OfflineWhy is it that some people are successful and others aren't? You know, I wonder what it is that distinguishes those that get out there and make the deals and make things happen while others wait for months or years to get things going. I hear people on here all the time saying they haven't made any money yet, some depressed, some frustrated, and some thinking the system doesn't work. Fear slides right in and shatters dreams right before us. It was something Napolean Hill took to the next level in writing his book Think and Grow Rich. But, I learned something I want to share
I'm taking another course in addition to the success academy to teach me all the ins and outs of private lending (yes, I'm doing way too much, but as Dean says, knowledge is power, Action+ Knowledge = Results, right?) and something was said that I thought was very insightful.
Many times the type of investing we're trying to do doesn't fit our life goals! It may look good and awesome on the tv to do wholesaling, flips and rehabbing, but that may not be what fits your life goals. Maybe you aren't wanting to constantly market and needing to close on several deals a month. Maybe the buy and hold strategy would be better for you.
The point is to not only make goals for your business, but for your WHOLE life first. Then, see what your goals are and what you want to achieve in life and THEN figure out which direction you want to go in real estate. Many times the type of investments someone is pursuing doesn't really fit their life goals and it causes people to stall their success, no matter how they define success. I wanted to pass on this valuable information to those of you who may be experiencing this right now, and aren't quite sure why they haven't been able to do a deal yet.
So, here's what you need to do. And this is nothing new, ground breaking or earth shattering information. Its been said in thousands of books and repeated over and over in many places. But, you need to take action with it. WRITE OUT YOUR LIFE GOALS and BE DETAILED. Setting dates, times, when you want to do what. Have a plan for the next 6 months, the next year, the next 3 years, 5 years, 10 years and 20years. Know your destination before you get there.
Did you know that there was a study done on college graduates in the 1950s and they found that 3% of the graduates had set their goals in life. 20 years later they went back to the graduating class to see where everyone was in their lives and what direction their lives had been. OVERWHELMINGLY, the 3% that set goals were making more than the 97% other students, in fact so much so that their combined income was more than the entire 97% combined!
So, make your goals for all areas of your life
CAREER
BUSINESS
FINANCIAL
HEALTH
SPIRITUAL
RELATIONSHIPS AND FAMILY
FUN AND PLEASURE
PUBLIC SERVICE
EDUCATION AND KNOWLEDGE
for 6 months, 1 year, 5 years, 10 years and 20 years.
Then, take your top 3 goals and post them all over the place where you see them and look at them and read them everyday. This is a crucial 1st step to your success. Take that step and it will help you find direction in what you exactly want to do in your real estate investing.
I hope this helps others as much as it helped me. I wrote this up super quick, I don't have time to edit for errors or grammar, but I'm posting it anyhow.
Happy investing!
As a newbie its still wonderful to read posts such as these. It gives great insight encourgement, and inspiration to make REAL ESTATE INVESTING happen. I havent done any deals yet because i like to get as much knowledge as possible where i am able to tell someone what i plan to do step by step so that i fully understand it. I've been in Customer service and sales for years so i definetly know how to BS my way through things but with real estate i refused to do so. I want to feel confident enough with knowing what i am doing, becuase when i have confidence then i can really show my passion for Real Estate and helping people.
Although no deals yet i know i want to start with wholesales, after i build a strong enough buyers list and do several deals per month i then want to acquire a private partner so to say that will be my cash cow..hehehe i find the great properties he/she lends me the money then we split profits 50/50. I want to buy and hold, rent them out for postive cash flow, and build equity.
So Wholesales and Buy and hold is wany i want to accomplish before the market turns around. Fix and flip can be also done if i have a financial partner as well.
I want to concentrate right now on Probate properties, Less competition and really no one likes to do the legwork anymore and to me legwork= major returns. The less competion the better for me to master them. I will also be attending the E.D.G.E 2010 event so im sure ill learn more great hidden Gems.
