Smart Goals For Real Estate Investors in 2022
One of the biggest, most important parts of goal setting involves self-reflection. You have to do some quiet inner work to pull your hopes and desires, especially those you previously cast aside because you deemed them impossible or ridiculous, to the surface.
First, you have to rediscover your ambitions. Remember those big dreams and goals you had before life beat you down. It’s time to dream again about the achievements, status, financial accomplishments, lifestyle, and freedom that you might have believed were possible when you were young.
Revisit the ambitions (small or large) you’d like to work toward. You have the chance to think about what you want in life, and instead of immediately casting those ideas aside as “impossible”, get creative about how you might achieve those goals.
In the second step, you’re going to activate your unique purpose, figuring out exactly where you fit in or stand out and use your differences to your advantage.
If you are a person who absolutely loves to upcycle and renovate, you may stand out in the house-flipping business. If you are someone who likes to invest and help others make their dreams come true of living in a new apartment or opening their storefront, real estate syndications may be where you fit in!
Finally, you have to figure out what you want your life to be like. This is the concept behind lifestyle design - you come up with your desired lifestyle and then you start problem-solving so that the results begin to allow the finances, freedom, and feelings you want in your life.
Goal Setting For Commercial Real Estate Investors
The rapid planning method is one of the most effective models for goal setting and is very easy to remember. Each letter in the RPM model stands for one of the steps.
R - Results oriented
P - Purpose-driven
M - Massive action plan
These three steps will help you get from where you are to where you want to go with real estate investing.
The Rapid Planning Method - Results Oriented
First, start by thinking about what you really want. Maybe you dream of traveling more or spending more time with your family, or you may want to venture into entrepreneurship. These are your personal goals.
At first, you may not see how these personal goals matter to or affect your real estate investment plan. However, in time, you’ll begin setting up your investments so that they can help shape and support the achievement of your personal goals!
The Rapid Planning Method - Purpose Driven
Next, think about the question: what is my purpose?
100 years from now, what do you want your legacy to look like? Consider whether your children or grandchildren will be able to share about the impact you made on them, the family, the community, etc. Will they have a legacy passed down to them through your investing, companies, or philanthropic efforts?
Even if you don’t feel ready to determine your “legacy” just yet, you can still begin to work toward your idea of positive impact, community support, and personal growth. Your aspirations will change as the years pass, and your legacy may unfold as part of that process.
Maybe right now your goal is to simply diversify your portfolio by incorporating real estate investments or to help provide communities with affordable housing. If so, every real estate syndication investment is adding a notch toward those goals. It is ok to start small and simple and dream bigger as time goes on!
The Rapid Planning Method - Massive Action
Finally, create an action plan in which you decide the exact steps you’ll take to walk toward your goals. Make a list of the things, events, and connections that may help you achieve your goals.
Don’t hesitate to include seemingly simple activities like calling your CPA friend for a referral or habits such as drinking more water or hiring a personal trainer. List out anything you could do and the resources you need that would guide you closer to your dreams.
If one of your goals is to invest in real estate, without becoming a landlord, Three Keys Investments will be happy to explain how syndications work and guide you through the process of investing alongside us.
Using the rapid planning method while creating real estate investing goals for yourself will help you narrow down the types of properties you want to invest in and which investment strategy you want to experience!
Set Your Goals And Achieve Them!
Many people have “investing” as one of their goals, and here at Three Keys Investments, we can help you redefine what investing means to you and help you invest passively. Real estate investing is what we love to share because it can be such an eye-opening, life-changing opportunity for many people.
Join Three Keys Investments by signing up for our Investor Club.
So, whether you have set a goal this year to diversify your investment portfolio, the RPM method of goal setting is a great strategy to help you get what you want out of life and enjoy the time you have with those you love the most.
This work by Annie Dickerson is licensed under CC BY-NC-SA 4.0