Ep 268: How Mindfulness Is The Key Philosophy Towards Passive Income with Allen Lomax

Jaryd Krause:

What if investing success was not about how much money you invested or what you actually invested in or what you bought, whether it be real estate, buying a business, stocks, bonds, properties, commodity, whatever it is.

Hi, I'm Jaryd Krause. I'm the host of the Buying Online Businesses podcast. And today, I'm speaking with Dr. Allen Lomax, who began a real estate career as a part-time accidental investor doing fix and flips and holds for rental income strategies in real estate.

Now, shifting from accidental to intentional investor, Allen now creates opportunities that empower successful entrepreneurs to substantially increase their financial wellbeing through passive, hands-off real estate investments.

And Allen believes it's never too late to attain financial freedom and live abundantly. And I totally agree with that.

Now, in Allen's spare time, he passionately works with humans to help them understand their horses and develop excellent connections that create respectful and safe relationships between the horse and their humans.

And in his podcast episode, Allen and I talk about so many great things about investing in businesses, real estate, or your time and your money in any direction.

Now, we discuss the biggest obstacles that get in the way of people actually achieving passive income at any stage of their lives. It doesn't matter how old you are or what background you come from. We talk about the biggest obstacles that get in the way. And I have no doubt that you may have a couple.

We also talk about why people's fears are not actually false. And I talk about how they're actually real and they're in the body and people do feel these, what to do about them, and how to move forward in a more positive direction.

We also talk about how similar real estate is to buying businesses. I talk a little bit about property and investing in property as well.

Allen also shares a few stories about horses and how they've helped him become a better investor and a better mentor. And I also share some scuba diving stories about saving people from life changing mistakes.

We also talk about the power of a quiet mind and some strategies that can allow you to have a more quiet mind that allows you to invest everything that you put out into the world—your energy, your time, your money, and your effort in a far better way.

And there's so much value in this podcast episode. I'm sure you're going to love it, but this is not the only way that I can help people for free. We do talk about investing.

And if you're going to buy a business, do not go away and do it yourself. I have my Due Diligence Framework, which a lot of people use. It's helped people save millions of dollars and make millions of dollars.

And you can get it for free by going to buyingonlinebusinesses.com/freeresources. There'll be a link to that in the description. Now let's dive into the pod.

Do you have a website you might want to sell, either now or in the future? We have a hungry list of cashed up and trained up buyers that want to buy your content website.

If you have a site making over $300 per month and want to sell it, head to buyingonlinebusinesses.co/sellyourbusiness. Or email us at [email protected], because we will likely have a buyer. The details are in the description.

Allen, thank you so much for coming on the Buying Online Businesses podcast. Welcome.

Allen Lomax:

Well, thank you. I'm excited to be here and looking forward to a delightful chat.

Jaryd Krause:

Yeah, me too. I think we're going to have a great chat today around mindset. You're big on helping people earn passive income. Your vehicle of choice and how you help people is through real estate.

I'm very big into real estate. I'm actually buying another property at the moment, a commercial property in Australia. I love the property market.

I also have a property podcast too. I haven’t really released that to the public. It's the first time that I'm releasing that to the public.

I've been running that for about a year now with my best friend, who has a lot of experience in property and has helped a lot of buyer agents in Australia scale their businesses. He used to be a valuer.

So big into property and big in passive income, I first started my journey to replace my income because I used to be a plumber and I wanted to earn passive income so I could travel around the world.

That was my goal. What's most people's goal when they come to you and they say, “Hey, Allen, I want to get some passive income?” What's their main driver?

For me, I have to help people reinforce and remember their vision and their driver to stay committed to the part because I want to talk about some things that people do when they trip up on their journey to replace their income.

But let's start with how do people come and find you and what's their major goal with passive income?

Allen Lomax:

Well, yeah, I mean, experienced investors come to us, and they have different motivations than those who are just starting out. But for those who are new to passive income, I think they probably have a lot of the motivation that I did when I was first starting out.

I had a W-2 job. I was a professor at the university. I loved it. I was passionate about it. I didn't have any desire to get out of that because it brought tremendous fulfillment.

But whether you're an entrepreneur out there on your own, doing your own thing, or whether you're working as a W-2, either way, you're exchanging your time, your efforts and your creativity for money. And as long as that's working, well, that's good and fine, particularly if you find it rewarding like I did.

