Setting your goals for 2006
What about those of you brand new to real estate investing? How do you guys and gals set your goals? I will give you the goals I started with and maybe they will help you form your own. When I first started in real estate, I took my goals to the lowest granularity possible. On a daily basis, I hear people with monetary or property goals that never get accomplished. I think for most, their goals need to be broken down into more manageable chunks. For example: Instead of “I want to make $100,000 next year”, research what it will take to meet that goal. As a mortgage broker, I know that 5 loans a month will almost guarantee that income.
However, that is just not simple enough. How do you get 5 loans a month? Telling as many people as you can that you do mortgages would certainly help. When I began in financing, my initial goal was to talk to at least one person about mortgages every single place I went. Gas stations, restaurants, Easter egg hunts, book stores and bars were all places where I forced myself to talk to people about mortgages. This is a very easy-to-manage goal and it certainly helped me in meeting my other goals. It is not that different to take basic goals and apply them to investing.
When I began investing, one of my goals was to talk about real estate to at least 5 people a day during the week and 30 people a day both Saturday and Sunday. That is 85 people a week. Who were these people? “For sale by owners”, realtors, mortgage brokers, landlords, bankers, investors and buyers were the people I spoke to every week. Folks, it is so true what everyone says, “Real Estate is a numbers’ game”; if you talk to enough people, then you will find deals and gain knowledge! Lao-tzu said: “The journey of a thousand miles begins with a single step.” Attack and achieve those New Years’ resolutions by having easy to manage goals and you will certainly have a profitable journey in 2006. Happy Investing Ray Higdon
However, that is just not simple enough. How do you get 5 loans a month? Telling as many people as you can that you do mortgages would certainly help. When I began in financing, my initial goal was to talk to at least one person about mortgages every single place I went. Gas stations, restaurants, Easter egg hunts, book stores and bars were all places where I forced myself to talk to people about mortgages. This is a very easy-to-manage goal and it certainly helped me in meeting my other goals. It is not that different to take basic goals and apply them to investing.
When I began investing, one of my goals was to talk about real estate to at least 5 people a day during the week and 30 people a day both Saturday and Sunday. That is 85 people a week. Who were these people? “For sale by owners”, realtors, mortgage brokers, landlords, bankers, investors and buyers were the people I spoke to every week. Folks, it is so true what everyone says, “Real Estate is a numbers’ game”; if you talk to enough people, then you will find deals and gain knowledge! Lao-tzu said: “The journey of a thousand miles begins with a single step.” Attack and achieve those New Years’ resolutions by having easy to manage goals and you will certainly have a profitable journey in 2006. Happy Investing Ray Higdon
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