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The Private Lender Podcast - Keith Baker 2nd August 2021
PLP-135 The Fifth cure to a Lean Account Balance
00:00:00 00:12:58

PLP-135 The Fifth cure to a Lean Account Balance

Hello Private Lender Nation!!!!

If you’re looking for practical tips and advice on how to put the power of the banking system into your investment accounts, then you are in the right place.

But do you want to learn from my mistakes so you can both avoid and profit from them? Well then pull up a chair and pour yourself a drink, my friend. Because this podcast is just for you, as I am dedicated to giving people just like you and me the knowledge and confidence for successful and profitable Private Lending.

In today’s episode, we will continue with our monthly lesson from the book by George Clason's the Richest Man in Babylon. Today’s lesson is the 5th cure for a small account balance, which is simply: Make your house a profitable investment, or in other words, own your own home. but before we get to the heart of the matter, first I need to do a little housekeeping.

1 - Have you joined the Private Lender Podcast Facebook group? Well why not? Head over to the show notes for the link or simply search Facebook groups for the Private Lender Podcast.

Private Lender Podcast Facebook Group

2 – And most important of all, the Private Lender Academy still needs some work before I introduce her to the world and therefore I’m departing from the original plan in hopes of getting the course to life. However, on August 17th at 7:30pm CST, I am holding a webinar/Facebook Live where I will begin to teach the principles of the academy. The purpose of the webinar is to get 10 committed people to opt-in to group coaching where I teach you everything I know about originating private loans.

As a result of participating in the group coaching, you will help me refine the PLA and receive a free copy of the course once it is complete. I am looking for 10 students to form this focus group that will help refine the course over a 4-week period beginning in late August.

So head over the www.PrivateLenderAcademy.com and click on Apply Now

Apply – Private Lender Academy

OK, the housekeeping is finished and now it’s time to get down to the brass tacks of today’s episode: the 5th cure for a lean account. And like so many lessons in life that we should heed, the principle is quite simple, but sometimes we humans seem to have trouble with the execution.

Let’s get down to the brass tacks and listen to what Arkad tells his students:

Make your house a profitable investment. A. K. A. - Own your Home

"If a man sets aside none parts of his earnings upon which to live and enjoy life, and if any part of his nine parts can be turned into a profitable investment without detriment to his well-being, then so much fast will his treasures grow." So spoke Arkad to his class at their fifth lesson.

 "All too many of our men of Babylon do raise their families in unseemly quarters. They do pay to exacting landlords and liberal rents for rooms where their wives have not a spot to raise the blooms that gladden a woman's heart and their children have no place to play their games except in unclean alleys.

"No man's family can fully enjoy life unless they do have a plot of ground wherein children can play in the clean earth and where the wife may raise not only blossoms but good rich herbs to feed her family. 

"To a man's heart, it brings gladness to eat the figs from his own trees and the grapes of his own vines. To own your own home and to have it a place he is proud to care for, puts confidence in his heart and greater effort behind all his endeavors. Therefore, I recommend that every man own the roof that shelters him and his family. 

"Nor is it beyond the ability of any well-intentioned man to own his own home. Has not our great king so widely extended the walls of Babylon that within them much land is now unused and may be purchased at sums most reasonable? 

"Also, I say to you, my students, that the money lenders gladly consider the desires of men who seek homes and land for their families. Readily may one borrower to pay the brickmaker and the builder for such commendable purposes, if one can show a reasonable portion of the necessary sum which you yourself have provided for the purpose.

 "Then when the house is built, you can pay the moneylender with the same regularity as you did the landlord. Because each payment will reduce the amount you owe to the moneylender, a few years will satisfy his loan.

 "Then will your heart be glad because you will own in your own right a valuable piece of property and the only cost will be the king's taxes. 

"Also, will your wife go more often to the river to wash your robes, that each time she returns she may bring a goatskin of water to pour upon the growing things.

 "Thus come many blessings to the man who owns his own house. And greatly will it reduce his cost of living, making available more of his earnings for pleasures and the gratification of his desires. This, then, is the fifth cure for a lean purse.

 

  1. Here’s the deal, I don’t charge money for this show, but there is a cost and I would be extremely grateful if you would help drive awareness to the show, to get the word out by leaving me an honest rating and review over at iTunes, Google Podcast or whatever platform you are using to hear my voice.

It doesn’t take that long and it’s a small price for the value I try to provide.

That’s gonna do it for Episode 135 and just a few final thoughts:

1 – Join the Private Lender Podcast Facebook Group

2 - Head over the www.PrivateLenderAcademy.com and click on Apply Now

Apply – Private Lender Academy

if you would like to be part of the group coaching focus group.

 

As I sign off I’d like to say in addition to self-awareness and mindfulness, I wish you safe and prosperous Private Lending.

I’ll catch you on the next episode.

-k