But there's always this low-level chronic anxiety if you're a W-2 employee like I was with the university. My employer can pull that rug out from under me at any point in time they want to.

If you're an entrepreneur doing your own thing out there, you don't have an employer pulling the rug out from under you, but you don't know when you could wake up with a chronic illness.

You don't know when you could have a serious accident. And when you're exchanging your time, effort, and money, that can be taken away from you at any point in time.

And so I think that the chronic low-level anxiety that any of us in that situation are constantly experiencing is stressful, and we want to alleviate that stress.

That certainly was my motivation and my desire to develop a passive stream of income that would be there if I lost my job and had a chronic illness where I couldn't perform. I wanted something there that I could fall back on. So that, typically, I think, is the motivation that most people come to us with.

Jaryd Krause:

Yeah, it's a good backup plan. And that's the same with my other investments as a backup plan. Whether I have investments in stocks, bonds, cryptos, or property, in case one of my businesses just decides to blow up, I have a backup plan.

And I think it's a very, very important thing to allow people to go through life with less stress, knowing that, hey, if I lose my job, it's okay. If I lose something like this, it's okay; you've got multiple backup plans.

Now, passive income, for me, was pretty difficult to get there. I started a couple of businesses, failed, and realized I didn't know anything about digital marketing.

Allen Lomax:

You've come a long way.

Jaryd Krause:

Yeah, it's a very, very big path to go from—I mean, I did high school education but—no university or college or anything like that to entrepreneur and wealth creator and stuff.

Allen Lomax:

Yeah. Well, I mean, that's a big path for most of us if we haven't grown up in an entrepreneurial family. It's a big step for all of us.

Jaryd Krause:

I think people underestimate how long or how much effort might actually go into it and I would say that I've achieved some pretty cool things after replacing my income and being in business, but I still revert back to saying that the hardest thing that I ever did was getting out of that rat race.

Now what are some of the things that you have foreseen with the people that you help coach, teach and guide that have tripped them up on their journey to getting these other assets and getting into the passive income game?

Allen Lomax:

Well, so many of the people that come to us are like me. I started off in the single-family gamut by fixing properties for rental income. And I think that that trips up a lot of people because they think, “Well, this is working,” and it was working. It was helping to develop my income.

But after five, six years of that, I was still working to develop a passive income. And one property at a time, one property at a time. That's a long, long way to get there.

But I don't know about Australia and Bali but in the US, we have this show; it's HGTV and they have these house flippers on there and they glamorize this process. And a lot of people buy into the idea that this is the way to develop a passive stream of income. And it is sort of working for them.

So it's kind of challenging to get people to go beyond that single-family process to go that, yeah, you can invest passively in commercial properties, and you can do it with less hassle, less headache, less heartache, and you can get to that passive income a whole lot faster than you can.

So it's busting that particular myth that you can do this one house at a time. That's probably the biggest myth to bust there.

Jaryd Krause:

I like that myth. And that's a very similar myth to the online business asset investing space as well.

In real estate. I've done a bunch of courses as well. I did five years of education in real estate before I bought my first property. And I was going to go down the buy, renovate, and flip and realize that, hey, that's a fair bit of work and it's not passive at all.

In fact, it's very hands-on, and it can be costly. And the more times that you do this, the entry costs and then the exit costs all compound and it's a scary thing.

It's the same with online businesses. When you buy something and then renovate it, flip it and try to chunk it up into a larger asset, it's not passive. It's very, very active.

And like you said with renovating residential properties, I can relate that to renovating small online businesses. Whereas if people start to go to the more commercial route in commercial property, it's far more passive and less work.

You are hiring people to manage the property, which is what we do with larger businesses as well. We typically hire or have a team that we acquire with the business that manages the business and then we can bring in people to do growth situations and stuff like that in the business.

So I see the correlations and I know the correlations. I'm buying a commercial property right now—a warehouse with a retail outfit attached to it. It's so similar to business. And this is why I love property and I love business, as they work together.

We need to understand that some people need to get started at a smaller level, but it is a lot more work. But if you can get to that point—and I think as a bit of a goal or a large stepping stone for people to get to that point—where they can buy larger assets and have better professionals run them and grow them for them, versus, let's stay in this game of flipping and renovating for so long.

