It seems like everywhere you turn someone is talking about real estate. Whether at work, family function, sporting event or watching the news you can’t escape it. With so much information out there how do you take it all in? From the novice investor to the most sophisticated most of them will admit (whether they like to or not) that with all this information out there it is like trying to take a drink from a fire hose. There is much information available but only so much can be retained at one time.
With that being said there are ways to avoid dehydration and get the critical information you are looking for. If you are wondering how to get started in real estate the answer is sitting there right in front of you. Take action, NOW! I know that sounds so cliché but it is the best answer.
The first question you need to ask yourself is “WHY” do you want to get into real estate investing? Is it because everybody is doing it? Or your brother’s friends sister has been successful at it? Or you saw some late night tv show telling you could get rich over night? As you can see these are not logical reasons and unfortunately you must dig deep, like really deep and find out the true reason why.
Most people will say they want more free time, more money, less stress from their day job or a means of retirement one day. Now those are better reasons but they are still not detailed enough. When I say dig deep I want you to close your eyes and envision what that really means. Try to get down to the lowest level of detail, what type of lifestyle do you want? Is this a short term or long term goal? Who will be there with you? What car will be in your driveway? Where do you wish to travel? Who do you want to help out? What charity will you give to? You need to think of the exact dollar amount that will allow you do to these things. Why are you still reading? Close your eyes and give it a try.
Now that you have envisioned what life would be like you need to get it down on paper. A good start would be to picture your ideal life in five years from now. Remember you need to be very detailed. By going into this amount of detail it allows you to emotionally project yourself five years from today. Ultimately, we all make decisions based on emotions.
The power of visualization can be a powerful tool when trying to set your personal goals. We live in a very visual world and with the power of social media like Facebook, Instagram and Pinterest we can use these tools to our advantage. Start by setting up visual cues to help remind you EVERYDAY why you are getting into real estate investing. These cues will also help you from distractions that try to take you away from your goals. These visual aids don’t have to be massive beach homes and luxury cars. They can be pictures of family, friends, experiences, charities, or whatever else you visualize to help you stay on track and meet your goals.
As you continue to grow and develop as a real estate investor, you’ll notice your goals may begin to shift. As long as you stick with some sort of goal(s) you will begin to notice that what you thought were unattainable goals soon become reality.