For many working Americans, success, the ability to live life the way you want, can seem like something far removed from the daily work routine. But the ability to maintain your current standard of living without a job IS possible. It’s called financial freedom and it’s totally up to you. This article will provide you with a helpful roadmap for reaching your real estate income goals.
What is the difference between a common salaryman and a first generation real estate millionaire? Why do some people “go big” while others only dream of success? More often than not, “dreamers” fail in their attempts at success due to a combination of poor planning, lack of knowledge, and failure to follow through on a plan.
Dreamers are like novice hikers trying to reach the top of a distant mountain. Although they can see the peak high above the trees, they turn and get lost trying to reach the top. Unfortunately, most dreamers give up quickly. Once upon a time there was a dreamer, but I found a way to get to the top of my mountain.
I’m not smarter or better than the average person, I just had a map. My roadmap to success was drawn through trial and terror by my father, a keen real estate developer. His roadmap to success consists of three parts: 1) Visualization, 2) Affirmation, and 3) Actualization.
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The first part of the map is called the visualization. Define in your mind and then on paper what success means to you. Are you working for a $100,000 income, a bigger house, college tuition? Is your idea of success maintaining your current lifestyle and income level, but without a job? If so, list your current income as Financial Goal 1 (write it down). Feel free to add post goals, for example:
Financial Goal 1-Replace my salary with real estate income in 12 months
Financial Goal 2: Create a cash cushion of $50,000 in 18 months
Financial Goal 3-Increase revenue by 50% in 24 months
Affirmation
The first part of the map was to set a destination. Now you must prepare for your journey by affirming a successful attitude. Your path to wealth will be littered with obstacles, and to reach your destination you must resolve within yourself that success is the only acceptable outcome. Do not be naive, the attitude is difficult to adjust and change is only possible if you believe in yourself. Financial freedom is entirely up to you.
My students at Investors United School of Real Estate include stockbrokers, doctors, programmers, business owners, as well as low-income people like Thurman, a laid-off baker with four children to feed, or Justin, an unemployed 23-year-old. old man with bills to pay. Many people would say that people with little cash are at a disadvantage, but last month Thurman made over $40,000 and Justin made $32,000. Why? These students needed the money so badly that they were forced to believe in success.
Do you believe that success is possible? Also, do you think you’ll make it? There is no room for doubt. Tell yourself: “I am going to change my life. I am capable of great things. I can, I can, I WILL!” Clear your mind of bills, clear your mind of negative people and negative influences. Raise the anchor and believe in your ability. You can do it.
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In the previous two steps, you conceived a goal and then affirmed that reaching it is possible. Step three requires action. Take out a sheet of paper and ask yourself:
What information do I need to achieve my real estate goals?
Who are the people or groups I need to work with?
What are the obstacles between me and where I want to be?
Your answers to these questions will form a path of action to reach your financial goals. Will you make calls to real estate owners? Search court records? Contact owners in reversal? Wait for auctions? Will you educate yourself? Looking for a mentor?
When your written action plan is complete, make it a part of your daily life. Success is the result of successful clothing. We all have the same 24 hours; take the opportunity to replace bad habits with successful ones. Every moment is an opportunity to make a difference. Turn off the TV, eliminate frivolous gossip. Allow 15 minutes to an hour to progress. When your time is up, stop. A little effort goes a long way.
Your successful habits are based on priorities, the hallmark of a successful lifestyle. A friend recently asked me when I plan to replace my old Jeep. “Would spending $2,500 on repairs or $30,000 on a new Jeep be more frugal?” I questioned According to the best-selling study of America’s millionaires, The Millionaire Next Door, most millionaires believe that financial independence is more important than displaying high social status. Live below your means.
To stay motivated, many successful people admit to using a simple technique. They write their goals on three pieces of paper: one for their purse or wallet, one for the bathroom mirror, and one for their desk or workspace. I have found this little trick to be an extremely effective reminder to take action.
The difference between dreamers and successful people is the system of visualization, affirmation and actualization. Tried and powerful, these steps are a blueprint for success in any endeavor. Passed down from my father, I used the map to control over four million dollars worth of real estate before my 23rd birthday! Using the same map, many of my students create tens of thousands of dollars (or more) each month.
Take the opportunity and apply what you have learned here. Even if your goal seems far, far away, use your new map to conquer your mental mountain and summit success! After his final descent of Mount Everest, a climber was asked how he was able to scale the highest mountain in the world. To which he replied, “one step at a time.”
