Today we’re going to talk about business goals, or business minimums as I said on Monday. This episode is really geared toward the beginning investor, but I think you’ll find some interesting things to think about even if you’re more experienced. I often ask beginners: what do you want to be when you grow up?
A lot of people out there treat real estate as a hobby, not a business. I was guilty of this for a while. But if the answer to that question is “I want to be a real estate investor,” you need to know why. If it’s just because you want to make a lot of money, it will be hard to sustain the enthusiasm for that. Money only motivates you to a certain extent, and only for a short amount of time. Now, if money will bring you freedom, or allow you to spend more time with your family, or allow you to donate to a charity you believe in, those things will keep you motivated and drive you for a long, long time. Think about that when you’re thinking about this business.
Once you have your why, and you know that you want to be a real estate investor, you need to a plan to get there. The easiest and fastest way to get where you want to go is to find a guide. You need someone to show you the way. Where do you find a guide? Network, network, network. Get out there and meet people. Tell them what you want to do. Tell them what your driving “why” is. Where do you network? If you’ve been listening to this podcast, you probably have a good idea. Go to your local real estate investing meetings. Go listen to the speakers they bring, but also to network with people in the industry. Talk to friends and family. You never know who has a connection. Network in other professional or social groups. Network online; you can join Facebook groups for investors in your area. Join local real estate masterminds. You could find them on meetup.com, or start your own.
Here is the key to being an incredibly successful real estate investor: MASSIVE ACTION.
Write those words down and put them somewhere where you’ll see them every day. Go out there and take massive, consistent action and you will find success. Take massive action, and then keep taking massive action. So get out there and get started!