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- beckynova24
"Where Do I Even Get Started?"
Whether you’re new to real estate investing or you’ve been doing it for some time…
There’s one thing that will keep you stuck more than anything else.
What is it?
Overwhelm.
… not knowing what to do next.
… not knowing what’s a good deal and what’s a bad deal.
… not knowing where to get money to invest.
So how do you overcome feeling this way?
One word:
Clarity.
You must get clear on what your next steps are.
And there are three steps to do that.
Step one: Get clear on what you want.
Why do you want to own rental properties?
Do you want to be able to travel the world whenever you want?
Do you want to become a millionaire investor?
Or maybe you want to spend more time with your family and friends.
For me?
My goal is to own the least amount of doors for the most amount of money.
Your goals might be different.
But whatever it is, you must get clear on what success looks like for you.
Then, you can move into step 2.
Step two: The strategy.
Once you know what you want, you can figure out what strategy will allow you to get there.
For example: To reach my goals, I don’t want to acquire a ton of properties.
I want location independence, financial freedom, and the time to do what I love.
In the future, it might change.
But for now, that’s not what I want to do.
And the same is true for you.
Right now, your goal is one thing.
And in the future, it might change.
But figure out what strategy will help you create the lifestyle you want.
And then stick to that strategy.
Step 3: Think about your criteria.
There are literally hundreds of cities and towns and different ways you can invest.
And it can be hard to decide what option to choose.
But since you know what success means to you.
And what strategy fits your lifestyle.
Now you can evaluate what your portfolio can look like.
For example, if you want to bring in $500 per door per month…
Then you have to figure out what market will allow you to do that.
And if you work backward, you can narrow down the criteria…
The amount of money you’ll need…
And what deals you’re looking for.
Then, once you’re able to sift through those different opportunities…
You’ll be able to make a decision and either purchase your first property or your next property.
So there you have it.
That’s how you crush overwhelm and start taking action!