It helped to write that out lol =-) thanks for the wonderful posts and god bless on your investing career
Hi Tammy, it is really important to hang on. I did my first deal after 1 year of trying my best to overcome the fear. I know I could not afford to enroll in the Academy but patience and hardwork paid me off in the long run.
Thank you for your post. Hope this will help everyone who have been strugling to make there first deal. I see myself as a Marathon Runner in this business. I run slow with endurance and stamina. Some could be a Sprinter, could run very fast and arrive to the finish line in just a short period of time. How about you guys? Blessings to all. LA
Everytime you repeat the words "I CAN DO IT" with conviction, you cancel or override your fear and increase your confidence. By repeating this affirmation over and over, you can eventually build your courage and confidence to the point where you are unafraid. -Brian Tracy-
and building up all my resources and knowledge, and actively looking for the deals at the same time to apply the knowledge I have and have learned.
I don't think its important how long it takes to do the first deal so long as you're focused on the end results. But many people get frustrated with it taking a while, and this is one of the first steps that I was missing. While I set I've set my financial goals and the results I want, I failed to have goals for my ENTIRE life.
So, I'm working on doing ALL my goals right now. I was thinking I should dabble in a little of all the techniques to find out what would work best for me, but I think doing all my goals will help me really narrow it down beforehand.
Gorgeous, with that attitude you will go far! Keep it up! And take your time soaking in all the knowledge, and then act on it and you'll be a millionaire in time.
Best to you all!
I agree tammy...Soaking up the knowledge is the best, and yourself and i will be millionaires in no time
I want to add also add daily goals, weekly goals and monthly goals. Set aside a 15 minute time period every night (or morning) to read over your goals.
With your goals, you will need to adjust and change them. When you are aiming for one thing; you'll fork into other areas and realize you need to adjust them and visit them often. As you get closer to defining your unique ability (realizing the things you love doing most and are best at and that you want to spend the majority of time doing; the $1000/hr items
) you will refine all of your goals.
Be the best YOU you can be!!! NEVER GIVE UP!
I really appreciated your post.
Joe
Think less, Do more, Get results. - Dean Graziosi
http://www.rcmfunding.com
http://www.StopForeclosureOptions.org
http://www.RichardsCapitalManagement.com
I appreciate the post and it's true to set the goals. For those stuck in the rut by not doing things or those who think they are stuck because the work load is "difficult"...we all may at times not like the hard trials..but going through them makes us tougher!
~NickandGen
~Blessed beyond measure and enjoying life to its fullest!~
I hadn't seen this one before! The dream board ties right into this too, so you can see in pictures just by walking by the goals and dreams you have set for yourself! Love it!
www.tw4homes.com website
https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.
It's worth resurrecting! There are so many older posts on DG.com that need to be resurfaced. I'm going to do it like I do everything else. One at a time.
Yes, it's true; for in order to reach a destination you have to have a path to where you're going.
Oh yes, the dreamboard is wonderful!
You can even do it online at www.digitaldreamboard.com.
Tammy after reading your post and for sometime now what I have been missing is concrete GOALS. Need to set them with the time period you have specified.
Even at the EDGE 2014 I saw in you a confident and vibrant personality and now I were all that is coming from.
You reviving the post is GOD sent and I and like many others will be Thanking you and blessing you wholeheartedly.
Thank You again and wish greater success in RE.
I am getting closure to my elusive first deal.
Bimal
Wish Everybody a great success in their Real Estate Business
Great post tammy. It is not about the money, or how you look, it is all about the life you really want and the people you can help. We all hit the point were you are right now sooner or later. Once you find what you are looking for you will change so much. I know I have over the last year.. God speed on your discovery
Not having a goal is worse than not setting one..
http://www.deangraziosi.com/real-estate-forums/investing-journals/92139/... -
http://www.deansmedia.com/play.php?vid=266
I made a dreamboard too!
www.tw4homes.com website
https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.