I will be reading a book shortly that everyone have been discussing “Start With Why” by Simon Sinek. This brought me to ask you this simple question; Have You Asked Yourself Why Real Estate?
Let’s start there, if you do not know why you want to become a real estate investor then you will need to sit down and ponder on this for a while. I am an avid reader and I’m trying to do so even more. I remember in “7 Habits of Highly Effective People” by Steven Covey habit #2 is begin with the end in mind. This is essential to get a the purpose behind doing something.
When I ask this question; why real estate I often hear because most millionaires are made through real estate. This happen to be true along with oil however what most do not know is there’s always a purpose. Becoming a millionaire is not a purpose, its a desire. Let’s take a moment to help you work toward defining your purpose.
Defining Your Real Estate Why
So let’s ignore the desire to be a millionaire for a brief moment and I promise we will get back to that. So you want to be a real estate investor why? Becoming a real estate investor is a great opportunity to work with people and build great relationships, but there are many challenges as well. If you do not have your reason why you want to start this journey you will not be on it very long.
Some people want to becoming a real estate investor for passive income so they can retire early, some may want to fix and flip houses to start a legitimate business. My purpose for being a real estate investor is to leave a legacy for my children to build upon, and to help unfortunate teens. As you begin this journey you will begin to see how effective real estate can be to help secure a future for yourself and others.
Ask yourself if money was not an obstacle what would you like to do that would enrich someone’s life. Purpose is often defined by your internal need to help. It can not be simply be about me, myself, and I. It is advantageous to work the law of reciprocity.
Simply define your why by asking yourself; what would you do to contribute to society if money was not an obstacle.
Work Toward Your Purpose
I must admit I am a bit of a dreamer, but I am much bigger planner. In order to work towards your purpose of becoming a real estate investor you have to outline a plan.
I know in the beginning it’s easy to get caught up in the hype of do 1,2,3 and x,y,z and you will make $5000 in 30 days. Is this possible yes, it’s very possible but what happens after you make the fast money and you do not make any more money for 9 months. This is not explained in the guru courses for $997. You have to work towards your purpose and often times its a slow and steady pace.
I have to admit this was challenging for me. I am a very ambitious person and I believe anything is possible with sweat equity. The difficult part was going through periods when you are working but you are not seeing any reward for your work. I call this the sowing season. When a farmer plants a field he does not watch the field every day and if nothing is produced he start over. No he has to wait 3 seasons for a harvest. Many times people are not willing to go through the changing seasons to wait for their harvest. Again this was difficult for me, because I am a doer so if I’m not doing something I feel unproductive. I had to set my emotions aside and understand, just because I am busy does it mean I am productively working towards my purpose. Often times this is not the case, we are just busy to feel as though we are getting something done.
I had to settle my ambition by outlining my days I had to complete my daily disciplines first. This was starting my morning with prayer and meditation, next I would review my to do list for the day and put first things first. Next I would check and respond to emails periodically, and then respond to things accordingly that need to be handled. This process help me settle my mind and spirit.
Perseverance Through Challenges
Remember that arbitrary number of a million dollars, lets discuss this finally. Money, money, money everyone wants it but when they have do not know what to do with it. The reason why most people do not have money is because they have no idea what to do with it. I’m sure your saying to yourself I sure know what to do with it, but do you really know. I’m sure you heard about people hitting the lottery and winning millions of dollars only to file bankrupt a few years later, sure you have. This is a great example of having money and not knowing what to do with it.
The reason why a million dollars is not a purpose for being a real estate investor is simple; during challenges money is not a driving factor. You may be asking yourself; what does he mean? When you face times when you want to give up, you do not say I have to keep going because I want a million dollars. No you may say I have to keep going because I need to pay for my kids college tuition, or I need to make sure I can afford a senior living place for mom. Money have to be tied to more spiritual animate object and not the currency itself.
Begin with the end in mind. You need to identify your purpose and make sure everything you work towards is to reach the end goal. During times of perseverance keep and visual your end and it will begin to materialize.
Its interesting to know the reason why some investors get started, if you don’t mind please share your vision of what your end looks like.