“The stuff that our mind will create is outrageous and it goes the same way when it comes to investing, to starting a business to doing that move that you’ve wanted to do forever... Do it! Fail, screw up, at least you’ll have a great story once you’re over it. And then the next time you try to do something else, the resistance will be a little less.” – Steve Martel 

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Selected links and people mentioned from this episode:

Craig Proctor

Rich Dad, Poor Dad: Cash Flow Board Game

Bob Proctor

Ray Dalio

TEDM Episode #117: Mark Moss

 

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[0:42] Patrick introduces his next TEDM guest, Steve Martel.

[01:51] Steve and Patrick take it away, getting caught up and getting to the heart of what Steve’s doing these days.

[05:17] Steve shares his philosophy and focus with real estate in Canada vs the US and provides the reasoning behind that.

[09:00] Just as from country to country the economic climates differ, Patrick and Steve discuss the sizeable variations from state to state in the US.

[12:55] A big question that requires a two-part answer! What makes Steve the fired-up, dynamo, entrepreneur that he is? Part I: where it comes from, the best gifts he’s been given, and the impactful moments in his life that informed the path he chose.

[21:42] Going back to 2006, Steve recounts the story of what got him interested in US real estate and then what absolutely fired him up to successfully launch in another direction from the US financial crisis.

[28:55] Buying and renovating properties from a distance was a fair bit trickier in 2010 than it is now, but it challenged Steve to come up with systems to achieve his intended outcome. That allowed him to broaden his scope and Steve started researching apartment complexes in the US. This opened up a whole new world for him and he fell in love with that investment strategy.

[32:52] Fast forward to 2018, the competition in the US apartment complex space went bonkers. Steve explains what that meant for him and how he turned into a new opportunity.

[37:11] Reflecting on his two major health issues, Steve imparts the simple truth – listen to your body; period. At 15 he didn’t have the awareness to ignore signs, he was living life to the fullest as a young man and a star athlete. Thankfully his friend’s mom took notice and likely saved his life. His parents, were the supports who wouldn’t allow him to feel sorry for himself, rather, feed the good wolf with positive thinking, reading, and to keep moving ahead.

[43:09] Conversely, his next health challenge, a heart attack in his twenties, definitely came with warning signs he chose to ignore.

[47:16] Patrick comments on what he’s come to know, as a coach and entrepreneur, about the fear of failure, and invites Steve to share his view. He explains how fear in general has become ingrained in our society and in our DNA.

[51:34] Steve tells a story about an experience with his young daughter to illustrate the power of fear and the stories we formulate in our minds which hold us back from having an experience, making a move, investing, starting a business. His guidance – do it!, fail, screw up, at least you’ll have a great story to tell at the end of the day.

[56:00] The mind barrier is so important to overcome. Steve talks about the two things he’s been studying for the last three years, including one thing he is very passionate about, plus his intention for capitalizing on the next downturn.

[59:10] Steve has a very clear and succinct outlook on the economic future.