Getting Started in Real Estate Investing – Tip 2: Setting Goals

Tip 2: Setting Goals


Having goals is one of the most important aspects of achieving what you want in life. You don’t want to have your goals up in your head you want to write them down and past what you have written on the wall somewhere or in the bathroom mirror. You want to review your goals daily and read them out loud to yourself. This way you remind yourself everyday why you are building your business.


How should you start to write down your goals? First, off you should think big, and by big I mean HUGE. If your goals are too small you will easily achieve them and have nothing else to look forward to. You should start off by asking yourself the question if I had all the money and time in the world what would I do, what would I buy, how would I spend my time, and how would I spend my energy. Are you starting to write these down? Well, you should be. Think about what you want, spending time with family, travelling the world, the best cars, a castle, owning a small country, running for president, or having the biggest real estate investing business in your area or in the country. Whatever your dreams and what you want out of your life, write it down. Some of my goals are becoming free, travelling the world, having a Ferrari, and having 10 vacation homes all over the world. Right now I am just trying to get you out of your comfort zone of thinking and let your imagination run.


There are several ways to set goals. I have learned a lot of ways you can set you goals and there is no right or wrong way. The best way that I have found to set your goals is to break them up into two categories. First your short-term goals. These should be goals from a month out to around a year. The second is your long-term goals these goals are you think big goals and what you see for your future.


For year one I like to first make a list of what I want to achieve this year and I will give you an example of how to do that. For year one you want to be very specific first you want to list what you want your income to be at the end of the year, and next how much cash in the bank you want (this is money in your checking account, not assets). Next, you want to list how much you are going to give. Giving is very important, this can be giving to charity, giving of gifts to friends and family, giving to your school or anything you can dream of. As long as what you give brings joy to others who need it more than you. Next list what bad habits you have that you want to eliminate. Weather is quitting smoking, spending too much on junk, drinking too much, working too much, not spending enough time with family, too much TV, not exercising and many more. We all have bad habits that need to be changed in order for us to grow as human beings. Under each of these bad habits list out some steps that you can take in order to quit them. If your bad habit is being lazy and not exercising enough what can you do to change that. Well, you can get a gym membership or homework out program. Commit yourself you following through with a plan to work out 3-5 days a week. For you to change these bad habits you have to be totally committed and follow through with a detailed plan you set for yourself. After you have your plans in place you should start listing several things you want to achieve or do in the next year. This can be starting a successful business, spending time with family, travelling to 2-5 places and so on. Now under each of these, you should also write a detailed plan on what you need and what you need to do in order to achieve these goals. Finally, you should take all of this information you have a write-on page on what you see your life being over the next year. Doing this is a great exercise to really see what you want out of life.


Goals Year One


This is what I am going To Do This Year

Income: $500,000

Cash: $100,000

Give: $20,000


Bad Habits that will be changed:


Over Sleeping

1. Go to bed at 11 p.m.

2. Use a timer and set it for 8 hours

3. Set the timer on the other side of the room


Buying things that you don’t need:

1. Going out shopping less

2. If you have the urge to buy something think to yourself is thing item going to help me to achieve my goals of becoming financially free?

3. Tell friends what you are doing, so they can help to stop you.


What I want to Achieve:


Start a successful Real Estate Investing Business: (you should write a detailed step-by-step plan of everything you need in order to achieve your goal)


Travel: Where do I want to visit? 1. Gators football game (what I need to do it, money, etc)


And last your own page about what you want to achieve using words like I will and only positive words.


For long-term goals you don’t need to be as specific right now, but you should list them and under them list a few steps or smaller goals that need to be achieved before you are able to achieve them. With long-term goals always think big. Another good exercise for long-term goals is to make a collage of your goals. Put pictures of the house you want on it, places you want to travel to, a picture of your family, a number of what income you want in or anything you can think of.


A sidenote:

This article is just the basics for getting started in real estate investing. This is not a how-to article but an article that gives you some information about things to do to get started. Everything in this article is tools that can be applied to helping anyone get started in real estate investing. I am going to give you my eight keys to getting started. Nothing is right or wrong but reflects the point of view of the author. Laws and legal practices vary from state to state, and laws can change over time. The author does not vouch for the legality of his opinions, nor is there any intent to supply legal advice. The author strongly encourages the reader to consult with professionals and an attorney prior to entering in any real estate transaction or contract. The author is not a writer but he is a real estate investor. There will be grammar mistakes and errors, so don’t be too critical of the grammar but focus your energy on what is being said. With that said prepare yourself to think a little differently and expand your mind. Let’s get started on an amazing adventure.

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