Brock Frost has truly mastered the art of financial freedom, and then some. Not only does he travel 5 months per year like clockwork, but he has been to 103 countries (and counting), all the while managing 4 separate businesses and generating more than $200,000 per month in income. He is a millionaire many times over and seems to become wealthier with each passing year and each passing adventure.
But what is his secret?
Frost came from humble beginnings and didn’t even begin his career until the age of 30. Starting with a mere $15,000 line of credit, Frost was able to build a real estate empire valued at more than $50,000,000 by the time he was 41.
He is just getting warmed up too, said Frost during a recent interview. “I live life large, but I live it in the present while simultaneously building for the future. Most Canadians procrastinate truly living until it’s much too late. I mean, what is the point of working so hard anyway if we are never going to actually enjoy the fruits of our own labor?”
Frost runs 4 separate companies, all remotely and all from his laptop and cellular phone. He is in the top 1% of all mortgage brokers in Canada earning well over $1,000,000 a year in commission, runs a successful private loan and mortgage company, Capitis, operates his massive portfolio of rental properties and coaches private students on how they too, can live financially free. Oh, and he has also published 2 books with a 3rd on the way!
When asked what is magic formula was, Frost responded with the following key points that he believes are required for living financially free (in his own words):
a) Get Rid of Negativity – negative people and negative energy are cancerous and need to be removed from your life as soon as possible. Whether it is long-term friends or even close relatives, people who complain, gossip, spread rumors and blame everyone else for their own shortcomings will do nothing but bring you down with them. Surround yourself with optimists, go-getters, individuals with more experience than you and those who are trying to make a positive impact in this world.
b) Buy Early – Just like in the game of monopoly, where those who own all the properties always win, I believe in doing whatever is necessary to accumulate as many properties as you can. People spend too much time focusing on trivial items such as interest fluctuations, media headlines and bad tenants. This type of mindset will only help slow you in your tracks when in reality you should be full steam ahead. Real estate, like any business, has downsides, but in the long run those who own the assets will always reap the rewards. Period.
c) Live Debt Free – Outside of my mortgages, I have absolutely no debt. When you live debt free, you have absolute control over your financial position because you don’t owe anything to anyone. It’s also a waste of hard-earned, after-tax income and simultaneously, makes any loan or subsequent mortgage application that much weaker. Leverage is one thing and part of strategic investing, but carrying useless consumer debt is counter-productive on many different levels.
d) Organization – A huge part of being able to work remotely and on a mass scale, is being organized. It is literally impossible to run multiple, large businesses if you are not extremely on top of everything. I use simple technologies like Google Drive and DocuSign in addition to private banking and an international phone plan to manage my affairs. With these tools, I can sign anything from anywhere, send money in large quantities to virtually anyone in the world, access any document in a matter of seconds and communicate with whomever I need to at any moment in time. Furthermore, I relentlessly track every single cent in and out of each of my bank accounts and keep flawless financial records on every aspect of my businesses. Without proper data, it is impossible to spot issues, plan for the future or analyze the volatility of a particular project.
e) Build a Team – With there being only 24 hours in a day, it is not mathematically feasible for you to become wealthy on your own. You will need help. I have numerous people that I contract on a full-time basis including a mortgage assistant, private loan administrator, 3 property managers, a bookkeeper, two accountants, one personal assistant, a marketing team and two lawyers. You must pay these people well, empower them to grow alongside you and most importantly, let them too work remotely in the efforts of creating their own financial freedom as well.
f) Hire a Coach – To this day, I have learned everything on my own. I never had a coach or mentor and although I understand a great deal now, I wasted years and 100’s of thousands of dollars by not having someone guide me from the start. Hiring a coach, or someone more knowledgeable than you, ensures that you do it right from day one. This not only saves you money in the short term but saves you valuable time as well. In the end, time is the most crucial ingredient in the investment world due to the powerful effect of compound interest and exponential growth.
g) Scalability – If something cannot be done on a mass scale, don’t do it. There are only 24 hours per day and if something isn’t scalable, eventually it will reach a limit. No investment or business should be considered if there are no opportunities for constant expansion. Real wealth is created when you employ people, technology and systems in order to generate systematic passive income.