What do you think about that?

Allen Lomax:

Well, that's the myth number two, actually, that it takes more to get into commercial investing. And of course, if you're going to do it on your own, then certainly, yeah, you're correct about that.

But the way that we do it is through syndication, and that's a big, scary word. People associate syndication with the mafia, but all syndication is just a group of people coming together for the same goal and to attain the same ends.

And so, as real estate syndications, we come together as a group with the goal of purchasing properties to give our investors a higher-than-average rate of return.

So the way we bust that myth is that there are actually two levels to it. There are active investors in a syndication and then there are passive investors in the syndication.

And so the active investors do all of that groundwork. They find the properties. They put the purchase agreements in place. They negotiate the prices. They do the underwriting to be sure that the numbers work and that it's a viable investment.

They do all of the due diligence inspections—electrical, plumbing, HVAC, roofing, flooring, so on and so forth—and go through them in complete and total detail. They complete the purchase, put the management teams in place, and then oversee the management process throughout the process. That's the active side of it.

The passive side of it is the individuals who bring their money to it. And since we're pooling those resources, any individual is not putting a tremendous amount of their investment into any one particular investment. So it's much more within the reach of people than what most people think about.

Jaryd Krause:

We also have a similar thing in my group of people that I help in the BOB community. We have a bunch of investors that are partnering with one another and going in and looking to buy businesses together, versus singularly as well.

They learn from each other. And it's nice to go on this journey with other people as well, I find. Because sometimes you have those days where you're like, "Oh, I'm not super keen on doing the work or whatnot," and then you've got other days that other people will lift you up. I think that's pretty important.

You've had quite an amazing life and what you've learned through your life is quite amazing, Allen. You have a relationship with horses.

So tell me about how you got into training horses, what horses have taught you and how you help people understand their connection to their horses or these vehicles like you mentioned on your site. I'd love to just open up. If there's a story that you need to share around it, I'd love to hear it.

Allen Lomax:

Well, I appreciate you asking that, because certainly it's a topic I love to talk about.

I've been interested in horses all my life. I actually had a horse when I was a teenager, went off to college and went into adulthood, and there just really weren't a whole lot of opportunities for that, or at least I didn't make those opportunities.

And it really wasn't until I was in my 50s that I looked at this situation. I'm going, “I really would love to have horses in my life.” I've always wanted them and I'm 53 years old and I'm going, “I'm not getting any younger; I've got to do this.”

And so I hired a riding teacher, started really learning to ride. And a close friend of mine was an equestrian all her life, so she was helping me to scout out and find a horse.

So I found a horse, brought this horse into my life, fell in love with the horse, continued the riding lesson, and started working with what they call natural horsemanship.

And through that process, I was just having a wonderful, glorious time. But at the same time that I was enjoying it, I was coming to the realization that even with these so-called natural horsemanship techniques that we're putting in place here, the horse is not getting out of this experience what I'm getting out of it.

And so I began to feel like an oppressor rather than having a shared experience with that. And so I started looking around for other people who were experiencing, perhaps, the same things that I was experiencing.

And I came across Stormy May and her documentary. She did this—I don't know—10, 12 years ago. It's out there on YouTube. It's free. It's a beautiful, beautiful, beautiful documentary, and it's called The Path of the Horse.

And as I was watching this, I just began to weep. And I realized that the reason I didn't have a relationship with the horses that I was working with was because, even through this natural horsemanship, we were abusing those horses.

Bits are painful for horses. In the equestrian world, they're in total and complete denial of that, but bits are painful. And if you watch anything with horses, and even just casual people riding on horses, you'll notice that almost invariably they're yanking on those bits.

And if you'll watch that horse, you'll see that horse go like that. And you can see that pain resonates through their whole body because their mouth is a very, very sensitive part of their anatomy.

So watching that, I found another practitioner; his name is James French. He's in the UK and he has a school called The Trust Technique. And through that experience, I really, really started to learn how to really connect with horses. And not just horses; it works with other [animals.]

So if I can tell you a story here because this is a recent story, I have a friend who just acquired a horse. This was three or four months ago. She wanted a quarter horse because, essentially, she wanted a rocking chair horse that was gentle and calm, and all she had to do was just get on and ride this horse.

