I know it isn’t Sunday and it hasn’t been a week since I wrote my last post but I was inspired to do more this morning. As I sit on an airplane bound for San Diego, I’ve finished writing all my follow up emails, I wrote the scope of work for the foreclosure house (which was in a disastrous state when I saw it this morning, more on that Sunday), and I still have another 2 hours on the plane. So, I figured I would maximize the time that I have and get MORE accomplished. That is the biggest thing that keeps me focused and drives me to do more, with a full time job and a young son at home, I need to maximize my productivity any chance I get. The key for me is to do more with less, and the Navy has helped me with that along the way because we are always doing it. Instead of playing games on my phone, sleeping, drinking Rum and Cokes (although that sounds pretty good), I choose to work. This will pay off in spades over the next few years and I know that we can all get more accomplished in a day if we just find a way to maximize our productivity and stay motivated. Me included!
Ok, back to the purpose of this post. This morning I had a phone conference with 4 other active real estate investors around a few different markets. This was the first meeting of a monthly mastermind group that was setup by a good friend of mine, Beka. Hopefully Beka doesn’t mind me sharing her name so I’ll keep it to her first name just in case. Beka was my roommate in Pensacola when we were first in flight school and has been flipping houses for the last few years. She started writing a blog not too long ago and real estate investing reconnected us. She has been doing very well and I truly enjoy reading about what she is doing on her blog. If you want to check it out, here it is. A few months ago, we spoke on the phone for about an hour and it was great. I think we both got a lot out of the call and it made me realize that I need to surround myself with people who are doing what I am doing to bounce ideas off of. Better than that, to keep me accountable! And bigger than that, I want to surround myself with people who are doing more than me, A LOT more. I am constantly reading books on real estate investing, business, or marketing, listening to podcasts, networking with other investor, etc… We have to keep learning because the market is constantly evolving and if you don’t change up your strategies or adapt to new methods or ideas it is going to pass you by.
The other investors ranged from commercial to residential and in markets from Montana to Florida. It is a great group and I think it is a good mix of people who will bring different ideas and skillsets to the table. The goal of these mastermind groups are to share your goals, keep you accountable for doing what you say you are going to do, and to help each other reach their goals if at all possible. Isn’t it easy to say to yourself, “I’ll take care of that tomorrow” or “I didn’t get to that project on my list but I can take care of it next month” when you are only answering to yourself? What if you tell someone you will get it done and then you have to look them in the eye and explain to them why you didn’t do what you said you were going to do. There is some shame there isn’t there? Isn’t it more likely that you will complete that task on time? There may be some people out there who don’t care what other people think but the type A personalities in this group, myself included, will do everything in their power to get it done when they say they will.
The other thing these groups give you, and I think this is one of the most important things, is permission. When you set goals that are easily attainable there is no challenge there. The idea is to push yourself to the limit to reach the goals that are just out of reach or you may think are unobtainable. Not so far out there that it’s impossible, but making the nearly impossible, possible. Just hearing today that one guy’s goal is to flip 50 houses this year made me think, “why can’t I flip 50 houses this year?” I won’t give you the answer but this just gave me the permission that if he can do it why can’t I? Sure I would have to go back to the drawing board and come up with the funding, the systems, the contractors, etc… But it just shows me that it is possible and attainable. And sometimes that’s all we need is the permission, the realization that it is possible to push ourselves to the next level in our businesses or our lives. We may all hear about the people who are doing this kind of volume on podcasts, seminars, etc. but speaking directly to these people and having a direct line is really what I think gives us the permission.
So, for those of you out there who are reading this and thinking you just want to flip your first house or do your first wholesale deal, or maybe you are thinking about getting into real estate investing and don’t know how; use this post and my blog to give you the permission. If I can do it while working a full time job, why can’t you? My goal is to flip 12 houses this year and wholesale/refer out at least 20 contracts. After today, maybe I want to 10x those goals! What are yours?