How to Avoid the FIRST Mistake Investors Make
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Think back to when you were 10 years younger. How was your life different? Did you act differently? Were different things important to you?
Well, I hope so!
Being human means that we are always evolving. And that is a great thing! I wouldn't want to be the exact same person I was a decade ago because that means I would not have grown during that time. I want to be looking forward to the next challenge and the next set of goals that I can crush! And I hope that you are too!
For me currently, that means diversification. Now that I have built a solid portfolio of multifamily properties, my goals have changed which means that I need to adapt to what best fits my goals, my lifestyle now. I'll be sharing more about what I am working on soon on my IG here, but enough about me. I want us to focus on you right now. 😉
Are you using the REI Strategy that fits your goals?
Often, I see our members are misaligned. They are chasing another member's success that has nothing to do with what they actually want in their life and that leads us down a dangerous road. It leads us to burn out and general unhappiness when our actions and our dreams are out of alignment. If you have ever NOT wanted to do something, this is most likely the reason why you didn't.
So don't let this happen on your Real Estate Investing Journey!
Here are 3 steps on how you can be assured your REI Goals match your Strategy:
1. Get Clear on your End Goal.
There are so many ways to invest- the Stock Market, Crypto, Gold, Brokerage accounts, and the list goes on and on. But here you are, reading a blog about Real Estate Investing. But why? What drew you to REI over the other options? You might be using multiple avenues that I listed, but think specifically about what brought you here. Is it time freedom you are after? Is it the tax benefits you are seeking? Or are you looking for monthly cash flow to supplement your income? Once you know why this is all important to you, the rest just gets easier from there.
2. Learn your Strategies.
I was just speaking to a mentee of mine before I wrote this blog post. She was concerned that her income would limit her ability to invest. She felt like she would never be able to own her own rental property because it would take her so long to save. I reminded her that REI has points of entry for everyone! What I love about this biz is that no matter your situation, there is always a way for you to buy property! But, the way you get that property may be different than the route someone else takes. Having that foundation education is key to success so you can be sure to be knowledge in all of your options. And then you have the power to confidently pick your path forward! Need Foundational Education? Check out our On Demand Training options here.
3. Pick the Strategy that best matches your End Goal!
Once you know why this is important to AND you know the Strategies available to you, the fun begins! This is where you need to make sure they are compatible. If this is out of whack, it will significantly decrease your chances of being successful. I feel like this is why many women quit REI or never get that first property they had been hoping for. Think for a second about something that you have recently accomplished. Was it something you enjoyed? If so, that's because you were in alignment! It made it much easier and much more fun, didn't it? Was it something you hated every minute until the task was over? Then, it's time to make a change and get back on track! Don't go through that again!
Need help making sure you are in alignment? Book a call with me here and let's chat!