55. Tim Harris' Rules for Success: Contrarian Advice That Just Might Change Your Life and Increase Your Profit

Time stamped show notes:

[3:11] Married his high school sweetheart. They’re from Ohio.

[3:31] They [him & wife] pooled money together to buy their first investment property.

[3:57] Sold 100 houses in their first year of business.  

[5:17] People started asking them to be speakers. They built momentum and got into coaching

[7:41] They’ve always made decisions based on profit.

[8:03] Rich: When your money works for you / when you don’t have to work for your money

[8:35] They don’t take debt because they’ve never seen a person with no debt go bankrupt.

[10:42] When the market changed [2007], they pivoted and started teaching agents how to go after the distressed market.

[14:12] Rule: Don’t follow your passion. Your passion will betray you.

[17:12] Passion is an emotion tied to ego.  

[17:35] People who follow their passion only work/achieve at a high level when they feel a certain way about something.

[19:58] Doing what you don’t want to do, when you don’t want to do it, at the highest level

[25:34] When you’re trying to help someone, your ego can’t be the loudest voice.

[28:10] Ego = fear

[28:18] There’s two types of fear: (1) psychological and (2) physical

[29:46] Psychological fear = ego fear

[31:59] Psychological fear is optional.

[37:32] Most people go into business because they want to have a sense of freedom.

[39:35] You have to have product as your profit.

[40:14] If you don’t have profit as your main driver, you won’t have any (unless it’s a social venture).

[45:11] Why is actual profit a taboo topic?

Three key points:

1. Doing what you don’t want to do, when you don’t want to do it, at the highest level
2. When you’re trying to help someone, your ego can’t be the loudest voice.
3. If you don’t have profit as your main driver, you won’t have any (unless it’s a social venture

Last question:

Listen to their daily podcast: Real Estate Coaching Radio

Read their book: Harris Rules

How to contact: tim@timandjulieharris dot com