Regardless of what your specific goal or resolution is for the next year, it’s most likely centered on doing better.
Maybe you want to make more money or grow your business.
Maybe you want to spend more time with family and leave your full-time job (and become a full-time real estate investor).
It’s important for us to reflect on the previous year so we know what needs to be changed in our lives. We want to be the best version of ourselves.
The problem with New Year’s Resolutions is that most people fail within the first month of the New Year.
“I’ll go to the gym 3 times a week.” (Might last a few weeks)
“I’ll start eating healthy.” (When you see everyone else ordering a burger and fries, are you going to deny yourself?)
I’ll save more money. (Except for when we go out to dinner 4 times this week)
Most resolutions aren’t planned out and we’re setting ourselves up for failure.
So, what can we do about it?
For starters, think about your “why”.
Why do you want the change?
For this article, we’ll use the example of becoming an active real estate investor (and doing at least 1 deal this year).
Ask yourself why you want to become a real estate investor?
- Do you want financial freedom?
- Do you want to spend more time with your family?
- Do you want to be your own boss?
- Do you want to set yourself up for a comfortable retirement?
Your “why” will keep you strong when you want to give up. Starting something new isn’t easy and there will be times where you question if you can do it. It’s those times that your “why” is most critical.
It will help you not give up. Remembering the reason you’re doing this will help you push through the hard times in order to get to the good times ahead.
After you determine your why, think about what you need to know in order to get started.
- What do you know about real estate investing?
- What do you need to learn?
- How can I learn more?
- At what point will I feel comfortable doing my first deal?
Even after you get a deal under your belt, it’s important to continue learning more about the business. There are always new strategies and tools to help you become more efficient and more successful.
If you’d like to learn more about the Investor Machine, our 90-day mentoring/coaching program, click HERE.
All successful real estate investors are constantly learning. They’re finding new ways to market, they’re learning how to expand their business, and overall, how to be a better real estate investor.
For a lot of real estate investors, they’re part of a group, or mastermind. It’s a group of like-minded real estate investors who support and learn from each other. You will never be able to learn everything you need to know from your experience alone and that’s where your group comes in handy.
You can lean on them when you need guidance and they can push you to be your best. These mastermind’s vary in price and levels of expertise but they can be a valuable source in your success.
Once you have a good understanding of real estate investing, it’s time to take action! Put your knowledge to work. While the first deal can seem intimidating, create a plan that’s overly detail oriented so that you have a path to follow. You know what to do and if you run into issues, lean onto your mentor or real estate investor friends for guidance.
For your plan, think of every small task that you need to accomplish in order to find the deal and close the deal. Think about the beginning of the process, from finding the deal to providing an offer to fixing the house up (if needed) to finding a buyer to closing.
Not only will this help you stay on track, but it will also give you small milestones to strive for.
Set Yourself Up For Success
Plan it out!
Know your why. Figure out the how. And don’t give up.
“Many of life’s failures are people who did not realize how close they were to success when they gave up.” ~Thomas A. Edison
Consider how you want to better yourself over the next year and make a plan for how to accomplish that goal. Push through the uncertainty and allow yourself to succeed.
Believe in yourself.
Believe in your strength.
Believe in your goals.