Time To Figure Out What The Heck You Want Out Of Life…
… and how you’re going to get there.
Real estate investing is really only one small part of the overall picture in this thing we call life. Real estate isn’t the end all be all. If you make $10 million in real estate this year… that doesn’t mean that you’ll automatically be living a happy and fulfilled life… in fact… odds are that you’ll be downright miserable.
Most new investors see real estate as a way to become rich… which is a recipe for disaster. Rather, the approach we need to take as investors is to see real estate as a vehicle to help us live the lives we want to live.
Our lives include:
- Of course money and financial security
- Our family and friends
- Public service
- Fun and enjoyment
If we don’t have a good balance between all of these elements all of the money in the world won’t make you happy.
For instance, you just started a rehabbing business with dreams of becoming rich. After 7 months of busting your butt, your company has become one of the top rehabbers in your area and you guys are doing 5 houses a month with profits of $50,000 a month. The problem is, you’re spending 50 hours a week doing or thinking about your rehabbing business, your health is going downhill because you are concentrating on keeping your business going, and you don’t have time to take a vacation because you feel that if you leave the business it will “fall apart” while you’re gone.
Sounds fun huh? This can all be prevented if you figure out what you want out of life first (lifestyle, income, time off, etc.) then tailor your real estate investing business to specifically match that life plan. Instead, most people see an opportunity to make money in real estate, rush in and later figure out they aren’t as happy as they thought they would be… all because they chased dollar signs rather than their ideal life. Big difference.
Life Planning Resources and Steps
I’ve compiled some great resources, tools, and exercises that we’ve personally used in our own lives to create our life plans and see great success. What I’m sure you’ve found is that there are a ton of different methods to get this same job done… but not every method works the best for everyone. So go through all of the resources in the order they are below and get that life plan on paper.
Just a note. Some people are scared that a life plan has to be pages long for it to be any good. IT DOESN’T! The whole reason for a life plan is to put great thought into your life and what you want to do with it. It doesn’t matter if you use a sticky note… or a whole notepad… whatever it takes to get your true desire for your ideal life out of your head (and heart) and into the real world where you can then take the steps to achieve it.