Now that we’re well into October, it’s a good time to review where you are with your real estate investment plans for the year. When you look at all the goals you wrote down to accomplish this year, does your progress show that are you on track?
Or are you still waiting to implement your plans for the year? If you’re not on track with your goals for this year, why not?
That’s a question that demands an answer from you and I think I can help you with that one. All it requires is an objective look at your plans and yourself. A bit of brutal honesty is sometimes required for that second part…
First, take a good look at the objectives you’ve given yourself for the year. Are they realistic? Are they achievable from your starting point back in January? Are the steps you’re taking today moving you closer to your goals?
Running in place?
Or, are you simply running in place?
It’s going to be one or the other, isn’t it? You’re either on track or you’re not…
If you’re close to achieving your goals, well good on you then!
For example, if your objective this year was to buy a duplex and you’re now in a deal waiting to settle, fantastic! You’re on your way to achieving that goal. The steps you’ve taken were the right ones and you will accomplish what you set out to do.
But if your goals remain unmet and not nearly so, what’s going on? If you had planned to do an add-on or a granny flat to your PPR, where are you in that process? Have you gotten financing in place? Are the plans completed and approved by the local council? Is construction underway?
If none of these things have happened since last January, when you wrote your objectives for the year, then there’s a problem, isn’t there?
And if you’re being honest with yourself, chances are that you haven’t made progress in your goals for the year for a couple reasons…both of which have to do with you.
Are you really prepared to achieve your goals?
Most likely, you if you haven’t achieved at least some of your major goals this year, then you weren’t prepared to do so, were you? The truth is that many of you really aren’t prepared to achieve your goals if you’re being honest with yourselves.
That’s a bigger problem than some might realize and yet don’t feel too bad about it. The important thing is to see what the problem is and then you can fix it. And believe me, I happen to know exactly what that’s about!
It seems a bit laughable now, but what did I do when I decided to become a real estate investor? I spent months and months learning about this and that, researching different deals and opportunities, and all the rest. But even when I thought I was prepared to go into my first deal, it took several deals to fall through before I was really ready. After quite a few failures to launch, I finally made my first deal.
You see, it’s not enough to just intellectually ready with a bit of knowledge and some financing in place…
You have to really be confident in what you’re doing and why. You have to be emotionally ready to make that first deal. Your mind has to be centered, balanced, and I don’t mean that just figuratively…
Get your mind centered and put fear in its place
I mean that both your rational, intellectual part of your mind and your emotional part need to be in proper relation to each other.
Funny thing, the mind, but those two sides of our brains are not always on the same page, as they say. In fact, quite often, one side is running far ahead of the other!
And that is one of the reasons why I spend so much time traveling around the country and do so many iLoveRealEstate.tv Seminars and Boot Camps, because…
LACK OF PREPARATION IS THE BIGGEST CAUSE OF FAILURE!
Let me take this a bit further…there is often a huge difference between what our emotional selves want and what our intellectual selves are ready for…
It’s not about intelligence level or anything like that. But it is about preparing yourself, as well as your finances, for success. There are certain steps you take to prepare yourself emotionally as well as learning what you need to learn from a strictly real estate investing perspective.
Putting fear in its proper place is one of the biggies. If your thoughts are dominated by fear, then you will never be emotionally ready to take the big step into buying an investment property.
Surround yourself with like-minded people
Again, I know what that’s like. Fear and insecurity, or lack of confidence, are the biggest deal killers out there. The best way to put fear in its place is to surround yourself with people who have been there many times before, who can help you with the process and who will walk you through your first deal…
These are just the kind of people you find at iLoveRealEstate.tv Seminars and Boot Camps! You will find like-minded people who you can relate to, who are successful because they have made the transition from fear to confidence and are now accomplishing their goals. That emotional support can make a big difference in how quickly you start accomplishing your goals.
That’s why you have to take the steps necessary to educate yourself before you step into the real estate investing arena… both intellectually and emotionally.
Because it’s not that there’s no opportunity for you out there… You and I both know that there is an amazing amount of opportunity in the real estate market…
It’s about being ready to take advantage of the opportunity.
So prepare yourself for success. Join the iLoveRealEstate.tv community of investors, gain the knowledge you need, lose your fears and doubts and get yourself back on track!