Well, it turns out that this horse that she acquired, sure enough, does have some quarter horse blood in there, but he also has some thoroughbred blood in there.

And for the novices who don't know anything about these breeds, the thoroughbred is the racehorse. That's the horse you see on the tracks that's in Australia, in the US, all around the world. That's also the horse.

And the quarter horse is the horse that you usually see in reining activities, barrel racing and things like that as well. But they just have a much stabler personality, and they have much less spirit than the thoroughbreds, who want to run. That is what they were bred to do, and they want to do that, and they're highly spirited.

So she was having trouble with this horse because it wasn't the horse she wanted, and she just wasn't able to deal with it. So she wanted me to come and help her with this.

And of course, when I went out to see the horse, I mean, he was all high and spirited and holding his head high, and all he wanted to do was move. And so what I did was just go out there and stand with him and stand behind him in what is really a mindfulness meditation process.

And within 20 minutes of that, that horse had brought his head down. And for the first time, we were able to put a bridle on him, and it's a bitless bridle that I use. And we put that bridle on him, and for the first time, she was able to get on and ride that horse.

And there was no training involved in that, no coercion. It was just mindfulness meditation. And for horses, humans, dogs, and cats, it works the same way. We all have feelings, and we all want peace and quiet in our lives. And that's all that horse really ever wanted.

Jaryd Krause:

Wow. That's a beautiful story, Allen. Thank you so much for sharing.

I'd love to pick your brains on what you have learned through being with horses, riding horses and learning about horses and how that relates to investing and all of life.

I love buying businesses and property, but I run that through my own philosophies first, and I only do it in the way that I think is the best possible way for everybody, apart from the deal and the journey.

And I obviously meditate every day, sometimes twice a day. If some people have asked me, “What's the one thing that you need to get rid of out of your life and the one thing that you'd need to keep in your life that you do daily?”

The one thing I'd keep would definitely be meditation. It's the most valuable task that I do, and that's compared to business property, investing, and everything like that.

So quiet mindfulness for growth. You do talk about that. Can you share some of the lessons with us around how quiet mindfulness has not just helped you but everybody that you've worked with through their journey in investing?

Allen Lomax:

Well, just another story. And this actually takes me back to my years when I was an administrator in higher education before really stepping into these things that I have learned really later on in my life.

But I was an administrator and I had directors working under me. And the advising center was under me, and the tutoring centers were under me.

We had gone through this process with the advising center to do online scheduling. So that students could schedule their appointments from their dorm room or wherever it was that they were. And so we had this app, put it in place and developed it for the advising center.

So I wanted the tutoring directors to do the same thing. And so I put a lot of pressure on them. I said, “We have this app. Why don't you just use this app, take this app and apply it to the tutoring center?” And they were actually trying to do that, and they were extraordinarily frustrated in doing that.

So we had a meeting one day, and they really hadn't made the progress that I wanted them to. And so I was really hard on them. I said, “You need to get this together and get this done. There's no reason not to have the scheduling in place.”

So we left that meeting. And afterwards, a director came up to me in tears and said, “We've really been working on this. This app is not working for the tutoring center, but we have been doing some research and there actually is an app out there designed for tutors.”

Well, that was a wake-up moment for me, really, even at that time. And it applies to today. Because had I been applying mindfulness at that particular point in time, I would never have put that kind of pressure on those directors.

Because they were diligent, they were doing their jobs, and they wanted the same thing I wanted, but I put them in a very uncomfortable position because I couldn't quiet my mind and come to a point where they were.

So in terms of investing, investors who come to us are looking for a place to put their money and to invest. How do I apply that? I just apply it quietly. We always have a consultation to start out. And I never put any pressure on them. I just explain to them what it is that we do and how the process works. And I do so in a very quiet, mindful manner.

And I don't necessarily always say this, but I always have in that quiet place, in that quiet mind, that this is a process for your well-being. And if this isn't working for you, it's not your well-being, then we don't want you investing with us because it's not the right thing to do.

So it's just every consultation I come to, and I come to that with a quiet mind. And before every consultation, I have a few moments of meditation. I have mindfulness practice just like you do, but I also have time throughout the day where I have that mindfulness.

Jaryd Krause:

Wow. I love that. I absolutely love that.

