Mindset, Habits, Network: QUIZ

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Question 1 of 27

1. Question
What are some “common thoughts” people have about real estate investing to discourage others from investing? (Select all that apply)
- Only rich people invest in real estate
- Prices are too high to invest right now
- It's pretty easy and simple to do
- You should not invest because the market may crash
- If you don't have all the money, it's impossible
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Question 2 of 27

2. Question
What are some “champion thoughts” budding investors can adopt to help their mindset? (select all that apply)
- I'm not sure how all of this works, but other people learned to do it and so can I
- I'm going to be a millionaire in 6 months by thinking positive thoughts
- I can't predict the market, but I need to buy at a discount and make sure it's a good deal
- I'll find the time in my schedule because my future is important
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Question 3 of 27

3. Question
What are some “common thoughts” people may have around their own relationship to money?
- I always have to work hard and give up my life to earn lots of money
- I didn't grow up with money so why should I have it now
- Earning a lot of money seems like it's for smarter, more well-connected people, not someone like me
- All of the above
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Question 4 of 27

4. Question
What are some “champion thoughts” we can adopt as investors about our relationship to money? (select all that apply)
- Even though I didn't grow up with money, I can be the one to change my family tree
- My value add can come in a lot of ways, not always just trading my personal time or labor for money
- I deserve to be a millionaire just by being here. I shouldn't have to work or add value for it.
- I may not know how it all works, but success leaves clues and I see people from all backgrounds doing well in REI
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Question 5 of 27

5. Question
What do we do to start thinking differently from “common thoughts” to “champion thoughts”?
- Take notice of those thoughts, fight them for being there, force ourselves to work harder, ask why it's so hard to get ahead, keep thinking the same thoughts until we're rich
- Never pay attention to our thoughts, run on autopilot, accept our lot in life, realize we have no control of our future, let whatever happens happen
- Take notice of those thoughts, accept their presence, question if its in line with your future, ask a better question, introduce the better thought
- Take notice of those thoughts, think positively, work harder, but if it doesn't work out soon, go back to our old thoughts because those were right all along
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Question 6 of 27

6. Question
What’s an example of asking a better question? (select all that apply)
- Why should I change? I don't need to be any different to get something different.
- HOW would I go about doing this?
- WHO do I know that could teach me this?
- Is this thought actually true?
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Question 7 of 27

7. Question
What are things we can control?
- Our thoughts, who we hang around, our habits, our boundaries
- Our thoughts, the economy, other people, the real estate market
- Our thoughts, other people thoughts, how motivated people are, a homes value
- We have no control over anything, it's best to live day by day and see what happens
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Question 8 of 27

8. Question
Creating a new mindset and personal growth:
- Needs to happen in 6 months or its a lost cause
- Should happen without any effort on my part
- Is a lifelong journey with plenty of opportunities
- Isn't my responsibility; everyone should change to fit my needs
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Question 9 of 27

9. Question
Are there any “common thoughts” you notice you may have? Where do you think that came from? It is still true for you now? What is a more empowering thought? (write your answers below)
- This response will be awarded full points automatically, but it will be reviewed and possibly adjusted after submission.
Grading can be reviewed and adjusted.

Grading can be reviewed and adjusted.
Question 10 of 27

10. Question
When it comes to motivation:
- You should always be motivated and pumped up every day
- Nobody is always motivated, so we create habits and systems
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Question 11 of 27

11. Question
Which is more important for progress?
- Being persistent and consistent with imperfect action
- Making sure I don't take action until it's perfect
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Question 12 of 27

12. Question
With making offers:
- I should only make offers if I think they'll get accepted
- I should only make offers when I think the owners won't be insulted
- I should make offers to any good prospects because the majority of them will get rejected anyway
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Question 13 of 27

13. Question
TRUE OR FALSE: If I am a new investor, I don’t have to think ahead about systems
- TRUE – I can save a lot of time and money by doing it all myself and documenting takes too long anyway
- FALSE – If I am going to be most productive, eventually I will need to delegate, so I should document tasks along the way
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Question 14 of 27

14. Question
What are 3 examples of “rich habits”?
- Thinking in terms of systems, habits and people
- Understanding costs but focusing on income
- Tracking numbers
- Living day to day without real direction because life is short
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Question 15 of 27

15. Question
OPEN ANSWER: What is a positive reinforcement you can add into a habit you want to adopt? (like making offers)
- This response will be awarded full points automatically, but it will be reviewed and possibly adjusted after submission.
Grading can be reviewed and adjusted.

Grading can be reviewed and adjusted.
Question 16 of 27

16. Question
TRUE OR FALSE: Only large high volume investors can have a rock star team
- TRUE – You can't really build a team until you hire a lot of people
- FALSE – Even solopreneurs can and do create rockstar teams by aligning with the right vendors and associates
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Question 17 of 27

17. Question
Real estate agents on your team:
- Should be investor friendly and motivated
- Should be able to help you comp deals
- Should be able to help you showcase your flip and get you to closing successfully
- All of the above
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Question 18 of 27

18. Question
Which is NOT TRUE about Title Agents on your team?
- Should be experienced with investors
- Can help you navigate title issues
- Can tell you when to sue a homeowner
- Can help you understand Settlement Statements
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Question 19 of 27

19. Question
TRUE OR FALSE: Investor friendly insurance agents aren’t important as part of your team; insurance is insurance
- TRUE – Any insurance agent will do, you just need to have some sort of coverage
- FALSE – You need to have an investor friendly agent who can help protect your project with the best policies for flips
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Question 20 of 27

20. Question
Lenders on your team can:
- Be a second pair of eyes for your potential deals
- Help you expand your business
- Offer you different programs depending on your deal
- All of the above
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Question 21 of 27

21. Question
Which statement is FALSE about contractors on your team?
- Once you have a good one, you don't need to keep looking or get any more bids
- Can make your flip business easier
- Need to be paid on time and communicated with clearly
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Question 22 of 27

22. Question
When it comes to using software or services for your marketing:
- Aren't necessary because it's cheaper to do everything yourself
- Can be a critical addition to your business so you're always farming for leads
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Question 23 of 27

23. Question
Which is TRUE about a bookkeeper and CPA for your power network?
- They aren't really necessary if you keep good receipts
- Needs to have experience with investors and especially fix and flips
- Are a waste of money if you can do it yourself
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Question 24 of 27

24. Question
When it comes to masterminds, meetups and mentors, which are true? (select all that apply)
- Can be a good investment to cut down on your learning curve
- Should be used intentionally
- Aren't important because the internet is free
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Question 25 of 27

25. Question
When considering hiring a real estate assistant as part of your team, which is FALSE?
- Is an investment to support your growth when the time is right
- Can be out of the country and handle administrative and repetitive tasks for you
- They need to be local, highly experienced and full time
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Question 26 of 27

26. Question
Networking/Connecting with people in your industry is important because:
- You are part of someone else's power network, too
- People like to do business with people they like and see often
- You could be one connection away from your next deal, partner or piece of education you needed
- All of the above
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Question 27 of 27

27. Question
What are some of the most important skills you can work on as a new investor?
- Learning construction inside and out
- Learning contract law and contingencies
- Learning to improve your people and communication skills
- Learning to create the perfect piece of marketing
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