continuing the progress and doing those ordinary things. So I thought it was really impactful to hear the story because we see it in history all the time that if you're consistent, you win. The lack of consistency, and the emotional ins and outs, you lose every single time, but people still get emotional, and they won't just sit back and just let things play out. And or just, be patient and continue to invest.
Yeah, and I'm always thinking to the sort of relates to this with the good and bad, like, the good days and bad days, or whatever the good times and the bad times, whatever. It reminds me of the Chinese proverb, and I heard this a long time ago from a friend of mine. I had been working all summer for an audition, and the audition came and it went horrible, and I didn't get the job. And I was crushed, absolutely crushed. It was just doom and gloom. I will say no, just absolutely crushed and the buddy of mine that was with me, he said, you can never tell good from bad. Yeah. And it was the Chinese proverb, which I didn't know, it was a Chinese proverb at the time, I thought, man, this guy is wicked smart. And so he couldn't tell a good for bad at that point in my life. I thought that was the worst thing that could have possibly happened to me. But it wasn't, it was the best thing that happened to me, because like six months later, I was on a cruise ship. And then, like eight months to 12 months later, I met Dani so I think that worked out pretty good for me. Um, so that definitely worked out. So but you can never tell good from bad. Yeah.
So I think it's important that you just find the people and type of investments that you're comfortable with. And you just align yourself with that circle. We're always talking about the people that we surround ourselves and how important that is to our success in our journey in investing. And I think that just a message that just rings true all the time. Because people like us, we are watching what's going on, we're paying attention. There could be a recession coming. We don't know, we record this, we're sitting in the middle of quarter two. So GDP results haven't come out. But they've predicted positive, and a recession is two quarters of negative so it doesn't look like it doesn't look bad based on their predictions, and they're going but with everybody's uncertainty and their emotional reactions, who knows what's ultimately going to happen. But even if we do go into recession, Flip and I know exactly what we're going to be doing and how we're shifting. And it's a podcast, we're going to be recording, actually recording it today. So I don't know, recession wealth creation. Watch that if you're watching, if you're listening to this, and you're curious, and you want to learn more, listen to the podcast we record about recession wealth creation, because we know what we're going to do. And you want to surround yourselves with people like that so that you can stay consistent and do the ordinary things every single day. So that as they build up, they will produce the extraordinary results that you want.
Plus Phil saw his shadow so there you have it. So I hope you enjoyed this episode, make sure you head on over to our website, www.FreedomCapitalInvestments.com do join our Investor Club.
But also make sure you're heading over to Facebook and LinkedIn and all those social medias and hanging out with the team there. But make sure you hit the like button if you're not driving hit the like button you're hitting like button if I'm let's see, because if you like consistency in doing ordinary things every single day to produce extraordinary results. There you go. So hit that like button.
But we liked to end all of our episodes with Invest Smart. Live Happy. Bye everybody.
Disclaimer: Nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions and information on the show are not guaranteed. All investment strategies have the potential for profit or loss
Transcribed by https://otter.ai