And this is a huge, huge thing. I think that people listening may not have picked up on it, but I did. And I hope people start to maybe pick up on this in their own lives.

I want to applaud your self-awareness. You’re catching yourself and going, “I didn't do the best service to this staff and to this group at that time with this app.”

And you’re coming back and reflecting on that and going, “Wow, I could have handled this a bit differently and putting your ego aside or just completely disregarding that ego and going, "Wow, I could have done this in a different way that would have helped everybody a lot faster.”

And I think the most successful people are people who do learn to have that self-awareness in their lives and then have that self-awareness in how they behave and how they show up in their investments as well.

And that self-awareness, from what I have learned in my life and what I see through your stories, comes about from a quiet mind. It comes from that meditation and how valuable that meditation is.

A quiet mind absolutely helps people not be rushed, be more patient and make the right investments at the right time. Because timing is so important, I feel that investing in anything has to feel right.

A lot of times, I've noticed people who are in a rush—and I have done this to myself as well. When I'm in a rush, I make poorer decisions because I'm more stressed, right?

And the more things that are going on in my mind, the more problems I'm trying to solve, and I've got too much going on, my stress levels will be a bit higher, and I will be more tired, I'll be less aware, and I will make mistakes, like I might trip over something, or I'll lose my keys or whatever it is if I don't have a quiet mind,

And if you think about that in your daily life, it's big. But if you relate that to, like you said, investing, it's absolutely massive.

And I feel that for you, Allen—I don't know, I'd have to ask everybody that I work with—but when people come to you and speak about, "Hey, I want to make an investment" or "I want to put my money somewhere," you are just with them and you're very present. That presence provides confidence.

And when they look at you and that energy exchange, they can see that, "Hey, if this is right for you, let's do it. If it's not right for you, let's not do it." That is a huge thing that people really need when they're coming to make an investment in money or do something that's dangerous.

I've got a story where I used to be a divemaster, and I used to live in Egypt. And I used to take people scuba diving a couple of times a day. And you can't just rush to the surface if you freak out when you're scuba diving because you can get the bends, you can get nitrogen narcosis and stuff like that.

Allen Lomax:

I did.

Jaryd Krause:

You've done that before?

Allen Lomax:

No, I didn't get the bends. I rushed to the surface. I mean, we weren't that far down, but my son was running out of oxygen.

And I could see that, and I just completely lost it, and we went to the surface, which was a bad thing to do. But fortunately, we weren't that far down. But yeah, I know what you're talking about.

Jaryd Krause:

Yeah, it’s very fortunate you weren’t too far down. I was about 20 to 25 meters deep with somebody, and they had sort of freaked out a bit. I grabbed them as they started to swim to the surface.

So I had literally grabbed them and pulled them down, and they were fighting me underwater. It was an actual rough battle because they're in fear, right? And so they're kicking and hitting me, and I'm underwater.

And I've done a lot of diving, and I think I would say I'm quite a confident swimmer. I've spent most of my life in the water. And so what I did was shock them, take them out of their present state and get them into a calm state before they just bailed up to the top.

So I grabbed the person, and I just literally went into survival mode for them and just shook them as hard as I could with the BCD, which is that jacket that they would be wearing. I shook them as hard as they could to not hit the person in the face or anything bad like that but I shook them out of their fear.

I knew a lot about the eyes, trust and bringing people into a calmer state. And I just shook them out of their fear. And then I had them very strongly look at me with the look-at-me signals and all the stuff underwater that you teach when you're a divemaster.

“Look at me.” And they stopped, they looked into my eyes, and I was just showing them, “All right, let's just slow down. Let's just breathe through this, relax, and it's going to be okay.”

And they just slowed down, stopped, relaxed, didn’t rush to the surface, and then we were able to continue the dive. And it was so important after that. That person was like, “Wow, okay, if I had to go to the top, it would have been the worst thing possible for me.”

And that comes from what you said, when you're talking to somebody, you can only do it in that state when shit hits the fan—excuse my language—if you practice mindfulness, you could be present and not make bad decisions. You can make far better decisions.

And that's so important when you've got financing, money, and all this cash that you've saved up. You're about to invest in something, and then you've got all these things going on in your head, and you're freaking out and you're stressing.

