Take daily actions and you won’t have to start with the assumption that you already have your plan, your freedom number, and you have worked on your goals and your why and your how?
The next step is to Budget your Time, and activities you will be doing
Budget Your Time
One of your greatest assets in our disposal is time, but most people do not make the best of use of it. And once time is gone, you can never get it back.
Budgeting time is not the same thing as scheduling time.
The schedule tells you when and how you will use your time, while a time budget causes you to evaluate the use of your time
We all have 168 hours each week. This is the maximum time you can budget every week.
You need to decide how many hours a week, you will be working on real estate, then schedule when and what activities you will be doing
Create a Daily Action Plan
To be able to succeed in real estate and in any other task you set out to do, your daily actions are the ones who will separate you from the rest
As an example, Lets say that you decided to lose weight and your budgeted 3 hours a week. You schedule going to the gym 30 minutes a day for 6 days a week.
When you go and exercise the first day for 30 minutes, do you expect to have lose a ton of weight?
Of course not, what about if you go for a week, maybe not, but after a month of going 6 times a week, you start seeing some results.
Those results will compound over time and you start seeing a big difference.
In a year you can definitely be at your ideal weight or close to it.
The same time happens in real estate. Every decision you made matters, it’s a one thing to make a decision today to be a millionaire real estate investor, and another one is to get up and made the same decision again the following day, over and over until you reach your goals.
Real estate in theory is simple but it will require dedication to attend networking events, analyze and evaluate properties, send offers, talking to sellers, visiting properties, negotiate contracts, open escrow, and buying or assigning the property.
Then, you have to do it all over and over again until you reach your goal.
you have to review goals on a daily basis, so you can remind yourself why you are doing it, because otherwise, you will quit in a few weeks or months.
It takes the same amount of effort going to the gym for 30 minutes, than not going to the gym. The only difference is that one will take you closer to your goal and the other one not.
The same thing is with real estate investing.
Knowing your Freedom Number is extremely important so you know when to stop or slow down in your investments
The more consistent you are, the more results you will get, and the faster you will be in reaching your goal
There are no exemptions, or shortcuts to creating wealth. It takes time and consistency.
How to Take Daily Actions
I believe your daily actions should be dedicated in the following tasks
- Learning and Focus 100% on one real estate strategy and become great at it. This could be wholesaling, flipping houses, buying rental properties, lease options, creating and buying notes, multifamily or any other commercial real estate asset. Take daily steps in becoming a master at one of those strategies, before branching out to another one
- Learn How to Find leads or marketing for properties.
- Learn How to analyze properties
- Talking to sellers
- Negotiating with sellers
- Presenting offers
- Networking with investors, realtors, lenders, title companies, inspectors, appraisers, property managers, etc.
If you can master these tasks over time you will be a real estate machine and it will become second nature.
The starting part is the hardest, but once you get moving nobody can stop you
There is something magical that happens when you take action. It allows you to think, to discover new ideas, to see results and to feel you are making progress
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