E236 Patrick McGinnis - How to Harness FOMO in Real Estate Investing and Make Courageous Decisions in Times of Uncertainty

Patrick J. McGinnis is an international venture capitalist, host of the hit podcast FOMO Sapiens, and author of Fear of Missing Out: Practical Decision-Making in a World of Overwhelming Choice.  Patrick coined the term FOMO (Fear of Missing Out), as well as the related term FOBO (Fear of a Better Option) in a 2004 article in the student newspaper of Harvard Business School. FOMO has since been added to the dictionary and FOBO has become an increasingly popular framework to describe choice paralysis.  

Tyler and Patrick discussed how real estate investors are affected by FOMO and FOBO, how FOMO can be leveraged for good, and practical decision-making in times of uncertainty.

Highlights include:

• The circumstances that led to Patrick coining the term FOMO
• The major drivers and triggers of FOMO, and how to combat them
• Why decision-making is the cure to FOMO
• How FOMO can be leveraged in real estate investing
• The power of FOBO from an investing standpoint, and why it often creates analysis paralysis
• Several ways to make effective decisions in times of uncertainty
• How Patrick structures his investment thesis as a venture capitalist

Connect with Patrick:

FOMO Sapiens Podcast: https://fomosapiens.com

Website: https://patrickmcginnis.com/

LinkedIn: https://www.linkedin.com/in/patrick-mcginnis/

Instagram: instagram.com/patrickjmcginnis

Facebook: http://www.facebook.com/ItsPatrickJMcGinnis

Twitter: twitter.com/pjmcginnis

 

The following books were mentioned in the show:

The Fear of Missing Out by Patrick McGinnis
The 10% Entrepreneur by Patrick McGinnis
Man’s Search for Meaning by Viktor Frankl
The Lean Startup by Eric Ries
The Happiness Advantage by Shawn Achor  

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