This week, I kick off my month long All-Star Q&A Series. All month, I am going to be asking some of the most incredible real estate investors that I have interviewed over the past seven months questions that I commonly get from new real estate investors. This is going to be an incredibly powerful series and I am really excited to bring it to you. We are kicking off the series with the following question: how should a new real estate investor approach goal setting in their real estate investing business?
Today’s podcast features Sharon Vornholt. Sharon is an amazing real estate investor/wholesaler down in Kentucky. She is the creator of the Louisville Gals Real Estate Blog and the Real Estate Gal Podcast.
Sharon advises new real estate investors to set lofty goals, but also to make sure that they have a plan for executing their goals. Sharon talks about two types of goals – long-term and short-term. Both long-term and short-term goals need to have a plan of execution. In other words, if you plan on owning ten rentals free and clear, you have to not only come up with a plan for purchasing those ten rentals, but also plan for how you will pay them off. This might be achieved by buying a couple of rentals per year and using money from wholesaling or flipping to pay for them.
Sharon explains that achieving your goals takes much more than just writing them down on paper. You have to commit to them. You have to decide that you are going to accomplish your goals.
Sharon shares the four categories of business goals that she feels every real estate investor should concentrate on:
- Building your expert status
Sharon offers some incredible advice for goal setting. This is a mini course on how to set and achieve your goals.
You can find Sharon here: