Why Keeping an Open Mind Matters: The Value of Learning From Others

You can always learn something new if you keep an open mind!

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It is natural for children to have open minds. They learn from the people around them without trying. As we age, our perspectives begin to narrow. With time, we can become downright rigid. This is not the best way to maintain cognitive flexibility. The most successful people remember that an open mind is essential to success. It is crucial for you to always learn what you can from others.

Top Strategies to Learn as Much as You Can From Others

The BRRR method is one great example of a strategy that you could learn from a professional. It is an abbreviation for a common technique used in the real estate industry.

Buy, Rehab, Rent, Refinance, Repeat

People who are serious about real estate understand that it is an investment. When you put your money into real estate, you are not spending your money the same way you do at a retail store. Spend your money on real estate the right way and you can generate new income streams. Eventually, you can earn more money from your real estate investments than you do from your day job.

Buy

Ownership matters. If you want to get started in real estate, you must buy a piece of property. That does not mean that you should go and buy the first piece of property you see. The first real estate investment you make will be one of the largest purchases in your life. It’s wise for you to take the time necessary to research it thoroughly.

Rehab

By a property that has high potential value but could also use some work. Only by property that you believe you could do most of the work for yourself. Once you are the owner, do any necessary repairs.

Rent

Now, it is time for you to find tenants. When you rent a piece of property, it becomes a source of income for you. Remember to charge more in rent than your mortgage costs. The difference between the rent and the mortgage will be your monthly profit.

Refinance

After you have done some work on the home and gotten some tenets inside, it reevaluated the home’s value. Then, take that information to the bank. Ask them to refinance your original mortgage. Since the home is more valuable because of the work you did and tenants, you should receive a much better deal.

Repeat

You can use the new income stream to apply for financing on additional properties. It will be slow in the beginning. It speeds up the more that you do it.

Sustainability

Sustainable living is an important skill for all of us to learn. Thankfully, there are already people all around the world who are ready to teach us how.

Pollution

You pollute the environment without even realizing it. Anyone that lives in the modern world does. It is an unfortunate fact that much of our way of life is unsustainable. Developing new habits will be essential to continue living on planet Earth.

Mentoring

Mentoring is vital for many people. You could ask some of the most successful people throughout history. They attribute much of their success to their mentors. Aristotle had much to say of Plato, for example. There are many reasons that mentors are such powerful figures in our lives. We can learn many things from other people. However, the bond that a pupil forms with her mentor is more than a typical bond. It is stronger, and it grows with time.

Experience

Most people seek out mentors who have experience in fields that interested them. The mentor shares powerful insights. Talented mentors can transmit knowledge to their pupils. This allows the pupils to skip years’ worth of training.

The Power of a Connection

Humans are social creatures. It is an undeniable fact. Unfortunately, much of the modern world neglects to consider this. We work in cubicles. That is not a good recipe for happiness. When you work with a mentor, you form a connection. This connection can help to nourish your purpose. Your purpose is one of the most powerful assets you’ll ever have.

Finding New Perspective From Others

You should never be so arrogant as to believe that you are too old to learn from other people. Old people can still learn from others even when the other person is younger than them. Sometimes we can learn the most valuable things from children in our lives. They have a way of recognizing the truth that we overlook as we age.