Goals are critical to winning as a real estate investor

Real estate investor, you have one important step to take that can help you win in business (just ask Harvard!): Setting clear and concise goals.

Goal setting is a frequently overlooked step in real estate investing, but it is actually quite simple and effective. Without goals as part of their business plan, a real estate investor could make bad decisions that could ultimately hurt their business.

Why should a real estate investor set clear goals?

Goals have a power that business leaders often praise. They keep a business on track and focused. Goals can have a big impact on long term results, short term success and how professional a real estate investor is seen among his peers, but also his potential partners and clients.

Real estate investing is a great business for a goal setter to be involved in, since it contains clear measurements of success as well as such exciting growth potential. As a real estate investor, goals can help you climb the letter from those first few properties to bigger and bigger deals.

“Obstacles are things a person sees when he takes his eyes off his goal,” Eli Cossman.

Does goal setting work for a real estate investor?

According to studies, yes! In 1953, researchers interviewed the graduating class of Harvard University about their career goals for the future. Only 3% had written goals and specific plans for achieving them! Imagine that! But 20 years later the researchers re-interviewed the class of ’53.

Here’s what happened: All students had a Harvard education to be sure, but the 3% with written plans for the future were worth more, in financial terms, than the other 97% combined! This shows the power of written goals.

Which specific goals should a real estate investor make?

When it comes to the real estate investor, there should be three main area of goal setting:

* Cash flow

* Capital growth

* Equity

When it comes to all of these goals is it vitally important for a real estate investor to make them specific (i.e., I want a cash flow of $X a month within the next 10 months). It is also important to write them down, share them with partners or staff and use them as a motivator. Many real estate investors create graphs about specific financial goals so they can track them visually at a glance.

Make decisions about your business with your goals in mind. Do the deals you make turn your goals into reality?

“If I’ve got correct goals, and if I keep pursuing them the best way I know how, everything else falls into line. If I do the right thing right, I’m going to succeed.” – Dan Dierdorf

About Kent Clothier

Kent Clothier is President and CEO of Real Estate Worldwide (REWW), a highly sought-after speaker, the owner of three multi-million dollar a year Internet marketed brands, and proud husband and father. Kent is motivated by his love of family and freedom, creating products that enable people to live their lives the way they choose.

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