You really need somebody like you, Allen, to say, “It's okay; I've done this multiple times, and this is the normal process. Let's just speak through it. Let's just go through it and let's just go through the process normally. It’s totally normal; be with me.”

And that's a big thing that I think people are missing when they're coming to invest. Do you see those similar patterns where people have that freak-out phase, or they get worried or impatient and start to make decisions that aren't the best for them as they're going through their journey?

Allen Lomax:

Absolutely. And particularly people who are new to us and know us through our website, they know me through my podcast, but that is a distant kind of knowing. And so they don't have the trust levels that investors who have been with us have.

And yes, I see them doing this all the time. And I mean, I'm always advising them to go to their financial advisors and their attorneys to have all of this information checked out. The problem is that there aren't really a whole lot of financial advisors out there who actually know anything about real estate investing.

And so I see them actually going to financial advisors who really aren't qualified to advise them. And they do that because they're looking for that assurance. “I'm going to put this money up—oh but let me check with my financial advisor.” It's that panic moment.

And it doesn't work out well for them. Because they know their previous financial advisor, and even though they don't know what they're talking about, they take their advice rather than going forward with an investment that would be hugely beneficial to them.

Jaryd Krause:

It's a shame, isn't it? I would relate it to a doctor. If you go to a specialist about, say, your knee, right? So you've hurt your knee, your ACL, or your MCL, and you go to a knee specialist, and they say, "All right, we need to do this to improve your knee."

And then you go to a generalist, like a financial advisor, and you say, "I’m going to take this strategy, this investment strategy, towards my knee health."

And the GP can typically say, “Oh, no, that's not the right way to go,” and they'll prescribe a different strategy based on what they feel is within their wheel of competence, right? a specialist who knows so much more about the knee.

And it's a shame because I feel a lot of people put a lot of weight on general advisors that they have spent time with or that have sort of maybe helped them a little bit in the past.

However, if you continue doing the same things you've always done, you're going to get the same results you've always gotten. And if you want to go to a different place, you need to change your strategy, right?

And you need to listen to people like you, Allen, who are like, “Hey, we do this investment strategy so many times and these are the results we've got for people.”

It's a mindset. It's really a mindset issue, isn't it? People need to open up to changing their mental model, their view of the world and how they should move forward with investments or not.

Do you have any particular philosophies or mindsets that you normally teach people to help them through certain stages like this? Obviously, you're a person who is more supportive, a guider and a helper than the opposite.

What are some of the strategies that you share with people or offer to people that they can use to get through some of these times where they're like, “I want to do this, but I've got all this stuff going on in my head”?

Allen Lomax:

Well, first of all, listen to them and talk with them about what their fear? What is their anxiety? And let them go through that fear process, and ask them, “Looking at the investment offering that we're looking at here, are these fears really legitimate fears or are they just built upon anxieties that really aren’t there?

And so let's look at this investment opportunity from that fear perspective. And what is it about this investment that you're afraid of? Are you afraid that you aren't going to get your capital back?

Are you afraid that you're going to put your capital in here and it's not going to provide a return? Are you afraid that you're going to get a return on your investment? Those are all legitimate fears.

So first of all, let's take a look here at the numbers. We've got the numbers. Our team has gone through these numbers upside down and backwards and analyzed them in 101 different ways. So let's take a look at it.

And if, after you've taken a look at these numbers, you still feel like this is something to be afraid of,? And if you don't want to put your money here, what are your alternatives?

Well, you can go to your CDs. You can just park your money in CDs and earn less interest than inflation. Is that a good thing for you?

You can put it in index funds in the stock market that probably is kind of equal to inflation, but probably not really getting you ahead of that. Is that a good thing for you?

You can put it into selective stocks. And if you know what you're doing, that could be a very profitable and good thing. How much time, effort and research are you willing to put into that to ensure that it's a good investment?

So what are your other options? Like many of our new clients have done, you could put that into another single-family home. And then you've got all those headaches that come with managing your single-family home. And you've set yourself back another time.

So you can think about those things from that number perspective. But another thing I just like to do is get quiet here and be calm about this. And I want to talk about some of the intangible benefits of passive real estate investing.

Would you like to be part of a team that is operating an effective and efficient complex where the tenants are happy, content and glad to be living there? Do you want to be part of a team that takes a crack house community and turns it into a community where children can play without supervision on the playgrounds?

