Are You Motivated to Achieve Your Real Estate Investment Goals?
7 Steps to Help Guide You to Success
To achieve any great success in this world you need goals. Real estate investment goals are no different. Whether you want to partner on your first deal, or close on your 100th, goals will help you get there.
“Goals are the fuel in the furnace of achievement.” Brian Tracy
To achieve your real estate investment goals, you need a plan.
“If you don’t know where you are going, you’ll end up someplace else.” Yogi Bera
I am a sucker for a great motivational quote. I have been writing a quote on my white board once a week for the last 8 years. I read it daily to help kick start my day with a positive thought. We can all use a little inspiration now and then. So, I thought it would be fun to do an article where all the steps are explained with motivational quotes.
Your goals can take many forms including professional, personal (i.e. self-improvement), or financial. When it comes to financial goals, money means different things to different people. For some it could mean financial freedom and for others it could be security or the means to enjoy a certain standard of living. Whatever your financial goals are, you’ll need to create a road map that will help guide you to the finish line.
Marc and I are not financial expert so it’s always important to consult your professional advisers about your financial goals.
7 Key Steps to Achieve your Real Estate Investment Goals
Today I want to cover 7 simple steps to help guide you towards financial success. If you are learning how to invest in real estate, these are great tips for you to follow.
- Identify your goals
“A goal is only a goal when you know you’re going to achieve it, otherwise, it’s a dream.” Author Unknown
What are your goals? Retire 10 years early? Buy a boat? Take a trip around the world? Learn how to invest in Real Estate? The sky’s the limit!! Whatever they are, your goals must be quantifiable. They need to be measurable so you know you have achieved them.
- Write them down
“Written goals have a way of transforming wishes into wants; cant’s into cans; dreams into plans; and plans into reality. Don’t just think it – ink it!” Author Unknown
I think that sums it up perfectly!! Your goals will more likely become a reality when you write them down…repeatedly.
- Prioritize your goals.
“The key is not to prioritize what’s on your schedule, but to schedule your priorities.” Steven Covey
You will most likely have short, medium, and long term goals, or a combination of any or any of those. Divide your goals into these categories and rank them in importance and priority. This will help you determine which ones you should focus on first. For anyone learning how to invest in real estate you will see there are many moving parts with real estate. Prioritizing your schedule will help keep you on track and working on the right steps at the right time.
- Set a time horizon
“A goal is a dream with a deadline”. Napoleon Hill
Establish a timeline for you to realistically achieve each goal. Your time horizon will affect the amount of risk you may have to take on to achieve your goal, can determine which investing strategy you employ. This is another important reason to consult your professional advisers.
- Assess your current financial situation
“Your net worth to the world is usually determined by what remains after your bad habits are subtracted from your good habits”. Benjamin Franklin
Look at your current financial situation to see where you are now. Figure out your net worth and determine where you need to go from there to meet your objectives. Eliminating your bad money habits will help you build wealth.
- Create a spending and savings plan
“If you know how to spend less than you get, you have the philosopher’s stone”. Benjamin Franklin
Determine how much you need to save to reach each goal. Work with your advisers on how best to pay down your existing debt. I shouldn’t have to tell you that your savings need to be greater than your expenses!
- Manage your goals.” T. Harv Eker
Keep yourself motivated to achieve your goals by revisiting your list frequently to check on your progress. You will probably have set backs, and over time your goals may change. That’s OK, you just re-adjust. Regardless of what your goals are, if you want to achieve them, you need to have a plan to be successful!
Get motivated to achieve your real estate investment goals so you can work towards financial freedom. If you want to find out more about how becoming a private lender can help you attain those goals, get in touch with us. We have a great private lending program that might interest you.
Remember, real estate doesn’t have to be complicated.
With Simple Acquisitions it’s smart and simple!