Real estate and businessman Patrick Precourt joins Brian on the show today to talk about the powerful mindset behind creating habits in our businesses and daily lives. While Patrick is a real estate investor, he also runs a business that focuses on helping people make change. In today's episode, he talks about how we can start making decisions that will form into habits, and truly start the business of success.

 

Key Takeaways:

 

[1:05] Patrick is a husband and father and got involved in real estate back in the '90s. He started off with an accidental lease option and their business has moved into short sales. Today they specialize in high-risk, high-reward properties and also assisted living.

[3:20] In addition to real estate, he also owns a martial arts/lifestyle fitness center, that focuses on helping people create change.

[4:55] Change is one of our flaws as humans. Personal development isn't always about the quality of education; it's about what gets people to do what they need to do with that education as a catalyst for change.

[6:45] Consistent, predictable results come from the psychological aspect of education and real estate investing (or learning any new task). Context is what we do with the information, and the information itself is the content.

[10:05] We are creatures of habit, and tend to make a majority of our decisions out of habit. When we set a new goal, the process needs to start with who you have to become in order to get what you want.

[13:10] Patrick and Brian discuss the idea of our feelings affecting our actions, and how a triggered emotion can lead to decision-action-result.

[15:55] How do we go from awareness to action? Patrick breaks down two of four steps: 1. Figure out who you have to become. 2. Attach meaning to what you're trying to achieve.

[24:15] We have to change our habits in order to change our results. When something becomes a habit, it goes into our subconscious; oftentimes, once we learn something we lose focus before it becomes a habit. Once something becomes a habit, that's when we start the process of success.

[29:35] Patrick breaks down the remaining two steps to bridging awareness and action: 3. Stop letting how we feel determine what we do. 4. Re-establish belief in yourself and your abilities to execute.

[33:25] Multiple times a day, we set small goals for ourselves to accomplish tasks throughout the day. Don't set goals (large or small), that you aren't 100% committed to.

[36:25] Brian and Patrick talk about the different contexts of these "micro-goals." They all strive to re-establish trust in ourselves.

[39:05] Accountability is huge in this process. Accountability kicks in when our inner drive runs low; it's a necessity until our behavior becomes a habit.

[41:00] Though this episode has focused primarily on health and wellness, these same ideas apply for people in real estate investing. Patrick has some final advice: Get clear on what it is you're actually doing — the outcome of that will help you hone in on your purpose. If you start making good decisions today, it will be easier to make them tomorrow.

 

Mentioned in This Episode:

 

Meetings

Daily REIA Show

REI Facebook Page

Brian's Book

 

Find Patrick:

 

Patrick's Website