Do you want to be part of the solution to solving this housing shortage that we're facing here in America, where we can provide comfortable, aesthetic, and appealing, affordable housing for a community in need of those things?

Those are the other things. They're certainly not your tangible rewards, but those are the rewards that are part of being part of a team that knows what they're doing.

And the other thing to think about in terms of helping to alleviate these fears is whether the team that you're going to be investing with is an experienced team.

They've been through this process. They've turned at least 10 properties from start to finish and have consistently returned high returns that doubled your money within three to five years. So tell me about your fears.”

Jaryd Krause:

Yeah, I like that. I know that in sales, and I've learned a lot about sales, and I have had a sales team and I've taught sales teams myself. There is a lot of what they call objection handling.

Somebody will put up a fear and then they just try and prove why that fear isn't, and it's more of a forceful way why that fear should not be justified, versus saying, “Hey, there's this thing that's going on your head that is literally and physically, but definitely mentally making you feel or allowing you to feel a certain way, which is stressed, worried and anxious.

And that's not a lie. Your body's not lying. Your body does not lie to you. You're feeling those feelings because of what's going on in your head. So let's understand that. Let's unpack that.”

This is what a good therapist does. And I believe the best coaches and the best mentors, basically, don't just have a certain amount of IP and teach a certain amount of IP. The best coaches and mentors are just therapists.

In fact, my coaching clients call me a business therapist because they come to me with all these things freaking out. And they leave with one or two strategies that they're more empowered to go away and take action on.

And that's what a mentor who has that level of quiet mind, presence, and awareness can say, “Hey, let's legitimately feel these feelings and see if you should be feeling these feelings or not. And what are your options?”

You could go and not invest it in this strategy. Or like you said, you presented all those different options, investment strategies there, Allen, and then you presented one that he's like, “Well, you could do it my way or not. And I'm not making you do either.

But you go away, have a think about it. See which one feels a bit more comfortable for you. See which one feels you have less anxiety around. And then you should go away and do the one thing that is better for you, makes you feel better about your life.”

So I love that, Allen. I love the way that you listen. I love the way that you're present. And I love the way that you're guiding people to make better decisions for them based on what is right for them, not just the opposite way, where there's a lot of people in the world that are forcing.

So, yeah, I just want to say, thanks, Allen, so much for coming on and having a chat and sharing your stories, sharing what you've been through and sharing some of your strategies. It's really been a privilege to chat. I really, really do appreciate it. Thank you.

Allen Lomax:

It's been a privilege for me as well. And I really appreciate the opportunity to be with you. And well, I've been impressed with you as a host and with you as a person as well. So thank you so much, Jaryd.

Jaryd Krause:

Thank you, Allen. Where can we send people? What link can we send people to check out more about what you're up to?

Allen Lomax:

We've been talking about horses. The best place to go is steedtalker.com/webinar. And steed is like the horse and talker is like what I'm doing now. So that is steedtalker.com/webinar.

And in that webinar, it is entitled Real Estate Investing Reimagined. And you'll learn more about the five elements that make real estate investing the ideal investment, discover how to substantially reduce your tax liabilities, learn the secrets of recession proofing your nest egg, beat the eroding power of inflation, and explore the unique ways to find the syndicators who possess the ethics and morals that you possess and who have the deep and wide experience that you need to know that they have in order to have peace of mind investing with us.

So that is steedtalker.com/webinar.

Jaryd Krause:

Awesome. Thank you so much, Allen. Everybody who is listening, thank you for listening.

I don't typically ask you guys to do much when you're listening to these podcast episodes. However, this podcast episode was gold. We talked so much about investing without talking about actually investing.

We talked about mindset. We talked about philosophies. We talked about strategies that are going to help you invest—not just your money in investments, but your time. It's going to make your life so much better.

So what I would love for you to do is, if you did get value from this episode, please share this with one person that you know who is trying to grow in some way, at some stage, or in some direction in their life that you feel could add value to them.

Thanks so much, guys. And I'll speak to you about the next one.

Hey, YouTube watchers, if you thought that video was good, you should check out this video here on the 2 Best Types of Websites Beginners Should Buy. Or check out my playlist on How I Made My First $100k Buying Websites and how to do due diligence. Check it out. It's an awesome playlist. You'll enjoy it.