A Fork in the Path — New Destinations

With the apparent failure of the $1MM Deal, I have been thinking about my path to real estate wealth.  Where do I go now?  How do I find my way?  What is the path of least resistance?  What is the path that is little less traveled?  It’s amazing how the world sometimes shouts at you!  What does it take to wake the brain up and make that mental leap.

I have had a couple of those this month:

I always get animated when I talk about real estate.  I think I become Italian.  My hands start talking for me and I wave them around.  My voice undulates and my eyes open wide.  I get excited.  I love it.  I love talking about it, thinking about it, and working on it.  I want to become an Active Investor.  Right now I am a Passive Investor. I’ve let my day J.O.B. keep me from doing it.  I use it as an excuse for a lot of the things that I don’t get done in my life.

Wholesaling is a great way to build cash reserves and get into flipping, and beyond.  But it requires time and dedication.  Passion requires sacrifice.  Successful Real Estate Investors have everything to lose when they get into it.  The have no other option they have to do it.  It’s a mindset! It’s a lifestyle!  The Job makes me too comfortable to push the door, to feel that desperation to get things done in Real Estate.  We’ll there’s my light bulb moment. I have to discover a way to feel that desperation.

I’m setting myself two action goals for this month:

1 – Setup my day job for success.  Stop feeling like I need to work 70-80 hours a week, and have two days a week off from the job.  This is a must.  If I can’t get this done this month it might be time to move on to another job.  That could create the desperation and the motivation to become an active investor.

2 – Create a wholesaling business plan.  Write it out and be very specific in my goals and directions that I want to go in with the wholesaling on a 3 month, 6 month, and 12 month plan.  Set aside money and budget to be used for March.

If we go back to here:

Of course I don’t have much if any time left in my week to allow me to follow-up on this.  But I’m trying to piece together a plan that will allow for me to bring a team together to build this pipeline.  There are a couple of Wholesalers/Birddogs that have been at the LVREIC meetings that I think are going to have the right mentality/personality to become a team.  I’ll dub them Beans and BJ.  After I get through tonight’s meeting I’ll start pulling together a business/marketing plan, and see if I can bring the two of these people together for a meeting and seeing if we can move forward.

We can see a couple of things:

  1. Excuses:  Of course I don’t have much if any time left in my week to allow me to follow-up on this. 
  2. Planning: I’ll start pulling together a business/marketing plan
  3. Dependency on others: There are a couple of Wholesalers/Birddogs that have been at the LVREIC meetings that I think are going to have the right mentality/personality to become a team.  I’ll dub them Beans and BJ
  4. Lack of Desperation: …for a meeting and seeing if we can move forward.

I need to continue to identify these mental roadblocks and removing them from my mindset if I am going to become    to become successful.

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