Y’know it’s funny.
People hear that I retired to Byron Bay and they instantly assume that every day is sipping lattes at a cafe and eating smashed avocado on toast.
They automatically make the assumption that I live a life of pure leisure, outsource everything and rarely lift a finger to do any work.
I have to admit I am partially to blame for this misconception.
The marketing that I put out there, the theme of my book, the story that is told about my life when marketing my course, all point to a life where all I do is surf all day and drink expensive wine at night.
Of course, that’s not 100% true.
Do I surf every morning? Absolutely.
Do I enjoy a nice glass of red? You betcha.
Do I travel five or six weeks of the year and staying lovely villas in Greece and Italy… yup! Love it!
But it’s not all tumeric lattes and massages… Here’s the dirty truth about my daily life and how I got here…
The thing is… Good commercial properties don’t just fall in your lap, not even when you’ve got years of relationships, and real estate agents sending you properties all the time.
Part of my work with the members of my commercial investing community is looking for properties that I believe are good deals.
Every month I scour the Internet looking for deals. I go through hundreds of listings. I make tens if not hundreds of phone calls or emails asking for the details of these properties, getting information memorandums, and doing due diligence.
This work keeps me pretty busy.
Some of these properties are passed on to my students to have a look at further. Some, I investigate myself. Most are not worth my time and get left for commercial investors less astute, or less picky than myself.
When I do find a property worth looking at, I spend money on the due diligence process. I make call after call after call finding out about the property and the area.
I will drive hours, or even jump on a plane and stay a few nights just to be there and physically inspect potential deals. I’ve been known to stake out shopping centres for days on end sitting in my car and just watching what happens.
People say to me “James you always seem to stumble across the best deals” but let me tell you I’m only stumbling because I’m exhausted from all the legwork.
It’s true that if I stopped doing all this work, and stopped buying new properties, I would be able to live on the passive income from my current portfolio very happily for the rest of my life.
But it’s also true that this is a passion, and I love helping others get to a place of financial freedom as well. And you don’t fulfil a purpose like that spending all your time surfing and chomping smashed avocado on toast.
And you certainly don’t find it amazing commercial deals, wandering aimlessly around the Internet for a few hours once a month.
If you wanna find amazing deals, learn what the criteria are, practice finding them, and then do the activity every single day until you’ve got it down!
Do that and then, when people start to say you ” wow! You just seem to stumble across the most amazing deals”, you can quietly smile to yourself, and think… “Why YES… Yes I do”
Just remember that all success, even overnight success, is usually 20 or 30 years in making.