Activity breeds activity and activity breeds success. As a real estate investor you have to be ACTIVE, you must be taking action, you must be aggressively chasing after deals, chasing after financing, shaking hands and meeting people. If you find yourself casually looking around on the internet and driving around once in a while looking for deals you should rethink your strategy. One way to keep yourself active and motivated is through simple goal setting. Set specific, actionable and measurable goals. Have a weekly goal set for how many phone calls you are going to make (to agents, lenders, property owners, etc) how many properties you are going to look at, and how many offers you are going to make. Set these goals and hold yourself accountable. I’m not going to set your goals for you, but my recommendation is to make at least 20 calls, look at five properties and make one offer each week.
Posted by Carter Brown
I do agree, ACTIVE you must be as a real estate investor. One thing I tell my newer investors is that if you want to eventually supercede your income from your primary jobs and make your real estate income be your primary income, that you must treat this like a job….First determine how many hours in a week that you are going designate to work your real estate job, Second, narrow it down to which hours of which days you are going to work, Third, create a schedule and post it on your home office door and anywhere else that members of your family can see it to keep you on task.
Now, after you have created your schedule for your real estate career is the most important part of all…..CONSISTENCY, CONSISTENY, CONSISTENCY !!! You must be honest with yourself about keeping your schedule, we are not going to call you every day to make sure that you are at your job working. How bad do you want it? I once heard a comment from my real estate broker and it goes as such “Successful people do the same thing at the same time every day,” this totally shouts out the word SCHEDULE, SCHEDULE, SCHEDULE.
If you do what Mr. Brown suggests in making goals of how many people to talk to each day…you will get to a point where you can track how much income you are going to make based upon the number of people that you are coming in contact with and how many contacts it takes to make a deal. It becomes a numbers game so…..this means the more people that you talk to on a daily basis the more money you will make. This goes right along the lines with the quote I heard ” Our network will eventually equal our networth.” TALK, TALK, TALK !!!