If you want to achieve big goals in your real estate business, you will have to design a plan that will help you get there. Setting goals and understanding how and when you are going to execute them is the key to success. It is as simple as that.
That said, getting out the door and actually putting those goals into action will be impossible unless you understand your why. One of the first things you must do is determine why you want to be a real estate investor. If you know the why, you can figure out the how. If your why is not big enough, you probably will not do anything more than think about it.
You first must start by writing out your plan of attack. Realize that this plan will change day to day as you learn what you actually need to do by doing it. Your original conception of what your business looks like will change once you actually learn what works and what does not. Many of my students came in with one idea of what they were going to be doing, only to learn they were way off base. Flexibility and openness to learn is going to be a must here.
When writing out your plan don't be afraid to stretch yourself. You will never reach a million dollars a year if you only plan to buy one house. Don't worry about how many houses you are going to have to do to get there at first, that will come into focus as you learn what your average return is on different kinds of transactions, and how long it takes to sell the property. So don't be afraid to think big!
It will be very important that you stay in the positive when designing your plan. You need to move toward not away from your goals. Focus on what you need to do to make your plan work, and then go out and execute. Be conscious of how you phrase and define your goals. State your goals in the present first person, I am not I want. If you state it as I am, you will produce action and achieve what you have declared in your plan.
Make sure your goals are your goals and not what you think they should be. They must be what you truly want them to be. Don't let ideals or expectations of others creep into your planning. Your goals should be written from within, so look into your heart and find out what your inner ambition tells you. Don't be afraid to reach beyond your regular comfort zone. If you start to feel you are, that's ok. That only means you are going in the right direction. Getting outside of your comfort zone is important, as you remember the quote attributed to Albert Einstein, "Insanity is doing the same thing over and over again and expecting different results."
Last but not least, make sure your goals align with your core values. In my plan, I am not in the business of buying houses from people. I am in the business of helping people. By having built a business that supports that ideal, my students have been able to buy more houses helping people, then if they were just trying to buy houses. Your goals must align to your own values, standards and dreams. If they do not match your ethical beliefs it will be impossible to remain interested or involved in them.
Stay motivated by continually reading, watching and listening to motivational material. What you put in is what you will get out, so surround yourself with positive and inspirational people and material.
You wouldn't expect to become a doctor without training, so make sure you seek out the best tools you can financially afford. Reading books and articles on real estate investment is going to be a must. Keeping up to date on the changes in the market is going to be vital in negotiating deals with home owners and the bank. If think you can't afford a personal coach, wait until you lose a bundle trying to do it on your own. Having the right materials and tools to run any business is a must.
Now that you have a written plan and are ready to execute, go out and have some fun. Remember no business is worth doing unless it brings happiness to the soul.