To watch and listen to Dr John Demartini speak, click here. Alternatively, this video has been transcribed below.
Narrator: When it comes to wealth creation through property investment, what does a financially independent person look like inside and out? Dr John Demartini, Specialist in Human Behaviour, says the truly wealthy are so because they have a value on wealth.
Dr John Demartini: One of the things I have studied, because I have interviewed billionaires, I’ve interviewed poor people. The people who are wealthy have a value on wealth. And they have a higher probability of making sure whenever they do receive any portion of money that they put it in things that appreciate in value. They think about investments. They focus on it, they study it. Where most people have a fantasy about being financially independent and their focus is about how they can spend it on a lifestyle.
So I ask people, I am going to give you a minute, I am going to imagine you just received 10 million dollars US and I want you to imagine that you would have one minute to write down what you would do with that 10 million dollars. And they quickly write down the ten things they would do with that 10 million dollars. And to their surprise, when they are done with that I hand it to the person on either side of them and they read it and they calculate how much of that 10 million has been spent. And they found out in the whole room that only seven people out of 5000 people put it into investments that appreciate in value. They are lifestyle orientated. And many people live in a fantasy that they want to be wealthy, but they don’t really have a wealth value. They have a lifestyle value. And as long as they have a higher priority on spending it on consumables and depreciables, then on things that appreciate in value with a return on investment, the probability of them being financially independent is very low. And it doesn’t matter how much money they make, because their values dictate how they manage what they make. If they have a higher value on spending it then on investing it then no matter what they do there will always be problems with liquidity and problems with what they do with their money.
Narrator: So what do these successful people do?
Dr John Demartini: If they have a value on it, there will be some signs of it. They will be studying it. They will be reading magazines on it like yours. They will be reading in newspapers and keeping current with what’s going on. They will be reading books on it. They will develop an education on it. They will make sure they are associating with people who are already farther along the pathway and they will get mentorship on it. They will make themselves not over-exaggerate, but they will take themselves methodically and they will think long-term. I would say long-term vision is farther and more powerful than immediate gratification. When they do actually get a deal, they won’t impulsively buy the deal, they will investigate the deal. They will think of everything, they won’t be blind. They will have a checklist of things and make sure that they follow the strategies that are proven to work. On a daily basis they will be asking what worked and what didn’t work. They will be learning and making sure they compile a strategy that is sound. And they will methodically be waiting for opportunities in the market. They are not going to just impulsively go and try to get this quickest system in my experience.
Narrator: So how can somebody go about getting into the right headspace? Demartini says it’s all about inspiration and your values.
Dr John Demartini: I tell people to write down 200 benefits of dedicating your life to mastering property investment. 200 benefits. Because when you have a big enough reason for doing it, you will do it. So you have to have enough reasons to do it. I have a value determining process that I have on my website. At Dr Demartini.com on the left side of the menu there is a place that is value determination. If you hit that button you can go in there and it shows another little menu of how to determine your values. I highly recommend people doing that. It’s a 13 little questionnaire that will help you determine what is really important to you. Once we find out what that is then we link property investment to that. And they start linking how specifically is doing property investment. And they don’t write down the benefits of the fantasy world that they are going to get if they do. They don’t write down that they are going to have a speed boat or are going to have this spending money. They write down the benefits to them in their current values of actually mastering the science and art and philosophy of building wealth through property investment. That means that all of the details. All the due diligence, all the contracts or the things that are really involved in it, and they need to know what that is and how specifically is mastering that and doing that going to help them build their wealth. If they have a dream about doing that, they are going to master it. If they have the fantasy, the I don’t want to do all that, I just want to live the fancy lifestyle, then probably the second that it gets challenging they are going to bail out.