New Investors: 2025 Will Suck Again For You... | Flipping Mastery Show
Wholesale Hotline | Brent Daniels
Wholesale Hotline
4.9 • 586 Ratings
🗓️ 12 January 2025
⏱️ 11 minutes
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Summary
Today on the Wholesale Hotline Podcast (Flipping Mastery Edition), Jerry Norton discusses why 2025 may be another horrible year for you -- it's importance to get the foundational elements in order before diving into real estate or business investing!
Show notes -- in this episode we'll cover:
- Jerry identifies five prerequisites before getting into real estate: fixing your credit score, paying off consumer debt, creating a cash reserve, learning basic accounting and finance, and improving your financial mindset.
- He stresses the value of a credit score above 680, avoiding high-interest consumer debt, and maintaining a six-month cash reserve to prepare for business success.
- Jerry highlights the necessity of understanding financial statements and developing a strong money mindset to overcome limiting beliefs and set a high financial thermostat.
- The importance of defining a "big why" is underscored as the driving force to maintain discipline and resilience in pursuing financial freedom.
- He concludes with advice to take action in 2025, supported by a free goal-setting workbook to help users outline their vision and actionable steps for achieving their dreams.
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☎️ Welcome to Wholesale Hotline & Flipping Mastery Breakout! ☎️
Jerry Norton went from digging holes for minimum wage in his mid 20's to becoming a millionaire by the age of 30. Today he's the nation's leading expert on flipping houses and has taught thousands of people how to live their dream lifestyle through real estate.
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Transcript
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| 0:00.0 | Hey, it's Jerry Norton. Welcome to the Wholesale Hotline podcast and the Flipping Mastery Breakout. |
| 0:08.0 | We want to know how we're doing, so please leave a comment and give us a rating. |
| 0:16.0 | After working with thousands of new investors, I've noticed over the years that the reason |
| 0:23.2 | why most people that fail in real estate has nothing to do with real estate. |
| 0:29.3 | They're actually set up to fail before they even start. |
| 0:32.6 | You see, in order to successfully start a business or start investing, there are some prerequisites you need to achieve |
| 0:38.9 | first. My kids and I like to snowboard, and this year I took kid number six for the first time. |
| 0:44.5 | Now, if you've ever been, the ski slopes are marked with colors to indicate their level of difficulty |
| 0:49.4 | with green being the easiest and black being the most difficult. Now, as a new snowboarder, I didn't take my son first to the black diamond slope and push him down the hill. |
| 1:00.5 | That would be a disaster. I didn't even take him to the beginner green level. |
| 1:05.0 | I made that mistake with kid number four on her first time boarding. I took her down the green hill. |
| 1:09.9 | She ran right off the side and |
| 1:11.6 | got stuck in about four feet of snow. She was so discouraged as she took off her board, walked all |
| 1:17.0 | the way to the bottom of the hill and sat in the lodge the rest of the day refusing to try again. |
| 1:22.4 | Learning from that mistake this year when I took kid number six, I started him on the kitty hill |
| 1:27.0 | and began teaching him the basics, |
| 1:29.6 | how to balance, how to cut from left to right, and how to stop. Not until he understands and can |
| 1:34.9 | perform the basic fundamentals, is he ready for the beginner green level? Now business and real |
| 1:40.4 | estate investing are no different. And I believe there are five fundamentals or prerequisites |
| 1:45.4 | that you need to do before you're ready for the investing slopes. Now, if you first put your |
| 1:50.8 | energy and effort into these five prerequisites, you will have a solid foundation and be set up well |
| 1:56.4 | to succeed in real estate and become financially free. Pre-requisite number one is to fix your credit score. |
... |
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